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The Bitcoin halving is commonly perceived as #NumberGoUp
But isn't it more of a #SecurityGoingDown meme?
Let's look at the fundamentals and some actual numbers:
But isn't it more of a #SecurityGoingDown meme?
Let's look at the fundamentals and some actual numbers:
Proof of work provides consensus-layer security for Bitcoin
PoW relies on miners to actually run infrastructure
That costs money which miners must earn somehow
PoW relies on miners to actually run infrastructure
That costs money which miners must earn somehow
Miners make money by
(1) block rewards, which are cut in half every 2 years and
(2) transaction fees, hopefully increasing to compensate (1)
(1) block rewards, which are cut in half every 2 years and
(2) transaction fees, hopefully increasing to compensate (1)
