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The 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 su
by gridlockd 6y ago
The 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.