Nobody Understands The Monetary System


“If you want to make an apple pie from scratch, you must first invent the universe.” – Carl Sagan

Among the first objections that arise for anyone who has just learned about Bitcoin is “this is too complicated to understand.” And it’s true; private keys, block times, difficulty adjustments, UTXOs, uncensorable CoinJoin transactions, hash-something — the learning curve is steep and, for most, the reasons to ascend it seem few and far between.

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The first time I was introduced to Bitcoin in practice (not in theory — techno-babbling libertarians had unsuccessfully pitched me the idea for years), the intimidatingly tech-savvy guy who did so botched the process.




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