Unchained: Big Ideas From The Worlds Of Blockchain And Cryptocurrency

Once the block reward diminishes greatly, can Bitcoin be secured only by transaction fees? On Unchained, Bitcoin writer Vijay Boyapati and Ethereum Foundation’s Justin Drake debate the merits of Bitcoin’s security model, which Drake says will largely rely on transaction fees as soon as within 20-30 years, not in 100+ years. Highlights: Justin’s and Vijay’s professional backgrounds why Justin thinks Bitcoin cannot survive solely on fees how Bitcoin is currently secured what makes Bitcoin’s security subjective rather than binary how much it would cost in dollars to 51% attack Bitcoin what the Bitcoin network could do in response to a 51% attack how to calculate Bitcoin’s security budget why Bitcoin's price can’t go exponential forever whether a “nuclear option” for Bitcoin miners could protect against a 51% attack why nation-states could be either pro or anti-Bitcoin why a Bitcoin Standard could be similar to the Gold Standard how Bitcoin will change going forward, and why Vijay thinks transaction