Coinmonks
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Coinmonks

Bitcoin Security Budget: ASIC Edition

Approximate bounding inequality for attack cost (with ASICs)

Initial Hardware

Present Value of Income Stream

Present Value Equation

Summed Across all Miners

What if ASICs Stop Advancing?

Operational & Upgrade Costs

Final Expression

Conclusion

Appendix

More Precise Description of Upgrade Cost

Discounting Income Streams

Hardware Over-Allocation Smooth Out

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Coinmonks (http://coinmonks.io/) is a non-profit Crypto Educational Publication. Follow us on Twitter @coinmonks and Our other project —  https://coincodecap.com, Email  — gaurav@coincodecap.com

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