Michael Saylor the founder and CEO of MicroStrategy goes in-depth to talk about fiat currencies. He brings forward several aspects of fiat currencies and discusses it’s restrictions, risks and major issues like inflation.
Saylor points out two fundamental shortcomings of fiat currencies and gold. First is the defective base layer protocol and second is a non-existent application protocol. According to him what makes Bitcoin special is it has both base layer protocol and secure application protocol.
Watch the whole video to understand why and where fiat currencies fail and the advantages Bitcoin has over them
