Re:The problem with Bitcoin miners
by colinmhayes on Monday May 16, 2022 @03:15PM
(#31402020)
There is no cost to adding a transaction to your block if its size is uncapped. Once a miner completes a block why wouldn't they maximize the profit they can make on it?
shawabawa3 already explained it "There would be an equilibrium where the fee is worth the marginal cost of mining it"
The miner has cost X and wants profit Y. He adds those together and now the price is X+Y. Someone wants his transaction on the blockchain, he is going to pay X+Y unless there is a miner that offers an even lower rate.
You're making the assumption that the block reward is high enough to make transaction fees irrelevant, which is a trivial observation and not what we are interested in talking about here.