Explore a conference talk examining the potential instability of Bitcoin's economic model once block rewards diminish. Delve into key findings from Princeton University researchers on the long-term sustainability of the cryptocurrency system. Learn about the importance of block rewards, mining strategies, and potential future problems in Bitcoin's structure. Gain insights into the Lambert Function, forking, and the broader implications for blockchain technology. Understand the critical role of transaction fees in maintaining network security and the potential consequences of their fluctuation. Engage with thought-provoking questions about Bitcoin's future and analyze visual representations of the researchers' findings through stack plots.
On the Instability of Bitcoin Without the Block Reward
Association for Computing Machinery (ACM) via YouTube
Overview
Syllabus
Introduction
Technical difficulties
Longterm stability
Key results
The bigger picture
Why is this important
Advanced warning against future problems
Block Reward
Multiple Miners
Mining
Model
Strategy Change
First Strategy
Implementation
Lambert Function Forking
Results
Lessons
Questions
Stack Plot
Taught by
ACM CCS
