<<  >> (p.2)
    Author Topic: Question About Bitcoin Blocks  (Read 393 times)
    o_e_l_e_o
    In memoriam
    Legendary
    *
    Offline Offline

    Activity: 2268
    Merit: 18884


    View Profile
    January 30, 2022, 01:00:09 PM
     #21

    We'll worry about this after the last SAT is mined, which we probably won't get.
    It will become an issue long before then.

    The last sat will be mined around 2140. For 40 years before that, the block subsidy will be less than 1000 sats. For 40 years before that (which is 2060, so really not that far away and within the lifespan of many people currently using bitcoin), the block reward will be less than one thousandth of what it is now, at 0.00610351 BTC or less. This is nowhere near enough to support the current level of mining activity on its own. Indeed, in will only take 4 or 5 more halvings for the block subsidy to consistently be less than the amount of fees currently being collected in a block.

    Fees will pay a very important part of mining rewards within the next 20 years. We certainly won't be waiting until 2140 for this to be an issue. A combination of more transactions in a block and higher bitcoin price in fiat, as well as times of higher fee rates in sats/vbyte, will need to be enough to sustain a sufficient level of mining activity to secure the network.
Page 1
Viewing Page: 2