73. Bitcoin and Time with Gigi
The Bitcoin Standard Podcast
00:00
Bitcoin - The Proof of Work Problem Solved
Bitcoin doesn't know about the energy. It's only by probabilistic nature that it knows about. But what Bitcoin does, it really adjusts only for time. So if more Bitcoin is mine, they're going to be faster. And then you have to adjust the difficulty. All it cares about is just adjusting the average that it takes to mind you block up or down to 10 minutes. That's all it cares about. The reason gold continued to be money through thousands of years is not because it solves the proof of stake problem or the proof of space problem or theProof of whatever shit going buzzword is going on these days. "It's such a beautifully engineered guardian nut," says
Transcript
Play full episode
