Summary

Data block

Collection item

Justin Drake proposed controversial solutions including removing Bitcoin's 21 million cap or transitioning to a Proof‑of‑Stake model
Justin Drake argued that if miners relied solely on fees, Bitcoin's hash power would drop by 100x, increasing vulnerability to 51% attacks
Kushal Babel, a researcher at Category Labs, argued that Bitcoin's network security should be evaluated based on transaction fee revenue expressed in US dollars rather than BTC, emphasizing that USD-based assessments provide a more accurate picture of the economic incentives for miners
Justin Drake described Bitcoin's current state as a "ticking time bomb" due to the declining proportion of miner revenue from transaction fees
Justin Drake, an Ethereum Foundation researcher, warned on X that Bitcoin's security model is unsustainable and represents a systemic risk to the crypto ecosystem
Justin Drake stated that Bitcoin transaction fees have been decreasing for 13 years and currently make up only about 1% of miner income

Data source type

Collection data source

Filter

{"where":{"AND":[{"attribute":"Jfmby78N4BCseZinBmdVov","is":"KeG9eTM8NUYFMAjnsvF4Dg"}]}}

Referenced by

EF’s Justin Drake warns about Bitcoin security

Crypto news

News story