I have a controversial view.. (more than) enough mining will still happen even if there were no block reward AND no fees.
Why would somebody mine Bitcoin in that scenario? Because they hold Bitcoin.
I imagine the average investor would be willing to spend around 2% of their holdings a year to “protect” their investment, I.e. make sure the network is functional and immune to attack.
Which comes out to about the total amount spent now on mining (1.8% annual block reward =~ 1.8% spent on mining).
Why would somebody mine Bitcoin in that scenario? Because they hold Bitcoin.
I imagine the average investor would be willing to spend around 2% of their holdings a year to “protect” their investment, I.e. make sure the network is functional and immune to attack.
Which comes out to about the total amount spent now on mining (1.8% annual block reward =~ 1.8% spent on mining).