Hashrate Collapse, BIP-110 Chain Split & Banks Will Mine Bitcoin | Bob Burnett
About this episode
Bob Burnett discusses the decline in Bitcoin's hash rate, the implications of BIP-110, and the future of mining by banks and nation states.
Mentor Sessions Ep. 083: Bob Burnett explains the Bitcoin hash rate decline, BIP-110 chain split, nation state mining, and why banks will mine block space. Bitcoin's hash rate has been declining for nearly a year for the first time in 16 years — and Bob Burnett of Barefoot Mining explains why it keeps falling straight through the next halving. This is the mining reset almost nobody is pricing in. In this conversation you'll learn why the big publicly traded miners quietly shed Bitcoin and pivoted to AI and data centers, why Bob believes financial institutions and nation states (Iran included) are the real next entrants — not energy companies — and why they'll mine for block space control rather than the coins themselves. You'll see how the BIP-110 (RDTS) activation at block 961632 in mid-August could trigger a chain split, exactly what miners and plebs should do before that block, and why the fight is really about Core's process and the SegWit discount, not just spam. Bob also breaks down the miner's trilemma, virgin Bitcoin premiums, and why the depths of despair is historically the best time to enter mining. ⏱️ Timestamps: 0:00 - Intro 1:11 - Harsh reality of Bitcoin mining in…
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