MSTR/STRC Outlook, Bitcoin's Security Budget & AI, Evaluating the Nation-State Threat
PBJ0:00 Getting off Twitter, losing passwords, and staying up to date with Stackernews
4:30 Why we find the Strategy conversation interesting, and we will still cover basketball
7:11 Can MSTR blow up? Unpacking the claim that Saylor is a new SBF
13:34 What are the outcomes and probabilities of Bitcoin and MSTR's future
21:00 How much does bitcoin need to grow to support MSTR's credit products?
25:00 Is the biggest risk Coinbase and its custodians or esoteric DeFi demand?
32:15 What's the investment thesis of holding MSTR vs STRC?
41:40 Finding new products from the synthesis of old concepts
45:41 Using Proof of Work for hot tubs creates a security issue?
55:55 Bigger picture and putting into context the security budget for bitcoin
1:05:27 Is this a design flaw of bitcoin?
1:11:40 Underlying issue is we don't know what the annual security budget should be.
1:21:00 What are the attack vectors to Bitcoin from a non-economic actor, like a nation-state?
SHOW NOTES:
Transaction Fee Paper (Budish, 2024)