The summary.
SECURITY RESTS ON ATTACK COSTING MORE THAN THE GAIN
Which is why small networks are genuinely vulnerable to majority attacks, and why the energy cost of work-based consensus is the security mechanism rather than a side effect.
A majority attack permits reversing recent transactions — not creating funds or spending others' holdings.
MINING POOLS CONCENTRATE BLOCK PRODUCTION EVEN WHERE PARTICIPANTS ARE MANY
Examine the distribution of block production, not the node count.
STAKING RETURNS ARE NOT RISK-FREE, WHATEVER THE PRESENTATION
Slashing, lock-up periods, validator failure and platform failure all apply.
GOVERNANCE IN OPEN NETWORKS IS SOCIAL, NOT TECHNICAL
Which is why disagreement produces forks rather than decisions.
A FAILED TRANSACTION STILL COSTS THE FEE
The work was performed. And fees vary sharply with demand, so a transaction affordable now may not be in an hour.
BRIDGED ASSETS ARE A CLAIM ON LOCKED FUNDS, NOT THE ASSET ITSELF
Bridges concentrate value with complex code, and have produced the largest losses in the sector. Prefer not bridging where it can be avoided.
