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.

In this episode, the host shares two stories from his stand-up comedy journey. The first story is about a disastrous performance in New York where the crowd hated him, but he learned to overcome it by using self-deprecating humor. The second story is about dealing with a heckler, where he found the courage to stand up for himself and gained a newfound confidence. These stories highlight the challenges and triumphs of being a stand-up comedian.

In this solo rip, Fundamentals discusses the concept of integrity and how it is not related to morality. He explains that integrity is the foundation for fulfilling commitments and achieving goals. Fundamentals emphasizes that the size of one's commitments is limited by their level of integrity. He gives examples of commitments such as having more Bitcoin at the end of the year and making it in life. Fundamentals highlights the importance of keeping one's word and building a strong relationship with it. He concludes by encouraging listeners to develop a strong foundation of integrity.

Summary. In this conversation, Fundamentals discusses various aspects of the Bitcoin ecosystem, focusing on the market for block space and its significance. The conversation begins with an introduction and appreciation for the feedback received. Then, the discussion moves to Bitcoin Mechanic's statements about the block space market and high fees. Fundamentals emphasizes the importance of market dynamics and incentives in determining the fee market. The conversation further explores the morality of block space usage and the purpose of Bitcoin in challenging fiat systems. Finally, Fundamentals highlights the impact of block space scarcity in dismantling traditional financial systems.

Takeaways

• The market for block space in Bitcoin is driven by market dynamics and incentives, rather than moral judgments.
• Bitcoin's purpose is to challenge and dismantle fiat systems, and its impact is not solely dependent on widespread ownership or usage of UTXOs.
• Block space scarcity is a feature of Bitcoin that contributes to its ability to disrupt traditional financial systems.
• Virtue signaling and moralizing about block space usage can distract from the broader goal of Bitcoin's impact on fiat.

In this solo episode, Fundamentals discusses the concept of mathematics and Bitcoin as time machines. He explores how math can solve problems more efficiently and how Bitcoin's ability to traverse space enables it to provide a sense of time. Fundamentals also delves into the importance of learning math and how Bitcoin can enhance the learning process. He emphasizes the significance of Bitcoin in the context of the real work that needs to be done and highlights the need to adopt Bitcoin to progress further. The episode concludes with a discussion on the importance of spending Bitcoin and participating in a circular economy.