Bitcoin, a Financial Education

I had never previously had any interest in this subject of economics. The closest I had ever come to economics was in the mid 2000’s when I while studying I had had a temporary job working in Merril Lynch in London…in the photocopy room.

As copies came off of the photocopier I had occasionally flicked through them to see how many long numbers with lots of zeros were in these reports.

Had I had any idea what was going on or was about to happen I might well have taken more note. Who could have know that the financial system was about to blow up. Well some apparently did.

I first remember hearing about Bitcoin in 2012, at the time I thought it was just another payment technology and dismissed it. It was until a few months later in early 2013 that I actually started to read information about it and discovered that it claimed to be something very different.

It was as many have described like going down the rabbit hole. Economics, a subject that seemed obscure and uninteresting turned out to be a surreal and fantastical world.

Bitcoin and the philosophies of its founder Satoshi Nakamoto opened up a whole new world of economics that I had imagined was dry, crusty and dull. Instead, this world was a world in which many things that are apparently mathematically impossible become not only possible but desirable according to the planners at the central banks.

Yes, we can print our way to prosperity. Yes, you can have negative interest rates.

Astonishing!

Economics it seems is not subject to the rather prosaic laws of mathematics in the way in which the rest of the universe is. At least, this is what the chair of the FED would have us believe.

Like Wonderland, the modern world of economics is a world of halls in mirrors in which nothing is truly what it seems. But how did they convince us this is all true. It is as if we have all been hypnotized into believing in this absurd, fictitious world.

So what happens next. Well, I believe that Bitcoin is going to show us what sound money looks like, feels like and how it should behave. It will expose the fraudulent nature of the global financial system and achieve the seemingly impossible of dethroning the dollar in just a few decades from its inception.

Does that mean it is perfect. Well no, in my opinion it is still tainted in the same way that all money is. It is a tool and an imperfect one at that. There are issues of some degree of centralization and the potential for tracking. Also there are large hodlers of Bitcoin who posses vast quantities so there is a concentration of wealth. It is not so much a question of Bitcoin being perfect as it being more fit for purpose than the current fiat system which has become utterly corrupted to the point where it is obvious to everyone in the world.

If you would like to find out how deep the rabbit hole goes a good place to start is with a book like Thank God for Bitcoin.