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17min chapter
#503: The Bitcoin Stack with Dhruv Bansal,Ryan Gentry & Allen Farrington
TFTC: A Bitcoin Podcast
Decoding Bitcoin Layers and Incentives
The chapter delves into the layers of Bitcoin, emphasizing the importance of incentive systems for its success and scalability. It discusses layer zero and layer one in Bitcoin, breaking down complex problems into market-driven sub-problems. The conversation explores Bitcoin mining as a market-making process and explains the significance of the difficulty adjustment mechanism in regulating the rate of Bitcoin release.
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