Video Transcript

so the Haring has occurred and as you can see miners Revenue per Peta has per day got cut in half but the Haring actually caused a spike in income for miners because of fees now what happened was the launch of a new protocol called runes which is a different way of storing different data in Bitcoin blocks because remember your transaction fee and the size of your transaction fee in Bitcoin is based on the data size how much data you’re putting on the blockchain instead of the size of the amount of Bitcoin you want to send it’s there’s no difference as to the size it’s all based on how much data you’re paying to store in the blocks now why is this important well because in the future of Bitcoin mining we’re going to see more dependence on transaction fees which are volatile than the subsidy which is guaranteed every single block this creates a more volatile fee environment as shown below