Nope, your analyses are off.
The Costs to mine gold, are based on human payroll , equipment costs, petroleum to run the equipment,
all of which have variable factors.
This means the price to mine gold can increase or decrease , but the final decision is always , is the mining currently profitable.
In BTC, Miners with older rigs always stop mining, no more than 2 years after purchase, as the ASICS are no longer profitable.
You confuse a running network with bitcoin earning a profit.
So are you saying that bitcoin mining hardware degrades over time and gold mining hardware doesn't?The Costs to mine gold, are based on human payroll , equipment costs, petroleum to run the equipment,
all of which have variable factors.
This means the price to mine gold can increase or decrease , but the final decision is always , is the mining currently profitable.
In BTC, Miners with older rigs always stop mining, no more than 2 years after purchase, as the ASICS are no longer profitable.
You confuse a running network with bitcoin earning a profit.
Lifespan of an ASIC less than ~2 years.
https://www.cat.com/en_US/by-industry/mining/articles/mining-fleet-100000.html
Caterpillars first 793A-series truck was put into service at Sierrita in 1991, and is one of five 793s on site that have worked in excess of 100,000 hours
* 8760 hours in a year.
So the Caterpillars first 793A-series truck used in Gold Mining has lasted over 11 Years.
Still running by the way.
PoW miners go bankrupt all of the time,
And businesses go bankrupt all the time. What's your point? Bitcoin mining is a competitive business and industry just as with other industries.Point is , Bitmain is the most profitable due to having ASICS months before the rest ,
so it is a rigged game to start, and government Confiscations of BTC to resell can bankrupt even Bitmain.
Miners have to earn profit, the price of bitcoin is held lower than the breakeven point by constant bitcoin resales from government confiscations of criminals. No profit more miners go bankrupt and eventually even bitmain goes bankrupt.
Bitcoin then enters a death sprial and hodlers are locked at $0 forever.
In no other industry do drug dealers hold enough cars or jewelry or whatever to crush the world supply needs, except for bitcoin.
Government Confiscation is the 1 security flaw that bitcoin can't beat, only by decreasing the price per bitcoin to ~$100 can the markets liquidity withstand the constant sell offs. but at $100 per bitcoin , the miners all go out of business hashrate plummets, and hodlers just become morons.
4 players can control the Bitcoin network. That's why any changes in consensus, if they reduce the income of miners, are doomed to failure.
Bitcoin consumes most of the energy from mining all cryptocurrencies. Therefore, a dead end.
Bitcoin consumes most of the energy from mining all cryptocurrencies. Therefore, a dead end.
1. The 4 mining pools actually needs to coordinate the attack and mutually agree to everything.
2. The attack would work only assuming that the individual miners don't switch off their miners or switch mining pools to prevent the attack.
3. Because the pool owners clearly know that manipulating the chain is going to have a positive effect with the price right? ? ?
1. Yep, Only 4 guys need to agree, kind of funny btc is trusting a mere 4 guys for everything
2. Yes the attack will work, because the only way the individual miners know to switch is after the attack.
3. You assume the pool owners want BTC to win, each halving changes the economic profit of 3 coins BTC, BCH, & BSV
Once BCH or BSV become more profitable due to more transactions as rewards drop, their could be a mutual consensus
between operators than getting rid of btc , would make BCH or BSV even more profitable, with a simple 1 time 51% attack on btc.
Miners Greed was included in Satoshi design, but he did not expect them to be mining 3 different coins, which means their support
will sway to the most profitable for them, not others.
Ask yourself , why are the miners keeping BCH & BSV alive and kicking , it is not to help you or btc hodlers.