It doesn't solve the fundamental cost problem with Proof of Work:

- If people pay high effective tx fees, it's shit because, well, it's expensive.

- If people pay low effective tx fees (through lightning or block size increase or whatever) then, as soon as inflation ends, the money won't be enough to pay for a sufficient hash rate.

Writing to the block should be expensive. But there won't be a problem because it'll only be used to settle Lightning Network transactions very infrequently, and could be massive amounts... not for small transactions.

Sure, but that’s a scenario where the usage of bitcoin is high and the total amount of money on tax fees is small compared to the market cap of bitcoin.

This means hash rate will be low compared to the market cap, and the necessary capital for a double spend attack may be worth it.

Maybe it’s all less of an issue because bitcoin will develop a network of trust that can replace the block chain.

But then, why not go with something like Stellar right away.

What about BCH, where they're increased the block size so many smaller transaction fees can still build up to a large reward for miners?

PoW doesn't need inflation to end.

That's not what the parent said

Unfortunately, one cannot see the edit history of posts.

Sure that works, but AFAIK it's a far cry from the decentralization we were promised in the white paper.