The "What is Money?" Show WiM005 - The Saylor Series | Episode 5 | Channeling Monetary Energy Across Time and Space
Money as Energy
- Money is the highest form of energy humans can channel.
- Bitcoin channels human ingenuity, while commodities channel energy into decay.
Ship Analogy
- Saylor compares fiat, gold, and Bitcoin to a raft, wooden ship, and steel container ship, respectively.
- This illustrates Bitcoin's superiority in channeling monetary energy across time and space.
Bitcoin's Protective Layer
- Bitcoin acts like a vacuum-sealed container for monetary energy.
- This protects it from decay and theft, unlike fiat or even gold.
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.
00:00:00 - Episode Trailer
00:01:06 - Swan Bitcoin
00:03:23 - Robert's Intro
00:06:08 - Channeling Monetary Energy thru Time & Space
00:09:08 - Shipping Energy via Rubber Raft vs. Wooden Ship vs. Steel Tanker
00:11:34 - Vacuum sealing food energy & encrypting monetary energy
00:13:01 - Creating a wall encrypted energy
00:14:07 - “Money is Power” Monetary Energy is a highest form of power.
How much power can flow into Bitcoin? Price is Voltage.
00:16:12 - Thoughts on S2F model.
00:17:12 - Bitcoin Power= function of Adoption, Utility, Productivity, & Inflation
00:17:48 - Adoption -Measuring & defining (Hodlers, Treasury Reserves)
Mercenary Traders vs. Citizen Owners – Degree of Commitment
00:24:39 - Bitcoin is a closed thermodynamic system
00:26:02 - Degrees of Commitment to Adoption of Bitcoin (True Adoption Rate)
00:26:49 - Perils of leveraging with insurance vs. BTC treasury reserves
00:39:54 - Perils of leveraging with debt vs. BTC treasury reserves
00:33:59 - Inflation drives debt drives fragility
00:35:04 - Currency wars make cash toxic -inflation vs. hyperinflation
(chemotherapy, diabetes, metabolic disease, organ death)
00:39:03 - Calculating overall adoption of monetary network & progression
00:41:54 - Comparison to (and limits of) Facebook, Apple networks
00:43:49 - Adoption by NGOs, Governments, Institutions, Investors, Companies
00:45:39 - Teamwork, Syndicated Energy, & Historic Examples
00:46:49 - Bitcoin adoption organizes & channels energy participants
00:47:55 - Perils of Trading Bitcoin & Benefits of Hodling Bitcoin
High Frequency SoV, Low Frequency MoE
00:59:49 - “Nothing wrong with living forever”
00:51:49 - Benefits of Never Selling an Asset & Using it for Debt
00:55:04 - The ideal holding period of an asset is forever
00:55:59 - Avoiding fragility from leverage, risk models
01:01:59 - Impact of Interest Rates on Financing
01:02:19 - Increasing the Utility of the Bitcoin Network
01:06:13 - Impact of Productivity Growth on the Bitcoin Network
Sweeping cash flows into the network
01:09:17 - Creating the first cyber economy via Bitcoin
01:10:34 - Comparison to American economy
01:12:49 - “A swarm of military assets behind a wall of water”
01:14:39 - Crucibles of Innovation require an Insulator to preserve Energy
01:15:20 - Impact of Inflation on Power of the Bitcoin Network
Translating energy into fiat frame of reference
01:18:31 - Value of Bitcoin varies by Domain,
Inflation Rate drive rate of Adoption
01:19:49 - Final Thoughts of Bitcoin Network Power Equation & Adoption
01:23:04 - Bitcoin is the first conservative monetary energy system
Energy is truth…can be neither created nor destroyed
01:24:09 - Final Thoughts on Bitcoin
Energy is the ultimate scarce asset in the university
Laws of Thermodynamics. You can’t cheat.
There is no such thing as a free lunch.
Newtons Laws are the basis of all mechanics.
Bitcoin is the first time Technology crashed into Economics
01:30:14 - Robert's Outro
02:10:27 - End
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