A government can then buy a bunch of cheap ASICs and destroy Bitcoin?
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Yes. Or you, or anyone else.
Plus governments can seize property within their jurisdictions. That danger you point out is always present regardless of miner compensation.
Yes, of course. But I see more likely that in the far future block fees will be worth more than the current fees + subsidy (just like the 50 BTC subsidy of 2011 was far less valuable than today's one of 6.25), not that they'll be worth $5.
What's your view of the issuance schedule, then? Do you see it as too harsh?
Andreas destroyed that argument in two minutes.