Do you care who mines your transactions?

[Quantum_Resolve7987V]

All this talk about miners dying, sovereigns taking over, etc. 
Article: https://cointelegraph.com/magazine/bitcoin-mining-industry-dead-2-years-halving-bit-digital-ceo/

Question: do you care who mines your transactions — or are you happy letting governments do it for you?

[OcTradism]

All this talk about miners dying, sovereigns taking over, etc.  
Article: https://cointelegraph.com/magazine/bitcoin-mining-industry-dead-2-years-halving-bit-digital-ceo/

Question: do you care who mines your transactions — or are you happy letting governments do it for you?

Use non custodial wallet, run your bitcoin full node, manage your UTXOs, change addresses well, and broadcast your transactions from your Bitcoin full node and with Tor connection, you will be well and don't have to worry about which mining pools, miners will mine your transactions.

"Bitcoin mining will be dead" as Bitcoin (block subsidy) halving effects has been discussed many times. It's a kind of "Bitcoin is dead" FUD too because Bitcoin blockchain is Proof of Work and without Bitcoin mining, the blockchain will be dead.

Fortunately, it has never been dead since 2009 and in 2023 and 2024, there were times that Bitcoin miners earned a lot of money from Bitcoin transaction fees. It's case studies on how Bitcoin miners can survive when Bitcoin block subsidy halves more and more with market cycles. Their main income will be from Bitcoin transactions and it has been proven since 2009 and more strongly demonstrated in 2023 and 2024 with Ordinals and Runes protocol transactions that overload Bitcoin mempools.

Inscriptions, Mempools, and Miners.

[Die_empty]

All this talk about miners dying, sovereigns taking over, etc.  
Article: https://cointelegraph.com/magazine/bitcoin-mining-industry-dead-2-years-halving-bit-digital-ceo/

The concern of the author OP quoted is about the cost of mining. He believes the government will move into mining because of its access to cheap electricity. I see this article as promoting FUD because there will always be cheap electricity for individual or corporate miners. Sam Tabar is just using this opportunity to promote Ethereum. Maybe we might have to bump this thread after two years to discuss the outcome of his predictions.  

Question: do you care who mines your transactions — or are you happy letting governments do it for you?

I want Bitcoin to maintain its decentralized nature. Mining shouldn't be dominated by the government because they can use it as a tool to of control.  

[davis196]

All this talk about miners dying, sovereigns taking over, etc. 
Article: https://cointelegraph.com/magazine/bitcoin-mining-industry-dead-2-years-halving-bit-digital-ceo/

Question: do you care who mines your transactions — or are you happy letting governments do it for you?

I don't want to read this article. There's no point.
1.Who is talking about "miners dying"? Some miners are leaving the business, while others are joining. The same applies to every industry.
2.The governments would rather ban crypto mining completely, instead of joining the mining industry and investing millions of taxpayer's money into mining equipment and facilities.
3.AI data centers would pump the electricity prices, so cheap electricity might become a thing from the past. This might bring lower profits for the crypto miners, but I think that the mining difficulty will be adjusted, since more of the miners would stop mining.
4.I totally do not care who is "mining my transactions". Should we even care about this?

[_act_]

Question: do you care who mines your transactions — or are you happy letting governments do it for you?

What I do not like is if bitcoin transactions will be censored. Bitcoin miners can be able to do that but they did not do it. If it is governments that are mining bitcoin, they can think that they have the power and start censoring transactions. I will not like government to be mining bitcoin. How it is now is not bed at all in a way that it is only few hash rates are the government (like the government of Bhutan) is contributing. But if it gets to the point of governments dominating, it is not a good thing.

[capsqrl]

There's something funny about miners crying in the media.

Tabar says the block reward halving last year “was a disaster”

Yeah, well, mining is supposed to be low-margin, and every halving causes some miners to fold and creates opportunities for new entrants.

If sovereigns want to mine, go ahead. I don't care who mines my transactions as long as it's done according to the consensus rules I subscribe to.

Good luck to Bit Digital and their new Ethereum treasury strategy. GLHF.

[OgNasty]

Do I care who mines my transactions? No. It doesn’t make any difference to me. However, I can see the dangers of having any one entity get too much power over the network. Whether that is a government, individual, or a company. The best thing for Bitcoin is obvious and that is a decentralized mining network.

[joniboini]

I guess it depends on what "government doing it for me" means. Will this mean an algorithm change, will they record my IP and connect it to a database to track me, and so on? I find it hard to believe the network will be sustainable if that were the case. Unless the network becomes really fast and allows so many people to send transactions with a lower fee, even if I can accept it, the network won't last long.

The average joe probably won't give a damn about it either, but they will certainly protest if their transaction takes a long time to get through.

[The Cryptovator]

Question: do you care who mines your transactions — or are you happy letting governments do it for you?

Bitcoin is the symbol of decentralisation, so anyone could mine Bitcoin if they want, whether it's an individual or the government. So it doesn't make sense to care about who has been mining Bitcoin blocks. I just need to make sure that transaction has been confirmed. I am the owner of my funds, and I have to make sure sent funds have been received by the receiver address. Unless someone gains major hash power, then really it doesn't matter if concerned.

Can I ask why you are concerned about who is mining Bitcoin? Do you feel if the government is involved with mining, then there is any potential risk for Bitcoin users? If you have any concerns, then you can share them here. So we can discuss that specific issue.

[nemesis_incarnate]

As long as no party takes the most mining power to themselves and the consensus is the same: it's okay, because anybody with knowledge and resources can mine.

[Helena Yu]

I don't care who mines my transaction, but I care if miners become more centralized.

This is scary actually if government is the one who mine our transactions, there's no room for tainted address.

Use non custodial wallet, run your bitcoin full node, manage your UTXOs, change addresses well, and broadcast your transactions from your Bitcoin full node and with Tor connection, you will be well and don't have to worry about which mining pools, miners will mine your transactions.

Wait, those things doesn't make you're anonymous for the miners because they can know the address you use.

You can't solve the "tainted address" problem with any way except you're the miner, even you want to mix your money/trade via P2P, it's not possible since the miners blocked your address in the first place.

[ABCbits]

“A few years went by and we realized — and I think the other miners are finally realizing this, that that is a very shitty business,” he says.

Tabar says the block reward halving last year “was a disaster” and predicts the next halving in two and a half years’ time (April 2028) will be the death knell for many of the remaining miners, as it will halve their revenue once again.

If miner truly think halving is disaster, then i would question their long term planning. They should've considered halving and other factors (e.g. difficulty that almost always rising) before deciding whether to mine Bitcoin.

Question: do you care who mines your transactions — or are you happy letting governments do it for you?

Rather than who include my TX on block they mine, i have more concern whether the miner perform activity that usually deemed malicious such as 51% attack, selfish mining or intentionally censor/exclude TX).

[HONDACD125]

Fortunately, it has never been dead since 2009 and in 2023 and 2024, there were times that Bitcoin miners earned a lot of money from Bitcoin transaction fees. It's case studies on how Bitcoin miners can survive when Bitcoin block subsidy halves more and more with market cycles. Their main income will be from Bitcoin transactions and it has been proven since 2009 and more strongly demonstrated in 2023 and 2024 with Ordinals and Runes protocol transactions that overload Bitcoin mempools.

The reason miners earned a lot of money from transaction fees between 2023 and 2024 was due to network congestion. Fees were excessively high, and hence every block was having a very high amount only in transaction fees apart from the block reward it would get to the miner that mines it. However, since we know a large percentage of people and entities weren't making transactions during that time and waiting for the network to get normal because of how high the fees were, the question that arises is, will people or other entities be using Bitcoin network if that becomes the norm?

What I mean is that if Bitcoin's transaction fees usually stay that high and network always stays congested, will it be a priority for transactions? Because no matter how valuable it becomes, affordable transaction fees and quick confirmation times will always matter for those making on-chain transactions, and if these are missing, things might start to take a negative turn.

[Alpha Marine]

I don't want to speculate on what the article promotes, but from reading it, you can see that he doesn't care about Bitcoin, he doesn't believe in it; he just cares about the profit. And that is totally fine, but he shouldn't spread FUD.
He's complaining simply because he's not making as much profit as he used to. The profit he was making when a block reward was 6.25btc is not very different from what they're making from the current 3.125btc reward, but make no mistake, it is still profitable. Even though electricity is expensive, the profit is substantial enough.

What he fails to understand is that the more the halving, the more Bitcoin price increases. It won't stay at 113k forever, and the higher the price, the more profit they make. Bitcoin mining will always be a viable option as long as it remains profitable, and as long as there is money to be made, companies will continue to find ways to stay profitable.

He believes accumulating Ethereum is better than accumulating Bitcoin, which is funny

[hd49728]

If miner truly think halving is disaster, then i would question their long term planning. They should've considered halving and other factors (e.g. difficulty that almost always rising) before deciding whether to mine Bitcoin.

Big mining companies actually have deep budget for their business and if they had experience from previous halvings, they will prepare their money for purchasing discount ASICs from weak mining pools.

Around the 2024 Bitcoin halving, I read news about minings planned for this mining rig purchases with good discount from other weak mining pools' capitulations.

Big and strong miners do know about Bitcoin total supply and its new coins releases by halving cycles so they do prepare their strategic mining very well.
The Economics of a Bitcoin Halving:
A Miner’s Perspective

[Ucy]

Doesn't matter who mines the transactions since they will be subject to Bitcoin rules, otherwise Bitcoin-friendly ones will do their job or take their place. For example, a government controlled miner could be told to censored certain transactions, if they decide to do that, the free miners in other places will accept the transactions, and the controlled ones will lose the transaction fees. This is the point of decentralization — as control or power does not reside in few privileged hands. If the few refuses to do their jobs, nothing within the Bitcoin rules prevents others from ignoring them and taking over the jobs. And the nodes watch one another to ensure that the Bitcoin rules/principles are not violated

[Mahiyammahi]

All this talk about miners dying, sovereigns taking over, etc. 
Article: https://cointelegraph.com/magazine/bitcoin-mining-industry-dead-2-years-halving-bit-digital-ceo/

Question: do you care who mines your transactions — or are you happy letting governments do it for you?

Well didn't  cared about it before. You bring something new to me. Basically I ain't care about it. Cause miner's job is mine btc and complete btc transaction. Although it's not centralized so it's not possible to track you , so I think it ain't matter who completed my transaction. Imo it ain't that big deal . But I saw an article that miners are taking losses for mining Bitcoin. That could be serious issue for now

[Cryptohygenic]

Question: do you care who mines your transactions — or are you happy letting governments do it for you?

The bitcoin core is decentlized and universally on-chain so whoever mining whether private or public, the protocol can not be altered.
There are also lot of countries and governments sponsoring and encourages its citizens to mine and they get taxed on profit making to generate economy revenues.
Despites all the association with bitcoin it can never be regulated.

[driverom]

All this talk about miners dying, sovereigns taking over, etc. 
Article: https://cointelegraph.com/magazine/bitcoin-mining-industry-dead-2-years-halving-bit-digital-ceo/

Question: do you care who mines your transactions — or are you happy letting governments do it for you?

No I don't care who mines it I care to be confirmed as soon as possible as one time I paid low fee and my transaction took over 12 days to be confirmed which it sucks

[tabas]

It's the same thing as asking if people care when the governments and the financial institutions have started buying Bitcoin and holding it. If they take over and gets the most share of the mining of blocks, can we stop them? no. But I think that any other entities that have the money to take a huge share in the network will also do it. What they only need is power and equipment and if they're ready for that, they'll also take the difficulty seriously because it's not only a one time thing that they should think of it about mining.