Because we all assume demand for block space will increase significantly as Bitcoin adoption grows and all of these space-saving activities can only go so far. We also need there to be higher fees to incentivize mining when the block subsidy is gone.
Because of lightning? However, I think that onchain transactions must become pretty expensive if we want to keep the hashrate high which requires mining to be lucrative which will be harder and harder with each halving
because there is less demand than there is block space available.
why is there less demand than available space?
chart of volume https://blockchair.com/bitcoin/charts/transaction-volume
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You may also be interested in the Open Source Stage: Mempools talk.
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Very cool thread. Anyone know why the author says "the current near-zero fee environment won't last forever" ?
Because we all assume demand for block space will increase significantly as Bitcoin adoption grows and all of these space-saving activities can only go so far. We also need there to be higher fees to incentivize mining when the block subsidy is gone.
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Because of lightning? However, I think that onchain transactions must become pretty expensive if we want to keep the hashrate high which requires mining to be lucrative which will be harder and harder with each halving
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