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.

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On the contrary, he argued that fees are shrinking, and if miners had to rely only on fees, their revenue could plunge 100x. This would reduce Bitcoin’s hash power to just 1% of its current strength.

Justin Drake, an Ethereum Foundation researcher, claims that the security model of the Bitcoin network is broken, as transaction fees have failed to reach a significant fraction of the total network earnings, including the block subsidy.