A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
I've been reiterating some thoughts on Bitcoin in the future. When the block reward reduces to a point where miners need to profit from transaction fees, will this be enough incentive to keep operations running, considering the costs involved to maintain the current hash rate? 7tps is also a constraint on income. If we assume the above concern works out for the first layer functioning in standalone, the question regarding the LN arises: If the LN becomes the main layer for performing transactions in the future, won't this reduce the income for miners? I know node operators settle the difference in balance on the first layer, but how often will this theoretically happen? I apologise if this is a basic question already discussed, but I'm curious if someone has done some calculations before, or can refer me to a good resource discussing this topic. Thanks!
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Just released the beta for our Bitcoin game, TURBO 84, (technically a re-release - we did some bitcoin experiments with this game in the past). The concept is to collect 'tickets' for a daily prize draw to stack sats. Beta is available on Google Play. Here is a little teaser trailer for it
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How to mine $1,000,000 of Bitcoin using just a laptop ...
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