Why Do We Need Money?

My First Bitcoin | Chapter 1

1.0 Introduction

Money is one of the greatest instruments of freedom ever invented by man.

– Friedrich Hayek

We use money almost every day, but do we understand why we need it and what it is? Why do we trade our time for money? Why do some people have more of it than others? Why is money different in other countries? Why can’t we just create more of it whenever we need it?

2 | Chapter 1

1.1 Meet Satoshi

Hi! I’m Satoshi, an interactive assistant who will help you throughout the Bitcoin Diploma.

I will give you resources and helpful recommendations, so you can take a closer look at key concepts.

3 | Chapter 1

Activity: Class Discussion

Let's start the chapter by answering the five questions below:

1. Why do we need money?
2. What is money?
3. Who controls money?
4. What gives money its “value”?
5. What question do you have about money?

Consider practical uses like buying necessities such as food and desired items. Try to be specific in your examples, balancing creativity with realism.

4 | Chapter 1

1. Why do we need money?

Why do we need money?

5 | Chapter 1

2. What is money?

What is money?

6 | Chapter 1

3. Who controls money?

Who controls money?

7 | Chapter 1

4. What gives money its “value”?

What gives money its “value”?

8 | Chapter 1

5. What question do you have about money?

What question do you have about money?

9 | Chapter 1

1.2 Class Discussion

Why Do We Need Money?

Now that you have given some thought as to why money is necessary, the upcoming chapters will explore what money is, how it evolved through time, who influences it, and the newest form of it.

Keep referring to your ideas from this first day in class to draw connections between your insights and the evolution of money creation, definition, and usage over time.

10 | Chapter 1

Thank you!