You are a banker. You have a set amount of coins to distribute to the population. Instead of giving it out all at once, your boss came up with this formula.

Every $\sim 4$ years, you increase the value of $i$. For a given value of $i$, this formula tells you how many coins to hand out to your customers. Because $i$ is in the denominator (the lower part of the fraction), the amount you hand out every 4 years decreases.

This turns out to be quite useful, as coins magically seem to become more and more valuable (or is the other way around, they become more valuable because of this formula? We'll never know...).

After 33 epochs of 4 years, you have handed out all coins, and their sum amounts to $\sim 21$M coins. Everyone agrees on this formula, so you can't modify it unless you manage to convince a large enough number of people to use a different formula.

Voila, you have figured out the formula for hard money.

This equation calculates the bitcoin supply cap

${\sum }_{i=0}^{32}$ : add up whatever's in here, with $i$ going from 0 to 32, i.e. for epochs 0 to 32

$\lfloor \frac{50}{2^i}\rfloor$ : take 50, divide it by $2^i$, then round it down ; this is the block reward per block in epoch $i$

$210,000$ : the total number of blocks per epoch

FYI - the equation is slightly wrong because the floor function should only be used if the units are denominated in satoshis, but in this equation they're denominated in bitcoin

Imagine you have a big piggy bank, and you want to know how many coins you can put in it over time. This equation helps you figure that out for Bitcoin.

The equation is just a way to add up all the coins you put in your piggy bank over time. In which it helps you figure out the total number of coins in the piggy bank, which is the Bitcoin supply cap.

Every time you add coins, you can add them in big piles in 210,000 coins.

So, you start with 50 coins and put them in your piggy bank. Every time you add coins, you divide the number of coins by 2 each time. You keep doing this until you've done it 33 times (from 0 to 32).

I need a little clarification.
You are 5 and you're Carl Gauss or you're average 5 years old tiktok swiper?