Jeff Booth joins me for a multi-episode conversation covering the concepts laid out in his book "The Price of Tomorrow: Why Deflation is Key to an Abundant Future"Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/GUESTJeff's Twitter: https://twitter.com/JeffBoothJeff's Book: https://www.amazon.com/Price-Tomorrow-Deflation-Abundant-Future/dp/1999257405/ref=sr_1_2?keywords=the+price+of+tomorrow&qid=1574403883&sr=8-2PODCASTPodcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1RSS Feed: https://feeds.simplecast.com/MLdpYXYIOUTLINE00:00:00 “What is Money?” Intro00:00:05 NYDIG00:01:22 Inflation Distorts Economic Perceptions00:03:07 Bitcoin: The First Independent Economic Variable00:05:08 Standardization and Monetization00:10:38 The Unevenness of Inflation00:13:07 Pricing on a Bitcoin Standard00:15:40 The Chair, Revisited00:16:59 Redesigning for Productivity and Price Declines00:18:54 Unleashing Entrepreneurship00:20:09 The Mystery of Measuring Productivity00:22:22 Bitcoin: Humanity’s Greatest Invention?00:23:41 The Great Filter00:25:15 Money in Harmony with Nature00:26:18 It’s Hard to Think Differently00:29:00 The Final Human Freedom00:31:49 Your Life’s Network00:32:24 Psychological Archetypes00:35:36 Action in Service to Love and Belonging00:38:56 Selflessness is Selfish00:40:48 “You Make Everyone Cry But They Love You For It”00:44:11 Love and Belonging are Addictive00:45:07 Love, Sacrifice, and Economics00:47:47 Cultural Immune Systems00:49:09 The Criticality of Humility00:51:43 Pride Precedes the Fall00:52:02 EndSOCIALTwitter: https://twitter.com/Breedlove22LinkedIn: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/Medium: https://breedlove22.medium.com/All My Current Work: https://linktr.ee/breedlove22​CONTRIBUTEBitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Patreon: https://www.patreon.com/user?u=32843101&fan_landing=true

Jeff Booth joins me for a multi-episode conversation covering the concepts laid out in his book "The Price of Tomorrow: Why Deflation is Key to an Abundant Future"Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/GUESTJeff's Twitter: https://twitter.com/JeffBoothJeff's Book: https://www.amazon.com/Price-Tomorrow-Deflation-Abundant-Future/dp/1999257405/ref=sr_1_2?keywords=the+price+of+tomorrow&qid=1574403883&sr=8-2PODCASTPodcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1RSS Feed: https://feeds.simplecast.com/MLdpYXYIOUTLINE00:00:00 “What is Money?” Intro00:00:05 NYDIG00:01:22 Inflation Harvests Economic Surplus00:02:02 When Innovation Collapses Distribution Costs00:07:50 Etail vs. Retail00:09:55 The Inability to Understand Exponential Change00:11:25 Goods are Information00:15:00 Sitting at the Cutting Edge00:17:45 Bitcoin’s Exponentially Decaying Supply Flow00:20:17 How to Measure Economic Growth?00:22:21 Digital Platforms, Supply Aggregation, and AI00:28:59 Airbnb Aggregating Lodging Supply00:32:31 AI is Already Here00:35:38 Say’s Law, Money, and Time00:40:22 The Middle Class Attacked on Two Fronts00:42:05 Future Economic Shocks00:46:52 “Never Let a Good Crisis Go to Waste”00:48:46 The Diminishing Returns of Indebtedness00:52:04 Double-Digit Negative Real Yields00:55:41 Macroeconomics: Designed to Deceive00:58:00 Innovation Requires Money that Allows Price Deflation00:59:28 EndSOCIALTwitter: https://twitter.com/Breedlove22LinkedIn: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/Medium: https://breedlove22.medium.com/All My Current Work: https://linktr.ee/breedlove22​CONTRIBUTEBitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Patreon: https://www.patreon.com/user?u=32843101&fan_landing=true

Jeff Booth joins me for a multi-episode discussion covering the concepts laid out in his book "The Price of Tomorrow: Why Deflation is Key to an Abundant Future"Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/GUESTJeff's Twitter: https://twitter.com/JeffBoothJeff's Book: https://www.amazon.com/Price-Tomorrow-Deflation-Abundant-Future/dp/1999257405/ref=sr_1_2?keywords=the+price+of+tomorrow&qid=1574403883&sr=8-2PODCASTPodcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1OUTLINE00:00:00 “What is Money?” Intro00:00:05 NYDIG00:00:00 Robert’s Intro to the Booth Series00:05:23 Series Begins00:08:41 How the Economy Works00:11:30 “Currency wars, trade wars, then real wars”00:13:38 Innovation is Unstoppable00:16:43 Inflation Fights Innovation00:19:10 What if Central Banks Knew?00:22:40 Empathy and How Systems Operate00:29:00 Is GDP the right metric?00:32:29 Declining Prices Means Freeing Time00:34:52 Digital Technology Vaporizes Borders00:38:14 All Government Action is Wasteful00:43:09 Inflation Centralizes Power00:47:27 Inflation is Implicit Default on Debt00:49:37 Inflation Drives Divisiveness00:52:14 Fear of Systemic Change00:55:29 Personalities Emerge from Incentives00:57:53 Fiat Currency Forces and Funds Warfare01:01:06 The Stability of Rules is the Bedrock of Peace01:06:10 No Hope for the Existing System01:08:22 The “Risk Free” Rate is Systemic ManipulationSOCIALTwitter: https://twitter.com/Breedlove22LinkedIn: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/Medium: https://breedlove22.medium.com/All My Current Work: https://linktr.ee/breedlove22​CONTRIBUTEBitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Patreon: https://www.patreon.com/user?u=32843101&fan_landing=true

In April 2020, after watching Eric Weinstein’s appearance on Joe Rogan (episode #1453), Chris Espley wrote a thread on Twitter which gave a Bitcoiner’s perspective on some of the societal problems Weinstein had identified. Bitcoiners aren’t a homogenous group, but the thread proved popular, suggesting the themes resonated with a significant number of Bitcoiners and explained their perspective well. In this episode of the What is Money? Show, Robert Breedlove and Chris Espley explore and expand on the themes discussed within the original thread.Introduction00:00:04 – 00:05:14 Why Eric Weinstein?00:05:15 - 00:09:57The purpose of this conversation - Building our Portal00:09:58 - 00:15:33Zooming out - The parameters of our PortalWe’re living through cultural and economy decay00:15:33 - 00:23:18 Bitcoiners vs. Weinstein – What we agree on (Or: We’re living through cultural and economic decay00:23:19 - 00:27:40 WTF happened in 1971? – Systemic Rot00:27:41 - 00:31:42 Skin in the Game – The limits of the Keynesian perspective00:31:44 - 00:33:41A stall in innovation in physics - Weinstein’s perspectiveWhy mainstream explanations come up short00:33:42 - 00:38:02The money is the root, not theoretical physics00:38:03 - 00:44:09Keynesian’s are too zoomed in00:44:06 - 00:47:07Gen X vs. Millennial perspectives00:47:08 - 00:53:46Millennial disillusionment in art and popular culture00:53:46 - 01:03:54The monetary system is the unseen cause01:03:58 - 01:14:23Meme wars - Why Bitcoin winsThe history of money01:14:24 - 01:19:08The function of money01:19:08 - 01:21:16Why gold emerged as money01:21:17 - 01:22:33How gold empowered civilisations to become great01:22:34 - 01:26:56Why we moved beyond gold01:26:58 - 01:32:29Money, standards and social scalabilityFiat money is the root of the problem01:32:37 - 01:42:21Money is the base layer of civilisation01:38:39 - 01:42:20Fiat money is decivilizing01:42:21 - 01:52:20Corrupting the money is the cause of decay01:52:20 - 01:56:57The problems with Weinstein’s perspectiveHow problems with the money are causing societal decay01:57:02 - 02:03:10Fiat money robs society of its course-correction mechanism02:03:12 - 02:06:42Fiat money insulates society from the consequences of its actions02:06:43 - 02:09:34Fiat money gives power to Wall Street02:09:35 - 02:14:41Good money creates great civilizations 02:14:42 - 02:20:55Fiat money embeds dishonesty into the systemBitcoin is the solution, Bitcoin is the future02:30:44 - 02:30:43Bitcoin is the bedrock for a new society, economy and morality02:33:22 - 02:33:21To understand Bitcoin’s implications is to understand the future02:38:57 - 02:38:56Bitcoin accelerates the transition to the digital age02:58:20 - 03:05:51A Bitcoin future is a hopeful future-- See My Work: https://linktr.ee/breedlove22Contribute Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Stack sats: https://www.swanbitcoin.com/breedlove/Twitter: https://twitter.com/Breedlove22

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 Trailer00:01:06​ - Swan Bitcoin00:03:22​ - Robert’s IntroEconomics00:06:46​ Science of Infectious Disease, Sterilization, & Antibiotics00:08:33​ Economics with Dirty Money Defective Money is Toxic00:09:33​ Meditations on Toxicity as a threat to life00:11:33​ Inflation Myths & Misconceptions00:12:33​ Jedi Mind Tricks in Economics –“No Inflation Here”00:13:33​ Early Retirement in your Consumer Basket00:15:06​ Questioning Basic Premises of Economics00:15:23​ “We can’t tell people what to think, but we can tell them what to think about”00:15:33​ 30 year Bond calc – MistakeInflation & Interest Rates00:17:09​ Inflation Coefficients & Drivers00:18:49​ Scarcity in Real Estate & Goods00:19:59​ Agreement on bleeding George Washington to death00:20:33​ Energy content in products, services, & assets00:23:33​ Cherry Picking the Inflation Bucket for CPI00:25:02​ Obscene Asset Inflation00:26:33​ Scarce= High Energy Value00:27:07​ Inflation is Theft, but most don’t realize this00:28:26​ Inflation is Freezing to Death00:31:00​ Real Yields vs. Asset Inflation Rates00:31:52​ Storing Value in Equity & Debt00:34:47​ Why do Stocks always go up?00:37:27​ Big Tech vs. the entire Equity market00:38:14​ Darwinian Competition00:40:04​ Humility & Stoicism00:41:54​ Challenges of Competing & Commercializing Acquisitions00:43:52​ The Law of Decimation & Murphy’s Law00:45:14​ Underestimating the cost of maintenance on assets00:45:47​ Dangers of Youthful Ambition & Empire Building00:47:33​ 10% tithe as a continuing theme00:49:11​ Words don’t matter – Actions matter00:49:31​ Paradox of Marcus Aurelius & Imperial Virtue00:52:03​ Marcus Aurelius & the Crypto Keys to Empire00:53:53​ There is always time to snatch defeat from the jaws of victoryNatural Competition00:54:50​ Darwinian Vitality & Antifragilty00:55:29​ Terrifying Natural Beauty00:56:11​ Everything is at its finest when tomorrow is uncertain.00:56:23​ Ants at War on a Sunny Day00:57:52​ Lions & Antelope on Television00:59:18​ Dynamic Equilibrium & Ecosystem Health01:00:53​ Paradox of the Engineer vs. Zookeeper01:01:30​ Easter Island Ecosystem Collapse01:02:10​ Free Market is Economic Expression of Darwinian Equilibrium01:03:33​ - Robert's Outro01:42:27​ - End--See My Work: https://linktr.ee/breedlove22​Contribute Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Stack sats: https://www.swanbitcoin.com/breedlove/​Twitter: https://twitter.com/Breedlove22​

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 Trailer00:01:06 - Swan Bitcoin00:03:22 - Robert’s Intro00:05:48 - Life converts entropy into order “A dead thing can go with the stream, only a living thing can swim against it”00:08:17 - The first engineered monetary system00:09:15 - Networks further the human race00:09:59 - The highest calling of humanity is to extract order from the chaos Engineering – the honorable profession00:11:07 - Bitcoin as a Medium of Exchange00:11:28 - Peer to peer cash means settlement network00:11:56 - High frequency transactions are unnecessary & irrelevant00:13:12 - Centralized networks are best for MoE00:14:06 - Privacy & Compliance00:14:38 - Large transactions are more valuable00:15:08 - High Frequency SoV, Low Frequency MoE00:16:23 - Tax Challenges to MoE00:17:38 - Accounting System Challenges to MoE00:18:48 - Treasury Strategy for BTC “Put it in the vault and throw away the key”00:19:48 - Challenges of paying employees in Bitcoin00:22:18 - Tax treatment is controls currency selection00:23:28 - Bitcoin not practical as currency00:24:00 - The option to settle is more important than the action itself00:24:33 - “An armed society is a polite society” R.A. Heinlein00:25:35 - The ability to cash settle is the deterrent “Absolute power corrupts absolutely”00:26:48 - The optionality keeps everyone honest in a free market00:28:08 - “Just because you can do a thing doesn’t mean you should do a thing” -Stoics “The loudest man in the room is the weakest man in the room” – American Gangster00:28:48 - No need to flaunt power Don’t get distracted by shiny objects.00:29:38 - SoV is much more valuable than MoE00:30:45 - Challenges of Privacy Coins Meyer Lansky, Pablo Escabar examples00:31:55 - Bitcoin as a Unit of Measure00:31:58 - Bitcoin is a universal language of economic truth00:32:49 - Bitcoin will always be a standard unit of economic energy Bitcoin vs. Ounce of Gold00:34:24 - Too much emphasis on MoE UoM, Not enough on SoV00:34:48 - Non-constructive Crypto debates00:35:17 - $300 billion Crypto Pond vs. $300 trillion Asset Ocean00:36:48 - Crypto Market Segmentation00:39:18 - Alt-coin experiments & DeFi00:40:04 - Crypto Theory - Emergence of Magic in Cyberspace00:40:23 - Crypto Networks vs. Digital Networks00:41:14 - Crypto is for Immortal Sovereignty & AntifragilityCrossing Time & Domains00:43:18 - Limitations of Crypto Architecture00:44:36 - “If you want to go fast, go alone. If you want to go far, go together.”00:45:48 - Plants vs. Animals – Genetic Tradeoffs00:46:10 - Trust in Man, Company, Government, or Crypto?00:46:28 - Solving problems with combination of tools00:46:58 - Crypto Network is a life form in cyberspace00:48:38 - One shot to create new form of crypto life00:49:38 - Genetic similarities – no recalls allowed00:50:23 - Ethereum Challenges00:51:32 - Competition between Crypto Assets, Applications, & Currencies00:52:28 - Defective Genetic Mutations00:54:48 - Bitcoin Network Dominance among Crypto Assets00:55:14 - Challenges of Proof of Stake00:56:02 - Stablecoins as Crypto-Currencies00:57:48 - Regulatory Arbitrage01:00:07 - Crypto-Applications01:00:50 - Digital Exchanges vs. Crypto Exchanges01:00:50 - Risk Management & Crossing the Street01:02:18 - Digital Network Advantages when integrated with Bitcoin01:02:48 - Essence of the Crypto Value Proposition – Longevity01:03:48 - Powering Digital Networks with a Crypto Network01:05:48 - Rockefeller Estate Management20th Century Approaches to Immortal Sovereignty01:07:48 - Bitcoin is to Banking what YouTube is to Broadcasting01:09:08 - Bitcoin Trust Structure01:10:58 - Hybrid Solutions with People, Digital, & Crypto Networks01:12:28 - Cyber Guild System01:14:08 - Domains in Perpetuity – Monuments in Cyberspace01:14:48 - Perpetuating Values – What do you love?01:15:58 - Endowments via Bitcoin01:17:04 - Tragedy of the Commons -Park in the Port of Naples01:19:33 - Casting a Magic Spell with Crypto01:20:48 - Bitcoin can be the source of “Magic Power”01:22:24 - Fantasy Magicians, Spells, Curses, & Limits of Power01:22:48 - Money is Power01:23:48 - The power & reach of John D. Rockefeller01:26:48 - Dominant Digital Networks & Bitcoin01:28:12 - Market Forces & Ideology will Define the Future01:28:48 - Role of the Maximalists & Citizen Soldiers01:30:56 - Robert's Outro02:12:13 - End--See My Work: https://linktr.ee/breedlove22Contribute Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Stack sats: https://www.swanbitcoin.com/breedlove/Twitter: https://twitter.com/Breedlove22

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 Trailer00:01:06 - Swan Bitcoin00:05:42 - Bitcoin like a cruise missile00:06:07 - Holding high ground behind a wall of encrypted energy00:06:27 - Crypto Bank is strongest, fastest, smartest financial entity in the world00:08:07 - Impact of 24/7 Operations ( 35 hours to 168 hours per week)Highest bandwidth of any asset. The Apex Asset.00:08:47 - Dangers of fighting the Cyber Swarm00:10:03 - Strength of the Highest Common Denominator00:10:32 - Virtues of Hodling & Benefits of Joining the Network00:12:27 - Inverting the asymmetry from fragility to vitality00:12:43 - Herd immunity00:13:08 - The Parable of the Lazy Lions00:13:46 - Destroying Crypto Networks by hobbling transaction fees00:14:47 - Dangers of Socialism in Competition for Capital & Products00:16:33 - Interest rates & thermodynamics00:17:43 - Insanity of negative interest00:19:23 - Bitcoin as auto-immune response to global crisis00:21:45 - Inevitable technology driven by toxic inflation00:22:47 - Impact of Pandemic Crisis & Acceleration00:23:36 - The Currency War00:25:01 - Bitcoin as a Store of Value00:25:36 - $250 Trillion in Bonds, Equity, Metals, Property00:26:03 - Challenges to Storing Value in Real Estate00:26:47 - Challenges to Storing Value in Bonds00:27:58 - Challenges to Storing Value in Equity00:30:25 - Bitcoin vs. EquityAnalogy to Plankton as the Base Layer of Ecosystem00:32:48 - Virtues of Simplicity00:34:48 - Proper mission of a company00:35:48 - Preserving energy for a century00:36:15 - Via Negativa & Ideal Design00:37:46 - Success without Transactions00:39:12 - Intelligence built into Google00:40:34 - Impact of a century on stores of value00:42:20 - Crypto POW is the ideal theoretical solution00:42:58 - Criticality of the Maximalists & Religious Conviction00:44:29 - Institutional Longevity00:45:46 - Keepers of the Flame – Altars & Chapels in Bitcoin00:46:53 - Strength of Gods in Fantasy Genre00:47:39 - Feeding the Fire of Crypto Network (Miners & Nodes)00:48:47 - Challenges of Novel Crypto Networks & Altcoins00:49:24 - Values of Maximalists00:50:53 - Crypto Networks – A path to immortalityBitcoin - “The pursuit of immortal life”00:51:11 - Projecting values thru time00:53:03 - Bitcoin as a Higher Truth00:53:58 - A religion for those that worship the laws of science & math00:54:09 - The moral & intellectual hazards of short time horizons00:55:47 - Virtues of taking the Long View00:56:48 - What is required to store value 100 years? 1000 years?00:57:21 - Economics as a Science00:58:03 - Importance of Isaac Newton00:58:19 - Robert's Outro01:31:27 - End--See My Work: https://linktr.ee/breedlove22Contribute Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Stack sats: https://www.swanbitcoin.com/breedlove/Twitter: https://twitter.com/Breedlove22

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 Trailer00:01:06 - Swan Bitcoin00:06:23 - Bitcoin as Digital Gold – Harder, Smarter, Stronger, & Faster00:07:13 - Bitcoin is Harder & Antifragile00:08:05 - The Fragility of the Great Wall of China00:10:05 - Military Wisdom - The best defense is a good offense00:11:05 - Gold is a dumb rock – Bitcoin is a living, dynamically evolving ecosystem00:13:43 - Importance of Pain to Antifragility of Bitcoin00:14:17 - Quantum Threats to Bitcoin00:16:34 - Crashing the World with Photon Bullets00:17:25 - Managing Political Threats00:17:48 - Survival of the Hydra – Fight or Flight00:18:44 - Geopolitical Balance of Power “Show me the incentive & I’ll show you the outcome” – Munger00:19:59 - Bitcoin Ethos & Hatred of Gatekeepers00:20:43 - Roman Military Doctrine & Views on Defense “Gatekeepers are your weakness”00:21:20 - Proof of Work vs. Proof of Stake00:22:18 - “There is no such thing as a free lunch”00:24:09 - Immune response of the network to an attacker00:25:20 - Merits of embracing pain rather than running from it.00:26:25 - Developing the immunity critical to life00:27:18 - The Mongolian Horde & Genghis Khan00:28:50 - The hardness of a hornet’s nest00:30:45 - Merits Private Nodes & Private Keys00:32:05 - Game Theory & Benefits of Key Optionality & Competition of Custodians00:33:37 - Drive to improve client/server hardware on Bitcoin network Wallets, Miners, Exchanges in Aggressive Competition00:35:05 - Upgrade cycles of Bitcoin vs. Gold “Humans move mountains” 00:37:47 - Bitcoin is Smarter00:38:35 - Software applications to improve utility of Bitcoin00:39:38 - Creating the smartest bank in the world via software00:40:55 - Creating smart money for a mobile device00:41:48 - Magical money via software00:42:38 - Insurance applications00:42:50 - Problems with Gold & Tokenized Gold00:43:49 - Betting on dynamics rather than statics00:44:50 - Developing a Yield Curve on Bitcoin00:45:50 - Free market interest rates00:47:14 - Bitcoin is Stronger00:48:05 - Channeling money with force & acceleration00:49:50 - Strength Limits of Gold, Stock, Bonds00:50:43 - Challenges of getting interest on Stocks00:51:57 - Merits of Competition to create Stronger Money00:52:34 - Strength from Self-Custody across jurisdictions00:53:03 - Bitcoin is Faster00:53:15 - E=MC2 and Benefits of Virtualizing Gold00:53:36 - Cost of move $100 million around the Earth00:54:08 - High Frequency Transactions at the Speed of Light00:54:48 - Ebay of Social Finance00:55:08 - Systems & Compliance Impedance to Monetary Velocity00:56:20 - Algorithms to make money while you are sleeping--See My Work: https://linktr.ee/breedlove22Contribute Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Stack sats: https://www.swanbitcoin.com/breedlove/Twitter: https://twitter.com/Breedlove22

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 Trailer00:01:06 - Swan Bitcoin00:03:23 - Robert's Intro00:06:08 - Channeling Monetary Energy thru Time & Space00:09:08 - Shipping Energy via Rubber Raft vs. Wooden Ship vs. Steel Tanker00:11:34 - Vacuum sealing food energy & encrypting monetary energy00:13:01 - Creating a wall encrypted energy00:14:07 - “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, & Inflation00:17:48 - Adoption -Measuring & defining (Hodlers, Treasury Reserves) Mercenary Traders vs. Citizen Owners – Degree of Commitment00:24:39 - Bitcoin is a closed thermodynamic system00:26:02 - Degrees of Commitment to Adoption of Bitcoin (True Adoption Rate)00:26:49 - Perils of leveraging with insurance vs. BTC treasury reserves00:39:54 - Perils of leveraging with debt vs. BTC treasury reserves00:33:59 - Inflation drives debt drives fragility00:35:04 - Currency wars make cash toxic -inflation vs. hyperinflation (chemotherapy, diabetes, metabolic disease, organ death)00:39:03 - Calculating overall adoption of monetary network & progression00:41:54 - Comparison to (and limits of) Facebook, Apple networks00:43:49 - Adoption by NGOs, Governments, Institutions, Investors, Companies00:45:39 - Teamwork, Syndicated Energy, & Historic Examples00:46:49 - Bitcoin adoption organizes & channels energy participants00:47:55 - Perils of Trading Bitcoin & Benefits of Hodling Bitcoin High Frequency SoV, Low Frequency MoE00:59:49 - “Nothing wrong with living forever”00:51:49 - Benefits of Never Selling an Asset & Using it for Debt00:55:04 - The ideal holding period of an asset is forever00:55:59 - Avoiding fragility from leverage, risk models01:01:59 - Impact of Interest Rates on Financing01:02:19 - Increasing the Utility of the Bitcoin Network01:06:13 - Impact of Productivity Growth on the Bitcoin Network Sweeping cash flows into the network01:09:17 - Creating the first cyber economy via Bitcoin01:10:34 - Comparison to American economy01:12:49 - “A swarm of military assets behind a wall of water”01:14:39 - Crucibles of Innovation require an Insulator to preserve Energy01:15:20 - Impact of Inflation on Power of the Bitcoin Network Translating energy into fiat frame of reference01:18:31 - Value of Bitcoin varies by Domain, Inflation Rate drive rate of Adoption01:19:49 - Final Thoughts of Bitcoin Network Power Equation & Adoption01:23:04 - Bitcoin is the first conservative monetary energy system Energy is truth…can be neither created nor destroyed01:24:09 - 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 Economics01:30:14 - Robert's Outro02:10:27 - End--See My Work: https://linktr.ee/breedlove22Contribute Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Stack sats: https://www.swanbitcoin.com/breedlove/Twitter: https://twitter.com/Breedlove22

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 Trailer00:01:04 - Swan Bitcoin00:03:23 - Robert's Intro00:05:45 - Bitcoin - The first digital monetary energy network00:19:58 - Channeling energy – money as the highest form of energy00:12:47 - The most efficient way to channel energy thru time & space Challenges of channeling & storing energy on power grids Gold money as an energy network00:17:26 - Copper energy networks vs. Gold energy networks00:21:54 - Challenges of channeling energy thru time & space with Gold00:23:27 - Gold & counterparty risk. “Over a long enough timeline, the mortality rate is 100%”00:24:45 - Gold & commodity risk “Gold miners are the enemy of gold owners”00:30:37 - Gold Standard & stabilizing energy in solid state00:32:07 - Businesses always strive to avoid being commoditized00:33:07 - Facebook, Apple, Google networks vs Electricity & Water networks.00:34:09 - Challenges of using Big Tech as a Store of Value00:33:17 - Regulating Standard Oil, Electricity as utilities00:36:23 - Summary of Gold Defects over time- Mining, Banks, Centralization, Politics00:37:24 - Gold not fast enough (Bitcoin vs. Gold)00:41:32 - Bitcoin is 1000x faster than Gold, 50,000x cheaper to move00:42:22 - Bitcoin like Mass Transit system00:43:17 - Bitcoin as a superconducting energy network00:44:34 - Encrypted monetary energy has achieved escape velocity from the gravity well00:45:54 - The most efficient system for channeling energy thru time & space00:47:37 - Monetary Systems – Fiat vs. Gold vs. Bitcoin00:50:37 - Finding more Gold & fracking more Oil00:53:19 - Being a tech cynic is a losing trade “Malthusian Falacy”00:54:55 - “Technology Fails until it Succeeds”00:55:52 - Intellectual Mistake to run Money on Commodities rather than Math00:57:02 - Bitcoin channels human ingenuity constructively00:57:56 - Fiat (-99%) Gold (-95%) Bitcoin is lossless over time w/healthy friction thru space00:59:13 - Transaction fees are healthy and essential00:59:43 - Bitcoin energy network vs. Real Estate energy network Energy loss, transaction speed, fees in property network01:02:52 - Challenges of using Property as Store of Value01:03:39 - Future Bitcoin Transaction fees Comparison to bond market, credit cards01:04:37 - Cities are built at the central nodes of transaction networks Free ports, customs fees & shipping through history Real world considerations for transaction fees Bitcoin transactions fees are competitive01:08:10 - Bitcoin mining is a commodity business with risks Mining fees are consensual, competitive, & constructive01:10:35 - Robert’s Outro01:47:21 - EndContribute Bitcoin:3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Stack sats: https://www.swanbitcoin.com/breedlove/Twitter: https://twitter.com/Breedlove22See All my Work: https://linktr.ee/breedlove22