Part 5/15:
Yakes also notes that current monetary systems rely heavily on trust—trust that central banks won't manipulate or devalue currency unjustly. Bitcoin replaces that trust with cryptographic proof, fundamentally altering how monetary value is maintained.
The Future of the Financial System and the End of Central Banking
A significant part of the discussion revolves around whether Bitcoin can replace or drastically diminish the role of central banks. Yakes argues that once Bitcoin becomes too large and secure—so much so that attacking the network would be prohibitively expensive—it will become an unassailable "truth" in money.