Oddbean new post about | logout
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 The attainment of 100,000,000 Satoshis through the subsidity and fees is obtained with an overall lower electricity cost. 

I see that on a small scale fren with mining, so I respectfully disagree with you.  

Hope you have a great New Year! 
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 ๐Ÿพ Happy New Year ๐Ÿพ 
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 โ„๐•’๐•ก๐•ก๐•ช โ„•๐•–๐•จ ๐•๐•–๐•’๐•ฃ!  ๐Ÿพ 
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 Happy New Year! ๐Ÿฅ‚ 
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 Cheers, happy new year to you!

I just push back on the idea of โ€œ100k satsโ€ as a single measure of miner revenue.

Block subsidy (new issuance, or โ€œproductionโ€) is an entirely separate revenue stream from tx fees.  One is known and predictable, where the other is a determined by (volatile) market demand.

The cost of producing ~enough hashes (statistically) to find a block is not determined by either form of miner revenue.  It is determined by real world hardware/energy/etc costs, and how many hashes competing miners are producing.

TLDR; successful miners do a ton of financial and risk modeling for all kinds of scenarios, and invest accordingly. 
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 ๐“—๐“ช๐“น๐“น๐”‚ ๐“๐“ฎ๐”€ ๐“จ๐“ฎ๐“ช๐“ป! 
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 ๐•ณ๐–†๐–•๐–•๐–ž ๐•น๐–Š๐–œ ๐–„๐–Š๐–†๐–—!๐Ÿฅ‚ 
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