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No need to speculate, look at the price and hash rate charts in 2017. The more recent hashrate drop was even bigger. Still no successful attacks. There's a dis
by thebean11 5y ago
No need to speculate, look at the price and hash rate charts in 2017. The more recent hashrate drop was even bigger. Still no successful attacks.
There's a disincentive for people with mining power to attack the network (assuming they even have enough). It makes their hardware worth less so I can't imagine anyone doing it for kicks.
Agree though that something similar to what you're saying is what Bitcoin hitting $0 would look like. Certainly not impossible but I think it's extremely difficult attack. Even more so now than in 2017.
- Retric 5y agoYea, I think that’s more a risk of dropping the last 1% in value rather than a significant risk to current prices. The real issue for current owners is Crypto seems to have lost it’s grip on the popular imagination. https://trends.google.com/trends/explore?q=bitcoin https://trends.google.com/trends/explore?q=bitcoin What happens from here is likely a question of utility rather than speculation.
- thebean11 5y agoTry "web3", "smart contract", or "NFT" though. I think there's a shift from focusing on the protocols themselves to stuff built on top.