Matt Corallo on the social good of Bitcoin and the mindset of a Bitcoin developer


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Early Bitcoin Core developer Matt Corallo started working on Bitcoin in 2011. At that time he still attended high school and lived in Germany near Frankfurt am Main. He was a cofounder of Blockstream before he started working on open source projects for Bitcoin at Chaincode Labs in New York. We discuss many different topics, ranging from his interest in Bitcoin at the beginning, to current issues like miner centralization, projects he is working on – Fibre, BetterHash and Rust lightning to the music he likes.

Topics:

  • how he got into Bitcoin at the age of 18
  • who the first developers were
  • why he speaks german – he went to kindergarden in Germany and lived near Frankfurt around 2011
  • non-remote working at Chaincode Labs
  • his first major patch for Bitcoin core
  • how Bitcoin developers got funded and Blockstream started
  • Bitcoins growth outside the western world
  • Mining in China
  • the energy consumption of Bitcoin is not a problem in the long run
  • how stranded energy is used to mine bitcoin
  • relationship between mining and the price of bitcoin – hashrate follows the price
  • privacy has to be default
  • GlobalCoin or FacebookCoin (this was recorded before the Libra Whitepaper was released)
    cannot compete with bitcoin and its core features like uncensorability
  • how the Blockstream satellites and miners utilize the Fibre (Fast Internet Bitcoin Relay Engine) protocol Matt worked on
  • the great firewall of China
  • his Rust Lightning library
  • BetterHash a mining protocol to decentralize mining within a pool
  • open questions like Mining centralization, Lightning and scalability of any blockchain system
  • on how to become a Bitcoin developer
  • the mindset of Bitcoin developers

“I still consider Bitcoin largely an experiment to see wether or not we can build a decentralized currency, because right now, it’s not.” – Matt Corallo

“It takes a long time to develop robust markets across the entire globe.” – Matt Corallo

“Bitcoin is a system where you don’t need to trust someone.” – Matt Corallo

Anita Posch and Matt Corallo

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Shownotes

Recorded: June 2, 2019 at the LightningHackday in Munich (before the Libra Whitepaper was released)

Find Matt Corallo

Matt Corallo on Twitter
Chaincode Labs

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