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The coin you may or may not spend does not go to the people who incur the cost.
by maaku 12y ago
The coin you may or may not spend does not go to the people who incur the cost.
- kaoD 12y agoWell, then that's a flaw in Bitcoin.
- eob 12y agoAgreed. Now that the "get rich quick" phase of mining is over, there aren't many incentives for all the costs incurred.
- RubyPinch 12y agoIsn't that the reasoning behind transaction fees?
- kaoD 12y agoTransaction fees are for miners, but every full node in the network has to store the whole blockchain forever. There are thin clients using SPV, but we need full nodes for the network to function properly and currently there is zero incentive for it.
- jloughry 12y agoAside from helping the network, there is no incentive to run a full Bitcoin node. But it doesn't take much in the way of resources: a few tens of gigabytes of disk space and a few tens of kilobits/sec of bandwidth. (Don't forget to open a port on your router!) I do it for the same reason I give over an extra SSID to openwireless.org, or run a TOR exit node, or seed any file I got from BitTorrent for a while afterwards: it helps the network.
- ryan-c 12y ago> The coin you may or may not spend does not go to the people who incur the cost. The spent coin goes to nobody - it is burned into the blockchain as a transaction output that can never be spent, and cannot be pruned.
- rwallace 12y agoSurely that means it effectively does go to the people who incur the cost? Burning some coins increases scarcity, thus increasing the value of all other coins, so it's effectively a donation to everyone who holds bitcoin?
- maaku 12y agoI assumed he was talking about fees. You could make the output zero-valued.