Cassie Heart
@cassie
study this
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agrimony↑🎩
@agrimony.eth
Oh wow halving really killed miners rev recently?
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Cassie Heart
@cassie
draw conclusions from this fact
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agrimony↑🎩
@agrimony.eth
Miners gonna bleed till market corrects. Some miners will leave till hash rate drops sufficiently
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Cassie Heart
@cassie
Isn't it interesting that mining revenue is 50%? Isn't it interesting that hash rate typically corrects to reach mining revenue homeostasis? What will the other 50% mining power do? What _can_ they do?
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agrimony↑🎩
@agrimony.eth
It's a matter of profitability at the end no? Miners will shift to places with lower opex (ie cheaper electricity) which probably result in some level of miner centralization? 🤔
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Cassie Heart
@cassie
bitcoin has never had a drop in mining security significant enough that a 51% attack was possible before. current delta on hashrate to close the gap to earnings is a drop to ~46% of current hashrate. 54% free to do as they like. consider the implications to the assumed cryptoeconomic security. what happens next?
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Michael Pfister
@pfista
So I’m guessing you don’t own bitcoin?
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agrimony↑🎩
@agrimony.eth
Hmm is mev even possible on btc? Haven't caught up with the latest devt there. But yeah, if 54% collude to hard fork away from the main chain, that would be pretty catastrophic
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bark bark
@king
ur scaring me
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