Post
Topic
Board Economics
Re: Are terms pyramid scheme and ponzi scheme misused?
by
AnonyMint
on 28/11/2013, 01:46:03 UTC
The stats are here, it's 0.69% of miner revenue (good guess!).

...is just $18,000 a day...

So with Transaction fees in the ~$30,000 range it looks like the fees are roughly able to pay for electricity, a somewhat surprising result actually.

You missed the failure mode.

If miner revenue is to be only a tiny fraction of commerce, then 50+% attack is extremely likely.

Only perpetual coin rewards can secure the network adequately.

Otherwise transaction fees must be too high, and also significant revenue from transaction fees allows the Transactions Withholding Attack.