Episode
#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
4:09:46
Published: Sat Apr 17 2021
Description
Robert Breedlove is a decentralized finance entrepreneur, philosopher, and podcaster. Please support this podcast by checking out our sponsors: - Fundrise: https://fundrise.com/lex - LMNT: https://drinkLMNT.com/lex to get free sample pack - Munk Pack: https://munkpack.com and use code LEX to get 20% off - BetterHelp: https://betterhelp.com/lex to get 10% off EPISODE LINKS: Robert's Twitter: https://twitter.com/Breedlove22 Robert's Linktree: https://linktr.ee/breedlove22 What is Money Show: https://www.youtube.com/c/RobertBreedlove22 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 (08:46) - Sovereignty (15:50) - Territorial imperative (20:28) - Property (26:33) - Anarchism (29:11) - Inflation is theft (33:35) - Volatility is truth (38:14) - Taleb and Bitcoin (42:22) - Life is information propagating through flesh (53:21) - Intelligence (57:34) - Space and time (1:04:16) - Pragmatic truth (1:15:14) - Creative destruction (1:19:03) - Capitalism vs Communism (1:31:46) - Jordan Peterson on religion (1:36:03) - Inflation (1:39:54) - What is money? (1:53:30) - What is Bitcoin? (2:04:36) - Bitcoin vs other cryptocurrencies (2:12:47) - Can governments ban Bitcoin? (2:25:29) - Bitcoin toxicity is tough love (2:38:47) - Crypto scammers (2:47:58) - Eric Weinstein and Bitcoin (2:54:21) - Satoshi Nakamoto (2:58:51) - Money is energy (3:06:05) - Proof of stake vs proof of work (3:08:45) - Morality (3:23:30) - Collapse of the Soviet Union (3:27:00) - Jordan Peterson and Bitcoin (3:39:28) - Book recommendations (3:58:49) - Advice for young people (4:02:20) - Love
Chapters
The host emphasizes his careful selection of guests not only based on the contents of their ideas, but the richness, complexity, music, style of their mind and character while exploring the history, philosophy, and future of money with an excellent conversationalist who is willing to listen and think.
00:00 - 02:54 (02:54)
Summary
The host emphasizes his careful selection of guests not only based on the contents of their ideas, but the richness, complexity, music, style of their mind and character while exploring the history, philosophy, and future of money with an excellent conversationalist who is willing to listen and think.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The speaker highlights the importance of consuming electrolytes when fasting and diversifying investments, especially when investing in volatile assets like cryptocurrency.
02:54 - 07:11 (04:17)
Summary
The speaker highlights the importance of consuming electrolytes when fasting and diversifying investments, especially when investing in volatile assets like cryptocurrency.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The concept of sovereignty is heavily tied to power and control over money, but individuals have their own interiorized space of choice that holds sovereignty, a freedom that exists in every individual which is independent of external factors like money and power.
07:11 - 14:04 (06:52)
Summary
The concept of sovereignty is heavily tied to power and control over money, but individuals have their own interiorized space of choice that holds sovereignty, a freedom that exists in every individual which is independent of external factors like money and power.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The notion of property is the socially acknowledged relationship of a human and an asset, whereby the individual has exclusive rights and responsibilities over that asset.
14:04 - 20:42 (06:37)
Summary
The notion of property is the socially acknowledged relationship of a human and an asset, whereby the individual has exclusive rights and responsibilities over that asset. Capitalism and communism operate at opposite ends of the spectrum, with capitalism placing emphasis on exclusive rights to the fruits of one's labor.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The monopolization of money by those in power allows for control of people's energy and perceptions, and inflation can be seen as a snooze button on the alarm of perfect information.
20:42 - 33:32 (12:50)
Summary
The monopolization of money by those in power allows for control of people's energy and perceptions, and inflation can be seen as a snooze button on the alarm of perfect information.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The construction of civilization involves converting the entropy of nature into order, creating a bubble of order amidst the chaos at the edges, against which entrepreneurs often rebel as a statement of sovereignty and freedom.
33:32 - 40:43 (07:10)
Summary
The construction of civilization involves converting the entropy of nature into order, creating a bubble of order amidst the chaos at the edges, against which entrepreneurs often rebel as a statement of sovereignty and freedom.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The question of whether consciousness can be cloned gets to the core of what it is to be human and ultimately leads to fundamental questions about the nature of consciousness itself.
40:43 - 48:48 (08:04)
Summary
The question of whether consciousness can be cloned gets to the core of what it is to be human and ultimately leads to fundamental questions about the nature of consciousness itself.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
Intelligence is closely linked to the ability to generate and mold ideas in a non-materialist view of reality, where what matters is human action.
48:48 - 55:02 (06:14)
Summary
Intelligence is closely linked to the ability to generate and mold ideas in a non-materialist view of reality, where what matters is human action. Ideas have people, not the other way around.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
In this podcast, the speaker discusses how humans generate the objective function that measures error correction and how it relates to machine learning.
55:02 - 1:00:27 (05:25)
Summary
In this podcast, the speaker discusses how humans generate the objective function that measures error correction and how it relates to machine learning. They also ponder on the definition of intelligence in the context of error correction.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
Could the notions of space and time be a silly, useful construct?
1:00:27 - 1:07:30 (07:02)
Summary
Could the notions of space and time be a silly, useful construct? This episode ponders the idea that we may be living in a world of many dimensions and that physics could be changed in ways we don't understand.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The creation of tools, like a shovel, and the use of price signals, help us satisfy human wants faster, cheaper and more effectively, as well as coordinate human action across time.
1:07:30 - 1:11:26 (03:55)
Summary
The creation of tools, like a shovel, and the use of price signals, help us satisfy human wants faster, cheaper and more effectively, as well as coordinate human action across time.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
This podcast discusses how a free market process generates pragmatic truths and how interfering with it can break down the trust in the market, leading to coercive actions against life, liberty or property.
1:11:26 - 1:22:54 (11:28)
Summary
This podcast discusses how a free market process generates pragmatic truths and how interfering with it can break down the trust in the market, leading to coercive actions against life, liberty or property. The speaker also questions if there are any aspects that don't work well in a free market system.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
This podcast explores how capitalism and communism, in their ideal forms, may be good for the world, but human nature tends to manipulate the system that ultimately creates more extreme long-run volatility, leading to larger and more devastating wildfires.
1:22:54 - 1:28:37 (05:42)
Summary
This podcast explores how capitalism and communism, in their ideal forms, may be good for the world, but human nature tends to manipulate the system that ultimately creates more extreme long-run volatility, leading to larger and more devastating wildfires.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The use of decentralized computing in free markets allows for accurate pricing and better data throughput as opposed to centralized planning models, which can lead to limited data.
1:28:38 - 1:36:23 (07:45)
Summary
The use of decentralized computing in free markets allows for accurate pricing and better data throughput as opposed to centralized planning models, which can lead to limited data. This model also prioritizes individual sovereignty over the state.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The monopolization of money increases the perception of scarcity, leading to a combative culture like cancel-culture.
1:36:23 - 1:42:43 (06:19)
Summary
The monopolization of money increases the perception of scarcity, leading to a combative culture like cancel-culture. Inflation caused by arbitrary fiat currency supply leads to a commonly misunderstood concept of scarcity.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
Gold is limited in terms of portability, so custody of it has gradually centralized into fewer warehousing operations.
1:42:43 - 1:49:54 (07:10)
Summary
Gold is limited in terms of portability, so custody of it has gradually centralized into fewer warehousing operations. This shortcoming led to the introduction of paper gold, which allows the trading of gold without having to physically possess it.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
Dan Tapiero explains how gold has been the base layer operating system for analog society, and how it satisfies the properties of money.
1:49:54 - 1:56:18 (06:23)
Summary
Dan Tapiero explains how gold has been the base layer operating system for analog society, and how it satisfies the properties of money. Despite the limited amount of gold in the world, it serves as a superior implementation of the ideas of money.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The podcast discusses different definitions of money and how gold became money because of its relative scarcity.
1:56:18 - 2:06:46 (10:27)
Summary
The podcast discusses different definitions of money and how gold became money because of its relative scarcity.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
Bitcoin combines the monetary properties of gold with the internet, making it a highly effective store of value.
2:06:48 - 2:14:54 (08:06)
Summary
Bitcoin combines the monetary properties of gold with the internet, making it a highly effective store of value. It is currently one of the most efficient ways to store value and is often referred to as digital gold.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The rise of the internet has shown that open source networks tend to outcompete closed source ones, which is why Bitcoin is so disruptive as it will ultimately devour closed source central bank monetary networks.
2:14:54 - 2:21:30 (06:35)
Summary
The rise of the internet has shown that open source networks tend to outcompete closed source ones, which is why Bitcoin is so disruptive as it will ultimately devour closed source central bank monetary networks. This supports the idea of open networks typically outcompeting closed networks.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
Bitcoin's cultural toxicity can be seen as a tough love mechanism to defend against bad ideas, but it becomes damaging when it attacks those with good intentions.
2:21:32 - 2:32:52 (11:20)
Summary
Bitcoin's cultural toxicity can be seen as a tough love mechanism to defend against bad ideas, but it becomes damaging when it attacks those with good intentions. It's important to approach new ideas with openness and constantly question oneself.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
Sometimes tough love can have negative effects just like an overactive immune system.
2:32:52 - 2:34:57 (02:05)
Summary
Sometimes tough love can have negative effects just like an overactive immune system. We are biologically programmed to pay more attention to adversarial and harmful things, but love remains a deep value.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The speaker reflects on the importance of effective communication and selfless action, even in cases of disagreement, and acknowledges his own shortcomings in creating real change.
2:35:01 - 2:42:03 (07:01)
Summary
The speaker reflects on the importance of effective communication and selfless action, even in cases of disagreement, and acknowledges his own shortcomings in creating real change. Additionally, he notes how people's financial wellbeing is often tied to the success of cryptocurrencies such as Bitcoin.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
In this podcast episode, the speaker discusses how money affects human morality and how fixing the current monetary system could have a positive impact on society.
2:42:03 - 2:48:31 (06:28)
Summary
In this podcast episode, the speaker discusses how money affects human morality and how fixing the current monetary system could have a positive impact on society.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The guest speaker discusses gauge theory, its applications in economics, and the challenges associated with understanding Bitcoin.
2:48:31 - 2:53:30 (04:58)
Summary
The guest speaker discusses gauge theory, its applications in economics, and the challenges associated with understanding Bitcoin.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The podcast discusses the impact of power on communication and the analysis of communication of people in power, such as Elon Musk, from a religious perspective.
2:53:30 - 2:58:39 (05:09)
Summary
The podcast discusses the impact of power on communication and the analysis of communication of people in power, such as Elon Musk, from a religious perspective.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
In this podcast, the speaker talks about his perspective on energy as a tool for life and explores how it is connected with money as well.
2:58:39 - 3:05:54 (07:15)
Summary
In this podcast, the speaker talks about his perspective on energy as a tool for life and explores how it is connected with money as well. He also discusses how learning to isolate energy can be a powerful tool.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The conversation dives into the intricacies of how Bitcoin mining works, the thermodynamics behind it, and the potential limitations of alternative systems like proof of stake.
3:05:54 - 3:11:32 (05:37)
Summary
The conversation dives into the intricacies of how Bitcoin mining works, the thermodynamics behind it, and the potential limitations of alternative systems like proof of stake. They also compare the societal dynamics of wolf pack behavior to the morality behind using tools like money for good or evil purposes.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The effects of inflation on the economy and how it impacts a winemaker's business.
3:11:33 - 3:23:14 (11:41)
Summary
The effects of inflation on the economy and how it impacts a winemaker's business.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The speaker discusses the impact of Stalin's decision to eliminate 75% of his intelligence force, as well as the role of capitalism in outcompeting communism by generating more wealth, and the dismissal of Bitcoin by those in power.
3:23:14 - 3:31:54 (08:39)
Summary
The speaker discusses the impact of Stalin's decision to eliminate 75% of his intelligence force, as well as the role of capitalism in outcompeting communism by generating more wealth, and the dismissal of Bitcoin by those in power.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
In this podcast, the host questions whether the people in control of central banks are malevolent or merely passive actors, and discusses the role of elites and the possibility of evil individuals in gaining and abusing power.
3:31:54 - 3:38:00 (06:05)
Summary
In this podcast, the host questions whether the people in control of central banks are malevolent or merely passive actors, and discusses the role of elites and the possibility of evil individuals in gaining and abusing power.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
This episode dives into the development of mythology over the course of history and how it is reflected in our social structures and our intra-psychic nature.
3:38:02 - 3:46:52 (08:50)
Summary
This episode dives into the development of mythology over the course of history and how it is reflected in our social structures and our intra-psychic nature. The host recommends books to diffuse the materialist worldview of reality and recommends a book for understanding economics at a first principles level.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
Podcasts can provide a mental distraction while also helping listeners retain information and process ideas.
3:46:52 - 3:54:06 (07:13)
Summary
Podcasts can provide a mental distraction while also helping listeners retain information and process ideas. Personal highlights from the podcasts can have an emotional impact and serve as a shock to memory, improving the overall listening experience.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
The podcast discusses how practicing empathy through love and proper moral action can help individuals connect with the world and act in reflection of the fundamental nature of reality.
3:54:06 - 4:08:40 (14:33)
Summary
The podcast discusses how practicing empathy through love and proper moral action can help individuals connect with the world and act in reflection of the fundamental nature of reality. The speaker also reflects on personal regret and how prioritizing well-being and personal growth can lead to a more fulfilled life.
Episode#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
PodcastLex Fridman Podcast
Robert Breedlove shares his philosophical views on Bitcoin, morality and money in a conversation with Lex Fridman.
4:08:40 - 4:10:00 (01:19)
Summary
Robert Breedlove shares his philosophical views on Bitcoin, morality and money in a conversation with Lex Fridman.