Satoshi’s Big Mistake and the Centralization of Bitcoin

With over 600,000 views, James D’Angelo’s educational videos at the World Bitcoin Network are among the most popular resources on Bitcoin. Besides his excellent technical explanation, he has also been vocal about the dangers of the increasing centralization of mining.

James joined us to talk about his background as a rapper, the World Bitcoin Network, his proposal to use the Bitcoin blockchain to fight climate change and his argument that keeping Bitcoin decentralized would require sacrificing the anonymity of miners.

Topics:

• How he first learned about Bitcoin and started the World Bitcoin Network
• His proposals on identity and climate change
• The crucial mistake Satoshi made in designing Bitcoin
• Why none of the current ideas can solve the underlying problem of the centralization of mining power
• Why decentralization should be the only design criterion for Bitcoin
• His Axiom: That anonymity and decentralization of miners are inversely correlated
• How Identity-based Mining could foster decentralization

Links:

• World Bitcoin Network YouTube channel
• Article about his Sno-Caps proposal to use Bitcoin to fight climate change
• Sno-Caps Whitepaper
• Bitcoin Nodes and Noses
• A new mystery about Satoshi hidden in the Bitcoin block-chain
• 'Typical American' from James D'Angelo earlier rap band The Goats
• James D'Angelo's talk 'What is the Bitcoin Revolution?'
• Bitcoin in Uganda video with James
• epicenter.tv/110