Monday, December 5, 2022

The Future of Bitcoin 2017 Series: Dr. Nicola Dimitri, The Bitcoin Mining Game

The Future of Bitcoin 2017 Series: Dr. Nicola Dimitri, The Bitcoin Mining Game

Economist Dr. Nicola Dimitri may not have been the most technical mind in the room at The Future of Bitcoin conference in Arnhem, Netherlands, but that didn’t mean he wasn’t one of the most intelligent. Presenting a paper on bitcoin mining, the University of Siena professor shared his economic perspective of the highly technical process.

Also read: The Future of Bitcoin 2017 Series: Jameson Lopp and ‘Coopetition’

The Bitcoin Mining Game

When he first learned about Bitcoin, Dr. Dimitri quickly took interest in the mining aspect of the technology. Seeing it as a sort of contest, Dr. Dimitri realized the entire mining process had much to do with game theory, one of his areas of interest when it comes to economic research.

Therefore, the economist got to work on a paper describing his perspective on Bitcoin mining, with a focus on game theory and how it informs two major questions he had about the process:

  • Is mining activity really profitably and, if yes, under what conditions?
  • Because of the emergence of mining pools, what structure is the activity bound to have?

Dr. Dimitri’s presentation lasted 45 minutes. To see what he thinks about bitcoin mining from an economic, game theory perspective, view his entire presentation in the video below:


About The Future of Bitcoin 2017

The Future of Bitcoin conference took place in June-July 2017 in Arnhem, Netherlands. Presenting at the event were several high profile individuals who will be making key decisions about what Bitcoin is, and how it works, in the years to come.

This is a comprehensive video series featuring all the speakers and panels from the 2017. event. Watch them for a direct insight into the minds engaged in research and development to keep Bitcoin disruptive, decentralized, global and permissionless.

Did you enjoy this video? Feel free to leave your comments below.

Image via The Future of Bitcoin

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