Nov 11, 2021
In this episode of Bitcoin Spaces Live, host Christian Keroles (@ck_snarks) is joined by Aaron Segal (@LudiMagistr) to discuss his article for Bitcoin Magazine titled "Bitcoin Information Theory: B.I.T.". Aaron explains how entropy is closely related to money and how Bitcoin as information is ultimately a reduction of entropy. This is an extremely enlightening discussion, as Aaron applies the laws of thermodynamics to explain the monetary phenomenon that is Bitcoin.
Other speakers include Guy Swann (@TheGuySwann), Mark Goodwin(@markgoodw_in), and Bitcoin TINA @BitcoinTINA
0:00 Opening remarks and information on Bitcoin 2022!
1:52 An introduction to Aaron Segal's first article for Bitcoin Magazine on Bitcoin Information Theory.
12:22 The fundamental concepts that underpin our decision-making processes.
21:50 Understanding inefficiency in this context, and the compound effect of systemic issues.
23:46 The relationship between humans and their environment; negative impacts of the banking systems.
32:22 How the growth of Bitcoin and decentralization can combat monetary entropy.
39:49 Long-term declines in productivity; Aaron breaks down the trend and statistics.
54:38 The pitfalls of an inflationary approach towards Bitcoin.
1:00:00 Innovation and error correction; how things may look in a Bitcoin standard world!
1:13:43 Creating and cementing this important mental model as a starting point to explore these theories.
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