If hashrate falls for other main chains, will we be brave enough to enforce higher fees?

If hashrate falls for other main chains, will we be brave enough to enforce higher fees?

 

If in low inflation future users refuse to voluntarily pay high fees and reward is too low and for some reason network computing power (A.K.A. hash rate) falls, can we then expect consensus would try to soft fork higher minimum fees?


  • Scenario:
    • Time: Undefined future (low inflation future).
      • Consequence 1: Reward is low.
  • Proposition 2: Users won’t voluntarily pay high fees.
  • Proposition 3: Price will stabilize eventually.
  • Proposition 4: Because (1), (2) and (3) the network computing power will fall.
    • Consequence 5: Alternative chains gain relative network power compared to Bitcoin.
  • Proposition 6: In an attempt to stop (5) bleeding, Core would try to soft fork higher minimum fees.



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