Unpopular opinion: #Bitcoin is NOT backed by math.

There is no proven theorem that SHA-256 is a one-way function (i.e. hard to invert/collide). In fact, no single function has been proven hard in this sense.

Bitcoin is backed by *evidence* that nobody has published a weakness of SHA-256, and by the "proof-of-Lindy" that nobody appears to have cracked this half-trillion USD honeypot in 14 years' time.

However, if someone *had* figured out a way to invert SHA-256, how would we know? A highly profitable way to monetize this knowledge would be to join the mining game in a low-key manner, slowly increasing your "hashrate" over time (so as to be indistinguishable from regular miners), while not incurring electricity costs. Someone could already be doing this, and we wouldn't be able to tell.

Change my mind 👇