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Incentives, by now majority of us should understand why crypto is unique when placed up against traditional finance and governance systems, but if not, then here's a tell - incentives. 

Crypto is all about incentives, this is why majority by default expect to earn when they get involved in this space, of course, this most times affect their ability to want to offer any valuable service as a community member, but that doesn't exactly make their quest to earn bad, in fact, it shows that the system works.

### It's not a bribe, it's a reward

Some people may feel like incentives are a way of bribing people to do certain things but that isn't true, incentives are rewards for valuable work. Where has bribery ever had conditions that require other people to validate your work before you can get paid?

Where has bribery ever given everyone a chance to participate? Why is there a potential to run on loss? Well, that's because it isn't a bribe, because these are guaranteed payments with none of what is mentioned above but incentives are not guaranteed but are rewards based on two factors:

Your work
Others

So first, you determine if you'd qualify to receive incentives, then others have to key in as well, this is what happens with mining and also what happens with content creation to getting rewarded here on Hive.

Is this a sustainable model? 

Blockchain and crypto protocols are designed this way because we understand that people are bound to want to do evil, bound to be creative about where money is, so incentives are first designed to keep their pockets filled and then others are given the ability to vote for or against their pockets getting filled. 

A very sound value distribution structure because in itself it is fraud proof, depending on how widely distributed things like the governance token is and the consensus protocol too. 

You figure that this model is not only viable for the distribution of value, but for even writing laws. Too much nonsense has made its way into our systems that the majority are disadvantaged. With crypto's new governance protocols, a lot can be remodeled to give individuals more influence over the rules that get applied in reality. 

### Bitcoin mining, risk and reward, what does the future look like? 

I know a lot of people fear that fees will not be enough to incentivize miners to keep mining bitcoin, but is this true? In fact, what are the current fees like? 

It would interest you to know that in the last 144 blocks, the total bitcoin fees earned by miners is 1.8 billion sats, this is 18.8 BTC and that is at the current bitcoin price $552,214 so on average each 10 mins block earned $3,825. 

Question now is: is that worth it? 

Is earning almost 4k every 10 mins worth it? Of course I am aware of some mining stats that says that it costs on average $10k to mine 1 Bitcoin but we have to understand that this is something subject to the time being which means we are not only looking at bitcoin rewards by the cost of mining rigs, electricity bills and maintenance costs. 

One of the things that is a surety is that 18.8 bitcoins is more likely not going to be worth $552,214 at a time where block rewards are no more and institutions have scooped almost all the Bitcoin supplies and scarcity is at its peak, on average we are looking at bitcoin at minimum $500k each which brings the average block rewards to $65,278. 

In fact, these figures are bound to be higher as newer layer 2 solutions to bitcoin get created and higher transactions are being processed to be finalized on the chain.

I believe bitcoin fees will be just enough for miners considering that supply at this point will be quite limited and demand will potentially be high, fees are bound to skyrocket and miners thus still stay incentivized well enough to continue. 

All mining stats are gotten from https://timechainstats.com/ 


Posted Using [LeoFinance Alpha](https://leofinance.io/@badbitch/will-fees-be-enough-to-incentivize-bitcoin-mining-after-block-rewards-are-out-of-the-picture-heres-what-to-expect)