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

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: https://www.swanbitcoin.com/breedlove/ Twitter: https://twitter.com/Breedlove22 See All my Work: https://linktr.ee/breedlove22