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BTC238: Bitcoin 101 w/ Michael Schmid (Bitcoin Podcast)
Episode 1046
Michael and Preston explore Bitcoin's foundational principles, covering digital scarcity, mining incentives, node infrastructure, and the importance of self-custody versus third-party management.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
12:13 - How Bitcoin prevents government-led currency debasement
19:14 - Why block reorganizations occur and how they're resolved
23:11 - The mechanics of block creation and transaction verification
28:55 - What makes Bitcoin a secure and decentralized timekeeper
31:13 - The economic incentives behind Bitcoin mining
33:54- The role of transaction fees as block subsidies decline
37:01 - How Bitcoin's security model addresses hack concerns
41:05 - How self-custody empowers users and mitigates risks
50:02 - Differences between running a node and mining
1:00:04 - Innovations in node infrastructure from the 256 Foundation
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Michael’s X Account.
- Website: Nakamoto Heating Solutions.
- Website: 256 foundation.
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Published on 6 months, 3 weeks ago