BTC098: Proof of Stake (PoS) Versus Proof of Work (PoW) w/ Jason Lowery (Bitcoin Podcast)

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 5 October 2022

⏱️ 126 minutes

🔗️ Recording | iTunes | RSS

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Summary

IN THIS EPISODE, YOU’LL LEARN: 01:58 - Why are property rights an important starting point for understanding the differences between Proof of Work (PoW) and Proof of Stake (PoS)? 07:41 - What is Abstract Power versus Physical Power and why are they important for understanding PoS Vs PoW? 20:45 - Why do the rules around property rights keep breaking down throughout time? 40:45 - Explain the importance of basic computer science and how computer programs work so we can understand the differences in PoS and PoW. 49:50 - A general introduction to PoS and PoW. 57:25 - Hal Finney and Adam Back’s contributions to developing the first blockchain. 01:15:15 - If you were going to exploit a PoS or PoW system, how would that work? 01:23:08 - Creative destruction and how it applies to protocols. 01:31:59 - Jason’s thoughts on Jamie Dimon liking everything but PoW. 01:38:15 - Vitalik Buterin’s comments on PoS not being tethered to physical reality. 01:42:17 - How has the faculty at MIT responds to your research? 01:58:30 - If you had a message to policy makers, what would it be? *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Jason Lowery's Twitter Jason Lowery’s website and writings on Bitcoin. SPONSORS Support our free podcast by supporting our sponsors: Bluehost Fintool PrizePicks Vanta Onramp SimpleMining Fundrise TurboTax Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TI-P.
0:03.0	Hey, everyone. Welcome to this Wednesday's release of the Bitcoin Fundamentals podcast.
0:07.0	On today's show, I have an absolute must-listen conversation with Jason Lowry.
0:12.0	Jason is a master's student at MIT University in conducting research on the national security
0:17.0	implications of proof-of-work blockchain protocols like Bitcoin versus proof-of-stake protocols
0:23.0	like Ethereum.
0:24.0	This is a long conversation, but its importance is unparalleled in my personal opinion.
0:29.0	Although we get to the side-by-side technical differences between proof-of-work and proof-of-stake
0:34.0	near the middle of the interview, I strongly encourage people to listen to the first part of this interview
0:38.0	because it provides important, first-principle ideas for understanding network security.
0:43.0	At the end of the show, I play a couple of clips from various public figures on the topic
0:48.0	of proof-of-work versus proof-of-stake.
0:50.0	And Jason describes in detail why the ideas are noteworthy, misleading, or downright dangerous thinking.
0:57.0	Finally, if you ever have a friend relative or acquaintance ever confront you on the implications
1:02.0	of one protocol's technical security versus the other, I would strongly encourage you to share this particular
1:08.0	episode with that person so they can hear some of the most profound thinking from a security standpoint
1:14.0	on proof-of-work versus proof-of-stake.
1:16.0	With that, here's my interview with Jason Lowry.
1:19.0	You're listening to Bitcoin Fundamentals by the Investors Podcast Network.
1:28.0	Now for your host, Preston Pish.
1:41.0	Hey everyone, welcome to the show.
1:43.0	Like I said in the introduction, I'm here with Jason Lowry.
	...

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