Confusion With Economics and Financial System
Good evening from Exciting World Cryptos, where we talk about anything and everything of great interest.
Today I like to bring forward a concern that is with a large majority of the population.
That is with the the lack of understanding and personal education people have of economics and financial systems. This does cover with things like the money system, how to hold a personal budget, personal finance and how the economy works.
What is money? What is it to you?
Many of us go through phases in our understanding of money. Some of us grow up in churches and schools where money is demonized. Others grow up in shops and entrepreneurial families, where money skills are taught and become second nature.
Most of us learn about money from our parents and grandparents - most of whom grew up in times of poverty and scarcity. To most of them, and even today, to most of the world, money is a very scarce resource - something you preserve and don't spend or use unless absolutely necessary.
Printing Money Not Concern To Majority
The concept of printing money. Well it does seem many people do not understand this. Right now many governments around the world are running the economy on this method with the current situation happening right now. There is less money in circulation therefore governments are forced to just create money. This in turn makes the value of the money to be less. Which in turn creates inflation. Higher prices come for all your goods and services. The problem is there is a constant demand for things that are deemed essential. Of course things like education, transportation, healthcare are very important things to be covered. However, it becomes the catch 22. Yes we need to keep things like that in service. There are consequences to how you fund a specific service. If the only method to keep a service running is by having the government print money for it. You just keep creating problems for everyone on the economic level. Costs of everything just will keep going up as the value of the dollar goes down.
Confusion of Cryptocurrency To Traditional Finance
Now for many of you who are into cryptocurrency. You may know the differences between that financial system and the traditional financial one as well. However it seems still a large majority of the population just see things like Bitcoin as a stock. Some people will say, Bitcoin is nice but they could never understand the stock market and move one. That is for sure a concern. Meaning it makes it difficult for the concept of mass adoption of cryptocurrency. When people just see a cryptocurrency as just another stock. Then it shows the main message is not going through. People just don’t make the time to educate themselves properly on some the aspects of economy and the financial systems.
Bitcoin Not a Quick Rich Scheme
Some people think about Bitcoin as a quick rich scheme. The moment you say the word Bitcoin. They think or say something about someone else getting rich with it. Of course if you read the white paper on Bitcoin. It was supposed to be a money system that could a more fair system. Now yes of course Bitcoin is a store of value. It is 2 things actually of being a money system and a store of value. However, again people still see Bitcoin in the wrong light and that can steer people away from positive opportunity.
Reason Why?
Now of course. Everyone has a different lifestyle. It can be quite troublesome to find the time to do something else. As in to learn about a new things. If you were to take a population of 100 000 people. You would get a 100 000 different minds and 100 000 different ideas to one situation. That is the reality of it all. Some people just see certain things completely different to something else.
There are people out there who trust everything that was found and researched in science. Where you also get people who are flat earthers and believe in every conspiracy theory. Some people think that all problems are created by the government and everyone else. Just the case of different mindsets out there. This has been the case for over 1000 years in all of society. Therefore conflicts have always been happenings because of this.
Conclusion
Hopefully in the future. Some people can learn to be more open minded. Learn to follow the advice of others and perhaps educate themselves better. In turn maybe one day people will learn to understand their own economics and financial system better.
What are your thoughts on this situation?
Do you think that a large majority of the population do not understand the money system well?
Do you think people do not understand budgets?
Do you think many people still get wrong impression about cryptocurrency?
Let us know in the space below. I really would like to hear back from you on this.
Thank you for your time and I look to hear from you soon.
Bye for now.