Emin Gün Sirer alerts on the long-term security of Bitcoin: a challenge for miners

Emin Gün Sirer, founder of Avalanche and a recognized figure in the cryptocurrency ecosystem, published a warning on May 10, 2026, regarding the long-term security of the Bitcoin (BTC) network. In a message on the X platform, he highlighted the risks associated with the gradual decline in miner incentives , a phenomenon exacerbated by successive block reward reductions (halving). According to Sirer, this trend could weaken the network’s security if transaction fees fail to offset the decline in miners’ revenue. What Happened The latest Bitcoin halving occurred in April 2024, halving the rewards given to miners for validating blocks. Since then, miners have increasingly relied on transaction fees to maintain profitability. Emin Gün Sirer notes that this situation could, in the long run, make the network vulnerable to 51% attacks or promote increased centralization of mining power. In his analysis, he emphasizes the lack of sufficient structural adjustments to compensate for this loss of revenue, which could undermine decentralization and the robustness of the protocol. Why It Matters Sirer’s remarks come at a time when investor confidence in Bitcoin is already under scrutiny, particularly due to its volatility and role as a store of value. A deterioration in network security could undermine Bitcoin’s long-term credibility , seen as a resilient asset since its inception. In the short term, this warning could amplify the volatility of the BTC price, while in the long term, it could reignite debates about potential protocol adjustments. Among the proposed solutions are increasing transaction fees or implementing additional subsidy mechanisms to support miners. The reactions of industry actors, particularly major mining pools like Foundry USA or Antpool, will be crucial in assessing the severity of the risks raised. A coordinated response from miners could alleviate concerns, whereas prolonged silence could fuel speculation about potential structural vulnerabilities in the network. To Watch The statements from major mining pools (Foundry USA, Antpool) in response to Sirer’s remarks. The evolution of transaction fees on the Bitcoin network and their ability to compensate for the decline in block rewards. Discussions within the Bitcoin community about potential protocol adjustments to strengthen long-term security. The potential impact on the BTC price and investor confidence, particularly among institutional investors. Initiatives aimed at improving the energy efficiency of mining, which could influence miners’ profitability. As Bitcoin remains the world’s most capitalized cryptocurrency with a valuation of over $1.6 trillion, warnings like Sirer’s underscore the importance of maintaining a balance between decentralization, security, and economic incentives. The next few months could be decisive in determining whether the network can meet this challenge without compromising its foundations.