VarMur on Nostr: #Bitcoin does not have a security budget. This makes no sense. You could call this ...
#Bitcoin does not have a security budget. This makes no sense. You could call this the censorship resistance budget, but it is not a budget, it is a market price.
There is no minimum average block reward under which bitcoin becomes insecure. At worst, transactions can be censored, but the security of coin ownership is unaffected.
The censorship resistance price is dynamic. If censorship occurs, it remains for the censored transactions to increase fees, to overwhelm the censors. The censor can never win for perpetuity, nor can the censored parties.
There is no minimum average block reward under which bitcoin becomes insecure. At worst, transactions can be censored, but the security of coin ownership is unaffected.
The censorship resistance price is dynamic. If censorship occurs, it remains for the censored transactions to increase fees, to overwhelm the censors. The censor can never win for perpetuity, nor can the censored parties.