The Battle for Bitcoin with Bitcoin Mechanic

Рет қаралды 25,790

Күн бұрын

SHOW NOTES:
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“It’s not a game, Bitcoin is life and death for billions of people and there is no one in Venezuela that’s excited about cats on the freakin’ chain; this is a mockery of the seriousness of what people are trying to do here.”
- Bitcoin Mechanic
Bitcoin Mechanic is a Bitcoin educator and Chief Boiling Officer at OCEAN. In this interview, we discuss the issues with arbitrary data on the Bitcoin blockchain, if filters can work as well as OCEAN mining pool and the need for greater decentralisation in mining.
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TIMESTAMPS:
00:00:00 Introduction
00:15:00 Data on blockchain & incentives
00:32:18 Blockspace battle; coin control
00:53:29 Spam, bugs; filtering; fungibility
01:15:24 Miner templates, payouts, & transparency
01:35:51 Beating spam, fees, & scaling
01:49:01 Nodes, decentralisation, dev, & culture
02:08:06 Bitcoin mission
02:29:20 Covenants, scaling, & antifragility
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#Bitcoin #Finance #Economics

Пікірлер: 196

@ben65168 3 ай бұрын

Such a good show. And a great example of how the right guest can make 3 hours fly by. Shout out to Mechanic for being able to handle multiple ideas and opinions at the same time, managing some strong principles with pragmatic acceptance of some realities of how people use Bitcoin. I'm appreciative that he can be quite respectful of smart people who strongly disagree with him, while clearly having done a lot of thought about where he's drawing lines in the sand.

@5280ryan 3 ай бұрын

BitcoinMechanic is one of the greatest Bitcoiners of all time imo. Great show guys.

@TheMonkeyHat 3 ай бұрын

He’s a møron.

@jackwheeler5218 2 ай бұрын

@@21SpielSatsSieg21grass fed bitcoin my dude

@HowardARoark 19 күн бұрын

Defo.

@rwelch76 3 ай бұрын

Appreciate how you always get RIGHT into the interview and don’t start out with 5 min of ads or start and immediately interrupt with an ad. Fantastic episode!

@lukeouk 3 ай бұрын

Of all the 100s of podcasts and interviews I’ve watched recently, this is by far the most engaging. Right balance of technical and social detail for the WBD viewer. I came into this very much on the “if it’s a valid transaction, then let it go” but this discussion has totally changed my mind and I’m firmly in the mechanics camp. Great podcast.

@shonuff4855 3 ай бұрын

Same. Had that view until this episode. Now am totally for proactively fixing/opposing it.

@richardray7976 3 ай бұрын

Loved the early language metaphor. Very nice way of describing decentralization.

@alexanderg9670 3 ай бұрын

Bitcoin was invented after electricity, computer and the Internet, so it leverages these three, but in principle a version of Bitcoin is possible without them. It's truly a language

@seandarrah828 3 ай бұрын

Thank you, Ocean for being a Vanguard of moral principles!

@LEDit0ut 3 ай бұрын

I'm only 7 min in and this is the best description of what bitcoin is. I'm blown away.

@grandadbitcoin475 3 ай бұрын

Have to learn how to operate a node now. Great podcast, thank you.

@clint9470 3 ай бұрын

One of the most knowledgeable guests on the show and one of Pete's best interviews. 👌

@TheMonkeyHat 3 ай бұрын

LOL, No 😂

@elmeriniemela444 3 ай бұрын

Best episode so far. Please make more long and in-depth podcasts. 3 hours is a good target (same as rogan).

@truegent68 3 ай бұрын

exactly, I really think this episode has just changed my life

@ChristianPecksteiner 3 ай бұрын

Love this guy! Pls bring more of him. 🧡

@dzejkobT3 3 ай бұрын

might be the best WBD episode ever recorded. this is incredible knowledge and philosophical pill - YET!

@hjo1620 3 ай бұрын

Zawinski's Law, states: "Every program attempts to expand until it can read mail. Those programs which cannot so expand are replaced by ones which can." Every technical system must be protected by a "negative definition" of what it NOT is. Without a negative definition, software grows in complexity and add on more features over time, making it stray from its original purpose or core functionality.

@ifh4030 3 ай бұрын

Thank you for this. I started out anti ordinals and then over time became ambivalent. Now I feel like I understand the impact of ordinals much better and see them as a legitimate threat that must be confronted vigorously.

@zachsawatzky1 3 ай бұрын

I really appreciate Mechanics role and influence on behalf of the sounded monetary system the world has any record of. 🙌

@MothershipVR 3 ай бұрын

Ocean is more than just filters. Transparency is objectively more important

@edgewoodmodern780 3 ай бұрын

Pure signal. One of my favourite bitcoiners

@P__114 3 ай бұрын

“Whoever is talking about it always has an ordinal to sell you”. So, so true! Dan Held is a prime example. Totally sold out.

@funmiogunkoya1828 3 ай бұрын

Yes, "Held" "L'Claire" (Spelling) and "Rizzo" - I thought I had regard for them, till now.

@mc-kz8zn 3 ай бұрын

Really appreciated this pod WBD, so much to think about. It was a bit tangent-y, and I think way beyond anything new bitcoiners would understand, but interesting to hear his perspective. It gets back to the fundamental root of what bitcoin is - too many gloss over this which could lead to a slippery slope of negative unintended consequences in the long run. Thanks for going into such depth.

@FrancescoGatti 3 ай бұрын

love the integrity of this guy

@richardray7976 3 ай бұрын

Excellent discussion.

@Cronus6 3 ай бұрын

This may be the best and important interview you've done on this show.

@truegent68 3 ай бұрын

I'd go further and say this is the best interview by anyone ever!

@seangrandillo 3 ай бұрын

Yes to this length, especially with this level of incredible conversation. Top 3 episode ever for me

@TheRealDerekS 3 ай бұрын

As soon as Slush pool (braiins) went fpps I was pissed, even though revenue has leveled out I knew in high fee event I'm getting raked. Bob Burnette, mechanic, Luke, etc have all identified Satoshis heel. This is the single most vulnerable attack surface. BTC is not decentralized if 12 entities gatekeep all the miners (hashers) we need real miners, not hash renters. Ocean tides will rise next fee spike. LFG!

@ukkendoka 3 ай бұрын

1:37:05 "it is a good idiot container" LOL quote of the interview

@haraldclark6206 3 ай бұрын

Brilliant conversation! Bitcoin Mechanic is very clear, and I agree with pretty much everything he says.

@realcyberghost 3 ай бұрын

Andreas is still the OG GOAT

@LouSaidSo 3 ай бұрын

Awesome interview! BitcoinMechanic is so well spoken on this topic. I've moved from ambivalent to this side of the camp. Pointed my hash at Ocean. Jump on in, the water's fine! 🌊🌊🌊🌊🌊🌊

@neversaygoodbyeMBV 3 ай бұрын

Great episode. Saw it was 3hrs long and smiled.

@kristopheradams782 3 ай бұрын

Bitcoin has programmed him to realise that you can’t have credit (paper bitcoin) on top of bitcoin! Great episode!

@schlemmermaul5224 3 ай бұрын

Mechanic is a true intellectual!

@GISNEMA 3 ай бұрын

Really good episode...some things went way over my head and definitely need to get back to, to get a better understanding, but I love the fact that he is a "stand your ground no play game guy" with regards to the true need for bitcoin for the people. Some serious stuff! Thanks guys.

@CC-md5jp 3 ай бұрын

Knowledgeable guest and good show 🤟

@TM-456ii 3 ай бұрын

That was great. Maybe the best ever WBD episode.

@pamorim01 3 ай бұрын

Usually not so keen on your show when you have more technical guests, but this was exceptionally good 👌

@imguitar 3 ай бұрын

This guy orange pilled me

@pamorim01 3 ай бұрын

He would have orange-pilled me as well for sure, if I wasn't already orange-pilled 😅

@Dasrecord 3 ай бұрын

great work by the legendary bitcoin mechanic

@Boris247 3 ай бұрын

Thank you for the interview!

@Mixail747 3 ай бұрын

Enjoyed the simple talks on complicated matters!

@timsmig8809 3 ай бұрын

What a fantastic interview! I love the passion and knowledge of Bitcoin Mechanic. Peter & Danny only added to the enthusiasm. you guys did great! I could have listened to you all for another 3 hours. Keep up the good interviews. /Tim

@vonbotteicher4377 2 ай бұрын

It's ok to have some technical podcasts. Some people who understand Bitcoin still check in on the show.

@MeZoo9900 3 ай бұрын

Really good reasoning. Thank you.

@Dave-ur5ui 3 ай бұрын

Best episode ever. Well done!

@edgarc98 3 ай бұрын

By far the most impressive table. Well done.

@dcrickert2 3 ай бұрын

This topic reminds me of a certain movie based on a book, William Gibson’s : Johnny Mnemonic Similar in many regards, mainly on the sovereignty of choosing what data you are going to actually control, and the outcomes of that, based on a primarily fiscal self “needs” rather than network “essential Expectations ” (network’s core value) If anyone hasn’t seen this, it’s worth checking out. “Technology always drives Ideology, ideology will always be in the Passenger seat” - William Gibson This quote always grounds me, and solidifies for me that the Monetary Technology that is Bitcoin will come against so many “threats” but… What is Inevitable is not necessarily imminent. - Fantastic podcast episode Peter, this certainly deepened my understanding. 🙏

@ben_3256 3 ай бұрын

stellar interview, pete.

@matthewciancarelli8583 3 ай бұрын

great episode. thank you for sharing.

@TopShelfMontana 3 ай бұрын

wow... amazing podcast. He's changed my mind

@jinglebobfece4d8booglestra34 3 ай бұрын

2:48:30 'You can always withdraw from coinbase to a UTXO stops them from FRACTIONALLY RESERVING' What happens when no normal person can afford the fees to exercise this option?

@shonuff4855 3 ай бұрын

Welcome to the biggest problem in Bitcoin that is trying to be solved. But even if it can't be, the bigger money, which is most the money, will be able to retreat to base layer if it means saving their entire funds and that would still keep this in check.

@shonuff4855 3 ай бұрын

Liquid will always be a good option for people who can't afford utxo. And liquid can't be inflated. It's very early, there will be solutions I believe.

@keviliciousatyourservice9510 3 ай бұрын

This was an enjoyable conversation, to watch. Two normal, smart Englishmen, discussing something of extreme complexity, and that is at the center of what matters and what will matter more, as a normal and fair conversation. Thank you both :)

@ce5983 3 ай бұрын

such an important conversation, learned a lot about the state of bitcoin thanks

@leewright9614 3 ай бұрын

Great show please bring him back again

@jackwatts5204 3 ай бұрын

Best show in a while.

@F1END.MEGALITHIC 3 ай бұрын

Great episode!

@patricklewis3650 3 ай бұрын

This was awesome. Great guest.

@mojojo.md. 3 ай бұрын

great show

@andy-ec8xv 3 ай бұрын

Badass, eloquent and correct.

@adriannemacdonald1642 3 ай бұрын

I was today years old when I learned that I should think about which coins I use

@flowwesterly6136 3 ай бұрын

This guy us truly brilliant, absolutely love him! Decent principled human being! I will be following! Thanks for having him on.

@bitcoinomic 3 ай бұрын

Excellent interview. Blockchain bloat is the attack

@shonuff4855 3 ай бұрын

So glad I watched this episode. I am now for proactively fixing the spam problem.

@Phateau 3 ай бұрын

Awesome guest

@laotouthinking9090 3 ай бұрын

good talk!

@alexanderg9670 3 ай бұрын

Bigger blocks is the most elegant solution to the problem of preserving self-custody with minimal risks to decentralization. Cumulative size of all simple transfers on open blockchains is probably less than 4MB/10 min right now. Hobbyist node runners can certainly afford it. Especially with the scheme of full sync on HDD, calculating UTXO set and then putting that HDD in an archive and running further chain on HDD/SSD

@IVIagicful 3 ай бұрын

Tell me you're priviliged in a western country without telling me. Go eff yourself with the "you could easily afford" it BS, we have dealt with you, and you're just salty that your big block coins are worth nothing. But you can still try, you know honey? Just not on the OG chain you're desperately trying to hijack.

@mnewlyn 3 ай бұрын

Oh man, I'm only 4 minutes in and Mechanic is pounding - what a guy!

@artnsoundSP 3 ай бұрын

This one is eyes opening

@joshc255 3 ай бұрын

Large portions of that... I didn't understand.

@MrChuckomatic 3 ай бұрын

Great guest

@ConorChepenik 3 ай бұрын

good ep

@chadshue924 3 ай бұрын

Great guests. Everytime.

@funmiogunkoya1828 3 ай бұрын

In my non-expert wisdom on this topic. What I notice is a lot of people are concentrated on building some "Advanced Alien Technology" on Bitcoin (Possibly other Shitcoins) - than actually just building the most fairest money mankind has ever seen. Maybe with the end goal of having their names in lights across the sky or something. I don't know. I Just LOVE this Episode. Thanks Pete, Danny and Mechanic - from one Brit to another.

@jcantonelli1 3 ай бұрын

Great interview - WBD at its best.

@shifu9276 3 ай бұрын

That fact that Pete can have such deep conversations yet doesn’t understand coin control is wild.

@WhatBitcoinDid 3 ай бұрын

I understand coin control, I just don't do it.

@alexanderg9670 3 ай бұрын

Well, a wallet failed its job if default coin control is bad. All the technical stuff will collapse under the hood. Teenager can drive a car, grandma can send email, everyone will use Bitcoin. Question is: which wallet

@gunnarpoker2827 3 ай бұрын

even if he didn't...someone's understanding of one very particular subject doesn't really have any bearing on their thoughts on other topics regardless of how deep

@grandadbitcoin475 3 ай бұрын

Agree - bravo Pete

@shifu9276 3 ай бұрын

I would figure that if someone understood it they would use it and not suggest that no one does that, or we want someone else to deal with that for us, but then also complain when fees get high. Or complaining that “we’ve lost something with bitcoin”, but then also wanting everything possible to dumb down bitcoin anyway because “don’t make me think” seems idk, contradictory and lazy 🤷

@TheRealDerekS 3 ай бұрын

Where are you guys recording at?! The Sultan of Dubai? The house that Satoshi built?

@Conza 2 ай бұрын

Excellent gents.

@BitcoinGladiator 3 ай бұрын

Here's your analogy for freedom. In order to be free you have to be able to have a choice. If there are no fences / rules then there is no choice.

@BrettHiley 3 ай бұрын

Great Words - Thanks for sharing..... #OceanMining

@woawh5616 3 ай бұрын

wow that is a BIG table...

@HowardARoark 19 күн бұрын

Great point he made about all the conflicts that Bitcoin has been through making it strong. Indeed Bitcoin has been in a perpetual state of war for its entire existence and will continue to be. As Casey Rodarmor says this is money and bad things are going to happen.

@twcarrico 3 ай бұрын

Congrats to both you and Danny! I knew eventually you would get it. The mission is separate money from central control and give individuals the opportunity to store their energy (work).

@twcarrico 3 ай бұрын

And freely trade their energy.

@user-mi6qr6jh1f 2 ай бұрын

What a great guest, I never heard him before

@siddg1463 3 ай бұрын

❤ FANTASTIC! Great! Informative interview! What a load of important info for us newbies that are diving deeper into understanding Bitcoin mechanics! 👏🏼👏🏼❤

@Pummelpuffpuff 3 ай бұрын

excellent

@apc4884 3 ай бұрын

2:14:30 absolutely agree

@billcarino1188 3 ай бұрын

Clarified to me what Bitcoin is…Money. The importance of nodes and transactions only, nothing else on the block that isn’t money. Thanks

@temrendemirbolat2994 3 ай бұрын

Love that he speaks close into the mic. Feels like Bitcoins ASMR

@kr1schan8906 3 ай бұрын

Hard not to take the side of a person who is not wearing a wizzard hat, shouting as a 6 year old and trying to sell you junk. That said - making sense is the key factor here. Not too tech savy and reletivly new to bitcoin (2021) but I can easily understand the moral and the danger side of this side of crypto becoming a part of bitcoin however small

@weegieboard8432 3 ай бұрын

never heard of the dude, captivating though. new fan

@rwess 3 ай бұрын

Damn it! - Mechanic and Vortex are right, and fighting the good fight. Period. Get the scammers and spammers out of the protocol...

@realcyberghost 3 ай бұрын

Hot damn, Mechanic convinced me, gonna run Knots now 😎

@davidcooper4327 3 ай бұрын

I see rare sats as essentially coin collecting. People collect bank notes based on serial numbers and age don't they?

@TopShelfMontana 3 ай бұрын

coins are physically verifiable. rare sats are not enforced by the bitcoin blockchain they are just some piece of software's interpretation of what a sat is.

@davidcooper4327 3 ай бұрын

@@TopShelfMontana So, I guess the difference is that the ordinal "serial numbers" are open to interpretation. Did I hear correctly that the "interpretation" has been changed a couple of times already? If so, that's hilarious.

@nick-oi1xf 2 ай бұрын

@@davidcooper4327What a "rare sat" is up to Casey Rodarmor 😂

@jackwheeler5218 2 ай бұрын

Listening to this for the fourth time

@beyondbonesjax 3 ай бұрын

Great show… so for all the HODLers out there who align with keeping BTC pure, but have no technical knowledge or resources to combat the spam attacks, what can we do? Where and how can we show support?

@zoleeeagle9339 3 ай бұрын

Someone who just hold btc on a cold storage device, and not willing to sell any time soon, do they still need to run their own "node"?

@pixiesean999 3 ай бұрын

If Bitcoin is money for enemies, it has to be money for enemies inside the network. If it's breakable, it will be broken. If it's as anti-fragile as we say, then this won't matter in the long run. Either it's tick tock next block, or we're Eth v.0

@laotouthinking9090 3 ай бұрын

OK I agree with what Bitcoin Mechanic says.... but what can we do from here? How to protect Bitcoin's integrity long term? What can be done about Ordinals from this point onwards?

@etismyname 2 ай бұрын

Enjoyed the podcast. UTXO management needs to get easier, and not just about education. Using money needs to be simple. It shouldn't have so much implications for a normal transfer. Otherwise it's just hindering the medium of exchange features, and huge privacy issue.

@bayc8855 3 ай бұрын

I’ve lost count of how many times he contradicted himself 🤣

@jitanforcier3598 3 ай бұрын

I’m glad some people out there are fighting against ordinals. Feel kinda powerless against em

@BitcoinMotorist 3 ай бұрын

Awesome interview to listen to whilst taking a break from Twitter madness

@truthmonster3290 3 ай бұрын

The results of high fee advocates like your friend Tone ostracizing anyone who understands basic economics are in. Mocking the Libertarians who were trying to explain money to you led us to this point. We tried to explain Peer to Peer Cash needs LOW fees. Instead of immediately understanding something that should go without saying in the first place, you fought us! You kept the blocks small and allowed anything to get in. Not too bright. Bitcoin is an Austrian concept. Listen to the Austrians. Socialism is the problem that created the need for Bitcoin.