My TL;DR takeaway from Alden's post is this: the security of the Bitcoin network once it transitions from mining based rewards to fee based rewards is entirely dependent on adoption. If there is adoption, tx fees will be sufficiently high thereby securing the network.

Therefore: if you want to secure your future corn, focus on increasing adoption today. Such as smashing lightning on this post, or writing your own post, or supporting strike, or donating via BTC, or or or

From O

Correct. Looking at Mempool's Mining Dashboard right now, I see:

909 BTC revenue to miners, in the last 144 blocks. It didn't say the duration for 144 blocks, but for general purposes, let's use the target rate, of ~24 hours per 144 blocks (as 1 block is targeted to occur every ~10 minutes).

So that's about 1% of revenue coming from fees.

After 2024 halving, all else being equal, 9 BTC would be 2% of miner's revenue, but the revenue would be down 48% from pre-halving levels. If price doubles, then miners are seeing about the same revenue after that halving as today.

The problem might be, in my opinion, that with all the hashrate coming online from publicly traded and large industrial miners, that the hashrate gets too concentrated -- if the hashrate rises faster than the price, for a long period of time. 51% of the hashrate controlled by a small number of U.S. and Canadian corporations is as bad as when 60% of the hashrate (or whatever it was) existed in China. Maybe worse.

But as the ASIC hardware trends back towards commodity status, ... the hashrate share from big operators should drop, once again.