The Resiliency of the Bitcoin Network with Nick Hansen - WBD414

Location: Los Angeles
Date: Sunday 17th October
Company: Luxor Technologies
Role: CEO


Proof-of-work mining is at the heart of the bitcoin network
consensus, ordering transactions into blocks and providing
security. Without a healthy mining ecosystem, the Bitcoin network
is vulnerable.


Earlier this year, China banned Bitcoin mining within the
country. At that time, over 50% of the hashrate was said to be
located in China. What followed was a huge drop in the hashrate
as miners migrated out of the country. 


While, on the face of it, this could be seen as a negative, the
outcome was a more decentralised hashrate and a smaller
concentration of miners operating within an authoritarian
country.


In addition, stressed economic conditions have led to increasing
uncertainty in the supply chains surrounding the fabrication of
new ASIC mining equipment.


So what is the state of the Bitcoin mining industry today?


In this interview, I talk to Nick Hansen, CEO of Luxor
Technologies. We discuss the resilience of the bitcoin network,
mining pools and the global economics of ASIC supply chains.