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Been seeing alot of #bitcoin security budget FUD lately. Doesn't the difficulty adjustment solve for this in the event #bitcoin fiat price fails to double every 4 years?

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Discussion

average_bitcoiner 4mo ago

Difficulty adjustment plays into it but not super relevant since the security budget usually refers to tx fees

Broletariat 4mo ago

And block subsidy when compared to the costs of mining. If difficulty drops, does it not become cheaper to mine the blocks?

average_bitcoiner 4mo ago

It becomes easier. Not necessarily cheaper.

Broletariat 4mo ago

So then is the security budget issue real? If not many transactions occur on L1 and fees stay at 1 sat/vbyte combined with a reduced block subsidy, wouldn't that be a major issue?