随着减半事件和符文协议的推出，比特币费用飙升

Runes 协议推出后，比特币交易费用激增，引发了人们对其作为矿工收入来源的长期可持续性的质疑。尽管最初出现飙升，但此后费用有所下降，分析师仍不确定符文是否会产生可观的费用收入。专家认为，包括 NFT 和序数集合在内的各种数字资产可能会在未来为矿工收入做出贡献。 Grayscale 预测比特币的价值可能达到 10 万亿美元，从而导致网络流量和交易费用增加，成为挖矿的潜在收入来源。然而，实现可扩展性和广泛采用对于可持续的费用生成仍然至关重要。

Bitcoin Transaction Fees Surge, Halving Event and Runes Protocol Launch Drive Activity

比特币交易费用激增、减半事件和 Runes 协议启动推动活动

On April 20, 2024, Bitcoin transaction fees reached an unprecedented high, coinciding with the halving event and the launch of the Runes protocol. This sudden spike in fees has raised questions about the sustainability of this revenue stream for miners and signaled potential challenges in the network's scalability.

2024 年 4 月 20 日，比特币交易费用达到前所未有的高位，恰逢减半事件和 Runes 协议的推出。费用的突然飙升引发了人们对矿工收入来源可持续性的质疑，并预示着网络可扩展性方面的潜在挑战。

All-Time Peak and Subsequent Decline

历史最高点和随后的下降

According to data from YCharts, the average fee per transaction on the Bitcoin network reached an all-time high of $128.45 on April 20. However, this surge was short-lived, and fees subsequently declined sharply to a more reasonable $34.80 on April 21.

根据 YCharts 的数据，比特币网络每笔交易的平均费用在 4 月 20 日达到历史新高，达到 128.45 美元。不过，这种飙升是短暂的，费用随后在 4 月 21 日大幅下降至更为合理的 34.80 美元。

Runes Protocol Triggers Frenzy

符文协议引发疯狂

The initial surge in transaction fees was largely attributed to the release of the Runes protocol, a platform for creating tokens similar to Ethereum's ERC-20 tokens. The launch of Runes sparked a surge in user activity, as users rushed to create and trade rune-based meme coins. This sudden influx of transactions congested the network, leading to the skyrocketing of fees.

交易费用最初的飙升很大程度上归因于 Runes 协议的发布，该协议是一个用于创建类似于以太坊 ERC-20 代币的代币的平台。符文的推出引发了用户活动的激增，用户纷纷创建和交易基于符文的模因币。交易的突然涌入导致网络拥塞，导致费用飙升。

Surge in Total Transaction Fees

总交易费用激增

The Bitcoin network experienced a significant surge in total transaction fees, reflecting the increased activity on the network. According to YCharts, the fees spiked from $7.7 million on April 19 to a remarkable $81 million on April 20, driven by the halving event and the Runes launch. However, the fees subsequently decreased to $22.37 million on April 21, highlighting potential scalability challenges.

比特币网络的总交易费用大幅上涨，反映出网络活动的增加。据 YCharts 称，在减半事件和 Runes 发布的推动下，费用从 4 月 19 日的 770 万美元飙升至 4 月 20 日的 8100 万美元。然而，费用随后于 4 月 21 日降至 2237 万美元，凸显了潜在的可扩展性挑战。

Sustainability of Fees as a Revenue Source

费用作为收入来源的可持续性

While the Runes launch initially led to a surge in fees, it remains uncertain whether this represents a long-term, sustainable source of revenue for miners. Some initially anticipated that Runes would become a significant fee generator, but early signs suggest otherwise. For example, the floor prices for Runestone NFT items dropped nearly 50% within one day as of April 21, according to Magic Eden.

虽然符文的推出最初导致费用飙升，但仍不确定这是否代表矿工的长期、可持续的收入来源。一些人最初预计符文将成为重要的费用产生者，但早期迹象表明并非如此。例如，根据 Magic Eden 的数据，截至 4 月 21 日，符石 NFT 商品的底价在一天内下跌了近 50%。

Potential for Diversification

多元化的潜力

Despite the challenges with fee sustainability, the situation is not entirely unfavorable for cryptocurrency miners. Ordinal collections like Bitcoin Punks and NodeMonkes, which generate fees from transactions, have experienced price increases during the same timeframe. This suggests a potential future where various digital assets, not only traditional transactions, contribute to the revenue earned by miners.

尽管费用可持续性面临挑战，但情况对加密货币矿工来说并非完全不利。像 Bitcoin Punks 和 NodeMonkes 这样通过交易产生费用的有序集合在同一时间段内经历了价格上涨。这表明未来潜在的可能性是，各种数字资产（而不仅仅是传统交易）都会为矿工赚取收入做出贡献。

Grayscale's Predictions

灰度的预测

Despite the short-term challenges, industry experts believe that these events offer insights into the future economics of Bitcoin mining. Grayscale, the manager of the world's largest Bitcoin Trust (GBTC), predicts that if transaction charges stabilize at a higher rate than historically observed, the impact of future halvings on miner revenue will diminish.

尽管存在短期挑战，但行业专家认为这些事件为比特币挖矿的未来经济提供了见解。全球最大的比特币信托基金（GBTC）的管理人 Grayscale 预测，如果交易费用稳定在比历史观察到的更高的水平，未来减半对矿工收入的影响将会减弱。

Looking decades ahead, Grayscale forecasts that Bitcoin's total worth could inflate to $10 trillion, resulting in a surge in network traffic. In this scenario, transaction fees could become a significant income stream for miners. However, achieving such scalability and widespread adoption will require ongoing development efforts and innovative approaches to mitigate network congestion.

展望未来几十年，Grayscale 预测比特币的总价值可能会飙升至 10 万亿美元，从而导致网络流量激增。在这种情况下，交易费用可能成为矿工的重要收入来源。然而，实现这种可扩展性和广泛采用将需要持续的开发努力和创新方法来缓解网络拥塞。

"This is a glimpse into the future of Bitcoin mining economics, as Bitcoin becomes a $10 trillion+ asset, demand for the network grows exponentially, and we experience several more halvings," stated Grayscale.

Grayscale 表示：“这是对比特币挖矿经济未来的一瞥，随着比特币成为价值超过 10 万亿美元的资产，对网络的需求呈指数级增长，并且我们经历了多次减半。”

Conclusion

结论

The surge in Bitcoin transaction fees following the halving event and the launch of the Runes protocol has raised questions about the sustainability of this revenue stream for miners. While the Runes launch initially led to a frenzy of activity, its long-term impact on fees remains uncertain. However, the emergence of new digital assets, such as ordinal collections, suggests the potential for diversification in miner revenue streams. Industry experts believe that transaction fees could become a significant income source for miners in the long term, provided that scalability challenges can be addressed and widespread adoption continues.

减半事件和 Runes 协议推出后，比特币交易费用激增，引发了人们对矿工收入来源可持续性的质疑。虽然 Runes 的推出最初引发了狂热的活动，但其对费用的长期影响仍不确定。然而，新数字资产（例如序数集合）的出现表明了矿工收入来源多元化的潜力。行业专家认为，从长远来看，只要能够解决可扩展性挑战并继续广泛采用，交易费可能会成为矿工的重要收入来源。