Video Description
@EricLarcheveque , the cofounder of @Ledger , has close to 100% of his liquid net worth in Bitcoin. Not because he wants to die with his coins, but because he understands what Bitcoin actually represents.
In this conversation we talk about time preference and why it's the center of everything. The marshmallow experiment shows that people who can delay gratification end up with better outcomes in life.
The same principle applies to civilizations. A society with low time preference builds cathedrals. A society with high time preference watches Netflix all day. And money is what shapes that behavior. When your currency loses value every year, the invitation is to spend it now on things you don't need.
When your money holds its value, you're incentivized to save and build. Bitcoin is...
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