I used to think that not many people were still mining, but it turns out the posts about mining coins still have a considerable amount of reading. Also, some interesting projects have started to emerge recently, which feels a lot like the atmosphere after September 15, 2022.

For now, we first need a strong major player to pull a leading coin up, and then the wealth effect will spread to other projects.

Otherwise, if miners just keep shilling each other, it will lead to price dumps and going to zero, and no project can survive.

Especially now that the big mining whales are basically in China and Russia, these people only sell and don't hold coins or actively make markets. After all, these two groups basically control the world's most advantageous energy resources and equipment supply chain advantages. If you can make money by mining and selling, why not sell?

Additionally, now the big mining whales even inspect each other's machine counts on site and then form alliances to dominate. This has become even more specialized. A group of people with thousands or hundreds of machines cooperate and divide labor, and the old checks and balances between mining whales are gone. This is the current state of POW. As a small miner, you need to figure out your own strategy to deal with this situation.