Episode Transcript
[00:00:00] What is up guys? This is Bitcoin Audible and I've got something a little bit different today. So I've been doing this two sats series that I post on Twitter nostr and YouTube and the videos take me a while to get done and I try. I put a lot of work into making them succinct and even though they're short form, I've had a number of people tell me that they didn't know about them because I don't post them or talk heavily about them in the show. So I thought I might try posting them in the feed. And they start as basically just me writing out an idea that should stand on its own in audio anyway. Of course you can always go to YouTube or rumble or Nostr or Twitter if you are looking for the video, but you can also find it here on Bitcoin Audible. And this is my 2sat series. A quick shout to our amazing sponsors. Leden with Bitcoin backed loans, Pub key app and their tools for re decentralizing the web Getchroma Co for light health and fixing your circadian rhythm and hormones and the hrf the fight for human rights and the Oslo Freedom Forum where they bring together freedom fighters from all over the world June 1st to 3rd, 2026. Find details, discounts and special links for all of them in the show Notes So this is guys two sats.
[00:01:18] Bitcoin's first 100 trillion if you ask me right now what I think Bitcoin's biggest market is going to be in the coming decade, it might not be what you'd expect.
[00:01:32] The first thing to understand is what's the biggest problem of fiat? Is it retail payments? Censorship, maybe? Poor options for savings?
[00:01:43] It's debt.
[00:01:45] It's absolutely unequivocally that the fiat system is suffocate society in an exponential cycle of greater and greater debt. Now, if you or I did this, our interest rate would skyrocket very quickly. So why doesn't the interest rate of perpetually indebted western nations shoot up when it's obvious they can't pay any of it back?
[00:02:07] Enter the central bank.
[00:02:10] They can literally buy their own government's debt by printing money out of thin air. Lowering the interest rate by inflating the money supply. Now of course the real resources, our houses, our cars, the stores, our production equipment, all of the things that sustain our living standards are very scarce. And understand if someone can print money to consume or own as many of those resources as they wish, it just means they're getting rich off of our backs.
[00:02:42] They print, we work.
[00:02:45] If you've ever wondered why technology keeps getting so much better, but it doesn't seem to free up any more time, or why we used to be able to get by on one decent paycheck, but now two paychecks doesn't even cut it. And on top of that, jobs are scarce. And why it seems like an entire generation has basically been pushed out of the market from ever owning a home. And why so many of us are literally living paycheck to to paycheck, feeling like there's no way out of this trap.
[00:03:14] That's the cost of the debt, our living standards. This is what it looks like to pay for it. And we're still doing this.
[00:03:23] They've created a perpetual motion machine by defrauding the very foundation of the market.
[00:03:31] So now the question is, if the interest rate in the debt market is fake, how can you safely lend or borrow?
[00:03:39] You need collateral. Not a promise of some arbitrarily inflated currency, but something real to protect both the borrower and the lender from being cheated. So what do we use?
[00:03:52] What about real estate?
[00:03:54] Well, after the 2008 global financial crisis, real estate took almost a decade to recover in price.
[00:04:01] And even worse, there were lots of cases of lenders notifying the occupant of the well maintained house that they had to be out by the end of the month. Then they came back and found the house completely trashed. The evicted weren't so happy about the situation. Good luck getting value back out of that. So what about cars? Well, same problem, except a lot worse. Maybe we can use art.
[00:04:23] Well, honestly, how much great art is there sitting out there that can fetch a reliable price? What's the lender gonna do? Put it on Facebook? Marketplace. Oh, I like this one.
[00:04:33] Okay, so what about gold?
[00:04:35] Well, it has this pesky little problem of being fake. A lot of the time people say they have it, but how would you know? Let's not talk about how hard it is to deliver a billion dollars of gold halfway around the world. The hard truth is, if gold could solve this problem, we wouldn't have this problem. Okay, so what about bonds?
[00:04:55] Well, the people who bought long bonds about three to five years ago have gotten screwed.
[00:05:02] Not only can they get barely half of the face value back if they try to sell those bonds today, but because the money supply is inflated by about 7 to 10% every single year, the dollars aren't even worth the same amount.
[00:05:17] So what would be the perfect collateral?
[00:05:21] Something that can't be damaged. Something that can be easily verified. Something that has a liquid global market that can be instantly delivered to anywhere in the world that can't be inflated away. And it would be even crazier if it was something that you could have genuine shared ownership of.
[00:05:38] Enter Bitcoin.
[00:05:41] Now, the bitcoin collateralized debt market is already tens of billions of dollars and it's going to keep growing because Bitcoin is literally the perfect collateral. It can be damaged. No one can create more Bitcoin. There's 21 million and that's it. It can be redeemed or turned over for payment in a moment. It can be easily verified and it has a global liquid market that is open 24 7, 365. And like magic, it has this incredible property where you can genuinely divide up ownership between people who are in different corners of the world. It doesn't meet some of our criteria. It excels at all of them. There are companies like Leden and Unchained, both of which I have been a happy customer of, which is why I mentioned them, offer Bitcoin backed loans. LEDN is the largest in the market and they do something called proof of reserves. You can actually take a hash and prove that your specific Bitcoin balance exists on chain.
[00:06:42] Do that with gold. Then there's Unchained and something called multi signature, which means that you can actually hold one of the keys and be part of your own collaterals custody.
[00:06:55] Now the key to a Bitcoin backed loan is that you still own the Bitcoin.
[00:07:02] So when the price of Bitcoin goes up in terms of endlessly printed dollars, you owe less of it. Now obviously this still comes with risk. It is a loan. But it's literally less risky than any other way to borrow or lend money. And no government, no central bank anywhere can inflate away the value of your collateral. Understand, this isn't solving a small problem in a small market.
[00:07:28] It's solving the biggest problem in the biggest market.
[00:07:33] The global debt market is in the realm of $315 trillion.
[00:07:39] And practically every bit of it is fraudulently priced by governments and central banks that cook the systemic books. But now this uncertain market has a tool that's not a little better, but an order of magnitude better than every other option. In my opinion, this market is going to explode for one very simple reason.
[00:08:00] Wealthy people never sell their assets.
[00:08:05] In less than 15 years, I believe this will drive Bitcoin to a $100 trillion market. And that won't be the end of it either. Because in that same 15 years, the debt problem will more than double. In the end, the price of debt will no longer be priced by the ability of the central banks to cook the books, but instead by the opportunity cost of not holding Bitcoin.
[00:08:28] The debt problem is an unstoppable train, and Bitcoin is the immovable mountain it's about to crash into.
[00:08:36] The question is, are you going to figure it out now or are you going to be left holding their bag?
[00:08:44] That's just my two cents.
[00:08:50] Don't forget to follow like subscribe, all that good stuff and a shout out to Leden. They support my work and if you'd like to find out more about them and bitcoin backed loans, there's a link right down below this video.
