> it's gone to miners. No, the base fee is burned (i.e, removed from the availab... | Hacker News

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		rglullis on May 2, 2022 \| parent \| context \| favorite \| on: Bored Ape virtual land sale breaks Ethereum > it's gone to miners. No, the base fee is burned (i.e, removed from the available supply). Since Ethereum's EIP-1155 (which changed the rules for pricing and mining rewards, miners only get to keep a "tip") Anyway, I'd also say that they were not wasted. Worst case scenario, these gigantic token burns reduce the supply and make all the token holders a bit richer.

can16358p on May 2, 2022 [–]

Oops, missed that, right.

Yeah, even though miners get only a part of the ether, it still valuates the currency when it's burned.

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