Assuming we are in 2072 where blocked rewards 0.0007629 BTC per every 10 minutes. And Halving BTC mined in cycle 160.2172 BTC
How can mining be commercially profitable in this situation seems very difficult to me.
Assuming that mining power consumption, electricity costs, and maintenance costs will be lower in a tech-driven economy, what will be the condition of the BTC market if BTC mining blocked mined cycle approach zero?
As i said earlier,
difficulty adjustment will make mining remain profitable where only miner with efficient ASIC and low operational can survive. For example,
if all other variable remain same (same Bitcoin price, ASIC type, etc.), the difficulty will be adjusted to only 1/2^13 of current difficulty.
In addition Satoshi design that halving in hopes that in due time adoption is already proliferated that the tx fee can give more than enough reward to miners. Aside from technological advancement, difficulty adjustment, I believe
adoption is the key factor for the Bitcoin economy to survive, after all the market relies on supply and demand.
Assuming that the block mined is nearly zero and Bitcoin demand keeps coming in, it only means that the supply is already near to exhaustion, and with the proliferating demand, there is only one way for BTC market and that is to uptrend.
The increase in difficulty and halving of reward can be offset by adoption and technological advancement. In a case where supply is already exhausted but the demand keeps on piling up, this will make Bitcoin more valuable and expensive that can compensate to the halving of the block reward.
And if the reward isn't enough that makes miner discouraged to continue, Bitcoin developer had addressed that problem by difficulty adjustment depending on the hash power solving the block, the only problem is the last block to mine before the difficulty adjustment kicked in but after it will be a breeze for miners. I do not think the difficulty adjustment is created for the profitability of miners but instead to secure that the network will continue to flow regardless of the hash power being pointed to the network.