Bitcoin School Kenya Diploma English Version 2024
  • PREFACE
  • Table of Content
  • Chapter 1: Why Do We Need Money?
    • 1.0 Introduction
    • 1.1 Why We Need Money
  • Chapter 2: What is Money?
    • 2.0 Introduction
    • 2.1 Definition of Money
    • 2.2 Why is Money Important?
    • 2.3 Functions of Money
    • 2.4 Properties of Money
    • 2.5 Types of Money
    • 2.6 The Psychology of Money
  • Chapter 3: The History of Money
    • 3.0 Introduction
    • 3.1 Evolution from Barter to Modern Currency
    • 3.2 Digital Currency Revolution
  • Chapter 4: What is Fiat Money and Who Controls it?
    • 4.0 Introduction
    • 4.1 Brief History of Fiat Money
    • 4.2 Advantages of Fiat Money
    • 4.3 Disadvantages of Fiat Money
    • 4.4 Commodity vs Fiat money
    • 4.5 Fractional Reserve Banking: A System Fueled by Debt
    • 4.6 Mechanism of Fractional Reserve Banking
    • 4.7 Impact on Money Supply and Debt
    • 4.8 Role of Central Banks
    • 4.9 Who Controls the Fiat System and Their Benefits
  • Chapter 5: How Fiat Problems Lead to Bitcoin
    • 5.0 Introduction
    • 5.1 Inflation
    • 5.2 Causes of Inflation
    • 5.3 Effects of inflation on purchasing power
    • 5.4 Global Debt Burden and Social Inequality
    • 5.5 Consequences of global debt
    • 5.6 Consequences of social inequality
    • 5.7 The Cypherpunks and Decentralization
    • 5.8 Key Cypherpunks
    • 5.9 Motivation for Decentralization
    • 5.10 An Orwellian Future
    • 5.11 Key Innovations by Cypherpunks
    • 5.12 Centralized vs Decentralized Systems
    • 5.13 Advantages of CBDCs
    • 5.14 Disadvantages of CBDCs
  • Chapter 6: An Introduction to Bitcoin
    • 6.0 Introduction
    • 6.1 How Does Bitcoin Work? A simplified overview
    • 6.2 Why Bitcoin Matters
    • 6.3 The Players of the Game in the Bitcoin Ecosystem
    • 6.4 Key Characteristics of Bitcoin
    • 6.5 Advantages of Bitcoin
    • 6.6 Bitcoin as Sound Money
    • 6.7 Bitcoin Self Custody
  • Chapter 7: How to Use Bitcoin
    • 7.0 Introduction
    • 7.1 Acquiring and Exchanging Bitcoin
    • 7.2 Peer-to-Peer In Person
    • 7.3 Peer-to-Peer Online
    • 7.4 Centralized Exchanges
    • 7.5 Introduction to Bitcoin Wallets
    • 7.6 Self-Custodial vs Custodial Wallets
    • 7.7 Different Types of Bitcoin Wallets
    • 7.8 Open Source vs. Closed Source
    • 7.9 Key Considerations When Choosing a Bitcoin Wallet
  • 7.10 Setting up a Mobile Bitcoin Wallet
  • 7.11 Receiving and Sending Transactions
  • 7.12 How a Bitcoin Transaction Works
  • 7.13 Saving in Bitcoin
  • 7.14 DYOR Don’t Trust, Verify
  • Chapter 8: Lightning Network and Advanced Usage
    • 8.0 Introduction
  • 8.1 The Lightning Network
  • 8.2 Different Types of Lightning Wallets
  • 8.3 Setting Up a Bitcoin Lightning Wallet
  • Chapter 9: An Introduction to the Technical Side of Bitcoin
    • 9.0 Introduction
  • 9.1 Characteristics of the Bitcoin Ledger
  • 9.2 Public and Private Keys: Security through Cryptography
  • 9.3 Sending a Bitcoin Transaction
  • 9.4 Key Concepts in Bitcoin's Technology
  • 9.5 Hashing Explanation
  • 9.6 The UTXO Model
  • 9.7 Acloser look at Bitcoin Nodes and Miners
  • Chapter 10: Why Bitcoin?
    • 10.1 Introduction
  • 10.2 Circular Economies and Bitcoin as a Medium of Exchange
  • 10.3 Bitcoin Circular Economy
  • THE END
    • Recommended Learning Resources on Bitcoin
  • Group 1
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  1. Chapter 5: How Fiat Problems Lead to Bitcoin

5.1 Inflation

Inflation refers to the increase in the general price level of goods and services over time. It reduces the purchasing power of money, meaning that each unit of currency buys fewer goods and services than before.

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Last updated 8 months ago