Mining rewards will be gone in a couple of years, then all that's left are fees to pay for mining - meaning, for securing the blockchain. Higher energy costs m

Mining rewards will be gone in a couple of years, then all that's left are fees to pay for mining - meaning, for securing the blockchain. Higher energy costs mean higher transaction fees, which mean a disincentive to transact, and vice versa. The end state of bitcoin is a hash rate which corresponds to how much people are willing to pay for transactions. It may be a lot lower than it is today.