Vlad on Nostr: In order to maintain its security, Bitcoin needs high transaction fees on the base ...
In order to maintain its security, Bitcoin needs high transaction fees on the base layer. Wait, what?!
As the mining reward gets reduced in half after every 210.000 blocks (~4 years), the miners need to get paid in order to afford sustaining their security service.
As outlined in the Bitcoin whitepaper and according to the inflation schedule to 21 million coins, mining will at one point get paid entirety by transaction fees.
Listen to the Bitcoin Takeover podcast on Spotify, Apple Podcasts and YouTube to learn more about how Bitcoin works 🎧
Subscribe and like this video to see daily informative shorts 🤩
#bitcoin #bitcoinpodcast #bitcointransaction #bitcoinfees #bitcointransactionfees #bitcoinsecurity #bitcointakeover #btctkvr #bitcointakeoverpodcast #podcast #21million
https://youtube.com/shorts/p-DVH7I81fs?feature=share
As the mining reward gets reduced in half after every 210.000 blocks (~4 years), the miners need to get paid in order to afford sustaining their security service.
As outlined in the Bitcoin whitepaper and according to the inflation schedule to 21 million coins, mining will at one point get paid entirety by transaction fees.
Listen to the Bitcoin Takeover podcast on Spotify, Apple Podcasts and YouTube to learn more about how Bitcoin works 🎧
Subscribe and like this video to see daily informative shorts 🤩
#bitcoin #bitcoinpodcast #bitcointransaction #bitcoinfees #bitcointransactionfees #bitcoinsecurity #bitcointakeover #btctkvr #bitcointakeoverpodcast #podcast #21million
https://youtube.com/shorts/p-DVH7I81fs?feature=share