#021 - Michael Dunworth - Bitcoin vs. Capitalism: A Radical Solution to the System's Failure
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 15 November 2024
⏱️ 102 minutes
🧾️ Download transcript
Summary
Michael Dunworth is an Australian entrepreneur was one of the co-founders of Wyre, a Bitcoin payments and infrastructure provider established in 2013.
In this episode we discuss the societal challenges of our times: mental health, the economic burden of modern life, and the revolutionary role of Bitcoin. From Australia's housing crisis to the psychology of dopamine-driven tech addiction, this conversation explores the realities of capitalism, critical thinking, and purpose. Learn how millennials and Gen Z are navigating a broken system and why Bitcoin is the antidote to financial lies.
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Transcript
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| 0:00.0 | So in Sydney, we're in Sydney, Australia. It's got basically the worst housing market in the world or whatever. |
| 0:04.8 | Most expensive. So let's imagine you're in this environment. How does your kid end up when you've got to go to work and now maybe your parent with kids and one income? |
| 0:15.3 | Now it's getting more expensive. So I'm going to have to go to work. Okay, cool. So we both go to work. Now, what happens to my kid? Well, my kids are gone, no one, mum's not taking care of. Okay, we'll just put him in daycare. |
| 0:23.3 | How much is day care? It's the same amount you're earning daily, like it's $200 a day, but you earn |
| 0:28.0 | $250 after tax. So it's basically just paying the bills. So what's happened is you're trying to earn more money. you put the kid in daycare, and now the kid doesn't have parents, the parents don't see each other, and no one's home. |
| 0:38.2 | It's too dear. |
| 0:40.0 | People can't buy fucking lunch sometimes. |
| 0:41.3 | I check if my car gets declined because I'm so shit with fiat all the time, |
| 0:42.7 | and most of the time it does. |
| 0:43.6 | But it's like, that is a thing. |
| 0:44.8 | Everything is $26 for avocado on toast. |
| 0:47.4 | The best part is, going to try and tell you that Bitcoin has no answer in this conversation. Of course they are. If you're 15 or older, you have like 15 to 35 or 40 or whatever, you must. |
| 1:00.3 | You don't have a choice because it is the financial system. |
| 1:02.8 | You are going into that. |
| 1:04.0 | It's like being 15 and ignoring the internet. |
| 1:10.0 | Now Mr. Obnoxious is brought to you by our least sponsor, The Massive Legends Iron, |
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| 1:19.4 | Now, they're not just powering the Bitcoin network. |
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| 1:30.0 | been working with their founders, Dan and Will, for quite some time now, and we've always been |
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| 1:39.4 | computing power. So if you're interested in mining Bitcoin or harnessing AI compute power, Irond is set |
... |
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