The "What is Money?" Show

WiM007 - The Saylor Series | Episode 7 | The Virtues of Strong Money

Episode Summary

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.

Episode Notes

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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