3 ms·
What about if the supposed "bubble" lasts until it's unfeasible to continue mining on the same speed as now? Eventually, bitcoin will have been mined, and then
by capableweb 6y ago
What about if the supposed "bubble" lasts until it's unfeasible to continue mining on the same speed as now? Eventually, bitcoin will have been mined, and then there is no need for as much mining, depending on transaction fees only. By then the energy use is massively lowered as well.
- deleted 6y ago[deleted]
- throwawayQuwcy 6y agoWell, the security of Bitcoin == amount of transaction fees + block rewards. The cost to 51% attack the network is opportunity cost of mining valid transactions So you either get secure wasteful bitcoin, or insecure bitcoin. Not really any other options with PoW
- capableweb 6y ago> The cost to 51% attack the network is opportunity cost of mining valid transactions Which, after the block rewards run out and the price of Bitcoin probably looks different, will still be difficult to attack. But, the mining will have stopped then. Although it's pretty far in the future presumably. Tons of other solutions than PoW as well, Algorand's PPoS is just one example.