I dont understand your last comment

You can trust a translations only if there is comparable mining cost behind it. Nowbody knows who does the translations, maybe I do all of them.

Translations?

Sorry, transactions

You can trust transaction if there is comparable mining cost behind.

You consider that especially problematic. Why?

If I recieve from transaction that spends 100$ I trust it only if it is burried behind 100$ of fees and rewards.

Eventually the reward will be 0, so I will have to wait it to be burried by 100$ of fees.

If we want to take cryptos instead of fiat money, the cost of trust must be very much lower. There isn't enough energy...

You think today it spends too much energy. But this is another topic.

Let's say when rewards drop to 0 the fee will be 1$ per average transaction and we would be able to fit 5000 transactions in a block so there is 5000$ of fee in a block.

So If you want to trust a transaction that spends 10 000$ you should wait 2 blocks.

If you have a transaction of 100 000$ which is a lot you have to wait 20 blocks, which is like 3.5 hours, which is not a lot.

Maybe all transactions in the block are from one person! So it doesn't help to take more transactions in the block.

And if all 10 blocks contain only the attacker's transactions.

He will be well motivated to bribe the miners.

So if there are 1000 transactions in the block 1000$ each and 1$ fee each. 1000$ fees are in the block, and the money spent is 1 000 000$.

I'm not sure how fees will develop, but they must be depend on the value of transaction.

Let's say Alice got a 1000$ in a transaction in this block from the attacker. Bob got another transaction of 1000$, and so on.

Bob can say "OK, another block burried my transaction that has 1000$ fee I'm safe."

And the attacker can bribe miners with 10 000$ to make a side chain of another 2 blocks.

He will refund his 1 million $ and paid just 10 000$

Yes.

The miners will get 10 000$ instead of 2000$, and they lose another 1000$ fees from the main block.

So they will be in + of 7000$

Yes

So the fees in the block should be comparable to the value of the block.

Yes

So the fee should be equal in size as transaction :D.

Yes, and that is far to much.

Sure.

This has nothing to do with electricity and energy cost.

Yes.

But unrelated: in btc the electricity cost of transaction is too high. I did a calculation in one question here. It came out that the fees should be like 10$ per transaction.

From this it means that transactions should be at least 1000$ big to have 1% fee, making btc unsuitable for small transactions. But from your attack it means that the fee should be comparable with the transaction value making btc only reasonable for transactions of less than a dollar.

Yes, and so PoW can't create efficient cryptos.

What is wrong in our argumentation?

I dont see anything wrong.

@Briguy37 Do you want to discuss your answer?