Its normal for us humans to not understand this well, we are dealing with extremely large numbers, its difficult to imagine how difficult mining is today...
In my opinion, the large miners aren't that involved in the Bitcoin scene, its an industry, for them its just a profit making deal, they don't get involved in the politics, they don't care much if mining gets more centralized unless it gets so centralized that it causes the price of Bitcoin to reflect that concern, then they might move.
But in the end, if I have a huge mining farm, and I distribute the hashrate into smaller pools, for the public it might look decentralized, but in reality I am maybe controlling 70% of the hashrate, just distributed around, so it looks decentralized. So we really don't know exactly how decentralized it is + its a flow, it changes all the time, today it might be very decentralized, tomorrow not anymore...
And one more to make you think: all these solo blocks, maybe its a huge mining farm, that got paid by the chip manufacturers, to mine for a few hours a day to a random address, that then looks like some bitaxe found the block. A good way to unload some obsolete ASIC chips you have in stock and sell them at a high price. These home solo devices are usually way overpriced for their performance. Its unlikely, but possible, we will never know 😉
krisl
npub123…yy567
2025-03-23 16:37:08
in reply to nevent1q…0rl0
Author Public Key
npub1234eyna40vdnkfpsjfr95apn8afkux9lgmkx8lduwvkkk4cew2wsayy567Published at
2025-03-23 16:37:08Event JSON
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"created_at": 1742747828,
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"content": "Its normal for us humans to not understand this well, we are dealing with extremely large numbers, its difficult to imagine how difficult mining is today...\n\nIn my opinion, the large miners aren't that involved in the Bitcoin scene, its an industry, for them its just a profit making deal, they don't get involved in the politics, they don't care much if mining gets more centralized unless it gets so centralized that it causes the price of Bitcoin to reflect that concern, then they might move.\n\nBut in the end, if I have a huge mining farm, and I distribute the hashrate into smaller pools, for the public it might look decentralized, but in reality I am maybe controlling 70% of the hashrate, just distributed around, so it looks decentralized. So we really don't know exactly how decentralized it is + its a flow, it changes all the time, today it might be very decentralized, tomorrow not anymore...\n\nAnd one more to make you think: all these solo blocks, maybe its a huge mining farm, that got paid by the chip manufacturers, to mine for a few hours a day to a random address, that then looks like some bitaxe found the block. A good way to unload some obsolete ASIC chips you have in stock and sell them at a high price. These home solo devices are usually way overpriced for their performance. Its unlikely, but possible, we will never know 😉 \n\n",
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