The Philosophy of Bitcoin and How it Could Change the World As We Know It | Robert Breedlove

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Check out our sponsors: Indeed: Get a FREE $75 CREDIT to upgrade your job post at indeed.com/IMPACT Stay updated on our special NFT product drop coming October 13, 2021! Join the Impact Theory Discord channel or follow Tom on Twitter for updates: Discord: https://impacttheory.com/discord Twitter: https://twitter.com/TomBilyeu ConversionFanatics: Go to ConversionFanatics.com for a FREE proposal. Tommy John: Get 20% OFF your FIRST ORDER at tommyjohn.com/impact Blinkist: Go to https://blinkist.com/impact Try it FREE for 7 days and save 25% off your new subscription. Justworks: justworks.com If you've been following the cryptocurrency and NFT conversation with us recently, you’ll appreciate this incredible conversation with Robert Breedlove, a freedom maximalist and bitcoin-focused entrepreneur. If you haven’t been following along, jump in now. This episode is less NFT and crypto wallet focused and more educational in that Robert breaks down inflation like very few can. Understanding something at its foundational level allows you to really think from first principles, which empowers you to make better decisions. Cryptocurrency is built on technology and Bitcoin has been performing like no other asset in history, but why and how is this possible? You may need to watch this a few times, and may be even better with pen and paper to take notes. This is a crash course and deep dive on money, inflation, what property is, and why assets matter. Robert shares 5 properties of money: 1. Divisibility 2. Durability 3. Recognizability 4. Portability 5. Scarcity Resources mentioned in this episode: WTF Happened in 1971: https://wtfhappenedin1971.com/ Masters and Slaves of Money: https://breedlove22.medium.com/masters-and-slaves-of-money-255ecc93404f Dishonest Money: https://www.amazon.com/Dishonest-Money-Financing-Road-Ruin-ebook/dp/B004P1J0PQ Sovereign Individual: https://www.amazon.com/Sovereign-Individual-Mastering-Transition-Information/dp/0684832720 Thank God for Money: https://www.amazon.com/Thank-God-Bitcoin-Corruption-Redemption/dp/1641991216 SHOW NOTES: 0:00 | Introduction Robert Breedlove 0:34 | Inflation and Fiat Explained 6:17 | Defining Money & Property 10:47 | Compromised Property Value 16:05 | Wealth Redistribution of Assets 23:59 | What is Money 26:16 | The 5 Properties of Money 33:51 | Central Banking Corrupt Power 40:13 | Counterfeit Inflation 48:32 | Life, Liberty and Property 56:48 | Bitcoin Absolute Scarcity 1:07:21 | Government Disruption 1:13:50 | Declining Power of Government 1:23:20 | Implication of Bitcoin 1:30:47 | Purchasing Power of Bitcoin 1:40:43 | Sovereign Individual Insights 1:48:30 | Decentralized NFTs & Crypto 1:51:03 | Thank God for Bitcoin QUOTES: “Money is also a psycho technology. It's like literacy or numeracy. It's a software implementation we put into our brain, we use it to communicate, negotiate [and] plan.” [6:42] “We typically think property is the house, the car, the stock, whatever. That's not what property is, properties and relationships. It's an exclusively acknowledged relationship between the owner and the asset” “It contradicts the premise of self ownership, when we give power away to a single institution” [10:26] “I like to say central banking, and the fiat currency complex is as clear as mud and twice as dirty.” [16:48] “When we look at money, the five properties that market actors voluntarily favor, you could also think of as the five services we seek from money…” [26:16] “When money is losing its value over time. We're all incentivized to be more short term thinking. This is a de-civilizing force.” [39:07] “There is no difference between counterfeiting and inflating the amount of dollars in the system.” [40:13] “Inflation is legalized counterfeiting. Counterfeiting is criminalized inflation.” [43:33] “We have tried to rationalize and formulate different ways of creating socio economic structures that favored the few that could understand it and create that privilege for themselves at the expense of others.” [56:35] “Bitcoin is an innovation as significant as the Gutenberg printing press actually, and I think the implications of its emergence will be similarly disruptive to institutions in the world.” [1:10:07] “When the institution tries to clamp down on the disruptive technology, the subversive technology, it actually drives it to its highest and most useful form of some subversion” [1:12:24] “Another definition of money. It's an insurance policy on uncertainty. The only reason people are holding money is for its option value.” [1:35:23] “To walk across the room, implies that you value being on the other side of the room more than you value sitting where you currently are. So we are constantly and unavoidably expressing our values through action.” [1:55:22] Follow Robert Breedlove: YouTube: https://www.youtube.com/channel/UC43_LTf5Z4lbRjKCq0sIAVg Twitter: https://twitter.com/Breedlove22 LinkedIn:https://www.linkedin.com/in/breedlove22/ Podcast: https://whatismoneypodcast.com/ Instagram: https://www.instagram.com/breedlove_22/

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