BitVM: Compute Anything on Bitcoin [pdf]

Re:BitVM: Compute Anything on Bitcoin [pdf] by toenail on Tuesday October 17, 2023 @04:14AM (#37911956)

Less than .1% to secure more than 500 billion of value. Bitcoin energy usage is primarily to secure the network, not for transaction "volume", but that's a common misconception for people who have yet to learn about bitcoin.

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Re:BitVM: Compute Anything on Bitcoin [pdf] by ninepoints on Tuesday October 17, 2023 @05:06AM (#37912330)

You're splitting hairs. If the energy is needed to stave away a 51% attack, that's the energy needed to support the single digit tps monstrosity you have. As for the 500 billion in value, I doubt if everyone liquidated their positions today it'd amount to a figure remotely close to that.

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Re:BitVM: Compute Anything on Bitcoin [pdf] by kristianp on Tuesday October 17, 2023 @05:26AM (#37912479)

> I doubt if everyone liquidated their positions today it'd amount to a figure remotely close to that.

The same goes for any stock in the S&P 500. Market Cap is just a number.

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Re:BitVM: Compute Anything on Bitcoin [pdf] by toenail on Tuesday October 17, 2023 @05:50AM (#37912635)

If once in bitcoin's history there is 51% attack, all energy that was ever used was used to prevent this one attack. Wow, you totally convinced me.

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