Proofofworkau on Nostr: Let's debunk the problem in the year 2140 when Bitcoin miners only have the ...
Let's debunk the problem in the year 2140 when Bitcoin miners only have the transaction fees as income.
1. By the year 2050, most of the Bitcoin mining will be on renewable cheap energy anyway.
2. Only the most efficient mining pools will continue.
3. Their maintenance cost / energy cost may be X amount of today.
4. Bitcoin would have engulfed 5-10% of the global asset value.
5. With today's price, that is $2.6 million per Bitcoin.
6. The current block as of this message had a total transaction fee of 0.056 Bitcoin.
7. 0.056 x $2.6mil = $148,235 which is almost as much as the current reward.
8. By the year 2140, Bitcoin will be the global money anyway and all transactions from government to government will use the Bitcoin network.
9. The global asset value wil be 900 quintillion because humans love printing money forever.
10. Bitcoin will be 5% of that anyway.
11. Bitcoin price will be $2.6 billion, then.
12. $2.6 billion by 0.056 Bitcoin saying the transaction amount per block does not change = $2.6 billion x 0.056 = $145,600,000 worth.
Bitcoin issue solved.
Keep stacking.
1. By the year 2050, most of the Bitcoin mining will be on renewable cheap energy anyway.
2. Only the most efficient mining pools will continue.
3. Their maintenance cost / energy cost may be X amount of today.
4. Bitcoin would have engulfed 5-10% of the global asset value.
5. With today's price, that is $2.6 million per Bitcoin.
6. The current block as of this message had a total transaction fee of 0.056 Bitcoin.
7. 0.056 x $2.6mil = $148,235 which is almost as much as the current reward.
8. By the year 2140, Bitcoin will be the global money anyway and all transactions from government to government will use the Bitcoin network.
9. The global asset value wil be 900 quintillion because humans love printing money forever.
10. Bitcoin will be 5% of that anyway.
11. Bitcoin price will be $2.6 billion, then.
12. $2.6 billion by 0.056 Bitcoin saying the transaction amount per block does not change = $2.6 billion x 0.056 = $145,600,000 worth.
Bitcoin issue solved.
Keep stacking.