"Table of Contents"

0:25 Short answers to why cryptocurrencies are beneficial.

1:37 Intro to the longer answer to why cryptocurrencies are beneficial.

2:29 What is a currency?

2:57 Barter: the most basic form of exchange.

4:50 Exchange is a win win.

6:08 It’s through exchange that we grow wealth. There is no limit to how much wealth we can create. (Example of Los Angeles “growing” through exchange)

7:25 The faster we can exchange the faster we can grow wealth.

8:13 Barter is a limited form of exchange.

9:22 Example of how barter cannot support a city like New York.

10:29 Currencies evolved to make exchange easier.

13:00 As the currencies evolved so did our civilization because we could accommodate more people co-operating/exchanging with one another.

16:12 Middle of the pack person in New York has more “wealth” than the king of an underdeveloped civilization because we have more people co-operating with one another.

18:05 The more people we can involve in commerce the collective wealth we create.

18:36 Cryptocurrencies can spread globally since there isn’t trust in a central authority.

19:37 Lifting people out poverty by giving them tools for participating in trade. (Africa example)

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