BTC022: Dr. Adam Back & Bitcoin's Proof of Work

On today's show I talk with Dr. Adam Back. Adam is a Bitcoin core developer, inventor of Proof of Work, and CEO/founder of Blockstream. On the show we talk about his early developments and where he's taking Blockstream in the future.
IN THIS EPISODE, YOU’LL LEARN:
- How did Dr. Back discover Proof of Work (PoW)?
- Is Proof of Work a vital component of Bitcoin's price floor
- Blockstreams new initiative into mining
- Blockstreams new issuance of a debt note that pays Bitcoin coupons
- Using digital tokens on liquid for registry purposes for the note
- How mining can reduce volatility while still capturing significant upside
- Dr. Back's thoughts on the Bitcoin contango trade
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[@GrumpyOldGuy777]

This man deserves a national holiday. Thank you Sir.

[@wisunhi77]

Wow the legend Mr Adam Back what an honor for this show

[@theliftedbar4610]

🤟

[@wisunhi77]

Can somebody help me with this scammer?

[@benfranklinskite5975]

Dr. Back, thank you for my life.

[@davecurtis86]

Amazing episode!

[@mm-zw1zc]

Great talk. He's denied it in the past, but IMO there is just so much pointing to him being Satoshi. IMO this is mostly because there just are not a lot of people that can think like this on the game theory side then write code to achieve that understanding of the game theory. Plus, the timing fits, the writing fits, the background fits. So if you get him back, you need to ask him who Satoshi is, what projects he was working on at the time the whitepaper came out, and what his interactions with Satoshi were. See if he can put the rumors to bed.

[@coleyamamura]

no one cares who satoshi is

[@mapleloopsong]

Thanks Preston and thanks Adam!

[@jmack3019]

if Satoshi is alive, this guy is the most likely candidate. and even if he's not, i wish he was - as this is how i see the "real" Satoshi in my mind.

[@ra803g6]

You must be new here

[@jmack3019]

Maybe. But why do u ask? And i am not new to Bitcoin space.

[@thePontiacBandit]

Got about 8 guys I follow including one of my profs who I'm convinced are collectively Satoshi.

[@connerverret6443]

@@thePontiacBandit who are they? I’d love to follow them as well.

[@lezmckenzie3120]

Wow!

[@esky33junglelab61]

our brighter future. Dr Adam Back

[@theliftedbar4610]

🤘

[@BatmanBoss]

Adam is the best! 💛

[@mfcmartin]

excelent 👏🏻👏🏻👏🏻! thanks!

[@mfcmartin]

@Preston Pysh yes please!! jajajjaaaaa jaaaa

[@tuffinc825]

It would be interesting to hear his views on extended UTXO.

[@theliftedbar4610]

Can you point me to a discussion of it?

[@MrLeighman]

Adam Back is a Satoshi member, in a way. he was cited as a core contributor to Bitcoin and Bitcoin was a coming together of many technology's so Satoshi is a group not a single individual, really.

[@hunterterrell9930]

If satoshi nakamoto was a collective, Adam back was certainly a member

[@theliftedbar4610]

I can't wait until a similar Bitcoin mining token hits the US market.

[@HidingFromFate]

So even Adam Beck in this video seems to be advising only having 1% to 5% invested in Bitcoin or maybe he broadened that to all cryptocurrencies, I forget the exact statement. Regardless, I wonder what that suggests about his midterm to longer term projection for where this asset class or speculation class might go? To be that conservative suggests to me that he is not all that confident.

[@R-Waze]

Can someone explain to me why proof of stake is worst than proof of work with the most argumentative way. Thanks you. Feel free to share 👋🏼

[@MrLeighman]

With proof of work, you have to put work in to get rewards. This levels the playing field. basically anyone can participate in the rewards and this system incentivises decentralisation. With proof of stake, you get rewards based on the shares of that coin you have., this system is prone to centralisation and that's what we don't want because that makes the security bad and that is the system we already have in the form of central banking.

[@YungKingz__]

Proof of stake is basically the same as central banks... they have control of the monetary system & so they can do whatever they want like print more ethereum just like printing more dollars.

[@jrgb9945]

Buy. Hold. But better fucking buy or you will miss the future you could have had.

[@luisenrique6547]

So while Netflix goes down. Bitcoin climbs lol 😆 Now I say crypto is better than stock investing in crypto should be in every wise individuals to do list.

[@mschin008dw]

Omg 😱 spammers in most of these comments on this and other crypto pages

[@devinmccloud]

Craig Wright has gone out of his way to smear Adam Beck and claim he isn't Satoshi. That is proof for me that Adan Beck is Satoshi.