In this crypto news, critics argue that Bitcoin (BTC) has abandoned its fundamental principles and lost its cypherpunk ideals. The governance of BTC is said to be controlled by a small group that impedes scalability improvements and threatens the long-term viability of Bitcoin. The limited scalability of BTC results in high transaction fees and forces users towards centralized custodians, contradicting the original vision of decentralization. The lack of scalability could also trigger a "bank run" scenario, trapping liquidity and shaking investor confidence. The security model of BTC is also in jeopardy due to the prevention of transaction volume growth, potentially requiring an increase in the 21 million supply cap. The critic predicts BTC's collapse within the next decade if no changes occur and calls on the community to embrace alternative projects that prioritize decentralization and scalability. While uncertainties remain about the future of Bitcoin, its supremacy will be challenged if critical changes are delayed.



Other News from Today