Robert Breedlove & Michael Saylor , The "What is Money?" Show

WiM004 - The Saylor Series | Episode 4 | Bitcoin: The First Digital Monetary Energy Network

21 Dec 2020 • 107 min • EN
107 min
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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 00:01:04 - Swan Bitcoin 00:03:23 - Robert's Intro 00:05:45 - Bitcoin - The first digital monetary energy network 00:19:58 - Channeling energy – money as the highest form of energy 00:12:47 - The most efficient way to channel energy thru time & space Challenges of channeling & storing energy on power grids Gold money as an energy network 00:17:26 - Copper energy networks vs. Gold energy networks 00:21:54 - Challenges of channeling energy thru time & space with Gold 00:23:27 - Gold & counterparty risk. “Over a long enough timeline, the mortality rate is 100%” 00:24:45 - Gold & commodity risk “Gold miners are the enemy of gold owners” 00:30:37 - Gold Standard & stabilizing energy in solid state 00:32:07 - Businesses always strive to avoid being commoditized 00:33:07 - Facebook, Apple, Google networks vs Electricity & Water networks. 00:34:09 - Challenges of using Big Tech as a Store of Value 00:33:17 - Regulating Standard Oil, Electricity as utilities 00:36:23 - Summary of Gold Defects over time- Mining, Banks, Centralization, Politics 00:37:24 - Gold not fast enough (Bitcoin vs. Gold) 00:41:32 - Bitcoin is 1000x faster than Gold, 50,000x cheaper to move 00:42:22 - Bitcoin like Mass Transit system 00:43:17 - Bitcoin as a superconducting energy network 00:44:34 - Encrypted monetary energy has achieved escape velocity from the gravity well 00:45:54 - The most efficient system for channeling energy thru time & space 00:47:37 - Monetary Systems – Fiat vs. Gold vs. Bitcoin 00:50:37 - Finding more Gold & fracking more Oil 00:53:19 - Being a tech cynic is a losing trade “Malthusian Falacy” 00:54:55 - “Technology Fails until it Succeeds” 00:55:52 - Intellectual Mistake to run Money on Commodities rather than Math 00:57:02 - Bitcoin channels human ingenuity constructively 00:57:56 - Fiat (-99%) Gold (-95%) Bitcoin is lossless over time w/healthy friction thru space 00:59:13 - Transaction fees are healthy and essential 00:59:43 - Bitcoin energy network vs. Real Estate energy network Energy loss, transaction speed, fees in property network 01:02:52 - Challenges of using Property as Store of Value 01:03:39 - Future Bitcoin Transaction fees Comparison to bond market, credit cards 01:04:37 - Cities are built at the central nodes of transaction networks Free ports, customs fees & shipping through history Real world considerations for transaction fees Bitcoin transactions fees are competitive 01:08:10 - Bitcoin mining is a commodity business with risks Mining fees are consensual, competitive, & constructive 01:10:35 - Robert’s Outro 01:47:21 - End Contribute Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Stack sats: Twitter: See All my Work:

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