Quote from: NeuroticFish on January 11, 2022, 07:09:11 PM

Quote from: jordanlesson on January 11, 2022, 06:48:50 PM

Instead of block rewards, miners will mostly rely on transaction fees.

This is when I believe we run into a problem. This is because historically humans have a strong distaste for fees especially with simple actions on the Internet. If we want Bitcoin to become a global currency that is used for primarily every transaction, having fees is an easy way to deter new people from adopting Bitcoin as their main currency.

Where this kind of assumptions come from? Did you make any bitcoin transaction ever?
Even now people pay transaction fees. Last 4 blocks came with 0.15, 0.08, 0.03 or 0.1 BTC for the miners from fees. When the network is more crowded, the fees increase greatly.
So.. one error in the logic is about the fees. People do pay fees already for the transactions and bitcoin didn't stop existing.

Even more, although you don't seem to know, but you also pay transaction fees in the fiat world, when you pay with your card. Just nobody cares to tell you that the merchant included that into the price you see for the product/service you buy and he's paying that fee to Visa/Mastercard (or keeps the difference if you pay with fiat).<snip>

re ccard fees - at least in the US, the one place where it is obvious how much of a fee you pay for the convenience of using a credit/debit card vs paying cash is buying gas. Most gas stations charge (and are required to advertise it on their signs) around 10-cents more per gallon. A lot of small stores and restaurants will have a minimum you owe to use a card and often give a few % discount when paying cash.