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tolot
npub1lnj…8v28
2024-07-26 09:16:25

tolot on Nostr: You understand something weird is going on when a block producer decides to allocate ...

You understand something weird is going on when a block producer decides to allocate 100milli for buying the corn instead of using 100milli to buy ASICs to mine the corn.

Mining is going to be the focal point on which Bitcoin future is decided: centralization pushes miners out of the market, and nowadays mining is terribly centralized. No plebs with their Bitaxe can decentralize again bitcoin mining...you need big miners to start adopting StratumV2.

Again, if the gold miner buys gold instead of buying pickaxe, probably that's a good sign for the short term price of gold, not for the mining industry.

https://www.investopedia.com/marathon-digital-buys-usd100-million-worth-of-bitcoin-8683522

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