WEBVTT - How This Small Shift Today Alters The future In a HUGE Way | Brady Swenson 0:00:13.680 --> 0:00:16.120 Here everyone, Welcome to another episode of the Market Disruptor Show, 0:00:16.120 --> 0:00:18.840 and today I am joined by Brady Swinton. He is 0:00:19.200 --> 0:00:22.320 he's the host of the Sistum Bitcoin podcast, also head 0:00:22.360 --> 0:00:25.400 of marketing and Education at Swan Bitcoin and Company. I 0:00:25.440 --> 0:00:28.520 talked about quite a bit um and today we have 0:00:28.560 --> 0:00:30.800 a very exciting topic when I'm happy to dig into 0:00:31.280 --> 0:00:34.080 um about of renaissance, but it's a message of hope. 0:00:34.120 --> 0:00:36.120 Today we're gonna use historical references, which you know, I 0:00:36.240 --> 0:00:38.479 love to bring um and talk about hope of the 0:00:38.560 --> 0:00:40.320 of a better future that I'm I'm pretty excited for. 0:00:40.400 --> 0:00:44.120 So anyway, Brady, thanks for thanks for joining absolutely, Mark man, 0:00:44.159 --> 0:00:46.800 I'm a big fan of yours. Uh really glad that 0:00:46.800 --> 0:00:48.520 we've gotten to know each other a bit better through 0:00:49.159 --> 0:00:51.920 uh doing some business and talking bitcoin and happy to 0:00:51.920 --> 0:00:55.440 be here. Thanks for thanks for the time. Yeah. So um, yeah, 0:00:55.520 --> 0:00:58.680 I'm I'm excited for this conversation today because sometimes people 0:00:58.720 --> 0:01:01.640 say I talk too much gloom and doom and because 0:01:01.640 --> 0:01:04.520 the stuff going on, Yeah, I mean the stuff going 0:01:04.520 --> 0:01:07.039 on today is is doom and gloom. Um. But on 0:01:07.080 --> 0:01:08.679 the other side of this is amazing hope, and so 0:01:08.720 --> 0:01:10.600 that's what I want to talk about. Today, we'll talk 0:01:10.600 --> 0:01:12.160 about the doom and gloom and then we'll talk about 0:01:12.160 --> 0:01:14.240 the hope. But anyway, um Brady, just give us a 0:01:14.240 --> 0:01:16.040 little bit of background on on what you're doing so 0:01:16.120 --> 0:01:19.040 kind of people get a reference of that. Yeah, absolutely so. 0:01:19.200 --> 0:01:22.280 I am head of education at Swan Bitcoin. We launched 0:01:22.319 --> 0:01:25.400 about fifteen months ago, fourteen months ago something like that, 0:01:25.480 --> 0:01:28.360 so we're still relatively new on the scene, but we 0:01:28.400 --> 0:01:31.800 are the easiest, fastest, safest way to accumulate bitcoin. We 0:01:31.800 --> 0:01:35.200 have automatic recurring buys, instant buys, we can do wire 0:01:35.240 --> 0:01:38.399 buys up the ten million dollars. We're kind of engine 0:01:38.440 --> 0:01:41.319 air way out toward the international scene right now. We're 0:01:41.319 --> 0:01:44.280 just focused on the United States. So that's what we do. 0:01:44.360 --> 0:01:47.520 We and as my title suggests, were really focused on 0:01:48.000 --> 0:01:51.600 providing bitcoin education. We think that the more you learn 0:01:51.640 --> 0:01:56.000 about bitcoin, the more comfortable you are, you know, buying bitcoin, 0:01:56.080 --> 0:02:00.520 accumulating it, developing that conviction. Uh So we have to 0:02:00.560 --> 0:02:03.720 that extent, published a bunch of you know, blog content, 0:02:04.440 --> 0:02:07.160 We published on YouTube. We have a couple of weekly shows, 0:02:07.480 --> 0:02:10.160 one called Swan Signal Live, on which you've been a 0:02:10.200 --> 0:02:13.440 couple of times. Were repair up guests and and talk 0:02:13.480 --> 0:02:16.760 about economics and bitcoin. We also do Swan Lounge, just 0:02:16.800 --> 0:02:19.200 kind of a fun hangout show on Fridays. We're really 0:02:19.280 --> 0:02:23.160 ramping up the YouTube show. Of course, we published those podcasts, Um, 0:02:23.240 --> 0:02:26.800 we have a book coming out, we published an e books, 0:02:26.800 --> 0:02:28.880 were doing webinars, So we just do a bunch of 0:02:29.000 --> 0:02:32.920 educational content and that's really our focus. We try to 0:02:33.080 --> 0:02:37.239 make most of our marketing efforts educational. Yeah. I love 0:02:37.280 --> 0:02:39.720 that for so many reasons. And one of the biggest 0:02:39.720 --> 0:02:43.200 reasons I love that is because, um, you know, in 0:02:43.320 --> 0:02:46.520 order to I always help people before you buy anything, 0:02:46.560 --> 0:02:48.400 you didn't know what it is that you're doing, Like 0:02:48.400 --> 0:02:51.040 why am I buying this? And what am I expecting? 0:02:51.200 --> 0:02:53.320 And and all that comes to education, right, It all 0:02:53.360 --> 0:02:56.440 comes to education. Um, you know, education is the edge, 0:02:56.600 --> 0:02:59.400 right that that's the edge that you can get. But also, 0:02:59.680 --> 0:03:02.560 like with perspective, by the time this video goes out, 0:03:02.600 --> 0:03:04.440 you'll have seen a new video on YouTube that I 0:03:04.560 --> 0:03:08.440 just finished recording. And I was talking about historical narrative 0:03:08.480 --> 0:03:12.600 of of the Weimar republican Germany and uh, how that 0:03:12.639 --> 0:03:15.079 inflation crept up on them and what happened, And I 0:03:15.600 --> 0:03:17.480 used that and then I pulled the narrative, and I'm 0:03:17.480 --> 0:03:19.560 not gonna spoil it. But the reason why I showed 0:03:19.600 --> 0:03:21.520 that is because people thought, oh, if I would have 0:03:21.560 --> 0:03:23.440 just you know, bought here and sold here, I would 0:03:23.440 --> 0:03:25.640 have made a bunch of money. But you didn't understand. 0:03:25.680 --> 0:03:27.840 If you didn't understand what was really going on, if 0:03:27.880 --> 0:03:31.079 you weren't educated, it wasn't a smooth ride and you 0:03:31.120 --> 0:03:34.160 would have gotten shaken out. And so, UM, education is 0:03:34.160 --> 0:03:36.240 that edge. UM. I also like to say, I'll plug 0:03:36.280 --> 0:03:38.880 one thing. Um. You know, I think we have one 0:03:38.880 --> 0:03:41.200 of the biggest asymmetric opportunities in the world in front 0:03:41.200 --> 0:03:43.960 of us and you that's more upside than downside. And 0:03:43.960 --> 0:03:48.119 the way you get asymmetrical upside is through having asymmetric information. 0:03:49.200 --> 0:03:51.480 And so I'm working with Swan. I have a new 0:03:51.520 --> 0:03:53.520 email going out and I'll put a link to it 0:03:53.560 --> 0:03:55.600 down below. You can sign it from my email. UM. 0:03:55.720 --> 0:03:57.800 It's called the asymmetric edge, and it gives you that 0:03:57.840 --> 0:03:59.880 information you need. So I'm gonna just plug that real quick. 0:04:00.080 --> 0:04:04.160 We're talking about it, but let's dig into this historical narrative. UM. 0:04:04.240 --> 0:04:05.960 And I always try to bring that forward and what 0:04:06.000 --> 0:04:08.720 does that tell us about the future? And so we're 0:04:08.720 --> 0:04:11.440 gonna kind of talk about this this Renaissance two point oh, 0:04:11.480 --> 0:04:14.160 where we both agree. I think let's see the same 0:04:14.200 --> 0:04:18.359 future that there's massive prosperity in front of us. But 0:04:18.440 --> 0:04:21.200 going back right we I think there's a historical narrative 0:04:21.240 --> 0:04:23.800 between like the Roman Empire, the Dark Ages and into 0:04:23.800 --> 0:04:26.760 the next the Renaissance Age and Enlightening age. Um, that 0:04:27.320 --> 0:04:29.640 is is kind of a good analogy of where we 0:04:29.760 --> 0:04:31.440 at and where we're going. Why don't you kind of 0:04:31.440 --> 0:04:34.359 set that up for us? Hey, guys, let me just 0:04:34.480 --> 0:04:37.560 interrupt this interview real quick, just to plug the show sponsor, 0:04:37.680 --> 0:04:40.560 and that is Block five. Now. Block five is doing 0:04:40.640 --> 0:04:43.920 amazing things in the bitcoin finance space. As a matter 0:04:43.960 --> 0:04:46.040 of fact, they've cracked some really big news by bringing 0:04:46.080 --> 0:04:50.160 on the x c ftc UM chair Chris gian Carlo Um. 0:04:50.200 --> 0:04:53.360 And they are one of the most transparent, most heavily 0:04:53.360 --> 0:04:56.200 regulated UM companies inside the United States, which gives me 0:04:56.240 --> 0:04:58.920 a lot of trust into what their services are. Now, 0:04:58.960 --> 0:05:01.719 I've recently did a video talking about how to retire 0:05:01.839 --> 0:05:05.039 off bitcoin, and you can do that by leveraging debt 0:05:05.279 --> 0:05:09.240 and interest against bitcoin. And Block five is the number 0:05:09.279 --> 0:05:11.159 one company in the United States or maybe in the 0:05:11.160 --> 0:05:14.160 world to go to and use UM. They are leading 0:05:14.160 --> 0:05:16.240 the charges, are paying interest on your bitcoin if you 0:05:16.240 --> 0:05:18.680 park it with them, or you can borrow against it. Now, 0:05:18.720 --> 0:05:20.760 as I broke down in that video, you can borrow 0:05:20.760 --> 0:05:23.839 against your bitcoin, and when you take debt against it, 0:05:23.839 --> 0:05:26.040 it's not taxable. It's not a taxable event. You can 0:05:26.120 --> 0:05:27.880 use that debt for anything that you want, including to 0:05:27.920 --> 0:05:30.120 live off of, to leverage up and buy more, or 0:05:30.240 --> 0:05:32.720 roll it into another asset. UM you can do something 0:05:32.760 --> 0:05:35.320 like I've done recently, like sell some real estate put 0:05:35.320 --> 0:05:38.400 that money into bitcoin. Now as that bitcoin price has risen, 0:05:38.440 --> 0:05:40.520 I'm able to borrow against it and go back and 0:05:40.560 --> 0:05:42.960 buy the same real estate or something similar, and I 0:05:43.040 --> 0:05:46.120 still own the bitcoin, and I also own the new 0:05:46.160 --> 0:05:48.160 asset as well. Lots of ways you can do this 0:05:48.480 --> 0:05:51.160 UM and Block five is the company that I recommend. 0:05:51.279 --> 0:05:53.120 Down in the description, I have a link that you 0:05:53.160 --> 0:05:54.880 can click on. If you choose to use that link, 0:05:54.880 --> 0:05:57.000 you can earn up the two fifty dollars in bitcoin 0:05:57.279 --> 0:05:59.440 just for using that link. So check out block fine now. 0:06:00.240 --> 0:06:03.520 Absolutely so. I mean the era that we're in right 0:06:03.560 --> 0:06:09.239 now is not uh an aberration of history. We've had 0:06:09.279 --> 0:06:12.119 eras of fiat money all throughout history. We've had eras 0:06:12.120 --> 0:06:14.599 of sound money all throughout history, and it's a pendulum 0:06:14.640 --> 0:06:18.320 that sort of swings back and forth, and studying that 0:06:18.480 --> 0:06:23.800 history really gives us some insight into what's coming next. 0:06:24.400 --> 0:06:27.160 Uh And and so one of the eras that I 0:06:27.240 --> 0:06:30.120 have really liked to take a look at is the 0:06:30.240 --> 0:06:33.520 Roman Empire. And one of the things I've learned through 0:06:33.640 --> 0:06:37.720 studying bitcoin is that money is the foundation of civilization. 0:06:38.200 --> 0:06:42.800 It is the way that we advance civilization. We create 0:06:42.839 --> 0:06:47.880 technologies because we communicate our needs are wants to other people, 0:06:48.400 --> 0:06:52.320 and those The way that we effectively and efficiently communicate 0:06:52.360 --> 0:06:55.120 those needs and wants, especially over long distances of space 0:06:55.200 --> 0:06:58.279 and and and over time, is the accumulate generation after 0:06:58.360 --> 0:07:01.960 generation is with money. It was with prices. So we 0:07:02.200 --> 0:07:07.960 set of value on certain solutions um by a price 0:07:08.080 --> 0:07:11.200 at a price, and we establish that price. So that's 0:07:11.200 --> 0:07:14.720 really a communication. It's a language, and that language lays 0:07:14.800 --> 0:07:19.040 the foundation of our civilization, the way we advance over time. Um. 0:07:19.360 --> 0:07:22.960 So the quality of our money matters very much. And 0:07:23.000 --> 0:07:25.560 of course when we talk, when we keep in mind, 0:07:25.600 --> 0:07:28.000 of course I'm not as we're talking about this, there's 0:07:28.080 --> 0:07:31.560 a lot of variables that go into the you know, 0:07:32.040 --> 0:07:34.600 rise and fall of empires. But like I said, this 0:07:34.640 --> 0:07:39.520 is the foundational costs, right, uh and so and and 0:07:39.520 --> 0:07:41.200 that's because just just a dig and and just a 0:07:41.280 --> 0:07:43.160 dig in. Sorry interrupt, but I just just kind of 0:07:43.160 --> 0:07:46.200 help you, help you set that base. Um, if if 0:07:46.320 --> 0:07:50.680 price signal, if money works as price signal, and that 0:07:50.800 --> 0:07:53.760 is communication and so of course it's it's obvious to 0:07:53.800 --> 0:07:57.520 anybody that if you can't communicate properly, you can't coordinate 0:07:57.560 --> 0:08:00.400 and you can't grow. And so um that's why countries 0:08:00.440 --> 0:08:01.880 are formed and they have their own language and they 0:08:01.880 --> 0:08:04.880 can all work together. Um. And so that's just uh yeah, 0:08:04.920 --> 0:08:06.960 so when when that communication gets messed up, then you 0:08:07.160 --> 0:08:12.000 can't function together. Yeah, exactly. Yeah, it's just it's more 0:08:12.000 --> 0:08:15.800 efficient to have one language when it comes to markets 0:08:16.160 --> 0:08:19.240 and economies. And uh, you know that's sort of the 0:08:19.520 --> 0:08:22.640 Tower of Babbel story from the Bible. And this era 0:08:22.680 --> 0:08:26.720 where we've had you know, nationally enforced fiat moneys, it's 0:08:27.480 --> 0:08:32.240 hasn't allowed the global economy to operate efficiently. There's just 0:08:32.400 --> 0:08:36.600 these there's a lot of noise in the signal. And 0:08:36.800 --> 0:08:39.199 the promise of bitcoin is that we're going to really 0:08:39.880 --> 0:08:43.520 make that signal a lot clearer, and we have you know, 0:08:43.559 --> 0:08:47.640 the technology it's built upon is a global communications technology. 0:08:47.679 --> 0:08:52.040 And not coincidentally, not coincidentally, uh, the way that the 0:08:52.120 --> 0:08:55.960 language of money is now going to be spread instantaneously 0:08:56.000 --> 0:08:59.080 across the world and the same same voice, the same language, 0:08:59.160 --> 0:09:03.160 the same code, I think, will you know lead to 0:09:03.280 --> 0:09:05.520 what we're gonna you know, talk about here is is 0:09:05.559 --> 0:09:11.079 the Renaissance. UM. So let's let's look at the Roman 0:09:11.080 --> 0:09:14.200 Empire as kind of instructive and then going through the 0:09:14.200 --> 0:09:16.560 Middle Ages and then to the Renaissance. So the Roman 0:09:16.600 --> 0:09:21.559 Empire was extremely successful, um. And it was based on 0:09:21.640 --> 0:09:25.080 a money called the It was a gold coin called 0:09:25.080 --> 0:09:29.640 the arias, and this was sort of the international settlement money. Uh. 0:09:29.679 --> 0:09:33.560 And it was first minted by Julius Caesar uh and 0:09:33.880 --> 0:09:37.920 it uh it was eight grams of pure gold UM. 0:09:38.120 --> 0:09:44.120 And eventually over time it became uh, you know, there 0:09:44.200 --> 0:09:48.360 was a decision made by a Roman emperor to reduce 0:09:48.440 --> 0:09:51.720 it to six point five grams of gold. That was 0:09:51.760 --> 0:09:53.720 at the kind of the beginning of the second century 0:09:53.800 --> 0:09:58.679 to fund empirical expansion and wars. And then it was 0:09:59.000 --> 0:10:03.280 replaced by a four point five Graham uh solidus uh 0:10:03.360 --> 0:10:07.239 where they renamed the coin because they had debased it. Um. 0:10:07.360 --> 0:10:09.960 So the purity of the coin itself, the purity of 0:10:10.000 --> 0:10:13.320 it was never debased, but the weight of it was 0:10:13.440 --> 0:10:18.760 debased as government spending the end outpacing revenues. Uh. And 0:10:18.800 --> 0:10:22.760 this went on for centuries. Now, there was a compliment 0:10:22.800 --> 0:10:24.800 to these gold coins. And like I said, those gold 0:10:24.800 --> 0:10:28.840 coins were international settlement, big nation states and empire settling 0:10:28.840 --> 0:10:31.920 between each other, large merchants, etcetera. But there was a 0:10:31.960 --> 0:10:37.440 silver coin for your you know, everyday person. And Um, 0:10:37.520 --> 0:10:41.679 the you know, deflation or debasement of the gold coins, 0:10:41.760 --> 0:10:44.839 the arias and the lead is really paled in comparison 0:10:44.920 --> 0:10:48.959 to what happened to the denarius, which you know, makes 0:10:49.520 --> 0:10:52.040 makes sense. It's sort of a cancel on effect. The 0:10:52.080 --> 0:10:56.360 money that you know, the everyday guy was was using 0:10:56.840 --> 0:11:00.199 suffered the most debasement. And we're seeing that today as well. 0:11:00.800 --> 0:11:04.080 Yeah so so um, and then and then tell us 0:11:04.080 --> 0:11:05.880 about the let's let's talk about the innarius then I 0:11:05.920 --> 0:11:07.000 want to dig into that a bit. So then the 0:11:07.000 --> 0:11:09.960 denarius with the silver coin, and I mean the same 0:11:09.960 --> 0:11:12.520 thing happened where that got debased and um, yeah, I 0:11:12.520 --> 0:11:14.800 guess the parallel that I'd like to pull just from 0:11:14.840 --> 0:11:17.760 this segment before we keep going so people can understand 0:11:17.760 --> 0:11:20.800 its historical narrative is that most people probably know about 0:11:20.800 --> 0:11:23.000 the Roman Empire and they you know, basically kind of 0:11:23.000 --> 0:11:24.960 took over the world at that point at that point 0:11:24.960 --> 0:11:29.240 in time, and uh, as they needed to continue to grow, 0:11:29.360 --> 0:11:33.800 to continue to increase their empire, they needed more money, right, 0:11:34.040 --> 0:11:35.840 but they didn't have any more money. So what did 0:11:35.880 --> 0:11:38.320 they do. They debased it, which means they took a 0:11:38.320 --> 0:11:40.240 big coin and made it a small coin. By making 0:11:40.280 --> 0:11:43.319 it smaller, they got more. The same thing happened with 0:11:43.320 --> 0:11:45.800 the denarius, right, it used to be full silver than 0:11:45.800 --> 0:11:49.160 it was silver, which gave them ten percent more money, 0:11:49.559 --> 0:11:51.920 et cetera. And so the narrative that I like to 0:11:51.920 --> 0:11:54.320 pull that historical reference is just that they needed more 0:11:54.360 --> 0:11:57.119 money to expand the empire and continue their social programs. 0:11:57.320 --> 0:12:00.000 They didn't have it, so they just made the money 0:12:00.200 --> 0:12:02.679 worth less and less and less. And so we obviously 0:12:02.679 --> 0:12:06.560 you can see that parallel today absolutely, yeah, uh, you know, 0:12:06.640 --> 0:12:09.440 just don't have the revenues coming in, and taxes are 0:12:09.520 --> 0:12:12.240 unpopular and they were back then as well, led to 0:12:12.320 --> 0:12:15.559 uprisings and a lot of complaints and um. So the 0:12:15.640 --> 0:12:18.160 easier way to tax, the easier way to raise more revenue, 0:12:18.320 --> 0:12:20.959 revenue for the government or the empire, is just to 0:12:21.600 --> 0:12:26.200 debase the money. Uh. And that sort of um instidious 0:12:26.400 --> 0:12:30.440 tax is a lot easier to kind of sneak past 0:12:31.320 --> 0:12:36.880 the populace. Um. Yeah. So the denarius began as four 0:12:36.920 --> 0:12:40.199 and a half grams of silver, and it stayed that 0:12:40.240 --> 0:12:44.959 way for centuries under the Roman Empire. And this helped, 0:12:45.440 --> 0:12:48.599 you know, not coincidentally, it was a fundamental It was 0:12:48.640 --> 0:12:51.280 a foundation of civilization for the Roman Empire, and it 0:12:51.400 --> 0:12:58.559 was very healthy for trade, for commerce, for artisans, producers 0:12:58.640 --> 0:13:03.120 of solutions to the needs and wants of other Roman citizens. Um. 0:13:03.200 --> 0:13:06.400 And they could rely on that to be a consistent 0:13:07.640 --> 0:13:12.959 measurement of value over over centuries. So um as Rome. 0:13:13.120 --> 0:13:16.240 As Rome began to grow, the Roman Empire began to grow. Uh. 0:13:16.320 --> 0:13:18.440 Kind of started at the top of the debasement of 0:13:18.840 --> 0:13:24.360 the arius. Um. But then base metals started being combined. 0:13:24.400 --> 0:13:28.800 This another way to debase money. Base medals that were 0:13:28.840 --> 0:13:32.720 more common uh in in the in I guess the 0:13:32.720 --> 0:13:36.640 Earth's surface. Then silver began to be mixed in with 0:13:36.679 --> 0:13:39.120 the coins, so they would have copper cores for instance, 0:13:39.679 --> 0:13:42.559 or they would be blended with silver. UM. And so 0:13:43.360 --> 0:13:50.800 throughout the first century the UH A D. The denarius 0:13:51.000 --> 0:13:55.520 was debased in just a hundred years by over uh 0:13:57.200 --> 0:14:01.560 so Uh it was by three fifty a d. It 0:14:01.640 --> 0:14:05.280 was all but worthless. Um had an exchange rate of 0:14:05.600 --> 0:14:09.920 four million, six hundred thousand denarius to a gold's ladus. 0:14:10.000 --> 0:14:14.000 So they experienced what you talked about in your previous video. Inflation. 0:14:14.080 --> 0:14:18.520 Weimar Republic like inflation caused economic chaos. Uh. And the 0:14:18.559 --> 0:14:21.640 population of Rome, which was at one point a peak 0:14:21.680 --> 0:14:26.000 of about a million inhabitants probably uh, if not you know, 0:14:26.120 --> 0:14:29.120 the largest city on the planet, if not the you know, 0:14:29.160 --> 0:14:32.160 if not the largest, there was probably some competition from 0:14:32.200 --> 0:14:36.480 from eastern empires as well. But UM, by the fifth century, 0:14:37.040 --> 0:14:40.560 hundred hundred and fifty years after the hyper inflation the denarius, 0:14:40.600 --> 0:14:43.480 it was down to fifty thousand people. Uh, it really 0:14:43.520 --> 0:14:46.640 just destroyed the empire. And UH. One phrase that I 0:14:46.720 --> 0:14:50.760 like from this era, UH to use is it comes 0:14:50.760 --> 0:14:54.560 from is bread and circuses, and it means that it 0:14:54.600 --> 0:14:57.400 came from a poet, a Roman poet. It means offerings 0:14:57.440 --> 0:15:01.680 like benefits, or entertainments that are intended to placate you know, 0:15:02.040 --> 0:15:06.440 the discontent, um, and the uh you know, the I 0:15:06.520 --> 0:15:11.760 guess just distract from the policies and failures economically and 0:15:11.840 --> 0:15:16.600 monetarily that the empire is inflicted. Yeah, that's a great 0:15:16.680 --> 0:15:18.960 that's that's a great piece to kind of kind of 0:15:19.000 --> 0:15:21.600 stop right there, because, um, kind of get that historical 0:15:21.600 --> 0:15:25.520 perspective again. So the Roman, the Roman Republic saw massive prosperity. 0:15:25.600 --> 0:15:27.400 They had a good sound money, They were able to 0:15:27.440 --> 0:15:30.080 freely trade, which allowed people to specialize and get good 0:15:30.080 --> 0:15:31.920 at what they were doing. So then there was you know, 0:15:32.160 --> 0:15:35.480 all these new things that were created and in mentions whatnot. 0:15:36.600 --> 0:15:40.320 But as the Roman Empire started to decline, debasing their currency, 0:15:40.560 --> 0:15:42.920 they started falling apart, not just from a monetary standpoint, 0:15:42.960 --> 0:15:45.520 but even from a societal standpoint. And so to your 0:15:45.560 --> 0:15:49.960 point about the bread and circuses, Um, the government changed 0:15:50.080 --> 0:15:51.880 to where they used to rotate in and out all 0:15:51.880 --> 0:15:53.920 the time to keep people kind of fresh. And then 0:15:53.960 --> 0:15:56.600 they got to lifetime politicians and we saw massive corruption 0:15:56.640 --> 0:16:00.280 that started happening. Yeah sound familiar. Um, Then we had 0:16:00.400 --> 0:16:02.640 lots of people that had you know, money problems, and 0:16:02.640 --> 0:16:05.160 they were very unhappy, and so they created these bread 0:16:05.160 --> 0:16:09.080 and circuses, bread being welfare, circuses being entertainment. Well, we 0:16:09.120 --> 0:16:11.240 give the people bread and we keep them entertained. Maybe 0:16:11.280 --> 0:16:14.080 we'll keep them at bay a little bit. And does 0:16:14.120 --> 0:16:16.680 that sound familiar again, right? Um So that's a good 0:16:16.720 --> 0:16:22.000 historical perspective. And then what happened after that, Well that 0:16:22.160 --> 0:16:26.720 was we plunged into the Dark Ages after that and uh, 0:16:26.760 --> 0:16:30.400 you know, the the empire broke up. Uh, the sort 0:16:30.440 --> 0:16:34.960 of knowledge of why that happened was sort of lost 0:16:35.000 --> 0:16:39.520 to history. Uh. And the ideas of of money, Uh, 0:16:39.560 --> 0:16:41.240 we're sort of we're sort of lost. There was all 0:16:41.280 --> 0:16:47.160 kinds of infighting. Uh, the you know, ability to establish 0:16:47.240 --> 0:16:53.040 commerce again was took took quite quite some time. Um So, 0:16:53.040 --> 0:16:55.000 so yeah, it was. It was, you know, obviously a 0:16:55.080 --> 0:16:58.080 dark time. It's called the Dark Ages for a reason. Uh. 0:16:58.120 --> 0:17:00.200 And then we emerged from it and we can we 0:17:00.240 --> 0:17:04.760 can talk about some of the reasons why the Renaissance 0:17:04.960 --> 0:17:07.159 was able to be born. Yeah, yeah, I want to 0:17:07.160 --> 0:17:09.800 talk about that. Um So, just real quick onto that 0:17:09.920 --> 0:17:12.560 Dark Ages. You know, Rome was basically taken over by 0:17:12.560 --> 0:17:16.160 the barbarians and I think they just destroyed everything. So 0:17:16.520 --> 0:17:19.560 all that literature and all that history that kind of 0:17:19.600 --> 0:17:22.440 showed why it was great and how it was great 0:17:22.480 --> 0:17:25.680 before it was kind of lost. Um. So history was destroyed. 0:17:25.720 --> 0:17:28.880 History was lost. Um. And then almost like people didn't 0:17:28.880 --> 0:17:30.600 have a template, they didn't know what to do. There 0:17:30.680 --> 0:17:34.240 was no no good historical references. And again another historical references. 0:17:34.520 --> 0:17:36.439 I mean, it's kind of easy to see how history 0:17:36.520 --> 0:17:40.200 is kind of being rewritten, like histories under attack right now, um. 0:17:40.240 --> 0:17:42.960 And that and that that's bad because that's our guide, 0:17:43.400 --> 0:17:45.639 um as we can see from the Roman Empire going 0:17:45.680 --> 0:17:48.640 to the Dark Ages. So that's another great historical reference 0:17:48.680 --> 0:17:51.199 I think. And then with all that information, all that 0:17:51.320 --> 0:17:53.800 education gone, they didn't know what to do and they 0:17:53.840 --> 0:17:56.800 basically had to rediscover it all again. So they kind 0:17:56.800 --> 0:17:58.880 of had to start all over with no frame of reference. 0:17:59.520 --> 0:18:01.520 Um so and yeah, go ahead and uh and keep 0:18:01.520 --> 0:18:05.040 it going. Yeah. So it was born again in Italy, 0:18:05.800 --> 0:18:09.879 so which which makes sense that the core of that 0:18:10.000 --> 0:18:13.920 knowledge sort of the embers of the fallen Roman Empire 0:18:14.080 --> 0:18:17.520 were still sort of burning in in the you know, 0:18:17.560 --> 0:18:21.040 in Italy and in the area. And uh so in 0:18:21.040 --> 0:18:25.040 in medieval Renaissance, the Medieval Renaissance, the Florin was born 0:18:25.320 --> 0:18:30.399 and these sort of these families that we know of, 0:18:30.440 --> 0:18:33.920 like the Medici's, these big banking families, they eventually invented 0:18:33.920 --> 0:18:41.400 modern banking. They were merchants and they either rediscovered or somehow, 0:18:41.480 --> 0:18:48.280 you know, through some uh you know, beneficial like happenstance 0:18:48.400 --> 0:18:53.240 of history, were able to rediscover this idea of sound 0:18:53.240 --> 0:18:57.520 money and how important it was. So that the thing 0:18:57.680 --> 0:19:01.720 here I think that's uh crucialton note, is that the 0:19:01.760 --> 0:19:07.240 Medici's understood very clearly, uh, the value of sound money 0:19:07.320 --> 0:19:13.680 and maintaining the measurement the signal of that value over generations, 0:19:14.200 --> 0:19:18.600 so the floor and it was stable for three hundred years, 0:19:19.280 --> 0:19:24.240 and this was the foundation of the Renaissance civilization. It 0:19:24.280 --> 0:19:27.400 was used widely beyond the borders of the Republic of Florence. 0:19:27.760 --> 0:19:31.640 It was the most trusted money. Uh. It became reliable, 0:19:31.880 --> 0:19:35.399 you know, because people far and wide knew that the 0:19:35.440 --> 0:19:38.639 florin was going to be worth the same amount now 0:19:39.520 --> 0:19:41.880 as it will be in ten or fifteen or twenty years. 0:19:41.880 --> 0:19:44.440 It was a reliable store of value. That's what made 0:19:44.440 --> 0:19:47.600 it the best money. Yeah. So another thing that I 0:19:47.680 --> 0:19:49.439 like to look at from that kind of period that 0:19:49.560 --> 0:19:51.960 kind of helped usher in that change also was you 0:19:52.000 --> 0:19:55.000 had kind of a new technology, so technological revolutions. I'm 0:19:55.080 --> 0:19:57.199 kind of working on a thesis on that, UM. And 0:19:57.240 --> 0:20:00.119 we had the invention of the printing press ye. And 0:20:00.160 --> 0:20:01.800 with the invention of the printing press, we were able 0:20:01.840 --> 0:20:04.840 to start getting information out to people that typically wouldn't 0:20:04.880 --> 0:20:08.200 have ever gotten that information. And so I think I 0:20:08.520 --> 0:20:11.199 think there's two key pieces there that I like to 0:20:11.200 --> 0:20:16.040 look at. One it was this decentralization of information. Whereas 0:20:16.080 --> 0:20:18.600 before information was centrally controlled and had to kind of 0:20:18.640 --> 0:20:21.320 just be told, spoken or passed down. But all of 0:20:21.359 --> 0:20:23.640 a sudden, now it could be decentralized and spread out 0:20:23.640 --> 0:20:27.320 to everybody. Everybody got the information UM. And then then 0:20:27.359 --> 0:20:29.960 that you know, that just kind of snowballed, where now 0:20:30.000 --> 0:20:32.479 there was exchange of free ideas and people built on 0:20:32.520 --> 0:20:36.000 top of that UM. And then you got the sound 0:20:36.040 --> 0:20:40.280 money again, which UM one gave people that kind of 0:20:40.320 --> 0:20:43.520 that good communication again. But also I think the key 0:20:43.560 --> 0:20:47.240 piece was that because it was globally accepted, it opened 0:20:47.320 --> 0:20:51.080 up free trade. So UM, it expanded the amount of 0:20:51.080 --> 0:20:56.280 free trade and communication and information and ideation and all 0:20:56.320 --> 0:20:58.440 these things. And so with the information and the sound money, 0:20:58.480 --> 0:21:02.199 it was just an explosion. Yeah, yeah, absolutely, and that 0:21:02.320 --> 0:21:06.479 was that's an you know, it's it comes down to language, right, uh, 0:21:06.520 --> 0:21:08.960 and being able to communicate to one another in such 0:21:09.040 --> 0:21:13.360 such broadly like that in such a broader way made 0:21:13.400 --> 0:21:18.600 a massive difference. And that comes down to basically the 0:21:18.760 --> 0:21:22.800 power of language to travel far and wide, and money 0:21:22.840 --> 0:21:24.960 is just a form of language, the way to communicate value. 0:21:25.000 --> 0:21:28.600 So um, being able to you know, for sound money 0:21:28.600 --> 0:21:32.280 to reach far and wide was really enabled just a 0:21:32.359 --> 0:21:37.080 flowering explosion of blossoming of commerce all over Europe. Uh. 0:21:37.119 --> 0:21:43.000 And eventually we saw you know, other very prosperous uh, 0:21:43.200 --> 0:21:47.480 you know, merchant cities uh in the Netherlands and Germany, 0:21:48.200 --> 0:21:53.240 eventually in Britain, uh, Spain. So all over Europe, centers 0:21:53.280 --> 0:21:57.400 of commerce grew through the trade of free ideas and 0:21:57.560 --> 0:22:00.920 the trade based on trade based on sound money. And 0:22:00.920 --> 0:22:04.600 now there are other currencies, but eventually the settlement currency 0:22:05.280 --> 0:22:09.000 among you know, large merchants and even even um, you know, 0:22:09.440 --> 0:22:14.120 in some cases everyday people was the fort Yeah. Yeah. 0:22:14.160 --> 0:22:15.919 And I think, you know, for people that haven't studied 0:22:15.920 --> 0:22:18.040 this at link like we have, you know for years, 0:22:18.320 --> 0:22:21.480 sometimes they don't realize like how deep this really goes 0:22:22.119 --> 0:22:24.879 um where it's like, okay, you had a sound money, Okay, whatever, right, 0:22:24.920 --> 0:22:27.840 but like they don't understand like all the effects of 0:22:27.960 --> 0:22:31.040 money and like what sound money is and so um 0:22:31.080 --> 0:22:34.000 it really comes down to, you know, when I have 0:22:34.119 --> 0:22:36.919 a way to store my energy to be used at 0:22:36.960 --> 0:22:41.320 a later date, Um, it changes my mindset, so I 0:22:41.320 --> 0:22:44.200 have like this longer term perspective. But then it allows 0:22:44.200 --> 0:22:47.399 me to go pursue other things that could be of 0:22:47.440 --> 0:22:50.280 benefit to other people. So I could invent a new 0:22:50.320 --> 0:22:53.240 you know, a new technology or or whatever. And then 0:22:53.359 --> 0:22:57.119 because that that that money, that communication is universal. So 0:22:57.320 --> 0:23:00.080 just like you know, English and Spanish don't match up it, 0:23:00.280 --> 0:23:03.120 but the money does, right, And so um, now you're 0:23:03.200 --> 0:23:06.520 sharing those ideas with even more people. So if I'm 0:23:06.560 --> 0:23:09.280 forced to just you know, work twelve hours a day 0:23:09.359 --> 0:23:12.200 just to survive and get my food and get my clothes, 0:23:12.480 --> 0:23:15.280 I don't have any time to communicate and share ideas 0:23:15.320 --> 0:23:18.400 and invent. But when I can. Um, it's just it's 0:23:18.440 --> 0:23:22.440 just hard to even comprehend or state like how powerful 0:23:22.480 --> 0:23:26.879 that is. Yeah, it's you know, it's again that's how 0:23:26.920 --> 0:23:30.119 civilization advances, and the faster that can happen, the more 0:23:30.119 --> 0:23:34.360 efficiently that can happen, the faster civilization can advance and how, 0:23:34.440 --> 0:23:38.000 and the faster it can spread to everyone. Right, we 0:23:38.040 --> 0:23:41.600 often say that the futures here, it's not evenly distributed yet. Um. 0:23:41.680 --> 0:23:43.480 That's been the case for a long time. And there's 0:23:43.520 --> 0:23:46.439 still lots of people around the world that are waiting 0:23:46.480 --> 0:23:49.760 for the benefits of technologies that have been around for 0:23:49.840 --> 0:23:53.760 decades that you know, more privileged societies that access to 0:23:54.160 --> 0:23:56.879 and what we're seeing now with like the Internet and 0:23:56.920 --> 0:24:00.000 what I hope will happen, you know and be aided by, 0:24:00.359 --> 0:24:09.920 uh by bitcoin is the access to the means of 0:24:09.920 --> 0:24:13.040 of make taking advantage over the information that's available in 0:24:13.520 --> 0:24:17.400 you know, a growing number of pockets you know, literal pockets, 0:24:17.480 --> 0:24:20.439 people's pockets around the world. Uh in the form of 0:24:20.600 --> 0:24:23.760 you know, Internet enabled devices. UM. So these these people 0:24:23.800 --> 0:24:27.400 will have a way now to receive money through those 0:24:27.440 --> 0:24:30.520 devices over the Internet that they will actually be able 0:24:30.560 --> 0:24:34.840 to hold, you know, in a self sovereign way and 0:24:34.960 --> 0:24:38.200 not and know that it's not going to be debased confiscated, 0:24:38.480 --> 0:24:42.719 and they can rely on it to grow some wealth 0:24:43.080 --> 0:24:46.880 for their family and and pass it along and make 0:24:46.920 --> 0:24:49.560 your family richer and richer over time. And this is 0:24:50.000 --> 0:24:52.520 what we used to call the American dream. This is 0:24:52.560 --> 0:24:54.879 the first generation now I think in the history of 0:24:54.880 --> 0:24:58.800 America that will be uh financially in terms of wealth, 0:24:59.440 --> 0:25:03.520 worse off than the previous generation. So um, yeah, that's 0:25:03.560 --> 0:25:06.800 not the way it's supposed to be. Hey, sorry to 0:25:06.840 --> 0:25:09.440 interrupt this video just one more time. I'm not running 0:25:09.480 --> 0:25:11.960 Google ads. So it's actually way less interruption than I 0:25:12.040 --> 0:25:14.160 normally would have on a video. Um. And that's because 0:25:14.160 --> 0:25:17.639 it's sponsored by block five. Um. They are opening up 0:25:17.680 --> 0:25:20.600 the world of bitcoin and financial products offering to pay 0:25:20.640 --> 0:25:23.879 you interest on your bitcoin. Um. Better than own in 0:25:23.880 --> 0:25:25.960 a rental property that you have to manage and control 0:25:25.960 --> 0:25:27.760 and have the risks. You can just earn interest on it, 0:25:27.920 --> 0:25:30.840 or you can leverage against it. Now, I plan to 0:25:30.880 --> 0:25:34.520 hold my bitcoin forever and literally never sell my bitcoin. 0:25:34.560 --> 0:25:36.639 So how do you do that? Well, if I need money, 0:25:36.760 --> 0:25:38.600 I don't want to sell that bitcoin. I'm gonna pay 0:25:38.600 --> 0:25:40.520 tax on it, all right, I'm gonna end up with 0:25:40.600 --> 0:25:43.119 less and I don't have the bitcoin anymore. So a 0:25:43.160 --> 0:25:45.760 better way to do it is to borrow against the bitcoin. 0:25:46.000 --> 0:25:48.159 So I've put all my money into bitcoin. If I 0:25:48.160 --> 0:25:49.800 want to buy a car, or I want to buy 0:25:49.800 --> 0:25:52.880 a house, I can borrow against it at very very 0:25:52.920 --> 0:25:55.639 low competitive rates. Get my house, get my car, whatever 0:25:55.640 --> 0:25:58.360 that may be, and get to keep the bitcoin. I've 0:25:58.359 --> 0:26:00.679 done a whole video on this. You can find it. 0:26:00.680 --> 0:26:02.639 I'll link it down to the description below, how to 0:26:02.800 --> 0:26:05.160 retire off a bitcoin without paying taxes, and you can 0:26:05.200 --> 0:26:07.960 do that with block fight Services' link to the video 0:26:07.960 --> 0:26:09.440 down below. I'm also going to put a link to 0:26:09.480 --> 0:26:11.360 block fight. If you choose to click on that link 0:26:11.359 --> 0:26:12.919 to check them out. You can earn up to two 0:26:13.240 --> 0:26:15.640 fifty dollars in free bitcoin just for using that link. 0:26:15.960 --> 0:26:17.520 And that's it. Let's go ahead and get back to 0:26:17.600 --> 0:26:19.600 the interview. So if we go back and take some 0:26:19.640 --> 0:26:21.720 of those historical reference we kind of set up and 0:26:21.720 --> 0:26:23.400 then kind of look at how that fits kind of 0:26:23.720 --> 0:26:27.800 into more now times. One thing that catches me is that, 0:26:27.960 --> 0:26:30.320 you know, um, like I said, the Roman Empire kind 0:26:30.320 --> 0:26:31.920 of had this figure it out, and then the Barbarians 0:26:31.960 --> 0:26:33.680 kind of destroyed all that and they kind of lost 0:26:33.680 --> 0:26:36.119 their way. And I look at like stuff like the 0:26:36.160 --> 0:26:40.280 Founding Fathers wrote down for us, like they told us, 0:26:40.320 --> 0:26:44.600 they put down warnings and they were so smart, right, 0:26:44.640 --> 0:26:46.520 they didn't have they didn't have the Internet, and they 0:26:46.520 --> 0:26:49.000 didn't have social media. So all they did was sit 0:26:49.160 --> 0:26:52.040 and read and like converse all day. And so they 0:26:52.040 --> 0:26:55.120 had all this time to think about philosophy, and they studied, 0:26:55.119 --> 0:26:58.080 you know, Greek and Roman history. But um, like I said, 0:26:58.119 --> 0:27:00.840 they left all these warnings for us, and it seems 0:27:00.880 --> 0:27:04.080 like we've lost our way, We've lost all that information 0:27:04.160 --> 0:27:09.200 and and maybe even purposely not being shared. Yeah. Perhaps, 0:27:09.800 --> 0:27:14.520 certainly because there's a lot of power in the uh, 0:27:14.600 --> 0:27:18.480 in the printing press and controlling it. So yeah, certainly 0:27:18.520 --> 0:27:24.480 would be massive incentive to keep that information away from 0:27:24.920 --> 0:27:27.280 the general public. I think, I think I can't remember 0:27:27.280 --> 0:27:30.399 who it was. Maybe it was Henry Ford who said 0:27:30.440 --> 0:27:34.000 that if people understood the way the banking system worked, 0:27:34.000 --> 0:27:38.680 they'd be rights in the street by tomorrow morning. Right. 0:27:39.160 --> 0:27:44.600 Uh So, so yeah, there's the founding fathers. Um, there 0:27:44.600 --> 0:27:49.760 were many of them who were adamantly against central control 0:27:49.800 --> 0:27:54.439 of money, adamantly against paper money, I mean, because they 0:27:54.520 --> 0:27:59.359 knew that by allowing someone to print paper money that 0:27:59.480 --> 0:28:02.960 it would be easily debased. George Washington wrote a letter 0:28:03.040 --> 0:28:08.080 to Thomas Jefferson about just in very very stark language, 0:28:08.119 --> 0:28:11.280 basically that you know, paper money has done, you know, 0:28:11.480 --> 0:28:14.960 ever as it will do in your colony, basically your 0:28:15.000 --> 0:28:17.359 state before it was a state then, which is to 0:28:18.040 --> 0:28:21.159 lead to every uh down every road of ruin u 0:28:21.400 --> 0:28:25.520 you know. So yeah, there's there's Alexander Hamilton's as well. Um, 0:28:25.640 --> 0:28:29.360 so very much against central banking. There was heated debates 0:28:29.400 --> 0:28:33.320 about including it in the constitution to forbid central banking. 0:28:33.320 --> 0:28:36.360 It didn't happen, um, And we went back and forth. 0:28:36.359 --> 0:28:40.920 There were wars, you know, basically major battles, intellectual battles 0:28:40.920 --> 0:28:45.520 and sometimes even physical battles over the establishments and uh, 0:28:45.640 --> 0:28:50.200 you know, the destruction of central banking up until nineteen 0:28:50.240 --> 0:28:54.680 thirteen when when we've you know, established at a reserve. Yeah. Yeah, 0:28:54.720 --> 0:28:56.640 if you study that history, you'll see that the central 0:28:56.680 --> 0:29:00.840 bank was established and destroyed multiple time were finally took hold, 0:29:00.880 --> 0:29:03.680 as you said in nine and yeah, so many quotes 0:29:03.680 --> 0:29:05.000 I can't remember them off the top of my head, 0:29:05.000 --> 0:29:07.720 but I mean I think Jefferson said like central banks 0:29:07.720 --> 0:29:11.240 were more dangerous than standing armies. Uh. We talked about 0:29:11.280 --> 0:29:15.040 how it would enslave us, how would enslave our children? Um. 0:29:15.040 --> 0:29:16.680 And so they told us and they warned us and 0:29:16.680 --> 0:29:18.440 now here we are trying to figure this out again, 0:29:18.520 --> 0:29:22.200 so kind of like like what happened? But um, now 0:29:22.320 --> 0:29:25.920 shifting to a little bit of hope. UM, I think 0:29:26.040 --> 0:29:29.480 we are starting to see this new renaissance two point 0:29:29.480 --> 0:29:32.640 oh setting up and and it does give me great hope. Um, 0:29:32.720 --> 0:29:34.400 one of the big catalysts. So if we go back, 0:29:34.600 --> 0:29:36.840 I think the two pieces from the Dark Ages to 0:29:36.840 --> 0:29:42.440 the Renaissance were both information education and sound money. And 0:29:42.520 --> 0:29:45.360 so if we look at the information education piece, I 0:29:45.360 --> 0:29:47.600 think we have Um. You know, we had the explosion 0:29:47.600 --> 0:29:49.840 of the Internet, which is kind of similar to the 0:29:49.840 --> 0:29:53.320 printing press, and the printing press kind of preceded the renaissance, 0:29:53.400 --> 0:29:56.720 sort of like the Internet has preceded what's happening. But 0:29:56.840 --> 0:29:59.960 you know, we're seeing people, I mean people are watching 0:30:00.120 --> 0:30:02.400 this right now, like what the heck? Like why are 0:30:02.400 --> 0:30:05.440 people interested in this? People are using the word fiat, 0:30:05.720 --> 0:30:08.640 Like nobody used the word fiat before, right, nobody cared 0:30:08.680 --> 0:30:11.160 about the history of money. But all of a sudden, 0:30:11.200 --> 0:30:14.560 now there's a renewed interest that I'm excited for, and 0:30:14.640 --> 0:30:18.240 there's this free flow of ideas. And I know you're 0:30:18.280 --> 0:30:20.080 your head of education, I mean, you're you you're on 0:30:20.120 --> 0:30:22.680 it even more than I am, so let's talk about that. Well, 0:30:22.800 --> 0:30:28.719 we're both educators, Mark, but yeah, it's it is an 0:30:28.760 --> 0:30:32.480 amazing time in that sense, the free flow of ideas, 0:30:32.520 --> 0:30:38.920 the freedom of information is incredibly important to individual freedom. 0:30:39.000 --> 0:30:42.120 And we have seen the internets UH and the ability 0:30:42.200 --> 0:30:47.719 to communicate ap peer to peer have drastic impacts on 0:30:48.440 --> 0:30:52.640 the ability of you know, people to resist tyrannical power. 0:30:52.720 --> 0:30:58.440 For instance, um, the length that countries will go to 0:30:58.800 --> 0:31:01.440 China has a massive are well on the internet. North 0:31:01.520 --> 0:31:07.000 Korea's is even more restrictive because they understand the danger 0:31:07.520 --> 0:31:11.320 of the freedom of information to their power. Now, this 0:31:11.400 --> 0:31:14.680 is one of the greatest things that the you know, 0:31:14.800 --> 0:31:18.440 founding fathers, the Constitution, the Bill of Rights has given 0:31:18.440 --> 0:31:21.880 to Americans the freedom of speech UH. And it's too 0:31:21.960 --> 0:31:25.680 bad that the you know, the uh not allowing central 0:31:25.680 --> 0:31:29.080 banking didn't make it in, but the freedom has speeched 0:31:29.120 --> 0:31:32.719 it and that's important. And in fact, um, you know, 0:31:33.240 --> 0:31:38.360 this is just an interesting side note. The UH encryption 0:31:38.640 --> 0:31:41.840 that bitcoin is based on shot to fifty six and 0:31:41.920 --> 0:31:47.880 other related encryption algorithms were actually challenged by the US 0:31:47.960 --> 0:31:52.840 government to be made into military grade and unitions essentially, 0:31:53.280 --> 0:31:56.280 um and so that they could be controlled, their export 0:31:56.280 --> 0:32:00.520 could be controlled, right, and the courts, this pream court 0:32:00.520 --> 0:32:04.960 eventually ruled that cryptography is a form of language and 0:32:05.360 --> 0:32:08.120 it is therefore it's protected another First Amendment. And the 0:32:08.200 --> 0:32:11.720 same exact arguments can be made about bitcoins. So if 0:32:11.720 --> 0:32:13.600 there were ever some kind of state level attack on 0:32:13.680 --> 0:32:16.640 that in a legal sense, made on bitcoin, I don't 0:32:16.680 --> 0:32:18.120 think that's going to happen at this point, but if 0:32:18.120 --> 0:32:21.520 there ever were, it would fall under First Amendment protections. 0:32:21.560 --> 0:32:24.040 This is just a language and we have the freedom 0:32:24.080 --> 0:32:26.960 to communicate in that language over the Internet. It's just 0:32:27.000 --> 0:32:29.600 a bunch of words and letters uh in in in 0:32:29.640 --> 0:32:33.520 the code. So um so yeah, if freedom of information 0:32:33.600 --> 0:32:37.200 massively important, and I think you're right that it creates 0:32:37.200 --> 0:32:40.680 this sort of fertile grounds, and the printing press created 0:32:40.720 --> 0:32:45.880 a fertile ground for the advent of the of the Renaissance, 0:32:46.000 --> 0:32:49.480 and so uh it's language is the is the foundation 0:32:49.480 --> 0:32:52.000 of civilization. Money is just another form of language, right, 0:32:52.440 --> 0:32:55.560 um so yeah, I think with bitcoin and like you said, 0:32:55.600 --> 0:32:58.440 the combination of the Internet and other exponential technologies that 0:32:58.440 --> 0:33:01.280 are developing, uh, which we can get into if you want, 0:33:01.320 --> 0:33:04.680 but it's mind blowing what's happening. And we have no 0:33:04.840 --> 0:33:10.000 idea how to process what's going to happen, not only 0:33:10.040 --> 0:33:14.440 with the advent a bitcoin, but just the telescopic evolution 0:33:14.440 --> 0:33:18.440 of technology and how fast things are changing now. It's it's, uh, 0:33:18.480 --> 0:33:20.600 it's what we can't We just can't grasp it. Our 0:33:20.720 --> 0:33:24.120 our monkey brains can't grasp it. So um, yeah, the 0:33:24.760 --> 0:33:28.080 freedom of information, the freedom of self sovereign money is 0:33:28.560 --> 0:33:31.840 going to change things drastically. You had said something earlier 0:33:31.880 --> 0:33:33.920 that was great. It's something that I that I pay 0:33:33.920 --> 0:33:36.920 attention to a lot. I'm actually reading f A. High 0:33:37.000 --> 0:33:40.440 x book The Constitution of Liberty right now. And uh, 0:33:40.440 --> 0:33:42.280 and I got this from him, but he was talking 0:33:42.320 --> 0:33:45.240 about how it's and you said this, it's the speed 0:33:45.600 --> 0:33:49.480 of ideation, right. So it's it's about trying over and 0:33:49.560 --> 0:33:52.960 over and the faster the more tries we get, the 0:33:53.040 --> 0:33:55.920 more we're gonna do. Right. And so you had said 0:33:55.920 --> 0:33:57.920 that earlier and it's and it's totally right, and and 0:33:57.960 --> 0:33:59.880 it just made me think, Um, if you if you 0:34:00.000 --> 0:34:04.160 look at like the printing press sped up the amount 0:34:04.160 --> 0:34:06.160 of information that was getting to people instead of being 0:34:06.200 --> 0:34:08.759 centralized by one person and I can only relay to 0:34:08.800 --> 0:34:10.640 that one person or to a small group of people. 0:34:10.920 --> 0:34:12.960 Now books could go out and flourish, right, so it's 0:34:13.000 --> 0:34:15.919 sped up that information. And then I was just thinking 0:34:15.920 --> 0:34:20.240 about the parallel to the Internet where the internet. Um, 0:34:20.280 --> 0:34:22.200 Before the Internet, we had lots of books. Obviously the 0:34:22.239 --> 0:34:24.240 printing press of bent around. But if you think about 0:34:24.280 --> 0:34:27.520 that one, it takes somebody you know, potentially years to 0:34:27.600 --> 0:34:30.120 research and write a book, and then it could take 0:34:30.200 --> 0:34:32.760 me weeks or months or however long to read a book. 0:34:32.960 --> 0:34:36.040 So like, how how how fast that that was faster 0:34:36.320 --> 0:34:38.200 than me having to travel to talk to so many 0:34:38.200 --> 0:34:40.280 word of mouth right, and it got to more people. 0:34:40.600 --> 0:34:43.160 But then think about the speed difference in the Internet 0:34:43.880 --> 0:34:46.879 and also the way that we get information. Now. I 0:34:46.920 --> 0:34:49.360 love books and I've read thousands of books, and I 0:34:49.360 --> 0:34:51.839 still read books. I'm reading high X book right now. 0:34:52.080 --> 0:34:53.880 I'm actually working on three or three or four books 0:34:53.960 --> 0:34:58.800 right now. Um, but um, my education shifted a lot, 0:34:58.960 --> 0:35:01.400 and uh, you know, shifted from for a while, I 0:35:01.440 --> 0:35:03.239 didn't read books for a couple of years and it 0:35:03.360 --> 0:35:06.040 was all podcasts and like YouTube videos, so it was 0:35:06.080 --> 0:35:07.839 even and and part of the reason why it's because 0:35:07.840 --> 0:35:11.120 it's faster, more relevant information, and so it just kind 0:35:11.120 --> 0:35:13.160 of speeds that up. So that's what the information or 0:35:13.200 --> 0:35:15.400 they it really did. And instead of just having to 0:35:15.440 --> 0:35:17.520 go to a bookstore that had limited selection of books, 0:35:18.000 --> 0:35:20.120 it's opened up the whole world back to that kind 0:35:20.160 --> 0:35:22.440 of free trade kind of like what happened in the 0:35:22.480 --> 0:35:24.560 in the Renaissance, where the whole world was able to 0:35:24.640 --> 0:35:27.759 kind of freely exchange. Um. So the Internet is that 0:35:28.000 --> 0:35:33.680 times a million or whatever, right, I mean it's way faster. Yeah, 0:35:33.719 --> 0:35:37.160 you're absolutely right. Yeah, it's uh. The point you make 0:35:37.200 --> 0:35:40.000 about how uh you know, books are sort of these 0:35:40.080 --> 0:35:43.720 like longer term ideas, these more evergreen ideas, because books 0:35:43.960 --> 0:35:46.400 take a while to publish and disseminate, and so they 0:35:46.400 --> 0:35:48.480 could be you know, out of date relatively quickly. And 0:35:48.520 --> 0:35:50.719 then we had the odd events of like pamphlets and 0:35:50.760 --> 0:35:55.600 newspapers to disseminate information more quickly, you know, the relevant 0:35:55.760 --> 0:35:58.560 like new information. Uh. And and now, like you said, 0:35:58.600 --> 0:36:01.640 like the Internet does that instantaneously around the world at 0:36:01.640 --> 0:36:04.920 the speed of light. Uh And and so you know 0:36:04.920 --> 0:36:08.279 we're all on Twitter, Twitter sort of like this distributed 0:36:08.320 --> 0:36:10.759 ap newswire, you know, and we can all just talk 0:36:10.840 --> 0:36:12.920 to the best thinkers in the world, and we can 0:36:12.920 --> 0:36:15.920 get their takes on news, and we can curate our 0:36:15.960 --> 0:36:18.960 feeds based on people that we trust and and who's 0:36:19.000 --> 0:36:24.200 takes we appreciate. Um. And it's it's incredible, man, it's incredible. 0:36:24.239 --> 0:36:26.880 And so it's led to just like the printing prest did, 0:36:27.280 --> 0:36:31.600 but again a million times more, an absolute explosion of 0:36:31.840 --> 0:36:34.799 the transfer of ideas. Uh And and I like the 0:36:34.840 --> 0:36:38.680 idea um, you know that, I think it was Richard 0:36:38.760 --> 0:36:41.280 Dawkins about he really coined that. I think he coined 0:36:41.280 --> 0:36:44.839 the phrase meme or the name meme, which is the 0:36:44.920 --> 0:36:48.160 sort of he had this sort of like theory about 0:36:48.880 --> 0:36:51.719 memes or ideas. There were sort of like jeans, right 0:36:51.800 --> 0:36:55.680 that that would um, you know, combine themselves and and 0:36:55.760 --> 0:36:59.319 sort of transcend or create something new when they would 0:36:59.360 --> 0:37:02.239 combine and brains. And so we have all these memes, 0:37:02.800 --> 0:37:05.879 which are in broader sense just ideas, but we also 0:37:05.920 --> 0:37:09.000 have this sort of art form of language that's been 0:37:09.040 --> 0:37:11.600 developed on the Internet, which we call memes. So there's 0:37:11.640 --> 0:37:14.200 that kind of meme as well, and those ideas are 0:37:14.280 --> 0:37:18.560 just being transferred in directly into people's brains so quickly, 0:37:18.719 --> 0:37:21.600 and we're all thinking about things, and like just take 0:37:21.640 --> 0:37:24.440 Twitter for instance, it's like a crucible for the best 0:37:24.480 --> 0:37:27.840 ideas in bitcoin. And this is where bitcoin sort of 0:37:27.880 --> 0:37:31.960 has its battle of ideas about how it's going to develop, 0:37:32.000 --> 0:37:33.840 about what it means to the world, about how we 0:37:33.840 --> 0:37:37.200 should communicate that all of those ideas to the world, 0:37:37.200 --> 0:37:40.080 and we you know, distill them down into this you know, 0:37:40.200 --> 0:37:42.200 list of like a couple of hundred you know, maybe 0:37:42.239 --> 0:37:44.960 a hundred bitcoin memes that we have that are two 0:37:45.000 --> 0:37:48.080 three four words on uh. And so it really helps 0:37:48.120 --> 0:37:49.839 us kind of learn how to communicate. We all work 0:37:49.880 --> 0:37:54.359 on that together. It's a distributed collaborative marketing system, you know. Yeah, yeah, 0:37:54.840 --> 0:37:56.360 one more point on that, and then I want to 0:37:56.400 --> 0:37:58.560 move on to the second ingredient, which is that money. 0:37:58.600 --> 0:38:00.239 But um, one more thing I was just saying. King 0:38:00.360 --> 0:38:04.480 was also like before the printing press, Um, you know, 0:38:04.800 --> 0:38:08.000 you just kind of had very centralized information. You've got 0:38:08.040 --> 0:38:10.480 it from your teacher, who got it from their teacher 0:38:10.520 --> 0:38:13.320 or whatever. Um. The church kind of held a monopoly 0:38:13.480 --> 0:38:15.320 over religion. And then the people got the Bibles and 0:38:15.360 --> 0:38:16.759 they said, wait a minute, this is not what it says. 0:38:17.200 --> 0:38:22.080 But it was the decentralizing of the information. And then um, 0:38:22.120 --> 0:38:25.760 if we look at the Internet, it's decentralized information times 0:38:25.760 --> 0:38:28.680 a million. Again. Um, so that's super powerful. And then 0:38:28.680 --> 0:38:31.600 we have another technology that's even decentralized even more. And 0:38:31.640 --> 0:38:33.960 so that takes us back to the the second ingredient, 0:38:33.960 --> 0:38:36.560 which turbo charges. When you add these two together, it's uh, 0:38:36.840 --> 0:38:39.359 you know, the compound um and that that is that money. 0:38:39.400 --> 0:38:41.200 So we have now for the first time, a new 0:38:41.200 --> 0:38:45.759 technology that I think is it's much bigger than money, right, 0:38:45.800 --> 0:38:48.520 I mean, it's much bigger than money. It's um, it's 0:38:48.560 --> 0:38:50.480 it's it's in my opinion and what I'm working on 0:38:50.520 --> 0:38:53.840 this thesis, it's it's a technological revolution that will change 0:38:53.880 --> 0:38:56.359 the way humanity works. It's not a new technology, it's 0:38:56.400 --> 0:38:59.399 a technological revolution. Um. And so calling it money is 0:38:59.480 --> 0:39:02.640 too small. But to the point of what we're talking about, 0:39:02.680 --> 0:39:06.160 it's it's borderless, right, so it's global and it can 0:39:06.360 --> 0:39:09.520 speed up that free exchange of information and trade and 0:39:09.560 --> 0:39:14.840 so um. Yeah, So it's what are your thoughts there? Yeah, 0:39:14.960 --> 0:39:20.960 Bitcoin is the implications of it is are incredibly deep, 0:39:21.440 --> 0:39:25.440 and that's why we can spend years and years talking 0:39:25.440 --> 0:39:28.799 about it. We have thousands of podcast episodes we have 0:39:29.440 --> 0:39:33.200 hundreds of incredible essays. We have books that are just 0:39:33.239 --> 0:39:37.879 being published by the dozen now, UM and we can 0:39:37.920 --> 0:39:42.359 continue to have these conversations because there's so much here 0:39:42.440 --> 0:39:45.880 and we're learning about the extent of what it is. Now. 0:39:46.160 --> 0:39:49.800 The first thing that we come to understand about bitcoin 0:39:50.000 --> 0:39:54.279 is that it's a money and we and I, you know, 0:39:54.280 --> 0:39:56.799 when we talked about this a little bit earlier, I 0:39:56.880 --> 0:39:58.880 like to say that we're all default gay sis right, 0:39:58.960 --> 0:40:02.400 We're all all by default believe or understand that the 0:40:02.480 --> 0:40:05.680 government controls the money. That's how money works, uh. And 0:40:05.719 --> 0:40:08.400 that's just the way things are. A couple of generations 0:40:08.400 --> 0:40:10.880 have come up this way since you know, early nineteen seventies. 0:40:11.280 --> 0:40:13.160 I didn't know anything different. I was born in nineteen 0:40:13.200 --> 0:40:15.040 seventy nine. So this is just the way money was, 0:40:15.560 --> 0:40:19.840 um and and so when I found bitcoin, I learned 0:40:19.960 --> 0:40:24.080 it taught me what money really is. And I went 0:40:24.160 --> 0:40:29.520 through college. I had uh, you know, classes in high 0:40:29.560 --> 0:40:33.960 school and college micro macroeconomics, business classes, finance classes never 0:40:34.400 --> 0:40:38.400 mentioned anything about what money is in the history of 0:40:38.440 --> 0:40:42.560 money and how it function in society. UM and so 0:40:43.000 --> 0:40:48.600 to that extent, like it's hard to UM argue against 0:40:48.600 --> 0:40:52.440 the idea that it's at least some kind of unintentional conspiracy, 0:40:52.480 --> 0:40:57.279 because there are incentives for these uh, you know, institutional 0:40:57.400 --> 0:41:01.680 universities and etcetera, to teach this kind of new form 0:41:01.719 --> 0:41:06.920 of economics, to provide the stable of quote unquote economists 0:41:06.960 --> 0:41:11.880 to write papers about you know, econometrics and these massive 0:41:12.000 --> 0:41:14.560 models that are you know, use lots of complex math, 0:41:15.040 --> 0:41:18.680 because we have the conceit that we can understand and 0:41:18.800 --> 0:41:22.960 better manage an economy than a natural money can. Um. 0:41:23.320 --> 0:41:30.000 So yeah, it's it's um. It's going to fundamentally change 0:41:30.080 --> 0:41:34.279 everything because we're returning to a sound money. Now. I 0:41:34.320 --> 0:41:36.600 know what money is, So that's the first thing. What 0:41:36.760 --> 0:41:39.960 is money? Right, That's the question that really leads you 0:41:40.040 --> 0:41:43.120 down the rabbit hole. But then yes, of course there's 0:41:43.200 --> 0:41:47.799 so much more to it than that. And uh, I 0:41:47.840 --> 0:41:51.839 think we have we have a hundred analogies to try 0:41:51.880 --> 0:41:55.520 to understand describe bitcoin. Um. But one that I am 0:41:55.560 --> 0:41:59.840 you know, really enjoying thinking about right now is you know, 0:42:00.040 --> 0:42:07.200 point is energy and it is stored energy. It's all money. 0:42:07.320 --> 0:42:09.920 That's what money is. It stored the money is. But 0:42:09.960 --> 0:42:13.960 bitcoin does it so efficiently, right, it doesn't so efficiently 0:42:13.960 --> 0:42:18.880 it literally just directly turns energy into money. That's exactly 0:42:18.960 --> 0:42:23.319 what money is. So it's, uh, it's the perfect transfer 0:42:23.600 --> 0:42:29.120 of energy into money, and it's it's fascinating to kind 0:42:29.120 --> 0:42:32.080 of I mean, just to even try to attempt to 0:42:32.120 --> 0:42:34.640 show like how powerful this is. I look at I 0:42:34.680 --> 0:42:37.319 look at what you know is happening in civilization today, 0:42:37.320 --> 0:42:41.720 in society today, and so um, back to money is energy. 0:42:42.000 --> 0:42:43.879 So just just to set that up real quick, Let's 0:42:43.880 --> 0:42:46.000 say that I have to dig holes, right, and if 0:42:46.000 --> 0:42:48.239 I dig holes for eight hours a day, I'm expending 0:42:48.239 --> 0:42:51.239 my energy. I'm burning calories, right, um, expend energy to 0:42:51.280 --> 0:42:53.719 dig holes. I could decide to work an extra four 0:42:53.760 --> 0:42:57.880 hours one day, extra energy expense that I could hopefully 0:42:57.960 --> 0:43:00.239 save store that value to be used at a later 0:43:00.320 --> 0:43:01.799 date in time. And I want to make sure that 0:43:01.800 --> 0:43:05.480 that maintains its power, not not losing it like a battery. Right. 0:43:05.520 --> 0:43:07.440 You wanted to be able to store that that energy. 0:43:08.000 --> 0:43:10.680 The problem that we have, um, you know, as the 0:43:10.800 --> 0:43:13.400 Roman Empire had debasing the currency in the United States 0:43:14.080 --> 0:43:16.839 is um you know, with with with being able to 0:43:16.880 --> 0:43:19.399 store that energy for you at a later date, then 0:43:19.480 --> 0:43:22.240 I'm free to go specialize and be the best brain 0:43:22.320 --> 0:43:25.440 surgeon I can be, or the best you know, coder, 0:43:25.640 --> 0:43:28.680 engineer I could be. Whatever. The problem that we have 0:43:28.880 --> 0:43:31.920 when our money doesn't hold its value is I'm forced 0:43:32.280 --> 0:43:36.000 to go become an investor. So now instead of spending 0:43:36.080 --> 0:43:39.759 all my focus and energy on creating new technologies that 0:43:39.840 --> 0:43:42.560 serve you know, solve problems and serve needs, now I 0:43:42.560 --> 0:43:45.240 can only spend half my time because the other half 0:43:45.280 --> 0:43:47.840 of my time I'm forced to be able to find 0:43:47.840 --> 0:43:50.359 a way to not lose my energy that I've saved up. 0:43:51.640 --> 0:43:53.640 And think about I mean, if you can just think 0:43:53.680 --> 0:43:57.440 about the implications of that, how much how much brain 0:43:57.560 --> 0:44:00.760 drain has been done on society? Like how much further 0:44:00.920 --> 0:44:04.000 could we be ahead if we didn't have to spend 0:44:04.040 --> 0:44:06.439 half our time being investors. Now, of course Wall Street 0:44:06.480 --> 0:44:08.759 doesn't want to hear that, but imagine if we could 0:44:08.800 --> 0:44:10.920 just save our money, we didn't have to be investors, 0:44:10.920 --> 0:44:15.759 and we could just go solve problems and create things. Yeah, 0:44:15.800 --> 0:44:20.840 it's so true. I interviewed a guy named named Noah Kaufman, Dr. NOA. Kaufman, 0:44:21.040 --> 0:44:24.520 and he told this great story that absolutely proves this point. 0:44:24.960 --> 0:44:29.319 He uh, you know, doctor obviously works his butt off, 0:44:29.400 --> 0:44:33.000 went through uh med school seven years or whatever of 0:44:33.160 --> 0:44:36.440 intense work and then uh started working. I think he 0:44:36.520 --> 0:44:38.200 was an e R doc. So that's kind of one 0:44:38.239 --> 0:44:41.440 of the most intense forms of medical service you can provide. 0:44:41.960 --> 0:44:47.239 And he, you know, had had some money money saved up. 0:44:47.280 --> 0:44:48.600 He didn't know what to do with it, right, and 0:44:48.640 --> 0:44:50.120 so he just kind of started and gave it to 0:44:50.160 --> 0:44:52.920 a financial advisor to invest, and he just was not 0:44:53.080 --> 0:44:56.360 happy with his smart dude was not happy with what 0:44:56.400 --> 0:45:00.000 the financial advisor was doing with it. So he actually 0:45:00.000 --> 0:45:05.040 he became a licensed financial advisor just to manage his 0:45:05.080 --> 0:45:07.920 own money. So he learned all of that stuff and 0:45:07.920 --> 0:45:10.160 and became you know, a license so that he could 0:45:10.160 --> 0:45:12.279 do whatever he wanted to with his own money. So 0:45:12.320 --> 0:45:15.920 all self directed. And that's exactly the point, right. Uh. 0:45:15.920 --> 0:45:18.759 He spent all those hours in top of being a 0:45:18.840 --> 0:45:21.799 doctor where he could have with all that energy the 0:45:21.880 --> 0:45:26.239 expended doing this, uh you know, been an entrepreneur in 0:45:26.280 --> 0:45:31.360 other ways or whatever, and benefited society in even greater ways, 0:45:31.400 --> 0:45:34.160 thought more about his profession and contributed some sort of 0:45:34.200 --> 0:45:36.759 like new type of a medical service or way to 0:45:36.760 --> 0:45:41.920 approach solving solving health problems. Uh. And he couldn't so 0:45:42.040 --> 0:45:45.880 it's it's exactly right. And with bitcoin, we have a 0:45:45.920 --> 0:45:49.319 way that allows us to store that value without having 0:45:49.320 --> 0:45:51.960 to think about all that stuff. It's insane. And so 0:45:52.120 --> 0:45:57.040 that just that alone. Imagine the benefit to society that 0:45:57.080 --> 0:46:01.120 will accrue just because of that alone. Um, And then 0:46:01.280 --> 0:46:04.680 you know there's there's other other ways. The bitcoin will 0:46:05.000 --> 0:46:09.360 you know, improve the efficiency of human civilization, society and 0:46:09.400 --> 0:46:12.880 advancements by orders of magnitude. Yeah, yeah, I mean we 0:46:12.960 --> 0:46:15.640 just we just can't even comprehend it. I think as humans. Um, 0:46:15.680 --> 0:46:17.960 the problem is humans is that we can only imagine 0:46:18.000 --> 0:46:20.360 a better version of what we have today. We can't 0:46:20.360 --> 0:46:23.200 imagine something new. So we have cars, well flying cars, right, 0:46:23.680 --> 0:46:26.279 we can't imagine new things because we don't have the 0:46:26.320 --> 0:46:29.359 building blocks for those things. But I think hopefully we've 0:46:29.360 --> 0:46:32.360 made it clear to everybody listening that, um, just like history, 0:46:32.360 --> 0:46:35.360 when we decentralized information and got a way to store 0:46:35.960 --> 0:46:40.520 value and trade freely, which even exploded the communication. Um, 0:46:40.560 --> 0:46:44.000 it led to massive you know, wealth and and and 0:46:44.000 --> 0:46:46.400 and a boom for for the civilization. And I see 0:46:46.480 --> 0:46:52.000 that setting up again today but times like a million. Yes, yeah, absolutely, 0:46:52.040 --> 0:46:56.000 And this is um, this is the exponential evolution of 0:46:56.080 --> 0:46:59.960 human civilization. So it's happened all throughout history. I think 0:47:00.000 --> 0:47:02.759 it's been a six hundred thousand years for the hominid, 0:47:03.160 --> 0:47:07.160 hundred thousand years for uh Man as we know it, UH, 0:47:07.200 --> 0:47:12.520 ten thousand years of agriculture, you know, UH, five hundred 0:47:12.600 --> 0:47:14.799 years of the Industrial Revolution. Probably a little bit less 0:47:14.800 --> 0:47:19.040 than that fifty years of the information age. So I 0:47:19.080 --> 0:47:23.160 think we're entering now a bitcoin renaissance of bitcoin age. UH. 0:47:23.239 --> 0:47:26.239 That's you know, going to be a compliment, is Jeff 0:47:26.280 --> 0:47:29.040 Booth talks about in the Price of Tomorrow, a compliment 0:47:29.120 --> 0:47:34.959 to these uh technologies that are deflationary essentially, right, They're 0:47:35.000 --> 0:47:40.360 all the cost of manufacturer any information based, silicon based 0:47:40.480 --> 0:47:43.839 technology is trending to zero, right, And if you pair 0:47:43.960 --> 0:47:47.400 that with a deflationary money, which you have to eventually 0:47:47.440 --> 0:47:51.160 just it's just math. You can't have an inflationary money 0:47:51.160 --> 0:47:54.040 in this environment, it's going to actually speed up. It's collapsed, 0:47:54.480 --> 0:47:58.280 and so um you pair those together, the exponential advancement 0:47:58.320 --> 0:48:02.040 of technology with a money that will just incentivize that 0:48:02.080 --> 0:48:06.920 advancement even further. We're talking about technologies that will allow 0:48:07.080 --> 0:48:10.120 people to live for hundreds of years. You know, maybe 0:48:10.120 --> 0:48:13.719 even forever, like things that we can't imagine, you know, 0:48:14.640 --> 0:48:18.120 like basically like near light speed travel or maybe even 0:48:18.160 --> 0:48:22.280 like speed travel. It's it's physically possible. So we will 0:48:22.440 --> 0:48:30.200 have the fundamental basis through this light speed transfer of information, 0:48:30.640 --> 0:48:35.200 the development of AI, you know, AI enhanced brains. UM. 0:48:35.400 --> 0:48:38.920 It's it's crazy what's happening. So it's not just the money, 0:48:38.960 --> 0:48:42.640 but the like you said, the transfer of ideas that's 0:48:42.680 --> 0:48:46.840 propagating and accelerating exponential rate and then combined with a 0:48:46.880 --> 0:48:50.960 sound money, uh, will just really lead to a flourishing 0:48:50.960 --> 0:48:54.319 of humanity. UM free up all kinds of time for us. 0:48:54.719 --> 0:48:58.120 You know, most people will have their needs met, you know, 0:48:58.160 --> 0:49:02.600 basic maslow hierarchy needs at because of deflationary technology and 0:49:02.640 --> 0:49:05.719 a combination of bitcoin making it you know, this decreasing 0:49:05.760 --> 0:49:08.000 those prices trend and trend them towards zero even faster 0:49:08.680 --> 0:49:11.160 UM for essentially free and it's not going to have 0:49:11.200 --> 0:49:13.720 to be some government program through the collection of taxes. 0:49:13.840 --> 0:49:16.759 Is just going to be that way because we're we've 0:49:16.760 --> 0:49:19.799 become so efficient, so productive, and that we can then 0:49:20.040 --> 0:49:21.920 we can all kind of spread around the capture of 0:49:21.960 --> 0:49:24.719 that productivity. That that chart that I always point to 0:49:25.600 --> 0:49:32.640 of one the uh, you know, breaking of productivity from wages, 0:49:32.640 --> 0:49:36.440 So wages flatline productivity continues apace. They had been lockstep 0:49:36.680 --> 0:49:39.479 up until the end of the gold standard. So we're 0:49:39.480 --> 0:49:42.759 not benefiting you and I and and most people are 0:49:42.760 --> 0:49:47.080 not benefiting from the improvements of productivity. That's all accruing 0:49:47.160 --> 0:49:50.840 to the one, the point one the point on UM. 0:49:50.920 --> 0:49:55.080 So having that more more evenly distributed, UH, is going 0:49:55.120 --> 0:49:57.480 to give us all time to do to pursue our 0:49:57.520 --> 0:50:01.280 passions and perfect our crafts and think term and it's 0:50:01.320 --> 0:50:05.920 gonna really change everything. Yeah, it's gonna be an amazing renaissance. Again, 0:50:06.160 --> 0:50:09.400 it is gonna be an amazing bitcoin renaissance. Now, unfortunately 0:50:09.400 --> 0:50:11.080 the path from here to there may not be so smooth, 0:50:11.120 --> 0:50:13.399 but there is hope on the other side. So that's 0:50:13.400 --> 0:50:17.120 a good message of hope. Brady, that's a super fun conversation. 0:50:17.160 --> 0:50:18.640 Like I said, I spent too much time focusing on 0:50:18.719 --> 0:50:20.880 doom and gloom and so I do like to just 0:50:20.920 --> 0:50:23.120 stop and think about how great things are. So thanks 0:50:23.160 --> 0:50:27.440 for breaking that down for us. That's great. UM, I 0:50:27.480 --> 0:50:29.640 know you've got the podcast, will link to the Citizen 0:50:29.640 --> 0:50:32.080 Bitcoin podcast. Um, anything else you want to point people 0:50:32.120 --> 0:50:34.920 to that. We can link down below. Yeah. I host 0:50:34.920 --> 0:50:37.360 two podcasts. So Citizen Bitcoin has been around for a 0:50:37.360 --> 0:50:41.920 few years. There's a good hundred and thirty episode archive 0:50:42.040 --> 0:50:44.520 there with interviews with some of the best bitcoiners. It's 0:50:44.560 --> 0:50:46.640 fun to go back and listen to that archive. I 0:50:46.719 --> 0:50:49.600 had one of the first podcast episodes with g g 0:50:49.800 --> 0:50:52.520 who is a great author, with Robert Breedlove, who's really 0:50:52.520 --> 0:50:55.000 exploded since then. So it's fun. It's fun to go 0:50:55.040 --> 0:50:57.879 back and kind of hear their early thinking before they 0:50:58.160 --> 0:51:01.279 sort of before where they or now. Uh. And then 0:51:01.320 --> 0:51:04.840 I also host the Swan Signal Live show. We publish 0:51:04.920 --> 0:51:08.279 it at swan Signal Live Podcast, Swan Signal podcast dot 0:51:08.360 --> 0:51:11.280 com and on our YouTube channel YouTube dot com slash 0:51:11.320 --> 0:51:14.440 swan Signal. Uh. So those are the two shows I'm hosting. 0:51:14.480 --> 0:51:16.480 And of course you can go to swan bitcoin dot 0:51:16.520 --> 0:51:20.799 com and start stacking some SATs. Uh. You know, Bill, 0:51:20.880 --> 0:51:22.640 it's that renaissance money. You got to get some of 0:51:22.640 --> 0:51:25.759 that renaissance money. Yeah, thanks so much, Brady. All right, 0:51:25.800 --> 0:51:27.279 Well with that, we're gonna go ouat and sign it off. 0:51:27.280 --> 0:51:29.400 Thanks so much, Thanks, Mark, appreciate it.