Topic: supply demand disconnect, security. (Read 193 times)
copper member
Activity: 474
Merit: 3
Exclusive Crypto Rebates for Poker/Sports/Trading!
Furthermore, a 51% attack only lets an attacker double spend. Everyone's coins are safe, and if you simply wait for 6 confirms you make it increasingly harder and costlier for the attacker. They are incentivized hugely to "behave" and actually mine with that hashing power, generating coins for themselves while they have such a huge amount of power.
Expected network hashrate is over 100 TH/s at this time
I assume you mean 100 million TH/s, not 100 TH/s.
Regardless, who says the hashrate should be that high? The hashrate has never been 100 million TH/s. The highest it has ever been is around 61 million TH/s.
The network is susceptible to an attack greater than 51%.
Not really. The current hashrate is 35 million TH/s. The first time it was ever that high was only in June of this year. For the first 9.5 years of its life, bitcoin had a hashrate below 35 million TH/s, the majority of that time being significantly below this level, and yet survived without a 51% attack.
1,800 new bitcoins are minted per day. The markets can clearly absorb this, demand does outstrip supply. We can establish there is a disconnect here.
Expected network hashrate is over 100 TH/s at this time, though current hashrate is 1/3 of this. The network is susceptible to an attack greater than 51%.
These things are correlated. Issues exist in our marketplace which undermine our security.
Expected network hashrate is over 100 TH/s at this time, though current hashrate is 1/3 of this. The network is susceptible to an attack greater than 51%.
These things are correlated. Issues exist in our marketplace which undermine our security.
Jump to: