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20 sats \ 1 reply \ @btc_boogeyman 14 Sep 2023 \ on: Drivechains Are Stupid, Prove Me Wrong bitcoin
I got in a heated debate with a miner at a recent conference and his basic argument was:
  • If we don't do something then miners won't be profitable
  • Hash rate doesn't matter
  • We just need more money NOW
I tried to point out that there's always going to be new frontiers for cheap energy, hashrate fluctuations, operational innovation and other dynamism in the market.
It seems like shitcoining on the dev side and pure desperation on the miners side. I don't envy miners. It's kind of like having to run a Just In Time Sats Inventory system and most fail at it...
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0 sats \ 0 replies \ @0330830bf9 14 Sep 2023
This is why Bitcoin's design is so important, the fiat mind virus is everywhere.
The most bullish event in Bitcoin's history will be when the miners highly leveraged to the exchange rate get shaken out.
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