Bitcoin: Independence Reimagined Summary | Bitcoin Infinity Academy #29

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Welcome to the Bitcoin Infinity Academy. This is the last episode of our series on Bitcoin Independence Reimagined, my second book about Bitcoin.

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And in this episode, we'll wrap the whole thing up and talk about the book as a whole and how this experience has been for me and Luke.

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I'm Knut Svanon, by the way, and with me, as always, is Luke DeWolf. Good morning, Luke.

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Good morning, Knut. Happy to be here. And yep, capping off Independence Reimagined. Looking forward to summarizing everything and what we have coming up next.

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yes what did you think about this book luke i mean i've forced you to read it a couple of times now

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once in the uh i think you read it before we met though if i remember correctly and uh of course we

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re-edited the book together uh and you helped me out a lot with that so so you've read it a couple

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of times now like what are your thoughts about this book yeah overall i think it's stronger than

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sovereignty through mathematics in terms of the ideas. I think sovereignty through mathematics,

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of course, had some major things that kind of kicked, started you and all the ideas that go

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into it. But of course, this has the one-shot principle and just a lot of, you didn't hold back

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at all in this book. It's a little more toxic for sure. Lots of idea embryos, I think we said,

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things that come up later in the future books, everything divided by 21 million, and then

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especially the inverse of Clown World. Yeah, very, very much still a good readable book. A few things

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that are a little like snapshot in timey, but yeah, overall, definitely still great to read.

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And I mean, now we have the entire book out on Noster for free. So it's great. More information

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going more places. I think that's the whole idea. So and actually, this means sovereignty through

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mathematics and independence reimagined are both available now for free and if you want to support

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us you can you can buy the the physical books or whatever but the information is there read it

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share it it's great i mean we would do the academy even if we didn't record it i think because we

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have so much fun just talking about these ideas and uh yeah i'm i'm very proud of the book i i

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think it's one of the more based ones it's like like you say it's not holding back it's kind of

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toxic unapologetically austrian and uh yeah the the there are the similarities to to the price of

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tomorrow is are are also a thing to mention here there i i am very happy that uh those two books

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are alike because i really like the price of tomorrow and and no wonder jeff and i befriended

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one another after after having like re-examined this and how how much we we thunk alike back in

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back in 2019 or 2020 this is from 2020 sorry no it's great and uh so now i think we'll just go

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through the uh we've got the table of contents up here and we'll just go through each chapter and

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give a give a quick recap so we we start off with the fiction and reality chapter what's that about

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well we actually we start earlier than that we start with the foreword because that's the thing

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we never read on the show.

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And the foreword to this book is written by

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none other than Mr. Cat,

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also known as Hadlonaut

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and also known as Magnus

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these days. He doxed himself

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and he's now putting out

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a lot of good Norwegian content.

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So if you speak

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Norwegian or Swedish, you can listen

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to our three-hour

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conversation on the

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Granatprat

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Magnus'

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Norwegian pod.

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I did this like last week or something, and we had a very good conversation, as we always do.

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He's a dear friend, and the foreword is great still.

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But as you say, the first chapter is fiction and reality.

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It talks a lot about the word intersubjectivity, for instance, which is a thing that one of our enemies, Yuval Noah Harari, talks about a lot.

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one of his

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better ideas

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I think is the

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emphasis on

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intersubjectivity I think intersubjectivity

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is what separates

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humans from

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the

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animal kingdom some would say

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purposeful action is the deeper thing

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and yeah some would agree with that but

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intersubjectivity

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I mean nation states

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money religions all of

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these things are really collective figments of our imagination that unlock ways of treating

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one another that may unlock new things for humanity.

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And that's a very interesting topic.

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Very good.

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And yeah, it's definitely interesting to think about the different kinds of realities that we have.

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And I think this goes back to a little bit of that everything is subjective, value is subjective, all of this.

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Important concepts to think about.

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I don't think I have a whole ton to add here, though.

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No.

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So the next chapter we have is cooperation and coercion.

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And I think this one has some of the more based content get started here.

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Yeah, this is basically backtracking to Bastiat versus Marx, right?

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And catalactic versus biological competition, which is a reoccurring theme in all my books.

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How humans have two basic means of resolving conflict.

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One is communication.

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The other is violence.

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and some people have a hard time distinguishing between the two

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because they think taxes and inflation are non-violent

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which they are not

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there are veiled threats of violence everywhere

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in left-wing schemes and even right-wing schemes by the way

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All politics has a part of every political decision is always violent, since they all have to be funded by stolen goods.

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Yes, and well, I saw a good Michael Malice quote or tweet or something like this that was like, anarchy is not chaos, it is order through cooperation.

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And it's great. It's great to kind of understand that framing, right? That the whole point of aiming for no state, no monopoly on violence is not to have a world that is completely chaotic. It's that we build the order around us in an organic way through everyone deciding to cooperate together.

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So it's not order as in everything is the same, right? But you get this organic, fractal-ish even type of order that emerges naturally and is going to be much more, ironically, much more diverse in terms of the actual implementation and I think flourishing and fruitful.

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Like anything that tries to force itself on, like the forced diversity, right?

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I think you would get diversity through anarchy much better than having it forced.

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You know what I mean?

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Absolutely.

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And especially diversity of ideas rather than superficial traits like skin color or sex or sexual preference or anything like that.

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But also, like, the communication way is the civilized way.

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the coercion way is the barbaric way

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and like this is a

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sort of a battle cry for people to

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understand that

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and yeah

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very good next one up is

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why collectivists win

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so what was that about Knut?

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yeah it's

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it's

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in the same vein as Hoppe's

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Democracy the God that Failed

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daring to point out the

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flaws of democracy

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and this specific chapter my take on that is slightly different the the basic idea that i

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try to convey in this chapter is that uh democracies favor collectivism simply because

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of the fact that collectivists naturally form larger groups than individualists do

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because individualists care more about the ideas than belonging to the certain a certain group

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while collectivists care less about ideas and more about belonging to a certain group.

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So the more freedom-minded people are, the more fractioned they will be as political parties,

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and the smaller the political parties will be.

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Which you can clearly see in all democracies.

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It's always, at least in Europe, you often have a big blob of left-wingery on one side,

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maybe left-wingers and commies and greens,

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And then on the other side, you have liberals and conservatives and Christian Democrats and, you know, national right-wing parties and even more nationalistic right-wing parties.

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It's fragmented.

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And then libertarians and anarcho-capitalist parties, whatever that means.

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The point is, the more freedom-oriented one side of the aisle is, the more fragmented it will be.

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and the more collectivistic minded people will all flock to the bigger party.

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Therefore, democracies inherently favor collectivism, which is super dangerous, of course.

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Yeah, this was a fantastic point.

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Very good chapter, very good idea to grok for sure,

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because, yeah, it really shows how absurd democracy is.

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And again, you go back to the Churchill quote, right?

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Like it's the worst system except for all the others, something like that.

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That have been tried, yeah.

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Yeah, and I think it holds true, right?

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It's definitely, it's enabled the flourishing of the 20th century, the early 21st century.

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And I know how you're going to push back on that.

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We can't know how it would have been if we did something else.

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But counterfactuals are dumb, so stop.

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preemptively

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but no no

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it definitely shows that

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pretty much the

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these two party systems just going

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back and forth the uniparty basically

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it's you can't actually

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you don't get with democracy what it advertises

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and so

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coming back down to the

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whole

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banding together out of cooperation

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and using systems that take the power out of

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the collectivists basically

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the ones who want to coerce you

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these two chapters worked very well together

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actually like one after the other

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it's very good

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ideas building on each other

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the coercion is bad and the collectivists

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want to coerce and so it's

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very very good ideas to

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grok definitely

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yeah and democracy

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and democratic parties are very

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good at taking credit for

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stuff that they didn't necessarily

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do they claim that

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we have all this flourishing and this

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beautiful civilization where everything gets cheaper because of them but it's in reality it's

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more like despite of them and yeah i i highly recommend democracy the god that failed and every

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other hopper book for that matter uh he's much better at explaining these things and why monarchies

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uh perhaps actually were better than democracies it's just that we we have a hard time seeing that

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because we're we're told that democracy is the end all be all in schools and stuff let's see if

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our friend prince philip can get the monarchy going in serbia again yes uh yeah

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keep up good fight yeah yes yes exactly uh the next one is a tale of two richards that's uh

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richard simmons and richard the lionheart right of course it is no it's actually richard nixon

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and Richard Cantillon, who lived 300 years before Nixon.

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And it's bashing Nixon maybe a bit too hard here

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because I say that everything is his fault, basically,

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when it more the fault of the decision he was sort of forced to make because the money printing started before him but nixon is the president that finally uh severed the the connection between the the us dollar and gold in 1971 effectively meaning that

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the the federal reserve in the u.s can print money and buy stuff from other countries with it

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which is just fucking amazing when you think about it that the whole fucking world oh i'm

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swearing too much the whole damn world uh fell for it for so long and are still still falling

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for it for to this day they can print oil and make everyone else pay for it it's it's truly

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regarded yeah definitely and i mean it's it's a it's it's still a very good illustrative chapter

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and i think the framing completely works if anyone isn't aware before reading this what

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the Cantillon effect is and what the fuck happened in 1971.

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Yeah, this is a very good primer.

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And I mean, I think you have to go back to basically the Fed,

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the creation of the Fed to get to the origins of what Nixon was forced to do.

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But, you know, he otherwise was a pretty swell guy, though,

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as far as I understand.

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I mean, he did a bunch of spying and he killed a whole bunch of Vietnamese.

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And so those things were both good.

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and his right hand man was one of the worst

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mass murderers in history

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yeah I was being very sarcastic

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anyone listening

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so but

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I think it is completely

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unfair to say that he

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kicked

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off the money printing

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because that's not true

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but he did facilitate

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the graphs all going

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insane all at the same time

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which is anyone who

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doesn't see that anymore and gets it pointed out to them is blind yeah and uh some would even say

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that the starting point was for the bank of england in 1911 right like uh uh if i'm now now

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anyway so that's the cantillon effect it effectively funnels wealth from the poor and the middle

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classes into the hands of the elites because it favors people who own assets at the expense

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of people who don't.

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So it's taken from the poor and given to the rich.

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And it's awful.

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And funnily enough, those who claim to be caring for the poor are usually the ones that want

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more of the Cantillon effect and they want countries to spend more and save less.

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anyway we go to the next chapter which also ties in neatly poverty and prosperity which is basically

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about how you can't fight poverty by hindering prosperity there are they are two sides of the

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same coin the default mode of a human being born into reality is poverty and we can only get out

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of that by becoming more prosperous so punishing people for being prosperous is counterproductive

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to say the least don't you agree luke yes definitely i mean the this is kind of the

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the steven pinker thing is where i go here like how how things are actually good right like a

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deceptively good because the the whole point is that that we've we've eradicated almost completely

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eradicated all of these uh uh the source of of abject poverty like that's gone down and down and

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down technological advancement so we are doing it but we have to we have to go even further with it

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right that's that's how we get the world out of like it's it's it's it's what you said earlier

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it's despite you know democracy and the cantillon effect and everything and it's almost it's almost

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like marvelously mind-boggling that we actually we actually are capable of the world improving

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despite all these things pushing back against it basically right yeah everyone underestimates the

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beautiful power of the free market it's so strong and it's so powerful so it's sort of like an

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asphalt flower you know blooming through the asphalt of collectivism and authoritarianism

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and just not giving a now i'm about to swear again giving a fuck about uh what they're what

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they're trying to do about it no but like i think i think the thing there is that another case of

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what the leftists get wrong right the the point is not to try to force things to get better through

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redistribution right because that's that's their whole thing they see that there is poverty and

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inequality so you might you must have to take from the rich people to to uh get to and give it to the

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poor people and everything whereas the first of all just not doing that would be better and second

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of all, getting rid of the money printing would be even better than that, right?

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Get rid of the candlelight effect.

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Yes, because that's the bigger villain here in this story.

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Like, taxes are bad, but inflation is the real hidden force that funnels everything

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into these so-called elites' hands.

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And here, once again, I'd like to recommend Hans-Hermann Hoppe.

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He's very good at explaining all of this in all his book, and he's got a very good lecture

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where he debunks Pinker.

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Not the poverty part of Pinker's theories,

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but Pinker also says that we now all live in peace.

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There are almost no wars.

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And Hopper points out, yes, but it's peace under gun threat.

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He leaves out the fact that we're all being stolen from at all times.

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So I highly recommend that.

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Absolutely.

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So next up is power to the people.

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what was that chapter about

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that is about like power to the people

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is also a leftist slogan

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that should actually be more

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like if we all adopt

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bitcoin we're all better off

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like the thing is we believe

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that we live, that the economy is some

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type of zero sum game

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and that someone

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has to lose for someone

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other person to gain which is

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which is very

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wrong

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if we had sound money we would see that cooperation benefits everyone because everyone would be better

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off if prices were falling all the time and they would be and they already are if you're

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denominating bitcoin and you zoom out and your time horizon is is is a bit further into the

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future then you can clearly see that your house and your car and everything in your life is dropping

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in price every year or at least every five years since Bitcoin's number go up technology

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comes in cycles.

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But it's definitely trending in that direction.

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And that's what the free market is deflationary.

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This is one of the Jeff Booth points.

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And our monetary system ought to reflect that.

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And Bitcoin is the first one that actually represents that.

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even stable prices would be stealing since that would require you to print more money and you

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wouldn't see that prices actually ought to drop everywhere forever yeah i mean i i think this one

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is is of course the the parallels to to the price of tomorrow and and just the thesis that everything

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should be dropping i think i think once you get that it's it's one of those bells that can't be

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unrung you know it's it's you just you see the world completely differently and that's that's

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pretty much it so i'm uh i'm very much uh all for uh aiming for that to to continue so all right

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next one is slowly then all at once uh i think i can guess what this one was all about i actually

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i remember all of these but you know i'm asking you to explain that yeah was it parker lewis that

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uh popularized that term i term i think gradually then suddenly is i think the the way he puts it

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but slowly than all at once is another way to say that.

286
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Yes, exactly.

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Heinz Ketchup thing.

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Yeah.

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Look at, you know, Time Chain Calendar or Clark Moody

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or any of these sites where you can see the Bitcoin blockchain

291
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and what's going on or the time chain.

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You can see that more than,

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or almost 97% of all the Bitcoin that will ever exist

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have already been mined.

295
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So the thesis is that everyone underestimates

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the upcoming sat squeeze.

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No one, since humanity is so bad at understanding exponentials, everyone underestimates how rare these things really are and how rare they will be into the future.

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We actually started to cover that a little bit in the previous episode on laws and effects, this sort of glossary of this and that, when it came up with basically the Metcalfe's law and how networks grow.

299
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And this ties into the power law idea.

300
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So let's actually take a second on this. And this is basically why I think it's wrong. And I think why you think it's wrong and etc, etc. The thing is, the growth by power law appears to be mimicking the growth of networks, right? The growth of any kind of essentially biological network follows one of these so called power laws. It's just a function. It's nothing unique to Bitcoin. But anyway,

301
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There's a great Veritasium video about that, by the way. It was pretty recent. So if you want to know about the power law.

302
00:22:37,770 --> 00:23:01,850
Yeah, yeah, yeah. And well, so the thing it just the power law ignores, it's entirely observational. It doesn't take into account anything about the properties of Bitcoin at all. It's literally just looking at charts, right? And so the thing that that gets wrong is the sat squeeze part. And I mean, we might be here in the very end of 2025 thinking, hey, we haven't had a blow off top this cycle, blah, blah, blah.

303
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and and i mean it it doesn't mean that this thing is going to pop off uh like uh on on clockwork

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you know what i mean the the four-year cycle i'm pretty i'm pretty thinking that that's not really

305
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real anymore it's it's really just a large coincidence that we had the having every time

306
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and that coincidence that coincides with a new u.s president and blah blah blah uh but i don't

307
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think the four-year cycle is a real thing ultimately but we we keep on just having these

308
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periods of time where where everything stays the same and then suddenly there's the blow-off top

309
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you know what i mean and uh our god candle is waiting our omega candle is waiting you know

310
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yes as our friend and guitarist samson likes to say omega is coming so uh the the power law

311
00:23:50,290 --> 00:23:56,570
is probably wrong, but wrong directionally,

312
00:23:56,730 --> 00:24:00,290
in the opposite direction of how people think it is wrong,

313
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because they think the price movements will be smaller

314
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than what the Prower law predicts,

315
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but they might actually be way bigger.

316
00:24:10,350 --> 00:24:12,690
I certainly think it will be, eventually.

317
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We'll see how long.

318
00:24:14,010 --> 00:24:15,590
Again, slowly than all at once,

319
00:24:15,930 --> 00:24:17,770
we don't know when suddenly will happen.

320
00:24:17,770 --> 00:24:35,970
No, and this is also foreshadowing a later chapter, like the always up point and the one shot principle, because the inevitable conclusion is at the top of one of these cycles, we go into hyperbiconization.

321
00:24:35,970 --> 00:24:45,610
like it doesn't stop like there is a final cycle where the ngu doesn't stop it ngu number go up

322
00:24:45,610 --> 00:24:54,490
morphs into number go absolutely bonkers and all fiat dies uh so ngab and and i'm looking forward

323
00:24:54,490 --> 00:25:01,790
to that a lot absolutely i am as well the next one is violence and silence so what was that about

324
00:25:01,790 --> 00:25:14,370
Yes, this chapter was about politics, like on both sides of the political aisle, wanting to silence one another more and more.

325
00:25:14,570 --> 00:25:22,930
And also how these CBDC-like tendencies come creeping in when banks ask you what you need your money for.

326
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And it's always, you know, disguised with a help the children sticker.

327
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and there's more and more of that

328
00:25:31,590 --> 00:25:35,830
and in parallel we develop more and more freedom technologies

329
00:25:35,830 --> 00:25:38,110
such as Noster meanwhile

330
00:25:38,110 --> 00:25:41,350
but the latest one I've seen now is

331
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if we tie this to current events

332
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is the 16 year age limit

333
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or you need to be 16 years to use social media in Australia

334
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and you have this slimy Australian politician

335
00:25:57,970 --> 00:26:00,870
saying this on social media,

336
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which is sort of like a toast to your man on alcohol

337
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or doing a line of coke to celebrate your war on drugs Except he doing it publicly so everyone can see the hypocrisy It not about saving the fucking children

338
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It's about them gaining more and more control

339
00:26:21,740 --> 00:26:24,500
and this financial surveillance everywhere

340
00:26:24,500 --> 00:26:28,440
where all your transactions are tracked.

341
00:26:28,620 --> 00:26:31,000
I mean, every time you use a debit or credit card,

342
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you are being watched by the bank.

343
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So Bitcoin is the...

344
00:26:36,800 --> 00:26:42,400
This is, it's all, like, a lot of this book is about these two, these dichotomies, like

345
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poverty and prosperity, fiction and reality, cooperation and coercion.

346
00:26:46,160 --> 00:26:51,260
It's about dualities, and all of them are basically the which way Western man meme, where

347
00:26:51,260 --> 00:26:56,980
one of the roads leads to a dystopian dark castle, and the other one leads to flowers

348
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and rainbows and stuff.

349
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So, and this chapter is about that, too.

350
00:27:01,980 --> 00:27:08,920
We can either go the CBDC route and use more and more fiat and get more and more surveyed, or we can go the other way.

351
00:27:10,420 --> 00:27:16,540
Yeah, and well, I think the Australia example is quite in the news right now, of course.

352
00:27:16,760 --> 00:27:29,440
And the EU is looking like their watered down chat control is basically that they would put age verification on all social media and supposedly even also on these chat apps as well.

353
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And the age verification isn't actually the issue from as I see it.

354
00:27:34,600 --> 00:27:38,260
It's that you have to put your ID to all of your social media accounts, basically.

355
00:27:38,380 --> 00:27:43,320
So it gets rid of real anonymity, because even if you are anonymous to the world,

356
00:27:43,720 --> 00:27:46,640
someone in the back office there somewhere can say,

357
00:27:46,920 --> 00:27:50,800
oh, hey, this NIMH is actually this and that person sometime, right?

358
00:27:51,260 --> 00:27:54,480
Even if they say they're not storing it, I don't believe that for a second.

359
00:27:55,140 --> 00:27:56,640
No, it's super dangerous.

360
00:27:56,640 --> 00:28:02,340
you're like the the people you want to be the reason you would want to be anonymous in the first

361
00:28:02,340 --> 00:28:09,040
place are these institutions like those are the ones that you don't want to know who you are because

362
00:28:09,040 --> 00:28:15,400
like it this will kill whistleblowing for instance like if there's if there's a higher risk that you

363
00:28:15,400 --> 00:28:20,740
will be financially punished for saying this or that then that thing will happen you will change

364
00:28:20,740 --> 00:28:27,260
your behavior it's it's terrorism literally like you're scaring people into behaviors that they

365
00:28:27,260 --> 00:28:33,040
would otherwise not have adopted uh it's and it's super dangerous so and the only way out is

366
00:28:33,040 --> 00:28:40,560
all the freedom tools and just stop caring what they what they tell you yes absolutely a funny

367
00:28:40,560 --> 00:28:48,560
side to this though is when twitter uh basically started to release the locations of accounts and

368
00:28:48,560 --> 00:28:55,040
this might be slightly controversial here, but I actually liked them doing that because the thing

369
00:28:55,040 --> 00:29:00,680
was, it was supposed to reveal all of these accounts that are pretending to be American or

370
00:29:00,680 --> 00:29:06,080
whatever, but they're actually from India, Nigeria, something like this. So there is a point to

371
00:29:06,080 --> 00:29:12,000
transparency, but the thing is, there's a limit to it as well. Like there's, I think there's

372
00:29:12,000 --> 00:29:17,920
absolutely nothing wrong with the social media platform saying, here is where this person is

373
00:29:17,920 --> 00:29:24,880
coming from. And country is a big thing as well. There were some people who were very much up in

374
00:29:24,880 --> 00:29:28,940
arms about that revealing the location of someone could put them at risk and all this.

375
00:29:31,060 --> 00:29:37,660
It's a trade-off, but I think that was actually a good move because it reveals all of the people

376
00:29:37,660 --> 00:29:43,900
that are trying to scam everyone else, right? No, and first and foremost, it was the decision

377
00:29:43,900 --> 00:29:50,860
of that company in this case x and this is the key point uh as long as it's done voluntarily i mean

378
00:29:50,860 --> 00:29:56,880
not your not your social media platform not your rules that's how it should work not your keys not

379
00:29:56,880 --> 00:30:04,180
your coins not your property not your free speech laws like you uh whoever owns the platform

380
00:30:04,180 --> 00:30:11,040
it can and should dictate the rules on that platform and if you let the free market do its

381
00:30:11,040 --> 00:30:16,820
thing, then there will be a market, there will be demand for a social media platform that does not

382
00:30:16,820 --> 00:30:24,080
dox your identity or location and lets you say whatever the F you want. So, yeah.

383
00:30:24,660 --> 00:30:29,540
All good. So the next one is mainstream mediocrity. What was that about?

384
00:30:30,200 --> 00:30:35,360
Yeah, this is another chapter bashing left-wing ideologies. It's about how you can't,

385
00:30:35,360 --> 00:30:38,860
It sort of plays into the poverty and prosperity thing.

386
00:30:39,380 --> 00:30:42,460
Yeah, like the mainstream, the middle of the bell curve people,

387
00:30:42,940 --> 00:30:45,100
the ones that AI will replace,

388
00:30:46,840 --> 00:30:49,760
that's the most dangerous thing.

389
00:30:49,760 --> 00:30:58,140
Because if you give in to all these conformist tendencies

390
00:30:58,140 --> 00:31:00,060
of left-wing politics,

391
00:31:00,180 --> 00:31:03,480
what you end up with is everyone being mediocre everywhere.

392
00:31:03,480 --> 00:31:05,360
and

393
00:31:05,360 --> 00:31:08,380
what you want in society

394
00:31:08,380 --> 00:31:10,660
is excellence

395
00:31:10,660 --> 00:31:12,660
and you want remarkable

396
00:31:12,660 --> 00:31:14,920
people to be able to change

397
00:31:14,920 --> 00:31:17,040
the world because they are the ones that do

398
00:31:17,040 --> 00:31:18,740
they are the ones in this famous

399
00:31:18,740 --> 00:31:20,360
Steve Jobs speech

400
00:31:20,360 --> 00:31:23,100
and if you put a dampener

401
00:31:23,100 --> 00:31:24,520
on that you never get anywhere

402
00:31:24,520 --> 00:31:24,860
so

403
00:31:24,860 --> 00:31:28,880
another chapter about how

404
00:31:28,880 --> 00:31:30,260
regarded

405
00:31:30,260 --> 00:31:32,200
left-heartedness is

406
00:31:32,200 --> 00:31:46,140
Yeah, absolutely. And I mean, for all the people who are mad about Elon, like there are some tweets going around that he's going to be the primary shareholder of, I think it's $3 trillion companies here shortly.

407
00:31:47,420 --> 00:31:54,660
Maybe that's, oh, maybe it's that XAI is also getting the trillion dollar valuation here shortly, something like that.

408
00:31:54,660 --> 00:32:02,960
So it's Tesla, SpaceX and XAI separately, which, yeah, it's and people are up in arms about that, that there shouldn't be trillionaires.

409
00:32:03,060 --> 00:32:08,160
You know what I mean? And it's well, first of all, he's only a trillionaire because of the inflation.

410
00:32:08,380 --> 00:32:14,300
Like he would have been a billionaire 20 years ago. He would have been a millionaire only 100 years ago.

411
00:32:14,300 --> 00:32:22,600
You know what I mean? But the the but then the other thing to it is that he's providing immense value to the world.

412
00:32:22,600 --> 00:32:31,580
And so what of it? Like, it's not like it's not like him having the shares in that company makes what that company does less valuable to the world. Right.

413
00:32:31,580 --> 00:32:38,620
No, and he has the monetary power to resist political interventionism.

414
00:32:38,880 --> 00:32:41,200
And that's a good thing for the world.

415
00:32:41,980 --> 00:32:54,420
Sure, he has made most of his money because of the Cantillon effect and because of artificial interventionisms in the markets, such as electric car subsidies, for instance.

416
00:32:54,760 --> 00:32:56,680
Elon made a ton of money out of that.

417
00:32:56,680 --> 00:32:59,260
But I find him as a good litmus test.

418
00:32:59,840 --> 00:33:04,100
People's reaction to Elon is always reverse of what they should have been.

419
00:33:04,180 --> 00:33:09,180
Whenever Elon does something bad, everyone cheers for him, like the electric cars thing.

420
00:33:09,440 --> 00:33:15,100
And whenever he does something good, the people are upset with him, like the doge thing.

421
00:33:16,020 --> 00:33:20,800
But right now, what he's doing with X, it's just great.

422
00:33:20,880 --> 00:33:25,040
Because you know what the difference between the EU and X really is?

423
00:33:25,040 --> 00:33:33,720
x is voluntary the eu is not and people seem to forget that uh yeah i'd much prefer a trillionaire

424
00:33:33,720 --> 00:33:40,520
to take care of things than any politician because at least the trillionaire has something to show for

425
00:33:40,520 --> 00:33:46,900
himself uh the politician does not all they did was win a popularity contest and if we're talking

426
00:33:46,900 --> 00:33:54,040
eu bureaucrats they didn't even do that very well put all right the next one is protection from what

427
00:33:54,040 --> 00:34:03,460
what was that about knut yeah this is also about uh how like politicians always wrap things in

428
00:34:03,460 --> 00:34:07,780
that you need to be protected from this and that and you need social security

429
00:34:07,780 --> 00:34:15,001
banks need to be protected from bailouts there are so many problems in society that stem from this

430
00:34:15,001 --> 00:34:20,400
and stem from uh the the urge for there to be a free lunch and the urge for everything to be

431
00:34:20,400 --> 00:34:21,960
safe and

432
00:34:21,960 --> 00:34:24,740
what comes to mind is that

433
00:34:24,740 --> 00:34:26,001
meme of the

434
00:34:26,001 --> 00:34:28,760
zoo tiger who's bleak

435
00:34:28,760 --> 00:34:30,640
and grey and gets his three

436
00:34:30,640 --> 00:34:32,700
free meals a day and is

437
00:34:32,700 --> 00:34:34,501
totally depressed and then you have the

438
00:34:34,501 --> 00:34:36,180
roaring lion on the savannah

439
00:34:36,180 --> 00:34:38,481
that thrives

440
00:34:38,481 --> 00:34:40,660
despite him not being

441
00:34:40,660 --> 00:34:42,680
fed by anyone but having to take care

442
00:34:42,680 --> 00:34:44,860
of his own life completely

443
00:34:44,860 --> 00:34:46,740
I don't think any

444
00:34:46,740 --> 00:34:48,120
human being

445
00:34:48,120 --> 00:34:52,940
can be happy in a total dependency situation.

446
00:34:53,200 --> 00:34:55,300
Of course, there are differences between people

447
00:34:55,300 --> 00:34:58,320
and some people crave leadership more than others.

448
00:34:58,640 --> 00:35:01,120
And there's nothing wrong with leadership or hierarchies

449
00:35:01,120 --> 00:35:03,160
as long as they're voluntary and consensual.

450
00:35:04,080 --> 00:35:11,400
But the extent to which governments suppress people

451
00:35:11,400 --> 00:35:13,041
who would really want to be free

452
00:35:13,041 --> 00:35:15,600
rather than run in their little rat races,

453
00:35:16,220 --> 00:35:17,200
it's just enormous.

454
00:35:17,200 --> 00:35:25,940
And I think we'd all be better off if we all stopped caring so much about what they think about us and took matters into our own hands more.

455
00:35:27,200 --> 00:35:28,460
Yep, absolutely.

456
00:35:28,740 --> 00:35:38,140
Well, and I think the whole thing there is that it's, again, these systems that have good intentions, but just completely have the opposite effect.

457
00:35:38,400 --> 00:35:45,380
Like if people needed to save for their own retirement instead of relying on the government, they would do so, right?

458
00:35:45,380 --> 00:36:02,380
And yeah, taking out the guardrails on the economy might have resulted in some boom and busts actually happening, but that clears out all of the bad behavior and everything would come to eventually to a shelling point of reasonableness.

459
00:36:03,380 --> 00:36:08,920
The booming and busting is made worse by the Keynesian economics, not better.

460
00:36:09,820 --> 00:36:12,660
So it's, yeah, all good.

461
00:36:12,660 --> 00:36:21,100
and it's all predictable if you know your first principles like it's all predictable right okay

462
00:36:21,100 --> 00:36:25,900
the next one is the the one-shot principle and and the always up point but the the one-shot

463
00:36:25,900 --> 00:36:32,120
principle is the i think the thrust of this one here yes this is the most famous quote from this

464
00:36:32,120 --> 00:36:39,260
book absolute mathematical scarcity in a sufficiently distributed decentralized system

465
00:36:39,260 --> 00:36:41,260
was a discovery rather than an invention.

466
00:36:41,740 --> 00:36:43,240
It cannot be achieved again

467
00:36:43,240 --> 00:36:46,180
by people aware of this discovery

468
00:36:46,180 --> 00:36:47,541
since the very thing discovered

469
00:36:47,541 --> 00:36:49,900
was resistance to replicability itself.

470
00:36:50,460 --> 00:36:51,561
I think I got it now.

471
00:36:52,160 --> 00:36:55,300
I had a hard time memorizing it for a while,

472
00:36:55,400 --> 00:36:58,380
but it's by far the most famous quote from the book.

473
00:36:58,820 --> 00:37:00,760
And it sort of summarizes

474
00:37:00,760 --> 00:37:03,420
why shit coins are shit and why Bitcoin only.

475
00:37:03,940 --> 00:37:05,720
Either this works or it doesn't.

476
00:37:05,840 --> 00:37:09,061
Either we have a finite number on the internet

477
00:37:09,061 --> 00:37:11,220
that we can all agree is money or we don't.

478
00:37:12,780 --> 00:37:15,180
Yeah, and it also highlights the point of that

479
00:37:15,180 --> 00:37:18,240
we really do only get one try, right?

480
00:37:18,400 --> 00:37:22,021
Like if we do get Bitcoin into a place

481
00:37:22,021 --> 00:37:23,860
where it no longer functions as money,

482
00:37:24,240 --> 00:37:25,700
that's the end.

483
00:37:25,820 --> 00:37:27,541
We lost this one.

484
00:37:27,981 --> 00:37:31,541
And that's why all of the kind of other current things,

485
00:37:31,541 --> 00:37:35,320
not to make this too into the weeds of what's going on

486
00:37:35,320 --> 00:37:37,460
on Twitter and in Bitcoin politics and all this,

487
00:37:37,460 --> 00:37:52,740
But it's very, very much a difficult thing to see lots of kind of shitcoinery behavior coming onto Bitcoin and financial institutions kind of moving their way in there.

488
00:37:53,760 --> 00:37:58,620
The whole idea of anti-fragility, I think, is misunderstood in the Bitcoin community.

489
00:37:58,740 --> 00:38:06,260
The anti-fragility isn't in that the system exists and it's always going to be resilient to everything.

490
00:38:06,260 --> 00:38:11,481
it's that the individuals that are a part of the network have to be vigilant to threats to the

491
00:38:11,481 --> 00:38:18,180
network to be able to deal with them and there are large proportions of the the network users that

492
00:38:18,180 --> 00:38:23,860
that seem to think that that is not the case or that for example that just because something is

493
00:38:23,860 --> 00:38:30,240
the way it is now that we just have to live with it right like it's not the case that we that every

494
00:38:30,240 --> 00:38:35,460
type of Bitcoin transaction that is currently valid must be valid going into the future,

495
00:38:35,960 --> 00:38:41,640
right? The network can make a decision to say that this type of thing is being abused,

496
00:38:41,640 --> 00:38:48,840
and we should not let that happen anymore. That is valid. And it might be necessary in order to

497
00:38:48,840 --> 00:38:56,981
save the network. And I mean, in taking some things to the natural conclusion, right? I think

498
00:38:56,981 --> 00:39:01,481
it could be entirely possible that Bitcoin will be forced to do some kind of fork again

499
00:39:01,481 --> 00:39:09,140
in order to save it. And it might even be the case that the real Bitcoin, the good Bitcoin,

500
00:39:09,460 --> 00:39:26,351
ends up being the smaller part of that fork for some period of time especially of all the money is in the other one But that one will die if it the one that full of shit coins and gets financially manipulated by everything And the other one could keep on

501
00:39:27,011 --> 00:39:35,031
chugging along. That's also a how Bitcoin dies scenario. I hate to be a downer, but it's also

502
00:39:35,031 --> 00:39:42,571
like that's what the one shot principle says to me is that there's a lot of optimism there,

503
00:39:42,571 --> 00:39:48,550
but there's also this kernel of, yeah, if we screw this up, that's it.

504
00:39:48,631 --> 00:39:50,331
We're done. No more chances.

505
00:39:50,991 --> 00:39:54,191
But that's also why I don't think we can screw it up.

506
00:39:54,691 --> 00:40:00,411
Because I think most of the big money that is in Bitcoin now

507
00:40:00,411 --> 00:40:02,591
is totally aware of this.

508
00:40:02,851 --> 00:40:06,371
Because you wouldn't invest that enormous amount in it

509
00:40:06,371 --> 00:40:12,471
if you weren't at least aware of some of the threats

510
00:40:12,471 --> 00:40:18,591
and thought its principles stayed what they are.

511
00:40:18,891 --> 00:40:20,431
And of course you care about it.

512
00:40:20,931 --> 00:40:24,651
And the thing is, it's a very robust system.

513
00:40:24,851 --> 00:40:29,071
And just as you say, it's robust because of us, not only the code.

514
00:40:29,451 --> 00:40:32,691
It's robust because of the Bitcoiners and what we choose to do with it.

515
00:40:33,291 --> 00:40:35,231
Theoretically, it can only change for the better

516
00:40:35,231 --> 00:40:37,891
since you need a super majority to change it at all.

517
00:40:39,091 --> 00:40:42,371
And I don't believe that a fork would ever...

518
00:40:42,371 --> 00:40:48,251
Because of this, I don't think that the sound Bitcoin

519
00:40:48,251 --> 00:40:49,951
would ever be on a minority fork.

520
00:40:50,131 --> 00:40:55,911
I'm very optimistic that we will fix it eventually,

521
00:40:55,911 --> 00:41:00,451
even if we're forced to go along with a fork

522
00:41:00,451 --> 00:41:02,591
that we don't 100% agree with

523
00:41:02,591 --> 00:41:04,671
because we would rather see something else.

524
00:41:05,231 --> 00:41:11,311
I can only speak for myself, but I think you agree with me with this, that I'm not one to rage quit.

525
00:41:11,811 --> 00:41:18,871
I still think that things are fixable, even if they don't get fixed at the exact right moment where we want them to be fixed.

526
00:41:19,531 --> 00:41:31,211
Sometimes you might have to wait a little longer and for things to get a little shittier before, you know, the things are darkest just before the dawn type of thing.

527
00:41:31,211 --> 00:41:34,571
and I think Bitcoin survives all the attacks.

528
00:41:34,771 --> 00:41:36,731
I wouldn't be bullish on Bitcoin if I didn't.

529
00:41:36,891 --> 00:41:39,551
So, yeah, I'm not too worried.

530
00:41:41,231 --> 00:41:41,911
Yeah, good summary.

531
00:41:42,031 --> 00:41:46,251
I don't have a ton to add to that other than I like your optimism

532
00:41:46,251 --> 00:41:51,591
and I am at least trying to be less pessimistic generally.

533
00:41:51,591 --> 00:41:58,031
Yeah, hope is a rational choice as we wrote in the additional chapter to Praxeology.

534
00:41:58,631 --> 00:41:59,471
There we are.

535
00:42:00,071 --> 00:42:00,831
Very good.

536
00:42:00,831 --> 00:42:02,831
Well, and we'll get there eventually here.

537
00:42:03,231 --> 00:42:07,851
So the last canonical chapter of the book is the secular individual.

538
00:42:08,171 --> 00:42:09,411
What is that about, Knut?

539
00:42:10,131 --> 00:42:15,291
Yeah, it's basically about the separation of money and state and what that actually means.

540
00:42:16,251 --> 00:42:22,471
It's akin to the separation of church and state back in the day, but on a much, much bigger scale.

541
00:42:22,731 --> 00:42:27,811
And this chapter goes into how that actually means separating the individual from state.

542
00:42:27,811 --> 00:42:33,251
Like if you separate money from state, you basically separate the state.

543
00:42:33,391 --> 00:42:39,351
Like you remove the appendix that wasn't necessary in the first place and you give power back to the people.

544
00:42:39,631 --> 00:42:40,571
Like for real.

545
00:42:43,551 --> 00:42:55,211
Not like the fantasy of giving power to the people through a democracy, but you actually give them power through having a type of money that goes up in value over time and therefore can buy you more and more stuff.

546
00:42:55,391 --> 00:42:56,351
It's pretty simple.

547
00:42:56,351 --> 00:43:08,491
Yeah, absolutely. And, you know, I think this was a very good chapter kind of contrasting the, well, I assume this was intentional, that the secular individual is alluding to the sovereign individual.

548
00:43:08,491 --> 00:43:24,151
There's something to this, right? That the idea of secularity is something that's pushed in the mainstream. Again, one of these dichotomies, it's pushed, but if they didn't push it, you would probably land on it, right?

549
00:43:24,151 --> 00:43:28,311
And I think we had some discussion about the role of religion in the world.

550
00:43:28,631 --> 00:43:29,071
You know what I mean?

551
00:43:29,171 --> 00:43:33,151
I think that's all very...

552
00:43:33,151 --> 00:43:36,511
It's something that I know you've moderated on a little bit.

553
00:43:36,591 --> 00:43:40,131
It's something that I've kind of gone back and forth about a little bit.

554
00:43:40,551 --> 00:43:43,051
But yeah, very good chapter.

555
00:43:43,191 --> 00:43:43,671
Interesting one.

556
00:43:44,091 --> 00:43:45,531
And a very good Academy episode.

557
00:43:45,811 --> 00:43:48,011
So go back two episodes and watch that if you want.

558
00:43:48,131 --> 00:43:50,111
Because we had a good discussion there.

559
00:43:50,111 --> 00:43:58,191
And also, yeah, The Sovereign Individual had an effect on this book because I read The Sovereign Individual around this time.

560
00:43:58,331 --> 00:44:03,431
And I also read Human Action for the first time around this time, somewhere in between Sovereignty and this book.

561
00:44:04,091 --> 00:44:08,371
And I remember a podcast with Gigi where he had this green costume on.

562
00:44:08,511 --> 00:44:15,291
And in his background, there was The Human Action and The Sovereign Individual as the two books he recommended to everyone in the world at the time.

563
00:44:15,291 --> 00:44:17,211
and I had just read them

564
00:44:17,211 --> 00:44:18,631
and I can totally agree

565
00:44:18,631 --> 00:44:20,511
that those two are some of the

566
00:44:20,511 --> 00:44:22,051
two of the best books I've ever read

567
00:44:22,051 --> 00:44:23,991
it was a long time ago now

568
00:44:23,991 --> 00:44:26,251
I read The Sovereign Individual

569
00:44:26,251 --> 00:44:27,711
but I should reread it

570
00:44:27,711 --> 00:44:29,651
I thought it was excellent

571
00:44:29,651 --> 00:44:32,651
Very good, great recommendation

572
00:44:32,651 --> 00:44:35,091
and then finally we wrapped up

573
00:44:35,091 --> 00:44:36,231
with laws and effects

574
00:44:36,231 --> 00:44:37,731
and the reason I don't really call this

575
00:44:37,731 --> 00:44:39,811
like a canonical chapter exactly

576
00:44:39,811 --> 00:44:41,271
is that it's not really

577
00:44:41,271 --> 00:44:42,391
it's not an essay at all

578
00:44:42,391 --> 00:44:46,851
It's just a collection of glossary terms, essentially.

579
00:44:47,011 --> 00:44:49,511
But there's some interesting nuggets in there.

580
00:44:49,591 --> 00:44:51,171
And this is, of course, the previous episode.

581
00:44:51,291 --> 00:44:52,291
So we just recorded this.

582
00:44:53,171 --> 00:44:54,271
Yeah, what was this about, Knut?

583
00:44:55,191 --> 00:45:04,591
Yes, my question is, are we going to make this into an actual glossary of concepts needed to understand Bitcoin?

584
00:45:04,771 --> 00:45:06,691
I mean, there's a lot of good stuff in there.

585
00:45:06,691 --> 00:45:27,311
I think it's quite a simple idea and just explain, you know, Cantillon effect and stock to flow and all of these other Metcalf's law and all of these other things that have some role in your understanding of Bitcoin.

586
00:45:28,311 --> 00:45:28,511
Yeah.

587
00:45:28,751 --> 00:45:33,331
Well, I think we pointed to the Bitcoin handbook as being a close one here.

588
00:45:33,331 --> 00:45:39,651
field manual is often a term for this type of book, like a short thing that just describes

589
00:45:39,651 --> 00:45:41,211
concepts and doesn't go too deep.

590
00:45:43,111 --> 00:45:44,111
No, exactly.

591
00:45:44,351 --> 00:45:46,651
A field manual for Bitcoin.

592
00:45:47,171 --> 00:45:47,371
Yeah.

593
00:45:48,011 --> 00:45:49,091
Anil's book is great.

594
00:45:49,711 --> 00:45:51,091
It basically is that.

595
00:45:51,411 --> 00:45:52,471
So, yeah.

596
00:45:53,111 --> 00:45:55,631
But maybe there'll be more of that in the future.

597
00:45:55,731 --> 00:45:56,091
Who knows?

598
00:45:56,651 --> 00:45:58,391
Always good to have more options.

599
00:45:59,291 --> 00:45:59,851
Yes.

600
00:45:59,851 --> 00:46:03,651
with that do you have any final words about independence reimagined

601
00:46:03,651 --> 00:46:11,611
no i mean uh go subscribe to us on fountain.fm if you want and you can get the um

602
00:46:12,271 --> 00:46:20,331
shows and academy episodes one day early and some other perks um also like if you want to

603
00:46:20,331 --> 00:46:25,691
support this project there's our geyser fund geyser.fund slash project slash infinity

604
00:46:25,691 --> 00:46:28,411
and yeah

605
00:46:28,411 --> 00:46:30,651
we'll see you at the conferences and everything

606
00:46:30,651 --> 00:46:32,631
we bring books as

607
00:46:32,631 --> 00:46:34,251
often as we can

608
00:46:34,251 --> 00:46:36,771
usually hard covers because we think

609
00:46:36,771 --> 00:46:37,531
they're more beautiful

610
00:46:37,531 --> 00:46:40,311
I enjoyed writing this book, I've enjoyed

611
00:46:40,311 --> 00:46:42,031
writing all of the books I've written

612
00:46:42,031 --> 00:46:44,371
and especially

613
00:46:44,371 --> 00:46:46,071
Clown World since we wrote it together

614
00:46:46,071 --> 00:46:48,111
it was a very very good experience

615
00:46:48,111 --> 00:46:50,691
not as lonely as writing the other ones

616
00:46:50,691 --> 00:46:51,771
for sure but

617
00:46:51,771 --> 00:46:54,551
we'll do more stuff

618
00:46:54,551 --> 00:47:00,911
like this in the future then the next thing coming is of course uh bitcoin everything divided by 21

619
00:47:00,911 --> 00:47:08,111
million which is by far my most famous book uh the book was written after the meme uh but uh

620
00:47:08,111 --> 00:47:14,911
it's and it's got its ups and downs but it's definitely a book that it will be very fun to

621
00:47:14,911 --> 00:47:21,911
dissect because it goes a bit deeper than these first two very good yes absolutely looking forward

622
00:47:21,911 --> 00:47:26,011
to that. So we're going to take a couple of months

623
00:47:26,011 --> 00:47:30,011
actually just because there's some travel and the Christmas holiday time

624
00:47:30,011 --> 00:47:34,091
before we kick that off again. But we're

625
00:47:34,091 --> 00:47:37,471
aiming for February of 2026 to get that started.

626
00:47:37,471 --> 00:47:41,351
And we should be able to cover both everything divided by 21 million and

627
00:47:41,351 --> 00:47:44,711
the inverse of clown world in the calendar year 2026.

628
00:47:45,351 --> 00:47:49,311
That's if we don't have to split the episodes up too much because

629
00:47:49,311 --> 00:47:50,911
the chapters get a lot longer.

630
00:47:51,491 --> 00:47:53,171
Yeah, I think we have to split

631
00:47:53,171 --> 00:47:55,011
the chapters in Clown World.

632
00:47:55,451 --> 00:47:57,251
And yeah, I'm looking forward to that one

633
00:47:57,251 --> 00:47:59,091
a lot too. But 26

634
00:47:59,091 --> 00:48:01,471
will be an interesting year for us, for sure.

635
00:48:01,611 --> 00:48:02,751
We have a lot of things

636
00:48:02,751 --> 00:48:04,531
coming down the line.

637
00:48:04,891 --> 00:48:07,231
So like and follow and subscribe

638
00:48:07,231 --> 00:48:08,571
and brush your damn teeth.

639
00:48:09,371 --> 00:48:10,831
Please. Perfect.

640
00:48:11,091 --> 00:48:13,331
And before we go, we'll just mention

641
00:48:13,331 --> 00:48:15,611
our lovely sponsors

642
00:48:15,611 --> 00:48:17,311
here that we are very happy

643
00:48:17,311 --> 00:48:21,571
to have helped support us along this journey with the Bitcoin Infinity Academy. First up

644
00:48:21,571 --> 00:48:26,791
is the Plan B Network. The best way you can get involved with them is to go to planb.network or

645
00:48:26,791 --> 00:48:34,011
planb.academy and go join one of their two courses. The business school and the development

646
00:48:34,011 --> 00:48:38,771
school are both starting up in February and these are going to be excellent. You can use code

647
00:48:38,771 --> 00:48:43,531
infinity for a discount there and go check it out if you want to get involved in the business of

648
00:48:43,531 --> 00:48:47,731
Bitcoin or get involved with Bitcoin development. Either one of these is going to be an excellent

649
00:48:47,731 --> 00:48:53,731
choice for you. And you can earn the opportunity to go to the prestigious summer school in Lugano.

650
00:48:53,891 --> 00:48:56,471
There's only 21 places, I do believe. Knut?

651
00:48:56,591 --> 00:49:01,211
Oh, maybe more this summer, actually. I think they're increasing it to 42, the

652
00:49:01,211 --> 00:49:09,991
answer to life universe and everything. So because they are mashing these two courses together. So I

653
00:49:09,991 --> 00:49:14,931
think there will be more students this summer and that is great i will be in logano a whole bunch of

654
00:49:14,931 --> 00:49:21,091
times next year i have all sorts of things planned there and i'm looking forward to seeing you all

655
00:49:21,091 --> 00:49:26,731
there i love logano and i love the plan b network the next next thing on the agenda there is of

656
00:49:26,731 --> 00:49:33,211
course the plan b forum in san salvador at the end of january so looking forward to that too

657
00:49:33,211 --> 00:49:35,571
and Bitcoin

658
00:49:35,571 --> 00:49:37,831
El Inverso del Mundo Payaso

659
00:49:37,831 --> 00:49:39,591
will be out

660
00:49:39,591 --> 00:49:41,831
to that and I hope I can get some copies

661
00:49:41,831 --> 00:49:42,771
to San Salvador

662
00:49:42,771 --> 00:49:45,851
the Spanish translation of the Inverse of Clown World

663
00:49:45,851 --> 00:49:47,551
will be published

664
00:49:47,551 --> 00:49:48,691
very soon

665
00:49:48,691 --> 00:49:51,991
potentially when this episode

666
00:49:51,991 --> 00:49:52,891
is out actually

667
00:49:52,891 --> 00:49:55,771
and then of course we also have

668
00:49:55,771 --> 00:49:57,691
Bitbox so check out the Bitbox

669
00:49:57,691 --> 00:49:59,091
02 Nova edition

670
00:49:59,091 --> 00:50:00,811
go to bitbox.swiss

671
00:50:00,811 --> 00:50:03,151
slash infinity for all the details

672
00:50:03,151 --> 00:50:04,211
and to get a discount.

673
00:50:04,571 --> 00:50:06,351
Bitcoin-only firmware, of course.

674
00:50:06,511 --> 00:50:08,991
It's the easiest to use hardware wallet

675
00:50:08,991 --> 00:50:12,091
that I've come across in terms of the interface.

676
00:50:12,751 --> 00:50:15,251
And it's fantastic to give to your friends and family

677
00:50:15,251 --> 00:50:16,511
to get them involved.

678
00:50:16,631 --> 00:50:19,371
And so you still have a chance to get their Christmas bundle.

679
00:50:19,771 --> 00:50:21,731
I believe I did this last year.

680
00:50:21,831 --> 00:50:23,231
I don't have any new friends

681
00:50:23,231 --> 00:50:25,571
to give hardware wallets to this year,

682
00:50:25,571 --> 00:50:28,231
but I gave them to the friends

683
00:50:28,231 --> 00:50:29,791
who were Bitcoin curious last year.

684
00:50:29,991 --> 00:50:31,511
So give that a try.

685
00:50:31,511 --> 00:50:35,291
and spread Bitcoin self-custody to more people.

686
00:50:35,711 --> 00:50:38,871
The more coins we get into self-custody,

687
00:50:39,051 --> 00:50:41,811
the less the exchanges can do shady things to them.

688
00:50:42,071 --> 00:50:43,451
So do that.

689
00:50:43,831 --> 00:50:45,451
Go to bitbox.swiss slash infinity.

690
00:50:46,231 --> 00:50:48,811
Yeah, and make sure you get the Bitcoin-only firmware.

691
00:50:49,671 --> 00:50:51,131
That's the one we're endorsing.

692
00:50:51,211 --> 00:50:53,111
We don't endorse anything but that.

693
00:50:53,271 --> 00:50:53,991
Of course not.

694
00:50:54,811 --> 00:50:58,211
Yes, so with that,

695
00:50:58,211 --> 00:51:01,851
I thank you very much for doing this series with me, Luke.

696
00:51:01,951 --> 00:51:03,411
It's been an absolute pleasure,

697
00:51:03,691 --> 00:51:08,271
and I'm looking forward a lot to doing the next one with you in February.

698
00:51:08,811 --> 00:51:12,991
So till then, Merry goddamn Christmas.

699
00:51:14,051 --> 00:51:14,851
Merry Christmas.

700
00:51:15,871 --> 00:51:22,311
Happy mid-winter blot thing, whatever.

701
00:51:22,311 --> 00:51:24,191
Yeah, mid-winter blot.

702
00:51:24,191 --> 00:51:30,071
But yeah, definitely pour out a horn of mead to Odin would be my recommendation.

703
00:51:30,411 --> 00:51:33,531
That's the only way to keep the wild hunt away in the shortest night of the year.

704
00:51:34,471 --> 00:51:44,611
Yes, and of course, have a drink to Särimnir, that pig that they slaughter and resurrect every evening.

705
00:51:44,611 --> 00:51:45,011
Yeah.

706
00:51:45,451 --> 00:51:48,811
Maybe we'll do a Norse mythology podcast, Knut.

707
00:51:49,651 --> 00:51:50,611
Ja, det är en skitbra idé.

708
00:51:50,611 --> 00:51:58,951
This has been the Bitcoin Infinity Academy

709
00:51:58,951 --> 00:52:01,831
and this has been a very silly ending to the course.

710
00:52:02,111 --> 00:52:03,031
I love it.

711
00:52:03,371 --> 00:52:03,591
Yes.

712
00:52:03,971 --> 00:52:05,131
Thank you very much for listening.

713
00:52:05,631 --> 00:52:08,351
Brush your teeth, spadoinkl, and out.

714
00:52:08,811 --> 00:52:09,311
Excelsior.

715
00:52:20,611 --> 00:52:50,591
Thank you.