Bitcoin Standard Author Compares Bitcoin Mining to Bounty Program

Saifedean Ammous compared Bitcoin mining to a bounty program funding the development of off-grid energy in a Twitter thread published yesterday. Ammous notes that only serious scale miners will survive in the long run and this requires securing electricity much lower than common electricity prices. Ammous puts forward that in Bitcoin, the system incentivises the “development of cheap and isolated energy sources”.

Source: Twitter