In this episode, we explore bitcoin skepticism, focusing on topics such as hashrate volatility, potential miner attacks, and Michael Saylor's perspective on bitcoin. Micah provides insights from his bitcoin textbook and uses a chalkboard to clearly illustrate his views on the future of the bitcoin mining industry. We dive into significant issues like transaction censoring and miner collusion, and discuss the potential future risks to bitcoin's cryptographic security.

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TIMESTAMPS:

00:00:00 Intro

00:01:15 Who are you and when did you start thinking about bitcoin?

00:14:30 What do people think about your bitcoin textbook?

00:15:45 Do you own bitcoin?

00:16:38 Do you want bitcoin to succeed?

00:19:55 Is saving bad?

00:20:44 Rent seeking?

00:21:45 Could bitcoin’s hashrate be highly volatile?

00:27:38 What’s the tipping point of hashrate volatility?

00:30:17 Is this hashrate volatility a problem?

00:31:20 Attacking bitcoin

00:35:20 What are the attacks miners might do?

00:39:35 When do you think this type of attack may occur?

00:43:24 MARA transaction censoring failed

00:44:24 What’s the tipping point for miner collusion?

00:45:55 We’ve already seen miner capitulation

00:47:30 Bitcoin price vs value?

00:48:00 Will the price of bitcoin keep going up?

00:48:16 Thoughts on Michael Saylor?

00:50:13 Any risk of cryptography breaking?

00:51:40 Closing thoughts

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