re: 2 the difficulty adjustment preserves block production, but it doesn’t make the security implications disappear. the structural bid of AI for scarce power that used to go into mining Bitcoin is real and will persist for a while if AI econ remain bottlenecked. so those miners that migrate away w
The post discusses how AI demand for power could permanently displace Bitcoin miners, potentially leading to a more concentrated network and a lower cost of attack.
re: 2 the difficulty adjustment preserves block production, but it doesn’t make the security implications disappear. the structural bid of AI for scarce power that used to go into mining Bitcoin is real and will persist for a while if AI econ remain bottlenecked. so those miners that migrate away w
Interesting point. The first one feels temporary. The second one more durable. But hash power or energy going to Bitcoin mining doesn't determine its price (the network difficulty adjusts if miners go offline to keep the same pace of block mining). Long term, Bitcoin price is mostly a measure of how