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1. Beginner Course

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  1. 1. What are these cryptocurrencies?
  2. 2. Bitcoin - the story of a technological revolution
  3. 3. Satoshi Nakamoto, who is the creator of Bitcoin?
  4. 4. Vitaly Buterin – the creator of Ethereum
  5. 5. What is blockchain, and how does it work?
  6. 6. What is an NFT token?
  7. 7. What is money?
  8. 8. Cryptocurrencies vs fiat money, which will win?
  9. 9. What is DeFi (Decentralized Finance)?
  10. 10. DeFi: opportunities, advantages and disadvantages of decentralized finance
  11. 11. What is an altcoin?
  12. 12. Stablecoins - What are they?
  13. 13. Cryptocurrency wallet - what is it?
  14. 14. Why do we talk about bull and bear markets?
  15. 15. Security in the crypto market - what rules are worth following?
  16. 16. What is the seed phrase in cryptocurrencies?
  17. 17. Dogecoin and memecoin - what are they?
  18. 18. What is a Ponzi scheme?
  19. 19. What is a Soft and Hard Fork?
  20. 20. Blockchain - examples of use
  21. 21. Is blockchain safe?
  22. 22. What are the types of blockchain networks?
  23. 23. What is blockchain network congestion, and how does it work?
  24. 24. Cryptocurrency wallets: Hot Wallet vs. Cold Wallet - key differences!
  25. 25. Cryptocurrency wallet diversification
  26. 26. Halving Bitcoin - what is it, and how does it affect the price?
  27. 27. Blockchain versus databases: key differences!
  28. 28. How do you transfer cryptocurrencies?
  29. 29. The most important cryptocurrency acronyms/slang you need to know!
  30. 30. The memecoin story: madness or great investment?
  31. 31. What is Ethereum? 
  32. 32. Everything you need to know about gas fees in Ethereum!
  33. 33. Gavin Wood: Blockchain Visionary and Co-Founder of Ethereum
  34. 34. Decentralized Apps – what are they?
  35. 35. What is Proof of Work (PoW) and what is Proof of Stake (PoS)?
  36. 36. What is the Proof of Authority (PoA) consensus mechanism?
  37. 37. What is Proof of Burn (PoB)?
  38. 38. What is a whitepaper? What is its purpose, and how do you write it?
  39. 39. Smart Contracts - what are they?
  40. 40. Know your customer (KYC) and Anti-money laundering (AML) what are they in the cryptocurrency industry?
  41. 41. Blockchain and NFT games - how to make money on them?
  42. 42. Liquidity in the cryptocurrency market
  43. 43. Inflation and its effects on financial markets
  44. 44. What is stagflation and why does it have a negative impact on the market?
  45. 45. What are utility tokens and what use do they have in the cryptocurrency sector?
  46. 46. What is cryptocurrency mining?
  47. 47. What is the mining difficulty?
  48. 48. What is compound interest, and how does it work?
  49. 49. What Are Privacy Coins and Are They Legal?
  50. 50. What is CBDC - central bank digital money?
  51. 51. What is Cryptocurrency Airdrop all about?
  52. 52. Key differences between ICO, IEO and STO
  53. 53. What are decentralized DAO organizations, and how do they work? What are DAO tokens?
  54. 54. What is EURT? How does it work?
  55. 55. What is the difference between Circulating Supply and Total Supply?
  56. 56. Snapshot from the world of cryptocurrencies - what is it?
  57. 57. What is the Fear and Greed index for cryptocurrencies?
  58. 58. APR versus APY: what is the difference?
  59. 59. What is an Initial Farming Offer (IFO)?
  60. 60. What is Regenerative Finance (ReFi)?
  61. 61. Who Is Craig Wright, the Alleged Creator of Bitcoin?
  62. 62. What Is Bitcoin (BTC.D) Dominance?
  63. 63. Michael Saylor, Self-Proclaimed Bitcoin Maximalist
  64. 64. Bitcoin Pizza Day
  65. 65. AI blockchain - a new look into the future?
  66. 66. What is WorldCoin? Everything you need to know about this cryptocurrency!
  67. 67. Azuki NFT collection guide: everything you need to know about it!
  68. 68. The 10 most expensive non-fungible tokens (NFTs) ever!
  69. 69. The Bored Ape Yacht Club (BAYC) - the story of the popular NFT collection!
  70. 70. CyberPunks - the story of the most popular NFT collection in the crypto industry!
  71. 71. NFT Art: The digital art revolution - history and examples!
  72. 72. Who is Changpeng Zhao, CEO of Binance?
  73. 73. Who is Brian Armstrong - CEO of Coinbase?
  74. 74. Who is Galy Gensler and the SEC? How does the Securities and Exchange Commission (SEC) affect the cryptocurrency market?
  75. 75. Web3's most popular social media platforms! Will they replace the platforms we know?
  76. 76. What is IoT - the Internet of Things?
  77. 77. On-chain analysis in the cryptocurrency world: Everything you need to know about It
  78. 78. Can you pass on your cryptocurrencies after death? How do you pass on a cryptocurrency inheritance?
  79. 79. What is the Howey test? What application does it have in cryptocurrencies?
  80. 80. The use of blockchain technology in the world of sport
Lesson 8 of 80
In Progress

8. Cryptocurrencies vs fiat money, which will win?

Since ancient times, money has been the universal means of exchange for goods and commodities. It has taken different forms – metals, gold, leather, or even grain. Throughout history, we can see its evolution – from coins and banknotes to electronic records in the banking system. The creation of money was and is a task belonging to the government. At the end of the 20th century, when the financial crisis was growing, movements that have set the goal of creating a monetary unit that is independent of third parties have emerged. It was the beginning of cryptocurrencies and decentralized exchanges. Today, some of them have been legally regulated and serve as a means of exchange for goods and services. 

The birth of Bitcoin and the greatest evolution of money

The birth of Bitcoin on January 3, 2009, represents the greatest evolution of money until now. We have always viewed money as something physical, tangible, but Bitcoin changed all of that. While we have had digital money for a long time (in our bank accounts or PayPal), the truth is that these systems were yet another representation of the same model, fiat money, to which we were already accustomed.

Bitcoin, on the other hand, is something entirely new. A system whose value is given by the work put into generating and running the system, in addition to the trust and supply and demand dynamics that its users impose. That is, here there are no central banks, no government to control it. Bitcoin is autonomous in every way.

Central Bank Digital Currencies (CBDC)

Right now we are facing a new monetary revolution, and we have the privilege of living through it. For several millennia, money was something tangible, and now we have transformed it into a digital entity where there are no boundaries or restrictions on what we can do with it. Anyone might think it’s a matter of passing trends, but now even central banks themselves have realized their mistake of rejecting technology and remaining anchored to dull systems. Central Bank Digital Currencies (CBDC) are a way to digitize money backed by technology like blockchain. Bitcoin, on the other hand, is absolute freedom, the materialized spirit of those who always seek to respect your privacy and earn honest, transparent and democratic money.

Are cryptocurrencies and fiat money the same thing?

Cryptocurrencies are money insofar as they allow exchange between two parties and act as a store of value. However, they also offer features that the traditional monetary system is currently unable to offer: cryptocurrencies can be spent and received by anyone, anywhere, anytime, around the world and without the need for a bank or government. This is the most revolutionary part of cryptocurrencies. 

Furthermore, fiat money essentially equals debt. When a central bank issues bills, it simultaneously issues you, the consumer, a percentage of your government’s debt. How is that, you might logically ask? Consider how the EU and the United States, for example, create money.

Most of the money the government creates comes from borrowing. Banks create money when people borrow money. Take the U.S. dollar, for example: if no loans were made, there probably wouldn’t be any dollars in circulation either.

While fiat money seems to derive most of its value from debt, this is not the case with Bitcoin. Bitcoin has inherent value beyond the trust of its community. Bitcoin is not based on a system of debt; its value comes down to how efficient it is as a medium of exchange.


It is only a matter of time before currencies will become widely accepted and even more trustworthy. Regarding functionality, they already match the classic view of the monetary system. The time has come for them to be regulated by law. The evolution of digital assets as a full-fledged means of payment is inevitable. The uncertainty that has been present in traditional markets for some time now is tipping the balance towards cryptocurrencies. The system behind Bitcoin is completely transparent and based on the mathematics and actual consensus of the everyday user. With all this in mind, which option is better for our future? Bitcoin or fiat?

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