Yeah but selling rigs means losing whatever the msrkey figures is amortized, and the transportation and taxes. It would be so much better if rigs could sit there and do other tasks
Discussion
I don't remember the reasoning... But you don't want the mining rigs to be useful for anything but mining Bitcoin. It's supposed to be better for Bitcoin that way
Interesting. I'd like to know the reasoning for that.
It's just a trade off for specialising.
They do one thing faster than any other chip.
They can also be used to mine/attack any fork of Bitcoin.
Bitcoin the token has been trading sideways for a long time. It sounds like miners are starting to capitulate. When bitcoin's price has another leg up, all the incentives shift again.
If AI hardware could compete with ASICS, Bitcoin would have a decent mining attack vector risk. What protects Bitcoin is the fact that it's more profitable & less risky to be an honest/cooperative miner.
The self correcting incentives of Bitcoin is something so magical, one might think they're divine.
Makes sense. And IMO, bitcoin is divinely inspired. Basically its an example of a platonic ideal form emerging out of chaos as a coherent entity. In bitcoin's case, we're not looking at a physical thing and imagining that there's a platonic ideal version that collapses an infinite array of possible features into one knowable concept, but rather the knowable concept emerging almost a-priori and in order to know it we describe it's features - so knowing its genesis makes it backwards compared to every other thing in the course of human experience. It would break my brain to try believing that bitcoin could enter this world without divine inspiration.
Well... Yes, that sounds woo-woo to me too. I need another coffee.
Would appreciate thoughts on this: I think also it is divine imitation. It took a miracle for the Divine to create a physical world with limits to His limitlessness. It took a miracle to allow free will. There was no necessity for either. As creatures we owe worship not a desire for equality.
Stay humble reflects this to me.
Fiat is - even as a ledger - limitless expansion. As such a ledger it implies man can owe man infinitely; it either bakes in a lie (it will not actually be repaid, an affront to the truth). Or it bakes in an assumption of divine equality- man can owe infinite because man will be infinite. An affront to justice.
Bitcoin did not have to be finite - this was a choice; as such Bitcoin, (even if inspired) as a creation by the flawed intellect in man, was made in imitation of divine creation. Unlike gold which was practically finite - (not via a nod towards humility but in fact as a metal steeped in a scarcity at odds forever with environmental stewardship) - Bitcoin is prescribed finite.
While it can be subdivided to account for *a lot* of transactions, the finite backbone does prescribe limits (if I understand Jack K at all, nostr:npub18384z4sjgdfy7vr76thzwtru7jncysz0hcapwesxqsak44p8aemsyfaslh , and I probably do not) these limits may stretch towards the absolute limits of the material world. As such created in imitation of the Divine as a creator it can be seen as Gods money ( maybe in the solution to the recommendation to give to Ceasar what is Ceasars…)
Stay humble stack sats (which I think is from nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx ) can be both a personal mantra to overconfidence and foolish pursuits but also maybe a moral imperative in orienting towards ethical money.
I suspect I have made many errors and shortcuts coming to this; to the extent any of this is useful or true it came from other sources I cannot specifically remember to quote or credit and has become inchoate in my head.
And to get further outside of any competence, if things like changing op return limits or other changes to bitcoin itself challenge (even indirectly) this essential attribute to finite, then they challenge the good of the imitation. All else equal (which is a very tall order) if a change seems to expand Bitcoin it may undermine this humility?
Interesting thoughts! This is a new angle for me. It never occurred to me to associate finitude with humility in the design of bitcoin, and then think of bitcoin as a smaller image of God - which it must be, since everything is, to varying degrees of fidelity and scope. An infinite fractal has infinite variation, while still retaining coherence. In fact, that would still be the case even without God, based on cosmic expansion from the supposed big bang. I like it. Thanks for showing me this new side of this jewel emerging from hyperspace that we call bitcoin.
Ah, forgot part - as I currently understand the op_return thing, stuff put there is prunable. If that's wrong, someone please tell me, cuz that's really important I think. I've been mostly against the op_return change, because it looks like an inelegant solution imo - elegant would be reverting at least part of taproot or the witness discount - but if its prunable then it might not be as bad as it seems. Then the next question after that is : can lightning work (or be made to work) on a pruned node (currently no). My lack of knowledge here is forcing me to emphasize the "stay humble" part of Odell's phrase.
They're only good for hashing.