4.6 • 1.9K Ratings
🗓️ 12 January 2025
⏱️ 24 minutes
🧾️ Download transcript
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In this "Lessons" episode, Samson Mow, CEO of Pixelmatic and JAN3, breaks down the true essence of Bitcoin, critiques altcoins like Ethereum, and explains why decentralization is the cornerstone of sound money. Explore the pitfalls of centralized cryptocurrencies, the concept of hyper-Bitcoinization, and the risks of smart contracts and DeFi.
Bitcoin as Decentralized Money: Samson emphasizes that Bitcoin is decentralized, immutable, and permissionless—qualities that make it a true form of sound money. He describes Bitcoin as a store of value, a medium of exchange, and a unit of account, distinguishing it from centralized altcoins masquerading as decentralized.
Hyper-Bitcoinization Defined: Samson introduces the concept of hyper-Bitcoinization, a future where Bitcoin becomes the global standard for money, eliminating the need to convert back to fiat currencies. He likens this transition to the obsolescence of older forms of money like seashells.
Challenges of Smart Contracts and DeFi: Highlighting the vulnerabilities in DeFi and smart contracts, Samson points out frequent hacks and backdoors built into many projects. He warns that these constructs are often insecure, centralized, and driven by speculative Silicon Valley investments rather than genuine utility.
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0:00.0 | Thank you, NetSuite for supporting today's episode. Now, what does the future hold for business? |
0:04.7 | If you ask nine experts, you're going to get 10 answers. Bull market, bear market, inflation up, |
0:10.0 | inflation down. Honestly, I just need a crystal ball. But until we get one, over 41,000 businesses |
0:16.7 | have found the next best thing. They future-proofed their operations with NetSuite by Oracle, |
0:22.1 | which is the number one cloud ERP. Imagine having your accounting, your financial management, |
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0:38.0 | control to make quick, confident decisions while others are guessing you're working with real-time |
0:43.2 | data, insights, forecasting. You're basically looking into the future of your business with |
0:48.5 | actionable data. Whether your company is earning millions or even hundreds of millions, |
0:53.6 | NetSuite helps you respond to immediate challenges and helps you grab your biggest opportunities. |
0:58.4 | And speaking of opportunities, they put together the CFO's Guide to AI and Machine Learning |
1:03.1 | at netseweek.com slash Scott Clary. |
1:05.8 | This is the playbook for understanding how to use AI for your business. |
1:09.9 | The guide is free. Go to net suite.com |
1:12.7 | slash Scott Clary. That is net suite.com slash Scott Clary. A big thank you to indeed for |
1:19.0 | supporting success story because hiring people is one of the hardest things you're ever going to do |
1:24.5 | as an entrepreneur, as a founder, as somebody's trying to build a business. |
1:28.0 | Because it's important to hire well. It's important to hire and find the right person. But it takes |
1:33.5 | so much time. It's so labor intensive. Because like most entrepreneurs, you have a thousand things |
1:38.8 | going on and there's a good chance that you just realized your business needed to hire someone |
1:43.6 | yesterday. |
... |
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