24 November 2020 · 2 min read

Saylor: Bitcoin Is A Fundamental Engineering Advancement For The Progression Of Humanity

In this virtual interview, Michael Saylor, the CEO of MicroStrategy, talks with the host of the OnceBITten Podcast Daniel Prince. They talk about the middle-class struggle to obtain higher education, the Saylor Academy, and how Bitcoin is a fundamental breakthrough in the history of humanity.

He also advises against trading Bitcoin, and makes a case for doing good things in a very careful manner. In his words:

"Bitcoin Is A Fundamental Engineering Advancement That Underpins The Progression Of The Human Race."

Timestamps of the video:

0:00 Intro.
0:40 Mission of Saylor.org – free education for everyone forever.
2:00 Middle class struggle to obtain higher education
3:05 Rationale of Online, Open, Free Education
6:19 Decomposing the Components of a College Education
6:50 Making Education Cheaper, Smarter, Stronger, Faster
9:20 Need to produce 1 billion Masters & PhDs
11:00 Solving the $500 Trillion problem with education technology
13:00 Gatekeepers as impediments to Education & Progress
14:00 Benefits of Education Simulations & Cultivating Genius
15:30 Plans for Saylor Academy
16:30 Surfing the Virtual Wave vs. the Mobile Wave – Benefits of Action
19:00 What is the Virtual Wave?
19:30 Impact on Education Industry – Dematerialization & Disruption
21:00 Zooming at the Speed of Light & Bending Time & Space
23:00 Productivity Explosion due to Omniscience & Acceleration
24:39 Meetings for Interrogation, Collaboration, & Negotiation
26:00 Renaissance of Home Schooling & path to Excellence
27:00 Irritation at Interactions IRL – In Real Life/Real Time
28:25 Trillions of hours of mediocre education & time wasted
30:30 Three Components of Education
33:00 Impact of Virtual Wave across Industries
33:40 Redefining the concept of Local – You speak my language in my time zone
36:00 Embracing the Virtual Wave & Bitcoin – Job of the CEO
38:39 Accelerating Rate of Adoption & Network Growth via Proof of Work
40:20 Engineering Credo & the Gift of Steel
42:20 Investing 20 years of work into Bitcoin – Investment Hash Function
44:00 Facebook of Money – The Investment Idea of the Month
46:00 The Fire of Bitcoin – Campfire to Bonfire to Forest Fire
48:00 Bitcoin Evangelism – Don’t trade Bitcoin
51:25 MicroStrategy Bitcoin Strategy & Plans
54:13 Bitcoin, Privacy & Market Opportunities
57:00 Store of Value is the Killer Use Case for Bitcoin
58:50 Payment Network Options -Don’t need crypto to buy a Pizza
1:01:00 Risks of Privacy Crypto Networks
1:03:30 Privacy Discounts & the Two Tier Market
1:08:00 Fear of Wealth Disclosure – Existing Bitcoin Privacy
1:10:25 We should do good things in a very careful fashion
1:11:00 Benefits of Network Diversity & Technology Partners
1:13:00 Make it Easy for the Warren Buffets & Casual Users
1:15:00 Inclusivity & Empathy with the Institutional Investor
1:17:30 Market Opportunities for Bitcoin Technology Partners
1:19:00 If you had one Orange Pill who would you give it to?
1:20:00 Would you ever sell Bitcoin?
1:21:20 Would you ever pay employees with Bitcoin?
1:24:00 Medium of Exchange is worth nothing to Bitcoin
1:26:15 Bitcoin is not a payment network, nor is it a currency, it’s a reserve asset.
1:28:00 Settlement transactions contribute to integrity & trust as deterrence
1:31:00 Will you ask your Employees to run their own node?
1:32:45 Inspired by Tahini & the Bitcoin Standard
1:33:00 The World’s First Digital Monetary Network – An Engineering Wonder
1:35:00 Like Steel, Bridges, Dams, Aqueducts, Electricity, Airplanes

The interview was published on November 13, 2020.