Why Should You Care About Bitcoin? Part 1 Explained for Beginners
In Part 1 of this two-part series, we cover how the fiat system works and examine its flaws for a beginner level audience. We break this into three sections:
1. How does fiat money work?
2. What gives fiat money value?
3. What are the effects of fiat money on society?
As part of this discussion, we examine how fiat money is backed by oil, war, and inflation. We take a look into each of these areas to understand the pitfalls of fiat money.