Thank you Robin for the amazing lineup of guests. I've connected to many recent guests on a personal level - from born in El Salvador migrating to US since a child, to being Class of 2024, operating as a small business owner looking for solution to accept Bitcoin and mining at home. You've created a space that inspires and informs. Looking forward to many more! Mr. Bob Burnett made many fascinating points I had questioned myself as well. Although he speaks above my comprehension, I appreciate all the contributions he has provided with this episode. 🙏
I have to look more closely into how blocks are processed. I’m pretty ignorant on this aspect of BTC - thanks for this one Robin, great interview, and insight by your guest.
Bob discussing the monetization of hash power/block size control is important. Block space is very similar to container space on a container ship. Each ship has a scarce and unchanging amount of space onboard. Shippers can prioritize any container they want. Space is sold well ahead of vessel launch. Ongoing contracts. Prices mostly based on supply and demand dynamics.
@@RobinSeyr You should do a deep dive series into this since the actual accumulation phase is going stratospheric. Plant your flag here it's a worthwhile topic!
Interesting Premise put forth by your Guest 🤔...Let's Assume 3000 to 4000 Transactions per Block...what will be the minimum allowable individual transaction size 1,000,000, 2,000,000, 3,000,000 Sats ?
Centralized exchanges mitigate Bitcoin’s block space issues by handling most transactions off-chain, similar to the Lightning Network. While this reduces congestion, it comes with centralization and custodial risks. Long-term, scaling Bitcoin requires decentralized solutions like Lightning to preserve its core ethos. CEXs are convenient but not a full solution. For decentralized exchanges (DEXs), block size limitations and variable fees pose challenges. DEXs process trades on-chain, meaning they’re directly affected by network congestion and fee spikes. To scale, they’ll need to adopt Layer 2 solutions, batching, or alternative chains while preserving decentralization. High fees could limit smaller trades, pushing more activity off-chain or to centralized platforms.
Sounds like a huge problem the guest bring up, the bigger the network grows the more centralized it gets with the big players getting involved. The more censored the transactions will be. Eventually back on the old fiat system we go in that case. Everyone will need to have their btc with a custodian, or be on a second layer. What happens to the little guys that have self custody and cannot transact now because the fees are too high or he cannot be included in a block? His self custody btc then becomes worthless.
Such small transactions won’t be subject to targets luke this. Those attacks are too expensive. It’s like war. I also don’t think it will happen even on country level, but it is something to consider
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Thank you for joining us today, I'll be back tomorrow with another Episode🧡
Thank you Robin for the amazing lineup of guests. I've connected to many recent guests on a personal level - from born in El Salvador migrating to US since a child, to being Class of 2024, operating as a small business owner looking for solution to accept Bitcoin and mining at home. You've created a space that inspires and informs. Looking forward to many more!
Mr. Bob Burnett made many fascinating points I had questioned myself as well. Although he speaks above my comprehension, I appreciate all the contributions he has provided with this episode.
🙏
So glad you enjoy it - Many more to come everyday 💪🏻
Fascinating discussion. Thank you both.
Glad you enjoyed it!
I have to look more closely into how blocks are processed. I’m pretty ignorant on this aspect of BTC - thanks for this one Robin, great interview, and insight by your guest.
Glad it is helpful:)
I really appreciate this guest
glad you do!
Bob is a must listen. He brought up several items to think about today while I'm the studio. Thanks!
Yesss!
Bob discussing the monetization of hash power/block size control is important. Block space is very similar to container space on a container ship. Each ship has a scarce and unchanging amount of space onboard. Shippers can prioritize any container they want. Space is sold well ahead of vessel launch. Ongoing contracts. Prices mostly based on supply and demand dynamics.
Interesting! Whole new topic for this channel💪🏻
@@RobinSeyr You should do a deep dive series into this since the actual accumulation phase is going stratospheric. Plant your flag here it's a worthwhile topic!
Watching now.🎉
Enjoy
One of the top 5 most amazing public Bitcoin figures in my opinion. Thanks and congratulations Robinson
Couldn't agree more!
Greetings from Sunny Bradenton Florida 👍
Good Morning from Miami:)
Very good episode. I liked the idea of an evolving market around block space.
Yes!
Incredibly thought provoking and informative stuff. Thank you for this!
Glad you enjoyed it!
🔥
👍
Everyone should setup their own node and miner.
Yes!
Interesting Premise put forth by your Guest 🤔...Let's Assume 3000 to 4000 Transactions per Block...what will be the minimum allowable individual transaction size 1,000,000, 2,000,000, 3,000,000 Sats ?
I try to at least have 10M sats UTXOs, but 1-3M should also be fine
I luv "Boomers" that get it! They are pretty special people. They've seen a lot and that's important---wisdom can't be overrated.
They are amazing!
Centralized exchanges mitigate Bitcoin’s block space issues by handling most transactions off-chain, similar to the Lightning Network. While this reduces congestion, it comes with centralization and custodial risks. Long-term, scaling Bitcoin requires decentralized solutions like Lightning to preserve its core ethos. CEXs are convenient but not a full solution.
For decentralized exchanges (DEXs), block size limitations and variable fees pose challenges. DEXs process trades on-chain, meaning they’re directly affected by network congestion and fee spikes. To scale, they’ll need to adopt Layer 2 solutions, batching, or alternative chains while preserving decentralization. High fees could limit smaller trades, pushing more activity off-chain or to centralized platforms.
interesting!
One of the most ignored but important topics!
Yes & Bob does a great job explaining that
Sounds like a huge problem the guest bring up, the bigger the network grows the more centralized it gets with the big players getting involved. The more censored the transactions will be. Eventually back on the old fiat system we go in that case. Everyone will need to have their btc with a custodian, or be on a second layer. What happens to the little guys that have self custody and cannot transact now because the fees are too high or he cannot be included in a block? His self custody btc then becomes worthless.
If you don’t take care about your UTXOs, you might lose your BTC. Full responsibility, but also full power. That’s bitcoin
This Sounds centralised
It isn’t
Hmmmmmmmmmmmmmm
?
If a country cannot get his transaction through, how would an individual who owns 0.5 btc ? 😂😂😂😂😂
Such small transactions won’t be subject to targets luke this. Those attacks are too expensive. It’s like war.
I also don’t think it will happen even on country level, but it is something to consider
Disagree 100%. Owning BTC is owning block space. 😂
Not if you want to transact it. It's a whole new rabbit whole.
sounds like crap to me
Without miners running hash Bitcoin is useless
What is this BS?
Block Space? Block space on Bitcoin refers to the finite storage capacity within each block on the blockchain, used to record transactions