Shallow safety vs. deep safety: Shallow: estimated from volatility, assumes nothing goes wrong at lower layers of the protocol stack Deep: what happens to your assets upon underlying failures? e.g. how would your digitally centralized assets fare against sanctions or cyberwar?
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Deep safety varies greatly between different people & organizations. Risks to digitally centralized property vary greatly between different people & organizations & their different political & legal environments. Price movements don't tell you much about your particular safety.
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Well stated Nick.
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Deep safety is about efficacy, shallow safety is about efficiency.
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Shallow safety is focused on x While deep safety is focused on f(x) Prediction vs. exposure
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Questions to understand deep safety by reasoning backward: How many necessary conditions are there to access your assets under Scenario A? Under Scenario B? Then, how likely is each necessary condition?
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Shallow is finite. Deep is infinite...
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Do you think Difficulty Adjustment Algorithms of SHA256 Bitcoins affecting mining profitability could take capped BTC offline?
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That is why BTC is one hell of a risk.
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