Increasing hashrate is more a function of improving asics efficiency than improving security
Attackers have the same access to the better asics than honest miners
More hash rate under the thumb of regulated, public companies does not make the network more secure, the opposite actually
That's why projects like nostr:nprofile1qqsq9k04vahllseell55m74n3047y88pzlr0z5yany32st29fapqmgsppemhxue69uhkummn9ekx7mp0qy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj7qgawaehxw309ahx7um5wghxy6t5vdhkjmn9wgh8xmmrd9skctc87ckyu are so important!
And I'm hopeful that there will be more
We need more plebs running full nodes and simple solo miners like #bitaxe. This will improve security and it’s just a matter of time before we get to a place where everyone has a wallet, a node, and a miner!!
Doing my part ser 🫡 doing both.
Few understand this
Cryptoeconomics by Eric Voskuil, that was that book. I listened to the ebook but lost the plot and resigned. I need to buy paper one and go through that. There are many threats and scenarios analyzed there including mining economics.
https://www.amazon.com/Cryptoeconomics-Fundamental-Principles-Eric-Voskuil/dp/1735060828/
It is also the result of more electricity (both stranded and unutilized) now being used for bitcoin mining.
💯
