---
# System prepended metadata

title: <center><i class="fa fa-edit"></i> 2.5 Putting It All Together </center>
tags: [Blockchain]

---

# <center><i class="fa fa-edit"></i> 2.5 Putting It All Together </center>
###### tags: `Blockchain`
The following notes are taken from [Coursera](https://www.coursera.org/learn/cryptocurrency/home/week/2)

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### Mining Economics
```
    if mining reward     > hardware + electricity cost -> profit
(block reward + tx fees)
```
### Bitcoin is Bootstrapped

![](https://i.imgur.com/5AF90Wu.png)

### Complications
- Fixed vs variable costs
- Reward depends on global hash rate
- Exchange rate of Bitcoin

### 51% Attacker
- Steal coins from existing addresses? ❌
    - Cryptographic problem, can't steal on node level
- Supprection some transactions? ✅
    - From the blockchain 
        - Controls consensus, prevent creation of blocks
    - From the P2P network ❌
        - P2P Independent of consensus
- Change the block reward? ❌
    - Can't control copies of Bitcoin software honest nodes are running 
- Destroy condience in Bitcoin? ✅
    - Likely, lose trust in decentralization