BTC140: Game Theory and Bitcoin w/ Scott Lindberg (Bitcoin Podcast)

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

Stig Brodersen

Business, Education, Investing

4.6 • 3.6K Ratings

🗓️ 26 July 2023

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

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Summary

One of the most important topics in Bitcoin is this idea of game theory and the mutually reinforcing incentives to keep the entire network balanced and beneficial to all participants. Preston Pysh and Scott Lindberg cover all sorts of interesting ideas around Bitcoin’s overall game theory on today's episode. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 02:30 - An overview of Game Theory. 12:53 - The critical difference between infinite and finite games. 23:21 - What Satoshi had to consider when designing Bitcoin from the start. 38:04 - What are some of Scott's favorite game theory aspects found in Bitcoin? 42:51 - How Scott designed a playable game around Bitcoin. 46:27 - The iteration process for designing games that are playable and balanced. 56:19 - How game designers account for skilled players playing a game with unskilled players. 01:03:28 - What Volatility does to a games design. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Hodl-Up Game. Scott's Company: Free Market Kids. Scott's book that accompanies the Hodl-up Game. Scott's Twitter. Scott's Nostr. Scott's Book Recommendation: The Infinite Game. Preston's Book Recommendation: The Characteristic of Games. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Range Rover Fundrise AT&T The Bitcoin Way USPS American Express Onramp SimpleMining Public Vacasa Shopify 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.
0:07.5	So one of the most important topics in Bitcoin is this idea of Game Theory and the mutually
0:12.5	reinforcing incentives to keep the entire network balanced and beneficial to all participants.
0:18.3	Despite this paramount concept, I don't think I've ever dedicated an entire show to the
0:22.8	idea of Game Theory, and as a result, there's no better guess than Mr. Scott Lindbergh to
0:28.1	come and cover the topic.
0:30.1	Scott has an MBA from Yale and undergrad in engineering from West Point and is the founder
0:34.8	of the company called Free Market Kids, which is a company dedicated to producing educational
0:40.1	tabletop games for families to play.
0:43.2	During the show, we cover all sorts of interesting ideas around Bitcoin's overall game theory,
0:48.4	and then tools that game designers use to balance control, skill, and time within a game.
0:55.2	This is a really fun and interesting chat that you won't want to miss, so with that,
1:00.0	here's my chat with the thoughtful Scott Lindbergh.
1:06.3	You're listening to Bitcoin Fundamentals by the Investors Podcast Network.
1:11.8	Now for your host, Preston Pish.
1:24.0	Hey, everyone.
1:25.3	Welcome to the show.
1:26.3	I'm here with Scott.
1:27.8	Scott, we've been chatting for since May, really.
1:30.8	That was when we first met.
1:32.0	We didn't know each other.
	...

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