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#244: The Quiet Master of Cryptocurrency -- Nick Szabo

The Tim Ferriss Show

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What Are the Misconceptions of Bit Coin?

A man is as loyal as his options might be. Once you have enough to gain or lose, incentives are everything. Bit coin designed for a second bit coin is brilliantly designed because of the underlying game theory and incentives. It would take 51 % of the computational power of the hash rate to attack this thing and do things like double spendBeasely changing that ledger. You can't change the ledger. But while that amber is being laid down, cand still be some mischief. And so those two things end up getting, especially the sophoor upgrades, get very politicized.

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