Podcasts: Bitcoin Mining 101 with Sam Wouters (WiM320) đź”— 48 weeks ago
- Category: Podcasts | The "What is Money?" Show
- Author(s): Sam Wouters, Robert Breedlove
- Published: 1st June 2023 17:00
Sam Wouters joins me to discuss Bitcoin mining, what ultimately secures the network, and the misconception about Bitcoin’s energy expenditure.Â
Sam Wouters is a research consultant and an international speaker. He is currently working as a Bitcoin research analyst at River Financial.Â
// GUEST //Â
Twitter: https://twitter.com/SDWoutersÂ
Website: https://samwouters.com/Â
Blog: https://blog.river.com/author/sam/
// SPONSORS //Â
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// OUTLINE //Â
00:00:00 - Coming upÂ
00:00:59 - IntroÂ
00:02:32 - Helping Lightning Startups with In Wolf's ClothingÂ
00:03:19 - Introducing Sam WoutersÂ
00:03:54 - Introduction to Bitcoin MiningÂ
00:05:18 - Bitcoin Miners: Who They Are and What They DoÂ
00:08:28 - The Bitcoin Mining Lottery SystemÂ
00:10:22 - The Misconception about Bitcoin's Energy ExpenditureÂ
00:14:08 - Understanding the Fixed Supply of BitcoinÂ
00:15:50 - Proof of Work vs. Proof of StakeÂ
00:19:11 - Monetization of Energy through Bitcoin MiningÂ
00:20:40 - The Importance of Bitcoin MiningÂ
00:24:37 - Secure Your Bitcoin Stash with the iCoin Hardware WalletÂ
00:25:34 - Maximize Your Profits with Gold Investment LetterÂ
00:26:30 - Take Control of Your Healthcare with CrowdHealthÂ
00:27:32 - Energy Expenditure Secures BitcoinÂ
00:30:37 - The Rational Answer to the Energy Expenditure QuestionÂ
00:33:29 - Energy Consumption is Integral to CivilizationÂ
00:34:57 - The Recent Hike in Bitcoin’s Global Hash RateÂ
00:40:41 - Increase in Hash Rate Represents the Resilience of BitcoinÂ
00:45:10 - Central Planners are Betting against the Individual's Self-InterestÂ
00:48:05 - Nation States on Bitcoin MiningÂ
00:52:03 - Bitcoin Mining Network is Immune to Government RestrictionsÂ
00:53:25 - A Bitcoin Wallet with Privacy Built-In: Wasabi WalletÂ
00:54:16 - Hold Bitcoin in the Most Secure Custody Model with CasaÂ
00:55:05 - What Ultimately Secures the NetworkÂ
00:58:20 - The Relation between Security Budget and Bitcoin's ScarcityÂ
01:00:07 - Where are We with Bitcoin Adoption Globally?Â
01:05:49 - The Future of Bitcoin AdoptionÂ
01:08:06 - The Right Approach to Orange-Pilling SomeoneÂ
01:11:29 - Pain is the Ultimate FactorÂ
01:13:24 - Where to find Sam on the Internet
// PODCAST //
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