> It's also very possible that transactions fees alone actually will be sufficient to support a high enough amount of hash power to secure the network.
I have to admit that I have no idea how much work is actually needed to secure the network. My point of view is that the current rate of energy expenditure outweighs whatever benefit Bitcoin does or could provide to society. But if this rate is a transient result of still-significant minting going on, things could definitely look different in the future.
Do you know of any analyses on how much work really has to be continuously expended in order for Bitcoin to remain reasonably secure at a given market capitalization?
I have to admit that I have no idea how much work is actually needed to secure the network. My point of view is that the current rate of energy expenditure outweighs whatever benefit Bitcoin does or could provide to society. But if this rate is a transient result of still-significant minting going on, things could definitely look different in the future.
Do you know of any analyses on how much work really has to be continuously expended in order for Bitcoin to remain reasonably secure at a given market capitalization?