On Bitcoin’s Fee-Based Security Model — Part 1: Beware The Turkey Fallacy

10,000 and 1 days in the life of a proof-of-work cryptocurrency

Is Bitcoin the most secure and durable money ever? They say it is.

They say it has operated securely for 12 years now — an immutable and uncheatable ledger¹ has been chunking forwards without a hitch for more than a decade — and from this we know it will continue to operate securely in future. The longer it goes without collapsing, the lower the risk. The system has clearly…



The map is not the territory • bookoftheway.com • joekel.ly

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