Post
Topic
Board Mining
Topic OP
Bitcoin's Reduced Rewards,
by
bitnote
on 30/10/2023, 10:03:56 UTC
As the number of bitcoins awarded to miners decreases over time through halving events, the impact is twofold. Miners, who initially relied on substantial block rewards, must increasingly depend on transaction fees for income. This reduction is part of Bitcoin's design to control its total supply, with the finite limit of 21 million bitcoins in mind. The shift from block rewards to transaction fees could influence miner incentives and the network's overall security and sustainability.