Do I understand it correctly that the mining isn’t gonna grow much further from here on?
I know it fluctuates, but it appears hash rate has reached somewhat of a saturation point with mining firms going bankrupt sometimes. Since the difficulty adjusts, and energy prices are what they are, and the amount of coins rewarded is hard-coded, there are levels when mining becomes unprofitable and then stagnates.
I know that with Bitcoin value rising faster than inflation, mining becomes more profitable, but hash rate it's not just gonna grow indefinitely. Does that all make sense?
And then, if that is so, whoever created Bitcoin must have also researched the amount of available energy on the planet and how much of that to allocate to mining.
submitted by /u/choochoomthfka