if miners aren't looking to maximize profits, Bitcoin is broken.
the game theory of Bitcoin depends on miners maximizing profits.
so far, mining is highly competitive, has very slim margins and if miners DONT maximize profits and seek out cheap energy, they will fail.
Login to reply
Replies (1)
yes they will, and the network will adapt to them failing. it's called the difficulty adjustment.
bitcoin game theory depends on cooperation and consensus, and v30 isn't included.