WiM047 - The Saylor Series | Episode 11 | The Failures of Fiat

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/the-what-is-money-show/id1541404400 Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1 RSS Feed: https://feeds.simplecast.com/MLdpYXYI Transcript: 00:00:00 “What is Money?” Intro 00:00:05 NYDIG 00:01:23 The Purpose of Currency 00:06:54 Fiat Currency Applications 00:10:03 Inflation is the Major Problem of Fiat 00:13:00 Fiat Enables Government Confiscation 00:14:27 The Conundrum of Money 00:16:17 Fiat Hypothecation and Authentication 00:20:22 Restrictions on Fiat Transfer Volume 00:22:16 Impedances are Property Right Impairments 00:23:09 Fiat Transportation, Credit, and Securities Risks 00:24:56 The Base Layer of Fiat is Defective 00:26:16 The Application Layer of Fiat is Random and Manual 00:28:55 No Financial, Mathematical, or Moral Integrity 00:30:35 The Two Fundamental Shortcomings of Fiat 00:33:16 “High Frequency Final Settlement Creates Reality” 00:35:29 The “Spacetime Constants” for Cryptoassets 00:37:17 What Happens When You Triple Gravity… 00:38:32 The Reynolds Number and Fluid Dynamics 00:39:38 Bitcoin is the E=MC^2 of Money 00:41:20 The Fundamental Basis of Integrity 00:42:46 Constantly Changing Rules Create Insanity 00:44:50 Bitcoin is a Digital Monetary Virus 00:46:05 “The Living Truth Nebula” 00:47:00 The Path to the Ideal Technology for Money 00:47:51 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?lang=en 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/RBreedlove Dollars via Venmo: https://venmo.com/code?user_id=1784359925317632528 The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true 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/