You seem to be implying that it's OK for the hashrate to fluctuate, as long as the trend is only in the upward direction.
The correct security budget is whatever it happens to be at any given moment in time.
If the price of Bitcoin is too high relative to the number of miners, the reward for mining effectively increases, which brings in new miners.
If the price of Bitcoin drops too low, relative to the number of miners, then the reward for mining effectively decreases, which leads to unprofitable miners leaving.
You seem to be talking about a problem that does not exist.
kpr797 /
npub1as…rt7pd
2025-03-12 07:03:36
in reply to nevent1q…upet
Author Public Key
npub1asqr6hh9zqgpnudm33vxa9j54kafz0huzmczq5wrjavxjnmshmxs5rt7pdPublished at
2025-03-12 07:03:36Event JSON
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"created_at": 1741763016,
"kind": 1,
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"content": "You seem to be implying that it's OK for the hashrate to fluctuate, as long as the trend is only in the upward direction. \n\nThe correct security budget is whatever it happens to be at any given moment in time.\n\nIf the price of Bitcoin is too high relative to the number of miners, the reward for mining effectively increases, which brings in new miners.\n\nIf the price of Bitcoin drops too low, relative to the number of miners, then the reward for mining effectively decreases, which leads to unprofitable miners leaving.\n\nYou seem to be talking about a problem that does not exist. ",
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