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/

GUEST
Jeff's Twitter: https://twitter.com/JeffBooth
Jeff'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=8-2

PODCAST
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

OUTLINE
00:00:00 “What is Money?” Intro
00:00:05 NYDIG
00:01:22 Intelligence is Error Correction
00:04:39 “If electricity was a match, AI is the sun.”
00:08:09 Narrow Artificial Intelligence
00:12:09 AI and the End of Jobs
00:16:50 AI Improves Exponentially
00:19:52 Growth Today is the Removal of Jobs
00:23:57 Inflation Concentrates Monopoly Power
00:27:36 The End of Jobs Formula
00:29:28 No Industry is Safe
00:31:37 Information Wants to be Free
00:33:58 Bitcoin Breaks Old Belief Systems
00:38:21 The Digital Enlightenment and Memetics
00:42:40 Entrepreneurs Fit Current Action to Future Market Data
00:47:14 “People Don’t Have Ideas, Ideas Have People.”
00:50:15 Once You See Deflation, You Can’t Unsee It
00:52:02 The Best Information Wins
00:55:50 “All I know is That I Know Nothing At All.”
00:58:00 The Free Market is The Sum of All Intelligence
01:01:27 Bitcoin Defunds Communism
01:03:46 End

SOCIAL
Twitter: https://twitter.com/Breedlove22
LinkedIn: 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​

CONTRIBUTE
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Patreon: 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/

GUEST
Jeff's Twitter: https://twitter.com/JeffBooth
Jeff'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=8-2

PODCAST
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

OUTLINE
00:00:00 “What is Money?” Intro
00:00:05 NYDIG
00:01:22 Commerce Shapes Civilization
00:04:18 Digital Space and Economic Density
00:06:03 Digital Twinning and Mixed Reality
00:11:15 The Digitization of Travel
00:14:04 The Digitization of Manufacturing
00:17:57 The Phase Change to Digital
00:20:22 Economics-Induced Behavior Changes
00:25:02 The Digitization of Energy
00:29:42 Inflation Exacerbates Climate Change
00:31:42 Solar: The Ultimate Energy Source
00:37:33 Swanson’s Law Drives Solar
00:41:41 Lower Cost of Energy = More Civilization
00:43:22 Thinking in Vibration, Frequency, and Energy
00:46:10 Lower Cost of Information = Smaller Organizations
00:55:21 The Path to a Bitcoin Standard
01:00:06 Bitcoin Fairly Disseminates Deflationary Gains
01:00:03 Bitcoin Unleashes Entrepreneurship
01:04:55 Solving Energy Problems Solves Climate Change
01:08:00 “The Most Human Thing We Could Do”
01:09:26 Energy Networks and Geopolitical Power
01:11:25 Inflation is Irreconcilable with Environmental Conservation
01:13:20 End

SOCIAL
Twitter: https://twitter.com/Breedlove22
LinkedIn: 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​

CONTRIBUTE
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Patreon: https://www.patreon.com/user?u=32843101&fan_landing=true

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

GUEST
Jeff's Twitter: https://twitter.com/JeffBooth
Jeff'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=8-2

PODCAST
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

OUTLINE
00:00:00 “What is Money?” Intro
00:00:05 NYDIG
00:01:22 Deflationary Shocks
00:06:24 Natural vs. Nominal Interest Rates
00:10:07 Interest Rate Suppression
00:11:09 Flight to Safety
00:13:40 Always Zoom Out
00:14:45 Aggregating Supply, Addicting Demand
00:18:30 PICNUF Framework
00:20:40 How to Train Kids to Play Piano
00:23:22 When It’s Free, You’re the Product
00:25:25 Algorithms Eating Sovereignty
00:29:47 Bundling vs. Unbundling
00:31:43 Breaking Data Monopolies?
00:34:07 Health Data Aggregation
00:35:26 Network Effects Matter
00:39:14 Bitcoin May Change Contract Law
00:40:24 Life Philosophy
00:45:18 Accept, Don’t Expect, Responsibility
00:50:05 The Beginner’s Mind Advantage
00:53:04 The Liberation of Information
00:56:22 “Strong Opinions, Weakly Held”
00:58:41 The Antiquation of Arrogance
01:02:22 Self-Driving Cars Driving Change
01:07:42 All Goods are Services
01:08:38 Entrepreneurs are Prognosticators
01:11:01 Less Things, More Utilization
01:14:01 End

SOCIAL
Twitter: https://twitter.com/Breedlove22
LinkedIn: 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​

CONTRIBUTE
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Patreon: https://www.patreon.com/user?u=32843101&fan_landing=true

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

GUEST
Jeff's Twitter: https://twitter.com/JeffBooth
Jeff'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=8-2

PODCAST
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

OUTLINE
00:00:00 “What is Money?” Intro
00:00:05 NYDIG
00:01:22 Inflation Distorts Economic Perceptions
00:03:07 Bitcoin: The First Independent Economic Variable
00:05:08 Standardization and Monetization
00:10:38 The Unevenness of Inflation
00:13:07 Pricing on a Bitcoin Standard
00:15:40 The Chair, Revisited
00:16:59 Redesigning for Productivity and Price Declines
00:18:54 Unleashing Entrepreneurship
00:20:09 The Mystery of Measuring Productivity
00:22:22 Bitcoin: Humanity’s Greatest Invention?
00:23:41 The Great Filter
00:25:15 Money in Harmony with Nature
00:26:18 It’s Hard to Think Differently
00:29:00 The Final Human Freedom
00:31:49 Your Life’s Network
00:32:24 Psychological Archetypes
00:35:36 Action in Service to Love and Belonging
00:38:56 Selflessness is Selfish
00:40:48 “You Make Everyone Cry But They Love You For It”
00:44:11 Love and Belonging are Addictive
00:45:07 Love, Sacrifice, and Economics
00:47:47 Cultural Immune Systems
00:49:09 The Criticality of Humility
00:51:43 Pride Precedes the Fall
00:52:02 End

SOCIAL
Twitter: https://twitter.com/Breedlove22
LinkedIn: 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​

CONTRIBUTE
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Patreon: https://www.patreon.com/user?u=32843101&fan_landing=true

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

GUEST
Jeff's Twitter: https://twitter.com/JeffBooth
Jeff'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=8-2

PODCAST
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

OUTLINE
00:00:00 “What is Money?” Intro
00:00:05 NYDIG
00:01:22 Inflation Harvests Economic Surplus
00:02:02 When Innovation Collapses Distribution Costs
00:07:50 Etail vs. Retail
00:09:55 The Inability to Understand Exponential Change
00:11:25 Goods are Information
00:15:00 Sitting at the Cutting Edge
00:17:45 Bitcoin’s Exponentially Decaying Supply Flow
00:20:17 How to Measure Economic Growth?
00:22:21 Digital Platforms, Supply Aggregation, and AI
00:28:59 Airbnb Aggregating Lodging Supply
00:32:31 AI is Already Here
00:35:38 Say’s Law, Money, and Time
00:40:22 The Middle Class Attacked on Two Fronts
00:42:05 Future Economic Shocks
00:46:52 “Never Let a Good Crisis Go to Waste”
00:48:46 The Diminishing Returns of Indebtedness
00:52:04 Double-Digit Negative Real Yields
00:55:41 Macroeconomics: Designed to Deceive
00:58:00 Innovation Requires Money that Allows Price Deflation
00:59:28 End

SOCIAL
Twitter: https://twitter.com/Breedlove22
LinkedIn: 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​

CONTRIBUTE
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Patreon: https://www.patreon.com/user?u=32843101&fan_landing=true

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

GUEST
Jeff's Twitter: https://twitter.com/JeffBooth
Jeff'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=8-2

PODCAST
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

OUTLINE
00:00:00 “What is Money?” Intro
00:00:05 NYDIG
00:00:00 Robert’s Intro to the Booth Series
00:05:23 Series Begins
00:08:41 How the Economy Works
00:11:30 “Currency wars, trade wars, then real wars”
00:13:38 Innovation is Unstoppable
00:16:43 Inflation Fights Innovation
00:19:10 What if Central Banks Knew?
00:22:40 Empathy and How Systems Operate
00:29:00 Is GDP the right metric?
00:32:29 Declining Prices Means Freeing Time
00:34:52 Digital Technology Vaporizes Borders
00:38:14 All Government Action is Wasteful
00:43:09 Inflation Centralizes Power
00:47:27 Inflation is Implicit Default on Debt
00:49:37 Inflation Drives Divisiveness
00:52:14 Fear of Systemic Change
00:55:29 Personalities Emerge from Incentives
00:57:53 Fiat Currency Forces and Funds Warfare
01:01:06 The Stability of Rules is the Bedrock of Peace
01:06:10 No Hope for the Existing System
01:08:22 The “Risk Free” Rate is Systemic Manipulation

SOCIAL
Twitter: https://twitter.com/Breedlove22
LinkedIn: 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​

CONTRIBUTE
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Patreon: https://www.patreon.com/user?u=32843101&fan_landing=true

Introduction

00:00:04 – 00:05:14 Why Eric Weinstein?

00:05:15 - 00:09:57The purpose of this conversation - Building our Portal

00:09:58 - 00:15:33Zooming out - The parameters of our Portal

We’re living through cultural and economy decay

00:15:33 - 00:23:18 Bitcoiners vs. Weinstein – What we agree on (Or: We’re living through cultural and economic decay

00:23:19 - 00:27:40 WTF happened in 1971? – Systemic Rot

00:27:41 - 00:31:42 Skin in the Game – The limits of the Keynesian perspective

00:31:44 - 00:33:41A stall in innovation in physics - Weinstein’s perspective

Why mainstream explanations come up short

00:33:42 - 00:38:02The money is the root, not theoretical physics

00:38:03 - 00:44:09Keynesian’s are too zoomed in

00:44:06 - 00:47:07Gen X vs. Millennial perspectives

00:47:08 - 00:53:46Millennial disillusionment in art and popular culture

00:53:46 - 01:03:54The monetary system is the unseen cause

01:03:58 - 01:14:23Meme wars - Why Bitcoin wins

The history of money

01:14:24 - 01:19:08The function of money

01:19:08 - 01:21:16Why gold emerged as money

01:21:17 - 01:22:33How gold empowered civilisations to become great

01:22:34 - 01:26:56Why we moved beyond gold

01:26:58 - 01:32:29Money, standards and social scalability

Fiat money is the root of the problem

01:32:37 - 01:42:21Money is the base layer of civilisation

01:38:39 - 01:42:20Fiat money is decivilizing

01:42:21 - 01:52:20Corrupting the money is the cause of decay

01:52:20 - 01:56:57The problems with Weinstein’s perspective

How problems with the money are causing societal decay

01:57:02 - 02:03:10Fiat money robs society of its course-correction mechanism

02:03:12 - 02:06:42Fiat money insulates society from the consequences of its actions

02:06:43 - 02:09:34Fiat money gives power to Wall Street

02:09:35 - 02:14:41Good money creates great civilizations 

02:14:42 - 02:20:55Fiat money embeds dishonesty into the system

Bitcoin is the solution, Bitcoin is the future

02:30:44 - 02:30:43Bitcoin is the bedrock for a new society, economy and morality

02:33:22 - 02:33:21To understand Bitcoin’s implications is to understand the future

02:38:57 - 02:38:56Bitcoin accelerates the transition to the digital age

02:58:20 - 03:05:51A Bitcoin future is a hopeful future

-- 

See My Work: https://linktr.ee/breedlove22 

Contribute 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 Trailer
00:01:06​ - Swan Bitcoin
00:03:22​ - Robert’s Intro

Economics
00:06:46​ Science of Infectious Disease, Sterilization, & Antibiotics
00:08:33​ Economics with Dirty Money
Defective Money is Toxic
00:09:33​ Meditations on Toxicity as a threat to life
00:11:33​ Inflation Myths & Misconceptions
00:12:33​ Jedi Mind Tricks in Economics –“No Inflation Here”
00:13:33​ Early Retirement in your Consumer Basket
00:15:06​ Questioning Basic Premises of Economics
00:15:23​ “We can’t tell people what to think, but we can tell them what to think about”
00:15:33​ 30 year Bond calc – Mistake

Inflation & Interest Rates
00:17:09​ Inflation Coefficients & Drivers
00:18:49​ Scarcity in Real Estate & Goods
00:19:59​ Agreement on bleeding George Washington to death
00:20:33​ Energy content in products, services, & assets
00:23:33​ Cherry Picking the Inflation Bucket for CPI
00:25:02​ Obscene Asset Inflation
00:26:33​ Scarce= High Energy Value
00:27:07​ Inflation is Theft, but most don’t realize this
00:28:26​ Inflation is Freezing to Death
00:31:00​ Real Yields vs. Asset Inflation Rates
00:31:52​ Storing Value in Equity & Debt
00:34:47​ Why do Stocks always go up?
00:37:27​ Big Tech vs. the entire Equity market
00:38:14​ Darwinian Competition
00:40:04​ Humility & Stoicism
00:41:54​ Challenges of Competing & Commercializing Acquisitions
00:43:52​ The Law of Decimation & Murphy’s Law
00:45:14​ Underestimating the cost of maintenance on assets
00:45:47​ Dangers of Youthful Ambition & Empire Building
00:47:33​ 10% tithe as a continuing theme
00:49:11​ Words don’t matter – Actions matter
00:49:31​ Paradox of Marcus Aurelius & Imperial Virtue
00:52:03​ Marcus Aurelius & the Crypto Keys to Empire
00:53:53​ There is always time to snatch defeat from the jaws of victory

Natural Competition
00:54:50​ Darwinian Vitality & Antifragilty
00:55:29​ Terrifying Natural Beauty
00:56:11​ Everything is at its finest when tomorrow is uncertain.
00:56:23​ Ants at War on a Sunny Day
00:57:52​ Lions & Antelope on Television
00:59:18​ Dynamic Equilibrium & Ecosystem Health
01:00:53​ Paradox of the Engineer vs. Zookeeper
01:01:30​ Easter Island Ecosystem Collapse
01:02:10​ Free Market is Economic Expression of Darwinian Equilibrium

01:03:33​ - Robert's Outro
01:42:27​ - End

--

See My Work: https://linktr.ee/breedlove22​

Contribute 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 Trailer
00:01:06 - Swan Bitcoin
00:03:22 - Robert’s Intro

00:05:48 - 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 system
00:09:15 - Networks further the human race
00:09:59 - The highest calling of humanity is to extract order from the chaos
Engineering – the honorable profession

00:11:07 - Bitcoin as a Medium of Exchange
00:11:28 - Peer to peer cash means settlement network
00:11:56 - High frequency transactions are unnecessary & irrelevant
00:13:12 - Centralized networks are best for MoE
00:14:06 - Privacy & Compliance
00:14:38 - Large transactions are more valuable
00:15:08 - High Frequency SoV, Low Frequency MoE
00:16:23 - Tax Challenges to MoE
00:17:38 - Accounting System Challenges to MoE
00:18:48 - Treasury Strategy for BTC
“Put it in the vault and throw away the key”
00:19:48 - Challenges of paying employees in Bitcoin
00:22:18 - Tax treatment is controls currency selection
00:23:28 - Bitcoin not practical as currency
00:24:00 - The option to settle is more important than the action itself
00:24:33 - “An armed society is a polite society” R.A. Heinlein
00:25:35 - The ability to cash settle is the deterrent
“Absolute power corrupts absolutely”
00:26:48 - The optionality keeps everyone honest in a free market
00:28:08 - “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 Gangster
00:28:48 - No need to flaunt power
Don’t get distracted by shiny objects.
00:29:38 - SoV is much more valuable than MoE
00:30:45 - Challenges of Privacy Coins
Meyer Lansky, Pablo Escabar examples

00:31:55 - Bitcoin as a Unit of Measure
00:31:58 - Bitcoin is a universal language of economic truth
00:32:49 - Bitcoin will always be a standard unit of economic energy
Bitcoin vs. Ounce of Gold
00:34:24 - Too much emphasis on MoE UoM, Not enough on SoV
00:34:48 - Non-constructive Crypto debates
00:35:17 - $300 billion Crypto Pond vs. $300 trillion Asset Ocean
00:36:48 - Crypto Market Segmentation
00:39:18 - Alt-coin experiments & DeFi
00:40:04 - Crypto Theory - Emergence of Magic in Cyberspace
00:40:23 - Crypto Networks vs. Digital Networks
00:41:14 - Crypto is for Immortal Sovereignty & Antifragility

Crossing Time & Domains
00:43:18 - Limitations of Crypto Architecture
00:44:36 - “If you want to go fast, go alone. If you want to go far, go together.”
00:45:48 - Plants vs. Animals – Genetic Tradeoffs
00:46:10 - Trust in Man, Company, Government, or Crypto?
00:46:28 - Solving problems with combination of tools
00:46:58 - Crypto Network is a life form in cyberspace
00:48:38 - One shot to create new form of crypto life
00:49:38 - Genetic similarities – no recalls allowed
00:50:23 - Ethereum Challenges
00:51:32 - Competition between Crypto Assets, Applications, & Currencies
00:52:28 - Defective Genetic Mutations
00:54:48 - Bitcoin Network Dominance among Crypto Assets
00:55:14 - Challenges of Proof of Stake
00:56:02 - Stablecoins as Crypto-Currencies
00:57:48 - Regulatory Arbitrage
01:00:07 - Crypto-Applications
01:00:50 - Digital Exchanges vs. Crypto Exchanges
01:00:50 - Risk Management & Crossing the Street
01:02:18 - Digital Network Advantages when integrated with Bitcoin
01:02:48 - Essence of the Crypto Value Proposition – Longevity
01:03:48 - Powering Digital Networks with a Crypto Network
01:05:48 - Rockefeller Estate Management

20th Century Approaches to Immortal Sovereignty
01:07:48 - Bitcoin is to Banking what YouTube is to Broadcasting
01:09:08 - Bitcoin Trust Structure
01:10:58 - Hybrid Solutions with People, Digital, & Crypto Networks
01:12:28 - Cyber Guild System
01:14:08 - Domains in Perpetuity – Monuments in Cyberspace
01:14:48 - Perpetuating Values – What do you love?
01:15:58 - Endowments via Bitcoin
01:17:04 - Tragedy of the Commons -Park in the Port of Naples
01:19:33 - Casting a Magic Spell with Crypto
01:20:48 - Bitcoin can be the source of “Magic Power”
01:22:24 - Fantasy Magicians, Spells, Curses, & Limits of Power
01:22:48 - Money is Power
01:23:48 - The power & reach of John D. Rockefeller
01:26:48 - Dominant Digital Networks & Bitcoin
01:28:12 - Market Forces & Ideology will Define the Future
01:28:48 - Role of the Maximalists & Citizen Soldiers

01:30:56 - Robert's Outro
02:12:13 - End

--

See My Work: https://linktr.ee/breedlove22

Contribute 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 Trailer
00:01:06 - Swan Bitcoin

00:05:42 - Bitcoin like a cruise missile
00:06:07 - Holding high ground behind a wall of encrypted energy
00:06:27 - Crypto Bank is strongest, fastest, smartest financial entity in the world
00:08:07 - 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 Swarm
00:10:03 - Strength of the Highest Common Denominator
00:10:32 - Virtues of Hodling & Benefits of Joining the Network
00:12:27 - Inverting the asymmetry from fragility to vitality
00:12:43 - Herd immunity
00:13:08 - The Parable of the Lazy Lions
00:13:46 - Destroying Crypto Networks by hobbling transaction fees
00:14:47 - Dangers of Socialism in Competition for Capital & Products
00:16:33 - Interest rates & thermodynamics
00:17:43 - Insanity of negative interest
00:19:23 - Bitcoin as auto-immune response to global crisis
00:21:45 - Inevitable technology driven by toxic inflation
00:22:47 - Impact of Pandemic Crisis & Acceleration
00:23:36 - The Currency War

00:25:01 - Bitcoin as a Store of Value
00:25:36 - $250 Trillion in Bonds, Equity, Metals, Property
00:26:03 - Challenges to Storing Value in Real Estate
00:26:47 - Challenges to Storing Value in Bonds
00:27:58 - Challenges to Storing Value in Equity
00:30:25 - Bitcoin vs. Equity

Analogy to Plankton as the Base Layer of Ecosystem
00:32:48 - Virtues of Simplicity
00:34:48 - Proper mission of a company
00:35:48 - Preserving energy for a century
00:36:15 - Via Negativa & Ideal Design
00:37:46 - Success without Transactions
00:39:12 - Intelligence built into Google
00:40:34 - Impact of a century on stores of value
00:42:20 - Crypto POW is the ideal theoretical solution
00:42:58 - Criticality of the Maximalists & Religious Conviction
00:44:29 - Institutional Longevity
00:45:46 - Keepers of the Flame – Altars & Chapels in Bitcoin
00:46:53 - Strength of Gods in Fantasy Genre
00:47:39 - Feeding the Fire of Crypto Network (Miners & Nodes)
00:48:47 - Challenges of Novel Crypto Networks & Altcoins
00:49:24 - Values of Maximalists
00:50:53 - Crypto Networks – A path to immortality

Bitcoin - “The pursuit of immortal life”
00:51:11 - Projecting values thru time
00:53:03 - Bitcoin as a Higher Truth
00:53:58 - A religion for those that worship the laws of science & math
00:54:09 - The moral & intellectual hazards of short time horizons
00:55:47 - Virtues of taking the Long View
00:56:48 - What is required to store value 100 years? 1000 years?
00:57:21 - Economics as a Science
00:58:03 - Importance of Isaac Newton

00:58:19 - Robert's Outro
01:31:27 - End

--

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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
00:06:23 - Bitcoin as Digital Gold – Harder, Smarter, Stronger, & Faster

00:07:13 - Bitcoin is Harder & Antifragile
00:08:05 - The Fragility of the Great Wall of China
00:10:05 - Military Wisdom - The best defense is a good offense
00:11:05 - Gold is a dumb rock – Bitcoin is a living, dynamically evolving ecosystem
00:13:43 - Importance of Pain to Antifragility of Bitcoin
00:14:17 - Quantum Threats to Bitcoin
00:16:34 - Crashing the World with Photon Bullets
00:17:25 - Managing Political Threats
00:17:48 - Survival of the Hydra – Fight or Flight
00:18:44 - Geopolitical Balance of Power
“Show me the incentive & I’ll show you the outcome” – Munger
00:19:59 - Bitcoin Ethos & Hatred of Gatekeepers
00:20:43 - Roman Military Doctrine & Views on Defense
“Gatekeepers are your weakness”
00:21:20 - Proof of Work vs. Proof of Stake
00:22:18 - “There is no such thing as a free lunch”
00:24:09 - Immune response of the network to an attacker
00:25:20 - Merits of embracing pain rather than running from it.
00:26:25 - Developing the immunity critical to life
00:27:18 - The Mongolian Horde & Genghis Khan
00:28:50 - The hardness of a hornet’s nest
00:30:45 - Merits Private Nodes & Private Keys
00:32:05 - Game Theory & Benefits of Key Optionality & Competition of Custodians
00:33:37 - Drive to improve client/server hardware on Bitcoin network
Wallets, Miners, Exchanges in Aggressive Competition
00:35:05 - Upgrade cycles of Bitcoin vs. Gold
“Humans move mountains”

00:37:47 - Bitcoin is Smarter
00:38:35 - Software applications to improve utility of Bitcoin
00:39:38 - Creating the smartest bank in the world via software
00:40:55 - Creating smart money for a mobile device
00:41:48 - Magical money via software
00:42:38 - Insurance applications
00:42:50 - Problems with Gold & Tokenized Gold
00:43:49 - Betting on dynamics rather than statics
00:44:50 - Developing a Yield Curve on Bitcoin
00:45:50 - Free market interest rates

00:47:14 - Bitcoin is Stronger
00:48:05 - Channeling money with force & acceleration
00:49:50 - Strength Limits of Gold, Stock, Bonds
00:50:43 - Challenges of getting interest on Stocks
00:51:57 - Merits of Competition to create Stronger Money
00:52:34 - Strength from Self-Custody across jurisdictions

00:53:03 - Bitcoin is Faster
00:53:15 - E=MC2 and Benefits of Virtualizing Gold
00:53:36 - Cost of move $100 million around the Earth
00:54:08 - High Frequency Transactions at the Speed of Light
00:54:48 - Ebay of Social Finance
00:55:08 - Systems & Compliance Impedance to Monetary Velocity
00:56:20 - Algorithms to make money while you are sleeping

--

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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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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
00:01:04 - Swan Bitcoin
00:03:23 - Robert's Intro
00:05:45 - Bitcoin - The first digital monetary energy network
00:19:58 - Channeling energy – money as the highest form of energy
00:12:47 - The most efficient way to channel energy thru time & space
Challenges of channeling & storing energy on power grids
Gold money as an energy network
00:17:26 - Copper energy networks vs. Gold energy networks
00:21:54 - Challenges of channeling energy thru time & space with Gold
00:23:27 - 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 state
00:32:07 - Businesses always strive to avoid being commoditized
00:33:07 - Facebook, Apple, Google networks vs Electricity & Water networks.
00:34:09 - Challenges of using Big Tech as a Store of Value
00:33:17 - Regulating Standard Oil, Electricity as utilities
00:36:23 - Summary of Gold Defects over time- Mining, Banks, Centralization, Politics
00:37:24 - Gold not fast enough (Bitcoin vs. Gold)
00:41:32 - Bitcoin is 1000x faster than Gold, 50,000x cheaper to move
00:42:22 - Bitcoin like Mass Transit system
00:43:17 - Bitcoin as a superconducting energy network
00:44:34 - Encrypted monetary energy has achieved escape velocity from the gravity well
00:45:54 - The most efficient system for channeling energy thru time & space
00:47:37 - Monetary Systems – Fiat vs. Gold vs. Bitcoin
00:50:37 - Finding more Gold & fracking more Oil
00:53:19 - 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 Math
00:57:02 - Bitcoin channels human ingenuity constructively
00:57:56 - Fiat (-99%) Gold (-95%)
Bitcoin is lossless over time w/healthy friction thru space
00:59:13 - Transaction fees are healthy and essential
00:59:43 - Bitcoin energy network vs. Real Estate energy network
Energy loss, transaction speed, fees in property network
01:02:52 - Challenges of using Property as Store of Value
01:03:39 - Future Bitcoin Transaction fees
Comparison to bond market, credit cards
01:04:37 - 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 competitive
01:08:10 - Bitcoin mining is a commodity business with risks
Mining fees are consensual, competitive, & constructive
01:10:35 - Robert’s Outro
01:47:21 - End

Contribute Bitcoin:
3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
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See All my Work: https://linktr.ee/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 Trailer
00:01:05 - Swan Bitcoin
00:03:22 - Robert's Intro
00:06:56 - The Warburgs & the importance of having control of your own capital
00:08:18 - George RR Martin SuperHero Theory from “Wild Cards”
00:09:19 - Indestructible trumps deadly
00:10:45 - Antifragile is superior – absorb your enemies capabilities
00:12:14 - Success of the U.S. in the 20th century wars
00:13:13 - Importance of fighting wars on foreign soil
00:14:22 - Impact of Geography on Geopolitics & Power
00:15:53 - Someone that can kill you that you can’t kill…
00:16:30 - Importance of Security to the Bitcoin network Be the indestructible, immortal blockchain
00:17:43 - Features can be attached to Bitcoin by 3rd Parties
00:20:26 - Humans triumph by channeling energy
00:20:35 - Control of the seas via naval power to deliver force stronger, faster, harder
00:21:35 - Control of the skies via air power – nations must control their own airspace
00:22:35 - Don’t want to be at the bottom of the gravity well
00:23:09 - Control of nuclear power
00:23:25 - Control of space power – satellites
00:24:05 - The Moon is a Harsh Mistress / TANSTAFL
00:25:26 - Tossing rocks down the gravity well
00:26:15 - The story of channeling (gravitational) energy to be harder, stronger, faster, smarter.
00:26:56 - ‘The Sovereign Individual’
00:29:02 - The Digital “High Seas”
00:30:16 - Technology Empowers Individual Sovereignty
00:32:08 - The Structure of Scientific Revolutions
00:32:55 - Investing in S Curves
00:33:32 - Technology Fails Until it Succeeds
00:34:14 - Paradigm shifts often come at unexpected times in unexpected ways
00:35:08 - John Harrison & Discovering Longitude
00:37:12 - Establishment rejects new paradigms absent war or generational change
00:37:59 - “Any sufficiently advanced technology is indistinguishable from magic”
00:39:19 - Robert's Outro
01:16:29 - The End

Contribute Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7

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See All my Work: https://linktr.ee/breedlove22

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

00:00:00 - Robert's Intro
00:04:19 - Humanity’s missteps – 1000 years wasted
00:06:19 - Struggles inventing the Printing Press
00:07:35 - Trajan’s Column & forgetting that the world is round
00:10:03 - Native Americans & Failure to Grasp the Wheel
00:12:19 - Starting a Fire in Cyberspace with the Bitcoin Network
00:13:39 - Guns, Germs & Steel – Stressors makes us Harder & Stronger
00:15:19 - Formation of Great Cities at the Center of Empires
00:17:19 - The Logic of Empire – Economics, Customs, Taxation
00:19:03 - Carthago Delenda Est
00:19:50 - The Battle of Lepanto
00:20:36 - Venetian Catholics
00:21:40 - Channeling & capturing energy via Religion
00:22:40 - Manhattan – Nexus of the Bond Market
00:24:05 - Amsterdam – Nautical Distribution Center
00:24:48 - Martin Luther & the Economic Impetus for the Reformation
“It’s useful to have God on your side”
00:26:53 - Failed Cities are at the center of Failed Empires
00:27:10 - Paris & Cathedral of Notre Dame
Living Off the Vestiges of an Empire Long Passed
00:28:10 - The Steel Age. “Technology reshapes business, politics, life, & the human condition”
00:28:41 - Constructing an energy efficient shipping network
00:30:49 - Empires produce security Mongolian Security
00:32:05 - Bitcoin primary value proposition is security in the virtual domain
00:33:20 - Money is power, control of virtual money can provide physical security
00:33:30 - Plight of the German Jews in the 30s – Economic Refugees
00:35:30 - Rail Networks – Impact on Economics, Politics, & War
00:36:40 - The River War – Winston Churchill
00:38:40 - Railroads in the United States (Manifest Destiny)
Railroads are 1000x faster, stronger
00:39:37 - Standard Oil (Storing & Channeling Energy via Petroleum)
00:41:14 - Importance of creating scarcity in oil & standardizing components & quality
00:42:49 - 1000x more energy. “Some people can’t do a nickel worth of work”
00:44:22 - Food Energy Networks
00:44:53 - Stabilizing Food Energy at Room Temperature
00:45:45 - Origin of CPG Branding
00:46:17 - Marjorie Merriweather Post
00:47:20 - Challenges of moving energy thru time & space
00:48:10 - Manufacturing Food Products as a Store of Value
00:48:30 - Hershey PA Factory as Clean Room Facility
00:50:54 - Bitcoin as “The best branded asset in the history of the world”
00:51:12 - Great growth companies are powered by technology
00:53:00 - Non-technology strategies to grow a business
00:54:18 - John D. Rockefeller success
00:54:51 - Steel & Aluminum – Elemental Forces
00:55:20 - Steel – Elemental to all Civil Engineering & Modern Architecture
00:56:25 - Challenges of refining steel
00:57:33 - Challenges of explosives
00:58:10 - Attributes of Steel that make it ideal for Civil Engineering
00:59:06 - Aluminum – Elemental to the Aerospace Industry
01:01:20 - Energy Networks – Rail, Air, Food, Oil
01:02:08 - Impact of Technology on Life Expectancy (1900 to 1950)
01:03:13 - Antibiotics & Conquest of Infectious Disease
01:06:30 - Innovation thru trial and error
01:07:00 - “The future is already with us, it’s just not evenly distributed”
01:07:07 - Robert's Outro
01:42:40 - The End

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Michael Saylor joins me to discuss anthropology, energy, and technology from first principles as we build an intellectual foundation for grasping the significance of Bitcoin in the grand arc of history.

00:00:00 - Episode Trailer
00:01:03 - Robert's Intro
00:07:43 - Stone Age Technology
00:07:50 - The Digital Transformation of 2020: Currency & Covid Wars
00:13:08 - The rise of man against the brutality of nature
00:17:23 - Requirements for Survival in a Hostile Universe
00:19:12 - Significance of Fire: channeling chemical energy to evolve
00:21:28 - Foolishness of Heroics & Need to Channel Energy
00:23:48 - Modern arrogance & Paleolithic wisdom
00:25:48 - Energy efficient strategy critical for survival
00:26:44 - “Playing with Fire” is unique to humanity
00:27:17 - Spiritual significance of fire to civilization
00:28:59 - Significance of Missiles – channeling kinetic energy for survival
00:30:06 - Effectiveness of Slings & Arrows in the Ancient World
00:33:38 - Roman Slingers vs. Gaulic Tribes (Second Punic War)
00:34:31 - “Death from Above” :
On the Romantic ineffectiveness of close quarters weapons like swords & spears
00:37:10 - Survival Strategy with Missiles
00:38:54 - Dominant Technologies deliver force harder, faster, stronger, smarter
Superiority of Digital Gold vs. Physical Gold
00:40:36 - Significance of Hydraulics- channeling gravitational energy via water
00:41:51 - MIT’s Mascot – The Beaver “Nature’s Engineer” channeling water
00:44:05 - Significance of Water to Humanity – Water is Wealth
00:44:46 - Challenges of Life in the Desert – Water is Elemental to Life
00:47:26 - Hunter/Gatherer Myths – a better survival strategy based on channeling water
00:49:54 - Water for food, drink, protection, farming lobsters
00:52:36 - “Nature tends to pursue the most energy efficient strategy”
00:53:15 - Building the pyramids by channeling gravitational energy
00:55:06 - Water for Sanitation – Critical to Civilization - Santorini Epiphany
00:57:40 - Limits of Animal Power – Design of Ancient Cities
00:58:57 - Significance of the Roman Equestrian Class – Ancient Clean Energy
00:59:59 - Mediterranean as the Cradle of Civilization, Ancient Empires
01:03:22 - Agriculture – Orchards & Ponds
01:04:36 - Human Adaptation to Natural Requirements to Survive
01:06:28 - “3 minutes without air, 3 days without water, 3 months without food”
01:08:20 - Roman Superiority in the Ancient World –“Most Organized Society in Ancient World”
01:08:43 - Roman Politics & Natural Life Cycle “The Ides of March”
Elections, Religion, Celebration, Taxation, Training, Campaigning
01:12:02 - Roman Roles, Consensus Rules & Balance of Power, Antifragility
01:13:26 - Annual Patterns, Natural Life Cycles, Replenishment & Revitalization
01:14:26 - Virtues of Equity & Opportunity, Perils of Centralized Power, Corruption
Romans are Antifragile
01:16:01 - Benefits of Term Limits & Wisdom of Military Career System
(Darwinian Progression)
01:18:08 - Nuclear Aircraft Carrier Management Wisdom
01:21:04 - “Everyone needs their turn” - inspiring hope and devotion
01:22:19 - Benefits of Decentralization & equal opportunity
“Graveyards are full of tombstones of indispensable men”
01:24:09 - Roman Dignity, Pride, & Honor -Citizenship & Submission to Nature
01:24:45 - Romans suffered no Kings – Accountability
Roman System bred Harder, Stronger, Faster, Smarter Individuals
01:27:43 - Roman Army “There was never such thing as a fair fight”
Standard tools, techniques – the most organized ancient army
01:30:33 - Roman Military Industrial Complex – Creation of the Roman Navy
01:32:42 - War has a way of quickening innovation & activity – Stealing good ideas
01:33:44 - Roman Roads & Standardized Logistics
01:37:27 - Darwinian & Competitive Advantages of Standardized Protocols
01:39:26 - Roman Aqueducts & Roman Engineering
Credo of the Engineer “Construct a better world”
01:41:21 - The Bridge at Alcantara “This bridge will stand for all time”
01:42:49 - Breakdown of the Political & Monetary Protocols & Decline of Rome
01:44:42 - The importance of weights, measures, & truth (Taleb)
Importance of respect for natural law to societal health
01:45:29 - Consequences of breaking the laws of nature
01:46:57 - Perils of growth in the political & legal apparatus
01:47:42 - The virtues of pain, dangers of attempting to suppress signal (Taleb)
Law of Gravity cannot be Suspended
01:49:42 - Robert's outro
02:20:57 - The End

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