William B Travis on Nostr: And the higher the hashrate is (assuming it is relatively decentralized), the more ...
And the higher the hashrate is (assuming it is relatively decentralized), the more expensive a 51% attack is. This is the security factor. Bitcoin has the highest hash rate of all crypto currencies and is decentralized enough to make a 51% attack way too expensive to consider. Game theory suggests that's it's a better economic decision to buy bitcoin and lose some privacy vs than to opt for privacy and have your chain rewritten and lose all of your value.
Published at
2024-07-02 20:22:49Event JSON
{
"id": "cf703ddc0e9fa611e589b043c368bf88b25cfdc0fb8d218df926cbe5106ce410",
"pubkey": "3b8f17fb8a9f0c769b5819cf3caea3922a6844d4f7f7684aed9f6571bb26be46",
"created_at": 1719944569,
"kind": 1,
"tags": [
[
"e",
"081375365fc88aece9b507e8dd7d0f50364f408dca2d76e36ea9b08d2a957bec",
"",
"root"
],
[
"e",
"e9a5e3cfa93d83cb6c1161db6939b0f1fbe878ca4eb3d4dba63e441e4b60f841"
],
[
"e",
"7cfd05e153942a1c9efdf0390e78dc4db3e901df7a17be9472e49caa3ecd1b26",
"",
"reply"
],
[
"p",
"50054d07e2cdf32b1035777bd9cf73992a4ae22f91c14a762efdaa5bf61f4755"
],
[
"p",
"232950265e7a6eeb1b9ff0b802096ce2f794020d91317ece290eaf06919b4065"
],
[
"p",
"3b8f17fb8a9f0c769b5819cf3caea3922a6844d4f7f7684aed9f6571bb26be46"
],
[
"p",
"f985d309197c805e1719c73185b574fc3ee407d7c1b6157dee99c6ace2599bbb"
]
],
"content": "And the higher the hashrate is (assuming it is relatively decentralized), the more expensive a 51% attack is. This is the security factor. Bitcoin has the highest hash rate of all crypto currencies and is decentralized enough to make a 51% attack way too expensive to consider. Game theory suggests that's it's a better economic decision to buy bitcoin and lose some privacy vs than to opt for privacy and have your chain rewritten and lose all of your value.",
"sig": "40bcc7f10f1824ba525b864f4ab0881d4dc08d49276dae74d03d9056428357d172bce10ad41b0c6ad3c34aa43b23d5ea2923cda99775a105989e08d73bd445ce"
}