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21 sats \ 1 reply \ @OT 12h \ parent \ on: The "Silver Lining" to the Tariffs - forcing Hashrate OUT of the United States bitcoin_Mining
I agree that this isn't good. But these links are about the Bitmain/Antpool proxies. Your post is focused on Foundry who do construct their own blocks.
Best we can do is keep educating these fiat miners and hope it gets through that overall it's bad for Bitcoin and the price will go down if it continues.
I don't like that Foundry have so much hash. Finding 9 in a row is just luck. If Foundry did double spend after 6 blocks and the sender of the TX spread that info through social media I think they would lose a lot of their hash rate.
The incentive is still to play along. Maybe that's a bit naïve but they're a big business now with a lot to lose. It's trivial to switch pools.
Bitmain on the other hand are well known bad actors, but there's not much we can do about it until there's more competition in mining hardware.
There are surely miners that mine in other countries but point their hash to Foundry? Also there are other miners in the US who point their hash at other pools.
Also, like during COVID states in the US started flexing their own autonomy. A blanket ban after Trump or too much hash in the US isn't our biggest issue at the moment IMO.
I mean I kinda agree with having other jurisdictions crowning their hash rate, but it comes down to the cheapest energy right? China will have to fire up again, then there's Africa and the middle East growing too.
Would opening a new channel out of a channel close be possible? I guess that would only be if certain conditions are met like a high fee environment, uninitiated forced closed and a connected peer.
Right, we'll have to wait and see. I can't really see China collapsing TBH. It might end up looking like Japan's death by 1000 cuts, or they could turn it around and be the superpower many think it will become.
Yeah, because of his over confident call on Bitcoin you can't really take him too seriously. You know how traders talk when the analyse a chart? They usually don't commit too far to either end. Zeihan talks in absolutes and I think it's not a good strategy.
I did listen to his book The End of the World is Just the Begining and I remember he addressed this claim. If I remember correct he said something like it's too little too late.
The book was written before the recent LLM boom. But even if we get amazing AI tech that can do most of our current jobs, what are all the people going to do with themselves? They love making money! It's often put as a higher priority than the family.
Demographics. He's been saying it for years BTW
I think he's a bit over confident on everything he says. Not sure if you remember his Rogan interview where he said Bitcoin would go negative. Lol
I think 4.5% growth is still good compared with the rest of the world. The 2021 stat of 8.4% might have been a bit cherry picked as it was off the COVID bounce.
Interesting to see how it plays out. Zeihan still things China will collapse.
I just gave it a test.
I like it!
One thing that I got a little stumped on was when I needed to claim the sats. Some wallets don't allow you to paste in an invoice. They make you generate one. So that might be something to look into more.
Its a tough question...
It kinda implies that you want to make a name for yourself. Also that you would leave something fixed that would remain around forever.
IDK... I need to think about it more.