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Total Economy: 0 USD
What stops the last 5 miners from out competing the others until there's 1 miner who calls all the shots?
Economics meaning other people will always try to out compete you if they can make more money. No one is barred from entry meaning your spot at number one is not a given
mooncat replied:
Right, but if one group gains a power advantage over the others then the others will be priced out of the mining race
mooncat replied:
Upgrading to new miners at some point becomes pointless if they don't match the reward
mooncat replied:
Thinking about this I come to the conclusion that there’s going to be so much at stake that miners won’t try to put each other out of business and may create some kind of pact - really this will end up becoming one entity marketed as a group of separate mining groups