ASICBOOST Covertly Exploits Bitcoin Mining, Litecoin Embraces SegWit, & More – YMB Podcast E169

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This is episode 169 of You, Me, and BTC – your liberty and Bitcoin podcast!

To kick things off today, we’ll dive into a discussion about a Bitcoin mining method called ASICBOOST. The concept makes Bitcoin miners as much as 30% more efficient, which could generate an estimated $100 million in additional annual revenue for a large mining operation. Efficiency is usually a good thing, but ASICBOOST comes with extra baggage that has been causing drama in the Bitcoin space.

First of all, the idea is patented. That might sound absurd, but it’s true. So tonight we’ll chat about what it means for Bitcoin. Would miners really respect this kind of patent?

But ASICBOOST gets even more interesting when it comes to Segregated Witness because the two technologies are not compatible. Some have theorized, then, that certain miners have been so hesitant to adopt SegWit because they are covertly profiting from this exploit. How likely is that? Is this why Roger Ver hates SegWit?

Then later in the show, we’ll cover some more positive SegWit news. While Bitcoin struggles to get miners on board with the improvement, the majority of Litecoin miners already support it, meaning it could kick in for the altcoin at any time. Is this good? What will happen when it starts?

We’ll have the scoop and endless opinions while we’re live tonight. Check the list below for some of the specific stories we’ll cover!

Your hosts are Daniel Brown and Tim Baker. Don’t forget to scroll down so you can keep up with our open tweet lines, vote in this week’s Bitcoin poll, and share your thoughts in the comments!

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