True, but there's a decent case to be made that (1) transaction fees will have to increase (in general) as the block reward decreases, and (2) transaction fees

True, but there's a decent case to be made that (1) transaction fees will have to increase (in general) as the block reward decreases, and (2) transaction fees will have to increase (for these centralized services) if they want to eat the cost of fraud [1]. [1] https://freedom-to-tinker.com/blog/randomwalker/the-low-transaction-fee-argument-for-bitcoin-is-silly/ https://freedom-to-tinker.com/blog/randomwalker/the-low-tran...