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Bitcoin wants it to be expensive which is the problem
by nerdbaggy 6y ago
Bitcoin wants it to be expensive which is the problem
- core-questions 6y agoWhy would they want it to be expensive? Who gets the money?
- nerdbaggy 6y agoThe people running the miners. The higher the price the more money they make.
- thinkmassive 6y agoWhich means they’ll invest more to produce it, providing greater security to the network by making it more expensive to conduct a successful double spend attack. The users also want it to be secure. It’s a great alignment of incentives.
- nerdbaggy 6y agoYeah it just shows that there is incentive for prices to remain higher than lower
- deleted 6y ago[deleted]
- dn2k 6y agoCause fee replacing subsidy is the only way to ensure you can maintain the security without inflating the supply. Increasing the blocksize is not an opion. The solution is Lighting Network that allow cheap instant micropaymemts and leave large txs onchain where a tx is more expensive. LN is where most of the innovation is happening right now.
- zhoujianfu 6y agocore-questions indeed!!