Coinbase mining at a loss makes it more difficult for other miners to turn a profit?
The profits for miners = the security budget. The chain will work fine regardless, it's just less secure.
The profits for miners = the security budget. The chain will work fine regardless, it's just less secure.
As it happens, mining is currently also subsidized by a bunch of retail investors flocking into the publicly traded miners, given that most of them are currently losing money per coin on a unit basis once hardware depreciation is factored in.
I suppose it's one possible future, but I'd be shocked to hear a bitcoiner say it, since it would effectively turn a decentralised chain into a chain run by a consortium of large financial companies.
(I also think it overestimates the power that miners have to unilaterally hard fork and have the community accept it, but so goes)