The Three Fundamental Defects of the Fiat Standard

Michael Saylor joins me to discuss anthropology, energy, and technology from first principles as we build the intellectual foundation necessary to truly grasp the historic significance of Bitcoin.

Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/

GUEST
Michael's twitter: https://twitter.com/saylor
Michael's company: https://www.microstrategy.com/en
Michael's website: https://www.hope.com/

CHANNEL
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400
Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1
RSS Feed: https://feeds.simplecast.com/MLdpYXYI
Transcript:

00:00:00 “What is Money?” Intro
00:00:05 NYDIG
00:01:23 The Purpose of Currency
00:06:54 Fiat Currency Applications
00:10:03 Inflation is the Major Problem of Fiat
00:13:00 Fiat Enables Government Confiscation
00:14:27 The Conundrum of Money
00:16:17 Fiat Hypothecation and Authentication
00:20:22 Restrictions on Fiat Transfer Volume
00:22:16 Impedances are Property Right Impairments
00:23:09 Fiat Transportation, Credit, and Securities Risks
00:24:56 The Base Layer of Fiat is Defective
00:26:16 The Application Layer of Fiat is Random and Manual
00:28:55 No Financial, Mathematical, or Moral Integrity
00:30:35 The Two Fundamental Shortcomings of Fiat
00:33:16 “High Frequency Final Settlement Creates Reality”
00:35:29 The “Spacetime Constants” for Cryptoassets
00:37:17 What Happens When You Triple Gravity…
00:38:32 The Reynolds Number and Fluid Dynamics
00:39:38 Bitcoin is the E=MC^2 of Money
00:41:20 The Fundamental Basis of Integrity
00:42:46 Constantly Changing Rules Create Insanity
00:44:50 Bitcoin is a Digital Monetary Virus
00:46:05 “The Living Truth Nebula”
00:47:00 The Path to the Ideal Technology for Money
00:47:51 Robert's Outro

SOCIAL
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WRITTEN WORK
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Worldclass Bitcoin Financial Services: https://nydig.com/
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