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Listen "Can Bitcoin Survive Low Transaction Fees?"
Episode Synopsis
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Welcome back to The Mining Pod! Today, James McAvity, CEO of bitcoin miner Cormint, joins us to talk about a potential, looming existential crisis for Bitcoin: low transaction fee revenue. With transaction fees at only 2% of mining revenue, McAvity argues the current model is unsustainable as rewards halve every four years.
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**Notes:**
• Transaction fees: 1/50th of total block rewards
• 20GW mining capacity running 24/7 globally
• 70 basis points: current annual BTC issuance
• $30-50K: cost per gigawatt hour electricity
• 2036: block rewards drop to 8 basis points
• $20T: potential future Bitcoin market cap
Timestamps:
00:00 Start
02:32 Is mining cooked?
08:05 Interpreting Satoshi's Goals
13:17 Hot mess or solid roadmap?
20:46 Cleanspark
21:15 Fees in a money protocol
25:44 truested intermediaries
31:42 Monero attack
38:39 Longterm bearish on mining?
44:59 What to do?
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👉 Colorado Air Filter, Leaders In Mining HVAC Solutions!
Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact [email protected]
Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!
Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome back to The Mining Pod! Today, James McAvity, CEO of bitcoin miner Cormint, joins us to talk about a potential, looming existential crisis for Bitcoin: low transaction fee revenue. With transaction fees at only 2% of mining revenue, McAvity argues the current model is unsustainable as rewards halve every four years.
Subscribe to our newsletter!
**Notes:**
• Transaction fees: 1/50th of total block rewards
• 20GW mining capacity running 24/7 globally
• 70 basis points: current annual BTC issuance
• $30-50K: cost per gigawatt hour electricity
• 2036: block rewards drop to 8 basis points
• $20T: potential future Bitcoin market cap
Timestamps:
00:00 Start
02:32 Is mining cooked?
08:05 Interpreting Satoshi's Goals
13:17 Hot mess or solid roadmap?
20:46 Cleanspark
21:15 Fees in a money protocol
25:44 truested intermediaries
31:42 Monero attack
38:39 Longterm bearish on mining?
44:59 What to do?
👉CleanSpark, America's Bitcoin Miner!
CleanSpark (Nasdaq: CLSK), America's Bitcoin Miner!®, is a market-leading, pure play Bitcoin miner with a proven track record of success. They own a fully self-operated portfolio of mining facilities across the U.S. powered by globally competitive energy prices. CleanSpark sits at the intersection of Bitcoin, energy, operational excellence and capital stewardship to monetize low-cost, high reliability energy while securing the most important finite, global asset – Bitcoin.
👉 Luxor, Leaders In Bitcoin Mining and Compute Power!
Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS.
👉 Colorado Air Filter, Leaders In Mining HVAC Solutions!
Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact [email protected]
Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!
Learn more about your ad choices. Visit megaphone.fm/adchoices
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