Quite by accident, I saw that someone posted a link for the live stream of this event and I decided to take a look at it. It was nothing spectacular in the sense that we heard something new, so it was not to be expected that there would be an impact on price - no matter how positive EM and others were in their views. EM even had the B logo on his shirt, and let’s just say that overall his attitude towards BTC was positive.
OK. Just started watching this B word thing...
Maybe I will edit this as I go... but impressions.
Elon is stoned as fek. Seriously, or he just got up from a nap?
Elon triples down on "it's too slow, it's too expensive"
Elon reiterates for the 17millionth time he owns it (as does Tesla and SpaceX)
~22 Jack is such a classic bleeding heart. And I think he is right Bitcoin is going to benefit all the unbanked etc.
~24 I dig Cathie. She might have more basic strong sense than the other two. Recognises the BTC store of value being primary still. Seems to get off on the who "crypto" thing though. Her views on deflation are keen.
~27 Elon is pissed he's not geting a turn now.
~27 Jack touches on remittance, and bitcoins soundness and state disconnection. Touches on Verifiability. He obviously hangs on on Bitcoin Twitter.
~29 Elon misunderstands the concept of "scarcity". He is attacking LN with the Money Transmittal argument. Sounds like he's being fed by the state. Bitcoin can't scale. Brings up Doge, laughing and thinks it can be useful as a payment network because of
Mentions the "exchanges as a defacto layer 2 non-argument again.
~32 Moderator brings up that Elon's ideas would break decentralization. Elon seems to think regular users do not need to run a node. I do not believe his misunderstanding is well thought out yet.
~34.5 Mod suggests Starlink run nodes.
~35 Elon "invents" the idea of node as space heater. How original.
~35.5 Elon drinks water. He's been sounding a little dry mouthed. he is stoned.
~36 Elon likes Doge because it is dumb and would be funny if the most entertaining outcome is the most likely one.
Elon is high.
Elon drinks more water, and wonders if he could sneak off cam for a bong hit.15
Jack falls into Elon's "fun" trap.
~38 Energy use~! Oh boy.
~39 Elon is an self proclaimed expert on "renewable energy".
~40 Elon tacitly admits that the did not do appropriate due diligence before putting 1.5 BILLION.
~40.5 Elon says he has lots of bitcoin.
~41 Elon wants to do "more dilligence" to confirm the usage is <=50%, and Tesla will resume. Most likely they will.
~41:40 Cathie brings up the actual intelligent 2nd order argument of energy use secondary effect
~42 Elon thinks solar powered Bitcoin cant work when the sun is down, even though it is up somewhere on Earth all the time.
~43 Elon is pro nuclear
~44 Jack also shows that he understands the second order idea of stranded energy etc unlike the wunderdoof.
~45 Elon has given his very life to the Earth working on Tesla.
~48 Tesla is trying to be the good guys
~48.5 Elon has saved us from Bitcoin using good energy and if he had not stepped in they would have just kept shoveling coal.
~49.5 Cathie shills ESG a little. Sings Jack's hym a little on access for the unbanked and developing countries and remittances. Mentions ES, and Tonga
~51.5 Talks about the social angle of egregious fees.
~52 she brings up the social aspect of bad government. Props up the BTC transparency compared to the legacy systems. Compliments devs.
~53 Talks about Economic theory, Praises the DEVS in this regard. Calls them noble.
~54 Continues to praise bitcoin as noble as compared to the legacy system.
~55 BTC ethos
~56 Jack talks about supporting DEVS, and fighting the patent trolls, and open sourcing h/w design, and the DEV APIs
~58 Elon is asked about NYKNYC. He seems to understand it. First thing I hear him say that makes sense. He mentions that "he is a fan of decentralized finance". But like all of his other views he seems to have no nuance when it comes to custody, and key management. And what about this stupid defacto layer two exchanges concept?
~59 Elon believes in empowering people. Golf clap.
~59.5 Elon cracks himself up with the depth of his understanding of key management.
~60 The moderator brings up multisig as a solution.
~60 Elon suggests you can just put your private key "in something that has dual access or voting access". He obviously barely understands this topic as well.
~60.5 Mod challenges the interviewees saying the community wants to guard the users from rich people and corps.
~61 Cathie paints her company as a supporter of "democratization". She mentions education and research given out for free to all via social media. Encourages support of the dev community.
~63 Jack wants to push for as much decentralization as possible. Moving to non custodial solutions. Being open source, and wants to move Twitter that direction. (Blue Sky) Wants to support the community
~64 Elon asks if Twitter would take payments from advertisers in crypto.
~64 Jack wants to, but also want to focus on economic incentives w/o advertisers.
~65 Elon says something incomprehensible about incentives, and again scolds Jack for not yet letting advertisers pay in crypto. He seems to have forgotten that he is against that function at his own companies.
~65.5 Jack tolerates this and answers "100%".
~66 Mod asks Elon about his companies role
~66 Elon Wants to do things that benefit people. And "take these set of actions to make the future good" Some crypto will make the future better. i am thinking in terms of probabilities. Shills ETH and DOGE again. Will have an "empowering effect". Says some anti government stuff comparing it to the biggest corporation.
~68 Cathie has some intelligent ideas about regulations around bitcoin. Talks about how explosive the growth of trade could be because of BTC. And the idea of the hedge against inflation. Talks about the natural migration of people to BTC, and brings up deflation again. She brings up stick buybacks and counterparty risks.
~70.5 Elon says Teslas Euro bank accounts actually have negative interest rates! This is insane! What could possibly help with this?
~72 Jack talks about the beauty of the BTC network, and the bad UX/UI for end users. Wallet development is important. Brings up Muun. Seems to believe it is the type of UI that is great.
~73 Elon's hope for "crypto in general" is that it can improve the efficiency of the thing we call money.
~73.5 Cathie says money has powerful network effect, and revisits ESG and those aspirations. Solving the worlds problems. Says the words "blockchain" and "AI" right next to each other. Somehow the universe does not notice and destroy her.
~75 Jack wants Bitcoin to create world peace
~75 Elon laughs at that.
Elon is not important to bitcoin. Jack probably is. Cathie seems like a competent business woman. Sorry for the many many typos... not gonna fix em.
The start was spectacular, EM obviously wanted to send a message that BTC was heading towards Mars
