Challenges of Centralization in Bitcoin Mining

This chapter examines the issues surrounding Bitcoin mining centralization, focusing on the risks of diminished node participation and decentralization quality. It also discusses the potential rise of higher layer protocols, like the Lightning Network, while reflecting on the balance between idealism and practicality in Bitcoin's evolution.

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// OUTLINE //
0:00 - WiM Intro

1:25 - Helping Lightning Startups with In Wolf's Clothing

2:16 - What is Bitcoin Mining?

6:09 - Does Bitcoin Waste Energy?

15:48 - Bitcoin as an “Unriggable Game”

25:54 - Trust Minimization in Bitcoin

32:38 - The Art of Alpha Retreat