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In the long term yes the halving schedule must lead to huge fees (eventually there will be zero inflation). As inflation decreases, miners have to be paid by fe
by ajkdhcb2 6y ago
In the long term yes the halving schedule must lead to huge fees (eventually there will be zero inflation). As inflation decreases, miners have to be paid by fees to secure the network. Otherwise the security collapses.
- gridlockd 6y agoThe fees are paid by the users of the network, if the demand on network transactions is low, there will be little reward for mining. This means that without sufficient demand for transactions, a majority of miners would have to abandon the network, which would indeed put network security at risk. Therefore I predict that the miners will make the supply of Bitcoin unlimited, should that situation occur. They already got their way with keeping the Bitcoin block size fixed, which kept transaction fees high.