At scale, the costs to mine are FAR lower than the existing drops in the market. Articles like this are quite wrong... it is only unprofitable for smaller miners.
So this will lead to less smaller miners and more concentration of power for the big ones
Plus, solo mining is just more financially risky. Unless you have a couple percentage points of the total hashrate, it just doesn't make financial sense.
Even then, large miners will negotiate deals with the pools for a lower % take of the fees. Those fees effectively pay the pool for their own costs so that the miner doesn't have to worry about the rest.
So, the only real centralization is with the pools and as we've already seen in the past [1], as soon as a pool gets to 51%, miners switch to another pool (which is quite easy and not a lot of effort).
That's not guaranteed.
"Since no long-term solution to the 51% problem is known, the participants agreed to implement some temporary measures. GHash.io released a voluntary statement promising that it would not exceed 40% of the overall bitcoin hashrate"
you mix things up.
you mean fix and var costs.
https://www.investopedia.com/ask/answers/112814/whats-differ...
Capital expenditures (CAPEX) are major purchases a company makes that are designed to be used over the long term. Operating expenses (OPEX) are the day-to-day expenses a company incurs to keep its business operational.