Bitcoin OG UNCOVERS Solution for Bitcoin’s BIGGEST Problem | Andrew Poelstra

Andrew Poelstra returns to discuss Blockstream's historic achievement of launching Simplicity on Liquid's mainnet after nearly a decade of development. Simplicity represents a revolutionary approach to Bitcoin smart contracts, offering formal safety guarantees and arbitrary computational expressiveness while maintaining Bitcoin's core principles of predictable fees and decentralization. Unlike Ethereum's problematic trade-offs, Simplicity enables covenants, vaults, zero-knowledge proof verification, and advanced financial primitives without sacrificing security or creating denial-of-service vectors. Andrew explains how Simplicity HL provides developers with a Rust-like programming experience that compiles down to the mathematically provable Simplicity language, opening new possibilities for DLCs, delegation, and programmable Bitcoin transactions.

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0:00 - Intro
0:11 - "Brief” rundown of simplicity
16:13 - Bitkey & Opportunity Cost
17:51 - Smart contracts on bitcoin vs Etheruem
30:18 - Unchained
30:44 - Why liquid first
51:04 - Dev tools
57:51 - Road to simplicity on bitcoin
1:03:34 - Economic concerns
1:12:15 - Oracle problems and final thoughts

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