Why Bitcoin is 1000x Bigger than Digital Gold with Aaron Segal

One of the most important yet double edge narratives out there is “Bitcoin is Digital Gold” because there is a finite amount that is brought into circulation over time by mining. On this very special Bitcoin Magazine Podcast, CK sits down with Aaron Segal, investor, Bitcoin thinker, and writer. Aaron’s first contribution to Bitcoin Magazine was one for the ages. CK read the article and immediately got back to Aaron asking for an interview. CK believes that Bitcoin is much better than gold ever was and to simply describe is as gold on the internet does not do the revolution that is Bitcoin justice. 

Enter Bitcoin Information Theory (BIT) by Aaron Segal. Aaron’s article frames Bitcoin in a completely different way. Rather than focusing on Digital Gold, Segal hones in on the fact that a Bitcoin standard would end monetary uncertainty for 100% of the planet. What does ending monetary uncertainty mean? Aaron puts it into the contact of the laws of thermodynamics and entropy. Aaron sees that the law of thermodynamics doesn’t take into account advancements in technology, so Aaron created a new formula that does. The basic Idea is that work or energy expenditure to the power of technology minus monetary uncertainty equals information. The formula is written out below, and Aaron elaborates on the details in the show.

TE^(X-ME) = -IE

Please enjoy this eye opening conversation with Aaron Segal. 

Follow Aaron @LudiMagistR

Read his article here: https://bitcoinmagazine.com/culture/bitcoin-information-theory-bit

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