Lightning Models

Every passage, on the record.

1. 00:00Reference

   Adopted as the unit of account for the global economy, for the extended order, how this adoption is going to take place.

2. 00:41Claim · condensed

   If I have done the work to determine that Bitcoin adoption is going to happen, that's inside information, and the question becomes how I act on it to put myself in the best position to benefit when it does.

3. 01:19Claim · condensed

   If Bitcoin becomes the global reserve asset, other things have to fall in place behind it, and identifying those things and theorizing how they happen is the whole point of doing this.

4. 02:33Claim · condensed

   Once you've separated from the fiat system you can look back and ask where else this tool helps, because you no longer have to worry about the big giant problem, which is making sure you can access the energy you've transformed from inaccessible to accessible.

5. 03:08Idea

   How can I make sure I have access to that? Bitcoin solves it.

6. 03:42Claim · condensed

   The system that exists now is the most efficient system at transforming energy from inaccessible to accessible that has existed so far, or it wouldn't be in place, it exists because it out-competed every other iteration of a possible system.

7. 03:42Claim · condensed

   We have never known the true value or true cost of attention because we've never had a reliably filtered signal from noise in the attention market, there is no reliable market for attention with the technology we've had access to.

8. 04:20Idea

   That's what we're going to look at today, is this prediction of how the attention marketplace is going to shift and what that means for platforms, content creators, end users, businesses and advertisers.

9. 04:54Idea

   It's focused energy and energy is what we talk about all of the time.

10. 05:27Prediction

    It won't be long before every normie knows a unit of account adopter who's in a better position than they are simply because they leveraged this new tool in their everyday lives.

11. 05:58Prediction

    As Bitcoin adoption continues to grow, people who adopt Bitcoin as their unit of account are going to out-compete others, and that will spread faster and faster, you will not be able to escape that that is reality.

12. 06:32Prediction

    If the game theory plays out and if all of the things that you've accounted for line up, Bitcoin is going to skyrocket in value.

13. 07:02Quote

    Bitcoin is the foundation of everything.

14. 07:33Quote

    It is the constant. That is the whole point. That is the value of Bitcoin is that it is constant.

15. 09:52Claim · condensed

    If you are like most people, you sell your energy in the form of attention every day, and you sell it without knowing the price, without being able to change the price, and without ever seeing the returns.

16. 10:25Quote

    You are the seller but you don't see the returns.

17. 10:57Claim · condensed

    What we have now was the most efficient system when it was built, not the most efficient system available today, the only thing that changed is that Bitcoin matured and a layered, decentralized, permissionless network for exchanging value was created.

18. 11:31Claim · condensed

    There are four major players in the attention marketplace: platforms, users, creators, and the advertisers or businesses behind those ventures, all connected by a flow of energy that runs from the end user through the creator and the platform to the advertiser.

19. 12:41Quote

    Bitcoin eliminates the middlemen and that is going to flip the entire model of traditional advertising on its head.

20. 13:58Claim · condensed

    The friction that's still there in the fiat legacy system means attention can't be settled in microtransactions, it has to build up to a large enough amount before it can be sent to the platform or the creator.

21. 16:24Claim · condensed

    You can't tailor ad tolerance to the individual, you have to apply a single threshold to the general masses, and that's exactly where the inefficiencies start to build up.

22. 17:26Claim · condensed

    Platforms with more data on user behavior and preferences can charge advertisers higher prices because targeted ads are more likely to convert, and that's also better for the end user because they get ads tailored to what they actually want.

23. 17:57Analogy

    If you're watching nothing but dog videos and then you're getting fish food advertisements that doesn't make a whole lot of sense, there's wasted energy there because that is not going to convert.

24. 21:05Claim · condensed

    It would be ideal if the user, who is intimately familiar with the value of their own attention, could determine their own ad exposure instead of being forced into a mass generalization.

25. 22:50Idea

    To get energy you need to expose those willing to channel their energy in your direction to energy parasites.

26. 27:54Claim · condensed

    What if the advertiser could pay the consumer market rate for their own individually determined energy market value, that's the breakthrough that hasn't been possible in the fiat system because of the rails underneath it.

27. 27:54Quote

    What if the advertiser could pay the consumer market rate for their own individually determined energy market value. This is the breakthrough.

28. 29:39Claim · condensed

    Platforms would pay users directly to consume ads, users deposit a sats minimum to begin consuming content, and the sats flow to content creators based on directed attention, which should sound familiar because it's very much like the streaming sats and value for value model already in podcasting 2.0.

29. 29:39Reference

    It should sound familiar because it's very much like the streaming sats and the value for value model that is currently in place in podcasting 2.0 on apps like Fountain.

30. 32:26Claim · condensed

    Once the friction of transporting value from one person to another is removed, energy can flow instantly and in either direction between advertiser and consumer, you don't need a dollar's worth to pool up before it's worth sending.

31. 33:08Claim · condensed

    If you interact more with the ads you're shown, that means you probably value those goods and services more, which means you're more likely to exchange the energy you've already transformed and stored, and that lets the company behind that ad leverage its specialization further.

32. 34:52Quote

    It is an energy transforming machine.

33. 35:27Claim · condensed

    Once you're lightning enabled, all you need is an address to have sats sent directly to you after you consume an ad, you don't have to wait for a dollar's worth of energy to pool up before it's worth sending over the legacy financial rails.

34. 36:35Claim · condensed

    The world doesn't have to jump straight to value for value, advertisers can run almost the same model that's in place now, where the platform streams sats to consumers based on their ad exposure preferences, and the split just gets redirected to include the end user alongside the content creator.

35. 37:45Claim · condensed

    Any new system has to out-compete the legacy system in the energy game, and in the personalized threshold model everyone wins because users pay the exact price they're willing to pay instead of a price forced on the whole mass of users.

36. 38:18Reference

    You've heard Michael Saylor about his opting in to something like a YouTube premium because his time, his energy is more valuable than the ten dollars.

37. 39:21Open question · condensed

    We don't know that number, only Michael does, there's no way yet to tailor it individually and find out exactly how much energy someone is willing to send through to avoid ad consumption.

38. 40:24Quote · condensed

    It is the bearer asset.

39. 40:24Claim · condensed

    This wouldn't be possible without Bitcoin, because the Bitcoin transaction itself is the asset, it is the bearer asset, so sats can flow to you the instant you take the action, at the individual level, without a middleman.

40. 41:07Prediction

    Over the next 12 months, over the next 24 months, this is where you're going to see things going in terms of how lightning is leveraged, how having Bitcoin streaming in both directions is going to allow for much more precise market information.