WiM056 - The Saylor Series | Episode 14 | Bitcoin’s Seven Layers of Security #1

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. Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/ GUEST Michael's twitter: https://twitter.com/saylor Michael's company: https://www.microstrategy.com/en Michael's website: https://www.hope.com/ CHANNEL Podcast Website: https://whatismoneypodcast.com/ Apple Podcast: https://podcasts.apple.com/us/podcast... Spotify: https://open.spotify.com/show/25LPvm8... RSS Feed: https://feeds.simplecast.com/MLdpYXYI Transcript: OUTLINE 00:00:00 “What is Money?” Intro 00:00:05 NYDIG 00:01:23 The Seven Layers of Proof-of-Work Security 00:04:56 The Beauty of Proof-of-Work 00:05:27 The First Layer: Energy 00:09:58 Bitcoin Mining Impact on Global Energy Producers 00:14:22 A Future Convergence of Bitcoin Miners and Banks? 00:17:44 Bitcoin Recruits Energy Capital for Self-Defense 00:19:27 The Second Layer: Technology 00:20:40 Bitcoin Recruits Semiconductor Capital for Self-Defense 00:22:20 Rotating from Energy to Technology Intensive Security 00:27:45 Patterns of New Bitcoin Miner Deployment 00:28:50 Miner Hardware Cycles and Bitcoin Hash Rate 00:31:30 Game Theory of Entering the Bitcoin Mining Network 00:33:58 The Third Layer: Political 00:35:12 The Political Game Theory of Bitcoin Mining 00:37:08 Bitcoin Mining as a Political Lobbying Network 00:39:12 “100 Megawatts is Worth $300M per Year” 00:40:10 A Self-Distributing, Dynamic Mining Network 00:43:02 “The Market Generally Outsmarts the Smartest Person” 00:43:57 An Energetic, Technological, and Political Shock-Absorber 00:47:57 Robert’s Outro SOCIAL Breedlove Twitter: https://twitter.com/Breedlove22 WiM? Twitter: https://twitter.com/WhatisMoneyShow LinkedIn: https://www.linkedin.com/in/breedlove22/ Instagram: https://www.instagram.com/breedlove_22/ TikTok: https://www.tiktok.com/@breedlove22?l... All My Current Work: https://linktr.ee/breedlove22​ WRITTEN WORK Medium: https://breedlove22.medium.com/ Substack: https://breedlove22.substack.com/ WAYS TO CONTRIBUTE Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22 Sats via Tippin.me: https://tippin.me/@Breedlove22 Dollars via Paypal: https://www.paypal.com/paypalme/RBree... Dollars via Venmo: https://venmo.com/code?user_id=178435... The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=328431... RECOMMENDED BUSINESSES Worldclass Bitcoin Financial Services: https://nydig.com/ Join Me At Bitcoin 2022 (10% off if paying with fiat, or discount code BREEDLOVE for Bitcoin): https://www.tixr.com/groups/bitcoinco... Put your Bitcoin to work. Earn up to 12% interest back on Bitcoin with Tantra: https://bit.ly/3h3lL0j IBAC assists central banks and sovereign wealth funds succeed in their digital asset investments: https://www.ibac.io/ Automatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/