Post
Topic
Board Bitcoin Discussion
Re: 19M Bitcoins are mined but did you know about the last Bitcoin mined?
by
franky1
on 08/04/2022, 04:52:46 UTC
Yeah, I remember how SegWit dropped the transaction prices and I guess something similar will have to be created so that more transactions fits into one block. Then maybe the block reward payed only by a transaction fee will be enough.

I didn't think that fiat will be worth anything in 120 years. I just made an example how would that look today in fiat value. But I guess one of the solutions is layer2 for small transactions. I'd write "we will see" but I guess we won't. Maybe our kids will see Grin

1. they didnt drop the fee..
they instead made old transaction formats 4X more expensive. here its in the code. its a 4X increase of legacy
https://github.com/bitcoin/bitcoin/blob/master/src/consensus/consensus.h#L21
https://github.com/bitcoin/bitcoin/blob/623745ca74cf3f54b474dac106f5802b7929503f/src/consensus/validation.h#L143
see it says *4

also fee's in 2009-17 were sub 1cent-10cents.. fee's are now $1-$3

note the flatline upto 2017.. and then the large ups and downs