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Jeff Garzik

Jeff Garzik

Jul 28, 2026

30:43
Why is that important to you for Bitcoin to succeed, um, you know, as, as the, the best monetary network? Why is programmability important over and above, you know, someone who's just self-custoding Bitcoin and, and thinks, uh, you know, that, that Bitcoin can still be money for the world i- if everyone holds Bitcoin in self-custody?
31:01
I'll answer the question this way, a little bit of trivia that, uh, some Bitcoin folks, uh, might not know.
31:09
Every-- As I like to say, every Bitcoin comes with strings attached, and what that means is every single Bitcoin transaction includes a little string of, uh, programmability, a little script attached to it that describes specifically the monetary rules of how it is to be spent further.
31:32
Uh, when you send some Bitcoin to me, you attach a little programmab- pr- programmable script that says, "Jeff and his Bitcoin address can sign and move this Bitcoin." And it's, it's that simple in the simplest case of a, uh, person-to-person, Bitcoin-to-Bitcoin transfer.
31:52
But at its fundamental level, all Bitcoin has been programmable from day one.
31:58
And that has been, uh, you know, number one, the foundation of its security, so that, uh, it's based on, uh, public/private key digital signature-type technology.
32:10
Uh, so it's been, you know, more secure than the traditional SWIFT Network money messages fro- for its entire existence.

7 MINS LATER

39:29
But are there any things that companies aren't doing right now that you expect them to do? Do you think they're leaving money on the table by not, you know, earning a yield on their Bitcoin or putting their Bitcoin to work in different ways? I, I'm curious of your, your take of the, the lay of the land, uh, w- with how this has played out over the last couple of years.

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