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So... you'll have miners who have sunk huge investments into powerful computers who are unhappy to see their investments become worthless, and who have the comp
by nhaehnle 13y ago
So... you'll have miners who have sunk huge investments into powerful computers who are unhappy to see their investments become worthless, and who have the computer power to force high transaction fees onto Bitcoin users. That'll certainly be interesting to watch.
Somebody is going to lose big time. The question is whether Bitcoin as a currency will survive in the fallout.
- gwern 13y agoThe decline in block reward is gradual and predictable enough that your scenario simply won't happen.