What happens to Bitcoin when block rewards are almost inexistent?

[Anonymous No.49355880]

How will the network secure itself? What incentive will there be for miners to stay?

[Anonymous No.49355901]

>>49355880
It will probably collapse. That's why Monero has tail emission.

[Anonymous No.49355905]

>>49355880
Transaction fees

[Anonymous No.49355961]

>>49355901
It's a possibility I guess. I suppose there will be block rewards from transaction fees. But will they be sufficient and how does this fit in the grand scheme of things? If Lightning aims to keep fees down, then how do miners make it lucrative? I think Bitcoin will find a way to adapt, but I'm not certain which way that will be.

[Anonymous No.49356246]

>>49355880
The scenario I see is transaction fees going through the roof. I'm not sure how high they could go. Transaction fees right now are about 3% of the block reward, so for them to meet the block reward they would have to be really high.

That's one option. Another would be BTC going PoS, this seems unlikely but who knows what will happen by then. 2140 is when all the BTC will be mined.

[Anonymous No.49356642]

>>49356246
It costs 1 sat to transact on Lightning, so I'm not too sure about fees going high. Maybe the initial fee to open a channel on the base layer, but once that's done it costs almost nothing to transact on LN. What do you think?

Yeah, I envisaged a move to PoS will cut miner expenses sufficiently for them to to continue block production and securing the network.

To be honest, PoW is perfect as a means to distribute a limited supply. But once the distribution is done, PoW sort of stops being useful and PoS should take over.

[Anonymous No.49356995]

>>49355905
What fees when there is no reason to do any transactions on a slow ass network and every maxi wants to just HODL as it is digital gold? The ponzi will eventually collapse