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Speaker 1: Here everyone, Welcome to another episode of the Market Disruptor Show,

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Speaker 1: and today I am joined by Brady Swinton. He is

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Speaker 1: he's the host of the Sistum Bitcoin podcast, also head

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Speaker 1: of marketing and Education at Swan Bitcoin and Company. I

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Speaker 1: talked about quite a bit um and today we have

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Speaker 1: a very exciting topic when I'm happy to dig into

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Speaker 1: um about of renaissance, but it's a message of hope.

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Speaker 1: Today we're gonna use historical references, which you know, I

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Speaker 1: love to bring um and talk about hope of the

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Speaker 1: of a better future that I'm I'm pretty excited for.

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Speaker 1: So anyway, Brady, thanks for thanks for joining absolutely, Mark man,

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Speaker 1: I'm a big fan of yours. Uh really glad that

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Speaker 1: we've gotten to know each other a bit better through

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Speaker 1: uh doing some business and talking bitcoin and happy to

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Speaker 1: be here. Thanks for thanks for the time. Yeah. So um, yeah,

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Speaker 1: I'm I'm excited for this conversation today because sometimes people

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Speaker 1: say I talk too much gloom and doom and because

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Speaker 1: the stuff going on, Yeah, I mean the stuff going

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Speaker 1: on today is is doom and gloom. Um. But on

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Speaker 1: the other side of this is amazing hope, and so

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Speaker 1: that's what I want to talk about. Today, we'll talk

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Speaker 1: about the doom and gloom and then we'll talk about

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Speaker 1: the hope. But anyway, um Brady, just give us a

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Speaker 1: little bit of background on on what you're doing so

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Speaker 1: kind of people get a reference of that. Yeah, absolutely so.

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Speaker 1: I am head of education at Swan Bitcoin. We launched

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Speaker 1: about fifteen months ago, fourteen months ago something like that,

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Speaker 1: so we're still relatively new on the scene, but we

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Speaker 1: are the easiest, fastest, safest way to accumulate bitcoin. We

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Speaker 1: have automatic recurring buys, instant buys, we can do wire

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Speaker 1: buys up the ten million dollars. We're kind of engine

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Speaker 1: air way out toward the international scene right now. We're

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Speaker 1: just focused on the United States. So that's what we do.

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Speaker 1: We and as my title suggests, were really focused on

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Speaker 1: providing bitcoin education. We think that the more you learn

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Speaker 1: about bitcoin, the more comfortable you are, you know, buying bitcoin,

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Speaker 1: accumulating it, developing that conviction. Uh So we have to

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Speaker 1: that extent, published a bunch of you know, blog content,

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Speaker 1: We published on YouTube. We have a couple of weekly shows,

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Speaker 1: one called Swan Signal Live, on which you've been a

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Speaker 1: couple of times. Were repair up guests and and talk

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Speaker 1: about economics and bitcoin. We also do Swan Lounge, just

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Speaker 1: kind of a fun hangout show on Fridays. We're really

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Speaker 1: ramping up the YouTube show. Of course, we published those podcasts, Um,

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Speaker 1: we have a book coming out, we published an e books,

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Speaker 1: were doing webinars, So we just do a bunch of

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Speaker 1: educational content and that's really our focus. We try to

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Speaker 1: make most of our marketing efforts educational. Yeah. I love

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Speaker 1: that for so many reasons. And one of the biggest

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Speaker 1: reasons I love that is because, um, you know, in

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Speaker 1: order to I always help people before you buy anything,

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Speaker 1: you didn't know what it is that you're doing, Like

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Speaker 1: why am I buying this? And what am I expecting?

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Speaker 1: And and all that comes to education, right, It all

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Speaker 1: comes to education. Um, you know, education is the edge,

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Speaker 1: right that that's the edge that you can get. But also,

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Speaker 1: like with perspective, by the time this video goes out,

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Speaker 1: you'll have seen a new video on YouTube that I

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Speaker 1: just finished recording. And I was talking about historical narrative

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Speaker 1: of of the Weimar republican Germany and uh, how that

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Speaker 1: inflation crept up on them and what happened, And I

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Speaker 1: used that and then I pulled the narrative, and I'm

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Speaker 1: not gonna spoil it. But the reason why I showed

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Speaker 1: that is because people thought, oh, if I would have

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Speaker 1: just you know, bought here and sold here, I would

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Speaker 1: have made a bunch of money. But you didn't understand.

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Speaker 1: If you didn't understand what was really going on, if

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Speaker 1: you weren't educated, it wasn't a smooth ride and you

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Speaker 1: would have gotten shaken out. And so, UM, education is

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Speaker 1: that edge. UM. I also like to say, I'll plug

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Speaker 1: one thing. Um. You know, I think we have one

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Speaker 1: of the biggest asymmetric opportunities in the world in front

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Speaker 1: of us and you that's more upside than downside. And

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Speaker 1: the way you get asymmetrical upside is through having asymmetric information.

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Speaker 1: And so I'm working with Swan. I have a new

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Speaker 1: email going out and I'll put a link to it

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Speaker 1: down below. You can sign it from my email. UM.

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Speaker 1: It's called the asymmetric edge, and it gives you that

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Speaker 1: information you need. So I'm gonna just plug that real quick.

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Speaker 1: We're talking about it, but let's dig into this historical narrative. UM.

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Speaker 1: And I always try to bring that forward and what

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Speaker 1: does that tell us about the future? And so we're

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Speaker 1: gonna kind of talk about this this Renaissance two point oh,

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Speaker 1: where we both agree. I think let's see the same

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Speaker 1: future that there's massive prosperity in front of us. But

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Speaker 1: going back right we I think there's a historical narrative

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Speaker 1: between like the Roman Empire, the Dark Ages and into

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Speaker 1: the next the Renaissance Age and Enlightening age. Um, that

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Speaker 1: is is kind of a good analogy of where we

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Speaker 1: at and where we're going. Why don't you kind of

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Speaker 1: set that up for us? Hey, guys, let me just

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Speaker 1: interrupt this interview real quick, just to plug the show sponsor,

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Speaker 1: and that is Block five. Now. Block five is doing

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Speaker 1: amazing things in the bitcoin finance space. As a matter

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Speaker 1: of fact, they've cracked some really big news by bringing

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Speaker 1: on the x c ftc UM chair Chris gian Carlo Um.

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Speaker 1: And they are one of the most transparent, most heavily

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Speaker 1: regulated UM companies inside the United States, which gives me

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Speaker 1: a lot of trust into what their services are. Now,

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Speaker 1: I've recently did a video talking about how to retire

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Speaker 1: off bitcoin, and you can do that by leveraging debt

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Speaker 1: and interest against bitcoin. And Block five is the number

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Speaker 1: one company in the United States or maybe in the

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Speaker 1: world to go to and use UM. They are leading

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Speaker 1: the charges, are paying interest on your bitcoin if you

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Speaker 1: park it with them, or you can borrow against it. Now,

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Speaker 1: as I broke down in that video, you can borrow

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Speaker 1: against your bitcoin, and when you take debt against it,

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Speaker 1: it's not taxable. It's not a taxable event. You can

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Speaker 1: use that debt for anything that you want, including to

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Speaker 1: live off of, to leverage up and buy more, or

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Speaker 1: roll it into another asset. UM you can do something

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Speaker 1: like I've done recently, like sell some real estate put

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Speaker 1: that money into bitcoin. Now as that bitcoin price has risen,

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Speaker 1: I'm able to borrow against it and go back and

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Speaker 1: buy the same real estate or something similar, and I

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Speaker 1: still own the bitcoin, and I also own the new

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Speaker 1: asset as well. Lots of ways you can do this

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Speaker 1: UM and Block five is the company that I recommend.

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Speaker 1: Down in the description, I have a link that you

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Speaker 1: can click on. If you choose to use that link,

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Speaker 1: you can earn up the two fifty dollars in bitcoin

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Speaker 1: just for using that link. So check out block fine now.

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Speaker 1: Absolutely so. I mean the era that we're in right

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Speaker 1: now is not uh an aberration of history. We've had

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Speaker 1: eras of fiat money all throughout history. We've had eras

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Speaker 1: of sound money all throughout history, and it's a pendulum

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Speaker 1: that sort of swings back and forth, and studying that

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Speaker 1: history really gives us some insight into what's coming next.

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Speaker 1: Uh And and so one of the eras that I

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Speaker 1: have really liked to take a look at is the

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Speaker 1: Roman Empire. And one of the things I've learned through

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Speaker 1: studying bitcoin is that money is the foundation of civilization.

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Speaker 1: It is the way that we advance civilization. We create

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Speaker 1: technologies because we communicate our needs are wants to other people,

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Speaker 1: and those The way that we effectively and efficiently communicate

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Speaker 1: those needs and wants, especially over long distances of space

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Speaker 1: and and and over time, is the accumulate generation after

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Speaker 1: generation is with money. It was with prices. So we

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Speaker 1: set of value on certain solutions um by a price

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Speaker 1: at a price, and we establish that price. So that's

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Speaker 1: really a communication. It's a language, and that language lays

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Speaker 1: the foundation of our civilization, the way we advance over time. Um.

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Speaker 1: So the quality of our money matters very much. And

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Speaker 1: of course when we talk, when we keep in mind,

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Speaker 1: of course I'm not as we're talking about this, there's

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Speaker 1: a lot of variables that go into the you know,

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Speaker 1: rise and fall of empires. But like I said, this

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Speaker 1: is the foundational costs, right, uh and so and and

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Speaker 1: that's because just just a dig and and just a

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Speaker 1: dig in. Sorry interrupt, but I just just kind of

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Speaker 1: help you, help you set that base. Um, if if

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Speaker 1: price signal, if money works as price signal, and that

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Speaker 1: is communication and so of course it's it's obvious to

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Speaker 1: anybody that if you can't communicate properly, you can't coordinate

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Speaker 1: and you can't grow. And so um that's why countries

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Speaker 1: are formed and they have their own language and they

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Speaker 1: can all work together. Um. And so that's just uh yeah,

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Speaker 1: so when when that communication gets messed up, then you

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Speaker 1: can't function together. Yeah, exactly. Yeah, it's just it's more

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Speaker 1: efficient to have one language when it comes to markets

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Speaker 1: and economies. And uh, you know that's sort of the

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Speaker 1: Tower of Babbel story from the Bible. And this era

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Speaker 1: where we've had you know, nationally enforced fiat moneys, it's

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Speaker 1: hasn't allowed the global economy to operate efficiently. There's just

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Speaker 1: these there's a lot of noise in the signal. And

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Speaker 1: the promise of bitcoin is that we're going to really

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Speaker 1: make that signal a lot clearer, and we have you know,

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Speaker 1: the technology it's built upon is a global communications technology.

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Speaker 1: And not coincidentally, not coincidentally, uh, the way that the

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Speaker 1: language of money is now going to be spread instantaneously

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Speaker 1: across the world and the same same voice, the same language,

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Speaker 1: the same code, I think, will you know lead to

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Speaker 1: what we're gonna you know, talk about here is is

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Speaker 1: the Renaissance. UM. So let's let's look at the Roman

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Speaker 1: Empire as kind of instructive and then going through the

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Speaker 1: Middle Ages and then to the Renaissance. So the Roman

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Speaker 1: Empire was extremely successful, um. And it was based on

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Speaker 1: a money called the It was a gold coin called

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Speaker 1: the arias, and this was sort of the international settlement money. Uh.

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Speaker 1: And it was first minted by Julius Caesar uh and

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Speaker 1: it uh it was eight grams of pure gold UM.

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Speaker 1: And eventually over time it became uh, you know, there

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Speaker 1: was a decision made by a Roman emperor to reduce

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Speaker 1: it to six point five grams of gold. That was

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Speaker 1: at the kind of the beginning of the second century

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Speaker 1: to fund empirical expansion and wars. And then it was

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Speaker 1: replaced by a four point five Graham uh solidus uh

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Speaker 1: where they renamed the coin because they had debased it. Um.

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Speaker 1: So the purity of the coin itself, the purity of

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Speaker 1: it was never debased, but the weight of it was

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Speaker 1: debased as government spending the end outpacing revenues. Uh. And

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Speaker 1: this went on for centuries. Now, there was a compliment

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Speaker 1: to these gold coins. And like I said, those gold

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Speaker 1: coins were international settlement, big nation states and empire settling

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Speaker 1: between each other, large merchants, etcetera. But there was a

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Speaker 1: silver coin for your you know, everyday person. And Um,

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Speaker 1: the you know, deflation or debasement of the gold coins,

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Speaker 1: the arias and the lead is really paled in comparison

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Speaker 1: to what happened to the denarius, which you know, makes

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Speaker 1: makes sense. It's sort of a cancel on effect. The

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Speaker 1: money that you know, the everyday guy was was using

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Speaker 1: suffered the most debasement. And we're seeing that today as well.

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Speaker 1: Yeah so so um, and then and then tell us

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Speaker 1: about the let's let's talk about the innarius then I

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Speaker 1: want to dig into that a bit. So then the

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Speaker 1: denarius with the silver coin, and I mean the same

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Speaker 1: thing happened where that got debased and um, yeah, I

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Speaker 1: guess the parallel that I'd like to pull just from

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Speaker 1: this segment before we keep going so people can understand

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Speaker 1: its historical narrative is that most people probably know about

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Speaker 1: the Roman Empire and they you know, basically kind of

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Speaker 1: took over the world at that point at that point

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Speaker 1: in time, and uh, as they needed to continue to grow,

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Speaker 1: to continue to increase their empire, they needed more money, right,

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Speaker 1: but they didn't have any more money. So what did

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Speaker 1: they do. They debased it, which means they took a

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Speaker 1: big coin and made it a small coin. By making

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Speaker 1: it smaller, they got more. The same thing happened with

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Speaker 1: the denarius, right, it used to be full silver than

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Speaker 1: it was silver, which gave them ten percent more money,

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Speaker 1: et cetera. And so the narrative that I like to

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Speaker 1: pull that historical reference is just that they needed more

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Speaker 1: money to expand the empire and continue their social programs.

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Speaker 1: They didn't have it, so they just made the money

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Speaker 1: worth less and less and less. And so we obviously

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Speaker 1: you can see that parallel today absolutely, yeah, uh, you know,

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Speaker 1: just don't have the revenues coming in, and taxes are

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Speaker 1: unpopular and they were back then as well, led to

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Speaker 1: uprisings and a lot of complaints and um. So the

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Speaker 1: easier way to tax, the easier way to raise more revenue,

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Speaker 1: revenue for the government or the empire, is just to

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Speaker 1: debase the money. Uh. And that sort of um instidious

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Speaker 1: tax is a lot easier to kind of sneak past

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Speaker 1: the populace. Um. Yeah. So the denarius began as four

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Speaker 1: and a half grams of silver, and it stayed that

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Speaker 1: way for centuries under the Roman Empire. And this helped,

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Speaker 1: you know, not coincidentally, it was a fundamental It was

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Speaker 1: a foundation of civilization for the Roman Empire, and it

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Speaker 1: was very healthy for trade, for commerce, for artisans, producers

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Speaker 1: of solutions to the needs and wants of other Roman citizens. Um.

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Speaker 1: And they could rely on that to be a consistent

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Speaker 1: measurement of value over over centuries. So um as Rome.

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Speaker 1: As Rome began to grow, the Roman Empire began to grow. Uh.

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Speaker 1: Kind of started at the top of the debasement of

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Speaker 1: the arius. Um. But then base metals started being combined.

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Speaker 1: This another way to debase money. Base medals that were

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Speaker 1: more common uh in in the in I guess the

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Speaker 1: Earth's surface. Then silver began to be mixed in with

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Speaker 1: the coins, so they would have copper cores for instance,

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Speaker 1: or they would be blended with silver. UM. And so

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Speaker 1: throughout the first century the UH A D. The denarius

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Speaker 1: was debased in just a hundred years by over uh

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Speaker 1: so Uh it was by three fifty a d. It

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Speaker 1: was all but worthless. Um had an exchange rate of

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Speaker 1: four million, six hundred thousand denarius to a gold's ladus.

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Speaker 1: So they experienced what you talked about in your previous video. Inflation.

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Speaker 1: Weimar Republic like inflation caused economic chaos. Uh. And the

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Speaker 1: population of Rome, which was at one point a peak

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Speaker 1: of about a million inhabitants probably uh, if not you know,

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Speaker 1: the largest city on the planet, if not the you know,

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Speaker 1: if not the largest, there was probably some competition from

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Speaker 1: from eastern empires as well. But UM, by the fifth century,

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Speaker 1: hundred hundred and fifty years after the hyper inflation the denarius,

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Speaker 1: it was down to fifty thousand people. Uh, it really

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Speaker 1: just destroyed the empire. And UH. One phrase that I

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Speaker 1: like from this era, UH to use is it comes

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Speaker 1: from is bread and circuses, and it means that it

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Speaker 1: came from a poet, a Roman poet. It means offerings

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Speaker 1: like benefits, or entertainments that are intended to placate you know,

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Speaker 1: the discontent, um, and the uh you know, the I

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Speaker 1: guess just distract from the policies and failures economically and

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Speaker 1: monetarily that the empire is inflicted. Yeah, that's a great

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Speaker 1: that's that's a great piece to kind of kind of

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Speaker 1: stop right there, because, um, kind of get that historical

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Speaker 1: perspective again. So the Roman, the Roman Republic saw massive prosperity.

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Speaker 1: They had a good sound money, They were able to

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Speaker 1: freely trade, which allowed people to specialize and get good

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Speaker 1: at what they were doing. So then there was you know,

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Speaker 1: all these new things that were created and in mentions whatnot.

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Speaker 1: But as the Roman Empire started to decline, debasing their currency,

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Speaker 1: they started falling apart, not just from a monetary standpoint,

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Speaker 1: but even from a societal standpoint. And so to your

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Speaker 1: point about the bread and circuses, Um, the government changed

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Speaker 1: to where they used to rotate in and out all

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Speaker 1: the time to keep people kind of fresh. And then

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Speaker 1: they got to lifetime politicians and we saw massive corruption

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Speaker 1: that started happening. Yeah sound familiar. Um, Then we had

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Speaker 1: lots of people that had you know, money problems, and

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Speaker 1: they were very unhappy, and so they created these bread

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Speaker 1: and circuses, bread being welfare, circuses being entertainment. Well, we

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Speaker 1: give the people bread and we keep them entertained. Maybe

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Speaker 1: we'll keep them at bay a little bit. And does

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Speaker 1: that sound familiar again, right? Um So that's a good

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Speaker 1: historical perspective. And then what happened after that, Well that

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Speaker 1: was we plunged into the Dark Ages after that and uh,

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Speaker 1: you know, the the empire broke up. Uh, the sort

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Speaker 1: of knowledge of why that happened was sort of lost

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Speaker 1: to history. Uh. And the ideas of of money, Uh,

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Speaker 1: we're sort of we're sort of lost. There was all

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Speaker 1: kinds of infighting. Uh, the you know, ability to establish

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Speaker 1: commerce again was took took quite quite some time. Um So,

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Speaker 1: so yeah, it was. It was, you know, obviously a

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Speaker 1: dark time. It's called the Dark Ages for a reason. Uh.

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Speaker 1: And then we emerged from it and we can we

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Speaker 1: can talk about some of the reasons why the Renaissance

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Speaker 1: was able to be born. Yeah, yeah, I want to

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Speaker 1: talk about that. Um So, just real quick onto that

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Speaker 1: Dark Ages. You know, Rome was basically taken over by

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Speaker 1: the barbarians and I think they just destroyed everything. So

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Speaker 1: all that literature and all that history that kind of

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Speaker 1: showed why it was great and how it was great

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Speaker 1: before it was kind of lost. Um. So history was destroyed.

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Speaker 1: History was lost. Um. And then almost like people didn't

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Speaker 1: have a template, they didn't know what to do. There

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Speaker 1: was no no good historical references. And again another historical references.

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Speaker 1: I mean, it's kind of easy to see how history

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Speaker 1: is kind of being rewritten, like histories under attack right now, um.

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Speaker 1: And that and that that's bad because that's our guide,

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Speaker 1: um as we can see from the Roman Empire going

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Speaker 1: to the Dark Ages. So that's another great historical reference

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Speaker 1: I think. And then with all that information, all that

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Speaker 1: education gone, they didn't know what to do and they

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Speaker 1: basically had to rediscover it all again. So they kind

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Speaker 1: of had to start all over with no frame of reference.

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Speaker 1: Um so and yeah, go ahead and uh and keep

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Speaker 1: it going. Yeah. So it was born again in Italy,

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Speaker 1: so which which makes sense that the core of that

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Speaker 1: knowledge sort of the embers of the fallen Roman Empire

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Speaker 1: were still sort of burning in in the you know,

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Speaker 1: in Italy and in the area. And uh so in

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Speaker 1: in medieval Renaissance, the Medieval Renaissance, the Florin was born

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Speaker 1: and these sort of these families that we know of,

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Speaker 1: like the Medici's, these big banking families, they eventually invented

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Speaker 1: modern banking. They were merchants and they either rediscovered or somehow,

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Speaker 1: you know, through some uh you know, beneficial like happenstance

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Speaker 1: of history, were able to rediscover this idea of sound

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Speaker 1: money and how important it was. So that the thing

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Speaker 1: here I think that's uh crucialton note, is that the

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Speaker 1: Medici's understood very clearly, uh, the value of sound money

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Speaker 1: and maintaining the measurement the signal of that value over generations,

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Speaker 1: so the floor and it was stable for three hundred years,

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Speaker 1: and this was the foundation of the Renaissance civilization. It

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Speaker 1: was used widely beyond the borders of the Republic of Florence.

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Speaker 1: It was the most trusted money. Uh. It became reliable,

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Speaker 1: you know, because people far and wide knew that the

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Speaker 1: florin was going to be worth the same amount now

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Speaker 1: as it will be in ten or fifteen or twenty years.

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Speaker 1: It was a reliable store of value. That's what made

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Speaker 1: it the best money. Yeah. So another thing that I

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Speaker 1: like to look at from that kind of period that

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Speaker 1: kind of helped usher in that change also was you

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Speaker 1: had kind of a new technology, so technological revolutions. I'm

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Speaker 1: kind of working on a thesis on that, UM. And

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Speaker 1: we had the invention of the printing press ye. And

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Speaker 1: with the invention of the printing press, we were able

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Speaker 1: to start getting information out to people that typically wouldn't

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Speaker 1: have ever gotten that information. And so I think I

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Speaker 1: think there's two key pieces there that I like to

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Speaker 1: look at. One it was this decentralization of information. Whereas

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Speaker 1: before information was centrally controlled and had to kind of

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Speaker 1: just be told, spoken or passed down. But all of

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Speaker 1: a sudden, now it could be decentralized and spread out

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Speaker 1: to everybody. Everybody got the information UM. And then then

365
00:20:27,359 --> 00:20:29,960
Speaker 1: that you know, that just kind of snowballed, where now

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Speaker 1: there was exchange of free ideas and people built on

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Speaker 1: top of that UM. And then you got the sound

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Speaker 1: money again, which UM one gave people that kind of

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Speaker 1: that good communication again. But also I think the key

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Speaker 1: piece was that because it was globally accepted, it opened

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Speaker 1: up free trade. So UM, it expanded the amount of

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Speaker 1: free trade and communication and information and ideation and all

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Speaker 1: these things. And so with the information and the sound money,

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Speaker 1: it was just an explosion. Yeah, yeah, absolutely, and that

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Speaker 1: was that's an you know, it's it comes down to language, right, uh,

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Speaker 1: and being able to communicate to one another in such

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00:21:09,040 --> 00:21:13,360
Speaker 1: such broadly like that in such a broader way made

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Speaker 1: a massive difference. And that comes down to basically the

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Speaker 1: power of language to travel far and wide, and money

380
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Speaker 1: is just a form of language, the way to communicate value.

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Speaker 1: So um, being able to you know, for sound money

382
00:21:28,600 --> 00:21:32,280
Speaker 1: to reach far and wide was really enabled just a

383
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Speaker 1: flowering explosion of blossoming of commerce all over Europe. Uh.

384
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Speaker 1: And eventually we saw you know, other very prosperous uh,

385
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Speaker 1: you know, merchant cities uh in the Netherlands and Germany,

386
00:21:48,200 --> 00:21:53,240
Speaker 1: eventually in Britain, uh, Spain. So all over Europe, centers

387
00:21:53,280 --> 00:21:57,400
Speaker 1: of commerce grew through the trade of free ideas and

388
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Speaker 1: the trade based on trade based on sound money. And

389
00:22:00,920 --> 00:22:04,600
Speaker 1: now there are other currencies, but eventually the settlement currency

390
00:22:05,280 --> 00:22:09,000
Speaker 1: among you know, large merchants and even even um, you know,

391
00:22:09,440 --> 00:22:14,120
Speaker 1: in some cases everyday people was the fort Yeah. Yeah.

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00:22:14,160 --> 00:22:15,919
Speaker 1: And I think, you know, for people that haven't studied

393
00:22:15,920 --> 00:22:18,040
Speaker 1: this at link like we have, you know for years,

394
00:22:18,320 --> 00:22:21,480
Speaker 1: sometimes they don't realize like how deep this really goes

395
00:22:22,119 --> 00:22:24,879
Speaker 1: um where it's like, okay, you had a sound money, Okay, whatever, right,

396
00:22:24,920 --> 00:22:27,840
Speaker 1: but like they don't understand like all the effects of

397
00:22:27,960 --> 00:22:31,040
Speaker 1: money and like what sound money is and so um

398
00:22:31,080 --> 00:22:34,000
Speaker 1: it really comes down to, you know, when I have

399
00:22:34,119 --> 00:22:36,919
Speaker 1: a way to store my energy to be used at

400
00:22:36,960 --> 00:22:41,320
Speaker 1: a later date, Um, it changes my mindset, so I

401
00:22:41,320 --> 00:22:44,200
Speaker 1: have like this longer term perspective. But then it allows

402
00:22:44,200 --> 00:22:47,399
Speaker 1: me to go pursue other things that could be of

403
00:22:47,440 --> 00:22:50,280
Speaker 1: benefit to other people. So I could invent a new

404
00:22:50,320 --> 00:22:53,240
Speaker 1: you know, a new technology or or whatever. And then

405
00:22:53,359 --> 00:22:57,119
Speaker 1: because that that that money, that communication is universal. So

406
00:22:57,320 --> 00:23:00,080
Speaker 1: just like you know, English and Spanish don't match up it,

407
00:23:00,280 --> 00:23:03,120
Speaker 1: but the money does, right, And so um, now you're

408
00:23:03,200 --> 00:23:06,520
Speaker 1: sharing those ideas with even more people. So if I'm

409
00:23:06,560 --> 00:23:09,280
Speaker 1: forced to just you know, work twelve hours a day

410
00:23:09,359 --> 00:23:12,200
Speaker 1: just to survive and get my food and get my clothes,

411
00:23:12,480 --> 00:23:15,280
Speaker 1: I don't have any time to communicate and share ideas

412
00:23:15,320 --> 00:23:18,400
Speaker 1: and invent. But when I can. Um, it's just it's

413
00:23:18,440 --> 00:23:22,440
Speaker 1: just hard to even comprehend or state like how powerful

414
00:23:22,480 --> 00:23:26,879
Speaker 1: that is. Yeah, it's you know, it's again that's how

415
00:23:26,920 --> 00:23:30,119
Speaker 1: civilization advances, and the faster that can happen, the more

416
00:23:30,119 --> 00:23:34,360
Speaker 1: efficiently that can happen, the faster civilization can advance and how,

417
00:23:34,440 --> 00:23:38,000
Speaker 1: and the faster it can spread to everyone. Right, we

418
00:23:38,040 --> 00:23:41,600
Speaker 1: often say that the futures here, it's not evenly distributed yet. Um.

419
00:23:41,680 --> 00:23:43,480
Speaker 1: That's been the case for a long time. And there's

420
00:23:43,520 --> 00:23:46,439
Speaker 1: still lots of people around the world that are waiting

421
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Speaker 1: for the benefits of technologies that have been around for

422
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Speaker 1: decades that you know, more privileged societies that access to

423
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Speaker 1: and what we're seeing now with like the Internet and

424
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Speaker 1: what I hope will happen, you know and be aided by,

425
00:24:00,359 --> 00:24:09,920
Speaker 1: uh by bitcoin is the access to the means of

426
00:24:09,920 --> 00:24:13,040
Speaker 1: of make taking advantage over the information that's available in

427
00:24:13,520 --> 00:24:17,400
Speaker 1: you know, a growing number of pockets you know, literal pockets,

428
00:24:17,480 --> 00:24:20,439
Speaker 1: people's pockets around the world. Uh in the form of

429
00:24:20,600 --> 00:24:23,760
Speaker 1: you know, Internet enabled devices. UM. So these these people

430
00:24:23,800 --> 00:24:27,400
Speaker 1: will have a way now to receive money through those

431
00:24:27,440 --> 00:24:30,520
Speaker 1: devices over the Internet that they will actually be able

432
00:24:30,560 --> 00:24:34,840
Speaker 1: to hold, you know, in a self sovereign way and

433
00:24:34,960 --> 00:24:38,200
Speaker 1: not and know that it's not going to be debased confiscated,

434
00:24:38,480 --> 00:24:42,719
Speaker 1: and they can rely on it to grow some wealth

435
00:24:43,080 --> 00:24:46,880
Speaker 1: for their family and and pass it along and make

436
00:24:46,920 --> 00:24:49,560
Speaker 1: your family richer and richer over time. And this is

437
00:24:50,000 --> 00:24:52,520
Speaker 1: what we used to call the American dream. This is

438
00:24:52,560 --> 00:24:54,879
Speaker 1: the first generation now I think in the history of

439
00:24:54,880 --> 00:24:58,800
Speaker 1: America that will be uh financially in terms of wealth,

440
00:24:59,440 --> 00:25:03,520
Speaker 1: worse off than the previous generation. So um, yeah, that's

441
00:25:03,560 --> 00:25:06,800
Speaker 1: not the way it's supposed to be. Hey, sorry to

442
00:25:06,840 --> 00:25:09,440
Speaker 1: interrupt this video just one more time. I'm not running

443
00:25:09,480 --> 00:25:11,960
Speaker 1: Google ads. So it's actually way less interruption than I

444
00:25:12,040 --> 00:25:14,160
Speaker 1: normally would have on a video. Um. And that's because

445
00:25:14,160 --> 00:25:17,639
Speaker 1: it's sponsored by block five. Um. They are opening up

446
00:25:17,680 --> 00:25:20,600
Speaker 1: the world of bitcoin and financial products offering to pay

447
00:25:20,640 --> 00:25:23,879
Speaker 1: you interest on your bitcoin. Um. Better than own in

448
00:25:23,880 --> 00:25:25,960
Speaker 1: a rental property that you have to manage and control

449
00:25:25,960 --> 00:25:27,760
Speaker 1: and have the risks. You can just earn interest on it,

450
00:25:27,920 --> 00:25:30,840
Speaker 1: or you can leverage against it. Now, I plan to

451
00:25:30,880 --> 00:25:34,520
Speaker 1: hold my bitcoin forever and literally never sell my bitcoin.

452
00:25:34,560 --> 00:25:36,639
Speaker 1: So how do you do that? Well, if I need money,

453
00:25:36,760 --> 00:25:38,600
Speaker 1: I don't want to sell that bitcoin. I'm gonna pay

454
00:25:38,600 --> 00:25:40,520
Speaker 1: tax on it, all right, I'm gonna end up with

455
00:25:40,600 --> 00:25:43,119
Speaker 1: less and I don't have the bitcoin anymore. So a

456
00:25:43,160 --> 00:25:45,760
Speaker 1: better way to do it is to borrow against the bitcoin.

457
00:25:46,000 --> 00:25:48,159
Speaker 1: So I've put all my money into bitcoin. If I

458
00:25:48,160 --> 00:25:49,800
Speaker 1: want to buy a car, or I want to buy

459
00:25:49,800 --> 00:25:52,880
Speaker 1: a house, I can borrow against it at very very

460
00:25:52,920 --> 00:25:55,639
Speaker 1: low competitive rates. Get my house, get my car, whatever

461
00:25:55,640 --> 00:25:58,360
Speaker 1: that may be, and get to keep the bitcoin. I've

462
00:25:58,359 --> 00:26:00,679
Speaker 1: done a whole video on this. You can find it.

463
00:26:00,680 --> 00:26:02,639
Speaker 1: I'll link it down to the description below, how to

464
00:26:02,800 --> 00:26:05,160
Speaker 1: retire off a bitcoin without paying taxes, and you can

465
00:26:05,200 --> 00:26:07,960
Speaker 1: do that with block fight Services' link to the video

466
00:26:07,960 --> 00:26:09,440
Speaker 1: down below. I'm also going to put a link to

467
00:26:09,480 --> 00:26:11,360
Speaker 1: block fight. If you choose to click on that link

468
00:26:11,359 --> 00:26:12,919
Speaker 1: to check them out. You can earn up to two

469
00:26:13,240 --> 00:26:15,640
Speaker 1: fifty dollars in free bitcoin just for using that link.

470
00:26:15,960 --> 00:26:17,520
Speaker 1: And that's it. Let's go ahead and get back to

471
00:26:17,600 --> 00:26:19,600
Speaker 1: the interview. So if we go back and take some

472
00:26:19,640 --> 00:26:21,720
Speaker 1: of those historical reference we kind of set up and

473
00:26:21,720 --> 00:26:23,400
Speaker 1: then kind of look at how that fits kind of

474
00:26:23,720 --> 00:26:27,800
Speaker 1: into more now times. One thing that catches me is that,

475
00:26:27,960 --> 00:26:30,320
Speaker 1: you know, um, like I said, the Roman Empire kind

476
00:26:30,320 --> 00:26:31,920
Speaker 1: of had this figure it out, and then the Barbarians

477
00:26:31,960 --> 00:26:33,680
Speaker 1: kind of destroyed all that and they kind of lost

478
00:26:33,680 --> 00:26:36,119
Speaker 1: their way. And I look at like stuff like the

479
00:26:36,160 --> 00:26:40,280
Speaker 1: Founding Fathers wrote down for us, like they told us,

480
00:26:40,320 --> 00:26:44,600
Speaker 1: they put down warnings and they were so smart, right,

481
00:26:44,640 --> 00:26:46,520
Speaker 1: they didn't have they didn't have the Internet, and they

482
00:26:46,520 --> 00:26:49,000
Speaker 1: didn't have social media. So all they did was sit

483
00:26:49,160 --> 00:26:52,040
Speaker 1: and read and like converse all day. And so they

484
00:26:52,040 --> 00:26:55,120
Speaker 1: had all this time to think about philosophy, and they studied,

485
00:26:55,119 --> 00:26:58,080
Speaker 1: you know, Greek and Roman history. But um, like I said,

486
00:26:58,119 --> 00:27:00,840
Speaker 1: they left all these warnings for us, and it seems

487
00:27:00,880 --> 00:27:04,080
Speaker 1: like we've lost our way, We've lost all that information

488
00:27:04,160 --> 00:27:09,200
Speaker 1: and and maybe even purposely not being shared. Yeah. Perhaps,

489
00:27:09,800 --> 00:27:14,520
Speaker 1: certainly because there's a lot of power in the uh,

490
00:27:14,600 --> 00:27:18,480
Speaker 1: in the printing press and controlling it. So yeah, certainly

491
00:27:18,520 --> 00:27:24,480
Speaker 1: would be massive incentive to keep that information away from

492
00:27:24,920 --> 00:27:27,280
Speaker 1: the general public. I think, I think I can't remember

493
00:27:27,280 --> 00:27:30,399
Speaker 1: who it was. Maybe it was Henry Ford who said

494
00:27:30,440 --> 00:27:34,000
Speaker 1: that if people understood the way the banking system worked,

495
00:27:34,000 --> 00:27:38,680
Speaker 1: they'd be rights in the street by tomorrow morning. Right.

496
00:27:39,160 --> 00:27:44,600
Speaker 1: Uh So, so yeah, there's the founding fathers. Um, there

497
00:27:44,600 --> 00:27:49,760
Speaker 1: were many of them who were adamantly against central control

498
00:27:49,800 --> 00:27:54,439
Speaker 1: of money, adamantly against paper money, I mean, because they

499
00:27:54,520 --> 00:27:59,359
Speaker 1: knew that by allowing someone to print paper money that

500
00:27:59,480 --> 00:28:02,960
Speaker 1: it would be easily debased. George Washington wrote a letter

501
00:28:03,040 --> 00:28:08,080
Speaker 1: to Thomas Jefferson about just in very very stark language,

502
00:28:08,119 --> 00:28:11,280
Speaker 1: basically that you know, paper money has done, you know,

503
00:28:11,480 --> 00:28:14,960
Speaker 1: ever as it will do in your colony, basically your

504
00:28:15,000 --> 00:28:17,359
Speaker 1: state before it was a state then, which is to

505
00:28:18,040 --> 00:28:21,159
Speaker 1: lead to every uh down every road of ruin u

506
00:28:21,400 --> 00:28:25,520
Speaker 1: you know. So yeah, there's there's Alexander Hamilton's as well. Um,

507
00:28:25,640 --> 00:28:29,360
Speaker 1: so very much against central banking. There was heated debates

508
00:28:29,400 --> 00:28:33,320
Speaker 1: about including it in the constitution to forbid central banking.

509
00:28:33,320 --> 00:28:36,360
Speaker 1: It didn't happen, um, And we went back and forth.

510
00:28:36,359 --> 00:28:40,920
Speaker 1: There were wars, you know, basically major battles, intellectual battles

511
00:28:40,920 --> 00:28:45,520
Speaker 1: and sometimes even physical battles over the establishments and uh,

512
00:28:45,640 --> 00:28:50,200
Speaker 1: you know, the destruction of central banking up until nineteen

513
00:28:50,240 --> 00:28:54,680
Speaker 1: thirteen when when we've you know, established at a reserve. Yeah. Yeah,

514
00:28:54,720 --> 00:28:56,640
Speaker 1: if you study that history, you'll see that the central

515
00:28:56,680 --> 00:29:00,840
Speaker 1: bank was established and destroyed multiple time were finally took hold,

516
00:29:00,880 --> 00:29:03,680
Speaker 1: as you said in nine and yeah, so many quotes

517
00:29:03,680 --> 00:29:05,000
Speaker 1: I can't remember them off the top of my head,

518
00:29:05,000 --> 00:29:07,720
Speaker 1: but I mean I think Jefferson said like central banks

519
00:29:07,720 --> 00:29:11,240
Speaker 1: were more dangerous than standing armies. Uh. We talked about

520
00:29:11,280 --> 00:29:15,040
Speaker 1: how it would enslave us, how would enslave our children? Um.

521
00:29:15,040 --> 00:29:16,680
Speaker 1: And so they told us and they warned us and

522
00:29:16,680 --> 00:29:18,440
Speaker 1: now here we are trying to figure this out again,

523
00:29:18,520 --> 00:29:22,200
Speaker 1: so kind of like like what happened? But um, now

524
00:29:22,320 --> 00:29:25,920
Speaker 1: shifting to a little bit of hope. UM, I think

525
00:29:26,040 --> 00:29:29,480
Speaker 1: we are starting to see this new renaissance two point

526
00:29:29,480 --> 00:29:32,640
Speaker 1: oh setting up and and it does give me great hope. Um,

527
00:29:32,720 --> 00:29:34,400
Speaker 1: one of the big catalysts. So if we go back,

528
00:29:34,600 --> 00:29:36,840
Speaker 1: I think the two pieces from the Dark Ages to

529
00:29:36,840 --> 00:29:42,440
Speaker 1: the Renaissance were both information education and sound money. And

530
00:29:42,520 --> 00:29:45,360
Speaker 1: so if we look at the information education piece, I

531
00:29:45,360 --> 00:29:47,600
Speaker 1: think we have Um. You know, we had the explosion

532
00:29:47,600 --> 00:29:49,840
Speaker 1: of the Internet, which is kind of similar to the

533
00:29:49,840 --> 00:29:53,320
Speaker 1: printing press, and the printing press kind of preceded the renaissance,

534
00:29:53,400 --> 00:29:56,720
Speaker 1: sort of like the Internet has preceded what's happening. But

535
00:29:56,840 --> 00:29:59,960
Speaker 1: you know, we're seeing people, I mean people are watching

536
00:30:00,120 --> 00:30:02,400
Speaker 1: this right now, like what the heck? Like why are

537
00:30:02,400 --> 00:30:05,440
Speaker 1: people interested in this? People are using the word fiat,

538
00:30:05,720 --> 00:30:08,640
Speaker 1: Like nobody used the word fiat before, right, nobody cared

539
00:30:08,680 --> 00:30:11,160
Speaker 1: about the history of money. But all of a sudden,

540
00:30:11,200 --> 00:30:14,560
Speaker 1: now there's a renewed interest that I'm excited for, and

541
00:30:14,640 --> 00:30:18,240
Speaker 1: there's this free flow of ideas. And I know you're

542
00:30:18,280 --> 00:30:20,080
Speaker 1: your head of education, I mean, you're you you're on

543
00:30:20,120 --> 00:30:22,680
Speaker 1: it even more than I am, so let's talk about that. Well,

544
00:30:22,800 --> 00:30:28,719
Speaker 1: we're both educators, Mark, but yeah, it's it is an

545
00:30:28,760 --> 00:30:32,480
Speaker 1: amazing time in that sense, the free flow of ideas,

546
00:30:32,520 --> 00:30:38,920
Speaker 1: the freedom of information is incredibly important to individual freedom.

547
00:30:39,000 --> 00:30:42,120
Speaker 1: And we have seen the internets UH and the ability

548
00:30:42,200 --> 00:30:47,719
Speaker 1: to communicate ap peer to peer have drastic impacts on

549
00:30:48,440 --> 00:30:52,640
Speaker 1: the ability of you know, people to resist tyrannical power.

550
00:30:52,720 --> 00:30:58,440
Speaker 1: For instance, um, the length that countries will go to

551
00:30:58,800 --> 00:31:01,440
Speaker 1: China has a massive are well on the internet. North

552
00:31:01,520 --> 00:31:07,000
Speaker 1: Korea's is even more restrictive because they understand the danger

553
00:31:07,520 --> 00:31:11,320
Speaker 1: of the freedom of information to their power. Now, this

554
00:31:11,400 --> 00:31:14,680
Speaker 1: is one of the greatest things that the you know,

555
00:31:14,800 --> 00:31:18,440
Speaker 1: founding fathers, the Constitution, the Bill of Rights has given

556
00:31:18,440 --> 00:31:21,880
Speaker 1: to Americans the freedom of speech UH. And it's too

557
00:31:21,960 --> 00:31:25,680
Speaker 1: bad that the you know, the uh not allowing central

558
00:31:25,680 --> 00:31:29,080
Speaker 1: banking didn't make it in, but the freedom has speeched

559
00:31:29,120 --> 00:31:32,719
Speaker 1: it and that's important. And in fact, um, you know,

560
00:31:33,240 --> 00:31:38,360
Speaker 1: this is just an interesting side note. The UH encryption

561
00:31:38,640 --> 00:31:41,840
Speaker 1: that bitcoin is based on shot to fifty six and

562
00:31:41,920 --> 00:31:47,880
Speaker 1: other related encryption algorithms were actually challenged by the US

563
00:31:47,960 --> 00:31:52,840
Speaker 1: government to be made into military grade and unitions essentially,

564
00:31:53,280 --> 00:31:56,280
Speaker 1: um and so that they could be controlled, their export

565
00:31:56,280 --> 00:32:00,520
Speaker 1: could be controlled, right, and the courts, this pream court

566
00:32:00,520 --> 00:32:04,960
Speaker 1: eventually ruled that cryptography is a form of language and

567
00:32:05,360 --> 00:32:08,120
Speaker 1: it is therefore it's protected another First Amendment. And the

568
00:32:08,200 --> 00:32:11,720
Speaker 1: same exact arguments can be made about bitcoins. So if

569
00:32:11,720 --> 00:32:13,600
Speaker 1: there were ever some kind of state level attack on

570
00:32:13,680 --> 00:32:16,640
Speaker 1: that in a legal sense, made on bitcoin, I don't

571
00:32:16,680 --> 00:32:18,120
Speaker 1: think that's going to happen at this point, but if

572
00:32:18,120 --> 00:32:21,520
Speaker 1: there ever were, it would fall under First Amendment protections.

573
00:32:21,560 --> 00:32:24,040
Speaker 1: This is just a language and we have the freedom

574
00:32:24,080 --> 00:32:26,960
Speaker 1: to communicate in that language over the Internet. It's just

575
00:32:27,000 --> 00:32:29,600
Speaker 1: a bunch of words and letters uh in in in

576
00:32:29,640 --> 00:32:33,520
Speaker 1: the code. So um so yeah, if freedom of information

577
00:32:33,600 --> 00:32:37,200
Speaker 1: massively important, and I think you're right that it creates

578
00:32:37,200 --> 00:32:40,680
Speaker 1: this sort of fertile grounds, and the printing press created

579
00:32:40,720 --> 00:32:45,880
Speaker 1: a fertile ground for the advent of the of the Renaissance,

580
00:32:46,000 --> 00:32:49,480
Speaker 1: and so uh it's language is the is the foundation

581
00:32:49,480 --> 00:32:52,000
Speaker 1: of civilization. Money is just another form of language, right,

582
00:32:52,440 --> 00:32:55,560
Speaker 1: um so yeah, I think with bitcoin and like you said,

583
00:32:55,600 --> 00:32:58,440
Speaker 1: the combination of the Internet and other exponential technologies that

584
00:32:58,440 --> 00:33:01,280
Speaker 1: are developing, uh, which we can get into if you want,

585
00:33:01,320 --> 00:33:04,680
Speaker 1: but it's mind blowing what's happening. And we have no

586
00:33:04,840 --> 00:33:10,000
Speaker 1: idea how to process what's going to happen, not only

587
00:33:10,040 --> 00:33:14,440
Speaker 1: with the advent a bitcoin, but just the telescopic evolution

588
00:33:14,440 --> 00:33:18,440
Speaker 1: of technology and how fast things are changing now. It's it's, uh,

589
00:33:18,480 --> 00:33:20,600
Speaker 1: it's what we can't We just can't grasp it. Our

590
00:33:20,720 --> 00:33:24,120
Speaker 1: our monkey brains can't grasp it. So um, yeah, the

591
00:33:24,760 --> 00:33:28,080
Speaker 1: freedom of information, the freedom of self sovereign money is

592
00:33:28,560 --> 00:33:31,840
Speaker 1: going to change things drastically. You had said something earlier

593
00:33:31,880 --> 00:33:33,920
Speaker 1: that was great. It's something that I that I pay

594
00:33:33,920 --> 00:33:36,920
Speaker 1: attention to a lot. I'm actually reading f A. High

595
00:33:37,000 --> 00:33:40,440
Speaker 1: x book The Constitution of Liberty right now. And uh,

596
00:33:40,440 --> 00:33:42,280
Speaker 1: and I got this from him, but he was talking

597
00:33:42,320 --> 00:33:45,240
Speaker 1: about how it's and you said this, it's the speed

598
00:33:45,600 --> 00:33:49,480
Speaker 1: of ideation, right. So it's it's about trying over and

599
00:33:49,560 --> 00:33:52,960
Speaker 1: over and the faster the more tries we get, the

600
00:33:53,040 --> 00:33:55,920
Speaker 1: more we're gonna do. Right. And so you had said

601
00:33:55,920 --> 00:33:57,920
Speaker 1: that earlier and it's and it's totally right, and and

602
00:33:57,960 --> 00:33:59,880
Speaker 1: it just made me think, Um, if you if you

603
00:34:00,000 --> 00:34:04,160
Speaker 1: look at like the printing press sped up the amount

604
00:34:04,160 --> 00:34:06,160
Speaker 1: of information that was getting to people instead of being

605
00:34:06,200 --> 00:34:08,759
Speaker 1: centralized by one person and I can only relay to

606
00:34:08,800 --> 00:34:10,640
Speaker 1: that one person or to a small group of people.

607
00:34:10,920 --> 00:34:12,960
Speaker 1: Now books could go out and flourish, right, so it's

608
00:34:13,000 --> 00:34:15,919
Speaker 1: sped up that information. And then I was just thinking

609
00:34:15,920 --> 00:34:20,240
Speaker 1: about the parallel to the Internet where the internet. Um,

610
00:34:20,280 --> 00:34:22,200
Speaker 1: Before the Internet, we had lots of books. Obviously the

611
00:34:22,239 --> 00:34:24,240
Speaker 1: printing press of bent around. But if you think about

612
00:34:24,280 --> 00:34:27,520
Speaker 1: that one, it takes somebody you know, potentially years to

613
00:34:27,600 --> 00:34:30,120
Speaker 1: research and write a book, and then it could take

614
00:34:30,200 --> 00:34:32,760
Speaker 1: me weeks or months or however long to read a book.

615
00:34:32,960 --> 00:34:36,040
Speaker 1: So like, how how how fast that that was faster

616
00:34:36,320 --> 00:34:38,200
Speaker 1: than me having to travel to talk to so many

617
00:34:38,200 --> 00:34:40,280
Speaker 1: word of mouth right, and it got to more people.

618
00:34:40,600 --> 00:34:43,160
Speaker 1: But then think about the speed difference in the Internet

619
00:34:43,880 --> 00:34:46,879
Speaker 1: and also the way that we get information. Now. I

620
00:34:46,920 --> 00:34:49,360
Speaker 1: love books and I've read thousands of books, and I

621
00:34:49,360 --> 00:34:51,839
Speaker 1: still read books. I'm reading high X book right now.

622
00:34:52,080 --> 00:34:53,880
Speaker 1: I'm actually working on three or three or four books

623
00:34:53,960 --> 00:34:58,800
Speaker 1: right now. Um, but um, my education shifted a lot,

624
00:34:58,960 --> 00:35:01,400
Speaker 1: and uh, you know, shifted from for a while, I

625
00:35:01,440 --> 00:35:03,239
Speaker 1: didn't read books for a couple of years and it

626
00:35:03,360 --> 00:35:06,040
Speaker 1: was all podcasts and like YouTube videos, so it was

627
00:35:06,080 --> 00:35:07,839
Speaker 1: even and and part of the reason why it's because

628
00:35:07,840 --> 00:35:11,120
Speaker 1: it's faster, more relevant information, and so it just kind

629
00:35:11,120 --> 00:35:13,160
Speaker 1: of speeds that up. So that's what the information or

630
00:35:13,200 --> 00:35:15,400
Speaker 1: they it really did. And instead of just having to

631
00:35:15,440 --> 00:35:17,520
Speaker 1: go to a bookstore that had limited selection of books,

632
00:35:18,000 --> 00:35:20,120
Speaker 1: it's opened up the whole world back to that kind

633
00:35:20,160 --> 00:35:22,440
Speaker 1: of free trade kind of like what happened in the

634
00:35:22,480 --> 00:35:24,560
Speaker 1: in the Renaissance, where the whole world was able to

635
00:35:24,640 --> 00:35:27,759
Speaker 1: kind of freely exchange. Um. So the Internet is that

636
00:35:28,000 --> 00:35:33,680
Speaker 1: times a million or whatever, right, I mean it's way faster. Yeah,

637
00:35:33,719 --> 00:35:37,160
Speaker 1: you're absolutely right. Yeah, it's uh. The point you make

638
00:35:37,200 --> 00:35:40,000
Speaker 1: about how uh you know, books are sort of these

639
00:35:40,080 --> 00:35:43,720
Speaker 1: like longer term ideas, these more evergreen ideas, because books

640
00:35:43,960 --> 00:35:46,400
Speaker 1: take a while to publish and disseminate, and so they

641
00:35:46,400 --> 00:35:48,480
Speaker 1: could be you know, out of date relatively quickly. And

642
00:35:48,520 --> 00:35:50,719
Speaker 1: then we had the odd events of like pamphlets and

643
00:35:50,760 --> 00:35:55,600
Speaker 1: newspapers to disseminate information more quickly, you know, the relevant

644
00:35:55,760 --> 00:35:58,560
Speaker 1: like new information. Uh. And and now, like you said,

645
00:35:58,600 --> 00:36:01,640
Speaker 1: like the Internet does that instantaneously around the world at

646
00:36:01,640 --> 00:36:04,920
Speaker 1: the speed of light. Uh And and so you know

647
00:36:04,920 --> 00:36:08,279
Speaker 1: we're all on Twitter, Twitter sort of like this distributed

648
00:36:08,320 --> 00:36:10,759
Speaker 1: ap newswire, you know, and we can all just talk

649
00:36:10,840 --> 00:36:12,920
Speaker 1: to the best thinkers in the world, and we can

650
00:36:12,920 --> 00:36:15,920
Speaker 1: get their takes on news, and we can curate our

651
00:36:15,960 --> 00:36:18,960
Speaker 1: feeds based on people that we trust and and who's

652
00:36:19,000 --> 00:36:24,200
Speaker 1: takes we appreciate. Um. And it's it's incredible, man, it's incredible.

653
00:36:24,239 --> 00:36:26,880
Speaker 1: And so it's led to just like the printing prest did,

654
00:36:27,280 --> 00:36:31,600
Speaker 1: but again a million times more, an absolute explosion of

655
00:36:31,840 --> 00:36:34,799
Speaker 1: the transfer of ideas. Uh And and I like the

656
00:36:34,840 --> 00:36:38,680
Speaker 1: idea um, you know that, I think it was Richard

657
00:36:38,760 --> 00:36:41,280
Speaker 1: Dawkins about he really coined that. I think he coined

658
00:36:41,280 --> 00:36:44,839
Speaker 1: the phrase meme or the name meme, which is the

659
00:36:44,920 --> 00:36:48,160
Speaker 1: sort of he had this sort of like theory about

660
00:36:48,880 --> 00:36:51,719
Speaker 1: memes or ideas. There were sort of like jeans, right

661
00:36:51,800 --> 00:36:55,680
Speaker 1: that that would um, you know, combine themselves and and

662
00:36:55,760 --> 00:36:59,319
Speaker 1: sort of transcend or create something new when they would

663
00:36:59,360 --> 00:37:02,239
Speaker 1: combine and brains. And so we have all these memes,

664
00:37:02,800 --> 00:37:05,879
Speaker 1: which are in broader sense just ideas, but we also

665
00:37:05,920 --> 00:37:09,000
Speaker 1: have this sort of art form of language that's been

666
00:37:09,040 --> 00:37:11,600
Speaker 1: developed on the Internet, which we call memes. So there's

667
00:37:11,640 --> 00:37:14,200
Speaker 1: that kind of meme as well, and those ideas are

668
00:37:14,280 --> 00:37:18,560
Speaker 1: just being transferred in directly into people's brains so quickly,

669
00:37:18,719 --> 00:37:21,600
Speaker 1: and we're all thinking about things, and like just take

670
00:37:21,640 --> 00:37:24,440
Speaker 1: Twitter for instance, it's like a crucible for the best

671
00:37:24,480 --> 00:37:27,840
Speaker 1: ideas in bitcoin. And this is where bitcoin sort of

672
00:37:27,880 --> 00:37:31,960
Speaker 1: has its battle of ideas about how it's going to develop,

673
00:37:32,000 --> 00:37:33,840
Speaker 1: about what it means to the world, about how we

674
00:37:33,840 --> 00:37:37,200
Speaker 1: should communicate that all of those ideas to the world,

675
00:37:37,200 --> 00:37:40,080
Speaker 1: and we you know, distill them down into this you know,

676
00:37:40,200 --> 00:37:42,200
Speaker 1: list of like a couple of hundred you know, maybe

677
00:37:42,239 --> 00:37:44,960
Speaker 1: a hundred bitcoin memes that we have that are two

678
00:37:45,000 --> 00:37:48,080
Speaker 1: three four words on uh. And so it really helps

679
00:37:48,120 --> 00:37:49,839
Speaker 1: us kind of learn how to communicate. We all work

680
00:37:49,880 --> 00:37:54,359
Speaker 1: on that together. It's a distributed collaborative marketing system, you know. Yeah, yeah,

681
00:37:54,840 --> 00:37:56,360
Speaker 1: one more point on that, and then I want to

682
00:37:56,400 --> 00:37:58,560
Speaker 1: move on to the second ingredient, which is that money.

683
00:37:58,600 --> 00:38:00,239
Speaker 1: But um, one more thing I was just saying. King

684
00:38:00,360 --> 00:38:04,480
Speaker 1: was also like before the printing press, Um, you know,

685
00:38:04,800 --> 00:38:08,000
Speaker 1: you just kind of had very centralized information. You've got

686
00:38:08,040 --> 00:38:10,480
Speaker 1: it from your teacher, who got it from their teacher

687
00:38:10,520 --> 00:38:13,320
Speaker 1: or whatever. Um. The church kind of held a monopoly

688
00:38:13,480 --> 00:38:15,320
Speaker 1: over religion. And then the people got the Bibles and

689
00:38:15,360 --> 00:38:16,759
Speaker 1: they said, wait a minute, this is not what it says.

690
00:38:17,200 --> 00:38:22,080
Speaker 1: But it was the decentralizing of the information. And then um,

691
00:38:22,120 --> 00:38:25,760
Speaker 1: if we look at the Internet, it's decentralized information times

692
00:38:25,760 --> 00:38:28,680
Speaker 1: a million. Again. Um, so that's super powerful. And then

693
00:38:28,680 --> 00:38:31,600
Speaker 1: we have another technology that's even decentralized even more. And

694
00:38:31,640 --> 00:38:33,960
Speaker 1: so that takes us back to the the second ingredient,

695
00:38:33,960 --> 00:38:36,560
Speaker 1: which turbo charges. When you add these two together, it's uh,

696
00:38:36,840 --> 00:38:39,359
Speaker 1: you know, the compound um and that that is that money.

697
00:38:39,400 --> 00:38:41,200
Speaker 1: So we have now for the first time, a new

698
00:38:41,200 --> 00:38:45,759
Speaker 1: technology that I think is it's much bigger than money, right,

699
00:38:45,800 --> 00:38:48,520
Speaker 1: I mean, it's much bigger than money. It's um, it's

700
00:38:48,560 --> 00:38:50,480
Speaker 1: it's it's in my opinion and what I'm working on

701
00:38:50,520 --> 00:38:53,840
Speaker 1: this thesis, it's it's a technological revolution that will change

702
00:38:53,880 --> 00:38:56,359
Speaker 1: the way humanity works. It's not a new technology, it's

703
00:38:56,400 --> 00:38:59,399
Speaker 1: a technological revolution. Um. And so calling it money is

704
00:38:59,480 --> 00:39:02,640
Speaker 1: too small. But to the point of what we're talking about,

705
00:39:02,680 --> 00:39:06,160
Speaker 1: it's it's borderless, right, so it's global and it can

706
00:39:06,360 --> 00:39:09,520
Speaker 1: speed up that free exchange of information and trade and

707
00:39:09,560 --> 00:39:14,840
Speaker 1: so um. Yeah, So it's what are your thoughts there? Yeah,

708
00:39:14,960 --> 00:39:20,960
Speaker 1: Bitcoin is the implications of it is are incredibly deep,

709
00:39:21,440 --> 00:39:25,440
Speaker 1: and that's why we can spend years and years talking

710
00:39:25,440 --> 00:39:28,799
Speaker 1: about it. We have thousands of podcast episodes we have

711
00:39:29,440 --> 00:39:33,200
Speaker 1: hundreds of incredible essays. We have books that are just

712
00:39:33,239 --> 00:39:37,879
Speaker 1: being published by the dozen now, UM and we can

713
00:39:37,920 --> 00:39:42,359
Speaker 1: continue to have these conversations because there's so much here

714
00:39:42,440 --> 00:39:45,880
Speaker 1: and we're learning about the extent of what it is. Now.

715
00:39:46,160 --> 00:39:49,800
Speaker 1: The first thing that we come to understand about bitcoin

716
00:39:50,000 --> 00:39:54,279
Speaker 1: is that it's a money and we and I, you know,

717
00:39:54,280 --> 00:39:56,799
Speaker 1: when we talked about this a little bit earlier, I

718
00:39:56,880 --> 00:39:58,880
Speaker 1: like to say that we're all default gay sis right,

719
00:39:58,960 --> 00:40:02,400
Speaker 1: We're all all by default believe or understand that the

720
00:40:02,480 --> 00:40:05,680
Speaker 1: government controls the money. That's how money works, uh. And

721
00:40:05,719 --> 00:40:08,400
Speaker 1: that's just the way things are. A couple of generations

722
00:40:08,400 --> 00:40:10,880
Speaker 1: have come up this way since you know, early nineteen seventies.

723
00:40:11,280 --> 00:40:13,160
Speaker 1: I didn't know anything different. I was born in nineteen

724
00:40:13,200 --> 00:40:15,040
Speaker 1: seventy nine. So this is just the way money was,

725
00:40:15,560 --> 00:40:19,840
Speaker 1: um and and so when I found bitcoin, I learned

726
00:40:19,960 --> 00:40:24,080
Speaker 1: it taught me what money really is. And I went

727
00:40:24,160 --> 00:40:29,520
Speaker 1: through college. I had uh, you know, classes in high

728
00:40:29,560 --> 00:40:33,960
Speaker 1: school and college micro macroeconomics, business classes, finance classes never

729
00:40:34,400 --> 00:40:38,400
Speaker 1: mentioned anything about what money is in the history of

730
00:40:38,440 --> 00:40:42,560
Speaker 1: money and how it function in society. UM and so

731
00:40:43,000 --> 00:40:48,600
Speaker 1: to that extent, like it's hard to UM argue against

732
00:40:48,600 --> 00:40:52,440
Speaker 1: the idea that it's at least some kind of unintentional conspiracy,

733
00:40:52,480 --> 00:40:57,279
Speaker 1: because there are incentives for these uh, you know, institutional

734
00:40:57,400 --> 00:41:01,680
Speaker 1: universities and etcetera, to teach this kind of new form

735
00:41:01,719 --> 00:41:06,920
Speaker 1: of economics, to provide the stable of quote unquote economists

736
00:41:06,960 --> 00:41:11,880
Speaker 1: to write papers about you know, econometrics and these massive

737
00:41:12,000 --> 00:41:14,560
Speaker 1: models that are you know, use lots of complex math,

738
00:41:15,040 --> 00:41:18,680
Speaker 1: because we have the conceit that we can understand and

739
00:41:18,800 --> 00:41:22,960
Speaker 1: better manage an economy than a natural money can. Um.

740
00:41:23,320 --> 00:41:30,000
Speaker 1: So yeah, it's it's um. It's going to fundamentally change

741
00:41:30,080 --> 00:41:34,279
Speaker 1: everything because we're returning to a sound money. Now. I

742
00:41:34,320 --> 00:41:36,600
Speaker 1: know what money is, So that's the first thing. What

743
00:41:36,760 --> 00:41:39,960
Speaker 1: is money? Right, That's the question that really leads you

744
00:41:40,040 --> 00:41:43,120
Speaker 1: down the rabbit hole. But then yes, of course there's

745
00:41:43,200 --> 00:41:47,799
Speaker 1: so much more to it than that. And uh, I

746
00:41:47,840 --> 00:41:51,839
Speaker 1: think we have we have a hundred analogies to try

747
00:41:51,880 --> 00:41:55,520
Speaker 1: to understand describe bitcoin. Um. But one that I am

748
00:41:55,560 --> 00:41:59,840
Speaker 1: you know, really enjoying thinking about right now is you know,

749
00:42:00,040 --> 00:42:07,200
Speaker 1: point is energy and it is stored energy. It's all money.

750
00:42:07,320 --> 00:42:09,920
Speaker 1: That's what money is. It stored the money is. But

751
00:42:09,960 --> 00:42:13,960
Speaker 1: bitcoin does it so efficiently, right, it doesn't so efficiently

752
00:42:13,960 --> 00:42:18,880
Speaker 1: it literally just directly turns energy into money. That's exactly

753
00:42:18,960 --> 00:42:23,319
Speaker 1: what money is. So it's, uh, it's the perfect transfer

754
00:42:23,600 --> 00:42:29,120
Speaker 1: of energy into money, and it's it's fascinating to kind

755
00:42:29,120 --> 00:42:32,080
Speaker 1: of I mean, just to even try to attempt to

756
00:42:32,120 --> 00:42:34,640
Speaker 1: show like how powerful this is. I look at I

757
00:42:34,680 --> 00:42:37,319
Speaker 1: look at what you know is happening in civilization today,

758
00:42:37,320 --> 00:42:41,720
Speaker 1: in society today, and so um, back to money is energy.

759
00:42:42,000 --> 00:42:43,879
Speaker 1: So just just to set that up real quick, Let's

760
00:42:43,880 --> 00:42:46,000
Speaker 1: say that I have to dig holes, right, and if

761
00:42:46,000 --> 00:42:48,239
Speaker 1: I dig holes for eight hours a day, I'm expending

762
00:42:48,239 --> 00:42:51,239
Speaker 1: my energy. I'm burning calories, right, um, expend energy to

763
00:42:51,280 --> 00:42:53,719
Speaker 1: dig holes. I could decide to work an extra four

764
00:42:53,760 --> 00:42:57,880
Speaker 1: hours one day, extra energy expense that I could hopefully

765
00:42:57,960 --> 00:43:00,239
Speaker 1: save store that value to be used at a later

766
00:43:00,320 --> 00:43:01,799
Speaker 1: date in time. And I want to make sure that

767
00:43:01,800 --> 00:43:05,480
Speaker 1: that maintains its power, not not losing it like a battery. Right.

768
00:43:05,520 --> 00:43:07,440
Speaker 1: You wanted to be able to store that that energy.

769
00:43:08,000 --> 00:43:10,680
Speaker 1: The problem that we have, um, you know, as the

770
00:43:10,800 --> 00:43:13,400
Speaker 1: Roman Empire had debasing the currency in the United States

771
00:43:14,080 --> 00:43:16,839
Speaker 1: is um you know, with with with being able to

772
00:43:16,880 --> 00:43:19,399
Speaker 1: store that energy for you at a later date, then

773
00:43:19,480 --> 00:43:22,240
Speaker 1: I'm free to go specialize and be the best brain

774
00:43:22,320 --> 00:43:25,440
Speaker 1: surgeon I can be, or the best you know, coder,

775
00:43:25,640 --> 00:43:28,680
Speaker 1: engineer I could be. Whatever. The problem that we have

776
00:43:28,880 --> 00:43:31,920
Speaker 1: when our money doesn't hold its value is I'm forced

777
00:43:32,280 --> 00:43:36,000
Speaker 1: to go become an investor. So now instead of spending

778
00:43:36,080 --> 00:43:39,759
Speaker 1: all my focus and energy on creating new technologies that

779
00:43:39,840 --> 00:43:42,560
Speaker 1: serve you know, solve problems and serve needs, now I

780
00:43:42,560 --> 00:43:45,240
Speaker 1: can only spend half my time because the other half

781
00:43:45,280 --> 00:43:47,840
Speaker 1: of my time I'm forced to be able to find

782
00:43:47,840 --> 00:43:50,359
Speaker 1: a way to not lose my energy that I've saved up.

783
00:43:51,640 --> 00:43:53,640
Speaker 1: And think about I mean, if you can just think

784
00:43:53,680 --> 00:43:57,440
Speaker 1: about the implications of that, how much how much brain

785
00:43:57,560 --> 00:44:00,760
Speaker 1: drain has been done on society? Like how much further

786
00:44:00,920 --> 00:44:04,000
Speaker 1: could we be ahead if we didn't have to spend

787
00:44:04,040 --> 00:44:06,439
Speaker 1: half our time being investors. Now, of course Wall Street

788
00:44:06,480 --> 00:44:08,759
Speaker 1: doesn't want to hear that, but imagine if we could

789
00:44:08,800 --> 00:44:10,920
Speaker 1: just save our money, we didn't have to be investors,

790
00:44:10,920 --> 00:44:15,759
Speaker 1: and we could just go solve problems and create things. Yeah,

791
00:44:15,800 --> 00:44:20,840
Speaker 1: it's so true. I interviewed a guy named named Noah Kaufman, Dr. NOA. Kaufman,

792
00:44:21,040 --> 00:44:24,520
Speaker 1: and he told this great story that absolutely proves this point.

793
00:44:24,960 --> 00:44:29,319
Speaker 1: He uh, you know, doctor obviously works his butt off,

794
00:44:29,400 --> 00:44:33,000
Speaker 1: went through uh med school seven years or whatever of

795
00:44:33,160 --> 00:44:36,440
Speaker 1: intense work and then uh started working. I think he

796
00:44:36,520 --> 00:44:38,200
Speaker 1: was an e R doc. So that's kind of one

797
00:44:38,239 --> 00:44:41,440
Speaker 1: of the most intense forms of medical service you can provide.

798
00:44:41,960 --> 00:44:47,239
Speaker 1: And he, you know, had had some money money saved up.

799
00:44:47,280 --> 00:44:48,600
Speaker 1: He didn't know what to do with it, right, and

800
00:44:48,640 --> 00:44:50,120
Speaker 1: so he just kind of started and gave it to

801
00:44:50,160 --> 00:44:52,920
Speaker 1: a financial advisor to invest, and he just was not

802
00:44:53,080 --> 00:44:56,360
Speaker 1: happy with his smart dude was not happy with what

803
00:44:56,400 --> 00:45:00,000
Speaker 1: the financial advisor was doing with it. So he actually

804
00:45:00,000 --> 00:45:05,040
Speaker 1: he became a licensed financial advisor just to manage his

805
00:45:05,080 --> 00:45:07,920
Speaker 1: own money. So he learned all of that stuff and

806
00:45:07,920 --> 00:45:10,160
Speaker 1: and became you know, a license so that he could

807
00:45:10,160 --> 00:45:12,279
Speaker 1: do whatever he wanted to with his own money. So

808
00:45:12,320 --> 00:45:15,920
Speaker 1: all self directed. And that's exactly the point, right. Uh.

809
00:45:15,920 --> 00:45:18,759
Speaker 1: He spent all those hours in top of being a

810
00:45:18,840 --> 00:45:21,799
Speaker 1: doctor where he could have with all that energy the

811
00:45:21,880 --> 00:45:26,239
Speaker 1: expended doing this, uh you know, been an entrepreneur in

812
00:45:26,280 --> 00:45:31,360
Speaker 1: other ways or whatever, and benefited society in even greater ways,

813
00:45:31,400 --> 00:45:34,160
Speaker 1: thought more about his profession and contributed some sort of

814
00:45:34,200 --> 00:45:36,759
Speaker 1: like new type of a medical service or way to

815
00:45:36,760 --> 00:45:41,920
Speaker 1: approach solving solving health problems. Uh. And he couldn't so

816
00:45:42,040 --> 00:45:45,880
Speaker 1: it's it's exactly right. And with bitcoin, we have a

817
00:45:45,920 --> 00:45:49,319
Speaker 1: way that allows us to store that value without having

818
00:45:49,320 --> 00:45:51,960
Speaker 1: to think about all that stuff. It's insane. And so

819
00:45:52,120 --> 00:45:57,040
Speaker 1: that just that alone. Imagine the benefit to society that

820
00:45:57,080 --> 00:46:01,120
Speaker 1: will accrue just because of that alone. Um, And then

821
00:46:01,280 --> 00:46:04,680
Speaker 1: you know there's there's other other ways. The bitcoin will

822
00:46:05,000 --> 00:46:09,360
Speaker 1: you know, improve the efficiency of human civilization, society and

823
00:46:09,400 --> 00:46:12,880
Speaker 1: advancements by orders of magnitude. Yeah, yeah, I mean we

824
00:46:12,960 --> 00:46:15,640
Speaker 1: just we just can't even comprehend it. I think as humans. Um,

825
00:46:15,680 --> 00:46:17,960
Speaker 1: the problem is humans is that we can only imagine

826
00:46:18,000 --> 00:46:20,360
Speaker 1: a better version of what we have today. We can't

827
00:46:20,360 --> 00:46:23,200
Speaker 1: imagine something new. So we have cars, well flying cars, right,

828
00:46:23,680 --> 00:46:26,279
Speaker 1: we can't imagine new things because we don't have the

829
00:46:26,320 --> 00:46:29,359
Speaker 1: building blocks for those things. But I think hopefully we've

830
00:46:29,360 --> 00:46:32,360
Speaker 1: made it clear to everybody listening that, um, just like history,

831
00:46:32,360 --> 00:46:35,360
Speaker 1: when we decentralized information and got a way to store

832
00:46:35,960 --> 00:46:40,520
Speaker 1: value and trade freely, which even exploded the communication. Um,

833
00:46:40,560 --> 00:46:44,000
Speaker 1: it led to massive you know, wealth and and and

834
00:46:44,000 --> 00:46:46,400
Speaker 1: and a boom for for the civilization. And I see

835
00:46:46,480 --> 00:46:52,000
Speaker 1: that setting up again today but times like a million. Yes, yeah, absolutely,

836
00:46:52,040 --> 00:46:56,000
Speaker 1: And this is um, this is the exponential evolution of

837
00:46:56,080 --> 00:46:59,960
Speaker 1: human civilization. So it's happened all throughout history. I think

838
00:47:00,000 --> 00:47:02,759
Speaker 1: it's been a six hundred thousand years for the hominid,

839
00:47:03,160 --> 00:47:07,160
Speaker 1: hundred thousand years for uh Man as we know it, UH,

840
00:47:07,200 --> 00:47:12,520
Speaker 1: ten thousand years of agriculture, you know, UH, five hundred

841
00:47:12,600 --> 00:47:14,799
Speaker 1: years of the Industrial Revolution. Probably a little bit less

842
00:47:14,800 --> 00:47:19,040
Speaker 1: than that fifty years of the information age. So I

843
00:47:19,080 --> 00:47:23,160
Speaker 1: think we're entering now a bitcoin renaissance of bitcoin age. UH.

844
00:47:23,239 --> 00:47:26,239
Speaker 1: That's you know, going to be a compliment, is Jeff

845
00:47:26,280 --> 00:47:29,040
Speaker 1: Booth talks about in the Price of Tomorrow, a compliment

846
00:47:29,120 --> 00:47:34,959
Speaker 1: to these uh technologies that are deflationary essentially, right, They're

847
00:47:35,000 --> 00:47:40,360
Speaker 1: all the cost of manufacturer any information based, silicon based

848
00:47:40,480 --> 00:47:43,839
Speaker 1: technology is trending to zero, right, And if you pair

849
00:47:43,960 --> 00:47:47,400
Speaker 1: that with a deflationary money, which you have to eventually

850
00:47:47,440 --> 00:47:51,160
Speaker 1: just it's just math. You can't have an inflationary money

851
00:47:51,160 --> 00:47:54,040
Speaker 1: in this environment, it's going to actually speed up. It's collapsed,

852
00:47:54,480 --> 00:47:58,280
Speaker 1: and so um you pair those together, the exponential advancement

853
00:47:58,320 --> 00:48:02,040
Speaker 1: of technology with a money that will just incentivize that

854
00:48:02,080 --> 00:48:06,920
Speaker 1: advancement even further. We're talking about technologies that will allow

855
00:48:07,080 --> 00:48:10,120
Speaker 1: people to live for hundreds of years. You know, maybe

856
00:48:10,120 --> 00:48:13,719
Speaker 1: even forever, like things that we can't imagine, you know,

857
00:48:14,640 --> 00:48:18,120
Speaker 1: like basically like near light speed travel or maybe even

858
00:48:18,160 --> 00:48:22,280
Speaker 1: like speed travel. It's it's physically possible. So we will

859
00:48:22,440 --> 00:48:30,200
Speaker 1: have the fundamental basis through this light speed transfer of information,

860
00:48:30,640 --> 00:48:35,200
Speaker 1: the development of AI, you know, AI enhanced brains. UM.

861
00:48:35,400 --> 00:48:38,920
Speaker 1: It's it's crazy what's happening. So it's not just the money,

862
00:48:38,960 --> 00:48:42,640
Speaker 1: but the like you said, the transfer of ideas that's

863
00:48:42,680 --> 00:48:46,840
Speaker 1: propagating and accelerating exponential rate and then combined with a

864
00:48:46,880 --> 00:48:50,960
Speaker 1: sound money, uh, will just really lead to a flourishing

865
00:48:50,960 --> 00:48:54,319
Speaker 1: of humanity. UM free up all kinds of time for us.

866
00:48:54,719 --> 00:48:58,120
Speaker 1: You know, most people will have their needs met, you know,

867
00:48:58,160 --> 00:49:02,600
Speaker 1: basic maslow hierarchy needs at because of deflationary technology and

868
00:49:02,640 --> 00:49:05,719
Speaker 1: a combination of bitcoin making it you know, this decreasing

869
00:49:05,760 --> 00:49:08,000
Speaker 1: those prices trend and trend them towards zero even faster

870
00:49:08,680 --> 00:49:11,160
Speaker 1: UM for essentially free and it's not going to have

871
00:49:11,200 --> 00:49:13,720
Speaker 1: to be some government program through the collection of taxes.

872
00:49:13,840 --> 00:49:16,759
Speaker 1: Is just going to be that way because we're we've

873
00:49:16,760 --> 00:49:19,799
Speaker 1: become so efficient, so productive, and that we can then

874
00:49:20,040 --> 00:49:21,920
Speaker 1: we can all kind of spread around the capture of

875
00:49:21,960 --> 00:49:24,719
Speaker 1: that productivity. That that chart that I always point to

876
00:49:25,600 --> 00:49:32,640
Speaker 1: of one the uh, you know, breaking of productivity from wages,

877
00:49:32,640 --> 00:49:36,440
Speaker 1: So wages flatline productivity continues apace. They had been lockstep

878
00:49:36,680 --> 00:49:39,479
Speaker 1: up until the end of the gold standard. So we're

879
00:49:39,480 --> 00:49:42,759
Speaker 1: not benefiting you and I and and most people are

880
00:49:42,760 --> 00:49:47,080
Speaker 1: not benefiting from the improvements of productivity. That's all accruing

881
00:49:47,160 --> 00:49:50,840
Speaker 1: to the one, the point one the point on UM.

882
00:49:50,920 --> 00:49:55,080
Speaker 1: So having that more more evenly distributed, UH, is going

883
00:49:55,120 --> 00:49:57,480
Speaker 1: to give us all time to do to pursue our

884
00:49:57,520 --> 00:50:01,280
Speaker 1: passions and perfect our crafts and think term and it's

885
00:50:01,320 --> 00:50:05,920
Speaker 1: gonna really change everything. Yeah, it's gonna be an amazing renaissance. Again,

886
00:50:06,160 --> 00:50:09,400
Speaker 1: it is gonna be an amazing bitcoin renaissance. Now, unfortunately

887
00:50:09,400 --> 00:50:11,080
Speaker 1: the path from here to there may not be so smooth,

888
00:50:11,120 --> 00:50:13,399
Speaker 1: but there is hope on the other side. So that's

889
00:50:13,400 --> 00:50:17,120
Speaker 1: a good message of hope. Brady, that's a super fun conversation.

890
00:50:17,160 --> 00:50:18,640
Speaker 1: Like I said, I spent too much time focusing on

891
00:50:18,719 --> 00:50:20,880
Speaker 1: doom and gloom and so I do like to just

892
00:50:20,920 --> 00:50:23,120
Speaker 1: stop and think about how great things are. So thanks

893
00:50:23,160 --> 00:50:27,440
Speaker 1: for breaking that down for us. That's great. UM, I

894
00:50:27,480 --> 00:50:29,640
Speaker 1: know you've got the podcast, will link to the Citizen

895
00:50:29,640 --> 00:50:32,080
Speaker 1: Bitcoin podcast. Um, anything else you want to point people

896
00:50:32,120 --> 00:50:34,920
Speaker 1: to that. We can link down below. Yeah. I host

897
00:50:34,920 --> 00:50:37,360
Speaker 1: two podcasts. So Citizen Bitcoin has been around for a

898
00:50:37,360 --> 00:50:41,920
Speaker 1: few years. There's a good hundred and thirty episode archive

899
00:50:42,040 --> 00:50:44,520
Speaker 1: there with interviews with some of the best bitcoiners. It's

900
00:50:44,560 --> 00:50:46,640
Speaker 1: fun to go back and listen to that archive. I

901
00:50:46,719 --> 00:50:49,600
Speaker 1: had one of the first podcast episodes with g g

902
00:50:49,800 --> 00:50:52,520
Speaker 1: who is a great author, with Robert Breedlove, who's really

903
00:50:52,520 --> 00:50:55,000
Speaker 1: exploded since then. So it's fun. It's fun to go

904
00:50:55,040 --> 00:50:57,879
Speaker 1: back and kind of hear their early thinking before they

905
00:50:58,160 --> 00:51:01,279
Speaker 1: sort of before where they or now. Uh. And then

906
00:51:01,320 --> 00:51:04,840
Speaker 1: I also host the Swan Signal Live show. We publish

907
00:51:04,920 --> 00:51:08,279
Speaker 1: it at swan Signal Live Podcast, Swan Signal podcast dot

908
00:51:08,360 --> 00:51:11,280
Speaker 1: com and on our YouTube channel YouTube dot com slash

909
00:51:11,320 --> 00:51:14,440
Speaker 1: swan Signal. Uh. So those are the two shows I'm hosting.

910
00:51:14,480 --> 00:51:16,480
Speaker 1: And of course you can go to swan bitcoin dot

911
00:51:16,520 --> 00:51:20,799
Speaker 1: com and start stacking some SATs. Uh. You know, Bill,

912
00:51:20,880 --> 00:51:22,640
Speaker 1: it's that renaissance money. You got to get some of

913
00:51:22,640 --> 00:51:25,759
Speaker 1: that renaissance money. Yeah, thanks so much, Brady. All right,

914
00:51:25,800 --> 00:51:27,279
Speaker 1: Well with that, we're gonna go ouat and sign it off.

915
00:51:27,280 --> 00:51:29,400
Speaker 1: Thanks so much, Thanks, Mark, appreciate it.