when we look through the long corridors
of human history from our journey from
the swamps to the Stars
we've had these innovations that come
about from brilliant minds you know the
coining of gold and silver thousands of
years ago
Nicholas Copernicus with heliocentric
theory in the quantity theory of money
Isaac Newton coming up with the gold
standard itself that laid a foundation
for peace and prosperity and world trade
on a massive scale the brightest mind
ever in human history johann van Goethe
a 215 IQ 30 points higher than Isaac
Newton's he wrote in Faust about all the
negative effects that come to society
when the government or the state takes
control of the monetary unit and at the
end of the day gold and silver and I
would put Bitcoin they're not just mere
commodities but they're essential checks
and balances in the political machinery
they stand in the same place as
constitutions and Bills of right this
isn't about money or merely making money
it's about whether individuals will make
their choices or whether monetary elites
will make the choices for them it's
going to be in my opinion a very bright
future
because if we really want to change
things we have to change the economics
and through all of human history if we
look at the economics of violence has
been very profitable to engage in
violent activity conquering a
neighboring tribe stealing their crops
taking their land the Industrial Age we
needed force to be projected on a
massive scale to protect our railroads
the holders of capital could easily be
extorted the coal mine by taxes by
organized labor but as we move into the
Information Age Diffie and Hellman came
up with a sum
metric cryptography public key private
key encryption which is a vital
component of Bitcoin itself and some of
the original cypherpunks realized the
economic implications of this asymmetric
cryptography because the laws of the
universe they bless nuclear power and
nuclear weapons but they also bless the
laws of mathematics and this asymmetric
cryptography and at the end of the day
no amount of violence will solve a math
problem you cannot direct a nuclear bomb
at a math problem and solve it that is
just not how math works period and with
asymmetric cryptography it has changed
the economics of violence this is a
tectonic layer for guiding human action
in human behavior because now the costs
of protection has rapidly plummeted and
become free in a lot of cases and yet
the return on investment from attempting
to extort it's just not possible I mean
you can tax the coal mine and you can
you know organize labor but like with
the Information Age assets they're
increasingly fleeing into these areas
where they can secure protection behind
cryptography and that's a big deal
because now holders of capital whether
it's the ultra-rich or whether it's
someone in the developing world they can
now secure protection for their money
basically for free using open source
software and that's a huge huge deal
because our freedom is directly
proportional to the amount of protection
that we're able to secure for ourselves
and this is a huge force multiplying
technology that we're able to use to
secure that freedom
and at the end of the day it changes the
economics of violence and it makes
violence not very profitable anymore in
fact it makes violence a negative wealth
a wealth destroying activity and that I
think will change the underlying
tectonics tectonic plates that all of
our human action is based on and will
lead to a much more peaceful world a
world where property rights are defined
and protected by Lewton by mathematical
code regardless of what centralized
third parties want to do even if those
third parties control violence on an
enormous scale that violence will be
impotent against the math
you