Can anyone help me square these opposite views about the danger of centralization within mining by @Jeff Booth and @Luke Dashjr
https://youtube.com/clip/UgkxmdFYdQqG27Hh1PzhmZCU8GQOFQByTJcF
https://youtube.com/clip/UgkxqhtvKLU-m8fUQLRCpMqkq8YcFtj9-FLH
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And in the same interview Luke predicts a 3-4% chance of Bitcoin succeeding while Jeff sees virtually no chance of Bitcoin failing…
My view is from the free market and each of us being the change - once seen- impossible to unsee and we become a part of that network through our actions in protecting it/defending it.
Reinforcing that view is actually the debate between Core and Knots right now and Luke’s worry (3-4%) driving his subsequent actions to protect #bitcoin. (Whether you agree or not) That path also has short term risk until more developers move to knots —-but new developers will move to knots if the market demands it.
The build of Datum, Blocks new chips, all of the current big centralized miners moving to AI as competition from new entrants all around the world with cheaper energy and new machines eat their margins all play into this.
Just a chaotic free market that creates options and opportunity when something or someone thinks they can control it.
Hope that helps!