Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: 17,800,000 BTC already mined
by
hatshepsut93
on 02/08/2019, 06:54:48 UTC
⭐ Merited by squatter (1)
this is not necessarily true. because the relationship between revenue and fees is not that easily.
small blocks which means higher fees will also mean less users and stop of adoption and the result of that is falling price and finally less resulting revenue for miners.
on the other hand bigger blocks can mean more transactions in block which have a higher sum of fee instead of having individual high fees and it also means more adoption and the result of that is higher price and finally a much higher revenue for miners.

It's like saying "no one goes there anymore, it's too crowded". Fees are high when there's a lot of demand for transactions, it means that Bitcoin is adopted, just maybe not for small consumer transactions. To support them on chain, we'd need gigabyte blocks, it's simple math. Maybe in the future average fee will be $10-20, but it will be viewed as an entry ticket to Lightning Network, or a small fee to pay for a big purchase like a car or a house.