Money is not wealth, wealth is capital.
Dr. Craig Wright speech in Bogota, Columbia on June 21, 2019. (Introduction from 0:00 to 1:49 min)
I'm going to start by teaching you a little thing that Adam Smith taught us a long time ago. Money is not wealth. Wealth is capital. Wealth is all the things that give value to society.
Money is information. The reason we have Bitcoin is not so that we can have an asset that we hoodle. It is not so that you can have another form of speculative asset.
It is not digital gold. I did not create bit gold, I did not create e-gold. I created electronic peer-to-peer digital cash. Cash has to be used. It has to be spent. And here's the thing. To use money means you have to really decide what you're doing. You have to aim not just to consume but to create wealth. And this is the whole point.
Here in South America you have an opportunity to grow. You have a better opportunity to catch up and have faster growth than North America because they've already got certain things. The technologies already exist you can grow faster than North America and you can do this because money is information. And with Bitcoin, the way I envisioned it enables you to have information.
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