We Study Billionaires - The Investor’s Podcast Network BTC009: Bitcoin Engineering w/ Core Developer Jimmy Song (Bitcoin Podcast)
Jan 20, 2021
In this discussion, Jimmy Song, a core Bitcoin developer and author, dives into the intricate world of Bitcoin engineering. He sheds light on how updates are generated, tested, and the critical role of full node operators versus miners. The conversation delves into pressing topics like the risks of 51% attacks and the looming threat of quantum computing. Additionally, Jimmy shares insights on the innovative Taproot upgrade and its impact on privacy, along with the evolving landscape of Bitcoin mining and its future challenges.
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Jimmy's Bitcoin Journey
- Jimmy Song, a programmer since the late 90s, got interested in Bitcoin in 2011 when it hit $1.
- Intrigued by its scarcity, he later secured his Bitcoin from Mt. Gox, narrowly avoiding significant losses.
Bitcoin's Development Process
- Bitcoin Core's open-source contributions involve pull requests, reviews, and merging.
- This strict process, essential for financial security, allows forking and diverse software implementations.
Bitcoin's Update Adoption
- Bitcoin updates maintain backward compatibility, allowing users to choose when to upgrade.
- Upgrading offers benefits like SegWit's improved security and Lightning Network access.
