Bitcoin’s Seven Layers of Security

In this video, Robert Breedlove, host of What Is Money show, interviews Michael Saylor, CEO and Founder of MicroStrategy. They talk about the seven layers of Bitcoin security.

Episode timestamps:

00:00:00 “What is Money?” Intro 
00:00:05 NYDIG 
00:01:23 The Seven Layers of Proof-of-Work Security 
00:04:56 The Beauty of Proof-of-Work 
00:05:27 The First Layer: Energy 
00:09:58 Bitcoin Mining Impact on Global Energy Producers 
00:14:22 A Future Convergence of Bitcoin Miners and Banks? 
00:17:44 Bitcoin Recruits Energy Capital for Self-Defense 
00:19:27 The Second Layer: Technology 
00:20:40 Bitcoin Recruits Semiconductor Capital for Self-Defense 
00:22:20 Rotating from Energy to Technology Intensive Security 
00:27:45 Patterns of New Bitcoin Miner Deployment 
00:28:50 Miner Hardware Cycles and Bitcoin Hash Rate 
00:31:30 Game Theory of Entering the Bitcoin Mining Network 
00:33:58 The Third Layer: Political 
00:35:12 The Political Game Theory of Bitcoin Mining 
00:37:08 Bitcoin Mining as a Political Lobbying Network 
00:39:12 “100 Megawatts is Worth $300M per Year” 
00:40:10 A Self-Distributing, Dynamic Mining Network 
00:43:02 “The Market Generally Outsmarts the Smartest Person” 
00:43:57 An Energetic, Technological, and Political Shock-Absorber 00:47:57 Robert’s Outro

The episode premiered on October 5, 2021.