Yeah it's a really good point that additional security for the blockchain has low value. Really the total mining reward (txfees + subsidy) should adjust to offe

Yeah it's a really good point that additional security for the blockchain has low value. Really the total mining reward (txfees + subsidy) should adjust to offer just enough security. We now have the mechanisms in place to do something like that through DAOs, however it seems hopeless to apply that to Bitcoin, they are so resistant towards any change what so ever. It's wild that it took the bitcoin subsidy less than 2 decades to become far too high proportional to it's externalities.