Replying to Avatar Chilidem

Hey, Bitcoiners! Steelman the arguments for why bitcoin will fail. I'm interested in hearing some of the reasons that orange coin is not going to succeed at becoming a common medium of exchange and/or unit of account from some psychopaths.
85
Kerner 2y ago

One big argument is that bitcoins security model will fail as miners rewards go down to nothing.

Take a look at this Twitter account: I think he has some valid points:

https://twitter.com/justin_bons/status/1635999496273375233?s=46&t=qOLQLqpQ9WSeRIM3gD4ssw

Reply to this note

Please Login to reply.

Discussion

Avatar
Chilidem 2y ago

Let's say bitcoin gets to $1M a coin in 2140 after all block rewards have been exhausted. The current fees we're seeing now are .2 btc (one recent block just had 3+ btc in fees). At $1M per coin, the $200k reward would be substantial more than the 6.25 + .2 (~$175k) that the reward is today. I don't think BTC's price going to $1M per coin is outlandish by any means. In fact, it's probable in my opinion. So, I understand the security budget concerns, I just don't necessarily put that much stock into them.