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26 sats \ 5 replies \ @carlosfandango 7 Mar \ parent \ on: Counting my blessings amidst Million Sats Madness meta
Game theory is at the heart of bitcoin. Whilst that may not play out with miners against each other it certainly plays out within the ecosystem. It is currently most profitable to focus on deploying the maximum number of rigs efficiently, it may become more profitable to sabotage other miners in due course. I can’t say if it happens yet but it would work woth single figure numbers of large mining entities competing to either exclude smaller operations or to gain advantage over their peers…. The joy of game theory in this instance is that if you damage one competitor you enhance all others (including yourself).
This point also explains political lobbying for regulations by corporations and special interest groups.
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It does… although in the case of special interest groups the pay off does not have to be economic ie many climate policies.
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I meant industrial special interests. There's certainly some of that in the climate space, too, as well as everything else going in that cesspool.
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Agreed. Sorry - I wasn’t clear
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no prob
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