Why Banks Finally "Get" Bitcoin's Game Theory | Adam Back, CEO of Blockstream & BSTR

Before Bitcoin existed, Adam Back invented the technology that made it possible. Today he runs the company building its future. 🔐 Satoshi Nakamoto cited Adam Back's work in the Bitcoin white paper. That is not a credential you can buy, earn, or fabricate. It is the single most significant endorsement in the history of digital money, and Adam Back is the man who received it. Adam Back is the co-founder and CEO of Blockstream, the leading Bitcoin infrastructure company behind the Liquid Network, satellite-based blockchain infrastructure, and some of the most advanced Bitcoin research on the planet. Before all of that, he invented Hashcash, the proof-of-work system that became the cryptographic foundation of Bitcoin itself. He is a veteran cypherpunk, a world-renowned cryptographer, and one of the handful of people alive who genuinely helped shape what money could become. We sat down with Adam at Paris Blockchain Week as part of the BeInCrypto Market Intelligence Experts Council, our exclusive series of conversations with the most important voices in digital finance. This one is different. This is the source. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 📌 WHAT YOU'LL LEARN ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ✅ Has Bitcoin's original ethos survived institutional adoption — or has it been compromised? ✅ Why sovereign wealth funds and pension managers buying Bitcoin is actually a good thing ✅ Why institutional demand will take much longer to materialise than markets expect ✅ Adam's personal take on Bitcoin Core vs alternative node implementations ✅ The quantum computing threat to Bitcoin — and Blockstream's post-quantum signature proposals (SHRIMPS & SHRINKS) ✅ What upgrading to quantum-proof Bitcoin would actually mean for everyday users ✅ Why Satoshi's anonymity was a feature, not a bug — and the Atlas Shrugged analogy that explains it ✅ The ITF-style consensus mechanism that protects Bitcoin from being hijacked by powerful interests ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ⏱ TIMESTAMPS ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 00:00 — Has Bitcoin lost its soul? 01:43 — New institutional buyers explained 03:07 — Supply vs demand: the new cycle 04:53 — Which institutions matter most? 07:06 — Bitcoin Core & node diversity 10:46 — The quantum threat to Bitcoin 11:06 — Blockstream's post-quantum solution 13:38 — What this means for your wallet 15:25 — Who is Satoshi? The real answer 16:33 — Why anonymity protects Bitcoin ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 💬 BEST QUOTES FROM THIS EPISODE ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ "Bitcoin doesn't really have a governance process — because governance implies committees of people making decisions, and Bitcoin rejects that." "The closest analogy to Satoshi is the 'Who is John Galt?' question from Atlas Shrugged. It's better that nobody knows." "It's actually beneficial to Bitcoin that its creator is unknown. There's nobody in charge and it's been that way from the start." "Some groups are proposing ill-advised ideas and finding out that Bitcoin's consensus process isn't listening to them. So rather than accepting that, they try to change the process. That is defending Bitcoin." ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 🔔 FOLLOW ADAM BACK ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 👉 X / Twitter: @adam3us 👉 Blockstream: blockstream.com 👉 Liquid Network: liquid.net ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 🎙️ ABOUT THE BEINCRYPTO MARKET INTELLIGENCE EXPERTS COUNCIL ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ The BeInCrypto brings together the most respected analysts, traders, builders, and thinkers in digital finance for unfiltered, in-depth conversations. No scripts. No paid opinions. Just expertise. 👉 Subscribe: https://www.youtube.com/@Beincrypto 👉 BeInCrypto: https://beincrypto.com 👉 X / Twitter: https://twitter.com/beincrypto 👉 Telegram: https://t.me/+U8DQNp4b8Gw3YmZi ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ #AdamBack #Blockstream #Bitcoin #Hashcash #BitcoinHistory #Cypherpunk #LiquidNetwork #QuantumBitcoin #BitcoinSecurity #SatoshiNakamoto #BitcoinETF #InstitutionalBitcoin #BeInCrypto #CryptoPodcast #BitcoinCore #PostQuantum #BitcoinFuture #ParisBlockchainWeek #CryptoNews2025 #BitcoinInfrastructure