Dec. 5, 2024 - Freedomain Radio - Stefan Molyneux
07:32
| 
| Time | Text |
|---|---|
| Satoshi Nakamoto gifted unthievable time, unstealable time. | |
| You cannot be retroactively enfucking slaved by the fiat monstrous with Bitcoin. | |
| They can't reach back in time And steal your life. | |
| And turn you from a free person relatively into a slave. | |
| In other words, having taxed away half your time, they can't tax and inflate away the other half later. | |
| So people are going to see their 20 years of savings. | |
| And I don't mean that they've saved for 20 years. | |
| I mean they've worked for 40 years even if they've saved half their money, which is really a quarter of their money because it's half that's left over after taxes. | |
| People are going to see 20 years of their life Go to 19, 18, 16, 15, and at some point they're going to say, they're going to realize, holy shit, it's going to zero. | |
| It's going to zero, which means if I can save five, so much the better. | |
| It's five or zero. | |
| So right now, people say, well, if I throw my money into Bitcoin, Well, it's highly speculative, you see. | |
| So I've got a sure thing here. | |
| The Titanic ain't sinking. | |
| I got a sure thing here because we've been told the Titanic is unsinkable and the economy for some reason because people aren't taught shit about anything in government schools. | |
| I don't want to go off on that raging tantrum. | |
| Tangent tantrum. | |
| Oh, God. | |
| Nose, every single time. | |
| I wish I had a little flamethrower to take out nose hairs. | |
| So, people think Because they haven't been taught anything, that fiat currency just goes on and on. | |
| Yeah, there's inflation, but, you know, my wages go up and it's kind of even-even. | |
| No, no, no. | |
| No, that's not even remotely true. | |
| Never has been true and ever will be true of any fiat currency. | |
| The power of fiat currency, I mean, people can't handle power in general. | |
| They sure as shit cannot handle the power of infinite money and control of interest rates. | |
| I mean, they absolutely in no way, shape, or form can handle anything to do with that. | |
| Because it is the most insidious power, because not one in a thousand or ten thousand people know exactly what's going on. | |
| So, so Bitcoin is considered risky and speculative, and TradFi, FiatFi, is considered stable. | |
| Right? | |
| And the Titanic analogy is imperfect, to put it mildly, because the Titanic was a glorious and beautifully appointed ship, and the rowboat was, you know, a piece of dirty, dusty, saltine crackers and burlap, | |
| inferior, infinitely inferior vessel, but it was just the only path to survival, whereas people will realize that the Titanic Bitcoin is not a ship, but a whirlpool sucking them down forever, and Bitcoin is the ultimate luxury interstellar liner, right? | |
| So people who miss the Bitcoin turnoff, they'll drive on and they'll be like, okay, well, I don't think that was the turnoff and it looked kind of sketchy down there, so, right? | |
| I remember being with a friend of mine in business, driving through a really bad section of Detroit, and he was lost, and I wanted to turn on the lights to check the map. | |
| He said, don't! | |
| They'll know we're tourists, or they'll know we're not from here. | |
| So they'll miss the turnoff, and they'll just get kind of, oh, should I turn? | |
| Should I turn back? | |
| Should I, you know, done this, that, or the other? | |
| But they'll keep driving, and then at some point, they'll be like, oh, God. | |
| This is just getting worse and worse. | |
| And they're low on gas, and it's a bad neighborhood, right? | |
| Fiat currency in the end is a breeding ground of crime and theft and desperation. | |
| The only place to hide is a library free of copper pipes. | |
| So at some point, the panic is going to overwhelm them, and they're just going to flip. | |
| And they're just going to turn and gun it the fuck out of there. | |
| And try to get to Bitcoin. | |
| And it's when people see that 75% of their savings have been eaten up by inflation and corruption. | |
| And they say, well, if I throw the remaining five into Bitcoin, I can keep it. | |
| But otherwise, I'm going to watch it go to zero. | |
| That's kind of a gut-level instinct that we have. | |
| It's a very interesting phenomenon. | |
| It's a gut-level instinct that we have about the sustainability of systems. | |
| Is the system sustainable? | |
| Is the system not sustainable? | |
| We have a really gut instinct about this. | |
| So, right now, what's happening, in my view, is that Bitcoin It's positioning itself as somewhat parallel to fiat-based traditional finance approaches or models. | |
| And they're saying, well, you know, Bitcoin can be a small part of your portfolio. | |
| You know, just, you know, it's an appreciating asset. | |
| It's a little sketchy. | |
| It's a little funky. | |
| It's a little, you know, who knows what. | |
| It's like kind of uber... | |
| Technology nerdcore, but, you know, just throw a little in, right? | |
| Which is kind of like saying, okay, look, I mean, just throw, I mean, the Titanic's fine, obviously, but, you know, just in case, just put one bag, just put one bag on the lifeboat. | |
| Just, you know, reserve your spot. | |
| You know, just put one bag, just, you know, 2%, 3%, just a little bit. | |
| You know, it's It's fun money. | |
| It's found money. | |
| It's throwaway money. | |
| Like, it could go to zero, although, what was it somebody said the other day? | |
| There's no way Bitcoin's gonna go to zero, because I'm gonna put a buy-in order at a penny. | |
| So right now, it's become serious enough that people are saying, you know, just, of course, look, the Titanic's fine. | |
| Just put a little bag, you know, put a little bag on the seat of one of the lifeboats. | |
| I mean, look, 99.99, you're not going to need it, but, you know, what the heck, right? | |
| So, it's positioning itself as a fun little play area, or, of course, Bitcoin doesn't do anything to itself, but it's being positioned, I think, as a kind of little fun corner play area Where people can throw a little mad money, you know, just because it's perceived to have value. | |
| Clearly, it's gone up a lot in value. | |
| Maybe it's the top. | |
| Maybe it's not. | |
| Maybe this Michael Saylor guy who says it's going to go to 13 million a Bitcoin. | |
| Maybe he's completely insane. | |
| He does look like Santa Claus with an eating disorder full of meth. | |
| And I say this with love and affection. | |
| He's a great guy in my humble opinion. | |
| But, you know, the man could crack a smile and I appreciate the intensity because you really can't get that kind of leadership without that kind of intensity. | |
| But the man looks like he could, you know, bore through a diamond wall just with seeing a Bitcoin on the other eyes with those laser eyes. |
Export Selection