What does that world look like where the central bank no longer is a viable business model, which is crazy to say, right? It's literally the printing money business. Like, who thought that could ever go out of business? One of two havings from now. I do think we will get to a point where it might be unprofitable to mine Bitcoin. Now, there's been a lot of people that have theorized the mining death spiral. Yeah, yeah, yeah, I remember this. That's not how markets work.

And I think if you think about like the dollar as a religion or whatever, it's like the primacy of the U.S. government and its ability to be like the global police state. It just says in God we trust. And in reality, it should say in Fed we trust because that's who you're really trusting. And just bring in AI or whatever. I think the government shrinks by like two thirds, three-fourths in like a decade. Oh, so what about that? How does AI shrink the government? You only work if you choose to work. That creates a bunch of weird social contract problems. I know. I feel like UBI is in there too somewhere. Totally. So many things just become free okay because there's the

marginal cost to produce it is effectively zero okay were you at coinbase when

bologi was there just after gotcha very cool what was that like welcome awesome to be here Welcome.

Awesome to be here, man.

Really excited to chat.

Yeah.

I appreciate you having the long pre-powwow with me.

A lot of things to think through about this conversation.

But I think a natural place to begin is just trying to put some

useful, intelligent words around this spectrum that's often talked about in Bitcoin

slash crypto world, which is centralization versus decentralization.

I really consider that word decentralization specifically to be like the operative word

in understanding Bitcoin and understanding Bitcoin versus shitcoin.

And again, I use the word shitcoin as in all non-Bitcoin monies, really,

monies, assets, tokens, whatever it may be are shitcoins.

US dollars are shit coins, right? I was going to say silver.

It doesn't even need to be a crypto asset per se.

It's basically anything that's trying to be money or is used as money that is not Bitcoin.

I will give the exception to gold right gold is

like analog Bitcoin or Bitcoin is digital gold whichever way you want to look at it

that we get sort of this winner take all network effect in money so you end up with one

...