Quote from: stompix on April 30, 2017, 01:34:28 PM

Quote from: Reid on April 30, 2017, 12:38:42 PM

What? Transaction fees will be larger than the block reward? That is kind of an insane number.
No one will support or use bitcoin anymore with that kind of number.
We know bitcoin is getting more expensive and who would want to make a transaction which is even more expensive than how much you will send.
They will be looking for another option if that happens.

Of course they will be. That is how bitcoin was designed , lol. Are your seriously surprised hearing that?
The block reward will constantly be halved it was 25 not so long ago it is 12.5 and it will go to 6 and so on.

With no changes in the block structure by the next halving fees will be higher than the reward....I think..I assume

Quote from: jtipt on April 30, 2017, 12:50:37 PM

I think you make a valid point here if everyone decides to use a lower fees then miners have no choice but to accept it, but the problem is as the difficulty of mining increases miners require more hash power and ultimately more money and also after halving they get half the bitcoin that they used to get. So if they are getting low fees low reward and mining cost us high then why would anyone want to mine anymore.

Oh , but they can...Don't you underestimate greed.

They could just stop accepting low fee transactions by not including them in the blocks.

At every halving due to increase scarcity - BTC value will double or more, thus less coinbase subsidy at a higher price = more value per BTC. Fees are not necessary now but in about > 20 years.