|
00:03:41.000-->00:03:43.480
|
situation that we find ourselves in.
|
|
00:03:45.240-->00:03:45.940
|
The thing is that
|
|
00:03:45.960-->00:03:49.600
|
all of the global Fiat currencies are
|
|
00:03:49.660-->00:03:53.180
|
turning on the printing presses at a disturbing rate.
|
|
00:03:53.260-->00:03:54.840
|
But what counts as victory?
|
|
00:03:54.840-->00:03:58.160
|
What counts as being sound and
|
|
00:03:58.220-->00:04:01.920
|
prudent with your particular country's currency?
|
|
00:04:02.000-->00:04:06.360
|
Well, it's inflating slightly less fast than the other guys, right?
|
|
00:04:07.060-->00:04:08.580
|
We still have this situation where
|
|
00:04:08.580-->00:04:10.580
|
if you zoom out,
|
|
00:04:10.880-->00:04:12.660
|
for example, for the US dollar,
|
|
00:04:12.740-->00:04:15.040
|
if you go to a 50-year time scale
|
|
00:04:15.140-->00:04:18.440
|
you see basically an exponential growth curve.
|
|
00:04:19.800-->00:04:23.040
|
This is a problem that all savers face --
|
|
00:04:23.060-->00:04:25.220
|
anyone who has assets to save
|
|
00:04:25.300-->00:04:28.760
|
is up against this current that's coming up against them,
|
|
00:04:28.820-->00:04:30.940
|
in that they're constantly being diluted
|
|
00:04:31.020-->00:04:34.180
|
by new money that's being created.
|
|
00:04:35.980-->00:04:38.900
|
2008 is when the Nakamoto white paper came out.
|
|
00:04:39.180-->00:04:40.860
|
This is the Bitcoin white paper,
|
