 The reality directly is it possible to have inflation you have in Bitcoin or go to currencies and it gets an area What would that look like? Well, Bitcoin currently runs at a rate of inflation of about 5%. It used to be closer to 12 It's gone down over time because if you think about it 15 new Bitcoin were being generated every 10 minutes And there wasn't enough demand in the economy to absorb that so it had an inflationary effect Now as the reward diminishes over time that inflation rate gets closer to zero And that becomes negative it becomes a deflationary currency which simulates a very scarce rare system like gold Which is part of the design characteristics of Bitcoin, but not all open public blockchains have that other Open public blockchains have more inflationary monetary policies. You can do any policy you want You can have a monetary policy that is very inflationary You can have a monetary policy that is not inflationary at all You can have a monetary policy that is so inflationary that you have 4,000% inflation a month we call that Simba way Would you okay, well it would be a good idea, but you can't do it With all these crypto currencies, okay, not emerging in the horizon, okay Would you is there a possibility for there to be any currency wall that we see in the actual world right now? Yet well Whether they like it or not digital currencies are part of the currency wars and the reason they're part of the currency wars Is because they did the unthinkable they gave people a choice to exit the currency wars That's the worst thing you could do during the currency war so for example In some places like Venezuela it is highly illegal to have or use Bitcoin And of course as you can imagine as soon as the government says that something is highly illegal and cannot be used Everybody stops using it immediately The use of crypto currencies in Venezuela quadrupled And it's a really simple idea you have a family you need to feed your family your government is giving you money that is worth nothing and Is worth more than Nothing or less than nothing tomorrow and much less than nothing the day after Or you can use this crypto currency which is highly illegal but can feed your family You're going to be a highly criminal feeder of your family That's how humans make decisions and you're going to break one more stupid law by by one more crazy government so The currency wars are happening because in many places governments are failing in their role of Delivering the fundamental functions of currency you see most of us don't ever need to worry about currency currency is one of those things that when it's working you can ignore it completely it becomes invisible is the fabric of Society you don't even know that it's a technology I go to talks and I tell people money is a technology and they don't understand what I'm talking about because they've never thought of it that way It's a language. It's a technology And it works and when it works you don't need to think about it at all But when it stops working everything fails everything stops working even the most basic of functions that worked before Fall apart so it's a very fundamental part of society. So what is the government's role in? currency Don't print too much of it because if you print too much of it its value goes to zero right? Pay the debts when they come to you so you don't default on that value Allow it to be used and make it liquid so that there's enough of it in the economy That the problem isn't that I can't find the currency even though I actually have the value All right, and allow me to use it to do international trade and trade with my neighbors for very simple things I can list two dozen governments that are breaking all forms those rules right now And that's why we have currency wars right when the government takes out 87% of all of the money in circulation with four hours notice and says, oh It's not money anymore. That's a violation of those rules when they print $100 trillion worth of debt in the last 10 years. That's a violation of those rules That is actively stealing from your savings to pay the government debt So when governments do that you have currency wars and what digital currencies do is they give people a simple choice until now they had two choices Say okay, or fight the government now. They have a third choice, which is really powerful. It's Walk away That's one of the most powerful choices that people have and when people have the choice to walk away from a mess That makes it less likely that a mess will occur Right, so yes currency wars are going to continue to happen. The difference is that now we're not talking about currency representing a nation and being tied with that national identity and the national pride and the national religion and the face of the king or the queen or the very important person now Currencies are constructs that can be created by anyone may have value may not have value may have stable value May have unstable value, but they're simple choice You can pick your currencies like you pick your male providers like you pick your TV shows You can now choose and some of them will be better for some things and some of them will be better for other things But importantly no one could stop you from making that choice now and that's a really powerful change So it's going to change the way currency wars are being fought by giving so many people so many choices That the traditional approach doesn't work anymore You see when a government creates a situation where they have hyperinflation and they have this dramatic spiral of Collapse of the economy one of the fundamental things that happens is they take the entire Population hostage they close down the borders the country becomes a prison and you go down with it What if you can exit that changes everything Bitcoin is not taking a side in these currency wars Bitcoin is going to be the Switzerland even when Switzerland is no longer the Switzerland and And Bitcoin will be the only Switzerland left standing because eventually you will have gold Confiscations Modi has been very careful to keep repeating. We won't be confiscating gold yesterday, they announced that they're going to be doing tax audits and In those tax audits anything over a certain amount of gold even if it's hanging off the neck of the married housewife in India Who are by the way the holders of the majority of gold in the world? They will be confiscating it and applying a 60% tax By the way what that actually means is That they're going to be doing spot checks on random victims Those random victims are then going to be required to pay an enormous bribe to those very corrupt officials so they can simply walk away and Corruption marches on and gets bigger and bigger you do not take a political side in this fight This is not about being pro-Modi or anti-Modi. It is not about being pro-Erdogan or anti-Erdogan It's it's about being completely neutral Bitcoin isn't taking a political Stance here. The only political stance is taking is individuals should control their own money