Post
Topic
Board Bitcoin Discussion
Re: Analysis and list of top big blocks shills (XT #REKT ignorers)
by
Quantus
on 11/01/2016, 21:18:06 UTC
There is no reason why bitcoin can't be the all in one package we all want it to be someday but right now there is not enough demand to support the network with low fees.
We should only raise the block size in minuscule increments to keep fees high enough to support a robust mining community.

I like your point.

Except that right now the network should not be supported by fees but by the block reward.




Your missing my point completely transaction fees + block rewards are more or less = to the amount of money reinvested in hardware to mine bitcoins. As the block rewards drop in these massive chunks every 4 years so dose the amount we as a network spend on security. Let me be clear Block rewards account for the majority of this and with each halving day we lose more or less 50% of our network security. The fees the network gathers today are virtually worthless, some miners don't even bother processing transactions because its not worth their time.  This house of cards will collapse unless we can secure stable income for the miners now!