The Bitcoin Layer

Teaching Bitcoin Part 2: Hashing & Mining

Sep 20, 2024
Guest
Michael Howell
In a fascinating discussion, legendary financial researcher Michael Howell delves into the intricate world of bitcoin. He learns about hashing algorithms and the importance of cryptography in securing transactions. The duo uses a forest analogy to illustrate bitcoin's mining process, where each tree symbolizes a bitcoin. Howell also explores the concept of the Triffin dilemma and how bitcoin could merge characteristics of commodity-backed and credit-based currencies. Their conversation lays essential groundwork for understanding bitcoin's blockchain mechanics and security.
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Episode notes
1
Intro
00:00 • 3min
2
Understanding Cryptography's Role in Bitcoin Security
02:50 • 5min
3
Understanding Bitcoin Through an Engaging Forest Analogy
08:15 • 3min
4
Understanding Hashing in Bitcoin
11:42 • 9min
5
Foundations of Bitcoin Security
20:39 • 20min
6
Exploring the Triffin Dilemma and Bitcoin
41:01 • 8min
7
Understanding Bitcoin's Genesis and Mining Mechanics
48:44 • 21min