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    Author Topic: [Poll] If Bitcoins blocks were 10x larger, would the miners be earning 10x?  (Read 489 times)
    franky1
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    December 30, 2023, 02:00:52 PM
     #21

    It's all a question of how much you're protecting an with how much you're defending, are $36 million a day enough for miners to build a wall against somebody wanting to attacks bitcoin now? Maybe! Assuming Bitcoin goes to 400k and the chain holds 8 trillions in value, does that value still project the same security, of course not.

    firstly the network is not protected by $36m a day
    miners do not simply buy equipment for the day and pay electric for the day

    they actually bought electric and equipment for a ~2 year span
    meaning the equipment protecting the network is 730x the daily reward

    remember for someone tomorrow to suddenly want to 51% means they need to take delivery today not of just $36m equipment and electric to attack the network tomorrow.. but instead another 540exa of equipment is needed to 51% attack the network tomorrow
    this amounts to 2.7m asics of 200thash at ~$4k each ($10.8 BILLION) hardware
    plus they cant just buy one days worth of electric for those asics. to get that volume of electric in one go they would need to sign up to a contract of special electric allocation..

    so although miners are reimbursed per blockshare.. the cost of security is alot higher.. yep ALOT higher

    much the sale as police officers..
    police officers might be told they work at hourly rate. but they dont receive hourly rate. they are instead contracted for 1 year at a salary level, given guns and training and kevlar vests and police cars. which means for every hour they are on the streets they are costing the tax payer yearly amounts of hundreds of thousands to be on the street at any given hour

    cops are not actually paid per hour. where they can just come and go soo easily. EG just get paid for 1 hour and never return to work
    their hourly job has a combined cost of hundreds of thousands(car, training, equipment, employment contract) to be working per hour


    also it does not matter what the market cap is.. you scream about a $8trillion market cap.. but blocks are not handling $8trillion per block
    someone cant steal all $8trill by messing with 1 block or one days worth of blocks

    I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
    Please do your own research & respect what is written here as both researched opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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