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Bitcoin-like blockchains do not come without flaws when viewed from a transaction fee perspective. Fees may be too low to cover the losses incurred by mining pools, particularly when the block reward tends to zero. Letting users choose their own transaction fees might not be an optimal solution. Users shouldn’t be allowed to set their own fees privately, while all transactions are set up individually. Fees are set by users, miners, and the protocol itself, as we will see below. In the long run, Bitcoin might need high transaction fees in order to function properly and securely (Lavi et al.