Bitcoin Magazine has released a program on Bitcoin security featuring Micah Warren, an associate professor of mathematics at the University of Oregon and author of Bitcoin: A Game-Theoretic Analysis. Warren joined Grace Remington and Sean Hagan to examine Bitcoin through a game-theory lens and to explain why miner incentives remain central to the network’s security model.
According to the program description, Warren said miner incentives are one of the main forces holding Bitcoin together. In that framework, he argued that classic reorganization attacks and double-spend attacks are unlikely today.
Discussion centered on incentives and the security model
The episode opens with a segment on what game theory reveals about Bitcoin’s security, followed by a chapter on why miner incentives help keep the system aligned.
It then moves to how treasury companies, governments and miners can change the game, as well as the role of North Korea, Iran and other bad actors in the Bitcoin ecosystem.
AI enters the picture when miners have alternatives
One of the listed chapters is titled “AI vs. Bitcoin Mining: When Miners Have Other Options.” The headline framing — a threat to Bitcoin from an AI pivot — points to the possibility that miners could face a different incentive structure if they shift resources toward AI-related activity instead of mining.
The program also addresses feather forks, described in the chapter list as a scenario in which a minority of miners could try to censor transactions. Another segment asks whether government stakes in mining companies could raise censorship risk.
Blacklist risk and institutional demand
Later sections focus on “Blacklisted vs. Clean Bitcoin” and describe that distinction as a choke point for institutional demand. The closing chapters turn to Bitcoin’s resilience, rogue attacks versus centralization, and the security budget debate, with the program description stating that miner collusion is the bigger risk.
The post was first published by Bitcoin Magazine and written by Patrick Green. The program includes a disclaimer saying the views expressed are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or affiliated entities. It also says the content is for informational and educational purposes only and should not be taken as investment, legal, tax or accounting advice, nor as a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments.