In this podcast I internalized the lesson that the energy cost of proof of work is a feature necessary to tie real world value to a digital asset. I have heard the argument before. But now I understand why and I have a better understanding of how it works and why it is needed.
ETH, now we realize that to make ETH relevant, we now have scarcity. Unfortunately, since we can change the rules several times. We can change it several more times. That’s problematic. In three halving’s, let’s talk volatility. Gold has been around thousands of years. I can wait 12 years, can you? Once value is established, I can transfer it to whatever app I choose.
Why not skip the mining and expand on the "gift" of a diminishing supply through carelessness? Seems like a waste of energy when the transaction fees could be burnt thus decreasing the total supply benefiting the holders in the same fashion.
My first SSI check I’ll sell 1/40th each year. Thus leaving a legacy behind. 1/40th is very little now. At 100,000, nice, at 1 million, I wouldn’t be spending all of it.
The self reinforcing loop sounds a lot like the greater fool theory. Is it incorrect to see bitcoins only value as its scarcity? Isn't that why everyone else is buying it?
I don't really like the comparison BTC-ETH. Ethereum is at least 50x more complex than Bitcoin. In order to move the project forward you need a certain centralized decision making - at least at this point in time. He also mentioned, that dApps have already failed. This statement is premature to say the least. Let's talk again in 10 years. There will be a smart contract platform which has changed the world. Whether this is going to be Ethereum or something else has to be seen. Great Podacst anyway, Peter! Enjoy them a lot.
Peter, keep doing what you do man. Love the episode!
Excellent episode. One of my favorites
Elegantly beautiful interview
Sergio denis
Great interview
You can't lose dipping in both ETH and BTC. 50/50 portfolio holdings. GREAT PODCAST!
Thank you
In this podcast I internalized the lesson that the energy cost of proof of work is a feature necessary to tie real world value to a digital asset. I have heard the argument before. But now I understand why and I have a better understanding of how it works and why it is needed.
ETH, now we realize that to make ETH relevant, we now have scarcity. Unfortunately, since we can change the rules several times. We can change it several more times. That’s problematic. In three halving’s, let’s talk volatility. Gold has been around thousands of years. I can wait 12 years, can you?
Once value is established, I can transfer it to whatever app I choose.
41:06 kinda implies he believes that Hal Finey was Satoshi...
A very important interview
Watch inherited money, it rarely stays in the family tree.
Why not skip the mining and expand on the "gift" of a diminishing supply through carelessness? Seems like a waste of energy when the transaction fees could be burnt thus decreasing the total supply benefiting the holders in the same fashion.
My first SSI check I’ll sell 1/40th each year. Thus leaving a legacy behind.
1/40th is very little now. At 100,000, nice, at 1 million, I wouldn’t be spending all of it.
The self reinforcing loop sounds a lot like the greater fool theory. Is it incorrect to see bitcoins only value as its scarcity? Isn't that why everyone else is buying it?
Greater fool is the guy who didn't buy bitcoin ;)
It's a shame Dan had to drag race in to it ... 15:20
exactly 'white guys' do not even control the banks. OMG I'm so sick of this derangement syndrome.
I don't really like the comparison BTC-ETH. Ethereum is at least 50x more complex than Bitcoin. In order to move the project forward you need a certain centralized decision making - at least at this point in time. He also mentioned, that dApps have already failed. This statement is premature to say the least. Let's talk again in 10 years. There will be a smart contract platform which has changed the world. Whether this is going to be Ethereum or something else has to be seen.
Great Podacst anyway, Peter! Enjoy them a lot.
Beginners guide to Bitcoin = BTC is not bitcoin.
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