As long as price (in fiat) compensates for halvings security budget (theoretically) goes up. Through state regulation or market forces there can still be a concentration of mining power that actually could result in a lower security budget (easier to attack) despite rising hash rate.
Capture comes in many different flavours.
Custodial capture - got worse over time
Price capture - got worse over time
Minng capture - neutral
Node capture - neutral
Narrative capture - got worse over time
Regulatory capture - got much worse
Development capture - got worse over time
It's a constant process. All hope is not lost. But the tendency is clear. Mining and nodes are still the back bone of Bitcoin that hold up its purpose.
npub1ah…cl76e
2026-07-03 13:22:09 UTC
in reply to nevent1q…u8vm
Author Public Key
npub1ah3aj4mhfew4c7txfdd4paf3wr5syntkeyxenl9fxf9rejte2wpqwcl76eSeen on
wss://nos.lolPublished at
2026-07-03 13:22:09 UTCEvent JSON
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"content": "As long as price (in fiat) compensates for halvings security budget (theoretically) goes up. Through state regulation or market forces there can still be a concentration of mining power that actually could result in a lower security budget (easier to attack) despite rising hash rate.\n\nCapture comes in many different flavours.\n\nCustodial capture - got worse over time\nPrice capture - got worse over time\nMinng capture - neutral\nNode capture - neutral\nNarrative capture - got worse over time\nRegulatory capture - got much worse\nDevelopment capture - got worse over time\n\nIt's a constant process. All hope is not lost. But the tendency is clear. Mining and nodes are still the back bone of Bitcoin that hold up its purpose.",
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