Stephan Livera Podcast Michael Saylor on Bitcoin Principles (SLP536)
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Dec 22, 2023 
Michael Saylor, Executive Chairman and Founder of MicroStrategy, discusses Bitcoin protocols, principles, dynamics, politics, and philosophy. They explore constructive dialogue on Bitcoin philosophy, the power of protocols, Bitcoin's role in the market economy, and its foundation in the future digital economy. They stress the importance of defending core protocols, natural frequency in mining dynamics, unique proof of work, and network security. They analyze Bitcoin's longevity, the difference between money and speculation, and the welcoming of different actors into the Bitcoin ecosystem. They also delve into Bitcoin's ideology of natural law versus human law.
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Three Core Protocols Create Layered Scarcity
- Bitcoin comprises three core protocols: monetary, transaction, and power, which together create layered scarcity.
- These interacting protocols produce asset, bandwidth, power, and technical scarcity that secure the network.
21 Million: The Immutable Monetary Anchor
- Bitcoin's monetary protocol is simple and enduring: a 21 million hard cap.
- Changing that would corrupt the asset and break the long-term economic foundation.
Keep The Base Layer Stable
- Treat Bitcoin as a base layer (granite) and keep layer-two+ evolution fast and experimental.
- Avoid making radical base-layer changes; preserve long-term stability for future civilization.