4 ms·
> The block reward covers miners expenses for the next 100 years or so No, it does not. It becomes insignificant in just a few decades (getting 32x smaller eve
by tromp 6y ago
> The block reward covers miners expenses for the next 100 years or so
No, it does not. It becomes insignificant in just a few decades (getting 32x smaller every 20 years). So a constant backlog of high fee paying transaction is important to long term security [1].
[1] https://bitcointalk.org/index.php?topic=5306354.0 https://bitcointalk.org/index.php?topic=5306354.0
- gruez 6y agoYeah, in about 70 years, the block subsidy for the entire year will only be 0.01373184 BTC. I highly doubt that would be enough to guard almost 21 million BTC from double spend attacks. That's the equivalent of spending $70,000/year to guard all the gold that's ever been mined.