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10 sats \ 2 replies \ @BBitcoinUSA 11 Aug 2023 \ on: A few things I am bullish on bitcoin
Home mining and/or solo mining. My gut feeling is that the Bitcoin protocol from the simplest point of view wasn’t designed to favor / and isn’t capable of favoring / centralization in any way vs. decentralization, everything else being equal. For some reason I see the risk/return spectrum shifting over time in favor of individuals and smaller operations vs. larger / institutional mining groups. Curious to hear what others think about that as I’ve been thinking a lot about it, and all of the unique use cases for home mining that haven’t even been contemplated yet
I'm not sure about that, economies of scale favour large operations.
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I think it further centralizes before really decentralizing. When we get to a point where mining hardware can be built into any appliance or machinery it will only be logical to have a fridge that mines you some Bitcoin vs one that doesn't if the cost to buy is similar. This is quite a ways down the road but I could see hashrate decentralization coming from some integration like this.
Look at heatbit as the first iteration of this idea. I think you can mine around $30 in bitcoin a month from a heatbit appliance and it doesn't use any excess electricity compared to a standard heater it essentially pays it's own operating cost and your room is hot. The only roadblock right now is there product is about 2x the price of say a comparable appliance but obviously prices will come down over time. If prices can come down to be similar to comparable appliances you just market it as the appliance that pays for itself.
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