Adam Back on Bitcoin's History, Satoshi, Blockstream, Solar Mining and More - Live from Miami

Adam Back is the co-founder and CEO of Blockstream. The world-renowned cryptographer invented Hashcash in 1997, which eventually served as the foundation for Bitcoin mining. His work is referenced in Satoshi Nakamoto’s original Bitcoin white paper.
You can follow Adam on Twitter at / adam3us
Coin Stories is powered by BITCOIN 2023, which will be the BIGGEST BITCOIN EVENT IN HISTORY held May 18-20 in Miami Beach. If you missed Bitcoin 2022, make sure to head to ‪@BitcoinMagazine‬ to find videos and highlights of all the biggest events and panels. You can get an early bird pass for Bitcoin 2023 at a steep discount if you head to b.tc/conference/bitcoin2023. Use code HODL for 10% off your pass.
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Okcoin is on a mission to make crypto investing and trading easily accessible to anyone around the world. We are building the next generation of tools to help onboard the investors and traders who have been on the fence about crypto. Okcoin a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore and Japan. We are a collective of global citizens with a common passion to help decentralize finance and level the economic playing field for everyone around the world. Visit go.okcoin.com/natalie for $10 in Bitcoin when you sign up.
Producer: Aron Bender
#bitcoin #cryptocurrency #money
Timecodes:
00:00 Promo Codes
01:58 Intro: Live from Miami!
02:21 Growing up in London
04:00 Early interest in computer science
05:01 CompSci plans and goals
07:59 Identifying problems, finding solutions
08:48 Cryptographers motivated by social benefit
09:29 Importance of individual sovereignty
10:28 Career development
11:18 Creating Hashcash
12:38 Evolving into Bitcoin mining
15:00 Vision of decentralized network?
16:14 Thinking about monetary reform?
18:07 Road to creating Bitcoin
19:49 First exposure to BTC
21:25 Connecting with Satoshi
22:15 Communicating with Satoshi
23:28 Cryptographer vs. cypherpunk
25:20 Satoshi's Bitcoin white paper
28:31 Remembering the birth of Bitcoin
30:21 Didn't start mining right away
31:24 Adam's BTC aha moment
32:11 Conversation with younger Adam
32:54 Interest in economics
34:00 Keys to Bitcoin
36:21 Understanding and simplifying Bitcoin
38:46 Corrupt centralized financial system
40:13 Evolution of Adam's view of BTC
42:57 Creating Blockstream
44:00 What is Blockstream?
45:21 Blockstream Satellite
46:53 Solar- and battery-powered mining
47:35 Thoughts on Elon Musk
49:24 Bitcoin's role in economic picture
51:51 Is a crash coming?
52:42 Any threat to Bitcoin?
53:41 Average American family BTC investment
55:43 Deep into Bitcoin
56:08 Adam Back is not Satoshi Makamoto
57:14 Vision for world under Bitcoin standard
58:47 Never stop learning

[@LearntoMakeHonestMoneyOnline]

I'm a simple man. When Satoshi is on a podcast, I LISTEN! 💪🔥

[@basslinejunkie2776]

Amen

[@DoJoe.]

🤫🤫

[@seis8522]

Don't say that. We all know it's a secret.

[@Throwingness]

Careful not to get the soon to be richest man in the world killed.

[@Stacksats21Qunitillion]

Thanks Satoshi for all your work. We are all grateful.

[@RR-et6zp]

Solid interview with Satoshi. Thanks for the interview Natalie, for history

[@Lewythefly]

Satoshi wouldn't create a crap side chain project like Adam has done

[@archiehickox6518]

@@Lewythefly he's Satoshi

[@RR-et6zp]

@@Lewythefly Not true. For bitcoin to work it needs 1. The founder to be anonymous 2. Be decentralised as much as possible. Every inventor will never let go of his project. It's not crap, its to allow bitcoin to be adopted for faster transactions while still keeping it's nature

[@hereigoagain3974]

The whole interview, he is saying that he has been in contact with Satoshi. So therefore he is not Satoshi. Everyone of reasonable intelligence can see this if you actually watch the interview.

[@MarSemedo]

great comment

[@dylanmorrisofficial]

What did we do to deserve an intellectual like Adam and a dedicated, talented reporter like Natalie? Thank you both from the bottom of my heart!

[@markpalmer8083]

An intellectual? He's far more than that. He invented it and had the sense and humility to make it anonymous.

[@duanejackson6718]

@@markpalmer8083 Any idea why he hasn't used his wallet?

[@markpalmer8083]

@@duanejackson6718 Who knows what wallets he's got.

[@BradleyADavis]

This was a great interview. Thank you Adam and Natalie.

[@jethroe1903]

Damn, Natalie. You nailed it here as an interview. My respect for you continues to climb. Not easy to get Adam to discuss at depth on these subjects, and he is not always as clear and focused as in this interview. Gave me a new appreciation of him, also

[@bheller34]

Excellent interview Natalie & Adam!! Enjoyed learning about the early days of Bitcoin & cryptography. Great info!

[@handcrafted30]

There are certain facts in life, death, taxes and the fact that Adam Back is Satoshi.

[@eddiew8800]

No mate… Craig Wright is Satoshi!

[@peterscottmorgan1]

@@eddiew8800 lol no

[@tungkukk]

@@eddiew8800 yes he is, a cosplay satoshi! The real is Adam or Hal!

[@eddiew8800]

@@tungkukk then why aren’t they being dragged through the courts trying to be sued for billions over the creation of Bitcoin? Why does Bitcoin SV (BSV) scale better than any other crypto? Please…. they are not Satoshi

[@Lewythefly]

If Adam was Satoshi then why did he create a crappy side chain project that goes against Satoshi's principles? Satoshi never intended Bitcoin to be completely anonymous and Adam has a problem with this. Adam is more of a cypherpunk that wants privacy and decentralisation. Satoshi never had a problem with privacy and understood that all things gets regulated and compliance with regulation is what creates a successful product/business. Satoshi never tried to make transactions fully anonymous and that is something Adam doesn't like. If it is fully anonymous then it is open for full on illegal activities such as money laundering and crime so would eventually be shut down. This is something that Craig Wright understands better than anyone

[@captkerosene]

That was a great interview. Perfect environment for Adam Back: quiet background with good audio (usually I can't hear him because he's soft spoken), time to answer questions thoughtfully without being interrupted, pretty girl (so he opens up) and the right questions to steer the conversation in the right direction. Well done NB.

[@BitcoinMoonMagic]

the bitcoin to moon is good magic

[@zorg621]

Adam is a boss. Love him. Thanks Nat!

[@robmarino314]

"Individual sovereignty" I find it interesting that Adam mentioned this was important to him. He's a top candidate for being Satoshi for sure.

[@yowh0dis897]

Hal was Satoshi.

[@robmarino314]

@@yowh0dis897 - Hal Finney is on the list of possible Satoshi suspects.

[@archiehickox6518]

@@yowh0dis897 Hal didn't code on a Microsoft machine

[@yowh0dis897]

@@archiehickox6518 I’m telling you right now, Hal is satoshi. I have done the do diligence. Just check the first ever transaction. If you had made bitcoin… what would your first transaction be?

[@archiehickox6518]

@@yowh0dis897 Hal was a high level programmer. He also didn't use Microsoft.

[@steveworth5757]

Very interesting interview, thanks for posting.

[@Challender]

Thank You, Both.

[@Hdianvciadpei]

Very personal and insightful interview. Thanks Natalie.

[@georgenriquez]

Thank you!

[@NoNAME-qi9tq]

Thank you NS

[@spiritusinfinitus]

Another great interview. Adam is so good at eloquently explaining things in a non-technical way. I like the guy

[@markpalmer8083]

Of course you like him. He invented it.

[@davidsparks1181]

@@markpalmer8083 he didn't. He just invented hashcash

[@avarmauk]

Godspeed Adam. Thank you for all your contributions and staying humble. May you live your life in peace. 😉

[@chrismale9976]

Satoshi himself talking about....Satoshi. Thank you Adam

[@eddiew8800]

Chris… hate to break the news to you but Craig Wright is Satoshi

[@peterscottmorgan1]

@@eddiew8800 lol, again... no

[@ctcsys]

Nope. Evidence is with Craig Wright. Sorry

[@chrismale9976]

@@ctcsys Delusional. The guy is an absolute lying lunatic. Been given perfect opportunity to move Satoshi coins. Could do nothing

[@peterscottmorgan1]

@@ctcsys it’s not, but share what you think you have

[@Julian-pj2zi]

Great interview and conversation Natalie! 👍

[@bcoiner]

Thank‘s a lot 🙏💯🙏

[@madbowler6]

Great interview, Natalie! Good job.

[@mikec9191]

Wow! Great questions, great interview!

[@lacantara23]

Powerful -interview..

[@ZcreativeDe]

Great interview, thanks!!

[@sethbracken]

Great interview and congrats on getting such a good mic on Adam lol

[@benbutter]

Great interview with the real Satoshi

[@shlomiunger3518]

Amazing stuff, Natalie!

[@shkottrendezvous6644]

Great interview.

[@rodrigoandrade5601]

Great interview! But is only available as 480p?

[@poegerard6421]

Great interview

[@benoitlambert1318]

Great interview, but why only 480p?

[@ren7sp25]

IYKYK 🙏

[@mark0365]

Great interview Natalie 👌

[@bryancabalo6229]

Feels like the way he responded so quickly to Wei Dai's BitGold being missing from Bitcoin's whitepaper means he was emailing himself with a Satoshi Nakamoto handle. Also, OG is Original Gangster, he is one of the Original Gangsters of Cryptography and Cypherpunks.

[@BatmanBoss]

Thanks buddy

[@zogun]

Thanks Natalie & Adam, i mean Satoshi 😅😂

[@louisclifford9874]

I came here to learn how to invest after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $160k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.

[@wilsonbrown8993]

Investing in stocks and crypto is a good idea, a good trading system would put you through many days of success.

[@tinythomas4438]

It is possible to produce superior performance provided you do something different from the majority. However most of us tend to pay more attention to the shiniest position in the market to the cost of proper diversification.

[@anthonysam9391]

Having monitored my portfolio performance which has made a jaw dropping $370k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market.

[@louisclifford9874]

@@anthonysam9391 Interesting, I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself, how do you achieve this?

[@anthonysam9391]

@@louisclifford9874 Exactly, the trick is to diversify your investment, don't panic when everyone else is and invest consistently.

[@NaughtyJackal]

"Adam Back is not Satoshi Makamoto". We know that. He is Satoshi Nakamoto.

[@curtisrader957]

love this one 😂

[@eddiew8800]

He ain’t neither of them… Craig Wright is Satoshi!

[@peterscottmorgan1]

@@eddiew8800 no. No he's not. In 6 years he's failed to prove it once, and worse, has presented fraudulent material in an attempt to back up his claims.

[@eddiew8800]

@@peterscottmorgan1 then why is he trying to be sued for $600 Billion??? 🤦🏻‍♂️ Why does BSV scale better then all the coins put together? The market is being manipulated at the moment.

[@peterscottmorgan1]

@@eddiew8800 1) Ira Kleiman is pushing for a retrial as CSWs lawyer ignored the Judge on a matter that influenced the jury. Ira Kleiman was told by CSW that his brother helped build Bitcoin and was worth a lot of money. Ira is going off of what Craig said… it doesn’t make it true 2) BSV is a centralised mess that nobody uses, and is 70 something in terms of market cap.

[@OnSiteTrav]

Mr. Sat great interview. Would love to hear his thoughts on his other project, Monero

[@Hugo-ew2ko]

480P quality?

[@INBOX-sopaidhelp]

ACTUALLY PERSONALLY FEEL THAT APPRECIATION WOULD JUST BE LESS BECAUSE THEY ARE SUCH AN ADORABLE AS WELL AS SUCH AN HUMBLE SOUL WHO ACTUALLY NOT ONLY UNDERSTOOD PEOPLES PROBLEM BUT ALSO STAND TO HELP!!!!!!

[@OnionKnight541]

Natalie is legitimately the best journalist i've seen in my life.

[@kiankok84]

Satoshi Nakamoto... The hero that we all need, but not the hero that we deserve ... All hail Satoshi...

[@Anti-Ratshield-vel-Antysystem]

We deserve it.

[@0404chrisjz]

Eww I think that’s one of the reasons he didn’t want his name attached, weirdos like that running round calling him a hero

[@markpalmer8083]

Wow. Satoshi himself! Has anyone ever looked so guilty?!

[@fannys941]

Absolutely! 😏😏😏

[@davidsparks1181]

Lol He's not Satoshi.

[@kindnesslove5482]

@@davidsparks1181 he probably is. Research it. Most likely candidate and I think a couple of his most trusted cypherpunks friends probably knows as well.

[@davidsparks1181]

@@kindnesslove5482 he's NOT Satoshi and there's plenty of evidence to prove it.

[@kindnesslove5482]

@@davidsparks1181 like what ?

[@7antonio9]

Adam is definately a part of Satoshi. Visions of how the future should look like for bitcoin may caused a split in workenvironment. I guess the key for the satoshi wallet is fragmented between the inventors which are in conflict.

[@GreenBoiler]

Dear Natalie, I don't know why my wife gets so mad when I watch your podcast. My wife likes bitcoin too, strange. Regardless, this was an amazing interview. Keep it up.

[@larryblock4638]

Great interview Natalie! You should send the last minute of the interview to Elon who still thinks Bitcoin block size needs to be increased lol

[@peterscottmorgan1]

35:10 although it's not spelled out, this alludes to the issue of blocksize and scaling. There were a number of debates around this even when the pseudonym was used, and ultimately culminated in the blocksize wars

[@peterscottmorgan1]

... and given that he's never been a dev, he goes on to say he tried to improve it. Coughs... whoops, the mask slipped a bit there.

[@Siluetae]

Natalie mc'd the main stage at bitcoin 2022, she is one of the most skilled interviewers around, and just amazingly sweet. That's all, back to your days...

[@go5582]

Hi . AB is a creator and the mastermind of gathering software and hardware to create Bitcoin.

[@go5582]

Great interview.

[@F1END.MEGALITHIC]

Hi satoshi love you!

[@billstowe2]

Love your work Natalie. But this video ends almost mid sentence. Your own wrap up of your takeaways would have added value here.

[@knowntheplaya]

that smurk when he mentions bitcoin lol

[@mdawg8770]

Wow u got satoshi on the show

[@madzikud02]

lmaoooo his satoshi gigs up

[@davidgene692]

He could be Satoshi. But we'll probably never know.

[@markpalmer8083]

He is

[@chrismale9976]

Definitely is

[@ctcsys]

Get on Kurt Wuckert Jr about Bitcoin history

[@BlacksmithMD]

Occam`s razor candidate

[@antanasbeinoras7236]

I see 2 possible possibilities : a) Adam is Satoshi b) Adam definetely knows who is Satoshi. Its highly unlikely that Satoshi send first BTC ever to some stranger ale Adam Back :)

[@austinpage9463]

It is believed that Adam Back is actually Satoshi Nakamoto, the anonymous creator of bitcoin

[@unwavery]

could be. either him or finney imho.

[@austinpage9463]

@@jeremiahlim2925 yeah but bitcoin sv was certainly never Satoshi's actual vision. Satoshi has always been adamant about the small block size limit

[@petermason8572]

I am sure that the introduction of bitcoin is only a matter of time. Everything dictates to us the need for this. I prefer now to buy Bitcoin on Bitfinex for the long term.

[@robertomarin6476]

First! Love your videos

[@Hellothereanakin]

480p :(

[@julessouthin9317]

Nat's leg show

[@kashmirwillwin3124]

Who knew Gordon Freeman would turn out to be Satoshi

[@ioanaioana8815]

Adam, you are Satoshi! ❤

[@jpbsv]

Lol. Craig Wright is satoshi.

[@ioanaioana8815]

@@jpbsv lol, creg doesn't understand neither maths nor phisycs. Not to mention cryptography. Creg is a liar and a fraud! And we know it.

[@peterscottmorgan1]

@@jpbsv My dog is more likely to be Satoshi that Craig Wright

[@jpbsv]

@@peterscottmorgan1 I suggest you learn to spell before you start criticizing a genius

[@peterscottmorgan1]

@@jpbsv CSW's spelling is worse than mine, and his mathematical alibility is highly questionable. Feel free to pull out any other spelling mistakes that don't help to further your argument

[@tradito]

360p upscaled to 480p? In 2022? Really?

[@deathmetaldxb]

AKA Satoshi Nakamoto

[@arbo3495]

Next time record in 4k

[@PC-iv5so]

I think we all know who Satoshi is.. But out of the safety for his family (who are still alive) everyone cool... tries to keep it on the down-low.

[@lauramcconney9367]

Lack of education is the only real problem for societal advancement!!! At 75 I found Max Keizer, then Saylor, & Breedlove! Put common sense to work and made my 1st investment ever,BTC 👌. STILL BUYING ALL I CAN AFFORD/ NO REGRETS 😊❤

[@tomjones5916]

* Satoshi on Bitcoin history *

[@euclideszoto997]

Why he doesn't come forward and just admit he's Satoshi is the real mystery. I guess he likes it this way.

[@NateWaldron]

Adam Back is obviously Satoshi.

[@markpalmer8083]

Correct

[@chrismale9976]

💯

[@markclemmens2862]

Finally Natalie got Satoshi on the show.

[@fr4nkey647]

Why I have feeling that this man knows something he don't want to say :D Either he is Satoshi its his neighbour :D

[@Web3WondersUS]

9:26 Solutions good for individual sovereignty. Privacy at stake. ISP logging everything. Build Solutions to provide privacy Solutions.

[@NotMe-wh5vb]

I could not figure out why his knee was shaking. Clearly, he was nervous about something.

[@salohicn12]

I'm satoshi

[@denah5649]

Satoshi is not one person; it's a group of people. Adam wrote the paper, but I don't think he is the only one fully responsible for Bitcoin. I believe a number of them connected and worked together to bring it to life, including Nick Szabo and Hal Finny amongst others.

[@thomasjhoeller]

The fact that Satoshi asked him for citations points straight to Craig Wright and his non stop involvement in university programs. Most likely to complete a peer reviewed research paper. Craig Wright is Satoshi

[@jongoth]

"Satoshi talks about himself" 😂

[@Hellothereanakin]

🙏🧡⚡️

[@grandflasherb]

This is Satoshi

[@zZnighthunterZz]

i dont think batteries are good for this, the sun will shine always somewhere so put maximum solar gains directly into mining. also the "stops" of wind turbines cause of overproduced energy can be used to mine. and on a even bigger scale those unused hydro in many unpopulated areas ofc

[@womblestacker7993]

Beautiful woman

[@Lewythefly]

32:08 definitely NOT Satoshi!!!!!!!!!!!!! He just sees Bitcoin as a way to make money

[@unkowntheunkownsatoshi4842]

I am Satoshi nakamoto and I'm happy things have changed over a decade and I still haven't won yet but I will faster then anyone can imagine.

[@AHofmann25]

Satoshi?

[@OnionKnight541]

adam back is not satoshi

[@smalai1]

Keep it secret boys

[@christopherkeith6503]

God she's so beautiful... interview me too, please.

[@dominic133]

*I'm new to cryptocurrency and I don't understand how it really works. Can anyone show me the right approach to investing and making good profits from cryptocurrency investments?* ..

[@tylerthomas4101]

All you need as a beginner to start making good profits from cryptocurrencies is a professional trader to trade on your behalf, otherwise you could end up losing.

[@mattphilips4931]

That's true, you need an experienced trader to make good profits trading cryptocurrencies.

[@savior1085]

As a beginner who doesn't understand how crypto really works, I advise you to find yourself an experienced trader who will trade for you while you receive the profit. This is the best way to make a good profit from cryptocurrency investments.

[@rjames3981]

Talk of new digital passports linked to bank accounts make it imperative to accumulate Bitcoin asap.🏃🏾‍♀️🏃🏽‍♂️

[@enjoy-qq5yi]

Craig Wright is satoshi

[@entropyfu]

hilarious, keep it up

[@angelasmith9334]

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[@angelasmith9334]

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[@bmiller1958]

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[@briancarol8155]

Pumps or dumbs, I still earn around 1 btc every week with her strategy. I recommend her If you’re holder like me.

[@charlesanny499]

@@bmiller1958 Caleb Blake is a trader with a different approach entirely, I can't figure out how she does it, her strategies work the magic.

[@aronoscar1162]

Generally, profits and losses are almost unlimited in BTC. Mostly, it depends on your risk appetite, your trading strategy and get a professional.

[@rubymiddleton2094]

[@rubymiddleton2094]

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[@susanjoy2249]

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[@hannahbrown4603]

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[@dannygroner8334]

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[@zaccampbell494]

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[@paulemily9752]

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[@daniellisa3541]

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[@daniellisa3541]

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[@daniellisa3541]

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[@daniellisa3541]

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[@justinpamela2193]

You are absolutely right