Re:Proof of stake is incapable of producing a consensus
by pkulak on Sunday November 28, 2021 @11:58AM
(#29370496)
> Bitcoin difficulty adjusts dynamically
As does the energy use by miners. So, energy use reacts to price, and then difficulty reacts to energy use. That's OP's point.
> if miners started to shut down...
Actually, that would be _very_ interesting. Then you'd have millions of dollars of hardware doing nothing. And doing nothing is losing money. Maybe at that point attacking the network is more profitable than watching your hardware depreciate.
As does the energy use by miners. So, energy use reacts to price, and then difficulty reacts to energy use. That's OP's point.
> if miners started to shut down...
Actually, that would be _very_ interesting. Then you'd have millions of dollars of hardware doing nothing. And doing nothing is losing money. Maybe at that point attacking the network is more profitable than watching your hardware depreciate.