Crypto 360°

Monday, 8 February 2021

Genuine long-term question regarding a larger block size.

I've been a long proponent of bigger blocks, so I hope this isn't seen as a shill question.

Here's me posting our first ever big-block on this subreddit.

But I am concerned about the long term future of big blocks. In a few decades, the block reward will be significantly diminished. We're talking about the future where the block reward isn't 6.25 coins, but instead is in the 5-6 digits of satoshis and less.

Bitcoin was designed so that as the miners become less reliant on the new-coin generation portion of the block reward, they will become more reliant on the transaction fees in the block - and as the year 2140 approaches and passes, the miners will be 100% reliant and incentivized to mine through the transaction fees of the blocks they mine - and we NEED those miners in droves, or else we are subject to 51% attacks and malicious parties

So, my question is - if we have large enough block sizes that permit people to actually send transactions quickly and for pennies decades from now, with room in the blocks to spare - what will be incentivizing the miners to actually mine? They wont be getting the revenue they would be anymore from new coin generation, and they wont be getting the TX fees since the blocks are big enough that even a 1sat/byte fee can fit.

Or am I overlooking something?

submitted by /u/8A8
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source https://www.reddit.com/r/btc/comments/lez4v6/genuine_longterm_question_regarding_a_larger/

Bought my kids a new bedtime story

submitted by /u/gefilthyfish
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4 out of 5 apps in the top 5 free apps in Finance in the UK are crypto apps. Bitcoin to the moon I say 🚀

submitted by /u/ameliearras
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Some guy somewhere said.

Bitcoin is a bad asset said every shmuck i quote "topping over 40k" this month. Every time bitcoin hits a new high shmucks crawl out of their coco bolo desk to tell us bitcoin is a bad investment by saying it just topped over some amount , this happened when it hit 10k ,20,30 and it keeps going on. Rich Folk who cant cope with the fact that pink sheet trading is long dead and cant modernize and accept decentralization, it just makes me angry how search engines and media keep pushing that onto every one who has typed btc to usd once in their life time.Im just happy that btc has hit higher than ever and that fuckers who say bitcoin is a bad investment and ^everyone will lose their money^ are scared of crypto and how large it will become.

submitted by /u/Nominous69
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