Hashrate could easily be a lot lower and we’d be fine.
Hard work + low time preference mindset:
✅ I may have to pay more to get my transaction into a block - NP, I can wait or pay
✅ i’m already out producing all the dens/spammers/scammers - they will eventually get priced out of transacting
✅ I can also wait longer than six confirmations
✅ if hashrate is half of what it is now, the difficulty adjustment - like magic - keeps coin mission Q 10 minutes
✅ if censored, spammed, or attacked, then the fee market will spike, incentivizes anyone with access to ASICs and energy to come back online
✅ resetting at a lower hash rate could redistribute hashing to the plebs away from the more centralized big players
McCoy
npub18y…qx5t7
2024-09-01 15:00:33
Author Public Key
npub18y33vpqmudzm9wk9cnglgnrhqyu96c4l4tr59k2zw0gs5ep5a2kqjqx5t7Published at
2024-09-01 15:00:33Event JSON
{
"id": "a26409a53e146f753f9c0a2e00aa763ffb5aa730afd98d6cf9a835c5e4da0cdc",
"pubkey": "392316041be345b2bac5c4d1f44c7701385d62bfaac742d94273d10a6434eaac",
"created_at": 1725202833,
"kind": 1,
"tags": [],
"content": "Hashrate could easily be a lot lower and we’d be fine.\nHard work + low time preference mindset: \n✅ I may have to pay more to get my transaction into a block - NP, I can wait or pay\n✅ i’m already out producing all the dens/spammers/scammers - they will eventually get priced out of transacting\n✅ I can also wait longer than six confirmations \n✅ if hashrate is half of what it is now, the difficulty adjustment - like magic - keeps coin mission Q 10 minutes\n✅ if censored, spammed, or attacked, then the fee market will spike, incentivizes anyone with access to ASICs and energy to come back online \n✅ resetting at a lower hash rate could redistribute hashing to the plebs away from the more centralized big players",
"sig": "143121065fe1734d2ecfb36c17109e27b9081ff4a8d1654291f7f0a758052cc4601f686ce9562495474c5588823ce83ebdb2b16800073f46b17dc6c1ce80a050"
}