Just wondering, does this make any sense?
https://twitter.com/Justin_Bons/status/1810357305390616839
1/38) BTC's security model is broken
It has to double in price every 4 years for a century or sustain extremely high fees!
Just to maintain the present level of security...
Which is impossible, as it would exceed global GDP within decades
Therefore, BTC security is doomed!
2/38) Each halvening exponentially lowers the security budget; until it is gone!
These halvenings continue after exceeding global GDP for atleast 70 years before running out completely
If you understand exponentials & economics, you should know that this is entirely impossible!
3/38) Fees will also never reach sustained extremes due to the ratcheting effect of the fee market
Paying hundreds of dollars for a single TX is not realistic in a competitive free market
When fees spike, users leave, all due to the unnecessary addition of the block size limit!
4/38) This all means that BTC's long-term security is unsustainable without extremely high TX fees in the future!
The security of BTC will inevitably continue to decrease until it becomes profitable to attack
I predict this will happen in 4-12 years from now! (1-3 halvenings)
5/38) Hashrate does not equal security; bitcoiners like @saylor do not understand PoW
This chart of miner revenue proves that BTC's security is actually lower now than it was 3 years ago!