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On The Brink with Castle Island

Jan 31, 2022

Veteran Bitcoin commentator and inventor of Drivechains Paul Sztorc joins the show to talk Bitcoin's sustainability and the role of merged mined side chains. In this episode: 

  • Why Paul is the ‘Steely Dan’ of Bitcoin
  • Revisiting ‘Measuring decentralization’
  • Revisiting Paul’s argument on Proof of Stake being veiled PoW
  • Why you should roll your own statistics
  • Concentration of power in miners and mining pools
  • Is PoW worthless if it isn’t challenged?
  • How Bitcoin energy FUD is based on neo-malthusianism
  • The Julian Simon / Paul Ehrlich wager
  • Why none of our resources are finite
  • How climate change diplomacy is neo-colonial
  • Why and when innovation happens
  • Why Paul is a critic of Bitcoin development culture
  • Paul’s critique of Stock to Flow
  • Why Bitcoin culture is static
  • Why Bitcoin needs more satire
  • Bitcoin fees are 80-100x less than those of Ethereum
  • Why BTC fees are not sustainably high
  • Why Bitcoin fees and security budget need to grow over time
  • Can you just wait for more confirmations if security spend declines
  • Are fees destined to be effectively 0 through the creation of more blockspace?
  • The history of Drivechains /BIP300
  • Does merge mining make it more expensive to run a node? 
  • Do we know how to upgrade Bitcoin Core today?
  • The relevance of sidechains and merge mining to Bitcoin today
  • Was Satoshi into altcoins?
  • Would more sidechain development have inhibited the growth of Ethereum?
  • Does BIP300 solve the problem of the Bitcoin security budget?
  • Why you can’t reduce blockspace to increase security budget? 
  • Update on Drivechains

Content mentioned in this episode: 

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