Bitcoin *IS* Happiness!

What this episode covers

Facts! https://erickimphotography.com/blog/2024/11/20/bitcoin-is-happiness/ Summary of “Thinking Like an Engineer” • Michael Saylor’s Misconception: • Many believe Michael Saylor is a trader, but he is actually an engineer. • Engineers think from first principles, deeply analyzing the true nature of things. • Thinking Like an Engineer: • The author relates to thinking like an engineer, applying first principles. • Modern societal issues are often social problems that could benefit from engineering approaches. • Leonardo da Vinci as a Model Engineer: • Leonardo exemplifies infinite curiosity and playfulness. • Despite his genius, he relied on patronage and wasn’t financially independent. • True freedom and power come from personal financial independence. • Bitcoin as Solidified Happiness: • Bitcoin represents economic power, energy, joy, and happiness in a tangible form. • Owning Bitcoin brings the author great happiness and a sense of empowerment. • Bitcoin exists in cyberspace, not the physical realm, yet holds significant value. • Reevaluating Preconceptions: • The author overcame initial misconceptions about engineering being too math-heavy. • Real engineering is rooted in physics and reality. • Suggests rethinking societal norms from scratch (tabula rasa) using first principles. • Innovation in Transportation: • Proposes that if we redesigned transportation today, we’d opt for electric self-driving cars. • Highlights the health hazards of tailpipe emissions from gasoline cars. • Advocates for the practicality and environmental benefits of electric vehicles. • Critique of Romanticizing the Past: • Believes that clinging to the past is counterproductive. • Questions societal norms like extravagant spending on engagement rings. • Suggests practicality over tradition in personal and financial decisions. • Bitcoin as Digital Real Estate: • Compares Bitcoin to owning valuable real estate due to its limited supply (21 million bitcoins). • Suggests that investing in Bitcoin is like acquiring prime digital property. • Investment Strategies: • Argues that renting is more financially prudent than buying property. • Recommends investing in Bitcoin over traditional real estate for greater returns. • Notes the significant increase in Bitcoin’s value and its potential for future growth. • MicroStrategy (MSTR) Investment: • Highlights the rise of MicroStrategy stock due to its significant Bitcoin holdings. • The author invested in MSTR stock early and anticipates continued growth. • Suggests using gains from MSTR stock to purchase more Bitcoin. • Systemic Challenges: • Observes that current systems are outdated and rigged against individuals. • Uses the example of infrastructure based on ancient standards (e.g., Roman roads influencing car widths). • Advocates for embracing new technologies and systems like Bitcoin. • The Shift to Bitcoin: • Notes that people are recognizing the superiority of Bitcoin over other cryptocurrencies. • Predicts a migration of value from weaker assets to Bitcoin. • Embracing New Economic Theories: • Emphasizes the importance of innovative thinking over traditional economic models. • Views Bitcoin as more valuable than major tech companies due to its global accessibility. • Highlights Bitcoin’s potential to revolutionize global finance. • Focus on Cyberspace: • Echoes Michael Saylor’s sentiment to prioritize cyberspace over outer space exploration. • Cyberspace is the new frontier for economic activity and power. • Bitcoin is poised to become the global monetary network, even applicable in future space endeavors. • Bitcoin’s Enduring Value: • Bitcoin is unique in that it can last indefinitely, unlike physical objects subject to decay. • Posits that Bitcoin might be the most ethical investment for the planet. • Conclusion: • Encourages investing in Bitcoin as a path to happiness and financial success.

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