Thread

This needs to be done ✔️

we dont need revenue sources this is not a stock

Are you reading what I’m saying?

yes, "security budget", find revenues for miners. Bitcoin is not a stock, there is no such thing as a "security budget". Network fees are miners problems, its a free market. Bitcoin hashrate/security follows price, that means it will always find a balance and be adjusted according to Bitcoin Market Cap. That balance will always exist.

Hashrate follows “dollar per block” and not price In few halving, no matter how big the price is, dollars per block will be significantly reduced unless we get a surge of onchain demand (so far that doesn’t look to be the case) hence enabling trustless bridges will create bigger demand on block which will utilmately generate more dollars per block so hashrate will follow

👏🫡

I understand the concern about miner incentives as the subsidy decreases, but opening up OP_RETURN or creating exclusive L2 blockspace to generate more fee revenue isn’t the solution. Bitcoin’s security should depend on genuine user demand for limited blockspace—rather than engineered fee streams or protocol-level hacks. If blockspace is valuable, the market will show that through higher fees or increased hashrate, the system naturally adjusts if it isn't. For those worried about spam, the solution isn’t expanding protocol-level data slots but rather improving node and mempool policies—using filters, not bloat. Security and spam resistance both come from keeping the protocol lean and market-driven, not from trying to out-engineer potential future problems.

dollars per block depends on bitcoin price, you can have full blocks, if bitcoin price crashes, dollar per block crashes, the big gains is still the coinbase reward and it depends on usd price, we have seen hashrate going up with almost empty blocks, because price was up. Bitcoin network rewards does not need to double after a halving, neither does Bitcoin price, there is no requirement for that, hashrate will always be balanced according to price. And your solution is no guarantee that demand will come, even because with bigger blockspace fees will be lower.

“The big gain depends on Coinbase rewards” Yes exactly and that will go away fast… so not sure what you are talking about honestly … In few halving from now if we don’t see onchain demand growing we will have a problem You can bet on demand growing or price growing to 20-30 million I’d rather add few other things that I believe would be great for bitcoin and that can increase chances of having stronger block space demand

There are many factors that you are ignoring, you are only thinking on keeping total reward value consistent across halvings wich is not required, neither does hashrate needs to increase in the same rate across halvings. Is current hashrate at current price low, high or just right? Do you know?

hashrate is irrelevant as it depends on tech progress.. what's important is how much money you need to attack the network

lol. ok. if hashrate is irrelevant then i guess its a non issue.

if you read carefully what I mean behind that expression you would understand. Hashrate is definitively a very vague proxy for total network power. In the end what you want to know is how much mony an adversary would need to attack your network with 5,5kw today you can easily produce 580Thash/s with the upcoming Antminer with an Antminer S9 from the past you would produce 10% of that hashrate with the same electricity it means that overtime, without increasing the dollar amount spent on the network you would have seen a 10X increase in hashrate with people all over twitter claiming that we are doing ATH and that the network is more secure but is just simple math.. the network is secured by electricty/hardrware/infrastructure. Whoever joins now as an adversary will have access to equipment that is very efficient so it's all about the money spent on those elements.. hashrate is a side effect

dude hashrate already reflects that, already reflects hw mining improvements, its not a strange proxy its the most accurate signal, if with the same money you can get a miner that 10x, others will too, and hashrate will 10x reflexting that, meaning that that is the new baseline, that why difficulty adjustment exists already taking into account HW improvementw.

this is like if I'm protecting the network with the amount spent on hardrives but instead of measuring the money, I'm measuring disk space man, when I started with my first computer, a 100mb drive was like the largest I could ever dream of... so disk space would definitively not be a great proxy. but if you really really think Hashrate is a great proxy then we can pause here becuase it looks like we think of math very differently.

your 100mb HD was big at the time, now its useless because every SW takes more space and expects everyone to have a good ammount of space, this is the adjustment to new tech,this is why a baseline HD today is 1T. You dont ask how much USD of space you need in a new PC, you ask how much GB/T.