The Future of Capital: Bitcoin's Enduring Value

Michael Saylor argues that Bitcoin is the revolutionary solution for preserving capital in a failing economic system.

### The Importance of New Ideas and Technology in the 21st Century
The 21st century requires **new ideas and technology to thrive**, and cryptocurrency, particularly Bitcoin, is seen as a solution. Michael Saylor's discussions on Bitcoin draw from **humanity's history** and showcase a **macro perspective**, while his passionate demeanor may come off as **crazy to some**. The speaker is creating a Korean dubbed version of Saylor's speech from the July 2024 Bitcoin conference, emphasizing the **importance of understanding Bitcoin's impact on the global economy**.

### The Need for a 21st Century Approach to Wealth and Capital
Trading is restricted to certain hours and is slow and expensive, highlighting the **need for new ideas and systems**. The world's total wealth is **$900 trillion**, with Bitcoin's **$1 trillion** still representing just **0.1%**. There is over **$450 trillion** in long-term capital, and the current reliance on **insecure assets** is weakening capital preservation, driving the **need for a revolutionary approach to wealth and money**.

### The Lifespan of Financial Assets
Determining the lifespan of an asset involves calculating its **annual maintenance costs** to avoid depreciation. Financial assets, used to **preserve capital**, often fail due to **high inflation rates** and associated costs, with an average lifespan of around **30 years**. Factors such as **taxes, tariffs, and competition** further dilute the value of these assets, making them **less effective for long-term capital preservation**.

### The Challenges of Maintaining Capital Value
Political disasters and clichés can erode capital value, leading many to **abandon financial assets for physical ones**. However, physical assets like cars, yachts, and even houses can also be **costly to maintain** and may not **preserve value over time**. The lifespan of physical assets is often short due to factors like **entropy, taxes, competition, and unforeseen events**, making it difficult to **sustain them long-term**.

### The Impact and Potential of Bitcoin
Bitcoin offers a solution to the economic dilemmas caused by physical and financial assets, providing **immortal, immutable, and intangible capital**. Satoshi's creation of cryptocurrency represents a way to **escape the game's challenges and maintain equilibrium**. By converting capital from physical to digital assets, Bitcoin has the potential to **last for a thousand years**, with the ability to **transfer ownership at any time**.

### The Timeless Value of Bitcoin
Bitcoin self-custody with hardware wallets can cost as low as **0.01% annually** and potentially last for **ten thousand years**. AI managing Bitcoin's private keys could extend its value to **one hundred thousand years**, making it a more desirable asset than physical properties or gold. The speaker argues that unlike other financial and physical assets, Bitcoin's value will **not erode over time**, making it the **superior capital asset**.

### Embracing the Future: Michael Saylor on Bitcoin's Role in the 21st Century
* 🌍 "If we want to thrive in the 21st century, we need **new ideas that fit the 21st century**, and this requires **new technology**."
* 💡 Michael Saylor emphasizes that Bitcoin represents a **revolutionary shift** from outdated 20th-century economic concepts and technologies to a **new digital paradigm**.
* 📈 He highlights the current global wealth of **$900 trillion**, with Bitcoin's small yet significant presence as a **$1 trillion asset**, illustrating its **potential for growth and value preservation**.
* 💸 Saylor critiques traditional financial assets, noting that their value is often **eroded by inflation and various costs**, making them **less reliable for long-term capital preservation**.
* 🏠 He discusses the challenges of maintaining physical assets, such as real estate, and argues that **Bitcoin offers a more sustainable solution** due to its **digital nature and low maintenance costs**.
* 🔗 By using professional custodians or AI, Bitcoin can be managed efficiently, allowing it to **potentially last for thousands to even hundreds of thousands of years** without significant depreciation.
* 🚀 Saylor concludes by asserting that Bitcoin is the **ultimate solution to current economic dilemmas**, capable of **maintaining its value far beyond any traditional asset**, setting the stage for future discussions on its **explosive growth potential**.

모든 자산들이 속절없이 녹아 내릴때 비트코인만 미친듯이 계속 오르는 이유 🚀🚀 | 마이클 세일러 | 2024 내슈빌 비트코인 컨퍼런스

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