Is this wishful thinking or can you name a few industries where small producers are more efficient than scaling ones?
Discussion
halvings will continue to slash the block rewards. regardless of bitcoin price, because of low transaction fees, many miners are already struggling. like you said, every business needs to make money. now we have solo miners, and they will increase their hashrates exponentially as bitcoin adoption grows. this is great for bitcoin, but not so great for miners.
You still didn’t name an industry in wich low quantity producers beat scaled ones.
Also logically it doesn’t make sense to me. Why would a producer with a few machines stay longer in business than the big ones?
Big players have much better access to capital and hardware.
solo miners are not in it for profit. imagine 10m bitcoiners running their own 10 th/s miners each. i'd compare solo miners to a small batch côte du rhône wine maker or a gruyère cheese producer in the swiss alps. not chasing scale, just preserving quality and independence.
Beautifully said 👌
I hope you are right.
Unfortunately I’m still not convinced though. If bitcoin becomes the global reserve asset and money of choice for transactions I doubt a bunch of hobbyists will be enough to secure the network from nation state attacks.