rich1.0 wrotenpub1fp685rwn5pecyxu7edf49g9r8630tdm440srjvjq5psmtklg56lscnfr2hhttps://nostr.now/npub1fp685rwn5pecyxu7edf49g9r8630tdm440srjvjq5psmtklg56lscnfr2hnjumphttps://nostr.nowLook at the hash rate, see any problem ?
I don't know how this works out in the long term.
Probably fees is going to be a large part of the solution.
But if #Bitcoin becomes a widely used currency it will be the backbone of most economics.
As such nations, big companies basically everyone will depend on it functioning properly.
So it can't be excluded (by then honest/trustworthy/selfless not the crap we have currently 😇) goverments and/or big companies or #Bitcoin-banks (Strategy ?) will put substantial money into safeguarding the protocol.
A completely different path would be if personal mining would take off.
If everyone would have a home-miner to be combined with heating or warmwater, that could deliver enough hash power to be safeguarding #Bitcoin.
The use of stranded/uneconomically energy is also not yet fully used.
It is possible that big projects could use large amounts of otherwise stranded cheap energy and that to provide enough hash power.
So far I haven't heard any one talk about completely new developments of/for the hash function.
Up to now the protocol is such that everyone can join the mining pool to complete for the coinbase or fees.
I can envision that to change in the future.
If the coinbase has dropped to zero we could find alternatives for the current proof of work mechanism.
Just running nodes could be possible.
If every body using #Bitcoin would run a node and some majority mechanism would determine the real #Bitcoin protocol we don't need that huge processing power any more.
Yes there changes needed but they are are feasible.
Even ways to reduce the blockchain size could be possible, making a node even more affordable.
But technology is evolving faster than the blockchain grows so that isn't going to be a big problem anyway ?
And all this is made up by some idiot in a few minutes time. Really, we shouldn't worry, but since we are human most will 🤷♂️
It is basically the question if humanity will evolve into something fair and sustainable or will just keep destroying Earth and each other for some personal gains....