Episode Transcript
[00:00:00] In this framing, Bitcoin isn't a slower crypto. It's the engineering benchmark for systems that must endure, not entertain.
[00:00:11] Bitcoin isn't moving slowly because it's dying. It's moving carefully because it's winning. It's not an app platform or a sandbox. It's a protocol layer for the future of money.
[00:00:26] The best in Bitcoin made Audible. I am Guy Swan and this is Bitcoin Audible.
[00:00:49] What is up, guys? Welcome back to Bitcoin Audible. I am Gaiswan, the guy who has read more about bitcoin than anybody else you know. This show is brought to you by Chroma. This company is built by Bitcoiners and is all about light health and red light therapy. Now, I actually intend to do a show a little bit on this rabbit hole and probably a video. But over the last half year or so I have done a lot to control my light. Actually got a daylight computer for working at night. I have color filters on all of my screens for the time of day and it has made way more of a difference than I had Anticip.
[00:01:28] If you haven't actually started exploring this yet, then I'd say start with just blue light blocking glasses that you wear like clockwork. And I, I mean that literally like you wear at specific times. Chroma has the nightshade because that has had more of an obvious effect than anything else I've done. There's a link as well as a discount code down in the show notes. This show is also brought to you by the HRF and the Financial Freedom Report. If you want to stay updated on the fight for monetary freedom all around the world, both the developments that are getting in the way of it and the very tools you need to protect it, check out the Financial Freedom Report. And lastly, one of those tools specifically for protecting it is PubKey. I have literally been waiting 20 years for the login experience of PubKey. That's P U b k y by the way, no E for the Pubkey ring to basically be my experience in logging into websites, you must experience it. To Understand go to PubKey app p u b k y dot app. They just launched a couple of weeks ago and but they are just building incredible tools and have been watching everything that they are building very, very closely. Seriously, we're going to fix the centralizing problems of the web. There are too many people building too many awesome things for us not to. And funny enough, you will find multiple of them right in the show Notes of this show. Now Today we have a post written and published on Noster by Brunswick. First time author on the show, but he's actually got a number of really good posts. I kind of browse it in the the newsletter or the feeds or whatever that I keep a close eye on on Nostr and his is one that shows up in that list from time to time and I'll just kind of like scan through and he's had like a couple of good things but this one I just thought because I've had a number of new people recently say they were going to check out my show and just like in person interactions and I get old are always coming back up. And then I look at the feed of the show and I'm thinking like oh, the latest episode is not going to make any sense to that person at all. And we talked a lot about why bitcoin is a foundational tool and protocol and why crypto so deeply misses the entire point of all of this. And then I read this post. Just great timing. I read this post with by Brunswick and it's so succinctly lays out kind of all the major points on this. So I thought this would be great to hit on the show. So we will follow this with a solid guys take afterward. But for now let's go ahead and get into today's read and it's titled Bitcoin for Engineers. Why Bitcoin's Design Solves Real Problems, Not Just Theoretical Ones By Brunswick Bitcoin isn't broken, and you're not here to fix it.
[00:04:17] If you're an engineer stepping into the bitcoin space from the broader crypto ecosystem, you're probably carrying a mental model shaped by speed, flexibility, and rapid innovation. That makes sense. Most blockchain platforms pride themselves on throughput programmability and dev agility. But bitcoin operates from a different set of first principles. It's not competing to be the fastest network or the most expressive smart contract platform.
[00:04:46] It's aiming to be the most credible, neutral, and globally accessible value layer in human history.
[00:04:55] Here's why that matters, and why Bitcoin is not just an alternative crypto asset, but a structural necessity in the global financial system.
[00:05:07] One Bitcoin fixes the Triffin Dilemma not with policy, but protocol.
[00:05:13] The Triffin Dilemma shows us that any country issuing the global reserve currency must run persistent deficits to supply that currency to the world. That's not a flaw of bad leadership, it's an inherent contradiction. The US Must debase its own monetary integrity to meet global dollar demand That's a self terminating system.
[00:05:39] Bitcoin sidesteps this entirely by non sovereign. No single nation owns it. Hard capped, no central authority can inflate it. Verifiable and neutral. Anyone with a full node can enforce the rules.
[00:05:56] In other words, Bitcoin turns global liquidity into an engineering problem, not a political one. No other system, fiat or crypto has achieved that.
[00:06:08] 2. Bitcoin's ossification is intentional and it's a feature.
[00:06:15] From the outside, Bitcoin development may look sluggish. Features are slow to roll out, code changes are conservative. Consensus rules are treated as sacred.
[00:06:24] That's the point. When you're building the global monetary base layer, stability is not a weakness, it's a prerequisite.
[00:06:34] Every other financial instrument, app or protocol that builds on Bitcoin depends on one assurance that the base layer won't change underneath them without extreme scrutiny.
[00:06:48] So called ossification is just another term for predictability and integrity. And when the market does demand change, SEGWIT or Taproot Bitcoin soft fork governance process has proven capable of deploying it safely without coercive central control.
[00:07:06] 3.
[00:07:07] Layered architecture Throughput is not a base layer concern.
[00:07:13] You don't scale settlement at the base layer, you build layered systems. Just as TCPIP doesn't need to carry YouTube traffic directly, Bitcoin doesn't need to process every microtransaction.
[00:07:28] Instead it anchors lightning for fast payments, Fediment for community custody, ark for privacy and UTXO compression statechains, sidechains and covenants coming evolutions.
[00:07:42] All of these inherit Bitcoin's security and scarcity while handling volume off chain in ways that maintain auditability and self custody.
[00:07:53] 4.
[00:07:54] Universal assayability requires minimalism at the base layer A core design constraint of Bitcoin is that any participant anywhere in the world must be able to independently verify the validity of every transaction and block, past and present, without needing permission or relying on third parties. This property is called assayability, the ability to test or verify the authenticity and integrity of received Bitcoin, much like verifying the weight and purity of a gold coin.
[00:08:34] To preserve this, the base layer must remain resource light, so running a full node stays accessible on commodity hardware.
[00:08:43] Block sizes must remain small enough to prevent centralization of verification. Historical data must remain consistent and tamper evident, enabling proof chains across time and jurisdiction.
[00:08:56] Any base layer that scales by increasing throughput or complexity undermines this fundamental guarantee, making the network more dependent on trust and surveillance infrastructure. Bitcoin prioritizes global verifiability over throughput because trustless money requires that every user can check the money they receive.
[00:09:21] 5. Governance not captured, just resistant to coercion the current controversy around opreturn and proposals to limit inscriptions is instructive. Some prominent devs have advocated for changes to block content filtering. Others see it as overreach. Here's what matters.
[00:09:42] No single dev or team can force changes into the network. Period.
[00:09:48] Bitcoin core is not the source of truth. It's one implementation. If it deviates from market consensus, it gets forked, sidelined, or replaced. The economic majority miners, users Businesses enforce Bitcoin's rules, not GitHub maintainers.
[00:10:09] In fact, recent community resistance to perceived core overreach only reinforces Bitcoin's resilience.
[00:10:16] Engineers who posture with narcissistic certainty, dismiss dissent or or attempt to capture influence are routinely neutralized by the market's refusal to upgrade or adopt forks that undermine neutrality or openness.
[00:10:31] This is governance via credible neutrality and negative feedback loops. Power doesn't accumulate in one place, it's constantly checked by the network's distributed incentives.
[00:10:45] 6.
[00:10:46] Bitcoin is still in its infancy, and that's a good thing.
[00:10:51] You're not too late. The ecosystem around Bitcoin, especially layer two protocols, privacy tools, custody innovation and zero knowledge integrations, is just beginning. If you're an engineer looking for systems with global scale constraints, architectures that optimize for integrity, not speed, consensus mechanisms that resist coercion, a base layer with predictable monetary policy, then Bitcoin is where serious systems engineers go when they've outgrown the crypto theater takeaway.
[00:11:31] Under realistic market aware assumptions, Bitcoin's ossification is seen as a stability feature, not inertia.
[00:11:41] Market forces can and do demand and implement change via tested non coercive mechanisms.
[00:11:48] Proof of work is recognized as the only consensus mechanism resistant to fiat capture. Wealth concentration is understood as a temporary distribution effect during early monetization.
[00:12:01] Low base layer throughput is a deliberate design constraint to preserve verifiability and neutrality.
[00:12:10] And innovation is layered by design, with the base chain providing integrity, not complexity, then Bitcoin is not a fragile or inflexible system. It is a deliberately minimal, modular and resilient protocol. Its governance is not leaderless chaos, it's a negative feedback structure that minimizes the power of individuals or institutions to coerce change.
[00:12:38] The very fact that proposals like controversial OP return restrictions can be resisted, forked around or ignored by the market without breaking the system is proof of decentralized control, not dysfunction Bitcoin is an adversarially robust monetary foundation. Its value lies not in how fast it changes, but how reliably it doesn't. Unless change is forced by real bottom up demand and implemented through consensus tested soft forks.
[00:13:13] In this framing, Bitcoin isn't a slower crypto. It's the engineering benchmark for systems that must endure, not entertain.
[00:13:25] Final word Bitcoin isn't moving slowly because it's dying.
[00:13:31] It's moving carefully because it's winning. It's not an app platform or a sandbox. It's a protocol layer for the future of money.
[00:13:42] If you're here because you want to help build that future, you're in the right place.
[00:13:49] FYI Brunswick is a great follow on Nostr and he posts a number of there's another piece on Tether. Whatever. I'll read through some random articles from time to time and like I like what he writes. So this one in particular I just thought was such a good just a succinct breakdown of something that I know we've covered 100 times on this show before, but this one did it in like 10 minutes. And most of the pieces that we've covered in the past are hitting on like one of those topics or just are far more in depth like treatise on the idea or come at it very theoretical rather than just kind of like hitting the points home. This was a little bit more like 21 lessons like boom boom boom boom bullet point of what makes like why Bitcoin is not what it appears to be. And a important, a critical, a critical framing to understand what layer Bitcoin is operating at and why it is wholly and completely different from crypto. Like this paints the entire picture of why crypto is completely misguided in basically two pages of an article. And I think any sensible engineer can actually understand this. All they have to understand is the level of foundational importance that bitcoin is actually operating at. And it's crazy to me that how difficult it is to explain this to crypto people because there are so many projects where so much of what they do or so much of how they get a community or a base that that thinks they have the solution is by demonizing Bitcoin. And they get so invested in the fact that bitcoin has to be some terrible failing thing and they literally only get more bitter as bitcoin succeeds and their project continues to fall in relation to it to the point that they ignore basic like you can't even have a conversation with them. The number of People that can't just wrap their head around this singular analogy and why this applies to the current, to, to what Bitcoin is that TCPIP has not changed for like 30 years.
[00:16:11] And understanding that all of the complexity, all of the playing around and all of the gadgets and all of the tools and apps and everything are on top of of tcpip. I mean TCP IP doesn't even have a basic messaging system between addresses or users. It is as fundamental and as simple as it gets. Assign a device an address to distinguish them on the network and then distribute packets according to a path of addresses that allow 1, 1, 1 computer to sustain a connection to another computer. There's nothing formal or interesting or like, like there's not streaming packets, there's not message packets. It's literally generic ass data packet. There are exactly zero extra features in tcpip.
[00:17:04] This is the layer that Bitcoin is operating at. And the proof of work consensus system is a breakthrough when it comes to human organization.
[00:17:13] When we're talking about how humans are able to trust an agreement without any other party being able to influence or get in the middle of that agreement and change the terms, and we're specifically talking about maintaining that consensus in spite of political entities, in spite of religions, in spite of militaries, in spite of Palantir and Apple and Google, this is consensus alternative to political power, which means that it must be able to stand up and maintain that consensus in the face of opposition from political and corporate power.
[00:18:00] If you cannot understand why integrity and robustness and survivability are the most, are actually not the most important, the only features, the only characteristics that actually matter at that layer, then I don't know how to help you. If you think proof of stake is literally going to stand up to the United States government, that they're not just going to go knock on the Ethereum Foundation's door and all your plans for neutrality and apolitical nature, then I don't know, you have either not been paying attention to anything or you have a real rosy fairy tale idea of what the world of politics and governments really look like. But wildly, more often than not, most people have just given up on that and don't think that it's. That it's even possible or realistic and then just pretend or they advertise whenever they're having a conversation or debate about where is Solana better than Bitcoin or is Ethereum better than Bitcoin? They just pretend like that's not even part of the issue. When Every other issue matters exactly nothing at all. If the issue of political, of radical political neutrality on a global scale is compromised like nothing else matters because all of it is just dependent on who it is you have to trust.
[00:19:22] Bitcoin's fundamentally about eliminating the need to having to trust some particular person or entity.
[00:19:32] And importantly, it's designed to scale fantastically at that job, not at transactions. In fact, it trades off its ability to scale at transactions so that it can scale indefinitely in terms of trust, whereas almost universally every other project has taken the exact opposite approach.
[00:19:58] And all of them are failing because they have, they have misunderstood. The very core reason why Bitcoin is revolutionary and specifically in regards to the people in crypto, is it seems to be indicative of exactly where people think its important layer is. I think most people don't even understand who get into crypto, don't even understand that that is where like that's the thing that Bitcoin has accomplished.
[00:20:25] Most still think very clearly. In fact, when I have arguments with people, they, they act as if Bitcoin isn't like the, the government, the United States government could just say what Bitcoin is right now or that Blockstream or Bitcoin Core could just change Bitcoin and there's nothing anybody could do about it. Like, without any sarcasm, I have seen people that I have argued this debate with say that because BlackRock has an ETF where other people own Bitcoin through them and they hold a bunch of coins that somehow BlackRock now controls Bitcoin. Like, this is a serious statement from them. And all I can do is ask, please explain what is going to change about Bitcoin because BlackRock says so what is BlackRock going to come out with? When are they going to push their client? And exactly who is going to download that piece of garbage? And why would they? And even if 1000 total idiots managed to do this and run nodes, how on earth does this have any effect on Bitcoin whatsoever?
[00:21:38] Especially when some of these exact same people claim that bitcoin can't innovate because there's too much infighting. And Bitcoin Core, the reference client can't even get simple changes made if they're even slightly controversial. All entirely within the consensus rules we're talking about mempool policy, the shallowest of things to even think about worrying about. And instead we've gone from 1% knots to 15% knots clients on the network. For those of you who do not know, Knots is just an alternative client. Or in other words, Because Bitcoin Core is trying to push a very simple and very shallow, controversial change.
[00:22:19] 15% of the network has switched to a different client. Oh, but if BlackRock said so, like, seriously, where did the level of delusion.
[00:22:29] I'm just going back to the TCPIP example is like they just kind of shrug it off. Like.
[00:22:37] Like they can't even fathom. They can't even stop to consider that Bitcoin might be foundational, might be far more base layer than they think because it's just on the web. To them, it's just another. It's a different app on your phone. It operates in the space of literal websites, right? Is that, oh, we make big websites and we make platforms and Twitter updates and they update their algorithm and all this stuff. And you know, that's. That's what we got. We got Facebook, Twitter, Cash App and Bitcoin. And they're all at the same layer doing the exact same thing. And look at all the features that Bitcoin is missing. We could totally build a way better version.
[00:23:19] But if you understand the fundamental pieces of this, like, Cash App is just a way to, like Cash App, Twitter and Facebook are just different packages for the information, right? And TCPIP is just a way to distribute information on communications between computers and, you know, electronic devices.
[00:23:39] That's its purpose. It is a protocol built entirely for and only for communicating packets of data. Facebook is a central place to connect to and network that data through.
[00:23:55] Twitter is the same thing. Cash App is the same thing. And if they both or they all have their own way of packaging and formatting that information, such that Cash app is sending notes about people sending money to each other, but it isn't a money in and of itself. It's not a money protocol. It's just a bunch of messaging that goes through the Cash app servers. And Cash App does their messaging on their bank's servers, and their bank does some messaging on the Federal Reserve. They're the Federal Reserve systems servers. And the Federal Reserve just has admin control of the entire thing. But at no point is there anything other than promises.
[00:24:39] It is reliant on trust, on the word of some other institution at every layer, because all it actually does is move information around.
[00:24:51] Its enforcement is an entirely different layer. It is in the analog layer of political enforcement. The layer that the trust is derived from is the layer where energy is directly used to create batons, guns, cars, radios, buildings, costumes, and then goes to paying enforcers that literally go out into the world directly to where those people exist. And beat them over the head and put them in a cage or shoot them if they do not operate according to the rules. The enforcement of every promise on Twitter cash app in the banking system, every ach settlement a debt, all of it is enforced at that layer and it is just an extension. It's just a derivative of political enforcement of the rules.
[00:25:46] TCPIP is the protocol that fixed distributed communication.
[00:25:52] Bitcoin is the first ever protocol for distributed trust and interestingly, it uses raw energy to defend against all of the energy used for political enforcement. It exchanges the cost of the baton and of the people and the buildings and the violence and the cars for just raw electricity used to compute a wall that is built around the Bitcoin system.
[00:26:26] And if that's new to you, if you don't think of the hash rate, if you don't think of the of everybody mining Bitcoin as building a wall around Bitcoin, I'll have a link to it in the show Notes, but I urge you to watch the It's a short video and it's the, I hope the best explanation that I can do, at least at the moment, for why bitcoin mining is so important. And specifically, well, the title, as the title suggests, why is Bitcoin mining even a thing? Because Proof of work is the beating heart of why Bitcoin even exists and why it does exactly what it advertises. And importantly, it only fix fixes the Triffin Dilemma if it manages to pull that off. It literally has to be politically neutral or it doesn't solve that problem. Ethereum will never solve the Triffin Dilemma because it will never stand up to even a slight political push because of how it's designed. Because what proof of stake means and the fact that the people who are the main, the dominant stakers are still just the people who issued themselves most of the tokens at the birth of ethereum. They issued 70% of the supply out of thin air and then they got rid of proof of work. So the people with the most coins have permanent influence over exactly which chain is the consensus chain on the network. Yeah, that's going to work really well. The most important piece of solving the Triffin Dilemma is neutrality is total neutrality and hard capped. The fact that there is no authority printing it or creating it from nothing, like no individual party has any more control or any more ability to inflate the supply as any other entity. And specifically hard capped actually comes into play as well, because the only reason the dollar has such incredible demand is because it is the best of a bunch of terrible, terrible currencies, but it is actually the least inflated.
[00:28:29] However, the reason it's the dominant fiat currency is not only because of in a significant semi, significant part because of its monetary policy, but more specifically its monetary policy has less overall effect because of the incredible political and economic power of the nation. Behind was due to war that the US became the world fiat power.
[00:28:59] And there has to be some universal. There has to be some sort of a global standard, some way to interoperate. And it only makes sense in a world where everything has to be fiat because real money could not scale to digital communication. It essentially has to coalesce to the dominant fiat military power. That's it. Because otherwise again, it's. It is enforced through military action, through violent enforcement. So you can't really have a second place here. There's not really a spectrum of power. It's. There's the dominant and then everybody else is kind of subject to what that one says because they have such an order of magnitude more power than any other entity. Because they literally can make. Any entity that challenges them is necessarily because they're. Any trade that they do on an international level must be done or is essentially all done with dollars for the overwhelming majority of it. Because it's the global reserve and the global independent settlement system. It means that no one can actually challenge the US without also backing up the strength of the US purchasing power of their currency.
[00:30:17] So any dissenter in the global system is still necessarily paying for the entity they are trying to dissent from. This is why fiat always basically has a top dog that becomes world government and that's it. And there's a lot larger foundation to understanding this part of history. But World War I and World War II were not arbitrary wars caused because, you know, somebody got assassinated in World War I and because somebody had concentration camps in World War II II. It was specifically about sorting out the dominant fiat power.
[00:30:54] That was why the world wars actually existed. It was first and foremost a massive battle of money and debts. The accurate way to think about that period is the end of the gold standard and the setting of the dominant fiat power.
[00:31:13] That is really what happened in World War I and World War II when debts got so massively out of balance from the actual gold that existed. There created so much monetary friction and inability to actually reach agreement or trade between countries that the entire thing collapsed and broke into two different factions where everyone inflated as fast as they possibly could to out military the other. Because when you inflate, you steal resources that people don't realize have been scraping stolen yet. Which means that you can make war much bigger and scale much further and worse than it ever could before when you actually had to direct steal from people. Which means that if you don't do it but the person you're fighting does, you're just gonna lose. It forces everyone to scale the war at the exact same time. When there is no monetary standard to actually settle debts in, the question becomes who is actually going to have to pay the debts and who doesn't. Again, way too much of a conversation and too much history there to actually try to unpack this in one episode. But if you're interested in the monetary rabbit hole, World War I and World War II makes so much more sense structurally when you understand it as a consequence of the two greatest shifts in how the monetary system of the world works during those exact periods. Everything is about the control of capital, and money is the secret key that unlocks capital everywhere if you are the only person who can print it. But there's a massive problem with being the global reserve operator or owner. You have to run deficits. The rest of the world needs to have a way to obtain your currency.
[00:33:02] And even worse is if it's issued as debts, it creates such a potent force for demand for the currency that you can't even correct it. This is exactly why I don't think Trump's tariffs are going to have the effect that the intent is, because you still have the Triffin dilemma. You still have a structural problem that you can't band aid over.
[00:33:27] So if some a ton of the world have debts denominated in dollars, and by actually reining in the deficits, the US government makes foreign foreign currency or foreign dollars scarce, harder to obtain.
[00:33:44] Well, it means it would force the rest of the world into defaults on those loans because there just wouldn't be a large enough flow of dollars to pay those off. Which means what are they going to do well, before they actually default?
[00:33:57] Well, they're going to chop the prices of all the goods and services that they're selling to the US for dollars in half. They will devalue their goods before they take a full default and lose everything.
[00:34:10] And especially at the country level, at the political level, defaults are a very nasty thing for countries, and they're much more interested in just letting their people pay for it. In other words, tariffs to balance the trade deficit were never going to work because foreign demand for the currency will literally increase at exactly the same rate or in proportion to how much we decrease our deficits and try to return manufacturing back to the United States or back to domestic. In other words, we priced ourselves out because of the systemic imbalance. And then in trying to correct the imbalance, we actually make the balance worse and the price just corrects further in order to make sure that the imbalance stays external, that the currency keeps flowing out. And understand this is really good for the US political system in the short to medium term. And I mean short to medium term, like 50 years, 70 years. The scale at which monetary transitions occur. Monetary scales long term are 100, 200 years. Or I guess maybe you could argue kind of in the scale of shifting of, of global reserves. But when you have a systemic imbalance that starts when the new monetary reserve starts, it's hard to say it's long term because it's kind of, it's kind of guaranteed to stay in a medium term cycle. Like it's always just going to turn back over in 70 years because it's going to align with the, the global, the very, very long term debt cycle. But what's funny is all of this is just a problem.
[00:35:46] It literally exists because we are having to use money based on a singular nation state. And we essentially have to go from one nation state dominant currency to another nation state dominant currency. And there's been no technological solution to independent sound money that can globally scale in trust.
[00:36:08] Bitcoin is that solution. It's that solution that has not existed for hundreds of years and now is finally here. It actually can pull that off. And the bigger it gets, the more trustworthy it gets, the more people involved, the more robust and more resistant to change. It is like that's a, that's a crazy, crazy thing when you really think about it. And this actually alludes to my favorite line from this piece. When I was, when I was reading through it, this one hit me and I was like, man, that is a good line. I am going to you, I'm going to steal that Brunswick. I am stealing the hell out of this line from you.
[00:36:45] Bitcoin is an adversarially robust monetary foundation.
[00:36:51] Its value lies not in how fast it changes, but in how reliably it doesn't. I just really like that wording, how reliably it doesn't change.
[00:37:04] And this is why I referred to bitcoin in the mining video I referenced just a minute ago.
[00:37:10] Why does bit. Why is bitcoin mining even a thing?
[00:37:13] I refer to bitcoin as the nuclear bunker, the 50 foot thick nuclear or steel walled nuclear bunker of digital monetary Networks. And at no point, at no point can you build the basis of a global financial, monetary and economic network which understand will be the most important and foundational network on earth. There will be none more important than this. You will never build that sustainably on top of a website, on top of a move fast and break things platform.
[00:37:55] You can't have an oops, I think I killed it on the global Monetary foundation because literally, not figuratively, literally millions of people would die if you don't know what that oops, I think I killed it reference is type that line in, in reference to quote crypto history on perplexity if you want to find out. But just think about the scope of things that people even to talk, even talk about, like what will be built on top of this. Like people are talking about international exchange and trade, settling forex and equity markets, atomic swaps and oracle based smart contracts. Like we're talking about the system that organizes and allocates food and retirement and shelter and land ownership and political defensibility and the ability to move capital in defiance of corrupt or authoritarian political entities of international supply chains and cross jurisdictional organizational systems and networks of people and communities working together towards something like the economy is the means to everyone's ends and its job first and foremost is for us to all collectively work together so that we all can stay alive. And it can only actually measure and properly compare where those resources need to be to be good at that job, to actually sustainably do this at a global level.
[00:39:37] Unless you have an independent neutral global settlement mechanism, without it, the best that you can do is the most militarily powerful fiat entity basically running the show and all the problems that come with that.
[00:39:54] Now tell me again, convince me that you're going to build the base of the entire global financial past, present and future system of allocating retirements, of ensuring that food makes it to where it needs to be and specialize allows people to specialize on a global scale across jurisdictions, across authoritarian regimes and against and insurance spite of all the different cultural, religious and moral values of everyone in the world. How you're going to do that on the back of a web development mentality and if you're still sold on it with, you know, whatever your favorite proof of stake coin is, then I guess that all is in order is good luck. But I'll tell you right now it's not. You don't invest in it, don't put your savings in it. Because when we're talking about the infrastructure for coordinating the world's essentials Nobody cares about fancy jet skis, they want the nuclear bunker. And especially in times of political turmoil and chaos, people run to certainty, not hype. And features Bitcoin's value, which is slowly being realized is its degree of of certainty. But hey, what do I know? Shout out to Brunswick for this article. Link to his impub so you can follow him and to the article so you can zap. Don't forget to check out the Financial Freedom Report from hrf. There is a crazy story about Google partnering with the Turkey government demonstrating just how powerful their ability to censor is. I have a link to that in the show notes. And don't forget to check out pubkey as well. That is Pubkey P U B K Y app is a brilliant new design and system in the fight for digital freedom and owning your own digital world. It'll all be in the Show Notes. Until next time, I am Guy Swan and that is my two SATs.
[00:42:12] I would have to create a system with common rules that would be acceptable to everyone.
[00:42:17] That meant as close as possible to no rules at all.
[00:42:22] Tim Berners Lee from Weaving the the Original Design and Ultimate Destiny of the World Wide Web.
