Dear Readers,
One of the most common misconceptions about Bitcoin for many years has centered on whether the network can retain its momentum and its security as the block subsidy slowly vanishes. The blockchain currently rewards a “winning” miner with 6.25 Bitcoin every time a block is confirmed, which at today’s prices is nearly $175k, but that subsidy will gradually drop to zero over the next century.
Bitcoin supporters, myself included, are avid believers that the blockchain will continue to function just fine as the subsidy disappears, thanks to the growing value of transaction fees. However, critics are quick to question the feasibility of Bitcoin being financed solely via transaction fees on the basis of everyday people having no desire to pay exorbitant transaction fees.
