The Pomp Podcast
#1490 David Tse | How To Safely Get Yield On Your Bitcoin
Feb 20, 2025
David Tse, Co-founder of Babylon Protocol and a genomics expert, discusses the future of Bitcoin by introducing a third use case: secure staking. He explains Bitcoin's evolution as both a payment system and a store of value. The conversation delves into the trust in code versus traditional institutions and the mechanics of Bitcoin's staking process. Tse emphasizes the importance of user safety and innovative protocols, while exploring Bitcoin's role in the evolving financial landscape, including its potential integration within Web3.
31:19
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Quick takeaways
- Bitcoin serves primarily as a decentralized payment system and a store of value, but the introduction of staking presents a third use case that enhances its utility.
- The innovative self-custodial staking mechanism allows Bitcoin holders to secure other blockchains while maintaining control over their assets, promoting a trustless environment.
Deep dives
The Vision for Bitcoin's Expanding Use Cases
Bitcoin was originally intended as a decentralized payment system and a store of value, which are its two primary use cases. The introduction of a third use case, focusing on staking, seeks to leverage Bitcoin as a means of providing security to other blockchains. This innovative approach aims to fulfill Satoshi Nakamoto's vision of a system free from centralized trust, encouraging users to rely on code rather than institutions. By enabling Bitcoin holders to stake their assets in a secure manner, the project facilitates new opportunities within the blockchain ecosystem, enhancing Bitcoin's utility while maintaining its decentralized principles.
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