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Date: Mon, 11 Jul 2022 18:26:31 -0400
From: Peter Todd <pete@petertodd.org>
To: James MacWhyte <macwhyte@gmail.com>,
Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Message-ID: <Ysyjl5+tYl+k3iHD@petertodd.org>
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Subject: Re: [bitcoin-dev] Security problems with relying on transaction
fees for security
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On Tue, Jul 12, 2022 at 12:19:06AM +0200, James MacWhyte via bitcoin-dev wr=
ote:
> I think many of these discussions about the loss of the mining reward are
> fatally shortsighted.
>=20
> It's always daytime somewhere--when you talk about volume dropping at
> night, that simply means there is not enough activity outside the US. If
> Bitcoin continues its rise in price, mining rewards will still be
> substantial for decades to come. Given another 10 years, I'm fairly
> confident there will be enough adoption worldwide to make mining profitab=
le
> around the clock, even if the mining reward were minimal.
Earth's population is extremely uneven over the earths surface, and the pac=
ific
ocean is enormous and sparsely populated:
https://earthsky.org/earth/99-percent-worlds-population-receive-sunlight/
Anyway, designing protocols for "price go up forever" hopium is a bad idea.
--=20
https://petertodd.org 'peter'[:-1]@petertodd.org
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