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/biz/ - Business & Finance

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23630220 No.23630220 [Reply] [Original]

Seriously, all the coins are mined, theres no reason to mine other than maybe fees?. wouldn't that mean way way less miners and way way less security?

>> No.23630357

>>23630220
network fee will be enough motivation

>> No.23630365

each btc tx will cost at least 10k USD to send so that will be the incentive

>> No.23630369

>>23630220
you will be dead by then, who cares?

>> No.23630743

Ethereum flips Bitcoin

>> No.23630870
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23630870

>>23630220
It's a serious problem, that fanatics are not talking about .Bitcoin was designed to give block rewards only at the beginning so that miners would have incentive to mine. After some time miners would start to earn more and more from fees. And in the end there would be no block reward, and miners would earn revenue purely from fees. The problem is, that there is an artificial limitation which limits blocksize to 1 MB blocks, and lets people to perform only around 4 tx/s. Because of that there is only a fixed amount of transactions that can be made in one moment which means, that costs of performing transaction will cost hundreds of dollars. Today it is $12,5. The solution is simple. Just lift off the block size limit completely. Let miners to compete for making big blocks, which would mean revenue for miners, and low fees for users. The problem is, that bitcoin was overtaken by Bildenberg group through blockstream.