Podcast Summary
The internet's role in Bitcoin's creation and growth: Bitcoin, a digital cash system, thrives on the internet's neutrality and enables peer-to-peer transactions without intermediaries, fueling financial innovation.
The internet has revolutionized communication and information sharing, enabling the creation and spread of new ideas like Bitcoin, which functions as digital cash on the internet with a decentralized, shared ledger system. Bitcoin's value comes from its scarcity and the consensus that it has value. Despite skepticism, Bitcoin's ability to facilitate peer-to-peer transactions without intermediaries makes it a significant development in the financial world. The internet's neutrality and ability to transmit information freely have been instrumental in Bitcoin's growth, and its impact is expected to continue fueling innovation on the internet.
A decentralized form of digital money: Bitcoin's value comes from its scarcity, limited to 21 million, and its potential to create a global monetary system outside traditional institutions
Bitcoin represents a revolutionary new form of peer-to-peer, community-driven money that operates independently of traditional financial systems and rules. This concept is challenging to embrace due to the deeply ingrained cultural significance of money as a physical commodity, such as gold, or a fiat currency backed by the productive capacity and legal system of a country. Bitcoin's value comes from its scarcity, which is achieved through an algorithmic system that limits the total number of coins to 21 million. Despite its complexity, Bitcoin's concept of scarcity and limited supply addresses the need for a sound basis for money, which cannot be forged or easily transported. While it may be difficult for some to grasp, Bitcoin's potential lies in its ability to create a decentralized, global monetary system that operates outside the constraints of traditional financial institutions and systems.
Bitcoin as an alternative currency in unstable economies: Bitcoin's decentralized nature and potential value make it a viable alternative to traditional currencies in countries with economic instability, offering a way to bypass corrupt systems and facilitate transactions easily.
Bitcoin and other cryptocurrencies have the potential to disrupt traditional currency systems, particularly in countries with unstable economies and high inflation rates. The value of Bitcoin is not based on physical units or established ideals, but rather on what others are willing to pay for it. This can provide an alternative for people trapped in difficult economic situations, allowing them to bypass corrupt systems and make transactions more easily. While Bitcoin is not yet widely used as a primary means of income or transaction, it's gaining popularity and acceptance in various industries and communities. The speaker, who earns a living entirely from Bitcoin, emphasizes the once-in-a-lifetime opportunity it presents for those involved in technology and distributed systems. The black market or gray market for currencies is common in many parts of the world, and Bitcoin could potentially become a viable alternative for these transactions.
Sending Bitcoin is like sending an email: Bitcoin is a digital currency secured by a key on your phone, transferable through an app, and can be backed up or printed. Traditional financial institutions are adopting it.
Bitcoin is a digital form of cash that can be transferred through an app on your phone. It's like sending an email with your Bitcoin address, which is similar to an email address. The digital amount is secured by a key on your phone and recognized by the entire network as a valid transaction. While there are risks, such as losing access to your phone, precautions like multiple passwords and backups can be taken. Unlike physical money, digital money can be copied and backed up, and can even be printed on paper. Traditional brokerages are already dealing with Bitcoin through specialized exchanges, and it's expected that banks will adopt Bitcoin in the future. Overall, Bitcoin is a sophisticated and evolving technology that goes beyond the image of dorks and dragons money.
The creation of Bitcoin by an unknown entity in 2008 as a decentralized digital currency: Bitcoin, a decentralized digital currency, addresses the issue of trust in digital transactions through a decentralized network and complex mathematical algorithms, making it a disruptive force in the financial world.
Bitcoin, a decentralized digital currency, was created by an unknown person or group of people using the pseudonym Satoshi Nakamoto in 2008. The innovation behind Bitcoin lies in its ability to operate without a central authority or institution, instead relying on a decentralized network and complex mathematical algorithms to ensure trust and security. This was a solution to the long-standing problem of ensuring trust in a digital currency without relying on a central authority. Prior to Bitcoin, attempts at digital cash had failed due to the need for a central server or authority, which could be shut down or controlled by traditional financial institutions. Bitcoin addresses this issue through a process called mining, where participants on the network use specialized computers to solve complex mathematical problems and validate transactions. This decentralized approach has made Bitcoin a disruptive force in the financial world, with potential implications for traditional banking and financial systems.
Bitcoin mining: A competition for computing power and energy consumption: Bitcoin mining involves solving complex math problems for rewards, leading to intense competition, specialized systems, and high energy consumption. It's the backbone of the Bitcoin network, powering a new economy with advantages like security and anonymity.
The Bitcoin network operates on a decentralized system where transactions are recorded in blocks, and creating a new block comes with a reward in Bitcoin. This process, called mining, requires solving a complex mathematical problem, which is done by individuals using their computer's processing power. Bitcoin mining has led to an intense competition and an arms race for computing power, resulting in specialized systems and significant energy consumption. The Bitcoin network is currently the largest computing experiment on the internet, and it has given rise to a new economy, offering advantages such as security and anonymity, especially for those in environments where traditional money exchange is difficult. For instance, Bitcoin's use in sex work is suggested due to its ability to provide a safer exchange and protect users from extortion and exploitation.
Bitcoin: More than just a digital currency: Bitcoin democratizes money, offers life-changing opportunities for the unbanked, and reduces international remittance fees.
Bitcoin is more than just a digital currency for criminal activities. It's an invention that democratizes money and allows people to move value across the internet. For the billion people with advanced banking facilities, it might be a fad. But for the other six billion with limited access to banking and international finance, Bitcoin offers a life-changing opportunity to improve their economic situation. The implications for poverty alleviation, especially in the developing world, are staggering. For instance, international remittances currently cost billions in fees, but with Bitcoin, these costs could be significantly reduced. However, it's important to remember that Bitcoin is not just money; it's the internet of money, and it allows individuals to hold and control their money without interference from states or corporations.
Impact of Bitcoin on people with unstable currencies: Bitcoin offers control and direct transactions, but requires security measures to protect against hacking and theft
Bitcoin, as a decentralized digital currency, has the potential to significantly impact the lives of people in countries with unstable currencies by providing them with greater control over their money and the ability to send it directly to one another without the need for intermediaries like banks. However, with this newfound freedom comes the responsibility to secure Bitcoin properly, as there have been instances of hacking and theft. Unlike traditional currencies, Bitcoin transactions are not traceable, making it important for users to employ additional security measures such as two-factor authentication and multi-signature transactions. While Bitcoin may not completely replace traditional currencies like the US dollar, it could potentially change the power balance and reduce their relevance in a world where individuals have more control over their money.
Digital assets come with unique risks due to decentralized nature: Digital assets, like Bitcoin, have potential rewards from early adoption but come with risks of loss due to decentralized system, no central authority or insurance, and reliance on miners for security.
Digital assets, such as Bitcoin, are highly valuable but come with unique risks. Once digital assets are moved from a secure location, they can be lost forever if not retrieved. This is due to the decentralized nature of these assets, which relies on a network of miners to secure transactions and validate the ledger. This means that there is no central authority or insurance to protect these assets, making security a top priority. The story of the student who discovered old Bitcoin worth over $900,000 is a reminder of the potential rewards of early adoption and investment in these assets. However, the risks are also significant, as seen in the story of the Bitcoin left on a hard drive and accidentally discarded. Miners play a crucial role in securing the network by verifying transactions and validating the ledger, earning rewards in Bitcoin for their efforts. This decentralized system is cheaper than traditional payment systems, but the lack of a central authority also means that there is no recourse if assets are lost. As digital asset adoption continues to grow, it is essential to understand these risks and take appropriate measures to secure digital assets.
Decentralized digital currency operated on a consensus asset ledger: Bitcoin is a decentralized digital currency that operates on a consensus ledger, ensuring security and preventing cheating, immune to regulation and legal issues faced by centralized currencies, and powered by open-source software for transparency and interoperability.
Bitcoin is a decentralized digital currency that operates on a consensus asset ledger, where transactions are verified and agreed upon by a network of computers, ensuring security and preventing cheating. Unlike traditional currencies, Bitcoin has no central location, company, or leader, making it immune to regulation and legal issues faced by centralized currencies. The Bitcoin network is powered by open-source software, which is transparent and accessible to everyone, allowing multiple versions to coexist and function interchangeably on the network.
Decentralized network with trust through computational means: Bitcoin operates on a decentralized network, eliminating the need for a central authority or server, and all transactions are validated collectively, ensuring trust and preventing cheating.
Bitcoin operates on a decentralized network where trust is established through computational means rather than physical access. This means that anyone can participate in the network, and all transactions are validated collectively, making it impossible to cheat the system. The common language or protocol, Bitcoin, enables various applications and wallets to function seamlessly within the network. Despite legal concerns, Bitcoin is considered a legal currency, and users are required to pay taxes on their Bitcoin transactions and income, just like with any other currency. The decentralized nature of Bitcoin eliminates the need for a central authority or server, making it resilient to potential shutdowns or control by governments or financial institutions.
Bitcoin's Criminal Activities vs. Legitimate Uses: Despite sensationalist media reports, Bitcoin has numerous legitimate uses and benefits, including job creation, innovation, and economic growth. The IRS effectively tracks down Bitcoin transactions, and individuals should not overlook their tax obligations.
Bitcoin, like any other currency or technological innovation, has its share of criminal activities, but it also offers numerous legitimate uses and benefits. Comedians and some individuals may overlook their tax obligations with Bitcoin, but the IRS is just as effective in tracking down Bitcoin transactions as they are with traditional currencies. Bitcoin is being used by various sectors, from schools and churches to startups and charities, and it's important not to be misled by sensationalist media reports. The focus should be on the potential for job creation, innovation, and economic growth that Bitcoin represents. The arrests of a few individuals should not overshadow the vast number of positive stories and potential uses of Bitcoin.
Prohibitionist policies fuel profits for criminal organizations: Prohibitionist policies create massive profits for criminal organizations, leading to widespread corruption and even encouraging legal entities to engage in illegal activities.
The war on drugs and similar prohibitionist policies create massive profits for criminal organizations, which can lead to widespread corruption and even encourage legal entities to engage in illegal activities. This was highlighted in the case of banks knowingly facilitating money laundering for drug cartels, which received only minimal consequences. The issue is further compounded when law enforcement itself becomes corrupt, leading to a vicious cycle. Similarly, providing tools for criminal activities, such as selling guns to drug lords, is equally problematic and undermines trust in those in power. Ultimately, these policies and actions perpetuate a system that rewards criminal behavior and makes it difficult for society to truly address the root causes of these issues.
Decentralized Alternative to Traditional Financial Systems and Laws: Bitcoin's decentralized and mathematically-driven approach reduces uncertainty and risk, enabling peer-to-peer transactions and the creation of unchangeable, enforceable smart contracts, eliminating the need for centralized authorities and ambiguous language-based laws
Bitcoin and the underlying blockchain technology offer an alternative to traditional financial systems and laws, which many people view as being controlled by untrustworthy entities. Bitcoin's decentralized and mathematically-driven approach reduces uncertainty and risk, allowing for peer-to-peer transactions and the creation of smart contracts. These contracts, executed based on mathematical rules, can include digital deeds, trust funds, and wills, which once executed, are unchangeable and enforceable by the Bitcoin network. This eliminates the need for centralized authorities and their ambiguous language-based laws, offering a more transparent and trustworthy solution for simple transactions.
Decentralizing decision-making systems with Bitcoin: Bitcoin's decentralized network enables self-executing, smart law and could revolutionize various aspects of society, including education, law enforcement, and more. Its legality and growing acceptance by governments further solidify its potential impact.
Bitcoin represents a significant step towards decentralizing decision-making systems, starting with monetary transactions. By utilizing a decentralized network to agree on the truth of transactions, Bitcoin enables a form of self-executing, smart law and could potentially revolutionize various aspects of society, including education, law enforcement, and more. The internet's decentralization of communications laid the groundwork for this innovation, and Bitcoin's legality and growing acceptance by governments further solidify its potential impact. Despite concerns, there is no imminent threat of Bitcoin being shut down, and politicians are generally open to its potential benefits.
Bitcoin and related technologies driving innovation in finance despite economic stagnation: Thousands of jobs created, potential disruption seen by banking industry, comparisons to earlier disruptive technologies, challenges with taxation and regulation, increasing adoption, IRS expected to provide guidance, consensus is that Bitcoin and related technologies are here to stay
Despite economic stagnation, Bitcoin and related technologies have created thousands of jobs and are driving innovation in finance. The banking industry, while acknowledging potential disruption, sees opportunities to adapt and benefit from this technological shift. Comparisons can be drawn to earlier disruptive technologies like MP3s in the entertainment industry. While there are challenges, such as taxation and regulatory issues, many believe the benefits far outweigh the drawbacks. Bitcoin usage is still not widespread but is growing steadily, with increasing numbers of merchants and startups embracing the technology. The IRS is expected to provide guidance on taxation, and many believe this will encourage wider adoption. Overall, the consensus seems to be that Bitcoin and related technologies are here to stay, and those who can adapt and innovate will reap the rewards.
Bitcoin's Growth and Innovation Amidst Regulatory Challenges: Bitcoin, an innovative technology with vast potential, faces regulatory hurdles but continues to evolve, despite varying government stances.
Bitcoin, like the internet in its early days, is currently experiencing rapid growth and innovation, despite not yet being mainstream or universally accepted. The technology behind Bitcoin, which has already spawned numerous other currencies, is here to stay. However, the regulatory environment varies greatly from country to country, and some governments have taken a hostile stance towards Bitcoin use. Russia is one example, but even in such cases, a ban on Bitcoin may not have the intended effect and could potentially harm the country more than the currency itself. Overall, Bitcoin is still in its infancy, but it's getting better every day and holds significant potential for the future.
International tensions leading to unusual public displays: Historical grievances, political ideologies, authoritarian rule, controversial laws, and underground economies shape the complexities of international relations, showcasing the resilience of human spirit.
International political tensions can lead to unusual public displays, such as Russian President Vladimir Putin swimming in a lake while U.S. President Barack Obama worked out nearby. The underlying cause of their strained relationship was discussed, including historical grievances over territorial disputes and differing political ideologies. Putin's authoritarian rule and controversial laws, particularly those affecting the LGBTQ+ community, were also highlighted. Despite these laws, Bitcoin and other underground economies continue to thrive in Russia due to the population's disregard for arbitrary and capricious laws. The conversation touched on various topics, including the history of Alaska's sale to the U.S., the harsh Russian climate, and the impact of Soviet history on contemporary society. Overall, the discussion provided a unique perspective on the complexities of international relations and the resilience of human spirit in the face of adversity.
Bitcoin's Unique Opportunities for Insurance and Financial Protections: Bitcoin's decentralized nature enables unique insurance and financial opportunities, including embedded insurance contracts and escrow services, and a thriving charitable giving culture.
Bitcoin, as a decentralized digital currency, offers unique opportunities for insurance and financial protections that traditional money cannot provide. Companies like Lloyds of London are already offering Bitcoin storage insurance, but the real innovation lies in embedding insurance contracts and escrow services directly into Bitcoin transactions. This opens up new possibilities for various forms of insurance, escrow, and financial protections. Additionally, Bitcoin's charitable giving culture is another significant aspect, with users frequently donating or giving away their Bitcoin to various causes and organizations, including WikiLeaks, which has seen a surge in donations due to the decentralized nature of the currency. The underlying technology of Bitcoin, which enables computational agreements on the network, has led to the creation of numerous altcoins, some of which are innovative, while others are fads or pump and dump schemes. Ultimately, the value of Bitcoin comes from the vast investment in resources, computing equipment, and companies dedicated to its growth.
Cryptocurrencies with Value: Bitcoin vs. Alternatives: Bitcoin, as the current leader, has a strong network effect and a large capital base, but alternatives like Litecoin, Dogecoin, and Ethereum offer unique features or solve specific problems, and their value should be evaluated based on underlying technology and the value they bring.
While there may be tens of thousands of cryptocurrencies emerging, not all of them will hold monetary value. The value of a cryptocurrency depends on the economy and infrastructure behind it. Bitcoin, as the current leader, has a strong network effect and a large capital base, making it difficult to unseat. However, there is room for alternative coins that offer unique features or solve specific problems that Bitcoin cannot. Examples include Litecoin, Dogecoin, and Ethereum. The value of these coins can fluctuate greatly, but some, like Bitcoin, have proven their worth and continue to innovate. Ultimately, it's essential to evaluate each coin based on its underlying technology and the value it brings to the table.
Bitcoin's small market size causes price volatility: Bitcoin's small market size and shallow liquidity lead to price fluctuations, but as the market grows, volatility decreases.
The volatility of Bitcoin's price is due to its small market size and shallow pool of liquidity. The speaker explained that Bitcoin's total market capitalization is around $10 billion, which is small compared to other currencies and even tech stocks. This small size results in price fluctuations every time someone buys or sells, causing the value to change significantly. However, as the market grows, the waves of volatility get smaller, making Bitcoin less volatile over time. The price of Bitcoin is determined by the free market, with buyers and sellers setting the price through transactions. Despite the potential for manipulation, the speaker noted that all markets are rigged to some extent, and the volatility in Bitcoin is not unique.
Bitcoin vs Real Economy: Manipulation and Value Increase: Bitcoin, a decentralized, deflationary currency, is less manipulated than the real economy. Its potential to increase in value and popularity makes it a long-term store of value. Transactions are fast and fee-free.
While there is manipulation in the Bitcoin market, it primarily occurs in the exchange rate and not the supply of money. In contrast, the real economy, including the stock market and currency, is rigged and manipulated by central authorities like the Federal Reserve. Bitcoin, being a decentralized, deflationary currency, has the potential to increase in value as more people use it. Crypto currencies, including Bitcoin, are here to stay and will change finance and banking. Bitcoin has a good chance of becoming a long-term store of value due to its growing popularity and unique characteristics, such as its constant creation and limited divisibility. Transactions in Bitcoin can be made quickly and with no fees, making it an attractive alternative to traditional financial systems.
Bitcoin transactions with large sums can raise suspicions due to user anonymity: Despite Bitcoin's transparency, large transactions can seem suspicious due to the anonymous nature of users. Not all Bitcoin transactions are illegal.
Despite the transparency of Bitcoin transactions on a public ledger, the large sums moving through it can still raise suspicions due to the anonymity of users. For instance, a $150 million transaction between two addresses might seem suspicious because of the lack of information about who is behind those addresses. The Bitcoin network has seen larger transactions worth billions of dollars, but the mystery surrounding Bitcoin and its users can make even large transactions seem unusual. The Silk Road case is a reminder of the association between Bitcoin and illegal activities, but it's important to remember that not all Bitcoin transactions are illegal. The sale of seized Bitcoins by law enforcement agencies can create opportunities for discounted purchases, but the legality and timeline of such sales are still uncertain.
Unfair treatment in Bitcoin laws: The ambiguity of Bitcoin laws can result in unequal treatment and harsh consequences for individuals, while corporations get away with money laundering.
The ambiguity surrounding the use of cryptocurrencies like Bitcoin in illegal activities and the uneven application of laws and regulations can lead to unjust situations. For instance, a young person could face severe consequences for using Bitcoin in a drug transaction, while a large corporation can engage in money laundering on a grand scale and face only fines. The underlying technology of Bitcoin, being open-source and based on math, is not mysterious and can be understood by anyone. However, the legal and regulatory landscape surrounding its use is complex and can lead to confusion and unequal treatment. It's important to advocate for clear and consistent rules and regulations to ensure fairness and prevent the targeting of vulnerable populations. The recent change in policy allowing the banking of marijuana sales revenue is a positive step towards addressing this issue.
Mysterious Creator of Bitcoin: Satoshi Nakamoto: Satoshi Nakamoto, a cryptography, economics, and digital currency expert, anonymously created Bitcoin in 1990s due to past oppressive environments for digital currency pioneers, leaving an intriguing backstory to the revolutionary technology
Satoshi Nakamoto, the mysterious creator of Bitcoin, remains an enigma. Despite ongoing speculation and investigations, Nakamoto's true identity remains unknown. What we do know is that they were a scientist deeply involved in cryptography, economics, and digital currencies, contributing to the community for years before releasing the groundbreaking Bitcoin whitepaper. Their decision to remain anonymous was likely driven by the oppressive environments faced by some digital currency pioneers during the 1990s. The intrigue surrounding Nakamoto's identity has led to various theories and investigations, making for an intriguing backstory to the revolutionary technology they gifted to the world. Ultimately, the focus should remain on the transformative impact of Bitcoin and the technology behind it, rather than the identity of its inventor.
Bitcoin as a child of the internet enabling trustless transactions and funding independent content providers: Bitcoin empowers decentralized transactions and could disrupt traditional media models by funding content and infrastructure independently, while net neutrality's compromise raises concerns about industry concentration and control.
Bitcoin represents the decentralized power of the internet, allowing for trustless transactions and the potential to fund independent content providers and infrastructure. The discussion also touched upon the importance of net neutrality and the potential consequences of its compromise. Bitcoin, as a child of the internet, enables small transactions and could disrupt traditional media models by providing a third way for funding content and infrastructure, independent of advertising or selling personal information. However, the recent court decision against net neutrality has raised concerns about the potential for concentration and control in the industry.
Preserving the magic of the internet with net neutrality: Net neutrality ensures equal access to the internet for all, preventing ISPs from discriminating against certain content and limiting access based on their own interests. A decentralized solution using cryptocurrencies could promote fairness and equality on the internet.
The removal of net neutrality rules could lead to internet service providers (ISPs) discriminating against certain content and limiting access based on their own interests. This could negatively impact innovative companies like Netflix, Spotify, and Pandora, as ISPs may prioritize their own streaming services over competitors. The internet's magic lies in its openness and equal access for all, which is why net neutrality is crucial. The Electronic Frontier Foundation (EFF) has been a long-time advocate for net neutrality and has fought several significant cases against organizations and service providers trying to prioritize traffic. A potential solution to this issue is the use of cryptocurrencies like Bitcoin, which could enable users to pay content providers directly for their services instead of relying on ISPs. This could promote a more decentralized and fair internet. Overall, defending net neutrality is essential to preserving the internet's magic and ensuring equal access for all.
A computer scientist's passion for Bitcoin's potential: A seasoned expert saw Bitcoin as more than a currency, invested heavily, and remained committed despite initial financial struggles due to its potential as a consensus network with endless possibilities beyond financial transactions.
The speaker, a seasoned computer scientist and security expert, is deeply passionate about Bitcoin and its underlying technology due to its potential to democratize money and information. He made a conscious decision to invest heavily in Bitcoin two years ago when it was still a risky and unprofitable venture, driven by his expertise in distributed systems and security. The speaker saw Bitcoin not just as a currency, but as a consensus network with endless possibilities beyond financial transactions. Despite the initial financial hardships, he remained committed to building a career in this exciting technology, seeing it as a second chance to be on the ground floor of a revolutionary innovation.
Recognizing Bitcoin's potential for exponential growth and network effect: Early Bitcoin adopters saw its potential for decentralization, exponential growth, and network effect, leading them to build businesses, learn, and invest in it.
Bitcoin, with its decentralized network and potential for exponential growth, was seen as a game-changer by early adopters. They recognized the technology's potential for creating a network effect, making it more valuable as more people joined. The interviewee, who became deeply involved in Bitcoin two years ago, spent months learning about it, building businesses around it, and eventually buying some. Today, he continues to advocate for Bitcoin, working in the industry, and writing code. Despite the uncertainty about Bitcoin's future value, he is convinced of its potential and sees it as a significant shift in the world of money.
Exploring the Mystery of Bitcoin's Creator and Getting Started with Cryptocurrencies: Download a wallet app like Blockchain to get Bitcoin, mine it using a computer, or follow experts like Antonopoulos for insights on this revolutionary technology
Cryptocurrencies, particularly Bitcoin, are seen as a revolutionary technology with the potential to decentralize money and significantly impact people's lives. The identity of Bitcoin's creator, Satoshi Nakamoto, remains a mystery, adding to the intrigue. To get started with Bitcoin, one can download a wallet app like Blockchain and receive some Bitcoin. Mining Bitcoin using a computer requires energy consumption but can generate a small amount of Bitcoin. The passion and dedication of individuals like Antonopoulos, who deeply believe in the potential of cryptocurrencies, serve as an inspiration for pursuing one's interests. For more information or to engage with Antonopoulos, follow him on Twitter @Aantonop.
Joe Rogan's Dallas Performance and Ticket Availability: Joe Rogan's Dallas show on March 14th, 2023 is sold out, but tickets may be found from individuals or online sellers. Sponsors include Squarespace, LegalZoom, and Onit, with discount codes 'Joe' and 'Rogan'.
Joe Rogan will be performing in Dallas, Texas at the Verizon Theatre on March 14th, 2023. This event is sold out, but those interested can try to find tickets from individuals unable to attend. Rogan mentioned that attending this event supports scalpers, so an alternative would be to search online for ticket sellers who cannot go. This performance is the day before a UFC event at Dallas Stadium with an estimated 50,000 seats. Sponsors mentioned during the podcast include Squarespace.com, where using the code "Joe" saves 10% off the first purchase, and LegalZoom.com, which offers legal services online using the code "Rogan." Lastly, Onit.com was mentioned, where using the code "Rogan" saves 10% off any and all supplements.