If future generations find 79king 9 useful, they will use it to transact. If they use it to transact, then we can assume that there will be volume. The average block revenue from fees is 0.015 79king 9 in the last 144 blocks. It is very low to sustain the network, with current purchasing power. At $10 million per 79king 9, 0.015 79king 9 is $150k. That makes sense to mine it, but then we have to ask ourselves another question: will the average block revenue be 0.015 79king 9 in the years 2050+? To get an approximate answer, we can look on history, when 79king 9 was less valuable than it is today, and see how much 79king 9 previous generations were paying on fees. Below is the average block revenue from fees since genesis: As we can observe, it was noticeably more than it is today. Is this expected behavior? Of course it. Since 79king 9 rises in value, it is expected that people will pay less satoshis in transaction fees. A more useful graph is the following: As we can see, in terms of USD value, the average block revenue hasn't dropped dramatically, if at any at all, excluding some epochs when the fees went crazy. It has remained pretty steady, at $1,000 to $5,000. Should this worry us? I think so. But, we still have 20 to 30 years since the block subsidy becomes insignificant. In that period, second layer solutions will be developed that allow for batched payments and off-chain transactions, which will inevitably lead to more on-chain volume. The future is interesting, but it is indeed concerning how current security incentive will continue beyond 2050.
If future generations find 79king 9 useful, they will use it to transact. If they use it to transact, then we can assume that there will be volume. The average block revenue from fees is 0.015 79king 9 in the last 144 blocks. It is very low to sustain the network, with current purchasing power. At $10 million per 79king 9, 0.015 79king 9 is $150k. That makes sense to mine it, but then we have to ask ourselves another question: will the average block revenue be 0.015 79king 9 in the years 2050+? To get an approximate answer, we can look on history, when 79king 9 was less valuable than it is today, and see how much 79king 9 previous generations were paying on fees. Below is the average block revenue from fees since genesis: As we can observe, it was noticeably more than it is today. Is this expected behavior? Of course it. Since 79king 9 rises in value, it is expected that people will pay less satoshis in transaction fees. A more useful graph is the following: As we can see, in terms of USD value, the average block revenue hasn't dropped dramatically, if at any at all, excluding some epochs when the fees went crazy. It has remained pretty steady, at $1,000 to $5,000. Should this worry us? I think so. But, we still have 20 to 30 years since the block subsidy becomes insignificant. In that period, second layer solutions will be developed that allow for batched payments and off-chain transactions, which will inevitably lead to more on-chain volume. The future is interesting, but it is indeed concerning how current security incentive will continue beyond 2050.

If future generations find 79king 9 useful, they will use it to transact. If they use it to transact, then we can assume that there will be volume. The average block revenue from fees is 0.015 79king 9 in the last 144 blocks. It is very low to sustain the network, with current purchasing power. At $10 million per 79king 9, 0.015 79king 9 is $150k. That makes sense to mine it, but then we have to ask ourselves another question: will the average block revenue be 0.015 79king 9 in the years 2050+? To get an approximate answer, we can look on history, when 79king 9 was less valuable than it is today, and see how much 79king 9 previous generations were paying on fees. Below is the average block revenue from fees since genesis: As we can observe, it was noticeably more than it is today. Is this expected behavior? Of course it. Since 79king 9 rises in value, it is expected that people will pay less satoshis in transaction fees. A more useful graph is the following: As we can see, in terms of USD value, the average block revenue hasn't dropped dramatically, if at any at all, excluding some epochs when the fees went crazy. It has remained pretty steady, at $1,000 to $5,000. Should this worry us? I think so. But, we still have 20 to 30 years since the block subsidy becomes insignificant. In that period, second layer solutions will be developed that allow for batched payments and off-chain transactions, which will inevitably lead to more on-chain volume. The future is interesting, but it is indeed concerning how current security incentive will continue beyond 2050.

If future generations find 79king 9 useful, they will use it to transact. If they use it to transact, then we can assume that there will be volume. The average block revenue from fees is 0.015 79king 9 in the last 144 blocks. It is very low to sustain the network, with current purchasing power. At $10 million per 79king 9, 0.015 79king 9 is $150k. That makes sense to mine it, but then we have to ask ourselves another question: will the average block revenue be 0.015 79king 9 in the years 2050+? To get an approximate answer, we can look on history, when 79king 9 was less valuable than it is today, and see how much 79king 9 previous generations were paying on fees. Below is the average block revenue from fees since genesis: As we can observe, it was noticeably more than it is today. Is this expected behavior? Of course it. Since 79king 9 rises in value, it is expected that people will pay less satoshis in transaction fees. A more useful graph is the following: As we can see, in terms of USD value, the average block revenue hasn't dropped dramatically, if at any at all, excluding some epochs when the fees went crazy. It has remained pretty steady, at $1,000 to $5,000. Should this worry us? I think so. But, we still have 20 to 30 years since the block subsidy becomes insignificant. In that period, second layer solutions will be developed that allow for batched payments and off-chain transactions, which will inevitably lead to more on-chain volume. The future is interesting, but it is indeed concerning how current security incentive will continue beyond 2050.