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0 sats \ 0 replies \ @notgeld 19 Dec 2022 \ on: On the Instability of Bitcoin Without the Block Reward bitcoin
Without a block reward, immediately after a block is found there is zero expected reward for mining but nonzero electricity cost, making it unprofitable for any miner to mine.
The paper doesn't take into consideration incoming unconfirmed transaction flow, which might be modeled via Queueing theory similarly how it was applied for LN channels economics here and originally here.
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