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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.

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Discussion

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.