A #bitcoin masterclass with Michael Saylor and Ross Stevens!

This is an instant classic, worthy of sharing with anyone and everyone.

Ross Stevens masterfully articulated the value proposition of bitcoin in less than 1 hour.

Thread of the best quotes to follow:

“A central bank can control the supply of their money, they can’t make their people value it”
- Ross Stevens

“Money is title to human time. People sacrifice their time for money which enables us to trade our time for the time sacrifices of others."
-Ross Stevens

"A tool that can command human time, the central bank keyboard (Ctrl + P)? That keyboard steals time, particularly from non-asset owners (the most vulnerable) and redistributes that time to others, most notably the existing asset owners."

-Ross Stevens

“Learning bitcoin is like learning a foreign language. With immersion, you think in [the language].

“I now think in bitcoin. It’s very freeing.”

“Bitcoin is the best money we have, maybe it’s the best money we’ve ever had. That’s why I’ve learned the language.

-Ross Stevens

“Bitcoin is not volatile, fiat is volatile.”

-Ross Stevens

“Money is technology. It is and it always has been. It’s technology for making our wealth today available for consumption tomorrow.”

-Ross Stevens

“Bitcoin is the first store of value ever whose supply is entirely unaffected by its demand.

Bitcoin is better at being than gold because it’s more salable across time.”

-Ross Stevens

"Bitcoin increases our capacity for final settlement by 500,000 transactions per day and completes settlement with finality in about an hour.

Bitcoin is better at being fiat than fiat. It’s more salable across space and [...] it has no credit risk.”

-Ross Stevens

“Bitcoin mining is solving a math problem, not a transportation problem. [It] can be solved anywhere, so [it] can be located anywhere. The long-term implications of this are world-changing.

Bitcoin can make monetizable, isolated energy sources all over the world.”

-Ross Stevens

“As bitcoin’s price rises, bitcoin mining will be the most profitable use of energy in human history that does not need to be located near human settlement to operate.

Bitcoin is going to fundamentally change the economics of energy."

-Ross Stevens

“The net result [of bitcoin mining] will be more and more of humanity clustering around cheap, clean energy sources. Historically, our challenge with energy has been to move the power to the people. Bitcoin will allow us to move the people to the power.”

-Ross Stevens

“Cheap energy = human flourishing

Bitcoin represents the biggest catalyst the world has ever known for the development of abundant clean, cheap energy and therefore, one of the biggest catalysts the world has ever known for human flourishing."

-Ross Stevens

“A CEO’s most important job is capital allocation, the decision of whether and how to adopt the bitcoin standard. [It] will be the most important decision every CEO makes in the next 10 years. Whether they actively make it or not, they do so with high consequence.”

-Ross Stevens

“Bamboo spends its first 5 years building an extensive root system underground, basically doing nothing visible…and then it explodes 90 feet in the air in 6 weeks.”

-Ross Stevens

“ @NYDIG is a full-service, vertically-integrated, bitcoin-only financial services firm.

The first billion [dollars] took 1200 days to raise. The last billion took 6.

A year ago, we had 25 institutional clients. Today, we have 280.”

-Ross Stevens

"By the end of the year, I am confident we will have over 25 billion dollars of bitcoin. I have an orderbook, I’m not guessing.

Exactly ZERO clients have walked back their allocation. Once people get off zero, they either stand pat or they increase.”

-Ross Stevens

“Bitcoin is derisked.
-above $500 billion marketcap
-millions of people using it every day, with a clear line of sight to tens of millions and then billions
-12 years of uninterrupted, safe operation of the network

The left tail of the zero outcome is gone.”

-Ross Stevens

“What’s the chance of bitcoin going to zero??
What’s the chance of Christianity going to zero?”

-Ross Stevens

"For the first time in history, we have an electronic bearer asset AND an open-source monetary network. Together, it can achieve cash finality anywhere in the world, anytime 24/7/365, with liquidity in any currency pair you care about.”

@strike/ @JackMallers
-Ross Stevens

“It is awe-inspiring.

We live in a cynical age with so many people devoid of feelings of awe. It is beaten out of us. I’m grateful for many things about bitcoin. [...] It’s wonderful that I need not be among the people who are devoid of feelings of awe.”

-Ross Stevens

“Fiat should come with a warning label like cigarettes. Instead of [...] bad for your health, the fiat warning label would say [...] bad for your wealth.

The cigarette pack has skull and crossbones on the outside. I’d like to [...] the infinity sign on our cash."

-Ross Stevens

“Dimon calls it a fraud, yet it’s more real than fiat.

Fink calls bitcoin an index of money laundering. It’s more akin to an index of money printing.

Warren Buffett calls bitcoin rat poison.

That one is shameful, because bitcoin is giving life not taking it.”

-Ross Stevens

“You can stay on the fiat standard in which some people get to print new units of money in unlimited size (just not you) or you can move to the bitcoin standard in which no one gets to do that (including you)."

-Ross Stevens

"We finally have a monetary system governed by rules, not rulers. I’ve made my choice, everyone has to make theirs.”

-Ross Stevens

End of Thread

I literally could not quote everything I found insightful due to limits.

I highly encourage you to listen, then listen again. Share, then share again.

I could not be more grateful for this incredible discussion.

Thank you Michael Saylor. Thank you Ross Stevens.

Link to the full discussion: