/biz/ - Business & Finance

>>55524131
>>55524333
You are talking about today, I am talking about the future. Look at the graph I originally posted with the various emission curves. Monero's emission is currently below Bitcoins. Given their current respective prices (a whole nother discussion), obviously Bitcoin has a higher security budget presently. Bitcoin is only now approaching the years where the subsidy starts dropping to almost nothing and fees will have to take over. Monero, on the other hand, has just recently reached the point where the block subsidy will stop falling and remain at 0.6 XMR/block in perpetuity.

Bitcoin fees at their peak have been able to barely match the block subsidy for single blocks at a time. These were times when people were freaking out about fees too. The bitcoin model is going to rely on competition for block space to drive up fees. We are already at the maximum amount of TXs in a block, those TXs will just have to cost more. Inevitably this would mean bigger fish would be the ones that can afford to transact. Ultimately it would be a somewhat centralized system. Bitcoin will have to attempt a transition from the "permissionless currency" it built its initial growth on, to a new kind of banking system. This is quite a risky bet and not at all what most maxis seem to be thinking about.