This article is prepared only for smart people who will read until the end 👫
These are the Collection of talks from Michael Saylor about #bitcoin
"I think that in the history of technology, what you have is you have certain technical platforms that they're not viable until they are. And when they are, they burn very brightly for some number of years and then they hit a wall and they stop like, say, nuclear energy. And I mean, nuclear power was an extraordinary breakthrough and we haven't built a nuclear power plant in 50 years.
So Sometimes things will race forward and then hit a wall and they'll stop and then something else will kick in. Like AI, people have been trying to make AI work for a decade and it wasn't that impressive, and then all of a sudden in 2022, you have ChatGPT and mid-journey, and these AIs, and now it's pretty clear every year for the next ten years, there's going to be something extraordinary there.
So I think if you're a technologist, you kind of have to just wait until you see a certain platform commercialize. And when it starts to commercialize, then you can make a living. You can engineer great things. But you, people, are trying to fly for 500 years before the Wright brothers, and there's a very famous headline in The New York Times. It was like 60 days before the Wright brothers flew that declares that no one will ever fly. It's utterly impossible.
So people tend to try and fail for a long period. And then there's a breakthrough throughout history.
Time and time again, humanity has gone through periods of plateau and minimal growth before new technologies become viable. And then there is a Cambrian explosion of innovation and technologies that truly transform the world.
Michael Saylor, the former CEO and founder of MicroStrategy and the man who truly spearheaded the institutional wave of adoption of Bitcoin, believes we are on the cusp of another explosion 💥, and it's coming from Bitcoin and artificial intelligence.
In his most recent interview, Saylor breaks down why he's more bullish than ever on Bitcoin and why it's truly perfect money and investors' best chance at conserving and building wealth. Make sure to stick around to the end of the article where Saylor breaks down why he believes Bitcoin is going to 80% dominance in terms of the entire crypto market and with huge catalysts such as BlackRock's filing for a Bitcoin ETF and the Bitcoin halving in less than a year. Bitcoin does all the momentum.
He continues, "The problem of economics. How do you create a perfect economic system or perfect money? People try to sol it for thousands and thousands of years.
Isaac Newton was the head of the Treasury of the Mint, I guess in London in his day. And so lots of learning. People try to solve the problem of economics. And then along comes Satoshi, and Satoshi is kind of a cryptographer, a systems engineer-type computer engineer. And so it's a computer scientist that comes up with the perfect economic system, just like it's a clockmaker that solves the problem of location, just like it's a bicycle mechanic that teaches you how to fly. And that's kind of the story of history.
It's always somebody who surprises you with some breakthrough from a field you didn't expect at a time you didn't expect it. What's particularly beautiful about Bitcoin is that it is a perfect machine constructed of imperfect parts to be operated by imperfect people.😂 And so but the genius is what we want to do is have millions and millions of computers that are all randomly interacting with each other. But we want to on average generate a block every 10 minutes. But you know, something it's 11 minutes and sometimes it's 2 minutes and sometimes it's 56 minutes. And so it's not 10 minutes, but because of the difficult adjustment, which is a first-order negative feedback loop, that first-order negative feedback loop and enough transactions cause the entire system to dynamically retarget that ten-minute goal. And then we want to allow anybody in the world to create a Bitcoin mining rig and we want to allow any engineer to make it work faster.
OK, so that's a very uncontrolled variable. Like any of the 8 billion people can do as much Bitcoin mining as they want and we can create can mine with CPUs and GPUs and first order A6 and S9 and S19 and S19 pluses or pros. All these things are changing and I can overlock them on under the clock then and there is no central ruler. But at the end of the day, what I want is the same total of all human effort to result in the system generating exactly the right amount of Bitcoin and issuance of schedule throughout hundreds of years. And that was achieved through all of these servo mechanisms, cybernetic feedback if you will. And so that's interesting. And the fact that humans are greedy and sometimes there're lazy and sometimes there're greedy and sometimes they're smart and sometimes they're stupid and incompetent. And yet Bitcoin manages to function with all of those types of people. And so the competent benefit from the incompetent you see, and the network burden shifts from the lazy to the industrious, and the overall parameters keep adjusting to create the ultimate scarcity.
You know, where there pops up R&D and other areas of engineering when it's designed that way, it's called stable. If you left the center of gravity above the waterline, I put it in there like the reason you don't have wrecking balls hanging over your yacht is if you roll to the left, it'll just flip over and capsize. And so unstable ships tend to capsize and sink, and stable ships tend to not capsize. And of course, stupid engineers sink all their ships 🚢 and smart engineers create ships that don't sink. And the same is with stupid aerospace designers.
When you're designing an engineering system, you want it to be stable. And of course, you're designing the system thinking, well, you know, the wind is going to blow me over and you know the currents are going to push me over, and there's eventually going to be a stupid person at the helm of the ship and they're going to do the wrong thing.
I need the machine to compensate in the right way to keep you from destroying yourself. Well, I think the point that I would make there that's very important is I don't think there's a worldwide attack on Bitcoin. I think that there's a worldwide regulatory crackdown on a lot of crypto ideas like digital currency, digital security, digital exchange, and digital token. But those are all related ideas. But they're not Bitcoin. If we take Bitcoin, which is the idea of a digital commodity, which is a store of value of a digital property that has been endorsed by four presidential candidates, Kennedy and DeSantis both have endorsed it. It has been endorsed by the head of the CFTC and the head of the SCC. It has been acknowledged as a legitimate asset by the head of the European Central Bank 🏦 and by the head of the Federal Reserve. And it has been acknowledged as an asset by the White House.
So it has also been acknowledged by Fidelity and by BlackRock. Right. The two largest money managers in the world. So if you're looking to the world to see are they going to acknowledge Bitcoin as an asset class and as a legitimate crypto commodity?
I think you have your answer. There is no government in the world I'm aware of that's banning it. Even the Chinese aren't banning the ownership of Bitcoin. What they're attacking is potentially the mining of it or crypto trading. And there's a lot of controversy around whether can I issue a stablecoin can I issue a security that's a crypto token. The most important point to take away is you should separate Bitcoin from crypto.
Crypto is about a dozen very progressive ideas, many of which are threatening to the establishment. Bitcoin is one overarching revolutionary idea, the idea of digitally transforming property and putting it in cyberspace. The separation of property from Earth, the idea that you could own a billion dollars of property that's in cyberspace as opposed to a billion-dollar building. Sometimes we focus. We call it the separation of money from the state. But a more profound idea is Bitcoin is the first tangible digital property in the history of the human race. And if it was nothing more than that, that's worth hundreds of trillions of dollars. It's a big, big idea. And you don't need to change the currency or change any other law. Right Every nation on Earth would benefit from having trillions of dollars of digital property because digital property is the basis of the 21st-century economy. I mean, I think that Bitcoin's a solution for everybody it's the solution for every company. It's a solution for every investor, it's a solution for every government. It's a solution for every individual, every family.
So the institutions have a lot of money and a lot of responsibility in the world pension funds, banks, et cetera. So we've been pursuing support for institutions because we want everyone to embrace this network, not just individuals like the Fidelity's the vanguard of the world.
I think that Bitcoin has crossed the event horizon with all the presidential candidates endorsing it and with all the big investors getting interested in it
US Senator: Bitcoin is a commodity "There Is No Dispute About This"
And with all the regulators endorsing it as a digital commodity. I think it's pretty clear that it's an asset class that is being accepted by the world. You know I said cheek a while ago I said, look Bitcoin Not Going to zero, So it's Going to $ 1 million
It's either an asset class or it isn't. If it is an asset class, then it's only 1% penetrated, which means that we've got a long way to go. Here as everybody else starts to adopt it
So I think Bitcoin has moved through its most difficult years. The rest of the crypto economy has rationalized the people that were selling Bitcoin are bankrupt. Everyone that was lending out Bitcoin has gone bankrupt. Everyone that was shorting it has gone bankrupt. And so if you look at all the meltdowns starting with Do Kwan and Terra Luna and Three Arrow and Celsius and BlockFI and Voyager and FTX and Alameda and the like, if you look at all of them they all have one thing in common. They weren't focused on Bitcoin. They were trying to juggle razor blades and they were pursuing other complicated things. The simple idea is to buy Bitcoin, hold Bitcoin, support Bitcoin, and educate the world on Bitcoin.
And people that are doing that have been extraordinarily successful over the past few years. I think that we're poised for the next expansion here. I expect that the crypto industry has been educated. People are realizing that Bitcoin is a better asset than ever. I think the mainstream investors are arriving, the BlackRock and the Fidelity of the world. I think mainstream politicians are embracing Bitcoin. I think the use case for Bitcoin has never been clearer. I think the technology plugged into Bitcoin, like the lightning network, has never been better. And if you look at exchanges like Binance.
Binance Working on Bitcoin Lightning Network Integration
The crypto exchange confirmed that it has started the process of integrating the technology and that it is already running Lightning Network nodes.
Crypto exchanges like Kraken, OKX, and Bitfinex have already integrated the technology into their platforms while Coinbase said it will do so in the future.
He continues to say:
And Coinbase, they're plugging lighting in. You're seeing lighting getting rolled out into all sorts of mobile apps and web apps.
So I think that the future looks bright for Bitcoin. I think the future looks bright for everyone. That's laser-like focused on how they can improve their product or their service with Bitcoin. I think that Bitcoin is creeping its way into the balance sheets of more and more families and more companies and institutions. I think there's regulatory clarity coming in the form of more favorable according like fair value accounting, which is going to be very beneficial for companies that want to own Bitcoin. I think regulatory clarity over the definition of a digital commodity is very helpful. And also I think that there's just a stream of every bullish fundamental development that has improved the outlook for Bitcoin over the past year. And I think the next year is going to be a good one for us. So I'm looking forward to it. "
So there's Michael Saylor, and it's evident that his belief in Bitcoin is unshakable and unwavering. Saylor argues that we stand at the precipice of an unprecedented time in human history, with Bitcoin acting as the quintessential tool for safeguarding and proliferating wealth in tandem with the revolutionary process of artificial intelligence, we are on the cusp of an exhilarating chapter in the story of human achievement. We're not merely witnessing change. We are part of an evolutionary tapestry that will be etched into history. Saylor's comparison of the imminent technology explosion to the Cambrian period is a testament to the magnitude of change he anticipates.
His analysis showcases the potential that Bitcoin and AI hold to radically alter not only the financial landscape but society as a whole, with monumental catalysts such as BlackRock's filing for a Bitcoin ETF and the upcoming halving of the momentum is undoubtedly in Bitcoin's favor. As investors and enthusiasts, it's essential to remain vigilant and informed, understanding the trends and technologies that are shaping the world can be pivotal in making astute financial decisions.
Hope you enjoy this beautiful article and that you are among the smartest person in the world after understanding Bitcoin.
