Bitcoin isn't just a new technology, it's a lens that forces you to re examine your entire reality.

And once you see the truth, you cannot Unsee it.

In this episode, I'm joined by Eric Feestacks, Co host of the What is Money podcast for a conversation that goes straight to the metaphysical roots of Bitcoin.

We discussed the corruption of Fiat currency, why it's a form of spiritual violence, and why Bitcoin is the only path back to objective truth.

And stick around because we also dive into the simulation theory of Fiat money and how to detect if you're still trapped inside.

All right, let's dive in.

Eric Feestax, welcome back to Video Millennials.

How you doing?

It's been a minute.

Yeah, man, I was just, I was just actually looking it up.

You are like episodes, I think 60 or something so and you're and this is episode 215.

So it's been a while since we actually recorded something I think last time we also streamed it.

So why not?

Why not do that again?

And yeah, I think a lot of stuff has happened in the meantime.

We both had a had a new kid, we're still into Bitcoin, we're riding the riding the wave, the cycle.

So.

Yep.

I think a lot of stuff has changed and, and I, I just told you like before we started recording, like I'm, I'm kind of in, in two big topics now that I also want to focus on for, for the podcast.

And I think one, one thing is just really like, what is the big picture of Bitcoin?

Like, why is this such an important thing?

And I remember when, you know, I found you online, you were posting videos from the cannabis farm, you know, being super pumped, super grateful.

I don't I don't have my bag but I have AI have a pin on my bag that says super pumped, super grateful.

Thanks to my buddy David.

Yes, and shout out to David.

So yeah, maybe that's an interesting place to start.

Like I, I, I would just love for you to yeah, kind of reflect on, on, on maybe your last year and also how you are keeping this this big picture kind of in mind.

And and maybe also how, how that developed now that you're also Co hosting what is money with Robert Breedlove.

So I think you, you also, yeah, heard a lot of different perspectives again on, on Bitcoin and not, not just your own tinkering.

Yeah.

You know, what's kind of interesting is, is in some ways I almost feel more confused now than I would did like a year and a half ago.

I would say the underlying thesis is still there, but maybe I'm going through a process of like transforming as an individual or kind of really focusing on getting right with myself.

You know, what do I believe?

Who am I?

Why am I, why do I behave the way that I do?

And like, what do I want for myself and my family in the future?

And I think I think that could be common for Bitcoiners.

You know, you, you come to this conclusion that Bitcoin is the best place to put your economic energy.

And then what you're like, it's kind of, you know, reminds me of a Forrest Forrest Gump moment where he like runs in and tells his mom like, hey, we got this big contract for this ping pong paddle company or whatever.

And his mom's like, yeah, we don't have to worry about money anymore.

And he's like, yeah, it's just one less thing, you know?

And so simplifying your economic strategy I think is really, really, really profound.

And then obviously pontificating on and thinking about, you know, the long term implications of a truly scarce monetary instrument is a really, really big deal.

You know, and I was obviously growing cannabis when I first kind of joined the Bitcoin community publicly.

And I, I had a whole list of reasons and life events that like drove me to become a cannabis producer.

But I was getting really tired of it.

And I was looking for a new chapter in my life.

And in some ways I'm still exploring for what that is, but I'm really actually like focusing first on myself.

I'm getting right with myself and getting, building that solid foundation and understanding of who I am and a person and what I want to create with this reality and then prioritizing, you know, health, Wellness, family, community.

And so, yeah, it's kind of where I'm at in the process.

It's interesting because when I first, when I first started making videos, I really had no idea what was going on on Bitcoin Twitter.

I just, I just got on to Twitter.

And if I had, if I had known what I was getting into, I don't know that I would have made the videos.

It's kind of a trip And, and why?

Because I spent a lot of time, I'm like, I'm pretty introverted and I spent a long time in isolation.

And so it's been really interesting sharing or like AI don't know, putting yourself out there and then getting that reflection back to you from the world around you.

And like, I think there's something big there that could be very transformative.

And I'm sure a lot of people who create content and get any level of attention can attest to that.

It's an interesting introspective reflection that you're getting from the outside world.

But I kind of had to pump the brakes a little bit and, you know, I was like, wow, what am I going to do with all of that?

You know, with the attention that I got and what's the goal?

And do I want to just be some shit talking, weed smoking, pontificating, philosophizing, individual walking around a greenhouse Like that was a chapter in my life.

And so I don't know, I think a lot of us get to this point where we're like, OK, well, what do we do with ourselves?

How do we contribute value to the world?

What, what's important to us And through that process for me, I've kind of like retracted and been like, you know, what's really important to me is, is that I feel good about my life and myself and I'm performing as a father and a husband.

And then I'll build from there.

So I'm kind of in this very unique transition period in my life as I'm like embarking on a new chapter.

And then working with Robert and Co hosting the show has also been pretty interesting.

He invited me on as a guest in March, which you had something to do with you referred me and after we recorded, he's like, hey, you want to move to Miami and Co host the show?

Like fuck, that sounds sounds good.

Let's do that.

So I went home, packed up all my stuff.

I was here like a month later and in a rental and learning about content creation.

You know, the whole podcast game is a whole unique animal in itself.

I'm sure you can attest to that.

And so in some ways, I'm getting prepared to get hard, go hard on that.

Robert is going to be moving to Ibiza, Spain, and he's going to kind of go into quasi monk mode to finish writing his book.

And so I'm going to run the podcast for a while without him, which will be fun.

But it is interesting.

You know, I never thought about interviewing people and procuring guests and, you know, managing a little media business.

So there's a lot to learn there.

You know, I'm pretty excited to meet and talk to Bitcoiners.

Obviously, It's like one of the most fun things you can do once you stumble down the rabbit hole.

So yeah, I'm kind of just in a whole new chapter in my life.

And in some ways, I'm kind of just making sense of it all.

Yeah, awesome.

I, I, I one word I'm thinking about is like alignment, right?

It's it, it like you said, like you, you find Bitcoin, you're alone.

You are like literally alone in in this like upstate.

Running around, running around for years yelling at the same like 20 people like Oh my God you guys I don't fucking understand how big of a deal this is.

You know, but, but, but I think this is something that a lot of people actually experience, right?

And, and the cool thing is that when you start talking about it, I think it's so funny you say you're like an introvert, right?

Because when I saw your videos, I was like, damn, I want to talk like this, dude.

Like, see, so it's just all your own perspective.

But what I really love is that in, in, in, in some way, like you and me and a lot of other people, we feel like motivated to tell other people.

Everyone feels motivated to tell other people about Bitcoin when they really get it right.

But it's like no one wants to listen.

So you're instantly confronted with like, OK, well, how much do I understand it?

Can I actually, you know, have a proper words and explanation for what I think this is right?

So you're instantly kind of like running into that friction where you're trying to do something, but you don't really know like what, but but you are consciously deciding that you want to do that.

Does that make sense?

Right.

Like, and, and I think that is like the freedom that Bitcoin brings to a degree, apart from the financial stuff.

It's like, hey, if I can make my own decision with regard to money, like really having my wealth as my property, that is the empowering part of Bitcoin, I think, right?

And then it doesn't really matter how much Bitcoin you have.

It's more the fact that you realize that you can actually do that and then that transmutes to all these other things that you can just do in your life and basically own.

So I, I, I just think that's really interesting that when you just start, you see that, you know, all these little openings literally present them to you and then, you know, in somewhere weird way you're now sitting in, in Florida.

Exactly.

Yeah.

You know, I think a lot of us understand the feeling that you get when you understand the problems that we have in the world and how they're related to money or the lack of a monetary solution, which is both like you go through the process and for me, you get really like, you know, it's easy to get frustrated.

You get on social media and there's all this information you got the Whitney webs of the world just talking about how fucked everything is.

And you realize you're like, wait, everything's downstream of broken money.

And we actually didn't really have a solution to the to the to the I don't know.

I call it the game theoretic fuckness because of the physicality of property.

You have this derivative system and then the incentive is to run a fractional reserve.

So what do we have?

We live in a world with liars who got away with running a fractional reserve because we had a physical yellow shiny rock that we were using as money to effectively trade and build the civilization that we're in.

So when you think about it through that perspective, it on the other side of it, I'm like, oh, OK, like I understand how we got here.

Like it makes sense.

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And now there is a solution, a solution we've never had.

Like I sometimes I refer to the pre 2009 era as the BB era, the beginning, since the beginning of time to 2009, the before Bitcoin era.

The reality that we lived in is fundamentally different than you know, 2009 and on.

Now we have this inviolable Ledger.

It's effectively you can think about it as metaphysical property that can't be taken from you if someone kills you.

So the incentive inversion is, is is enormous.

And then the game theory also inverts to now the prudent, honest market participant who's providing the most value in time will take over the market.

And that's that's a really big deal.

I don't think enough people.

I mean, I just wish more people could could understand the implications of this monetary protocol.

And so on that note, I kind of went, you know, outside of my comfort zone.

It was like, fuck, I got to make some videos and talk about this.

I didn't think anybody would give a shit.

I think the greenhouse helped bring some attention to my early rants there.

But yeah, it's just, it's such a big deal and it's, you know, I wouldn't say I was ever nihilistic, but until I discovered Bitcoin, I, I grappled with that feeling of nihilism, like that feeling of like, fuck the world, something's not right here.

You know, it doesn't feel right.

The the 0 sum game that we're playing economically doesn't feel right.

I think it's kind of like why I don't most of us feel a little broken inside where we intuitively know that the liars, cheaters and Steelers have some advantage in the marketplace.

When you come to the realization that that doesn't work now that we have Bitcoin, that's like a very transformative moment.

We're like, oh, wow, so there is something good here.

And then to to witness the before Bitcoin era and live as like a millennial and get to see the pre like we're the last generation that knows what it's like to to not have an iPhone like Gen.

Z, my kids, your kid, like they're never going to know what it was like to not have like limitless information in in your pocket.

So to have the contrast to go from like peak dishonesty or the end of a paradigm that, as far as I can tell, has existed since the beginning of known time and moving into a new age.

And as far as I can tell, the the, the thing that changed is Bitcoin.

It changes at all.

You know, that's one I I really like Jeff Boots work.

He's one of my favorite individuals.

If this thing stays decentralized and secure, what are the implications of that quite literally changes everything.

Yeah.

And and that's, you know, it's why Sailor, it's a Bitcoins hope.

It's so feels so good to tether yourself to something that you actually believe can affect the positive change that you want to see in the world.

Not to mention that like incentive vortex, that is Bitcoin.

You're like, oh, wait a second.

Like I got to park my money somewhere because the currency is being debased.

What are my options?

I can buy real estate, some commodities, equities, treasuries, collectibles, it's effectively all you can buy and bitcoins better than all of those.

And you're like, OK, so I'm going to buy this thing because it's how I'm going to come up the hardest.

And then you get some, you're watching the price and if you're productive, you're like, hey, I got to buy more of this or I got to buy something else.

It's this like one way St.

And then you start to go down the rabbit hole and think about the societal implications and all the things that we deal with in the world today that are a result of having this Keynesian pseudoscience bullshit, you know?

Every day you're challenged by the question, can I still trust myself, right?

Because you, you took a decision now and you have to own it.

So you constantly like even more than before when you were just like moving in the field world.

Now you made a conscious decision, which is Bitcoin, which gives you like instant responsibility over that decision, which I think is also something that before that not a lot of people actually experienced, definitely, definitely not when it comes to money.

Yeah, Interestingly enough, I did have a similar level of responsibility.

I would say it was a lot harder maintaining my money growing cannabis for so long because I was, I had banking impedance.

So I had to deal with cash and you know, I don't know, sometimes large monthly expenses and, and hiding the cash was a thing When I got all of my, I don't know, resources into Bitcoin behind a multi cig.

Conceptually, I knew how big of a deal it was, but that when it was done, that moment, I'll never forget it.

It was such a feeling of relief, like I spent so many years of my life.

Although I'm paying taxes and I'm licensed by the state, I'm a lawful market participant within the jurisdiction that I was operating in.

And I still had issues with the cash.

You know, the cash get burned down, it could be stolen, seized.

I got to pay an attorney a bunch of money to get my cash back.

So that was, that was an interesting experience for sure.

And it really primed me to understand how big of a deal it was to have something that's virtually impossible to steal from you.

But you know, going back to like Whitney Webb and the back black pill thing, the thing that I think is so amazing for Bitcoin, we're going to all attest to is, is it it it even though it is probabilistic, you can say, you know, I mean, a lot of us believe it's it's done.

It's certain, but it is probabilistic, But it is a solution.

Whitney, the Whitney webs of the world, as far as I can tell, I don't know that they're offering up a real solution to the average individual.

I listen to Whitney Webb and I'm like, what do you what, what are we supposed to do?

We just all move to Alaska, live off of elk and run Lennox with a fucking our own server and like, what do you do?

It's like, OK, we need a solution to this.

And I actually, you know, I really wish Whitney Webb would dig a little bit deeper on the Bitcoin thing.

She's talked to some bitcoiners.

She's been on McCormick show.

I think like all corrupted the bankers, this is that.

Yeah, well, I think she has a point.

I do.

And it's kind of like what Booth talks about, Like you have a system, an entire system.

It's systemic.

The whole thing is based upon theft.

How is that system going to respond to a inviolable protocol?

It's going to attempt through, I don't know, Darwinian self preservation.

If you want to personify the system, it's going to attempt to corrupt it.

And I think we are seeing that.

And as far as like the price, it seems to be a little underwhelming at the moment.

And I think that we're just dealing with fuckery, dude, you know, and I'm not a Wall Street guy.

I don't know what kind of games could be being played.

You know, Dark side is an individual, I believe who I think he said there's, I don't know, like 42,000,000 or something paper claims on Bitcoin.

I could be wrong about that.

But the idea that there's a bunch of paper Bitcoin, there's a bunch of fuckery at hand, I think that's expected that and like real money is here and they're going to play some games.

There's a lot of FUD.

It's like we have increasing noise at the same time that the signal is increasing.

And that's where I think it's really important.

And I don't know, personally, I've been kind of going through that process of just getting right with myself and to get a little metaphysical and spiritual with it all.

You know, I do believe we are.

Traitors of our own reality.

I believe in simulation theory and and somehow we're projecting this reality from our fractal of God source consciousness, right.

And so I'm starting to think more and more so now, like, when's Bitcoin going to RIP?

You know, it's like when we're ready for it, when we're not ready for it, Like Bitcoin is exactly what it needs to be for where we're all at now.

And that's kind of an interesting thing.

And it's almost like, I don't know, there's a letting go that goes through the process.

And I actually would like to talk to American Huddle, which I believe you've had on your show a few times, because he speaks to this really good.

The process of like going through the ups and downs and kind of like being humbled and relinquishing control.

And for me, I get up on the daily and I have to make sure, you know, hey, is my family healthy?

I got responsibilities, stuff to do.

And like, is my thesis around the world still something that I believe in?

And that could change at any time.

You know, like a lot of us.

And there's people who speak to it.

You know, I even sailor's one of them.

He's like, yeah, I thought it was bullshit.

I was wrong.

You know, you have to be humble to a certain degree.

And maintain that humility.

Yeah.

You know, it's, I don't really know.

I almost don't know how to verbalize or articulate that that experience.

What do you think?

I, I, I think you're forced to do it.

Like yesterday I had an amazing conversation where Matt, who I was talking to, he, he explained to me that the etymology of humility comes originally from like the word like hummus, like ground.

So like being humble, being humbled is like grounding yourself again, being put back on the ground, right?

Like you are like way off your off your feet.

Basically, you're too, too high up and you're getting humbled, right.

And I think my translation is kind of like being high up is like you're, you're, you're not aligned with what you want to do, right?

Like it is it is it is it is not like you're following like your like your own alignment.

So when you're humbled, you get you get back to that point.

But I think we entered this battle that is, that is so far beyond us as this individual, like I, I, I do feel that there should be like more collective energy even geared towards this, because this is this is this is like through the maester says, like this is a war, like it's a war because what does Bitcoin do, right?

Like you said, the metaphysical part, what I mentioned the mirror part, like you cannot touch it, but it's still there.

The concept is there, right?

And it's like a full on 180 mirror of Fiat money.

Everything that Fiat money is, Bitcoin is not.

And so once that exists and it cannot ever go away, you have something to fight back against all the nonsense that Fiat money people basically spout.

Yeah.

And you know, I kind of have this.

So I ate a bunch of mushrooms a while back, a couple years ago and I was thinking about Bitcoin and it, and I'm visualizing this, I don't know, like this flat place, this immovable object that you can stand on or tether yourself to in a reality with all of these variables, everything is in motion.

So figure you can.

How do you see clearly economically what the value of anything is?

If you're measuring the value of goods and services in dollars, but the amount of goods and salt dollars, the goods and or the amount of dollars is always changing.

It's that that that the ruler is not fixed.

And I think that that creates a lot of confusion.

Well, it definitely creates a whole bunch of unnecessary economic activity where people are constantly moving in and out of assets or stuff to try to figure.

Out jobs or.

Jobs or whatever, yeah, yeah.

And so that having that monetary constant I think is a a really big deal.

And then I don't know like vibrationally, you know, you talk about like Bitcoin is true and we both look at, you know, that Ledger and we're both looking at the same thing.

I think there's something really big there in ascending to a higher state of consciousness or becoming more more so, becoming more aligned as individuals commingling and Co creating in this reality.

We finally are agreeing on something I don't know, I guess you could say outside of mathematics, but like, even if you and I look at the sky like, we might not.

People say one 1 * 1 is 2.

Like the turn tower to the world.

Yeah, I.

Mean.

I mean.

Fair enough.

Might be true, I don't know.

You know, it's, it's, it's, there's no distortion.

There's 21 million units.

They all reside in whatever these addresses are, it's changing, it's getting updated on nodes every 10 minutes globally.

The, the level and which we all agree to this thing is, is has more clarity or more vibrational alignment than religion.

You know, with all these religions have very common themes, but they're slightly different stories and whatever.

So if you think about like our vibrational frequency is you look at the economy and you look at this reality and you're like, Hey, you can take everything on planet Earth and divide it by 21 million coins.

Like there's a level of signal and clarity and alignment there that and I might not be putting words to this the best, but it is definitely unlike anything that we've ever had before.

And I think that that's, that's very interesting as far as like our consciousness and our awareness and then the self reflection and being like humble and grounded.

And I don't know, man, you know, it's also fighting for something that you believe in.

I think most people, whatever the statistics would be like 99 point, whatever percent of us are like not psychopaths, We're not we're we, we default to doing the right thing and cooperating with others.

I.

Think in a in, in, in, in, in like a Fiat world where I think you said that.

Well, it's like when the ruler is broken.

I thought it was interesting.

By the way, I saw another, another comment like happy you feel the same.

I thought it was a newbie feeling, but this is the essence, right?

Like we are still, even after 10 years, I'm still trying to wrap my head around like, what is what does this mean?

What does it mean when you have a broken ruler, right?

Because Oh yeah.

And someone else said we agree on the value of our time and that's a that's that's a good thing to, to, to weave into this, right?

Like if I have a value proposition and I say this costs 100 money units, and you say, well, I'm interested, but I want to pay 80.

And I say, well, I'll, I'll do it for 90.

And you say, yeah.

And, and we shake our hand at, at that time, only that time when we agree and shake hands, we have this equal exchange, right?

So you value my time or, or my energy and time, my productivity the same way as how I value it.

And then we agree that there's this exchange in, in value, right?

But the fact that there are other people that influence the measurement of that value beyond that point is, is the issue, right?

That's the broken ruler that that you mentioned.

Because you after that exchange, you effectively have a third party involved in that transaction that's meddling with that's that's stealing from you.

And I think that also creates a low grade state of psychosis where like most people are unaware of exact I guess maybe that's not the case now most people are aware of inflation Now, you know, it's becoming a commonly discussed thing.

You have the debasement trade and people should buy gold or whatever the rhetoric.

Is around, I think a lot of people think inflation is the prices go up, but that's because of all these other things that are not money printing.

Yeah, yeah.

But it creates this.

I think it creates a low grade state of psychosis.

And if you're healthy and high performer, then you're responding to that.

You're incentivized to figure out how to get around that.

It's like a Jeff Booth quote comes to mind, where you have abundance and money, you create scarcity and everything.

Where you have scarcity and money, you create abundance and everything.

And so I don't I, it's, it's I, I don't know, I go through the world and I'm in Miami.

I was just driving back from the pediatric the other day and I'm looking, looking at all this real estate, looking at all these businesses.

And I, I just got a letter from the state of California for taxes for last year.

They want me to send them a couple documents.

And I'm just like looking all this economic activity, all of the stuff that people are doing effectively to figure out how to put their, you know, time and energy in an abstracted form, how they're trying to save their, their economic energy.

And then and in addition to that, how they're trying to avoid being effectively stolen from or debased.

And then that kind of the worst that that gets the worst, the more prone people are to operate in a 0 sum way against each other.

So I feel like we have this invisible hand in some ways that's incentivizing people to behave in a way that the otherwise wouldn't.

And Bitcoin is the the antidote to that.

And that is, it's just so profound.

It's so simple too, you know, I think about like, what does the world look like when governments are not stealing all your shit and people have access to food?

You know, giving my daughter like this little beef stick, we're getting these like, I don't know, or grass fed beef sticks with no garbage in them.

This thing's like 3 bucks or something.

You know, I'm like handed it to her the other day.

And I had the moment of, of, of realizing or like in that moment it came to me.

I'm like, do you know how many fucking people or kids want to eat this or at a store looking at food and they're like, I can't have that because I can't afford it.

Like that's fucking crazy to me.

Like the abundance that we have in the world today, it's the most abundant it's ever been, but it's just not evenly distributed.

Gosh, I would really like to see Bitcoin do what we all think it should do.

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There's something very revolutionary about taking on a Bitcoin position.

For me, I kind of, I determined when the Sailor series hit, when the Sailor series hit and I listen to the Sailor series, I unloaded a bunch of gold and silver that I had.

I had Bitcoin and gold and silver at the time, being a cannabis producer, having the banking impedance I was, I didn't own a bunch of real estate, I didn't own any equities or whatever.

And I, and I remember just having the conscious thought like there's been this galactic battle between good and evil since the beginning of time.

And in some ways you could say that evil or dishonest market actors have a stranglehold on the global economy and this is the thing that could fuck them up.

Like, I'm all in.

I don't give a fuck, dude.

I'm going to ride this thing to Infinity or 0, right?

Like, and it's and if it goes to zero, I will die at the end of my life.

But I'm I'm going to have to figure out how to make money, go to the marketplace, solve a problem, make sure I can take care of my family.

But I, I will know that I at least tried to do something that has real impact.

You know, I think that's something that's you talk about time preference, you know, and Fiat versus, you know, a, a Keynesian, you know, Keynesian monetary system versus a hard money Austrian economic theory.

You know, that time preference shift.

Well, we can actually look, we have that.

We have something to look forward to and we have a real solution to the problems.

And then it's that taking that action to really with a high level of probability affect the change that you want to see for, for the future, for our children, for whatever.

And yeah, that's just, I don't know, man.

It's just such a big deal.

It's such a big deal.

I remember listening to the Booth series 2021 or whatever it was on Robert's show.

I was working by myself in a grow facility, my headphones in, and Booth says the natural state of the free market is deflation.

I'm like, I had gloves on all covered in cannabis resin.

I'm like fucking digging my phone.

I'm like, pause.

I remember I like walked out and I'm like, it's like, what new neural pathways, wires like cerebral, like psilocybin and just I'm like, dude, that's real.

Like, why that is so profound?

And we just believe that, like, inflation is an inherent or, you know, it merges from the marketplace naturally or we need the government to expand the money supply as the economy grows.

That was such a powerful moment.

Like, wait a second, the natural state of the free market is deflation.

So if that's the case, and, and, and how?

But First off, how is that?

Because supply satiates demand.

Unless you have some sort of regulatory Moat around the sector in the marketplace, your margin is always under attack by other entrepreneurs in capital.

The larger the margin, the larger the beacon of opportunity for entrepreneurs in capital to move into that sector, place sector of the marketplace and provide that good or service which is in turn going to bring its value down.

So if the free market is naturally deflationary and you lay on top of it an inflationary monetary system, those are those are fundamentally 2 incompatible forces.

Like just that in itself it doesn't work, full stop it.

Distorts what would be nature's course and also true capitalism, by the way.

But.

Yeah, well, it's unsustainable.

It's unsustainable.

You have to hyperinflate or, and that or then there's, you know, the code.

Now let's give some credit to the Whitney Webb's of the world.

Or you end up in some tyrannical, I don't know, gulag fucking situation where you're just locked down because everything's going to fall apart.

And so you can see clearly the deflation taking place if you measure the value of goods and services in gold or Bitcoin.

But with Bitcoin, the supply, once we hit 21 million, it's fixed, you know, and that's it.

Like I remember listening to Sailors keynote in 2023 in Prague.

It was the first keynote he did with slides.

He's talking about gold or thermodynamics.

In Half Life, if you're increasing the supply of gold at 2% a year over 35 years, you double the supply of gold, so you're getting cut in half.

So really before Bitcoin, there was nowhere that you could put your money where you weren't bleeding out at some degree.

To some degree, yes, that is profound.

I, I spent a couple years of my life walking around just like, Oh my gosh, what a big deal with that is.

Like how long is it going to take the world to wake up to this?

Except Bunny told me all the money you have today is worth the most today.

That was so profound for me when he said that, right?

And that is, I think, what people don't really consciously know, but they do feel, but they do know it.

But it's also true on average across the entire marketplace, equities, real estate.

So if your if your real estate is going up 10% a year and the dollar is being debased at 10% a year, you're treading water.

Then you got taxes and entropy.

You know you got maintenance.

1% a year is like you have paid for real estate in the 1% tax jurisdiction, 1% annual average maintenance cost.

You're losing 2% and you so you're going up 10%.

The dollar is being debased at 10%.

We have 2% carrying costs or ownership costs.

You're back to that 35 year half life and people don't see that.

You know when shout out?

To your mortgage also.

Bull.

Yeah.

Then you add in the mortgage and it's like you're just.

That was also like 30 years, right?

Pissing, pissing energy into this thing that people believe is an asset.

It's, it's really a liability.

And what's happening with the house is the same thing that's happening with a car.

Like I'm sure in Zimbabwe or in Venezuela, there's a, you know, you got inflation at such a rate where the currency is being debased fast enough where a Toyota Corolla is going up in nominal terms.

And as far as that currency, well, in the States, the dollar isn't being debased fast enough for an automobile to increase in terms of dollars, but the house is increasing in terms of dollars because the currency is being debased that quickly.

So it's it creates this optical illusion.

And then you know, a shout out to Canute Infinity divided by 21 million.

That concept is a first with Bitcoin.

You could never have all the wealth in the world forever denominated in anything pre Bitcoin because you have the scalability issue.

You can't infinitely subdivide gold, right?

And so you're back to this derivative system, which then is corruptible, which is where we're at today.

So this is like a it's, it's an absolute first for our civilization.

And the implications of it are just so profound.

They they kind of break the brain and then you like put it back together and then you're looking at the world through an entirely different lens, and that's very powerful.

Two things like deflation is they say deflation is bad, but they never finished the sentence.

It's like deflation is bad in a debt based monetary system, right?

They they never finished the sentence because if they would finish the sentence, they would actually tell you what, what you're in, right?

And then what, what is that?

What does that mean?

What, what does a debt based system mean?

Right.

Like sometimes I see these people, these like PhD finance people on on, on X and they're like, well, who do we owe the debt to?

Well, you're fucking kids, dude.

Like you you, you're stealing.

From the future.

Yeah, you create energy from nothing, which is impossible, right.

And you're borrowing it from the future in the now with with, I mean in, in essence, the idea of debt of of, of credit is not a bad idea, I think.

But as long as the credit isn't printed into existence exactly, if somebody's pooled capital together and they're going to loan it to some entrepreneur and some sort of consensual market exchange, there's no issues with that.

Exactly.

So the and and and that agreement by the way is also way more clear, right.

Like there would be a certain interest on that money, but that would be agreed upon in like a free market, right?

It's like my pitch of what I'm going to do with my company, whatever has a certain risk level to you as my financier.

And therefore you say, well, I need XYZ percent and I freely agree with that or not, because I have a good idea of what I'm going to build and what that's going to be worth, right?

So in, in, in that sense that that would be a way better agreement.

But now it, it's just created into, into existence.

And I, I never understand why they don't understand that you're borrowing from your children because at some point the, the, the credit is due, right?

Like you have to, you have to pay it off.

And when you look at like the US debt clock and you look at I'll, I'll, I'll pull it up now because I, I, I, I think it's always so interesting.

Yeah.

And I'll share a thought actually that yeah.

Go ahead, I'll I'll put it up.

So you have, you have, I don't know Harvard level economists that believe this Keynesian, I don't know economic theory.

And I think the reason that that's the case is, is you too, to get to the point where you're like, wait a second, this is bullshit, requires you to admit that at the very least you believed or accepted something that's bullshit.

And there's cognitive dissonance there.

It can kind of break the brain a little bit.

I'm sure you can attest to this.

The people that I find have the hardest time grokking Bitcoin or seeing, you know, the magnitude of Bitcoin are people who are educated and successful in our current economic paradigm.

They're like, yeah, I don't know, it's, it seems sketchy.

I'm doing just fine.

I got my real estate, my stocks are growing up 10% or whatever.

And I, I went to school, I paid 1/4 of $1,000,000.

And you know, we need inflation and we need central banking.

We need a central authority to control the cost of capital effectively in metal, in the marketplace, which, you know, it's pretty simple if you think about it like it's, it's economics, you know, and I don't know, I'm just a humble pleb.

I could be wrong about all of this, but it's, it's simple supply and demand.

You know, the, the, the value of capital is going to be relative to the supply and demand.

If you have a bunch of unused capital that people are sitting on, interest rates would be lower because you have more supply relative to the demand.

If there's not a lot of available capital, interest rates are going to go up.

And so you're going to find that market equilibrium.

And we are very far away from that currently with this, this Fiat bullshit.

And we do live in a deflationary world that you just can't see it until you look at prices through something fixed like Bitcoin.

And even today, bitcoins, obviously the supply is increasing, but it's increasing at a slower rate and everything else.

I find this to be an impactful one.

I'm talking to people about Bitcoin who are like new to the idea.

It's you can denominate the value of anything and anything.

I can denominate the value of my laptop in blue light blocking sunglasses.

I can denominate the value of my pickup truck and chickens or whatever.

So if you denominate the value of anything in the marketplace in Bitcoin, we're making more of everything else on planet Earth and we're making more Bitcoin.

The supply of Bitcoin is increasing at a slower rate than the supply of real estate.

Equity has got gold, all the other shit.

So Bitcoin's convertibility into any other good or service is going to increase in time.

It's it's fundamentally that simple.

And when you get to it is it's like.

Yeah, but it's hard to grasp because it didn't exist before.

I think that's it.

Like, well.

I.

Think there's the cognitive dissonance I I don't know I mean, maybe you you tell me what you think, but I think that in order to to grok the concept, you have to admit that you were either at least unaware or entire believe something that was entirely wrong and some.

Yeah, again.

You go death.

That's also what.

Handle that.

I wanted to put up the like like death clock, right?

I was looking for the.

Where are we at 38384?

I think it's here, yeah, Like 38, four.

That's wild, these numbers.

But I was looking for this death per citizen.

Well, debt per taxpayer, right?

So that's everyone that's paying tax.

But like debt per citizen, $111,000.

I remember first time I looked at this, it wasn't like 87 or something, but like per citizen, which includes babies, right?

So when when a baby is born, the government of the US is already $111,000 in debt, not not like on their name, but maybe like in their name or something like like your government already spent $111,000 on something that that baby will never even see the value of.

When you see that like that is not an accident, but there are people that profit from that if if and that is Fiat money like you said the 0 sum game like your baby is -111,000 dollars.

Well, not in real debt, but in like what the country that he was born in actually owes and he has to work to contribute to paying to paying that off all already.

Does that make sense?

Like I think that wild to realize that when you then hear these economists like, oh, or or like Christine Lagarde of the ECB, like we have to tame the beast of inflation, like it came out of nowhere.

Like no, it's just a logical conclusion.

Logical consequence of your flawed economic ideology.

Yeah, well, when you have a money printer, you you can paper over losses.

I mean, Robert talks about this all, all the all the time.

So you're you're not incentivized to be fiscally responsible.

The government can do things in the in the marketplace that a person or entity that doesn't have access to the access to the money printer can't do.

If you do something that's not profitable, you eventually will go out of business.

It's it's, it's energy.

If you're exerting more energy than you're consuming, you will cease to exist at some point.

The problem with our current economic system is, is you have effectively a group of individuals or a nation state apparatus that can offshore its losses on to the innocent people that are using the currency.

And so there's not really an incentive to do the right thing for the long term.

And it is like we are should define the future through this this system, but the opposite is true.

Once you take on a Bitcoin position, once you understand Bitcoin, you're saving in Bitcoin.

The exact opposite is taking place.

You can see the the deflation taking place in the world.

We're also in a in a special time.

I kind of think about it like it's the great demonetization, bitcoins going to demonetize all these other asset classes because it's so much better than all these other assets to use as I don't know, savings or a vessel to project your, your capital into the future.

So but even once we get on the other side of that, Bitcoin will still appreciate at a faster rate than anything else in the marketplace because we're making more of everything and we won't be making more Bitcoin.

So it's fundamentally it's both, it's both so simple.

But then unpacking this, it seems endless, you know, like to this day, I mean, it's like you got Bitcoin podcasters like us.

They're just talking, talking about this non-stop.

It's yeah, it bends the mind.

Yeah, I I think so too.

But I think this is also why this is such like a long game.

This is not going to happen tomorrow.

This is not going to be fixed tomorrow.

And maybe maybe that's a nice kind of like thing, like a like a topic to to end this on like how how do you think about that?

Because how I think about this is like, I'm going to pay attention to this for the rest of my life.

Like I want to see if this thing that I found and this idea that I have around it can actually come to fruition and, and, and bring us that like flipping incentives and everything that comes after that to eventually get to this kind of like abundant place.

Like I feel I am perhaps abundant in my head and that helps me to function in the current reality.

But seeing that change would be super cool.

But I don't know if that's going to be in like our lifetime.

So I think we're doing it for the kids, but I wonder what you think.

Oh, man, I don't know, man.

I, it seems, you know, it seems obvious, but I guess in some ways I'm kind of maybe becoming more detached from any particular outcome.

You know, like I said, I wake up, take care of what I need to take care of, check to make sure that what I believe about the world still stands.

That could change and maybe maybe part of like riding the cycles contributes to that a little bit.

It's almost like it's like having trust in Bitcoin parallels, having trust in God or whatever you believe God to be, right?

It's like external force that you almost tether your your ideology to.

And with Bitcoin, it's so much better than anywhere else that you can put your money.

It's almost like I just I got the Bitcoin.

It's like, God, it's going to serve me up whatever I'm ready for in that moment, right?

It's like it's this full trust in this protocol like outs.

It's like daddy Bitcoin is just going to give me whatever I get and like I'm going to be happy with that because that's there's nothing better.

And in that sense, too, it kind of recalibrates you in in some ways, and it becomes like, it's, it's religious.

It's kind of psychedelic.

It's yeah, man, it's, I don't even know.

It's, it's powerful.

It's transformative.

It's a it's, it's definitely something, something very unique is happening that that's never happened in human history.

It's this orange portal.

It's kind of sucking everything into it.

It's reflecting back to us who we are.

You know, it's going to punish you for being, I don't know, egotistical and impatient.

It's going to reward you and in the ways that it is and, and maybe it isn't, but you're, you're just going to kind of get what you you're going to get and there's not a better option.

To change is your reality because you have this anchor that you can use to like move forward.

You have this this anchor of truth, whatever you want to call it.

And so you're, you're moving forward with more confidence then, then with and clarity then with Fiat money, because you know that with when you're moving forward based on the Fiat money standard, you know you're going to get stolen from and, and basically become less rich or more poor, right?

Like that's the whole meme of Bitcoin is not a get rich quick scheme.

It's a don't get, it's a don't get poor scheme.

And that's also like, have fun staying poor.

It's like, if you don't figure this out, you're going to be poor because people are stealing from you like all the time, right?

So if you don't fix that, if, if, if, if you cannot challenge your ego and accept that you have no fucking clue how money works.

Like we also didn't then yeah, you can have fun staying poor.

Like it's the ultimate kind of like responsibility red pill or something before the the the orange pill.

Like you have to except that you just had no clue and that you have to take ownership.

Like everyone has this problem today is kind of what I when someone asks me like, oh, why?

Why is it Bitcoin for millennials?

I'm like, well, every, everyone has a problem, but especially the millennials and and younger, right, like you all have this problem today.

There are no social services in the future.

There are there is no pension for you in the future.

So my literal money is on in Bitcoin, do whatever you do, but you need to accept that this problem is here today and you need to figure out why it exists and conceptually grok it so you can actually start figuring out what to, to do about it.

And whether it's Bitcoin or not is, is up to each individual, right?

But just accepting the fact that the money is designed against your in, you know, individual prosperity, I think it's just something you have to accept before you can even entertain the idea of, of, of adopting Bitcoin.

Definitely, Yeah.

What popped into my head that I find to be like make me feel quite hopeful about the world and Bitcoin, the same driving force that caused the world to be so fucked.

People first serving their self-interest is the same thing that's going to make Bitcoin work.

Now.

The difference is, is now what serves the interests of the individual simultaneously serves the interests of the collective.

Yeah.

And that's like, you know, these crazy psychopaths that have Co-op to the marketplace through this fractional reserve scam.

The same driving force is what's going to drive them into Bitcoin.

You know, every once in a while, I think maybe one of the last things that I wrote and tweeted, and I've done it a few times, is Bitcoin's not a threat to anybody.

It's a solution for everybody.

It really is our, your current economic system flat out doesn't work.

It just doesn't.

You can't have an inflationary monetary system, a debt based inflationary monetary system layered over a free market.

So we don't have a free market.

You have all these capital controls and all these forces and, and monopolistic incentives and regulatory moats.

You know, like Robert says, if you have a central bank, your, your economy is half Marxist, it's half market.

We don't live in a capitalistic world at this point.

You know, we don't, not with central banking.

And so, you know, like another quote from Booth, I love it's bitcoins, the first global free market we've ever had.

And I and I, and I just think that it's incentives.

You know, I like Robert talks about this all the time.

People respond to incentives.

Charlie Munger, you know, show me the incentives.

I'll show you the outcome and the incentives are so powerful with Bitcoin.

That's why we that's why bitcoiners can seem or sound or become hyperbolic.

It's, you know, it's speaking inevitabilities.

It's like, well, as long as this thing stays decentralized and secure, that incentive vortex is so powerful.

That's going to suck everything into it.

And it's the same driving force that caused the mess that we have today.

And I kind of, and I do, I think it's the BB era and the AB era.

The reality is fundamentally different.

You know, if I, I kind of think in, in at sometimes like, you know, through the lens of simulation theory, it's almost like creator or whoever created this simulation.

And maybe that's us just projecting this reality through our consciousness.

It, it, it fundamentally changed in 2009.

It's not the same reality.

It is fundamentally different.

The incentives have inverted.

We have a solution to a game theoretic issue that has existed since the beginning of time.

It's a new world.

It's a bright orange future, You know, and, and, and I would encourage anybody and everybody, if anyone's listening to this, you know, to speak up, do your part, you know, like share the gospel and in and in my experience, one of the things that I found to be the most effective and orange peeling people that I know personally that aren't in the Bitcoin community is just by being fucking pumped.

Like I'm, I can't tell you how many people are just like, you seem pretty happy, dude.

You know, I move out of Northern California in the last five years that I was there, like farmers are struggling.

They're struggling because the natural state of the free market deflation, supply satiates demand.

The value of the commodity that these people are, is are producing is is declining because the supply is going up relative to the demand.

Meanwhile, their cost of operating and living their lives is increasing.

So it's like watching, I watched growing cannabis in Humboldt County was a very special thing that I'm very grateful for because I got to learn a lot about the world in ways I don't think I otherwise would have watched a full on boom bust cycle and like the mania.

And to get on to the other side of that and watch a whole community of people that I live with for a long, long time going out of business and not understanding what's happening.

And then they look to me and they're like, oh, well, you sold your farm, you did consulting farm management services, you bought some Bitcoin.

Generally people like, you know, think, oh, well, you got into Bitcoin early.

So, you know, obviously you're lucky, you're pumped, but there's something more to more to like channeling those good vibes.

And I think that that's that's the thing, you know, when you're when you have good energy, I mean, we talk about like all that guys got bad vibes.

Like when you have good energy, people are like, what's this person doing?

Like I want, I want some of that, you know, and I find that that helps at least open the conversation being being grateful, being humble, you know, share what you believe.

Maybe it's not right, but I'm going to think if everybody speaks up and you know, Robert says this, you need freedom of speech so your words can go to battle so your and die so your bodies don't have to, you know.

And so I think everybody needs to really express what they're experiencing in their opinions about what's happening in the world.

And we'll see what consensus we all find ourselves come into.

Yeah, man.

Well, I think that's a great ender.

I want to end with something in that I think I heard you say for the first time, which is stay humble, stay solvent, stack sets, right?

I think that was I think that was you.

Thanks to everyone for watching.

Follow along like on X on YouTube, follow Eric on X and yeah, get ready because he's going to be the host of What is money.

So thanks everyone for watching.

We appreciate you.

And we're we're stoked you you came along.

So thanks brother.

Yeah.

Thank you man.

I hope you enjoyed this episode.

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