Is AI actually a Bitcoin risk, or are people mixing up different threats?

I keep seeing people say AI could “break Bitcoin,” but I think that phrase is doing a lot of work. Liron Shapira recently argued there’s a serious chance BTC could drop 50%+ within the next two years if AI weakens the security assumptions people have about it. Vitalik pushed back and made a distinction I think is worth discussing: some problems at the client or network layer could potentially be fixed with upgrades, while actually breaking SHA-256 or proof-of-work would be a much bigger problem.

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