If BTC price falls 50%, and hashing difficulty stays the same, will transaction fees rise by 50%?
Or will it be up to the miners to reduce fees and absorb part of the decline in profitability?
Moore's law predicts that computational power can not maintain the pace of Bitcoin hashing rise in difficulty, and Moore's law's pace itself is unsustainable.
What will happen when Bitcoin mining becomes uneconomical due to energetic considerations?
@fersher - interesting post and I think the answer contains many variables. I cannot imagine miners wanting to reduce fees!!
I have answered your question regarding EOS on our latest episode of Crypto Nights - be sure to check it out.
Alex
!originalworks
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
For more information, Click Here!
To enter this post into the daily RESTEEM contest, upvote this comment! The user with the most upvotes on their @OriginalWorks comment will win!Special thanks to @reggaemuffin for being a supporter! Vote him as a witness to help make Steemit a better place!
This post has received a 9.68 % upvote from @upgoater thanks to: @fersher.
Congratulations @fersher! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP