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952 sats \ 9 replies \ @guerratotal 3 Jun \ on: Are you comfortable with Bitcoin's security model? AskSN
This is one of the most important and uncomfortable conversations in Bitcoin… and it should be.
Am I comfortable? I’m not sure “comfort” is the right word. Bitcoin was never designed to make anyone comfortable — it was designed to be antifragile.
Yes, the security model is based on incentives that change over time. The block subsidy fades, fees become the primary security budget. Will fees scale enough? Nobody knows for sure. But the beauty of Bitcoin is that it forces reality checks. Either the network adapts — through higher fees, L2 adoption, or market-driven solutions — or it fails. There’s no bailout for bad incentives here.
It’s the opposite of fiat systems where the unsustainable gets prolonged indefinitely through coercion. In Bitcoin, unsustainable models collapse early — and that’s a feature, not a bug.
Are the risks real? Absolutely. But show me any system with perfect security incentives over centuries. Bitcoin is still the most transparent, predictable, and opt-in monetary system humanity has ever had.
The alternative is trusting systems where the real security model is: “because we said so.”
Would love to see more minds grappling with this openly, like you’re doing. This is how the protocol hardens — not just with code, but with conversation.
I totally agree with you, for me Bitcoin has one of the most perfect networks.
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"It’s the opposite of fiat systems where the unsustainable gets prolonged indefinitely through coercion."
Sorry. Had to chuckle at this.
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Because that's exactly what Bitcoin is.
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Bitcoin has been subverted into a positive feedback loop for concentrating wealth in the hands of a few. The richer you are the faster you can get more rich. Wealth = power = coercion = crime = a failed state. Pay to play organized crime. That may be the status quo but no one would vote for that.
Sorry, for those of you confused about this, it can be hard to see a problem when your job depends on not seeing the problem.
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The world isn't a 0 sum game. And 1 sat from a person with 100 ₿ appreciates exactly as fast ast 1 sat from a person just owning 1 sat.
And gives us everyone a way to escape a broken system. Tools don't need to be perfect, just better than everything else available at the time.
Bitcoin is being used to move purchasing power between very poor countries where the option before was paying 50% between taxes and Western Union fees (or whatever company).
Of course already wealthy people can potentially buy more pieces of any tool. But I would argue that in this case, Bitcoin is way more important and benefitial for the poorest. Rich people can choose where they live and have a lot of options to preserve their wealth. Poor people don't.
You could say a tool that purifies water is unfair and evil because rich people can buy lots of those devices. But in reality, having access to clean water is not really a big problem for them to begin with, whereas for poor people it can be a life changer.
I don't understand the friend's point either.
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