Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
bambou
on 06/10/2015, 21:05:07 UTC

Miners revenues are mandatory to ensure the network's security.

While the block reward tends to 0, it is natural for a fee market to emerge, or else there would not be any incentives left for the miners to keep spending the resources that a POW system requires.

Meanwhile, you can enjoy transacting for nearly nothing.

Yeah, that's my thought. A fee market should be allowed to emerge naturally, not artificially by restricting resources.


This is the purpose of the "artificial" restriction: prevent spamming and hence, allowing a fee market to emerge... naturally.

If no restriction in supply (as it also goes with the 21m cap), then there would not be any incentives for miners to pursue their amazing stacking of hashpower... which in the end ensures the system security.