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Podcast: Unchained
Episode: Can Bitcoin Be Secured Only by Transaction Fees? Two Researchers Sound Off
Description: 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 resp...