3 ms·
No hand waving. One needs to outspend the energy (hash rate of the network) to undo transactions, censor or reorder transactions. The (probabilistic) finality o
by randomhodler84 5y ago
No hand waving. One needs to outspend the energy (hash rate of the network) to undo transactions, censor or reorder transactions. The (probabilistic) finality of the transactions is contingent on the energy spent. It’s not a complex idea.
- lottin 5y agoBitcoin's hashrate has dropped by 50% a number of times and no transactions have been undone, censored or reordered. This is pretty solid evidence that at least a large percentage (if not all) of the energy spent by bitcoin is wasted.