Bitcoin and Supranational Money

Key Takeaways

  • Bitcoin has at least a 10x up to 100x from here.
  • Everything is going to be on-chain, have a token, and be in constant competition.
  • At $1Million per coin, Bitcoin becomes a pro-freedom government
  • Satoshi was not a Maximalist; there will be coins and the safest play will be to hold BTC.

DeFi Matrix

  • Balaji imagines/predicts a world where absolutely everything (corporations, mortgages, etc) is on-chain. The “Defi Matrix” will have quadrants such as Bitcoin vs Crypto, Fiat vs Equities, Fiat vs Fiat, etc.
  • Every asset will be held in competing for digital wallets. Centralization provides protection from large downside but also caps upward growth.
  • Price Stable Fiat Currency –  New sovereign issued fiat currencies will arise with a soft guarantee on purchasing power. It’s a reasonable product to offer – Balaji
  •  The crypto exchanges of today will be asset search engines.
  • Security law needs to be revisited to accommodate for digital reality and tokenization.
  • Every asset will be in competition 24/7

The Role of BITCOIN

  • In the Defi Matrix, Bitcoin is Zero, Zero. It’s the asset that everybody wants and is the denominator
  • Bitcoin is gold in today’s terms is an underestimate. Gold is used for everything in history. It was the center of the economy. The game was accumulating gold. Gold naturally checked government.
  • There’s a need for around $100T – Balaji When bitcoin is at $1Million it becomes a pro-freedom global government because it will constrain every state.
  • The state won’t willingly relinquish the property ledger. Bitcoin will need to defund the nation-state before property falls out of state control.
  • Bitcoin is for the power user and the marginalized.
    •  Power user– the developer or investor who wants to move millions with a keystroke. People who want to avoid forced wealth redistribution
    • Marginalized – People who need the most basic financial services. A need to escape hyperinflation and predatory monetary systems. The middle class is becoming a power user through the early access
  • There will be millions of options of where to put your money. Right now, bitcoin has at least a 10 to a 100x potential. The simplest solution is to park money in Bitcoin.

Satoshi Wasn’t a Maxi

  • Balaji and Breedlove do not identify as Bitcoin Maxis by today’s terms.
  • Satoshi and Hal Finney talked about other currencies. Balaji analogizes “maxis” to monotheism.
  • Balaji acknowledges Bitcoin is the single most important factor but does not think that it will be the only coin and that everything else is evil or a scam.
  • “There’s nothing so good you can’t overdo it” – Balaji

Transhumanism vs Anarcho-Primitivism

  • Balaji hopes for a crypto civilization that focuses on reversing aging, life extension, MARS, and advancing mathematics. Math is a civilizational ruler.
  • Balaji sees an upcoming split of Transhumanism vs Anarcho-Primitivism
    • Anarcho  Primitivism – A reaction to tech. The view is that humans are bad, evil, and destroying the earth.

History Lesson TBC.

  • The cultural revolution in China from 1966-1976 under Mao was filled with violence and left the country very poor.
  • Entrepreneurship was punishable by death for a period in China.
  • Deng Xiaoping slowly weaned China off of communism
The Balaji Series :
Notes By Paul Keating

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