I honestly don't think that the fees are high enough for BCH to survive the long haul. Once reward halving happens how are the fees going to be enough to pay the miners?
It's a market. The amount of miners doesn't need to always go up. If less miners, difficulty decreases, BCH/KWHr good down. It's self adjusting.
crazy so many people dont get this. it self adjusts.
As you know, there're some here who don't really understand concept of markets.🙂 I think you know who. I don't understand how you can be against free market & think bch could work.
So, after block reward is gone/less. If we had low usage, empty blocks, miners leaving bc unprofitable. Someone could step in and more cheaply attack the network?
do wonder though, if the network shrinks it will be less secure right? bc less money/computers are needed for a 51% attack? not that any 1 group has anything near enough hash power.
That is a concern. Maybe then their motivation would be to preserve the value of their holdings. Or they could raise min fee b/c it's not worth while to mine so low fees.
Underlying value of the coin makes fees worth more though, even if still only 1 sat/byte.
Once reward halving happens, BCH will have way more adoption capacity than BTC. BTC already hit its ceiling and with $1-$2 fees and no reward, 7tps is not that much (didnt do the math)
Full 1MB blocks with 7tps at $1 is $4200, at current prices it means that 2032 will be the time when fees (1$/1MB/7tps) will be 50% of the reward. But no on-chain growth potential.
Even with the current difficulty, $8400 is not much for the work you have to do to find a block. And difficulty surely will increase.. But I guess BTC price will increase a lot too.
If the price of Bitcoin dropped 90% it would just mean that only the 10% of miners that had the cheapest electricity would be able to mine profitably because the rest stopped mining.
Mining crypto will always be profitable for some, but not all, that try to mine it. Because the lower the price, the more people will stop mining decreasing relative difficulty.
one more time please! no need in big tips. Every tip is unspent tx, memo sort them and choose biggest, my bot consolidates and have a lot of inputs, so tx is bigger -> bigger tx fees
it seems I solved issue, but need more unspent tx to be sure. thx mate
good point about BCH growth potential. BTC capping itself.
We will probably get fewer miners, but we have a lot of time to gain more adoption and I think it will happen.
