Took a quick look at Bitcoin's security spend. In short, it's not looking good. "Fees will replace block rewards" is completely not the case so far.

What we instead see is diminishing security over time, surprisingly consistently. This makes Bitcoin vulnerable 🧵 (short) pic.twitter.com/D9ESjl5kKn

— Mira Hurley (@mira_hurley) April 19, 2023