Bitcoin - The First Block That Was Mined

From its inception, this was to be a counterbalance to the current financial system. Final settlement can be done in 10 minutes on base layer Bitcoin versus probably about 30 days or so in the base financial system that we have today. There's no way for somebody to game the system. It's a hard coded issue and schedule with no pre-mine,. meaning that he gave himself no advantage. He did acquire a lot of Bitcoins from mining, but that's because he was the only miner for the first six to eight months at least.

Transcript

Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app