Ethereum Foundation developer warns Bitcoin security is a disaster waiting to happen

Description

Ethereum Foundation researcher Justin Drake warns that Bitcoin’s reliance on low transaction fees threatens its long-term security and may lead to systemic risks unless structural changes are made.

Authors

Oluwapelumi Adejumo

Publish date

May 30, 2025

Publisher

CryptoSlate

Web URL

https://www.cryptopolitan.com/ethereum-foundation-developer-warns-bitcoin-security-is-a-disaster-waiting-to-happen

Referenced by

EF’s Justin Drake warns about Bitcoin security

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News story

The researcher noted that Bitcoin fees have constantly declined for over a decade despite halving and reducing the issuance rate. In fact, the fees are falling faster than the issuance rate on the network, with a 30-day moving average (MA) of Bitcoin transaction fees currently at 6.5 BTC per day.

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Quote

Critics argue fee revenue should be viewed in USD, not BTC, and say the problem lies in Bitcoin’s drift from Satoshi’s “digital cash” vision.

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