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223 sats \ 1 reply \ @miraclemarc 15 Sep 2023 \ on: Fossil Fuels are Fiat Energy. Reorg of the mining space coming ⚒️ bitcoin
Miners can make arrangements with utilities who have miss-allocated capital to the illogical, unreliable power source of wind and solar.
But miners should not and cannot plan to not operate based on the unreliability of these energy sources or you will drive your mining operation into the ground. Miners must plan to run near 100% of the time to ROI on their machines and thus they need reliable power sources such as fossil fuels and Nuclear.
So, while indirectly miners can help the miss-allocated capital, long term miners ensure the build out of reliable sources of power and de risk the scaled build out of these energy sources. This is great for humanity and human flourishing.
Federated solutions will become popular for this reason in addition to privacy, improved security (for some), and other features. Examples include cashu https://cashu.space/ and Fedimint https://fedimint.org/.
Inscriptions are not a fad or a threat but likely peaking as far as interest goes. They are simply a method of storing data on the Bitcoin timechain. Many other methods of storing data will likely be developed and some (most likely very few) may serve some purpose.
The bitcoin timechain is working as designed. It is a necessity to have incentives to use the scarce block space and inscriptions incentive this. This is good for fees which of course incentivizes miners long term.
GENESIS