Question re hashrate. At what point does it not need to increase anymore before it’s pretty much secure from everything? It keeps hitting new ATHs
Discussion
It’d be cool if there were a good way to scale hash rate based on the current threat level.. we’d need some sort of oracle though… and so it is blind.
I think the answer would be “How much do we need to be deemed impossible to attack” and that will vary based on who is in world power and how determined they are in a given moment.
This brings to mind the history of castle design and how impervious fortresses were repeatedly rendered vulnerable to new developments.
Interesting response, thanks. Scale based on threat level seems a logical answer
It's just a start)
When we understand that it was a mistake) we will need not to increase the network. but to connect new users. we can now mine on a cell phone)
every device is looking for its own number!
It’s an open market competition. Hashrate will continue to rise as long as there are market incentives for it to go up. Security is a by product of a natural market incentive to mine Bitcoin. I believe that in the long run mining will naturally be incorporated into the existing energy infrastructure and thus hashrate will naturally grow at the pace of humanities energy needs.
Energy cost goes down in time due to innovation. Therefore hashrate will go up forever to continue securing Bitcoin.
Forever, Laura?
It will decline when miners disengage for economic reasons. When they do the difficulty adjustment kicks in and stabilizes economic incentives. Sawtooth up until adoption is widespread then it will correlate with macroeconomic mileu. OR…it will go up forever Laura!⚡️