Bitcoin (BTC) is facing a major threat to its security!

Currently, the price of Bitcoin (BTC) is on an upward trajectory, which is excellent news for investors. After all, this bullish trend represents a significant opportunity for them to make substantial gains. However, Justin Bons, founder of Cyber Capital, believes that the flagship crypto could become a victim of its success. Here’s why.

The price of Bitcoin (BTC) has an impact on maintaining its security

The founder of Cyber Capital suggested last year that Bitcoin is the worst crypto. Today, he is stepping up to cite two essential options for maintaining Bitcoin’s level of security. He first talked about doubling the value of BTC every four years. Second, he mentioned an extreme increase in transaction fees. Justin Bons explained that the mining system of the flagship crypto governs the functioning of its security model. He specified that there needs to be a constant flow of new miners for the blockchain to remain secure.

1/9) BTC has to double in value every four years for the next century or sustain extremely high fees

Just to maintain the current level of security

Such growth is impossible since it would exceed global GDP in 31 years based on current price

Therefore; BTC security is doomed!

— Justin Bons (@Justin_Bons) April 23, 2023

In this context, there is a serious risk if the growth of Bitcoin continues at the current pace. Indeed, there will come a time when the cost of mining becomes too high. The number of miners is likely to decrease, leading to a decrease in the security level of Bitcoin. This suggests that maintaining the security of the Bitcoin network is inextricably dependent on the price of BTC.

In this case, Bitcoin risks becoming unsustainable if the price continues to follow the current pace. In fact, this increase could exhaust the blockchain’s security budget. Bitcoin would then become vulnerable to censorship. If the flagship crypto wants to avoid this situation, it will have to find a new method for maintaining its security.

Bons explained that the best solution to solve Bitcoin’s problem is to increase the inflation of the BTC supply beyond 21 million. At the same time, he suggested that Bitcoin’s security and technical foundations are fragile. Moreover, the growth model of the flagship crypto would be based on “false hopes.”

Indeed, according to the founder of Cyber Capital, it is unrealistic to pay hundreds of dollars for a single transaction. Especially since the market is highly competitive, and an increase in fees scares away users. Bons emphasized that the situation is worsened by the block size limit, which is also at the center of the Ordinals controversy.