Fee Ratio Multiple = Miner Revenue [Block Reward + Transaction Fees] / Transaction Fees
A low FRM suggests that miner revenue can be maintained without having to rely on an inflationary subsidy. In the below charts you will see lower highs for FRM in every cycle.
Apart from other reasons why this won't happen. Let's reason if it's worth the effort to do a 51% attack.
So let's say are able to acquire the hardware to form this 51% attack
This would be quite an investment at the current hashrate, which is +/- 100M TH/s
A modern miner like Antminer S19 Pro costs $10k and runs at 110.0 TH/s
So you need 900.000 of these to ...
What am I missing?
What is the length of largest known reorganization in bitcoin?
There have been only two large re-orgs in Bitcoin's history. The first is the value overflow incident in August 2010 that caused a re-org of 53 blocks and the March 12, 2013 fork that caused a re-org of 24 blocks.
There may be a future need for a reorg of more than 6 blocks?
When the attacker broadcasts the chain they had been working on in private, will they get mining rewards for all those new blocks after the reorg?
Yes, the majority attacker can create the longest blockchain entirely on their own. They will create every block in the chain, and thus also create the coinbase transaction in each of those blocks. Presumedly, ...