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102 sats \ 1 reply \ @joyepzion 28 Aug \ on: Have we all been overpaying for Bitcoin transactions? bitcoin
The hashrate staying at ATHs while fees drop is the key insight here. It suggests we're seeing mining operations optimize for efficiency rather than just fee revenue. Many large miners have locked in electricity rates and are playing the long game with BTC accumulation.
I was wondering too if OP's observation could also be explained by an unwelcome centralization of mining as I think your post suggests?
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