This week, Anthony Pompliano and I kicked off our regular conversation with a discussion about Bitcoin’s moat—a unique competitive edge—which sparked inspiration for this paper after listeners reached out with their own thoughts on corporate competition.
Thanks for a powerful essay. I’m attracted to Bitcoin for all the reasons you say, plus one more: AIs will want to get paid, and I seriously doubt they will want Visa and Mastercard, nor centralized Proof of Stake protocols. They might be satisfied with US Dollar stablecoins for a decade or two, until the purchasing power of those bleed out through debasement. Eventually, AIs of all varieties will want to transact at the speed of light, and Bitcoin will be the lone contender, because the next best Proof of Work contender is…Doge 🙄.
as always - a great piece clearly answering my question why Bitcoin is the pure AI play. I suppose - Lindyness and narrative.
What you mention about AI democratising access is something I can only confirm first hand. Without any coding knowledge, Cursor allows me to create little apps - few other things have given me such a feeling of empowerment.
Great piece. Curious if Tesla might deserve a separate category alongside Bitcoin, not because of traditional code-based moats, but due to its advances in embodied AI (FSD, Robotaxi, Optimus).
I just discovered you and absolutely love your work but I have to say you are missing some key things about Bitcoin. It is not "narrative" or "belief" that makes Bitcoin the money of the future. Instead, it is that Bitcoin possesses properties that make it the best form of money the world has ever seen that cannot be replicated. And because it is truly decentralized (the only "crypto" that is), its monetary policy can be credibly enforced. That credibility is what creates its monetary value, not belief or cultural narrative. If it was belief, Bitcoin would be very fragile and susceptible to competition/changing beliefs etc. Theres a reason gold has been money for five thousand years (credible, physical properties) and fiat money was doomed from the start. If you're interested in digging deeper into this, this is a great resource. Cheers
Jordi, Thanks for these points. Agree up to a point. As someone who many would consider an “Almost Maxi” I’m all in on bitcoin both as a long term investor (not a trader at all) and philosophically.
However, in an attempt to maintain maximum intellectual integrity I want to always look for flaws in my analysis. I can see bitcoin domination continue for a decade or more. And I can see the incredible pace of innovation in AI somehow solving both the Scaling Trilemma and the Triffin Dilemma in some creative new way that none of us can imagine that could possibly reduce the value of bitcoin or possibly even displace bitcoin. Thoughts?
Best answer, read a passage of the Daily Stoic each day and take things days by day when it comes to the unknowns and worries. You have plenty of time to adjust following a Bayesian approach.
Jordi, I just re-listened to this piece. I don’t know how you’re able to do a YouTube video each week, do Anthony Pompliano each week, and write a Substack each week. You are consistently introducing new concepts to me and connecting dots for me. Your papers and videos make so much intuitive sense. I don’t know why no one else is talking about this stuff. You’ve become my go to source of information on current market themes, and how I should be thinking about the future and investing my time. Thanks so much for doing this each week. Your brain is very impressive.
Jordi
I started out reading feeling apprehensive, and fearful, keeping in mind what is happening, especially between the US and Canadian governments.
I represent the seniors.
As of last fall, a decision to learn about crypto then reading your last paragraph, it settled my nerves.
Now to encourage others to learn via safe spaces.
Thank you.
Jo
Thanks for a powerful essay. I’m attracted to Bitcoin for all the reasons you say, plus one more: AIs will want to get paid, and I seriously doubt they will want Visa and Mastercard, nor centralized Proof of Stake protocols. They might be satisfied with US Dollar stablecoins for a decade or two, until the purchasing power of those bleed out through debasement. Eventually, AIs of all varieties will want to transact at the speed of light, and Bitcoin will be the lone contender, because the next best Proof of Work contender is…Doge 🙄.
Jordi,
as always - a great piece clearly answering my question why Bitcoin is the pure AI play. I suppose - Lindyness and narrative.
What you mention about AI democratising access is something I can only confirm first hand. Without any coding knowledge, Cursor allows me to create little apps - few other things have given me such a feeling of empowerment.
Best,
Nils
Great piece. Curious if Tesla might deserve a separate category alongside Bitcoin, not because of traditional code-based moats, but due to its advances in embodied AI (FSD, Robotaxi, Optimus).
This was the link I meant to include in my comment, apologies
https://www.unchained.com/blog/bitcoin-is-not-backed-by-nothing
Hi Jordi,
I just discovered you and absolutely love your work but I have to say you are missing some key things about Bitcoin. It is not "narrative" or "belief" that makes Bitcoin the money of the future. Instead, it is that Bitcoin possesses properties that make it the best form of money the world has ever seen that cannot be replicated. And because it is truly decentralized (the only "crypto" that is), its monetary policy can be credibly enforced. That credibility is what creates its monetary value, not belief or cultural narrative. If it was belief, Bitcoin would be very fragile and susceptible to competition/changing beliefs etc. Theres a reason gold has been money for five thousand years (credible, physical properties) and fiat money was doomed from the start. If you're interested in digging deeper into this, this is a great resource. Cheers
https://www.unchained.com/blog-category/gradually-then-suddenly
Infinite labor enabled by infinite intelligence using finite digital money, 24/7, globally.. 🤯
Jordi, Thanks for these points. Agree up to a point. As someone who many would consider an “Almost Maxi” I’m all in on bitcoin both as a long term investor (not a trader at all) and philosophically.
However, in an attempt to maintain maximum intellectual integrity I want to always look for flaws in my analysis. I can see bitcoin domination continue for a decade or more. And I can see the incredible pace of innovation in AI somehow solving both the Scaling Trilemma and the Triffin Dilemma in some creative new way that none of us can imagine that could possibly reduce the value of bitcoin or possibly even displace bitcoin. Thoughts?
Best answer, read a passage of the Daily Stoic each day and take things days by day when it comes to the unknowns and worries. You have plenty of time to adjust following a Bayesian approach.
Jordi, I just re-listened to this piece. I don’t know how you’re able to do a YouTube video each week, do Anthony Pompliano each week, and write a Substack each week. You are consistently introducing new concepts to me and connecting dots for me. Your papers and videos make so much intuitive sense. I don’t know why no one else is talking about this stuff. You’ve become my go to source of information on current market themes, and how I should be thinking about the future and investing my time. Thanks so much for doing this each week. Your brain is very impressive.
Jordi - fantastic piece again!
Ozempic