Final Settlement E002: Energy-Backed Money with Max Webster

Final Settlement: a biweekly podcast presented by Onramp which explores the breadth and depth of the Bitcoin thesis, focusing on the underlying mechanics of the protocol, its ongoing development, and real-world applications of the technology. Hosted by Brian Cubellis (Head of Strategy & Research at Onramp) and Michael Tanguma (Co-founder & CEO of Onramp), Final Settlement aims to go beyond the conventional view of Bitcoin as merely a financial asset, or “digital gold.”

Discover how this groundbreaking technology has the potential to benefit society through rearchitecting how value is stored and transferred. A resource for institutional investors and bitcoin enthusiasts alike, our discussions aim to enhance your understanding and conviction in Bitcoin’s broader utility – tune in to grasp the full scope of bitcoin’s transformative power in the digital age.

0:00 – Introduction to Max
5:30 – Bitcoin as energy-backed money
17:58 – Other forms of commodity money
20:23 – Free markets for electricity
23:03 – Opportunity costs & bitcoin as a tether to reality
28:13 – Building layers atop bitcoin
31:33 – Market-ranking systems
36:38 – A message from Onramp
36:54 – The Bitcoin Ouroboros: rebuilding internet infrastructure
42:53 – Applying altcoin ideas to bitcoin
47:25 – Next wave of bitcoin applications
50:43 – Investing in bitcoin startups
56:13 – The state of Lightning & balancing development
1:02:55 – Fund structure & philosophy
1:08:45 – Diversity of custodial solutions
1:12:07 – Limited downside & uncapped upside
1:17:53 – Wrapping up

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