risk-fundamentals.ghost.io/everybody-has-a-price/

summaryThis conversation explores the dynamics of power, reputation, and economic warfare in the context of revolutionary movements and the emergence of Bitcoin. It discusses how historical methods of suppressing dissent have evolved from overt violence to more insidious tactics like reputation smearing and co-optation. The discussion culminates in the introduction of Bitcoin as a means of fostering cooperation and challenging the status quo of fiat currency.

takeaways

• Everybody has a price, even Satoshi.
• The modern phase of fighting dissent includes reputation smearing.
• Buying off dissent is often more effective than violence.
• The state can easily buy cooperation with fiat money.
• Willful ignorance can be purchased at varying costs.
• Wealthy individuals are often targeted through reputation attacks.
• Bitcoin offers a new form of cooperation against fiat.
• The value of Bitcoin lies in its principles and community.
• Fiat money's influence is diminishing as its value debases.
• Satoshi's introduction of Bitcoin changes the economic landscape.

Summary

This conversation explores the rise and fall of two Bitcoin companies, Swan and Fold. Swan was once highly respected and known for calling out scams in the industry, but their reputation took a hit when their custodian, Prime Trust, went bankrupt. On the other hand, Fold built alternative rails and avoided the Prime Trust issue, leading to their upcoming IPO. The conversation raises the question of whether there is such a thing as a Bitcoin company and highlights the importance of discipline and avoiding blind spots in the industry.

Takeaways

• Swan and Fold were two Bitcoin companies with similar objectives, but Swan's reputation suffered when their custodian, Prime Trust, went bankrupt.
• Fold built alternative rails and avoided the Prime Trust issue, leading to their upcoming IPO.
• The conversation raises the question of whether there is such a thing as a Bitcoin company.
• Discipline and avoiding blind spots are crucial in the Bitcoin industry.

Chapters

00:00 Introduction and Background

02:24 The Rise and Fall of Swan and Fold

07:05 Swan's Unfortunate Sponsorship

10:47The Bankruptcy of Prime Trust

14:20 Swan's Layoffs and Fold's IPO

19:08 Swan's Humility and Fold's Watchlist

Summary. In this conversation, Fundamentals reflects on his transition from a long career in the fiat world to the world of Bitcoin. He compares his journey to the biblical story of Genesis, Exodus, and Leviticus, and contemplates the purpose of his deep dive into mathematics. He discusses the importance of personal integrity and conviction in navigating the Bitcoin world and contrasts himself with his former peers who are unable to walk away from the power and position that fiat provides. Fundamentals also emphasizes his passion for developing people and his desire to create a math and Bitcoin academy.

Takeaways

• Transitioning from a fiat career to the world of Bitcoin requires personal conviction and integrity.
• Deep diving into mathematics in the Bitcoin world can be challenging but rewarding.
• Walking away from power and position in the fiat world is a rare and courageous choice.
• Fundamentals is passionate about developing people and wants to create a math and Bitcoin academy.