Re: Bitcoin's Future: What Happens When the Block Reward is Lower Than Fees?
@ETFbitcoin
@BitDane
Attention please , just I asked for learning.
Assuming we are in 2072 where blocked rewards 0.0007629 BTC per every 10 minutes. And Halving BTC mined in cycle 160.2172 BTC
How can mining be commercially profitable in this situation seems very difficult to me.
Assuming that mining power consumption, electricity costs, and maintenance costs will be lower in a tech-driven economy, what will be the condition of the BTC market if BTC mining blocked mined cycle approach zero?
As I have said I do not look past 2056 I will be 99 and very likely dead or I simply won't care if BTC is working.
I see a lot of problems with BTC and current scaling issues and a shift to LTC/DOGE as a more likely solution than BTC continuing to work well.
UI have also made a case for BTC to still give out 21 million coins but to slow the ½ pace to 8 years vs 4 years.
this means 20 minutes for blocks
this means 144 blocks a day slows to 72 blocks
It means the remaining 2,000,000 coins are given out slower.
It means more incentive to use LN since the blockchain will be slower.
I have a thread on it.