Spack_Jarrow on Nostr: Further thinking about #decentralization of #hashpower as a small individual miner ...

Further thinking about #decentralization of #hashpower as a small individual miner using things like #bitaxe the point isn’t to become wealthy by running the hardware, but to help in terms of contribution to security of the network in an easily sustainable way where it doesn’t matter if you’re payed or not. The payment (regardless of size of block reward and subsidy) serves as a reward to those who are able to keep hashpower generating hardware running despite whatever conditions may present themselves, but it is not the true incentive. Enter the cockroach resilience like miners, running #cellphonechargers, keeping the hashpower going no matter what. One can only speculate what future development will yield in terms of small affordable hardware regarding energy use and hash power), but for now the small scale #bitaxe is as close as we have to that.

quoting note1xeg…p8a0

As the cost of mining goes up in terms of energy cost, and the block reward (subsidy I think is the term I’ve heard) goes down, will mining become more decentralized and run on more dispersed smaller scale hardware? (Enter hardware like the bitaxe?)

I’ve heard speculation block fee’s will go up over time too with competition for block space, so what will become a good UTXO size to have at a minimum?

When the block subsidy is smaller than the fees being paid to the miners, will big miners still operate for competition on what is a chance to gather these fees, or will small miners at random become wealthy by running their own hardware?



Piecing together this whole bitcoin thing little by little from an end user’s perspective.