Gebührenanteil an Miner-Einnahmen

Fee revenue ÷ total miner revenue. It tracks the question on which Bitcoin's long-term survival hinges: as the block subsidy decays to zero on schedule, how far has the fee market come in taking over? In quiet markets the ratio typically runs below 5%, rising to around 15% during bull-market congestion; only extreme events push it higher.

December 2017: block 500,521 became the first where fees exceeded the subsidy (instantaneously >50%). May 2023: the inscription frenzy pushed per-block fees above the 6.25 BTC subsidy for the first time since 2017. April 20, 2024: halving block 840,000 set extreme records amid the Runes land-grab, with fee shares in surrounding blocks briefly exceeding 75% of block revenue. Three different drivers — bull-market crunch, inscriptions, protocol launches — high readings do not require a bull market.

With the subsidy halving every four years, the denominator shrinks structurally, so the ratio should ratchet upward cycle by cycle. In practice, outside spike events it has lingered low — and has visibly receded since 2025. That is the factual core of the "security budget" debate: optimists expect block-space demand to grow with adoption; skeptics note current fees fall far short of independently funding security once the subsidy fades. This chart is that debate's scoreboard.

Beyond network data, see the broader market via total crypto market cap and BTC liquidations.