>It's just wasted cycles because of the economics of the damn thing. I think a lot of people miss that mining is zero sum when over the threshold that the net

>It's just wasted cycles because of the economics of the damn thing. I think a lot of people miss that mining is zero sum when over the threshold that the network needs. For example if mining hardware costs dropped by one half, people catch up and mine with twice as much computing power, the network increases the difficulty of mining by two, and the same amount of bitcoin is distributed and secured as was before the hardware innovation. You aren't mining more 'efficiently' with advances in computing power at the large scale.