@Crypto Panter
I need some clarification, so I hope you can help me better understand if there's any significant difference between Bithority's rental services and other established hash rate rental services.
In connection with issues surrounding the centralization of mining, it's worth noting that we already have a few products specifically made for home miners who have smaller budgets [production of such rigs appears to be on the rise].
Thanks for asking... So regarding current hash-rate rental platforms (apart from many of them that are scams or called cloud mining), we can name several defects including: They are centralized, NOT trustless, and they don't create bilateral dependencies between miners and investors. I assume the two first points are clear so i go for the 3rd one.
In all of current hash-rate renting platforms, miners have the upperhand! It means they sell part of their Bitcoin hashrate without being dependent on investors! So what happens is that they are currently renting their hashrates in prices that are NOT economical for real Bitcoiners/investors! They can also cancel or change their plan of sale upon their will! No say of clients/users in the sale plan. And this won't make any dependency for them on retailers, and as a result, their main source of investments will still remain from corporate/institutional investors NOT retailers!
Being dependent on institutional budgets make them more centralized and away from retail communities of Bitcoiners!
I believe that if the mining force is going to be more decentralized then miners have to rely on non-KYC (unknown) retailers' budget rather than corporations assets (which states can easily rule them)
💡 Now, the Bithority economy, can make attracting benefits enough for miners to urge them come on the protocol and raise fund for their operational costs from retailers!... Benefits such as: quick non-KYC fund-raise (dodging all bureaucracy, jurisdictions, funding obstacles, credit demonstration, third-parties verifications, etc)
