Saturday, 4 August 2018

Fee question etc

Hi

Honest question I just thought about while lying in bed heh that I would like some opinions on.

Let's say 1 BCH is 10 years from now $1 Million. The minimum fee would then be around $2.25 per transaction (1 satoshi min, 225 bytes in a transaction). Would BCH then HF to make the minimum fee less than 1 satoshi? To keep the fees down. Or is there some other way.

The other question is. I assume the block size will keep on increasing so that blocks are never full. Is it then estimated that when the block reward goes to zero in ~2140 there will be enough transactions to cover that reward? At 6.25 BCH wouldn't there need to be a minimum of 2.8 Million transactions (6.25 / 0.00000225 ) per block to cover the reward.

But if the minimum fee was changed from 1 satoshi / byte it would take alot more than 2.8 Million transactions of course.

Give me your ideas please! :) I have a hard time wrapping my brain around how the fee can be kept low without changing the rules of 1 sat/byte. And how the rewards can be sufficient if the blocks will never be full.

Thanks

submitted by /u/zib123
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source https://www.reddit.com/r/btc/comments/94ghfs/fee_question_etc/

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