makeasnek on Nostr: Yes. The downside is that the amount of hashpower the Bitcoin network can purchase is ...
Yes. The downside is that the amount of hashpower the Bitcoin network can purchase is the block subsidy + fees. This is the "security budget". Bitcoin is only secure because getting 51% of the hashpower of the network is either infeasible or economically not worth it. Subsidy cuts in half every so often until it hits basically zero. So long-term, fees need to provide this budget. Cleared mempool = very low fees = low security budget.
Published at
2025-02-02 00:11:03Event JSON
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"content": "Yes. The downside is that the amount of hashpower the Bitcoin network can purchase is the block subsidy + fees. This is the \"security budget\". Bitcoin is only secure because getting 51% of the hashpower of the network is either infeasible or economically not worth it. Subsidy cuts in half every so often until it hits basically zero. So long-term, fees need to provide this budget. Cleared mempool = very low fees = low security budget.",
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