Uploaded May 2026 | Updated September 2026, 1 week ago
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In this video, I discuss Adam Back's claim that Bitcoin is just "hashcash extended with inflation control."
I conclude that that's similar to saying that a Tesla is just a "battery on wheels."
I also discuss how Back still doesn't seem to understand that hashcash is not used in Bitcoin to prevent spam, but rather to enforce the immutability of the ledger.
Not investment advice! Consult a financial advisor.
Hashcash:
en.wikipedia.org/wiki/Hashcash
Adam trying to conflate hashcash and Bitcoin:
https://x.com/adam3us/status/814298463009705984
https://chainless.hk/2023/01/24/14-adam-back-gets-up-early-and-catches-up-late-with-one-of-the-founders-of-bitcoin/
A Tesla is a battery on wheels:
https://dokumen.pub/bitcoin-and-cryptocurrency-technologies-a-comprehensive-introduction-converted-from-original-azw3-0691171696-9780691171692.html
Who Is Bitcoin's "Patient Zero"?
youtube.com/watch?v=heeS7PCZ0IU
sec.gov/Archives/edgar/data/2027708/000121390026022004/ea027843201ex99-1.htm
Proof of work is not an anti-spam device in Bitcoin, but rather a device to ensure blockchain immutability:
https://x.com/GrassFedBitcoin/status/2054945584092696758
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#hashcash
#AdamBack
Disclaimer
Neither Matthew Kratter's Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video, on this YouTube channel, or at www.Trader.University or BitcoinUniversity.com (henceforth, “the Sites”) should be construed as such by you. This video, channel, and the Sites should be used as educational tools only and are not replacements for professional investment advice. Trading or investing in new and volatile assets like Bitcoin can be risky.
Join Bitcoin University Premium:
bitcoinuniversity.com/join
In this video, I discuss Adam Back's claim that Bitcoin is just "hashcash extended with inflation control."
I conclude that that's similar to saying that a Tesla is just a "battery on wheels."
I also discuss how Back still doesn't seem to understand that hashcash is not used in Bitcoin to prevent spam, but rather to enforce the immutability of the ledger.
Not investment advice! Consult a financial advisor.
Hashcash:
en.wikipedia.org/wiki/Hashcash
Adam trying to conflate hashcash and Bitcoin:
https://x.com/adam3us/status/814298463009705984
https://chainless.hk/2023/01/24/14-adam-back-gets-up-early-and-catches-up-late-with-one-of-the-founders-of-bitcoin/
A Tesla is a battery on wheels:
https://dokumen.pub/bitcoin-and-cryptocurrency-technologies-a-comprehensive-introduction-converted-from-original-azw3-0691171696-9780691171692.html
Who Is Bitcoin's "Patient Zero"?
youtube.com/watch?v=heeS7PCZ0IU
sec.gov/Archives/edgar/data/2027708/000121390026022004/ea027843201ex99-1.htm
Proof of work is not an anti-spam device in Bitcoin, but rather a device to ensure blockchain immutability:
https://x.com/GrassFedBitcoin/status/2054945584092696758
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#hashcash
#AdamBack
Disclaimer
Neither Matthew Kratter's Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video, on this YouTube channel, or at www.Trader.University or BitcoinUniversity.com (henceforth, “the Sites”) should be construed as such by you. This video, channel, and the Sites should be used as educational tools only and are not replacements for professional investment advice. Trading or investing in new and volatile assets like Bitcoin can be risky.
