thingtank on Nostr: There is no empirical evidence that the security budget will ever be an issue. The ...
There is no empirical evidence that the security budget will ever be an issue. The trends show that even though issuance decreases over time, the hash rate increases. Even when price decreases, the hash rate increases. The talk seems very similar to the “death spiral” FUD. It always seems to be brought up by ETH bag holders in order to justify their bad life choices. The talk overlooks the complexity of mining as a business, and how miners will adapt. Even when miners live off fees alone, wasted energy will be nearly free. Few miners will shut down when energy is free, even when fees are the only block reward. Satoshi developed a durable system.
Published at
2023-09-06 14:32:02Event JSON
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"content": "There is no empirical evidence that the security budget will ever be an issue. The trends show that even though issuance decreases over time, the hash rate increases. Even when price decreases, the hash rate increases. The talk seems very similar to the “death spiral” FUD. It always seems to be brought up by ETH bag holders in order to justify their bad life choices. The talk overlooks the complexity of mining as a business, and how miners will adapt. Even when miners live off fees alone, wasted energy will be nearly free. Few miners will shut down when energy is free, even when fees are the only block reward. Satoshi developed a durable system.",
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