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Currents 094: Matthew Pirkowski on Blockchain Consensus Mechanisms

The Jim Rutt Show

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The Emergence of Mechanisms in Nature

The US dollar and other nation state currencies are subject to changes that fundamentally change the nature of our economy, at least at the margin. Bitcoin has no ability to change the system itself, which is both a plus and a minus in the Bitcoin world. And I think we actually, we do see that kind of an asymmetry between proof of stake and proof of work mechanisms in the world. You'll also see a much higher failure rate in terms of, or death rate, in terms of these experiments that it's trying to run.

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