tl, dr
Ok. (was that too long?)
Topic: Mining too centralized? (Read 382 times)
tl, dr
yes, mining is centralised. It's the conequence of the high inflation.
yes, mining is centralised. It's the conequence of the high inflation.
Could this eternal question be answered by the current volatility? Pure speculation, but I'm pretty sure that's why I'm posting in this forum. Let's say there's a company out in china that sells miners and accepts Bitcoin. Maybe their name starts with a B and ends in an N. They release a new, more power-efficient product for mining, and miners everywhere start buying up bitcoins to buy their miners with. Maybe this company has some sort of deal with their gov't where they have to keep a certain amount of their revenue in their own fiat currency, and only x amount of bitcoin? This company has to sell some coins, because they sure as hell aren't paying the majority of their workers with fucking bitcoin. When the company dumps its coins to the market, the shit hits the fan, and other mining companies try to cash out into their own fiat so they can pay their laborers. Is this possible? Is it practical?
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