Stephan Livera Podcast The Physics of Bitcoin with Giovanni | SLP732
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Mar 27, 2026 Giovanni Santostasi, researcher and author of The Physics of Bitcoin, applies power-law and network theory to Bitcoin. He explains why Bitcoin follows scale-invariant patterns, contrasts power-law growth with exponential and S-curve models, and describes tests that could falsify the power-law view. The conversation also covers the idea of a persistent price floor and what true saturation might look like.
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Why Giovanni Wrote The Physics Of Bitcoin
- Giovanni wrote The Physics of Bitcoin to compile his Power Law thesis into a self‑contained reference and reach skeptics.
- He includes basics, appendices, network theory, and a chapter proposing a mathematical definition of Bitcoin's value.
Bitcoin Behaves Like A Natural Scaling Process
- Bitcoin's price-time trajectory follows a power law rather than randomness or simple exponential growth.
- Giovanni frames Bitcoin as a natural scaling process, comparing it to cities and languages that grow by power laws and show self-similarity.
Log‑Log Transformation Reveals Bitcoin's Power Law
- A straight line appears when plotting log(price) vs log(time), indicating scale invariance and a power law relationship.
- The log–log transformation reveals proportionality between price scale and time scale, a hallmark of power laws.
