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Fees have constituted just 1% to 2% of mining revenue over the last year (the other 99% being the mining reward ("coinbase") of 6.25 BTC per block). So, LN doe
by FabHK 4y ago
Fees have constituted just 1% to 2% of mining revenue over the last year (the other 99% being the mining reward ("coinbase") of 6.25 BTC per block).
So, LN does not reduce the incentive for Bitcoin miners in any meaningful way, unless I'm mistaken.
- ETH_start 4y agoThe mining reward declines geometrically, with a halvening every four years.
- sillysaurusx 4y agoThat’s temporary. If you read the original white paper, satoshi designed bitcoin to be miner-free. “People will probably always be willing to verify transactions for free,” or something to that effect. The rewards will transition to that 1% fee as the entirety of their business model.