WiM008 - The Saylor Series | Episode 8 | Bitcoin and Immortal Sovereignty

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