Bidquin is the way it is right now, and it's like extremely afte change. They see this constraint as even larger rit so there are a lot of people who wish that bidcin would have been invented differently. But it's very, very hard to change anything major and bidcon after the fact. So i'm more interested in proposals that, like, the more realistic it is to be implemented,. The more interested i am personally in it. Am ouknow, how how how controversial do you think your current view on bit coin works? We'll let you know when we find out.
In this episode, Su and Hasu talk about blockspace market mechanisms and EIP-1559. Read Hasu's analysis of EIP-1559 (w/ Georgios Konstantopoulos)
Topics covered:
- what EIP-1559 is and the problems it solves
- negative-sum vs zero-sum vs positive-sum proposals
- reasons against EIP-1559
- what, if anything, can Bitcoin learn from EIP-1559
- impact on long-term security
- how realistic perpetual issuance is in Bitcoin
- elastic blocksize proposals in Bitcoin
- lessons from the scaling debate
- how parasitic L2s can threaten baselayer security
- how dApps benefit from EIP-1559
- building dApps on appchains vs Ethereum
- why every chain incl. Ethereum specializes over time
- first-price auction vs fixed-price sale
- EIP-1559 as an oracle for on-chain congestion
- moving the Overton window for changes to Bitcoin
Su Zhu is the CEO and CIO of Three Arrows Capital.
Hasu is a cryptocurrency researcher and writer.
Together, they publish on Deribit Insights and uncommoncore.co.