One super interesting take from a conversation with @drakefjustin:

Bitcoin’s security model will be broken in 10 years. ETH will be the only money left — ultrasound, credibly neutral, decentralized, and economically sound.

Here’s a deeper dive into why Bitcoin’s model might not hold up:

> Bitcoin relies on miners for security. Today, miners are paid through a block subsidy (newly minted BTC) and transaction fees. The subsidy is the dominant component, accounting for more than 90% of miner revenue.

> But every four years, the subsidy is cut in half. This means Bitcoin’s native inflation, which effectively funds its security, declines exponentially. Eventually, the network will rely entirely on transaction fees to incentivize miners. There is no guarantee that fees alone will be enough to maintain adequate security.

> Some argue that BTC's price will increase and make up for the lost subsidy. But if you run the numbers, the flaw becomes obvious. As the price of BTC rises, the value that miners are securing also rises, often by a much larger factor. So you're effectively paying less and less to secure more and more value.

This isn’t FUD. It’s a real, long-term economic question baked into the protocol’s design.

Hard to imagine what crypto will look like in 10 years. But one thing feels increasingly likely:

The ticker is ETH. 🦇🔊