This is episode 72 of You, Me, and BTC, the planet's most entertaining Bitcoin podcast!
Last week, we spoke about Mike Hearn's article, The Capacity Cliff. In that post, he explained that the Bitcoin network will soon max out and said that raising the block size limit is our only reasonable solution. He wrote a follow-up a few days later, so this week is part two of our discussion.
Some people argue that the free market will prevent Bitcoin from reaching maximum capacity. They say that as transactions start to take longer due to volume, the fees will increase and everything will balance out. Unfortunately, Mr. Hearn disagrees. Today, we'll talk about the technical and behavioral forces at work that might disturb that expected balance. And even if we did pull through a period of slow and risky transactions, Bitcoin could suffer from bad PR and might never recover.
Tune in for all that and tons more! Your hosts are Tim Baker, Daniel Brown, and John Stuart. Enjoy!
Leave a comment and tell us if you think Bitcoin's block size limit should stay at one megabyte!