Hey guys,
I'd call myself a bitcoin enthusiast, I love hopium and reading Bitcoin friendly subreddits but I decided I'll try my best at finding Bitcoin weaknesses.
So I stumble on a reddit thread where someone explained that the major weakness of BTC is that mining BTC will offer diminishing profits as time pass.
If I understand well each halving events, mined blocks will reward less and less BTC. If the price increase, it might still be profitable in the next two halving, but unless BTC price goes to the moon I don't think as many people will compete for 1,5 BTC only each block (2028~).
Do you think the price of one coin could increase so much it could keep being profitable for as many mining facility as we have nowadays ?
Miners also benefit from transaction fees, but, BTC seems to be more and more considered as a store of value due to transaction time and expensive fees. From my understanding most payements would go through second layers systems, and miners wouldn't profit from these transactions.
Mining power being the security of the network, if mining is less and less profitable, will the BTC slowly collapse until someone manage to run a 51% attack or something ?
Curious to hear your opinion about this matter.
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