Nostr Web Client

Leatherwork is more Proof-Of-Stake than painting.

In painting everyone starts on the same ground level. On the other hand, starting with a good amount of capital to start with a good workshop, the right tools and the best materials will put you at a much greater head start than someone who is broke.

BoomTown 9mo ago

Compounding on 1 btc vs. 100 btc vs. 100,000 btc is always going to reward / punish the biggest capital allocation. That’s just math. Can’t be bitter that some people have more than us. I’d bet on barefoot mining ahead of Riot and/or Marathon and/or Hut8 … and the at home miner can outperform them all depending on their use case and source of energy.

There is no such thing as fair. Focus on return on capital. Allocation of capital is work. Mining is 100% proof of work … appreciate you are trying to be contrarian with a new take. I just 100% disagree with your qualm. It isn’t with bitcoin mining, it’s with the current distribution of capital.

Reply to this note

Please Login to reply.

Discussion

Leathermint 9mo ago

But you're misunderstanding me. In no way am I claiming it is "unfair". There is no such moral statement here.

Some business ventures rely more on starting capital than others. That's it. Sure there's machines produce pure proof of work. But if we only have 2 Bitcoin miners and one of them has double the capital of the other he will NEVER reach the other one again unless he pours in more capital. That's it. I'm not insinuating it should be otherwise.

BoomTown 9mo ago

I strongly disagree. If they make enough good business moves and have enough time, they can accumulate more capital via the investment of newly accumulated capital than the larger miner.

Especially if the larger miner is destroying capital value through inefficient allocation.

Leathermint 9mo ago

Forget mining for a moment.

Is the result of a painter deeply tied to the amount of capital he can invest in his work?

BoomTown 9mo ago

Time, maybe.

Leathermint 9mo ago

I'm mentally tired from arguing in an other thread I won't continue here but I appreciated the back and forth. Thank you.