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The reward paid to miners is mostly newly minted BTC. Presently 6.25 BTC newly created with each block, about 1-2 BTC in fees. Mining has been paid for by incr
by rspeele 6y ago
The reward paid to miners is mostly newly minted BTC.
Presently 6.25 BTC newly created with each block, about 1-2 BTC in fees. Mining has been paid for by increasing the BTC supply, for all of Bitcoin's history so far. Eventually that will have to change as the reward keeps halving. At some point there is no block reward and it's all fees. Will people pay enough in fees to sustain mining at a rate that's impossible for a large actor to 51%?
- Ekaros 6y agoNo they won't. As the cost of 51% attack is actually the cost of fee of cancelled transaction(and subsequent ones) plus created coins. The attacker can collect all the fees also from those blocks they mined for attack... Ofc, if the mining is sufficiently large that it is impossible for anyone to collect enough power, then sure. But that is quite expensive proposition in general...