Michael Saylor, Business Intelligence Expert, Bitcoin Analysis on Fox Nation’s “Tucker Carlson Today”
MicroStrategies co-founder Michael Saylor discussed Bitcoin in the latest edition of “Tucker Carlson Today” on Fox Nation.
Saylor, a business intelligence expert, explained why he thinks cryptocurrencies can be an important asset as governments are increasingly inclined to print money and cause inflation as a bigger alternative. subtle to tax increases or spending cuts.
âBitcoin is the solution,â Saylor said. âNow go back to the beginning, what is money? Well, an economy is made up of goods, services, and goods. You know, I want you to do something for me. I want this product. . I want you to make something for me. I want this house. I want this land. It’s half the economy. “
“Now the question is, how do I send you 37 horsepower? And then how do we keep the books in balance? So you have to send money back to me. Money is socio-economic energy,” a- he continued. “This is … money is monetary energy, or it is the energy, the transport energy that we use to trade. If I can send you 10 bushels of corn and you can send me money equal to 10 bushels of corn, then we can trade with each other. “
Saylor explained that the contemporary world settled on paper and precious metal currencies after earlier legal prices were mined or found to be faulty.
He gave the example of an African country using glass beads as currency, which could then have been exploited by a European country with the capacity to make glass beads and essentially over-inflate African currency.
âIt turns out it’s a lot easier to print money than it is to tax people. And so it’s either inflation or taxation,â Saylor said. âThroughout the history of the world, since the ancient Roman Emperors, every coinage system – every monetary system ever established – has collapsed due to inflation.
Saylor added that Bitcoin removes the human inclination to corrupt systems like currency by creating a mostly blind bank that regularly updates a ledger with bitcoin or other cryptocurrency.
“I can print money, can’t I?” Look at Venezuela, look at Zimbabwe, they can print money. You can give someone a trillion dollar bill. But that doesn’t create more stuff, does it? You just do paper. So ultimately this inflation only works to a certain extent if you can export it, âhe said.
“And what you do is you don’t create anything. What you do is redistribute the wealth.”
“So money is essential to civilization. The problem is inflation. And why does this happen? It is a natural human condition,” said Saylor. “Because you have an authority that controls money, the temptation to inflate the money supply is pervasive and unavoidable. And every civilization has suffered at some point.”
âWhat is Bitcoin? Well, Bitcoin is the world’s first designed monetary systemâ¦ Using these two technologies, they conceptualized the idea of ââan immutable ledger, if you will, a bank in cyberspace. . “
âWe want to put our money into it. And we don’t trust each other,â said Saylor. “We don’t trust the government. We don’t trust any company. We don’t even trust any computer. So we create a program that keeps track of a ledger, 21 million coins or stock in it. the bank divisible by 100 million called – up to one satoshi, so 2.1 quadrillion satoshis. “