Comment Comment by aback This reflects a misunderstanding of the drivers of mining costs.Mining only costs a lot because coin value is high and the block reward is high. This means miners are willing to spend more to win the reward.As the block reward lowers then mining becomes funded entirely by equilibrium-priced fees. parent aback 11 years ago
Mining only costs a lot because coin value is high and the block reward is high. This means miners are willing to spend more to win the reward.
As the block reward lowers then mining becomes funded entirely by equilibrium-priced fees.