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Potato/potato The bitcoin advocates like to pretend this is somehow about "securing the network" instead of pure greed, but it doesn't matter either way. Even
by ForHackernews 6y ago
Potato/potato
The bitcoin advocates like to pretend this is somehow about "securing the network" instead of pure greed, but it doesn't matter either way. Even if we take them at their word, the miners have to keep pouring in more and more energy or risk a 51% attack.
- bouncycastle 6y agoNo, that's incorrect. More energy does not mean more secure, and it's a common fallacy in bitcoin. If you read bitcoin.pdf, the security depends on the % of miners that are honest. In a nutshell, more energy just means that the "difficulty" goes up, i.e more hashes are required, but that's nothing to do with security.