BTC238: Bitcoin 101 w/ Michael Schmid (Bitcoin Podcast)

Michael and Preston explore Bitcoin's foundational principles, covering digital scarcity, mining incentives, node infrastructure, and the importance of self-custody versus third-party management.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

12:13 - How Bitcoin prevents government-led currency debasement

19:14 - Why block reorganizations occur and how they're resolved

23:11 - The mechanics of block creation and transaction verification

28:55 - What makes Bitcoin a secure and decentralized timekeeper

31:13 - The economic incentives behind Bitcoin mining

33:54- The role of transaction fees as block subsidies decline

37:01 - How Bitcoin's security model addresses hack concerns

41:05 - How self-custody empowers users and mitigates risks

50:02 - Differences between running a node and mining

1:00:04 - Innovations in node infrastructure from the 256 Foundation

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Michael’s X Account.

Website: Nakamoto Heating Solutions.

Website: 256 foundation.

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