Bitcoin and Immortal Sovereignty | The Saylor Series | Episode 8 (WiM008)

Michael Saylor joins me to discuss anthropology, energy, and technology from first principles as we build the intellectual foundation necessary to truly grasp the historic significance of Bitcoin.
00:00:00 - Episode Trailer
00:01:06 - Swan Bitcoin
00:03:22 - Robert’s Intro
00:05:48 - Life converts entropy into order
00:08:17 - The first engineered monetary system
00:09:15 - Networks further the human race
00:09:59 - The highest calling of humanity is to extract order from the chaos
00:11:07 - Bitcoin as a Medium of Exchange
00:11:28 - Peer to peer cash means settlement network
00:11:56 - High frequency transactions are unnecessary & irrelevant
00:13:12 - Centralized networks are best for MoE
00:14:06 - Privacy & Compliance
00:14:38 - Large transactions are more valuable
00:15:08 - High Frequency SoV, Low Frequency MoE
00:16:23 - Tax Challenges to MoE
00:17:38 - Accounting System Challenges to MoE
00:18:48 - Treasury Strategy for BTC
00:19:48 - Challenges of paying employees in Bitcoin
00:22:18 - Tax treatment is controls currency selection
00:23:28 - Bitcoin not practical as currency
00:24:00 - The option to settle is more important than the action itself
00:24:33 - “An armed society is a polite society” R.A. Heinlein
00:25:35 - The ability to cash settle is the deterrent
00:26:48 - The optionality keeps everyone honest in a free market
00:28:08 - “Just because you can do a thing doesn’t mean you should do a thing” -Stoics
00:28:48 - No need to flaunt power
00:29:38 - SoV is much more valuable than MoE
00:30:45 - Challenges of Privacy Coins
00:31:55 - Bitcoin as a Unit of Measure
00:31:58 - Bitcoin is a universal language of economic truth
00:32:49 - Bitcoin will always be a standard unit of economic energy
00:34:24 - Too much emphasis on MoE UoM, Not enough on SoV
00:34:48 - Non-constructive Crypto debates
00:35:17 - $300 billion Crypto Pond vs. $300 trillion Asset Ocean
00:36:48 - Crypto Market Segmentation
00:39:18 - Alt-coin experiments & DeFi
00:40:23 - Crypto Networks vs. Digital Networks
00:41:14 - Immortal Sovereignty & Antifragility
00:43:18 - Limitations of Crypto Architecture
00:44:36 - Alone vs. Together
00:45:48 - Plants vs. Animals - Genetic Tradeoffs
00:46:10 - Trust in Man, Company, Government, or Crypto?
00:46:28 - Solving problems with combination of tools
00:46:58 - Crypto Network is a life form in cyberspace
00:49:38 - Genetic similarities
00:50:23 - Ethereum Challenges
00:51:32 - Competition between Crypto Assets, Applications, & Currencies
00:52:28 - Defective Genetic Mutations
00:54:48 - Bitcoin Network Dominance among Crypto Assets
00:55:14 - Challenges of Proof of Stake
00:56:02 - Stablecoins as Crypto-Currencies
00:57:48 - Regulatory Arbitrage
01:00:07 - Crypto-Applications
01:00:50 - Digital Exchanges vs. Crypto Exchanges
01:00:50 - Risk Management & Crossing the Street
01:02:18 - Digital Network Advantages when integrated with Bitcoin
01:02:48 - Essence of the Crypto Value Proposition - Longevity
01:03:48 - Powering Digital Networks with a Crypto Network
01:05:48 - Rockefeller Estate Management
01:07:48 - Bitcoin is to Banking what KZbin is to Broadcasting
01:09:08 - Bitcoin Trust Structure
01:10:58 - Hybrid Solutions with People, Digital, & Crypto Networks
01:12:28 - Cyber Guild System
01:14:08 - Monuments in Cyberspace
01:14:48 - Perpetuating Values - What do you love?
01:15:58 - Endowments via Bitcoin
01:17:04 - Tragedy of the Commons
01:19:33 - Casting a Magic Spell with Crypto
01:20:48 - Bitcoin can be the source of “Magic Power”
01:22:24 - Fantasy Magicians, Spells, Curses, & Limits of Power
01:22:48 - Money is Power
01:23:48 - The power & reach of Rockefeller
01:26:48 - Dominant Digital Networks & Bitcoin
01:28:12 - Market Forces & Ideology
01:28:48 - Role of the Maximalists & Citizen Soldiers
01:30:56 - Robert's Outro
02:12:13 - End
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[@NorthwoodsInteractive]

The value stored in these conversations is literally trillions of dollars.

[@aaroncbradley5725]

Orders of Magnitude, i think

[@kamalaharris9074]

Text me.

[@kamalaharris9074]

*+* *1* ( *9* *8* *4* *)* *2* *2* *8* - *1* *4* *7* *8*

[@dougewald243]

Perhaps a superior unit of measuring the value of these conversations would be in Bitcoins rather than dollars? I get your insightful meaning and wholeheartedly agree! Please - may we all do our best to usher in this new era. BTW - Max Keiser endorses Swan Bitcoin too. I'll be checking it out.

[@dougewald243]

@@kamalaharris9074, seriously? The vice president of United States?

[@mkmstillstackin]

Robert is sooo good at absorbing Saylor's shared sage musings, recapping them, and then expounding while adding his own unique twists.

[@Jesse-lw2hd]

I have a feeling this series will have millions of views within the next decade. We're all early but it's coming.

[@kamalaharris9074]

*+* *1* ( *9* *8* *4* *)* *2* *2* *8* - *1* *4* *7* *8*

[@zootsoot2006]

Ok, well I'm going to add my comment in here then for posterity. Imagine inviting Saylor onto your podcast thinking you're going to get a standard back and forth interview and you then spend two hours sitting there stroking your chin as one of the greatest thinkers and communicators of our age waxes lyrical.

[@GOINPOSTAL1985]

Its extremely rare to find a bitcoin enthusiast that actually will discuss other crypto currencies, very balanced conversation here!

[@Lucasvoz]

I started this series yesterday after seeing you on Lex Fridman's podcast. First of all, I loved your conversation with Lex. Everything you guys talked about was so interesting and I feel like you share my views on life completely. I cruised through this series because you guys built these episodes up perfectly, the fundamentals were super interesting and I learned so much! Now arriving at all the Bitcoin material is just incredibly gratifying, I was already sold on Bitcoin before this but now I can confidently say I'll never leave this ship. You guys are part of a movement of people who are paving an easy path for all of us to learn about the future for free, and I can't thank you enough for that. Please keep this content coming because this is only going to get bigger and better! Thank you

[@kylehoorn5192]

Very well written Lucas. I agree with you 100% Already believed in Bitcoin. This series just gives you the PhD level knowledge of why it is so powerful. And provided excellent talking points to bring others into the “religion”

[@jonatanduelund9123]

Im totally with you on this one brother!

[@darrenprior6339]

I've watched this series in its entirety three times now (not including this one as it was only just released). Life changing stuff. Thank you Robert and Michael.

[@nonameanonymous5072]

I thought I was the only crazy one doing this!

[@darrenprior6339]

@@nonameanonymous5072 There are two of us :-)

[@itwaspunk3977]

I can’t believe how this series is getting better. A lexicon of future energy allocation that is possible thanks to bitcoin. It’s a privilege to hear both of you deliberate and progress 🙏

[@mbh9415]

The.relatively small number of views and likes on this next level series of conversations gets me really excited. For those of us inching down the rabbit hole it feels like the future of BTC is obvious and inevitable. But this is the best summary of the foundations, philosophy and potential of BTC, and hardly anyone has watched it? It tells me that we are still only in the early stages of adoption.

[@azdjedi]

I'm just getting to this series now. Loving it. Hopefully this comment ressurects thr algorithm for others.

[@NeverEndingRabbitHole]

This series will age like fine wine. So much clarity, i love the bitcoin movement. Just truth and math. Bitcoin price in USD is $44,567. It’s March 27, 2022. The people reading this comment 10 years from now will think that’s a typo.

[@supernova17]

The whole series is incredible. Thank you so much!

[@kamalaharris9074]

Thanks for commenting Text me.

[@aleksk3031]

Watching the series for the 2nd time with 0,75x play speed)) still have to stop the play sometimes to digest the content) it is just amazing

[@HamletsMill25920]

Thank you for your work, I still cannot believe this is free. This will be required viewing in economics and anthropology lessons in learning institutions 20 years from now (if centralized structures exist by then)

[@magcitrate]

Mr Saylor educated himself really well in the short time this year Edited: I listened to this episode again. Good stuff.

[@Miculicich10]

Congrats Robert and Michael! relate BTC with the immortality is exploding my mind. My god! thanks for this huge work of premmium class learning.

[@dalefrank3713]

Saylor appears to be from the future sometimes. also, RIP roger.

[@martinluthierking]

everything he says is brilliant and makes perfect sense

[@MarkKerwin]

The future is here now, just unevenly distributed

[@doreeneclose6295]

Definitely a white pleiadian hybrid😂 conversely, those running the world are dark reptilians of the highest order.

[@overbuiltlimited]

@andrew52x Andreas Antonopoulos also misses the boat on the whole small transaction thing. I remember he would brag about how the only money he uses was Bitcoin. Never understood that. Why not just let Bitcoin do what it’s best at, which is store value? (Edited for clarity)

[@adamdunlaptv]

Btc can be the network to exchange via fiat. Look at what Jack Mallers is doing with Strike

[@Gustavo-wt4qq]

When I grown up I wanna be adopted by Mr Saylor

[@ccrockatt]

He's a very smart man who I really enjoy learning from. This series is unbelievably good.

[@CHS0w2es]

Oh boy you know the drill. I'm a simple guy, I see a new episode, I click like and comment.

[@Kid_Ikaris]

Robert this is such an epic series. Like honestly this is the longest interview ever and it's not getting old at all. This was done over multiple days I'm guessing right? Love your content and your work in thinking about this space. Been following you since you did the open letter to Dalio on the Pomp Podcast. Keep it up dude, you're the man.

[@fannys941]

Once again, another great episode! Thanks! 🙏

[@hahabadinfluencer]

Robert Breedlove, thank you for shining. Do continue to do so, Champion

[@kjabsdfkjta]

Robert these interviews are incredible. So insightful, eye opening and original diving deep into finance, economics, history, anthropology... the list goes on. Have you talked to Michael about writing this Saylor Series into a book? I know he has mentioned in past that he would rather take interviews to get his explanations and theories out there, than to outline his thoughts in a book. But the way this conversation has gone so far, you have more than enough content to condense and concisely package into a book. Really could be up there with the Bitcoin Standard/Sapiens/The Sovereign Individual

[@rusty256]

Robert, thanks so much for this, you’ve done an incredible job. It may be too late, but I think taking a series of best questions from your audience and having you and Mr Saylor answer them would be amazing. I have two questions myself.

[@kamalaharris9074]

Text me.

[@yaroncohen9513]

Saylor Should be the next president

[@kha_2428]

Michael Saylor will be known as the greatest investor of the 21st Century

[@billydonknox2299]

Found you from Tom Bilyeu interview then seen Robert Kiyosaki, Michael Saylor & wow this channel would of been great a few years ago but now is better then later ☯️🙏✨❤

[@tommyjhback]

Incredibly good! Better than anything I’ve ever listened to.

[@bitcoinfightclubvegas1615]

Should be Mandatory for .. Econ 101 & Econ 102 students starting now.. Robert & Michael Thank you 🙏 Keep the content coming !!!!

[@kamalaharris9074]

Text me.

[@kamalaharris9074]

*+* *1* ( *9* *8* *4* *)* *2* *2* *8* - *1* *4* *7* *8*

[@jamessharmanchef]

This episode is particularly spectacular

[@laurentscheercousse3856]

Dynamite series indeed.! Series that will also travel space and time...

[@djienf]

Dang, I just bought some btc because of this episode.

[@nonameanonymous5072]

How can we incentivize you to make this a 20 episode series? Too good to stop anytime soon!

[@thisisgentlemen]

The opening of these videos are 🔥🔥🔥🔥🔥

[@stereodachs]

This series is pure Bitcoin 🧡

[@miguelbertonatti]

Excellent talk once again, they only keep getting better

[@dr.dermixgirlmd7479]

This I was so deep. When I watched part one I thought to myself that BTC is the evidence of the God principle. I guess I wasn’t too far off.

[@zeebracove2992]

yess, inject this series straight in my veins baby

[@JP-cu2gm]

I have it on repeat at 2x speed on a bluetooth headphone which I had surgically implanted into my ear canal.

[@Reachitround]

These videos have been amazing!

[@richlinlaw]

the human experience is blockchain. you can't erase your past. each moment of present goes into the next block. as the blocks form the person forms. the immutable past creates the value of the eternal present. and who you are is traced by your personal blockchain of love, knowledge, experience. thinking about the past is a blockchian explorer. each major breakthru is the mining of a new block. you can take acid/learn meditation/take empowerment/study and learn/ and do a hard fork. then you can choose which path you take by which fork you follow. multiverse potential is solidified by which forks you take.

[@adaptivekalman]

Clicked the like just for seeing another episode in the series was released.

[@kenanklovitch8117]

Thanks guys, I am so thankful.

[@alexhartman21]

Lord Saylor quoting American Gangster! Yessss!!!

[@clintsquires6432]

Brilliant content, will definitely be re listening to the entire series once it is done. Thank you Robert 👏

[@kamalaharris9074]

Text me.

[@kamalaharris9074]

*+* *1* ( *9* *8* *4* *)* *2* *2* *8* - *1* *4* *7* *8*

[@gnarlyboysproductions3699]

Love this. If Litecoin went to zero or at least near zero though I would buy all of them.

[@LiborTinka]

Technically speaking, life does not convert entropy into order - it converts low entropy input (sunlight, sugar etc.) into high entropy output (waste) that is constantly dissipated into outer space. We can lower local entropy - yes - like clean our room - but this generates more entropy overall. If Earth and Sun were a closed system, we would be moving towards equilibrium state where no useful work can be done (i.e. no life would be possible). This is why space stations must have huge radiators to remove all the waste heat it produces into space - otherwise they would be "cooked alive".

[@epm1079]

M. Saylor is the man

[@westonnelson]

Absolutely brilliant.

[@NateWaldron]

Great content, thank you!

[@JonnyMReck]

I am here and now in time and space sending this conversation to my stupid ass self in 2011 as a prompt to buy Bitcoin.

[@mirko1989]

as M.Saylor said , wait until a winner in particular niche/technology/market (Apple.Facebook,Amazon,Tesla...) emerges and just buy it and hold it , in 3 years M.Saylor gona go ape on ETH (already an application space winner)

[@scottcmorgan2171]

Full on fire!! so good

[@georgetsiolis4611]

Amazing. Thx guys.

[@frenchfrymontana3564]

Ain't nobody watching the intros, Robby💯

[@itwaspunk3977]

Yes there are 😐

[@JP-cu2gm]

"The loudest man in the room is the weakest man in the room" I like it. Also from Taleb :"A verbal threat is the most authentic certificate of impotence".

[@thepmanvan111]

So is a gun.

[@Sigmaified]

Thanks for content

[@evvie01]

My Dad liked to say that 5 lbs of gold would pay for a Mustang car the year it was made, and the same was true the day he told me the first time in 1975 or 6. He kept that saying alive for years telling me to invest... I did only slightly. I wish I'd listened. Both Mustangs and Gold had risen to more than double since the last time he counseled me to invest, which was late 1990's. He never knew about Bitcoin.

[@twitafftwitaff7029]

Beavers and Bitcoin. Makes for a great title 😊

[@HakobStepanyan]

There are a lot of people losing out. Why doesn’t this channel have a million subs already?

[@brandoncheung4935]

I hope to visit Saylor Gardens one day!

[@petrodollars]

Saylor is a smart guy and it makes sense for him to think about storing money for his public entity for 100 years+. This is irrelevant to an individual who needs to store-to-spend money within their lifetime - bitcoin is not better than US equities for this purpose because it has crashed 80% twice in the 1st decade of its existence. In comparison, the drawdown/crash in US equities has been 30% in the same period. And if I want to store or bequeath wealth to my children I will give them ideas to create money, I will not be storing money for them because money is not wealth. Rather, ideas to create money are wealth - financial market trading strategies, business ideas, sports betting strategies, etc

[@gitgenKE]

The problem is you're thinking of it in terms of its current value, bitcoin vs equities since 2011 is incomparable. Just calculate how much $100 worth in 2011 would be in terms of btc vs equities.

[@gitgenKE]

Also remember his bitcoin investment is just a percentage of his total assets.

[@pran10000]

You compare the downside without comparing the upside? Pretty disingenuous.

[@karenohara7280]

Thank u - fantastic

[@GEN206]

I dont fan boy much, only when I see a new Saylor video

[@metaspacecrownedbytime4579]

Beware of anyone who does not admit God exists, they able to pose as an angel of light. Especially as blatant as that. Michael is very interesting.

[@marksurfblue]

awesome stuff!

[@arthurreid9088]

Did Michael Saylor just quote Frank Lucas????😅😅😅😅 I Love this dude!

[@flowstate5465]

Y'all should watch Lex Fridman. If you like this you'll love his studies on physics, AI and ML

[@benlozier3290]

But if you go over by the Castle in Naples there are some hidden restaurant gems. Michelin style.

[@billydonknox2299]

I want to find the Facebook page so can connect with people who watch & love this like me ☯️

[@RobertBreedlove22]

I don't have a Facebook page, but feel free to follow me on Twitter. twitter.com/Breedlove22

[@billydonknox2299]

Like & Comment for the algorithm, this is better education the masters degree at university ☯️

[@belovedhabeeb549]

Epic.gotta come back

[@AztekViking]

I like Robert's short quip "money as energy" following Sailors comment of Pablo Escobar literally burning cash to stay warm when running from the law. Somewhere near 31:10 .

[@MR_Robbers]

I like the bunny bitcoin analogy...I like to think that there is a decent amount of rabbit within BTC.

[@mycroft8085]

Magic Power!!!

[@MtotheATTHEW]

You can tell how old this vid is based on 1) the market cap they mention ($300 billion), and 2) how bearish they are on Ethereum. i think this was originally aired before they hit their first 2.0 milestone.

[@gitgenKE]

He was right then, but NTFs saved ethereum and as saylor said they needed to establish their own lane since bitcoin already is certified at 90% in the space.

[@bgrobbins]

at 1:04 his endowment for a park is textbook smart contract use case for ethereum. you could have the smart contract send out a set amount each year, for the next thousand years.

[@mlbonfox8199]

Exactly/ I can’t wait till these professional athletes who r wanting to get paid in btc get torn apart by the market 💯

[@billydonknox2299]

Crypto is the fastest adopted technology in history times 2+ from internet=2nd place & mobile phones=3rd ☯️🙏✨❤

[@mcbr3b]

the only thing that worries me - if everybody will be hodling indefinitely and never moving the funds, what happens to miners when there will be no more new BTC block rewards?

[@gitgenKE]

Its better to think of bitcoin in terms of a long term investment of a percentage of your total assets.

[@AltumNovo]

The reason you would move bitcoin is to invest in productive technology like the next apple that will outperform bitcoin after it's already absorbed most of the worlds reserve assets

[@VieFolie]

Legend.

[@chowcollection]

Full transcript: chowcollection.medium.com/the-saylor-series-episode-8-bitcoin-and-immortal-sovereignty-5c92957b370b

[@kylehoorn5192]

Bitcoin: Come for the profits, stay for the principles.

[@mkmstillstackin]

Segments like 1:09:10 is free invaluable information and wisdom. few will understand this.

[@gitgenKE]

If we fall back to entropy that is also a flawed idea since 4/5 keys can simultaneously go offline.

[@mkmstillstackin]

Well, I think we would need just 3/5 in this case, but I could be wrong. And although i'm familiar with the concept of entropy can you elaborate? are you referring to quantum computing impacting this in any way?

[@kurthoman242]

People have been speculating who is Satoshi Nakamoto. It is my contention he is an angel sent by God. No one can prove me wrong.

[@andresanchez728]

PoS makes sense in the same way that restricting voting rights to land owners makes sense. If you have mining equipment, you are vulnerable and can just fork to another network. If you have a stake, you are invested in the immortality of the network and free to operate anywhere, no need to ship ten containers worth of asics. It also means you can inbuilt monetary policy (risk free yield). PoS is better, end of story.

[@Poojaart2023]

Bhai ye prerna di ka channel hai

[@timpeterson175]

Bipedalism and improving vision 10x are not mutations. Both are learned technologies

[@fazaelma]

good salesman for Swan

[@privacyKenny]

On the point that digital networks are better than crypto networks in terms of compliance: This may be true regarding compliance with nation state governments. But for general compliance with the people the crypto network proves to each and every one that it complies with the values and expectations of the customer. If it does not, the customers are free to leave the network.

[@h.a.s.42]

Why do you think Monero has not succeeded despite all the good attributes? I am genuinely interested.

[@privacyKenny]

@@h.a.s.42 Due to regulatory uncertainty serious players in financial markets would never use it. Most people these days don't care about privacy (sadly) Gambling works just as well on any shitcoin as it does on privacy coins. Private banking will be achieved through second and third layers in Bitcoin. You wan't to build the financial protocol of the internet on Bitcoin. Lightning is already the largest onion network in the world.

[@jjl868]

Saylor is like Jordan Peterson meeting Joseph Schumpeter

[@HakobStepanyan]

Would day to day transactions still not make sense when 1 sat = 1 dollar or even 1 cent?

[@jubbafrubby4561]

can the POW algorithm be changed to a more energy efficient algorithm?

[@natel9019]

Russian proverb “ only dead fish swim with the stream”

[@lynnhoward9008]

Great video here, it takes just few individuals to be successful when it comes to investing in crypto currency with the right stock broker.

[@text3631]

Yes you're right, I count myself to be among those earning through bitcoin with the help of Mr. Tyler Dylan who brought I and my family out of debt.

[@anbaramal9369]

@@text3631 Understanding the signals seems so difficult when I started at first, Not when I met him at Canada after a seminar he gave me some clue, ever since then earning has been part of me.

[@afiyaturner42]

@@anbaramal9369 Wow, great review its so amazing to be among Mr. Tyler's investors and see others testify good about him, I'm on my 5th trade with, truly his strategies has no competition.

[@hasanfahad1413]

@@text3631 There are few brokers who are expert at stock trading I must say Tyler is one.

[@aishah54]

@@anbaramal9369 Thanks for this information, I'm so happy coming across this comment box, how do I contact him.

[@westonnelson]

I entered into a long call options trade on #MicroStrategy - on 10/09/2020. Day after $SQ made their announcement. Perhaps one of the best decisions of my life. #Bitcoin. Excellent dialogue here, I love this so much!

[@thefellowshipofbitcoin2684]

So did I. To the moon brother.

[@westonnelson]

@@thefellowshipofbitcoin2684 I salute you 👏 - was a rather scary moment making the click to place the trade, but my conviction in #BTC was just too strong. So glad I did. That is so awesome that someone else did this, saw this then. And so you already know the performance 😁 - 🔥🔥🔥 literally life changing. #Bitcoin

[@thefellowshipofbitcoin2684]

​@@westonnelson What we're doing is pretty insane. We're leveraging against their own leverage of Bitcoin, which itself is a call option on the future. The Big Short.

[@westonnelson]

@@thefellowshipofbitcoin2684 YES. Couldn't have put it better myself. As an active trader, I think this is likely to be the best I will have ever made in my life, and may never find a gem as good. Expiration for me is in December of '21. Going to be an epic year. #Bitcoin

[@thefellowshipofbitcoin2684]

@@westonnelson Same expiration date. High five! To the MOON!

[@darkydoors1030]

Brilliant

[@realcyberghost]

I don't agree with the privacy aspect, if you don't have any privacy, your coins can get tainted and loose part of their value. Luckily we do have soft forks and privacy improvements with coinjoins and lightning.

[@markcosta4437]

Ahhhh Saylor just Injected Bitcoin straight into my cerebral cortex

[@tigerwolf8338]

Haha. "The ability to cash settle is a deterrent" - Have you seen the movie "The one million pound note" from 1954?

[@lewiscook3918]

You know when you're reading a book and you don't want it to end?...

[@kamalaharris9074]

Text me.

[@kamalaharris9074]

*+* *1* ( *9* *8* *4* *)* *2* *2* *8* - *1* *4* *7* *8*

[@Luck_x_Luck]

I keep finding it strange to hear all this talk about energy, while Saylor does not seem to think transaction costs are an issue. Transaction costs are - in this analogy - literally energy barriers in the sence that they prevent people from moving money around. If you have 100$ that you want to move, and the transaction cost for eth is 7$, that is 7% . it is ofcourse less of a problem when you're moving more money and the percentage becomes a diminishing amount. It should be quite easy to check that BNB price increases when ETH gas costs are becoming more expensive. or alternatively the move from crypto projects from ethereum to matic/polygon, because gas fees become prohibitive for use/energy movement.

[@jbennison5672]

Saylor is a btc maxi.