sourceType:: video author:: Michael Saylor sourcePublication:: Pomp Podcast ref:: https://www.youtube.com/watch?v=WrR95PFYDFQ noteTitle:: Saylor on Buying Bitcoin With His Balance Sheet; Michael Saylor. (video)
Saylor on Buying Bitcoin With His Balance Sheet; Michael Saylor. (video)
Asset Inflation. Netflix, youtube, candy bars made by robots - these things aren’t getting inflated. scarce things are: you want property in NY or ivy league education. things you want are going up 7%.
if you want a $50,000 year yielding bond, used to cost $1M, now it’s $10M. Asset Inflation. A different kind of inflation than may be discussed.
the cash-sitting-in-the-bank yields started dwindling. this is noticeable when you hold a lot of cash. eventually to near-zero.
nothing has intrinsic value. things have value in the eyes of the valuer. water isn’t valuable unless there is a human around. gold is valuable when a human uses it for something.
bitcoin the currency vs bitcoin the payment network. the network itself is wildly valuable - the first in history to allow two individuals to transact with eachother in a peer-to-peer decentralized way instanly without borders or arbitrators.
on alts: you can fork bitcoin, but you can’t copy the hashpower, reputation, network of institutional infrastructure of bitcoin.
bitcoin is backed by compute - of the bitcoin network. having the bitcoin isn’t about redeeming the compute, it’s about securing the compute network. the same way you wouldn’t necessarily redeem the gold in a dollar, you don’t necessarily redeem bitcoin network compute power. You’re using your computing power to defend your purchasing power.