Justin Bons, the founder and manager of Europe’s oldest crypto fund Cyber Capital, suggested that the price of Bitcoin (BTC) should double every cycle and explained the reasons.
Experienced investor Justin Bons is a recent social media in your postBons, the price must be lowered so that the Bitcoin network does not experience serious security crises. doubles every 4 years He claimed that he had no choice but to exit and mentioned the serious problems that can be experienced in the security of the network when considered long-term.
To miners who secure the network so that Bitcoin can continue to function “block reward” forthcoming payments under the may exceed even global income within decades. Considering that, Bons stated that this situation may create a sustainability problem. Analysts commenting on Bons’ claims two critical options they stood on it. At this point, either Bitcoin will continue to rise excessively to cover all these expenses, or the increase of bankrupt miners and chips will put the security of the network in serious danger.
On the other hand, this price increase to validators the next amount paid that it will be disrupted in 5-9 years thinking analyst,The security and technical foundation of BTC is made of sand” he said.
BTC should double in value every four years over the next century or incur extremely high fees just to maintain its current level of security. Such growth is impossible, as it will exceed global GDP in 33 years at current price. Then; BTC security is doomed! If you understand exponents and economics, you should know that this is completely impossible. The security and technical foundation of BTC is made of sand; False hope.
Long known for his Bitcoin advocacy, Bons not intended to defame and for truly believing in this movement about the impending danger stressed the warning. A similar warning last year Ethereum (ETH) co-founder Vitalic Buterine was also made by
Security issues in the future of Bitcoin Expressing his concerns about Bitcoin, Vitalik said in an interview that the way Bitcoin works. on a long-term basis may cause security vulnerabilities and at some point at least hybrid proof-of-stake system He said he might have to pass.