Re:Lightning Network Skepticism
by maaku on Saturday December 26, 2015 @12:15AM
(#10793359)
Running the Bitcoin mining network costs millions of dollars per day in electricity costs alone. Who's going to to pay that when the subsidy goes away?
[ Parent
| on HN ]
You are wrong about mining costs. Miners are estimated to consume 100-200 megawatt. Most of them pay below worldwide average electricity prices, being located in Iceland (KnC), WA state (BitFury), etc; maybe around $0.05/kWh. So the miners' daily costs would be $120 000 to $240 000.
The block reward only halves, it doesn't "go away". Unless you are talking about when it can't halve anymore because of the 8 decimals limit, which we could just remove, just like Satoshi wanted (same situation as with block size limit).
Re:Lightning Network Skepticism
by supermari0_ on Saturday December 26, 2015 @02:34AM
(#10793579)
If we keep the 21M limit, subsidy will be insignificat at one point.