marcinos on Nostr: As the Bitcoin mining sector starting to consolidate (example of that is merger of ...
As the Bitcoin mining sector starting to consolidate (example of that is merger of Hut8 and US Bitcoin Corp) and as hashrate increases, making it possible to profitably mine BTC only for big companies who can secure electricity supplies and purchase huge numbers of mining hardware, isn’t the bitcoin network at danger of centralisation? If we add to this just very few companies who produce ASIC’s and dynamics of mining pool operations the de-centralisation of the network appears to be at risk. Can anyone point me to materials discussing these issues or comment below? #Bitcoin #BTC #crypto
Published at
2023-05-01 13:19:31Event JSON
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"content": "As the Bitcoin mining sector starting to consolidate (example of that is merger of Hut8 and US Bitcoin Corp) and as hashrate increases, making it possible to profitably mine BTC only for big companies who can secure electricity supplies and purchase huge numbers of mining hardware, isn’t the bitcoin network at danger of centralisation? If we add to this just very few companies who produce ASIC’s and dynamics of mining pool operations the de-centralisation of the network appears to be at risk. Can anyone point me to materials discussing these issues or comment below? #Bitcoin #BTC #crypto",
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