Oddbean new post about login | logout Theoretical question… What would it look like if you had a mining pool that had say 15% of global hashrate and didn’t have fees. Imagine for the sake of this argument that its hash power is funded by some deus ex machina foundation. What would that look like and would it change anything?
Nothing really changes. The incentives remain the same. The incentives are the block reward. You just eliminate some unwanted inflation and debasement. The reason for the long gradual reduction in block reward is to wean miners off of bitcoin's tit. Unneeded transaction fees significantly damage the Bitcoin protocol. Turning Bitcoin miners into titty babies at all OUR! expense..👍🧡😊