> or crypto as a whole collapses >100x. The latter would completely destroy PoW security I don't see why. Security depends on the ratio between amounts traded

> or crypto as a whole collapses >100x. The latter would completely destroy PoW security I don't see why. Security depends on the ratio between amounts traded and amounts spent on mining. A 100x price reduction equally affects both. Yes, it becomes 100x cheaper to rewrite history, but the proceeds of any such rewrite are also 100x less, so security is not impacted much. To wit, when Bitcoin was worth only $30, its PoW security was not the least bit destroyed.