2.10.22 Entry

Every passage, on the record.

1. 00:00Analogy

   thinking back to the original purpose of this, of recording any of this stuff is to make sure that I have a track record, a proof of work of whether or not I was thinking out of my ass and the writing was on the wall the whole time and I just couldn't see it.

2. 00:00Analogy

   it feels like the momentum has picked up and it's picking up quicker and quicker and quicker. And the snowball effect really is in, I guess you could say now it's full steam.

3. 02:06Reference

   You got Michael Saylor saying don't steal other people's Bitcoin right this has to do with the Bitfinex hack.

4. 02:06Event

   the two people that are responsible for the hack and as they are being portrayed on Twitter right there's sort of some lady that is a what is the rap some pseudo rap name that she's got.

5. 02:41Claim

   once you understand the hard cap of 21 million and how quickly these things are changing and evolving, we start to see some crazy stuff to the upside.

6. 03:13Claim

   Why wouldn't you paint the enemy as the dumbest person you could possibly find... I would think okay, the masses are a bunch of dipshits we can easily just let's say that it was these people. Let's blame them. That'll be the mainstream narrative.

7. 03:13Event

   this supposedly this mastermind hacker that was able to secure what is it now $3.5 billion worth of Bitcoin and then keep it on a Dropbox folder. I keep the private keys on the Dropbox folder.

8. 03:48Claim

   if you're the US government, you now are able to hold what is it close to 100,000 Bitcoin without having to pay for it. I mean, you did pay for it, but it allows you to take possession of it a little bit easier.

9. 04:21Claim · condensed

   It's a lot better to seize it and say, Oh, you know, we're probably we'll just hold on to this for a little bit... than it does if the Federal Reserve coming out and saying that they are purchasing the Bitcoin.

10. 04:54Analogy

    this is right there is where if it was a movie, you would cut to improper key management somewhere in the future and devastation across lives. That would be the perfect cut point in the movie me saying that.

11. 04:54Quote

    I can only imagine doing so with with billions and billions and billions of dollars. It's pretty fucking crazy.

12. 05:27Claim

    this is immediately debunked by thousands and thousands of people and not just the educators in the space, not the people who are at the pinnacle of understanding what Bitcoin is... just random plebs on the Internet. No, that it's very, very simple to custody your keys in a way which makes it incredibly difficult.

13. 06:00Claim

    That is the beauty of Bitcoin is just how it removes the difficulty of defense. That is the superpower of Bitcoin that basically makes it impossible for an attacker with a very simple setup, makes it near impossible or definitely not worth the amount of energy that would have to be input to get access to your private keys.

14. 06:39Quote

    Bitcoin makes it so that stealing is significantly more difficult. Actually stealing the wealth is significantly more difficult than going out and generating that wealth. And that is the beautiful game that is being played.

15. 06:39Event

    this is the money printing in France. The factory that prints the money right now in France, Bank of France factory in Chamaulier... 24 people have been injured.

16. 07:10Analogy

    The place that is printing the money that the French government is using to prop up the system that Bitcoin is acting as an escape valve from is actually on fire. And that's how hot they are running these things.

17. 07:42Claim

    there is so much panic in the legacy system... if you saw negative real rates, and you saw the writing on the wall as people flock to get out of their positions and into anything that is not easily created has some unforgeable costliness.

18. 08:24Reference

    we got Jeff Booth moving from coercion to cooperation on a global scale, a new selling point, hard to understand if your power comes through coercion, but impossible to ignore.

19. 08:24Claim

    Bitcoin allows or Bitcoin illuminates the power of cooperation in a way that the fiat system simply doesn't.

20. 08:54Idea

    Once you understand the 21 million hard cap, what that represents, TASOE, the total accessible supply of energy inside of the system, and how every holder of TASOE benefits from more energy coming into that system, more energy being unlocked from the physical world and plugged into the digital world.

21. 09:34Claim

    it's better if everyone is alive, if everyone is happy, if everyone is doing well, if everyone is at their peak of energy transformation abilities, everybody wins. There is no losers in that scenario. It's just a matter of how much you're winning versus other individuals.

22. 10:05Idea

    Those differences will continue to exist, but the gap will close. The gap between the lowest and the highest will close. Because there is no way to, you can't steal other people's energy through power. The only way that you can acquire other people's energy reserves is through cooperation, is through exchange.

23. 10:43Claim

    If number one, we come up with a system that doesn't bleed, that's more beneficial than not. Number two, the more individuals plugging into the system, the better off it's going to be. The faster we are going to be able to accrue energy reserves.

24. 11:18Event

    we got Jordan Peterson, who is now tweeting about Bitcoin, right? He is pro Bitcoin after his conversation a few months ago with a couple of well-known Bitcoiners and then Safedeen.

25. 11:18Reference · condensed

    his conversation a few months ago with a couple of well-known Bitcoiners and then Saifedean (Ammous)

26. 11:49Claim

    Bitcoin is protection against imperialist oppression. Yes, that is the permissionless, decentralized nature. Without those things, if you require permission, it is not protection from imperialist oppression. If it is not decentralized, it's not protection against imperialist oppression.

27. 11:49Analogy

    It's a clock in another dimension that will continue to run and it has no recognition of the outside world. All it knows is Bitcoin, how to verify whether or not a Bitcoin is real or not or true or not, and whether that has the ability to send.

28. 12:20Analogy

    the most powerful thing you can do with a really fancy clock that is incredibly accurate, that can't be tainted, and that is universal, is you can attach a ledger to that clock. That is what we have done with Bitcoin.

29. 12:20Claim

    As long as it remains permissionless, anyone can access the network and send value over space and time. It's going to act as a protection from imperialist oppression.

30. 12:51Reference

    As soon as that, like Christine Lagarde has said many times, as soon as you open that escape hatch, some individuals get wind that there is a form of storing your energy reserves that cannot be confiscated against your will.

31. 12:51Claim

    As soon as you recognize these things, well of course capital is going to flow in that direction. Energy reserves are going to flow in that direction because people understand at a very basic primal level how important the storage of energy reserves are.

32. 13:27Claim

    This is a competition for scarce resources and those around us, we can either coerce the competition into doing what we want or we can cooperate.

33. 13:59Event

    The last one is the anti-vax Canadian truckers. They are wanting to talk about Bitcoin because of all the things that have been happening there. They go fund me, they got shut down. Now people are paying or sending money, sending donations, sending energy reserves to these individuals using Bitcoin.

34. 13:59Quote

    the danger of a large nation state cracking down on Bitcoin in a big way like the US is that if you go after the king, you can't miss.

35. 14:40Prediction

    there's going to be a split between those that get on board and ride the wave like your El Salvador's and those that resist. Resistance is futile. Eventually you will capitulate.

36. 14:40Reference

    there's going to be a split between those that get on board and ride the wave like your El Salvador's and those that resist.

37. 15:14Event

    We're seeing that with Russia talking about making Bitcoin legal tender and it only gets crazier from here.

38. 15:47Claim

    if you are not able to stop the spread or slow the spread of the coin... it only makes it look worse and it only makes the use case stronger and stronger and stronger for a money that is outside of the system.

39. 16:18Claim

    Without counterparty risk, it becomes extremely attractive to be able to send value around the world to whoever you want, whenever you want, and to do so in a way that is basically unstoppable.

40. 16:18Prediction

    It just takes another state. There's going to be a couple of small nation states that will pop up in the next couple months, no doubt about it.

41. 16:53Prediction

    we start to see, okay, who is going to be the first political figure to be embraced by the incentives of the Bitcoin network? And at the moment, it looks like Russia.

42. 16:53Prediction

    2022 is going to be a big year. There's so much, so much on the sidelines right now, so much that is just on the bench ready to come on.

43. 16:53Quote

    it's just another opportunity to stack as many sats as you can before it reaches previous all time highs, which is right around the 69,000 mark. So lots of cheap sats that are still out there.

44. 17:28Analogy

    It's only going to take a few more snowflakes to fall before the ball really gets rolling with extreme speed.

45. 17:28Quote

    It's only going to take a few more snowflakes to fall before the ball really gets rolling with extreme speed.