The Fourth Turning, Mycelium networks and Bitcoin
with Brandon Quittem
The Bitcoin Renaissance
Brad Mills invites Brandon Quittem onto the show to talk about mycelium fungal networks, a generational theory called The Fourth Turning, and how Bitcoin could change the global finance system. Brandon introduces himself and his background in yoga and travelling India. He travelled India for four years after quitting his corporate job. The discussion transitions into how Bitcoin resembles mycelium networks and functions not unlike a living organism. Brad remarks that after learning about the cordyceps “zombie” mushroom that takes over the mind’s of insects Bitcoin “takes over your brain”. Brandon explains what The Fourth Turning is to Brad, and the duo investigate the patterns that occur between generations that lead a Fourth Turning. Brandon believes we are in the midst of a Fourth Turning at this time, and discusses his forecast of events to come. Things such as the possibility of a civil war in America, but not in the traditional sense. Finally, the duo discuss the possibility of a “Bitcoin renaissance” in the field of global finance.
Bitcoin and Mushrooms
After introducing his guest, Brandon Quittem, host Brad Mills jumps right into the discussion about mycelium networks that Brandon mentions. A mycelium network is part of a fungi that gathers nutrients in a root-like structure. It uses enzymes to break down energy sources into nutrition which it feeds into itself and the area around it. Mycelium are a critical part of many biospheres around the world and they can vary in size, between a cluster too small to see to as large as several acres of woodlands. Brandon also remarks that this design is “lindy”, it’s a design that’s commonly seen in several evolutions. He cites how dark matter is structured in the universe, the human nervous system, and modern computer internet. All of these examples fit the same, successful, decentralized archetype.
If Bitcoin was a living thing, how would it evolve? Brandon’s observation of the fungus-like evolution of Bitcoin is spot on. Successful patterns often survive the longest. Modern internet acts as a sort of primordial soup for new technologies in that way, except selection is manmade, just like how humans shaped the evolution of crops and domesticated animals through selective breeding and seed collection. The successful iterations on networks are more decentralized and secure. As modularity grows and leads to less devastating losses in the event that a network is attacked by predators, Brandon cites as an example. Problems spread through computer networks, developers find these problems and they are fixed. In the example Brandon mentions, Bitcoin would act as the means that one cell transfers energy and nutrients to another cell. This is how mycelium networks transfer nutrients, and Bitcoin works much in the same way.
Brandon astutely compares Bitcoin to a measure of energy in this analogy. Bitcoin in this scenario acts as nutrients for its environment, which is markets. The current financial system run by the federal reserve is a decaying forest. Bitcoin stands to be a colourful change to that dying biome, as the mycelial network distributes the energy to the development of a new, healthy biome.
The Fourth Turning
In a natural segue, the life and death cycle shifts the topic of conversation to a generational theory called The Fourth Turning. Brandon elaborates on this stating that history is not necessarily a line graph, and is more of a wave function or a cycle, in essence. Brad also notes that this is seen in the memetic expression, “hard times create strong men, strong men create good times, good times create weak men, weak men create hard times”. Brandon mentions that the theory of The Fourth Turning is similar, but not exactly the same.
The science of biology has cycles from beginning to end. The cycles in nature such as lunar cycles being months, and solar cycles being years. The life and death cycle as mentioned in the mycelium discussion. The list goes on. Knowing that the design of a cycle is a good, “lindy” design, Bitcoin offers a similar structure. Brandon says “...What Bitcoin does is it liberates the resources out of that stranded asset by converting energy assets into money which can then be distributed”. Like a mycelium network spreading nutrients in a biome, Bitcoin distributes energy resources on a large scale, decentralized, nature-mimicking fashion.
Authors, William Strauss and Neil Howe propose that societies go through catastrophic events every 90 years, often climaxing in war, which is the end of a generational cycle. Brandon remarks that he thinks a civil war may be inevitable. However, it’s a whole new generation, and a civil war may not take the traditional shape one expects. Brandon thinks that this is taking shape in the form of political and rhetorical developments such as cancel culture and the media circus around Donald Trump. While not part of Brandon’s critique, author Michael Malice has talked about the cancel culture phenomenon deeply on his podcast and in his book, The New Right, which offers deep insight into the possibilities of what a Fourth Turning might look like these days.
A Bitcoin Renaissance
Brandon predicts “...Bitcoin on it’s 21st birthday, will be the end of The Fourth Turning as I see it. Around 2030”. By that time, everyone’s exhausted over whatever events the near future holds. The old financial system is put through the ringer, and after the end of it all, Bitcoin may be “...the number one contender for the foundation of a new financial system. Which I think will propel us into a new renaissance”. A very bold claim about The Fourth Turning, but it’s certainly not unfounded. Bitcoin’s system accepts price volatility in exchange for systemic stability, which Brandon notes, is a better foundation for society to sit on. He’s probably right too, given that the covid-19 pandemic has put the Cantillon Effect on full display. With that in mind, there’s no better time to invest in the Bitcoin Renaissance than now.
Time Stamps
00:03:54 - Brandon explains his background and goes into detail with mushroom networks and Bitcoin.
00:15:25 - Deeper explanation of the mycelium network and how it related to Bitcoin.
00:21:30 - Brad notes that Bitcoin takes over your brain like a cordyceps fungi.
00:27:33 - The Fourth Turning discussion starts and Brandon explains briefly what it is.
00:38:40 - Brandon predicts the timeline of The Fourth Turning and goes deeper into generational theory.
00:43:20 - The two discuss potential speed bumps in the path of the Fourth Turning such as cancel culture
00:49:30 - Brandon recalls the time he was at a protest in 2020. The two discuss the Minneapolis protests.
01:02:18 - Discussion turns to Donald Trump’s ban from twitter and the future of free speech and individual rights.
01:07:16 - Brandon notes that Bitcoin may lead to a renaissance if it replaces the current financial system
01:09:40 - Brandon and Brad discuss the benefits people experience when they understand and trade Bitcoin.
01:15:00 - Bitcoin is a peaceful revolution because it’s a credit neutral system that’s for everybody.
01:20:30 - Brad talks about the downsides of alt-coins and Brandon offers his take.
01:25:30 - As the two conclude the conversation, Brad asks Brandon for resources about Bitcoin and social link plugs.
Choice parts
00:17:33-00:18:24 “...What bitcoin does is it liberates the resources out of that stranded asset by converting energy assets into money which can then be distributed.”
00:44:14-00:44:35 “...The way that they’re (the left) is going to solve that is not through cancel culture and lynch mobs on the internet. That’s just a dead end in the culture… what we need is a catalyst that transcends left vs right.”
01:07:38-01:08:00 “I see Bitcoin as a legitimate contender, as the number one contender for the foundation of a new financial system. Which I think will propel us into a new renaissance, which could take 50-100 years.”
Podcast Mentions
Ralph Merkle and Bitcoin as a living thing
Donald Trump banned from twitter
The largest wealth transfer ever