Bitcoin mining and the intricate game theory that surround it is a topic that we’ve visited many times. Difficult to grasp in its complexity, it is these dynamics that determine the security of Bitcoin in the short and in the longer term. This time we were joined by none other than Dave Hudson. He is the author of the leading mining blog hashingit.com, VP of Software at PeerNova and had a long career in chip manufacturing including at Qualcomm. We talked about dynamics in the mining market, security issues with Bitcoin’s design and his data-informed views on the blocksize debate. Topics covered in this episode: How he became interested in mining and what metrics he finds most interesting How miners would be affected by a blocksize increase The flaws in Satoshi’s design of the reward scheme Why transaction fees will not make up for the block reward decrease in 2016 and why that will lessen the security of Bitcoin The long-term role of Bitcoin as a settlement network The problem with accepting 0-conf transactions The future of mining and why 21 Inc’s plans seem nonsensical Episode links: Dave's Personal Blog Waiting for blocks The Myth of the Megabyte Bitcoin Block The Future of Transactions Fees Bitcoin SF Devs Seminar: A deep dive into understanding Bitcoin mining hashrates Dave's company PeerNova This episode is hosted by Brian Fabian Crain and Sébastien Couture. Show notes and listening options: epicenter.tv/090

In this episode, we revisited the perennial topic of digital currency regulation with Siân Jones, our regulatory correspondent and founder of the regulation-focused virtual currency consultancy COINSULT. With the final version of the BitLicense, what may turn out to be the most influential document for digital currency regulation, is now out. Besides diving into many different aspects of the onerous BitLicense, we talked about California’s coming rules, how Bitcoin startups will be affected and the implications of Ripple’s fine. NOTE: Since the episode was recorded the advocate general at the EU Court of Justice recommended that Bitcoin be exempt from VAT. Topics covered in this episode: A brief primer on BitLicense and the process by which it emerged What the key aspects of BitLicense are and how they changed through the revisions Why BitLicense will stifle innovation by dramatically increasing the cost and bureaucratic burden of running a digital currency startups How different companies are responding to the rules Why California’s virtual currency draft bill got a lot of things right What Ripple got fined for and why FinCEN could go after most cryptocurrency startups for the same reasons The status of the European Court of Justice case on VAT Episode links: NY BitLicense rules and regulations California's virtual currency draft bill FinCEN fines Ripple Labs Inc. What Ripple's FinCEN fine means for the digital currency industry Canada Senate digital currency report ECJ official proposes Bitcoin VAT exemption Siân's company COINSULT This episode is hosted by Brian Fabian Crain and Sébastien Couture. Show notes and listening options: epicenter.tv/088