Primordial🫎 on Nostr: They can also signal value based on their willingness to compete over the ledger. ...
They can also signal value based on their willingness to compete over the ledger. It's an important point to make because people that don't control their own hashpower are entering into a trust-based system.
Take El Salvador as an example, they don't hash at a sovereign level just to monetize their power. An equally important reason they do so is to ensure permissionless access to the network.
I speculate that a "public" mining pool consisting mostly of regular everyday people is going to emerge as a serious competitor in the industry over the next 10 years. People have a lot more power than they currently realize.. and to ensure censorship resistance they must engage in the power competition.
Take El Salvador as an example, they don't hash at a sovereign level just to monetize their power. An equally important reason they do so is to ensure permissionless access to the network.
I speculate that a "public" mining pool consisting mostly of regular everyday people is going to emerge as a serious competitor in the industry over the next 10 years. People have a lot more power than they currently realize.. and to ensure censorship resistance they must engage in the power competition.