Michael Saylor joins me to discuss anthropology, energy, and technology from first principles as we build the intellectual foundation necessary to truly grasp the historic significance of Bitcoin.
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00:00:00 “What is Money?” Intro
00:01:23 The Seven Layers of Proof-of-Work Security
00:04:56 The Beauty of Proof-of-Work
00:05:27 The First Layer: Energy
00:09:58 Bitcoin Mining Impact on Global Energy Producers
00:14:22 A Future Convergence of Bitcoin Miners and Banks?
00:17:44 Bitcoin Recruits Energy Capital for Self-Defense
00:19:27 The Second Layer: Technology
00:20:40 Bitcoin Recruits Semiconductor Capital for Self-Defense
00:22:20 Rotating from Energy to Technology Intensive Security
00:27:45 Patterns of New Bitcoin Miner Deployment
00:28:50 Miner Hardware Cycles and Bitcoin Hash Rate
00:31:30 Game Theory of Entering the Bitcoin Mining Network
00:33:58 The Third Layer: Political
00:35:12 The Political Game Theory of Bitcoin Mining
00:37:08 Bitcoin Mining as a Political Lobbying Network
00:39:12 “100 Megawatts is Worth $300M per Year”
00:40:10 A Self-Distributing, Dynamic Mining Network
00:43:02 “The Market Generally Outsmarts the Smartest Person”
00:43:57 An Energetic, Technological, and Political Shock-Absorber
00:47:57 Robert’s Outro
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