if miners aren't looking to maximize profits, Bitcoin is broken.
the game theory of Bitcoin depends on miners maximizing profits.
so far, mining is highly competitive, has very slim margins and if miners DONT maximize profits and seek out cheap energy, they will fail.
yes they will, and the network will adapt to them failing. it's called the difficulty adjustment.
bitcoin game theory depends on cooperation and consensus, and v30 isn't included.
so you're thesis here is:
1) miners will idealistically mine and willingly leave money on the table by filtering large OP_RETURNS.
2) then they will go out of business and the difficulty will go down.
but somehow the remaining miners will STILL filter?
lol
I'm unclear on the endgame here.
1 yes
2 going out of business is part of a meritocracy. some business models break.
the remaining miners will have higher chances of finding blocks, so yes, the higher accuracy will replace the "money left on the table".
the endgame is a money that works as designed.
um
their business model broke because they refused to mine profitable txs.
*any* miner who includes them can outcompete *every* miner who filters.
but ok I get it
filters will work because EVERYONE will just decide that filtering is more important than profit.
and we're blaming Andreas because he doesn't understand this.
good luck with your utopia, we are all cheering for you ❤
a video about why a monopoly on mining
like you describe
is incompatible with a free economic system
