Replying to Avatar siwprimus

Satoshi designed #Bitcoin to reward #miners aka #hashpowerproviders with newly issued #BTC until 2140... but there will still be #hashing after 2140, as long as #Bitcoin circulates, due to transaction fees. The value of the fees on the base layer will keep the incentives aligned.
Avatar
Melvin Carvalho 2y ago

Fees are much smaller than the block reward, which decreases exponentially. Countries with cheap energy wont mine alot of bitcoin, but they can buy alot of bitcoin.

Reply to this note

Please Login to reply.

Discussion

Avatar
siwprimus 2y ago

Base layer fees in 100 years when the world is most likely on a full #Bitcoin Standard will be well worth the #HashPower expended. Satoshi made sure of it, so the protocol will survive & thrive!

Avatar
siwprimus 2y ago

Mining #Bitcoin is probably THE most efficient use of cheap energy... it will make those countries wealthy, so why wouldn't they?

If the incentives align, that's what ppl will do... humans will always do what's most profitable!

Avatar
siwprimus 2y ago

Buy with what?

We already established what Gresham's Law does when you try to replace value-for-value with value-for-nothing...