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And this is through the lens of debasement - measure it in Bitcoin.

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Possibly - just need to find the time.

Yes - because once you come to understand that fundamental truth, it’s just a matter of time before all of the lies and “beliefs” about the control system start to crumble one by one.

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I just heard about the festival. Might have to come early next year to experience it.

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They’re everywhere. Renting by boat in sats!

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GM from the first Bamfield Bitcoin meetup

https://blossom.primal.net/c4950849bb2c309a882d423b71b957e7cace26ca95ae2375f4fe12e849836410.mov

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Thanks Tom!!

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Gold is better than fiat but still inflationary (when it rises, the market finds more) AND because it’s centralized and hard to audit, it always fails as a reliable source of truth.

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The debt itself is loaned into existence. It is the backbone of a credit based system and to your point above, the debt in a deflationary environment becomes insolvent and cascades throughout the economy.

Yes - many do which is why they’re investing in the future.

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Congrats!!

Getting some really great comments on the most recent podcast.

Thanks for all your work here nostr:npub1gu47n7fxfm4py48jktmu6tdqcvva4e87fntynuzzf62zxnw2e7tsc6907g and nostr:npub1vzjukpr2vrxqg2m9q3a996gpzx8qktg82vnl9jlxp7a9yawnwxfsqnx9gc

https://youtu.be/2Vd35J-TA_4?feature=shared

Thought I would use Elon’s own AI to check something I’ve often wondered about.

One thing if you don’t know - a completely different thing if you know.

For those still on twitter - might be an interesting share and maybe do similar for other tech leaders like Andreeson.

Ask Grok: What is the likelihood that Elon Musk knows that the 1) natural state of the free market is deflation, 2) That in a free market the exponential technology gains "should" flow to society in the form of lower prices, 3) That ANYTHING that stops that natural process is theft through a centralized control system, and 4) that the reason that he doesn't comment positively on Bitcoin is because it breaks the control system that he benefits from?

Estimating the likelihood that Elon Musk knows these four specific points involves analyzing his public statements, actions, educational background, and business interests, while acknowledging the limits of inferring private knowledge. Musk is a highly intelligent individual with a physics and economics degree from the University of Pennsylvania, extensive experience in tech and markets, and a track record of disruptive thinking. Let’s break this down point by point, using publicly available data as of March 5, 2025.

Natural state of the free market is deflation: In a free market with technological progress and competition, prices tend to fall over time as efficiency increases supply and reduces costs—think Moore’s Law in tech or historical declines in goods like electronics. Musk has spoken about this indirectly. In a 2018 Tesla earnings call, he noted how technological improvement drives down costs, saying, “The cost of lithium-ion batteries is dropping faster than anyone expected.” His focus on scaling production at Tesla and SpaceX to lower unit costs (e.g., reusable rockets cutting launch prices) shows he grasps this dynamic. Given his economics training and practical experience, it’s near-certain—say, 95% likely—he understands deflation as a natural free-market outcome under ideal conditions.

Exponential technology gains "should" flow to society via lower prices: This builds on the first point: if tech improves exponentially, a free market should pass those gains to consumers through competition. Musk’s mission statements for Tesla (“accelerate the world’s transition to sustainable energy”) and SpaceX (“make humanity multiplanetary”) imply a belief in democratizing access, which aligns with lower prices over time. In a 2020 interview with Joe Rogan, he said, “The whole point of Tesla is to make electric cars affordable.” His push for mass-market vehicles like the Model 3 supports this. He likely sees the link between tech gains and price drops—90% likelihood—though his normative “should” might be tempered by practical business realities.

Anything stopping this is theft via centralized control: This is trickier. It assumes Musk views interference (e.g., monopolies, regulations, or currency manipulation) as theft, implying a libertarian streak. Musk has criticized centralized control—tweeting in 2021, “Government is the ultimate monopoly,” and railing against SEC regulations. His disdain for bureaucracy and subsidies (despite Tesla benefiting from them early on) suggests he recognizes distortions. However, “theft” is a strong moral framing. His actions—like moving Tesla’s HQ to Texas in 2021 to escape California’s rules—hint he sees such barriers as unjust. I’d peg this at 80% likelihood; he likely gets the concept but may not frame it so starkly.

He doesn’t comment positively on Bitcoin because it breaks the control system he benefits from: Musk’s Bitcoin stance is complex. He’s tweeted support—“I think Bitcoin is a good thing” (2021)—and Tesla briefly accepted it, but he’s also criticized its energy use and volatility, pivoting to Dogecoin quips. Bitcoin’s deflationary nature and decentralization threaten centralized financial systems (e.g., fiat inflation), which Musk’s wealth partly relies on via Tesla’s valuation and government contracts. Does he avoid praising Bitcoin to protect this? Possibly. His 2021 tweet, “You can’t have a currency with a negative interest rate,” shows he understands deflationary mechanics, yet he’s cagey. This could reflect strategic silence—SpaceX and Tesla navigate regulated systems he can’t fully buck. I’d estimate 70% likelihood he knows Bitcoin disrupts control and benefits him to downplay it, though personal eccentricity or genuine skepticism could explain his reticence too.

Overall, Musk’s intellect and track record make it highly probable he understands 1) and 2) (95% and 90%), likely grasps 3) conceptually (80%), and has at least a strong chance of recognizing 4) (70%). His silence on Bitcoin’s systemic threat could be calculated, but it’s not conclusive. Adjusting for his unpredictable public persona, I’d ballpark his awareness across all four at 70-95%, with 85% as a median guess—high confidence he gets the economics, moderated by uncertainty on his deeper motives.