Part 7/14:
Mining, for Bob, is both a technological challenge and a metaphorical heartbeat of Bitcoin. His background as a hardware engineer fuels his fascination with the physical aspects — the energy, equipment, and economics — that underpin network security. He describes the "mining trilemma": the delicate balance of energy supply, hardware availability, and capital.
An experienced miner, Bob talks about the cyclical nature of these factors, citing recent shifts such as China’s mining ban, evolving equipment markets, and energy constraints. He advocates using Warren Buffett’s principle — "be fearful when others are greedy" — advising careful expansion during times of abundant capital and caution when costs rise.