Bitcoin Economics and Evolution | The Saylor Series | Episode 16 (WiM062)

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 00:00:08 The Relative Energy and Technology Intensity of Bitcoin Mining 00:03:58 Encrypted Energy is Used to Secure the Network 00:06:24 Bitcoin Mining Evolves from Energy to Technology Intensity 00:09:25 Bitcoin Miners Face Continuous Darwinian Pressures 00:12:05 Approaching Bitcoin Mining Peak Energy Consumption? 00:14:06 Adam Smithian and Darwinian Aspects are Critical Advantages 00:17:48 An Open, Competitive Market is an Honest Market 00:19:57 Bitcoin Mining Profitability: A Function of Hash to Hodl Rates 00:23:12 The World is in a “Digital Gold Rush” Until 2035 00:26:48 The Evolution of Bitcoin Mining Business Models 00:28:41 Misunderstanding the Economics of Bitcoin Mining 00:30:06 Proof of Work is Synchronization with Political and Physical Reality 00:33:11 The Layered Scaling of Bitcoin 00:37:59 NYDIG 00:39:07 The Lightning Network as a Logical Scaling Layer 00:42:28 Layer 2 Protocols Tradeoff to Gain Performance or Functionality 00:45:19 Centralization and Decentralization at Layer 2 00:47:27 Higher Layer Applications and Regulatory Compliance 00:50:34 The Range of Bitcoin Financial Applications 00:54:36 Bitcoin Technical Applications: Mobile Money and Finance 01:00:17 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/