BTC145: Adam Back on Drivechains, Mining Hardware, & L1 scaling w/ James Macedonio (Bitcoin Podcast)

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

Stig Brodersen

Business, Education, Investing

4.6 • 3.6K Ratings

🗓️ 30 August 2023

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

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Summary

Preston Pysh brings Blockstream's Adam Back and James Macedonio to the show. They talk about Blockstream’s efforts to develop their very own ASIC miner and what it takes to take something like that to market and all the challenges that are associated with it. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:23 - Why is building an ASIC like building a high-performance race car? 10:02 - How do you think through production and reliability when building an ASIC? 10:02 - How can one test the reliability of an ASIC when its actual performance is always on? 15:05 - Why is there so much inventory of ASICs on the market right now? 24:29 - What is the Blockstream BASIC note? 24:29 - What was the performance of the previous Blockstream Mining Note and how is it different than the BASIC? 41:35 - Some people say layer 1 bitcoin might become too costly and layer 2 can't scale, what are your thoughts? 46:19 - What is Adam's thoughts on drivechains? 56:49 - Are there other blockchains that have experimented with OP CATs that were originally coded into Bitcoin but now are turned-off for safety reasons? 01:06:51 - Do we even need more scripting on layer 1 for Bitcoin to solve "clown world"? 01:08:02 - Are engineers being reasonable with the speed at which they want to roll-out updates? BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Adam Back's Twitter. Information about the Blockstream BASIC note. Information about the Blockstream ASIC they are building. Information about Drivechains on Bitcoin. Related episode: Listen to BTC054: A Sovereign Bitcoin Bond in El Salvador w/ Adam Back & Samson Mow, or watch the video. Related episode: Listen to BTC040: Bitcoin ASIC Manufacturing by Blockstream w/ Adam Back & Samson Mow, or watch the video. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Range Rover Briggs & Riley American Express The Bitcoin Way Public Onramp USPS SimpleMining Sound Advisory Shopify AT&T BAM Capital 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 TIP.
0:03.0	Hey everyone, welcome to this Wednesday's release of the Bitcoin Fundamentals podcast.
0:07.2	On today's show, I have CEO and founder Adam Beck, who's a Bitcoin OG and cryptographic
0:12.7	expert.
0:13.7	He's the inventor of proof of work and also referenced in the Bitcoin white paper.
0:18.4	He's joined by fellow blockstream employee James Macedonio, and we cover a very wide range
0:23.7	of topics during this interview.
0:25.5	First, we start off talking about blockstream's efforts to develop their very own ASIC
0:29.6	minor and what it takes to take something like that to market and all the challenges
0:33.8	that are associated with it.
0:35.6	Next, we talk about the abundance of minors that are currently on the market and how
0:39.5	infrastructure lag is actually causing this abundance of supply that we're currently seeing.
0:44.9	Finally, we talk about the hotly debated potential Bitcoin upgrade called drive chains,
0:50.2	um personally not a big fan of drive chains, and Adam is a little bit more open to the
0:54.0	idea.
0:55.0	So this was a good opportunity to present the various arguments around the topic.
0:59.4	So with that, here's my interview with the ever thoughtful Adam Beck and James Macedonio.
1:07.0	You're listening to Bitcoin Fundamentals by the Investors Podcast Network.
1:13.6	Now for your host Preston Pish.
1:26.6	Hey, everyone.
1:27.6	Welcome to the show.
1:28.6	Excited to have Adam back back on the show.
	...

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