Will governments use this as an attack vector?
I get doing this shows off Bitcoin's grid balancing prowess, but the schizo in me makes me think this could be used as an attack vector. Thoughts?
4 sats \ 0 replies \ @Lost_dogz 20 Jul 2022
If they do, it's going to be extremely hard to do it on a federal level, let alone global level. China shut down nearly 100% of their hash power last year and all that happened was we had to wait 13 minutes for blocks instead of 10 minutes until the next difficulty adjustment (2 weeks)
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0 sats \ 0 replies \ @frostdragon 20 Jul 2022 freebie
How would this be an attacker vector? Ultimately, limiting bitcoin mining due to overreaching energy regulations does nothing to the security of the network. The difficulty adjustment takes care of that. A block is mined every 10 minutes no matter what. In the meantime, mining is literally turning energy into cash.
So, the government could either try to regulate the hell out of mining, doing absolutely nothing to the network, or they can profit by allowing mining to boost the local economy. Politicians that fight mining have a massive uphill battle.