Bitcoin is a Black Hole with Harry Sudock - WBD515
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 17 June 2022
⏱️ 67 minutes
🧾️ Download transcript
Summary
Harry Sudock is a Vice President of Strategy at Griid. In this interview, we discuss whether Bitcoin's real innovation is the fusion of Proof of Work and the difficulty adjustment. This enables it to exert a gravitational pull that's disrupting money, assets, technologies and organising structures.
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Bitcoin's impact on society is far exceeding what anyone could have envisioned. While its properties as sound money are well established, the 2nd and 3rd order effects are still being discovered.
Bitcoin is unique. It's centred on the combination of proof of work and the difficulty adjustment. These two fundamental parts of the system incentivise trustless honesty whilst providing security. In today's digital world with encroaching authoritarianism, there is no substitute.
Bitcoin's power is having a gravitational pull on the settled cosmos of modern society, drawing more things into the singularity of its innovation. If money touches everything in society, and Bitcoin is the best form of money, it's seemingly inevitable that Bitcoin will change everything. Bitcoin is a black hole.
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Transcript
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| 0:00.0 | The economy is not a |
| 0:05.0 | is not a combustion engine, where you change a fan belt and it starts or stops. |
| 0:10.0 | The economy is a large complex multivariate emergent social phenomenon. |
| 0:15.0 | And because of that, when you poke one side of bear, you don't know how it's going to react. |
| 0:21.0 | And it's an incredibly volatile and |
| 0:23.3 | incredibly complex in the place to try to play God. And so the best choice is not |
| 0:29.4 | to do it. Hello there, how are you all doing? Welcome to the What Bitcoin did |
| 0:34.2 | podcast which is thought to you by Gemini. The only place I'm using for buying |
| 0:37.9 | Bitcoin. I'm your host Peter McCormack and before we get into today's |
| 0:41.6 | interview I do have a message from my show sponsors. |
| 0:45.0 | This show is brought to you by Karsa. |
| 0:47.0 | Whether you've just bought your first Sats or you're a Bitcoin pro, |
| 0:50.0 | you need to protect your investment. |
| 0:52.0 | And the only person who should be in charge |
| 0:53.6 | your Bitcoin and financial freedom is you and securing your Bitcoin doesn't have to be |
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| 1:18.0 | Take your financial freedom into your own hands |
| 1:20.0 | by self-custered in your Bitcoin |
| 1:22.0 | so it can never be frozen without your |
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