Author: Eric Voskuil 2022-07-20 14:35:52
Published on: 2022-07-20T14:35:52+00:00
In a recent discussion on the bitcoin-dev mailing list, a user named Peter raised a question about the business model of someone who mines with the intention to censor transactions when there's no block reward. While it is true that transaction fees provide censorship resistance, without the block reward, Bitcoin would cease to exist. The state's business model is to preserve the reward it obtains from its own money, which is why currency controls are common. The absence of a block reward would render Bitcoin moot, making the question about mining for censorship purposes irrelevant. This discussion sheds light on the importance of the block reward in the functioning of the Bitcoin network and highlights the role of transaction fees in providing censorship resistance. It also touches upon the state's control over currency and how it seeks to preserve its reward.
Updated on: 2023-06-15T22:27:56.502063+00:00