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

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…

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