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A comment on Are You Trading or Gambling?. Parent comment

Re:Are You Trading or Gambling? by tharkun__ on Saturday February 27, 2021 @04:31PM (#26288362)
The fees are already exorbitant and make no sense if you wanted to use Bitcoin for everyday transactions. You still see merchants that have something like a 2$ minimum for credit card transactions, which charge a percentage fee usually.

Looking at https://ycharts.com/indicators/bitcoin_average_transaction_f... the average Bitcoin fee seems to be somewhere around $22 right now. Just think of the dialog occurring once miners have to make all their money from fees only:

"Yes sir, I would like to buy this chewing gum for my son. Yes I know it costs $0.50. Yes I know it will cost me the equivalent fee of $50 to buy it using Bitcoin. Now sell it to me already!".

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Re:Are You Trading or Gambling? by albntomat0 on Saturday February 27, 2021 @04:37PM (#26288406)
True. Bitcoin as currently designed doesn't support the transaction throughput or latency anyways for folks to buy gum, only larger money transfers. (I'm a skeptic, FWIW)

Without the presence of transaction fees though, things would fall apart once the block reward ran out, as asked in the original question.

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