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BTC193: The Financialization of Bitcoin Blockspace w/ Bob Burnett (Bitcoin Podcast)

10 snips
Jul 31, 2024
Guest
Bob Burnett
Bob Burnett, a Bitcoin mining and technology expert, dives into the often-misunderstood value of Bitcoin blockspace. He discusses how the future of mining is set to evolve, emphasizing the economic implications of blockspace scarcity. Bob highlights the strategic significance of blockspace for major corporations and explains how miners are transitioning from merely producing Bitcoin to offering blockspace services. The conversation also touches on the potential impacts of mining on financial services and energy markets.
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INSIGHT

Shifting Mining Landscape

  • Bitcoin miners are becoming more dependent on transaction fees as the block subsidy decreases.
  • This introduces volatility to miner revenue, changing the mining landscape.
INSIGHT

Future of Block Space Acquisition

  • Individuals and corporations transacting in Bitcoin might view fee volatility differently in the future.
  • They might seek to secure block space in advance through a forward marketplace, similar to commodity trading.
INSIGHT

Calendar-Based Block Space

  • Future block space derivatives will likely be tied to calendar dates, not block height, for accounting and deal-making purposes.
  • Quarter and year-end closures will become highly valuable block space periods.
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