RE: https://mastodon.social/@elasticsoul/116030815240351773
I've long believed Bitcoin is impossible to "kill" but a possibility that didn't occur to me is mining a bitcoin block could start to cost more than one acquires from mining a bitcoin block. And the compute cost of making a block *does* increase w/ time.
This *seems* to show the lines crossed, but 2 questions I have:
- If the number of miners participating decreases, does the cost of mining one Bitcoin decrease?
- How much does earn get in "tips" while spending that $87,000 to mine one Bitcoin?