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replied 2343d
Why would it be a high value transaction? Only possible with a fee market. No one will use Memo with high fees.
replied 2343d
Lol the existence of "fee markets" is a joke, fees disincentivize use. Transactions can be high value if they attract more use or attention to the blockchain
replied 2343d
While fees disincentivize use, they incentivize more proof-of-work being done (processing as well as hardening the network).
replied 2343d
Not at current levels, right now the block reward is the majority of the incentive for mining. Average miners don't see any of those fees after pool and network fees are deducted
replied 2343d
Oh, you are right. I tend to think way into the future.
replied 2343d
Yeah it's very valid if you're saying that tx fees will be critical in the distant future, but dropping the block reward is still a long way off
replied 2343d
Source: mining for 3 years. Excess network activity doesn't mean anything if there isn't actual adoption bringing price up with it, nobody mines BTC just for those