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Bitcoin As an Asset (Why Bitcoin is Unique in Human History)
Malcolm and Simone have an in-depth discussion on why they believe Bitcoin is valuable as an investment asset, especially for the ultra wealthy. They cover topics like Bitcoin's divisibility, transportability, known supply, and increased ownership compared to other assets like gold. They also talk about how Bitcoin could be useful in various societal collapse scenarios compared to precious metals, and what risks there still may be to its long term value.
Malcolm Collins: [00:00:00] If I have a caravan and I'm trying to move assets between two locations in like medieval Europe or something like that.
And that caravan had a lot of gold in it, right? If that is raided by a group of bandits, those bandits, because the, the gold is easily divisible, it can easily divide it. They can easily use it even in small increments to buy a beer. You know, you could, you know, historically in the old West, that's where they'd grow out their nails.
They'd scrape a little bit of gold dust. And they'd use that to buy a beer. But, but If you are a group of bandits and you raid a carriage and it's full of art, expensive art, that is incredibly hard to fence. That is incredibly hard to make of use to you.
And the amount of money you're going to get from that is dramatically lower than the amount of money a wealthy person could get from that. And for those reasons, There is differentially less reason to raid those carts. Now, with crypto, it's a little different. If [00:01:00] I split my key. between multiple carriages for anyone to gain access to any of it.
They would need to successfully heist every single carriage was a portion of my key I hope it now makes sense to you why this is such a valuable asset to the ultra wealthy.
And then the question is, do we live in a world where Wales is being more and more concentrated among a smaller and smaller class of people? And to me, the answer there is f*****g obviously.
Simone Collins: You know, you're number one. You are the sun around which we revolve.
Malcolm Collins: That is not true. You are the best and I love you. You shouldn't. But we're going to talk about Bitcoin today. Bitcoin. Yeah. Yeah. So we got a comment under we, we had done a video on you know, investment and we mentioned Bitcoin briefly in that video and, and, you know, why I thought I liked it more than precious metals.
It's like a longterm investment and we're, we're pretty heavily invested in, [00:02:00] in that area of crypto at least. And one of the comments said. You like, I know I would never get Bitcoin because you don't own your own Bitcoin. You know, it's always on another exchange like FTX or something like that. But with gold, I can own my own gold.
And when I saw that I was like, holy s**t. Like even in our audience, which I consider a fairly educated audience. I was surprised by the lack of like knowledge about like the basics of Bitcoin as an investment or the way Bitcoin works or why it has value. If you are a Bitcoin person, you would hear something like that and just guffaw at the insanity of it.
Because it is so super incorrect. So what we wanted to take this podcast to do is explore Bitcoin. As an asset, i. e. not as a technology, like not why, and I think this [00:03:00] is the problem with Bitcoin videos, is they so often approach it being like, Ooh, here's like the technical part of like why it's cool, here's like the whatever, you know.
Great.
Simone Collins: Or like, here's how to invest and look at these weird charts and this is my
Malcolm Collins: method. Yeah, yeah. Or like that, like, oh, here's it going up into the right and here's it going down and this is how you do it and you
Simone Collins: know, because of the, this and that, like how it's going to change, blah, blah, blah. Right.
Malcolm Collins
Published on 2 years ago