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Can you please explain that: what will guarantee the computing power for btc in 10 years regarding to the decreasing block rewards if the price will not increase exponentially? No offense I’m really curious
Long-term security does not depend on proportional long-term increases in computing power. Only relative computing power is important. Furthermore, transaction fees rise with price, reflecting overall value as medium of wealth transfer.
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And Mises did ask unto the burning hash, “Will there be whatever price elasticity we need, irrespective of market conditions?” And the Lord said, ‘ye obvs’. And Mises saw that it was good.
to add, increases of efficiency of power consuming algorithms including all things electronic will also help and will always be a race as supply tends towards 21 million but not get there as we enter reward era 34
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