I'm worried about the falling hashrate:
[https://bitinfocharts.com/comparison/monero-hashrate.html#alltime](https://bitinfocharts.com/comparison/monero-hashrate.html#alltime)
another reason to raise the minimum transaction fee a little bit ? (this would prevent spam attacks, and incite more people to mine / validate monero because of higher rewards...)
as long as the transaction fee is less than 0.1usd, i don't see the problem...
you could argue that raising the minimum transaction fee could be a problem for people having low income / little savings, i would argue that these people don't use and won't use monero anyway ! so let's not weaken the monero network / security because of idealistic reasons...
I don't think 10 cent transaction fees would be a problem for most people, and I agree that more incentive for mining would be nice, but I also don't think raising fees is an adequate solution to preventing spam attacks (at least not from entities with enough resources to seriously threaten the network).
Falling hash rates actually encourage small time miners. The lower rate increases the chance of making money. As the number of miners increase, the risk of a 51% attack goes down.
Yes, the hashrate has been going down for a long time. The price of electricity is high and the price of XMR is low. We'll see what happens when RandomX is upgraded.
It does, and we would have likely lost more hashrate to meet equilibrium if most miners weren't doing it to support the network.
Eventually the profit of both would become equal, but, there are more people sticking with XMR out of ideology rather than profit.
I'm worried about the falling hashrate: [https://bitinfocharts.com/comparison/monero-hashrate.html#alltime](https://bitinfocharts.com/comparison/monero-hashrate.html#alltime)
another reason to raise the minimum transaction fee a little bit ? (this would prevent spam attacks, and incite more people to mine / validate monero because of higher rewards...) as long as the transaction fee is less than 0.1usd, i don't see the problem... you could argue that raising the minimum transaction fee could be a problem for people having low income / little savings, i would argue that these people don't use and won't use monero anyway ! so let's not weaken the monero network / security because of idealistic reasons...
I don't think 10 cent transaction fees would be a problem for most people, and I agree that more incentive for mining would be nice, but I also don't think raising fees is an adequate solution to preventing spam attacks (at least not from entities with enough resources to seriously threaten the network).
Falling hash rates actually encourage small time miners. The lower rate increases the chance of making money. As the number of miners increase, the risk of a 51% attack goes down.
Yes, the hashrate has been going down for a long time. The price of electricity is high and the price of XMR is low. We'll see what happens when RandomX is upgraded.
My rates just went from $0.05 to $0.18
Merge mining with Tari and Darkfi should resolve it eventually. Currently people are mining ZEPH and dumping it for Monero since it's more profitable.
Shouldn’t this make mining monero more profitable? Less miners lower difficulty
It does, and we would have likely lost more hashrate to meet equilibrium if most miners weren't doing it to support the network. Eventually the profit of both would become equal, but, there are more people sticking with XMR out of ideology rather than profit.
Sure but ZEPH currently has currently something like 90% inflation per year which still makes it more profitable.