Episode 14 Bitcoin

HODL TO THE MOON! Today's episode covers the groundbreaking and still misunderstood king of cryptos, Bitcoin! We start the show off talking about an article New York Times put out about the Younger Dryas Impact Hypothesis. All in all it seems to take the idea seriously, which is great! We introduce the topic of Bitcoin with a high level overview. We discuss the white paper and it's conception. But what good is Bitcoin? To answer that, we talk about the history of money and pros and cons of gold and paper fiat as money. We cover the Byzantine Generals Problem and how Bitcoin represents the first true solution to the problem in history. We follow along the steps of a Bitcoin transaction in order to explain how it works in detail and then talk about mining and how it works. The only known weakness to bitcoin is the 51% attack and we talk about how it could work and why it can probably never happen. Is Bitcoin bad for the environment? How can you buy bitcoin and keep it safe? What is a Bitcoin wallet? What is a Bitcoin halving event? We answer these questions and end the show talking about how gangster Satoshi Nakamoto is as well as how important Bitcoin is for the future of the world.

0:00:00 - Intro

0:02:31 - Younger Dryas Impact Article

0:06:05 - Bitcoin at a High Level

0:15:33 - The White Paper

0:19:51 - Historical Money and Gold's Strength

0:26:35 - Gold Has It's Own Problems

0:32:51 - Paper Money

0:43:35 - Music Break

0:45:40 - Bitcoin's Strengths

0:53:13 - The Weaknesses

0:57:26 - The Byzantine Generals Problem

1:02:30 - The Details of a Bitcoin Transaction

1:14:35 - Mining Rigs

1:20:57 - The Blockchain and 51% Attacks

1:25:32 - Bitcoin's Energy Use

1:32:19 - Music Break

1:35:12 - Self Custody & Deflation

1:44:47 - Halving Events, The Bitcoin Vision

1:51:56 - Wallet Types & Security

Link to guide on getting a wallet

1:58:12 - Bitcoin is Maturing and Changing Lives

2:07:04 - Satoshi is Gangster!

2:13:32 - Interesting Tidbits

2:20:04 - Outro