Bitcoin's Miners Are Doing Pretty Well

GBTC has outperformed Bitcoin this year, but pretty much nothing else in crypto land has with the exception of a few smaller protocols. All despite activity going through the roof, all of those fees are paid not to the holders of Bitcoin, but to an extractive third-party entity, miners. And so, what you get is you just get a worse dynamic because the more activity that exists on Bitcoin, actually, the more supply of Bitcoin is probably going to hit the market. It also deteriorates the user experience.

Transcript

Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app