Proof of Stake (PoS) Versus Proof of Work (PoW) w/ Jason Lowery (BTC098)

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- Dr. Adam Back & Bitcoin's Proof of Work: • BTC022: Dr. Adam Back ...
Preston Pysh interviews MIT Graduate student Jason Lowery, who's a security researcher from the Department of Defense on Proof of Work and Proof of Stake protocols.
IN THIS EPISODE, YOU’LL LEARN:
00:00:00 - Intro
00:00:41 - Why are property rights an important starting point for understanding the differences between Proof of Stake (PoS) and Proof of Work (PoW)
00:07:19 - What is Abstract Power versus Physical Power and why are they important for understanding Proof of Stake (PoS) vs. Proof of Work (PoW)
00:22:08 - Why do the rules around property rights keep breaking down throughout time
00:40:07 - Explain the importance of basic computer science and how computer programs work so we can understand the differences in Proof of Stake (PoS) and Proof of Work (PoW)
00:50:21 - A general introduction to Proof of Stake (PoS) vs. Proof of Work (PoW)
01:00:44 - Hal Finney and Adam Back's contributions to developing the first blockchain
01:19:09 - If you were going to exploit a PoS or PoW system how would that work
01:23:33 - Creative destruction and how it applies to protocols
01:33:56 - Jason's thoughts on Jamie Dimon liking everything but PoW
01:40:47 - Vitalik Buterin's comments on PoS not being tethered to physical reality
01:45:05 - How has the faculty at MIT responds to your research
02:03:19 - If you had a message to policy makers, what would it be
🖊️ Access the transcript and learn more about the guest here: www.theinvestorspodcast.com/b...
📖 BOOKS MENTIONED:
- The Rise and Fall of the Great Powers by Paul Kennedy: amzn.to/3e9GyB1
- The Collapse of Complex Societies by Joseph Tainter: amzn.to/3ruaBq3
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On Bitcoin Fundamentals, Preston Pysh talks about the fundamentals of bitcoin, investing in bitcoin, news, deep dives and more on interviews with prominent people in blockchain technology.
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i owe my success to the expert guidance of Eric Birger, whose strategic acumen has led to substantial BTC gains of 8.2. His foresight in navigating the crypto market is unparalleled.

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Crypto has taught me valuable lessons about patience and emotional control. Stay strong! 💪😌

[@PikaBane94]

This kind of stuff being free to watch on the internet is truly amazing.

[@chrishayes8012]

Not only are we lucky to have Jason, we need him.

[@cmc8553]

And Preston 😎

[@yvrytry5rc]

Jason lowery is a modern day hero

[@jehannekejup7142]

We don't need him, or anyone. But I do appreciate his work.

[@RedPillDiaries]

need implies lack of decentrali2ation / single point of potential failure

[@dingfeldersmurfalot4560]

I'm glad he's on OUR side.

[@OrmondOne]

Jason’s ability to breakdown complex subjects keeps you engaged the entire time. Request for a quarterly Jason deep dive into various subject matters that match with the shows vision.

[@tj78492]

He's basically been doing that on Breedloves channel

[@graydonforward7358]

My God...I thought I was Orange pilled before listening to this. That was absolutely incredible, relating POW to evolution and sapiens development. With this young man advising the upper echolons of Government and defense, I think the future of Bitcoin and POW could be absolutely mind blowing.

[@antoinedesjardins6752]

I know, right!? It's like re-orange pilling yourself.

[@MystiqWisdom]

He's not going to advise upper echelons of anything, unfortunately. The abstract power hierarchy is completely corrupted. Why would they allow a truth speaker such as Jason?

[@tobychenderson]

Probably the best interview I've listened to in over 5 years.

[@kennethmayor3596]

Damn right

[@somebodyelse5784]

I almost never do this, but this is one of those rare times I'll have to listen again, back to back.

[@Peranine]

Absolutely stunning conversation.

[@kylescott6421]

Outstanding indeed. Just right on the money.

[@Fittanbullsson]

In the past two years I've listened to hundreds and hundreds of podcasts about bitcoin. I have a list of 10 podcasts that I always send to people who want to learn about bitcoin and proof of work. This will now be the 11th. Great great podcasts. Mind blown

[@neilmostyn3277]

Can you list the Top10 please? Would be really interested to see it. Thanks

[@pupfriend]

what are the other ten?

[@atom3850]

I’ve compiled a similar list and would love to see yours

[@simonseverino]

Magnificent. Thank you for doing this Jason and Preston!

[@aowsbaker8449]

Just when I thought I understood everything about Bitcoin.. this is amazing content.

[@AnonDa]

Mind fully blown. Without doubt the best articulation of the merits of PoW i have seen

[@EveryDayWalkingWithChrist]

EPIC! MUST WATCH!!! Thank you Preston and Jason!

[@JuiceBox_Miami]

Thank God for Jason Lowery! The depth of knowledge that flows from this young man’s mind is simply amazing!

[@reidjohnson3964]

I’ve listened to this 3 times over the last year and it gets better every time.

[@Skydrops6]

Jason brings a truly unique perspective to help our understanding of Bitcoin. The Bitcoin network is so much more valuable than just a monetary system.

[@backseatstudios6903]

I keep coming back to this interview and it keeps blowing my mind 🤯

[@00JamesMoody00]

Cutting edge thinking, absolutely grounded in reality and logic. Fantastic to listen to

[@lookatthetrees7494]

2 of my favorite guys to listen to. Thanks Preston and Jason!!

[@mkmstillstackin]

Fantastic conversation. Thanks Preston and Jason!

[@abovemypaygrade491]

Great high level convo

[@ryszardmacko6306]

Wow! This, indeed, is one of the best interviews I've watched! Saved for future re-watching. Thank you gents. Cheers!

[@mdubore]

Good shit Jason, best explanation on computer and software abstraction i have ever heard.

[@mc-kz8zn]

WOW! This. Was. Genius. Mind blown, unbelievable interview! Going to watch this again, so many amazing points. Profound, well thought through, just awesome. Thank you for this work!

[@ThepoweroftheBitcoinnetwork]

Need to watch this several times. Mind blowing.

[@larryblock4638]

This is the Tip of the Spear of knowledge to be able to understand WHY Bitcoin POW is Superior to all other consensus mechanisms (POS.). I have goosebumps listening to this and can’t believe I get to participate and learn “real time” as the World’s powers structures are at war with each other (currency wars, God King’s, and Protocols.). All I can say is THANK YOU Jason & Preston!You both are improving the depth of my understanding and the quality of my life!🙏❤️

[@timefactor3763]

lots of wow moments. Thank you guys.

[@lenjohnson5343]

Thank you, Jason. I have just begun my journey down the rabbit hole. Wow, this interview has opened my eyes.

[@bridgerlogan1923]

Proof of work is the best 'spent' energy you could use. PoS is just a fiat model, thats why the WEF is in love with ETH all of a sudden. Can be controlled by large stake.

[@robertrichards4930]

Eth is crap.

[@discodisco3063]

@@robertrichards4930 That's why the community is slowly moving to Ethereum Classic

[@heydude696969]

Always fascinating listening to Jason and Preston discuss PoW vs. PoS.

[@jerricknaylor9686]

Jason is king

[@ckniffen7111]

God King

[@ricp]

Thanks so much for this great conversation!!!

[@DisperseControl]

This is a brilliant interview and inspires what I want to do professionally. Great work, thank you

[@MothershipVR]

This is great. Listening to Jason makes me want to get some more hashpower

[@aross777]

This is one of the most informative and useful discussions I have heard. Thank you to Jason and Preston for putting this out!

[@anzori2002]

Mind blowing! Thank you!

[@pran10000]

Thank you gents!! Excellent stuff.

[@laurentscheercousse3856]

Masterpiece podcast to keep in the shelve with what is money show Saylor/Breedlove… 🙏🙏🙏thank you so much gentlemen’s !

[@anesskattan6259]

Amazing chat

[@auralenergy9082]

Wow! Just wow!

[@fadibataineh2379]

Thanks for your effort guys, great video

[@kylehoorn5192]

Incredible conversation.

[@azdjedi]

Great. Good explanation of pow

[@Hugo-ew2ko]

Jason is incredibly intelligent & knowledgeable. Great to see how interested he is in these subjects

[@andyt2363]

Brilliant discussion, very philosophical and interesting comparisons

[@End_The_Fed]

Incredible - thank you, Jason!

[@michaelbhatti6846]

Most interesting video I’ve ever seen on pow vs pos. Amazing!!

[@ambrose391]

Loved this you Blokes, well done!

[@gianboontiong]

Excellent discussion. Many thanks..

[@sarros13]

Thank u for providing this amazing interview!!!

[@artefacto2114]

we need this guy talking with Michael Saylor on a podcast

[@Dante3X]

Power projection is fueled by the Power of knowledge 💪🏾🔥

[@pyxis55]

🤯🤯🤯🤯🤯🤯The deeper I go, the more steadfast I get. Profound stuff, Preston.

[@JNorth87]

Is Entropy the decentralization mechanism of energy?

[@chucksirois1142]

thank you guys for the wonderful intellectual presentation and the clarity of your message. you and others are my god kings😁

[@TheBitcoinRevolution]

The Keys to the Kingdom. Pow!

[@kieranmoriarty8366]

Need more of this

[@pdizzle8568]

Finally more Jason P Lowery content!

[@SpringismySeason]

Mind blown!🤯

[@jaareshiahq2106]

Elite interview, Jason does a great job of explaining the basis of human society and how exponentially impactful bitcoin is and will be

[@trishhaines7151]

Oh, Jason! I far from understand all you say, but from day one when you transitioned from LinkedIn to Twitter, I have greatly appreciated your insights. CONGRATULATIONS on being invited to advise the WH Exec. Ofc. on strategic security benefits of Bitcoin. I have confidence you'll give it your best. EXCELLENT pod here with Preston! 🧡🧡

[@shinforex]

the best podcast breakdown philosophic ideas

[@shareurtube]

Without a doubt this is the most impressive video about cyber currency and points brought up by Jason Lowery. After watching your video Preston I cannot say enough good things about it. The one profound statement that hit the hardest was what Jason said about letting Bankers be in charge of bitcoin. For God's sake they should not be in charge of protecting our Cyber Dome and only allow those people who can keep up with what Jason is trying to convey to America. Thanks again Preston for this was a very important video.

[@blockfuture6156]

The whole POW analogy to violence and physical power is great and makes complete sense. But we must ask ourselves, why did humanity begin to abstract power in different ways? For progress and scale. If POW is truly the unbreakable and one true system to rule all, then by the analogy we would still be living in a world of neanderthals who are essentially driven by physical power. The analogy is great because it's true, neanderthals could not scale into groups larger than 20, just like Bitcoin can't be the underlying framework for scalable, complex, systems. Homo sapiens arrived with the ability to make abstractions of power, which in history proved the long term winner - a natural evolution into a "POS" society. "Theres no limit to how many Watts someone can summon to defend POW". Watts cost money. Stake costs money. Through inference you can say: Theres no limit to how much stake can be summoned to defend POS. In fact, staking is far more streamlined than having to deploy physcal servers to mine, so defence can be summoned quicker in POS. As far as blockchain POW vs POS goes, we need both

[@PrimordialEconomics]

I hope you have taken the time to read the thesis now that it's published

[@ckniffen7111]

Preston is good cuz he listens.

[@jonatanduelund9123]

Thank you 🙏 This is just the information i was looking for 👍 Watching the Michael Saylor episode next.

[@calebhoward4253]

This was mind blowing. Excellent conversation.

[@jshagenow]

My question is this…what happens when you time-lock bitcoin future price/value appreciation to be split by the “communicating parties” to a future date? Not for every transaction but I certainly the major ones (whatever “major” means to the consumer)…specifically rent/mortgages. It seems like this would turn bitcoin into a method that literally sucks the “value/money” right out of real estate??? Probably all major assets/commodities…companies that offer it will flourish and customers (of all markets) will begin to demand it? Or am I wrong?

[@Angus1507]

Mind opening. Thanks gents.

[@jksmithiii]

Great stuff with Jason Lowery. Thanks Preston Pysh. We need to redefine the whole Bitcoin maxi narrative, because it's too easy to pick at. This is a PoS vs PoW issue, and how any property, no matter what it is, must be protected. Imagine if cryptographic algorithms in general could be challenged by PoS instead of PoW.

[@Steve.191]

Sweet. Confirmation is wonderful 👍

[@LiborTinka]

As a former software engineer I was looking into Algorand's PPOS (Pure Proof of Stake) to see whether I am (as a Bitcoin user) really not missing something important... it seems the whole network actually relies on some 100 so called Relay Nodes, which need to be servers handling many connections, with public address AND publicly listed. So this again boils down to the problem of authority taking over the protocol.

[@hametly254]

Dude is so smart and a joy to listen to. Can’t believe this shit is free!! OneLove…

[@copenhagen995]

Epic

[@AlexBeau]

This is blowing my mind

[@QuadTap]

what Preston says at 1:53:00 is profound

[@LusoCMD]

So good!!

[@beast7815]

Jason the GOAT fucking love this guy ! Did he write a book ?

[@gommaardhulst]

A conversation at the highest level of human intelligence

[@davef5916]

GOD DAMN

[@CSanderson]

When I listen to Jason, Preston, Saylor, Saif, Breedlove… I realize my brain is a 4 cylinder rustbucket while these guys are rolling a v12 sedan! 🤯

[@ryszardmacko6306]

I just re-watched this vid and, oh boy, I've noticed so many new things I 'missed' the previous time. I will watch it again in a few months. Everybody that thinks POS is the "right" way should follow Jason's work and really and truthfully apply their intellect to Jason's arguments. And if they're honest, they will convert to POW.

[@coinborg8305]

Lol all the people who shit on Jason on Twitter for being a spook or something are so dumb. Listen to what he says. What he’s saying is factual and provable. I don’t see any mental gymnastics going on here. It’s all based on first principles and historical references. Bravo!

[@PrimordialEconomics]

If anything his thesis flies in the face of the high ranking members of our system who are corrupt and regularly choose to exploit and abuse their control authority over the money printer.

[@jacobhower1291]

The domestication of men in America is intentional. J. Peterson speaks to this as well. Great insight Jason.

[@PrimordialEconomics]

Humans self-domesticated over thousands of years.

[@ThePhilosophyDoctor]

Fantastic! A lesson in Ontology! Proof of Stake - a sign with a drawing of a guard dog. Proof of Work - a real snarling dog guarding your house. It's like saying the sign can do the same thing as the real dog. The drawing of the dog is an abstraction from the real thing. The communication is meant to make you believe there is a real dog there. And it is using the fact of the real thing (guard dogs) already existing to deceive you.

[@abkg84]

Wish this was in my curriculum growing up together with all the stories being told in religion class., like an interesting story nature class, but a simpler word for it, not using the word bitcoin.

[@bhriscannan2080]

What do you think of a hybrid layer 1, primarily POW with stretch capabilities on POS? That should help address the blockchain tri-lemma

[@wayfinderMatt]

01:23:34 Regarding Nations printing fiat to gain more stake. couldnt they print fiat to build more solar farms too and get more pow? thx

[@farkasgr]

with this you just increase the demand for solar farms which increases the price. So at the end you have to buy solar farms for infinite price.

[@mountainbeachman]

@ 1:35:50 -ish LOVE Jay's smile 😃!!

[@ProfitMaximazer]

A podcast with Jason Lowery and Michael Sailor together would be amazing

[@cryptofan6937]

How do we get Jason to speak to the US congress?

[@cryptofan6937]

Should we start contacting senator Lummis?

[@copenhagen995]

Beauty

[@Mike-lz2ef]

wow..I want to send this out to everybody I know...but they just won't get it...I barely get it

[@mlscaramouche]

Mind continuously expanded. Holy sh*t.

[@DIRTYWORKER1000]

Jason will become the Carl Sagan of cyberspace one day.

[@gaudykyle101]

Go and watch to 1:55:00 - 2:03:25 he perfectly verbalizes the “so what” of bitcoin. MIND BLOWING!!!

[@Gabriel-by3yx]

Thanks, learned a loot

[@RONIN_SATS]

Unpopular opinion We do not fully understand bitcoin yet. Is it important? Yes Is it secure? Yes Is it money? Yes Is it time? Yes Is it energy? Yes Is it property? Yes It is power projection? Yes Is it neutral? Yes Is it a transportation device? Yes Is it defensive? Yes Is it truth? Yes Is it fair? Yes Could it be more? Yes Could it be used in ways we haven't even imagined? Yes Could it be a part of everything? Yes

[@Onesien]

I would add to the computer science abstraction thread that all these abstractions are our way to understand/interact with/manipulate all the energy that pervades the entire universe

[@dev77799]

should invite Vitalik to answer some questions in this interview. I bet he can't. Great evolutionary explaining done here

[@jelio123456]

Great!