Should we worry about Bitcoin's security budget? I won't worry unless miner revenue drops epoch over epoch.
1st epoch: $0B
2nd epoch: $2B
3rd epoch: $16B
4th epoch: $46B
5th epoch: $27B so far
We're...
Revenue falling is the only hope we have for the current deadlock is broken and something directionally towards GSR is feasible again. It's while subsidy is high that everyone can pretend Bitcoin can be secure with little to no usage