Debating The Nature of Bitcoin? w/ Karim Helmy - Bitcoin Magazine Podcast

Karim Helmy of Galaxy Digital comes on to the Bitcoin Magazine Podcast to discuss one of the most interesting and deep conversations in Bitcoin. Karim has a rich history studying the Bitcoin blockchain and is an expert in mining in particular. Host Christian Keroles has very strong views into what Bitcoin is and some of them are counter to what Karim believes. Rather than debating over Twitter Christian invited Karim to join and discuss what Bitcoin really is.

Christian takes the position that ultimately bitcoin is a network of geographically distributed and computers maintaining constant consensus. Karim takes the position that while that does exist, ultimately it is the people and agreement from people that defines what Bitcoin is. This is a very nuanced debate and is at the route of many other philosophical and design disagreements in the greater crypto space.

Bitcoiners, what do you think? Is Bitcoin defined by hardware and software or by humans or by something else entirely? Tweet at CK, Karim, and Bitcoin Magazine with your take on what Bitcoin really is.

Follow Karim on Twitter: @karimhelpme
Follow CK on Twitter: @ck_SNARKs

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Timestamps:

0:00 - 2:33 Intro
2:33 - 4:18 Karim introduces himself
4:18 - 7:51 What defines bitcoin?
7:51 - 11:05 Bitcoin governance and the possibility of a hard fork
11:05 - 15:29 The evolution of coordination in bitcoin
15:29 - 19:47 Can the social contract of bitcoin change?
19:47 - 21:43 Bitcoin 2022
21:43 - 22:59 The Deep Dive
22:59 - 26:13 Is there need for consensus beyond the physical hardware?
26:13 - 29:50 The possibility of an existential crisis with the physical network
29:50 - 31:18 Would a fork of BTC or an alt-coin succeed in an existential crisis with the bitcoin network?
31:18 - 33:48 The health of the bitcoin network today
33:48 - 34:44 Holding thre majority of your wealth in bitcoin
34:44 - 36:28 It's a great time to be in the bitcoin industry
36:28 - 39:22 Is this bull run over?
39:22 - 42:25 Bitcoin mining in China
42:25 - 43:20 How to follow Bitcoin Magazine's content
43:20 - 44:58 Signs of hash rate moving
44:58 - 48:35 The end state of hash rate being distributed
48:35 - 53:06 How important is proof of work mining for the future of energy production?
53:06 - 54:18 Bitcoin is becoming more decentralized on the hardware manufacturer level
54:18 - 55:28 Closing comments

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