Dec. 16, 2024 - Freedomain Radio - Stefan Molyneux
05:59
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| Time | Text |
|---|---|
| So from Forbes, Forbes says, Trump confirms Bitcoin reserve plans, 15 trillion price boom predicted. | |
| This came as of December 14th, 7.40am. | |
| Donald Trump has firmly embraced Bitcoin and crypto this year as a leak reveals Russia could be about to start a Bitcoin cold war. | |
| The Bitcoin price has rocketed past 100k per Bitcoin on the back of Trump's November election, with the chief executive of a major Wall Street giant admitting Bitcoin FOMO. So, this is just a conceptual thing for people as a whole. | |
| So, people have a tough time buying Bitcoin if they compare Bitcoin to recent prices. | |
| Right? | |
| Excuse me. | |
| If they compare Bitcoin to recent prices, they have a tough time with it. | |
| Because if they say, well, it was 90, it's gone up to 100. Sorry, something went down the wrong pipe. | |
| It's 90, it's gone up to 100, so it's too expensive, right? | |
| Now, what was it, like 10 years ago, I said I had in my head 750k of Bitcoin US. So if you look at it that way, it's not investment advice, I'm just telling you my thoughts, right? | |
| Do your own research, make your own decisions. | |
| But if you say, if people say, what I'm doing is looking at Bitcoin historically, then it looks like, oh, it's gone up for a long time, it's going to go back down. | |
| IFU Bitcoin, personally, the way Moore's Law, right? | |
| So IFU Bitcoin, if you say, well, computers have gotten progressively faster, there's going to be a crash, and they're going to go back to being 286s, or 8088 processors, or whatever powered the ZX80, right? | |
| But computing power just continues to go up, right? | |
| Now there's some quantum computer, right? | |
| It's not going to crack Bitcoin, right? | |
| But there's some quantum computer, right? | |
| So... | |
| I view it that way. | |
| Well, you know, my first exposure to the internet was on a 4800 board modem. | |
| Is that right? | |
| I had a little notebook I bought from a company called Mighty Max. | |
| It was a 386SX25. It had a little modem built in. | |
| 4800 board, I think it was. | |
| Yeah, because it got to 14.4, then 28.8 with compression and stuff. | |
| And so, if you look at internet speeds, they go right up through the roof. | |
| Now, if you look at it that way, because Bitcoin is technology, like computers, chips, and like internet speed and so on, When you look at internet speed, you say, well, you know, internet speed has kind of doubled over the last couple of years, so I don't want to get any internet because it's just going to crash back down. | |
| And it could go to zero. | |
| Like, there might be no internet speeds in a month or a year. | |
| Because Bitcoin is technology, right? | |
| Technology tends to increase when it's popular and adopted at an exponential rate, right? | |
| And the adoption is the price. | |
| So I don't look at Bitcoin like any other sort of stock or asset or whatever it is, right? | |
| If it goes up, it's going to be a correction. | |
| It's like, where's the correction in computer speed? | |
| When did everyone say, well, you know, oof, you know, the i5, that's really fast, man, but that means that it's just going to crash back down to 286s because it just keeps going up. | |
| Now, software keeps getting slower as the processes keep getting faster, but that's sort of the way that I look at it, if that makes any sense. | |
| So, it is the difference between people who are looking at things in a linear Malthusian kind of way. | |
| So, Malthus, of course, made this famous prediction that Because the productivity of agriculture arises in a linear fashion, right? | |
| But human population growth is exponential that we're always going to end up starving. | |
| I mean, he was spectacularly wrong, right? | |
| He was spectacularly wrong because you just get more and more produce out of the land, right? | |
| Get better and better at farming. | |
| So, people who look at things in a linear fashion and look at things in a psychological fashion, which makes, you know, everything's the two things, right? | |
| The two things, the tulip mania and the South Sea bubble, right? | |
| Tulip mania was a mania because there was no particular value to tulips, right? | |
| That's kind of the way it works. | |
| They're just flowers, right? | |
| So, the people who look at technology in a linear fashion are outstripped by the people who understand that technology is an asymptote to virtual infinity, right? | |
| I mean, there was a internet download speed was achieved in Japan that downloaded all of Baldur's Gate in a fraction of a second, right? | |
| like it's 100 gigs. | |
| I mean, Socrates could only talk to a certain number of people and then he was killed. | |
| you I can talk to many more people, and talk at even many more people, and what I do echoes in eternity. | |
| No, what I'm doing is here forever, right? | |
| So. | |
| Somebody says, I can believe those abortion numbers They used to get them in a bus to go do it in some countries. | |
| Parents never knew. | |
| Somebody says, they've run into women who get violently upset if their view on abortion being their right being questioned. | |
| Yeah, it is tough. | |
| It is tough. | |
| So for, I'm not calling all of these women narcissists, of course, but for narcissists, other people only exist for their own convenience. | |
| And for a woman to have an abortion, she's obviously in. | |
| The vast majority of them are for Choice and preference. | |
| It is viewing the child as an object, like a spleen. | |
| You could take it out if it's inconvenient or bothering you or whatever, right? | |
| Or like a nose job. | |
| And that's cult, right? |
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