Yup

The problem with BTC going down is that it's a double whammy of not only BTC going down but also the cost of its shovels going up

Before: BTC pays $100k but a shovel costs $300

Now: BTC pays $70k but a shovel costs $$??

Bitcoin asked the right questions but came back with the wrong answers

What's a shovel?

They're using the analogy of mining for gold. the cost of a shovel/pitchfork goes up when the price of gold goes down - which is a double whammy

you didn't answer the question. A shovel in this case is the equipment + energy needed to mine (GPU's etc.)

Which is pretty much obvious to anyone who has heard of bitcoin in the year of our lord 2026

Especially since the "sell shovels during a gold rush" has been used to apply to nVidia

	▲	latexr an hour ago \| parent [-]
		But the person upstream hasn’t. It’s not obvious to them. Which is why a good answer has to include the detail.