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Transcript from โ€œBitcoin: Rules without Rulers - A Bitcoin 101 for Sovereign-Minded Individuals - AnarCon 2023โ€

Hello everybody. I thought about what I would start this talk with, and

I think the title of this event, right, or not event, we're just here for a reason, right,

it's not an event, but it's anarchy, right, like what does anarchy mean? Anybody? No rulers.

No rulers, right. But that doesn't mean without rules, right? There are rules here at AnarCon,

there are the rules of nature that we must abide by, there are the rules of physics that we must

abide by, but those rules are not imposed, you know, those are imposed on us by something greater

than ourselves, that are outside of our control. And the rules here, right, they might be imposed

by Kal and his goon squad, but we all agree to those rules because we want to be a part of that,

right, we choose those rules, and we choose that, you know, there's no ruler, like he might be the

warlord of AnarCon, but he's not the ruler here, we are all sovereign individuals to do as we please,

but we still agree on a set of rules. So how do you do that with the money?

Right, because our current money, and I say ours, you know, people that live in the United States

of America, our current money is, well there's a lot of rulers there, right, there's an oligarch

of rulers that control what happens with the money, it's the biggest

price control, and I'm sure everybody's familiar with why price controls are bad.

So why is it that the basis of our society is price controlled? Our money is price controlled,

the cost of capital set by the Federal Reserve and the behind-the-scenes shadowy puppets

that are the banks.

That doesn't sound very nice as a as a sovereign individual, to have something that is used to

measure my value as an individual to a certain degree, right, like I would argue that your word

is worth more, but a lot of people their net worth is what? Denominated in dollars.

Your labor, denominated in dollars. Who works for, you know, bananas by the hour? Nobody here.

You might be able to find some other arrangement, barter's fantastic,

but money is the what ties the society together. It ties us together at a global level, right,

whether we like it or not, the U.S. dollar is still the global reserve currency,

but it is controlled by few and used by the many, including sovereign individuals.

So we're here to talk about the b-word, Bitcoin, right, and it is, there is no head of Bitcoin,

there's no CEO, there's no marketing team. Paul's on the marketing team because he's wearing a

t-shirt. I'm on the marketing team because I'm speaking with you, but there's nobody that

Congress can call before them to talk about the ESG compliance of Bitcoin, right, because it's

it's a network of individuals voluntarily agreeing on a set of rules. It is rules without rulers,

right, and you don't have to agree with

them, you don't have to play the game, it is voluntary. I will not force you to use Bitcoin,

no one else will force you to use Bitcoin, but if you want to use a money that is censorship

resistant because somebody doesn't like you at the banks, you need internet, you need electricity,

you need the right software, and you can operate Bitcoin and nobody can stop you.

They can censor you, they can prevent you physically, but you have that optionality.

Choosing a money is much more empowering than having it forced on you, and honestly,

the money that you choose that is digital, what does that bring you, like what is digital, right,

because a lot of people say like, oh digital gold, I'm sure there's tons of gold bugs here,

and for this I do like gold, however, I can't send gold to Uganda to support my friend Jeff to go,

you know, to an orphanage in another part of his country

to help bring food there and talk about Bitcoin and education and stuff like that,

but I can do that with Bitcoin, I can't do that with gold. I could do that with gold,

but I'd have to bribe or I'd have to fill out some customs form and probably bribe somebody

overseas to make sure that it gets to the person that's there, and then, I mean, how much am I

sending him, right, or how much do I hold as a sovereign individual. I can hold my Bitcoin in my

head, there's this concept of recovery seed phrases, it's like 12, 24 words that you can

store in your head, right, if you're not a theater major, I can teach you how to remember these

things. I'm not a theater major, but I did that once, but these 12 words that you can hold in

your head allow you to recover the keys to your Bitcoin that you can access it. So, when some

women were fleeing the country of Afghanistan because the Taliban retook control and implemented

Sharia law and, you know, decided that women were now property and they could not own their own

property, some of them fled. Those that fled with a suitcase full of cash, I don't know if they still

have that cash, but I can guarantee you there are a few stories out there that you go to read the

news articles about that they left with their Bitcoin and when they got to Europe or wherever

they were going, they got back online and they punched in those 12 words and they had access to

their wealth again. That's, I mean, that's empowering. Where else can you do that? You can't do that with

gold, you can't do that with cash, you can't do that with chickens, cows, bananas, whatever you have.

So, as a sovereign individual, what I hope that you get from this speech is not that Bitcoin is

the end-all be-all because it might not be, but I hope that you will be curious enough to revisit it

if you've visited it before or think about it in a different light. It's not just a bunch of charts

that go up and down, it's not just a bunch of memes, it is a way to empower individuals.

If you are sovereign in your money,

like, you can hold on a pile of cash, but that cash can be debased. It's constantly being debased,

right? That's why it's not good to hold on to a mattress full of cash over a long period of time.

Bitcoin is a finite supply, 21 million, that is mathematically guaranteed as long as you are

running the correct software. You choose what software you're running. If you don't understand

it, if you don't understand the software, you could learn it if you so desired,

or you can trust those that have done the due diligence that know that that is true.

And then when you have that cap of 21 million, if I'm a sovereign individual and I own one percent,

it doesn't matter if we decide to split Bitcoin even further, right? So,

you can split one Bitcoin into 100 million pieces, they're called sats or Satoshis.

Well, if we wanted to split that into 100 million more pieces, you know, add some more

zeros before the decimal point, we could. That does not dilute the value of the Bitcoin that I hold,

because I still maintain the same percentage.

And as a sovereign individual, that is powerful. Nobody is diluting the value that I have given to

society that I have then thus converted into Bitcoin, because you cannot dilute it.

You cannot shut it down. You can ban it. China's tried that. A couple of other countries have tried

that. It's still operating in those countries, because you need software, electricity, and the

internet, which is pretty readily available across the world these days. And so, if a node goes down

here or there, if Virginia decides that they don't like Bitcoin and they want to ban it all here,

well, guess what? They can come to my basement and shut it down. But they're not going to find

the other nodes that I'm running, right? So, again, I would just want to,

I wanted to give this speech not to convince you that Bitcoin is the end-all, but to hopefully

engage some of your intellectual curiosity, which I imagine everybody here has that. We all ask

questions, why, right? In one way, shape, or form, if you are at AnarCon, you realize this system

is broken. What part of the system is broken depends on each individual, because each

individual here does not understand the same part of the same system, right? Like, the system that

I think, the piece of the system that I think is broken might not be the same piece of the system

that you think is broken. But guess what? We all need money. We all need a common medium to

communicate for value. And when we can agree on that common medium, when we can share the same

values, when we can follow the same rules without being forced to, without the rulers,

it makes it a whole lot easier. Thank you.

https://youtu.be/9vNaKBnbiqY?si=yW4bRklBSKyzedJJ

I did a talk about bitcoin at AnarCon. Sorry for the sideways shot. Idk how to edit things. ๐Ÿคทโ€โ™‚๏ธ

๐Ÿ˜ž

I has no server. At least not for public consumption.

Best way to post a 9min video on nostr?

GM Frenz of Nostr. Be well today.