teachin_bitcoin on Nostr: ...

Dad: Son, I am worried about Bitcoin's security model in the long run. What if the block reward is too small?
Son: Don't be, Dad! Not so long ago, transactions were free, then they cost just a few cents, now they cost dollars.
Over time, transaction fees are replacing the block subsidy and remember that block space is scarce.
That's why transactors will likely pay higher fees to get any block space and their transaction confirmed.The fee market is a free market.
Dad: Just like the land prices that are skyrocketing?
Son: Bitcoin's block height, the exchange rate [price] and the transaction fees will go up over time.


#Bitcoin