⚡️ 1 sat 🤔 I can’t wrap my mind around the idea that 10 minutes of world energy consumption could be equal to 1 sat.
#Nostr #Bitcoin
CAN YOU? #asknostr
⚡️ 1 sat 🤔 I can’t wrap my mind around the idea that 10 minutes of world energy consumption could be equal to 1 sat.
#Nostr #Bitcoin
CAN YOU? #asknostr
txn fees will be the profit motivation at that point in all fairness
nostr:note1qyg26yf9ev6hrt0gm9jlqhnfhupnw56atmh5mg8u04xwkggkalys5xu488
Crazy what a Sat will be valued…
it wont be, that's just the subsidy and does not include the tx fees.
Around the year 2140, the Bitcoin block subsidy will cease to exist. This means newly "minted" Bitcoin will no longer be awarded to miners for processing transactions.
Instead, transaction fees will become their sole source of revenue. To maintain profitability, miners will need to ensure these fees exceed their operational costs, such as hardware and electricity expenses.
However, it's projected that by 2140, advancements in technology will lead to significantly cheaper energy costs and more efficient hardware, ensuring cost-effective mining operations.
I other words: Bitcoin has the potential to pave the way toward energy abundance. By incentivizing innovation in energy production and efficiency, it could be a key technology in humanity's progress towards a Kardashev Type II civilization.
