Re: [bitcoin-dev] Security problems with relying on transaction fees for security

[Peter Todd <pete@petertodd.org>]

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On Tue, Jul 12, 2022 at 12:19:06AM +0200, James MacWhyte via bitcoin-dev wrote:
> I think many of these discussions about the loss of the mining reward are
> fatally shortsighted.
> 
> It's always daytime somewhere--when you talk about volume dropping at
> night, that simply means there is not enough activity outside the US. If
> Bitcoin continues its rise in price, mining rewards will still be
> substantial for decades to come. Given another 10 years, I'm fairly
> confident there will be enough adoption worldwide to make mining profitable
> around the clock, even if the mining reward were minimal.

Earth's population is extremely uneven over the earths surface, and the pacific
ocean is enormous and sparsely populated:

https://earthsky.org/earth/99-percent-worlds-population-receive-sunlight/

Anyway, designing protocols for "price go up forever" hopium is a bad idea.

-- 
https://petertodd.org 'peter'[:-1]@petertodd.org

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