4 ms·

Miners will get an exponentially decreasing amount of block rewards until 2140, but even 20 years from now the (BTC-denominated) size of the block rewards will

by paulgb 5y ago

Miners will get an exponentially decreasing amount of block rewards until 2140, but even 20 years from now the (BTC-denominated) size of the block rewards will be substantially lower than they are today. The price matters because they are BTC-denominated. If the price of Bitcoin doubles every 4 years, the security of the system can stay at parity with what it is today (assuming the real value of transaction fees stays roughly the same).

madacol 5y ago
Onchain fees constitute ~10% of current miners income, and that will probably increase, not decrease
- paulgb 5y ago
  As a percentage, it will certainly increase, but in real value? I’m not so sure, especially when on-chain transactions are competing with Lightning.