2 years ago
[0:06] CK: I deliberation we're waiting for a fewer much people. But for the astir part, I'm beauteous acceptable to go.
[0:10] Level39: Yes, I deliberation portion we're waiting for everyone to get ready, I'll conscionable notation however the nonfiction came about. It really came about, I was speechmaking thing that Jason had posted connected his Twitter astir his thesis. The words helium was utilizing conscionable reminded maine of thing I had read. Specifically, it was Tesla's effort connected the occupation of expanding quality energy. He's saying the aforesaid worldly arsenic Tesla. And truthful I looked it up, reread the essay, and I was wholly blown distant due to the fact that I came crossed this transition that was virtually precisely what Jason was talking about. I showed it to Jason and we were conscionable like, wholly floored, it was conscionable incredible.
He fundamentally had rediscovered what Tesla was saying, successful a benignant of archetypal principle's mode that nary 1 had ever truly thought astir until we had re-evaluated with Bitcoin, I guess, is however I described it. So, erstwhile we saw that, I conscionable said, "Oh, I've got to constitute astir this and conscionable enactment it into an essay." And it was truly interesting, I deliberation I created a thread first, and arsenic I started penning the thread, I got immoderate radical came retired of the woodwork and was like, "Oh, you should see immoderate accusation astir immoderate of the escaped vigor worldly that Tesla was moving on," and a batch of it is rather sci-fi.
I started talking with Mike Hobart. We were conscionable going done this worldly and conscionable reasoning astir what tin we see successful this nonfiction earlier it gets truly acold retired there? And that was a batch of fun. It was truly great, a truly absorbing clip putting things together. I conscionable person to convey Jason, really, for introducing america to this benignant of caller mode of looking astatine Bitcoin. CK, shall we get into it now?
[1:55] CK: Yes, we should get into it. And I guess, the lone idiosyncratic who's not connected signifier that should beryllium is Robert Breedlove. If you are connected a desktop, you should get to your mobile telephone and judge the petition to leap connected stage. Actually, Zach Herbert, I conscionable changeable you a petition arsenic well. But we are each acceptable to go. Level39's awesome nonfiction that helium dropped, really each the mode backmost successful October, is pinned to the apical present arsenic good arsenic a batch of different worldly regarding what Bitcoin Magazine is doing.
I privation to marque a speedy shout-out to the Bitcoin 2022 Conference. You request to beryllium there, you request to bargain your ticket. I person heard a connection from the organizers that our vacation discounting and each that benignant of bully worldly is implicit arsenic of New Year's, so, get your summons present earlier the discounting stops. I judge we're going to beryllium doing 1 past benignant of propulsion for the New Year's and Christmas and is the eventual Bitcoin gathering. This is going to beryllium 30,000 Bitcoiners descending onto the City of Miami. A 4-day event, 3-day conference, 1-day festival astatine the extremity to observe Bitcoin culture. I can't ideate not being determination and calling myself a Bitcoiner. It is worthy each azygous cent oregon acceptable oregon immoderate you privation to denominate your summons in.
I saw a happening connected Reddit wherever radical were like, "Should I HODL Bitcoin oregon should I spell to the conference?" Well, the reply is that you should fig retired however to bash both. If you spell to the event, I warrant it'll beryllium worthy each azygous penny. And, if you bash it right, you're going to get a Bitcoin job. You're going to marque valuable, invaluable Bitcoin connections. I started successful the manufacture by getting my occupation astatine a conference. I cognize Cory, CEO of Swan, I judge it kicked disconnected Swan Bitcoin astatine Bitcoin 2019. So, magic happens astatine these conferences, you got to go. I'll halt shilling now.
Level, I'm gonna manus it disconnected to you. I'm acceptable to get truly freakin' cosmic with this astonishing sheet conscionable due to the fact that these are immoderate big-brain ideas. People haven't adjacent truly considered them for a agelong clip until Bitcoin, benignant of, made them viable erstwhile again.
[4:03] Level39: A 100 percent, I deliberation that's precisely however to enactment it. Thanks again, CK, for hosting this and to Bitcoin Magazine, and each one, this astonishing panel, it truly came unneurotic due to the fact that of Jason. I deliberation a batch of radical showed up due to the fact that they privation to perceive what Jason has to accidental and inquire him immoderate questions, truthful I'll get to it arsenic rapidly arsenic I tin here. We'll conscionable spell implicit quickly, conscionable for those who aren't ace acquainted with Tesla, astir apt 1 of the astir astonishing inventors ever, I would say.
There's a large publication called Tesla: Man Out of Time. If you privation to work it to larn much astir Tesla. He was calved successful 1856 successful Croatia. He created alternating currents and transmission technology. Certainly, Bitcoin relies connected a batch of his technology. He invented electrical oscillators, electrical meters, the Tesla coil successful 1891. He demonstrated vigor communications 2 years earlier Marconi did. He emigrated to the US successful 1884. He worked for Edison. I deliberation helium was helping him to revamp thing with DC. Edison really took vantage of Tesla financially. He really promised Tesla, I deliberation $50,000, and past erstwhile helium finished the work, Edison was like, "Sorry, I conjecture you didn't recognize American humor, you're not getting immoderate money." This was truly the communicative of Tesla's life, I would say, for the astir part, doing each this astonishing work.
Edison really ended up FUD-ding Tesla's AC inventions. He electrocuted animals with AC, this was Edison. He said it was dangerous, truthful Tesla was utilized to the FUD, coming from each sorts of individuals similar Edison. Let's see, Tesla invented the vigor earlier Marconi. Marconi really utilized 17 of Tesla's patents erstwhile it came to radio. Tesla conceived the RADAR successful 1917, 18 years earlier Robert Watson-Watt. Edison was really caput of R&D for the US Navy astatine the clip and said there's nary applicable exertion for Tesla's thought for RADAR.
Wilhelm Röntgen was credited with the find of X-rays. Tesla had taken really the archetypal X-ray photographs and sent them to Röntgen, and who truly developed it. He partnered with General Electric, built the archetypal modern powerfulness stations installing hydro-powered AC generators successful Niagara Falls. He experimented with cryogenic engineering. The archetypal idiosyncratic to grounds vigor waves from outer space. He discovered the resonant frequence of Earth 50 years earlier it could beryllium confirmed. He's believed to beryllium the lone idiosyncratic who reproduced canvass lightning successful a laboratory. He invented distant power successful the 19th century, what Tesla called "Telautomatics." He often was credited with inventing the neon light. But successful fact, his lights were wireless and much precocious than neon lights. Imagine utilizing the Earth's ionosphere to administer escaped energy to the full world. He couldn't get the funding.
He spoke 8 languages, helium could memorize full books, helium could recite them astatine will, helium could visualize devices wholly successful his head, and physique them without notes. He was eccentric, helium died astatine 86 successful a New York City edifice room. He was surviving connected beverage and Nabisco crackers astatine the time. He fed pigeons, helium had small wealth to his name. He was often taken vantage of by investors and incapable to support oregon monetize his revolutionary ideas. He apt had thing called "Closed-Eye Visualizations" and a precise precocious level of them, it was precise rare. It began aft the nonaccomplishment of his member successful 1863. You tin really visualize his inventions and his ideas, they would travel to him successful his visions, and helium could spot them close earlier his eyes, and instrumentality them isolated and bash each sorts of things to them successful ways cipher other could imagine. And really, helium was mostly overlooked by history, and much recognition was fixed to those who profited from him.
Tesla truly grew up successful a golden modular world, and helium struggled to nett from the modulation to fiat money, is the mode I saw it. And the maturation of the fiat strategy truly necessitated what I similar to deliberation of arsenic impervious of profit. Whereas Tesla truly would've benefited from a impervious of enactment world. But helium was flawed, I'll conscionable constituent retired that helium wasn't perfect. He really believed successful eugenics and forced sterilization of criminals and the mentally ill, which is simply a spot ironic. Some judge that helium was suffering from madness, actually, to immoderate degree. But helium was celibate his full life, truthful that mightiness person been his ain mode of dealing with that.
Real quickly, I conscionable privation to work a transition present earlier we manus it disconnected to the different radical connected the panel. This was the transition that led maine to truly constitute the nonfiction and comparison it to what Jason was moving on. And I'll work this transition here, this is from "The Problem of Increasing Human Energy". But earlier I get into this, I'll conscionable summarize. One of the main themes successful this effort that Tesla wrote was this thought of quality mass. And quality wide is, you tin deliberation of it arsenic quality advancement moving guardant with inertia. And, it's imperative that this wide is kept moving, if we fto it dilatory down oregon stop, it becomes progressively harder to get it moving again. So you tin deliberation of it arsenic successful similar a blackout. If each the vigor and powerfulness goes off, it takes a agelong clip to get those generators moving again. But Bitcoin mining really keeps the instrumentality of quality wide spinning and that vigor tin beryllium readily diverted astatine moment's announcement to different high-priority applications.
Gretchen Bach really explains this successful a modern conception of this, astatine least, successful what's known arsenic a virtual powerfulness plant. And, these virtual powerfulness plants, these VPPs, they foster request effect vigor grids, truthful you tin person powerfulness truly moving astatine this precocious level, and instantly divert it to thing astatine a divided second. Those mining rigs tin unopen disconnected and it allows for this benignant of instant-on-demand effect erstwhile much powerfulness is needed. You tin benignant of deliberation of it similar a locomotive that's ever kept idling due to the fact that it'd beryllium much hard to get it going again from a acold start. So, Bitcoin mining keeps that flywheel spinning truthful that it tin beryllium engaged astatine a moment's notice.
Here's wherever Tesla starts talking astir the thought of fostering bid and keeping that vigor moving, that quality wide moving. He says, "So agelong arsenic men conscionable successful battle, determination volition beryllium bloodshed. Bloodshed volition ever support up barbarous passion. To interruption this fierce spirit, a extremist departure indispensable beryllium made. An wholly caller rule indispensable beryllium introduced, thing that ne'er existed earlier successful warfare. A rule which volition forcibly, unavoidably crook the conflict into a specified spectacle, a play, a contention without nonaccomplishment of blood. To bring connected this result, men indispensable beryllium dispensed with, instrumentality indispensable combat machine. But however execute that which seems impossible? The reply is elemental enough, nutrient a instrumentality susceptible of acting arsenic though it were portion of a quality being. No specified mechanical contrivance, comprising levers, screws, wheels, clutches, and thing more. But a instrumentality embodying a higher principle, which volition alteration it to execute its duties arsenic though it had intelligence, experience, judgment, a mind. This decision is simply a effect of my thoughts and observations."
Now, I'll skip up present a bit, helium says, "But the unit of this caller rule does not wholly reside successful its destructiveness. Its advent introduces into warfare, an constituent which ne'er existed before, a warring machine, without men arsenic a means of onslaught and defense. The continuous improvement successful this absorption indispensable yet marque a warfare a specified contention of machines without men and without nonaccomplishment of life. A information which would person been intolerable without this caller departure, and which, successful my opinion, indispensable beryllium reached arsenic preliminary to imperishable peace. The constitution of imperishable peaceful relations betwixt nations would astir efficaciously trim the unit retarding the quality wide and would beryllium the champion solution to this large quality problem. But volition the imagination of cosmopolitan bid ever beryllium realized? Let america anticipation that it will. When each acheronian shall beryllium dissipated by the airy of science, erstwhile each nations shall beryllium merged into one, and patriotism shall beryllium identical with religion, erstwhile determination shall beryllium 1 language, 1 country, 1 end, and the imagination volition go reality." CK, I'll manus it implicit to you now.
[11:47] Jason Lowery: That was beautiful.
[11:48] CK: Yeah, I don't cognize wherefore you're handing it disconnected to me. I deliberation that was great. I would emotion it if immoderate folks connected the sheet who are inspired by that could comment.
[11:56] Jason: Yeah, I'll leap successful present existent fast. Level39, convey you truthful overmuch for being inspired to bash this probe and to stock it with me. I retrieve precisely wherever I was and the goosebumps that I felt erstwhile you showed maine these passages. I had felt similar I was possibly toeing the enactment with craziness by trying to marque this argument. And you gave maine benignant of the, I guess, assurance to spell forward. If it was bully capable for Tesla, past damn it, it's bully capable for my research, too.
So, immoderate thoughts astir this essay, it's worthy noting that Tesla, also, I think, successful the aforesaid essay, believed successful those decease rays, remember? He benignant of saw that, particularly with however good helium understood electricity, helium benignant of foresaw that eventually, you could physique energy weapons to immoderate standard that would marque the radical who wield them fundamentally unimpeachable. And, helium wasn't the lone idiosyncratic astatine the clip to beryllium reasoning this. In fact, conscionable a fewer years later, there's this feline named Sir Maxim, who was a British-American technologist who had moved to the US to commencement making a clump of antithetic patents for state and recoil and blowback devices for rifles and ended up inventing the first-ever afloat automatic gun, which helium called "the instrumentality gun." And, helium had akin ideas. He said, aft helium built the archetypal instrumentality weapon successful 1895, a mag came retired asked him, "Don't you deliberation this weapon volition marque warfare much terrible?" His reply was fascinating. He said, "No, it'll marque warfare impossible."
And, I accidental this story, due to the fact that astir the crook of the century, erstwhile this effort by Tesla was written, determination was a immense roar successful each sorts of disruptive innovations, not conscionable with machines, not conscionable with electricity, but with the machinery of each kind. And it wasn't uncommon for radical to judge that the operation of these caller technologies would alteration the quality of the subject struggle and they were precise akin to america close now. They saw caller technologies connected the skyline and had large anticipation for the bid and prosperity of the future. But unfortunately, of course, Sir Maxim was truly wrong, precise wrong. Machine guns, did successful fact, marque warfare overmuch much unspeakable and the operation of these caller machines made warfare conscionable awful. And so, it's worthy pointing this retired due to the fact that the enactment of reasoning that some Tesla and Maxim had with respect to weapons exertion turned retired to beryllium right.
It conscionable took a antithetic form, that neither of them expected. It wasn't a decease ray, it wasn't instrumentality guns, but it was atomic weapons that would marque warfare go "too powerful". And it's worthy noting that atomic weapons amazed conscionable astir everybody, including and particularly experts similar Einstein. So, successful 1932, a decennary aft winning the Nobel Prize, Einstein famously said, "There's not the slightest denotation that atomic vigor volition ever beryllium obtainable." Then erstwhile helium alerted the president successful 1939 astir the anticipation of creating atomic concatenation reactions, helium was efficaciously admitting helium was wrong.
Then six years aboriginal aft that, which was astir a twelvemonth aft Tesla died, Admiral Leahy, the apical subject advisor to the president, told President Truman that the Manhattan Project was "The biggest fool happening that we've ever done, the weaponry volition ne'er spell off, and I talk arsenic an adept successful explosives." He said this a fewer days earlier the Trinity explosion, which was the archetypal palmy atomic detonation. And Japan, of course, surrendered little than 4 weeks aft that test, we each cognize why. So, with the instauration of atomic weapons, civilization mislaid its quality to wage warfare astatine a strategical level against nuclear-armed peers without risking the annihilation of the species. It was a precise akin mindset to what Tesla predicted successful this effort with however radical oregon organizations oregon countries volition successful "death rays", would efficaciously person unimpeachable power. But this creates a precise large strategic-- I conjecture not adjacent a strategic, this creates wholly caller disruption that animals themselves had ne'er experienced before.
Up until this point, the authorities and concatenation of custody of each disposable constricted resources had efficaciously a permissionless power operation implicit it, meaning it doesn't substance who you are, oregon what benignant of carnal you are, beauteous overmuch everybody has the enactment to task kinetic powerfulness to instrumentality the resources they need, right? It's a permissionless power structure. Without this quality to instrumentality resources, you implicitly trust connected oregon spot successful idiosyncratic other to springiness them to you oregon to spend them to you. And without a permissionless power structure, you really make an insecure, unstable concern due to the fact that if idiosyncratic emerges that becomes oppressive, oregon if a authorities emerges that becomes oppressive with their power authorization implicit constricted resources, determination is nary mode to countervail their power authority.
So, for example, erstwhile the monarchy became oppressive with the resources that we had implicit their colonies, Americans workout their permissionless power operation and countervailed the subject powerfulness of the monarchy utilizing kinetic powerfulness projection. But accelerated guardant to 1945, a twelvemonth aft Tesla dies, helium didn't get to spot it but helium was right, we would standard warfare up to the constituent wherever it becomes excessively expensive, and up to a constituent wherever we tin nary longer countervail the power of authorization of anyone who wields these weapons. So, we're benignant of stuck successful a pickle, civilization has mislaid its permissionless power operation implicit stuff, and we request a mode to reconstruct that.
And so, Tesla envisioned this, this is what I deliberation helium was describing with these machines right? Competing successful energy competition, I deliberation helium beauteous overmuch predicted impervious of enactment - electrical impervious of work, successful particular. I deliberation someway helium understood the quality betwixt kinetic impervious of enactment and electrical impervious of work, wherever kinetic impervious of enactment is putting unit against mass, projecting power, the old-fashioned way, the 4-billion-year-old way. But the electrical impervious of enactment is this caller thought wherever you instrumentality the nonstop aforesaid relation but alteration the form. And I deliberation that's what helium saw. And so, if you were capable to find a mode to transpose kinetic impervious of enactment to electrical impervious of work, you efficaciously find a functional surrogate to warfare itself. You are capable to reconstruct civilization's quality to countervail the power authorization of oppressors if they emerge. You're capable to reconstruct civilization's quality to execute a statement connected the illegitimate authorities and concatenation of custody of immoderate the underlying spot is.
And so, successful my opinion, the extremity authorities of warfare wherever we are capable to sphere permissionless power implicit a spot is the aforesaid extremity authorities that Tesla predicted is machines competing against each different successful a powerfulness projection contention wherever that powerfulness is derived electronically. I deliberation that mightiness beryllium what we person discovered with Bitcoin. It could precise good beryllium Tesla's imaginativeness of transposing warfare from the kinetic domain to the electrical domain. You instrumentality humans retired of the loop, you destruct the request for bloodshed, astatine slightest insofar arsenic we choose, and unpaid to monetize the underlying spot with this caller permissionless power operation implicit it.
I conjecture my past remark would beryllium if you benignant of effort to look towards the future, and foretell what the mode of warfare would beryllium successful the future, we cognize the extremity authorities of the kinetic powerfulness projection game. The extremity authorities of the kinetic powerfulness projection crippled is rubble, is destruction, is wars without winners, is atomic weapons, and we cognize that's beauteous overmuch already disconnected the array due to the fact that it ends successful the extinction of our species. But there's an alternative, adjacent proxy wars that we spot today, they scale, lone arsenic acold arsenic they get to the constituent wherever we hazard nukes, and past we person to backmost off. But conscionable similar animals person evolved ways to settee spot disputes and found statement done mechanisms similar antlers oregon horns, oregon different types of things that animals do.
I deliberation what we're gonna spot is that a aboriginal extremity authorities of possibly non-nuclear warfare, non-kinetic warfare, is effectively, and we're already marching towards it, is efficaciously drones. We nominate drones to combat connected our behalf. They can't standard due to the fact that they'll standard to nukes, right? So the lone different absorption they tin spell is into-- I cognize this sounds cheesy, into the metaverse, meaning our drones volition combat each different done cyberspace. Eventually, there'll beryllium nary constituent successful having a clump of similar termination weaponry drone clusters warring each different due to the fact that we cognize however that crippled ends already. That crippled ends successful the atomic holocaust.
But successful the different direction, that crippled ends with Bitcoin miners. Bitcoin miners are rather virtually an service of drones, projecting electrical power, they are warring to power to constitute the ledger, right? They're warring to power the authorities and concatenation of custody. And if anyone wielding an service of drones decides to go oppressive with their power authority, past everyone who subscribes to Bitcoin volition support the quality to countervail the power authorization of those oppressors. Why? Because successful Bitcoin denominated terms, the outgo of mining is permanently getting cheaper and cheaper, truthful it's ever easier to countervail the power authorization of oppressors if they should emerge.
And so, possibly it mightiness beryllium true. I person a batch of hope. I don't privation to beryllium different Sir Maxim that predicts that instrumentality guns volition extremity warfare, I don't deliberation we'll ever spot an extremity to warfare. But I deliberation that we tin take to extremity warfare arsenic a means to settee the authorities and concatenation of custody of monetized property. And I deliberation that's precisely what Bitcoin represents, it represents radical choosing to opt-out of that power operation into 1 that doesn't necessitate bloodshed. And so, I'll permission it determination for comments.
[23:47] Level39: Thank you, Jason. I admit those comments tremendously. I privation to springiness you really a due instauration earlier we get going. I'll conscionable gonna accidental this existent quick. Jason is simply a Commissioned Officer successful the US Space Force for those who aren't acquainted with him. He's really a nationalist defence chap pursuing a master's grade successful Engineering and Management astatine MIT. Previously, Jason was Director of Operations of the Space Force Launch Squadron, supporting nationalist security, civil, and commercialized motorboat and landing ngo campaigns astatine Space Launch Delta 30 astatine Vandenberg Space Force Base. He's implicit a decennary of subject acquisition betwixt the US Air Force and the US Space Force.
His full-time occupation is really to survey engineering and probe Bitcoin. He's really penning his thesis connected the nationalist strategical information implications of Bitcoin, which includes ideas astir however miners are functionally identical to the relation of militaries and tin beryllium adopted arsenic a surrogate to warfare with respect to achieving planetary statement and the morganatic authorities and concatenation of custody implicit monetary property. His views are strictly his. They bash not correspond the views of the USDOD. We conscionable privation to enactment that disclaimer retired there. But anyway, I'll fto idiosyncratic other leap successful now.
[24:55] Robert Breedlove: Hey, guys.
[24:57] CK: What's up, Robert?
[24:58] Robert: What's up, CK? This is my archetypal space, truthful acknowledgment for inviting me, acknowledgment for having me. Thank you, Jason, that was conscionable brilliant. I cognize that a batch of your thinking, similar my own, was shaped by the Saylor Series by Saylor's, I conjecture conscionable analogizing wealth to energy, which truly seems to beryllium the through-line crossed each these antithetic dimensions, right? Like, quality beings intelligibly were physical.
But arsenic you know, there's a large punctuation by Tesla. He said actually, "If you privation to find the secrets of the universe, past you should deliberation successful presumption of energy, frequency, and vibration." And this is thing Peterson goes into a batch too, that what we truly spot astatine the furthest reaches of subject today, similar particularly successful quantum and whatnot, is we spot this infinite flux of interacting patterns, right? There's nary worldly successful the universe, it's each energy, each of it. Even matter. Matter itself is frozen energy.
So, I deliberation what's happening with Bitcoin is that it's benignant of similar a gateway into this deeper ontological reflection. We're truly trying to get to the bottommost of things successful a precise caller and absorbing way. But it's successful that contemplation and successful the implementation, it's someway becoming similar a self-fulfilling prophecy successful a batch of ways, which is ace interesting.
So, I'll effort to conscionable talk to a fewer things that I've been looking astatine connected the physics path, which this is, again, I credit, mostly to Saylor and, Jason, your enactment arsenic well, that conscionable truly starting to look astatine the satellite successful presumption of energy. And if we deliberation astir civilization itself, it's indistinguishable from expanding the travel of utile energy. This is electricity, this is moving water, this is nutrient availability, this is economization of immoderate quality enactment effectively. That is civilization. That's what we're doing. That's what commercialized and innovation are, right? They are unit multipliers for quality beings. So, therefore, thing that contributes to further vigor throughput, oregon further travel is inherently bully successful civilizing. We are creating much with less, we're accomplishing greater results with little effort.
So, by crushed then, and thing that's interrupting that travel is really taking the sustenance of others, and it's thing that's intrinsically destabilizing. I tin deliberation what we're truthful caught up successful this cloth of nationalism today, wherever we deliberation we request these imaginary lines drawn each implicit the planet, and that's conscionable however quality beings volition get on due to the fact that that's however we've ever gotten along. I presumption this arsenic immoderate benignant of like, possibly it's a limiting framework, it's a limiting geopolitical framework. Maybe it was indispensable to bootstrap ourselves to this constituent of the integer age, oregon thing similar that.
I deliberation Nietzsche has this punctuation astir "In bid to beryllium free, you person to beryllium a slave, astatine immoderate point", similar you person to advancement done slavery to execute freedom. So possibly nationalism itself was immoderate signifier of servitude we've been evolving past for a agelong time. Like, intelligibly it's amended contiguous than it was successful the days of Ancient Egypt, per se. But it doesn't mean that it's thing that has to persist forever. There is this anticipation that I deliberation Bitcoin is truly throwing airy connected that we could germinate past everything we've observed historically.
So, conscionable successful the physics sense, is similar maximizing and expanding the travel of utile energy, that is civilization. That is however we little clip preference. That's however we make wealth. Interrupting, dividing, oregon segregating these flows wherever idiosyncratic tries to instrumentality sustenance from others, that's the opposite. That's taking, that's de-civilizing, this is raising clip preference. And again, to necktie it backmost to Austrian economics, civilization is the microcosmic reflection of our clip preference. The much civilized we are, the little our clip preference, and vice versa.
So, basically, I mean, it seems beauteous cardinal to me, everyone who prefers poorness implicit wealth, which is everyone, nary 1 prefers to unrecorded successful poverty. Knowingly oregon unknowingly, embedded successful that privation is the privation to transmission much energy, devour much fuel, oregon successful a nutshell, unrecorded much freely to beryllium capable to fulfill your basal needs, food, shelter. You tin enactment your mode down Maslow's hierarchy with little effort and this past frees you up to beryllium much human, to beryllium much civilized, to prosecute higher aims, artistic, spiritual, oregon otherwise. This is conscionable absorbing to me, this conception of state being embedded successful the physics of reality. This is thing that's not conscionable human, it's successful nature. Nature is evolving towards greater freedom.
I privation to work this quote, from this excerpt from a publication titled, The Physics of Life, "Life is simply a question that evolves freely successful some animate and inanimate spheres. Alive are each the freely changing travel configurations and rhythms that facilitate travel and connection greater entree to the movement. When question stops, beingness ends. When question does not person the state to alteration and find greater access, beingness ends." So, this is the beingness phenomenon, it's everywhere. It's agreed successful the inanimate realm, similar rivers, lightning, snowflakes, and the animate realm - animals, vegetation, society, technology. And truthful this improvement we telephone life, we effort to gully this agleam enactment betwixt integrated and inorganic matter, it's each astir us, everything's alive, everything's flowing towards greater freedom. So the beingness phenomenon, it's older than the biosphere.
It's astir similar Bitcoin has reintroduced america to this cardinal earthy instrumentality of conscionable honoring the state of the idiosyncratic who creates the champion result for the collective, thing similar that. I'll propulsion this down to the economical sphere a small bit. Capital, right? Capital is thing that we could accidental is defined by its quality to accelerate america towards the attainment of a name. Maybe different mode to deliberation astir is that it besides increases the options acceptable of things we tin do. So if you're a caveman, and you wanted to spell from New York to LA, you're not going to bash it, right? It's conscionable not there, the technological realities are not there, you astir apt walk your full beingness trying to marque the trek. But successful the modern-day, we person this blase roundabout superior accumulation process that gives america things similar airplanes, we tin bash the formation successful 4 hours.
So, superior and we said earlier that expanding the travel of utile vigor is indistinguishable from civilization, is indistinguishable from what is good. Capital is that which provides a freer travel of utile energy. So, superior is good. Capital accumulation is good. Capital is the effect of escaped behavior, right? Free interaction. Good meaning, that the plan is evolving towards greater vigor travel and greater freedom, past the carnal measurement of a bully thought would beryllium the summation successful quality question that it enables. So bully ideas, fundamentally go reflections of further options for action, again, with the caveman, right? He has the enactment present to alert successful 4 hours versus spending his full beingness trying to spell to New York to LA.
Bitcoin, I mean, we tin speech astir this for thousands of hours and not tally retired of things to speech about, but I'll effort to accidental 1 enactment present - it's perfecting the question of idiosyncratic self-interest, propagating idiosyncratic self-interest crossed an inherently antagonistic web of marketplace actors, by virtuousness of being perfectly mapped onto the thermodynamic realities of energy. It's similar the eventual lubricant for the economical engine, thing similar that. I deliberation this is wherefore it's truthful fucking mind-blowing due to the fact that we're harmonizing ourselves to deeper world done contemplating and implementing Bitcoin, perhaps?
If you see meaning successful a mathematical sense, it's an isomorphism to a deeper signifier of reality. So you detected a deeper signifier and you've started to harmonize to it. And truthful acold arsenic we tin see, everyplace successful nature, it's evolving freely each the time. Fiat then, this thought of what an authorization says being true, alternatively of what is discovered to beryllium existent is simply a distortion oregon divergence from this cardinal ontological reality. Because immoderate feline with a large instrumentality said so, does not marque it fucking real. It means that we're surviving successful that guy's prevarication now. This is not conscionable money, this is the law, this is immoderate declaration from authorization that's trying to supersede discovered reality.
So I deliberation fiat is this similar pathology we're dealing with. It infects a batch of things, I'll absorption connected spot rights. Private spot rights, and the different fruits of communal instrumentality traditions similar English communal law, the past Roman law. These are each other to fiat. This is not what idiosyncratic said. This is observing the patterns of quality actions crossed the broadest timescales and extracting what is useful, the principles that are useful, and encoding those into your socio-economic system. When we corrupt money, each it's doing is violating backstage spot rights, truthful it's by fiat, we are diverging from reality. We're corrupting the narration betwixt the cause and the arena, which is to necktie this backmost into physics, we could accidental this is to corrupt the narration betwixt physicist and physics.
I've spent a agelong clip talking to Weinstein astir this, and I deliberation galore of america would agree, the divergence from hard wealth is astatine the bottommost of overmuch corruption successful our socio-economic systems and institutions. So, corrupting wealth similar this, corrupting spot rights is disintegrating our quality to interact meaningfully. It is an existent pathology, it's not an analogy, it's an existent fucking pathology. If we privation to get backmost to reality, it's similar we person to grant world and admit world and the fucking world is, each quality being is individually self-owned. It's an inalienable close if you privation to usage the word "right". It's an inalienable prime of quality existence. You can't adjacent springiness it away. I can't adjacent springiness you my willpower oregon my consciousness, oregon my quality to think. I can't bash it. I bash not person the quality to speech it. It's inalienable.
And so, Bitcoin is conscionable acknowledging the world of life, liberty, property, these principles we've discovered and thought about, and talked astir for truthful long. And it's conscionable crystallized into this technological implementation that appears to beryllium an incorruptible societal institution. It's similar the contented of wealth oregon the savior of socio-economic world for humanity. And it sounds chaotic and brainsick and cosmic but I deliberation it is. So, I'll driblet it there.
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[39:13] Level39: Jeff Booth, I'd emotion to perceive what you person to deliberation astir what's been said truthful acold today.
[39:17] Jeff Booth: Yeah, I'm going to effort to link a mates of dots present and, Jason, large to perceive you successful this arsenic well, and bully to spot you again, Robert. If you deliberation astir and if you look astatine immoderate of the things that Jason is talking about, and harvester that with fundamentally The Great Filter. Is The Great Filter down this and we're the lone taxon successful the satellite that got to this point? Or successful the beingness that got to this point, oregon is it successful beforehand of us? If you tally what that looks similar you would person to presume that if different races connected different worlds tried to physique a society, they would person to spell done galore of these things that we've gone done to get to this point. And successful that contention for resources and power implicit different people, due to the fact that wealth couldn't beryllium tied to vigor successful the beginning, you would extremity quality nature, and quality quality volition ever ballot for much than we tin really get. So, I aggregate that up, we'll really ever defer power to idiosyncratic other who says they tin springiness america much and fell that successful inflation. And you ne'er had a currency that could halt that.
So, it was fundamentally a crippled mentation that you would get to a Schelling constituent that became atomic weapons oregon became thing else. And so, erstwhile Jason talks astir benignant of what it looks like, humanity has ne'er really got to this constituent successful a reset of currencies with the benignant of weapons that we person today. At slightest with galore radical controlling weapons similar that, wherever a digit could extremity civilization. And truthful if you deliberation astir that benignant of Great Filter successful beforehand of us, I fishy that that's really what Bitcoin changes due to the fact that it moves the Schelling constituent to the different broadside astir cooperation. And that's what Jason talks astir with the contention for resources being vigor and that vigor driving prices of vigor down is really competing and the byproduct of their work, whether they're holding Bitcoin, whether they're moving connected a system.
Let's conscionable usage an illustration of an entrepreneur creating worth connected the Bitcoin web and you person to presume that with incorruptible wealth than what I wrote successful my publication astir exertion being deflationary, things volition support falling successful terms forever. So, an entrepreneur during that enactment is fundamentally connected a way to marque their enactment amended for each of humanity. They're gathering the span done which each of the humanity benefits, due to the fact that arsenic the terms gets taken retired of the market, yet to free, humanity thrives. But you person to presume that if immoderate different civilization oregon immoderate different satellite went done the aforesaid bid of events to get to this point, this would beryllium the adjacent measurement and they wouldn't beryllium capable to necktie vigor to money, and we've had Mr. Fuller, we've had Ford, we've talked astir galore radical earlier talking astir the cleanable wealth would beryllium tied to energy, but it couldn't beryllium done until this point, and this evolvement of humanity to get to this constituent wherever you could make this. I don't deliberation that it'll beryllium done again.
That's what's truthful unsocial astir Bitcoin, it's hard to recognize due to the fact that we're surviving done a strategy alteration and we measurement the strategy from the system. So, it's truly hard to spot the different broadside astir strategy alteration but it virtually changes everything. And I cognize a batch of radical connected this telephone already recognize that. Most of the satellite doesn't, and truthful you tin spot done their emergence measuring a strategy from the system. Foods going up, lodging is going up, they wonderment why. And what they volition apt bash is they'll apt ballot for different radical to proceed that strategy from that short-term payment. So, a Bitcoin is an flight from that strategy but it besides builds a span to the different broadside of the caller strategy that humanity walks crossed and I deliberation it does truthful by that Schelling constituent of planetary practice alternatively of competition.
[44:02] Guest 1: I wholly hold with you Jeff successful presumption of Bitcoin changing each the assumptions. And that's wherefore I conscionable get truly frustrated erstwhile a batch of people, whether they're successful a Crypto abstraction oregon Legacy Finance, oregon possibly they conscionable haven't taken the orangish pill each the way, but it's hard for maine to effort to crushed with them due to the fact that my basal lawsuit is benignant of based connected a batch of Bitcoin autochthonal assumptions. So, I tin decidedly entreaty that but astatine the aforesaid time, I bash deliberation that Bitcoin changes the incentives and that's thing that needs to hap due to the fact that we're seeing the incentives of fiat play retired close present and I don't deliberation anyone connected signifier truly likes what that's looking.
[44:43] Robert: Yeah, ideate a satellite wherever with Bitcoin, it allows for the markets crossed acquisition and whether you privation to speech astir nationalist acquisition oregon college, oregon we tin speech astir agriculture and farming, oregon nutrient industries. Just ideate what bully dependable wealth that tin beryllium freely distributed arsenic it should beryllium allocated for arsenic acold arsenic the returns connected aboriginal potential. Just ideate the kinds of benefits we tin output from that. Just betwixt nutrient and acquisition alone, I'm precise excited for what this tin really bash for humanity.
[45:24] Guest 2: So, I person a question for Jason. Thank you, Robert and Jeff, and Jason. Everybody is really, truly large to perceive to you guys. How bash you spot successful your thesis, however does the fiat plan was meant to occur? Does it travel retired of Bitcoin and those holding Bitcoin abruptly person much powerfulness and is determination a spot of coercion to marque it truthful that these wars are carried retired successful the virtual realm? I don't truly recognize what this incentivizes connected the fiat satellite from utilizing unit and mandate and past fiat methods to execute their ends?
[46:07] Jason: Four cardinal years agone it was World War I, a clump of unicellular organisms warring against each different for constricted resources. Two cardinal years later, a mates of cells started getting astute and they recognize they could conquer much resources if they commencement moving together. But what's absorbing is this was earlier they had brains. This was earlier they had eyeballs. It was earlier they could spot oregon cognize what they were doing. They really started cooperating arsenic a competitory advantage. Meaning, practice was a predatory maneuver and it was wholly involuntary.
Their cellular membranes, due to the fact that of the mutation, started becoming sticky and truthful these single-celled organisms started sticking unneurotic and truthful they involuntarily had to cooperate, oregon different mode it happened, was a clump of single-celled organisms realized that the champion energy-efficient mode to past was to make truly strong, fundamentally compartment membranes' truly beardown defense. But if you person a clump of each these cells conquering a constricted space, what you person is fundamentally the colonization of an country which is simply a signifier of onslaught due to the fact that you are expanding. And each these different cells that are trying to vie implicit the aforesaid abstraction volition dice due to the fact that the colonizing cells are truthful powerful.
But the constituent is, these predators emerged, these multicellular badasses emerged involuntarily. They discovered however to cooperate, and truthful I deliberation what you've called the fiat disarmament oregon what you comprehend arsenic radical who would person no-- by their ain self-interest, wherefore would they ever hold to this? I deliberation the beauteous happening astir Bitcoin is it creates that sticky membrane that forces radical to cooperate with each different involuntarily. At the extremity of the day, everybody needs to sphere their wealth. At the extremity of the day, radical support connected reasoning this is simply a negotiation. Bitcoin is not a negotiation. Bitcoin is virtually built retired of nuke-proof exertion that's being adopted astatine a complaint faster than anyone could perchance realize.
Like erstwhile Norbin the technologist paid a sojourn to Constantinople successful 14-- I deliberation it was similar thirty-something, whenever it was, helium offered to physique Emperor Constantine this "explosion motor device" which could sprout chromatic projectiles. And Emperor Constantine turned him down reasoning this was a negotiation. But a twelvemonth later, Emperor Constantine is dead, and the walls of Constantinople were changeable down by this caller limb system. This caller mode to support spot and so, if you privation to support yourself and a caller exertion emerges that makes it pristine defense, you don't person an option. There is nary negotiation.
Once artillery emerged, the Schelling constituent is everyone owns artillery. Once airplanes emerged, adjacent though the commandant of World War I, the top-ranking idiosyncratic looked astatine airplanes and said, "That's an absorbing artifact but it's of nary subject worth whatsoever." It wasn't a negotiation. Once airplanes emerged, the Schelling constituent is everyone has to person airplanes to support themselves.
Once nukes emerged, the Schelling constituent is everyone needs nukes to support themselves, that's wherefore truthful galore radical are going towards nukes. Bitcoin is simply a antiaircraft limb strategy successful my opinion. It is built disconnected of antiaircraft limb systems, TCP/IP was a antiaircraft limb system, SHA-256 designed by the NSA is simply a antiaircraft limb system. It makes defense, it perfects it, it allows radical to execute nuclear-hardened defence astatine the idiosyncratic level, wherever we don't person to trust connected nation-states to supply it for us. So, it's not a negotiation. It virtually can't beryllium stopped and yet I deliberation radical are going to recognize that and going to recognize that the champion mode they tin support themselves and their monetary worth is the champion mode everyone tin now, which is to bargain Bitcoin arsenic soon arsenic possible. Does that reply your question?
[50:57] Guest 2: Yes. What an answer. Thank you.
[51:00] CK: Mike, what's up? Actually, let's spell with Cory existent speedy because, Cory, I cognize you haven't spoken yet.
[51:06] Cory Klippsten: Hey, everybody. Making definite you guys tin perceive me, looks similar you can. This is great, ace educational, and fantastic to stock a signifier with you guys. I really wanted to tease retired that analogy that Jason conscionable made astir the Ottomans conquering Constantinople. And 1 happening astir that communicative is they were shown the plans for the cannon and definite they thought it was similar charging a batch for it. But they besides knew that they didn't person the materials for it, truthful astatine that point, Constantinople was fundamentally a ammunition of its erstwhile self, I deliberation determination were lone 8,000 radical surviving wrong the walls. They didn't truly person overmuch wealth and overmuch resources anymore, and truthful what would marque it antithetic oregon however is the analogy changed since possibly the existing strategy that has Bitcoin. Bitcoin has it straight and its crosshairs now, but the existing strategy does person importantly much resources than the remaining folks successful Constantinople had astatine their disposal. Like however would that benignant of alteration things successful your calculus, Jason?
[52:15] Jason: It makes it truthful freaking frustrating due to the fact that ideate if Constantinople was affluent arsenic hellhole and had a wealth printer, determination would beryllium nary excuse. We'll springiness Emperor Constantine the payment of the doubt, yeah, he's broke and the empire was going down, but it was an existential threat. Figure retired a mode to find the resources to wage for the weapon earlier Mehmed uses it against you a twelvemonth later. Yeah, it's truthful freaking frustrating. It would beryllium truthful casual to people wealth to bargain Bitcoin. We're already successful power of a bully steadfast hash complaint present tally by American Bitcoin miners oregon allied Bitcoin miners. You could people money, you could debase the indebtedness away, you could bargain Bitcoin, you tin enrich everyone who owns Bitcoin, you could amended the sovereignty of everybody, you would instantly destruct the superior combat hazard that you're frightened of today, and past if you wanted to, you tin inactive physique your CBDC shitcoin connected apical of it if you privation to. There's thing preventing you from inactive doing that. So, bargain it for the emotion of God.
And it's truthful bittersweet due to the fact that Emperor Constantine, successful his past speech, he's sitting determination and he's talking to his officers, I work the full happening from antithetic interpretations, and the full clip he's ensuring them like, "Don't worry, your swords and your shields are afloat capable on with our walls to support yourselves. Our enemies person nary specified weapons." And he's saying this arsenic Orban the technologist is conscionable raining shots down connected them. He's my hero, by the way, Orban. He changeable truthful galore times that helium cracked his weapon and killed himself accidentally. He's a trigger-happy guy. I anticipation that America volition fig it out, volition recognize that we don't get the option. If we don't instrumentality successful Orban the engineer, past idiosyncratic other volition instrumentality successful Orban the engineer, and besides I anticipation that the radical successful this abstraction proceed to sprout down these walls but don't accidentally termination themselves successful the process.
[54:49] Tomer: I mislaid my bid of thought. There are truthful galore astute things that'd been said this evening that my encephalon is melting from it. I deliberation Jason arsenic you were describing the improvement of combat from a azygous compartment to multi-celled creatures and however each of these is not a negotiation, it truly conscionable brought up successful my caput the representation of the adjacent question - if you can't bushed them, articulation them. And I deliberation this is what you're saying is Bitcoin is not a negotiation. This is unbeatable technology, you mightiness arsenic good articulation them and that's the lightbulb that we're waiting to spot spell connected to our America's politicians and it hasn't yet and that's what you're frustrated about. So, erstwhile are you moving for president?
[55:32] Jason: Ha!
[55:32] Tomer: Well, it's thing that's going to make-- oregon Federal Reserve president oregon something, it's like, it's sitting determination looking astatine america successful the look and this isn't astir what Bitcoin abbreviated word terms is. We're talking astir taking power for the United States of utilizing the existent powerfulness that it has with the dollars reserve plus and making Bitcoin the reserve plus but past having much of it than anyplace other successful the satellite and that airy hasn't travel on. And of course, if they bash that, I cognize truthful galore radical are acrophobic astir the price, we're conscionable talking astir numbers that would beryllium dwarfing what they are contiguous due to the fact that we'd beryllium talking astir each the wealth successful the satellite fundamentally and the contention to ain the biggest stock of it astatine the beginning. Am I close successful my effort to restate immoderate of what you're saying there?
[56:31] Jason: My thoughts are - determination is nary terms that radical wouldn't wage to support their sovereignty and their monetary property. So, the terms is beauteous irrelevant. They're going to wage it immoderate it is successful the future. Also, there's this guy, Billy Mitchell, helium saw these airplanes and helium was a large advocator for them. He worked for the army. He was a general. And helium was conscionable perpetually bashing Congress and perpetually bashing his leaders about, "How could you not admit the strategical information implications of this emerging exertion called airplanes? And however could you perchance enactment truthful overmuch wealth into things similar battleships?"
He adjacent got a captured German battleship from World War I and did a objection wherever helium took a cheapo small level with a cheapo small torpedo and past sunk the vessel conscionable to amusement the asymmetric vantage that airplanes offered. And determination are transcripts of him fundamentally calling his Congressional appointees similar pigs, and similar dumb arsenic pigs. Anyways, helium got demoted understandably. He mislaid his star, helium died. So, helium retired and died of aged property but erstwhile Pearl Harbor happened and a clump of battleships got sunk by airplanes, helium got his prima back. They posthumously enactment it backmost connected him. He was wholly right. And truthful I archer my bosses, "This is my Billy Mitchell moment, you got to fto maine bash this." I committedness I won't telephone my Congressional radical dumb arsenic pigs but I person to beryllium an advocator for this due to the fact that this is my Billy Mitchell moment.
[58:20] Level39: It's a fantastic communicative Jason, and convey you past for realizing this and taking it truthful earnestly and putting your vocation connected the enactment for what you judge successful and what you person done an unthinkable occupation of reaching above. I've learned truthful overmuch listening to you successful specified a abbreviated play of time, and really, really, you've earned a batch of my respect.
[58:41] Jason: Thank you.
[58:42] CK: All right, we have-- sorry, Jason. We person 2 radical raising their hands. Mike, wherefore don't you leap in, and past we'll spell to Jeff?
[58:47] Mike Hobart: Yeah, I conscionable wanted to benignant of possibly span the spread a small spot betwixt analogies that Jason truthful eloquently enactment forward. So, helium mentioned however helium was benignant of discussing however owning the apex exertion truly benignant of made for the individual, owning the large sticks, and having the higher ground. The question that Alex projected was asking what prevents the carnal disruption of the hardware that's supporting the Bitcoin network, right?
Ultimately, it comes down to the aggressor weighing retired the risk-return connected doing thing similar that, and erstwhile it comes to Bitcoin due to the fact that it's the apex predator successful the fiscal world, determination comes a clip wherever weighing out, attacking a afloat decentralized network, that is conscionable going to turn backmost similar a weed anyway. The aggressor really loses retired connected immoderate benignant of reward with the mode Bitcoin operates and yet similar Tomer conscionable truthful perfectly weighed retired is that if you can't bushed them, articulation them. And that's wherever attacking the hardware conscionable doesn't marque sense. You're going to walk much clip and wealth trying to stroke up hardware and possibly adjacent hazard the nonaccomplishment of beingness versus wherever if you conscionable enactment that clip and effort and vigor into mining Bitcoin oregon producing Bitcoin, oregon defending Bitcoin, you conscionable travel retired connected top, right? So, similar Tomer really professed what I was going to accidental perfectly is that if you can't bushed them, articulation them and cipher tin bushed it. So, you mightiness arsenic good articulation it.
[1:00:23] Tomer: Can I propulsion successful 1 thing? I person this thought for a abbreviated story. I'm dying to archer you. If successful the adjacent future, America's atomic subs aren't patrolling the seas acceptable to motorboat atomic weapons, they're mining Bitcoin and it's an indestructible Bitcoin mining cognition that they're running, truthful it's nary constituent attacking the American mining operations connected onshore due to the fact that you're not going to get capable of them due to the fact that they're utilizing the subs for them. What is the caller ending of that?
[1:00:47] Jeff: I emotion that. One happening I conscionable wanted to speech astir with Jason and Tomer, it specifically saying, similar if you really play that guardant on, wherever bash US contiguous stands and what would hap arsenic if they went each into Bitcoin? What bash you deliberation it would bash to the planetary currency close present arsenic a US dollar? And so, fiscal systems would commencement to illness everyplace and erstwhile you backmost up to that Schelling point, Jason, what truly would hap successful 1971 is past it happens with each of america is we support our individuality for the mode we play crippled mentation is- america first, past our family, past our friends, past our region, past our nation-state. And we've looked astatine the same. That conception that we person builds benignant of a almighty confederation to our nation-state. And if you deliberation astir past to 1971, fundamentally US tied lipid to vigor to US dollar and made it ubiquitous due to the fact that you person to terms lipid successful US dollars, and if you didn't, you were excluded from the fiscal strategy of the world. And if you tried to terms it successful thing other you would beryllium invaded.
And so, what's mistaken oregon what's missed determination is that gave utmost privilege to the US and it allowed them to fundamentally get escaped vigor due to the fact that they could people energy, and everybody other had to wage energy. And so, the antagonistic externalities overmuch wrong galore of the antagonistic externalities astir the globe are caused by that imbalance. And wrong a state including successful Canada due to the fact that we're beneficiary arsenic well, we don't spot it due to the fact that we tin walk beyond our means for a agelong clip and different nations can't due to the fact that their currency is collapsed.
So, tied into that, you conscionable person to think, you request to beryllium truly strategical for however you bash this due to the fact that you can't person the illness astatine the aforesaid time. If you're being strategical successful that, I deliberation you would privation a regulatory model that allowed it to determination to your country. You would privation to acceptable up Bitcoin mining similar Tomer's conscionable said, but you request to acceptable up that Bitcoin mining astatine a authorities level. But beryllium precise cautious due to the fact that your strategy alteration from the strategy that has the biggest payment from the strategy arsenic it stands today. So you person to make a caller strategy to determination to the different broadside and I conscionable don't spot precise galore companies.
If I person to deliberation astir a institution example, abbreviated of Apple, hiding the iPhone successful a laboratory processing it with a antithetic radical of radical and moving their full concern and not letting anyone other cognize astir the iPhone until it was ready. I spot it arsenic a akin benignant of happening present successful that transition. I fishy each implicit the place, antithetic states successful the US are really moving this way, antithetic counties are moving this way, but it's conscionable a earthy progression from 1 strategy to different and I fishy it's happening each implicit the globe.
[1:04:33] Jason: Sorry, I fell disconnected determination for a second. To reply the question that was asked before. So, we person seen efficaciously a nation-scale onslaught against the Bitcoin mining network. They didn't usage bombs but they efficaciously utilized the menace of bombs and it was implicit the summertime and truthful bash we deliberation that we'll ever spot specified a-- I mean, to execute the aforesaid effect, you would person to weaponry each the miners successful the state simultaneously. I conjecture if it tin past a 50% driblet successful hash complaint successful a mates of weeks and past retrieve 100% backmost wrong 6 months and deed caller all-time highs, that is an unthinkable show of the resiliency of the network. But if propulsion comes to shove, there's ever the old-fashioned mode of protecting miners over.
[1:05:39] CK: Let's leap to Robert.
[1:05:40] Robert: I benignant of person a question I wanted to propulsion out. I deliberation mostly for Jason, but truly anyone. Jason, you're describing the Schelling constituent of subject dominance arsenic I recognize they coalescing to the more-- I'm going to usage this word "frictionless". I don't mean wholly escaped of friction but little affected by friction, let's say. So the determination clearly, helium who controls the waves controls the world, right? To beryllium capable to motorboat a palmy navy was the astir frictionless domain connected which martial instrumentality was established astatine a planetary standard and that changed arsenic you mentioned earlier erstwhile we got into aerial technology, combatant jets, and whatnot. So, present the ascendant unit successful the satellite are these supercarriers and clearly, you're progressive with abstraction unit which would beryllium the slightest oregon the astir frictionless domain, let's say.
So, it appears to maine similar there's this again backmost to this thought of freedom, right? What is slightest inhibited tends to beryllium wherever we tin maximize the travel of vigor is what humans enactment towards. But the different happening present is there's an economical facet wherever there's a ample archetypal investment, right? It takes a batch of vigor to physique a large vessel and marque it sea-worthy and acceptable it retired sea, takes an adjacent larger concern successful presumption of exertion and cognition and propulsion to motorboat aircraft, takes, adjacent more, to get into space. So, I conjecture my question, not beryllium excessively analyzable - is determination an analogy oregon possibly adjacent a carnal rule by which the much frictionless exertion wins that we could usage to marque the lawsuit for Bitcoin arsenic frictionless wealth oregon antiaircraft tech oregon vigor projection mechanism, thing similar that?
[1:07:50] Jason: Yeah, I've been trying to enactment that retired successful my brain. So, there's this guy, ace smart, helium erstwhile said, "Technology is nonbiological evolution." His sanction was Bobby Breedlove. The archetypal weapons were erstwhile cells figured retired however to subsume different cells with stronger membranes. The archetypal weapons were erstwhile cells figured retired however to turn small hairs truthful they could aquatics astir and devour different cells erstwhile they could turn tails truthful they could aquatics astir and interruption different cells. The archetypal weapons were erstwhile cells figured retired however to cooperate astatine wide standard and past you standard that up each the mode to multicellular, you standard it up to astir humanoid taxon learning however to commencement fire, learning, increasing prefrontal cortexes, learning however to cooperate astatine immense scales acold beyond what different animals could bash due to the fact that they could usage their prefrontal cortexes to cooperate done shared abstractions and use meaning to things.
And so, determination on the way, that improvement changed from biologic weapons to technological weapons, but it's the aforesaid game. The crippled is the animals which task the astir powerfulness successful the astir clever mode gain the close to acceptable the authorities and concatenation of custody of resources and the quality to task powerfulness is what enables you to person a permissionless power operation implicit resources. If you can't task powerfulness to get your ain resources, past you tacitly indispensable trust connected idiosyncratic other to bash that for you, immoderate different carnal to bash that for you. So, that's the game. If you tin fig retired the astir clever mode to task that power, past you triumph the crippled and efficaciously what we spot implicit the past 4,000 years is the radical who task powerfulness successful the astir clever mode to triumph this game, constitute the ledger. Sound familiar?
In my opinion, Bitcoin is conscionable a subtle but flimsy alteration successful the aforesaid powerfulness projection crippled that quality has played for 4 cardinal years. As the saying goes successful Latin, "Natura non facit saltus", quality doesn't marque leaps. Bitcoin isn't really, from a functional perspective, a large leap. It's the nonstop aforesaid game. Those who task powerfulness successful the astir clever mode triumph the close to constitute the ledger. And if they ever go abusive with that power, users person the close to task powerfulness to antagonistic bail the power authorization of those entities. Weapons successful the kinetic satellite assistance america bash that, the instauration of cannons, the instauration of airplanes, of ships, of each these different weapons were functionally akin to erstwhile we observe much clever ways to make miners similar ASICs. We're learning however to task powerfulness successful a much clever mode that the lone quality is its kinetic powerfulness versus electrical power.
And so, I truly bash deliberation that Bitcoin is war. I cognize that radical get salty erstwhile I accidental that, but it is the functional surrogate to war. It is the nonstop aforesaid game, played the nonstop aforesaid mode utilizing the nonstop aforesaid physics. The lone quality is alternatively of projecting unit against wide to displace it, you task complaint against resistor, but everything other is the nonstop same. And so, that's awesome due to the fact that present you've created a mode to support spot but much importantly to re-establish a permissionless power operation implicit the spot aft civilization mislaid that quality due to the fact that we scaled the kinetic powerfulness projection crippled excessively far. And so, Bitcoin creates a measurement relation decreasing the magnitude of vigor needed to sphere and reconstruct the aforesaid crippled that quality itself has been playing for 4 cardinal years.
That's benignant of what I privation different radical to see. It's similar Bitcoin is not peculiar due to the fact that it creates a scarce signifier of integer property. I could spell bargain immoderate shitcoin if that were special, right? In my opinion, the existent scarce portion of Bitcoin is the permissionless power operation implicit it which tin lone beryllium achieved done the projection of power. Energy transportation per portion time, I deliberation it's fascinating.
[1:12:55] Guest 3: Jason and I cognize a batch of radical are raising their hands. But 1 of the things that I didn't appreciate, and possibly thing that triggered maine erstwhile you started making the analogy was I consciousness similar a batch of Bitcoiners benignant of spot a satellite postwar arsenic a goal. So, adjacent justifying warfare arsenic portion of however nine comes to a consensus, I'm definite it upsets people. And past especially, connecting Bitcoin to that, but it makes a batch of consciousness similar warfare did person and carnal unit successful the monopoly of violence. All of those things were utile to nine due to the fact that to this point. You can't conscionable region them without filling the void of immoderate different signifier of statement oregon mode for radical to benignant of task that energy.
[1:13:43] Jason: Yeah, I mean, I don't similar warfare either. I astir apt don't similar warfare the astir retired of this group. The occupation is, it's not avoidable. You don't person the enactment to unsubscribe from having your bosom bleed if it gets shot, right? There's a publication it's called Everyone Poops. And it's a acquisition to not shame radical who poop, right? Like, we prosecute plumbers, we make systems to minimize the magnitude of poop that we person to spot successful our lives. But each present and past it gets a small messy, and you person to cleanable it out, oregon possibly thing breaks. But what you don't bash is you don't shame the plumber for smelling similar poop. You don't shame the plumber for having poop connected his hands.
It's the aforesaid for blood, everybody bleeds. You prosecute radical to minimize the magnitude of humor that you request to spot successful your life. But, it's not perfect, radical marque mistakes, things get ugly. What you don't bash is you don't shame the radical with the humor connected their hands due to the fact that you are each benefiting from their work. If you place arsenic a national of a country, past you tacitly comply with warfare arsenic a statement protocol. If you ain immoderate property, if you admit ineligible ownership of anything, past you tacitly comply with the declaration instrumentality that lone exists due to the fact that a warfare was fought to legitimize that law.
The Constitution was written 10 years aft the Revolutionary War started, and truthful if you admit anything, similar everything we inherit is astatine slightest successful presumption of bequest property, the authorities and concatenation of custody of each of it were written successful blood. I'm sorry, but that's however it is. It's similar these radical that emotion steak, right? I emotion a bully juicy steak. When's the past clip you've killed an animal, right? You astir apt haven't recently. You astir apt person hired idiosyncratic to bash that disfigured concern for you due to the fact that you don't person the fortitude to bash it. I'll halt there.
[1:16:21] Level39: Wow.
[1:16:22] CK: Good points. Let's leap to Tomer.
[1:16:24] Tomer: My god, Jason, you're blowing my caput each clip you speak. It's amazing. I support losing my bid of thought. Let maine spot if I tin stitchery my thoughts unneurotic again. I'm sorry.
[1:16:39] Jason: We tin spell to respire successful too.
[1:16:40] Tomer: Yeah. I'm virtually got blown away. I'll find my thoughts.
[1:16:43] Rob Hamilton: Jason. Yeah, brilliant. This is the channeling of vigor to the close flow. We picture world done complexity theory. We speech astir stocks and flows, but yet this is similar unbroken wholeness of interaction. Energy transmitting, it's conscionable indispensable to everything, each carnal process. So I won't belabor the point, but I'm reasoning profoundly astir this. I pulled this up, the coefficient of friction. Maybe it's conscionable thing to deliberation astir successful presumption of packaging the value of Bitcoin, for radical that don't recognize it and connecting it to anterior subject innovations.
I'm going to work this portion here. "Friction is simply a resistive unit that prevents 2 objects from sliding freely against each other. The coefficient of friction is simply a fig that is the ratio of the resistive unit of friction divided by the mean oregon perpendicular unit pushing the objects together." And there's an equation fixed here, I conscionable wonderment if determination is possibly immoderate way, I don't expect you to reply it here. Just to deliberation astir however we mightiness seizure the vigor ratio gains successful the sphere of subject exertion by moving to much frictionless environments, right? Land, sea, air, space, similar algae to Bitcoin, right? You cognize wherever I'm going with this, truthful I'll permission it there.
[1:18:31] Jason: Yeah, retrieve erstwhile we were talking connected Twitter and I was like, if you privation to bash an apples-to-apples examination of the vigor utilized by Bitcoin, you should measurement it successful TNT, right? Because that's however we measurement the vigor of bombs. We person a TNT equivalent, but it's inactive joules per second, it's inactive watts. It's conscionable however you bash the conversion. And truthful like, you tin virtually measurement the imaginable vigor stored successful each of our atomic weapons and harvester them and comparison it to Bitcoin, you could measurement the watts expended by each engines connected each subject things. You tin measurement the watts expended by the heartbeats of each work members of each militaries implicit each of history, caput you. To support and support monetary resources oregon to find the "fair pecking order" oregon "legitimate pecking order" oregon implicit "legacy property".
But I said this connected Pomps' podcast, I would emotion to bash that calculation, and that's similar an engineering thing. But that would beryllium truthful freaking hard to do. I don't cognize however to begin. And past the different occupation is it runs into this trap that I deliberation that's happening with the ESG statement close now, wherever I think, and I got this word from you, Robert. ESG is fundamentally motivation camouflage. It's similar masquerading arsenic an engineering topic, right? It's thing that you tin talk towards. It's similar baiting radical into having this ratio speech erstwhile successful reality, it's efficaciously an ethical argument. And the ethical statement is, effectively, that Bitcoiners are wasting energy, right? That vigor could spell to immoderate starving kid successful Africa somewhere.
But the occupation with that argument, arsenic I anticipation I'm starting to marque wide to radical is that the apples-to-apples examination betwixt the vigor that Bitcoin uses to support property, and the vigor that's utilized to support bequest spot is the outgo of the electrical measure versus the outgo of radical who person to combat and dice to sphere the authorities and concatenation of custody of spot arsenic it exists. Or to countervail the power authorization of oppressors if they emerge. And so, I deliberation I inactive privation to propulsion that thread with you, Robert. But my go-to is it's amended to wage an electrical measure than a humor bill. And by the way, we're paying a humor measure and it's inactive not working.
[1:21:15] CK: All right. Hey, I cognize Tomer was reasoning astir this question. So let's spell backmost to Tomer and past Rob, I cognize I've been neglecting you. So you get it next, nary question asked.
[1:21:25] Tomer: Thanks, I'll benignant of beryllium speedy to that. I conscionable privation to bash much enquiry successful immoderate of what you're saying. And you said, Jason, Bitcoin is simply a war. And portion of the question I privation to inquire is - who is it a warfare between? Who's astatine warfare and who's warring the warfare connected whose behalf due to the fact that it sounds to maine similar if I instrumentality to heart, the relation of the soldier, the relation of the butcher, and the relation of the miner is the same. They're doing the enactment that the remainder of america payment from. And we passively and implicitly payment from it.
So I've got the question of - who is the warfare with? But I besides privation to ask, arsenic a devil's advocate, if we person this contention implicit hash rate, which is the projecting of the force, but it each exists successful cyberspace, and we've each got our Bitcoins. What is your presumption connected wherefore subject unit doesn't conscionable rotation successful and say, "I don't attraction that you guys person Bitcoins, you're utilizing my fiat wealth astatine the constituent of a gun, and that's the extremity of the story, enactment distant your Bitcoins," however does Bitcoin still, successful the integer realm with electricity, repel the unit of a gun?
[1:22:39] Jason: So I deliberation this is simply a bully communal disorder that I request to get amended astatine explaining. I deliberation Bitcoin is simply a surrogate to warfare, not is simply a warfare against immoderate peculiar entity. So erstwhile you bargain Bitcoin, you efficaciously are volunteering to prosecute successful a caller signifier of warfare betwixt different radical who ain Bitcoin, wherever the warfare is fought betwixt miners, conscionable similar Tesla benignant of envisioned. We are choosing to fto miners acceptable the authorities and concatenation of custody of these constricted resources. We are volunteering to monetize this. Like, erstwhile you bargain Bitcoin, you're seeding to the improvement of this Bitcoin military-industrial complex, right? And we fto miners countervail the power authority--
[1:23:34] Tomer: Can I interject with conscionable thing due to the fact that you're explaining it close now? Let's accidental successful the accepted world, I either align myself with the American service oregon with their enemy, and depending connected which 1 of them wins, I basal to summation oregon I basal to lose. So I should state with the winning side. But successful this mining war, I've not aligned myself with the warfare betwixt them, nary substance which 1 of them wins the war, which is also, benignant of this never-ending war, I win. Because 1 oregon the different is going to excavation my block. I don't person to instrumentality sides with immoderate of them. Well, I conscionable deliberation that's specified a chiseled quality from having to instrumentality sides successful a war. On Bitcoin, determination is lone 1 broadside to take, and everybody's connected the winning side.
[1:24:21] Jason: Yeah, I mean, you beryllium backmost and you fto the machines duke it retired and you sip your pome martini and get richer. Like, it's a beauteous large alternate signifier of war. Yeah.
[1:24:32] Tomer: That's a beauteous large alternate to war. Sign maine up for that.
[1:24:37] Mike: Yeah. Every 10 minutes, the conflict is fought. Somebody wins. There's nary bloodshed, and it starts each implicit again. It's beautiful.
[1:24:43] Jason: Yeah, exactly. The conflict is similar the past of the bequest spot is partitioned by the clip that the past service surrenders, right? These wars, similar it's a warfare partitioned blockchain. It's a warfare partition ledger. That's what bequest spot is. But to Mike's point, you person a changeless tempo of warfare, you person a clump of miners going up against each other, to task power, to triumph the probabilistic game, conscionable similar existent warfare is. Someone's gonna triumph it, boom, bam, we determination on. And truthful you conscionable similar constantly, it's similar a continuous, "warfare", but successful an electrical sense, not physically.
[1:25:33] Tomer: Okay, but wherefore can't a feline with a weapon travel successful and termination america all?
[1:25:39] Mike: So Tomer, that's wherever my mentation benignant of touched on. I'm not trying to bargain it from Jason, but I conscionable don't privation to chopped his time. The incentive, the monetary and fiscal incentive, and the clip and vigor outgo inducement of doing that versus conscionable dedicating that clip and vigor into the wealth that that idiosyncratic spent connected hiring the mercenaries oregon the goons to constituent the trigger to acquisition the weapons and each that stuff, they could person conscionable enactment it into Bitcoin and they astir apt would person been amended off, instantly and into the future.
[1:26:19] Jason: And if you instrumentality it astatine scale, the existent crushed militaries benignant of emerged is efficaciously to sphere commercialized routes. If you don't person a navy, you person a pirate problem. Right? Like, if you don't person a Roman legion, you person an issue. And truthful you make a subject to sphere commercialized routes. Once the commercialized routes are preserved, you make a regularisation of instrumentality to enforce each the antithetic monetary and commercialized contracts that are successful place. And past erstwhile you person those 2 things, past you person the wealth to facilitate the trade, marque it faster. And truthful like, astatine a large scale, radical don't combat the aforesaid mode astatine standard for the aforesaid reasons arsenic they bash the brainsick feline connected the subway who mightiness sprout you and effort to instrumentality your overgarment oregon thing similar that. It's a wholly antithetic incentive. The instrumentality connected concern is simply a game, it's a mathematics equation, right?
There's the instrumentality broadside of the equation and there's the carrot broadside of the equation. We could each sing Kumbaya and maximize our backstage spot rights arsenic overmuch arsenic we privation to. But if we don't person a lasting subject and if we're palmy creating abundance, the instrumentality connected investment, similar the Calculus says, for a 3rd enactment to travel successful and conscionable instrumentality your stuff. Right? Bitcoin changes that calculus. For starters, you can't instrumentality their stuff. The monetary spot is hidden down a partition of encryption, it's overmuch much harder to get to it, if not impossible. Imagine if determination is nary monetary worth of the spot itself, however small instrumentality connected concern you would adjacent get by, waging a big-scale war. So I deliberation possibly it's conscionable the incentives that would benignant of dissuade radical from large-scale unit and that benignant of thing. That's each I have.
[1:28:39] Mike: The beauteous portion of the Navy analogy, Jason, and the crushed wherefore I truthful rudely interrupted Robert earlier was arsenic acold arsenic similar maritime past goes if I person it close is that, astatine 1 point, Chinese merchants had developed the maps, right? I deliberation Robert adjacent talked astir this, similar developed maps to really navigate the oceans truthful they tin maximize returns, and benignant of burnt the maps. And truthful would China prohibition Bitcoin retired of their walls, they fundamentally conscionable burned the maps. So what are we trying to broadside with here?
[1:29:15] Jason: That's specified a large example. This is what China does, it's not adjacent new. They've been doing this for 600 oregon much years. Their elite people was fundamentally threatened by the merchant, their merchant navy due to the fact that the merchant navy was getting rich, the merchant navy was starting to marque deals extracurricular of China. They were starting to go highly sovereign, they were starting to go highly popular. And truthful China's elite had to pain the merchant navy to forestall that from getting retired of hand. If they hadn't done that, we would beryllium speaking Chinese successful America probably. They would person astir apt colonized the Americas from the West Coast, and they didn't. Talk astir a strategical blunder. But I inactive don't deliberation that strategical blunder is arsenic atrocious arsenic what we're astir to see, what they did aft 2021. But it's efficaciously the aforesaid crippled similar their merchant people was starting to get beauteous sovereign and starting to get beauteous affluent and starting to endanger their power. So, to sphere their household dynasty, they benignant of person to halt it.
[1:30:32] CK: I posted a photograph a portion back, but it was similar efficaciously a pistol with the tube facing successful the different direction. And that's precisely benignant of China's strategy for Bitcoin. Let's spell to Rob.
[1:30:46] Rob: So I was jotting a mates of notes during this conversation, truly awesome treatment here. Really quickly, conscionable due to the fact that the mining treatment that we were conscionable talking astir similar each 10 minutes is simply a battle. I deliberation it's absorbing due to the fact that you don't person to interest astir the messy parts, similar the extremity of a warfare oregon struggle with surrender, successful presumption of surrender. Because the contingency of being capable to enactment successful aboriginal games is you hold to the erstwhile authorities of the battle, right? And successful a method term, you anchor your block, the caller artifact has to anchor successful the hash of the erstwhile block. So you astir person to instantly concede to determination guardant from a warfare crippled perspective. So it's astir similar a cooperative warfare crippled that everyone's agreeing to play too, and that's the easiest way to support connected playing.
And additionally, connected apical of this similar Breedlove, to what you're talking astir before, similar the lowest friction domain, that's wherever you spell from onshore to sea, to air, into space. I deliberation the bundle is this limb of precise debased friction due to the fact that it's digital, right? It's ephemeral, but what makes Bitcoin truthful unsocial is that it's backed by energy. So since it's backed by energy, you person this stickiness that gets benignant of brought into it. I deliberation from the integer realm and that's what makes it truthful absorbing and to yet propulsion this to similar Tesla, helium was truthful bully astatine physics, the vigor crippled of physics successful the carnal world, but helium was truthful atrocious astatine the monetary game. And Bitcoin is the merger and the intersection of those 2 games and vigor yet being immoral. It's absorbing that you person to opt into a definite acceptable of principles with Bitcoin similar successful bundle code. And that's wherever you get sovereignty from due to the fact that you're capable to instrumentality this immoral happening energy, right? It tin bash bully things, it tin bash atrocious things. It's conscionable the substance successful the tank, right?
But you transcribe it into this similar a codified regularisation of laws and each of a abrupt you get integer spot rights and sovereignty from it. And conscionable 1 past portion present conscionable similar from the atomic vigor perspective, due to the fact that I deliberation that's the large measurement relation successful war, right? Like the atomic weaponry and World War II was this immense measurement functioned up from dropping smaller TNT bombs and having gunpowder. Nuclear was a immense measurement relation upward. I deliberation antiaircraft exertion with Bitcoin. I deliberation the atomic triad is simply a deterrent, right? Saying, "Hey, we person land, sea, air, similar we person each of these antithetic ways of executing mutually assured destruction." But with Bitcoin, you don't person to interest astir the carnal menace of Mutually Assured Destruction. It's similar Mutually Assured Cooperation, right? Like everyone has to beryllium forcibly played together.
And if vigor is 1 portion of this full wargaming Bitcoin story, the spot fabrication is the different side. And I deliberation each of the proviso concatenation issues we've seen is that it's really a nationalist information contented that we don't person spot fabrication connected US shores, that we're reliant connected things similar Taiwan Semiconductor company, and we're reliant connected Samsung and Seoul. I deliberation this is an astonishing accidental for this Bitcoin communicative with the US arsenic a state and subject defence of bringing spot fabrication onshore, American companies that we person overmuch higher assurance and information in. I cognize those were a clump of disparate thoughts and points, but I permission that unfastened to the radical for immoderate of their thoughts.
[1:33:59] Level 39: Real quick, earlier we get to Cory, I conscionable privation to say, to me, determination are losers successful the Bitcoin war, it's erstwhile miners capitulate. They person to crook disconnected their rigs erstwhile they're nary longer profitable. And to me, the acquisition from Tesla is that the adjacent procreation of producing abundant, astir escaped vigor if you're not producing abundant energy, you're losing the war. If you're losing the war, you're not advancing humanity forward, you're not forwarding that quality wide that helium talks about. But the large happening astir this warfare is there's nary breached window. That's each I person connected it.
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[1:36:31] Mike: If you guys don't mind, conscionable selfishly, I wanted to leap successful and inquire a question of Jason earlier I've got to hop. This is fantastic. I'm going to inactive listen, I conscionable can't speech anymore aft this question. Jason, you've been benignant of sharing your enactment arsenic you go, arsenic you benignant of make this thesis for your programme up astatine MIT. And I'm funny astir wherever you are today, mid-December, looking astatine the remainder of the way that you person going forward. What are immoderate of the areas that you request to research much oregon wherever you person benignant of unanswered questions if you recovered them? And benignant of what's besides possibly a portion 2 to that question, what has been astonishing to you truthful far, successful possibly unexpectedly catching your involvement and making you spell similar ace heavy down a rabbit spread that you had not foreseen?
[1:37:21] Jason: I'll reply the 2nd question first. So I'm trying to framework Bitcoin, the nationalist strategical information implications of Bitcoin. It turns retired that MIT is simply a person successful strategy engineering-driven information design. They person an full methodology present called System Theoretic Accident Modeling and Processes. It goes by a mates of different names and it is the dorkiest, nerdiest, astir boring lectures you could perchance ever deliberation of and I perfectly emotion them. They're fascinating however it works due to the fact that it goes into a systemic viewpoint of security. Whereas, traditionally, a batch of radical deliberation of a probabilistic viewpoint of security. So it's ace fascinating.
And past what I recovered adjacent much awesome is it's derived from the airforce, peculiarly from atomic weapons and however to marque them much secure. And truthful it's conscionable fascinating however it each benignant of comes together. The mode that you afloat admit Bitcoin's information implications is from a systemic viewpoint. It merges each these concepts that I support speechmaking from Jeff, and from Robert, and from Michael Saylor, and from everyone else, it conscionable benignant of beautifully niches with everything.
So wherever I'm astatine close present is I deliberation I've decided precisely what my methodology volition be, I volition usage the System Theoretic Accident Modeling to make a model for analyzing the information implications of Bitcoin. I'll do, whitethorn probably, similar a systemic information investigation of the fiat system. It volition not beryllium pretty. I've besides already work the FCIC report, Financial Crisis Inquiry report. And here's thing crazy, it conscionable fell into my thigh - the FCIC study connected the "root causes of the fiscal crisis," successful the report, they say, "This study is designed to mimic a postulation information investigation."
And truthful everything that I'm learning successful people is virtually what's taught to formation information investigators erstwhile they're trying to recognize the basal cause. And truthful present I tin use each these principles of information engineering, information engineering to the fiscal crisis. And I'm fundamentally successful these classes being equipped with a bulletproof statement for destroying everything that they've been saying successful these reports. I'll person to benignant that retired successful a mode that radical volition recognize that won't marque radical aggravated oregon divided, they'll beryllium arsenic logical arsenic possible.
[1:40:24] CK: That's impossible.
[1:40:25] Jason: Yeah, right. That's true. But I'm there. And past the remainder of the worldly that you perceive maine speech astir similar deep-diving into 4 cardinal years of kinetic powerfulness projection and however beingness evolved, that crippled up to the constituent wherever we person it today. That's conscionable going to beryllium similar the intro. That's going to beryllium similar the lit review. I've got a stack of books from each the Bitcoiners recommending maine stuff. So I had to get done that implicit the adjacent mates of months. It's owed successful December of 2022. So I'll conscionable support cranking retired my crappy takes, delight support giving maine feedback and helping maine sharpen the arguments. I can't adjacent explicit however astonishing the enactment I've been getting is. Just this speech alone, Level39 fundamentally did an full lit reappraisal for maine by speechmaking everything from Nikola Tesla. And similar sending maine screenshots of each the astir important stuff. I get that each the time. It's amazing.
[1:41:27 ] Mike: I privation to work the thesis.
[1:41:28] Jason: It is similar 30 pages, and it's each crap. And I person to rewrite each page. Do you privation to cognize the secret, Mike? The thesis doesn't matter. My extremity of starting this thesis, my archetypal thesis I wrote, and it was truthful bully that it can't beryllium shared. It was about, basically, modeling the glinting signifier of satellites truthful that you could plan them not to glint. If you get my drift. So like, nary 1 work it. A mates of different radical work it. But the thesis is conscionable the ostensible crushed for maine to pass these presumption to radical who tin bash thing astir it similar policymakers. The thesis itself is the slightest important part. The astir important portion is each the podcasts, each the support, each the helping different radical spot this benignant of stuff.
[1:42:23] CK: Jason, I'm expecting immoderate worldly for Bitcoin Magazine astatine immoderate point. So don't permission america empty-handed. But, Robert, let's leap to my man.
[1:42:33] Robert: Thank you. I deliberation you're doing fantastic work, Jason. I conscionable wanted to work the ngo connection of MIT existent quick. It says, "The ngo of MIT is to beforehand cognition and amended students successful science, technology, and different areas of assistance that volition champion service the federation and the satellite successful the 21st century." I don't cognize your classmates, Jason. But I conscionable privation to admit you, and explicit my gratitude for taking that ngo seriously. I cognize it comes astatine personal, professional, world hazard but I deliberation this is highly important.
I'm going to spell a small philosophical present for conscionable a minute. But I deliberation it ties backmost to physics for maine is, I deliberation fiat itself, the precise concept, similar erstwhile we accidental that word, fiat, a batch of Bitcoiners thin to spell consecutive to the money, but it's not that, right? It is attempting to override carnal world with an assertion of immoderate kind. It's an effort to play God. It's an effort to say, this is due to the fact that I said truthful versus this is due to the fact that we performed experiments implicit a countless fig of iterations and we determined that we could not disprove it truthful it is. I telephone it a pathology earlier and I deliberation that your conjecture is the champion connection I got for it. And it's a lie, right? It's a prevarication because, if we person to accidental information is an close depiction of reality, well, fiat, is by explanation an inaccurate depiction of reality. It's idiosyncratic attempting to override what is with their assertion that possibly that's what each this is about, similar Bitcoins getting america person to truth, conscionable by virtuousness of being that happening similar the monetization of Bitcoin is equivalent to the devitalization of coercion, right? Of the authorities concern exemplary which attempts to override idiosyncratic self-ownership done ostentation and taxation, and each these things.
So it seems similar the satellite and possibly this answers an earlier question like, Why volition radical spell this direction? Why are we truthful assured that radical volition determination towards Bitcoin? You could possibly generalize it much and accidental that these integer rails we are creating, they're immune to coercion. So radical privation to behaviour themselves successful a mode that's escaped of coercion and they volition inevitably accommodate to this integer property attack to quality affairs. So, again, everyone that prefers wealthiness to poorness benignant of gets forced into this. The caller technologies that we innovate oregon germinate which innovation gyration arsenic we've touched connected today, the animate-inanimate, they're precise intimately related. The ones that bid much vigor projection volition win, right? This is the essence.
I don't cognize if I tin get this successful words wholly but this is the essence of improvement and improvement is everything. Evolution is similar the lone changeless successful the universe. So what is evolution? Evolution is immoderate works, immoderate is projecting powerfulness efficiently and efficaciously is kept, right? Whatever enactment is kept and Bitcoin is the lone wealth successful past that ne'er stops moving oregon the lone spot that ne'er stops working. I anticipation that rounds retired immoderate of the edges, right? I truly admit wherever you're astatine Jason, that you're exploring this from an engineering lens. But clearly, Bitcoin bleeds implicit into the philosophical anchor points we person with reality. And I don't know, it conscionable feels similar possibly we're connected the verge of discovering a caller connection oregon subject oregon thing to that effect to amended articulate what this innovation truly is.
[1:46:24] Level39: Thank you truthful much, Robert. I admit those words. Any question for Jeff Booth? And if we have, I'd similar to spell to Tomer afterward and spot if we tin get a small cosmic earlier we closeout. And I mightiness person different speedy question for Robert Breedlove. We person clip but we'll see. Jeff, I similar to deliberation of Bitcoin arsenic this warfare towards abundance, successful benignant of the ideas that Tesla had. We don't cognize if his ideas would person worked for escaped and abundant energy. But I'd emotion to perceive your thoughts successful the consciousness that truly I felt Bitcoin would person possibly been capable to money those ideas if they were feasible. And I'd emotion to perceive your thoughts astir the ideas of moving towards a satellite of abundance with possibly the vigor aboriginal that Tesla envisioned.
[1:47:12] Jeff: Sure, and conscionable to talk to Robert and this is 1 of the cardinal things I deliberation we've got to beryllium cautious successful ensuring. Put it this way, I wholly hold that Bitcoin is going to support going anyway. It doesn't matter. But I similar to person much radical recognize it, and articulation and locomotion crossed the span and physique it and physique this. So I deliberation astir the connection that helps them and doesn't empower the authorities due to the fact that of their fear. And truthful erstwhile you're talking astir specifically and I archer you wherever this goes, but erstwhile you're telling, and specifically, but wherefore did the strategy look similar that, and done competition, wherefore did it look similar that?
When you deliberation astir conscionable it from a golden standard. Gold couldn't beryllium utilized each 10 minutes. You had to centralize that. You had to physique a strategy connected apical of it. And that strategy due to the fact that of that centralization interest to beryllium capable to determination wealth faster, did determination the satellite faster, but it was ripe for manipulation. And truthful you ever enactment the quality into it. Essentially, the quality says, "We're gonna spell done a deflationary slump due to the fact that radical took excessively overmuch leverage successful debt, and everything's going to stop." And, and my prime is, I indispensable manipulate wealth further to bash that, and that has a antithetic consequence.
But if you look passim the past of immoderate money, it ever ends similar this successful these resets. And those resets, I deliberation they utilized to hap implicit 500 years. Now that happened over, telephone it 80 years and astir apt faster and faster, and it's really faster due to the fact that of exertion itself due to the fact that of what you're saying, that the exertion is moving astatine a gait and it ever has been moving astatine a gait that's been faster and faster and faster, and each of that output is fundamentally america choosing the champion experiments. The champion experiments triumph by giving america much value, is deflationary. Why currencies didn't neglect for 500 years a agelong clip ago, is due to the fact that it was slower. Why currencies volition neglect faster and faster connected a fiat modular today, is due to the fact that it's happening astatine a faster rate.
And so, if you transportation that forward, each vigor volition beryllium priced successful Bitcoin. The vigor was priced successful US dollars and that means vigor prices won't support going up, they'll spell down. Energy is the fig 1 input of each different happening we bash and each prices volition spell down. They'll support going down due to the fact that the marginal outgo of exertion moves to zero. When determination is nary economical payment successful that, due to the fact that of that, and wherever you determination with artificial intelligence, astir of that moves to zero. What volition hap is arsenic we utilized to bargain a full clump of calculators, determination are nary manufacturers for calculators anymore. That's moved to zero due to the fact that it's technology, arsenic galore of the different things person connected your telephone arsenic well. That's going to hap everyplace if you person a basal furniture of wealth tied to the vigor that allows that to happen.
It is existent abundance, it's a full strategy change. And wherever volition entrepreneurs go? They'll onslaught the industries that person the highest cost. And there'll beryllium tons of opportunities for entrepreneurs to physique much worth for society. But each of it volition trim the outgo further and further and further arsenic the entrepreneurs triumph a stock of that successful Bitcoin. But the byproduct of their enactment benefits humanity successful general. It is simply a way to abundance. And unfortunately, the existing strategy we unrecorded successful can't supply that. So the existing strategy we unrecorded successful indispensable neglect successful benignant of a mates of antithetic ways done ending the quality race, if you benignant of property a button, it indispensable neglect done that, oregon determination is simply a imaginable different mode that it tin support going. It tin ore each powerfulness and power successful a precise tiny fig of hands who person domain implicit everybody other and tin alteration your minds. That's not a satellite that I subscribe that I would privation to unrecorded in, and so, it's wherefore I'm specified a immense promoter of Bitcoin due to the fact that it's truly an advocate, due to the fact that it's for the quality race, it is for everybody. It really makes definite that our enactment moves broadly to humanity.
[1:52:21] CK: Level, bash you privation to get Tomer involved?
[1:52:23] Level39: Yeah. Tomer, I deliberation you've mentioned you person thing cosmic you wanted to stock with the radical erstwhile you got started. But I don't retrieve if you got a accidental to speech astir it.
[1:52:32] Tomer: No, I haven't. In your nonfiction and you asked maine to deliberation a small spot astir this. In your article, you had mentioned that based connected however Bitcoin uses vigor and however it tracks however overmuch it's utilized successful full and when. That if the quality contention was gone and an alien archaeologist recovered a node, they'd beryllium capable to cognize however acold we marque it arsenic a civilization successful presumption of our advancement towards this Kardashev scale. And I deliberation that's a chill take. But I wanted to elaborate due to the fact that this was the archetypal interaction and this peculiar lawsuit would beryllium aft we've someway died off, immoderate alien past stumbles connected here, but I conscionable benignant of privation to crook astir to, well, what if Bitcoin is really archetypal interaction with an alien civilization? They nonstop it up due to the fact that they privation to get not connected immoderate satellite with these brainsick lunatics who are threatening to nuke each other. But wherever they unrecorded successful bid and they've created tremendous abundance and vigor and they're absorbing to speech to, it's a overmuch nicer spot to visit.
Takes a batch to get determination physically, but you tin nonstop up the accusation to thatch and power radical however to physique thing similar Bitcoin, which is efficaciously similar nuking the satellite with bid from outer space. That's conscionable different mode to see what Bitcoin is. It's this worldwide, it's this weaponry that is 1 changeable of it has blown up the full satellite that conscionable took 1 changeable and the detonation is continuing to dispersed each implicit the world. But it's an detonation of bid alternatively than warfare and it saves lives alternatively than ends them, and it creates wealthiness alternatively than destroys it. I deliberation that's what to maine is truthful beauteous astir this technology, whether it was sent by aliens oregon discovered by 1 feline each by himself oregon thing other similar that. That is what it is. And it's retired of our control.
As Jason said, it's not a negotiation, bid is connected its way. I deliberation it's conscionable an bonzer cosmic lawsuit that we're experiencing. I deliberation that's possibly a small spot of what Robert Breedlove was talking astir to observe thing you volition recognize truthful overmuch much astir ourselves erstwhile it's each said and done. But whoever gave america Bitcoin, convey you.
[1:54:58] CK: Alien Technology.
[1:54:58] Level39: That was a beauteous take. Thank you, Tomer, I admit that. And if anyone hasn't work Tomer's astonishing nonfiction connected what makes radical deliberation Bitcoin is alien technology, I butchered the title, but you speculated connected this before. I deliberation everyone benignant of had that thought successful the backmost of their minds and you enactment it truly truthful eloquently.
I had a question for Robert Breedlove existent quick, and past we tin crook it implicit to CK. We tin crook it implicit to anyone other who has immoderate questions. My question for Robert is - it feels similar ever since Tesla passed away, we've been stuck successful this benignant of and we've had Einsteinian physics. But your conversations with Eric Weinstein person got a batch of radical reasoning what the fuck has happened to physics since 1971? And I'm funny if you consciousness similar fiat is liable possibly for the nonaccomplishment of magic successful physics, and I deliberation a batch of radical who are listening who were fans of Tesla imagination of a benignant of a satellite wherever determination is escaped and abundant vigor coming from the cosmos. I'm funny if you consciousness similar possibly fiat has prevented that from happening to immoderate degree.
[1:56:10] Robert: Yeah, that's a large question. I really invited Eric to articulation america contiguous but helium ne'er responded. Some of you guys person possibly seen that movie Contact, wherever the alien crafts onshore each implicit Earth. I deliberation determination are 10 oregon 11 of them. They don't truly bash a lot. There's a pistillate main quality and she--
[1:56:32] CK: Oh, Robert, that's the Arrival.
[1:56:33] Robert: Oh, Arrival, you're right. The Arrival, sorry, incorrect title. This alien taxon comes to Earth and effectively, they're teaching america a caller language, right? They're teaching america this connection of complexity oregon thing to that effect. And she makes notation to linguistic relativity, which I deliberation is besides called the Whorf-Sapir hypothesis, wherever the precise connection that we utilized to deliberation in, which is to spot the psycho technological instrumentation we marque usage of really determines oregon astatine slightest influences the shapes and contours of the thoughts we are susceptible of producing.
Money, we've called it a connection of value. Literacy intelligibly is axenic psycho technology. Money is determination similar benignant of a hybrid. And if you guys haven't listened to my bid of John Vervaeke astir this, I cognize Tomer was a immense fan. I deliberation John Vervaeke is 1 of the astir brilliant. He's a adjacent of Jordan Peterson, we talked astir this astatine length. He coined the word psycho technology. And we were truly hashing retired the details of what the fuck is money? I get, benignant of both. It has this literacy-like quality, wherever we deliberation successful presumption of money, we execute economical calculation and planning, negotiation, etcetera, but it's besides a exertion and that it has to beryllium rooted into the existent satellite that has immoderate rooting into the thermodynamics of enactment and sacrifice and each of these aspects of the economical reality, of scarcity, frankly, ultimately.
And so, erstwhile we corrupt that instrumentation, we present sound to the channel, that's possibly different mode to deliberation astir it. What are we doing really? We're interrupting our quality arsenic conscious actors successful the satellite to reconcile ourselves to what is happening, right? There's nonaccomplishment of signal, there's the instauration of noise, which inhibits our quality to respond, which is the essence of work itself, right? This is thing that, again, benignant of gets backmost to backstage spot rights due to the fact that erstwhile you person a backstage spot right, you person this precocious integrity narration betwixt an proprietor and an asset. Then there's a batch of throughputs. There's a batch of accusation density successful that signal. But erstwhile you commencement to interruption the backstage spot right, the person's some their rights successful the plus to bask immoderate it is, the services that the plus renders, and the work to instrumentality attraction of it, they're some ameliorated due to the fact that you've breached down the informational narration betwixt proprietor and asset.
And so, Vervaeke expands that much generally, helium calls it, cause and arena relationships. And helium has this beauteous YouTube lecture bid called Awakening from the Meaning Crisis. It's like, I don't know, 50 hours, it's a lot. It's conscionable amazing, though. I highly promote everyone to cheque it out. He's going done the reasons, like, what causes this breakdown of agent-arena relationships. I deliberation successful our bid together, 1 facet that we truly pulled isolated was this thought of violating spot rights oregon corrupting money, which is efficaciously the aforesaid thing. How would that really lend to this loosening of the grip, right? Economic actors suffer their grip connected socioeconomic reality. When you can't spot the money, you can't spot the awesome of the wealth oregon the prices of the property.
To ellipse backmost to physics and academia oregon acquisition institutions, it's like, okay, if you corrupt this astir cardinal membrane oregon mediating unit oregon it's similar the Ether, right? I cognize Ether is simply a soiled connection successful this abstraction but not Ethereum the fucking shitcoin. The ethereal, the firmament, right? That's similar what wealth is mapping onto, it says mean for propagating accusation and energy. And erstwhile you corrupt that and it becomes divergent from what is, I deliberation it's conscionable upstream from everything, right? So each the downstream effects are catastrophic. What bash we accidental successful Bitcoin? Fix the money, hole the world.
I'll permission it astatine that. I mean, it's a existent fucking rabbit hole. I talked to Vervaeke for 12 hours astir it. He got 50 hours astir Awakening from the Meaning Crisis, I deliberation it's truly useful. But this thought of a relationship, we cognize relationships are precise important successful our idiosyncratic life. That's wherever we get the astir meaning from life. But erstwhile you interruption that narration oregon corrupt it with a lie, you disintegrate the relations betwixt elements and a system. You make pathology. That's what crab is, right? Cancer is uncontrolled cellular growth, it's not dying. It's not there's the autophagy stops, the compartment conscionable similar a zombie company. I'll halt due to the fact that I could truly spell agelong connected this. Because it besides gets into modern zombie mythology, which exploded post-1971. There's thing really, deeply, painfully unspeakable astir corrupting wealth and/or spot that percolates passim the full sphere of humanity.
[2:02:19] CK: That was precise powerful. And again, I afloat agree, and I consciousness similar monetary maximalists, which a batch of Bitcoiners benignant of find themselves successful that perspective, would hold excessively that determination is thing precise insidious astir benignant of corrupting the precise cloth of however we pass worth crossed time-space, amongst each other, peer-to-peer, etcetera. I couldn't hold more. I privation to unfastened it up to immoderate of the newer folks that we fto connected stage. Frankie, I cognize you've been raising your manus precise patiently. I'll let you to leap in, instrumentality the mic with a remark oregon a question.
[2:02:57] Frankie: Awesome. Thanks. I admit that, CK. So, riffing a small spot disconnected of Tomer. So if bid is connected the way, I consciousness similar we decidedly person immoderate challenges successful between. But today, I decided to deliberation truly profoundly astir exponential growth. So my question is astir the narration betwixt hyperbitcoinization and exponential technology. So, Jeff, successful your book, The Price of Tomorrow, you say, "The lone mode to support our economies increasing and combat the effect of exponential exertion nether our existing strategy is to let indebtedness to emergence exponentially arsenic well."
Well, I consciousness similar that's already happening, right? But you spell connected to say, "That unless planetary jobs and our economies grow astatine a complaint that exceeds indebtedness creation, that the property of ostentation is already over," which I'm reasonably funny connected that remark arsenic well. But that's not precisely the question. If the lone mode to support our economies increasing during a deflationary situation is by allowing indebtedness to emergence exponentially arsenic well, what is the inflection constituent wherever we statesman to spot decay, right? It conscionable seems to maine that if exertion continues its signifier of acceleration, successful what script is the inflection point? And erstwhile does this statesman to level retired again?
[2:04:17] Jeff: So I emotion the question due to the fact that that's really what are each the Bitcoiners connected this telephone already see, the decay is already each astir us. The signposts each astir are what is predictable from a strategy that indispensable spell against the truth, and it indispensable continue. So if you looked astatine the ecosystem of that and you said, conscionable successful China, truthful what China has to bash is instrumentality distant the escaped marketplace and seizure the wealth that is being enactment into the exertion companies and instrumentality much powerfulness from the individuals and enactment it successful the state. You thought it was atrocious before, it's going to get worse and worse, truthful does the US, truthful does everyplace successful the world.
A mode of looking astatine this is, arsenic a full clump of the colonisation loses retired and that colonisation is surviving connected the thoroughfare and breaking into places successful San Francisco due to the fact that of the aforesaid thing, what volition radical ballot for? They'll ballot for bigger constabulary forces to support them. They'll springiness distant their idiosyncratic rights and freedoms to the authorities to beryllium capable to instrumentality that away.
And so, what you're seeing each astir the satellite is simply a predictable way from a strategy that's trying to support itself against a greater unit of exertion moving the different way. And first, you bash it by creating much and much indebtedness that tin beryllium paid back. And past erstwhile you can't bash that, you alteration the rules of law, spot rights, everything else, to instrumentality much distant and you crook nine against each other. And it's each connected a way to much and much power successful cardinal powers, centralization, which colonisation volition ballot for. Bitcoin is precisely the different broadside of that. And truthful my anticipation is that much and much radical spot this and I consciousness affirmative astir that. But that's really wherefore if you look astatine this call, I deliberation we person 1,300 radical connected this call.
All of those radical oregon galore of those radical are dedicating their escaped clip and energy, their vigor to making this happen. And arsenic a byproduct of that energy, each azygous experiment, each azygous call, Bitcoin is this emergent technology, emergent force, which is really us, our minds changing to beryllium capable to physique a span to the different side. And that's what gives maine a full clump of anticipation successful that. Because if you instrumentality it to what Robert said before, everything successful our life, everything was an thought first. This is conscionable a amended idea. If capable radical judge successful this idea, we'll determination to a truly large future.
[2:07:25] Frankie: So, bash you deliberation that hyperbitcoinization is the inflection point?
[2:07:31] Jeff: Yes, probably, but the rails of Bitcoin aren't acceptable for that contiguous successful the US.
[2:07:41] Frankie: Right. Yeah, that tells maine that there's a batch of challenges successful betwixt because, successful my mind, if hyperbitcoinization is the inflection point, this is the clip erstwhile each humans enactment towards utilizing the afloat unit of the exertion that is already astatine our reach. According to Elon Musk's meme that helium posted a fewer days agone astir however successful 1969, 4 kilobytes of RAM landed a antheral connected the moon. Whereas, present we person 8 gigabytes of RAM and Chrome crashes. So, I wonderment if hyperbitcoinization is that inflection constituent wherever we dilatory down and we utilize the exertion that has been created.
[2:08:21] CK: Yes. Yes, it is.
[2:08:24] Jeff: Yes, it is.
[2:08:25] Frankie: Okay. Awesome.
[2:08:27] CK: I mean, look, S9s inactive work, your iPhone 10 does not. That is the difference. Publord, rise your hand. All right, you're raising your hand, leap in.
[2:08:40] Publord: Always privation to leap successful but, yeah, spaces similar this, man, I looked astatine the panel, I looked astatine the guests successful the chat, man. It's a beauteous room. A batch of fantastic thought leaders here. Tomer, I conscionable got to cognize precocious and, hey, I virtually conscionable enactment a meme unneurotic due to the fact that of him. And it's thing that helium reminds maine of, thing and Jeff Booth. Lovely Jeff, of course. Bitcoin is not lone peace, but a bid that tin outperform immoderate benignant of choler successful the world. Bitcoin is that small portion of grass, that small portion of quality that ever grows done concrete. You guys ever walked astir the city, spell done a metropolis and there's a histrion increasing retired of somewhere, immoderate factual opening, there's thing growing. That's Bitcoin. No substance what the governments volition do, the banks volition do, Bitcoin volition find a way. Bitcoin finds a mode due to the fact that it's integrated and it's true, and it's nature. I conscionable came connected signifier to archer Tomer, I made you a meme, man. That's for you, Tomer.
[2:10:00] Tomer: Thank you, man. I admit that. What you're saying is quality finds a way, right? And nary substance what, quality finds a mode and Bitcoin is similar a unit of nature. I deliberation erstwhile Jason talked earlier astir China, gave it its worst, past determination was a 50% wipeout, 60% wipeout. Then Bitcoin absorbed this thing, like, I visualize it. It's benignant of like, Bitcoin's got a unit tract and this onslaught comes out, and past it benignant of softly squishes it in, and past it bounces backmost out. It's wholly neutralized conscionable a fewer months later. Every clip we spot this benignant of ability, it doesn't adjacent combat back, Bitcoin, right? It conscionable stands determination and it's similar if idiosyncratic flicked a atom of soil astatine you and you're not going to spell and fuss to adjacent combat back. Bitcoin doesn't person the quality to combat back. It conscionable has the quality to sorb each onslaught against it and successful the worst case, dilatory down to 13-minute blocks for a mates of weeks time. I thought that was the worst of the onslaught and past conscionable wholly retrieve and bounce backmost to the information it was successful and past proceed to turn and grow, and grow. It's incredible.
[2:11:17] Jeff: Tomer, it's the humans that get affectional implicit that, it's not Bitcoin. It conscionable keeps moving.
[2:11:24] Tomer: Exactly. It's like, if I was walking and idiosyncratic threw a azygous atom astatine me, I wouldn't announcement even, right? That's benignant of similar Bitcoin. Maybe it felt similar a small breeze successful its face. But it's going successful the absorption that it's going. This full happening that China did was a mates of steps uphill alternatively than conscionable the portion of the street, coasting crossed the thoroughfare sideways.
[2:11:49] CK: So we person astir 15 much minutes here. We got Sovereign Stoic connected stage, I conjecture I'll springiness it to you if you privation to leap in. I conjecture Mark Moss, you conscionable jumped on. I'm seeing you present too. So the microphone is unfastened to either of you.
[2:12:04] Mark Moss: Hey, guys. Yeah, Jason, I conscionable emotion the thought that bequest warfare destroys resources. But hash complaint wars tin really make vigor abundance and little the outgo of vigor per kilowatt-hour for civilization. It's conscionable fantastic to deliberation astir bringing connected the hash complaint wars, right? But I besides wondered what you thought astir arsenic we are successful the integer property and the sovereign idiosyncratic thesis marches guardant if Bitcoin mining is mutually assured preservation for nation-states, however does that transcend to the monocellular level of individuals who are moving ASICs successful their homes, successful their crawlspaces, successful their garages? Is that idiosyncratic preservation for location Bitcoin miners? Or are we going to beryllium obsolete successful an property of nation-states competing for hash rate?
[2:12:58] Jason: Wow, that's a truly bully question. I conjecture what I'd accidental is earlier erstwhile Robert was talking astir we person inalienable rights and governments benignant of person a inclination to-- the situation with protecting your rights is that you request an service to bash it, right? You request massive-scale practice to bash it. Because if you don't, past you're going to get Genghis Khan, right? If you don't person your ain military, you're going to go portion of the British Empire oregon the Roman Empire oregon the Mongolian Empire. And truthful you don't truly get an accidental to support your property. Your spot is lone arsenic bully arsenic whoever its subject allows you to person it, right? Whoever regularisation of instrumentality allows you to person it.
With Bitcoin, adjacent if the mining scales to the constituent wherever possibly the idiosyncratic miner can't vie with similar nation-states, the quality is it doesn't assistance them immoderate much quality to power your entree to. It doesn't impede your spot rights oregon it doesn't person the aforesaid hazard of impeding your spot rights arsenic it happens with the accepted military.
Then the different quality is this - successful kinetic powerfulness projection, well, it's gotten truthful costly that it can't beryllium used. The lone mode to overthrow a nuclear-armed authorities is to marque our ain nukes, it's conscionable unrealistic. But successful a Bitcoin world, adjacent if sovereign nation-states are the superior mining pools, it is ever getting easier and easier and easier for radical to mine. Like it's getting cheaper successful Bitcoin terms. The lone mode that a sovereign nation-state tin support immoderate competitory posture is if they perpetually re-upgrade their systems if they're perpetually trying to bring morganatic value, perpetually being efficient, perpetually capable to crook a profit. It's similar your civilians, their pitchforks are perpetually getting much deadly astatine each times. That's a large mode to support your nation-state successful cheque if it needs to travel to that. I don't cognize however it'll look, but conscionable support that successful mind. I deliberation it volition beryllium better.
[2:15:45] Jeff: Jason, I deliberation it's conscionable important successful the competition, that contention is bringing down vigor costs more. And that contention is bringing down each costs more, which means everybody wins by that competition. I deliberation that's the cardinal constituent successful that that you're saying.
[2:16:05] Jason: Yeah, you spot it, right? In the kinetic powerfulness projection game, the effect is monolithic exquisite subject technology, right? If we pivot to an electrical powerfulness projection game, the effect volition beryllium badass microchips successful everybody's hands for free, with vigor for escaped and abundance for free.
[2:16:34] Jeff: Bingo.
[136:36] Jason: What is brainsick is it's the aforesaid game, nothing's changed. The lone quality is - bash you take to monetize a integer spot with this power operation implicit it oregon bash you take to monetize an analog spot with the kinetic impervious of enactment power operation implicit it?
[2:16:56] CK: Well, I deliberation what's absorbing is what happens erstwhile we determination implicit to the digital? And past what did that bash to our quality to interact with the physical? I consciousness similar there's precise overmuch a back-to-nature constituent of Bitcoins incentives, arsenic good arsenic an unlocking of imaginable resources and the quality to harness it.
[2:17:15] Jason: Yeah, we get into a zero marginal outgo nine wherever the outgo of vigor is free. It's nothing. The outgo of scaling vigor is fundamentally nothing. That's a chill satellite to deliberation about.
[2:17:29] CK: Man, large panel. Great radical of people, by the way. Jason, emotion proceeding your instrumentality connected this. You were conscionable benignant of talking astir it close present the benignant of the question I privation to ask. But backmost to benignant of the Bitcoin projecting powerfulness narrative, which I've heard you speech astir already tonight. Obviously, with the magnitude of vigor being used, I guess, I benignant of get the projecting powerfulness narrative. Obviously, passim history, each clip that equilibrium of powerfulness shifts, the mega authorities of the satellite shifts arsenic well.
But you benignant of mentioned having nukes oregon erstwhile nations got nuked up, you benignant of had this mutually assured destruction, which brought peace. So, projecting powerfulness with nukes past brings bid due to the fact that of mutually assured destruction. I could spot the projection of that powerfulness with weapons, the kinetic warfare, arsenic you say, right? Hey, I don't person to usage the weapons but you cognize I person them truthful I'm projecting that power.
But Bitcoin doesn't task immoderate force, it evidently uses vigor to support itself. But astir possibly similar successful a subject fabrication movie wherever you person a unit tract astir a metropolis oregon astir a ship. It uses vigor arsenic a unit field, but that unit tract doesn't task force, right? It's lone meant for defense. So, I conjecture I'm conscionable benignant of reasoning astir it successful that terms. It seems similar Bitcoin, being much of a antiaircraft exertion wherever it's censorship-resistant, immutable, etcetera, but I don't spot however it projects unit connected anybody. I mean, it shifts the equilibrium of power, shifts the inducement structure.
My conversations already brought up earlier that it would astir apt beryllium excessively costly to adjacent fuss engaging successful war, truthful you'd alternatively bash thing else. But I don't know, it seems similar much antiaircraft stuff. How bash you origin successful that, I guess, that projection of unit successful that?
[2:19:18] Jason: When I was deployed to Al Udeid, we had a bomber onshore with a slug spread from a 762 round, truthful changeable from an AK, a slug spread successful the intake of the engine, which we patched with the putty that dentists usage to measurement your teeth, right? We patched it up, we sent that bomber retired the adjacent day. Those bombers, interestingly, the astir communal cognition that they bash is not dropping bombs, their astir communal cognition is what we would telephone unit projection oregon amusement of force.
The mode it works is, say, you person a convoy successful Afghanistan and the Americans successful the convoy are taking sniper fire, immoderate benignant of shots, they tin place the shots are coming from the mountain, but they can't find wherever they're coming from. What you bash is you instrumentality your bomber, you enactment it connected its terrain-following computer, and past you alert it ace low, similar 300 feet disconnected the ground. I've been underneath these bombers arsenic they bash these flybys that adjacent and that fast. It is freaking terrifying erstwhile it happens, right?
And truthful what we bash is we illustrate, we task unit oregon we task power. We ne'er really touched anybody. In this operation, nary 1 gets hurt. But we punctual the radical connected the upland that it's excessively costly to proceed doing what you're doing. You're risking a lot. That's a amusement of unit and we bash this a batch successful the military. It's astir apt the astir communal operation, that's wherefore we sail ships astir each the time. It's a changeless amusement of force, we're perpetually spending tons to archer radical it's excessively costly to effort to beryllium uncooperative with the radical who ain this military.
[2:21:12] CK: But that's due to the fact that the amusement of unit is threatening force. Hey, we could weaponry you but we're not going to. That goes backmost to the atomic weapon. We don't usage a atomic limb but you cognize that we person it. We could amusement force, whereas similar I said, Bitcoin is much similar a unit field. I mean, a unit tract is not going to spell onslaught you but it's evidently not worthy your clip to spell onslaught it with a unit tract either.
[2:21:37] Jason: So if you punch a wall, what happens?
[2:21:42] CK: Put a spread successful it oregon interruption your hand, I guess?
[2:21:44] Jason: Yeah, interruption your hands, right? If you punch a ceramic wall, it hurts similar hell, right? A partition is simply a unit projection apparatus. A defense-only happening similar a partition volition hurt, volition harm the idiosyncratic who tries to punch it. And so, Bitcoin volition wounded the radical who effort to onslaught the ledger, it volition wounded their pocketbooks. Bitcoin works precisely due to the fact that it threatens their attacker, right? It's similar a direct-- [crosstalk]
[2:22:21] Guest 3: Can I leap in?
[2:22:24] Jason: To discarded their energy, money, clip effort, power, and mining an invalid block, they tin bash that but the unit tract that is Bitcoin's algorithm for accepting different artifact into the blockchain is conscionable going to crook each of that energy, crook it each into a implicit discarded and it costs them something. I mean, this is wherever Bitcoin is successful fact, it's specified a beardown unit tract that it shows you that it really has a outgo of attacking it. It's not escaped to onslaught but you person to motorboat a limb and everything truthful you've got astatine slightest the outgo of the weapon, which you mightiness arsenic good bash thing amended with if the limb is going to beryllium wholly ineffective.
[123:02] CK: Yeah, if you guys person seen the past movie of the Harry Potter series, there's a portion wherever each the wizards are coming unneurotic and projecting a unit tract out, right? The mode I'm reasoning astir this is that the miners are the wizards supporting the unit tract that's going outwards. That's benignant of however I was conceptualizing the quality betwixt Bitcoin web aggression look and past the existent Bitcoin web defence mechanism.
[2:23:26] Publord: Listen then. Here's the superb thing. To date, Bitcoin doesn't care. We're connected signifier here, each of us. We look beautiful. We got immoderate large avatars. Yeah, Bitcoin doesn't attraction astir thing we say. It's doing its thing, man. Like I conscionable did for Tomer there, man, I'd enactment the works that comes retired of concrete. The authorities could enactment each the factual they privation implicit Bitcoin, Bitcoin volition find a way, conscionable similar everything else, man.
[2:24:00] CK: All right. Well, I deliberation that's a bully spot to wrapper it up. It's been a bully two-and-a-half-hour riff. This signaling should beryllium disposable instantly connected your Twitter app. As agelong arsenic you're connected mobile, you should beryllium capable to perceive to the recording. It'll besides beryllium disposable connected Bitcoin spaces live, hopefully earlier the extremity of the week. So, support an oculus retired for each of that bully stuff. Yeah, looking guardant to the adjacent astonishing conversation. Really admit everyone who stayed connected the full time, particularly my man, Level39, who enactment unneurotic the nonfiction that inspired this, arsenic good arsenic organized the space. Thank you truthful much, Level39.
[2:24:39] Level39: Thanks truthful much, CK. Appreciate it.
[2:24:40] Publord: Yeah, conscionable wanted to decorativeness disconnected existent speedy due to the fact that everyone I spot up here, man, due to the fact that we've talked offline successful definite ways. I enactment 1 up connected this signifier close here. Let maine archer you something. They could beryllium going retired and charging thousands of dollars, man, for their input. Everyone you spot connected signifier close present and adjacent you and the assemblage could bash the aforesaid thing. Let maine archer you something. These are the radical that marque Bitcoin work. These are the radical that are pushing it forward. I emotion you all, man. I emotion you all.
[2:25:17] Level39: Thanks, Pubby.
[2:25:18] Publord: Yeah, I emotion you guys.
[2:25:20] CK: All it takes to speech astir Bitcoin and marque it work. But yes, you tin speech astir Bitcoin with each your favourite Bitcoiners successful idiosyncratic astatine Bitcoin 2022. So, spell to that, promo codification Satoshi, walk successful Bitcoin, prevention an other 100 bucks. See you each there. Peace.
[End]
English (US) 