Michael Saylor: The Thermodynamics of Bitcoin EXPLAINED (2021) (#393)

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win a meteorite Remastered from our interview in 2021.  There
is a lot of talk about how to make money with Bitcoin…  But
how does it actually work? What are the physics behind it? And can
Bitcoin replace the US dollar? Here today to answer all of these
questions and more is Michael Saylor. Michael J. Saylor is an
American entrepreneur and business executive who co-founded and led
MicroStrategy, which provides business intelligence, mobile
software, and cloud-based services. Saylor authored the 2012 book
The Mobile Wave: How Mobile Intelligence Will Change Everything. He
is also the sole trustee of Saylor Academy, a provider of free
online education. As of 2016, Saylor has been granted 31 patents
and has 9 additional applications under review. MicroStrategy added
$175 million of Bitcoin to its holdings in September 2020 and
another $50 million in early December 2020. On December 11, 2020,
MicroStrategy announced that it had sold $650 million in
convertible senior notes, taking on debt to increase its Bitcoin
holdings to over $1 billion worth. On December 21, 2020,
MicroStrategy announced their total holdings, including 70,470
bitcoins purchased for $1.125 billion at an average price of
$15,964 per bitcoin. Saylor, who controls 70% of MicroStrategy's
shares, dismissed concerns by observers that the move is turning
MicroStrategy into a Bitcoin investment firm or exchange-traded
fund (ETF). Key Takeaways: 00:00:00 Introduction 00:01:39 Judging a
book by its cover 00:04:59 What's the next (6th?) technology wave?
00:08:52 The next megatrend: Virtualization 00:17:01 Why are there
ridges on coins? 00:19:20 Where does gold come from, and can
virtual currencies replace real ones? 00:32:41 Why is blockchain so
great now? 00:37.53 Risk management in science and all things.
00:57:16 The physics of Bitcoin  01:33:35 What is your ethical
will? 01:38:54 What would you put on your billion-year monument?
01:40:59 What mystified you as a 20-year-old that has come to pass?
— Additional resources: ️ Check out Michael Saylor: Website:
https://www.michael.com/  ️ Twitter:
https://twitter.com/saylor/  Get one month of Snipd Premium
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