Post
Topic
Board Development & Technical Discussion
Re: Ordinals and other non-monetary "use cases" as miner reward on 2140+
by
pooya87
on 18/06/2024, 03:11:40 UTC
Disagree. The fee structure is a fundamental pillar on Bitcoin. Without that incentive there is no one to process blocks which contain transactions.
We can only speculate for the near future not 100 years from now. And we already have the history to work with.
For example 10 years ago miners were being paid 25BTC per block with nearly no fees but that was a $5,000 reward.
Today they are being paid 3.125BTC and even without any additional fees that is like a $200,000 reward.

That's been more than enough incentive.
In the near future (like next 10 years) people all agree that price rise will continue. So there is no valid arguments left there for "incentive for miners" either.

Quote
As far as high fees, people will just use 2nd layers.
I disagree.
First of all for a secondary layer to function well and give people incentive to use it, the primary layer that this 2nd layer depends on has to work smoothly. People aren't going to be able to open channels and settle them easily if the fees are outrageously high.
Secondly if you checked the LN stats over the past year, there has been drops in usage (number of open channels, capacity, etc.) each time that the Ordinals Attack was at its peak and had caused a huge fee rise. That proves my first statement.