We Study Billionaires - The Investor’s Podcast Network

BTC140: Game Theory and Bitcoin w/ Scott Lindberg (Bitcoin Podcast)

Jul 26, 2023

01:10:40

Highlights

AI Chapters

Episode notes

How to Compete With Open Networks

03:40

Game Theory and Bitcoin Adoption

01:18

Recognizing the Significance of Bitcoin and Its Implications for Human Flourishing

01:26

How to Make a Bitcoin Game

01:49

Introduction

3min

The Complexity of Game Theory

3min

Lightning and the Internet: A Comparison

4min

How to Compete With Open Networks

4min

The Infinite Game by Simon Sennick

2min

The Infinite Mindset of Money

4min

How to Choose a Bitcoin Partner You Can Trust

5min

Netsuite

1min

Netsuite

1min

10.

Netsuite. That's Netsuite

4min

11.

Netsuite. That's Netsuite

2min

12.

Decentralized Proof of Work and Transaction Fees

24sec

13.

How to Crack a Game

2min

14.

The Importance of Understanding the Timeline

3min

15.

The Importance of Proof of Work

2min

16.

The Importance of Understanding Moore's Law

2min

17.

How to Make a Bitcoin Game

2min

18.

The Importance of Playing Games With Your Kids

5min

19.

How to Play Bitcoin Safely

6min

20.

How to Design a Game That Ends at 45 Minutes

2min

21.

The Evolution of Chess

5min

22.

The Difficulty Adjustment in Bitcoin

2min

23.

The Variance and Volatility of Bitcoin

2min

24.

The Free Market and the Unbanked

2min

25.

The Importance of Educating the World

2min

26.

The Characteristics of Games by Richard Garfield

2min

27.

The Power of Games

2min

28.

How to Be a Successful Bitcoin Investor

2min

One of the most important topics in Bitcoin is this idea of game theory and the mutually reinforcing incentives to keep the entire network balanced and beneficial to all participants. Preston Pysh and Scott Lindberg cover all sorts of interesting ideas around Bitcoin’s overall game theory on today's episode.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

02:30 - An overview of Game Theory.

12:53 - The critical difference between infinite and finite games.

23:21 - What Satoshi had to consider when designing Bitcoin from the start.

38:04 - What are some of Scott's favorite game theory aspects found in Bitcoin?

42:51 - How Scott designed a playable game around Bitcoin.

46:27 - The iteration process for designing games that are playable and balanced.

56:19 - How game designers account for skilled players playing a game with unskilled players.

01:03:28 - What Volatility does to a games design.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Hodl-Up Game.
Scott's Company: Free Market Kids.
Scott's book that accompanies the Hodl-up Game.
Scott's Twitter.
Scott's Nostr.
Scott's Book Recommendation: The Infinite Game.
Preston's Book Recommendation: The Characteristic of Games.

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