Individual transaction fees are being heavily, heavily subsidized by block rewar... | Hacker News

Hacker Newsnew | past | comments | ask | show | jobs | submit

		ceallen on July 21, 2014 \| parent \| context \| favorite \| on: Bitcoin: the Stripe perspective Individual transaction fees are being heavily, heavily subsidized by block rewards currently. Just eyeballing the current numbers: ~400 transactions per block, 25 btc reward, ~500 usd / btc gives a transaction cost of 31 dollars each. What happens to fees when mining rewards taper off? Just authoritatively stating "it'll be fixed" blindly pushes these problems into the future.

natrius on July 21, 2014 | [–]

It'll be fixed. Or something will outcompete Bitcoin. That's what markets do. Blockchain technology has eliminated the barrier to entry to compete on transaction fees.

Natanael_L on July 21, 2014 | [–]

Transaction count will go up, and nothing says the value given to miners must stay the same. It is fine if some miners leave due to unprofitability.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact