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12 sats \ 2 replies \ @kepford 18 Nov 2023 \ parent \ on: The current block fees are higher than the next block reward bitcoin
I really don't get the concern about the removal of block rewards in 100 years. If bitcoin is adopted by the world fees on chain are gonna be substantial and purchasing power per sat is going to be much higher.
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0 sats \ 1 reply \ @WeAreAllSatoshi 18 Nov 2023
I think you make a good point. Ultimately it should not matter, assuming the network is heavily used. However, I think it helps people be more comfortable with using the network long term when they see fees make up a larger portion of the rewards
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0 sats \ 0 replies \ @Bullen OP 18 Nov 2023
This partly, but also... Thinking about the fees long term is tricky.
Imagine when the whole world uses it, fees might be 10 times higher. But as bitcoin absorbs more value, each satoshi carries more weight. So initially the fees will rise, but with time they'll dwindle.
I guess there's going to be an ebb and flow in fees, just like today. Maybe the base layer would mostly be used by us who stacked really early and can afford it + companies. Idk. Either way I might bump up my smallest UTXOs a bit....
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