[everfree]

One bitaxe costs $145 and runs at about 400GH/s. That's $0.02 per day in gross revenue, before electricity expenditure. It breaks even at $0.05 per kWh, which is an electricity rate so cheap it's impossible to get most places in the world. Mining 20 sats per day - which are worth a tenth of a cent each - is completely meaningless.

Even if you could somehow get completely free electricity, you need to buy 1700 bitaxes at a cost of $240,000 to earn a modest $1k per month, or 5% annual return initially, which dwindles quickly as ASIC technology improves year-over-year. You never reach breakeven.

So the bitaxe is a novelty item. Economically viable mining is indeed just farms now.

> what you are missing is that PoS coins are printed from nothing.

Satoshi's coins were printed from running some lines of C he wrote on a desktop computer. That's just as "nothing".

> The original sin. From nothing. Worth nothing.

That's not how economics works. See my other reply about how software also comes "from nothing" but is obviously not worth nothing. All intellectual property comes "from nothing", but intellectual property powers the modern economy.

> PoS trends to zero.

Opinion.

> 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…

Cherry-picked timeline.

[proxynoproxy]

Cherry-picked timeline… It’s reality dude! It’s the timeline that reflects reality in 2025.

Of course if you imagine a reality where ETH PoS was the best and the coin was worth $100k/ETH post merge you could say that. But that’s fantasy. It’s worth less per unit than when it was POW.

[everfree]

This subthread is about mining pools and I made my argument about bitaxe. You didn't address it at all.