I've been seeing some talk lately about the need to fork bitcoin in the future and implement tail emissions, as though Bitcoin will fail without a block reward. This has never made sense to me, and I think such a fork would be a terrible idea.
Bitcoin doesn't have a "security budget." It's a protocol to provide probabilistic finality to reduce / eliminate the risk of a double spend. With no block reward, for any type of large transaction with an untrusted party, there is a strong incentive to provide "free" bitcoin to the miners of subsequent blocks, to ensure finality. This will be less necessary for small transactions, since the base level of transaction fees will likely be sufficient.
What are your thoughts on this? Obviously, we're still decades away before this will be a "problem," but I think it's important to address. These "tail emission" arguments need to put to rest.