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Driving up gas fees increases the number of miners who find it profitable to operate their rigs, no?
by floe 5y ago
Driving up gas fees increases the number of miners who find it profitable to operate their rigs, no?
- Tenoke 5y agoYes but less than before (since eip1559 part of the fee is burned instead) so the relationship is sublinear.
- floe 5y agoI see, that's interesting! I guess there's another causal chain, which is 'buying ETH to pay gas fees -> price of ETH goes up -> value of block reward to miners goes up -> more miners find it profitable to operate rigs'. I wonder how strong that effect is.