subsidy

Tech spec

Brief Description: The block rewards earned by Bitcoin miners.

subsidy quantifies the incentives miners receive for validating and adding blocks to the Bitcoin blockchain, encompassing block subsidies and transaction fees.

Metric variants

• _usd: subsidy denominated in USD.
• _btc: subsidy denominated in BTC.

Interpretation By analyzing the subsidy, observers can gauge the economic incentives driving miners to secure the network. An increasing subsidy suggests rising miner revenue, potentially attracting more mining power, which can enhance network security. Conversely, a declining subsidy might indicate reduced profitability for miners, prompting concerns about security and influencing miner-related market dynamics. It also provides insight into how halving events and transaction fee market dynamics are affecting miner revenue over time.

Advanced Explanation The subsidy represents the financial incentive for miners to maintain the Bitcoin network's operation. Initially, the block reward accounted for the bulk of this subsidy, but as the block rewards halve approximately every four years during events known as 'halvings', transaction fees become increasingly significant.

Aggregation logic: total sum per time period