in principle i don't see what a strategic analysis would exclude the 51% attack? it's the wide open gaping problem that has always existed? Thiel suggests it may already in effect be compromised because of Chinese mining capacity. some bad hedge fund shorting BTC & doing this
when the block rewards shrink enough that might not be true as the shortable market cap increases relative to mining. every halvening. it might not even be true now
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Why don't people think there will be off-chain "subsidies" to secure the network if wealthy, powerful people and corporations are using it as a store of value?
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idk, you could subsidize it either way depending if you could make more money long or short. i have a feeling you can make more short but you could get caught otoh a government could straight up outlaw it, maybe even attack if, but it’s not like the bitcoin network can’t respond
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