Oddbean new post about login | logout I think it’s helpful to think of that lone solar panel as being a vulnerable military or political target, and instead figuring out how to get miners in every jurisdiction.
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I guess it all comes down to the value of Bitcoin itself, which is broken down into its constituents. For example: - price of mining equipment - price of energy - value of the ideology If you can get all the items for less than market price, then mining Bitcoin is worth it. I expect once we get to a certain block reward, the value of the ideology will need to go up
It’s possible that the difficulty adjustment will always make it worthwhile for tons of people to mine