Only by reflecting on the fundamentals of how we transact can we understand what money is and how bitcoin is another evolution of money.

Take a moment and try to imagine a world without money. Think about all the things you enjoy in your lives: watching movies, playing games, a house, a car, a meal at your favorite restaurant. It’s all possible because you can pay others for these goods and services in the form of money without needing to make these things by yourself. In the absence of money, you would have to participate in barter exchange which has a lot of complications involved in it.

We work to earn money for our whole lives; we are taught at school to get a job and start earning money; our parents tell us to save money; a person is generally considered successful or otherwise depending on the amount of money he has. We talk and hear about money a lot, but we rarely ask the most basic questions: What is money at its core? What is the history of money? Why do we need money in the first place? Schools can teach us about all the nonsense that never gets implemented in our lives, but not about money.

Money is to the economy what oxygen is to our body. If I can deteriorate the quality of oxygen you intake, you will surely suffocate to death. Well, that’s what happened with our economy for the past 100 years and more. The Federal Reserve is in charge of the money we use and they have been devaluing our money at a slow pace until the start of 2020. Since March 2020, every government around the globe has been printing money like never before and we have just started seeing its effect as everything around us is getting a lot more expensive. Therefore, the question “What is Money?” is more important to ask today than ever before.