Question No Segwit Supporter will Answer
How will the OnChain Miners make Money, when almost all of the Transactions Occur OFFCHAIN on Lightening Network?
Answer:
You won't make enough money to stay a miner!
Segwit Supporters know this and don't care as long as they can make a Quick Buck at your expense.
How will the OnChain Miners make Money, when almost all of the Transactions Occur OFFCHAIN on Lightening Network?
Answer:
You won't make enough money to stay a miner!
Segwit Supporters know this and don't care as long as they can make a Quick Buck at your expense.
Hum, that's a strange statement. First of all, it would be a good thing that you won't make enough money to be a miner. Mining was supposed to be distributed, not a centralized business opportunity. Every node should mine a bit. But second, if mining is less profitable, normally, difficulty goes down. If difficulty goes down, the cost of mining goes down, and hence becomes more profitable, no ?
And if most income comes from transaction fees, there are in any case instabilities in the system, so it can be a good idea that this breaks down right away. In fact, there should be continuous tail emission in order to stabilise a PoW coin. And sound money doctrine is in any case flawed in the competitive crypto world.
I think you are missing my point ,
When block rewards are gone, and nothing but transactions fees are paying the onchain miners,
Yes, but that's a fundamental error in crypto currencies that stop block rewards. There's a known instability in that reward system. I think that iamnotback has already posted links to public research that demonstrates this. There's no reason to stop block rewards. It is an error in bitcoin, litecoin and others, because they stop block rewards to adhere to a principle (sound money doctrine) that doesn't make sense if the "sound money" doesn't have the market monopoly.
Quote
And we are all right back where we started, with Banks controlling all of the money.[/i] 
But that is in any case an unavoidable evolution, unless the money market keeps on inventing new crypto and old crypto dies off. Only this continuous turnover, with new coins coming in, and old ones suffering hyper inflation, can avoid "banking" and "centralisation". Every stable system will always evolve to a centralised banking-type system. Because of scaling laws.
