Author: Angel Leon 2015-08-17 16:52:03
Published on: 2015-08-17T16:52:03+00:00
The email thread discusses the proposal of a long-term solution to replace mining rewards and transaction fees. The proposal, known as BIP [104], is only a discussion draft at this time. The thread also raises the question of whether increasing block size would allow for more transactions per block, resulting in more fees being collected and costs being spread out among many more users, ultimately keeping transaction fees low. However, there is concern that by increasing block sizes, transaction fees may not be available to supplement mining revenue for those who do not have access to cheap or free power to mine. Additionally, it is suggested that bigger block sizes could be needed to supplement the losses of coinbase rewards being halved. Overall, the proposal and concerns surrounding block size highlight ongoing discussions about the future of Bitcoin's economic model.
Updated on: 2023-06-10T20:11:02.756456+00:00