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Proof of Work for Bitcoin
"I thoroughly believe in proof of work, but I also try to like challenge the idea," he says. "It shouldn't just be that the people that hold the most coins can just sit there and get fat, dumb and happy on transaction fees by literally doing nothing." If you're trying to move a hundred million dollars in equivalent Bitcoin units at this point in time, it's not clear how many are out there or where they'll end up being used.
Anil Patel talks about his new book, The Bitcoin Handbook. There are many different fields of study Bitcoin touches that it can be difficult for people to grasp all the complexity in harmonizing concepts that are happening on this protocol. In this interview, Anil went on an intellectual journey simplifying and stitching it all together.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
01:15 - What was Anil trying to accomplish with the book?
06:59 - Of all the mental models and paradoxes mentioned in the book, what does Anil find the most profound?
12:22 - What is Jevon's Paradox?
23:39 - Network Effects.
29:52 - Reflexivity and how it applies to Bitcoin.
32:56 - Why are the laws of Thermodynamics important?
38:25 - Gall's Law.
43:44 - What is the intransigent minority and why is it important
53:31 - What is something the Bitcoin community could do better?
57:50 - Anil's favorite books.
01:00:09 - Why is it hard to be a Bitcoiner?
BOOKS AND RESOURCES
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