Why Bitcoin – Part 1

It’s 2017 bull run that initiated me into the Bitcoin rabbit hole. It’s a hell of a roller coaster ride since then and still it is.
This blog series is to share my thoughts about Bitcoin, beyond Money / Pricing / Investments.

Let’s get started…

Before Bitcoin, few foundational questions…

1. Do you remember reading about ‘What Photosynthesis is’ in your School?

That’s ok, if you dont remember the details now. But I bet you remember reading about it in detail.

2. How about Organic compounds?

Yeah. Guess you remember reading it in 11th grade, Chemistry subject.

3. What about the damned Integral Calculus?

Differentiation / Integration -> Nightmare for many. Somehow you cracked through this.. But no way, you remember anything of it now. That is fine.

4. History

We read complete Indian Independence struggle from Mangal Pandey retaliation to Actual Independence. I bet you don’t remember any of the details now. However I am also sure you remember touching up on all these stories.

5. Anatomy of Cockroach?

I bet you remember doing these anatomy drawings of Cockroach in your 7th/8th grade.

6. All others

Same way you have cracked through

  • Relativity theory, Newtonian physics, Brownian motion and many more in Physics
  • Analytical Geometry, Trigonometry, Basic and Advanced Algebra in Maths
  • and all those super duper topics in all subjects. Right?

Great. Now let’s ask ourselves the fundamental question which we might have already asked, even while we were in school.

Why we studied all these concepts, spending almost full portion of our childhood across different grades and subjects?

The general answer would be something like this:

To prepare us for our future, where we might be specializing in any of these fields.

Sensible answer. You might choose to become

  • a Doctor (5% to 10% possibility),
  • an Engineer (30% to even 50% possibility),
  • a Scientist (<5% possiblity)
  • and such

So in case you chose to become any of the above path/possibility, you need not start from scratch, you are prepared for all these possibilities in the school. My sincere gratitude to our Social / Educational Institutions that care for us and designed the system this way, that got us covered for all choices that we could make.

oh wait!!!

Guess I got carried away. I am supposed to write this article on ‘Why Bitcoin?

okay okay. Let’s get back to the Topic of this post.

So Bitcoin is this new digital form of currency….

oh wait again! Can someone tell me the 2 mark definition of what ‘Currency’ is? or 16 mark answer for how ‘Currency’ works?

Of course. No one remembers what we read in school. But atleast do you remember which Grade covered the concept of Currency / money? No? No one remember?

Yes. Because the shocking answer is ‘We are not taught what Money is’.

Not just that. What are the properties of Money? What are the evolutionary stages of Money? What is Inflation / Deflation that you often hear in News? What are different economic philosophies? Who is Keynesian? What is Austrian economics?

Holy cow. We are not taught any of these in any grade?

But how come? The possibility of a kid becoming a Doctor is 5 to 10%, becoming an Engineer is 30 to 50% and the kid is prepared for all these possibilities in school (Again thanks to our Social / Educational insitutions. My sincere gratitude). BUT the possibility of the kid using money even while in school and later in his/her adult part of life is, I would say almost 100%. One can become a Doctor, Engineer, Lawyer, Judge, Entrepreneur, Tea shop wala, Swiggy delivery person, or even a Beggar. Regardless of what you become, you will be using Money and the impact of monetary policies will have a real impact on you, but you didn’t even study a 2 mark definition of what a currency is!

Now things look shady!

How I am going to tell you ‘Why Bitcoin?’, when you are not even sure of a 2 mark definition of Money. okay. Maybe I will write in detail in the next post.

Now, All I have in my mind is why the ever caring, people friendly social / educational institutions skipped this ‘Money / Economy’ Curriculum, which has a real impact on everyone in the world. While they took such immense pain and care in teaching how Cockroach reproduces, what’s the molecular weight of Polypropylene, What’s the speed of light, How Uranium radiates, What happened in the battle of Panipet and such.

Please I am going through a mental turmoil. My mind keeps asking this question again and again to me. Please post your thoughts in comments. Let me settle out my mind first and then we can see about Bitcoin!

Also can someone explain me why Henry Ford (the greatest mind of his time), said this almost a century back!

2 comments

  1. “Money – economy” – Why it is not taught in schools??
    As we know our modern education is rooted from Macaulay’s curriculum (which is to make ppl suitable for clerical jobs), though we have modified it to certain extent, but still our education doesn teach us to lead a holistic life and concentrated only on job seeking.

    When the purpose of education shifts from job seeking to holistic life, then we will add money management / economics / its impact / behavioural psychology etc ,

    But the problem is, when common ppl knows how to manage money and about economics, then governments n banks will loose their upper hand in controlling the money .. big problem for politicians and banking firms.. haha..

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