Per the Bitcoin protocol, the block subsidy for miners is transitioning from
being predominantly reward-based to fee-based as the 21m cap is approached.
The block subsidy can be tho...
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Per the Bitcoin protocol, the block subsidy for miners is transitioning from
being predominantly reward-based to fee-based as the 21m cap is approached.
The block subsidy can be thought of as a "security budget" incurred by the
network to pay the miners for their work securing the network. A 100% feebased security budget is a problem because: