05-23 19:44 - 'If long term most transactions happen on Lightning Network, isn't that a huge risk to miner fees?' (self.Bitcoin) by /u/BasedInquiry removed from /r/Bitcoin within 11-21min
''' The important thing to understand about Lightning is that when all transactions happen off-chain, miners don't generate fee revenue. This undermines the security and sustainability of the network, which is all based in mining profits. With each halving event, miners become more and more dependent on transaction fees, until the subsidy is removed entirely and transaction fees is the ONLY income miners will generate. It's a ticking timebomb under Bitcoin - scale or die. Miners don't just secure the network out of the goodness of their hearts, it costs a lot of money in electricity. This is the paradox of a system like lightning - it is supposed to enhance Bitcoin by making traffic happen off chain, but instead it undermines all the economic incentives that make Bitcoin work to begin with. Could you tell me - why am I wrong? ''' If long term most transactions happen on Lightning Network, isn't that a huge risk to miner fees? Go1dfish undelete link unreddit undelete link Author: BasedInquiry
03-15 14:15 - 'No idea hey ummm. / Idea enough to know what centralised trash is and something that’s not secure, failing and serves no purpose long term as it’s fees will always end up higher than others because miners need reward...' by /u/CreepyCranfield6 removed from /r/Bitcoin within 23-33min
10-08 00:23 - 'That's about the only valid criticism of big blocks I can think of. / They could easily put a delay to where blocks will only be accepted once a majority of miners agree on the block. / You can either find a solution or...' by /u/juliushenkin removed from /r/Bitcoin within 116-126min
''' That's about the only valid criticism of big blocks I can think of. They could easily put a delay to where blocks will only be accepted once a majority of miners agree on the block. You can either find a solution or just give up on blockchain scalability forever (which is your philosophy) ''' Context Link Go1dfish undelete link unreddit undelete link Author: juliushenkin
10-08 00:23 - 'That's why Satoshi created the 10 minute confirmation time. It allows for all the miners to agree on the next block. Block orphaning is a non-issue with long confirmation times. / There are also new block propagation pro...' by /u/juliushenkin removed from /r/Bitcoin within 127-137min
''' That's why Satoshi created the 10 minute confirmation time. It allows for all the miners to agree on the next block. Block orphaning is a non-issue with long confirmation times. There are also new block propagation protocols like Avalanche that help with that non-issue. ''' Context Link Go1dfish undelete link unreddit undelete link Author: juliushenkin
Bitcoin miners suffered a 23% drop in revenue during June, resulting from lower network fees and a reduced block subsidy after the halving in May.. Down from $366 million in May, bitcoin miners ... Bitcoin Avoids “Miner-Death-Spiral” Despite Seeing a Sliding Hash Rate. by Cole Petersen. 3 months ago. in Bitcoin, Crypto. Reading Time: 2 min Bitcoin saw a 6% negative mining difficulty adjustment this week, which ensures that the cryptocurrency will continue mining blocks every ten minutes. Bitcoin miners enjoyed a 23% increase in revenue during August, driven by higher network fees from increased on-chain transaction volume as bitcoin (BTC) avoided a daily close below $11,000 throughout the entire month. Bitcoin miners suffered a 23% drop in revenue during June, resulting from lower network fees and a reduced block subsidy after the halving in May.. Down from $366 million in May, bitcoin miners generated an estimated $281 million in revenue in June, a three-month low according to Coin Metrics data analyzed by CoinDesk. Estimates assume miners sell bitcoins immediately. The payments for orders are accepted through the Bitcoin (“BTC”) payment network and other options such as wire transfer. In the event you choose to pay in BTC, the site will calculate and convert the USD value to BTC amount according to our chosen exchange rate (which is a weighted average from major Exchange sites around the world).
IS BITCOIN (BTC) MINING WORTH IT 2020?? -PROFITABLE?
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