Bitcoin developers' withdrawal from the project may become a black swan

The anonymous operator of Bitcoin.org, known as Cobra, has warned that the No. 1 cryptocurrency could collapse and fall to zero because developers will leave the project or almost stop updating the core due to legal risks or burnout.

Such a scenario could kill the cryptocurrency industry forever, according to the analyst. «You will simply lose everything,» he said.

Cobra’s comments came after the project’s longtime leader, Bitcoin Core, left the project, reducing the size of the group from six to five people.

Similar concerns were published in a recent Wall Street Journal article about the impact of professional burnout and legal threats to CTS developers.

The group of five programmers currently maintaining Bitcoin Core plays a crucial role in ensuring the security of the Bitcoin network. These are the people who ensure secure system updates, compatibility with the latest operating systems, and transaction volumes.

However, there is no mechanism to support developers. Most of the developers' salaries are paid through an extensive network of donors, which raises concerns about potential conflicts of interest.

It is known that the development team has fixed a bug at least once that could have destroyed bitcoin as a cryptocurrency.