In a way this is similar to what happens in social media as well as economic thought is nothing more but an echo chamber, and anyone that dares to disagree with the current agreed theories is thought to be insane, however time and time again we have seen those theories fail and yet no attempt is made to revise them, and this is because those at the top benefit from the fiat system and they do not want to change it, and if anything they would prefer that gold never makes a comeback, which is funny in a way as their irresponsible actions are what is going to bring gold eventually back.
I agree, i am just bit tired of explaining to people in my area that we have inflation so no matter how they will strive to earn and meet their needs they can't beat it because it is the result of pandemic and other things like war. Inflation and Recession are hard to explain to people, I just hope that in school in my country they will teach young adults how to spend money and how to budget it wisely and teach basic economics.
Topic: People don't understand the problem with monetary system. (Read 603 times)
I think many people don't understand about the financial system, inflation, deflation and so on, in my country a lot of people don't care about inflation, they are just busy with the work that can be done, but difficult economic conditions make it even more difficult for them, I once explained to my friend about inflation is the decrease in the value of money, so the money we hold today has decreased in value compared to a few years ago.
In a way this is similar to what happens in social media as well as economic thought is nothing more but an echo chamber, and anyone that dares to disagree with the current agreed theories is thought to be insane, however time and time again we have seen those theories fail and yet no attempt is made to revise them, and this is because those at the top benefit from the fiat system and they do not want to change it, and if anything they would prefer that gold never makes a comeback, which is funny in a way as their irresponsible actions are what is going to bring gold eventually back.
I agree, i am just bit tired of explaining to people in my area that we have inflation so no matter how they will strive to earn and meet their needs they can't beat it because it is the result of pandemic and other things like war. Inflation and Recession are hard to explain to people, I just hope that in school in my country they will teach young adults how to spend money and how to budget it wisely and teach basic economics. The information that you can find at schools related to the economy is terribly biased, many economists and those in power do not even learn about the role that gold played for thousands of years, as if fiat currencies have always been the dominant currencies and not an experiment that has been around since the seventies, it is because of this that economists do not understand bitcoin either and why they want to change it to resemble fiat currencies as that is the only system they know.
I agree with you on this. It is heavily noticeable how various economic textbooks are either just being revised or copied over the years. The ideas are all the same despite the obvious changes and innovations that took and are taking place. It is the way economists are all stuck with their ideas and are too comfortable with what they already know that hinders changes. I mean think of it this way, many individuals' knowledge about the economy is from textbooks and articles that are produced and written by these said economists hence these individuals are also just being stuck with the same ideas and beliefs. 
You have brought up important points regarding the challenges that people with limited income face when considering investments in assets like Bitcoin or Gold. You are absolutely right in your observation, however there are ways to improve income through education and skill development. We all have witnessed many examples in our families and friends circles who successfully transformed their lives from unfavourable circumstances by actively pursuing education and improving their skill sets.
The present monetary system despite its weaknesses, doesn't pose obstacles for those who are resolute in their goal to make their lives better.
The present monetary system despite its weaknesses, doesn't pose obstacles for those who are resolute in their goal to make their lives better.
Yes achievement is easy but if a person shows interest for it because interest enhances the hardwork so he utilizes his energy in the development of skills and get the recent education about it.
There are lots of individuals who face regular difficulties but they did not loss hope and now these are a successful personality these days and lives a very satisfied life with greater income.
Everything become easy but one should remember that nothing is impossible if we try for it and one failure does not decide our future therefore ignore about past and just learn from it to not make these mistakes again.
Monetary problems, of course not everyone knows, those who have received economics lessons at school or college will understand monetary, the monetary crisis that has occurred in my country and even occurred throughout the world is a complicated problem that is not easy to solve, we as people who actively working, of course, you must always be vigilant with monetary matters, and of course, continue to look for sources of income so you can survive.
The information that you can find at schools related to the economy is terribly biased, many economists and those in power do not even learn about the role that gold played for thousands of years, as if fiat currencies have always been the dominant currencies and not an experiment that has been around since the seventies, it is because of this that economists do not understand bitcoin either and why they want to change it to resemble fiat currencies as that is the only system they know.Monetary problems, of course not everyone knows, those who have received economics lessons at school or college will understand monetary, the monetary crisis that has occurred in my country and even occurred throughout the world is a complicated problem that is not easy to solve, we as people who actively working, of course, you must always be vigilant with monetary matters, and of course, continue to look for sources of income so you can survive.
Even those who work in the economic field do not all understand the monetary system. If they can understand it well, of course they can make the right policies in making decisions in dealing with the monetary system. A stable and healthy monetary system can support sustainable economic growth, while an inappropriate monetary policy can lead to economic instability. I agree with you that in dealing with the monetary system it is better for us to seek additional income so that we can meet our own needs. Monetary problems, of course not everyone knows, those who have received economics lessons at school or college will understand monetary, the monetary crisis that has occurred in my country and even occurred throughout the world is a complicated problem that is not easy to solve, we as people who actively working, of course, you must always be vigilant with monetary matters, and of course, continue to look for sources of income so you can survive.
The information that you can find at schools related to the economy is terribly biased, many economists and those in power do not even learn about the role that gold played for thousands of years, as if fiat currencies have always been the dominant currencies and not an experiment that has been around since the seventies, it is because of this that economists do not understand bitcoin either and why they want to change it to resemble fiat currencies as that is the only system they know. It seems that it still takes quite a lot of time to make more people understand about Bitcoin and how this amazing Decentralized system can help them understand more about how this system can help them a little. People nowadays tend to prefer things that are simple and practical. They don't like trying to understand things they really need to understand like the fiat system they use every day. But I'm pretty sure that for the next generation, the knowledge about the world of finance will be more evenly distributed. Because now the government has actually started to move in providing good financial literacy to its people. Even the government in my country is also quite enthusiastic about sharing insights regarding the progress of digitalization including crypto and Bitcoin in it.
It got a lot more attention and that is why they all started to take a look at it. It is not really a big shocker considering that we are talking about something that would be quite understandable, it is not really unlikely that something like this would ever happen. We know that it will be a normal situation and we need to realize that life is not that simple like we would just keep it to ourselves, it is going to keep happening all the time.I know that people are not entirely sure about what happens, but basically when something gets too popular, governments start to take a look at it from bottom level and grow to highest level possible if it gets too big. That has happened, since 2017 governments checked it out until now.
Monetary problems, of course not everyone knows, those who have received economics lessons at school or college will understand monetary, the monetary crisis that has occurred in my country and even occurred throughout the world is a complicated problem that is not easy to solve, we as people who actively working, of course, you must always be vigilant with monetary matters, and of course, continue to look for sources of income so you can survive.
People respond or react on something depends on their ability to understand what the things emphasising on is all about, not everyone will like bitcoin and while they not like bitcoin is because someone have not breakdown the important of bitcoin and the reason while bitcoin is been created, from my perspective towards bitcoin its just a currency of its own in which nobody have control over it, so therefore I believe that bitcoin is all about independent currency and also a decentralized currency, if someone have not find the important in the momentary aspect of it, that doesn't mean that other people have not acknowledged the importance before enrolling the investment into cryptocurrency especially bitcoin. When someone should asked me of problems bitcoin can solve, at least bitcoin helps for international transactions and it process very easy than fiat transactions or transfer across other nations or countries. So if I should be listing the positive impact of bitcoin it will more than comprehensive.
Most people do not understand that economic problems are very complicated so they do not have good preparation, if we are married then it is time to always be aware of economic phenomena in the future, inflation will often occur so we have to do everything to be able to survive monetary problems...
Inflation affect every body that is making use of fiat and not just married people. So both single and married have to plan on how to take care of it. One possible way to take care of it is by investing. Some people think that saving is the way to sort themselves from inflation but that is not real because you still would use the savings one day and of course the price of goods won't be the same from what it was before the savings. So it is better to diversify by investing what you have now for the purpose of future, it seems the future keeps growing in inflation.
From the article you mention, I highlight a concern that I have always mentioned here in the forum and in my life "the lack of financial education and understanding of monetary systems among the general population" This leads to people not being aware of the problems that Bitcoin and other cryptocurrencies seek to solve, such as inflation, centralized financial control, and lack of privacy in transactions… This is why many people lack a deep understanding of the problems inherent in fiat money and how this system can affect privacy and the financial freedom of individuals.
In recent months I have given myself the task of teaching my relatives a little more about Bitcoin, so that they adopt Bitcoin with a solid understanding of the problems of the current monetary system and thus encourage them to seek more transparent and decentralized alternatives, in order to of financial freedom and protection of your privacy.
In recent months I have given myself the task of teaching my relatives a little more about Bitcoin, so that they adopt Bitcoin with a solid understanding of the problems of the current monetary system and thus encourage them to seek more transparent and decentralized alternatives, in order to of financial freedom and protection of your privacy.
Indeed, many people find dissatisfaction and distrust in the current financial system with its problems of corruption and reliability.
However, understanding how currency works and how Bitcoin can change the way we interact with it really takes time and effort. There are many complex aspects of money and finance that we need to understand in order to make informed decisions.
But access to and understanding of Bitcoin is still a work in progress. Everyone has their own approach and understanding of it, and this can take time to understand and accept.
So true. It seems that it still takes quite a lot of time to make more people understand about Bitcoin and how this amazing Decentralized system can help them understand more about how this system can help them a little. People nowadays tend to prefer things that are simple and practical. They don't like trying to understand things they really need to understand like the fiat system they use every day. But I'm pretty sure that for the next generation, the knowledge about the world of finance will be more evenly distributed. Because now the government has actually started to move in providing good financial literacy to its people. Even the government in my country is also quite enthusiastic about sharing insights regarding the progress of digitalization including crypto and Bitcoin in it. However, understanding how currency works and how Bitcoin can change the way we interact with it really takes time and effort. There are many complex aspects of money and finance that we need to understand in order to make informed decisions.
But access to and understanding of Bitcoin is still a work in progress. Everyone has their own approach and understanding of it, and this can take time to understand and accept.
Most people do not understand that economic problems are very complicated so they do not have good preparation, if we are married then it is time to always be aware of economic phenomena in the future, inflation will often occur so we have to do everything to be able to survive monetary problems.
Before society can understand the problems with the monetary system, politicians need to understand it. Unfortunately almost all of the politicians who rule us do not know what the problems of the fiat money system are. Politicians need to know the problems of the system but this is something they don't want. It opposes enlightenment. Because if the politicians are willing to explain these issues to the public, the general public will have information and this will be against the politicians. The sad thing is that people can't think of leaving the traditional monetary system because they spend most of their lives with enough money to last for the month and because their lives are over while they spend time on the mundane things they want to have. This is exactly what i say in places where the people are left uneducated.
No one tries to go beyond the unconventional and lives in economic difficulties. We should talk about Bitcoin and crypto money systems everywhere. If we put aside the pleasant conversations we have in a narrow environment, we can teach them to struggle with the problems of the monetary system, especially if we explain the effect and philosophy of Bitcoin to people in rural areas and low educated communities.
Leaders' obvious disregard of our monetary system's problems is reprehensible. They should lead and educate, but they're leading the public down a dangerous pathNo one tries to go beyond the unconventional and lives in economic difficulties. We should talk about Bitcoin and crypto money systems everywhere. If we put aside the pleasant conversations we have in a narrow environment, we can teach them to struggle with the problems of the monetary system, especially if we explain the effect and philosophy of Bitcoin to people in rural areas and low educated communities.
Let's discuss solutions. Enter Bitcoin. The Bitcoin revolution is a paradigm shift from centralized to decentralized, not only digital transactions. It's the hope in a world of broken economic policies and manipulated currency prices
People everywhere, especially in financial education-poor areas, must comprehend Bitcoin. Decentralized finance can help us avoid the problems of the traditional monetary system
Before society can understand the problems with the monetary system, politicians need to understand it. Unfortunately almost all of the politicians who rule us do not know what the problems of the fiat money system are. Politicians need to know the problems of the system but this is something they don't want. It opposes enlightenment. Because if the politicians are willing to explain these issues to the public, the general public will have information and this will be against the politicians. The sad thing is that people can't think of leaving the traditional monetary system because they spend most of their lives with enough money to last for the month and because their lives are over while they spend time on the mundane things they want to have. This is exactly what i say in places where the people are left uneducated.
No one tries to go beyond the unconventional and lives in economic difficulties. We should talk about Bitcoin and crypto money systems everywhere. If we put aside the pleasant conversations we have in a narrow environment, we can teach them to struggle with the problems of the monetary system, especially if we explain the effect and philosophy of Bitcoin to people in rural areas and low educated communities.
No one tries to go beyond the unconventional and lives in economic difficulties. We should talk about Bitcoin and crypto money systems everywhere. If we put aside the pleasant conversations we have in a narrow environment, we can teach them to struggle with the problems of the monetary system, especially if we explain the effect and philosophy of Bitcoin to people in rural areas and low educated communities.
Where did you quote this OP? I don't think there's a link or something. There's no source. Is it a book or something?
Thank you for asking @crwth, I do appreciate your concern and observation.If you check through the post you can see I made it clear that the quoted statements ain't originally mine, but from an article I read. If you check through my previous posts you will agree I don't hesitate attaching source links to my post because as an academia I am informed with the implications not just only in the forum.
But just that the article I read I just couldn't get a link to it, that's the more reason I quoted the statements pointing at the original author giving credit for easy understanding by any reader that am not the original author, and am sure you understand
Having interest in bitcoin is far beyond it's volatility, people have already wanted to see a change in the financial system and ever since they heard about the introduction of cryptocurrency, they discovered that bitcoin got all the possible solutions they would have wanted with a financial system, government politics and policies is what people kicked against and need to have back their freedom in handling their financial economy lives.
In fact, I see the exact opposite of what you are saying. Most of those who use Bitcoin are for investment purposes in order to make profits, whether from trading or long-term storage, which is consistent with the financial mentality imposed by the global financial system that is controlled by major financial institutions with the help of governments.The problem is that although Bitcoin represents a solution for people to enjoy financial freedom, it is still far from achieving this entirely because of its association with the global market, which is centralized and lacks privacy.
There is still a long way to go for people to realize the reality of the crises of the global system and to start using bitcoin as a solution, not just as an investment tool.
...my attention was directed to the ignorance of people in the adoption of bitcoin , and as usual they all revolved within the circle of a lack of knowledge and understanding of fiat money problem.
An average citizen wants to get a job and be paid hourly, weekly or monthly. An average citizen wants to start a business and earn daily. What they want is to earn and save in banks, use it to return market to buy more goods, buy properties with it, pay hospital bills and other bills and most importantly live a comfortable life. Not everyone and not many people wants to know the economics of fiat, whether or not it is losing value. They don't even care if there is a problem with the fiat system.
...we can draw a conclusion that given a critical attention we will agree that nearly all the people that have adopted bitcoin, using it as alternative of fiat money are people who have an understanding of monetary system wholly and how bedeviling it (fiat) has been to citizens financial freedom and privacy due to intricacies of government regulatory policies surrounding it.
Nearly all the people that adopted bitcoin did so because of its volatility. For the price to be able to rise and give profits, that's all. Except the few early adopters, almost everyone one that adopted bitcoin did so for the ROI. It is when some invested that they discovered that there are other things bitcoin offer.
Jump to: