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The "What is Money?" Show

Bitcoin Hits All-Time High: A Once in a Species Breakthrough w/ Jesse Myers (WiM586)

The "What is Money?" Show

Robert Breedlove

Bitcoin, Breedlove, What Is Money, Investing, Rabbit Hole, Cryptocurrency, Money, Finance, Education, Robert Breedlove, History

4.8710 Ratings

🗓️ 23 May 2025

⏱️ 128 minutes

🧾️ Download transcript

Summary

Jesse Meyers joins me to explore the origins of money as a once-in-a-species breakthrough in human coordination, how scarcity forms the basis of moral structure, and why money serves as the keystone of civilization. We discuss the evolution of money across history, the development of tools and natural language, how Bitcoin has perfected scarcity, why Bitcoin is a self-fulfilling prophecy, and the bright orange future ahead. Jesse Myers is the co-founder and COO of Onramp, a Bitcoin financial services company, built on Multi-Institution Custody.

Transcript

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0:00.0

I might have stumbled into a possible potentially groundbreaking new hypothesis for why humanity out-competed other early humans,

0:09.0

why civilization developed, and it all comes back to scarcity which Bitcoin has now perfected.

0:15.0

You're almost making the case of money as a keystone to civilization itself, right? Perhaps even more so the natural language.

0:22.6

You can't really live in an existence beyond 150 people if you're pre-money.

0:27.6

But then if you have the concept of money, that ceiling is removed.

0:30.6

The theory was that Homo sapiens out-competed Neanderthals

0:33.6

because they adopted monotheism first.

0:36.6

Money is really the enabler that then makes it

0:39.8

possible for larger social groups to live together. And then in that context, having shared gods

0:45.8

starts to help with the cohesiveness. And that global optimum became gold, basically. Yes.

0:52.1

Now it's possible to have a scarcer good that's suitable as money.

0:58.0

Have we perfected scarcity in Bitcoin?

1:00.0

If we shift from an inflationary flywheel of everything getting worse.

1:04.0

Prices go up, quality go down.

1:06.0

Yep, and that's because we have an inflationary monetary standard.

1:09.0

And if you have a deflationary monetary standard, your money buys more over time.

1:12.6

And then those people see their lives getting better over time.

1:16.0

This is what we've been searching for once in a species, and it loosely goes through the development

1:39.6

of the human brain, economic scarcity, money, and the birth of Bitcoin.

1:47.9

I guess before we kind of start dissecting this thing, section by section, do you want to

1:52.8

give like just a high level description of what this piece is, why you wrote it, et cetera?

1:57.9

Yeah.

...

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