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Bitcoin “Taproot” Updates and Proof of Work - The Third Coin Podcast, Episode 5
Manage episode 317502804 series 3288315
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The name of this recording is Bitcoin “Taproot” Updates and Proof of Work - The Third Coin Podcast, Episode 5, at (00:01:11) we get right into it by discussing the new “Taproot” update, why they are doing it, what it means, and why it took so long.
(00:07:52) Next in the discussion, we discuss the privacy, or lack thereof, of Bitcoin and other cryptocurrencies. We go on to talk about what you need to do if you truly want to have privacy when holding or using crypto.
(00:16:07) After this discussion comes to a close we move to “Proof of Work” and what that means. This segways into what really happens during “mining” and how it is done. We talk about “pooling” and the actual power consumption required to mine crypto coins.
(00:29:15) This segues into a discussion about Evergreen, Binance, Tether, the financial markets, and how or what is linked to the drop of Bitcoin below 60k.
(00:33:23) During a natural stop in the conversation, we take a look at a couple of TikToks to learn how Dan and Grant feel about the opinions presented in them.
(00:35:29) Lastly, we talk about the Blockchain and other possible uses for it including storing data and information. We discuss layer 1 and layer 2 and what that means to everyday users.
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The hosts of The Third Coin Podcast are:
Dan Mueller - crypto veteran
https://www.facebook.com/dishmandan
Grant Cermak - Crypto Guru and founder of www.irulast.com
https://mobile.twitter.com/grantosan
https://mobile.twitter.com/CoinTheThird
and
Lewis May - marketer, rally race car owner, and co-driver
https://hammersportmarketing.com/
https://www.facebook.com/lewis.t.may
https://www.linkedin.com/in/lewistmay/
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