Balaji S Srinivasan is an angel investor and entrepreneur, formerly the CTO of coin base and general partner at Andreessen Horowitz.
He was also the co founder of earn dot com which was acquired by coin based council.
He has been named to the M. I. T. Technology reviews innovators under 35.
Most recent project is giving out Bitcoin btc each day for completing tasks and tutorials subscribers also receive chapters from Biology's free book, the Network State.
In many ways in 1991 The US was the hyperpower after the collapse of the Soviet Union.
It was a hyper power that could win everywhere without fighting.
And in many ways the combination administrations over the last 30 ish years have blown maybe the biggest lead in human history now.
It fights everywhere without winning.
So that's a very unfortunate thing, especially for the Afghans are now subject this medieval regime.
I will just kind of download content and then pause and then you, you know, jump in.
And you will be met mostly with silence or I'm not familiar if my if my last performance is any indication, but I appreciate the pause is yes.
I can raise my hand like a student and then request pause, but yes, please proceed.
The U.S.
Percent of global GDP that's been dropping basically for the last 40 years.
Whereas India and china's share in particular has been rising you know actually as of 2019 Mckinsey had a report on this but ASIA was more than 50% of GDP I believe By 2019 on certainly p. p.p.
p terms and I think it's going to pass for has already passed soon.
A couple of books I'll recommend there's the U.S. Loses now why do it's likely it's quite likely that the US loses now.
The U. S. has a quote in there that is over the past decade in which there is the past in there in which parts of there are classified classified.
India had been floating like a crypto ban in january thereabouts.
But now near Mamacita Ramen who's the finance Minister of India has made good comments on this in public.
And over the last nine months indian crypto is just absolutely exploded.
There's coin switch slash Uber and a bunch of these exchanges, I won't remember all of them.
This is related to that N Y T C C C B B T C triangle that we talked about last time which is Whoa Capital.
Communist capital says you must submit that the Communist Party, they're strong, you're weak, they have power.
Capital says it is because you are powerful because you're wide or male or straight or says you have or you're rich or something.
You have power and therefore you must sympathize.
You must apologize, you must bend your your eyes down, your eyes are downcast, your head is bent but it ends in the same position of submission as Communist capital.
The woke capital corner of the triangle and N Y T corner is the opposite of sovereignty.
The opposite of that where nobody submits is san Francisco where you can walk in and they've legalized crime, anything under 9 50 or something, you can chop it from Walgreens.
You go in and help yourself walk out repeat it.
We are already in the midst of what we might call reputational civil war in the US which is just going to intensify and it's gonna get a lot worse once we have ai driving additional misinformation and so on.
It's gonna be a hell of a thing which is not that far off I don't think.
But where do you see The us going in the next say 3-5 years if we can constrain a little bit because I know it may be easier to go to say 15 directionally.
Bitcoin is moving off exchanges prices, moving up ecosystem, building out having this constraint supply supply the all time high may be just the beginning, which turned out to be true.
Cryptocurrency is a massively scalable application right to park your money and get money back and defy offers insane interest at very high risk.
You can put in a million bucks and get like $100,000 a year or more in interest.
Any machine can call any other machine via an I.P.
Address.
You go from a human bank account to a Cryptocurrency address.
You know telephone number is a human associated thing.
As trust in society decreases, it is harder and harder to maintain a scaled organization of human beings.
So I think the answer is going to be robotics.
How do those things relate?
Well, when you give a robot instructions to go and unpack a box, it just doesn't, there is no divergence between the capitalist and the worker.
F. T. S. S, specifically within N. F. S. S, is a form of T. A.
S in the United States.
N. S is a type of form of N.F.
S that includes N. E. S and N. D. S.
Jason Bourne: I'm not ready to be the lone ranger on the frontier of complete decentralization for all of the perceived risks that at least I see once you start to weight into it, where's the Goldilocks point?
And how do you decide that for yourself?
He says there's a lot of responsibility and logistics that goes into being your own bank.
Re centralization is like entity unbundle ng re bundling like cDS individual mp three's playlists.
It is newspapers, individual articles, twitter feeds, It is countries, anarchy, new countries, new cities.
What is that in Cryptocurrency the re centralization.
What does the counter decentralization looks like?
It looks like deplatforming from social media platforms, it looks like one banking, it.
looks like the chinese surveillance state.
And the counter.
decentralization I believe is going to succeed in China and fail in the US.
The way that the CCP works is yes, there isn't voting.
If people want to exercise political power, they join the party sort of like how in the US, yes, you can vote, but if you really want to be politically powerful, you want to run for mayor or something like that.
That means joining a party.
It's like a giant corporation where they're looking very much at metrics.
And the chinese government was always kind of conscious of losing the mandate of heaven and having too much dissatisfaction so that all these polls and so on.
Try to keep ahead of public sentiment, solve these kinds of problems.
The U.S. Government is losing control over both domestic and international affairs.
States and cities within the U. S. will take positions at variance with the feds because cryptocurrencies coming so valuable to them that they'll have the equivalent of Sanctuary States and Sanctuary cities for crypto.
The whole pax Americana is based on The repeal of the 10th amendment at home and regulatory harmonization abroad.
If you had to live in the U.S. where would you live and why?
Probably florida why?
Because those are becoming like freedom states.
I think that those states, it's really like a search engine.
Policy is not a scalar.
It's a set of decisions.
Policy is a vector.
I might say, thou shalt not kill but I can't say thou shalt like the color green.
A Blockchain is property rights, identity, historical records, marriage and birth certificates.
All the type of stuff of society can run a ton of stuff that it currently does at city hall on a Blockchain.
A lot of that stuff goes on chain and then a lot of companies but off from that and use that as an application point.
Prices don't come from storks they come from this and where does it come from?
David Obeidallah explains how prices come from interaction of supply and demand.
He says the current market clearing price is five bucks, but if a lot of people suddenly by and clear out the supply then the next available unit might be at like eight bucks or 10 bucks.
And conversely demand is sort of lowest at $5 whether it be a ton of demand, there might be lots of people who would buy a gallon of milk for a dollar.
This is what I call the defi.
Matrix a digital wallet doesn't just hold Bitcoin it can eventually hold everything you know fiat currencies, ethereum tokens, N. F. T. Is whatever.
The defi matrix means everything is just getting re priced all the time.
Price discovery and the sort of transparency of order book that you're talking about is right there and then their analytics being built on top of these market places.
The remote economy has done is it has put Miami in direct competition with san Francisco and poorly managed cities.
Small countries will see an opportunity here two level up their currencies recognizing that they no longer have a geographical advantage.
The price of a city, every ideology, everything will have a price which roughly reflects people's measure of belief in it.
CCP is alienating many of the best from the N. Y. T. T corner of the triangle.
Even the Btc corner, the triangle maximal is.
alienating people like metallic or zuko or the salon a founders or anybody who wants to innovate on so called L one, they're kind of being pushed away from from that corner.
The order book is each cell in the T. Five Matrix how that price is determined.
Bitcoin 100 billion valuation market cap market cap bigger 100 billion is an industry.
Bitcoin at a trillion is a government.
Bitcoin at 10 trillion or maybe 100 trillion.
Someone that range is a world government.
What you really want is not a 51% democracy, you want 100% democracy.
The 51% may feel like they want to impose their will on the 49% via coercion.
That's actually bad because it's easy to coerce when it's like.1% of the society.
When it's.99% of society agreeing that cores of forces legitimate against him.
There was an article on this in 2018 that actually was artie by both the Jack Dorsey and Evan Williams.
And essentially they say, remember the great lesson in California, the harbinger of America's political future.
And essentially what they're basically saying is California is a one party democrat state and that's what you want for the country.
So then the natural continuum more progressive to more moderate solutions and got worked out within the context of the only remaining functioning party.
So essentially they're just saying just win.
And now, of course, it is a question mark as to whether you actually quote, want democracy.
Bitcoin itself will be like the main flashpoint, the conflict in crypto is sort of Bitcoin is different from crypto because maximalist wanted to be different, that is to say whether you think of them, it's kind of like it's Taiwan part of china or is his own country.
But if you're a maximalist, Bitcoin is its own thing and all crypto is just scams etcetera.
Whereas if you are in crypto or in web three actually, Bitcoin does one thing which is digital gold and then we also need private cash.
Bitcoin will be seen as something like the bible or the Koran or the communist manifesto or the american declaration.
Satoshi Nakamoto is a really great last name for Satoshi, but I think it's a really important for any language nerds out there for any.
Nakamoto and the character for naka is the same character different reading as the song of jungles of china, Middle Kingdom.
Bitcoin has become almost like an element like gold.
It fits a certain kind of mentality where because there's no leader, you don't feel like you're submitting to somebody by buying gold Satoshi is who you make them out to be.
It's unlikely that there's gonna be a technical attack on Bitcoin going forward is potentially a regulatory or software attack.
I'm actually most bullish on twitter slash square and facebook and the reason to put them is they're going to become probably merged into something like Square's Bitcoin support and the fact that Jack is ceo of both, of course they're two separate entities but he can figure it out and probably offer Bitcoin payments on twitter for many things.
There's ways of doing with zero knowledge, there's a number of different engineering trade offs that could be made.
The internet of money and the internet of information eventually merged together because with something like disco with what was called the cloud body.
So if you go to their block Explorer you can see that every post and like and so on his own chain and that shows that actually more than just financial data can be represented on chain.
Social data can pretty much everything else can as well.
In some ways there's good and bad, the bad is with the state receding with decentralization, winning the american anarchy that may follow.
The tyranny doesn't have enough state capacity to sustain for long and that's different than the soviet Ernie Ernie.
What is scarce is not freedom but leadership that say in a time of tyranny, what scarce freedom is scarce, his leadership.
Media corporations have abandoned many niches.
Sports Illustrated's not Sports illustrated.
Teen vogue is not teen vogue.
In fact, if you took these articles, they basically all sound like the same.
I can't even type stuff and if you just strip the branding and you just had a, I try to distinguish it.
I'm not sure you could because they're essentially all like on twitter and there are part of the same sort of conformist group now though with sub stack.
1729 is the first number that's the sum of two cubes in two different ways.
It's one Q plus 12 cube and it's also nine Q plus 10 cube.
17:29 refers to the it's sort of like the E equals M. C. Squared of India just like M C squared.
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