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@joe_miller0 @matthew_d_green Not even remotely true that it's independent of the price of bitcoin. The cost of securing it has to be comparable to the amount at stake, by design. I'm aware this is not understood by most people, but it is none the less true.
@joe_miller0 @matthew_d_green If the amount of electricity being spent is $5M and the value of the coins outstanding is $5T, then there's a huge payoff you can get by outspending everyone else. By design the amount has to be large enough that it isn't worth it.
@joe_miller0 @matthew_d_green That means you can literally never lower the amount being spent. It's an insane design decision.
