Chapter
Bitcoin Enables Social Scalability
1:00:25 - 1:06:25 (06:00)
Bitcoin allows individuals who may never see each other again or trust each other to securely transact with each other, not just with money, but also with coded contracts resulting in social scalability.
Clips
Computer scientists and engineers typically focus on optimizing machines for efficiency, but there's potential for decentralization and increased human capability using technology.
1:00:25 - 1:01:49 (01:24)
Summary
Computer scientists and engineers typically focus on optimizing machines for efficiency, but there's potential for decentralization and increased human capability using technology. This contrasts with the flat graph of human capabilities compared to the exponential growth of machine power.
ChapterBitcoin Enables Social Scalability
Episode#244: The Quiet Master of Cryptocurrency -- Nick Szabo
PodcastThe Tim Ferriss Show
The blockchain allows social scalability where strangers can transact securely with complex logic they can code up.
1:01:49 - 1:04:55 (03:06)
Summary
The blockchain allows social scalability where strangers can transact securely with complex logic they can code up. The blockchain computer is slower and more costly than a web server, but the downside risk is high, allowing considerable inefficiency.
ChapterBitcoin Enables Social Scalability
Episode#244: The Quiet Master of Cryptocurrency -- Nick Szabo
PodcastThe Tim Ferriss Show
The use of centralized exchanges to trade cryptocurrencies make them vulnerable to hacks and regulatory measures.
1:04:55 - 1:06:25 (01:30)
Summary
The use of centralized exchanges to trade cryptocurrencies make them vulnerable to hacks and regulatory measures. While the adoption of cryptocurrencies continue to grow, the challenges of regulation and accessibility for everyday use remains.