Average fees earned per block is somewhere in the region of 0.1 - 0.2 BTC at the moment. By the 9th halving, the block subsidy will be 0.09765625 BTC, which will mean it will be less than the average fees. This will happen around 2044, so only 20 years away. Another few halvings after that and the block subsidy will be ~10% of the total fees.
This opens up a new perspective in the discussion, which I had not thought of before now.
At the current block reward of 6.25
BTC, miners averagely earn $122k - $125. Using the current average rate of one Bitcoin. If you include the tx fee, that's an extra ~$3k.
For the reward of mining to remain commensurate with the current value (in USD), i.e, 0.15
BTC giving miners about the same amount they are earning now, which is ~$125k, then the value of 1 Bitcoin needs to rise to above $800k. That's a huge leap from the current price levels.
Would we likely be seeing $1 million to 1
BTC within the next 25-30 years?
OP, you just registered your account, don't you think tou need to engage some forum search in other to take survey on aspects like this related to your question maybe it had been talked about? If i were you, i will engage doing much of learning and research than talking just to build myself,
Firstly, not everyone is savvy in using the forum search option, or is aware of it.
Asking questions is also a form of learning and research, if the said user follows up on answers and discussions bordered around their questions.