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But if one miner has a significant advantage for a long enough time then mining will become unprofitable for everyone else, ultimately leading to nearly complet
by tlrobinson 10y ago
But if one miner has a significant advantage for a long enough time then mining will become unprofitable for everyone else, ultimately leading to nearly complete centralization.
- Taek 10y agoPeople forget that profits can be reinvested. If one miner has 10% extra profits, they will have 10% extra hashrate growth. This leads to effective monopoly.