FYI - For Your Innovation Risks In Bitcoin: Supply Chain And Hardware Centralization
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Feb 20, 2025 
In this engaging discussion, Cathie Wood, CEO of ARK Invest, and crypto expert Lorenzo Valente explore the dichotomy of open-source vs. closed systems in innovation. Jose Rios shares insights on the supply chain bottlenecks affecting Bitcoin mining, and Robert Warren emphasizes the importance of industry standards. The group debates the integration of renewable energy in mining processes and the need for more sustainable practices, hinting at a potential Cambrian explosion in Bitcoin mining innovation on the horizon.
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Open Source Momentum
- Open-source AI models are improving faster than closed models, challenging the assumption that open source would decline.
- This suggests open source fosters more innovation and momentum, even in unexpected areas like China.
ARK's Bitcoin Genesis
- ARK Invest's interest in Bitcoin stemmed from a white paper co-authored with Art Laffer, who saw it as a solution to the closed gold window.
- Laffer believed Bitcoin's potential was as large as the US monetary base.
Centralization Risk
- Tariffs on Chinese electronics highlight the Bitcoin mining industry's centralized vulnerability.
- The dependence on one specific place for hardware creates a significant risk.