Expatriotic on Nostr: Good morning. Cryptoeconomics by Erik Voskuil. a chapter a day. read in full at ...
Good morning.
Cryptoeconomics by Erik Voskuil.
a chapter a day.
read in full at https://expatriotic.me
ASIC Monopoly Fallacy
Cartel Control Theory: Suggests Bitcoin ASIC prices are controlled by a miner cartel for advantage.
Economic Equivalence: A cartel acts like one entity; size changes are market-driven for efficiency.
Internal Subsidies: Non-market pricing of ASICs within cartels is a form of internal subsidy.
Pricing Strategy: Raising prices requires production limits, risking unsold stock.
Market Forces: Competition drives prices to market equilibrium.
Interest Rates: Market sets price based on global return, influenced by time preference.
Open Competition: Without state interference, all can compete in ASIC production.
Monopoly: Requires state-granted power, not market dynamics.
Hash Power: Buying from cartel doesn't boost its power; capital seeks equal returns.
Pooling Pressure: Not protocol-driven; market forces control ASIC production
Cryptoeconomics by Erik Voskuil.
a chapter a day.
read in full at https://expatriotic.me
ASIC Monopoly Fallacy
Cartel Control Theory: Suggests Bitcoin ASIC prices are controlled by a miner cartel for advantage.
Economic Equivalence: A cartel acts like one entity; size changes are market-driven for efficiency.
Internal Subsidies: Non-market pricing of ASICs within cartels is a form of internal subsidy.
Pricing Strategy: Raising prices requires production limits, risking unsold stock.
Market Forces: Competition drives prices to market equilibrium.
Interest Rates: Market sets price based on global return, influenced by time preference.
Open Competition: Without state interference, all can compete in ASIC production.
Monopoly: Requires state-granted power, not market dynamics.
Hash Power: Buying from cartel doesn't boost its power; capital seeks equal returns.
Pooling Pressure: Not protocol-driven; market forces control ASIC production