While I agree that the danger is there, I don't think it will happen, yet. There is a race between regulation and finding a way to fuel Bitcoin the most efficient way. Regulations are coming on strong but miners are working hard to find the best energy source, at the minimum, to gain a mining cost advantage over the competition. The biggest advantage Bitcoin has is the security. The protocol itself has not been hacked. Ethereum has been hacked in the past and proof of stake has not proven its security robustness as of yet. So people that want to pick between the two will find better security with bitcoin.
Buterin, is right, the security will come down to fees when all the coins are mined. If the fees aren't high enough to keep the miners interested then the network will start to fail as the miners stop mining. But that's not expected to happen until 2140. A lot will happen between now and then. At some point the miners will have to deal with that but that's a long time from now.
My guess is that in 100+ years there will be many innovations to the Bitcoin protocol. All of them will make sure no one loses their coins. Self interest is the motivator for that.
The bigger danger is being regulated out of existence but that's not happening anytime soon.
Is that slitting hairs? The DAO was hacked early on. The DAO's hack was due to specific functions related to Ethereum. The inherit ability to program smart contract makes it open to attacks. I like the idea of the Ethereum but given a choice I will always pick bitcoin for security.
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[ 3.3 ms ] story [ 22.9 ms ] threadhttps://news.bitcoin.com/ethereum-co-founder-vitalik-buterin...
My guess is that in 100+ years there will be many innovations to the Bitcoin protocol. All of them will make sure no one loses their coins. Self interest is the motivator for that.
The bigger danger is being regulated out of existence but that's not happening anytime soon.
Citation needed for Ethereum protocol (not contract) hack.