Future fees of legacy addresses

[jademaxsuy]

Op you should not problem the future regarding with future fees of legacy addresses.

Why? there could be more legacy addresses that will be added and having different forms of segwits to which it could be lower fees than the current legacy addresses. For now, I advised that you should ask your friends, relatives, and family to use the same segwit as to what you have now so that you can save transaction fees in the future of transferring bitcoin from one wallet to another wallet.

[chenille]

Are you forgetting miners did mine even when bitcoin had zero value.

Don't miner gets reward too? Transaction fee is not the only reward. Not everyone but the successful miner gets block reward too. At the beginning, who mined bitcoin was out of interest on peer to peer currency or they could have guessed the current price then.

Right, miners are getting block rewards (currently 12.5 BTC) plus the transaction fees of all tx included in the block. BTC.com gives a very good overview, where you can see block raward + tx fees: https://btc.com/block



Most miners are mining in different pools and the rewards are redirected to the successful pool of each block.

[Artemis3]

So my question is the following :
If I load some legacy addresses (paper wallet for example or vanity addresses ) with some low amount of crypto ( $50 to $100).
(They are going to be birthday presents for family members in 5 to 10 years).

When they will want to redeem the coins to a segwit or LN compatible wallet, what kind of fees are we expecting?
Can we expect tx fees to always stay in the $0.1 to $3 forever or are they going to follow BTC price and become (in USD) astronomically high?

Transaction fee is picked by you, not the other way around. A wallet might suggest a fee based on current network traffic, so that you won't have to wait too long, but that is up to you.

You can ignore the wallet suggestion and force it use the lowest fee, currently 1sat/B. Such thing would do if you don't mind waiting hours or days depending, for the transaction to complete.

If you are going to make the paper wallets yourself, there is no reason not to make them segwit already. In fact you should make them native segwit.

Also do not try to see it in USD, because the price of bitcoin might be different in a few years. a few ¢ today maybe a couple of $ tomorrow.


LN I'm not sure what the situation would be...

[Thirdspace]

Are you forgetting miners did mine even when bitcoin had zero value.

Don't miner gets reward too? Transaction fee is not the only reward. Not everyone but the successful miner gets block reward too. At the beginning, who mined bitcoin was out of interest on peer to peer currency or they could have guessed the current price then.

Right, miners are getting block rewards (currently 12.5 BTC) plus the transaction fees of all tx included in the block. BTC.com gives a very good overview, where you can see block raward + tx fees: https://btc.com/block

when bitcoin had (near) zero value, miners need minimal efforts and equipments to mine too
so I agree with both of you, transaction fee is not the main reward for miners now or then
^[1] mining process is adding/confirming new transaction records to blockchain and introducing new coins to the system
since the beginning miners are doing it for obtaining new coins and at the same time protecting network integrity
they aim for block rewards, and transaction fees are just added incentives for them
they can, if they want to, create a new block without including new transactions except its own coinbase transaction
[1] Mining https://en.bitcoin.it/wiki/Mining