evanbaer on Nostr: The arms race aspect of #bitcoin mining: a bug or a feature? The more miners compete ...

The arms race aspect of #bitcoin mining: a bug or a feature?

The more miners compete with each other, the more network difficulty goes up and the less they make.

If miners could cooperate at scale, they would all benefit from lower network difficulty. But this is a hard problem!

Does bitcoin solve cooperation at scale?