Read_647 - Understanding Decentralization in Bitcoin [Arman the Parman]

August 30, 2022 00:40:11
Read_647 - Understanding Decentralization in Bitcoin [Arman the Parman]
Bitcoin Audible
Read_647 - Understanding Decentralization in Bitcoin [Arman the Parman]

Aug 30 2022 | 00:40:11

/

Hosted By

Guy Swann

Show Notes

"The answer that matters depends on the context. The context you need to have is that cryptocurrency, i.e. Bitcoin, was invented/discovered initially to allow a money by the people that cannot be shut down by government. In that context, the most important element to be decentralized is the network of Nodes. -- If the nodes are not decentralized, nothing else decentralized matters. -- If the nodes are decentralized, then the other things kind of matter, but not as much." - Arman the Parman Today we hit a short, but important piece from the Bitcoin Reserve blog that breaks down the context of decentralization, which is what truly matters. There are all types of things we can arbitrarily decentralize, elements of the network, codebase, implementations, etc. But all of these things are secondary to the most critical decentralization, the one that matters, and the one that represents a once-in-a-millenia innovation that will change everything. Without that critical pillar, the decentralization of literally everything else is irrelevant... listen to find out. Link to the original article to check it out, dig deeper into the topics, or read the many other great pieces at Bitcoin reserve: https://bitcoinreserve.com/blog/understanding-decentralization-in-bitcoin# Link to Arman's piece on why you should run a node: https://armantheparman.com/why-should-you-run-your-own-bitcoin-node/ Link to the most important history lesson in Bitcoin: https://www.audible.com/pd/The-Blocksize-War-Audiobook/B096CNVVQC?qid=1661901093&sr=1-1&ref=a_search_c3_lProduct_1_1&pf_rd_p=83218cca-c308-412f-bfcf-90198b687a2f&pf_rd_r=R8K45E4E7Q0D0R8TTHCF Check out our amazing sponsors and the products that Guy uses most in the space: • The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy) COME HANG OUT! Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 10% off with code BITOCINAUDIBLE (https://www.pacificbitcoin.com/) • Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold) • Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! (guyswann.com/coldcard) Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

Other Episodes

Episode

March 10, 2020 00:37:51
Episode Cover

CryptoQuikRead_364 - Bitcoin, The Technology of Dissent [Nozomi Hayase]

"We, Bitcoiners, are all dissidents in the Old World of trusted third parties. [...] Laws of nature that are higher than man-made laws, being...

Listen

Episode

March 30, 2023 01:24:07
Episode Cover

Basics_05 - The Node

Bitcoin is ultimately just a piece of software, the network – the global, censorship resistant, immutable system – is ultimately just a collection of...

Listen

Episode

February 10, 2023 00:58:45
Episode Cover

Basics_02 - Hashes & Proofs of Work

In order to truly understand why Bitcoin works, we must understand a fundamental tool that operates at basically every level of the system. The...

Listen