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> That's all the security Bitcoin needs, more security than that is waste with no benefit. This is a fundamental misunderstanding of security spend. You just
by rfd4sgmk8u 5y ago
> That's all the security Bitcoin needs, more security than that is waste with no benefit.
This is a fundamental misunderstanding of security spend. You just don't know how much is enough. If you could provide a trustless (or.. maybe even useless, trusted) mechanism for determining appropriate security spend, there is many Billion dollar industries that would love to hear it.
- rspeele 5y agoI agree that I don't know how much is enough, and that nobody really can know how much is enough. But that doesn't mean it's impossible to overspend on security. Bitcoin's model for how much to spend is basically just "pick a number". Right now it's 37.5 BTC per hour. In 2024 it will be halved. Is it way too much now? (I suspect so, but I don't know so). Will it be too little after the halving? (Probably not). The next halving, or the one after that? Who knows.