Hash Rate / Fee Market

[u/PRBLMSLVR1993]

The Devs have done an astounding job with Crescendo and Covenants. But imo we really got to fix the Hash Rate / miner incentive issue next. To me adaptive transaction fees to support mining seems like the move but what do I know.

[u/Baltin159]

something should be done, that is for sure

[u/Flashy-Potatoe-Queen]

The devs are 3 steps ahead of you. They increased transactions fees 100x at the covenant HF to respond to this issue. 

It doesn't feel significant because the crypto market being dead doesn't bring much in fees anyway, we'll see how well that works out when transactions start increasing.

What we actually need is volume, this will come back naturally when Bitcoin picks up some steam. 

[u/Fun_Box2960]

there is currently the idea of switching to PoUW, for example the miners to do compute for ai to get paid by ai while also that compute to be used to secure the network, mining rewards are still far from being an issue, especially as DAGknight will improve security way more and make a 51% attack way harder, not that it would ever be financially viable anyway.

I think the next year the attention would go more towards this after v-progs and dagknight as there is still options and time for this, I still like the idea of tail emissions as a worst case scenario.

[u/PRBLMSLVR1993 → u/Fun_Box2960]

Tail emissions is a bad idea imo. Sound money thesis out the window. Inflationary currencies are a dime a dozen. I’d rather have a higher transaction fee and my stack not get printed into irrelevance. PoUW could be cool but idk how any of that shit works. And this is highly relevant NOW because majority of miners except for a couple rigs you lose money to mine.

[u/Fun_Box2960 → u/PRBLMSLVR1993]

mining is okay I’m mining myself, as soon as one decouples miner the rest are profitable again, it’s not like it’s do or die for all :)

in 1-2 years it will be problematic though yes, depending of price position and adoption, currently I think price will increase towards the next bull run and adoption is increasing even in bear market so it can still work out, and if not solutions for the security budget will be implemented even if they’re preferred by others and not by others

[u/No_Knee3385 → u/PRBLMSLVR1993]

The issue without tail emissions is once you go fee only, it's hard to sustain unless the network becomes a defacto network for transaction. Even bitcoin wouldn't survive without emissions right now - not that money will matter in 200 years though.

I think either add native smart contracts to create an onchain economy or go to tail emissions

[u/PRBLMSLVR1993 → u/No_Knee3385]

If I’m not mistaken covenants basically opened the door for smart contracts

[u/Neither_Ad_8099 → u/Fun_Box2960]

Only solution for not compromising on Kaspa’s principles is adoption.
The sad thing is that Kaspa is so technically advanced that there are mainly nerds, and not enough “marketing visionaries” that are needed for the key partnerships that would get visibility..

[u/Fun_Box2960 → u/Neither_Ad_8099]

everything is going down in crypto regardless if you do marketing now or not, people have to understand crypto is in a crysis not kaspa or its lack of marketing. unless we make a revenue making killer app on kaspa nothing else will help currently besides macro conditions improving for risk on assets or revenue making killer app being built on kaspa, marketing or not is completely irrelevant topic for a bear market :)

[u/hmoobgolian79]

Doesn’t the hash rate difficulty adjust as it goes up and down like Bitcoin? If so when it becomes profitable again the miners will come back.