ChrisMartl on Nostr: That would not have a significant effect; at least, non-mining-entities stop running ...
That would not have a significant effect; at least, non-mining-entities stop running a node. And if this were the case, then the Bitcoin system would experience a value reduction due to from that diminished decentralization characteristic. Attempting to concentrate mining, verification and storage resources by mining-entities would harm themselves in the medium, long run. But it is an educated guess to assume that mining entities are more interested in the short term benefits; so that is a probable Nash equilibrium outcome.
Published at
2023-10-02 10:08:15Event JSON
{
"id": "1ba06e6c8bc4fe4d52415a34726b1182afc180e4ee83945705aebbf7440b59da",
"pubkey": "5341dedd0eed04d2bcc75d9c58f274ca741615c0c3a0a33ed0c6811f178fb15d",
"created_at": 1696241295,
"kind": 1,
"tags": [
[
"e",
"f4eba16198c0e009d1df21dda1cb84a87bd74f1848d3b550ccb2f737d79f2941",
""
],
[
"e",
"a9ee52a314c4466bb033f213fe1420973b7e8d35c70171745932571fc171aa01"
],
[
"p",
"86c79e5aa8c41f68c9a238858b08c4d63c1b0ce6d4fa96d32a90df25bd83b072"
]
],
"content": "That would not have a significant effect; at least, non-mining-entities stop running a node. And if this were the case, then the Bitcoin system would experience a value reduction due to from that diminished decentralization characteristic. Attempting to concentrate mining, verification and storage resources by mining-entities would harm themselves in the medium, long run. But it is an educated guess to assume that mining entities are more interested in the short term benefits; so that is a probable Nash equilibrium outcome.",
"sig": "19f975bf89241b968edba70fd4a0da28b17858a236aa2cf2603cf49073224a78dbebb0194fc1c2e63d47f7a766626908a05e70bf807f197bd97a74036c84dfb0"
}
