52 sats \ 6 replies \ @DeezSats 15 Sep 2022
Bitcoin price matters when it comes to mining because energy is paid for in fiat.
What happens at a low bitcoin price when only big American regulatory-compliant companies with access to infinite cantillionaire capital keep adding hash and can sustain mining at a loss indefinitely?
I see such a consolidation as the largest ever state-level attack on bitcoin thus far.
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115 sats \ 2 replies \ @Wil 15 Sep 2022
That's the trap that's when they get addicted to Bitcoin
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42 sats \ 0 replies \ @xz 16 Sep 2022
I think there's something in that.
I hear that despite the de jure mining bans, some ~20% hash-rate is still being provided by those regions, as well as these populations with high-ranking global transaction stats.
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42 sats \ 0 replies \ @DeezSats 15 Sep 2022
I like your optimism
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0 sats \ 2 replies \ @EnormousPony 16 Sep 2022
What type of attack they can perform? No theoretical ones but actuable attacks
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0 sats \ 0 replies \ @DeezSats 16 Sep 2022
Regulatory capture as mentioned in Shinobi's article
https://bitcoinmagazine.com/business/bitcoin-mining-concentration-in-america
The concern I was raising was about deputized tax and KYC compliant cantillionaire mining companies adding endless amounts of their own hash at a loss to drive out all other miners until they own enough hash for their puppet masters to perform regulatory capture
Is this a realistic concern? It seems like an attack vector they are gunning for.
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0 sats \ 0 replies \ @selfish_gene 16 Sep 2022
никакой... они способны выключить разом 25% или даже 50% сети.
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0 sats \ 0 replies \ @DeezSats 15 Sep 2022
Nitter link:
https://nitter.it/documentingbtc/status/1569662018197520385
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0 sats \ 0 replies \ @selfish_gene 16 Sep 2022
давай сделаем х2
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0 sats \ 0 replies \ @tosky 16 Sep 2022
this is fantastic - if capital is committed to hash at these prices, it cannot be more bullish
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