PoW mining: the role of producers in Bitcoin’s market structure

Presentation from the Greek Cryptocurrency community meetup on the 25th of April 2020.

Miners are not capitulating (yet!)

A tweetstorm looking at on-chain flows in and out of tagged miner addresses, at a time when the crypto-twitterati were snowballing into the narrative that the recent price action was instigated by unprofitable (or close to being unprofitable) miners selling down on their BTC stock.

With all the talk on $BTC miner capitulation, it's a good time to look at what kind of story the data tells - with a little help from @thetokenanalyst.

A short thread 👇🏼

— elias.eth (@eliasimos) November 20, 2019

The evolution of the Bitcoin mining landscape

A short twitter thread on the evolution of the mining landscape in Bitcoin. In the short space of 10 years, we have gone from cypherpunks and GPU’s, to pre-IPO behemoths and ASICs. Will it be sovereigns next?

What you see below, is the distribution of miner rewards in $BTC terms, since the first block was mined.

If you squint a little, you can discern 3 distinct developmental phases. Let's call them;

1) the hobbyist era
2) the exploration era
3) the professional era

A short thread pic.twitter.com/Hp5i80AIOe

— Elias Simos (@eliasimos) August 1, 2019