The "What is Money?" Show WiM056 - The Saylor Series | Episode 14 | Bitcoin’s Seven Layers of Security #1
Seven Layers of Security
- Bitcoin's proof-of-work security model has seven layers.
- These layers protect Bitcoin from disruption and ensure its longevity.
Bitcoin and Energy
- Bitcoin miners are the best customers for energy producers worldwide.
- They monetize stranded, intermittent, and remote energy sources.
Banks as Energy Stores
- Banks traditionally stored monetary energy (gold).
- Bitcoin encrypts electrical energy into monetary energy.
Michael Saylor joins me to discuss anthropology, energy, and technology from first principles as we build the intellectual foundation necessary to truly grasp the historic significance of Bitcoin.
Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/
GUEST
Michael's twitter: https://twitter.com/saylor
Michael's company: https://www.microstrategy.com/en
Michael's website: https://www.hope.com/
CHANNEL
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast...
Spotify: https://open.spotify.com/show/25LPvm8...
RSS Feed: https://feeds.simplecast.com/MLdpYXYI
Transcript:
OUTLINE
00:00:00 “What is Money?” Intro
00:00:05 NYDIG
00:01:23 The Seven Layers of Proof-of-Work Security
00:04:56 The Beauty of Proof-of-Work
00:05:27 The First Layer: Energy
00:09:58 Bitcoin Mining Impact on Global Energy Producers
00:14:22 A Future Convergence of Bitcoin Miners and Banks?
00:17:44 Bitcoin Recruits Energy Capital for Self-Defense
00:19:27 The Second Layer: Technology
00:20:40 Bitcoin Recruits Semiconductor Capital for Self-Defense
00:22:20 Rotating from Energy to Technology Intensive Security
00:27:45 Patterns of New Bitcoin Miner Deployment
00:28:50 Miner Hardware Cycles and Bitcoin Hash Rate
00:31:30 Game Theory of Entering the Bitcoin Mining Network
00:33:58 The Third Layer: Political
00:35:12 The Political Game Theory of Bitcoin Mining
00:37:08 Bitcoin Mining as a Political Lobbying Network
00:39:12 “100 Megawatts is Worth $300M per Year”
00:40:10 A Self-Distributing, Dynamic Mining Network
00:43:02 “The Market Generally Outsmarts the Smartest Person”
00:43:57 An Energetic, Technological, and Political Shock-Absorber
00:47:57 Robert’s Outro
SOCIAL
Breedlove Twitter: https://twitter.com/Breedlove22
WiM? Twitter: https://twitter.com/WhatisMoneyShow
LinkedIn: https://www.linkedin.com/in/breedlove22/
Instagram: https://www.instagram.com/breedlove_22/
TikTok: https://www.tiktok.com/@breedlove22?l...
All My Current Work: https://linktr.ee/breedlove22
WRITTEN WORK
Medium: https://breedlove22.medium.com/
Substack: https://breedlove22.substack.com/
WAYS TO CONTRIBUTE
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Sats via Strike: https://strike.me/breedlove22
Sats via Tippin.me: https://tippin.me/@Breedlove22
Dollars via Paypal: https://www.paypal.com/paypalme/RBree...
Dollars via Venmo: https://venmo.com/code?user_id=178435...
The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=328431...
RECOMMENDED BUSINESSES
Worldclass Bitcoin Financial Services: https://nydig.com/
Join Me At Bitcoin 2022 (10% off if paying with fiat, or discount code BREEDLOVE for Bitcoin): https://www.tixr.com/groups/bitcoinco...
Put your Bitcoin to work. Earn up to 12% interest back on Bitcoin with Tantra: https://bit.ly/3h3lL0j
IBAC assists central banks and sovereign wealth funds succeed in their digital asset investments: https://www.ibac.io/
Automatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/