What Is Number Go Up?
Number Go Up, or NgU for short, is bitcoin slang that originated to characterize the price of Bitcoin since the number goes up and is designed to go up forever. The term has evolved to mean more than just the price of Bitcoin. It can be applied to almost everything in the Bitcoin industry since there are so many numbers that go up and may continue to go up …forever.
Bitcoin Price NgU
The price of Bitcoin is most undoubtedly the most often mentioned metric for valuing Bitcoin. With a finite amount of Bitcoin in circulation and a slowing supply until the final Bitcoin is produced in 2140, the price of Bitcoin will continue to rise as global demand for bitcoin continues to grow.
In simple terms, the price of bitcoin is designed to go up forever.
Block Height NgU
Tick tock. Next block. Just like clockwork, the Bitcoin network continues to mine new blocks at a rate of about 1 block every ten minutes. This is an incredibly important metric because Bitcoin doesn’t care what the rest of the world does or says. It’s a politically agnostic software that is owned and operated by both everyone and no one. All it does is keep mining blocks and adding them to the blockchainWhat Is The Blockchain? The blockchain is the public record of bitcoin transactions, which are organized into blocks that are all chronologically linked to one another. Because every block is... as we move closer to hyperbitcoinization one block at a time.
Hashrate NgU
The hashrateWhat Is Bitcoin Hashrate? Hashrate, sometimes called hash power, is the measurement of the total computational power per second contributed by bitcoin miners globally. Typically, the hashrate refers to all... is another fascinating number that will go up over time. As more miners across the world compete for those fresh new satsWhat Is A Satoshi? A Satoshi (sat or sats for short) is the smallest unit of a bitcoin. 1 Satoshi is a hundred millionth of a BTC (1 sat =... from the block rewardWhat Is The Block Reward? The block reward is how Bitcoin miners are compensated for mining and adding blocks of transactions to the blockchain. The block reward is made up..., the hashrate will inevitably rise with the price. With bitcoin miningWhat Is Bitcoin Mining? Bitcoin mining is the process of using specialized computers called bitcoin miners to systematically guess a number that completes a math equation. Whoever finds the number... becoming a topic of conversation with energy producers, hashrate will be a critical metric to monitor.
Simply put, the hashrate tends to follow the price, and since the price of Bitcoin is meant to continue to go up indefinitely, the hashrate will continue to go up along with it.
Flared Gas Mining NgU
With ESG climate change regulations on the rise, oil producers are looking for any way possible to reduce flare fees, increase profitability, and maintain ESG compliance. There is an abundance of stranded energy from oil wells across the globe just waiting to be harnessed and put to work mining bitcoin.
Bitcoin mining with flared gas number go up and is likely to become a focal point of the oil and gas sector in the coming years.
Renewable Energy Mining NgU
With governments all around the world subsidizing the production of renewable energy production, the amount of energy being produced by renewable sources continues to climb. Unfortunately, due to the intermittency of solar and wind, it’s impossible to perfectly match energy supply with demand. Bitcoin miners are quickly becoming the go-to solution to balance the grid supply and demand.
While grid operators are constantly looking for ways to reduce renewable energy waste and eliminate energy curtailment, Bitcoin miners are rising to the challenge.
Your Sat Stack NgU
As long as you stack sats and Hodl, it’s an inevitability that your own personal bitcoin stack will go up. All you need to do is to keep stacking, never stop, and make sure that you Hodl by sending your bitcoin to your own wallet.
If everyone does this, the price number will continue to climb as well.
Auto Stacking NgU
Just a few years ago, there were only a few services that offered the option to buy Bitcoin on a recurring schedule. Luckily, that’s no longer the case. Now, dollar cost averagingWhat Is Dollar Cost Averaging? Dollar-cost averaging (DCA) is an investing strategy of buying a fixed dollar amount of a particular asset on a recurring schedule. DCA allows investors to... (DCAWhat Is Dollar Cost Averaging? Dollar-cost averaging (DCA) is an investing strategy of buying a fixed dollar amount of a particular asset on a recurring schedule. DCA allows investors to...) seems to be one of the favorite methods of protecting yourself from the swings in the bitcoin price without the emotional swings.
With DCA auto-stacking, it’s not about timing the market. It’s about time in the market so the sooner you start auto-stacking, the better off you will be in the future.
Number Of Nodes NgU
Another incredibly important number that continues to rise is the number of nodes that make up the Bitcoin network. With services like MyNode, Start9 Labs, Citadel, RaspberryPi Blitz, BTCPay Server, and others, the number of computers that run the Bitcoin client software and keep a full archival of the blockchain continues to rise.
Running your own Bitcoin full node is an incredible journey of learning that concludes with you having your own copy of the blockchain so you no longer have to trust anyone else to send/receive trasnsactions and verify your address balances.
Running your own full nodeWhat Is A Bitcoin Node? A bitcoin node is any computer that runs the bitcoin software, enforces the bitcoin consensus rules, and validates bitcoin transactions and blocks. Bitcoin nodes are... is possibly one of the most important parts of becoming a full bitcoiner.
Lightning Network NgU
As the most prominent method for scaling bitcoin grows, so does the number of Lightning nodes, payment channels, and the amount of Bitcoin held in those channels. Since The LNWhat Is The Lightning Network? The lightning network is a layer 2 payment protocol that enables near-instant, low-fee, private payments on the Bitcoin network. It is intended to enable scalable,... is a whole new layer of incentives, it is helping to keep on-chain fees low while increasing transaction density per on-chain tx.
CoinJoin Use NgU
With the addition of Whirlpool on Sparrow Wallet and JoinMarket on nodes like Umbrel, CoinJoinWhat Is CoinJoin? CoinJoin is a type of privacy-enhancing Bitcoin practice that groups multiple UTXOs (inputs) together and spends them with other users' transactions, making it more difficult to know... use is on the rise. With each new user, the anonymity set increases and provides more privacy for each and every user in the mix.
As CoinJoin use continues to become more of a default standard, the network as a whole benefits from increased privacy.
Small Address Balance NgU
While many Bitcoin skeptics and FUDsters like to claim that Bitcoin wealth is centralized, the blockchain tells a different story. According to the blockchain data company, Glassnode, the number of Bitcoin addresses with a balance less than .01 BTC is actually on the rise while the number of Bitcoin addresses with a balance greater than x BTC has been on the decline.
As more people begin their journey down the Bitcoin rabbit hole, stack their first sats, and take custody of their bitcoin, the number of Bitcoin addresses will continue to go up.
Bitcoin Pleb NgU
The plebs are the lifeblood of Bitcoin. The plebs run the miners, operate the nodes, manage the payment channels, write the blogs, film the videos, record the podcasts, create the infographics, and shitpost on Twitter. As we continue to orangepill our families, friends, colleagues, and world leaders, the number of plebs will continue to go up.
Corporate Treasury NgU
The game theoryWhat Is Game Theory? Game theory is a field of study that analyzes strategic interactions and decision-making between individuals in situations where the outcome depends on the choices made by... of corporate treasuries is yet another exciting number to go up. As governments continue to print moneyWhat Is Money? Money is a tool that enables humans to perform 3 basic functions: store value, exchange value, and account for value. In order for money to perform its... and devalue the savings of anyone holding fiat money, the demand to find a safe place to store corporate treasuries continues to go up. As a number of metrics listed here continue to go up, the number of businesses that decide to hold bitcoin on their balance sheets will continue to go up as well. It’s inevitable really.
Legal Tender Law NgU
In 2021, the small Central American country of El Salvador became the first sovereign nation to require its citizens to accept bitcoin as legal tender. This historic moment brought about a 0 to 1 change that put the small nation on a unique path that the rest of the world will soon follow.
Fiat Supply NgU Infinity
One of Bitcoin’s greatest features is that its supply is limited to only 21,000,000 coins and nobody can change that. Nobody can dilute the amount of bitcoin that you own in relation to the total supply. The same cannot be said about fiat money. Each and every dollar printed dilutes the amount that you own in relation to the infinite fiat supply. This never ending process of monetary inflation will cause prices to rise forever and the value of your labor to be endlessly eroded.