npub13t…twvcs on Nostr: hashrate follows price. it's a function of price and it's a free market. you will ...

hashrate follows price. it's a function of price and it's a free market. you will always have the correct equilibrium of hashrate for the current bitcoin price/market cap. You get the security needed for the market cap value. Then there are a lot of factors, there's the production cost and bitcoin price, even if bitcoin price stays the same after 4 years there's also the efficiency gains in production that offsets that. Miners market adapts, that's why hashrate was lower than now even when block reward was a lot higher, that's why hashrate drops when price drops, even though that even on bear markets hashrate goes to ATHs. It's a free market and they adapt and compete. bitcoin mining is still in early times, hashrate will be a lot higher in the future. We don't need to try to to fix the "weather" its all equilibrium, it will sort itself.