March 14, 2021 - Freedomain Radio - Stefan Molyneux
08:34
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| Having been madly enthusiastic and supportive of Bitcoin since 2010, I hope that I have some credibility in this space and I hope that people will listen to me when I tell you how to make crypto as a whole. | |
| I get Bitcoin as the big bear in the room and there's a lot of other cryptos around, a lot of other altcoins that have fantastic capabilities. | |
| And technology and programmable contracts and all kinds of amazing... | |
| They're faster, they're leaner, they're meaner, they're better in some... | |
| I get all of that. I get all of that. | |
| I really do. I've built a successful software company. | |
| I've built the world's largest and most popular philosophy conversation. | |
| I know just a little bit about how to get things into the public eye and how to get them to care and how to get things to grow. | |
| So again, I hope that you will take some of this in the spirit of love and encouragement and enthusiasm in which it is meant, but there's only one way for you to get your favorite altcoin Into the public consciousness. | |
| Into success. | |
| There is but one way to do it. | |
| And that is through Bitcoin. That is through Bitcoin. | |
| Bitcoin is the icebreaker. | |
| Bitcoin is the massive planetary introduction to cryptocurrencies. | |
| And Bitcoin is what you have to tether your hopes and dreams to in order to get your favorite altcoin into public consciousness. | |
| That has no chance whatsoever, whatsoever. | |
| No chance whatsoever that you will be able to move your altcoin ahead of Bitcoin. | |
| It's just not going to happen. | |
| The momentum is there from the institutions and from the media and from academia and you name it. | |
| The media is talking that the Bitcoin is the icebreaker that gets everything else into the public consciousness. | |
| So I get, you see shortcomings of Bitcoin. | |
| I sympathize. I understand. | |
| I see them too. I guess a little slow. | |
| Mining costs could be a little high. | |
| Kind of energy intense. | |
| I get all of that. Absolutely, completely and totally right. | |
| But the enemy is not Bitcoin if you're into altcoins. | |
| The enemy is not Bitcoin. The enemy is central banking. | |
| The enemy is the Federal Reserve. | |
| The enemy is fiat currency. | |
| Bitcoin can't be used to enslave you and your children. | |
| Bitcoin can't be used to start wars. | |
| Bitcoin can't impoverish the poor and feed the rich endless trays of gold. | |
| Bitcoin can't do any of that stuff so you've got to frankly get your head out of the sand. | |
| And work on the common enemy, which is liberating people from the slow fiscal, economic, and life strangulation of central banking. | |
| That's the big elephant in the room. | |
| That's what we have to focus on. | |
| And the infighting of the crypto community, my altcoin is better than your altcoin, which is better than Bitcoin. | |
| Guys, get a phalanx together. | |
| Got a bigger issue going on. | |
| My daughter's born into over a million dollars of debt. | |
| Let's focus on that. | |
| Let's focus on how the rich suck up the freshly minted dollars while the poor get shafted with massive inflation. | |
| Let's focus on the fact that money printing has corrupted the entire economy, the entire political system. | |
| It funds the military-industrial complex. | |
| It's used To provide massive, unsustainable pension benefits to government workers. | |
| That's the issue. | |
| The infighting. | |
| Gotta stop. Look. | |
| Here's the thing. You got your favorite altcoin. | |
| I love you for it. | |
| I think it's absolutely wonderful. | |
| I applaud you for it. That's the kind of intellectual competition we're gonna need. | |
| Later. Not now. | |
| Not now. Later. | |
| There's plenty of time to divide the spoils after we win the war. | |
| You understand? First victory, and then the division of the spoils. | |
| You've got to kill smorg before you can divide up the treasure. | |
| Smorg, again, being the central banking. | |
| We've got to move together. | |
| Bitcoin is the bulldozer. | |
| Bitcoin is the wrecking ball. | |
| Of the soul and civilization sucking vampirism of central banking. | |
| That is the battering ram that opens the castle. | |
| And saying, well, we could have a better battering ram at some point in the future and, you know, it's not shaped the right way and it takes too many people to shove the battering ram against the castle doors. | |
| To hell with that! Just get into the castle! | |
| Get into the castle and then we'll figure out what to do from there. | |
| You've got to get behind Bitcoin. | |
| Now, you've got your issues with Bitcoin. | |
| Fine. But people don't even understand what Bitcoin is. | |
| They don't understand what crypto is. | |
| And they sure as hell aren't going to understand your particular altcoin until they get into Bitcoin. | |
| They don't even know what problem your altcoin is trying to solve because they don't know what Bitcoin does. | |
| They don't know what it can do. | |
| They don't know what its limitations are. | |
| You get Bitcoin in front of them. | |
| Let's say you think, oh my gosh, it takes way too long to settle the transaction in Bitcoin. | |
| Okay. So you get Bitcoin into the hands of people, and then they say, oh gosh, it seems to take quite a long time to settle these transactions, but I sure do love me some cryptocurrency. | |
| And then you slide in. | |
| You slither in. And you say, oh, I agree with you. | |
| Bitcoin does have its limitations now that you've experienced them in a vivid personal sense. | |
| You tried to sell some Bitcoin. | |
| It took two hours to get the transaction. | |
| You lost money. Then you can slide in. | |
| And say, ah, I've got a great solution for that. | |
| Now that you already understand crypto, you already understand public blockchains, you already understand public ledgers, you already understand all of this stuff, I got me a beautiful solution for you. | |
| But people aren't even in the mind space of knowing what Bitcoin is, let alone what its shortcomings are, and therefore there's no market demand for the specific problems your altcoin is trying to solve. | |
| They don't even understand. | |
| There was a language. Esperanto was invented by a bunch of communists to replace all the language around the world. | |
| Very few people ended up learning it. | |
| It went nowhere. You've got to have market penetration before there's diversification. | |
| Bitcoin is such a monolith. | |
| You can't step around it. | |
| You get behind it. You use it to smash through the central banking, enter the public consciousness. | |
| Then you divide things up. | |
| Bitcoin at the moment has got a ways to go. | |
| Bitcoin currently is larger than the Canadian currency. | |
| Bitcoin is 10% of the value of all the gold in the world. | |
| Bitcoin is 80% of the value of all the silver in the world. | |
| You can't overtake that. | |
| There's too much investment, too much wealth, too much publicity. | |
| Publicity is the key. You cannot get publicity for an altcoin until... | |
| Bitcoin gets into the public consciousness. | |
| You just, you can't do it. | |
| And I know it's a little bit of like, oh, but I don't like Bitcoin. | |
| It doesn't do what I want it to do. | |
| I get all of that. I really do. | |
| And I'm saying this because I hugely respect your love and your desire and your thirst to get your coin front and center in the public consciousness. | |
| I love you for it. And I'm trying to help you achieve that. | |
| I'm not saying give up on your altcoins and get behind Bitcoin for the sake of Bitcoin. | |
| I'm not saying, I'm saying for your altcoins, you get behind Bitcoin. | |
| So that people understand the space. | |
| They utilize it, they expand it, they invest in it, they get it. | |
| And then, and then, you can slide in with your solutions, but not until Bitcoin is out there in a way that is really only just beginning. | |
| You can't slide around it. | |
| You can't get past it. | |
| You can't get ahead of it. | |
| Use it to your advantage. | |
| Use the momentum of maybe a coin you consider your enemy, like Bitcoin. | |
| Use that momentum to get your Altcoin out there. | |
| I'm saying this to you not because I want you to love Bitcoin, but because it's the only way to consummate your love for your altcoins. | |
| Bitcoin or bust for everything you want to bring to the world. |
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