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Showing posts with the label Why there are miner fees now?

Why there are miner fees now?

Why there are miner fees now? I understand the mining fee will be the major incentive when the Bitcoin supply hit its limit of 21m. But right now, new coins are still being minted and are much higher than any fee can compansate. Shouldn't the fee calculation be a WIP improvement protocol that needs to be worked on in the Testnet rather than causing huge innefficeny in the Main Bitcoin network? I am very sorry if it is naive to think that, but I see that many debates on Bitcoin's future are based on the high amount of miner fees or the long waiting time for confirmations. Why shouldn't miners just add the transactions randomly and just incentivized by the reward? I believe the mainstream usage adoption will be provided by the people who can't afford the current miner fees, but still wish there could be a way to actually use the network at least in a fair way where the highest fee couldn't win the confirmation race. To sum up, I am wondering, why the fee structure...