Oddbean new post about login | logout "Maybe in the lifetime of a typical person, they will do a handful of base layer interactions." -Bob Burnett, CEO of Barefoot Mining youtu.be/ta6zKS3ladM?si… In this episode we talk: - Full blocks & 300,000+ tx awaiting confirmation - Block scarcity and #Bitcoin fees - In the future will people be able to afford to hold their own keys? - Will there be another Blocksize War? Next time a Block *Time* War? - Bitcoin scaling through layer 2s like Lightning and Fedi
I ran into a spam impersonator of you and am really glad to have double checked. At first, I thought you were stearing clear of Nostr for whatever reason. Glad to have you!
- decentralize with #stratumv2 - miners use ai aglos w/ lower fees for smaller tx, higher for spam, fees will not be too high - modest medium term block size increase to grow into - different layers for different trust profiles scales at least as well as current banking https://cointelegraph.com/news/adam-back-bitcoin-block-size-increase-in-mid-term-is-possible
Listening now. Solid bit of gassing, love it. Accessible hour of technical conversation. Important. Cheers 🍻
This is a very important topic I think. It is difficult to give voice to these concerns without sounding like a Big Block supporter or something BUT I can’t understand how Bitcoin will handle a hyperbitcoinized world. People usually mention lightning but even that requires some amount of base layer transactions, other alternatives I can think like @saifedean mentioned in Bitcoin Standard. Banks might use it as a settlement layer but than all Bitcoin usage will be through custodians. It is something I still can’t full understand or see a way out but people seem pretty chilled with those stuff. Like I said I can understand the importance of independent Nodes for decentralization but it doesn’t make this Block sacristy a non-issue… 🤷🏻
Hi Nat Short note: Best show ever Long note: I recently heard about the limits of the Bitcoin network but didn’t understand it. Your show with Bob Burnett, CEO of Barefoot Mining, revealed (to me) the limit(s). With the ~2700 transactions per block (an average) and 1 block every 10 mims it was easy to get to the 140M transactions per year. This, of course, raises the urgency for building out, solidifying, layer 2 tech; lighting, liquid, fedi or other. Fascinating and fun times ahead. Love your show. Thanks!
Great podcast. I was not familiar with this guy. This one really left me thinking afterwards more than most podcasts.