If for any reason the Odysee video above does not play well for you, the back up YouTube version is here.
Recently I did “What is Bitcoin Backed By – Miyagi Mornings Epi-135” – http://www.thesurvivalpodcast.com/miy-epi-135 but as I continue to learn more about Bitcoin every single day myself, I find new ways to explain things that may make more sense to more people.
Today I will walk you though a thought experiment where I approach you as a perspective borrower and in our story you will be a bank loan officer. I will begin with asking you for 400,000 US dollar. In collateral I will initially offer my personal income and a building worth 100,000 dollars as a structure, and it will have a 90,000 dollar mortgage on it. Hence it will appear to only have 10,000 in equity. My income will only be say 100,000 dollars a year. Of course you will tell me to go pound sand and to stop waisting your time.
I will then lay something in front of you, a set of prints that shows you what is inside the building. I will also lay down my corporate income inside that building and tell you where it comes from. At the point I get to we will both agree you would happily loan me the money and know your debt was a solid issuance.
Once we get to that point, I will expand the concept and I think this episode will cause more “lightbulb moments” on Bitcoin than anything else I have ever said.
- Flag Featured in this video is here – https://amzn.to/36wGHXK
- Microphone I use – https://amzn.to/3AXdS4C
- The Bitcoin Standard: The Decentralized Alternative to Central Banking – https://amzn.to/3BmbtAT
- Referenced Podcast on What Bitcoin Did with Jack Mallers – https://bit.ly/mallers-lightning
- Referenced Podcast on What Bitcoin Did Gradually then Suddenly Part One – https://bit.ly/grad-sud-1
- Referenced Podcast on What Bitcoin Did Gradually then Suddenly Part One – https://bit.ly/grad-sud-2