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If it’s truly digital gold, that will only lead to the demise of the chain as a result of block rewards going down and not enough transaction fees to support th
by kinakomochidayo 2y ago
If it’s truly digital gold, that will only lead to the demise of the chain as a result of block rewards going down and not enough transaction fees to support the miners. Bitcoin truly has a security budget issue.
- cryptoegorophy 2y agoDoesn’t it self regulate? If there is too fewer miners then reward goes up? Also, unlike gold, you can anonymously transport it around the world without getting robbed.
- bornfreddy 2y agoNitpick: the reward doesn't go up, but the difficulty goes down.
- Self-Perfection 2y agoYou seem to be arguing that if block reward sufficiently drops, everyone will stop mining and new block cease to be generated. Why would it happen? If everyone stops mining that it would be enough to run mining on cheapest laptop and collect all the reward.
- kinakomochidayo 2y agoI didn't say that mining would cease - it's that there would be way less incentive for people to mine, so less hash power, and more susceptible to 51% attacks.