Mining rewards include both the block subsidy and transaction fees. The subsidy is what leads to inflation, but since it predictably halves every four years and that property of bitcoin has never changed, it is disinflationary. Transaction fees, however, are a consequence of bitcoin as a utility as a medium of exchange, unit of account, and store of value. However, Bitcoin the blockchain, is also useful for performing trustless trade, and timestamping records, and that's always been the case, even before SegWit. The hope is, Bitcoin's utility alone will outpace the necessity for inflation to keep it secure. Just something to keep in mind. But we should never compromise on block size, for if block space is easy to make. blockchains begin to break. And nothing has less utility than a blockchain experiencing network failure. And this is why those who once built on BSV are now buildling on Bitcoin. BRC-20 is the denouement of the Block Size wars. The small blockers won. And fees aren't even all that high; back in 2017, people were paying $100 in tx fees. We've come a long way since then.
789290: 00000000000000000005ce83d7130d8b713a93896bb89d81a4db78a2202c6332
HunterBeast / Hunter ₿eaṩt
npub1qq…clxwk
2023-05-11 20:13:42
Author Public Key
npub1qqqqqqqrxtrcx8vut2vlrqa0c2qn5mmf59hdmflkls8dsyg9vmnqsclxwkPublished at
2023-05-11 20:13:42Event JSON
{
"id": "00000014435c1f5cd84b35600fd07fb685912ff0269a698bf4306f09e05a7f3e",
"pubkey": "000000000332c7831d9c5a99f183afc2813a6f69a16edda7f6fc0ed8110566e6",
"created_at": 1683836022,
"kind": 1,
"tags": [
[
"client",
"gossip"
],
[
"nonce",
"7493989779947545419",
"24"
]
],
"content": "Mining rewards include both the block subsidy and transaction fees. The subsidy is what leads to inflation, but since it predictably halves every four years and that property of bitcoin has never changed, it is disinflationary. Transaction fees, however, are a consequence of bitcoin as a utility as a medium of exchange, unit of account, and store of value. However, Bitcoin the blockchain, is also useful for performing trustless trade, and timestamping records, and that's always been the case, even before SegWit. The hope is, Bitcoin's utility alone will outpace the necessity for inflation to keep it secure. Just something to keep in mind. But we should never compromise on block size, for if block space is easy to make. blockchains begin to break. And nothing has less utility than a blockchain experiencing network failure. And this is why those who once built on BSV are now buildling on Bitcoin. BRC-20 is the denouement of the Block Size wars. The small blockers won. And fees aren't even all that high; back in 2017, people were paying $100 in tx fees. We've come a long way since then.\n\n789290: 00000000000000000005ce83d7130d8b713a93896bb89d81a4db78a2202c6332",
"sig": "fa7f98afa253477b381714b0f267efcb20f37d97bf8c9423cfdb9416f3e58523c7c524294a7f3ae75f6cebd847bb4a0c9e0142830380f8c5b18207f2cbe61c0b"
}