Hi everybody, this is Sven Maulan, you back again for comment objections to Bitcoin, which I respect. I understand it's absolutely essential that we get this stuff squared away. I'm going to start off with a whole bunch of practical good cases, some economic analysis. And finally, the moral wall of one to punch to hopefully get your mind on straight comes to this incredible technology. So we just did a practice, just a presentation, the new truth about Bitcoin, an update from a presentation I did about 10 years ago. And now, of course, the objections have been

rolling in. I think it's wonderful to have these objections opposition means that you're doing something, particularly in the world of virtue. So let's dive straight in and deal with this. Okay, major objection to Bitcoin is no tangible. You can't touch it. It's bits and burps numbers in a computer somewhere, squitting around the ether and it's not a tangible thing. You can't take it with you. You can't put it under your bed at least not very easily. So that will be wrestling with it relies on electricity and the internet.

Boy, if I had a 10th of a Bitcoin for every time somebody said me, yes, but if the whole electrical grid goes down your Bitcoin is useless, we'll deal with that one as well. Oh, it's too volatile. Boy, given my show's history, the last thing I'd ever wanted to be complaining about is something of someone else to volatile, but we'll deal with that as well. It's not dual use, not to do a wheel. It's not do a use a gold. You can use for electronics. You can use it for store of value and currency. You can use it for jewelry and so on.

Bitcoin is dedicated to being a store of value and an easy transfer in that value. So it's not to lose. We will of course be doing a comparison with gold as well.

It's environmentally destructive. Boy, you know, it used to be that spikes in your energy bill, which is because you were doing some sort of illegal grow up now. It's probably because you got Bitcoin mining going on. So we will look at whether it is or is not environmentally destructive.

Bitcoin just for criminals and terrorists because Lord knows, feed currency has never been used for anything moral in the entire history of the world. So is it for criminals and terrorists and what's the ratio and governments, if it should succeed, you know, in the modern world, like success is failure in the moral moral area.

So states won't let it compete. They won't let it compete with feet. They won't let it compete with central bank digital currencies and so on. So they're just going to squash it like a bug. We'll talk about that as well.

So let's talk about intangibility. So I cannot trust something I cannot see and touch. All right. Okay, here's something really, really important. There's going to be a central theme of what I talk about here.

One way that people manipulate you is when you're faced with a choice that is complex and there's no particular solution. There are only tradeoffs in the economic sense.

When someone is trying to get you to do something, they will show you the pluses of one choice against the minuses of another choice and think that they've given you some kind of favor or some kind of objective information they haven't they're just trying to shut down or bypass your free will and your judgment by saying, well, here's the pluses of one thing and compare it only with the minuses of the other, which is how you know you're being scammed. Like honestly, this is how you know you're being scammed.

I'm going to do my very best, of course, to be honest about the pluses of minuses of various systems. So a sort of typical example is somebody says, well, you could buy real estate. You could buy a house or you can invest in the stock market.

But if you buy a house, you have some place to live and a stock market, you still have to rent a place to live. So that's bad. It's like, okay, well, but that's just comparing the pluses of real estate with the minuses of the stock market pluses of real estate.

You have a place to live. Minuses you don't you could of course compare the pluses of stocks with the minuses of real estate. Well, you know, you get to say your down payment goes into something that's going to go up in value.

It's much more fungible. You can divide it up. It's much easier to sell and transfer and therefore stocks are way better than real estate. So I'm not going to do that. I'm not going to compare the strengths Bitcoin with the weaknesses of everything else, but acknowledge the various strengths and weaknesses to give you more objective view.

So I just wanted to point that out. So yeah, I cannot trust something I cannot see and touch lots of things are abstract and vague and ephemeral, you know, love, meaning virtue, passion, attachment, all of these things.

They're not particularly touchy, but they make up the meaning of life. So things that you can't see and touch I get from a sort of raw empirical sense we need shelter, we need food, we need heat and so on.

But the idea that you're never going to trust anything you can't see and touch. I mean, you do business based upon reputation. Can you see or touch reputation? Nope. The virtue of your lover, you can't see or touch that, but it has great meaning for you.

So I really want to disconnect this idea that if we can't see or touch it, it can't possibly be trust. A trust is reliable is when you sort of trust is when you accept that somebody has fairly consistent behaviors.

And therefore, since the best predictor future behavior is relevant past behavior, how they are in the future is going to be likely how they were in the past.

So there is a certain amount of trust that is built up through consistent virtue over time. So we'll talk about that as we go forward.

And of course, here's the thing too. Gold requires either paper notes or some sort of electronic marker. So you don't just carry around bars of gold when you need to do transactions, right?

You store it somewhere and then there's markers for that gold. So you're not actually seeing or moving the gold itself usually. This is where paper currency came from with markers for gold.

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