What is bitcoin secured by?
I’ll give you a hint, it’s not sha-256, POW, the difficulty adjustment or the good vibes of Bitcoin believers.
Discussion
Must be the sound of energy hornets, then.
incentives, self interest, can be reduced to greed i guess.
Big tiddies and beer.
Wallstreet bros and investment companies spending people's retirement savings?
Idk nah they're all shitcoiners that just try to use Bitcoin for pumping and dumping.
Game theory
NUMBERS.
It’s ability to defend the properties that make something money.
Loss aversion?
The inevitable demise of fiat
Digital battery? Haha
Greed
You sir are correct, but I can’t zap you.
Don't care, you answered a pleb. Good enough
Setup your wallet bro It’s worth 61,500 sats
BULLETS AND BOURBON
The people? 🤔
Nodes
It transmutes greed into security. Modern day Alchemy.
The self interest of the network participants & your ability to maintain exclusive access to a secret.
MURICA FUK YEAH
The relentless, undying insistence that there will never be more than 21M (and other important properties).
🧑🔬 Technically, Bitcoin’s security budget is directly proportional to the total cost of the proof-of-work performed by the honest network per unit time.
The same thing our country is secured by, the threat of violence. The difference is that Bitcoin is secured by the threat of economic violence if you choose to ignore it
US! 🫡 The people. We are bitcoin. 🧡
HODLers
there is only one true answer:
insurance
TFTC: A Bitcoin Podcast: #636: Insuring Your Bitcoin Against Wrench Attacks with Becca Rubenfeld
;)
Bitcoin is secured by first principles and energy.
The network effects of greed and fear, which happen to be directionally aligned. Good money is the meme that is going to eat the world.