[my_ghola]

I think mining should not be a way to profit. The rewards are so mining doesn't cost anything to miners. Bitcoin/Ethereum users should be compelled to mine because it means more security that no one controls the blockchain.

I wonder if there's an algorithm that could deter people from building mining farms?

[manquer]

Not that difficult.. you can always choose problems with constant difficulty level or gradually increasing ones adjusted for expected increase in computing power.

However all cryptocurrencies are pyramid schemes . I.e. earlier you get in more you make. That's fastest way to grow and make it viral. However like any pyramid scheme it is unsustainable after some point

This is not necessarily the price point we think it should be valued at though. I and am sure many ppl never expected bitcoin to have mcap of 30$ billion . As difficult it is think today It may even grow another say 30x again to 900 billion or even more. However it will crash eventually like all pyramid schemes when growth flattens and new money - in the form of money spent in mining - stops coming in at the expected rate.

Another way to look at it, for mining to be even marginally profitable price needs to keep increasing for bit coin style algorithms. Either ppl will abandon the coin or price __has__ to increase