Dec. 16, 2024 - Freedomain Radio - Stefan Molyneux
05:24
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| Time | Text |
|---|---|
| Question. | |
| If in a first-world country people choose porn, gambling, drugs, alcohol, won't people use a more valuable anonymous and easy transfer money system to consolidate the corruption? | |
| I'm not really sure what that means. | |
| I mean, people choose these things because they're abused as children. | |
| They're just hunting dopamine because they're miserable because of prior abuse. | |
| Thank you, Karis. | |
| If you want to retype that, please, I'm happy to read it again. | |
| I just couldn't quite follow it. | |
| Somebody writes, Simple version. | |
| If Bitcoin reaches stratospheric levels via fiat currency, how will it be used practically? | |
| Will the fractional nature prevent this Satoshi coin or another level yet for saying buying and selling everyday goods? | |
| I don't know. | |
| But if the combined genius of the most brilliant people in the world can solve a problem, the problem will be solved. | |
| The problem will be solved. | |
| You can, that you don't know how the problem will be solved. | |
| I don't know how a computer is built, but there still are computers, right? | |
| I don't understand the mathematics behind quantum physics, but it's how computers run and work. | |
| So it's really, really, I can't stress this enough, man. | |
| It is really, really, really important that you don't have main character syndrome and assume that because you don't know how something can be done, it can't be done. | |
| Well, how's it going to solve this? | |
| And how's that going to be solved? | |
| But this is all the way back to how are crops going to be picked if we don't have slaves, right? | |
| How's it going to happen? | |
| It's going to happen. | |
| People need food. | |
| How's the cotton going to be picked? | |
| Well, people need clothing. | |
| They like cotton, so it's going to happen. | |
| But there are these limitations. | |
| I don't know how it can be solved. | |
| It is vainglorious, and I push back on this hard, right? | |
| It is vainglorious in the extreme to say a big problem with a system is that I don't understand how it could solve things. | |
| The big problem with a system is I don't understand how things can be solved. | |
| People will figure it out. | |
| If it can be figured out. | |
| And if, for whatever reason, there's some physical limitation, right? | |
| So the whole issue is that Bitcoin is slow because it's decentralized, right? | |
| That you need to... | |
| Bitcoin hitting 103, 331 during the show, a new all-time high. | |
| Right. | |
| Lightning Network can scale to 400,000 transactions per second on Bitcoin, which dwarfs Visa and MasterCard, so it'll be able to be used for everyday transactions. | |
| Yes, I mean, it's still a little janky, but yes, I think that it can be very fast, right? | |
| So, of course, as I'm sure you know, the reason why Bitcoin is so powerful is it's decentralized. | |
| The reason why Visa is so fast is it's centralized. | |
| So if you want decentralized currency, which removes it from centralized control, you're going to have to accept slowdowns. | |
| So you can, because you're betting, in a sense, your financial health and your life and all of that. | |
| So you're saying that the biggest geniuses with the greatest conceivable incentives won't be able to solve a problem. | |
| That's pretty tough, man. | |
| That's a pretty tough thing to say. | |
| Do you understand? | |
| There are trillions and trillions and trillions of dollars of value locked up in Bitcoin solving these problems. | |
| So you have the biggest geniuses, the most brilliant people in the known universe with the greatest conceivable incentive, and you want to bet against them solving a problem? | |
| And the alternative is, and it's not just the biggest incentive in Bitcoin, it's the biggest disincentive in fiat. | |
| So, the biggest geniuses get to be fantastically wealthy if they solve this problem, and they get to be broken in prison if they don't. | |
| Biggest geniuses have the biggest upside in history and the biggest downside in history. | |
| That is the big delta. | |
| So the biggest geniuses can be fantastically wealthy and free, or broke and or imprisoned, I would not in a million years bet against that. | |
| I'm just telling you. | |
| I mean, I can't solve the problem. | |
| That's all right. | |
| But it's Bitcoin or a bust, right? | |
| And not the fun kind of bust at Hooters. | |
| It's Bitcoin or a bust. | |
| You understand? | |
| There is no alternative. | |
| There is no second best. | |
| There is no backup plan. | |
| There's no plan B. There's nothing like that. | |
| It's Bitcoin or bust. | |
| We either are free through Bitcoin or we are enslaved forever. | |
| And whichever country adopts it the fastest and the most and offers a safe haven To people with the foresight and brilliance to have a reasonable amount of Bitcoin, that country will be the most powerful entity in the known universe for ever and ever men. | |
| And I'm not kidding about that. | |
| And I talked about this many years ago, that there's a country that's going to create a safe haven and blah, blah, blah, right? | |
| So somebody says, I've been to many Bitcoin conferences. | |
| The developers in Bitcoin are next level genius. | |
| Yeah. | |
| I remember many years ago, being at a Bitcoin conference and the developers, I was giving a speech and they were talking about how, you know, well, you know, you can put your phone number in and then you have to approve everything with your phone. |
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