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Adam Back, co-founder & CEO of Blockstream & the Inventor of HashCash, and Jason Lowery from the US Space Force join me for an incredible conversation around Adam's invention of "Proof of Work," the impact of Bitcoin on war-fighting, the future of power projection strategies.
Guest Adam Back's Twitter Account: https://twitter.com/Adam3us Jason Lowery's Twitter Account: https://twitter.com/JasonPLowery
Outline
00:00:00 “What is Money” Intro 00:00:08 Learn about Bitcoin with Swan Private at SwanPrivate.Com 00:01:37 Jason Lowry & Adam Back Intro 00:02:34 What is HashCash? 00:10:36 What does a “Collision” mean? 00:13:01 Explaining the “Birthday Example” 00:15:44 Differences between HashCash Stamping & Bitcoin’s Difficulty Adjustment 00:20:39 How Adam Defines “Expensive” in HashCash’s Protocol 00:24:27 Creating a “Trap Door Free” Cost Function 00:30:07 The Origin of the Term, “Proof Of Work” 00:35:54 Cost Association with Proof of Work
00:46:29 Explaining Proof of Work & Hash Functions 00:48:27 When did Adam realize how Important Proof Of Work is? 00:54:40 Why do Stable-coin Protocols Fail? 00:58:41 Taking “Brute Force” Power away from Kinetic Energy to Electrical Energy 01:07:21 Explaining the “Byzantine Generals Problem” 01:12:04 Bitcoin taking the “Rules of Man” out of Trust 01:18:42 Watch "Hard Money with Natalie Brunell" From Swan Studios & Bitcoin Magazine! 01:19:28 Take Control of Your Healthcare with CrowdHealth! 01:20:36 How do you Enforce Rules without Trust? 01:25:41 Skepticism & Questioning Bitcoin 01:30:07 Bitcoin Immutability & Trust 01:33:10 Defining the “Resource War” 01:39:23 Brute Force, Power Projection & the State 01:42:58 History from Kinetic Hardware to Computational Software 01:56:11 Bitcoin’s Protocol Incentivizing Coordination amongst users 02:03:30 Could Bitcoin Reduce Warfare? 02:11:40 Can Bitcoins Protocol be Exploited? 02:21:08 “Unbounded Cost”, Trying to 51% Attack Bitcoin 02:28:37 The Future of “SoftWar” & Bitcoin Mutually Assured Defense 02:36:04 Drone Warfare vs Bitcoin, Brute Force Power Projection 02:38:58 Darwinism & Mans need for Competition 02:46:44 Bitcoin Non-Lethal & Peaceful Protocol 02:55:47 Where to find Jason & Adam’s Work & Social Media 02:56:40 “What is Money” Outro