The Bitcoin Way Podcast The Central Threat to Bitcoin with Knut Svanholm | Ep. #81
5 snips
Sep 12, 2025 
Knut Svanholm, a Bitcoin author and speaker known for his insights on Bitcoin economics, dives into critical risks facing Bitcoin. He tackles the tensions between the Knots and Core camps, advocating for self-custody and the importance of privacy in transactions. Svanholm discusses Bitcoin as a solution against fiat and charts a potential future where Bitcoin’s adoption reshapes economic structures. The conversation also challenges traditional notions of 'proof of work,' suggesting a shift to 'proof of results' in the evolving landscape of cryptocurrency.
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Mining Centralization Risks Security
- Miner centralization is Bitcoin's chief current threat and weakens the intended security model.
- Knut says miners must know their block templates and act with long-term incentives to protect Bitcoin.
Bitcoin Is Informational Ownership
- Bitcoin ownership is informational: possession is control of a secret, not legal title.
- Knut argues you cannot prove ownership and individual sats are indistinguishable inside the protocol.
Self-Custody And Run Your Node
- Do self-custody your coins and avoid KYC custodians if you value Bitcoin's properties.
- Learn privacy tools like coinjoin and run your own node to stay sovereign.
