Is Bitcoin charge assault preventable?

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I do not assume it’s simply preventable however it’s costly and it will be tough to organize with out being observed and is perhaps tough to execute in a manner that could not be detected and countered, no less than partially.

Firstly $2.5 billion is a considerable sum to throw away until you’re a authorities.

You’d initially want to purchase $2.5 billion price of Bitcoin since that’s the quantity you calculated it’s good to have accessible in BTC to spend in transaction charges. Massive purchases of this kind are likely to push up the value of Bitcoin. (Reference).

Bitcoin transactions that spend $50 in charges to pay somebody just some small quantity comparable to $10 could be suspicious and may very well be blocked, you’d must re-use a extra important quantity, say $2000. Transactions that shortly recirculate that $2000 would even be reasonably apparent and straightforward to dam.

Bitcoin has survived transient durations of very excessive charge charges (e.g. common over $50/transaction in April 2021) – this spurred the event and adoption of upper degree Bitcoin cost techniques such because the Lightning Community (LN) which use the Bitcoin community comparatively sometimes.

Bitcoin miners have invested in the way forward for Bitcoin and lots of of them may not wish to help somebody evidently meaning to do hurt to the Bitcoin economic system, even regardless of the brief time period monetary features provided. It appears doubtless that many would coopoerate in a defensive motion as soon as the assault was apparent. Many or nearly the entire much less satisfied miners may need to comply with together with defensive efforts to keep away from being left on the improper facet of a fork. Or they’d divide their effort between a profitable fork and a fork with long run worth.

Actually the query boils right down to, for those who had $2500000000 and needed to finish up with $0 with the facet impact of destroying Bitcoin – would there be a less expensive or faster manner? Would there be one thing else you may do with that cash that will be extra helpful to you?

In the end this query is a bit subjective, however I suppose there are some points of Bitcoin’s operation and historical past that may be introduced up in a solution in an goal manner.


Footnote re transactions per block

blocks> blockchain -file blk03359.dat -blocks -format csv
   No.,Model ,Peak,Date and Time   ,   Txs,Goal  ,Id
     1,2C992000,772279,2023-01-16 20:24,  3218,17077CE2,000000000000000000041832D3A631058097F4D5DF55D985E8C664EA221F317D
     2,2CDF2000,772280,2023-01-16 20:52,  3510,17077CE2,0000000000000000000116ADA2621CB8F296852A50CD022AD1A905B6D827B600
     3,20006000,772282,2023-01-16 21:16,  2788,17077CE2,0000000000000000000506A596FF3A003DB3C4E4221FA38B8A500A19A102C847
     4,27FFE000,772283,2023-01-16 21:24,  2971,17077CE2,000000000000000000045811D897C1B593F7F709E0726E88E95E3B7B7AA7C379
     5,324F0000,772284,2023-01-16 21:42,  3320,17077CE2,00000000000000000004C114CA81064110AA59C2286D5FA0BA51E02F7BF9B481
[...]
   100,20000000,772448,2023-01-17 23:17,  2787,17077CE2,000000000000000000074C2DDD69DC4266EBCE407F4CB89906D0D5A4A6C277F1
   101,20000000,772449,2023-01-17 23:20,  3012,17077CE2,00000000000000000006D59307529DE12433207000992AA7087E6560641D1503
   102,20000000,772450,2023-01-17 23:23,  1317,17077CE2,000000000000000000066B6B40258410FF5FD5C9034BC5F046FFF82CAEB5A59B
   103,293F6000,772451,2023-01-17 23:34,  2957,17077CE2,0000000000000000000427BF57B0D9DBFD00286B5F5EA6DF508ACF56D021D08F

blocks> blockchain -file blk03359.dat -blocks -format csv | ^
Extra? perl -n -a -F"," -e "if (/0000/) {$t+=@F[4]; $n++;} END{print $t/$n;}"
2196.54368932039

So, <2200 tx/block on common

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