Bid coin holders want the 21 million coin supply cap to be respected. They don't want perpetual issuance as it would undermine security, says Bitcointalk founder Isir Naeem. The proposal is 'worth considering' in the long-term, he adds. But there's not even a guarantee that e, that the coin supply even increases at the bottom line.
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.