Bitcoin’s security bill is paid by price, not by fees.
In September, fees were 87.53 BTC, about 0.63% of miner rewards. Roughly $7M for the month (my arithmetic).
So the miners securing a $1.65T network are mostly paid in newly issued coins, and those coins are only worth something if demand holds.
That’s not a flaw to panic about. It’s a dependency to understand.
The thing I’d watch: does the fee share rise as the subsidy shrinks?
If it doesn’t, security rests on the price.
#Bitcoin #CryptoFundamentals #BTC #ZeroHunter
$BTC $ETH
In September, fees were 87.53 BTC, about 0.63% of miner rewards. Roughly $7M for the month (my arithmetic).
So the miners securing a $1.65T network are mostly paid in newly issued coins, and those coins are only worth something if demand holds.
That’s not a flaw to panic about. It’s a dependency to understand.
The thing I’d watch: does the fee share rise as the subsidy shrinks?
If it doesn’t, security rests on the price.
#Bitcoin #CryptoFundamentals #BTC #ZeroHunter
$BTC $ETH