Bitcoin has had more than its share of drama. There is, of course, the mystery surrounding its anonymous founder (or perhaps, founders) Satoshi Nakamoto. More recently, there's been a battle over whether the size of blocks need to grow to account for more capacity -- especially since there isn’t much time left to make changes before blockchain capacity runs out, says core bitcoin developer Mike Hearn. Hearn joins a16z’s Chris Dixon on this segment of the a16z Podcast to discuss the current state of bitcoin development; Hearn’s own Lighthouse creation, which is a bitcoin-based crowdfunding app; and what it will take to move the bitcoin protocol into the mainstream.
with Chris Dixon (@cdixon), Ali Yahya (@ali01), and Devon Zuegel (@devonzuegel) “Show me the incentive and I'll show you the outcomes.” At the end of the day, observes a16z crypto general partner Chris Dixon, Satoshi's whitepaper [the original bitcoin paper outlining a peer-to-peer decentralized network and blockchain sans centralized third parties] is nine pages of incentives. It's the kind of incentive design that you can use to build many other things on the internet (which itself is driven by very simple core protocols and could even upgrade itself as a result). But only with the right incentives (and alignment of those incentives among different entities), of course. Which is where cryptonetworks come in -- especially since they don't rely on hardware buildout (as with earlier generations of internet deployment), but rather on software (which is essentially just logic, the kind of building block you can use to build countless other things). The breadth of possibilities is endless. This means that platforms and networks (and operating systems, for that matter) can spend less time, energy, money, and frankly, suffering due to fighting -- thanks to distorted business models that lead them to extract value from users and compete among complements (vs. substitutes/better alternatives). The internet-native business models baked into crypto, however, could lead to greater competition and better options for users. But what are the missing building blocks, that can help make such networks more iterated games vs. one-off prisoner's dilemmas? And what will it take for these networks to truly reach web-scale, as it's still just the beginning? Because decentralization is the means to an end -- not the end in and itself -- observes a16z crypto partner Ali Yahya, so what do we need to build next to get there? In this episode of the a16z Podcast (guest hosted by freelance software engineer and writer Devon Zuegel), Dixon and Yahya share their thoughts on where we've been, and where we're going with the internet. Please note that the a16z crypto fund is a separate legal entity managed by CNK Capital Management, L.L.C. (“CNK”), a registered investor advisor with the Securities and Exchange Commission. a16z crypto is legally independent and operationally separate from the Andreessen Horowitz family of fund and AH Capital Management, L.L.C. (“AHCM”). In any case, the content provided here is for informational purposes only, and does NOT constitute an offer or solicitation to purchase any investment solution or a recommendation to buy or sell a security; nor it is to be taken as legal, business, investment, or tax advice. In fact, none of the information in this or other content on a16zcrypto.com should be relied on in any manner as advice. You should consult your own advisers as to legal, business, tax and other related matters concerning any investment. Furthermore, the content is not directed to any investor or potential investor, and may not be used or relied upon in evaluating the merits of any investment and must not be taken as a basis for any investment decision. No investment in any fund advised by CNK or AHCM may be made prior to receipt of definitive offering documentation and due diligence materials. Finally, views expressed are those of the individual a16z crypto personnel quoted therein and are not the views of CNK, AHCM, or their respective affiliates. Please see a16zcrypto.com/disclosures/ and a16zcrypto.com/disclaimers/ for further information.
Andreessen Horowitz's Chris Dixon and Balaji Srinivasan discuss the state of the Bitcoin ecosystem now that the Mt. Gox dust has settled. What's next in crypto-currency, and a theory on Bitcoin creator Satoshi (not Dorian) Nakamoto.
Nic Carter is a financial researcher, investor, writer, and podcaster on topics of decentralized finance. Please support this podcast by checking out our sponsors: - The Information: https://theinformation.com/lex to get 75% off first month - Athletic Greens: https://athleticgreens.com/lex and use code LEX to get 1 month of fish oil - Four Sigmatic: https://foursigmatic.com/lex and use code LexPod to get up to 60% off - Blinkist: https://blinkist.com/lex and use code LEX to get 25% off premium EPISODE LINKS: Nic's Twitter: https://twitter.com/nic__carter Nic's Website: https://niccarter.info/ Nic's Blog: https://medium.com/@nic__carter Nic's Podcast: https://onthebrink-podcast.com/ PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ Full episodes playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOdP_8GztsuKi9nrraNbKKp4 Clips playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOeciFP3CBCIEElOJeitOr41 OUTLINE: 0:00 - Introduction 7:57 - Can humans fully understand reality? 10:26 - The dollar system 16:36 - Bitcoin 18:12 - Opendime 22:14 - Core values of Bitcoin 30:43 - Who is Satoshi Nakamoto? 36:31 - How Bitcoin works 44:54 - Bitcoin blocksize wars 57:19 - Layered scaling of Bitcoin 1:02:17 - Lightning network 1:05:17 - Schnorr/Taproot update to Bitcoin 1:10:10 - Criticisms of Bitcoin 1:19:56 - Bitcoin failure modes 1:27:59 - Bitcoin vs Ethereum 1:31:55 - Vitalik Buterin 1:34:49 - Creative destruction 1:39:43 - Future of Bitcoin 1:43:30 - Tesla, Elon Musk, and Dogecoin 1:51:36 - NFTs 1:58:52 - Bitcoin maximalism 2:05:29 - On writing 2:11:30 - Writing a book on Bitcoin 2:16:00 - Bitcoin resources 2:18:49 - Book recommendations 2:20:48 - Advice for young people 2:24:05 - Meaning of life SOCIAL: - Twitter: https://twitter.com/lexfridman - LinkedIn: https://www.linkedin.com/in/lexfridman - Facebook: https://www.facebook.com/lexfridman - Instagram: https://www.instagram.com/lexfridman - Medium: https://medium.com/@lexfridman - Reddit: https://reddit.com/r/lexfridman - Support on Patreon: https://www.patreon.com/lexfridman
Robert Breedlove is a decentralized finance entrepreneur, philosopher, and podcaster. Please support this podcast by checking out our sponsors: - Fundrise: https://fundrise.com/lex - LMNT: https://drinkLMNT.com/lex to get free sample pack - Munk Pack: https://munkpack.com and use code LEX to get 20% off - BetterHelp: https://betterhelp.com/lex to get 10% off EPISODE LINKS: Robert's Twitter: https://twitter.com/Breedlove22 Robert's Linktree: https://linktr.ee/breedlove22 What is Money Show: https://www.youtube.com/c/RobertBreedlove22 PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ Full episodes playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOdP_8GztsuKi9nrraNbKKp4 Clips playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOeciFP3CBCIEElOJeitOr41 OUTLINE: 0:00 - Introduction 2:37 - Sovereignty 9:42 - Territorial imperative 14:19 - Property 20:24 - Anarchism 23:03 - Inflation is theft 27:26 - Volatility is truth 32:05 - Taleb and Bitcoin 36:13 - Life is information propogating through flesh 47:12 - Intelligence 51:25 - Space and time 58:07 - Pragmatic truth 1:09:05 - Creative destruction 1:12:54 - Capitalism vs Communism 1:25:38 - Jordan Peterson on religion 1:29:54 - Inflation 1:33:45 - What is money? 1:47:21 - What is Bitcoin? 1:58:27 - Bitcoin vs other cryptocurrencies 2:06:38 - Can governments ban Bitcoin? 2:19:20 - Bitcoin toxicity is tough love 2:32:39 - Crypto scammers 2:41:50 - Eric Weinstein and Bitcoin 2:48:12 - Satoshi Nakamoto 2:52:42 - Money is energy 2:59:56 - Proof of stake vs proof of work 3:02:36 - Morality 3:17:21 - Collapse of the Soviet Union 3:20:51 - Jordan Peterson and Bitcoin 3:33:20 - Book recommendations 3:52:40 - Advice for young people 3:56:11 - Love SOCIAL: - Twitter: https://twitter.com/lexfridman - LinkedIn: https://www.linkedin.com/in/lexfridman - Facebook: https://www.facebook.com/lexfridman - Instagram: https://www.instagram.com/lexfridman - Medium: https://medium.com/@lexfridman - Reddit: https://reddit.com/r/lexfridman - Support on Patreon: https://www.patreon.com/lexfridman
Full episode with Vitalik Buterin (Mar 2020): https://www.youtube.com/watch?v=3x1b_S6Qp2Q Clips channel (Lex Clips): https://www.youtube.com/lexclips Main channel (Lex Fridman): https://www.youtube.com/lexfridman (more links below) Podcast full episodes playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOdP_8GztsuKi9nrraNbKKp4 Podcasts clips playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOeciFP3CBCIEElOJeitOr41 Podcast website: https://lexfridman.com/ai Podcast on Apple Podcasts (iTunes): https://apple.co/2lwqZIr Podcast on Spotify: https://spoti.fi/2nEwCF8 Podcast RSS: https://lexfridman.com/category/ai/feed/ Vitalik Buterin is co-creator of and author of the white paper that launched Ethereum and ether, which is a cryptocurrency that is currently the second-largest digital currency after bitcoin. Ethereum has a lot of interesting technical ideas that are defining the future of blockchain technology, and Vitalik is one of the most brilliant people innovating this space today. Subscribe to this YouTube channel or connect on: - Twitter: https://twitter.com/lexfridman - LinkedIn: https://www.linkedin.com/in/lexfridman - Facebook: https://www.facebook.com/lexfridman - Instagram: https://www.instagram.com/lexfridman - Medium: https://medium.com/@lexfridman - Support on Patreon: https://www.patreon.com/lexfridman