Part 4/15:
Yakes emphasizes that money fundamentally possesses six core properties: scarcity, durability, portability, divisibility, recognizability, and fungibility. He advocates for a seventh property: immutability—the idea that money should be resistant to change and control, making it a true store of value free from human interference.
He contrasts the evolution of money from gold and silver to fiat currencies, pointing out that each transition involved a trade-off—trust in government, centralization, and the risk of debasement. Bitcoin's technological innovation, particularly its immutability and decentralized verification, potentially eliminates many of these trade-offs. If money can be made immutable, societies might be less prone to destructive cycles of inflation and systemic decay.