Re:Bitcoin is not a store of value
by paulgb on Monday September 19, 2022 @10:22PM
(#32906915)
The security of the network depends on the difficulty. It’s true that in the absence of bad actors the network will run as long as fees are nonzero, but the whole point of bitcoin is that it’s supposed to be resilient to attacks.
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Re:Bitcoin is not a store of value
by TakeBlaster16 on Tuesday September 20, 2022 @11:19AM
(#32912923)
If usage is low - fees will be low, and the cost of an attack will be low, but the expected value gained from an attack will also be low.
If usage is high - fees will be high, and the cost of an attack will be high.
Security scales with usage, as does the incentive to attack. As long as usage trends in the same direction as value, I don't see the problem.