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WEEK 1 Money basics:
1. What is Money?
What is money? ✅ A medium of exchange
Coins were better than commodity money because: ✅ They were easy to carry and count
Why have people started exploring cryptocurrencies and new forms of money? ✅ Modern money isn't backed by anything
2. Backed Money vs. Fiat Money
Paper money before the 1900s had stable purchasing power because ✅ It was backed by gold
Modern fiat money has value because ✅ The law makes it a legal tender
What is the average lifespan of fiat currency? ✅ 30 years
3. Money Printing and Inflation
Money printing leads to: ✅ Money losing value
Savings don't work as well as you'd like to because: ✅ Inflation makes money lose value
How much value has the US dollar lost in 50 years? ✅ 85%
4. Electronic Money and Payment Systems
What percentage of the world's money exists as physical cash? ✅ 8%
Do banks hold clients money in cash? ✅ No. They only store a reserve - 10-20% of deposits in cash.
Why do banks fail? ✅ They don't have enough real cash
Money in which form can you truly own? ✅ Cash
5. Limitations of Traditional Banking
How much do banks make by charging fees? ✅ Over $34 billion a year.
What is the "bounce fee"? ✅ It's the fee for failed payment.
Why 1.4 billion people are unbanked? ✅ They can't afford banks' service fees.
Where do most unbanked people live? ✅ African countries
6. Trading & Why Most Traders Lose Money
How many traders actually make a profit each year? ✅ 1.6%
Why do most new traders fail? ✅ They don't have knowledge and rely on luck
Do most traders lose money in all markets? ✅ Yes. Most traders lose money no matter which market they trade.
What is the percentage of novices who will quit trading in the first year? ✅ 80%
7. Online Betting and Forex
What is the vig? ✅ The percentage fee.
How much do casinos earn in a year? ✅ Over $60 billion
Is it possible to make a living by betting and gambling? ✅ It's impossible to win consistently because of the vig.
What is the most unfair gambling activity? ✅ Binary options
The vig of 7% means that a player betting $100 can have a payout of ✅ 93
WEEK 2 Crypto basics:
1. What is Decentralization?
What is a centralized system? ✅ A system where one central actor can control the whole system.
What is a decentralized system? ✅ A robust and highly reliable system without a central entity.
How were participants' bank accounts affected during the 2022 protests in Canada? ✅ Their accounts were frozen by government order.
2. How Blockchain Works
What is blockchain? ✅ A special kind of database.
Do Bitcoin transactions ever get deleted? ✅ No, Bitcoin blockchain stores all transactions and never deletes them.
How are blockchains protected from missing and corrupted data? ✅ Each node stores its own copy of the blockchain.
3. Cryptography basics
Why are cryptocurrencies called so? ✅ They use cryptography to maintain security.
What is used to sign a cryptocurrency transaction? ✅ A private key.
Why do blockchain networks store all old transactions? ✅ To verify users' balance.
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