transaction fee's do not need to be a revenue stream for atleast 2 decades
On one hand, you're saying that Bitcoin is fine even with the rewards being 64 times lower (that is what it is roughly 20 years from now.).. and yet you also think that 75% of the hashrate can force people into accepting rule changes.
never said 75% of hashrate.. that was someone else..
i actually made a graphic saying 75% of peer consensus would be over 90% of hashrate (
in a different conversation)
and as for the rewards.. yep 20 years will still be valid to mine with only block rewards as the main income.
my point being that transaction fee's should not be abused right now or in the next couple years. its only going to be PART of miners main source of income in MANY years. at the moment it should remain as a non-essential 'bonus'
remember if the fiat price increases, that takes care of the bitcoin reward decrease. if miners dont like getting $10,000 for 10 minutes work, then they need to either stop selling coin to help raise the price (supply decrease), to get the price they want. or find another hobby and let the rest have a chance.
i know you know the numbers
over the next 4 years 12.5btc,
($10k total $800/coin)2020 6.25
($10k total $1600/coin)2024 3.125
($10k total $3200/coin)2028 1.5625
($10k total $6400/coin)(gap to take a breath and think about the numbers)thats 12 years for bitcoins fiat price to grow to $6,400 a coin($10k reward), more than enough time.
especially if you blockstreamers are trying to make bitcoin into a reserve currency (need i remind you that bitcoin was 100x less in value just 4 years ago, soo is indeed possible to grow just 15 times in 12 years)
2032 0.78125
($10k total $12,800/coin)2036 0.390625
($10k total $25,600/coin)
