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July 28, 2021 No Comments

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Digiconomist@mastodon.nl Follow 16,279 14,087

Exposing the Unintended Consequences of Digital Trends. @digiconomist@mastodon.nl

DigiEconomist
Retweet on Twitter Digiconomist@mastodon.nl Retweeted
DigiEconomist avatar; Digiconomist@mastodon.nl @DigiEconomist ·
7 Jun 1666457003307282434

“Bitcoin mining is not centralized because other industries are more centralized.”

Whataboutism is always a great argument, but it doesn’t fix these things 👇or the fact that a single manufacturer produces most BTC mining equipment.

Image for the Tweet beginning: “Bitcoin mining is not centralized Twitter feed image.
Image for the Tweet beginning: “Bitcoin mining is not centralized Twitter feed image.
“Bitcoin mining is not centralized because other industries are more centralized.” Whataboutism is always a great argument, but it doesn’t fix these things 👇or the fact that a single manufacturer produces most BTC mining equipment.
Daniel Batten @DSBatten

1/9

No, the Bitcoin mining is NOT centralized

For context, let's look at the characteristics of different global industries, based on degree of centralization

🧵

Reply on Twitter 1666457003307282434 Retweet on Twitter 1666457003307282434 3 Like on Twitter 1666457003307282434 15 Twitter 1666457003307282434
DigiEconomist avatar; Digiconomist@mastodon.nl @DigiEconomist ·
7 Jun 1666457003307282434

“Bitcoin mining is not centralized because other industries are more centralized.”

Whataboutism is always a great argument, but it doesn’t fix these things 👇or the fact that a single manufacturer produces most BTC mining equipment.

Image for the Tweet beginning: “Bitcoin mining is not centralized Twitter feed image.
Image for the Tweet beginning: “Bitcoin mining is not centralized Twitter feed image.
“Bitcoin mining is not centralized because other industries are more centralized.” Whataboutism is always a great argument, but it doesn’t fix these things 👇or the fact that a single manufacturer produces most BTC mining equipment.
Daniel Batten @DSBatten

1/9

No, the Bitcoin mining is NOT centralized

For context, let's look at the characteristics of different global industries, based on degree of centralization

🧵

Reply on Twitter 1666457003307282434 Retweet on Twitter 1666457003307282434 1 Like on Twitter 1666457003307282434 11 Twitter 1666457003307282434
DSBatten avatar; Daniel Batten @DSBatten ·
7 Jun 1666250151642685440

1/9

No, the Bitcoin mining is NOT centralized

For context, let's look at the characteristics of different global industries, based on degree of centralization

🧵

Image for the Tweet beginning: 1/9 No, the Bitcoin mining is Twitter feed image.
Reply on Twitter 1666250151642685440 Retweet on Twitter 1666250151642685440 30 Like on Twitter 1666250151642685440 142 Twitter 1666250151642685440
Retweet on Twitter Digiconomist@mastodon.nl Retweeted
DigiEconomist avatar; Digiconomist@mastodon.nl @DigiEconomist ·
31 May 1663866761274425346

Even after counting for the effect of reward halvings, a $1B Bitcoin would give miners more than three times the entire current US federal budget to waste on hardware and electricity (current $10 billion annually, which led to them consuming half a percent of global electricity).

Even after counting for the effect of reward halvings, a $1B Bitcoin would give miners more than three times the entire current US federal budget to waste on hardware and electricity (current $10 billion annually, which led to them consuming half a percent of global electricity).
Luke Broyles @luke_broyles

$1 billion #Bitcoin...

Fidelity's @TimmerFidelity thinks #BTC could reach $1 billion by 2038, or 15 years from today.

This would make one sat worth $10.

Who knows if 2038 will be right... However if #Bitcoin thesis is correct there is no logical conversation rate for USD. 🤯

Reply on Twitter 1663866761274425346 Retweet on Twitter 1663866761274425346 2 Like on Twitter 1663866761274425346 7 Twitter 1663866761274425346
DigiEconomist avatar; Digiconomist@mastodon.nl @DigiEconomist ·
31 May 1663866761274425346

Even after counting for the effect of reward halvings, a $1B Bitcoin would give miners more than three times the entire current US federal budget to waste on hardware and electricity (current $10 billion annually, which led to them consuming half a percent of global electricity).

Even after counting for the effect of reward halvings, a $1B Bitcoin would give miners more than three times the entire current US federal budget to waste on hardware and electricity (current $10 billion annually, which led to them consuming half a percent of global electricity).
Luke Broyles @luke_broyles

$1 billion #Bitcoin...

Fidelity's @TimmerFidelity thinks #BTC could reach $1 billion by 2038, or 15 years from today.

This would make one sat worth $10.

Who knows if 2038 will be right... However if #Bitcoin thesis is correct there is no logical conversation rate for USD. 🤯

Reply on Twitter 1663866761274425346 Retweet on Twitter 1663866761274425346 0 Like on Twitter 1663866761274425346 3 Twitter 1663866761274425346
luke_broyles avatar; Luke Broyles @luke_broyles ·
31 May 1663703755034902528

$1 billion #Bitcoin...

Fidelity's @TimmerFidelity thinks #BTC could reach $1 billion by 2038, or 15 years from today.

This would make one sat worth $10.

Who knows if 2038 will be right... However if #Bitcoin thesis is correct there is no logical conversation rate for USD. 🤯

Image for the Tweet beginning: $1 billion #Bitcoin... Fidelity's @TimmerFidelity thinks Twitter feed image.
Reply on Twitter 1663703755034902528 Retweet on Twitter 1663703755034902528 296 Like on Twitter 1663703755034902528 1410 Twitter 1663703755034902528
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