Bitcoin for Millennials Ex-Wall St. Lawyer: Why Bitcoin Wins Where Gold Failed | Vijay Selvam | BFM187
Vijay Selvam is a lawyer and the author of Principles of Bitcoin: Technology, Economics, Politics, and Philosophy, a comprehensive first-principles guide to understanding Bitcoin’s multidimensional impact and once‑in‑history discovery.
› https://www.amazon.com/Principles-Bitcoin-Technology-Economics-Philosophy/dp/023122012X
› ’Bitcoin is Time’ paper that is referenced: https://dergigi.com/2021/01/14/bitcoin-is-time
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🕑 TIMESTAMPS
00:00 - Introduction to Bitcoin and Its Principles
03:06 - The Journey from Gold to Bitcoin
03:31 - Understanding Bitcoin Through First Principles
04:03 - The Rock of Centaurus: A Thought Experiment
04:09 - The Map is the Territory: Bitcoin's Unique Nature
10:36 - Bitcoin's Edge Over Traditional Assets
13:26 - The Core of Digital Scarcity
14:53 - Understanding Money and Its Properties
20:32 - The Evolution of Money
21:06 - The Impact of Inflation and Debt
23:55 - Central Planning and Its Consequences
29:32 - Bitcoin's Role in Sovereignty and State Power
45:43 - The Cycle of Civilizations
47:50 - Time Preference and Economic Behavior
49:47 - Bitcoin as a Solution to Consumerism
53:13 - The Impact of Money on Society
53:54 - Bitcoin: A Once in History Invention
01:00:45 - Bitcoin as a Mirror of Self-Reflection
ℹ️ EPISODE SUMMARY
Bram Kanstein and Vijay Selvam unpack The Principles of Bitcoin — technology, economics, politics, and philosophy — through the eyes of an ex–Wall Street lawyer who lived the 2008 crisis from the inside.
Vijay saw bailouts and moral hazard up close, turned to gold, and eventually realized Bitcoin’s absolute scarcity, decentralized consensus, and unstoppable design make it the once-in-history breakthrough the world needs. From the Rock of Centaurus thought experiment to proof-of-work, incentives, inflation, and sovereignty, this conversation cuts to Bitcoin’s core: why it can’t be shut down, and why everything else in society flows downstream from the quality of money. We cover:
- Why Wall St. insiders dismissed Bitcoin at first
- Scarcity, consensus, and proof-of-work explained simply
- Why incentives make Bitcoin unstoppable
- The map vs. territory problem solved by Bitcoin
- Fiat inflation as hidden theft
- Bitcoin as a nonviolent revolution against state control
- How sound money reshapes time preference, culture, and the future