How Blocks Work and Miners' Role

In this episode of DemystifySci, we peer into the very separate roots of banking and blockchain finance to find what’s alive beneath the myth. Bitcoin guru and amateur mycologist, Brandon Quittem, joins us to trace the fall of old empires and the rise of a new code-born freedom. The conversation drifts between history and possibility, where gold becomes data and control slips through the fingers of the elite. What remains is a question: can money succeed without those who steer its value?

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00:00 Go!

00:04:26 The Genesis of Bitcoin and the Cipherpunks

00:08:54 The Fear of Government Control and Digital Currency

00:10:41 The Failure of Early Digital Currency Attempts

00:17:54 The Collapse of the Gold Standard

00:19:56 The Nature of Trust in Currency

00:20:54 Discussion of Properties of Money

00:25:31 Critique of Modern Monetary Theory (MMT)

00:29:52 The Risks of Unchecked Debt

00:33:31 Introduction of Bitcoin as a Solution

00:39:00 Understanding Bitcoin's Structure and Security

00:41:58 The Origin of Bitcoin Ideas

00:46:49 Understanding Blockchain and Mining

00:53:06 The Mechanics of Block Creation

00:58:04 The Finite Nature of Bitcoin Mining

01:01:57 Miners' Revenue Streams

01:03:05 Genesis of Bitcoin Mining

01:05:00 Competition Among Miners

01:07:08 Future Perspectives on Bitcoin

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