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If a halving forces a bunch of miners off the market (because their expected revenue drops below operating cost), there could be a huge glut of hardware floodin
by paulgb 5y ago
If a halving forces a bunch of miners off the market (because their expected revenue drops below operating cost), there could be a huge glut of hardware flooding the market that is not profitable for honest mining but allows a bad actor to temporarily accumulate hashrate.
- xiphias2 5y agoBitcoin's price goes up faster than the effect of the halving (16x vs 0.5x every 4 years), and with the current chip shortage and slowdown of improvements miners generally plan for 4 years, but old, inefficient miners with low utilization can become an attack vector.
- adgjlsfhk1 5y agoIf your security model requires exponential increase in the value of crypto, it's a bad security model.