Episode
#171 – Anthony Pompliano: Bitcoin
3:08:49
Published: Thu Mar 25 2021
Description
Anthony Pompliano is an entrepreneur, investor, writer, and podcaster on topics of decentralized finance. Please support this podcast by checking out our sponsors: - Theragun: https://theragun.com/lex to get 30 day trial - Sun Basket: https://sunbasket.com/lex and use code LEX to get $35 off - ExpressVPN: https://expressvpn.com/lexpod and use code LexPod to get 3 months free - Indeed: https://indeed.com/fridman to get $75 credit EPISODE LINKS: Anthony's Twitter: https://twitter.com/APompliano Anthony's YouTube: https://www.youtube.com/c/AnthonyPompliano Anthony's Website: https://anthonypompliano.com/ Pomp Letter: https://pomp.substack.com/ Pomp Podcast: https://anthonypompliano.com/podcast/ PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ YouTube Full Episodes: https://youtube.com/lexfridman YouTube Clips: https://youtube.com/lexclips SUPPORT & CONNECT: - Check out the sponsors above, it's the best way to support this podcast - Support on Patreon: https://www.patreon.com/lexfridman - Twitter: https://twitter.com/lexfridman - Instagram: https://www.instagram.com/lexfridman - LinkedIn: https://www.linkedin.com/in/lexfridman - Facebook: https://www.facebook.com/lexfridman - Medium: https://medium.com/@lexfridman OUTLINE: Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time. (00:00) - Introduction (08:54) - Army (16:35) - Iraq (24:14) - Will there always be war? (31:27) - Bitcoin maximalism (39:56) - Money is a belief system (42:27) - Bitcoin (46:03) - Censorship (50:35) - Bitcoin as main currency (59:27) - Scarcity creates value (1:01:08) - Money is time (1:09:34) - Eric Weinstein vs Bitcoin Community (1:23:23) - Ray Dalio (1:40:31) - Bitclout (1:43:43) - How to get Bitcoin (1:54:28) - Investing (2:05:05) - Volatility (2:18:08) - Philosophy of the meme (2:28:03) - Dogecoin (2:37:33) - NFTs (2:43:21) - Virtual reality (2:48:17) - AI (2:54:18) - Bitcoin resources (2:58:44) - Book recommendations (3:01:22) - Can money buy happiness? (3:03:16) - Meaning of life
Chapters
This podcast is a conversation with Anthony Pompliano covering topics such as finance, cryptocurrency, technology and economics with a focus on exploring exciting ideas in the space of technologies that could change human civilization and AGI civilization as well.
00:00 - 02:23 (02:23)
Summary
This podcast is a conversation with Anthony Pompliano covering topics such as finance, cryptocurrency, technology and economics with a focus on exploring exciting ideas in the space of technologies that could change human civilization and AGI civilization as well.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
Indeed helps in filtering job candidates to dedicate your attention to the truly exceptional ones.
02:23 - 08:24 (06:01)
Summary
Indeed helps in filtering job candidates to dedicate your attention to the truly exceptional ones. Hiring people who demonstrate meticulous attention to detail and innovation can create a rewarding working environment.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
In this podcast, the guest discusses the impact of 9/11 on American society and how it affected the world of football.
08:24 - 17:28 (09:03)
Summary
In this podcast, the guest discusses the impact of 9/11 on American society and how it affected the world of football. He talks about the security theater that followed the event and the realization that the US may not be as secure as once thought.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
The nature of warfare has shifted to information and cyber warfare, and the use of small, specialized teams over large armies.
17:28 - 25:55 (08:26)
Summary
The nature of warfare has shifted to information and cyber warfare, and the use of small, specialized teams over large armies. Local knowledge and support is crucial for success in modern warfare.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
In this podcast, the host discusses the question of inherent goodness or badness based on different scenarios and intentions of individuals.
25:55 - 35:35 (09:39)
Summary
In this podcast, the host discusses the question of inherent goodness or badness based on different scenarios and intentions of individuals.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
The cryptocurrency community should not rely on tribalism; instead, the market will determine what is most valuable in the future.
35:35 - 42:22 (06:47)
Summary
The cryptocurrency community should not rely on tribalism; instead, the market will determine what is most valuable in the future. This world is split into two major groups of people trying to build very different things: digital assets and cryptocurrencies.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
In this episode, the speakers discuss the future of Bitcoin and its place in the global economy.
42:22 - 49:56 (07:34)
Summary
In this episode, the speakers discuss the future of Bitcoin and its place in the global economy. They examine whether it will become a global currency or remain a store of value.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
Bitcoin providing access to anyone with an internet connection to a store of value and monitoring network, allowing opting out of the current system.
49:56 - 55:09 (05:13)
Summary
Bitcoin providing access to anyone with an internet connection to a store of value and monitoring network, allowing opting out of the current system. It has the potential to become the main currency in the world due to its democratizing effect on finance.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
While historically gold has been a safe haven during times of financial crisis, it has been struggling during the COVID-19 pandemic.
55:09 - 1:01:34 (06:24)
Summary
While historically gold has been a safe haven during times of financial crisis, it has been struggling during the COVID-19 pandemic. Meanwhile, Bitcoin and other digital assets are gaining traction among not only retail investors but also financial institutions and corporations.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
Bitcoin offers a finite, secure store of value that can hold and appreciate over time, making it essential for wealth generation and preservation over a long period.
1:01:35 - 1:09:31 (07:56)
Summary
Bitcoin offers a finite, secure store of value that can hold and appreciate over time, making it essential for wealth generation and preservation over a long period. This concept of sound money is particularly important to the wealthy who have time on their side.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
A number of hedge fund managers and intellectuals with a deep understanding of Bitcoin technology have been playing with the cryptocurrency's ideas.
1:09:31 - 1:18:07 (08:35)
Summary
A number of hedge fund managers and intellectuals with a deep understanding of Bitcoin technology have been playing with the cryptocurrency's ideas. Eric is an example of this and is incredibly intelligent, which has allowed him to navigate this journey successfully.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
Memes have become a powerful tool in the world of modern media, often used for the asymmetry of power and destruction of narratives.
1:18:07 - 1:27:34 (09:27)
Summary
Memes have become a powerful tool in the world of modern media, often used for the asymmetry of power and destruction of narratives. While good vibe memes can spread love, shitposting can be seen as an ineffective approach to creating online discourse.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
As technology continues to innovate, all currencies in the world will become digital, giving people the ability to convert between them with a simple click.
1:27:34 - 1:36:05 (08:30)
Summary
As technology continues to innovate, all currencies in the world will become digital, giving people the ability to convert between them with a simple click. This new age of digital finance will include both centralized currencies like digital dollars and decentralized currencies like Bitcoin.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
The current financial system forces individuals to act as accountants, hindering their ability to focus on providing value and exchanging services.
1:36:05 - 1:44:44 (08:39)
Summary
The current financial system forces individuals to act as accountants, hindering their ability to focus on providing value and exchanging services. Many are trying to create a future world where data can be converted into money so people can exchange their private data for free services with explicit transactions taking place for transparency.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
Learn about the different options for storing cryptocurrency including exchange software wallet, hardware wallet, and cold storage.
1:44:45 - 1:51:40 (06:55)
Summary
Learn about the different options for storing cryptocurrency including exchange software wallet, hardware wallet, and cold storage. Cold storage is recommended to protect against compromise or control by third parties.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
Bitcoin's finite supply and scarcity make it a potentially valuable long-term investment as it stands out from a world where everything else is being devalued, says the speaker.
1:51:41 - 1:57:34 (05:53)
Summary
Bitcoin's finite supply and scarcity make it a potentially valuable long-term investment as it stands out from a world where everything else is being devalued, says the speaker.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
If the world was denominated in Bitcoin, people would behave differently and society would be less focused on consumption, according to this podcast.
1:57:34 - 2:01:31 (03:56)
Summary
If the world was denominated in Bitcoin, people would behave differently and society would be less focused on consumption, according to this podcast. However, there is a false equivalency between growth and sound money, and the belief that people need to consume or end up at the bottom economically needs to be reevaluated.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
Instead of trying to time the highly volatile cryptocurrency market, a simple approach is to purchase Bitcoin every two weeks after receiving a paycheck, which will average out the cost over a long period of time.
2:01:31 - 2:06:37 (05:06)
Summary
Instead of trying to time the highly volatile cryptocurrency market, a simple approach is to purchase Bitcoin every two weeks after receiving a paycheck, which will average out the cost over a long period of time.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
The potential for Bitcoin's market cap to reach $20 trillion and the possibility of it hitting a million dollars, even if it doesn't capture the full 10X or 100X improvement from a technology standpoint, is discussed.
2:06:37 - 2:11:59 (05:22)
Summary
The potential for Bitcoin's market cap to reach $20 trillion and the possibility of it hitting a million dollars, even if it doesn't capture the full 10X or 100X improvement from a technology standpoint, is discussed.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
Bitcoin's verifiable proof of supply and programmatic supply shock make it unique compared to other assets.
2:11:59 - 2:17:46 (05:47)
Summary
Bitcoin's verifiable proof of supply and programmatic supply shock make it unique compared to other assets. These features allow for better assessment of supply and demand, making it easier to predict shocks and plan investments.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
The society has become coddling which leads to tribalism and misuse of communication, like shit coins.
2:17:46 - 2:23:17 (05:31)
Summary
The society has become coddling which leads to tribalism and misuse of communication, like shit coins. People adopt memes that may have been brilliant but using them ineffectively leads to an attack towards others.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
The Bitcoin community should welcome constructive criticism as a way to foster healthy dialogue and growth.
2:23:17 - 2:27:36 (04:19)
Summary
The Bitcoin community should welcome constructive criticism as a way to foster healthy dialogue and growth. By presenting data points and examples, Bitcoiners can challenge ideas and address misinformation in a way that's productive and effective.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
Venture capitalist, Anthony Pompliano, acknowledges Elon Musk's understanding of internet culture, memes, and marketing, emphasizing his appreciation of irony in the world.
2:27:36 - 2:32:05 (04:28)
Summary
Venture capitalist, Anthony Pompliano, acknowledges Elon Musk's understanding of internet culture, memes, and marketing, emphasizing his appreciation of irony in the world. Pompliano believes that Elon Musk is an inspiration to many to develop self-confidence and growth while discussing Dogecoin, Techno King of Tesla, and Master of Coin.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
The ability to see the big picture and think about the world in the long term is crucial to predicting the future.
2:32:05 - 2:39:49 (07:43)
Summary
The ability to see the big picture and think about the world in the long term is crucial to predicting the future. This is especially important in the technology and startup world where innovations and advancements can rapidly change the industry.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
As we move towards a more virtual and digital world, the economy is also moving towards digital goods in the form of art, sculptures, skins from video games, and other purchases made online.
2:39:49 - 2:46:11 (06:21)
Summary
As we move towards a more virtual and digital world, the economy is also moving towards digital goods in the form of art, sculptures, skins from video games, and other purchases made online. We may soon experience multiple geographies in a virtual world with the ability to take digital goods from one location to another, leading to a larger digital economy than the traditional art world.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
The digital world offers artificial intelligence systems the ability to operate with much more power and scale at a very programmatic way, allowing them to make decisions without requiring every potential scenario to be considered.
2:46:12 - 2:54:22 (08:09)
Summary
The digital world offers artificial intelligence systems the ability to operate with much more power and scale at a very programmatic way, allowing them to make decisions without requiring every potential scenario to be considered. However, the risk of malicious actors still exists, and it must be managed accordingly.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
The speaker suggests that going back to original documents like old white papers have value and can be interesting to understand what people were thinking about in the past.
2:54:22 - 3:02:07 (07:45)
Summary
The speaker suggests that going back to original documents like old white papers have value and can be interesting to understand what people were thinking about in the past. However, he didn't implement any of the ideas from those documents in his execution.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
The pursuit of economic means often hinders people from doing what they actually want in life, which is why having resources to control your time is the ultimate key to happiness, as opposed to just having more money or working to provide a living.
3:02:08 - 3:07:20 (05:12)
Summary
The pursuit of economic means often hinders people from doing what they actually want in life, which is why having resources to control your time is the ultimate key to happiness, as opposed to just having more money or working to provide a living.
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
The host thanks Anthony Pompliano for his education about new technologies and their potential to change human civilization.
3:07:21 - 3:08:29 (01:08)
Summary
The host thanks Anthony Pompliano for his education about new technologies and their potential to change human civilization. The episode ends with a quote from Mahatma Gandhi about freedom.