Transactions need fees

P2PoW · January 21, 2021

Why should miners include transactions when no one is paying meaningful fees? Why should miners carry users indefinitely? Bitcoin had more transactions and fees-in-reward back in 2012 (3 years in) than what BCH has today. You cannot rely on coin issuance and a hope of price appreciation to pay for security. Fees need to pay for some of (and eventually all) the security.

You can’t force miners to mine low-value transactions. Some BCH miners have already shown they will mine smaller blocks (soft cap). What would they do if they suspected orphan rates might hurt their bottom line? Miners will drop these transactions long before 32MB.

Satoshi said (in the white paper) - “the incentive can transition entirely to transaction fees and be completely inflation free.”. Yet.. the narrative is still $0.001 fee nonsense. People will pay for something worth paying for.

Coins with real activity have fees. Ask Ethereum.

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