For the Full 16-hour Course: https://rebrand.ly/BitcoinCourse
In this course, we learn about money and about bitcoin. What is money? It’s something we use every day. Thus it impacts every aspect of our lives. So what is it exactly? What makes something money?
And how about the money we use today? What are the impacts of this money on us and on society?
A fundamental tool and technology we all use and interact with every day was transformed in 1971: Money. Our Money was changed. We came off the gold standard. That’s right 53 years ago we abandoned using a monetary system based on gold (gold had been used as money for over 2500 years before that), and we started to use the money we use today (FIAT money). This new money we use today is issued and controlled by the state. This means that the state can print as many units of this money as it wants. This is great for the state because it enables them to spend as much as they want (this is why the deficit is growing at such a fast pace). But for users of this money (like you and I), this isn’t great at all. This is because every time the state prints money it devalues the money we have. It loses some of its purchasing power (this is what causes inflation).
From the great Nobel Prize winner in Economic Science Friedrich Hayek:
“I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take them violently out of the hands of government, all we can do is by some sly roundabout way introduce something they can’t stop”
Here comes Bitcoin.
Money that cannot be debased by any central authority. Money that no one can print more of. Money that no one can control. Complete private property.
Bitcoin was often dismissed as useless magic internet money that is only useful for criminals, scams, and money laundering. But today this has changed. Bitcoin is the 9th asset in market cap worldwide, right behind silver.
So it might be time to take a second look at Bitcoin, and this time to really try to understand the Bitcoin thesis and how it is connected with money, deficits, inflation, and the unique aspects of the economic situation we are going through.
