Bitcoin Fees and UTXO Set

After a long hiatus, we return to talk with new Chaincode member Murch and get his take on enterprise wallets and UTXO management.

In this conversation, we cover:

- Enterprise UTXO management (3:35)

- The impact of the 2017 hype cycle (4:30)

- The importance of UTXO set minimization (5:30)

- The fee market today (6:44)

- Batching Transactions (9:15)
 - Payment Batching

- Consolidations (11:05)
 - Consolidation of 4 Million UTXOs at Xapo

- Change splitting (14:10)

- Replace By Fee (16:04)
 - RBF in the wild
 - Fee bumping

- SegWit (21:10)

- How enterprises estimate fees (25:00)

- Omnibus wallets (28:05)

- Off-chain sending (31:50)

- Taproot (33:57)

Other resources:

- Bitcoin Optech Field Report: How segwit and batching could have saved half a billion dollars in fees

Thanks as always to Matthew Zipkin for the sound engineering.