At $67k, the unrealized loss in the market equals ~19% of the market cap. Current market pain echoes a similar structure seen in May 2022.
📉https://t.co/0aCIeujEfp
Michael Saylor's answer to "What is Money?":
1) Money is the highest form of energy that humans can channel.
2) Money is energy; a monetary system is an energy system.
3) A monetary system moves energy through time and space.
4) The laws of thermodynamics state that energy can neither be created nor destroyed; it can only be transformed.
5) When designing a system, engineers understand that there is no such thing as a free lunch. Engineers design systems with the laws of thermodynamics in mind, but economists do not.
6) Economists, lawyers, and politicians are in charge of the monetary system and money supply, not engineers. Given that money is energy and a monetary system is an energy network, it may be better for an engineer to be in charge of the monetary system.
7) The creation of #Bitcoin was the first time that anyone had figured out how to engineer a monetary system.
8) Satoshi was a multi-faceted engineer who combined several engineering disciplines, computer science, and Austrian economics in his creation of Bitcoin.
9) A system without stability will ultimately collapse. Bitcoin is an appropriately engineered monetary system that follows the laws of thermodynamics.
10) It is critical to standardize the rules of money so that every person plays by the same rules.
11) When the money is broken, the system bleeds several trillions of dollars in value each year.
12) Broken money can persist for some time if the ruler has enough raw power, but over time, the economy in which that money is used will collapse.
13) When money works perfectly, it is economic energy. But when it is captured by politics and becomes corrupted, it becomes imperfect energy. Money becomes corrupt when corrupted leaders begin to debase it.
14) The recipe of virtue in a monetary system is to plug it into nature; proof-of-work mining subjects #Bitcoin to the virtues of nature. It is a base-layer protocol upon which a civilization can be built.
Fix the money, fix the world. #Bitcoin is hope.
Complete @podcastnotes with key takeaways from @saylor's series with @Breedlove22 are below.