Michael Saylor: The Thermodynamics of Bitcoin EXPLAINED (2021) (#393)

Into the Impossible With Brian Keating

Brian Keating

Science, Physics, Natural Sciences

4.7 • 1.1K Ratings

🗓️ 9 February 2024

⏱️ 105 minutes

🔗️ Recording | iTunes | RSS

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Summary

Please join my mailing list here 👉 https://briankeating.com/list to win a meteorite 💥 Remastered from our interview in 2021. There is a lot of talk about how to make money with Bitcoin… But how does it actually work? What are the physics behind it? And can Bitcoin replace the US dollar? Here today to answer all of these questions and more is Michael Saylor. Michael J. Saylor is an American entrepreneur and business executive who co-founded and led MicroStrategy, which provides business intelligence, mobile software, and cloud-based services. Saylor authored the 2012 book The Mobile Wave: How Mobile Intelligence Will Change Everything. He is also the sole trustee of Saylor Academy, a provider of free online education. As of 2016, Saylor has been granted 31 patents and has 9 additional applications under review. MicroStrategy added $175 million of Bitcoin to its holdings in September 2020 and another $50 million in early December 2020. On December 11, 2020, MicroStrategy announced that it had sold $650 million in convertible senior notes, taking on debt to increase its Bitcoin holdings to over $1 billion worth. On December 21, 2020, MicroStrategy announced their total holdings, including 70,470 bitcoins purchased for $1.125 billion at an average price of $15,964 per bitcoin. Saylor, who controls 70% of MicroStrategy's shares, dismissed concerns by observers that the move is turning MicroStrategy into a Bitcoin investment firm or exchange-traded fund (ETF). Key Takeaways: 00:00:00 Introduction 00:01:39 Judging a book by its cover 00:04:59 What's the next (6th?) technology wave? 00:08:52 The next megatrend: Virtualization 00:17:01 Why are there ridges on coins? 00:19:20 Where does gold come from, and can virtual currencies replace real ones? 00:32:41 Why is blockchain so great now? 00:37.53 Risk management in science and all things. 00:57:16 The physics of Bitcoin 01:33:35 What is your ethical will? 01:38:54 What would you put on your billion-year monument? 01:40:59 What mystified you as a 20-year-old that has come to pass? — Additional resources: ➡️ Check out Michael Saylor: 💻 Website: https://www.michael.com/ ✖️ Twitter: https://twitter.com/saylor/ 📝 Get one month of Snipd Premium for free with this link: https://get.snipd.com/Cx7S/brianSnipd Snipd lets you take Smart Notes 🧠 with AI 💡 — it’s my favorite podcast player 😀 ! 📢 Ownership of your health starts with AG1. Try AG1 and get a FREE 1-year supply of Vitamin D3K2 and 5 FREE AG1 Travel Packs with your first purchase 👉 https://drinkag1.com/impossible ➡️ Follow me on your favorite platforms: ✖️ Twitter: https://twitter.com/DrBrianKeating 🔔 YouTube: https://www.youtube.com/DrBrianKeating?sub_confirmation=1 📝 Join my mailing list: https://briankeating.com/mailing_list ✍️ Check out my blog: https://briankeating.com/blog.php 🎙️ Follow my podcast: https://briankeating.com/podcast Into the Impossible with Brian Keating is a podcast dedicated to all those who want to explore the universe within and beyond the known. Make sure to subscribe so you never miss an episode! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Everybody with money on earth is going to lose half their wealth in the next 48 months if they do nothing.
0:06.0	If you're one of the billion people in a collapsing developed economy, you're going to lose everything if you do nothing.
0:12.0	The solution is a digital monetary network that
0:16.1	doesn't dissipate energy that you can access where no one can corrupt it and you can take
0:21.6	personal custody of your money.
0:23.2	You can live in a world where someone you don't know can rob you of all of your economic
0:28.4	power without your consent, without your knowledge, or you can live in a world where nobody can you choose.
0:35.6	Any sufficiently advanced technology is indistinguishable from magic.
0:48.5	Open the pod bay doors.
0:50.8	So it is a pleasure to welcome to the Into the Impossible podcast, none other than Michael
0:56.4	Saylor who is joining us today to talk about a whole host of things, not only Bitcoin and the splash that he's made lately, but also his wonderful book that we will get into as well, which is really prescient for predicting many things, not the least of which is how mobile technology would impact the planet.
1:20.5	And my question for him is, how can we use new technologies like blockchain like mobile connectivity 5G etc to
1:29.4	improve the world and improve perhaps the prosperity of the world. I think that is a major theme of
1:35.6	Michael's work. So Michael, how are you today?
1:38.1	Awesome, thanks for having me, Brian.
1:39.7	Yeah, it's a great pleasure to have you on the Into the Impossible Podcast.
1:43.5	So I was really intrigued by, you know, many of the conversations I've seen you have,
1:50.0	and oftentimes they relate to interests of mine, aviation,
1:53.2	I'm a private pilot, I am interested in the,
1:57.4	of, you know, being an astronaut,
1:59.7	and I know you are MIT trained in engineering.
2:03.0	We've had on a lot of professors and alum,
	...

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