Just Say It

Every passage, on the record.

1. 01:20Claim

   You think that this is going to take over the world, and surely it must be wrong, because you know yourself, you're not that smart. And if you're not that smart, other people who have big brains, they've probably thought this thing through, and they've decided that it's not good for some reason, without ever really piecing it together, that it might not be good for those individuals because the structures around their own survival are built on them not seeing it.

2. 01:58Analogy

   It's easy to forget what it's actually doing, and what Bitcoin actually is, is that you don't have to go big brain, you don't have to figure out any of this stuff. Nobody knows how the refrigerator works in their house. Nobody knows, nobody cares. You shouldn't have to care.

3. 02:31Reference

   Because you are part of the extended order. You listening right now, you get to benefit from all of the other smart people in the world, because you can exchange whatever thing you do with what they do, or what they have done in the past.

4. 03:07Claim

   Or does it do better than any alternative? If the answer is yes to that, well, then chances are that adoption might pick up. Is it hard to do? Are there any restrictions in place that will keep some people out of the system? No, no, those are minimal. That's going to increase the chances of adoption kicking off.

5. 03:37Claim

   If you're the state and you get to design the education system to bring up people within your jurisdiction, why would you design something that made them think that you are not all-powerful? Who would be able to keep themselves from the power that is indoctrinating everyone with the idea that you can't do anything about the state?

6. 04:10Claim

   Surely the state's going to stop it. Oh, wait a sec. They can't stop it either. That means it can't be killed. Well, that's going to increase adoption as well. You don't even have to know any of that. It just has to be better than the alternative.

7. 04:10Analogy

   Couple that with the fact that it's absolute scarcity, not making any more of it, not like they're making not making any more of gold. They're not making any more gold, but our ability to extract gold from places that we couldn't get it before is improving. Guess what happens? Supply comes on. Doesn't happen in Bitcoin.

8. 04:46Quote

   None of this shit actually matters. What matters is saying, fuck you. And that's what Bitcoin does, right?

9. 04:46Idea

   None of this shit actually matters, right? What matters is saying, fuck you. And that's what Bitcoin does, right? People, why would you say, fuck you in the first place? Well, you normally, you'd use it when people are trying to hold you down, right?

10. 05:17Analogy

    You can imagine the hierarchy of wizards wearing fancy cloaks and crowns, plain dress up. This is why you have to do all of those things. The flowing robes, the fancy hats. It's like you have to separate yourself from the plebs, from the unwashed masses.

11. 06:23Claim

    Why has abstract power had the ability to so easily pool and come together in specific places and build up to such a large level? That's the lack of information. Information not freely flowing about what the true state of the world is. That is why these things are able to build up in the first place. And it's all horseshit, cooked up at a time that people thought spirits spent eternity in castle hallways and leeches were good for your health.

12. 06:54Analogy

    If you're a rando, no-coiner, you couldn't, and you still can't, if you operate outside of the Bitcoin system, say fuck you with any fervor at all. You could say it, but you didn't really mean it, because money talks. A good fuck you might get you bashed over the head. They take your cattle or your wine or your house or your gold, because they can, if confiscation is easy.

13. 07:36Idea

    But now you can simply opt out and decide not to play the game. You can just quietly pull your reserves. And as you pull your reserves, not only are you removing that energy from the system, but you're removing the ability to dilute that energy from the system.

14. 08:10Quote

    The parasites are no longer able to live off of the energy that you leave while not consuming your excess.

15. 09:29Analogy

    Free cows, you know, those would be hard pressed to exist because we've made them so docile and so different from some random crazy ass buffalo. I don't want it to know that there's another possibility for itself. I want it miserable. I want it depressed. I want it slavish. I don't want them to look to me to save them from their self-inflicted pain, and I want you dependent.

16. 11:05Analogy

    If you were a manager of a sports team and you wanted to come up with the most efficient kick-ass team whose job in the game of life was to transform energy from inaccessible to accessible, these are not the people that you would be signing up first. These aren't your starters. These aren't your LeBron James's here of energy efficiency.

17. 11:37Quote

    Bitcoin allows you to bet on the winners while removing exposure to the whims of the abstract power wielders.

18. 12:16Idea

    The information that you are generating by converting fiat dollars into Bitcoin is saying, I have energy that is excess to my current requirements. I want to allow others to use that energy, but I want it back when I say so. I don't want to give the power to anybody else to mess with the energy when it is not in my possession.

19. 12:48Claim

    I agree to the rules of the Bitcoin game, understanding, yes, okay, there's only going to be 21 million units. Transactions have to be valid. Rules must be followed in order to participate. I'm going to allocate to Bitcoin and not some other energy storage device.

20. 13:19Claim

    Real estate, stocks, bonds, whatever it might be, because I think Bitcoin is reliable and I think it'll be there when I want to make that claim to recall my energy. That confidence comes from a little bit of education around counterparty risk and risk in general.

21. 13:59Reference

    Will the extended order continue along the path that it began some millions of years ago? Will information generation continue to become more efficient? Will the extended order be better off tomorrow than today?

22. 14:32Prediction · condensed

    If that continues to be true, Bitcoin wins. The only way that Bitcoin doesn't win is if that isn't true. And all signs point to that being true: humans and the extended order's ability to control energy and transform it into denser packets, which then allow us to become even more efficient.

23. 15:39Claim

    You don't need the masses to all of a sudden become self-aware to how terrible their position is. The mouth breathers will welcome the alternative. They will welcome the CBDCs with open arms.

24. 16:10Analogy

    The introduction of CBDCs, it unlocks physical control delivered in a digital package. One can control many. And if Apple can ship software updates to a billion people for a nickel, think what the Federal Reserve can do overnight.

25. 16:10Reference

    If Apple can ship software updates to a billion people for a nickel, think what the Federal Reserve can do overnight.

26. 16:43Prediction

    The things that make you a bag of goo with zero ambition, those will stay cheap. The things that make you an independent, strong human being, those are going to get more expensive.

27. 16:43Analogy

    With the introduction of a technology like Bitcoin, in the past we have likened it to the introduction of the printing press and the power of the church. You imagine guys in robes telling you what you have to do while doing the complete opposite themselves.

28. 17:59Claim · condensed

    The inability to control information flows meant the signal was able to be separated from the noise. And now the church is a shell of its former self. No one is scared of the church. Information killed that.

29. 18:29Claim

    If they didn't want to put up with the riffraff, they had to rule with an iron fist to keep the truth hidden and to always be fighting back the truth. And this is where the state is headed.

30. 18:29Prediction

    Information just unlocked to a never before seen level, where there was a trickle of information outside of their control over the last 14 years has turned into a fire hose. In another 10, it'll be a tsunami.

31. 19:03Reference

    Probably said best by Michael Saylor back in one of his original podcast appearances, with a guy who was as smart as they come. And on the show, he was trying to model out the perfect buy and sell opportunities, and in drops Michael with the undeniable fact of absolute scarcity and the impact it's going to have on the world.

32. 19:42Prediction

    What happens when 10 billionaires realize what is happening, who have the largest incentive to get up to speed as quick as possible on the dilution of their energy reserves? They come into the market looking for exposure to find nothing, because the billionaire before them cleared out the remaining reserves.

33. 20:51Claim

    Eventually, it gets to the point where you don't want the returns to exchange them for goods or services. The novelty wears off, and really then it becomes about, well, you want those returns because you don't want them to have them.

34. 21:24Claim

    You are the people that are backing this Bitcoin system. You're not just doing it for yourself. You're doing it for all those individuals who didn't have the power to do it before.

35. 21:56Quote

    The other system is dogshit. It's the New York Yankees against the bad news bears. And the Yankees are on all the juice their bodies can possibly contain.

36. 23:03Quote

    Fuck you. You can't have my energy. I don't care if you try. But it doesn't bother me because you can't have it. And I know you can't have it.

37. 23:34Analogy

    You've built a house of cards, and from the outside, it appears like, well, you got to knock down all the cards, but realistically, only one of those things has to fall. Only one of those things has to collapse under its own weight and you're in a pretty good spot.

38. 24:09Claim

    I know that there are some Bitcoiners that are status, which is really a testament to how flexible people can be with their mental gymnastics, how deep rooted these ideas are through years of education. To imagine someone that thinks that they understand the value of Bitcoin, who's also a status, is the wildest.

39. 24:40Claim

    A state is necessary for X, Y, or Z, and I don't mind paying taxes as long as it goes to where I think it should go to. And well, maybe 50% is high, but what about something like 25% or 15%? Like, I don't mind 15% of getting robbed, getting stolen.

40. 25:10Quote

    What about fuck you? What about you can't have any of it? What about zero?

41. 25:10Reference

    I'm going to brave heart this thing. And you don't think, well, you're not going to really brave heart it. How about fuck you? Try. Let's try.

42. 25:42Claim

    The goal of the state is more state, more state equals you worse off. So on the flip side, that means the less state, the better off. So let's adopt tools that don't allow people to dilute your energy reserves without your permission.

43. 26:14Prediction

    My prediction, I'm going to go out on the limb here and say that Bitcoin isn't going to die. And I think information has been set free and there's no putting the genie back in the bottle.

44. 27:29Claim

    What we all know that they're doing is they're saying, let's clamp the pressure here so that it builds up somewhere else. The more they squeeze, the more pressure builds up on the other side of the equation, and benefits grow for those who remove themselves from their reaches as they become more desperate.

45. 27:59Analogy

    Would you feel more comfortable at a poker table if you were holding pocket aces and you knew your competition had nothing, complete donuts, zero? Would you go pretty hard or would you take it easy? Well, we know that they don't have anything. They can't hide that.

46. 28:40Analogy

    The thing does a green candle like you've never seen before. And this poor person, life hosed because they missed it. How amazing to be given a chance to see if you would actually go all in on a good thing. This is the test. Do you trust your own instincts.

47. 29:11Claim

    My guess is in a matter of a cycle or two, you are the person who should be holding the most Bitcoin because you are the person who has been the best steward of energy inside of the extended order, and that you won't take that responsibility lightly, which you shouldn't if you want to hold on to your Bitcoin.

48. 29:52Claim

    99% of people who catch the wave before nation state panics and adoption takes place, you're probably better off going the sub-audio route and just stacking sats and saying, hodl. That's the reality of it.

49. 29:52Claim

    There are really smart people out there who are going to do really great things. And then there's the vast majority of us, who's really the only way you can fuck this up is if you don't say fuck you. That's really all you can do to not benefit once you're this far down the rabbit hole.