- This topic has 4 replies, 2 voices, and was last updated 3 months, 3 weeks ago by GinchAnon.
- Thursday, June 2nd, 2022 at 09:06 #294487TheChoosey1Participant
Currently the smallest transaction possible on the BTC network is 546 sats. This is called the dust limit.
Does this mean that when the block reward hits the dust limit that it’s the same as being zero? I strongly think this is the case without a hard fork.
If so, we should revise our models of when BTC hits its actual supply cap and what that cap will be.
A little math later, it turns out that halving 24 takes the block reward from 0.00000596 BTC (or 596 sats) down past the dust limit to 298 sats, which is effectively zero if it cannot be transferred.
This also means that the last 125,000 sats mined over the next and final 9 halvings won’t be spendable and should be excluded from the supply total. So the supply is 20,999,999.9985 BTC. (Basically 21 million)
The transaction fees will be the only miner revenue from that point on. But by halving 24 the world will have been weened off the block reward so much that a sudden drop to zero would barely be noticeable compared to the transaction fees.
Halving 24 is 20.5 halvings from now or 82 years.
Technically the last Satoshi will be mined in 2140. But in reality the last fraction of spendable BTC will be mined before the halving 24 in 2104. Some of us might still be alive by then. Save up. The 2104 bull run will be permanent.Thursday, June 2nd, 2022 at 09:12 #294491GinchAnon
Can you not add more to that wallet for it to become spendable? And I always assumed that the block reward and the mining fee payment goes to the same place, automatically providing for that?Thursday, June 2nd, 2022 at 09:19 #294488Amoci
I sent 18 sats the other day, soooooThursday, June 2nd, 2022 at 10:30 #294489BTCMachineElf
The mining reward gets bundled with the transaction fees. As long as the transaction fees are over the dust limit, the mining reward will be spendable.
I suppose that means that if the mempool is empty, miners will shut down.Thursday, June 2nd, 2022 at 10:30 #294490SomeBrokeChump
The 0.00000596 BTC block reward will be combined together with the transaction fees from all of the transactions included in the block and it will be received together as one single unspent transaction output. I will demonstrate this below by showing the coinbase transaction from the last solved block as an example.
The last block solved was block 738981 and it contained 0.125 BTC worth of transaction fees and a 6.25 BTC block reward. 121f0af4386c8b3f90b019be1278abea1f05594051b6d70989cad328e19e608d is the transaction ID for that 6.375 BTC coinbase transaction.
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