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No Bitcoin miner has a right to be profitable, no matter how big or small their operation. Instead they have the opportunity to be profitable if they manage their operation wisely. The difficulty adjustment helps to ensure this is the case.

One of my big issues with the OP_RETURN debates is this idea that today’s block reward itself is somehow not enough to incentivize miners, and the underlying assumption that demand for block space with never increase again unless all manner of shitcoinery is allowed to infiltrate network activity.

The block reward is substantial and will be for many years to come. No miner has a RIGHT to profit, as they are TOO BIG TO FAIL. All miners have opportunity to achieve it, and if some fail and more smaller ones spring up along the way as they see a chance for profit, then that’s a good thing.

I can’t help but assume that short-term self-serving interests are driving those who want to allow for more arbitrary storage on Bitcoin’s blockchain.

BitcoinMemeTreasury 8mo ago

The block reward will be substantial enough for decades to come, and transaction fees have already passed what the block reward will be in 30 years. There is no logical argument that goes, “we need spam so miners remain profitable.”

https://primal.net/e/nevent1qqsplg3rdj456y7hmgh3nwj4u2knmp0z3syu0h3y32nuqhffu9ud3gqfk468l

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Discussion

corndalorian 8mo ago

💯 And even before that, there is no logical argument that says a miner deserves to be or remain profitable in the first place. The difficulty adjustment allows hash rate to come and go without severely impacting the overall performance of the network. If a miner becomes too big to sustain their operation on current fees and block reward, then they need to scale back or shut down and that hash rate will go elsewhere over time. There is no need for bail outs or welfare to keep miners afloat, and that’s what the spam-advocates seem to want.

supermass 8mo ago

see here for my counter:

tldr is the current state of the filters offers a liquidity line to large miners to scrape these transactions up.

not arguing to remove the filter but really want to clear up the discussion more!

nevent1qqstyjtdrlql9ausyel992q2t4naaqkr0qe60dhp6hts89wfmp2463qpndmhxue69uhkummn9ekx7mp0y5erqamnwvaz7tmwdaehgu3wd3skuep0y5erqffjxpshvct5v9ez2v3swaehxw309ahx7um5wgh8w6twv5hj2v3sy5erqctkv96xzu39xgc8wumn8ghj7ur4wfcxcetjv4kxz7fwvdhk6te9xgc8wumn8ghj7un9d3shjtnyv9kh2uewd9hj7ffjxpmhxue69uhhyetvv9ujuumwdae8gtnnda3kjctv9utjlx7p