Proof-of-Work Security with Bob Burnett (RC#11)

G’day Folks,

A few weeks back, I prepared a piece titled Securing the Bag, where I laid out my thoughts on Bitcoins proof-of-work security model, and how I expect it to play out long term. Everything from the declining security budget, to the risk of a nation state 51% attack.

Off the back of this, I had the great pleasure of talking through many these dynamics with Bob Burnett of Barefoot Mining. Bob has thought extremely deeply about the mining industry, and is someone who has a great respect for Bitcoin as a network, and its importance in the future.

Mining is one of the least understood sectors of the Bitcoin network, and is full of so much nuance, that it can take quite a lot of work to properly wrap your head around it. My hope is that this conversation will both help answer some of those questions, offer up ideas to ponder, and leave you with even more questions that pique your curiosity.

I thoroughly enjoyed this conversation, Bob was a great guest, and I have no doubt we will do this again.

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Thanks for watching,

James

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