I don't understand why in the name of god it's 2024 and we still cling to things like hashrate is going up, everything is fine the networks is more secure, and we ignore when it comes to security basic things about mining, things that guys like Burtw mentioned decade ago!!!
Quick example of why hashrate on its own is just a useless metric, so, assuming attackers need 10 billion (number pulled out of my *) now at 600exa that means back in 2013 at 400th/s you could have attacked the network with $10k? No!
So why not go the easy path of doing things, best case scenario:
- all miners are ar 3cents kwh, we completely ignore ROI, last day read was $27,476,575.85, let's round it up to 30 million, so that's 1 full TWH a day, your best efficient gear at the moment draws 85kwh so we can feed with this 11 million ASICs
worth 50 billion! Nice one!
Bad scenario:
- we no longer have rewards, but Bitcoiners are spending like nuts so the fee is not 1 mil but 5 mils, all miners have 4 cents per kwh, but they also have a ROI of 2 years on the gear so we're down to 125Gwh, before ROI so with that we need additional 8$ per day per gear , so we're down to 400 000 asics being the maximum of economically viable, and that's 2 billion! Still out of my pocket reach, we're safe!
Worse case scenario:
- fees are the same as now 1mil, kwh is at 5, adding expenses keeping 2 years ROI, and we can't feed more than 70 000 asics worth 350 million.
350 million to attack a destabilize a network worth 1.4 trillion, cheap, expensive?
The good part in this is, why would
Buttercup do this? Or
Kim Join Us! Or the reptilians and the bildenbergs!
![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
Oh my bad, forgot in the worst-case scenario the attacker might not want to buy the most expensive gear but a cheaper one in cost of TH/s/$, so in head to head battle you won't need $5000 of gear to overpower a s21 you would do it with s19 that are selling for almost scarp on the market for $1800.
Which would bring down our scenario from 350 million to 126 million
![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
But why would anyone who feels threatened by Bitcoin spend twice the wage of the CEO of JP Morgan on killing it....
![Grin](https://bitcointalk.org/Smileys/default/grin.gif)