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Author Topic: Future Bitcoin security depends on price  (Read 695 times)

Offline bosshyip

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Future Bitcoin security depends on price
« on: July 14, 2018, 04:48:48 PM »
We know that Bitcoin's resistance to attack is based on the cost for the attacker to overwhelm the network, or at least to control a large fraction of its computing power. We assume this cost will continue to rise in the future so attacks will be infeasible even for well-funded attackers.

But the computational power of the network is proportional to difficulty; and it appears that difficulty is proportional to bitcoin price. It follows that unless bitcoins become substantially more valuable than they are today, the Bitcoin network will never be substantially more resistant to attack than it is today.

For Bitcoin to succeed and become secure, bitcoins must become vastly more expensive.
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Future Bitcoin security depends on price
« on: July 14, 2018, 04:48:48 PM »

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Offline CryptoZenWorld

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Re: Future Bitcoin security depends on price
« Reply #1 on: July 14, 2018, 05:19:23 PM »
Yes, Of course. If the price of bitcoin don't rise then the investment or trust will be down. As a result, tradition will be stop gradually. So, to keep it alive the price has to more expensive now. It depends on investor actually. 
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Offline Butuhusaha

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Re: Future Bitcoin security depends on price
« Reply #2 on: July 14, 2018, 05:42:23 PM »
if I think it must be gan. because with prices that continue to improve in the market it becomes a major factor bitcoin in vadi and in haste by many people. but if bitcoin is gone there is no certainty the future of bitcoin will be lost.
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Offline Raboni

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Re: Future Bitcoin security depends on price
« Reply #3 on: July 14, 2018, 07:37:51 PM »
The more the higher price of bitcoin, the more the safer must be. In order to make it safe the devs will promote bitcoin more in advertisements and provide some new gadgets and technologies to upgrade whatsoever in order to gain the trust for making bitcoin secure. Upgrading the system requires more time to make it more secure and attractive.

 

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