In this episode, cryptography legend Phil Zimmermann—creator of PGP—reflects on his role in the original "crypto wars," the mixed societal impact of Bitcoin, and why he’s both intrigued by and cautious about Bitcoin’s role in human rights, crime, privacy, and global monetary systems. He applauds Bitcoin’s resistance to autocracy and surveillance but critiques its volatility, energy use, and criminal applications—offering a nuanced view of its legacy compared to PGP. Enjoy!
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Timestamps:
(00:00) Introduction
(02:45) PGP & Strong Cryptography
(07:36) Digital Cash Breakthrough
(09:20) Mixed Effects of Technology
(13:03) Ads (Core, Ledger)
(14:27) Bitcoin’s Mixed Effects
(17:47) Proof-of-Work & Early Innovations
(23:06) Patents & Bitcoin
(25:34) Bitcoin’s Good vs Bad
(28:43) Criminals & Crypto
(31:26) Improving Bitcoin
(35:34) Ads (Core, Ledger)
(37:00) Improving Bitcoin
(39:49) Bitcoin vs Fiat
(43:56) Bitcoin Consensus
(47:31) Building Support via Courts vs Politics
(51:34) Laws Against Software
(53:39) Bitcoin Shortcomings
(55:49) Privacy & PGP
(59:40) Bitcoin Energy Use
(01:03:58) Is Bitcoin as Successful as PGP
(01:05:26) Autocracies & Democracy
(01:13:07) Bitcoin as a Pocketbook Issue
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Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.