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 00:01:06 - Swan Bitcoin 00:03:22 - Robert’s Intro 00:05:48 - Life converts entropy into order 00:08:17 - The first engineered monetary system 00:09:15 - Networks further the human race 00:09:59 - The highest calling of humanity is to extract order from the chaos 00:11:07 - Bitcoin as a Medium of Exchange 00:11:28 - Peer to peer cash means settlement network 00:11:56 - High frequency transactions are unnecessary & irrelevant 00:13:12 - Centralized networks are best for MoE 00:14:06 - Privacy & Compliance 00:14:38 - Large transactions are more valuable 00:15:08 - High Frequency SoV, Low Frequency MoE 00:16:23 - Tax Challenges to MoE 00:17:38 - Accounting System Challenges to MoE 00:18:48 - Treasury Strategy for BTC 00:19:48 - Challenges of paying employees in Bitcoin 00:22:18 - Tax treatment is controls currency selection 00:23:28 - Bitcoin not practical as currency 00:24:00 - The option to settle is more important than the action itself 00:24:33 - “An armed society is a polite society” R.A. Heinlein 00:25:35 - The ability to cash settle is the deterrent 00:26:48 - The optionality keeps everyone honest in a free market 00:28:08 - “Just because you can do a thing doesn’t mean you should do a thing” -Stoics 00:28:48 - No need to flaunt power 00:29:38 - SoV is much more valuable than MoE 00:30:45 - Challenges of Privacy Coins 00:31:55 - Bitcoin as a Unit of Measure 00:31:58 - Bitcoin is a universal language of economic truth 00:32:49 - Bitcoin will always be a standard unit of economic energy 00:34:24 - Too much emphasis on MoE UoM, Not enough on SoV 00:34:48 - Non-constructive Crypto debates 00:35:17 - $300 billion Crypto Pond vs. $300 trillion Asset Ocean 00:36:48 - Crypto Market Segmentation 00:39:18 - Alt-coin experiments & DeFi 00:40:23 - Crypto Networks vs. Digital Networks 00:41:14 - Immortal Sovereignty & Antifragility 00:43:18 - Limitations of Crypto Architecture 00:44:36 - Alone vs. Together 00:45:48 - Plants vs. Animals – Genetic Tradeoffs 00:46:10 - Trust in Man, Company, Government, or Crypto? 00:46:28 - Solving problems with combination of tools 00:46:58 - Crypto Network is a life form in cyberspace 00:49:38 - Genetic similarities 00:50:23 - Ethereum Challenges 00:51:32 - Competition between Crypto Assets, Applications, & Currencies 00:52:28 - Defective Genetic Mutations 00:54:48 - Bitcoin Network Dominance among Crypto Assets 00:55:14 - Challenges of Proof of Stake 00:56:02 - Stablecoins as Crypto-Currencies 00:57:48 - Regulatory Arbitrage 01:00:07 - Crypto-Applications 01:00:50 - Digital Exchanges vs. Crypto Exchanges 01:00:50 - Risk Management & Crossing the Street 01:02:18 - Digital Network Advantages when integrated with Bitcoin 01:02:48 - Essence of the Crypto Value Proposition – Longevity 01:03:48 - Powering Digital Networks with a Crypto Network 01:05:48 - Rockefeller Estate Management 01:07:48 - Bitcoin is to Banking what YouTube is to Broadcasting 01:09:08 - Bitcoin Trust Structure 01:10:58 - Hybrid Solutions with People, Digital, & Crypto Networks 01:12:28 - Cyber Guild System 01:14:08 - Monuments in Cyberspace 01:14:48 - Perpetuating Values – What do you love? 01:15:58 - Endowments via Bitcoin 01:17:04 - Tragedy of the Commons 01:19:33 - Casting a Magic Spell with Crypto 01:20:48 - Bitcoin can be the source of “Magic Power” 01:22:24 - Fantasy Magicians, Spells, Curses, & Limits of Power 01:22:48 - Money is Power 01:23:48 - The power & reach of Rockefeller 01:26:48 - Dominant Digital Networks & Bitcoin 01:28:12 - Market Forces & Ideology 01:28:48 - Role of the Maximalists & Citizen Soldiers 01:30:56 - Robert's Outro 02:12:13 - End 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 BITCOIN BUSINESSES Use Discount Code "Breedlove" for Bitcoin Custody w/ Casa: https://keys.casa/#plans Buy Bitcoin in a Retirement Account w/ DAIM: https://daimio.typeform.com/to/oU5OHXMZ Stack Sats with Swan Bitcoin: https://www.swanbitcoin.com/breedlove/ Worldclass Bitcoin Financial Services: https://nydig.com/