You don’t really get how mining pools work. It’s not a monolithic thing. well OK MARA is a proprietary pool, but the rest are made up of people contributing hash. If a state actor took over a pool, we could spin up another quick smart. Hash is fluid. Try that with slashing and stake lockups and others nonsense PoS invents to do a worse job.
everfree|9 months ago
The last time a "person" was able to mine Bitcoin at breakeven was around 2017 or so. Maybe 2020 or 2022, if you threw the dice on buying ASICs from shady companies, hired an electrician to install a new circuit, then filled your home office with 10,000W of equipment.
In contrast to stake as an individual, you don't need special access to electricity or agreements or anything. Just buy tokens and run them on a mini-PC that costs less than a grand. The minimums are low due to DVT.
> Try that with slashing and stake lockups
I don't see how slashing is relevant to the conversation.
As for lockups, it's much easier to wait a few days for stake to unlock than to try to sell a bitcoin mining ASIC. It's also less counterparty risk and a much more liquid market.
proxynoproxy|9 months ago
what you are missing is that PoS coins are printed from nothing. The original sin. From nothing. Worth nothing. PoS is a Ponzi to dump worthless tokens on you. You can’t escape that.
PoS trends to zero. I can’t believe we are still arguing this with >2T market cap for BTC and ETH has actually shrunk since it moved to PoS. It’s going in the wrong direction…