The Law of Diminishing Returns

Mining is a, it's very much an embodiment of the law of diminishing returns. You can actually make somebody else's profits go down and make their block rewards go down by acquiring some block rewards yourself. So you can F with your competition in pretty serious ways in Bitcoin that are not possible basically in anything else we know. Yes, yes, highly sensitive to the market price of the commodity which is more volatile than many others. This is fundamentally a strange thing. It's the most abstract and the most real thing simultaneously. Yeah, concrete does not mean real abstract things can be real too. As a philosopher, I very much believe this.

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