The "What is Money?" Show

A Future with Bitcoin Mining in Every Home? with John Stefanopoulos (WiM380)

Episode Summary

John Stefanopoulos joins me to discuss the future of Bitcoin mining and why its decentralization is important, running a full node, and how miners protect the Bitcoin network.

Episode Notes

John Stefanopoulos joins me to discuss the future of Bitcoin mining and why its decentralization is important, running a full node, and how miners protect the Bitcoin network. 

John Stefanopoulos is the CEO and Founder of FutureBit.

// GUEST // 
Twitter: https://twitter.com/JStefanop1
Website: https://www.futurebit.io/

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// OUTLINE //
00:00:00 - Coming up
00:00:34 - Intro
00:02:07 - Helping Lightning Startups with In Wolf's Clothing
00:02:54 - Introducing John Stefanopoulos
00:03:19 - Genesis of FutureBit
00:07:55 - Bitcoin Mining: ASIC, USB Miner, and Full Node
00:09:38 - What is Hash?
00:11:28 - Understanding Bitcoin
00:14:10 - Defining ASICs
00:16:56 - Centralized Market of ASIC Hardware
00:18:18 - Significance of Hashrate
00:21:31 - Ways to Incentivize People into Bitcoin
00:22:48 - Run Your Business From Anywhere with NetSuite
00:23:53 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet
00:24:49 - What is a Full Node?
00:27:13 - Incentives for Running a Full Node
00:29:44 - A Quick Recap
00:31:57 - Decentralization Issue of Bitcoin
00:36:03 - What is a Mempool?
00:39:39 - Censorship Resistance Issue with Bitcoin Mining
00:41:55 - The Power of Numbers
00:45:02 - Take Control of Your Healthcare with CrowdHealth
00:46:04 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet
00:46:56 - What is a Mining Pool?
00:50:25 - Centralization of Mining Pools
00:52:42 - Future of Bitcoin Mining
00:59:04 - The Mainframe Moment for Bitcoin Mining
01:01:18 - More Miners, Better Network
01:02:59 - Where to Find John on the Internet

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