On: The Lightning Network: Turning Bitcoin into Money

[FabHK]

Fees have constituted just 1% to 2% of mining revenue over the last year (the other 99% being the mining reward ("coinbase") of 6.25 BTC per block).

So, LN does not reduce the incentive for Bitcoin miners in any meaningful way, unless I'm mistaken.

[sillysaurusx → FabHK]

That’s temporary. If you read the original white paper, satoshi designed bitcoin to be miner-free. “People will probably always be willing to verify transactions for free,” or something to that effect. The rewards will transition to that 1% fee as the entirety of their business model.

[ETH_start → FabHK]

The mining reward declines geometrically, with a halvening every four years.