Economics professor identifies future security threat to Bitcoin
Lawrence White, a prominent professor of economics at George Mason University, has highlighted a potential future security threat that faces Bitcoin (BTC). Speaking during an interview with David Lin published on October 22, Professor White expressed his concerns regarding the long-term sustainability of Bitcoin’s security , particularly about the evolving reward model for miners. While quantum computing has long been a topic of discussion in the world of cryptocurrencies, the scholar was unfazed by its potential impact on Bitcoin. Instead, he pointed to a different challenge on the horizon while noting that Bitcoin has emerged as hack-proof. “People have worried about the miners colluding to attack Bitcoin, but that wouldn’t be in their interest to do. So far, it’s proven hack-proof, and there are people who worry that in the long run, as the reward model for Bitcoin changes,” he said. What to expect after all Bitcoin is mined ...