The components a price is made of, computed live from public data, with every formula printed next to its number. Check any of it yourself against the open JSON.
The Proof of Work field: every PoW asset above $1B in market value, plus BSV as the cautionary tale. Hashrates across different algorithms cannot be compared raw, so we compare what can be: dollars spent per day securing each ledger. Live and reproducible.
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Apples to apples: the dollars each network spends daily on its own defense. Subsidy × live price for the SHA and Scrypt chains; GPUs × market rent for BTX.
Raw difficulty is only comparable inside the same proof-of-work family: BCH and BSV sit on Bitcoin’s own SHA-256 axis and compare directly. Chains on other algorithms appear via economic normalization only, marked †; BTX per the btxprice model: W × BTX MatMul rate ÷ BTC hash rate. The true cross-algorithm comparison is dollars of security spend, in the tables above and below.
| Asset | % of BTC difficulty |
|---|---|
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BTX price and market cap use the live model price from the open btxprice.com valuation model, which anchors BTX MatMul work to Bitcoin’s market value per unit of network security. The last column is the one that separates BTX from the field: whose security is funded by selling new coins, and whose is funded from outside the asset entirely.
| Asset | Price | Market cap | Security $/day | % of BTC difficulty | What funds it |
|---|---|---|---|---|---|
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Formulas: security spend = daily block subsidy × live price (BTC 450/day, BCH 450/day, BSV 450/day, LTC 3,600/day, XMR 432/day tail, ZEC 1,800/day, ETC ≈13,611/day) and card-equivalents × $0.50/GPU/hr × 24 for BTX. Sources: this node, CoinGecko, btxprice.com, Blockchair. Fee revenue excluded for all chains, which is conservative against BTX’s case.
What BTX is worth if the market values its network defense like BTC, XMR, ETC, ZEC, BCH, LTC, or BSV. Every proof-of-work chain has a security budget: miners spend real resources because rewards make the work rational, and the market then assigns the chain a market cap. Market cap divided by annual security budget is the market’s security multiple: how much value it is willing to carry per dollar of defense. This model applies each chain’s live security multiple to BTX’s live security budget. Not a price prediction; a market structure map. Security parity does not value BTX by narrative. It values BTX by the same question institutions ask of every settlement network: how much market value is carried by each dollar of defense?
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How to read it: BTX at BTC’s multiple means the market values BTX’s security budget the way it values Bitcoin’s. Implied price above the model price means BTX security is priced cheaper than that benchmark; below means BTX is already priced richer. The point is not that BTX should instantly trade at BTC’s multiple. The point is how violently valuation changes when the market starts pricing BTX as a security asset rather than an unknown coin.
| Benchmark chain | Market cap | Annual security budget | Security multiple | BTX implied mcap | BTX implied $/BTX | × model price |
|---|---|---|---|---|---|---|
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Two different budgets, named honestly: peer chains use their revenue security budget, daily subsidy × live price × 365, what the protocol actually pays its miners. BTX uses its replacement-cost security budget, the open-market GPU rent required to match the live network × 365: it measures the cost of the compute wall, not exchange revenue and not a price prediction. BTX uses replacement cost because liquid exchange revenue is still developing; peers use revenue because their prices are already deep. Fees are excluded on all chains for first-pass comparability; a fee-inclusive mode and an EVX scenario belong in a separate toggle. Formulas: security multiple = market cap ÷ annual security budget. Implied BTX market cap = BTX annual security budget × peer multiple. Implied $/BTX = implied market cap ÷ visible supply. Same live inputs as the field tables: CoinGecko, btxprice.com, this node.
The number that matters to the people producing the supply. On a growing network, the coin you sell today costs more to mine back next week; TMC prices that reality. Sell below it and you are losing BTX-denominated ground even when the spreadsheet says profit. Nobody else publishes this.
Formulas: Break-even = floor. TMC = floor × max(2, 1 + weekly growth), the true cost of a coin you must replace one week out; the 2× floor exists because miners never sell below twice cost, and growth can only push the bar higher. Hold-50 = 2 × TMC: mine two coins, sell one at this price and it pays for both; the one you keep costs you nothing. General rule: price needed = cost ÷ share you keep. Miners typically target holding at least half. Your personal TMC, with your own hardware in it, lives on the mining desk.
What it costs the whole network to produce 1 BTX right now, priced across the real GPU rent market. The market can trade below production cost; it rarely lives there.
Formula: cards needed = network nps ÷ 25,000 per card. Cost per day = cards × rent × 24. Floor = cost per day ÷ (960 blocks × emission). Band: $0.45 cheap (the absolute cheapest 5090 on the market), $0.50 base, $0.60 high.
Two questions every buyer should ask and no one else answers. True float: of all the BTX that exists, how much could actually be bought? Coins parked in provable vault structures are not for sale at any nearby price, so we subtract them; what remains is the real shelf. A small shelf means small money moves price violently, in both directions. Days to absorb: how many days of fresh mining does it take to equal that entire shelf? A small number means new supply floods the market fast and sellers set the price; a large number means the shelf is scarce relative to new supply and buyers must compete for it.
Formulas: True float v1 = visible supply − identical-balance vault clusters (single entities holding split, unmoved positions); conservative on purpose, it removes only what the chain itself proves is parked. Days-to-absorb = true float ÷ daily emission.
The institutional security question, answered in rent. What it would cost to point a network-sized fleet at BTX, priced at open-market GPU rates.
Formula: card-equivalents = network nps ÷ 25,000. Attack cost = cards × $0.50 × hours. Ignores the attacker’s hardest problem, actually sourcing that many GPUs at once.
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How to read it: take a slice of BTC’s total market value and spread it across BTX’s tiny visible supply of coins. BTC has 20.5M coins; BTX has under 3M, so even a dust-sized slice of BTC’s value is a large per-coin number. That is the point: small supply means small capital flows move price violently, both directions. Formula: implied $/BTX = (BTC market cap × scenario %) ÷ BTX visible supply. A mapping, not a prediction.
Measuring…
Measured from this site's own 15-minute recordings of the network MatMul rate, the only historical record of this chain. Raw series at /history.json.
BTC is the benchmark BTX is built to surpass. Numbers, side by side.
| BTC | BTX | |
|---|---|---|
| Block time | 10 minutes | 90 seconds |
| Blocks per day | 144 | 960 |
| Max supply | 21,000,000 | 21,000,000 |
| Halving interval | 210,000 blocks ≈ 4 years | 525,000 blocks ≈ 1.5 years |
| New supply per day, today | ≈ 450 BTC | — |
| Signatures | ECDSA, quantum-breakable | ML-DSA + SLH-DSA, post-quantum from genesis |
| Mining hardware | Single-purpose SHA-256 ASICs | Open-market GPUs, productive outside mining |
| Security funding after subsidy | Transaction fees, historically insufficient | Entire EVX clearing-layer fee market, paid in BTX to miner-validators |
| Finality for the economy on top | ≈ 60 minutes convention | 1–2 second target on EVX (in development), anchored to BTX |
| Chain age | 17 years | — |
Live implied-price scenarios against BTC market cap run on the metrics page.