If everyone is mining, then who is the one buying? I don't think mining would be profited for everyone unless people wants to get richer in more time.
NOBODY is mining, because your can't make a profit anymore, more people are turning off the their btc servers than setting them up,
The issue here on gambler's ruin, is not mining, because that was essentially free at the start, you just ran on idle cpu cycles and you got free bitcoin in 2009, that was the model, parity for all,
Post 2014 something twisted happened assholes ( exchanges, trading-houses ) descended upon bitcoin and offered 'speculation', now speculation by definition is a roll of the dice 50/50 at best,
Now the paper of Satoshi, was completely about this F=2*p-1, if p>51% you win but you don't play a 50/50 game, you invest zero
Today of course btc is 100% speculation mining is dead and gone,
People are supposed to BUY btc to the moon, trouble is there are no new suckers, ...err I mean buyers
IMHO btc was never meant to be traded like 'cards', its just a p2p way to move funds between A&B, nothing more, not a bank, and certainly not an 'investment'.
Actually calling BTC an investment is the worst kind of word, because its a p2p temporary store for money from A2B, when you leave money on the table in BITCOIN you risk losing all your money, but on the short-term the risk is low, maybe 10%, which is ok if your escaping nazi-usa to new-zealand or soemthing like that, ... but long term holding assets in bitcoin is insane.
