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The Game of Money

The video excerpt frames the economy as a "game of money" and contrasts two distinct versions: "Game One," the current system of government-issued fiat money, and "Game Two," a proposed alternative represented by Bitcoin. Game One is described as the "referee's game," where central authorities can unilaterally change the rules, leading to inflation, punishing savers, and forcing individuals to adopt a high time preference—the desire to spend immediately. Conversely, Game Two is presented as the "players' game," based on sound money with fixed, transparent rules, exemplified by Bitcoin's absolute scarcity of 21 million units. Drawing on principles like praxeology and game theory, we argue that Bitcoin's predictable scarcity fosters a low time preference, rewarding saving, and creating the stable environment necessary for long-term cooperation and prosperity among participants.