Summary of Bitcoin, Proof of Work, and The Future of War with Adam Back & Jason Lowery (WIM175)

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00:00:00 - 01:00:00

This video discusses Bitcoin, proof of work, and the future of war. The speakers explain that Bitcoin's proof of work system is a key part of its success, and that this system can be used to combat various types of fraud. They also discuss the history of Bitcoin and how it has been used to combat various types of attacks.

00:00:00 Bitcoin is a digital currency that uses a proof of work system to secure transactions. Adam Back and Jason Lowery discuss the history of hashcash and how it led to the invention of bitcoin. Swan Private provides concierge services to help high net worth individuals and businesses secure their wealth with bitcoin.
00:05:00 The video discusses Bitcoin, proof of work, and the future of war. The author discusses how a birthday collision could be used to create a fraudulent digital currency, and how this concept could be used to create a decentralized electronic cash system.
00:10:00 The video discusses the concept of a collision in cryptography, and how it can be used to find two people with the same birthday. The counterintuitive result is due to the high number of possible combinations in the population. The efficiency of the algorithm is improved by removing the memory requirement.
00:15:00 In this video, Adam Back and Jason Lowery discuss Bitcoin and its Proof-of-Work scheme. They note that Bitcoin is up in the mid 70s to 80s in terms of value, and that the difficulty adjustment mechanism is designed to prevent spamming. They also discuss the concept of weak keys and how giving the attacker choices can lead to vulnerabilities.
00:20:00 Bitcoin is a digital currency that uses a cryptographic proof-of-work system to protect it from being double spent. The video discusses the importance of creating a cost function that is trapdoor free, and explains that this is why the Bitcoin network requires random number guessing in order to secure it.
00:25:00 Bitcoin, Proof of Work, and the future of war are discussed in this video. Adam Back and Jason Lowery explain that most protocols involve two participants, a challenger and a responder, and that a trapdoor function could create an asymmetry in which one party has an advantage. The Ralph Merkle paper, published in 1978, is mentioned as an early example of a technology that inspired public key cryptography.
00:30:00 In this video, Adam Back and Jason Lowery talk about the history and economics of Bitcoin, the proof of work algorithm, and the future of war. They note that the proof of work algorithm imposes a cost on someone trying to do an action, and that this cost can be energy, power, or computing resources. They also discuss how this cost can be used to combat various types of fraud, including click fraud and clip fraud.
00:35:00 Bitcoin, proof of work, and the future of war are discussed in this YouTube video. The cost of clicking fraud is part of the thought process behind the development of spam proofs. The problem with the challenge function protocol is that it is vulnerable to systematic abuse or exploitation. The practical implications of this work are discussed.
00:40:00 In this video, Adam Back and Jason Lowery discuss Bitcoin, proof of work, and the future of war. They argue that the hash function is crucial to Bitcoin's security and that other implementations of electronic cash are not as robust. They also discuss the tenelli shanks algorithm, which is random but not secure.
00:45:00 The video discusses Bitcoin, proof of work, and the future of war. Bitcoin's algorithm is more secure and efficient than other schemes, and proof of work is rooted in thermodynamics. This innovation was not realized until the invention of Bitcoin.
00:50:00 Bitcoin's proof of work system is a new key part of its success, and it was difficult to make it work in a decentralized way. However, the missing ingredient was a way to adjust the difficulty to make sure it took the right amount of work to create new coins. Nick Sabo and Wade I. Miller created two different proof of work protocols that used hashcash, but they were not actually implementable because they lacked a way to adjust the difficulty. Bitcoin solved this problem by saying that the protocol would control the rate of supply and the market would determine the value of coins. Over time, the market has been able to track the coins fairly well, and the economics has also worked in favor of the currency.
00:55:00 Bitcoin was designed with flaws, and its price is not continuous or predictable. However, its use as a mechanism for implementing a cost on belligerent activity, such as denial service attacks, email spam, and cyberattacks, has been recognized and is being explored.

01:00:00 - 02:00:00

This video discusses the potential implications of bitcoin on the future of war. It argues that, if properly implemented, bitcoin could lead to the reduction of the need for hard war.

01:00:00 In this video, Adam Back and Jason Lowery discuss Bitcoin, proof of work, and the future of war. They argue that Bitcoin's mechanism for charging a prohibitive cost on systemic abuse could be used to defend software from other forms of abuse, including false clicks and people taking advantage of money protocols.
01:05:00 Bitcoin provides a self-enforcing enforcement protocol for transactions, which is difficult to do in a decentralized system.
01:10:00 Bitcoin is a protocol that eliminates the need for a trusted central authority, providing a more egalitarian system for governing rules. Proof of work allows for the decentralized management of a resource, and this system is secure because it is not reliant on a single point of failure.
01:15:00 The video discusses the various aspects of Bitcoin and its security features. It notes that Bitcoin is unique in that it is not reliant on a centralized authority, and that this makes it more secure. The video also discusses the importance of health insurance, and how it can be difficult to receive coverage for medical costs. Crowdhealth is a new sponsor of Bitcoin Magazine, and they offer a way for people to take control of their health care bills.
01:20:00 YouTube channel "Crowdhealth" discusses how bitcoin can be used to circumvent the traditional healthcare system. Crowdhealth offers a service where users can control a portion of their account's bitcoin value to be used in case of a big health event. The promo code for 99 a month for six months is provided.
01:25:00 Bitcoin is a digital currency that is resistant to majority change, and has the ability to be stable against force change in a democracy.
01:30:00 Bitcoin is based on a proof of work system, and the future of war may hinge on how effectively this system can be used to capture and defend resources. In the past, resource wars have been fought over physical objects, but with Bitcoin, this becomes a much more difficult task.
01:35:00 This YouTube video discusses the concept of ownership and how it is tied to the laws of conservation of energy and the territoriality of animals. It argues that, in order to solve the systemic insecurity of rules-based ownership protocols, we need to reinstantiate brute force physical power protocols to govern zero trust and egalitarian access to objects called resources. War is the same thing nature does, and it has been doing so for four billion years.
01:40:00 Computer technology has been in existence for 2,000 years, but the invention of stored program computers allowed for more than just simple computation, leading to a metacognitive shift in society. This shift, combined with the advent of digital currencies like Bitcoin, has the potential to create a more just world.
01:45:00 The video discusses how, over the last few decades, people have gradually become better at understanding software as a discrete state machine that can be instructed to act in ways that are similar to those that we perceive in the real world. However, this understanding has its limits, as even software that is designed well can be exploited. To address this limitation, various rules-based methods have been put into place, such as enforcing a physical barrier that prevents abuse, but these methods have yet to be effectively applied to the cyber domain.
01:50:00 Klossowitz argues that nations go to war for a variety of reasons, including to resolve policy disputes and to access the blind, natural forces of violence. Bitcoin and other cryptocurrencies introduce the possibility of using software to defend against abuse and exploitation. If properly implemented, this could lead to the reduction of the need for hard war.
01:55:00 In this video, Adam Back and Jason Lowery discuss the importance of bitcoin in terms of its role in the future of war. They also mention Satoshi Nakamoto, who may be deserving of a Nobel Peace Prize for his work on bitcoin. Finally, they mention the potential implications of bitcoin undermining the reliability of money globally.

02:00:00 - 02:55:00

In this video, Adam Back and Jason Lowery discuss the potential for bitcoin to help reduce the incentive for military conflict. They talk about how some assets are not monetary, and how removing the monetary premium from these assets may reduce the incentive to try to take control of them militarily. They also discuss the role of bitcoin in removing the need for trust in systems of governance, and how this could lead to a more peaceful world.

02:00:00 In this video, Adam Back and Jason Lowery talk about how bitcoin is efficient in terms of using energy, and how it may be a solution to the money problem. They also talk about how some assets are not monetary, and how removing the monetary premium from these assets may reduce the incentive to try to take control of them militarily.
02:05:00 Bitcoin is a digital asset that represents a form of money that can be used to purchase goods and services. Bitcoin is decentralized, meaning it is not controlled by any one individual or group, and it is immune to systemic abuse and oppression. El Salvador is attempting to use Bitcoin to settle policy disputes with other countries, and other countries are likely to follow suit.
02:10:00 Bitcoin is a rules-based protocol that is virtually unexploitable because it would just be so hard to do it. However, this physical power could be a big advantage in less corruptible, less corrupt economies.
02:15:00 Bitcoin is a decentralized, digital currency that is protected by a set of rules that prevent abuse. Proof of work helps to secure the network, and the economic game theory that is reinforced by it makes it more difficult for individual belligerent parties to control it. If a military incursion were to take place, the network would be defended by a variety of different actions taken by participants. Bitcoin is unobjectionable, and as long as everyone enjoys its benefits, it can be used.
02:20:00 Bitcoin is protected by an "unbounded physical cost" in two dimensions--cyberspace and real world space. If there is a bug or attack on the system, it can be fixed.
02:25:00 In this video, Adam Back and Jason Lowery discuss the potential for bitcoin to be used as a means of payment for military activities, and how the incentive structure in the protocol could lead to defenders using brute force physical power to protect the network.
02:30:00 Bitcoin is unique because as its physical power is increased, it does not lead to more Bitcoin - it actually makes them more powerful. This creates an economic incentive to expand power infrastructure, which in turn leads to a more prosperous society.
02:35:00 In this YouTube video, Adam Back and Jason Lowery talk about how Bitcoin and its Proof of Work algorithm help to protect systems from systemic abuse and exploitation. They discuss how drones and other machines running software impose brute force physical costs on each other, and how traditional tanks are becoming obsolete in the face of drone warfare. They state that we need to find a different way to protect systems against abuse and exploitation, and give credit to Charles Darwin for inspiring this idea.
02:40:00 Bitcoin is a digital currency that is more efficient than other options because it doesn't require violence or wasted energy to function. Its stability makes it an interesting option for channeling blind natural forces.
02:45:00 Bitcoin is a digital currency that encourages saving and discourages consumerism. It is efficient in terms of its use of energy, and it is a potential alternative to systems of exploitation and oppression. Peace is a state of high trust, and Bitcoin is a potential way to achieve it.
02:50:00 In this video, Adam Back and Jason Lowery talk about Bitcoin and its role in removing the need for trust in systems of governance. They also discuss the paradox of Bitcoin's trust-minimizing effects. Back and Lowery agree that trust is an important factor in maintaining a peaceful world, but they also debate the importance of hardware vs. software in this regard.
02:55:00 Bitcoin, Proof of Work, and the future of war were discussed in this video, with Adam Back and Jason Lowry. Back discusses the theory of soft war, which is a conflict that does not hurt people, but is still non-violent. Lowry discusses the concept of micro-power struggles, which are peaceful compared to macro-power struggles. Back and Lowry both agree that transitioning from macro to micro power struggles is more peaceful.