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wasoxygen  ·  104 days ago  ·  link  ·    ·  parent  ·  post: How Bitcoin Ends

    6. Incentive

    By convention, the first transaction in a block is a special transaction that starts a new coin owned by the creator of the block. This adds an incentive for nodes to support the network, and provides a way to initially distribute coins into circulation, since there is no central authority to issue them. The steady addition of a constant of amount of new coins is analogous to gold miners expending resources to add gold to circulation. In our case, it is CPU time and electricity that is expended.

    The incentive can also be funded with transaction fees. If the output value of a transaction is less than its input value, the difference is a transaction fee that is added to the incentive value of the block containing the transaction. Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and be completely inflation free.

— Satoshi Nakamoto, Bitcoin: A Peer-to-Peer Electronic Cash System

Fees provided incentive to miners from the start. Bitcoin was not intended to run on good will. If users don’t find using the technology worth the cost, they can switch to alternatives.