Bitcoin's fee structure and security risks

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Justin Drake explained that Bitcoin's security model is undermined by the fact that only 1% of miner revenue comes from transaction fees, while 99% depends on block rewards that are halved every four years and will eventually disappear.

Justin Drake emphasized that Bitcoin's declining transaction fees are shrinking the security budget and could make the network vulnerable

Justin Drake warned that the imbalance between transaction fees and block rewards could significantly weaken hashing power, leaving the network vulnerable to 51% attacks

Justin Drake believes that the cost of attacking the Bitcoin network may remain as low as $20 billion, even if Bitcoin reaches a $200 trillion market cap, making it vulnerable to a 51% attack despite its high valuation

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