Post
Topic
Board Bitcoin Discussion
Re: Fees are high - a problem? Not for everyone!
by
Lucius
on 05/01/2024, 16:01:25 UTC
I love that everyone says just use LN, use LN, but if we would be able to go around with a lie detector and ask if they have used LN in the last 30 days we will see that there is a lot of empty untested regurgitated advice in all those lines.

I have to admit that I once tried to test LN and did not go further than that, because most of the services and payments I used with Bitcoin did not support that option. There is definitely a lot of repetition of what the members read, but they are far from understanding what they are actually writing about.

~snip~
Second, I'm really curious how this will work when miners will not get a single cent in fee, but I can picture it already, some scrap diver collecting 100-200 old miners from the dumpster will be able to not 51 but 99% the chain for a few months if he wishes.


That would certainly be a big problem because miners are certainly not in that "business" because they believe in Bitcoin, but they are interested in profit. We can assume that with the reduction of rewards per block, there will be fewer and fewer people who will mine, and in some 6+ years, when only 1% (210 000) BTC remains, I don't see how mining will be profitable anymore if there is no significant increase in fees. All solutions that go in the direction of LN or something similar are only part of the solution, and without miners and POW Bitcoin would not be what it is today.