Tx fees make up a bigger and bigger fraction of miner rewards over time.
But transaction fees reset to zero on each block. If relying solely on transaction fees, why would you mine if they are zero? So, on the start of each block, miners will shutdown, or perhaps switch to a different currency where it would be profitable to mine. This surely weakens the security of Bitcoin.
transaction fees are not increasing though, so they can't offset miner rewards. they have been in the $100k-$200k per day range for a long time, with only occasional breakouts: https://www.blockchain.com/explorer/charts/transaction-fees-... and the trend is not to the upside. in fact with the arrival of ETFs in 2024 the trend is clearly downwards.
Rewards decrease due to halving and there is no guarantee that transaction fees will compensate it.
Rewards are also a permanent infinite money glitch that last in perpetuity? Or won't be changed in the future?
Is a store of value that requires a significant fraction of it be eaten up by transaction fees to maintain security going to be actually useful in the long term?