Founder of Cyber Capital Justin Bons made a resonant statement: BTC is the 'naked king', and its security is under threat.
Key points of the forecast:
Security budget: Due to the halving mechanism, miners' rewards are reduced. If the price of BTC does not double every 4 years, mining will become unprofitable.
Threat of attacks: The fall in hash rate will open the door for 51% attacks, double spending, and forced forks.
Commission issue: Network fees are not rising quickly enough to compensate miners for losses from halving.
Timelines: The critical point will occur in 2-3 halving cycles (approximately 7-11 years).
"Code and math do not lie. The security of BTC today is lower than it was 5 years ago," claims Bons.
That is why the security of BTC will inevitably continue to decline until attacks on it become profitable. Thus, we can roughly estimate the timelines of this collapse (7-11 years), as they are based on the halving cycle," said the expert. He identified the risk zone during the next 2-3 reward reductions per block.
What is the exit? An expert believes that the only way to survive is to abandon the limit of 21 million coins and introduce a constant emission to support miners.
