Chapter
The Political Power of Bitcoin
29:29 - 35:56 (06:27)
The public key cryptography and the fact that you can encode a Bitcoin private key in 12 words gives it political power, empowering people relative to a despot. However, the fear of self-preservation and the involvement of money can lead to dogmatic behavior from individuals involved in cryptocurrency.
Clips
This episode discusses the importance of Bitcoin's fixed supply and how it prevents unexpected inflation.
29:29 - 31:40 (02:11)
Summary
This episode discusses the importance of Bitcoin's fixed supply and how it prevents unexpected inflation. The schedule for the fixed supply was proposed before the code was made public and everyone agreed to stick to it.
ChapterThe Political Power of Bitcoin
Episode#173 – Nic Carter: Bitcoin Core Values, Layered Scaling, and Blocksize Debates
PodcastLex Fridman Podcast
Bitcoin's cryptographic feature and public key cryptography empowers individuals relative to despots, offering censorship resistance and transactional freedom.
31:40 - 35:56 (04:16)
Summary
Bitcoin's cryptographic feature and public key cryptography empowers individuals relative to despots, offering censorship resistance and transactional freedom. However, the involvement of money and people's life savings in cryptocurrency can be risky.