{"id":211969,"date":"2022-01-18T01:00:32","date_gmt":"2022-01-18T01:00:32","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=211969"},"modified":"2022-01-18T11:51:41","modified_gmt":"2022-01-18T11:51:41","slug":"could-bitcoins-security-be-weakening-lets-talk-about-it","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/could-bitcoins-security-be-weakening-lets-talk-about-it\/","title":{"rendered":"Could Bitcoin\u2019s security be weakening? Let’s talk about it"},"content":{"rendered":"

Bitcoin proponents claim that Bitcoin<\/a>\u2019s security is unquestionable and fears surrounding halving events are blown out of proportion. Critics, however, argue that transaction fees might not have the capacity to counteract the declining block rewards, driving the network\u2019s security budget down.<\/p>\n

While 2022 started with the Bitcoin hash rate at an all-time high (ATH), and the total miner revenue up over 400% since halving, the topic deserves attention in the light of Bitcoin payments declining.<\/p>\n

Need for block subsidy<\/h2>\n

Designed to cap the total number of coins issued at 21 million, Bitcoin halving is a cyclical event that cuts rewards for miners in half, and occurs roughly every four years.<\/p>\n

According to Satoshi\u2019s vision and design, \u201cin a few decades when the reward gets too small, the transaction fee will become the main compensation.\u201d<\/p>\n

This assumption is contingent on one major fact\u2013Bitcoin becoming broadly adopted, as the network\u2019s growth is expected to drive the demand for block space, eventually decreasing the need for a block subsidy.<\/p>\n

According to Morgan \u201cMo\u201d Bennett, this topic needs more air time.<\/p>\n

\n

9 out of 10 people holding #bitcoin<\/a> still have NO IDEA that $btc<\/a> security is continuously weakening.<\/p>\n

"Yea I heard that the block reward is getting smaller, but fees are replacing it, right?"<\/p>\n

No, not right! <\/p>\n

Some updated data on btc security:<\/p>\n

1\/\ud83e\uddf5<\/p>\n

— Mo (@MorganTBennett) January 15, 2022<\/a><\/p><\/blockquote>\n