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52 sats \ 6 replies \ @DeezSats 15 Sep 2022 \ on: Hash rate new high! 240,000,000,000,000,000,000 computations EVERY second⚡️ bitcoin
Bitcoin price matters when it comes to mining because energy is paid for in fiat.
What happens at a low bitcoin price when only big American regulatory-compliant companies with access to infinite cantillionaire capital keep adding hash and can sustain mining at a loss indefinitely?
I see such a consolidation as the largest ever state-level attack on bitcoin thus far.
That's the trap that's when they get addicted to Bitcoin
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I think there's something in that.
I hear that despite the de jure mining bans, some ~20% hash-rate is still being provided by those regions, as well as these populations with high-ranking global transaction stats.
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I like your optimism
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What type of attack they can perform? No theoretical ones but actuable attacks
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Regulatory capture as mentioned in Shinobi's article
https://bitcoinmagazine.com/business/bitcoin-mining-concentration-in-america
The concern I was raising was about deputized tax and KYC compliant cantillionaire mining companies adding endless amounts of their own hash at a loss to drive out all other miners until they own enough hash for their puppet masters to perform regulatory capture
Is this a realistic concern? It seems like an attack vector they are gunning for.
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никакой... они способны выключить разом 25% или даже 50% сети.
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