Quote from: shorena on January 09, 2017, 01:09:09 PM

Quote from: st0nefish on January 09, 2017, 12:45:23 PM

At the moment the miners for a block are awarded 12.5 BTC. Every 4 years this value will fall by half. For example, let's imagine that the prize value is 1.5 BTC for each block and that BTC's value against the dollar does not increase. In such a case, mining will not be very profitable.

If all goes according to plan the block reward will be replaced by fees.

Quote from: st0nefish on January 09, 2017, 12:45:23 PM

At the same time, miners are also benefiting from the value of the fee. This time the fee values will increase. Then people will have to pay a high fee for bitcoin transfer. The biggest advantage of the Bitcoin system against banking systems was that they could shop without paying commissions to any brokerage house.

Bitcoins biggest advantage is that its trustless. Anyway the plan is that more transactions will be included per block thus the total reward from fees will increase without the need for the fee per transaction to increase (significantly).

Quote from: st0nefish on January 09, 2017, 12:45:23 PM

If this happens, can bitcoin preference be reduced?

Can you rephrase that?

That's what I want to say: If the scenarios I mentioned above happen, can people use bitcoin less? So people may not prefer to use bitcoin.