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With both the Bitcoin Unlimited and Segregated Witness efforts far from reaching majority support and exploding transaction fees, the debate around how to scale Bitcoin continues on. One of the key arguments against bigger blocks and Bitcoin Unlimited is that a blocksize restriction is needed to create a healthy fee market. Dr Peter Rizun has been researching the economics of transaction fees in Bitcoin extensively and joined us to discuss what dynamics affect fees and why he thinks the blocksize limit will eventually fall.

Topics discussed in this episode:

Bitcoin seen through the eyes of a physicist

The dynamics that determine transaction fees in Bitcoin

How orphaning risks drive the fee market economics

The relationship between the block reward and the fee market

Why the blocksize limit will eventually fall

Why Peter supports Bitcoin Unlimited

The state of discussion between Bitcoin Core and Bitcoin Unlimited

Links mentioned in this episode:

Sponsors:

Jaxx: Wallets that Unify the Blockchain Experience Across Devices - http://jaxx.io

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Epicenter is hosted by Brian Fabian Crain, Sébastien Couture & Meher Roy.

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