Miners are price-takers and so only the few that are profitable will survive, those who can’t stay in profit to cover their high costs will go insolvent and disappear. The fees are competed down by miners, with miners who are in areas of cheap electricity able to charge much lower fees due to lower average costs (from cheaper electricity). Therefore, only the miners in the areas of the absolute cheapest energy will survive. Won’t this end up causing mining to slowly centralise over the long run, as only miners in the areas of the absolute cheapest energy can undercut their competitors and stay in profit?
Lightning slowly reached 5k BTC locked !!! Amount locked growth is inversely correlated with BTC price (-71.25%) ?!?! Addresses that HODl more than 1K USD worth of bitcoin in the past year on the decline (77.18% price correlation).
Total BTC amount locked by the existing channels on the Lightning Network.
British citizens seek safety in BTC as central banks lose faith in them. – cryptowiky
Bitcoin is a convenient method of payment and a reliable store of money for many fans. It is becoming more and more popular, particularly in developing
Technology: University of New Mexico researchers find Bitcoin mining is environmentally unsustainable
Taken as a share of the market price, the climate change impacts of mining the digital cryptocurrency Bitcoin is more comparable to the impacts of extracting and refining crude oil than mining gold, according to an analysis published in Scientific Reports by researchers at The University of New Mexico. The authors suggest that rather than being considered akin to ‘digital gold’, Bitcoin should instead be compared to much more energy-intensive products such as beef, natural gas, and crude oil.