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Bitcoin fees would simply double if that? Also one of the benefits to a mature proof of work system is that miners incentives align with the success of that cur

Bitcoin fees would simply double if that? Also one of the benefits to a mature proof of work system is that miners incentives align with the success of that currency. Imagine spending thousands of dollars on special purpose hardware only to attack the only system where they are useful. Bitcoin miners are bitcoiners, people seem to forget that.

ulrikrasmussen 5y ago
Aren't most of the rewards due to the generation of new coins? Currently 6.5 per block as far as I know. I haven't done the math to know if the fees are substantial compared to that. Edit: Recent block 695416 generates about 6.5 BTC to miners and has only 0.0748 BTC in total fees. Fees would have to increase by more than a factor of 64 to make up for the difference. https://live.blockcypher.com/btc/block/00000000000000000001cca1ecf8bf467ba97bd4e319e152e633f90464beb606/ https://live.blockcypher.com/btc/block/00000000000000000001c...