Could Bitcoin suffer a similar ultimate fate?
The rapid increase in corporate custody and the dominant narrative of Bitcoin now being a speculative commodity (as opposed to it being a p2p payments protocol) have caused transaction volumes to decay reducing fees inputs into mining income.
Does the capture and control of the Bitcoin narrative by speculators endanger the viability of the longer term Bitcoin mining/security ecosystem?

Solomonsatoshi

econ

When Economics Attack: Monero’s Crisis, Misaligned Airdrops, and Zombie Chains

nkmg1c_ventures

> This isn’t another hack, not another rug pull, and it’s not someone’s seed phrase being leaked. There isn’t even a smart contract vulnerability. What’s unfolding with Monero is quieter, subtler, and far more unnerving. This is not a breakdown of cryptographic security, but of economics. And it could soon threaten many blockchains, especially those whose survival depends on the thin veil of subsidies and idealistic assumptions.