From 1f14b50ec783c77693839d8e08d77dc48a61e327 Mon Sep 17 00:00:00 2001 From: Lee Salminen Date: Wed, 4 Oct 2023 15:20:56 -0600 Subject: [PATCH 01/13] make the format match the others --- chapter-201-the-origins-of-money/README.md | 4 +--- 1 file changed, 1 insertion(+), 3 deletions(-) diff --git a/chapter-201-the-origins-of-money/README.md b/chapter-201-the-origins-of-money/README.md index 8e76c2a..40f78e1 100644 --- a/chapter-201-the-origins-of-money/README.md +++ b/chapter-201-the-origins-of-money/README.md @@ -1,3 +1 @@ -# Chapter 201 - The Origins of Money - -## The Origins of Money +# Chapter 201 - The Origins of Money \ No newline at end of file From 857c469a13f9566dd0f716f1663879c53c2114b0 Mon Sep 17 00:00:00 2001 From: Lee Salminen Date: Wed, 4 Oct 2023 15:21:14 -0600 Subject: [PATCH 02/13] add 2 processing scripts - bin/update-json.sh this script will take the input and output in json format that matches the requirements for the mobile app - bin/translate-combination.sh process the text through google translate --- bin/translate-combination.php | 86 +++++++++++++++++++++++++++++++++++ bin/update-json.sh | 32 +++++++++++++ 2 files changed, 118 insertions(+) create mode 100755 bin/translate-combination.php create mode 100755 bin/update-json.sh diff --git a/bin/translate-combination.php b/bin/translate-combination.php new file mode 100755 index 0000000..4e78ae5 --- /dev/null +++ b/bin/translate-combination.php @@ -0,0 +1,86 @@ +data->translations[0]->translatedText; +} + +$dirs = array_filter(glob('*'), 'is_dir'); + +foreach($dirs as $dir) { + if(strpos($dir, 'chapter-') === 0) { + $chapter_number = explode('-', $dir)[1]; + + print './' . $dir . '/' . $chapter_number . "-combined.json\n"; + + $source_file = file_get_contents('./' . $dir . '/' . $chapter_number . '-combined.json'); + + $source_data = json_decode($source_file, true); + + if(empty($source_data)) + { + echo "source_data not found"; + die; + } + + array_walk_recursive($source_data, 'processArray'); + + file_put_contents('./' . $dir . '/' . $chapter_number . '-' . DEST_LANG . '-combined.json', json_encode($source_data, JSON_PRETTY_PRINT)); + } +} \ No newline at end of file diff --git a/bin/update-json.sh b/bin/update-json.sh new file mode 100755 index 0000000..4fea54f --- /dev/null +++ b/bin/update-json.sh @@ -0,0 +1,32 @@ +#!/bin/bash + +set -e + +find . -type f -path '*chapter*' -name '*.yml' | while read path; do + + dir=$(dirname "$path") + file=$(basename "$path" .yml) + new_path="$dir/$file.json" + + echo "Templating $path to $new_path" + echo "$(cat $path | yq -o json | jq '{answers: [.answers[].answer], feedback: [.answers[].feedback], id: .screen, question: .question, text: .text, title: .title, type: "Text"}')" > $new_path + +done + +find . -type d -path '*chapter*' | sort | while read dirname; do + + dir=$(dirname "$dirname") + chapter=$(echo $dirname | cut -d'-' -f 2) + + new_file="$dirname/$chapter-combined.json" + + echo "Combining chapter $chapter to $new_file" + + chapterfiles=$(find $dirname -type f -name '*.json' | sort) + chaptermeta=$(find $dirname -type f -name 'README.md') + chaptertitle=$(head -n 1 $chaptermeta | sed 's/#//g' | sed 's/Chapter [0-9][0-9][0-9] - //' | xargs) + chapterid=$(echo $chaptertitle | sed 's/ //g') + + jq --arg chaptertitle "$chaptertitle" --arg chapterid "$chapterid" -s '{content: map(.), meta: {id: $chapterid, title: $chaptertitle }}' $chapterfiles > $new_file + +done From 0ae6356cef1c67268c2276bce3e4fcefa242195b Mon Sep 17 00:00:00 2001 From: Lee Salminen Date: Wed, 4 Oct 2023 15:22:31 -0600 Subject: [PATCH 03/13] add json output --- .../101-combined.json | 93 ++++++++++ .../101-es-combined.json | 93 ++++++++++ .../101.01-lesson-what-is-bitcoin.json | 17 ++ .../101.02-lesson-sat.json | 17 ++ .../101.03-lesson-where-bitcoin-exist.json | 17 ++ .../101.04-lesson-who-controls-bitcoin.json | 17 ++ .../101.05-lesson-copy-bitcoin.json | 17 ++ chapter-102-what-is-money/102-combined.json | 110 ++++++++++++ .../102-es-combined.json | 110 ++++++++++++ .../102.01-lesson-money-social-agreement.json | 17 ++ .../102.02-lesson-coincidence-of-wants.json | 17 ++ .../102.03-lesson-money-evolution.json | 17 ++ .../102.04-lesson-why-stones-shell-gold.json | 17 ++ .../102.05-lesson-money-is-important.json | 17 ++ ...06-lesson-money-important-governement.json | 17 ++ .../103-combined.json | 93 ++++++++++ .../103-es-combined.json | 93 ++++++++++ .../103.01-lesson-what-is-fiat.json | 17 ++ ...3.02-lesson-why-care-about-fiat-money.json | 17 ++ ...03-lesson-governement-can-print-money.json | 17 ++ ....04-lesson-fiat-loses-value-over-time.json | 17 ++ .../103.05-lesson-other-issues.json | 17 ++ .../104-combined.json | 110 ++++++++++++ .../104-es-combined.json | 110 ++++++++++++ .../104.01-lesson-limited-supply.json | 17 ++ .../104.02-lesson-decentralized.json | 17 ++ .../104.03-lesson-no-counterfeit-money.json | 17 ++ .../104.04-lesson-highly-divisible.json | 17 ++ .../104.05-lesson-secure-part-one.json | 17 ++ .../104.06-lesson-secure-part-two.json | 17 ++ .../201-combined.json | 93 ++++++++++ .../201-es-combined.json | 93 ++++++++++ .../201.01-lesson-origins-of-money.json | 17 ++ .../201.02-lesson-primitive-money.json | 17 ++ .../201.03-lesson-anticipating-demand.json | 17 ++ .../201.04-lesson-nash-equilibrium.json | 17 ++ .../201.05-lesson-single-store-of-value.json | 17 ++ .../202-combined.json | 161 ++++++++++++++++++ .../202-es-combined.json | 161 ++++++++++++++++++ .../202.01-lesson-what-is-good-sov.json | 17 ++ .../202.02-lesson-durability.json | 17 ++ .../202.03-lesson-portability.json | 17 ++ .../202.04-lesson-fungibility.json | 17 ++ .../202.05-lesson-verifiability.json | 17 ++ .../202.06-lesson-divisibility.json | 17 ++ .../202.07-lesson-scarce.json | 17 ++ .../202.08-lesson-established-history.json | 17 ++ .../202.09-lesson-censorship-resistance.json | 17 ++ .../203-combined.json | 127 ++++++++++++++ .../203-es-combined.json | 127 ++++++++++++++ .../203.01-lesson-evolution-money.json | 17 ++ .../203.02-lesson-collectible.json | 17 ++ .../203.03-lesson-store-of-value.json | 17 ++ .../203.04-lesson-medium-of-exchange.json | 17 ++ .../203.05-lesson-unit-of-account.json | 17 ++ .../203.06-lesson-partly-monetized.json | 17 ++ .../203.07-lesson-monitization-stage.json | 17 ++ .../204-combined.json | 93 ++++++++++ .../204-es-combined.json | 93 ++++++++++ .../204.01-lesson-not-from-government.json | 17 ++ .../204.02-lesson-primary-functoin.json | 17 ++ .../204.03-lesson-monetary-metals.json | 17 ++ .../204.05-lesson-stock-to-flow.json | 17 ++ .../204.06-lesson-hard-money.json | 17 ++ .../205-combined.json | 144 ++++++++++++++++ .../205-es-combined.json | 144 ++++++++++++++++ .../205.01-lesson-converging-on-gold.json | 17 ++ .../205.02-lesson-origins-of-paper-money.json | 17 ++ .../205.03-lesson-fractional-reserve.json | 17 ++ .../205.04-lesson-bank-run.json | 17 ++ .../205.05-lesson-modern-central-banking.json | 17 ++ .../205.06-lesson-gold-backed.json | 17 ++ .../205.07-lesson-bretton-woords.json | 17 ++ .../205.08-lesson-global-reserve.json | 17 ++ .../206-combined.json | 144 ++++++++++++++++ .../206-es-combined.json | 144 ++++++++++++++++ .../206.01-lesson-nixon-shock.json | 17 ++ .../206.02-lesson-fiat-era.json | 17 ++ .../206.03-lesson-digital-fiat.json | 17 ++ .../206.04-lesson-plastic-credit.json | 17 ++ .../206.05-lesson-double-spend-problem.json | 17 ++ .../206.06-lesson-innovative-solution.json | 17 ++ .../206.07-lesson-natively-digital.json | 17 ++ .../206.08-lesson-cdbcs.json | 17 ++ .../301-combined.json | 110 ++++++++++++ .../301-es-combined.json | 110 ++++++++++++ .../301.01-lesson-root-problem.json | 17 ++ .../301.02-lesson-bitcoin-creator.json | 17 ++ .../301.03-lesson-fiat-requires-trust.json | 17 ++ .../301.04-lesson-money-printing.json | 17 ++ .../301.05-lesson-genesis-block.json | 17 ++ .../301.06-lesson-cypher-punks.json | 17 ++ .../302-combined.json | 144 ++++++++++++++++ .../302-es-combined.json | 144 ++++++++++++++++ .../302.01-lesson-peer-2-peer.json | 17 ++ .../302.02-lesson-blockchain.json | 17 ++ .../302.03-lesson-private-key.json | 17 ++ .../302.04-lesson-public-key.json | 17 ++ .../302.05-lesson-mining.json | 17 ++ .../302.06-lesson-proof-of-work.json | 17 ++ .../302.07-lesson-difficulty-adjustment.json | 17 ++ .../302.08-lesson-halving.json | 17 ++ .../401-combined.json | 144 ++++++++++++++++ .../401-es-combined.json | 144 ++++++++++++++++ .../401.01-lesson-bitcoin-drawbacks.json | 17 ++ .../401.02-lesson-block-size-wars.json | 17 ++ .../401.03-lesson-lightning-network.json | 17 ++ .../401.04-lesson-instant-payments.json | 17 ++ .../401.05-lesson-micro-payments.json | 17 ++ .../401.06-lesson-scalability.json | 17 ++ .../401.07-lesson-payment-channels.json | 17 ++ .../401.08-lesson-routing.json | 17 ++ .../501-combined.json | 110 ++++++++++++ .../501-es-combined.json | 110 ++++++++++++ .../501.01-lesson-its-a-bubble.json | 17 ++ .../501.02-lesson-its-too-volatile.json | 17 ++ .../501.03-lesson-its-not-backed.json | 17 ++ .../501.04-lesson-will-become-obsolete.json | 17 ++ .../501.05-lesson-too-much-energy.json | 17 ++ .../501.06-lesson-stranded-energy.json | 17 ++ .../502-combined.json | 110 ++++++++++++ .../502-es-combined.json | 110 ++++++++++++ .../502.01-lesson-internet-dependent.json | 17 ++ .../502.02-lesson-for-crime-only.json | 17 ++ .../502.03-lesson-ponzi-scheme.json | 17 ++ .../502.04-lesson-bitcoin-is-too-slow.json | 17 ++ .../502.05-lesson-supply-limit.json | 17 ++ .../502.06-lesson-government-ban.json | 17 ++ .../503-combined.json | 110 ++++++++++++ .../503-es-combined.json | 110 ++++++++++++ .../503.01-lesson.concentrated-ownership.json | 17 ++ .../503.02-lesson-centralized-mining.json | 17 ++ .../503.03-lesson-too-expensive.json | 17 ++ .../503.04-lesson-prohibitively-high.json | 17 ++ .../503.05-lesson-will-be-hoarded.json | 17 ++ .../503.06-lesson-can-be-duplicated.json | 17 ++ .../601-combined.json | 110 ++++++++++++ .../601-es-combined.json | 110 ++++++++++++ .../601.01-lesson-scarcity.json | 17 ++ .../601.02-lesson-monetary-premium.json | 17 ++ .../601.03-lesson-greshams-law.json | 17 ++ .../601.04-lesson-thiers-law.json | 17 ++ .../601.05-lesson-cantillon-effect.json | 17 ++ .../601.06-lesson-schelling-point.json | 17 ++ .../602-combined.json | 110 ++++++++++++ .../602-es-combined.json | 110 ++++++++++++ .../602.01-lesson-opportunity-cost.json | 17 ++ .../602.02-lesson-time-preference.json | 17 ++ .../602.03-lesson-impossible-trinity.json | 17 ++ .../602.04-lesson-jevons-paradox.json | 17 ++ .../602.05-lesson-powerlaws.json | 17 ++ .../602.06-lesson-winner-wake-all.json | 17 ++ .../603-combined.json | 93 ++++++++++ .../603-es-combined.json | 93 ++++++++++ .../603.01-lesson-unit-bias.json | 17 ++ .../603.02-lesson-veblen-good.json | 17 ++ .../603.03-lesson-malinvestment.json | 17 ++ .../603.04-lesson-asymmetric-payoff.json | 17 ++ .../603.05-lesson-ansoff-matrix.json | 17 ++ 159 files changed, 6475 insertions(+) create mode 100644 chapter-101-bitcoin-what-is-it/101-combined.json create mode 100644 chapter-101-bitcoin-what-is-it/101-es-combined.json create mode 100644 chapter-101-bitcoin-what-is-it/101.01-lesson-what-is-bitcoin.json create mode 100644 chapter-101-bitcoin-what-is-it/101.02-lesson-sat.json create mode 100644 chapter-101-bitcoin-what-is-it/101.03-lesson-where-bitcoin-exist.json create mode 100644 chapter-101-bitcoin-what-is-it/101.04-lesson-who-controls-bitcoin.json create mode 100644 chapter-101-bitcoin-what-is-it/101.05-lesson-copy-bitcoin.json create mode 100644 chapter-102-what-is-money/102-combined.json create mode 100644 chapter-102-what-is-money/102-es-combined.json create mode 100644 chapter-102-what-is-money/102.01-lesson-money-social-agreement.json create mode 100644 chapter-102-what-is-money/102.02-lesson-coincidence-of-wants.json create mode 100644 chapter-102-what-is-money/102.03-lesson-money-evolution.json create mode 100644 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chapter-202-attributes-of-a-good-store-of-value/202.07-lesson-scarce.json create mode 100644 chapter-202-attributes-of-a-good-store-of-value/202.08-lesson-established-history.json create mode 100644 chapter-202-attributes-of-a-good-store-of-value/202.09-lesson-censorship-resistance.json create mode 100644 chapter-203-the-evolution-of-money-i/203-combined.json create mode 100644 chapter-203-the-evolution-of-money-i/203-es-combined.json create mode 100755 chapter-203-the-evolution-of-money-i/203.01-lesson-evolution-money.json create mode 100644 chapter-203-the-evolution-of-money-i/203.02-lesson-collectible.json create mode 100644 chapter-203-the-evolution-of-money-i/203.03-lesson-store-of-value.json create mode 100644 chapter-203-the-evolution-of-money-i/203.04-lesson-medium-of-exchange.json create mode 100644 chapter-203-the-evolution-of-money-i/203.05-lesson-unit-of-account.json create mode 100644 chapter-203-the-evolution-of-money-i/203.06-lesson-partly-monetized.json create mode 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chapter-301-bitcoin-why-was-it-created/301.04-lesson-money-printing.json create mode 100644 chapter-301-bitcoin-why-was-it-created/301.05-lesson-genesis-block.json create mode 100644 chapter-301-bitcoin-why-was-it-created/301.06-lesson-cypher-punks.json create mode 100644 chapter-302-bitcoin-how-does-it-work/302-combined.json create mode 100644 chapter-302-bitcoin-how-does-it-work/302-es-combined.json create mode 100644 chapter-302-bitcoin-how-does-it-work/302.01-lesson-peer-2-peer.json create mode 100644 chapter-302-bitcoin-how-does-it-work/302.02-lesson-blockchain.json create mode 100644 chapter-302-bitcoin-how-does-it-work/302.03-lesson-private-key.json create mode 100644 chapter-302-bitcoin-how-does-it-work/302.04-lesson-public-key.json create mode 100644 chapter-302-bitcoin-how-does-it-work/302.05-lesson-mining.json create mode 100644 chapter-302-bitcoin-how-does-it-work/302.06-lesson-proof-of-work.json create mode 100644 chapter-302-bitcoin-how-does-it-work/302.07-lesson-difficulty-adjustment.json create mode 100644 chapter-302-bitcoin-how-does-it-work/302.08-lesson-halving.json create mode 100644 chapter-401-lightning-network/401-combined.json create mode 100644 chapter-401-lightning-network/401-es-combined.json create mode 100644 chapter-401-lightning-network/401.01-lesson-bitcoin-drawbacks.json create mode 100644 chapter-401-lightning-network/401.02-lesson-block-size-wars.json create mode 100644 chapter-401-lightning-network/401.03-lesson-lightning-network.json create mode 100644 chapter-401-lightning-network/401.04-lesson-instant-payments.json create mode 100644 chapter-401-lightning-network/401.05-lesson-micro-payments.json create mode 100644 chapter-401-lightning-network/401.06-lesson-scalability.json create mode 100644 chapter-401-lightning-network/401.07-lesson-payment-channels.json create mode 100644 chapter-401-lightning-network/401.08-lesson-routing.json create mode 100644 chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json create mode 100644 chapter-501-bitcoin-criticisms-fallacies-i/501-es-combined.json create mode 100644 chapter-501-bitcoin-criticisms-fallacies-i/501.01-lesson-its-a-bubble.json create mode 100644 chapter-501-bitcoin-criticisms-fallacies-i/501.02-lesson-its-too-volatile.json create mode 100644 chapter-501-bitcoin-criticisms-fallacies-i/501.03-lesson-its-not-backed.json create mode 100644 chapter-501-bitcoin-criticisms-fallacies-i/501.04-lesson-will-become-obsolete.json create mode 100644 chapter-501-bitcoin-criticisms-fallacies-i/501.05-lesson-too-much-energy.json create mode 100644 chapter-501-bitcoin-criticisms-fallacies-i/501.06-lesson-stranded-energy.json create mode 100644 chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json create mode 100644 chapter-502-bitcoin-criticisms-fallacies-ii/502-es-combined.json create mode 100644 chapter-502-bitcoin-criticisms-fallacies-ii/502.01-lesson-internet-dependent.json create mode 100644 chapter-502-bitcoin-criticisms-fallacies-ii/502.02-lesson-for-crime-only.json create mode 100644 chapter-502-bitcoin-criticisms-fallacies-ii/502.03-lesson-ponzi-scheme.json create mode 100644 chapter-502-bitcoin-criticisms-fallacies-ii/502.04-lesson-bitcoin-is-too-slow.json create mode 100644 chapter-502-bitcoin-criticisms-fallacies-ii/502.05-lesson-supply-limit.json create mode 100644 chapter-502-bitcoin-criticisms-fallacies-ii/502.06-lesson-government-ban.json create mode 100644 chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json create mode 100644 chapter-503-bitcoin-criticisms-fallacies-iii/503-es-combined.json create mode 100644 chapter-503-bitcoin-criticisms-fallacies-iii/503.01-lesson.concentrated-ownership.json create mode 100644 chapter-503-bitcoin-criticisms-fallacies-iii/503.02-lesson-centralized-mining.json create mode 100644 chapter-503-bitcoin-criticisms-fallacies-iii/503.03-lesson-too-expensive.json create mode 100644 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chapter-603-bitcoin-and-economics-iii/603.02-lesson-veblen-good.json create mode 100644 chapter-603-bitcoin-and-economics-iii/603.03-lesson-malinvestment.json create mode 100644 chapter-603-bitcoin-and-economics-iii/603.04-lesson-asymmetric-payoff.json create mode 100644 chapter-603-bitcoin-and-economics-iii/603.05-lesson-ansoff-matrix.json diff --git a/chapter-101-bitcoin-what-is-it/101-combined.json b/chapter-101-bitcoin-what-is-it/101-combined.json new file mode 100644 index 0000000..1072b8f --- /dev/null +++ b/chapter-101-bitcoin-what-is-it/101-combined.json @@ -0,0 +1,93 @@ +{ + "content": [ + { + "answers": [ + "Digital Money", + "A video game", + "A new cartoon character" + ], + "feedback": [ + "Correct. You just earned 1 “sat”!", + "Incorrect, please try again.", + "Nope. At least not one that we know of!" + ], + "id": "whatIsBitcoin", + "question": "So what exactly is Bitcoin", + "text": "Bitcoin is digital money. It can be transferred instantly and securely between any two people in the world — without the need for a bank or any other financial company in the middle.", + "title": "So what exactly is Bitcoin?", + "type": "Text" + }, + { + "answers": [ + "The smallest unit of Bitcoin", + "A small satellite", + "A space cat 🐱🚀" + ], + "feedback": [ + "Correct. You just earned another two sats!!", + "Maybe… but that is not the correct answer in this context 🙂", + "Ummm.... not quite!" + ], + "id": "sat", + "question": "I just earned a “Sat\". What is that?", + "text": "One “Sat” is the smallest unit of a bitcoin. We all know that one US Dollar can be divided into 100 cents. Similarly, one Bitcoin can be divided into 100,000,000 sats. In fact, you do not need to own one whole bitcoin in order to use it. You can use bitcoin whether you have 20 sats, 3000 sats — or 100,000,000 sats (which you now know is equal to one bitcoin).\n", + "title": "I just earned a “Sat”. What is that?", + "type": "Text" + }, + { + "answers": [ + "On the Internet", + "On the moon", + "In a Federal bank account" + ], + "feedback": [ + "Correct. You just earned another 5 sats.", + "Incorrect. Well… at least not yet ;)", + "Wrong. Please try again." + ], + "id": "whereBitcoinExist", + "question": "Where do the bitcoins exist?", + "text": "Bitcoin is a new form of money. It can be used by anyone, anytime -- anywhere in the world. It is not tied to a specific government or region (like US Dollars). There are also no paper bills, metal coins or plastic cards. Everything is 100% digital. Bitcoin is a network of computers running on the internet. Your bitcoin is easily managed with software on your smartphone or computer!\n", + "title": "Where do the bitcoins exist?", + "type": "Text" + }, + { + "answers": [ + "A voluntary community of users around the world", + "Mr Burns from The Simpsons", + "The government of France" + ], + "feedback": [ + "That is right. Bitcoin is made possible by people all around the world running bitcoin software on their computers and smartphones.", + "An amusing thought — but not correct!", + "Wrong. There is no company nor government that controls Bitcoin." + ], + "id": "whoControlsBitcoin", + "question": "Who controls Bitcoin?", + "text": "Bitcoin is not controlled by any person, company or government. It is run by the community of users -- people and companies all around the world -- voluntarily running bitcoin software on their computers and smartphones.\n", + "title": "Who controls Bitcoin?", + "type": "Text" + }, + { + "answers": [ + "No — it is impossible to copy or duplicate the value of bitcoin", + "Yes, you can copy bitcoins just as easily as copying a digital photo", + "Yes, but copying bitcoin requires very specialized computers" + ], + "feedback": [ + "copy or duplicate the value of bitcoin", + "You know that it is not true. Try again.", + "Incorrect. There is no way for anyone to copy, or create a duplicate, of bitcoin." + ], + "id": "copyBitcoin", + "question": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", + "text": "The value of a bitcoin can never be copied. This is the very reason why Bitcoin is such a powerful new invention!! Most digital files — such as an iPhone photo, an MP3 song, or a Microsoft Word document — can easily be duplicated and shared. The Bitcoin software uniquely prevents the duplication — or “double spending” — of digital money. We will share exactly how this works later on!\n", + "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", + "type": "Text" + } + ], + "meta": { + "id": "Bitcoin:Whatisit?", + "title": "Bitcoin: What is it?" + } +} diff --git a/chapter-101-bitcoin-what-is-it/101-es-combined.json b/chapter-101-bitcoin-what-is-it/101-es-combined.json new file mode 100644 index 0000000..3c29e76 --- /dev/null +++ b/chapter-101-bitcoin-what-is-it/101-es-combined.json @@ -0,0 +1,93 @@ +{ + "content": [ + { + "answers": [ + "Dinero Digital", + "Un videojuego", + "Un nuevo personaje de dibujos animados" + ], + "feedback": [ + "Correcto. \u00a1Acabas de ganar 1 \u201csat\u201d!", + "Incorrecto por favor int\u00e9ntelo de nuevo.", + "No. \u00a1Al menos no uno que sepamos!" + ], + "id": "\u00bfQu\u00e9 es Bitcoin?", + "question": "Entonces, \u00bfqu\u00e9 es exactamente Bitcoin?", + "text": "Bitcoin es dinero digital. Se puede transferir de forma instant\u00e1nea y segura entre dos personas cualesquiera en el mundo, sin necesidad de que haya un banco ni ninguna otra empresa financiera en el medio.", + "title": "Entonces, \u00bfqu\u00e9 es exactamente Bitcoin?", + "type": "Texto" + }, + { + "answers": [ + "La unidad m\u00e1s peque\u00f1a de Bitcoin", + "Un peque\u00f1o sat\u00e9lite", + "Un gato espacial \ud83d\udc31\ud83d\ude80" + ], + "feedback": [ + "Correcto. \u00a1\u00a1Acabas de ganar otros dos sats!!", + "Quiz\u00e1s\u2026 pero esa no es la respuesta correcta en este contexto \ud83d\ude42", + "Ummm... \u00a1no del todo!" + ], + "id": "se sent\u00f3", + "question": "Acabo de obtener un \"Sat\". \u00bfQu\u00e9 es eso?", + "text": "Un \"Sat\" es la unidad m\u00e1s peque\u00f1a de un bitcoin. Todos sabemos que un d\u00f3lar estadounidense se puede dividir en 100 centavos. De manera similar, un Bitcoin se puede dividir en 100.000.000 de sats. De hecho, no es necesario poseer un bitcoin completo para poder utilizarlo. Puedes usar bitcoin ya sea que tengas 20 sats, 3000 sats o 100.000.000 de sats (que ahora sabes que equivalen a un bitcoin).\n", + "title": "Acabo de obtener un \"Sat\". \u00bfQu\u00e9 es eso?", + "type": "Texto" + }, + { + "answers": [ + "En Internet", + "En la Luna", + "En una cuenta de banco federal" + ], + "feedback": [ + "Correcto. Acabas de obtener otros 5 sats.", + "Incorrecto. Bueno\u2026 al menos no todav\u00eda ;)", + "Equivocado. Int\u00e9ntalo de nuevo." + ], + "id": "donde existeBitcoin", + "question": "\u00bfD\u00f3nde existen los bitcoins?", + "text": "Bitcoin es una nueva forma de dinero. Puede ser utilizado por cualquier persona, en cualquier momento y en cualquier parte del mundo. No est\u00e1 vinculado a ning\u00fan gobierno o regi\u00f3n espec\u00edfica (como los d\u00f3lares estadounidenses). Tampoco hay billetes de papel, monedas de metal ni tarjetas de pl\u00e1stico. Todo es 100% digital. Bitcoin es una red de computadoras que se ejecutan en Internet. \u00a1Sus bitcoins se administran f\u00e1cilmente con el software de su tel\u00e9fono inteligente o computadora!\n", + "title": "\u00bfD\u00f3nde existen los bitcoins?", + "type": "Texto" + }, + { + "answers": [ + "Una comunidad voluntaria de usuarios de todo el mundo.", + "Se\u00f1or Burns de Los Simpson", + "El gobierno de Francia" + ], + "feedback": [ + "Eso es correcto. Bitcoin es posible gracias a personas de todo el mundo que ejecutan software bitcoin en sus computadoras y tel\u00e9fonos inteligentes.", + "Un pensamiento divertido, \u00a1pero no correcto!", + "Equivocado. No existe ninguna empresa ni gobierno que controle Bitcoin." + ], + "id": "qui\u00e9ncontrolaBitcoin", + "question": "\u00bfQui\u00e9n controla Bitcoin?", + "text": "Bitcoin no est\u00e1 controlado por ninguna persona, empresa o gobierno. Est\u00e1 dirigido por la comunidad de usuarios (personas y empresas de todo el mundo) que ejecutan voluntariamente software bitcoin en sus computadoras y tel\u00e9fonos inteligentes.\n", + "title": "\u00bfQui\u00e9n controla Bitcoin?", + "type": "Texto" + }, + { + "answers": [ + "No, es imposible copiar o duplicar el valor de bitcoin", + "S\u00ed, puedes copiar bitcoins tan f\u00e1cilmente como copiar una fotograf\u00eda digital", + "S\u00ed, pero copiar bitcoins requiere computadoras muy especializadas" + ], + "feedback": [ + "copiar o duplicar el valor de bitcoin", + "Sabes que no es verdad. Intentar otra vez.", + "Incorrecto. No hay forma de que nadie copie o cree un duplicado de bitcoin." + ], + "id": "copiarBitcoin", + "question": "Si Bitcoin es dinero digital, \u00bfno puede alguien simplemente copiarlo y crear dinero gratis?", + "text": "El valor de un bitcoin nunca se puede copiar. \u00a1Esta es la raz\u00f3n por la que Bitcoin es un nuevo invento tan poderoso! La mayor\u00eda de los archivos digitales, como una fotograf\u00eda de iPhone, una canci\u00f3n MP3 o un documento de Microsoft Word, se pueden duplicar y compartir f\u00e1cilmente. El software Bitcoin previene de manera \u00fanica la duplicaci\u00f3n (o \u201cdoble gasto\u201d) del dinero digital. \u00a1Compartiremos exactamente c\u00f3mo funciona esto m\u00e1s adelante!\n", + "title": "Si Bitcoin es dinero digital, \u00bfno puede alguien simplemente copiarlo y crear dinero gratis?", + "type": "Texto" + } + ], + "meta": { + "id": "Bitcoin: \u00bfQu\u00e9 es?", + "title": "Bitcoin: \u00bfQu\u00e9 es?" + } +} \ No newline at end of file diff --git a/chapter-101-bitcoin-what-is-it/101.01-lesson-what-is-bitcoin.json b/chapter-101-bitcoin-what-is-it/101.01-lesson-what-is-bitcoin.json new file mode 100644 index 0000000..f194d1f --- /dev/null +++ b/chapter-101-bitcoin-what-is-it/101.01-lesson-what-is-bitcoin.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Digital Money", + "A video game", + "A new cartoon character" + ], + "feedback": [ + "Correct. You just earned 1 “sat”!", + "Incorrect, please try again.", + "Nope. At least not one that we know of!" + ], + "id": "whatIsBitcoin", + "question": "So what exactly is Bitcoin", + "text": "Bitcoin is digital money. It can be transferred instantly and securely between any two people in the world — without the need for a bank or any other financial company in the middle.", + "title": "So what exactly is Bitcoin?", + "type": "Text" +} diff --git a/chapter-101-bitcoin-what-is-it/101.02-lesson-sat.json b/chapter-101-bitcoin-what-is-it/101.02-lesson-sat.json new file mode 100644 index 0000000..cea476c --- /dev/null +++ b/chapter-101-bitcoin-what-is-it/101.02-lesson-sat.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The smallest unit of Bitcoin", + "A small satellite", + "A space cat 🐱🚀" + ], + "feedback": [ + "Correct. You just earned another two sats!!", + "Maybe… but that is not the correct answer in this context 🙂", + "Ummm.... not quite!" + ], + "id": "sat", + "question": "I just earned a “Sat\". What is that?", + "text": "One “Sat” is the smallest unit of a bitcoin. We all know that one US Dollar can be divided into 100 cents. Similarly, one Bitcoin can be divided into 100,000,000 sats. In fact, you do not need to own one whole bitcoin in order to use it. You can use bitcoin whether you have 20 sats, 3000 sats — or 100,000,000 sats (which you now know is equal to one bitcoin).\n", + "title": "I just earned a “Sat”. What is that?", + "type": "Text" +} diff --git a/chapter-101-bitcoin-what-is-it/101.03-lesson-where-bitcoin-exist.json b/chapter-101-bitcoin-what-is-it/101.03-lesson-where-bitcoin-exist.json new file mode 100644 index 0000000..8dafcb2 --- /dev/null +++ b/chapter-101-bitcoin-what-is-it/101.03-lesson-where-bitcoin-exist.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "On the Internet", + "On the moon", + "In a Federal bank account" + ], + "feedback": [ + "Correct. You just earned another 5 sats.", + "Incorrect. Well… at least not yet ;)", + "Wrong. Please try again." + ], + "id": "whereBitcoinExist", + "question": "Where do the bitcoins exist?", + "text": "Bitcoin is a new form of money. It can be used by anyone, anytime -- anywhere in the world. It is not tied to a specific government or region (like US Dollars). There are also no paper bills, metal coins or plastic cards. Everything is 100% digital. Bitcoin is a network of computers running on the internet. Your bitcoin is easily managed with software on your smartphone or computer!\n", + "title": "Where do the bitcoins exist?", + "type": "Text" +} diff --git a/chapter-101-bitcoin-what-is-it/101.04-lesson-who-controls-bitcoin.json b/chapter-101-bitcoin-what-is-it/101.04-lesson-who-controls-bitcoin.json new file mode 100644 index 0000000..cf3f6ac --- /dev/null +++ b/chapter-101-bitcoin-what-is-it/101.04-lesson-who-controls-bitcoin.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A voluntary community of users around the world", + "Mr Burns from The Simpsons", + "The government of France" + ], + "feedback": [ + "That is right. Bitcoin is made possible by people all around the world running bitcoin software on their computers and smartphones.", + "An amusing thought — but not correct!", + "Wrong. There is no company nor government that controls Bitcoin." + ], + "id": "whoControlsBitcoin", + "question": "Who controls Bitcoin?", + "text": "Bitcoin is not controlled by any person, company or government. It is run by the community of users -- people and companies all around the world -- voluntarily running bitcoin software on their computers and smartphones.\n", + "title": "Who controls Bitcoin?", + "type": "Text" +} diff --git a/chapter-101-bitcoin-what-is-it/101.05-lesson-copy-bitcoin.json b/chapter-101-bitcoin-what-is-it/101.05-lesson-copy-bitcoin.json new file mode 100644 index 0000000..0b7f558 --- /dev/null +++ b/chapter-101-bitcoin-what-is-it/101.05-lesson-copy-bitcoin.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "No — it is impossible to copy or duplicate the value of bitcoin", + "Yes, you can copy bitcoins just as easily as copying a digital photo", + "Yes, but copying bitcoin requires very specialized computers" + ], + "feedback": [ + "copy or duplicate the value of bitcoin", + "You know that it is not true. Try again.", + "Incorrect. There is no way for anyone to copy, or create a duplicate, of bitcoin." + ], + "id": "copyBitcoin", + "question": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", + "text": "The value of a bitcoin can never be copied. This is the very reason why Bitcoin is such a powerful new invention!! Most digital files — such as an iPhone photo, an MP3 song, or a Microsoft Word document — can easily be duplicated and shared. The Bitcoin software uniquely prevents the duplication — or “double spending” — of digital money. We will share exactly how this works later on!\n", + "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", + "type": "Text" +} diff --git a/chapter-102-what-is-money/102-combined.json b/chapter-102-what-is-money/102-combined.json new file mode 100644 index 0000000..4ccc69e --- /dev/null +++ b/chapter-102-what-is-money/102-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "Because people trust that other people will value money similarly", + "Because your mother told you so", + "Because a dollar bill is worth its weight in gold" + ], + "feedback": [ + "Correct. This is what allows money to work!", + "She may well have. But that is not the correct answer here!", + "Nope. In the past you could exchange US dollars for gold. But this is no longer the case." + ], + "id": "moneySocialAgreement", + "question": "Why does money have value?", + "text": "Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.\n", + "title": "Money is a social agreement.", + "type": "Text" + }, + { + "answers": [ + "Coincidence of wants", + "Coincidence of day and night", + "Coincidence of the moon blocking the sun" + ], + "feedback": [ + "That is right. Money allows you to easily purchase something, without haggling about the form of payment", + "No silly, you know that is not the answer.", + "Not quite. We call that a solar eclipse 🌚" + ], + "id": "coincidenceOfWants", + "question": "Which coincidence does money solve?", + "text": "Centuries ago, before people had money, they would barter -- or haggle over how to trade one unique item, in exchange for another item or service. Let’s say you wanted to have a meal at the local restaurant, and offered the owner a broom. The owner might say “no” -- but I will accept three hats instead, if you happen to have them. You can imagine how difficult and inefficient a “barter economy” would be! By contrast, with money, you can simply present a $20 bill. And you know that the restaurant owner will readily accept it.\n", + "title": "Money solves the “coincidence of wants”... What is that??", + "type": "Text" + }, + { + "answers": [ + "Stones, seashells and gold", + "Tiny plastic Monopoly board game houses", + "Coins made of chocolate" + ], + "feedback": [ + "Correct. Items that are rare and difficult to copy have often been used as money.", + "Wrong. They may have value when playing a game -- but not in the real world!", + "Nope. They may be tasty. But they are not useful as money." + ], + "id": "moneyEvolution", + "question": "What are some items that have been historically used as a unit of money?", + "text": "Thousands of years ago, a society in Micronesia used very large and scarce stones as a form of agreed currency. Starting in the 1500’s, rare Cowrie shells (found in the ocean) became commonly used in many nations as a form of money. And for millennia, gold has been used as a form of money for countries around the world -- including the United States (until 1971).\n", + "title": "Money has evolved, since almost the beginning of time.", + "type": "Text" + }, + { + "answers": [ + "Because they have key characteristics -- such as being durable, uniform and divisible.", + "Because they are pretty and shiny.", + "Because they fit inside of your pocket" + ], + "feedback": [ + "Correct. More key characteristics include being scarce and portable.", + "Incorrect. That may be true, but alone are not great characteristics of money.", + "Not quite. Although these items were surely portable, that alone was not the reason to be used as money." + ], + "id": "whyStonesShellGold", + "question": "Why were stones, seashells and gold used as units of money?", + "text": "Well, these items all had some -- but not all -- of the characteristics of good money.\n\n\n\nSo what characteristics make for “good” money?\nScarce: not abundant, nor easy to reproduce or copy\nAccepted: relatively easy for people to verify its authenticity\nDurable: easy to maintain, and does not perish or fall apart\nUniform: readily interchangeable with another item of the same form\nPortable: easy to transport\nDivisible: can be split and shared in smaller pieces\n", + "title": "Why were stones, shells and gold commonly used as money in the past?", + "type": "Text" + }, + { + "answers": [ + "Money allows people to buy goods and services today -- and tomorrow.", + "Money allows you to go to the moon.", + "Money is the solution to all problems." + ], + "feedback": [ + "That is right!", + "Incorrect. Although that may change in the future ;)", + "Not quite. Although some people may believe such, this answer does not address the primary purpose of money." + ], + "id": "moneyIsImportant", + "question": "What is the primary reason money is important?", + "text": "Everybody knows that money matters.\n\n\nMost people exchange their time and energy -- in the form of work -- to obtain money. People do so, to be able to buy goods and services today -- and in the future.\n", + "title": "Money is important to individuals", + "type": "Text" + }, + { + "answers": [ + "The US Central Bank (The Federal Reserve)", + "Mr Burns from The Simpsons", + "A guy with a printing press in his basement" + ], + "feedback": [ + "Correct. The US Government can print as much money as they want at any time.", + "Incorrect. Although it did seem like he always had a lot of money.", + "No. Whilst some people do create fake dollar bills, it is definitely not legal!" + ], + "id": "moneyImportantGovernement", + "question": "Who can legally print US Dollars, anytime they wish?", + "text": "Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.\n \n Accordingly, in most every nation, the government holds the power to issue and control money.\n\n\n In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.\n\n\n The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\n Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??\n", + "title": "Money is also important to governments", + "type": "Text" + } + ], + "meta": { + "id": "WhatisMoney?", + "title": "What is Money?" + } +} diff --git a/chapter-102-what-is-money/102-es-combined.json b/chapter-102-what-is-money/102-es-combined.json new file mode 100644 index 0000000..33bcc55 --- /dev/null +++ b/chapter-102-what-is-money/102-es-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "Porque la gente conf\u00eda en que otras personas valorar\u00e1n el dinero de manera similar.", + "Porque tu madre te lo dijo", + "Porque un billete de un d\u00f3lar vale su peso en oro" + ], + "feedback": [ + "Correcto. \u00a1Esto es lo que permite que el dinero funcione!", + "Es muy posible que lo haya hecho. \u00a1Pero esa no es la respuesta correcta aqu\u00ed!", + "No. En el pasado se pod\u00edan cambiar d\u00f3lares estadounidenses por oro. Pero esto ya no es el caso." + ], + "id": "dineroSocialAcuerdo", + "question": "\u00bfPor qu\u00e9 el dinero tiene valor?", + "text": "El dinero requiere que la gente conf\u00ede. La gente conf\u00eda en los billetes de un d\u00f3lar que lleva en el bolsillo. Conf\u00edan en los d\u00edgitos de su cuenta bancaria en l\u00ednea. Conf\u00edan en que el saldo de una tarjeta de regalo de la tienda se podr\u00e1 canjear. Tener dinero permite a las personas intercambiarlo f\u00e1cilmente por un bien o servicio.\n", + "title": "El dinero es un acuerdo social.", + "type": "Texto" + }, + { + "answers": [ + "Coincidencia de deseos", + "Coincidencia del d\u00eda y la noche.", + "Coincidencia de la luna bloqueando el sol." + ], + "feedback": [ + "Eso es correcto. El dinero te permite comprar algo f\u00e1cilmente, sin regatear la forma de pago.", + "No tonto, sabes que esa no es la respuesta.", + "No exactamente. A eso lo llamamos eclipse solar \ud83c\udf1a" + ], + "id": "coincidenciadequieres", + "question": "\u00bfQu\u00e9 coincidencia resuelve el dinero?", + "text": "Hace siglos, antes de que la gente tuviera dinero, hac\u00edan trueques o regateaban sobre c\u00f3mo intercambiar un art\u00edculo \u00fanico a cambio de otro art\u00edculo o servicio. Digamos que usted quiere comer en el restaurante local y le ofrece al due\u00f1o una escoba. El propietario podr\u00eda decir \u201cno\u201d, pero en su lugar aceptar\u00e9 tres sombreros, si es que los tienes. \u00a1Puedes imaginar lo dif\u00edcil e ineficiente que ser\u00eda una \u201ceconom\u00eda de trueque\u201d! Por el contrario, con el dinero, simplemente puedes presentar un billete de 20 d\u00f3lares. Y sabes que el due\u00f1o del restaurante lo aceptar\u00e1 de buena gana.\n", + "title": "El dinero soluciona la \u201ccoincidencia de deseos\u201d... \u00bf\u00bfQu\u00e9 es eso??", + "type": "Texto" + }, + { + "answers": [ + "Piedras, conchas y oro.", + "Peque\u00f1as casas de pl\u00e1stico para juegos de mesa Monopoly", + "Monedas hechas de chocolate" + ], + "feedback": [ + "Correcto. Los art\u00edculos que son raros y dif\u00edciles de copiar a menudo se han utilizado como dinero.", + "Equivocado. Es posible que tengan valor al jugar, \u00a1pero no en el mundo real!", + "No. Puede que sean sabrosos. Pero no sirven como dinero." + ], + "id": "dineroEvoluci\u00f3n", + "question": "\u00bfCu\u00e1les son algunos elementos que hist\u00f3ricamente se han utilizado como unidad monetaria?", + "text": "Hace miles de a\u00f1os, una sociedad de Micronesia utilizaba piedras muy grandes y escasas como forma de moneda acordada. A partir del siglo XVI, las raras conchas de cauri (que se encuentran en el oc\u00e9ano) se empezaron a utilizar com\u00fanmente en muchas naciones como forma de dinero. Y durante milenios, el oro se ha utilizado como forma de dinero en pa\u00edses de todo el mundo, incluido Estados Unidos (hasta 1971).\n", + "title": "El dinero ha evolucionado, casi desde el principio de los tiempos.", + "type": "Texto" + }, + { + "answers": [ + "Porque tienen caracter\u00edsticas clave, como ser duraderos, uniformes y divisibles.", + "Porque son bonitos y brillantes.", + "Porque caben dentro de tu bolsillo." + ], + "feedback": [ + "Correcto. Otras caracter\u00edsticas clave incluyen ser escasos y port\u00e1tiles.", + "Incorrecto. Puede que sea cierto, pero por s\u00ed solos no son grandes caracter\u00edsticas del dinero.", + "No exactamente. Aunque estos art\u00edculos seguramente eran port\u00e1tiles, esa por s\u00ed sola no era la raz\u00f3n para usarlos como dinero." + ], + "id": "por qu\u00e9PiedrasConchaOro", + "question": "\u00bfPor qu\u00e9 se utilizaron piedras, conchas y oro como unidades monetarias?", + "text": "Bueno, todos estos art\u00edculos ten\u00edan algunas, pero no todas, las caracter\u00edsticas del buen dinero.\n\n\n\nEntonces, \u00bfqu\u00e9 caracter\u00edsticas hacen que el dinero sea \u201cbueno\u201d?\nEscaso: no abundante, ni f\u00e1cil de reproducir o copiar\nAceptado: relativamente f\u00e1cil para las personas verificar su autenticidad.\nDurable: f\u00e1cil de mantener y no se deteriora ni se deshace\nUniforme: f\u00e1cilmente intercambiable con otro elemento de la misma forma.\nPort\u00e1til: f\u00e1cil de transportar\nDivisible: se puede dividir y compartir en partes m\u00e1s peque\u00f1as\n", + "title": "\u00bfPor qu\u00e9 en el pasado se utilizaban com\u00fanmente piedras, conchas y oro como dinero?", + "type": "Texto" + }, + { + "answers": [ + "El dinero permite a las personas comprar bienes y servicios hoy y ma\u00f1ana.", + "El dinero te permite ir a la luna.", + "El dinero es la soluci\u00f3n a todos los problemas." + ], + "feedback": [ + "\u00a1Eso es correcto!", + "Incorrecto. Aunque eso puede cambiar en el futuro ;)", + "No exactamente. Aunque algunas personas puedan creerlo, esta respuesta no aborda el prop\u00f3sito principal del dinero." + ], + "id": "el dinero es importante", + "question": "\u00bfCu\u00e1l es la raz\u00f3n principal por la que el dinero es importante?", + "text": "Todo el mundo sabe que el dinero importa.\n\n\nLa mayor\u00eda de la gente intercambia su tiempo y energ\u00eda \u2013en forma de trabajo\u2013 para obtener dinero. La gente lo hace para poder comprar bienes y servicios hoy y en el futuro.\n", + "title": "El dinero es importante para las personas.", + "type": "Texto" + }, + { + "answers": [ + "El Banco Central de EE.UU. (La Reserva Federal)", + "Se\u00f1or Burns de Los Simpson", + "Un tipo con una imprenta en su s\u00f3tano." + ], + "feedback": [ + "Correcto. El gobierno de Estados Unidos puede imprimir tanto dinero como quiera en cualquier momento.", + "Incorrecto. Aunque parec\u00eda que siempre tuvo mucho dinero.", + "No. Aunque algunas personas crean billetes de d\u00f3lares falsos, \u00a1definitivamente no es legal!" + ], + "id": "dineroImportanteGobierno", + "question": "\u00bfQui\u00e9n puede imprimir d\u00f3lares estadounidenses legalmente en cualquier momento que lo desee?", + "text": "Las econom\u00edas modernas est\u00e1n organizadas por estados-naci\u00f3n: Estados Unidos, Jap\u00f3n, Suiza, Brasil, Noruega, China, etc.\n \n En consecuencia, en casi todos los pa\u00edses, el gobierno tiene el poder de emitir y controlar dinero.\n\n\n En Estados Unidos, el Banco Central (conocido como Reserva Federal o \u201cFed\u201d) puede imprimir o crear m\u00e1s d\u00f3lares estadounidenses en cualquier momento que desee.\n\n\n La \u201cFed\u201d no necesita permiso del Presidente, ni del Congreso, y mucho menos de los ciudadanos estadounidenses.\n\n\n Imag\u00ednese si tuviera la capacidad de imprimir d\u00f3lares estadounidenses en cualquier momento que quisiera, \u00bfqu\u00e9 har\u00eda?\n", + "title": "El dinero tambi\u00e9n es importante para los gobiernos", + "type": "Texto" + } + ], + "meta": { + "id": "\u00bfQu\u00e9 es el dinero?", + "title": "\u00bfQu\u00e9 es el dinero?" + } +} \ No newline at end of file diff --git a/chapter-102-what-is-money/102.01-lesson-money-social-agreement.json b/chapter-102-what-is-money/102.01-lesson-money-social-agreement.json new file mode 100644 index 0000000..328c82d --- /dev/null +++ b/chapter-102-what-is-money/102.01-lesson-money-social-agreement.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Because people trust that other people will value money similarly", + "Because your mother told you so", + "Because a dollar bill is worth its weight in gold" + ], + "feedback": [ + "Correct. This is what allows money to work!", + "She may well have. But that is not the correct answer here!", + "Nope. In the past you could exchange US dollars for gold. But this is no longer the case." + ], + "id": "moneySocialAgreement", + "question": "Why does money have value?", + "text": "Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.\n", + "title": "Money is a social agreement.", + "type": "Text" +} diff --git a/chapter-102-what-is-money/102.02-lesson-coincidence-of-wants.json b/chapter-102-what-is-money/102.02-lesson-coincidence-of-wants.json new file mode 100644 index 0000000..dc94a1f --- /dev/null +++ b/chapter-102-what-is-money/102.02-lesson-coincidence-of-wants.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Coincidence of wants", + "Coincidence of day and night", + "Coincidence of the moon blocking the sun" + ], + "feedback": [ + "That is right. Money allows you to easily purchase something, without haggling about the form of payment", + "No silly, you know that is not the answer.", + "Not quite. We call that a solar eclipse 🌚" + ], + "id": "coincidenceOfWants", + "question": "Which coincidence does money solve?", + "text": "Centuries ago, before people had money, they would barter -- or haggle over how to trade one unique item, in exchange for another item or service. Let’s say you wanted to have a meal at the local restaurant, and offered the owner a broom. The owner might say “no” -- but I will accept three hats instead, if you happen to have them. You can imagine how difficult and inefficient a “barter economy” would be! By contrast, with money, you can simply present a $20 bill. And you know that the restaurant owner will readily accept it.\n", + "title": "Money solves the “coincidence of wants”... What is that??", + "type": "Text" +} diff --git a/chapter-102-what-is-money/102.03-lesson-money-evolution.json b/chapter-102-what-is-money/102.03-lesson-money-evolution.json new file mode 100644 index 0000000..35cf4f3 --- /dev/null +++ b/chapter-102-what-is-money/102.03-lesson-money-evolution.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Stones, seashells and gold", + "Tiny plastic Monopoly board game houses", + "Coins made of chocolate" + ], + "feedback": [ + "Correct. Items that are rare and difficult to copy have often been used as money.", + "Wrong. They may have value when playing a game -- but not in the real world!", + "Nope. They may be tasty. But they are not useful as money." + ], + "id": "moneyEvolution", + "question": "What are some items that have been historically used as a unit of money?", + "text": "Thousands of years ago, a society in Micronesia used very large and scarce stones as a form of agreed currency. Starting in the 1500’s, rare Cowrie shells (found in the ocean) became commonly used in many nations as a form of money. And for millennia, gold has been used as a form of money for countries around the world -- including the United States (until 1971).\n", + "title": "Money has evolved, since almost the beginning of time.", + "type": "Text" +} diff --git a/chapter-102-what-is-money/102.04-lesson-why-stones-shell-gold.json b/chapter-102-what-is-money/102.04-lesson-why-stones-shell-gold.json new file mode 100644 index 0000000..0b98de0 --- /dev/null +++ b/chapter-102-what-is-money/102.04-lesson-why-stones-shell-gold.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Because they have key characteristics -- such as being durable, uniform and divisible.", + "Because they are pretty and shiny.", + "Because they fit inside of your pocket" + ], + "feedback": [ + "Correct. More key characteristics include being scarce and portable.", + "Incorrect. That may be true, but alone are not great characteristics of money.", + "Not quite. Although these items were surely portable, that alone was not the reason to be used as money." + ], + "id": "whyStonesShellGold", + "question": "Why were stones, seashells and gold used as units of money?", + "text": "Well, these items all had some -- but not all -- of the characteristics of good money.\n\n\n\nSo what characteristics make for “good” money?\nScarce: not abundant, nor easy to reproduce or copy\nAccepted: relatively easy for people to verify its authenticity\nDurable: easy to maintain, and does not perish or fall apart\nUniform: readily interchangeable with another item of the same form\nPortable: easy to transport\nDivisible: can be split and shared in smaller pieces\n", + "title": "Why were stones, shells and gold commonly used as money in the past?", + "type": "Text" +} diff --git a/chapter-102-what-is-money/102.05-lesson-money-is-important.json b/chapter-102-what-is-money/102.05-lesson-money-is-important.json new file mode 100644 index 0000000..918f6bf --- /dev/null +++ b/chapter-102-what-is-money/102.05-lesson-money-is-important.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Money allows people to buy goods and services today -- and tomorrow.", + "Money allows you to go to the moon.", + "Money is the solution to all problems." + ], + "feedback": [ + "That is right!", + "Incorrect. Although that may change in the future ;)", + "Not quite. Although some people may believe such, this answer does not address the primary purpose of money." + ], + "id": "moneyIsImportant", + "question": "What is the primary reason money is important?", + "text": "Everybody knows that money matters.\n\n\nMost people exchange their time and energy -- in the form of work -- to obtain money. People do so, to be able to buy goods and services today -- and in the future.\n", + "title": "Money is important to individuals", + "type": "Text" +} diff --git a/chapter-102-what-is-money/102.06-lesson-money-important-governement.json b/chapter-102-what-is-money/102.06-lesson-money-important-governement.json new file mode 100644 index 0000000..6bfe494 --- /dev/null +++ b/chapter-102-what-is-money/102.06-lesson-money-important-governement.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The US Central Bank (The Federal Reserve)", + "Mr Burns from The Simpsons", + "A guy with a printing press in his basement" + ], + "feedback": [ + "Correct. The US Government can print as much money as they want at any time.", + "Incorrect. Although it did seem like he always had a lot of money.", + "No. Whilst some people do create fake dollar bills, it is definitely not legal!" + ], + "id": "moneyImportantGovernement", + "question": "Who can legally print US Dollars, anytime they wish?", + "text": "Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.\n \n Accordingly, in most every nation, the government holds the power to issue and control money.\n\n\n In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.\n\n\n The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\n Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??\n", + "title": "Money is also important to governments", + "type": "Text" +} diff --git a/chapter-103-how-does-money-work/103-combined.json b/chapter-103-how-does-money-work/103-combined.json new file mode 100644 index 0000000..20d9e2f --- /dev/null +++ b/chapter-103-how-does-money-work/103-combined.json @@ -0,0 +1,93 @@ +{ + "content": [ + { + "answers": [ + "They are created by order of the National government in a given country.", + "By the manager of the local branch bank.", + "The Monopoly Money Man." + ], + "feedback": [ + "Correct. The central bank of a government creates fiat currencies.", + "Not quite. While local banks can give out loans based on credit and create money by doing so, they cannot create fiat currencies. Try again.", + "Nope. Try again!" + ], + "id": "WhatIsFiat", + "question": "Who creates fiat currencies, such as US Dollars or Swiss Francs?", + "text": "All national currencies in circulation today are called “fiat” money. This includes US Dollars, Japanese Yen, Swiss Francs, and so forth.\n\n\nThe word “fiat” is latin for “by decree” -- which means “by official order”.\n\n\nThis means that all fiat money -- including the US Dollar -- is simply created by the order of the national government.\n", + "title": "Fiat Currency: What is that?", + "type": "Text" + }, + { + "answers": [ + "All fiat currency is eventually abused by government authorities.", + "Local banks might not have enough vault space to hold all of the dollar bills.", + "There might not be enough trees to make paper for all of the additional dollar bills." + ], + "feedback": [ + "Correct. Throughout history, governments have been unable to resist the ability to print money, as they effectively have no obligation to repay this money.", + "Nope, that is certainly not the case.", + "Wrong. Please try again." + ], + "id": "whyCareAboutFiatMoney", + "question": "Why should I care about the government controlling fiat money?", + "text": "As shared in a prior quiz, the US Central Bank is the Federal Reserve, or the “Fed”.\n\n\nThe Fed can print more dollars at any time -- and does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\nHaving control of money can be very tempting for authorities to abuse -- and often time leads to massive inflation, arbitrary confiscation and corruption.\n\n\nIn fact, Alan Greenspan, the famous former chairman of The Fed, famously said the US “can pay any debt that it has, because we can always print more to do that”.\n", + "title": "I trust my government. Why should I care about fiat money?", + "type": "Text" + }, + { + "answers": [ + "The printing of additional money leads to inflation.", + "People must exchange old dollar bills at the bank every year.", + "The appearance of the dollar bill changes." + ], + "feedback": [ + "Correct. This means that goods and services will cost more in the future.", + "Nope. Older dollar bills are just as valid as newer ones.", + "Incorrect. Although the government may issue new looks for bills, this has nothing to do with increasing the money supply." + ], + "id": "GovernementCanPrintMoney", + "question": "What does it mean when the government prints money?", + "text": "Well, everybody should care!\n\n\nThe practice of government printing money -- or increasing the supply of dollars -- leads to inflation.\n\n\nInflation is an increase in the price of goods and services. In other words, the price for something in the future will be more expensive than today.\n\n\nSo what does inflation mean for citizens?\n\n\nIn the United Kingdom, the Pound Sterling has lost 99.5% of its value since being introduced over 300 years ago.\n\n\nIn the United States, the dollar has lost 97% of its value since the end of WWI, about 100 years ago.\n\n\nThis means a steak that cost $0.30 in 1920... was $3 in 1990… and about $15 today, in the year 2020!\n", + "title": "Who should care that the government can print unlimited money?", + "type": "Text" + }, + { + "answers": [ + "Every fiat currency that ever existed has lost a massive amount of value.", + "The value stays the same forever.", + "The look and design of paper bills is updated every 10 years or so." + ], + "feedback": [ + "Correct. This is true even for USD, which has lost 97% of its value during the last 100 years.", + "Incorrect. Please try again.", + "Not quite. Although the design of papers bills may change, this has nothing to do with their value." + ], + "id": "FiatLosesValueOverTime", + "question": "What happens to the value of all fiat money over time?", + "text": "That is correct.\n\n\nIn the history of the world, there have been 775 fiat currencies created. Most no longer exist, and the average life for any fiat money is only 27 years.\n\n\nThe British Pound is the oldest fiat currency. It has lost more than 99% of its value since 1694.\n\n\nThere is no precedent for any fiat money maintaining its value over time. This is inflation.\nIt is effectively a form of theft of your own hard earned money !\n", + "title": "Does this mean that all fiat money loses value over time?", + "type": "Text" + }, + { + "answers": [ + "Money is difficult to move around the world, and can also be surveilled.", + "Money is no longer needed in the 21st Century.", + "Money is the root of all evil." + ], + "feedback": [ + "Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!", + "Wrong answer. You know that is not true.", + "While some may believe this to be so, it is not the answer we are looking for here." + ], + "id": "OtherIssues", + "question": "What are some other issues that exist with fiat money?", + "text": "Yes, there are many other issues that exist with modern fiat money.\n\n\nFirst, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.\n\n\nSecond, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.\n\n\nEver notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.\n", + "title": "OK, fiat money loses value over time. Are there other issues?", + "type": "Text" + } + ], + "meta": { + "id": "HowDoesMoneyWork?", + "title": "How Does Money Work?" + } +} diff --git a/chapter-103-how-does-money-work/103-es-combined.json b/chapter-103-how-does-money-work/103-es-combined.json new file mode 100644 index 0000000..8cc873c --- /dev/null +++ b/chapter-103-how-does-money-work/103-es-combined.json @@ -0,0 +1,93 @@ +{ + "content": [ + { + "answers": [ + "Se crean por orden del gobierno Nacional de un pa\u00eds determinado.", + "Por el gerente de la sucursal bancaria local.", + "El hombre del dinero del monopolio." + ], + "feedback": [ + "Correcto. El banco central de un gobierno crea monedas fiduciarias.", + "No exactamente. Si bien los bancos locales pueden otorgar pr\u00e9stamos basados en cr\u00e9dito y generar dinero al hacerlo, no pueden crear monedas fiduciarias. Intentar otra vez.", + "No. \u00a1Intentar otra vez!" + ], + "id": "\u00bfQu\u00e9 es Fiat?", + "question": "\u00bfQui\u00e9n crea monedas fiduciarias, como d\u00f3lares estadounidenses o francos suizos?", + "text": "Todas las monedas nacionales que circulan hoy en d\u00eda se denominan dinero \"fiduciario\". Esto incluye d\u00f3lares estadounidenses, yenes japoneses, francos suizos, etc.\n\n\nLa palabra \"fiat\" en lat\u00edn significa \"por decreto\", que significa \"por orden oficial\".\n\n\nEsto significa que todo el dinero fiduciario, incluido el d\u00f3lar estadounidense, se crea simplemente por orden del gobierno nacional.\n", + "title": "Moneda fiduciaria: \u00bfqu\u00e9 es eso?", + "type": "Texto" + }, + { + "answers": [ + "Las autoridades gubernamentales eventualmente abusan de toda moneda fiduciaria.", + "Es posible que los bancos locales no tengan suficiente espacio en b\u00f3veda para guardar todos los billetes de un d\u00f3lar.", + "Puede que no haya suficientes \u00e1rboles para fabricar papel para todos los billetes de un d\u00f3lar adicionales." + ], + "feedback": [ + "Correcto. A lo largo de la historia, los gobiernos no han podido resistirse a la posibilidad de imprimir dinero, ya que en la pr\u00e1ctica no tienen obligaci\u00f3n de devolver ese dinero.", + "No, ciertamente ese no es el caso.", + "Equivocado. Int\u00e9ntalo de nuevo." + ], + "id": "por qu\u00e9Preocuparse por el dinero fiat", + "question": "\u00bfPor qu\u00e9 deber\u00eda preocuparme que el gobierno controle el dinero fiduciario?", + "text": "Como se comparti\u00f3 en un cuestionario anterior, el Banco Central de EE. UU. es la Reserva Federal o la \u201cFed\u201d.\n\n\nLa Reserva Federal puede imprimir m\u00e1s d\u00f3lares en cualquier momento, y no necesita permiso del Presidente, ni del Congreso, y mucho menos de los ciudadanos estadounidenses.\n\n\nTener el control del dinero puede ser muy tentador para que las autoridades abusen de \u00e9l y, a menudo, el tiempo conduce a una inflaci\u00f3n masiva, confiscaciones arbitrarias y corrupci\u00f3n.\n\n\nDe hecho, Alan Greenspan, el famoso ex presidente de la Reserva Federal, dijo que Estados Unidos \u201cpuede pagar cualquier deuda que tenga, porque siempre podemos imprimir m\u00e1s para hacerlo\u201d.\n", + "title": "Conf\u00edo en mi gobierno. \u00bfPor qu\u00e9 deber\u00eda preocuparme por el dinero fiduciario?", + "type": "Texto" + }, + { + "answers": [ + "La impresi\u00f3n de dinero adicional conduce a la inflaci\u00f3n.", + "La gente debe cambiar billetes viejos de d\u00f3lares en el banco todos los a\u00f1os.", + "La apariencia del billete de un d\u00f3lar cambia." + ], + "feedback": [ + "Correcto. Esto significa que los bienes y servicios costar\u00e1n m\u00e1s en el futuro.", + "No. Los billetes de un d\u00f3lar m\u00e1s antiguos son tan v\u00e1lidos como los m\u00e1s nuevos.", + "Incorrecto. Aunque el gobierno puede emitir nuevos tipos de billetes, esto no tiene nada que ver con aumentar la oferta monetaria." + ], + "id": "GobiernoPuedeImprimirDinero", + "question": "\u00bfQu\u00e9 significa cuando el gobierno imprime dinero?", + "text": "Bueno, \u00a1a todos deber\u00eda importarles!\n\n\nLa pr\u00e1ctica de que el gobierno imprima dinero (o aumente la oferta de d\u00f3lares) conduce a la inflaci\u00f3n.\n\n\nLa inflaci\u00f3n es un aumento en el precio de bienes y servicios. En otras palabras, el precio de algo en el futuro ser\u00e1 m\u00e1s caro que hoy.\n\n\nEntonces, \u00bfqu\u00e9 significa la inflaci\u00f3n para los ciudadanos?\n\n\nEn el Reino Unido, la libra esterlina ha perdido el 99,5% de su valor desde su introducci\u00f3n hace m\u00e1s de 300 a\u00f1os.\n\n\nEn Estados Unidos, el d\u00f3lar ha perdido el 97% de su valor desde el final de la Primera Guerra Mundial, hace unos 100 a\u00f1os.\n\n\nEsto significa que un filete que costaba $0,30 en 1920... costaba $3 en 1990... \u00a1y alrededor de $15 hoy, en el a\u00f1o 2020!\n", + "title": "\u00bfA qui\u00e9n deber\u00eda importarle que el gobierno pueda imprimir dinero ilimitado?", + "type": "Texto" + }, + { + "answers": [ + "Cada moneda fiduciaria que alguna vez existi\u00f3 ha perdido una enorme cantidad de valor.", + "El valor sigue siendo el mismo para siempre.", + "La apariencia y el dise\u00f1o de las facturas en papel se actualizan aproximadamente cada 10 a\u00f1os." + ], + "feedback": [ + "Correcto. Esto es v\u00e1lido incluso para el d\u00f3lar, que ha perdido el 97% de su valor durante los \u00faltimos 100 a\u00f1os.", + "Incorrecto. Int\u00e9ntalo de nuevo.", + "No exactamente. Aunque el dise\u00f1o de los billetes en papel puede cambiar, esto no tiene nada que ver con su valor." + ], + "id": "Fiat pierde valor con el tiempo", + "question": "\u00bfQu\u00e9 sucede con el valor de todo el dinero fiduciario con el tiempo?", + "text": "Eso es correcto.\n\n\nEn la historia del mundo, se han creado 775 monedas fiduciarias. La mayor\u00eda ya no existe y la vida media de cualquier dinero fiduciario es de s\u00f3lo 27 a\u00f1os.\n\n\nLa libra esterlina es la moneda fiduciaria m\u00e1s antigua. Ha perdido m\u00e1s del 99% de su valor desde 1694.\n\n\nNo existe ning\u00fan precedente de que el dinero fiduciario mantenga su valor a lo largo del tiempo. Esto es inflaci\u00f3n.\n\u00a1Es efectivamente una forma de robo del dinero que tanto le cost\u00f3 ganar!\n", + "title": "\u00bfSignifica esto que todo el dinero fiduciario pierde valor con el tiempo?", + "type": "Texto" + }, + { + "answers": [ + "El dinero es dif\u00edcil de mover por el mundo y, adem\u00e1s, puede ser vigilado.", + "El dinero ya no es necesario en el siglo XXI.", + "El dinero es la ra\u00edz del mal." + ], + "feedback": [ + "Correcto. Explicaremos m\u00e1s sobre estos temas en m\u00f3dulos de prueba posteriores. \u00a1\u00a1Sigue cavando!!", + "Respuesta incorrecta. Sabes que eso no es cierto.", + "Si bien algunos pueden creer que esto es as\u00ed, no es la respuesta que buscamos aqu\u00ed." + ], + "id": "Otros asuntos", + "question": "\u00bfCu\u00e1les son algunos otros problemas que existen con el dinero fiduciario?", + "text": "S\u00ed, existen muchos otros problemas con el dinero fiduciario moderno.\n\n\nEn primer lugar, puede resultar extremadamente dif\u00edcil mover dinero por todo el mundo. A menudo, los gobiernos restringen abiertamente el movimiento (y en ocasiones incluso confiscan dinero) sin una raz\u00f3n o explicaci\u00f3n v\u00e1lida. E incluso cuando puedes enviar dinero, las altas tarifas de transacci\u00f3n lo hacen muy costoso.\n\n\nEn segundo lugar, incluso en Estados Unidos ha habido una p\u00e9rdida total de privacidad, ya que la mayor parte del comercio se realiza con tarjetas de d\u00e9bito y cr\u00e9dito, as\u00ed como en l\u00ednea con otros sistemas como PayPal y Apple Pay.\n\n\n\u00bfAlguna vez has notado c\u00f3mo aparece un anuncio en tus redes sociales o Gmail momentos despu\u00e9s de buscar un determinado producto o servicio? Esto se conoce como \u201ccapitalismo de vigilancia\u201d y se basa en empresas que venden sus datos financieros personales.\n", + "title": "Bien, el dinero fiduciario pierde valor con el tiempo. \u00bfHay otros problemas?", + "type": "Texto" + } + ], + "meta": { + "id": "\u00bfC\u00f3mo funciona el dinero?", + "title": "\u00bfC\u00f3mo funciona el dinero?" + } +} \ No newline at end of file diff --git a/chapter-103-how-does-money-work/103.01-lesson-what-is-fiat.json b/chapter-103-how-does-money-work/103.01-lesson-what-is-fiat.json new file mode 100644 index 0000000..3478231 --- /dev/null +++ b/chapter-103-how-does-money-work/103.01-lesson-what-is-fiat.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "They are created by order of the National government in a given country.", + "By the manager of the local branch bank.", + "The Monopoly Money Man." + ], + "feedback": [ + "Correct. The central bank of a government creates fiat currencies.", + "Not quite. While local banks can give out loans based on credit and create money by doing so, they cannot create fiat currencies. Try again.", + "Nope. Try again!" + ], + "id": "WhatIsFiat", + "question": "Who creates fiat currencies, such as US Dollars or Swiss Francs?", + "text": "All national currencies in circulation today are called “fiat” money. This includes US Dollars, Japanese Yen, Swiss Francs, and so forth.\n\n\nThe word “fiat” is latin for “by decree” -- which means “by official order”.\n\n\nThis means that all fiat money -- including the US Dollar -- is simply created by the order of the national government.\n", + "title": "Fiat Currency: What is that?", + "type": "Text" +} diff --git a/chapter-103-how-does-money-work/103.02-lesson-why-care-about-fiat-money.json b/chapter-103-how-does-money-work/103.02-lesson-why-care-about-fiat-money.json new file mode 100644 index 0000000..2b75399 --- /dev/null +++ b/chapter-103-how-does-money-work/103.02-lesson-why-care-about-fiat-money.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "All fiat currency is eventually abused by government authorities.", + "Local banks might not have enough vault space to hold all of the dollar bills.", + "There might not be enough trees to make paper for all of the additional dollar bills." + ], + "feedback": [ + "Correct. Throughout history, governments have been unable to resist the ability to print money, as they effectively have no obligation to repay this money.", + "Nope, that is certainly not the case.", + "Wrong. Please try again." + ], + "id": "whyCareAboutFiatMoney", + "question": "Why should I care about the government controlling fiat money?", + "text": "As shared in a prior quiz, the US Central Bank is the Federal Reserve, or the “Fed”.\n\n\nThe Fed can print more dollars at any time -- and does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\nHaving control of money can be very tempting for authorities to abuse -- and often time leads to massive inflation, arbitrary confiscation and corruption.\n\n\nIn fact, Alan Greenspan, the famous former chairman of The Fed, famously said the US “can pay any debt that it has, because we can always print more to do that”.\n", + "title": "I trust my government. Why should I care about fiat money?", + "type": "Text" +} diff --git a/chapter-103-how-does-money-work/103.03-lesson-governement-can-print-money.json b/chapter-103-how-does-money-work/103.03-lesson-governement-can-print-money.json new file mode 100644 index 0000000..64fd978 --- /dev/null +++ b/chapter-103-how-does-money-work/103.03-lesson-governement-can-print-money.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The printing of additional money leads to inflation.", + "People must exchange old dollar bills at the bank every year.", + "The appearance of the dollar bill changes." + ], + "feedback": [ + "Correct. This means that goods and services will cost more in the future.", + "Nope. Older dollar bills are just as valid as newer ones.", + "Incorrect. Although the government may issue new looks for bills, this has nothing to do with increasing the money supply." + ], + "id": "GovernementCanPrintMoney", + "question": "What does it mean when the government prints money?", + "text": "Well, everybody should care!\n\n\nThe practice of government printing money -- or increasing the supply of dollars -- leads to inflation.\n\n\nInflation is an increase in the price of goods and services. In other words, the price for something in the future will be more expensive than today.\n\n\nSo what does inflation mean for citizens?\n\n\nIn the United Kingdom, the Pound Sterling has lost 99.5% of its value since being introduced over 300 years ago.\n\n\nIn the United States, the dollar has lost 97% of its value since the end of WWI, about 100 years ago.\n\n\nThis means a steak that cost $0.30 in 1920... was $3 in 1990… and about $15 today, in the year 2020!\n", + "title": "Who should care that the government can print unlimited money?", + "type": "Text" +} diff --git a/chapter-103-how-does-money-work/103.04-lesson-fiat-loses-value-over-time.json b/chapter-103-how-does-money-work/103.04-lesson-fiat-loses-value-over-time.json new file mode 100644 index 0000000..10e6489 --- /dev/null +++ b/chapter-103-how-does-money-work/103.04-lesson-fiat-loses-value-over-time.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Every fiat currency that ever existed has lost a massive amount of value.", + "The value stays the same forever.", + "The look and design of paper bills is updated every 10 years or so." + ], + "feedback": [ + "Correct. This is true even for USD, which has lost 97% of its value during the last 100 years.", + "Incorrect. Please try again.", + "Not quite. Although the design of papers bills may change, this has nothing to do with their value." + ], + "id": "FiatLosesValueOverTime", + "question": "What happens to the value of all fiat money over time?", + "text": "That is correct.\n\n\nIn the history of the world, there have been 775 fiat currencies created. Most no longer exist, and the average life for any fiat money is only 27 years.\n\n\nThe British Pound is the oldest fiat currency. It has lost more than 99% of its value since 1694.\n\n\nThere is no precedent for any fiat money maintaining its value over time. This is inflation.\nIt is effectively a form of theft of your own hard earned money !\n", + "title": "Does this mean that all fiat money loses value over time?", + "type": "Text" +} diff --git a/chapter-103-how-does-money-work/103.05-lesson-other-issues.json b/chapter-103-how-does-money-work/103.05-lesson-other-issues.json new file mode 100644 index 0000000..152bdbd --- /dev/null +++ b/chapter-103-how-does-money-work/103.05-lesson-other-issues.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Money is difficult to move around the world, and can also be surveilled.", + "Money is no longer needed in the 21st Century.", + "Money is the root of all evil." + ], + "feedback": [ + "Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!", + "Wrong answer. You know that is not true.", + "While some may believe this to be so, it is not the answer we are looking for here." + ], + "id": "OtherIssues", + "question": "What are some other issues that exist with fiat money?", + "text": "Yes, there are many other issues that exist with modern fiat money.\n\n\nFirst, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.\n\n\nSecond, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.\n\n\nEver notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.\n", + "title": "OK, fiat money loses value over time. Are there other issues?", + "type": "Text" +} diff --git a/chapter-104-bitcoin-why-is-it-special/104-combined.json b/chapter-104-bitcoin-why-is-it-special/104-combined.json new file mode 100644 index 0000000..50ccfad --- /dev/null +++ b/chapter-104-bitcoin-why-is-it-special/104-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "Yes. There can never be more than 21 million bitcoin created.", + "No. The government can create more bitcoin at any time.", + "No, the bitcoin software can be changed to allow more bitcoins to be created." + ], + "feedback": [ + "Correct. By limiting the amount that can be created, Bitcoin is designed to increase in value over time.", + "Wrong answer. The government has no control over Bitcoin.", + "Incorrect. One of the key attributes of bitcoin is that the supply is limited forever." + ], + "id": "LimitedSupply", + "question": "Is the supply of bitcoin limited forever?", + "text": "Governments can print fiat money in unlimited quantities.\n\n\nBy way of contrast, the supply of Bitcoin is fixed — and can never exceed 21 million coins.\n\n\nA continually increasing supply of fiat money creates inflation. This means that the money you hold today is less valuable in the future.\n\nOne simple example:\nA loaf of bread that cost about 8 cents in 1920. In the year 1990 one loaf cost about $1.00, and today the price is closer to $2.50 !\n\n\nThe limited supply of bitcoin has the opposite effect, one of deflation.\n\n\nThis means that the bitcoin you hold today is designed to be more valuable in the future — because it is scarce.\n", + "title": "Special Characteristic", + "type": "Text" + }, + { + "answers": [ + "No. Bitcoin is completely “decentralized”.", + "Yes. It is centrally controlled by the United Nations.", + "Yes. It is centrally controlled by the world’s largest banks." + ], + "feedback": [ + "That is correct. There is no company, government or institution that controls bitcoin. Anyone can use bitcoin — all need is a smartphone and an internet connection.", + "Wrong answer. Please try again.", + "Incorrect. You already know this is not true!" + ], + "id": "Decentralized", + "question": "Is bitcoin centralized?", + "text": "Fiat money is controlled by banks and governments — which is why people refer to it as a “centralized” currency.\n\nBitcoin is not controlled by any person, government or company — which makes it “decentralized”\n\nNot having banks involved means that nobody can deny you access to bitcoin — because of race, gender, income, credit history, geographical location — or any other factor.\n\nAnybody — anywhere in the world — can access and use Bitcoin anytime you want. All you need is a computer or smartphone, and an internet connection. In fact, even a feature phone with no internet can utilize Bitcoin with services like Machankura!\n", + "title": "Special Characteristic", + "type": "Text" + }, + { + "answers": [ + "No. It is impossible to counterfeit Bitcoin.", + "Yes. Although creating fake bitcoin requires very specialized computers.", + "Yes. The govrenment can print as much bitcoin as it likes." + ], + "feedback": [ + "counterfeit Bitcoin.", + "Incorrect. There is no way for anyone to copy or duplicate the value of a bitcoin.", + "Wrong. Although the government can print unlimited dollars, it can not print bitcoin." + ], + "id": "NoCounterfeitMoney", + "question": "Can people counterfeit Bitcoin?", + "text": "Paper money, checks and credit card transactions can all be counterfeit, or faked.\n\nThe unique software that runs the Bitcoin network eliminates the possibility of duplicating money for counterfeit purposes.\n\nNew bitcoin can only be issued if there is agreement amongst the participants in the network. People who are voluntarily running bitcoin software on their own computers and smartphones.\n\nThis ensures that it is impossible to counterfeit, or create fake bitcoins.\n", + "title": "Special Characteristic", + "type": "Text" + }, + { + "answers": [ + "0.00000001 BTC", + "One whole bitcoin. It is not possible to use anything less.", + "0.01 BTC" + ], + "feedback": [ + "Yes. You can divide a bitcoin into 100,000,000 pieces. As you already know, the smallest unit of bitcoin — B0.00000001 — is known as a “sat”.", + "Wrong. Bitcoin is highly divisible. You can easily use a very small fraction of a bitcoin.", + "Incorrect. Although the smallest unit of US currency is one penny, a bitcoin is divisible by much more than 100x." + ], + "id": "HighlyDivisible", + "question": "What is the smallest amount of Bitcoin one can own, or use?", + "text": "Old-fashioned fiat money can only be spent in amounts as small as one penny — or two decimal places for one US Dollar ($0.01).\n\nOn the other hand, Bitcoin can be divided 100,000,000 times over. This means that you could spend as little as ₿0.00000001. You will note the \"\"₿\"\" symbol, which is the Bitcoin equivalent of \"\"$\"\". Sometimes you will also see the use of BTC, instead of ₿.\n\nBy way of contrast, Bitcoin can handle very small payments — even those less than one US penny!\n", + "title": "Special Characteristic", + "type": "Text" + }, + { + "answers": [ + "Yes. The bitcoin network is very secure.", + "Maybe. It depends on the day of the week.", + "bitcoin network is safe and secure — 24 hours a day, 365 days a year." + ], + "feedback": [ + "Correct. In fact, the Bitcoin network has never once been hacked. Answer the next question to learn more!", + "Nice try, but wrong. The bitcoin network is safe and secure — 24 hours a day, 365 days a year.", + "Incorrect. Although bitcoin is indeed “open source” software — or available to the public for free — is still extremely secure." + ], + "id": "securePartOne", + "question": "Is the Bitcoin network secure?", + "text": "The bitcoin network is worth well over $100 billion today. Accordingly, the network must be very secure — so that money is never stolen.\n\n\nBitcoin is known as the world’s first cryptocurrency.\n\n\nThe “crypto” part of the name comes from cryptography. Simply put, cryptography protects information through very complex math functions.\n\n\nMost people do not realize — but Bitcoin is actually the most secure computer network in the world !\n\n\n(you may have heard about bitcoin “hacks” — which we will debunk in the next quiz)\n", + "title": "Special Characteristic", + "type": "Text" + }, + { + "answers": [ + "No. Bitcoin has never been hacked.", + "Yes. Bitcoin gets hacked frequently.", + "Yes. Bitcoin usually gets hacked on holidays, when traditional banks are closed." + ], + "feedback": [ + "That is correct. The bitcoin network has never been compromised. However, it is important to make you use secure digital wallet (such as Galoy!) to keep your personal bitcoins safe at all times.", + "Wrong. Please try again.", + "No silly, you know that is not the correct answer." + ], + "id": "securePartTwo", + "question": "Has Bitcoin ever been hacked?", + "text": "To be direct: the bitcoin network itself has never been hacked. Never once.\n\n\n Then what exactly has been hacked?\n\n\n Certain digital wallets that did not have proper security in place.\n\n\n Just like a physical wallet holds fiat currency (in the form of paper bills), digital wallets hold some amount of bitcoin.\n\n\n In the physical world, criminals rob banks — and walk away with US Dollars. The fact that someone robbed a bank does not have any relationship as to whether the US Dollar is stable or reliable money.\n\n\n Similarly, some computer hackers have stolen bitcoin from insecure digital wallets — the online equivalent of a bank robbery.\n\n\n However, it is important to know that the bitcoin network has never been hacked or compromised !\n", + "title": "Special Characteristic", + "type": "Text" + } + ], + "meta": { + "id": "Bitcoin:Whyisitspecial?", + "title": "Bitcoin: Why is it special?" + } +} diff --git a/chapter-104-bitcoin-why-is-it-special/104-es-combined.json b/chapter-104-bitcoin-why-is-it-special/104-es-combined.json new file mode 100644 index 0000000..c578150 --- /dev/null +++ b/chapter-104-bitcoin-why-is-it-special/104-es-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "S\u00ed. Nunca se pueden crear m\u00e1s de 21 millones de bitcoins.", + "No. El gobierno puede crear m\u00e1s bitcoins en cualquier momento.", + "No, el software bitcoin se puede cambiar para permitir la creaci\u00f3n de m\u00e1s bitcoins." + ], + "feedback": [ + "Correcto. Al limitar la cantidad que se puede crear, Bitcoin est\u00e1 dise\u00f1ado para aumentar su valor con el tiempo.", + "Respuesta incorrecta. El gobierno no tiene control sobre Bitcoin.", + "Incorrecto. Uno de los atributos clave de bitcoin es que la oferta es limitada para siempre." + ], + "id": "Recursos limitados", + "question": "\u00bfEl suministro de bitcoins est\u00e1 limitado para siempre?", + "text": "Los gobiernos pueden imprimir dinero fiduciario en cantidades ilimitadas.\n\n\nPor el contrario, la oferta de Bitcoin es fija y nunca puede exceder los 21 millones de monedas.\n\n\nUna oferta cada vez mayor de dinero fiduciario genera inflaci\u00f3n. Esto significa que el dinero que tienes hoy tendr\u00e1 menos valor en el futuro.\n\nUn ejemplo sencillo:\nUna barra de pan que costaba alrededor de 8 centavos en 1920. En el a\u00f1o 1990, una barra costaba alrededor de $1,00, \u00a1y hoy el precio se acerca m\u00e1s a $2,50!\n\n\nLa oferta limitada de bitcoin tiene el efecto contrario: deflaci\u00f3n.\n\n\nEsto significa que el bitcoin que tienes hoy est\u00e1 dise\u00f1ado para ser m\u00e1s valioso en el futuro, porque es escaso.\n", + "title": "Caracter\u00edstica especial", + "type": "Texto" + }, + { + "answers": [ + "No. Bitcoin est\u00e1 completamente \"descentralizado\".", + "S\u00ed. Est\u00e1 controlado centralmente por las Naciones Unidas.", + "S\u00ed. Est\u00e1 controlado centralmente por los bancos m\u00e1s grandes del mundo." + ], + "feedback": [ + "Eso es correcto. No existe ninguna empresa, gobierno o instituci\u00f3n que controle bitcoin. Cualquiera puede usar bitcoin: todo lo que necesita es un tel\u00e9fono inteligente y una conexi\u00f3n a Internet.", + "Respuesta incorrecta. Int\u00e9ntalo de nuevo.", + "Incorrecto. \u00a1Ya sabes que esto no es cierto!" + ], + "id": "Descentralizado", + "question": "\u00bfBitcoin est\u00e1 centralizado?", + "text": "El dinero fiduciario est\u00e1 controlado por bancos y gobiernos, raz\u00f3n por la cual la gente se refiere a \u00e9l como moneda \u201ccentralizada\u201d.\n\nBitcoin no est\u00e1 controlado por ninguna persona, gobierno o empresa, lo que lo hace \"descentralizado\"\n\nNo tener bancos involucrados significa que nadie puede negarle el acceso a bitcoin (por motivos de raza, g\u00e9nero, ingresos, historial crediticio, ubicaci\u00f3n geogr\u00e1fica) o cualquier otro factor.\n\nCualquier persona, en cualquier parte del mundo, puede acceder y utilizar Bitcoin en cualquier momento que desee. Todo lo que necesitas es una computadora o tel\u00e9fono inteligente y una conexi\u00f3n a Internet. De hecho, \u00a1incluso un tel\u00e9fono b\u00e1sico sin Internet puede utilizar Bitcoin con servicios como Machankura!\n", + "title": "Caracter\u00edstica especial", + "type": "Texto" + }, + { + "answers": [ + "No. Es imposible falsificar Bitcoin.", + "S\u00ed. Aunque crear bitcoins falsos requiere computadoras muy especializadas.", + "S\u00ed. El gobierno puede imprimir tantos bitcoins como quiera." + ], + "feedback": [ + "Bitcoin falso.", + "Incorrecto. Nadie puede copiar o duplicar el valor de un bitcoin.", + "Equivocado. Aunque el gobierno puede imprimir d\u00f3lares ilimitados, no puede imprimir bitcoins." + ], + "id": "NoDineroFalsificado", + "question": "\u00bfPuede la gente falsificar Bitcoin?", + "text": "Los billetes, los cheques y las transacciones con tarjetas de cr\u00e9dito pueden ser falsificados o falsificados.\n\nEl software \u00fanico que ejecuta la red Bitcoin elimina la posibilidad de duplicar dinero con fines falsificados.\n\nS\u00f3lo se pueden emitir nuevos bitcoins si existe un acuerdo entre los participantes de la red. Personas que ejecutan voluntariamente software bitcoin en sus propias computadoras y tel\u00e9fonos inteligentes.\n\nEsto garantiza que sea imposible falsificar o crear bitcoins falsos.\n", + "title": "Caracter\u00edstica especial", + "type": "Texto" + }, + { + "answers": [ + "0.00000001 BTC", + "Un bitcoin completo. No es posible utilizar nada menos.", + "0.01 BTC" + ], + "feedback": [ + "S\u00ed. Puedes dividir un bitcoin en 100.000.000 de partes. Como ya sabes, la unidad m\u00e1s peque\u00f1a de bitcoin, B0.00000001, se conoce como \"sat\".", + "Equivocado. Bitcoin es altamente divisible. Puedes utilizar f\u00e1cilmente una fracci\u00f3n muy peque\u00f1a de un bitcoin.", + "Incorrecto. Aunque la unidad m\u00e1s peque\u00f1a de la moneda estadounidense es un centavo, un bitcoin es divisible por mucho m\u00e1s de 100x." + ], + "id": "Altamente divisible", + "question": "\u00bfCu\u00e1l es la cantidad m\u00e1s peque\u00f1a de Bitcoin que uno puede poseer o utilizar?", + "text": "El dinero fiduciario antiguo s\u00f3lo se puede gastar en cantidades tan peque\u00f1as como un centavo, o dos decimales por un d\u00f3lar estadounidense (0,01 d\u00f3lares).\n\nPor otro lado, Bitcoin se puede dividir 100.000.000 de veces. Esto significa que podr\u00edas gastar tan solo 0,00000001 \u20bf. Notar\u00e1s el s\u00edmbolo \"\"\u20bf\"\", que es el equivalente en Bitcoin de \"\"$\"\". A veces tambi\u00e9n ver\u00e1s el uso de BTC, en lugar de \u20bf.\n\nPor el contrario, Bitcoin puede manejar pagos muy peque\u00f1os, \u00a1incluso aquellos de menos de un centavo estadounidense!\n", + "title": "Caracter\u00edstica especial", + "type": "Texto" + }, + { + "answers": [ + "S\u00ed. La red bitcoin es muy segura.", + "Tal vez. Depende del d\u00eda de la semana.", + "La red bitcoin es segura y protegida, las 24 horas del d\u00eda, los 365 d\u00edas del a\u00f1o." + ], + "feedback": [ + "Correcto. De hecho, la red Bitcoin nunca ha sido pirateada. \u00a1Responda la siguiente pregunta para obtener m\u00e1s informaci\u00f3n!", + "Buen intento, pero equivocado. La red bitcoin es segura: las 24 horas del d\u00eda, los 365 d\u00edas del a\u00f1o.", + "Incorrecto. Aunque Bitcoin es en realidad un software de \u201cc\u00f3digo abierto\u201d (o est\u00e1 disponible para el p\u00fablico de forma gratuita), sigue siendo extremadamente seguro." + ], + "id": "Parte uno segura", + "question": "\u00bfEs segura la red Bitcoin?", + "text": "La red bitcoin vale hoy m\u00e1s de 100 mil millones de d\u00f3lares. En consecuencia, la red debe ser muy segura, para que nunca se robe dinero.\n\n\nBitcoin es conocida como la primera criptomoneda del mundo.\n\n\nLa parte \"cripto\" del nombre proviene de la criptograf\u00eda. En pocas palabras, la criptograf\u00eda protege la informaci\u00f3n mediante funciones matem\u00e1ticas muy complejas.\n\n\nLa mayor\u00eda de la gente no se da cuenta, \u00a1pero Bitcoin es en realidad la red inform\u00e1tica m\u00e1s segura del mundo!\n\n\n(Es posible que haya o\u00eddo hablar de los \u201ctrucos\u201d de Bitcoin, que desacreditaremos en el pr\u00f3ximo cuestionario)\n", + "title": "Caracter\u00edstica especial", + "type": "Texto" + }, + { + "answers": [ + "No. Bitcoin nunca ha sido pirateado.", + "S\u00ed. Bitcoin es pirateado con frecuencia.", + "S\u00ed. Bitcoin suele ser pirateado durante los d\u00edas festivos, cuando los bancos tradicionales est\u00e1n cerrados." + ], + "feedback": [ + "Eso es correcto. La red bitcoin nunca se ha visto comprometida. Sin embargo, es importante que utilice una billetera digital segura (como Galoy) para mantener sus bitcoins personales seguros en todo momento.", + "Equivocado. Int\u00e9ntalo de nuevo.", + "No tonto, sabes que esa no es la respuesta correcta." + ], + "id": "seguraParteDos", + "question": "\u00bfBitcoin ha sido pirateado alguna vez?", + "text": "Para ser directo: la red bitcoin en s\u00ed nunca ha sido pirateada. Ni una sola vez.\n\n\n Entonces, \u00bfqu\u00e9 es exactamente lo que se ha pirateado?\n\n\n Ciertas billeteras digitales que no contaban con la seguridad adecuada.\n\n\n Al igual que una billetera f\u00edsica contiene moneda fiduciaria (en forma de billetes de papel), las billeteras digitales contienen una cierta cantidad de bitcoins.\n\n\n En el mundo f\u00edsico, los delincuentes roban bancos y se llevan d\u00f3lares estadounidenses. El hecho de que alguien haya robado un banco no tiene ninguna relaci\u00f3n con si el d\u00f3lar estadounidense es dinero estable o confiable.\n\n\n De manera similar, algunos piratas inform\u00e1ticos han robado bitcoins de billeteras digitales inseguras, el equivalente en l\u00ednea de un robo a un banco.\n\n\n Sin embargo, es importante saber que la red bitcoin nunca ha sido pirateada ni comprometida.\n", + "title": "Caracter\u00edstica especial", + "type": "Texto" + } + ], + "meta": { + "id": "Bitcoin: \u00bfPor qu\u00e9 es especial?", + "title": "Bitcoin: \u00bfPor qu\u00e9 es especial?" + } +} \ No newline at end of file diff --git a/chapter-104-bitcoin-why-is-it-special/104.01-lesson-limited-supply.json b/chapter-104-bitcoin-why-is-it-special/104.01-lesson-limited-supply.json new file mode 100644 index 0000000..67057a2 --- /dev/null +++ b/chapter-104-bitcoin-why-is-it-special/104.01-lesson-limited-supply.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Yes. There can never be more than 21 million bitcoin created.", + "No. The government can create more bitcoin at any time.", + "No, the bitcoin software can be changed to allow more bitcoins to be created." + ], + "feedback": [ + "Correct. By limiting the amount that can be created, Bitcoin is designed to increase in value over time.", + "Wrong answer. The government has no control over Bitcoin.", + "Incorrect. One of the key attributes of bitcoin is that the supply is limited forever." + ], + "id": "LimitedSupply", + "question": "Is the supply of bitcoin limited forever?", + "text": "Governments can print fiat money in unlimited quantities.\n\n\nBy way of contrast, the supply of Bitcoin is fixed — and can never exceed 21 million coins.\n\n\nA continually increasing supply of fiat money creates inflation. This means that the money you hold today is less valuable in the future.\n\nOne simple example:\nA loaf of bread that cost about 8 cents in 1920. In the year 1990 one loaf cost about $1.00, and today the price is closer to $2.50 !\n\n\nThe limited supply of bitcoin has the opposite effect, one of deflation.\n\n\nThis means that the bitcoin you hold today is designed to be more valuable in the future — because it is scarce.\n", + "title": "Special Characteristic", + "type": "Text" +} diff --git a/chapter-104-bitcoin-why-is-it-special/104.02-lesson-decentralized.json b/chapter-104-bitcoin-why-is-it-special/104.02-lesson-decentralized.json new file mode 100644 index 0000000..0c894b1 --- /dev/null +++ b/chapter-104-bitcoin-why-is-it-special/104.02-lesson-decentralized.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "No. Bitcoin is completely “decentralized”.", + "Yes. It is centrally controlled by the United Nations.", + "Yes. It is centrally controlled by the world’s largest banks." + ], + "feedback": [ + "That is correct. There is no company, government or institution that controls bitcoin. Anyone can use bitcoin — all need is a smartphone and an internet connection.", + "Wrong answer. Please try again.", + "Incorrect. You already know this is not true!" + ], + "id": "Decentralized", + "question": "Is bitcoin centralized?", + "text": "Fiat money is controlled by banks and governments — which is why people refer to it as a “centralized” currency.\n\nBitcoin is not controlled by any person, government or company — which makes it “decentralized”\n\nNot having banks involved means that nobody can deny you access to bitcoin — because of race, gender, income, credit history, geographical location — or any other factor.\n\nAnybody — anywhere in the world — can access and use Bitcoin anytime you want. All you need is a computer or smartphone, and an internet connection. In fact, even a feature phone with no internet can utilize Bitcoin with services like Machankura!\n", + "title": "Special Characteristic", + "type": "Text" +} diff --git a/chapter-104-bitcoin-why-is-it-special/104.03-lesson-no-counterfeit-money.json b/chapter-104-bitcoin-why-is-it-special/104.03-lesson-no-counterfeit-money.json new file mode 100644 index 0000000..2f938c1 --- /dev/null +++ b/chapter-104-bitcoin-why-is-it-special/104.03-lesson-no-counterfeit-money.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "No. It is impossible to counterfeit Bitcoin.", + "Yes. Although creating fake bitcoin requires very specialized computers.", + "Yes. The govrenment can print as much bitcoin as it likes." + ], + "feedback": [ + "counterfeit Bitcoin.", + "Incorrect. There is no way for anyone to copy or duplicate the value of a bitcoin.", + "Wrong. Although the government can print unlimited dollars, it can not print bitcoin." + ], + "id": "NoCounterfeitMoney", + "question": "Can people counterfeit Bitcoin?", + "text": "Paper money, checks and credit card transactions can all be counterfeit, or faked.\n\nThe unique software that runs the Bitcoin network eliminates the possibility of duplicating money for counterfeit purposes.\n\nNew bitcoin can only be issued if there is agreement amongst the participants in the network. People who are voluntarily running bitcoin software on their own computers and smartphones.\n\nThis ensures that it is impossible to counterfeit, or create fake bitcoins.\n", + "title": "Special Characteristic", + "type": "Text" +} diff --git a/chapter-104-bitcoin-why-is-it-special/104.04-lesson-highly-divisible.json b/chapter-104-bitcoin-why-is-it-special/104.04-lesson-highly-divisible.json new file mode 100644 index 0000000..e368045 --- /dev/null +++ b/chapter-104-bitcoin-why-is-it-special/104.04-lesson-highly-divisible.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "0.00000001 BTC", + "One whole bitcoin. It is not possible to use anything less.", + "0.01 BTC" + ], + "feedback": [ + "Yes. You can divide a bitcoin into 100,000,000 pieces. As you already know, the smallest unit of bitcoin — B0.00000001 — is known as a “sat”.", + "Wrong. Bitcoin is highly divisible. You can easily use a very small fraction of a bitcoin.", + "Incorrect. Although the smallest unit of US currency is one penny, a bitcoin is divisible by much more than 100x." + ], + "id": "HighlyDivisible", + "question": "What is the smallest amount of Bitcoin one can own, or use?", + "text": "Old-fashioned fiat money can only be spent in amounts as small as one penny — or two decimal places for one US Dollar ($0.01).\n\nOn the other hand, Bitcoin can be divided 100,000,000 times over. This means that you could spend as little as ₿0.00000001. You will note the \"\"₿\"\" symbol, which is the Bitcoin equivalent of \"\"$\"\". Sometimes you will also see the use of BTC, instead of ₿.\n\nBy way of contrast, Bitcoin can handle very small payments — even those less than one US penny!\n", + "title": "Special Characteristic", + "type": "Text" +} diff --git a/chapter-104-bitcoin-why-is-it-special/104.05-lesson-secure-part-one.json b/chapter-104-bitcoin-why-is-it-special/104.05-lesson-secure-part-one.json new file mode 100644 index 0000000..8199236 --- /dev/null +++ b/chapter-104-bitcoin-why-is-it-special/104.05-lesson-secure-part-one.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Yes. The bitcoin network is very secure.", + "Maybe. It depends on the day of the week.", + "bitcoin network is safe and secure — 24 hours a day, 365 days a year." + ], + "feedback": [ + "Correct. In fact, the Bitcoin network has never once been hacked. Answer the next question to learn more!", + "Nice try, but wrong. The bitcoin network is safe and secure — 24 hours a day, 365 days a year.", + "Incorrect. Although bitcoin is indeed “open source” software — or available to the public for free — is still extremely secure." + ], + "id": "securePartOne", + "question": "Is the Bitcoin network secure?", + "text": "The bitcoin network is worth well over $100 billion today. Accordingly, the network must be very secure — so that money is never stolen.\n\n\nBitcoin is known as the world’s first cryptocurrency.\n\n\nThe “crypto” part of the name comes from cryptography. Simply put, cryptography protects information through very complex math functions.\n\n\nMost people do not realize — but Bitcoin is actually the most secure computer network in the world !\n\n\n(you may have heard about bitcoin “hacks” — which we will debunk in the next quiz)\n", + "title": "Special Characteristic", + "type": "Text" +} diff --git a/chapter-104-bitcoin-why-is-it-special/104.06-lesson-secure-part-two.json b/chapter-104-bitcoin-why-is-it-special/104.06-lesson-secure-part-two.json new file mode 100644 index 0000000..ffc9b16 --- /dev/null +++ b/chapter-104-bitcoin-why-is-it-special/104.06-lesson-secure-part-two.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "No. Bitcoin has never been hacked.", + "Yes. Bitcoin gets hacked frequently.", + "Yes. Bitcoin usually gets hacked on holidays, when traditional banks are closed." + ], + "feedback": [ + "That is correct. The bitcoin network has never been compromised. However, it is important to make you use secure digital wallet (such as Galoy!) to keep your personal bitcoins safe at all times.", + "Wrong. Please try again.", + "No silly, you know that is not the correct answer." + ], + "id": "securePartTwo", + "question": "Has Bitcoin ever been hacked?", + "text": "To be direct: the bitcoin network itself has never been hacked. Never once.\n\n\n Then what exactly has been hacked?\n\n\n Certain digital wallets that did not have proper security in place.\n\n\n Just like a physical wallet holds fiat currency (in the form of paper bills), digital wallets hold some amount of bitcoin.\n\n\n In the physical world, criminals rob banks — and walk away with US Dollars. The fact that someone robbed a bank does not have any relationship as to whether the US Dollar is stable or reliable money.\n\n\n Similarly, some computer hackers have stolen bitcoin from insecure digital wallets — the online equivalent of a bank robbery.\n\n\n However, it is important to know that the bitcoin network has never been hacked or compromised !\n", + "title": "Special Characteristic", + "type": "Text" +} diff --git a/chapter-201-the-origins-of-money/201-combined.json b/chapter-201-the-origins-of-money/201-combined.json new file mode 100644 index 0000000..103984c --- /dev/null +++ b/chapter-201-the-origins-of-money/201-combined.json @@ -0,0 +1,93 @@ +{ + "content": [ + { + "answers": [ + "To store and transfer wealth", + "To serve as a form of entertainment", + "To act as a status symbol" + ], + "feedback": [ + "Congratulations! You hit the nail on the head. Collectibles have long been used as a medium for storing and transferring wealth, much like how Bitcoin is used today as a decentralized digital currency", + "Sorry, but collectibles aren't just for show - they have a deeper purpose", + "While collectibles may serve as a status symbol for some, there's more to it than just showing off." + ], + "id": "originsOfMoney", + "question": "What is the primary and ultimate evolutionary function of collectibles", + "text": "The earliest human societies engaged in trade through barter, but this method had several limitations. One issue was the \"double coincidence of wants\" problem, where two people needed to desire the same item at the same time in order to complete a trade.\n\nTo overcome this issue, humans began to collect and value certain items for their rarity and symbolic significance, such as shells, animal teeth, and flint.\n\nThese collectibles served as a way for early humans to store and transfer wealth, providing an evolutionary advantage over other species such as Homo neanderthalensis.\n", + "title": "The origins of money", + "type": "Text" + }, + { + "answers": [ + "To store value", + "To serve as a form of entertainment", + "To act as a medium of exchange" + ], + "feedback": [ + "Congratulations! You're right on the money (pun intended). Collectibles served as a store of value in paleolithic societies, much like how Bitcoin and other cryptocurrencies are used today as a digital store of value", + "Sorry, collectibles might be fun to collect, but they had a more practical purpose in ancient societies", + "Collectibles were not used as frequently as modern currency, so they didn't quite play the same role as a medium of exchange." + ], + "id": "primitiveMoney", + "question": "What was the primary role of collectibles in paleolithic societies", + "text": "Collectibles served as a precursor to money by allowing trade between different groups and facilitating the transfer of wealth between generations. Although they were not used as frequently as modern money in paleolithic societies, collectibles still served as a store of value and could sometimes even facilitate trade.\n\nPrimitive forms of money, such as collectibles, had a low velocity compared to modern currency and might only be transferred a few times during an individual's lifetime. However, durable collectibles that were passed down through generations had substantial value at each transfer and sometimes made trade possible.\n", + "title": "Primitive forms of money", + "type": "Text" + }, + { + "answers": [ + "The ability to buy collectibles at a lower price before they became widely sought after", + "The ability to trade collectibles for other useful items", + "The ability to impress others with their collection of rare and valuable items" + ], + "feedback": [ + "Congratulations, you are correct! It seems that the concept of \"buy low, sell high\" is not a modern invention, as early humans also sought to acquire collectibles at a lower cost before their demand and trade value increased. Fun fact: this principle also applies to bitcoin, where early adopters were able to acquire bitcoins at a much lower price before their value skyrocketed", + "Sorry, that is not the correct answer. While being able to trade collectibles for other useful items may have been a benefit of correctly anticipating demand, it was not the main advantage", + "I'm afraid that is not the correct answer. While having a collection of rare and valuable items may have been a source of pride and admiration, it was not the main advantage" + ], + "id": "anticipatingDemand", + "question": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies", + "text": "The choice of which items to collect or create posed a significant problem for early humans, as they had to anticipate which objects would be desired by others. The ability to correctly predict which items would be in demand for their collectible value gave a significant advantage to the owner in terms of their ability to trade and accumulate wealth.\n\nSome Native American tribes, such as the Narragansetts, even focused on producing collectibles that had little practical use, but were valuable in trade.\n\nThe earlier a collectible is anticipated to be in future demand, the greater the advantage its possessor has, as it can be obtained at a lower cost before it becomes widely sought after and its trade value increases as the number of people demanding it grows.\n", + "title": "Anticipating Demand", + "type": "Text" + }, + { + "answers": [ + "A concept that helps societies decide on a single store of value", + "A type of dance that promotes trade and the division of labor", + "A musical instrument that makes it easier to conduct trade and specialize in different tasks" + ], + "feedback": [ + "Congratulations, you are correct! A Nash Equilibrium is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy. In the context of choosing a store of value, achieving a Nash Equilibrium means that society has converged on a single store of value, which greatly facilitates trade and the division of labor. Fun fact: Bitcoin is often cited as an example of a Nash Equilibrium, as it has become the dominant cryptocurrency due to its perceived value and widespread adoption", + "Sorry, that is not the correct answer. While a Nash Equilibrium has nothing to do with dance, it is an important concept in game theory that can benefit society", + "I'm afraid that is not the correct answer. While music can bring people together and facilitate cooperation, a Nash Equilibrium has nothing to do with musical instruments. It is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy." + ], + "id": "nashEquilibrium", + "question": "What is a Nash Equilibrium and how does it benefit society", + "text": "Acquiring an item with the expectation that it will be desired as a future store of value can accelerate its adoption for that purpose. This process can create a feedback loop that drives societies towards adopting a single store of value.\n\nIn game theory, this is known as a \"Nash Equilibrium\". Reaching a Nash Equilibrium for a store of value can greatly benefit a society, as it makes trade and the division of labor easier and paves the way for the development of civilization.\n", + "title": "The Key to Facilitating Trade", + "type": "Text" + }, + { + "answers": [ + "To increase the purchasing power of their savings", + "To learn about other cultures and societies", + "To show off their wealth and status" + ], + "feedback": [ + "Correct! Merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society because it increased the purchasing power of their savings. This not only benefited the merchants, but also the society as a whole, as the adoption of a single store of value reduced the cost of completing trade with other societies and increased trade-based wealth. Fun fact: Bitcoin is an example of a store of value that has been adopted by many societies, and its widespread adoption has increased its purchasing power and facilitated trade", + "Sorry, that is not the correct answer. While learning about other cultures and societies may have been a side benefit of promoting the adoption of a foreign store of value, it was not the main reason", + "I'm afraid that is not the correct answer. While showing off wealth and status may have been a motivation for some individuals, it was not the main reason for why merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society." + ], + "id": "singleStoreOfValue", + "question": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society", + "text": "As human societies and trade routes developed over time, stores of value that emerged in different societies began to compete with each other. Merchants and traders had to decide whether to save their profits in the store of value of their own society or in the store of value of the society they were trading with, or a combination of both.\n\nHolding savings in a foreign store of value gave merchants the ability to complete trade more easily in that society, and also gave them an incentive to promote the adoption of that store of value in their own society, as it would increase the purchasing power of their savings.\n\nWhen two societies adopt the same store of value, they see a significant reduction in the cost of trading with each other and an increase in trade-based wealth. In the 19th century, most of the world converged on a single store of value – gold – and this period saw the greatest increase in trade in history.\n", + "title": "The Benefits of Converging on a Single Store of Value", + "type": "Text" + } + ], + "meta": { + "id": "TheOriginsofMoney", + "title": "The Origins of Money" + } +} diff --git a/chapter-201-the-origins-of-money/201-es-combined.json b/chapter-201-the-origins-of-money/201-es-combined.json new file mode 100644 index 0000000..990d3b7 --- /dev/null +++ b/chapter-201-the-origins-of-money/201-es-combined.json @@ -0,0 +1,93 @@ +{ + "content": [ + { + "answers": [ + "Para almacenar y transferir riqueza", + "Servir como forma de entretenimiento.", + "Actuar como s\u00edmbolo de estatus" + ], + "feedback": [ + "\u00a1Felicidades! Le diste al clavo. Los objetos coleccionables se han utilizado durante mucho tiempo como medio para almacenar y transferir riqueza, de forma muy similar a c\u00f3mo se utiliza hoy Bitcoin como moneda digital descentralizada.", + "Lo sentimos, pero los coleccionables no son s\u00f3lo para mostrar: tienen un prop\u00f3sito m\u00e1s profundo.", + "Si bien los objetos coleccionables pueden servir como s\u00edmbolo de estatus para algunos, implican mucho m\u00e1s que simplemente lucirse." + ], + "id": "or\u00edgenes del dinero", + "question": "\u00bfCu\u00e1l es la funci\u00f3n evolutiva primaria y \u00faltima de los coleccionables?", + "text": "Las primeras sociedades humanas comerciaban mediante el trueque, pero este m\u00e9todo ten\u00eda varias limitaciones. Un problema era el de la \"doble coincidencia de deseos\", en el que dos personas necesitaban desear el mismo art\u00edculo al mismo tiempo para completar un intercambio.\n\nPara superar este problema, los humanos comenzaron a coleccionar y valorar ciertos elementos por su rareza y significado simb\u00f3lico, como conchas, dientes de animales y pedernal.\n\nEstos objetos coleccionables sirvieron para que los primeros humanos almacenaran y transfirieran riqueza, proporcionando una ventaja evolutiva sobre otras especies como el Homo neanderthalensis.\n", + "title": "Los or\u00edgenes del dinero", + "type": "Texto" + }, + { + "answers": [ + "Para almacenar valor", + "Servir como forma de entretenimiento.", + "Actuar como medio de intercambio." + ], + "feedback": [ + "\u00a1Felicidades! Tienes raz\u00f3n en el dinero (juego de palabras). Los objetos coleccionables sirvieron como dep\u00f3sito de valor en las sociedades paleol\u00edticas, de forma muy similar a como Bitcoin y otras criptomonedas se utilizan hoy en d\u00eda como dep\u00f3sito digital de valor.", + "Lo sentimos, los objetos coleccionables pueden ser divertidos de coleccionar, pero ten\u00edan un prop\u00f3sito m\u00e1s pr\u00e1ctico en las sociedades antiguas.", + "Los objetos coleccionables no se utilizaban con tanta frecuencia como la moneda moderna, por lo que no desempe\u00f1aban el mismo papel como medio de cambio." + ], + "id": "primitivoDinero", + "question": "\u00bfCu\u00e1l fue el papel principal de los objetos de colecci\u00f3n en las sociedades paleol\u00edticas?", + "text": "Los coleccionables sirvieron como precursores del dinero al permitir el comercio entre diferentes grupos y facilitar la transferencia de riqueza entre generaciones. Aunque no se utilizaban con tanta frecuencia como el dinero moderno en las sociedades paleol\u00edticas, los objetos de colecci\u00f3n todav\u00eda serv\u00edan como dep\u00f3sito de valor y, en ocasiones, incluso pod\u00edan facilitar el comercio.\n\nLas formas primitivas de dinero, como los objetos de colecci\u00f3n, ten\u00edan una velocidad baja en comparaci\u00f3n con la moneda moderna y solo pod\u00edan transferirse unas pocas veces durante la vida de un individuo. Sin embargo, los objetos de colecci\u00f3n duraderos que se transmitieron de generaci\u00f3n en generaci\u00f3n ten\u00edan un valor sustancial en cada transferencia y, en ocasiones, hicieron posible el comercio.\n", + "title": "Formas primitivas de dinero.", + "type": "Texto" + }, + { + "answers": [ + "La posibilidad de comprar objetos de colecci\u00f3n a un precio m\u00e1s bajo antes de que se volvieran muy buscados.", + "La posibilidad de intercambiar objetos coleccionables por otros art\u00edculos \u00fatiles.", + "La capacidad de impresionar a otros con su colecci\u00f3n de art\u00edculos raros y valiosos." + ], + "feedback": [ + "\u00a1Felicidades, tienes raz\u00f3n! Parece que el concepto de \"comprar barato, vender caro\" no es una invenci\u00f3n moderna, ya que los primeros humanos tambi\u00e9n buscaban adquirir objetos de colecci\u00f3n a un costo menor antes de que aumentara su demanda y su valor comercial. Dato curioso: este principio tambi\u00e9n se aplica a bitcoin, donde los primeros usuarios pudieron adquirir bitcoins a un precio mucho m\u00e1s bajo antes de que su valor se disparara.", + "Lo siento, esa no es la respuesta correcta. Si bien poder intercambiar objetos coleccionables por otros art\u00edculos \u00fatiles puede haber sido un beneficio de anticipar correctamente la demanda, no fue la principal ventaja.", + "Me temo que esa no es la respuesta correcta. Si bien tener una colecci\u00f3n de art\u00edculos raros y valiosos puede haber sido una fuente de orgullo y admiraci\u00f3n, no fue la principal ventaja." + ], + "id": "anticipando la demanda", + "question": "\u00bfCu\u00e1l fue la principal ventaja de poder anticipar la demanda futura de art\u00edculos coleccionables en las primeras sociedades humanas?", + "text": "La elecci\u00f3n de qu\u00e9 objetos coleccionar o crear plante\u00f3 un problema importante para los primeros humanos, ya que ten\u00edan que anticipar qu\u00e9 objetos desear\u00edan los dem\u00e1s. La capacidad de predecir correctamente qu\u00e9 art\u00edculos tendr\u00edan demanda por su valor coleccionable daba una ventaja significativa al propietario en t\u00e9rminos de su capacidad para comerciar y acumular riqueza.\n\nAlgunas tribus nativas americanas, como los Narragansetts, incluso se centraron en producir objetos de colecci\u00f3n que ten\u00edan poco uso pr\u00e1ctico, pero que eran valiosos para el comercio.\n\nCuanto antes se anticipe que un objeto de colecci\u00f3n tendr\u00e1 demanda futura, mayor ser\u00e1 la ventaja para su poseedor, ya que se puede obtener a un costo menor antes de que sea ampliamente buscado y su valor comercial aumenta a medida que crece el n\u00famero de personas que lo demandan.\n", + "title": "Anticipando la demanda", + "type": "Texto" + }, + { + "answers": [ + "Un concepto que ayuda a las sociedades a decidir sobre una \u00fanica reserva de valor", + "Un tipo de danza que promueve el comercio y la divisi\u00f3n del trabajo.", + "Un instrumento musical que facilita la realizaci\u00f3n del comercio y la especializaci\u00f3n en diferentes tareas." + ], + "feedback": [ + "\u00a1Felicidades, tienes raz\u00f3n! Un equilibrio de Nash es un concepto de la teor\u00eda de juegos que se refiere a una situaci\u00f3n en la que ning\u00fan jugador puede obtener una ventaja cambiando su estrategia. En el contexto de la elecci\u00f3n de una reserva de valor, lograr un equilibrio de Nash significa que la sociedad ha convergido en una \u00fanica reserva de valor, lo que facilita enormemente el comercio y la divisi\u00f3n del trabajo. Dato curioso: Bitcoin se cita a menudo como un ejemplo de equilibrio de Nash, ya que se ha convertido en la criptomoneda dominante debido a su valor percibido y su adopci\u00f3n generalizada.", + "Lo siento, esa no es la respuesta correcta. Si bien el equilibrio de Nash no tiene nada que ver con la danza, es un concepto importante en la teor\u00eda de juegos que puede beneficiar a la sociedad.", + "Me temo que esa no es la respuesta correcta. Si bien la m\u00fasica puede unir a las personas y facilitar la cooperaci\u00f3n, el equilibrio de Nash no tiene nada que ver con los instrumentos musicales. Es un concepto de la teor\u00eda de juegos que se refiere a una situaci\u00f3n en la que ning\u00fan jugador puede obtener ventaja cambiando su estrategia." + ], + "id": "equilibrio de Nash", + "question": "\u00bfQu\u00e9 es el equilibrio de Nash y c\u00f3mo beneficia a la sociedad?", + "text": "Adquirir un art\u00edculo con la expectativa de que ser\u00e1 deseado como reserva de valor en el futuro puede acelerar su adopci\u00f3n para ese prop\u00f3sito. Este proceso puede crear un circuito de retroalimentaci\u00f3n que impulse a las sociedades a adoptar una \u00fanica reserva de valor.\n\nEn teor\u00eda de juegos, esto se conoce como \"equilibrio de Nash\". Alcanzar un equilibrio de Nash para una reserva de valor puede beneficiar enormemente a una sociedad, ya que facilita el comercio y la divisi\u00f3n del trabajo y allana el camino para el desarrollo de la civilizaci\u00f3n.\n", + "title": "La clave para facilitar el comercio", + "type": "Texto" + }, + { + "answers": [ + "Para aumentar el poder adquisitivo de sus ahorros.", + "Para aprender sobre otras culturas y sociedades.", + "Para mostrar su riqueza y estatus." + ], + "feedback": [ + "\u00a1Correcto! Los comerciantes y comerciantes ten\u00edan un incentivo para promover la adopci\u00f3n de una reserva de valor extranjera en su propia sociedad porque aumentaba el poder adquisitivo de sus ahorros. Esto no s\u00f3lo benefici\u00f3 a los comerciantes, sino tambi\u00e9n a la sociedad en su conjunto, ya que la adopci\u00f3n de una \u00fanica reserva de valor redujo el costo de completar el comercio con otras sociedades y aument\u00f3 la riqueza basada en el comercio. Dato curioso: Bitcoin es un ejemplo de dep\u00f3sito de valor que ha sido adoptado por muchas sociedades, y su adopci\u00f3n generalizada ha aumentado su poder adquisitivo y facilitado el comercio.", + "Lo siento, esa no es la respuesta correcta. Si bien aprender sobre otras culturas y sociedades puede haber sido un beneficio secundario de promover la adopci\u00f3n de una reserva de valor extranjera, no fue la raz\u00f3n principal.", + "Me temo que esa no es la respuesta correcta. Si bien mostrar riqueza y estatus puede haber sido una motivaci\u00f3n para algunos individuos, no fue la raz\u00f3n principal por la cual los comerciantes y comerciantes ten\u00edan un incentivo para promover la adopci\u00f3n de una reserva de valor extranjera en su propia sociedad." + ], + "id": "singleStoreOfValue", + "question": "\u00bfPor qu\u00e9 los comerciantes y comerciantes de las primeras sociedades humanas ten\u00edan un incentivo para promover la adopci\u00f3n de una reserva de valor extranjera en su propia sociedad?", + "text": "A medida que las sociedades humanas y las rutas comerciales se desarrollaron con el tiempo, las reservas de valor que surgieron en diferentes sociedades comenzaron a competir entre s\u00ed. Los comerciantes y comerciantes ten\u00edan que decidir si guardar\u00edan sus ganancias en el dep\u00f3sito de valor de su propia sociedad o en el dep\u00f3sito de valor de la sociedad con la que comerciaban, o en una combinaci\u00f3n de ambos.\n\nMantener ahorros en una reserva de valor extranjera dio a los comerciantes la capacidad de realizar transacciones comerciales m\u00e1s f\u00e1cilmente en esa sociedad, y tambi\u00e9n les dio un incentivo para promover la adopci\u00f3n de esa reserva de valor en su propia sociedad, ya que aumentar\u00eda el poder adquisitivo de sus clientes. ahorros.\n\nCuando dos sociedades adoptan la misma reserva de valor, ven una reducci\u00f3n significativa en el costo del comercio entre s\u00ed y un aumento en la riqueza basada en el comercio. En el siglo XIX, la mayor parte del mundo convergi\u00f3 en un \u00fanico dep\u00f3sito de valor \u2013el oro\u2013 y en este per\u00edodo se produjo el mayor aumento del comercio de la historia.\n", + "title": "Los beneficios de converger en una \u00fanica reserva de valor", + "type": "Texto" + } + ], + "meta": { + "id": "Los or\u00edgenes del dinero", + "title": "Los or\u00edgenes del dinero" + } +} \ No newline at end of file diff --git a/chapter-201-the-origins-of-money/201.01-lesson-origins-of-money.json b/chapter-201-the-origins-of-money/201.01-lesson-origins-of-money.json new file mode 100644 index 0000000..6ea8470 --- /dev/null +++ b/chapter-201-the-origins-of-money/201.01-lesson-origins-of-money.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To store and transfer wealth", + "To serve as a form of entertainment", + "To act as a status symbol" + ], + "feedback": [ + "Congratulations! You hit the nail on the head. Collectibles have long been used as a medium for storing and transferring wealth, much like how Bitcoin is used today as a decentralized digital currency", + "Sorry, but collectibles aren't just for show - they have a deeper purpose", + "While collectibles may serve as a status symbol for some, there's more to it than just showing off." + ], + "id": "originsOfMoney", + "question": "What is the primary and ultimate evolutionary function of collectibles", + "text": "The earliest human societies engaged in trade through barter, but this method had several limitations. One issue was the \"double coincidence of wants\" problem, where two people needed to desire the same item at the same time in order to complete a trade.\n\nTo overcome this issue, humans began to collect and value certain items for their rarity and symbolic significance, such as shells, animal teeth, and flint.\n\nThese collectibles served as a way for early humans to store and transfer wealth, providing an evolutionary advantage over other species such as Homo neanderthalensis.\n", + "title": "The origins of money", + "type": "Text" +} diff --git a/chapter-201-the-origins-of-money/201.02-lesson-primitive-money.json b/chapter-201-the-origins-of-money/201.02-lesson-primitive-money.json new file mode 100644 index 0000000..0055386 --- /dev/null +++ b/chapter-201-the-origins-of-money/201.02-lesson-primitive-money.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To store value", + "To serve as a form of entertainment", + "To act as a medium of exchange" + ], + "feedback": [ + "Congratulations! You're right on the money (pun intended). Collectibles served as a store of value in paleolithic societies, much like how Bitcoin and other cryptocurrencies are used today as a digital store of value", + "Sorry, collectibles might be fun to collect, but they had a more practical purpose in ancient societies", + "Collectibles were not used as frequently as modern currency, so they didn't quite play the same role as a medium of exchange." + ], + "id": "primitiveMoney", + "question": "What was the primary role of collectibles in paleolithic societies", + "text": "Collectibles served as a precursor to money by allowing trade between different groups and facilitating the transfer of wealth between generations. Although they were not used as frequently as modern money in paleolithic societies, collectibles still served as a store of value and could sometimes even facilitate trade.\n\nPrimitive forms of money, such as collectibles, had a low velocity compared to modern currency and might only be transferred a few times during an individual's lifetime. However, durable collectibles that were passed down through generations had substantial value at each transfer and sometimes made trade possible.\n", + "title": "Primitive forms of money", + "type": "Text" +} diff --git a/chapter-201-the-origins-of-money/201.03-lesson-anticipating-demand.json b/chapter-201-the-origins-of-money/201.03-lesson-anticipating-demand.json new file mode 100644 index 0000000..7dd3e5f --- /dev/null +++ b/chapter-201-the-origins-of-money/201.03-lesson-anticipating-demand.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The ability to buy collectibles at a lower price before they became widely sought after", + "The ability to trade collectibles for other useful items", + "The ability to impress others with their collection of rare and valuable items" + ], + "feedback": [ + "Congratulations, you are correct! It seems that the concept of \"buy low, sell high\" is not a modern invention, as early humans also sought to acquire collectibles at a lower cost before their demand and trade value increased. Fun fact: this principle also applies to bitcoin, where early adopters were able to acquire bitcoins at a much lower price before their value skyrocketed", + "Sorry, that is not the correct answer. While being able to trade collectibles for other useful items may have been a benefit of correctly anticipating demand, it was not the main advantage", + "I'm afraid that is not the correct answer. While having a collection of rare and valuable items may have been a source of pride and admiration, it was not the main advantage" + ], + "id": "anticipatingDemand", + "question": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies", + "text": "The choice of which items to collect or create posed a significant problem for early humans, as they had to anticipate which objects would be desired by others. The ability to correctly predict which items would be in demand for their collectible value gave a significant advantage to the owner in terms of their ability to trade and accumulate wealth.\n\nSome Native American tribes, such as the Narragansetts, even focused on producing collectibles that had little practical use, but were valuable in trade.\n\nThe earlier a collectible is anticipated to be in future demand, the greater the advantage its possessor has, as it can be obtained at a lower cost before it becomes widely sought after and its trade value increases as the number of people demanding it grows.\n", + "title": "Anticipating Demand", + "type": "Text" +} diff --git a/chapter-201-the-origins-of-money/201.04-lesson-nash-equilibrium.json b/chapter-201-the-origins-of-money/201.04-lesson-nash-equilibrium.json new file mode 100644 index 0000000..83ad3ab --- /dev/null +++ b/chapter-201-the-origins-of-money/201.04-lesson-nash-equilibrium.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A concept that helps societies decide on a single store of value", + "A type of dance that promotes trade and the division of labor", + "A musical instrument that makes it easier to conduct trade and specialize in different tasks" + ], + "feedback": [ + "Congratulations, you are correct! A Nash Equilibrium is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy. In the context of choosing a store of value, achieving a Nash Equilibrium means that society has converged on a single store of value, which greatly facilitates trade and the division of labor. Fun fact: Bitcoin is often cited as an example of a Nash Equilibrium, as it has become the dominant cryptocurrency due to its perceived value and widespread adoption", + "Sorry, that is not the correct answer. While a Nash Equilibrium has nothing to do with dance, it is an important concept in game theory that can benefit society", + "I'm afraid that is not the correct answer. While music can bring people together and facilitate cooperation, a Nash Equilibrium has nothing to do with musical instruments. It is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy." + ], + "id": "nashEquilibrium", + "question": "What is a Nash Equilibrium and how does it benefit society", + "text": "Acquiring an item with the expectation that it will be desired as a future store of value can accelerate its adoption for that purpose. This process can create a feedback loop that drives societies towards adopting a single store of value.\n\nIn game theory, this is known as a \"Nash Equilibrium\". Reaching a Nash Equilibrium for a store of value can greatly benefit a society, as it makes trade and the division of labor easier and paves the way for the development of civilization.\n", + "title": "The Key to Facilitating Trade", + "type": "Text" +} diff --git a/chapter-201-the-origins-of-money/201.05-lesson-single-store-of-value.json b/chapter-201-the-origins-of-money/201.05-lesson-single-store-of-value.json new file mode 100644 index 0000000..d4f1c4c --- /dev/null +++ b/chapter-201-the-origins-of-money/201.05-lesson-single-store-of-value.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To increase the purchasing power of their savings", + "To learn about other cultures and societies", + "To show off their wealth and status" + ], + "feedback": [ + "Correct! Merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society because it increased the purchasing power of their savings. This not only benefited the merchants, but also the society as a whole, as the adoption of a single store of value reduced the cost of completing trade with other societies and increased trade-based wealth. Fun fact: Bitcoin is an example of a store of value that has been adopted by many societies, and its widespread adoption has increased its purchasing power and facilitated trade", + "Sorry, that is not the correct answer. While learning about other cultures and societies may have been a side benefit of promoting the adoption of a foreign store of value, it was not the main reason", + "I'm afraid that is not the correct answer. While showing off wealth and status may have been a motivation for some individuals, it was not the main reason for why merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society." + ], + "id": "singleStoreOfValue", + "question": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society", + "text": "As human societies and trade routes developed over time, stores of value that emerged in different societies began to compete with each other. Merchants and traders had to decide whether to save their profits in the store of value of their own society or in the store of value of the society they were trading with, or a combination of both.\n\nHolding savings in a foreign store of value gave merchants the ability to complete trade more easily in that society, and also gave them an incentive to promote the adoption of that store of value in their own society, as it would increase the purchasing power of their savings.\n\nWhen two societies adopt the same store of value, they see a significant reduction in the cost of trading with each other and an increase in trade-based wealth. In the 19th century, most of the world converged on a single store of value – gold – and this period saw the greatest increase in trade in history.\n", + "title": "The Benefits of Converging on a Single Store of Value", + "type": "Text" +} diff --git a/chapter-202-attributes-of-a-good-store-of-value/202-combined.json b/chapter-202-attributes-of-a-good-store-of-value/202-combined.json new file mode 100644 index 0000000..0d01121 --- /dev/null +++ b/chapter-202-attributes-of-a-good-store-of-value/202-combined.json @@ -0,0 +1,161 @@ +{ + "content": [ + { + "answers": [ + "Durability, portability, interchangeability, verifiability, divisibility, scarcity, long history, and resistance to censorship", + "Tastiness, cuteness, softness, and Instagram-ability", + "Rarity, beauty, and sentimental value" + ], + "feedback": [ + "Yes! A good store of value should have attributes such as durability, portability, interchangeability, verifiability, divisibility, scarcity, a long history, and resistance to censorship. These characteristics make it easier to use as a medium of exchange and store of value, and increase its demand over time", + "Sorry, that is not the correct answer. While tastiness, cuteness, softness, and Instagram-ability may be desirable qualities in other contexts, they are not typically considered important attributes for a store of value", + "I'm afraid that is not the correct answer. While rarity, beauty, and sentimental value may make an item valuable to a particular individual, they are not typically considered important attributes for a store of value that is widely accepted and used as a medium of exchange." + ], + "id": "whatIsGoodSOV", + "question": "What are some attributes that make a good store of value", + "text": "When stores of value compete with each other, the attributes that make a good store of value allow it to outperform its competitors and increase demand over time.\n\nMany goods have been used as stores of value but certain attributes are particularly desirable and allow these goods to be more successful.\n\nAn ideal store of value should be durable, portable, interchangeable, verifiable, divisible, scarce, have a long history, and resistant to censorship.\n", + "title": "Some stores of value are better than others", + "type": "Text" + }, + { + "answers": [ + "The network that secures the currency", + "The physical manifestation of the currency", + "The institution that issues the currency" + ], + "feedback": [ + "You got it right. The network that secures the currency is an important factor in determining its durability, especially for digital currencies like bitcoin. Did you know that bitcoin has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers? That's quite impressive for a currency that's still in its early stages", + "Nope, sorry! The physical manifestation of the currency is actually not as important as the institution that issues it or the network that secures it. Don't worry though, you're not alone in making this mistake. Even the Ancient Greeks used to mint their coins out of perishable materials like bronze and copper", + "Close, but not quite! The institution that issues the currency is actually an important factor in determining its durability. But hey, at least you're not alone in this mistake. There have been many governments and currencies that have come and gone over the centuries." + ], + "id": "durability", + "question": "Which of the following is an important factor in determining the durability of a good store of value", + "text": "The good used as money should not be perishable or easily destroyed. Gold is known for its durability and is often considered the \"king\" in this regard.\n\nA large portion of the gold that has ever been mined or minted, including the gold of the Pharaohs, still exists today and is likely to remain available for many more years. Gold coins that were used as money in ancient times still hold significant value today.\n\nFiat currencies and bitcoins are digital records that may take physical form, such as paper bills. However, it is not the physical manifestation of these currencies that should be considered for their durability, but rather the durability of the institution that issues them.\n\nMany governments and their currencies have come and gone over the centuries, while others, such as the US dollar and British pound, have survived for a longer period of time. Bitcoins have no issuing authority, so their durability depends on the network that secures them. While it is still early to draw strong conclusions about the durability of bitcoins, there are signs that the network has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers.\n", + "title": "Durability is an important attribute for a good store of value", + "type": "Text" + }, + { + "answers": [ + "Its physical form", + "Its ability to be easily transported and stored", + "Its ability to facilitate long-distance trade" + ], + "feedback": [ + "You got it right. The physical form of the good is not a factor that makes it portable. In fact, digital currencies like bitcoin are the most portable stores of value because they can be easily stored on a small device and transmitted quickly across long distances. Did you know that private keys representing hundreds of millions of dollars can be stored on a tiny USB drive and easily carried anywhere with bitcoin? That's pretty impressive", + "Sorry, that's incorrect! The ability to be easily transported and stored is actually an important factor that makes a good store of value portable. But don't worry, it's a common mistake. After all, who wouldn't want to carry around a cow as a store of value? It would make for a pretty impressive conversation starter at least", + "Oops, that's not the right answer! The ability to facilitate long-distance trade is actually an important factor that makes a good store of value portable. But hey, at least you're not alone in this mistake. It's easy to see how someone might think that cows are the perfect portable store of value, given their ability to produce milk and beef." + ], + "id": "portability", + "question": "Which of the following is NOT a factor that makes a good store of value portable", + "text": "\n\"Portability\" refers to how easy it is to move or transport a good from one place to another.\n\nBitcoins are highly portable, allowing for easy storage on a small USB drive and quick transmission across long distances. Similarly, fiat currencies are also digital and therefore portable, but government regulations and capital controls can make large transfers of value difficult or impossible.\n\nOn the other hand, gold, being physical in form and very dense, is the least portable store of value, with the majority of bullion never being transported and the transfer of physical gold being costly, risky, and time-consuming.\n", + "title": "The good must be easy to transport and store", + "type": "Text" + }, + { + "answers": [ + "The shape and quality of diamonds are irregular", + "Gold is more valuable than diamonds", + "Gold is more abundant than diamonds" + ], + "feedback": [ + "Exactly**!** The irregular shape and quality of diamonds makes them less interchangeable than gold, which is why gold is considered more fungible. Did you also know that bitcoin is considered fungible at the network level, but its traceability on the blockchain can sometimes lead to it being treated as non-fungible by merchants or exchanges", + "Wrong answer! Gold may be more valuable than diamonds, but that's not the main reason it's considered more fungible. Looks like you need to brush up on your fungibility knowledge", + "Nope, sorry! While gold may be more abundant than diamonds, that's not the main reason it's considered more fungible. Better luck next time!" + ], + "id": "fungibility", + "question": "What is the main reason that gold is considered more fungible than diamonds", + "text": "\n\"Fungibility\" means that one unit of a currency is interchangeable with another unit of the same currency. This is an important attribute for a good store of value.\n\nGold is a highly fungible store of value, as when melted down, an ounce of gold is essentially indistinguishable from any other. Fiat currencies, on the other hand, may not always be completely fungible, as their issuing institutions may treat different denominations differently.\n\nLike gold, units of bitcoin are fungible, but there are some nuances to it. We'll dive into this in a later chapter.\n", + "title": "One specimen should be interchangeable with another of equal quantity", + "type": "Text" + }, + { + "answers": [ + "By using cryptographic signatures", + "By checking for gold-plated tungsten", + "By checking for features on banknotes to prevent counterfeiting" + ], + "feedback": [ + "Congratulations! You are correct. Bitcoin can be verified with mathematical certainty using cryptographic signatures", + "Sorry, but that's not quite right. Better luck next time", + "Wrong! Bitcoin is purely digital and doesn't utilize banknotes. Try again!" + ], + "id": "verifiability", + "question": "How can bitcoin be verified", + "text": "It is important for a good store of value to be easily verifiable as authentic. This increases confidence in trade and the likelihood that a transaction will be completed.\n\nBoth fiat currencies and gold are generally easy to verify, but they are not foolproof. Counterfeit bills and gold-plated tungsten have been used to deceive people in the past.\n\nOn the other hand, the use of cryptography makes verification very easy for bitcoin and makes counterfeiting impossible.\n", + "title": "The good must be easy to quickly identify and verify as authentic", + "type": "Text" + }, + { + "answers": [ + "Gold", + "Bitcoin", + "Fiat currency" + ], + "feedback": [ + "You are correct. Gold is difficult divide into small quantities for everyday trade. Did you know that gold has been used as a store of value for thousands of years due to its rarity and durability", + "Sorry, but that's not quite right. Bitcoin is highly divisible into its base unit 'satoshi', and it can even be divided into milli-satoshis (1/1000 of a satoshi) on the Lightning Network", + "Nope**.** While fiat currencies are not as divisible as bitcoin, they are easily divisible into smaller denominations." + ], + "id": "divisibility", + "question": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade", + "text": "The ability to divide a good is an important attribute for it to be a good store of value.\n\nImagine you have a $100 bill and want to buy a pack of chewing gum that costs 10 cents. The success of the trade depends on the seller having $99.90 in change available in that moment.\n\nIn societies where trade is prevalent, the ability to divide a good into smaller quantities allows for more precise exchange and can make it easier to use in day-to-day transactions.\n\nBitcoin is particularly useful in this regard, as it can be divided down to a hundred millionth of a unit and transmitted in tiny and exact amounts.\n\nFiat currencies are typically divisible down to pocket change, which has little purchasing power, making fiat divisible enough in practice.\n\nGold, while physically divisible, can be difficult to use in small quantities for everyday trade.\n", + "title": "The good must be easy to subdivide", + "type": "Text" + }, + { + "answers": [ + "Scarcity", + "Abundance", + "Ease of production" + ], + "feedback": [ + "Congratulations! You are correct. Did you know that there will only ever be a maximum of 21 million bitcoins in circulation, making it a scarce and valuable asset", + "Sorry, but abundance is not the most important attribute for a store of value. Better luck next time", + "Sorry, but ease of production is not the most important attribute for a store of value. Better luck next time!" + ], + "id": "scarce", + "question": "What is the most important attribute of a store of value", + "text": "A good store of value should have a limited supply, or be scarce.\n\nThis is because scarcity can create value, as people often desire rare or hard-to-obtain items. Bitcoin, for instance, is designed to have a maximum of 21 million units, which gives each owner a known percentage of the total possible supply.\n\nIn contrast, the supply of gold can potentially increase through new mining methods, and fiat currencies are often prone to inflation, leading to a decline in value over time.\n", + "title": "A monetary good must scarce", + "type": "Text" + }, + { + "answers": [ + "The new arrival has a significant advantage over the established good", + "The established good has a longer history of being valued by society", + "The new arrival is cheaper to produce" + ], + "feedback": [ + "You are correct. A long-established store of value is less likely to be displaced by a new arrival unless the new arrival has a significant advantage over the established good", + "Sorry, but this is actually the reason that a long-established store of value is less likely to be displaced. Better luck next time", + "Nope, wrong. Did you not pay attention in the previous lesson on scarcity?" + ], + "id": "establishedHistory", + "question": "What is the main reason that a long-established store of value could be displaced by a new arrival", + "text": "This is because a well-established store of value is less likely to be displaced by a newcomer, unless it has a significant advantage over the established good.\n\nAdditionally, people are creatures of habit and will keep using what they already know.\n\nGold, for example, has a long history of being valued and has maintained its value over time. In contrast, fiat currencies, which are a relatively recent invention, have a tendency to lose value over time due to inflation.\n\nBitcoin, although it has only been around for a short time, has shown resilience in the market and is likely to continue to be valued.\n", + "title": "An established history of being valued by society", + "type": "Text" + }, + { + "answers": [ + "Its decentralized, peer-to-peer network", + "Its physical nature", + "Its regulation by states" + ], + "feedback": [ + "You are correct. The decentralized, peer-to-peer network of Bitcoin allows for transactions to be made without permission, making it a censorship-resistant good", + "No. In fact, physical goods often require permission to cross borders and can easily be confiscated. Better luck next time", + "Sorry, but the opposite is actually true. The fiat banking system, which is regulated by states, requires human intervention to report and prevent certain uses of monetary goods, making it prone to censorship. Try again!" + ], + "id": "censorshipResistance", + "question": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good", + "text": "Censorship-resistance is an attribute that has become increasingly important in the digital age, as it refers to the difficulty that external parties, such as corporations or governments, have in preventing an individual from using a particular good.\n\nThis attribute is particularly valuable for individuals living under regimes that enforce capital controls or prohibit certain forms of trade. Bitcoin is often cited as being a censorship-resistant good due to its decentralized, peer-to-peer network, which allows for transactions to be made without human intervention or permission.\n\nIn contrast, the fiat banking system is regulated by states and requires human intervention to report and prevent certain uses of monetary goods, such as capital controls.\n\nGold, although it is not issued by states, can be difficult to transmit at a distance and is therefore more subject to state regulation.\n", + "title": "No permission required", + "type": "Text" + } + ], + "meta": { + "id": "AttributesofagoodStoreofValue", + "title": "Attributes of a good Store of Value" + } +} diff --git a/chapter-202-attributes-of-a-good-store-of-value/202-es-combined.json b/chapter-202-attributes-of-a-good-store-of-value/202-es-combined.json new file mode 100644 index 0000000..ad64184 --- /dev/null +++ b/chapter-202-attributes-of-a-good-store-of-value/202-es-combined.json @@ -0,0 +1,161 @@ +{ + "content": [ + { + "answers": [ + "Durabilidad, portabilidad, intercambiabilidad, verificabilidad, divisibilidad, escasez, larga historia y resistencia a la censura.", + "Sabor, ternura, suavidad y capacidad de Instagram.", + "Rareza, belleza y valor sentimental." + ], + "feedback": [ + "\u00a1S\u00ed! Una buena reserva de valor debe tener atributos como durabilidad, portabilidad, intercambiabilidad, verificabilidad, divisibilidad, escasez, una larga historia y resistencia a la censura. Estas caracter\u00edsticas facilitan su uso como medio de intercambio y dep\u00f3sito de valor, y aumentan su demanda con el tiempo.", + "Lo siento, esa no es la respuesta correcta. Si bien el sabor, la ternura, la suavidad y la capacidad de Instagram pueden ser cualidades deseables en otros contextos, normalmente no se consideran atributos importantes para una reserva de valor.", + "Me temo que esa no es la respuesta correcta. Si bien la rareza, la belleza y el valor sentimental pueden hacer que un art\u00edculo sea valioso para un individuo en particular, normalmente no se consideran atributos importantes para una reserva de valor que sea ampliamente aceptada y utilizada como medio de intercambio." + ], + "id": "qu\u00e9 es bueno SOV", + "question": "\u00bfCu\u00e1les son algunos de los atributos que constituyen una buena reserva de valor?", + "text": "Cuando las reservas de valor compiten entre s\u00ed, los atributos que componen una buena reserva de valor le permiten superar a sus competidores y aumentar la demanda con el tiempo.\n\nMuchos bienes se han utilizado como dep\u00f3sitos de valor, pero ciertos atributos son particularmente deseables y permiten que estos bienes tengan m\u00e1s \u00e9xito.\n\nUna reserva de valor ideal deber\u00eda ser duradera, port\u00e1til, intercambiable, verificable, divisible, escasa, tener una larga historia y resistente a la censura.\n", + "title": "Algunas reservas de valor son mejores que otras", + "type": "Texto" + }, + { + "answers": [ + "La red que asegura la moneda", + "La manifestaci\u00f3n f\u00edsica de la moneda.", + "La instituci\u00f3n que emite la moneda." + ], + "feedback": [ + "Lo hiciste bien. La red que protege la moneda es un factor importante para determinar su durabilidad, especialmente en el caso de monedas digitales como bitcoin. \u00bfSab\u00edas que bitcoin ha mostrado un alto nivel de \"antifragilidad\" a pesar de los intentos de regularlo y los ataques de los piratas inform\u00e1ticos? Esto es bastante impresionante para una moneda que a\u00fan se encuentra en sus primeras etapas.", + "\u00a1No, lo siento! En realidad, la manifestaci\u00f3n f\u00edsica de la moneda no es tan importante como la instituci\u00f3n que la emite o la red que la protege. Pero no te preocupes, no eres el \u00fanico que comete este error. Incluso los antiguos griegos sol\u00edan acu\u00f1ar sus monedas con materiales perecederos como el bronce y el cobre.", + "\u00a1Cerca, pero no del todo! La instituci\u00f3n que emite la moneda es en realidad un factor importante para determinar su durabilidad. Pero bueno, al menos no est\u00e1s solo en este error. Ha habido muchos gobiernos y monedas que han ido y venido a lo largo de los siglos." + ], + "id": "durabilidad", + "question": "\u00bfCu\u00e1l de los siguientes es un factor importante para determinar la durabilidad de una buena reserva de valor?", + "text": "El bien utilizado como dinero no debe ser perecedero ni destruirse f\u00e1cilmente. El oro es conocido por su durabilidad y, a menudo, se le considera el \"rey\" en este sentido.\n\nUna gran parte del oro que alguna vez se ha extra\u00eddo o acu\u00f1ado, incluido el oro de los faraones, todav\u00eda existe hoy y es probable que permanezca disponible durante muchos a\u00f1os m\u00e1s. Las monedas de oro que se utilizaban como dinero en la antig\u00fcedad todav\u00eda tienen un valor significativo en la actualidad.\n\nLas monedas fiduciarias y los bitcoins son registros digitales que pueden adoptar forma f\u00edsica, como los billetes de papel. Sin embargo, no es la manifestaci\u00f3n f\u00edsica de estas monedas lo que debe considerarse para su durabilidad, sino la durabilidad de la instituci\u00f3n que las emite.\n\nMuchos gobiernos y sus monedas han ido y venido a lo largo de los siglos, mientras que otros, como el d\u00f3lar estadounidense y la libra esterlina, han sobrevivido durante un per\u00edodo de tiempo m\u00e1s largo. Los bitcoins no tienen autoridad de emisi\u00f3n, por lo que su durabilidad depende de la red que los protege. Si bien todav\u00eda es pronto para sacar conclusiones s\u00f3lidas sobre la durabilidad de los bitcoins, hay indicios de que la red ha mostrado un alto nivel de \"antifragilidad\" a pesar de los intentos de regularla y de los ataques de los piratas inform\u00e1ticos.\n", + "title": "La durabilidad es un atributo importante para una buena reserva de valor.", + "type": "Texto" + }, + { + "answers": [ + "Su forma fisica", + "Su capacidad para ser transportado y almacenado f\u00e1cilmente.", + "Su capacidad para facilitar el comercio a larga distancia." + ], + "feedback": [ + "Lo hiciste bien. La forma f\u00edsica del bien no es un factor que lo haga port\u00e1til. De hecho, las monedas digitales como bitcoin son las reservas de valor m\u00e1s port\u00e1tiles porque pueden almacenarse f\u00e1cilmente en un dispositivo peque\u00f1o y transmitirse r\u00e1pidamente a largas distancias. \u00bfSab\u00edas que las claves privadas que representan cientos de millones de d\u00f3lares pueden almacenarse en una peque\u00f1a unidad USB y transportarse f\u00e1cilmente a cualquier parte con bitcoin? Eso es bastante impresionante", + "Lo siento, \u00a1eso es incorrecto! La capacidad de ser transportado y almacenado f\u00e1cilmente es en realidad un factor importante que hace que una buena reserva de valor sea port\u00e1til. Pero no te preocupes, es un error com\u00fan. Despu\u00e9s de todo, \u00bfqui\u00e9n no querr\u00eda llevar consigo una vaca como reserva de valor? Al menos ser\u00eda un inicio de conversaci\u00f3n bastante impresionante.", + "\u00a1Ups, esa no es la respuesta correcta! La capacidad de facilitar el comercio a larga distancia es en realidad un factor importante que hace que una buena reserva de valor sea port\u00e1til. Pero bueno, al menos no est\u00e1s solo en este error. Es f\u00e1cil ver c\u00f3mo alguien podr\u00eda pensar que las vacas son la perfecta reserva port\u00e1til de valor, dada su capacidad para producir leche y carne." + ], + "id": "portabilidad", + "question": "\u00bfCu\u00e1l de los siguientes NO es un factor que hace que una buena reserva de valor sea port\u00e1til?", + "text": "\n\"Portabilidad\" se refiere a lo f\u00e1cil que es mover o transportar una mercanc\u00eda de un lugar a otro.\n\nLos bitcoins son muy port\u00e1tiles, lo que permite un f\u00e1cil almacenamiento en una peque\u00f1a unidad USB y una r\u00e1pida transmisi\u00f3n a largas distancias. De manera similar, las monedas fiduciarias tambi\u00e9n son digitales y, por lo tanto, port\u00e1tiles, pero las regulaciones gubernamentales y los controles de capital pueden dificultar o imposibilitar grandes transferencias de valor.\n\nPor otro lado, el oro, al tener una forma f\u00edsica y ser muy denso, es el dep\u00f3sito de valor menos port\u00e1til: la mayor\u00eda de los lingotes nunca se transportan y la transferencia de oro f\u00edsico es costosa, arriesgada y requiere mucho tiempo.\n", + "title": "El bien debe ser f\u00e1cil de transportar y almacenar.", + "type": "Texto" + }, + { + "answers": [ + "La forma y calidad de los diamantes son irregulares.", + "El oro es m\u00e1s valioso que los diamantes.", + "El oro es m\u00e1s abundante que los diamantes." + ], + "feedback": [ + "\u00a1Exactamente**!** La forma irregular y la calidad de los diamantes los hace menos intercambiables que el oro, por lo que el oro se considera m\u00e1s fungible. \u00bfSab\u00edas tambi\u00e9n que bitcoin se considera fungible a nivel de red, pero su trazabilidad en la cadena de bloques a veces puede llevar a que los comerciantes o las bolsas lo traten como no fungible?", + "\u00a1Respuesta incorrecta! El oro puede ser m\u00e1s valioso que los diamantes, pero esa no es la raz\u00f3n principal por la que se considera m\u00e1s fungible. Parece que necesitas repasar tus conocimientos sobre fungibilidad", + "\u00a1No, lo siento! Si bien el oro puede ser m\u00e1s abundante que los diamantes, esa no es la raz\u00f3n principal por la que se considera m\u00e1s fungible. \u00a1Mejor suerte la pr\u00f3xima vez!" + ], + "id": "fungibilidad", + "question": "\u00bfCu\u00e1l es la raz\u00f3n principal por la que el oro se considera m\u00e1s fungible que los diamantes?", + "text": "\n\"Fungibilidad\" significa que una unidad de una moneda es intercambiable con otra unidad de la misma moneda. Este es un atributo importante para una buena reserva de valor.\n\nEl oro es una reserva de valor altamente fungible, ya que cuando se funde, una onza de oro es esencialmente indistinguible de cualquier otra. Las monedas fiduciarias, por otro lado, pueden no ser siempre completamente fungibles, ya que sus instituciones emisoras pueden tratar las diferentes denominaciones de manera diferente.\n\nAl igual que el oro, las unidades de bitcoin son fungibles, pero tienen algunos matices. Profundizaremos en esto en un cap\u00edtulo posterior.\n", + "title": "Un esp\u00e9cimen debe ser intercambiable con otro de igual cantidad.", + "type": "Texto" + }, + { + "answers": [ + "Mediante el uso de firmas criptogr\u00e1ficas", + "Comprobando si hay tungsteno chapado en oro.", + "Comprobando las caracter\u00edsticas de los billetes para evitar la falsificaci\u00f3n" + ], + "feedback": [ + "\u00a1Felicidades! Est\u00e1s en lo correcto. Bitcoin se puede verificar con certeza matem\u00e1tica mediante firmas criptogr\u00e1ficas", + "Lo siento, pero eso no est\u00e1 del todo bien. Mejor suerte la pr\u00f3xima vez", + "\u00a1Equivocado! Bitcoin es puramente digital y no utiliza billetes. \u00a1Intentar otra vez!" + ], + "id": "verificabilidad", + "question": "\u00bfC\u00f3mo se puede verificar bitcoin?", + "text": "Es importante que una buena reserva de valor sea f\u00e1cilmente verificable como aut\u00e9ntica. Esto aumenta la confianza en el comercio y la probabilidad de que se complete una transacci\u00f3n.\n\nTanto las monedas fiduciarias como el oro son generalmente f\u00e1ciles de verificar, pero no son infalibles. En el pasado se han utilizado billetes falsos y tungsteno chapado en oro para enga\u00f1ar a la gente.\n\nPor otro lado, el uso de la criptograf\u00eda hace que la verificaci\u00f3n de bitcoin sea muy sencilla y hace imposible la falsificaci\u00f3n.\n", + "title": "El bien debe ser f\u00e1cil de identificar y verificar r\u00e1pidamente como aut\u00e9ntico.", + "type": "Texto" + }, + { + "answers": [ + "Oro", + "bitc\u00f3in", + "moneda fiduciaria" + ], + "feedback": [ + "Est\u00e1s en lo correcto. El oro es dif\u00edcil de dividir en peque\u00f1as cantidades para el comercio diario. \u00bfSab\u00edas que el oro se ha utilizado como dep\u00f3sito de valor durante miles de a\u00f1os debido a su rareza y durabilidad?", + "Lo siento, pero eso no est\u00e1 del todo bien. Bitcoin es altamente divisible en su unidad base 'satoshi', e incluso se puede dividir en mili-satoshis (1\/1000 de satoshi) en Lightning Network.", + "No**.** Si bien las monedas fiduciarias no son tan divisibles como bitcoin, son f\u00e1cilmente divisibles en denominaciones m\u00e1s peque\u00f1as." + ], + "id": "divisibilidad", + "question": "\u00bfCu\u00e1l de los siguientes NO es una buena reserva de valor debido a su dificultad para dividirse f\u00e1cilmente para el comercio diario?", + "text": "La capacidad de dividir un bien es un atributo importante para que sea una buena reserva de valor.\n\nImagina que tienes un billete de 100 d\u00f3lares y quieres comprar un paquete de chicle que cuesta 10 centavos. El \u00e9xito de la operaci\u00f3n depende de que el vendedor tenga $99,90 de cambio disponibles en ese momento.\n\nEn sociedades donde prevalece el comercio, la capacidad de dividir un bien en cantidades m\u00e1s peque\u00f1as permite un intercambio m\u00e1s preciso y puede facilitar su uso en las transacciones diarias.\n\nBitcoin es particularmente \u00fatil en este sentido, ya que puede dividirse hasta una cienmillon\u00e9sima parte de una unidad y transmitirse en cantidades peque\u00f1as y exactas.\n\nLas monedas fiduciarias suelen ser divisibles hasta el cambio de bolsillo, que tiene poco poder adquisitivo, lo que hace que las monedas fiduciarias sean bastante divisibles en la pr\u00e1ctica.\n\nEl oro, aunque f\u00edsicamente divisible, puede resultar dif\u00edcil de utilizar en peque\u00f1as cantidades para el comercio diario.\n", + "title": "El bien debe ser f\u00e1cil de subdividir.", + "type": "Texto" + }, + { + "answers": [ + "Escasez", + "Abundancia", + "Facilidad de producci\u00f3n" + ], + "feedback": [ + "\u00a1Felicidades! Est\u00e1s en lo correcto. \u00bfSab\u00edas que solo habr\u00e1 un m\u00e1ximo de 21 millones de bitcoins en circulaci\u00f3n, lo que lo convierte en un activo escaso y valioso?", + "Lo sentimos, pero la abundancia no es el atributo m\u00e1s importante de una reserva de valor. Mejor suerte la pr\u00f3xima vez", + "Lo sentimos, pero la facilidad de producci\u00f3n no es el atributo m\u00e1s importante de una reserva de valor. \u00a1Mejor suerte la pr\u00f3xima vez!" + ], + "id": "escaso", + "question": "\u00bfCu\u00e1l es el atributo m\u00e1s importante de una reserva de valor?", + "text": "Una buena reserva de valor debe tener una oferta limitada o ser escasa.\n\nEsto se debe a que la escasez puede crear valor, ya que la gente suele desear art\u00edculos raros o dif\u00edciles de conseguir. Bitcoin, por ejemplo, est\u00e1 dise\u00f1ado para tener un m\u00e1ximo de 21 millones de unidades, lo que le da a cada propietario un porcentaje conocido del suministro total posible.\n\nPor el contrario, la oferta de oro puede aumentar potencialmente mediante nuevos m\u00e9todos de extracci\u00f3n, y las monedas fiduciarias suelen ser propensas a la inflaci\u00f3n, lo que lleva a una disminuci\u00f3n de su valor con el tiempo.\n", + "title": "Un bien monetario debe escasear", + "type": "Texto" + }, + { + "answers": [ + "El reci\u00e9n llegado tiene una ventaja significativa sobre el bien establecido.", + "El bien establecido tiene una historia m\u00e1s larga de ser valorado por la sociedad.", + "La nueva llegada es m\u00e1s barata de producir." + ], + "feedback": [ + "Est\u00e1s en lo correcto. Es menos probable que un dep\u00f3sito de valor establecido desde hace mucho tiempo sea desplazado por un nuevo producto, a menos que \u00e9ste tenga una ventaja significativa sobre el bien establecido.", + "Lo sentimos, pero esta es en realidad la raz\u00f3n por la que es menos probable que una reserva de valor establecida desde hace mucho tiempo sea desplazada. Mejor suerte la pr\u00f3xima vez", + "No, mal. \u00bfNo prestaste atenci\u00f3n en la lecci\u00f3n anterior sobre la escasez?" + ], + "id": "establecidoHistoria", + "question": "\u00bfCu\u00e1l es la raz\u00f3n principal por la que una reserva de valor establecida desde hace mucho tiempo podr\u00eda ser desplazada por una nueva llegada?", + "text": "Esto se debe a que es menos probable que un dep\u00f3sito de valor bien establecido sea desplazado por un reci\u00e9n llegado, a menos que tenga una ventaja significativa sobre el bien establecido.\n\nAdem\u00e1s, las personas son criaturas de h\u00e1bitos y seguir\u00e1n utilizando lo que ya saben.\n\nEl oro, por ejemplo, tiene una larga historia de valoraci\u00f3n y ha mantenido su valor a lo largo del tiempo. Por el contrario, las monedas fiduciarias, que son una invenci\u00f3n relativamente reciente, tienden a perder valor con el tiempo debido a la inflaci\u00f3n.\n\nBitcoin, aunque lleva poco tiempo en el mercado, ha demostrado resistencia en el mercado y es probable que siga valor\u00e1ndose.\n", + "title": "Una historia establecida de ser valorado por la sociedad.", + "type": "Texto" + }, + { + "answers": [ + "Su red descentralizada de igual a igual", + "Su naturaleza fisica", + "Su regulaci\u00f3n por estados" + ], + "feedback": [ + "Est\u00e1s en lo correcto. La red descentralizada de igual a igual de Bitcoin permite que se realicen transacciones sin permiso, lo que la convierte en un bien resistente a la censura.", + "No. De hecho, los bienes f\u00edsicos a menudo requieren permiso para cruzar fronteras y pueden ser confiscados f\u00e1cilmente. Mejor suerte la pr\u00f3xima vez", + "Lo siento, pero en realidad es todo lo contrario. El sistema bancario fiduciario, que est\u00e1 regulado por los estados, requiere intervenci\u00f3n humana para informar e impedir ciertos usos de bienes monetarios, lo que lo hace propenso a la censura. \u00a1Intentar otra vez!" + ], + "id": "censuraResistencia", + "question": "\u00bfCu\u00e1l de las siguientes NO es una raz\u00f3n por la que Bitcoin se considera un bien resistente a la censura?", + "text": "La resistencia a la censura es un atributo que se ha vuelto cada vez m\u00e1s importante en la era digital, ya que se refiere a la dificultad que tienen partes externas, como corporaciones o gobiernos, para impedir que un individuo utilice un bien en particular.\n\nEste atributo es particularmente valioso para las personas que viven bajo reg\u00edmenes que imponen controles de capital o proh\u00edben ciertas formas de comercio. A menudo se cita a Bitcoin como un bien resistente a la censura debido a su red descentralizada de igual a igual, que permite realizar transacciones sin intervenci\u00f3n o permiso humano.\n\nPor el contrario, el sistema bancario fiduciario est\u00e1 regulado por los estados y requiere intervenci\u00f3n humana para informar e impedir ciertos usos de bienes monetarios, como los controles de capital.\n\nEl oro, aunque no es emitido por los estados, puede ser dif\u00edcil de transmitir a distancia y, por lo tanto, est\u00e1 m\u00e1s sujeto a la regulaci\u00f3n estatal.\n", + "title": "No se requiere permiso", + "type": "Texto" + } + ], + "meta": { + "id": "Atributos de un buen almac\u00e9n de valor", + "title": "Atributos de una buena reserva de valor" + } +} \ No newline at end of file diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.01-lesson-what-is-good-sov.json b/chapter-202-attributes-of-a-good-store-of-value/202.01-lesson-what-is-good-sov.json new file mode 100644 index 0000000..a25d712 --- /dev/null +++ b/chapter-202-attributes-of-a-good-store-of-value/202.01-lesson-what-is-good-sov.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Durability, portability, interchangeability, verifiability, divisibility, scarcity, long history, and resistance to censorship", + "Tastiness, cuteness, softness, and Instagram-ability", + "Rarity, beauty, and sentimental value" + ], + "feedback": [ + "Yes! A good store of value should have attributes such as durability, portability, interchangeability, verifiability, divisibility, scarcity, a long history, and resistance to censorship. These characteristics make it easier to use as a medium of exchange and store of value, and increase its demand over time", + "Sorry, that is not the correct answer. While tastiness, cuteness, softness, and Instagram-ability may be desirable qualities in other contexts, they are not typically considered important attributes for a store of value", + "I'm afraid that is not the correct answer. While rarity, beauty, and sentimental value may make an item valuable to a particular individual, they are not typically considered important attributes for a store of value that is widely accepted and used as a medium of exchange." + ], + "id": "whatIsGoodSOV", + "question": "What are some attributes that make a good store of value", + "text": "When stores of value compete with each other, the attributes that make a good store of value allow it to outperform its competitors and increase demand over time.\n\nMany goods have been used as stores of value but certain attributes are particularly desirable and allow these goods to be more successful.\n\nAn ideal store of value should be durable, portable, interchangeable, verifiable, divisible, scarce, have a long history, and resistant to censorship.\n", + "title": "Some stores of value are better than others", + "type": "Text" +} diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.02-lesson-durability.json b/chapter-202-attributes-of-a-good-store-of-value/202.02-lesson-durability.json new file mode 100644 index 0000000..5249974 --- /dev/null +++ b/chapter-202-attributes-of-a-good-store-of-value/202.02-lesson-durability.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The network that secures the currency", + "The physical manifestation of the currency", + "The institution that issues the currency" + ], + "feedback": [ + "You got it right. The network that secures the currency is an important factor in determining its durability, especially for digital currencies like bitcoin. Did you know that bitcoin has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers? That's quite impressive for a currency that's still in its early stages", + "Nope, sorry! The physical manifestation of the currency is actually not as important as the institution that issues it or the network that secures it. Don't worry though, you're not alone in making this mistake. Even the Ancient Greeks used to mint their coins out of perishable materials like bronze and copper", + "Close, but not quite! The institution that issues the currency is actually an important factor in determining its durability. But hey, at least you're not alone in this mistake. There have been many governments and currencies that have come and gone over the centuries." + ], + "id": "durability", + "question": "Which of the following is an important factor in determining the durability of a good store of value", + "text": "The good used as money should not be perishable or easily destroyed. Gold is known for its durability and is often considered the \"king\" in this regard.\n\nA large portion of the gold that has ever been mined or minted, including the gold of the Pharaohs, still exists today and is likely to remain available for many more years. Gold coins that were used as money in ancient times still hold significant value today.\n\nFiat currencies and bitcoins are digital records that may take physical form, such as paper bills. However, it is not the physical manifestation of these currencies that should be considered for their durability, but rather the durability of the institution that issues them.\n\nMany governments and their currencies have come and gone over the centuries, while others, such as the US dollar and British pound, have survived for a longer period of time. Bitcoins have no issuing authority, so their durability depends on the network that secures them. While it is still early to draw strong conclusions about the durability of bitcoins, there are signs that the network has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers.\n", + "title": "Durability is an important attribute for a good store of value", + "type": "Text" +} diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.03-lesson-portability.json b/chapter-202-attributes-of-a-good-store-of-value/202.03-lesson-portability.json new file mode 100644 index 0000000..e246a88 --- /dev/null +++ b/chapter-202-attributes-of-a-good-store-of-value/202.03-lesson-portability.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Its physical form", + "Its ability to be easily transported and stored", + "Its ability to facilitate long-distance trade" + ], + "feedback": [ + "You got it right. The physical form of the good is not a factor that makes it portable. In fact, digital currencies like bitcoin are the most portable stores of value because they can be easily stored on a small device and transmitted quickly across long distances. Did you know that private keys representing hundreds of millions of dollars can be stored on a tiny USB drive and easily carried anywhere with bitcoin? That's pretty impressive", + "Sorry, that's incorrect! The ability to be easily transported and stored is actually an important factor that makes a good store of value portable. But don't worry, it's a common mistake. After all, who wouldn't want to carry around a cow as a store of value? It would make for a pretty impressive conversation starter at least", + "Oops, that's not the right answer! The ability to facilitate long-distance trade is actually an important factor that makes a good store of value portable. But hey, at least you're not alone in this mistake. It's easy to see how someone might think that cows are the perfect portable store of value, given their ability to produce milk and beef." + ], + "id": "portability", + "question": "Which of the following is NOT a factor that makes a good store of value portable", + "text": "\n\"Portability\" refers to how easy it is to move or transport a good from one place to another.\n\nBitcoins are highly portable, allowing for easy storage on a small USB drive and quick transmission across long distances. Similarly, fiat currencies are also digital and therefore portable, but government regulations and capital controls can make large transfers of value difficult or impossible.\n\nOn the other hand, gold, being physical in form and very dense, is the least portable store of value, with the majority of bullion never being transported and the transfer of physical gold being costly, risky, and time-consuming.\n", + "title": "The good must be easy to transport and store", + "type": "Text" +} diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.04-lesson-fungibility.json b/chapter-202-attributes-of-a-good-store-of-value/202.04-lesson-fungibility.json new file mode 100644 index 0000000..80d7c6e --- /dev/null +++ b/chapter-202-attributes-of-a-good-store-of-value/202.04-lesson-fungibility.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The shape and quality of diamonds are irregular", + "Gold is more valuable than diamonds", + "Gold is more abundant than diamonds" + ], + "feedback": [ + "Exactly**!** The irregular shape and quality of diamonds makes them less interchangeable than gold, which is why gold is considered more fungible. Did you also know that bitcoin is considered fungible at the network level, but its traceability on the blockchain can sometimes lead to it being treated as non-fungible by merchants or exchanges", + "Wrong answer! Gold may be more valuable than diamonds, but that's not the main reason it's considered more fungible. Looks like you need to brush up on your fungibility knowledge", + "Nope, sorry! While gold may be more abundant than diamonds, that's not the main reason it's considered more fungible. Better luck next time!" + ], + "id": "fungibility", + "question": "What is the main reason that gold is considered more fungible than diamonds", + "text": "\n\"Fungibility\" means that one unit of a currency is interchangeable with another unit of the same currency. This is an important attribute for a good store of value.\n\nGold is a highly fungible store of value, as when melted down, an ounce of gold is essentially indistinguishable from any other. Fiat currencies, on the other hand, may not always be completely fungible, as their issuing institutions may treat different denominations differently.\n\nLike gold, units of bitcoin are fungible, but there are some nuances to it. We'll dive into this in a later chapter.\n", + "title": "One specimen should be interchangeable with another of equal quantity", + "type": "Text" +} diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.05-lesson-verifiability.json b/chapter-202-attributes-of-a-good-store-of-value/202.05-lesson-verifiability.json new file mode 100644 index 0000000..d16dfd2 --- /dev/null +++ b/chapter-202-attributes-of-a-good-store-of-value/202.05-lesson-verifiability.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "By using cryptographic signatures", + "By checking for gold-plated tungsten", + "By checking for features on banknotes to prevent counterfeiting" + ], + "feedback": [ + "Congratulations! You are correct. Bitcoin can be verified with mathematical certainty using cryptographic signatures", + "Sorry, but that's not quite right. Better luck next time", + "Wrong! Bitcoin is purely digital and doesn't utilize banknotes. Try again!" + ], + "id": "verifiability", + "question": "How can bitcoin be verified", + "text": "It is important for a good store of value to be easily verifiable as authentic. This increases confidence in trade and the likelihood that a transaction will be completed.\n\nBoth fiat currencies and gold are generally easy to verify, but they are not foolproof. Counterfeit bills and gold-plated tungsten have been used to deceive people in the past.\n\nOn the other hand, the use of cryptography makes verification very easy for bitcoin and makes counterfeiting impossible.\n", + "title": "The good must be easy to quickly identify and verify as authentic", + "type": "Text" +} diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.06-lesson-divisibility.json b/chapter-202-attributes-of-a-good-store-of-value/202.06-lesson-divisibility.json new file mode 100644 index 0000000..7f70fae --- /dev/null +++ b/chapter-202-attributes-of-a-good-store-of-value/202.06-lesson-divisibility.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Gold", + "Bitcoin", + "Fiat currency" + ], + "feedback": [ + "You are correct. Gold is difficult divide into small quantities for everyday trade. Did you know that gold has been used as a store of value for thousands of years due to its rarity and durability", + "Sorry, but that's not quite right. Bitcoin is highly divisible into its base unit 'satoshi', and it can even be divided into milli-satoshis (1/1000 of a satoshi) on the Lightning Network", + "Nope**.** While fiat currencies are not as divisible as bitcoin, they are easily divisible into smaller denominations." + ], + "id": "divisibility", + "question": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade", + "text": "The ability to divide a good is an important attribute for it to be a good store of value.\n\nImagine you have a $100 bill and want to buy a pack of chewing gum that costs 10 cents. The success of the trade depends on the seller having $99.90 in change available in that moment.\n\nIn societies where trade is prevalent, the ability to divide a good into smaller quantities allows for more precise exchange and can make it easier to use in day-to-day transactions.\n\nBitcoin is particularly useful in this regard, as it can be divided down to a hundred millionth of a unit and transmitted in tiny and exact amounts.\n\nFiat currencies are typically divisible down to pocket change, which has little purchasing power, making fiat divisible enough in practice.\n\nGold, while physically divisible, can be difficult to use in small quantities for everyday trade.\n", + "title": "The good must be easy to subdivide", + "type": "Text" +} diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.07-lesson-scarce.json b/chapter-202-attributes-of-a-good-store-of-value/202.07-lesson-scarce.json new file mode 100644 index 0000000..bc14c96 --- /dev/null +++ b/chapter-202-attributes-of-a-good-store-of-value/202.07-lesson-scarce.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Scarcity", + "Abundance", + "Ease of production" + ], + "feedback": [ + "Congratulations! You are correct. Did you know that there will only ever be a maximum of 21 million bitcoins in circulation, making it a scarce and valuable asset", + "Sorry, but abundance is not the most important attribute for a store of value. Better luck next time", + "Sorry, but ease of production is not the most important attribute for a store of value. Better luck next time!" + ], + "id": "scarce", + "question": "What is the most important attribute of a store of value", + "text": "A good store of value should have a limited supply, or be scarce.\n\nThis is because scarcity can create value, as people often desire rare or hard-to-obtain items. Bitcoin, for instance, is designed to have a maximum of 21 million units, which gives each owner a known percentage of the total possible supply.\n\nIn contrast, the supply of gold can potentially increase through new mining methods, and fiat currencies are often prone to inflation, leading to a decline in value over time.\n", + "title": "A monetary good must scarce", + "type": "Text" +} diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.08-lesson-established-history.json b/chapter-202-attributes-of-a-good-store-of-value/202.08-lesson-established-history.json new file mode 100644 index 0000000..c780447 --- /dev/null +++ b/chapter-202-attributes-of-a-good-store-of-value/202.08-lesson-established-history.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The new arrival has a significant advantage over the established good", + "The established good has a longer history of being valued by society", + "The new arrival is cheaper to produce" + ], + "feedback": [ + "You are correct. A long-established store of value is less likely to be displaced by a new arrival unless the new arrival has a significant advantage over the established good", + "Sorry, but this is actually the reason that a long-established store of value is less likely to be displaced. Better luck next time", + "Nope, wrong. Did you not pay attention in the previous lesson on scarcity?" + ], + "id": "establishedHistory", + "question": "What is the main reason that a long-established store of value could be displaced by a new arrival", + "text": "This is because a well-established store of value is less likely to be displaced by a newcomer, unless it has a significant advantage over the established good.\n\nAdditionally, people are creatures of habit and will keep using what they already know.\n\nGold, for example, has a long history of being valued and has maintained its value over time. In contrast, fiat currencies, which are a relatively recent invention, have a tendency to lose value over time due to inflation.\n\nBitcoin, although it has only been around for a short time, has shown resilience in the market and is likely to continue to be valued.\n", + "title": "An established history of being valued by society", + "type": "Text" +} diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.09-lesson-censorship-resistance.json b/chapter-202-attributes-of-a-good-store-of-value/202.09-lesson-censorship-resistance.json new file mode 100644 index 0000000..200604f --- /dev/null +++ b/chapter-202-attributes-of-a-good-store-of-value/202.09-lesson-censorship-resistance.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Its decentralized, peer-to-peer network", + "Its physical nature", + "Its regulation by states" + ], + "feedback": [ + "You are correct. The decentralized, peer-to-peer network of Bitcoin allows for transactions to be made without permission, making it a censorship-resistant good", + "No. In fact, physical goods often require permission to cross borders and can easily be confiscated. Better luck next time", + "Sorry, but the opposite is actually true. The fiat banking system, which is regulated by states, requires human intervention to report and prevent certain uses of monetary goods, making it prone to censorship. Try again!" + ], + "id": "censorshipResistance", + "question": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good", + "text": "Censorship-resistance is an attribute that has become increasingly important in the digital age, as it refers to the difficulty that external parties, such as corporations or governments, have in preventing an individual from using a particular good.\n\nThis attribute is particularly valuable for individuals living under regimes that enforce capital controls or prohibit certain forms of trade. Bitcoin is often cited as being a censorship-resistant good due to its decentralized, peer-to-peer network, which allows for transactions to be made without human intervention or permission.\n\nIn contrast, the fiat banking system is regulated by states and requires human intervention to report and prevent certain uses of monetary goods, such as capital controls.\n\nGold, although it is not issued by states, can be difficult to transmit at a distance and is therefore more subject to state regulation.\n", + "title": "No permission required", + "type": "Text" +} diff --git a/chapter-203-the-evolution-of-money-i/203-combined.json b/chapter-203-the-evolution-of-money-i/203-combined.json new file mode 100644 index 0000000..e0763d4 --- /dev/null +++ b/chapter-203-the-evolution-of-money-i/203-combined.json @@ -0,0 +1,127 @@ +{ + "content": [ + { + "answers": [ + "The use of money as a way to exchange goods and services", + "The history of money's development", + "The exclusive power of governments to create money" + ], + "feedback": [ + "Congrats, you got it right! It's interesting to note that the use of money as a medium of exchange has become more important in modern times due to the rise of electronic payment methods", + "Wrong! But it's good that you're interested in the history of money. Try again", + "Sorry, that's incorrect. It's true that governments do have a lot of control over the creation and issuance of money, but that's not the main focus of modern monetary economics. Try again!" + ], + "id": "evolutionMoney", + "question": "What is the main focus of modern monetary economics", + "text": "In modern times, many people in the field of monetary economics focus on the idea that money is mainly used as a way to exchange goods and services.\n\nIn the past century, however, governments have had the exclusive power to create money and have often made it difficult for money to hold its value. This lead people to believe that the main purpose of money is to be used for exchange.\n\nSome have argued that Bitcoin is not a good form of money because its value tends to change too much to be used effectively in transactions.\n\nHowever, this way of thinking is backwards. Throughout history, the use of money has developed in stages, with its value as a store of value coming before its use as a medium of exchange.\n", + "title": "The Evolution of Money", + "type": "Text" + }, + { + "answers": [ + "Coins made of copper and silver", + "Shells, beads, and gold", + "Paper bills with pictures of famous leaders" + ], + "feedback": [ + "Sorry, that's incorrect. Copper and silver coins were not used as money in the very beginning of its evolution", + "Congratulations, you got it right! It's interesting to note that shells, beads, and gold were all valued for their appearance or special qualities before becoming widely used as money", + "Wrong! But at least you're thinking about the more modern forms of money. Paper bills with pictures of famous leaders were not used in the very beginning of money's evolution." + ], + "id": "collectible", + "question": "What were some examples of early forms of money that were valued for their appearance or special qualities", + "text": "Throughout history, money has gone through four stages of development. In the very beginning, people only wanted money because of its special qualities, and it was mostly seen as a decorative item or a collectible.;\n\nExamples of this include shells, beads, and gold, which were all collectibles before becoming widely used as money.\n", + "title": "Four Stages of Money: Collectible", + "type": "Text" + }, + { + "answers": [ + "The number of people who want it as a store of value", + "The weather", + "The color of the store of value" + ], + "feedback": [ + "Nice work! The purchasing power of a store of value is determined by the number of people who want to use it as a way to store value. As more people want to use it for this purpose, the value of the store of value increases", + "Sorry, the weather is definitely a factor in many things, but it's not quite the right answer for this question. Maybe try looking at other factors that could affect the value of a store of value", + "I'm sorry to say that the color of a store of value probably doesn't have much of an effect on its purchasing power. It's definitely an interesting idea though! Maybe try considering other characteristics that could affect the value of a store of value." + ], + "id": "storeOfValue", + "question": "What determines the purchasing power of a store of value", + "text": "The store of value is the second stage of money's evolution. When enough people want money because of its special qualities, it becomes a way to keep and save value over time, to transport hard earned wealth into the future.\n\nAs more people recognize a good as a good way to store value, the good's value increases as more people want it for this purpose.\n\nEventually, the value of a store of value will stop increasing as it becomes widely held and fewer new people want it as a store of value.\n", + "title": "Four Stages of Money: Store of Value", + "type": "Text" + }, + { + "answers": [ + "The first time bitcoin had market value", + "The invention of pineapple as a pizza topping", + "again" + ], + "feedback": [ + "You got it right. Bitcoin Pizza Day is celebrated to mark the first time that bitcoin had market value, which was when Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. It's an important event in the evolution of bitcoin", + "While pineapple is a beautiful fruit, it has no place on a real pizza! Apart from this side note, your answer is wrong. Try again", + "Sorry, the best pizza recipe is a matter of personal preference. While pizza is always delicious, it's not the focus of Bitcoin Pizza Day. Maybe try considering the significance of the event in the history of bitcoin." + ], + "id": "mediumOfExchange", + "question": "What is Bitcoin Pizza Day celebrated for", + "text": "When money is used to store value, its value becomes stable eventually. And when the value of money is stable, it becomes the best option to facilitate trade as it's easy to use and doesn't have the coordination burden of barter.\n\nIn the early days of Bitcoin in 2010, some people did not recognize the opportunity cost to use Bitcoin as a medium of exchange rather than a nascent store of value.\n\nThere is a famous story about Laszlo Hanyecz who traded 10,000 bitcoins (which were worth about $165 million at the time of this writing) for just two pizzas. When Laszlo acquired those pizzas, it marked the first time that bitcoin had market value.\n\nToday, Laszlo's pizza is celebrated globally on May 22 as Bitcoin Pizza Day as an important step and milestone in the evolution of bitcoin as money.\n", + "title": "Four Stages of Money: Medium of Exchange", + "type": "Text" + }, + { + "answers": [ + "When merchants are willing to accept it as payment without considering the exchange rate with other currencies", + "When it is used to buy ice cream", + "When it is used to play games with friends" + ], + "feedback": [ + "Congrats! For bitcoin to be considered a unit of account, it needs to be widely accepted as a form of payment without regard to its exchange rate with other currencies. This means that merchants would be willing to accept it as payment without considering the value of bitcoin in terms of other currencie", + "I'm sorry, but while ice cream is delicious, it's not quite the right answer. Maybe try considering other factors that could affect the acceptance of bitcoin as a unit of account", + "Playing games with friends is always fun, but unfortunately it's not the correct answer. Maybe try thinking about what it would take for bitcoin to be widely accepted as a form of payment.\"" + ], + "id": "unitOfAccount", + "question": "How can bitcoin be considered a unit of account", + "text": "When money is commonly used for trading, goods are priced in terms of it. This means that most goods can be exchanged for money at a certain rate.\n\nIt is not accurate to say that many goods can be bought with bitcoin today. For example, while a cup of coffee might be available for purchase using bitcoin, the price listed is not the true value of bitcoin. Instead, it is the dollar price that the merchant wants, converted into bitcoin based on the current exchange rate between dollars and bitcoin.\n\nIf the value of bitcoin goes down in terms of dollars, the merchant will ask for more bitcoin to equal the same dollar amount.\n\nBitcoin can only be considered a unit of account (a standard way to measure the value of goods) when merchants are willing to accept it for payment without considering the exchange rate with other currencies.\n", + "title": "Four Stages of Money: Unit of Account", + "type": "Text" + }, + { + "answers": [ + "A good that is not yet widely used as a unit of account", + "A currency that is only accepted in certain countries", + "A good that is used as a medium of exchange but not for storing value or measuring the value of goods" + ], + "feedback": [ + "Congratulations! You've chosen the correct answer. A partly monetized good is one that is not yet widely accepted as a unit of account, which means it is not commonly used as a standard way to measure the value of other goods. This can include goods like gold, which is often used to store value but not typically used for everyday transactions", + "That's a creative answer, but unfortunately not quite right. Better luck next time", + "Not quite correct, but close! Keep thinking." + ], + "id": "partlyMonetized", + "question": "What is the meaning of the term \"partly monetized\"", + "text": "Goods that are not widely accepted as a unit of account may be considered \"partly monetized\" because they are used for some purposes related to money, but not all.\n\nGold is an example of a partly monetized good that is used to store value but is not widely used as a medium of exchange or unit of account. In some countries, different goods may be used for different purposes related to money, such as one good being used as a medium of exchange and another being used as a store of value or unit of account.\n\nThe dollar is an example of a good that is widely used for all three purposes of money in the United States, while the peso was an example of a good that was used as a medium of exchange in Argentina but was not a good store of value because of its volatility and regular loss of purchasing power.\n", + "title": "Partial Monetization", + "type": "Text" + }, + { + "answers": [ + "It is in the process of becoming more widely accepted as money", + "It is currently being used as a way to trade goods and services, like other currencies.", + "It has already completed the process of becoming more widely accepted as money and is now being used as a form of currency." + ], + "feedback": [ + "Bingo! You're right on the money (pun intended) with this answer. Did you know that the process of Bitcoin becoming more widely accepted as money is similar to the process gold went through to become a widely accepted form of currency", + "Ha! You must have missed the part about it taking several years for Bitcoin to reach this stage. Keep reading", + "Sorry to break it to you, but Bitcoin is still in the process of becoming more widely accepted as money. Better luck next time!" + ], + "id": "monetizationStage", + "question": "What is the current stage of Bitcoin's evolution", + "text": "Bitcoin is currently changing from the first stage of being used as money to the second stage. It may take several years for Bitcoin to be used as a way to trade goods and services, like other currencies.\n\nThe process of Bitcoin becoming more widely accepted as money is uncertain, as the same process took a long time for gold and no one alive has seen a good become money in the same way that is happening with Bitcoin. There is not a lot of experience with this process, but developments around the world are very promising and happening faster in the interconnected digital age.\n", + "title": "Bitcoin is in the stage of monetization", + "type": "Text" + } + ], + "meta": { + "id": "TheEvolutionofMoneyI", + "title": "The Evolution of Money I" + } +} diff --git a/chapter-203-the-evolution-of-money-i/203-es-combined.json b/chapter-203-the-evolution-of-money-i/203-es-combined.json new file mode 100644 index 0000000..d470eff --- /dev/null +++ b/chapter-203-the-evolution-of-money-i/203-es-combined.json @@ -0,0 +1,127 @@ +{ + "content": [ + { + "answers": [ + "El uso del dinero como forma de intercambiar bienes y servicios.", + "La historia del desarrollo del dinero.", + "El poder exclusivo de los gobiernos para crear dinero." + ], + "feedback": [ + "\u00a1Felicidades, lo hiciste bien! Es interesante observar que el uso del dinero como medio de cambio se ha vuelto m\u00e1s importante en los tiempos modernos debido al auge de los m\u00e9todos de pago electr\u00f3nicos.", + "\u00a1Equivocado! Pero es bueno que te interese la historia del dinero. Intentar otra vez", + "Lo siento, eso es incorrecto. Es cierto que los gobiernos tienen mucho control sobre la creaci\u00f3n y emisi\u00f3n de dinero, pero ese no es el foco principal de la econom\u00eda monetaria moderna. \u00a1Intentar otra vez!" + ], + "id": "evoluci\u00f3nDinero", + "question": "\u00bfCu\u00e1l es el enfoque principal de la econom\u00eda monetaria moderna?", + "text": "En los tiempos modernos, muchas personas en el campo de la econom\u00eda monetaria se centran en la idea de que el dinero se utiliza principalmente como una forma de intercambiar bienes y servicios.\n\nSin embargo, en el siglo pasado, los gobiernos han tenido el poder exclusivo de crear dinero y, a menudo, han dificultado que el dinero mantenga su valor. Esto lleva a la gente a creer que el objetivo principal del dinero es utilizarlo para el intercambio.\n\nAlgunos han argumentado que Bitcoin no es una buena forma de dinero porque su valor tiende a cambiar demasiado como para usarse de manera efectiva en las transacciones.\n\nSin embargo, esta forma de pensar es al rev\u00e9s. A lo largo de la historia, el uso del dinero se ha desarrollado por etapas, precediendo su valor como dep\u00f3sito de valor a su uso como medio de intercambio.\n", + "title": "La evoluci\u00f3n del dinero", + "type": "Texto" + }, + { + "answers": [ + "Monedas de cobre y plata.", + "Conchas, cuentas y oro.", + "Billetes de papel con fotograf\u00edas de l\u00edderes famosos." + ], + "feedback": [ + "Lo siento, eso es incorrecto. Las monedas de cobre y plata no se utilizaron como dinero al principio de su evoluci\u00f3n.", + "\u00a1Felicitaciones, lo hiciste bien! Es interesante notar que las conchas, las cuentas y el oro fueron valorados por su apariencia o cualidades especiales antes de ser ampliamente utilizados como dinero.", + "\u00a1Equivocado! Pero al menos est\u00e1s pensando en las formas m\u00e1s modernas de dinero. Los billetes de papel con fotograf\u00edas de l\u00edderes famosos no se utilizaron al principio de la evoluci\u00f3n del dinero." + ], + "id": "coleccionable", + "question": "\u00bfCu\u00e1les fueron algunos ejemplos de formas tempranas de dinero que fueron valoradas por su apariencia o cualidades especiales?", + "text": "A lo largo de la historia, el dinero ha pasado por cuatro etapas de desarrollo. Al principio, la gente s\u00f3lo quer\u00eda dinero por sus cualidades especiales, y lo ve\u00edan principalmente como un art\u00edculo decorativo o de colecci\u00f3n.\n\nEjemplos de esto incluyen conchas, cuentas y oro, que eran objetos de colecci\u00f3n antes de ser utilizados ampliamente como dinero.\n", + "title": "Cuatro etapas del dinero: coleccionable", + "type": "Texto" + }, + { + "answers": [ + "La cantidad de personas que lo quieren como reserva de valor.", + "El clima", + "El color de la reserva de valor." + ], + "feedback": [ + "\u00a1Buen trabajo! El poder adquisitivo de una reserva de valor est\u00e1 determinado por la cantidad de personas que quieren utilizarla como una forma de almacenar valor. A medida que m\u00e1s personas quieran utilizarlo para este prop\u00f3sito, el valor de la reserva de valor aumenta.", + "Lo sentimos, el clima definitivamente es un factor en muchas cosas, pero no es la respuesta correcta para esta pregunta. Tal vez intente buscar otros factores que podr\u00edan afectar el valor de una reserva de valor.", + "Lamento decir que el color de una reserva de valor probablemente no tenga mucho efecto en su poder adquisitivo. \u00a1Definitivamente es una idea interesante! Tal vez intente considerar otras caracter\u00edsticas que podr\u00edan afectar el valor de una reserva de valor." + ], + "id": "dep\u00f3sito de valor", + "question": "\u00bfQu\u00e9 determina el poder adquisitivo de una reserva de valor?", + "text": "La reserva de valor es la segunda etapa de la evoluci\u00f3n del dinero. Cuando un n\u00famero suficiente de personas quiere dinero debido a sus cualidades especiales, \u00e9ste se convierte en una forma de conservar y ahorrar valor a lo largo del tiempo, de transportar hacia el futuro la riqueza ganada con tanto esfuerzo.\n\nA medida que m\u00e1s personas reconocen un bien como una buena forma de almacenar valor, el valor del bien aumenta a medida que m\u00e1s personas lo desean para este prop\u00f3sito.\n\nCon el tiempo, el valor de una reserva de valor dejar\u00e1 de aumentar a medida que se generalice y menos gente nueva la quiera como reserva de valor.\n", + "title": "Cuatro etapas del dinero: dep\u00f3sito de valor", + "type": "Texto" + }, + { + "answers": [ + "La primera vez que bitcoin tuvo valor de mercado", + "La invenci\u00f3n de la pi\u00f1a como aderezo para la pizza", + "de nuevo" + ], + "feedback": [ + "Lo hiciste bien. El Bitcoin Pizza Day se celebra para marcar la primera vez que bitcoin tuvo valor de mercado, que fue cuando Laszlo Hanyecz intercambi\u00f3 10.000 bitcoins por dos pizzas. Es un evento importante en la evoluci\u00f3n de bitcoin.", + "Si bien la pi\u00f1a es una fruta hermosa, \u00a1no tiene cabida en una pizza real! Aparte de esta nota al margen, su respuesta es incorrecta. Intentar otra vez", + "Lo sentimos, la mejor receta de pizza es una cuesti\u00f3n de preferencia personal. Si bien la pizza siempre es deliciosa, no es el tema central del Bitcoin Pizza Day. Quiz\u00e1s intente considerar la importancia del evento en la historia de bitcoin." + ], + "id": "medio de intercambio", + "question": "\u00bfPor qu\u00e9 se celebra el D\u00eda de la Pizza Bitcoin?", + "text": "Cuando el dinero se utiliza para almacenar valor, su valor eventualmente se estabiliza. Y cuando el valor del dinero es estable, se convierte en la mejor opci\u00f3n para facilitar el comercio, ya que es f\u00e1cil de usar y no conlleva la carga de coordinaci\u00f3n del trueque.\n\nEn los primeros d\u00edas de Bitcoin en 2010, algunas personas no reconocieron el costo de oportunidad de utilizar Bitcoin como medio de intercambio en lugar de como una incipiente reserva de valor.\n\nHay una historia famosa sobre Laszlo Hanyecz que intercambi\u00f3 10.000 bitcoins (que val\u00edan alrededor de 165 millones de d\u00f3lares en el momento de escribir este art\u00edculo) por s\u00f3lo dos pizzas. Cuando Laszlo adquiri\u00f3 esas pizzas, fue la primera vez que bitcoin tuvo valor de mercado.\n\nHoy, la pizza de Laszlo se celebra a nivel mundial el 22 de mayo como el D\u00eda de la Pizza Bitcoin como un paso importante y un hito en la evoluci\u00f3n de bitcoin como dinero.\n", + "title": "Cuatro etapas del dinero: medio de cambio", + "type": "Texto" + }, + { + "answers": [ + "Cuando los comerciantes est\u00e1n dispuestos a aceptarlo como pago sin considerar el tipo de cambio con otras monedas.", + "Cuando se utiliza para comprar helado.", + "Cuando se usa para jugar con amigos." + ], + "feedback": [ + "\u00a1Felicitaciones! Para que bitcoin sea considerado una unidad de cuenta, debe ser ampliamente aceptado como forma de pago independientemente de su tipo de cambio con otras monedas. Esto significa que los comerciantes estar\u00edan dispuestos a aceptarlo como pago sin considerar el valor del bitcoin en t\u00e9rminos de otras monedas.", + "Lo siento, pero si bien el helado es delicioso, no es la respuesta correcta. Quiz\u00e1s intente considerar otros factores que podr\u00edan afectar la aceptaci\u00f3n de bitcoin como unidad de cuenta.", + "Jugar con amigos siempre es divertido, pero lamentablemente no es la respuesta correcta. Tal vez intente pensar en lo que se necesitar\u00eda para que bitcoin sea ampliamente aceptado como forma de pago\"." + ], + "id": "unidad de cuenta", + "question": "\u00bfC\u00f3mo se puede considerar bitcoin como una unidad de cuenta?", + "text": "Cuando el dinero se utiliza habitualmente para el comercio, los precios de los bienes se fijan en t\u00e9rminos de ese dinero. Esto significa que la mayor\u00eda de los bienes se pueden cambiar por dinero a un tipo de cambio determinado.\n\nNo es exacto decir que hoy en d\u00eda se pueden comprar muchos bienes con bitcoin. Por ejemplo, si bien se puede comprar una taza de caf\u00e9 usando bitcoin, el precio indicado no es el valor real de bitcoin. En cambio, es el precio en d\u00f3lares lo que quiere el comerciante, convertido a bitcoin seg\u00fan el tipo de cambio actual entre d\u00f3lares y bitcoin.\n\nSi el valor de bitcoin baja en t\u00e9rminos de d\u00f3lares, el comerciante pedir\u00e1 m\u00e1s bitcoin para igualar la misma cantidad en d\u00f3lares.\n\nBitcoin s\u00f3lo puede considerarse una unidad de cuenta (una forma est\u00e1ndar de medir el valor de los bienes) cuando los comerciantes est\u00e1n dispuestos a aceptarlo como pago sin considerar el tipo de cambio con otras monedas.\n", + "title": "Cuatro etapas del dinero: unidad de cuenta", + "type": "Texto" + }, + { + "answers": [ + "Un bien que a\u00fan no se utiliza ampliamente como unidad de cuenta.", + "Una moneda que s\u00f3lo se acepta en ciertos pa\u00edses.", + "Un bien que se utiliza como medio de intercambio pero no para almacenar valor o medir el valor de los bienes." + ], + "feedback": [ + "\u00a1Felicidades! Has elegido la respuesta correcta. Un bien parcialmente monetizado es aquel que a\u00fan no es ampliamente aceptado como unidad de cuenta, lo que significa que no se usa com\u00fanmente como forma est\u00e1ndar de medir el valor de otros bienes. Esto puede incluir bienes como el oro, que a menudo se utiliza para almacenar valor pero no suele utilizarse para transacciones cotidianas.", + "Esa es una respuesta creativa, pero lamentablemente no del todo correcta. Mejor suerte la pr\u00f3xima vez", + "\u00a1No del todo correcto, pero cerca! Sigue pensando." + ], + "id": "parcialmente monetizado", + "question": "\u00bfCu\u00e1l es el significado del t\u00e9rmino \"parcialmente monetizado\"?", + "text": "Los bienes que no son ampliamente aceptados como unidad de cuenta pueden considerarse \"parcialmente monetizados\" porque se utilizan para algunos fines relacionados con el dinero, pero no para todos.\n\nEl oro es un ejemplo de un bien parcialmente monetizado que se utiliza para almacenar valor pero no se utiliza ampliamente como medio de cambio o unidad de cuenta. En algunos pa\u00edses, se pueden usar diferentes bienes para diferentes prop\u00f3sitos relacionados con el dinero, como que un bien se use como medio de cambio y otro como dep\u00f3sito de valor o unidad de cuenta.\n\nEl d\u00f3lar es un ejemplo de un bien que se usa ampliamente para los tres prop\u00f3sitos del dinero en los Estados Unidos, mientras que el peso fue un ejemplo de un bien que se us\u00f3 como medio de cambio en Argentina pero no era una buena reserva de valor. debido a su volatilidad y p\u00e9rdida regular de poder adquisitivo.\n", + "title": "Monetizaci\u00f3n parcial", + "type": "Texto" + }, + { + "answers": [ + "Est\u00e1 en proceso de ser m\u00e1s aceptado como dinero.", + "Actualmente se utiliza como una forma de intercambiar bienes y servicios, al igual que otras monedas.", + "Ya ha completado el proceso de ser m\u00e1s aceptado como dinero y ahora se est\u00e1 utilizando como forma de moneda." + ], + "feedback": [ + "\u00a1Bingo! Tienes raz\u00f3n (juego de palabras) con esta respuesta. \u00bfSab\u00edas que el proceso por el que Bitcoin se vuelve m\u00e1s aceptado como dinero es similar al proceso por el que pas\u00f3 el oro para convertirse en una forma de moneda ampliamente aceptada?", + "\u00a1Ja! Debes haberte perdido la parte de que Bitcoin tard\u00f3 varios a\u00f1os en llegar a esta etapa. Sigue leyendo", + "Lamento dec\u00edrtelo, pero Bitcoin todav\u00eda est\u00e1 en el proceso de ser m\u00e1s aceptado como dinero. \u00a1Mejor suerte la pr\u00f3xima vez!" + ], + "id": "Etapa de monetizaci\u00f3n", + "question": "\u00bfCu\u00e1l es la etapa actual de la evoluci\u00f3n de Bitcoin?", + "text": "Actualmente, Bitcoin est\u00e1 pasando de la primera etapa de uso como dinero a la segunda etapa. Pueden pasar varios a\u00f1os antes de que Bitcoin se utilice como una forma de intercambiar bienes y servicios, como otras monedas.\n\nEl proceso de que Bitcoin se vuelva m\u00e1s aceptado como dinero es incierto, ya que el mismo proceso tom\u00f3 mucho tiempo para el oro y nadie vivo ha visto un bien convertirse en dinero de la misma manera que est\u00e1 sucediendo con Bitcoin. No hay mucha experiencia con este proceso, pero los avances en todo el mundo son muy prometedores y ocurren m\u00e1s r\u00e1pidamente en la era digital interconectada.\n", + "title": "Bitcoin est\u00e1 en la etapa de monetizaci\u00f3n", + "type": "Texto" + } + ], + "meta": { + "id": "La evoluci\u00f3n del dinero I", + "title": "La evoluci\u00f3n del dinero I" + } +} \ No newline at end of file diff --git a/chapter-203-the-evolution-of-money-i/203.01-lesson-evolution-money.json b/chapter-203-the-evolution-of-money-i/203.01-lesson-evolution-money.json new file mode 100755 index 0000000..a986130 --- /dev/null +++ b/chapter-203-the-evolution-of-money-i/203.01-lesson-evolution-money.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The use of money as a way to exchange goods and services", + "The history of money's development", + "The exclusive power of governments to create money" + ], + "feedback": [ + "Congrats, you got it right! It's interesting to note that the use of money as a medium of exchange has become more important in modern times due to the rise of electronic payment methods", + "Wrong! But it's good that you're interested in the history of money. Try again", + "Sorry, that's incorrect. It's true that governments do have a lot of control over the creation and issuance of money, but that's not the main focus of modern monetary economics. Try again!" + ], + "id": "evolutionMoney", + "question": "What is the main focus of modern monetary economics", + "text": "In modern times, many people in the field of monetary economics focus on the idea that money is mainly used as a way to exchange goods and services.\n\nIn the past century, however, governments have had the exclusive power to create money and have often made it difficult for money to hold its value. This lead people to believe that the main purpose of money is to be used for exchange.\n\nSome have argued that Bitcoin is not a good form of money because its value tends to change too much to be used effectively in transactions.\n\nHowever, this way of thinking is backwards. Throughout history, the use of money has developed in stages, with its value as a store of value coming before its use as a medium of exchange.\n", + "title": "The Evolution of Money", + "type": "Text" +} diff --git a/chapter-203-the-evolution-of-money-i/203.02-lesson-collectible.json b/chapter-203-the-evolution-of-money-i/203.02-lesson-collectible.json new file mode 100644 index 0000000..6b6aa01 --- /dev/null +++ b/chapter-203-the-evolution-of-money-i/203.02-lesson-collectible.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Coins made of copper and silver", + "Shells, beads, and gold", + "Paper bills with pictures of famous leaders" + ], + "feedback": [ + "Sorry, that's incorrect. Copper and silver coins were not used as money in the very beginning of its evolution", + "Congratulations, you got it right! It's interesting to note that shells, beads, and gold were all valued for their appearance or special qualities before becoming widely used as money", + "Wrong! But at least you're thinking about the more modern forms of money. Paper bills with pictures of famous leaders were not used in the very beginning of money's evolution." + ], + "id": "collectible", + "question": "What were some examples of early forms of money that were valued for their appearance or special qualities", + "text": "Throughout history, money has gone through four stages of development. In the very beginning, people only wanted money because of its special qualities, and it was mostly seen as a decorative item or a collectible.;\n\nExamples of this include shells, beads, and gold, which were all collectibles before becoming widely used as money.\n", + "title": "Four Stages of Money: Collectible", + "type": "Text" +} diff --git a/chapter-203-the-evolution-of-money-i/203.03-lesson-store-of-value.json b/chapter-203-the-evolution-of-money-i/203.03-lesson-store-of-value.json new file mode 100644 index 0000000..124d545 --- /dev/null +++ b/chapter-203-the-evolution-of-money-i/203.03-lesson-store-of-value.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The number of people who want it as a store of value", + "The weather", + "The color of the store of value" + ], + "feedback": [ + "Nice work! The purchasing power of a store of value is determined by the number of people who want to use it as a way to store value. As more people want to use it for this purpose, the value of the store of value increases", + "Sorry, the weather is definitely a factor in many things, but it's not quite the right answer for this question. Maybe try looking at other factors that could affect the value of a store of value", + "I'm sorry to say that the color of a store of value probably doesn't have much of an effect on its purchasing power. It's definitely an interesting idea though! Maybe try considering other characteristics that could affect the value of a store of value." + ], + "id": "storeOfValue", + "question": "What determines the purchasing power of a store of value", + "text": "The store of value is the second stage of money's evolution. When enough people want money because of its special qualities, it becomes a way to keep and save value over time, to transport hard earned wealth into the future.\n\nAs more people recognize a good as a good way to store value, the good's value increases as more people want it for this purpose.\n\nEventually, the value of a store of value will stop increasing as it becomes widely held and fewer new people want it as a store of value.\n", + "title": "Four Stages of Money: Store of Value", + "type": "Text" +} diff --git a/chapter-203-the-evolution-of-money-i/203.04-lesson-medium-of-exchange.json b/chapter-203-the-evolution-of-money-i/203.04-lesson-medium-of-exchange.json new file mode 100644 index 0000000..f71a31b --- /dev/null +++ b/chapter-203-the-evolution-of-money-i/203.04-lesson-medium-of-exchange.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The first time bitcoin had market value", + "The invention of pineapple as a pizza topping", + "again" + ], + "feedback": [ + "You got it right. Bitcoin Pizza Day is celebrated to mark the first time that bitcoin had market value, which was when Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. It's an important event in the evolution of bitcoin", + "While pineapple is a beautiful fruit, it has no place on a real pizza! Apart from this side note, your answer is wrong. Try again", + "Sorry, the best pizza recipe is a matter of personal preference. While pizza is always delicious, it's not the focus of Bitcoin Pizza Day. Maybe try considering the significance of the event in the history of bitcoin." + ], + "id": "mediumOfExchange", + "question": "What is Bitcoin Pizza Day celebrated for", + "text": "When money is used to store value, its value becomes stable eventually. And when the value of money is stable, it becomes the best option to facilitate trade as it's easy to use and doesn't have the coordination burden of barter.\n\nIn the early days of Bitcoin in 2010, some people did not recognize the opportunity cost to use Bitcoin as a medium of exchange rather than a nascent store of value.\n\nThere is a famous story about Laszlo Hanyecz who traded 10,000 bitcoins (which were worth about $165 million at the time of this writing) for just two pizzas. When Laszlo acquired those pizzas, it marked the first time that bitcoin had market value.\n\nToday, Laszlo's pizza is celebrated globally on May 22 as Bitcoin Pizza Day as an important step and milestone in the evolution of bitcoin as money.\n", + "title": "Four Stages of Money: Medium of Exchange", + "type": "Text" +} diff --git a/chapter-203-the-evolution-of-money-i/203.05-lesson-unit-of-account.json b/chapter-203-the-evolution-of-money-i/203.05-lesson-unit-of-account.json new file mode 100644 index 0000000..72b3b46 --- /dev/null +++ b/chapter-203-the-evolution-of-money-i/203.05-lesson-unit-of-account.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "When merchants are willing to accept it as payment without considering the exchange rate with other currencies", + "When it is used to buy ice cream", + "When it is used to play games with friends" + ], + "feedback": [ + "Congrats! For bitcoin to be considered a unit of account, it needs to be widely accepted as a form of payment without regard to its exchange rate with other currencies. This means that merchants would be willing to accept it as payment without considering the value of bitcoin in terms of other currencie", + "I'm sorry, but while ice cream is delicious, it's not quite the right answer. Maybe try considering other factors that could affect the acceptance of bitcoin as a unit of account", + "Playing games with friends is always fun, but unfortunately it's not the correct answer. Maybe try thinking about what it would take for bitcoin to be widely accepted as a form of payment.\"" + ], + "id": "unitOfAccount", + "question": "How can bitcoin be considered a unit of account", + "text": "When money is commonly used for trading, goods are priced in terms of it. This means that most goods can be exchanged for money at a certain rate.\n\nIt is not accurate to say that many goods can be bought with bitcoin today. For example, while a cup of coffee might be available for purchase using bitcoin, the price listed is not the true value of bitcoin. Instead, it is the dollar price that the merchant wants, converted into bitcoin based on the current exchange rate between dollars and bitcoin.\n\nIf the value of bitcoin goes down in terms of dollars, the merchant will ask for more bitcoin to equal the same dollar amount.\n\nBitcoin can only be considered a unit of account (a standard way to measure the value of goods) when merchants are willing to accept it for payment without considering the exchange rate with other currencies.\n", + "title": "Four Stages of Money: Unit of Account", + "type": "Text" +} diff --git a/chapter-203-the-evolution-of-money-i/203.06-lesson-partly-monetized.json b/chapter-203-the-evolution-of-money-i/203.06-lesson-partly-monetized.json new file mode 100644 index 0000000..42b4408 --- /dev/null +++ b/chapter-203-the-evolution-of-money-i/203.06-lesson-partly-monetized.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A good that is not yet widely used as a unit of account", + "A currency that is only accepted in certain countries", + "A good that is used as a medium of exchange but not for storing value or measuring the value of goods" + ], + "feedback": [ + "Congratulations! You've chosen the correct answer. A partly monetized good is one that is not yet widely accepted as a unit of account, which means it is not commonly used as a standard way to measure the value of other goods. This can include goods like gold, which is often used to store value but not typically used for everyday transactions", + "That's a creative answer, but unfortunately not quite right. Better luck next time", + "Not quite correct, but close! Keep thinking." + ], + "id": "partlyMonetized", + "question": "What is the meaning of the term \"partly monetized\"", + "text": "Goods that are not widely accepted as a unit of account may be considered \"partly monetized\" because they are used for some purposes related to money, but not all.\n\nGold is an example of a partly monetized good that is used to store value but is not widely used as a medium of exchange or unit of account. In some countries, different goods may be used for different purposes related to money, such as one good being used as a medium of exchange and another being used as a store of value or unit of account.\n\nThe dollar is an example of a good that is widely used for all three purposes of money in the United States, while the peso was an example of a good that was used as a medium of exchange in Argentina but was not a good store of value because of its volatility and regular loss of purchasing power.\n", + "title": "Partial Monetization", + "type": "Text" +} diff --git a/chapter-203-the-evolution-of-money-i/203.07-lesson-monitization-stage.json b/chapter-203-the-evolution-of-money-i/203.07-lesson-monitization-stage.json new file mode 100644 index 0000000..787aadc --- /dev/null +++ b/chapter-203-the-evolution-of-money-i/203.07-lesson-monitization-stage.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "It is in the process of becoming more widely accepted as money", + "It is currently being used as a way to trade goods and services, like other currencies.", + "It has already completed the process of becoming more widely accepted as money and is now being used as a form of currency." + ], + "feedback": [ + "Bingo! You're right on the money (pun intended) with this answer. Did you know that the process of Bitcoin becoming more widely accepted as money is similar to the process gold went through to become a widely accepted form of currency", + "Ha! You must have missed the part about it taking several years for Bitcoin to reach this stage. Keep reading", + "Sorry to break it to you, but Bitcoin is still in the process of becoming more widely accepted as money. Better luck next time!" + ], + "id": "monetizationStage", + "question": "What is the current stage of Bitcoin's evolution", + "text": "Bitcoin is currently changing from the first stage of being used as money to the second stage. It may take several years for Bitcoin to be used as a way to trade goods and services, like other currencies.\n\nThe process of Bitcoin becoming more widely accepted as money is uncertain, as the same process took a long time for gold and no one alive has seen a good become money in the same way that is happening with Bitcoin. There is not a lot of experience with this process, but developments around the world are very promising and happening faster in the interconnected digital age.\n", + "title": "Bitcoin is in the stage of monetization", + "type": "Text" +} diff --git a/chapter-204-the-evolution-of-money-ii/204-combined.json b/chapter-204-the-evolution-of-money-ii/204-combined.json new file mode 100644 index 0000000..156a7e3 --- /dev/null +++ b/chapter-204-the-evolution-of-money-ii/204-combined.json @@ -0,0 +1,93 @@ +{ + "content": [ + { + "answers": [ + "Money is the most tradable good in any given market.", + "Money is a government creation.", + "Money is a magical substance created by fairies." + ], + "feedback": [ + "Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money", + "Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time", + "Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!" + ], + "id": "notFromGovernment", + "question": "What is money", + "text": "There is a popular misconception that money is a government creation and cannot exist without government. This is false.\n\nThe history of money goes back thousands of years to times when governments did not exist, but money did.\n\nThis proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.\n", + "title": "Money is not a government creation", + "type": "Text" + }, + { + "answers": [ + "To improve the workings of small barter networks.", + "To facilitate large scale trade networks.", + "To reduce the need for credit." + ], + "feedback": [ + "Congratulations! It's interesting to think about how money has evolved over time, from its early use as a means of facilitating trade in small communities to its current role as a medium of exchange in modern economies", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! Credit has been around for almost as long as money, and it's likely here to stay. Better luck with your next answer." + ], + "id": "primaryFunction", + "question": "What was the primary function of money", + "text": "Primitive money existed long before large scale trade networks. Archeologists found that early humans used valuable tools like arrowheads, collectibles like cowry shells and commodities like barley as primitive money.\n\nThe main advantage and primary function of these primitive moneys was to improve the workings of even small barter networks. Primitive moneys achieved this by eliminating the need to match coincidences of wants, interests, supply or skill. They also greatly reduced the need for credit, which, in the absence of writing in prehistoric times, was difficult to keep track of.\n", + "title": "The primary function of money", + "type": "Text" + }, + { + "answers": [ + "Their ability to withstand time and wear.", + "Their rarity and difficulty to produce.", + "Their colorful and decorative appearance." + ], + "feedback": [ + "Correct! It's impressive to think about how certain materials, like metal, have been able to hold value over centuries and even millennia. Good work", + "Nice try, but not quite right. Better luck with your next answer", + "Sorry, looks like you were a little off the mark this time. Maybe try focusing on the functional aspects of money rather than its aesthetic appeal." + ], + "id": "monetaryMetals", + "question": "What made metals valuable as a form of money", + "text": "Metals were difficult to make, which made them rare. They also lasted longer than other materials like shells, grains, and beads. This made them valuable and easy to carry, or portable.\n\nAs technology improved, especially in the production of metal, humans were able to create more advanced, better forms of money.\n", + "title": "Monetary Metals", + "type": "Text" + }, + { + "answers": [ + "A measure of the rate at which new units of a monetary good are introduced into the existing supply.", + "A measure of a company's financial stability.", + "A ratio used to compare the value of different currencies." + ], + "feedback": [ + "That's right! The Stock to Flow ratio can be a useful tool for understanding the stability and scarcity of a particular currency or commodity. Good job", + "Sorry, looks like you're mixing up your business jargon. Better luck with your next answer", + "Wrong! But hey, at least you're thinking about the global economy. Better luck with your next guess." + ], + "id": "stockToFlow", + "question": "What is the Stock to Flow ratio", + "text": "The Stock to Flow ratio is a measure of the rate at which new units of money are added to the existing supply.\n\nTo calculate it, you divide the existing amount of money by the amount produced each year.\n\nFor something to be a good way to save value, it should become more valuable when people want to use it to save, but the people who make it should not be able to add too much of it, which would make it less valuable.\n", + "title": "Understanding the Stock to Flow Ratio", + "type": "Text" + }, + { + "answers": [ + "The difficulty of producing new units of a monetary good.", + "The value of money compared to other currencies.", + "The amount of money in circulation." + ], + "feedback": [ + "That's it! **** It's interesting to think about how the hardness of money can change over time as technology advances and what was once difficult to produce becomes easier. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! The hardness of money has more to do with its production than its quantity. Better luck with your next answer." + ], + "id": "hardMoney", + "question": "What is the hardness of money", + "text": "The difficulty of producing new units of money compared to other forms of money is called its hardness. This can change over time as technology improves and what was once difficult to produce could become easier.\n\nIn precolonial Ghana (Africa), aggry beads (made of glass) were used as money. Glassmaking was an expensive craft in that region, which gave the aggry beads a high stock-to-flow ratio and made them rather scarce.\n\nIn the 16th century, European explorers discovered the high value ascribed to these beads by the west Africans and began importing them in mass quantities; as European glassmaking technology made them extremely cheap to produce.\n\nSlowly but surely, the Europeans used these cheaply produced beads to acquire most of the precious resources of Africa. The net effect of this incursion into Africa was the transference its vast natural resource wealth to Europeans and the conversion of aggry beads from hard money to soft money.\n\nAs societies continued to evolve, they began to move away from artifact money like stones and glass beads and towards monetary metals.\n", + "title": "Hard Money and Easy Money", + "type": "Text" + } + ], + "meta": { + "id": "TheEvolutionofMoneyII", + "title": "The Evolution of Money II" + } +} diff --git a/chapter-204-the-evolution-of-money-ii/204-es-combined.json b/chapter-204-the-evolution-of-money-ii/204-es-combined.json new file mode 100644 index 0000000..6f47b4f --- /dev/null +++ b/chapter-204-the-evolution-of-money-ii/204-es-combined.json @@ -0,0 +1,93 @@ +{ + "content": [ + { + "answers": [ + "El dinero es el bien m\u00e1s comercializable en cualquier mercado.", + "El dinero es una creaci\u00f3n del gobierno.", + "El dinero es una sustancia m\u00e1gica creada por las hadas." + ], + "feedback": [ + "Correcto. Es interesante pensar en c\u00f3mo diferentes sociedades a lo largo de la historia han utilizado diferentes art\u00edculos como forma de moneda, desde conchas marinas hasta ganado y oro. Pero, en \u00faltima instancia, es la voluntad de las personas de comerciar y aceptar un art\u00edculo como pago lo que determina su valor como dinero.", + "\u00a1No, lo siento! Parece que el gobierno no es tan poderoso como pens\u00e1bamos. Mejor suerte la pr\u00f3xima vez", + "Lo siento, pero parece que el Ratoncito P\u00e9rez es el \u00fanico que gana dinero m\u00e1gico en estos d\u00edas. \u00a1M\u00e1s suerte con tu pr\u00f3xima respuesta!" + ], + "id": "no del gobierno", + "question": "Qu\u00e9 es el dinero", + "text": "Existe una idea err\u00f3nea popular de que el dinero es una creaci\u00f3n del gobierno y no puede existir sin el gobierno. Esto es falso.\n\nLa historia del dinero se remonta a miles de a\u00f1os atr\u00e1s, a tiempos en los que no exist\u00edan los gobiernos, pero s\u00ed el dinero.\n\nEsto demuestra que el dinero es emergente y simplemente el bien m\u00e1s comercializable en un mercado. No es una creaci\u00f3n del gobierno y ciertamente no requiere que un gobierno haga funcionar el dinero.\n", + "title": "El dinero no es una creaci\u00f3n del gobierno.", + "type": "Texto" + }, + { + "answers": [ + "Mejorar el funcionamiento de las peque\u00f1as redes de trueque.", + "Facilitar redes comerciales a gran escala.", + "Reducir la necesidad de cr\u00e9dito." + ], + "feedback": [ + "\u00a1Felicidades! Es interesante pensar en c\u00f3mo ha evolucionado el dinero a lo largo del tiempo, desde su uso inicial como medio para facilitar el comercio en peque\u00f1as comunidades hasta su papel actual como medio de intercambio en las econom\u00edas modernas.", + "Lo siento, \u00a1parece que lo entendiste al rev\u00e9s! M\u00e1s suerte con tu pr\u00f3xima suposici\u00f3n.", + "\u00a1Equivocado! El cr\u00e9dito existe desde hace casi tanto tiempo como el dinero, y probablemente lleg\u00f3 para quedarse. M\u00e1s suerte con tu pr\u00f3xima respuesta." + ], + "id": "funci\u00f3n primaria", + "question": "\u00bfCu\u00e1l era la funci\u00f3n principal del dinero?", + "text": "El dinero primitivo existi\u00f3 mucho antes de las redes comerciales a gran escala. Los arque\u00f3logos descubrieron que los primeros humanos utilizaban herramientas valiosas como puntas de flecha, objetos de colecci\u00f3n como conchas de cauri y productos b\u00e1sicos como la cebada como dinero primitivo.\n\nLa principal ventaja y funci\u00f3n principal de estas monedas primitivas era mejorar el funcionamiento incluso de las peque\u00f1as redes de trueque. Los dineros primitivos lograron esto eliminando la necesidad de igualar coincidencias de deseos, intereses, oferta o habilidad. Tambi\u00e9n redujeron en gran medida la necesidad de cr\u00e9dito, que, a falta de escritura en tiempos prehist\u00f3ricos, era dif\u00edcil de seguir.\n", + "title": "La funci\u00f3n principal del dinero.", + "type": "Texto" + }, + { + "answers": [ + "Su capacidad para resistir el tiempo y el desgaste.", + "Su rareza y dificultad de producir.", + "Su aspecto colorido y decorativo." + ], + "feedback": [ + "\u00a1Correcto! Es impresionante pensar en c\u00f3mo ciertos materiales, como el metal, han podido mantener su valor durante siglos e incluso milenios. Buen trabajo", + "Buen intento, pero no del todo bien. M\u00e1s suerte con tu pr\u00f3xima respuesta.", + "Lo siento, parece que esta vez te equivocaste un poco. Quiz\u00e1s intente centrarse en los aspectos funcionales del dinero en lugar de en su atractivo est\u00e9tico." + ], + "id": "monetarioMetales", + "question": "\u00bfQu\u00e9 hizo que los metales fueran valiosos como forma de dinero?", + "text": "Los metales eran dif\u00edciles de fabricar, lo que los hac\u00eda raros. Tambi\u00e9n duraban m\u00e1s que otros materiales como conchas, granos y cuentas. Esto los hac\u00eda valiosos y f\u00e1ciles de transportar o port\u00e1tiles.\n\nA medida que la tecnolog\u00eda mejor\u00f3, especialmente en la producci\u00f3n de metales, los humanos pudieron crear formas de dinero mejores y m\u00e1s avanzadas.\n", + "title": "Metales monetarios", + "type": "Texto" + }, + { + "answers": [ + "Medida de la tasa a la que se introducen nuevas unidades de un bien monetario en la oferta existente.", + "Una medida de la estabilidad financiera de una empresa.", + "Una relaci\u00f3n utilizada para comparar el valor de diferentes monedas." + ], + "feedback": [ + "\u00a1As\u00ed es! La relaci\u00f3n entre existencias y flujos puede ser una herramienta \u00fatil para comprender la estabilidad y la escasez de una moneda o materia prima en particular. Buen trabajo", + "Lo siento, parece que est\u00e1s mezclando tu jerga empresarial. M\u00e1s suerte con tu pr\u00f3xima respuesta.", + "\u00a1Equivocado! Pero bueno, al menos est\u00e1s pensando en la econom\u00eda global. M\u00e1s suerte con tu pr\u00f3xima suposici\u00f3n." + ], + "id": "stockToFlow", + "question": "\u00bfCu\u00e1l es la relaci\u00f3n entre existencias y flujo?", + "text": "La relaci\u00f3n entre existencias y flujo es una medida de la tasa a la que se agregan nuevas unidades de dinero a la oferta existente.\n\nPara calcularlo, se divide la cantidad de dinero existente por la cantidad producida cada a\u00f1o.\n\nPara que algo sea una buena forma de ahorrar valor, deber\u00eda volverse m\u00e1s valioso cuando la gente quiera usarlo para ahorrar, pero las personas que lo fabrican no deber\u00edan poder agregar demasiado, lo que lo har\u00eda menos valioso.\n", + "title": "Comprender la relaci\u00f3n stock-flujo", + "type": "Texto" + }, + { + "answers": [ + "La dificultad de producir nuevas unidades de un bien monetario.", + "El valor del dinero en comparaci\u00f3n con otras monedas.", + "La cantidad de dinero en circulaci\u00f3n." + ], + "feedback": [ + "\u00a1Eso es todo! **** Es interesante pensar en c\u00f3mo la dureza del dinero puede cambiar con el tiempo a medida que avanza la tecnolog\u00eda y lo que antes era dif\u00edcil de producir se vuelve m\u00e1s f\u00e1cil. Buen trabajo", + "Lo siento, \u00a1parece que lo entendiste al rev\u00e9s! M\u00e1s suerte con tu pr\u00f3xima suposici\u00f3n.", + "\u00a1Equivocado! La dureza del dinero tiene m\u00e1s que ver con su producci\u00f3n que con su cantidad. M\u00e1s suerte con tu pr\u00f3xima respuesta." + ], + "id": "dinero duro", + "question": "\u00bfCu\u00e1l es la dureza del dinero?", + "text": "La dificultad de producir nuevas unidades de dinero en comparaci\u00f3n con otras formas de dinero se llama dureza. Esto puede cambiar con el tiempo a medida que la tecnolog\u00eda mejore y lo que antes era dif\u00edcil de producir pueda volverse m\u00e1s f\u00e1cil.\n\nEn la Ghana precolonial (\u00c1frica), las cuentas aggry (hechas de vidrio) se utilizaban como dinero. La fabricaci\u00f3n de vidrio era un oficio costoso en esa regi\u00f3n, lo que daba a las perlas aggry una alta relaci\u00f3n stock-flujo y las hac\u00eda bastante escasas.\n\nEn el siglo XVI, los exploradores europeos descubrieron el alto valor que los africanos occidentales atribu\u00edan a estas cuentas y comenzaron a importarlas en cantidades masivas; ya que la tecnolog\u00eda europea de fabricaci\u00f3n de vidrio hizo que su producci\u00f3n fuera extremadamente barata.\n\nDe forma lenta pero segura, los europeos utilizaron estas cuentas de producci\u00f3n barata para adquirir la mayor\u00eda de los preciosos recursos de \u00c1frica. El efecto neto de esta incursi\u00f3n en \u00c1frica fue la transferencia de su vasta riqueza de recursos naturales a los europeos y la conversi\u00f3n de cuentas agresivas de dinero fuerte a dinero blando.\n\nA medida que las sociedades continuaron evolucionando, comenzaron a alejarse del dinero artefacto, como piedras y cuentas de vidrio, hacia los metales monetarios.\n", + "title": "Dinero duro y dinero f\u00e1cil", + "type": "Texto" + } + ], + "meta": { + "id": "La evoluci\u00f3n del dinero II", + "title": "La evoluci\u00f3n del dinero II" + } +} \ No newline at end of file diff --git a/chapter-204-the-evolution-of-money-ii/204.01-lesson-not-from-government.json b/chapter-204-the-evolution-of-money-ii/204.01-lesson-not-from-government.json new file mode 100644 index 0000000..baa1c0d --- /dev/null +++ b/chapter-204-the-evolution-of-money-ii/204.01-lesson-not-from-government.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Money is the most tradable good in any given market.", + "Money is a government creation.", + "Money is a magical substance created by fairies." + ], + "feedback": [ + "Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money", + "Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time", + "Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!" + ], + "id": "notFromGovernment", + "question": "What is money", + "text": "There is a popular misconception that money is a government creation and cannot exist without government. This is false.\n\nThe history of money goes back thousands of years to times when governments did not exist, but money did.\n\nThis proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.\n", + "title": "Money is not a government creation", + "type": "Text" +} diff --git a/chapter-204-the-evolution-of-money-ii/204.02-lesson-primary-functoin.json b/chapter-204-the-evolution-of-money-ii/204.02-lesson-primary-functoin.json new file mode 100644 index 0000000..12e9b2e --- /dev/null +++ b/chapter-204-the-evolution-of-money-ii/204.02-lesson-primary-functoin.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To improve the workings of small barter networks.", + "To facilitate large scale trade networks.", + "To reduce the need for credit." + ], + "feedback": [ + "Congratulations! It's interesting to think about how money has evolved over time, from its early use as a means of facilitating trade in small communities to its current role as a medium of exchange in modern economies", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! Credit has been around for almost as long as money, and it's likely here to stay. Better luck with your next answer." + ], + "id": "primaryFunction", + "question": "What was the primary function of money", + "text": "Primitive money existed long before large scale trade networks. Archeologists found that early humans used valuable tools like arrowheads, collectibles like cowry shells and commodities like barley as primitive money.\n\nThe main advantage and primary function of these primitive moneys was to improve the workings of even small barter networks. Primitive moneys achieved this by eliminating the need to match coincidences of wants, interests, supply or skill. They also greatly reduced the need for credit, which, in the absence of writing in prehistoric times, was difficult to keep track of.\n", + "title": "The primary function of money", + "type": "Text" +} diff --git a/chapter-204-the-evolution-of-money-ii/204.03-lesson-monetary-metals.json b/chapter-204-the-evolution-of-money-ii/204.03-lesson-monetary-metals.json new file mode 100644 index 0000000..3dc0115 --- /dev/null +++ b/chapter-204-the-evolution-of-money-ii/204.03-lesson-monetary-metals.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Their ability to withstand time and wear.", + "Their rarity and difficulty to produce.", + "Their colorful and decorative appearance." + ], + "feedback": [ + "Correct! It's impressive to think about how certain materials, like metal, have been able to hold value over centuries and even millennia. Good work", + "Nice try, but not quite right. Better luck with your next answer", + "Sorry, looks like you were a little off the mark this time. Maybe try focusing on the functional aspects of money rather than its aesthetic appeal." + ], + "id": "monetaryMetals", + "question": "What made metals valuable as a form of money", + "text": "Metals were difficult to make, which made them rare. They also lasted longer than other materials like shells, grains, and beads. This made them valuable and easy to carry, or portable.\n\nAs technology improved, especially in the production of metal, humans were able to create more advanced, better forms of money.\n", + "title": "Monetary Metals", + "type": "Text" +} diff --git a/chapter-204-the-evolution-of-money-ii/204.05-lesson-stock-to-flow.json b/chapter-204-the-evolution-of-money-ii/204.05-lesson-stock-to-flow.json new file mode 100644 index 0000000..0432354 --- /dev/null +++ b/chapter-204-the-evolution-of-money-ii/204.05-lesson-stock-to-flow.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A measure of the rate at which new units of a monetary good are introduced into the existing supply.", + "A measure of a company's financial stability.", + "A ratio used to compare the value of different currencies." + ], + "feedback": [ + "That's right! The Stock to Flow ratio can be a useful tool for understanding the stability and scarcity of a particular currency or commodity. Good job", + "Sorry, looks like you're mixing up your business jargon. Better luck with your next answer", + "Wrong! But hey, at least you're thinking about the global economy. Better luck with your next guess." + ], + "id": "stockToFlow", + "question": "What is the Stock to Flow ratio", + "text": "The Stock to Flow ratio is a measure of the rate at which new units of money are added to the existing supply.\n\nTo calculate it, you divide the existing amount of money by the amount produced each year.\n\nFor something to be a good way to save value, it should become more valuable when people want to use it to save, but the people who make it should not be able to add too much of it, which would make it less valuable.\n", + "title": "Understanding the Stock to Flow Ratio", + "type": "Text" +} diff --git a/chapter-204-the-evolution-of-money-ii/204.06-lesson-hard-money.json b/chapter-204-the-evolution-of-money-ii/204.06-lesson-hard-money.json new file mode 100644 index 0000000..19812a6 --- /dev/null +++ b/chapter-204-the-evolution-of-money-ii/204.06-lesson-hard-money.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The difficulty of producing new units of a monetary good.", + "The value of money compared to other currencies.", + "The amount of money in circulation." + ], + "feedback": [ + "That's it! **** It's interesting to think about how the hardness of money can change over time as technology advances and what was once difficult to produce becomes easier. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! The hardness of money has more to do with its production than its quantity. Better luck with your next answer." + ], + "id": "hardMoney", + "question": "What is the hardness of money", + "text": "The difficulty of producing new units of money compared to other forms of money is called its hardness. This can change over time as technology improves and what was once difficult to produce could become easier.\n\nIn precolonial Ghana (Africa), aggry beads (made of glass) were used as money. Glassmaking was an expensive craft in that region, which gave the aggry beads a high stock-to-flow ratio and made them rather scarce.\n\nIn the 16th century, European explorers discovered the high value ascribed to these beads by the west Africans and began importing them in mass quantities; as European glassmaking technology made them extremely cheap to produce.\n\nSlowly but surely, the Europeans used these cheaply produced beads to acquire most of the precious resources of Africa. The net effect of this incursion into Africa was the transference its vast natural resource wealth to Europeans and the conversion of aggry beads from hard money to soft money.\n\nAs societies continued to evolve, they began to move away from artifact money like stones and glass beads and towards monetary metals.\n", + "title": "Hard Money and Easy Money", + "type": "Text" +} diff --git a/chapter-205-the-evolution-of-money-iii/205-combined.json b/chapter-205-the-evolution-of-money-iii/205-combined.json new file mode 100644 index 0000000..2d3ea62 --- /dev/null +++ b/chapter-205-the-evolution-of-money-iii/205-combined.json @@ -0,0 +1,144 @@ +{ + "content": [ + { + "answers": [ + "Because it cannot be destroyed or synthesized from other materials.", + "Because it is abundant and easy to find.", + "Because it is the most attractive and visually appealing metal." + ], + "feedback": [ + "Exactly**.** It's interesting to think about how the qualities of different materials, such as gold's durability and rarity, can make them more valuable and desirable as a form of money. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! While gold may have a certain aesthetic appeal, it's ultimately its functional qualities that make it a valuable form of money. Better luck with your next answer." + ], + "id": "convergingOnGold", + "question": "Why did the free market choose gold as a form of money", + "text": "From all monetary metals, the free market ultimately chose gold as a form of money because it has two important qualities that keep its value stable over long periods of time and across many regions of the world:\n\n1\\) Gold cannot be destroyed, and\n\n2\\) Gold cannot be made from other materials.\n", + "title": "Convergence on Gold", + "type": "Text" + }, + { + "answers": [ + "To allow for the convenient exchange of gold in place of physically transporting it", + "To represent a promise to pay a debt", + "To transport large amounts of gold" + ], + "feedback": [ + "Congratulations! You're a gold exchange genius! Did you know that these paper notes were also known as \"bearer instruments,\" which means that they could be traded and redeemed by anyone in possession of them", + "Oh no, it looks like you've got a case of promissory confusion! Better luck next time", + "Transporting gold in paper form? That's a bold move." + ], + "id": "originsOfPaperMoney", + "question": "What were paper notes used for during the expansion of trade routes", + "text": "Gold can be made into coins or bars of a specific weight and purity. When trade routes expanded, it became riskier to transport large amounts of gold.\n\nAs a solution, paper notes from trusted banks that could be exchanged for gold were used. In 900 CE, Chinese merchants initiated the use of paper currency to avoid having to carry thousands of coins over long distances. They started trading paper receipts from custodians where they had deposited money or goods.\n\nIn the beginning these paper notes were personally registered, but they soon became a written order to pay the amount to whomever had it in their possession (bearer instrument). These notes can be seen as a predecessor to today's banknotes.\n", + "title": "The Origins of Paper Money Backed by Gold", + "type": "Text" + }, + { + "answers": [ + "To allow people to earn money from their gold", + "To make it easier for banks to hold large amounts of gold", + "To make it easier for banks to make loans" + ], + "feedback": [ + "Congratulations! You're a banking history expert! Did you know that Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans", + "Hmm, it looks like you're a little off the mark. Better luck next time", + "Sorry, but it looks like you're mixing up your banking systems. Better luck next time!" + ], + "id": "fractionalReserve", + "question": "Why did Fractional Reserve Banking develop", + "text": "Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans.\n\nOne reason this system developed is because people wanted to earn money from their gold, rather than paying to store it.\n\nThey could do this by allowing a bank or vault to lend out their gold and receiving interest payment in return.\n\nIf more people deposited their gold than wanted to take it back, the bank could make more profit by using the same gold as collateral for multiple loans, hence keeping only a fraction of loans in reserve.\n", + "title": "The Invention of Fractional Reserve Banking", + "type": "Text" + }, + { + "answers": [ + "A sudden drain of deposits en masse, leading to systemic fears and drying up of liquidity", + "A nice vacation for everyone", + "A sudden increase in the price of gasoline" + ], + "feedback": [ + "masse, leading to systemic fears and drying up of liquidity", + "Sorry, taking a vacation isn't quite the outcome we're looking for here. Better luck next time", + "Gas prices might fluctuate for a variety of reasons, but this particular scenario doesn't have much to do with it. Try again!" + ], + "id": "bankRun", + "question": "What is a potential outcome of banks issuing more paper notes than they held deposits", + "text": "Banks sometimes issued more paper notes than they had deposits, which could cause problems in the economy. If people started to doubt the solvency of a bank, they might rush to withdraw their money all at once before others do. This is called a bank run.\n\nThe sudden loss of deposits from the bank run could reveal that the bank was using too much leverage through Fractional Reserve Banking. This could cause a lack of liquidity and bring the whole financial system to a stop.\n", + "title": "Problems of Fractional Reserve Banking", + "type": "Text" + }, + { + "answers": [ + "To create a unified national currency and provide a backup plan for other banks", + "To sell ice cream and provide a place for people to play games", + "To act as a personal stylist and wardrobe consultant for the royal family" + ], + "feedback": [ + "Congratulations, you got it right! Did you know that central banks also act as the \"lender of last resort,\" meaning they can give out money when needed to make sure people's deposits are secure", + "I'm sorry, but central banks do not sell ice cream or provide a place for people to play games. They have much more important responsibilities", + "I'm afraid you are mistaken. Central banks do not act as personal stylists or wardrobe consultants for the royal family. Try again!" + ], + "id": "modernCentralBanking", + "question": "What is the purpose of a central bank", + "text": "To counter the problem of bank runs, governments created their own banks called \"central banks.\"\n\nThese central banks have the special power to create money. They act as a backup plan for when commercial banks run out of reserves and need extra money to stay open.\n\nBecause of this function, central banks are also called the \"lenders of last resort,\" meaning they can create and give out money when commercial banks need liquidity to service withdrawals.\n", + "title": "Modern Central Banking", + "type": "Text" + }, + { + "answers": [ + "It made it difficult for governments to borrow money", + "It made it hard for people to save money in the bank", + "It required governments to hold a petting zoo in their treasury" + ], + "feedback": [ + "Yep! The gold standard made it difficult for governments to borrow money because they had to hold a certain amount of gold in reserve in order to issue a certain amount of currency", + "I'm sorry, but the gold standard did not make it hard for people to save money in the bank. It was actually a problem for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves", + "An amusing idea, but nonsense nevertheless! Try again." + ], + "id": "goldBacked", + "question": "What was the main problem with the gold standard system for governments and citizens", + "text": "In the past, some governments linked the value of their currency to a specific amount of gold, a system known as a \"gold standard.\" This meant that the government had to hold a certain amount of gold in reserve in order to issue a certain amount of currency.\n\nThis system limited the government's ability to borrow money because they could not simply print more currency to cover the cost of borrowing. Governments often borrowed money to finance wars or other expensive projects, but the gold standard made it difficult for them to do so without first accumulating enough gold to back the new currency they wanted to issue.\n\nThe gold standard was also problematic for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves.\n", + "title": "From Gold to Gold-Backed", + "type": "Text" + }, + { + "answers": [ + "To link the value of other countries' currencies to the value of gold through the US dollar", + "To create a new global currency made out of chocolate coins", + "To establish a network of trampoline parks in every major city" + ], + "feedback": [ + "That's right. The Bretton Woods system was established after World War II in order to address global economic instability and high levels of debt. It linked the value of other countries' currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate", + "Sweet idea, but not very practical. Or would you prefer your money to melt away even faster? Try again", + "Trampoline parks would have surely made for a great distraction of the public from the strange machinations of the Bretton Woods system. Have you considered applying as an advisor at the IMF or World Bank? Try again!" + ], + "id": "brettonWoods", + "question": "What was the main purpose of the Bretton Woods system", + "text": "After World War I and II, many countries were financially exhausted and did not have a lot of money. The United States had a lot of gold because they sold a lot of weapons and other military equipment to other countries during the wars. As a result, the United States controlled about two-thirds of the world's gold.\n\nIn order to fix the global economy, a new system was created where countries would link their own currencies to the value of the US dollar.\n\nThe US dollar, in turn, would be linked to the value of gold. This meant that the value of other countries' currencies would be based on the value of the US dollar, which was based on the amount of gold the United States had.\n", + "title": "The Bretton Woods System", + "type": "Text" + }, + { + "answers": [ + "A type of money that is widely used in international trade and financial transactions", + "A currency made out of rainbow-colored paper and glitter", + "The currency of the nation that pays the biggest share of the World Trade Organization's budget" + ], + "feedback": [ + "Correct! A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted", + "While most banknotes are made of colorful pieces of paper with strings of glitter as security features in them, this is not what defines a global reserve currency. Try again", + "Surely this would benefit the WTO's funding immensely, but this is not how the global reserve currency is defined or chosen. Try again!" + ], + "id": "globalReserve", + "question": "What is a global reserve currency", + "text": "A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted.\n\nChanges to the global reserve currency can have significant geopolitical implications, as it can affect the balance of power between countries.\n\nThe dominant global reserve currency has typically had a lifespan of several decades, with the US dollar serving as the dominant global reserve currency for much of the 20th century.\n", + "title": "The Global Reserve Currency", + "type": "Text" + } + ], + "meta": { + "id": "TheEvolutionofMoneyIII", + "title": "The Evolution of Money III" + } +} diff --git a/chapter-205-the-evolution-of-money-iii/205-es-combined.json b/chapter-205-the-evolution-of-money-iii/205-es-combined.json new file mode 100644 index 0000000..357bb2f --- /dev/null +++ b/chapter-205-the-evolution-of-money-iii/205-es-combined.json @@ -0,0 +1,144 @@ +{ + "content": [ + { + "answers": [ + "Porque no se puede destruir ni sintetizar a partir de otros materiales.", + "Porque es abundante y f\u00e1cil de encontrar.", + "Porque es el metal m\u00e1s atractivo y visualmente atractivo." + ], + "feedback": [ + "Exactamente**.** Es interesante pensar en c\u00f3mo las cualidades de diferentes materiales, como la durabilidad y la rareza del oro, pueden hacerlos m\u00e1s valiosos y deseables como forma de dinero. Buen trabajo", + "Lo siento, \u00a1parece que lo entendiste al rev\u00e9s! M\u00e1s suerte con tu pr\u00f3xima suposici\u00f3n.", + "\u00a1Equivocado! Si bien el oro puede tener cierto atractivo est\u00e9tico, en \u00faltima instancia son sus cualidades funcionales las que lo convierten en una forma valiosa de dinero. M\u00e1s suerte con tu pr\u00f3xima respuesta." + ], + "id": "convergente en oro", + "question": "\u00bfPor qu\u00e9 el libre mercado eligi\u00f3 el oro como forma de dinero?", + "text": "De todos los metales monetarios, el libre mercado finalmente eligi\u00f3 el oro como forma de dinero porque tiene dos cualidades importantes que mantienen su valor estable durante largos per\u00edodos de tiempo y en muchas regiones del mundo:\n\n1\\) El oro no se puede destruir, y\n\n2\\) El oro no se puede fabricar con otros materiales.\n", + "title": "Convergencia sobre el oro", + "type": "Texto" + }, + { + "answers": [ + "Para permitir el intercambio conveniente de oro en lugar de transportarlo f\u00edsicamente.", + "Para representar una promesa de pagar una deuda.", + "Para transportar grandes cantidades de oro." + ], + "feedback": [ + "\u00a1Felicidades! \u00a1Eres un genio del cambio de oro! \u00bfSab\u00edas que estos billetes tambi\u00e9n se conoc\u00edan como \"instrumentos al portador\", lo que significa que pod\u00edan ser comercializados y canjeados por cualquiera que estuviera en posesi\u00f3n de ellos?", + "\u00a1Oh no, parece que tienes un caso de confusi\u00f3n promisoria! Mejor suerte la pr\u00f3xima vez", + "\u00bfTransportar oro en papel? \u00c9sa es una medida audaz." + ], + "id": "or\u00edgenes del dinero del papel", + "question": "\u00bfPara qu\u00e9 se utilizaron los billetes de papel durante la expansi\u00f3n de las rutas comerciales?", + "text": "El oro se puede convertir en monedas o lingotes de un peso y una pureza espec\u00edficos. Cuando las rutas comerciales se expandieron, se volvi\u00f3 m\u00e1s riesgoso transportar grandes cantidades de oro.\n\nComo soluci\u00f3n se utilizaron billetes de bancos de confianza que pod\u00edan canjearse por oro. En el a\u00f1o 900 d.C., los comerciantes chinos iniciaron el uso del papel moneda para evitar tener que transportar miles de monedas a largas distancias. Comenzaron a intercambiar recibos en papel de los custodios donde hab\u00edan depositado dinero o bienes.\n\nEn un principio estos billetes eran registrados personalmente, pero pronto se convirtieron en una orden escrita de pago del importe a quien los tuviera en su poder (instrumento al portador). Estos billetes pueden verse como los predecesores de los billetes actuales.\n", + "title": "Los or\u00edgenes del papel moneda respaldado por oro", + "type": "Texto" + }, + { + "answers": [ + "Para permitir que la gente gane dinero con su oro.", + "Para facilitar que los bancos tengan grandes cantidades de oro", + "Para facilitar a los bancos la concesi\u00f3n de pr\u00e9stamos" + ], + "feedback": [ + "\u00a1Felicidades! \u00a1Eres un experto en historia bancaria! \u00bfSab\u00edas que la Banca de Reserva Fraccionada es un sistema en el que a los bancos se les permite mantener s\u00f3lo una fracci\u00f3n de los dep\u00f3sitos que reciben como reservas, mientras que utilizan el resto para otorgar pr\u00e9stamos?", + "Hmm, parece que est\u00e1s un poco fuera de lugar. Mejor suerte la pr\u00f3xima vez", + "Lo sentimos, pero parece que est\u00e1s mezclando tus sistemas bancarios. \u00a1Mejor suerte la pr\u00f3xima vez!" + ], + "id": "reserva fraccionaria", + "question": "\u00bfPor qu\u00e9 se desarroll\u00f3 la Banca de Reserva Fraccionada?", + "text": "La Banca de Reserva Fraccionada es un sistema en el que a los bancos se les permite mantener s\u00f3lo una fracci\u00f3n de los dep\u00f3sitos que reciben como reservas, mientras que utilizan el resto para otorgar pr\u00e9stamos.\n\nUna de las razones por las que se desarroll\u00f3 este sistema es porque la gente quer\u00eda ganar dinero con su oro, en lugar de pagar para almacenarlo.\n\nPodr\u00edan hacerlo permitiendo que un banco o una b\u00f3veda preste su oro y recibiendo a cambio el pago de intereses.\n\nSi m\u00e1s personas depositaran su oro de las que quisieran recuperarlo, el banco podr\u00eda obtener m\u00e1s ganancias utilizando el mismo oro como garant\u00eda para m\u00faltiples pr\u00e9stamos, manteniendo as\u00ed s\u00f3lo una fracci\u00f3n de los pr\u00e9stamos en reserva.\n", + "title": "La invenci\u00f3n de la banca de reserva fraccionaria", + "type": "Texto" + }, + { + "answers": [ + "Una fuga repentina y masiva de dep\u00f3sitos, que genera temores sist\u00e9micos y agotamiento de la liquidez.", + "Unas buenas vacaciones para todos.", + "Un aumento repentino en el precio de la gasolina." + ], + "feedback": [ + "masiva, lo que genera temores sist\u00e9micos y agotamiento de la liquidez.", + "Lo sentimos, tomarse unas vacaciones no es exactamente el resultado que buscamos aqu\u00ed. Mejor suerte la pr\u00f3xima vez", + "Los precios del gas pueden fluctuar por diversas razones, pero este escenario en particular no tiene mucho que ver con eso. \u00a1Intentar otra vez!" + ], + "id": "corrida bancaria", + "question": "\u00bfCu\u00e1l es el posible resultado de que los bancos emitan m\u00e1s billetes de los que tienen dep\u00f3sitos?", + "text": "En ocasiones, los bancos emit\u00edan m\u00e1s billetes que dep\u00f3sitos, lo que pod\u00eda causar problemas en la econom\u00eda. Si la gente empezara a dudar de la solvencia de un banco, podr\u00eda apresurarse a retirar su dinero de una vez antes que los dem\u00e1s. A esto se le llama corrida bancaria.\n\nLa p\u00e9rdida repentina de dep\u00f3sitos debido a la corrida bancaria podr\u00eda revelar que el banco estaba utilizando demasiado apalancamiento a trav\u00e9s de la Banca de Reserva Fraccionada. Esto podr\u00eda provocar una falta de liquidez y paralizar todo el sistema financiero.\n", + "title": "Problemas de la banca de reserva fraccionaria", + "type": "Texto" + }, + { + "answers": [ + "Crear una moneda nacional unificada y proporcionar un plan de respaldo para otros bancos.", + "Vender helados y proporcionar un lugar para que la gente juegue.", + "Actuar como estilista personal y asesor de vestuario de la familia real." + ], + "feedback": [ + "\u00a1Felicitaciones, lo hiciste bien! \u00bfSab\u00eda que los bancos centrales tambi\u00e9n act\u00faan como \"prestamistas de \u00faltimo recurso\", lo que significa que pueden dar dinero cuando sea necesario para garantizar que los dep\u00f3sitos de las personas est\u00e9n seguros?", + "Lo siento, pero los bancos centrales no venden helados ni ofrecen un lugar para que la gente juegue. Tienen responsabilidades mucho m\u00e1s importantes.", + "Me temo que est\u00e1s equivocado. Los bancos centrales no act\u00faan como estilistas personales ni asesores de vestuario de la familia real. \u00a1Intentar otra vez!" + ], + "id": "Banca Central moderna", + "question": "\u00bfCu\u00e1l es el prop\u00f3sito de un banco central?", + "text": "Para contrarrestar el problema de las corridas bancarias, los gobiernos crearon sus propios bancos llamados \"bancos centrales\".\n\nEstos bancos centrales tienen el poder especial de crear dinero. Act\u00faan como un plan de respaldo para cuando los bancos comerciales se queden sin reservas y necesiten dinero extra para permanecer abiertos.\n\nDebido a esta funci\u00f3n, a los bancos centrales tambi\u00e9n se les llama \"prestamistas de \u00faltimo recurso\", lo que significa que pueden crear y dar dinero cuando los bancos comerciales necesitan liquidez para atender los retiros.\n", + "title": "Banca central moderna", + "type": "Texto" + }, + { + "answers": [ + "A los gobiernos les result\u00f3 dif\u00edcil pedir dinero prestado.", + "A la gente le resultaba dif\u00edcil ahorrar dinero en el banco.", + "Requiri\u00f3 que los gobiernos tuvieran un zool\u00f3gico de mascotas en su tesorer\u00eda" + ], + "feedback": [ + "\u00a1S\u00ed! El patr\u00f3n oro hizo dif\u00edcil para los gobiernos pedir dinero prestado porque ten\u00edan que mantener una cierta cantidad de oro en reserva para poder emitir una cierta cantidad de moneda.", + "Lo siento, pero el patr\u00f3n oro no dificultaba que la gente ahorrara dinero en el banco. En realidad, era un problema para los ciudadanos porque no ofrec\u00eda ninguna garant\u00eda de que sus dep\u00f3sitos en el banco estuvieran seguros, ya que el valor de su dinero depend\u00eda de la capacidad del gobierno para mantener sus reservas de oro.", + "\u00a1Una idea divertida, pero al fin y al cabo una tonter\u00eda! Intentar otra vez." + ], + "id": "con respaldo de oro", + "question": "\u00bfCu\u00e1l fue el principal problema del sistema de patr\u00f3n oro para gobiernos y ciudadanos?", + "text": "En el pasado, algunos gobiernos vinculaban el valor de su moneda a una cantidad espec\u00edfica de oro, un sistema conocido como \"patr\u00f3n oro\". Esto significaba que el gobierno ten\u00eda que mantener una determinada cantidad de oro en reserva para poder emitir una determinada cantidad de moneda.\n\nEste sistema limit\u00f3 la capacidad del gobierno para pedir dinero prestado porque no pod\u00eda simplemente imprimir m\u00e1s moneda para cubrir el costo del pr\u00e9stamo. Los gobiernos a menudo ped\u00edan dinero prestado para financiar guerras u otros proyectos costosos, pero el patr\u00f3n oro les dificultaba hacerlo sin antes acumular suficiente oro para respaldar la nueva moneda que quer\u00edan emitir.\n\nEl patr\u00f3n oro tambi\u00e9n era problem\u00e1tico para los ciudadanos porque no ofrec\u00eda ninguna garant\u00eda de que sus dep\u00f3sitos en el banco estuvieran seguros, ya que el valor de su dinero depend\u00eda de la capacidad del gobierno para mantener sus reservas de oro.\n", + "title": "Del oro al respaldo en oro", + "type": "Texto" + }, + { + "answers": [ + "Vincular el valor de las monedas de otros pa\u00edses al valor del oro a trav\u00e9s del d\u00f3lar estadounidense.", + "Crear una nueva moneda global hecha de monedas de chocolate", + "Establecer una red de parques de trampolines en todas las ciudades importantes." + ], + "feedback": [ + "As\u00ed es. El sistema de Bretton Woods se estableci\u00f3 despu\u00e9s de la Segunda Guerra Mundial para abordar la inestabilidad econ\u00f3mica global y los altos niveles de deuda. Vincul\u00f3 el valor de las monedas de otros pa\u00edses al valor del d\u00f3lar estadounidense, que a su vez estaba vinculado al valor del oro a un tipo de cambio fijo.", + "Dulce idea, pero no muy pr\u00e1ctica. \u00bfO prefiere que su dinero se desperdicie a\u00fan m\u00e1s r\u00e1pido? Intentar otra vez", + "Los parques de trampolines seguramente habr\u00edan supuesto una gran distracci\u00f3n para el p\u00fablico de las extra\u00f1as maquinaciones del sistema de Bretton Woods. \u00bfHa considerado postularse como asesor en el FMI o el Banco Mundial? \u00a1Intentar otra vez!" + ], + "id": "bosque Bretton", + "question": "\u00bfCu\u00e1l fue el objetivo principal del sistema de Bretton Woods?", + "text": "Despu\u00e9s de la Primera y Segunda Guerra Mundial, muchos pa\u00edses estaban financieramente agotados y no ten\u00edan mucho dinero. Estados Unidos ten\u00eda mucho oro porque vendi\u00f3 muchas armas y otros equipos militares a otros pa\u00edses durante las guerras. Como resultado, Estados Unidos controlaba alrededor de dos tercios del oro del mundo.\n\nPara arreglar la econom\u00eda global, se cre\u00f3 un nuevo sistema en el que los pa\u00edses vincular\u00edan sus propias monedas al valor del d\u00f3lar estadounidense.\n\nEl d\u00f3lar estadounidense, a su vez, estar\u00eda vinculado al valor del oro. Esto significaba que el valor de las monedas de otros pa\u00edses se basar\u00eda en el valor del d\u00f3lar estadounidense, que se basaba en la cantidad de oro que ten\u00eda Estados Unidos.\n", + "title": "El sistema de Bretton Woods", + "type": "Texto" + }, + { + "answers": [ + "Un tipo de dinero que se utiliza ampliamente en el comercio internacional y en transacciones financieras.", + "Una moneda hecha con papel de los colores del arco\u00edris y purpurina.", + "La moneda de la naci\u00f3n que paga la mayor parte del presupuesto de la Organizaci\u00f3n Mundial del Comercio" + ], + "feedback": [ + "\u00a1Correcto! Una moneda de reserva global es un tipo de dinero que se utiliza ampliamente en el comercio internacional y en las transacciones financieras. Es la moneda preferida o m\u00e1s demandada para liquidar transacciones, ya que generalmente es estable y ampliamente aceptada.", + "Si bien la mayor\u00eda de los billetes est\u00e1n hechos de trozos de papel coloridos con hilos de brillantina como elementos de seguridad, esto no es lo que define una moneda de reserva global. Intentar otra vez", + "Seguramente esto beneficiar\u00eda inmensamente la financiaci\u00f3n de la OMC, pero no es as\u00ed como se define o elige la moneda de reserva global. \u00a1Intentar otra vez!" + ], + "id": "reserva global", + "question": "\u00bfQu\u00e9 es una moneda de reserva global?", + "text": "Una moneda de reserva global es un tipo de dinero que se utiliza ampliamente en el comercio internacional y en las transacciones financieras. Es la moneda preferida o m\u00e1s demandada para liquidar transacciones, ya que generalmente es estable y ampliamente aceptada.\n\nLos cambios en la moneda de reserva global pueden tener importantes implicaciones geopol\u00edticas, ya que pueden afectar el equilibrio de poder entre pa\u00edses.\n\nLa moneda de reserva global dominante normalmente ha tenido una vida \u00fatil de varias d\u00e9cadas, y el d\u00f3lar estadounidense fue la moneda de reserva global dominante durante gran parte del siglo XX.\n", + "title": "La moneda de reserva global", + "type": "Texto" + } + ], + "meta": { + "id": "La evoluci\u00f3n del dinero III", + "title": "La evoluci\u00f3n del dinero III" + } +} \ No newline at end of file diff --git a/chapter-205-the-evolution-of-money-iii/205.01-lesson-converging-on-gold.json b/chapter-205-the-evolution-of-money-iii/205.01-lesson-converging-on-gold.json new file mode 100644 index 0000000..d7cdea1 --- /dev/null +++ b/chapter-205-the-evolution-of-money-iii/205.01-lesson-converging-on-gold.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Because it cannot be destroyed or synthesized from other materials.", + "Because it is abundant and easy to find.", + "Because it is the most attractive and visually appealing metal." + ], + "feedback": [ + "Exactly**.** It's interesting to think about how the qualities of different materials, such as gold's durability and rarity, can make them more valuable and desirable as a form of money. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! While gold may have a certain aesthetic appeal, it's ultimately its functional qualities that make it a valuable form of money. Better luck with your next answer." + ], + "id": "convergingOnGold", + "question": "Why did the free market choose gold as a form of money", + "text": "From all monetary metals, the free market ultimately chose gold as a form of money because it has two important qualities that keep its value stable over long periods of time and across many regions of the world:\n\n1\\) Gold cannot be destroyed, and\n\n2\\) Gold cannot be made from other materials.\n", + "title": "Convergence on Gold", + "type": "Text" +} diff --git a/chapter-205-the-evolution-of-money-iii/205.02-lesson-origins-of-paper-money.json b/chapter-205-the-evolution-of-money-iii/205.02-lesson-origins-of-paper-money.json new file mode 100644 index 0000000..2cdcd2a --- /dev/null +++ b/chapter-205-the-evolution-of-money-iii/205.02-lesson-origins-of-paper-money.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To allow for the convenient exchange of gold in place of physically transporting it", + "To represent a promise to pay a debt", + "To transport large amounts of gold" + ], + "feedback": [ + "Congratulations! You're a gold exchange genius! Did you know that these paper notes were also known as \"bearer instruments,\" which means that they could be traded and redeemed by anyone in possession of them", + "Oh no, it looks like you've got a case of promissory confusion! Better luck next time", + "Transporting gold in paper form? That's a bold move." + ], + "id": "originsOfPaperMoney", + "question": "What were paper notes used for during the expansion of trade routes", + "text": "Gold can be made into coins or bars of a specific weight and purity. When trade routes expanded, it became riskier to transport large amounts of gold.\n\nAs a solution, paper notes from trusted banks that could be exchanged for gold were used. In 900 CE, Chinese merchants initiated the use of paper currency to avoid having to carry thousands of coins over long distances. They started trading paper receipts from custodians where they had deposited money or goods.\n\nIn the beginning these paper notes were personally registered, but they soon became a written order to pay the amount to whomever had it in their possession (bearer instrument). These notes can be seen as a predecessor to today's banknotes.\n", + "title": "The Origins of Paper Money Backed by Gold", + "type": "Text" +} diff --git a/chapter-205-the-evolution-of-money-iii/205.03-lesson-fractional-reserve.json b/chapter-205-the-evolution-of-money-iii/205.03-lesson-fractional-reserve.json new file mode 100644 index 0000000..d22ff54 --- /dev/null +++ b/chapter-205-the-evolution-of-money-iii/205.03-lesson-fractional-reserve.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To allow people to earn money from their gold", + "To make it easier for banks to hold large amounts of gold", + "To make it easier for banks to make loans" + ], + "feedback": [ + "Congratulations! You're a banking history expert! Did you know that Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans", + "Hmm, it looks like you're a little off the mark. Better luck next time", + "Sorry, but it looks like you're mixing up your banking systems. Better luck next time!" + ], + "id": "fractionalReserve", + "question": "Why did Fractional Reserve Banking develop", + "text": "Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans.\n\nOne reason this system developed is because people wanted to earn money from their gold, rather than paying to store it.\n\nThey could do this by allowing a bank or vault to lend out their gold and receiving interest payment in return.\n\nIf more people deposited their gold than wanted to take it back, the bank could make more profit by using the same gold as collateral for multiple loans, hence keeping only a fraction of loans in reserve.\n", + "title": "The Invention of Fractional Reserve Banking", + "type": "Text" +} diff --git a/chapter-205-the-evolution-of-money-iii/205.04-lesson-bank-run.json b/chapter-205-the-evolution-of-money-iii/205.04-lesson-bank-run.json new file mode 100644 index 0000000..31f9912 --- /dev/null +++ b/chapter-205-the-evolution-of-money-iii/205.04-lesson-bank-run.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A sudden drain of deposits en masse, leading to systemic fears and drying up of liquidity", + "A nice vacation for everyone", + "A sudden increase in the price of gasoline" + ], + "feedback": [ + "masse, leading to systemic fears and drying up of liquidity", + "Sorry, taking a vacation isn't quite the outcome we're looking for here. Better luck next time", + "Gas prices might fluctuate for a variety of reasons, but this particular scenario doesn't have much to do with it. Try again!" + ], + "id": "bankRun", + "question": "What is a potential outcome of banks issuing more paper notes than they held deposits", + "text": "Banks sometimes issued more paper notes than they had deposits, which could cause problems in the economy. If people started to doubt the solvency of a bank, they might rush to withdraw their money all at once before others do. This is called a bank run.\n\nThe sudden loss of deposits from the bank run could reveal that the bank was using too much leverage through Fractional Reserve Banking. This could cause a lack of liquidity and bring the whole financial system to a stop.\n", + "title": "Problems of Fractional Reserve Banking", + "type": "Text" +} diff --git a/chapter-205-the-evolution-of-money-iii/205.05-lesson-modern-central-banking.json b/chapter-205-the-evolution-of-money-iii/205.05-lesson-modern-central-banking.json new file mode 100644 index 0000000..e95f6cb --- /dev/null +++ b/chapter-205-the-evolution-of-money-iii/205.05-lesson-modern-central-banking.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To create a unified national currency and provide a backup plan for other banks", + "To sell ice cream and provide a place for people to play games", + "To act as a personal stylist and wardrobe consultant for the royal family" + ], + "feedback": [ + "Congratulations, you got it right! Did you know that central banks also act as the \"lender of last resort,\" meaning they can give out money when needed to make sure people's deposits are secure", + "I'm sorry, but central banks do not sell ice cream or provide a place for people to play games. They have much more important responsibilities", + "I'm afraid you are mistaken. Central banks do not act as personal stylists or wardrobe consultants for the royal family. Try again!" + ], + "id": "modernCentralBanking", + "question": "What is the purpose of a central bank", + "text": "To counter the problem of bank runs, governments created their own banks called \"central banks.\"\n\nThese central banks have the special power to create money. They act as a backup plan for when commercial banks run out of reserves and need extra money to stay open.\n\nBecause of this function, central banks are also called the \"lenders of last resort,\" meaning they can create and give out money when commercial banks need liquidity to service withdrawals.\n", + "title": "Modern Central Banking", + "type": "Text" +} diff --git a/chapter-205-the-evolution-of-money-iii/205.06-lesson-gold-backed.json b/chapter-205-the-evolution-of-money-iii/205.06-lesson-gold-backed.json new file mode 100644 index 0000000..dbb9c9a --- /dev/null +++ b/chapter-205-the-evolution-of-money-iii/205.06-lesson-gold-backed.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "It made it difficult for governments to borrow money", + "It made it hard for people to save money in the bank", + "It required governments to hold a petting zoo in their treasury" + ], + "feedback": [ + "Yep! The gold standard made it difficult for governments to borrow money because they had to hold a certain amount of gold in reserve in order to issue a certain amount of currency", + "I'm sorry, but the gold standard did not make it hard for people to save money in the bank. It was actually a problem for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves", + "An amusing idea, but nonsense nevertheless! Try again." + ], + "id": "goldBacked", + "question": "What was the main problem with the gold standard system for governments and citizens", + "text": "In the past, some governments linked the value of their currency to a specific amount of gold, a system known as a \"gold standard.\" This meant that the government had to hold a certain amount of gold in reserve in order to issue a certain amount of currency.\n\nThis system limited the government's ability to borrow money because they could not simply print more currency to cover the cost of borrowing. Governments often borrowed money to finance wars or other expensive projects, but the gold standard made it difficult for them to do so without first accumulating enough gold to back the new currency they wanted to issue.\n\nThe gold standard was also problematic for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves.\n", + "title": "From Gold to Gold-Backed", + "type": "Text" +} diff --git a/chapter-205-the-evolution-of-money-iii/205.07-lesson-bretton-woords.json b/chapter-205-the-evolution-of-money-iii/205.07-lesson-bretton-woords.json new file mode 100644 index 0000000..0bb8574 --- /dev/null +++ b/chapter-205-the-evolution-of-money-iii/205.07-lesson-bretton-woords.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To link the value of other countries' currencies to the value of gold through the US dollar", + "To create a new global currency made out of chocolate coins", + "To establish a network of trampoline parks in every major city" + ], + "feedback": [ + "That's right. The Bretton Woods system was established after World War II in order to address global economic instability and high levels of debt. It linked the value of other countries' currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate", + "Sweet idea, but not very practical. Or would you prefer your money to melt away even faster? Try again", + "Trampoline parks would have surely made for a great distraction of the public from the strange machinations of the Bretton Woods system. Have you considered applying as an advisor at the IMF or World Bank? Try again!" + ], + "id": "brettonWoods", + "question": "What was the main purpose of the Bretton Woods system", + "text": "After World War I and II, many countries were financially exhausted and did not have a lot of money. The United States had a lot of gold because they sold a lot of weapons and other military equipment to other countries during the wars. As a result, the United States controlled about two-thirds of the world's gold.\n\nIn order to fix the global economy, a new system was created where countries would link their own currencies to the value of the US dollar.\n\nThe US dollar, in turn, would be linked to the value of gold. This meant that the value of other countries' currencies would be based on the value of the US dollar, which was based on the amount of gold the United States had.\n", + "title": "The Bretton Woods System", + "type": "Text" +} diff --git a/chapter-205-the-evolution-of-money-iii/205.08-lesson-global-reserve.json b/chapter-205-the-evolution-of-money-iii/205.08-lesson-global-reserve.json new file mode 100644 index 0000000..7da93ec --- /dev/null +++ b/chapter-205-the-evolution-of-money-iii/205.08-lesson-global-reserve.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A type of money that is widely used in international trade and financial transactions", + "A currency made out of rainbow-colored paper and glitter", + "The currency of the nation that pays the biggest share of the World Trade Organization's budget" + ], + "feedback": [ + "Correct! A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted", + "While most banknotes are made of colorful pieces of paper with strings of glitter as security features in them, this is not what defines a global reserve currency. Try again", + "Surely this would benefit the WTO's funding immensely, but this is not how the global reserve currency is defined or chosen. Try again!" + ], + "id": "globalReserve", + "question": "What is a global reserve currency", + "text": "A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted.\n\nChanges to the global reserve currency can have significant geopolitical implications, as it can affect the balance of power between countries.\n\nThe dominant global reserve currency has typically had a lifespan of several decades, with the US dollar serving as the dominant global reserve currency for much of the 20th century.\n", + "title": "The Global Reserve Currency", + "type": "Text" +} diff --git a/chapter-206-the-evolution-of-money-iv/206-combined.json b/chapter-206-the-evolution-of-money-iv/206-combined.json new file mode 100644 index 0000000..c57ea74 --- /dev/null +++ b/chapter-206-the-evolution-of-money-iv/206-combined.json @@ -0,0 +1,144 @@ +{ + "content": [ + { + "answers": [ + "It ended and was replaced by a new monetary system based on floating exchange rates", + "It became a popular TV game show", + "It was turned into a giant roller coaster ride" + ], + "feedback": [ + "Correct! In 1971, President Nixon directed the US Treasury Secretary to stop allowing foreign governments to exchange their dollars for gold", + "Not quite, but a game show version of the Bretton Woods system sounds like it could be entertaining", + "I see what you did there, but this isn't the correct answer here. Try again!" + ], + "id": "nixonShock", + "question": "What happened to the Bretton Woods system in 1971", + "text": "The Bretton Woods system was a monetary system established after World War II in order to address global economic instability and high levels of debt.\n\nUnder this system, many countries pegged their own currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate. This meant that the value of other countries' currencies was indirectly tied to the value of gold through the US dollar.\n\nIn 1971, United States President Richard Nixon directed the US Treasury to stop allowing foreign governments to exchange their dollars for gold, a process known as \"convertibility.\"\n\nThe sudden end of convertibility of dollars for gold shocked the world and became known as the Nixon Shock, effectively ending the Bretton Woods system fixed exchange rates. It marked the beginning of a new monetary system based on floating exchange rates.\n", + "title": "The Nixon Shock", + "type": "Text" + }, + { + "answers": [ + "A currency issued by a government decree", + "A type of currency that is only accepted by merchants who love pizza", + "A currency made out of precious gems and metals" + ], + "feedback": [ + "Good job. Fiat money, such as Federal Reserve notes, is a type of currency issued by a government that is not directly exchangeable for a fixed amount of something else, like gold or silver. Its value comes from the fact that the government says it is valuable and people trust that they will be able to use it to buy things", + "Not quite, but a currency that is only accepted by pizza-loving merchants sounds like it could be a delicious way to pay for things", + "Nope, but a currency made out of precious gems and metals would definitely be shiny and eye-catching." + ], + "id": "fiatEra", + "question": "What does the word \"fiat\" mean when it is used to talk about money", + "text": "\"Fiat\" is a word that comes from Latin and means \"let it be done.\" When it is used to talk about money, it means that a government is creating a currency by decree alone.\n\nSince the Nixon Shock, fiat money is not backed by gold or silver and neither can it be directly converted for a fixed amount of gold, as it used to be before.\n\nThis means that their value comes from the fact that the government says they are valuable and that people trust that they will be able to use them to buy things.\n\nIn addition, governments often make it a law (legal tender) that merchants have to accept this type of fiat currency and that it is the only type of currency that can be used to pay taxes.\n", + "title": "The Fiat Era", + "type": "Text" + }, + { + "answers": [ + "A government issued money that exists only in digital form, like on a computer or phone", + "A type of currency that can only be used to buy things in the internet", + "A currency that can only be sent by email" + ], + "feedback": [ + "Good job. Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins, and is becoming increasingly popular due to its lower costs, faster speeds, and increased capabilities for surveillance", + "Not quite. While digital fiat is digital like the internet, it is also widely accepted at brick and mortar merchants. Try again", + "Nope, you guessed wrong. The use of such a currency would be extremely limited and doesn't exist to our knowledge. Try again!" + ], + "id": "digitalFiat", + "question": "What is digital fiat", + "text": "Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins.\n\nDigital fiat became possible with the proliferation of digital communication networks, like the internet, and the growth of consumer devices like computers and phones that can connect to these networks. Standardized payment protocols, which are established ways of making payments online, also played a role in the emergence of digital fiat.\n\nDigital fiat is increasingly replacing physical fiat due to its lower costs, faster speeds, and increased capabilities for surveillance. In other words, it is cheaper and faster to use digital fiat and it is easier to track transactions made with digital fiat.\n", + "title": "Digital Fiat", + "type": "Text" + }, + { + "answers": [ + "A type of payment card that allows people to borrow money to pay for things", + "A card that grants the holder special powers, like the ability to fly", + "A card that allows people to pay for things by waving their hand over a sensor" + ], + "feedback": [ + "Correct. A credit card is a type of payment card that allows people to borrow money from the credit card company to pay for things now, rather than saving up money to pay for things later. There are about three billion credit cards in use around the world today", + "Not quite, but a credit card that grants special powers like the ability to fly sounds like it could be a lot of fun", + "Nope, but a credit card that allows people to pay for things by waving their hand over a sensor sounds like something out of a science fiction movie, not real life." + ], + "id": "plasticCredit", + "question": "What is a credit card", + "text": "The credit card is a type of payment card that allows people to borrow money to pay for things. When people use credit cards, they are borrowing money from the credit card company to pay for things now, rather than saving up money to pay for things later.\n\nThis has gradually normalized the act of borrowing for consumption, something that impacts the time preference of users. Instead of waiting to save up the money, the invention of credit cards has made it more common for people to borrow money to buy things they want right away\n\nToday, there are about three billion credit cards in use around the world.\n", + "title": "Plastic Credit", + "type": "Text" + }, + { + "answers": [ + "The ability to ensure that the same digital unit of money cannot be spent more than once by its owner", + "The desire to create a digital currency that could only be spent on Mars", + "The idea of rewarding honesty and making dishonesty very costly" + ], + "feedback": [ + "Good job. In the digital world, where it is easy to copy things, it is important to make sure that the same digital unit of money (like a digital coin) cannot be spent more than once by its owner. This was a key factor in the creation of Bitcoin, as it is important for a monetary system that works without a central authority (like a government)", + "Not quite, but a digital currency that could only be spent on Mars sounds like it could be a fun way to support the colonization of the red planet", + "Nope, but the idea of rewarding honesty and making dishonesty very costly is a key factor in the creation of any monetary system, as it helps to ensure trust and cooperation among participants." + ], + "id": "doubleSpendProblem", + "question": "What was a key factor in the creation of Bitcoin", + "text": "In the digital world, it is easy to copy things, so it is important to make sure that the same digital unit of money cannot be spent more than once by its owner.\n\nIn a monetary system with a central authority (like a government), this problem is trivially solved by keeping a ledger of transactions managed by the central authority. However, this normally represents a single point of failure from both availability and trust viewpoints.\n\nIn a decentralized system, the double-spending problem is significantly harder to solve. Many people have tried to create digital money that is not controlled by a government, but they have all had their own unique challenges.\n\nSatoshi Nakamoto took all of these lessons into account and was the first to solve the double spending problem with the implementation of Bitcoin by creating a decentralized system that rewards honesty and makes it very costly to be dishonest.\n", + "title": "The Double Spending Problem", + "type": "Text" + }, + { + "answers": [ + "The double spending problem", + "The problem of double coincidence of wants", + "The halving problem" + ], + "feedback": [ + "Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once", + "Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again", + "Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!" + ], + "id": "satoshisBreakthrough", + "question": "Which problem did Satoshi have to solve to create Bitcoin", + "text": "Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.\n\nHis solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.\n", + "title": "Satoshi's Breakthrough", + "type": "Text" + }, + { + "answers": [ + "Digital fiat money is based on a product from the industrial age, while Bitcoin is a purpose-built money for the digital age", + "Digital fiat money is open-source, while Bitcoin is a closed system", + "Digital fiat money is designed to increase in value over time, while Bitcoin is designed to lose value" + ], + "feedback": [ + "for the digital age", + "It seems you got things mixed up. It's actually the other way around. Try again", + "Sorry, that's not quite right. Bitcoin is likely to increase in value over time due to its strictly fixed supply and growing deman, while inflation decreases the value of fiat currencies quite reliably." + ], + "id": "nativelyDigital", + "question": "What is the main difference between digital fiat money and Bitcoin", + "text": "Digital fiat money is a digital version of a product that was designed for the industrial age. It has all of the same problems and limitations as the original product. It is a closed system that is heavily controlled and designed to lose value over time.\n\nBitcoin is a type of digital money that was specifically designed for the digital age. It can be improved and updated, and anyone can see and change the code that it is based on. It benefits from the ideas and creativity of anyone who works on it.\n", + "title": "Purpose-built for the Digital Age", + "type": "Text" + }, + { + "answers": [ + "To provide surveillance and censorship capabilities to the issuer", + "To compete with Bitcoin as a store of value", + "To create a decentralized and permissionless digital currency" + ], + "feedback": [ + "That's correct! CBDCs are like the Big Brother of digital currencies, designed to provide surveillance and censorship capabilities to the issuer. Creepy, but correct", + "Haha, sorry but no. While Bitcoin and CBDCs are both digital currencies, they have very different purposes and characteristics. CBDCs are issued and backed by central banks, while Bitcoin is decentralized and not controlled by any government or financial institution", + "Oh boy, that's a creative answer but unfortunately not quite right. CBDCs are not designed to be decentralized or permissionless like Bitcoin. In fact, they are issued and backed by central banks, and their main purpose is to be the ultimate tool for control in the digital age. Better luck next time!" + ], + "id": "CBDCs", + "question": "What is the main purpose of central bank digital currencies (CBDCs)", + "text": "Central bank digital currencies (CBDCs) are digital versions of traditional currency that are issued and backed by a central bank.\n\nCBDCs are not decentralized or permissionless like Bitcoin, and are instead intended to compete with other forms of digital payment methods for market dominance.\n\nOne of the main reasons for the development of CBDCs is the surveillance and censorship capabilities they provide the issuer.\n\nAdditionally, in an age of negative real interest rates (when the inflation rate is higher than the interest rate), the widespread adoption of CBDCs often goes hand in hand with the phasing out of physical cash, which can lead to the devaluation of the currency in real terms.\n", + "title": "Central Bank Digital Currencies", + "type": "Text" + } + ], + "meta": { + "id": "TheEvolutionofMoneyIV", + "title": "The Evolution of Money IV" + } +} diff --git a/chapter-206-the-evolution-of-money-iv/206-es-combined.json b/chapter-206-the-evolution-of-money-iv/206-es-combined.json new file mode 100644 index 0000000..fd40d99 --- /dev/null +++ b/chapter-206-the-evolution-of-money-iv/206-es-combined.json @@ -0,0 +1,144 @@ +{ + "content": [ + { + "answers": [ + "Termin\u00f3 y fue reemplazado por un nuevo sistema monetario basado en tipos de cambio flotantes.", + "Se convirti\u00f3 en un popular programa de juegos de televisi\u00f3n.", + "Se convirti\u00f3 en una monta\u00f1a rusa gigante." + ], + "feedback": [ + "\u00a1Correcto! En 1971, el presidente Nixon orden\u00f3 al Secretario del Tesoro de Estados Unidos que dejara de permitir a los gobiernos extranjeros cambiar sus d\u00f3lares por oro.", + "No del todo, pero una versi\u00f3n de programa de juegos del sistema de Bretton Woods parece que podr\u00eda ser entretenida.", + "Veo lo que hiciste all\u00ed, pero esta no es la respuesta correcta aqu\u00ed. \u00a1Intentar otra vez!" + ], + "id": "nixonchoque", + "question": "\u00bfQu\u00e9 pas\u00f3 con el sistema de Bretton Woods en 1971?", + "text": "El sistema de Bretton Woods fue un sistema monetario establecido despu\u00e9s de la Segunda Guerra Mundial para abordar la inestabilidad econ\u00f3mica global y los altos niveles de deuda.\n\nBajo este sistema, muchos pa\u00edses vinculaban sus propias monedas al valor del d\u00f3lar estadounidense, que a su vez estaba vinculado al valor del oro a un tipo de cambio fijo. Esto signific\u00f3 que el valor de las monedas de otros pa\u00edses estaba indirectamente vinculado al valor del oro a trav\u00e9s del d\u00f3lar estadounidense.\n\nEn 1971, el presidente estadounidense Richard Nixon orden\u00f3 al Tesoro estadounidense que dejara de permitir a los gobiernos extranjeros cambiar sus d\u00f3lares por oro, un proceso conocido como \"convertibilidad\".\n\nEl repentino fin de la convertibilidad del d\u00f3lar por oro conmocion\u00f3 al mundo y se conoci\u00f3 como el Shock de Nixon, poniendo fin de hecho al sistema de tipos de cambio fijos de Bretton Woods. Marc\u00f3 el comienzo de un nuevo sistema monetario basado en tipos de cambio flotantes.\n", + "title": "El shock de Nixon", + "type": "Texto" + }, + { + "answers": [ + "Una moneda emitida por un decreto gubernamental.", + "Un tipo de moneda que s\u00f3lo aceptan los comerciantes amantes de la pizza", + "Una moneda hecha de gemas y metales preciosos." + ], + "feedback": [ + "Buen trabajo. El dinero fiduciario, como los billetes de la Reserva Federal, es un tipo de moneda emitida por un gobierno que no se puede cambiar directamente por una cantidad fija de otra cosa, como oro o plata. Su valor proviene del hecho de que el gobierno dice que es valioso y la gente conf\u00eda en que podr\u00e1n usarlo para comprar cosas.", + "No del todo, pero una moneda que s\u00f3lo aceptan los comerciantes amantes de las pizzas parece que podr\u00eda ser una forma deliciosa de pagar las cosas.", + "No, pero una moneda hecha de gemas y metales preciosos definitivamente ser\u00eda brillante y llamativa." + ], + "id": "fiatEra", + "question": "\u00bfQu\u00e9 significa la palabra \"fiat\" cuando se usa para hablar de dinero?", + "text": "\"Fiat\" es una palabra que proviene del lat\u00edn y significa \"h\u00e1gase\". Cuando se usa para hablar de dinero, significa que un gobierno est\u00e1 creando una moneda \u00fanicamente por decreto.\n\nDesde el shock de Nixon, el dinero fiduciario no est\u00e1 respaldado por oro o plata y tampoco puede convertirse directamente en una cantidad fija de oro, como sol\u00eda ser antes.\n\nEsto significa que su valor proviene del hecho de que el gobierno dice que son valiosos y que la gente conf\u00eda en que podr\u00e1 utilizarlos para comprar cosas.\n\nAdem\u00e1s, los gobiernos suelen convertir en ley (moneda de curso legal) que los comerciantes deben aceptar este tipo de moneda fiduciaria y que es el \u00fanico tipo de moneda que se puede utilizar para pagar impuestos.\n", + "title": "La era fiat", + "type": "Texto" + }, + { + "answers": [ + "Un dinero emitido por el gobierno que existe s\u00f3lo en forma digital, como en una computadora o un tel\u00e9fono.", + "Un tipo de moneda que s\u00f3lo se puede utilizar para comprar cosas en Internet.", + "Una moneda que s\u00f3lo se puede enviar por correo electr\u00f3nico" + ], + "feedback": [ + "Buen trabajo. El dinero fiduciario digital es un tipo de dinero que existe s\u00f3lo en forma digital, como en una computadora o un tel\u00e9fono. Es una representaci\u00f3n digital del efectivo f\u00edsico, como billetes o monedas, y se est\u00e1 volviendo cada vez m\u00e1s popular debido a sus costos m\u00e1s bajos, velocidades m\u00e1s r\u00e1pidas y mayores capacidades de vigilancia.", + "No exactamente. Si bien el dinero fiduciario digital es digital como Internet, tambi\u00e9n es ampliamente aceptado entre los comerciantes tradicionales. Intentar otra vez", + "No, adivinaste mal. El uso de dicha moneda ser\u00eda extremadamente limitado y, hasta donde sabemos, no existe. \u00a1Intentar otra vez!" + ], + "id": "digitalFiat", + "question": "\u00bfQu\u00e9 es el dinero fiduciario digital?", + "text": "El dinero fiduciario digital es un tipo de dinero que existe s\u00f3lo en forma digital, como en una computadora o un tel\u00e9fono. Es una representaci\u00f3n digital de efectivo f\u00edsico, como papel moneda o monedas.\n\nEl fiat digital se hizo posible con la proliferaci\u00f3n de redes de comunicaci\u00f3n digitales, como Internet, y el crecimiento de dispositivos de consumo como computadoras y tel\u00e9fonos que pueden conectarse a estas redes. Los protocolos de pago estandarizados, que son formas establecidas de realizar pagos en l\u00ednea, tambi\u00e9n desempe\u00f1aron un papel en el surgimiento del dinero fiduciario digital.\n\nEl fiat digital est\u00e1 reemplazando cada vez m\u00e1s al fiat f\u00edsico debido a sus menores costos, velocidades m\u00e1s r\u00e1pidas y mayores capacidades de vigilancia. En otras palabras, es m\u00e1s barato y r\u00e1pido utilizar dinero fiduciario digital y es m\u00e1s f\u00e1cil rastrear las transacciones realizadas con dinero fiduciario digital.\n", + "title": "F\u00edat digital", + "type": "Texto" + }, + { + "answers": [ + "Un tipo de tarjeta de pago que permite a las personas pedir dinero prestado para pagar cosas.", + "Una tarjeta que otorga a su poseedor poderes especiales, como la capacidad de volar.", + "Una tarjeta que permite pagar cosas moviendo la mano sobre un sensor" + ], + "feedback": [ + "Correcto. Una tarjeta de cr\u00e9dito es un tipo de tarjeta de pago que permite a las personas pedir dinero prestado a la compa\u00f1\u00eda de la tarjeta de cr\u00e9dito para pagar cosas ahora, en lugar de ahorrar dinero para pagarlas m\u00e1s tarde. Hoy en d\u00eda se utilizan alrededor de tres mil millones de tarjetas de cr\u00e9dito en todo el mundo.", + "No del todo, pero una tarjeta de cr\u00e9dito que otorga poderes especiales como la capacidad de volar parece que podr\u00eda ser muy divertida.", + "No, pero una tarjeta de cr\u00e9dito que permite a la gente pagar cosas moviendo la mano sobre un sensor suena como algo sacado de una pel\u00edcula de ciencia ficci\u00f3n, no de la vida real." + ], + "id": "pl\u00e1sticoCr\u00e9dito", + "question": "Qu\u00e9 es una tarjeta de cr\u00e9dito", + "text": "La tarjeta de cr\u00e9dito es un tipo de tarjeta de pago que permite a las personas pedir dinero prestado para pagar cosas. Cuando las personas usan tarjetas de cr\u00e9dito, est\u00e1n pidiendo dinero prestado a la compa\u00f1\u00eda de tarjetas de cr\u00e9dito para pagar cosas ahora, en lugar de ahorrar dinero para pagarlas m\u00e1s tarde.\n\nEsto ha ido normalizando paulatinamente el acto de endeudarse para consumo, algo que impacta en la preferencia temporal de los usuarios. En lugar de esperar para ahorrar dinero, la invenci\u00f3n de las tarjetas de cr\u00e9dito ha hecho que sea m\u00e1s com\u00fan que las personas pidan dinero prestado para comprar las cosas que desean de inmediato.\n\nHoy en d\u00eda se utilizan alrededor de tres mil millones de tarjetas de cr\u00e9dito en todo el mundo.\n", + "title": "Cr\u00e9dito Pl\u00e1stico", + "type": "Texto" + }, + { + "answers": [ + "La capacidad de garantizar que su propietario no pueda gastar la misma unidad digital de dinero m\u00e1s de una vez.", + "El deseo de crear una moneda digital que solo pueda gastarse en Marte", + "La idea de premiar la honestidad y hacer muy costosa la deshonestidad" + ], + "feedback": [ + "Buen trabajo. En el mundo digital, donde es f\u00e1cil copiar cosas, es importante asegurarse de que su propietario no pueda gastar la misma unidad digital de dinero (como una moneda digital) m\u00e1s de una vez. Este fue un factor clave en la creaci\u00f3n de Bitcoin, ya que es importante para un sistema monetario que funciona sin una autoridad central (como un gobierno).", + "No del todo, pero una moneda digital que solo podr\u00eda gastarse en Marte parece que podr\u00eda ser una forma divertida de apoyar la colonizaci\u00f3n del planeta rojo.", + "No, pero la idea de recompensar la honestidad y hacer que la deshonestidad sea muy costosa es un factor clave en la creaci\u00f3n de cualquier sistema monetario, ya que ayuda a garantizar la confianza y la cooperaci\u00f3n entre los participantes." + ], + "id": "doble gastoProblema", + "question": "\u00bfCu\u00e1l fue un factor clave en la creaci\u00f3n de Bitcoin?", + "text": "En el mundo digital, es f\u00e1cil copiar cosas, por lo que es importante asegurarse de que su propietario no pueda gastar la misma unidad digital de dinero m\u00e1s de una vez.\n\nEn un sistema monetario con una autoridad central (como un gobierno), este problema se resuelve trivialmente manteniendo un libro de transacciones administrado por la autoridad central. Sin embargo, esto normalmente representa un \u00fanico punto de falla tanto desde el punto de vista de la disponibilidad como de la confianza.\n\nEn un sistema descentralizado, el problema del doble gasto es mucho m\u00e1s dif\u00edcil de resolver. Muchas personas han intentado crear dinero digital que no est\u00e9 controlado por un gobierno, pero todos han tenido sus propios desaf\u00edos \u00fanicos.\n\nSatoshi Nakamoto tuvo en cuenta todas estas lecciones y fue el primero en resolver el problema del doble gasto con la implementaci\u00f3n de Bitcoin creando un sistema descentralizado que premia la honestidad y hace muy costoso ser deshonesto.\n", + "title": "El problema del doble gasto", + "type": "Texto" + }, + { + "answers": [ + "El problema del doble gasto", + "El problema de la doble coincidencia de deseos", + "El problema de la reducci\u00f3n a la mitad" + ], + "feedback": [ + "Buen trabajo. Bitcoin utiliza un mecanismo de consenso de prueba de trabajo en el que las transacciones se agrupan en bloques y se encadenan en una cadena de bloques. De esta manera, cada usuario sabe que cada moneda s\u00f3lo se gasta una vez.", + "No exactamente. La doble coincidencia de necesidades es un problema de trueque que se puede solucionar con dinero. Intentar otra vez", + "Ja no. \u00a1La reducci\u00f3n a la mitad de bitcoin no es un problema, sino parte de la soluci\u00f3n que dise\u00f1\u00f3 Satoshi! M\u00e1s sobre eso en el Cap\u00edtulo 302. \u00a1Int\u00e9ntalo de nuevo!" + ], + "id": "satoshisAvance", + "question": "\u00bfQu\u00e9 problema tuvo que resolver Satoshi para crear Bitcoin?", + "text": "La soluci\u00f3n de Satoshi al problema del doble gasto fue un gran avance en inform\u00e1tica y sistemas distribuidos. Hasta Bitcoin, muchos cre\u00edan que ser\u00eda irresoluble.\n\nSu soluci\u00f3n permiti\u00f3 a Satoshi desarrollar un nuevo sistema de efectivo electr\u00f3nico que por primera vez hizo posible que las personas se enviaran dinero digital directamente entre s\u00ed, sin necesidad de ayuda de un banco u otra organizaci\u00f3n.\n", + "title": "El avance de Satoshi", + "type": "Texto" + }, + { + "answers": [ + "El dinero fiduciario digital se basa en un producto de la era industrial, mientras que Bitcoin es un dinero creado espec\u00edficamente para la era digital.", + "El dinero fiduciario digital es de c\u00f3digo abierto, mientras que Bitcoin es un sistema cerrado", + "El dinero fiduciario digital est\u00e1 dise\u00f1ado para aumentar su valor con el tiempo, mientras que Bitcoin est\u00e1 dise\u00f1ado para perder valor" + ], + "feedback": [ + "para la era digital", + "Parece que confundiste las cosas. En realidad es al rev\u00e9s. Intentar otra vez", + "Lo siento, eso no est\u00e1 del todo bien. Es probable que Bitcoin aumente su valor con el tiempo debido a su oferta estrictamente fija y su creciente demanda, mientras que la inflaci\u00f3n disminuye el valor de las monedas fiduciarias de manera bastante confiable." + ], + "id": "de forma nativaDigital", + "question": "\u00bfCu\u00e1l es la principal diferencia entre el dinero fiduciario digital y Bitcoin?", + "text": "El dinero fiduciario digital es una versi\u00f3n digital de un producto dise\u00f1ado para la era industrial. Tiene los mismos problemas y limitaciones que el producto original. Es un sistema cerrado, fuertemente controlado y dise\u00f1ado para perder valor con el tiempo.\n\nBitcoin es un tipo de dinero digital dise\u00f1ado espec\u00edficamente para la era digital. Se puede mejorar y actualizar, y cualquiera puede ver y cambiar el c\u00f3digo en el que se basa. Se beneficia de las ideas y la creatividad de cualquiera que trabaje en \u00e9l.\n", + "title": "Dise\u00f1ado espec\u00edficamente para la era digital", + "type": "Texto" + }, + { + "answers": [ + "Proporcionar capacidades de vigilancia y censura al emisor.", + "Competir con Bitcoin como reserva de valor", + "Para crear una moneda digital descentralizada y sin permisos" + ], + "feedback": [ + "\u00a1Eso es correcto! Las CBDC son como el Gran Hermano de las monedas digitales, dise\u00f1adas para brindar capacidades de vigilancia y censura al emisor. Espeluznante, pero correcto", + "Jaja, lo siento pero no. Si bien Bitcoin y CBDC son monedas digitales, tienen prop\u00f3sitos y caracter\u00edsticas muy diferentes. Las CBDC son emitidas y respaldadas por bancos centrales, mientras que Bitcoin est\u00e1 descentralizado y no est\u00e1 controlado por ning\u00fan gobierno o instituci\u00f3n financiera.", + "Vaya, esa es una respuesta creativa pero desafortunadamente no del todo correcta. Las CBDC no est\u00e1n dise\u00f1adas para ser descentralizadas o sin permisos como Bitcoin. De hecho, son emitidos y respaldados por bancos centrales, y su objetivo principal es ser la herramienta definitiva de control en la era digital. \u00a1Mejor suerte la pr\u00f3xima vez!" + ], + "id": "CBDC", + "question": "\u00bfCu\u00e1l es el objetivo principal de las monedas digitales de los bancos centrales (CBDC)?", + "text": "Las monedas digitales del banco central (CBDC) son versiones digitales de la moneda tradicional emitidas y respaldadas por un banco central.\n\nLas CBDC no est\u00e1n descentralizadas ni carecen de permisos como Bitcoin, sino que est\u00e1n destinadas a competir con otras formas de m\u00e9todos de pago digitales por el dominio del mercado.\n\nUna de las principales razones para el desarrollo de las CBDC son las capacidades de vigilancia y censura que brindan al emisor.\n\nAdem\u00e1s, en una era de tipos de inter\u00e9s reales negativos (cuando la tasa de inflaci\u00f3n es superior a la tasa de inter\u00e9s), la adopci\u00f3n generalizada de CBDC suele ir de la mano de la eliminaci\u00f3n gradual del efectivo f\u00edsico, lo que puede conducir a la devaluaci\u00f3n de la moneda. En t\u00e9rminos reales.\n", + "title": "Monedas digitales del banco central", + "type": "Texto" + } + ], + "meta": { + "id": "La evoluci\u00f3n del dinero IV", + "title": "La evoluci\u00f3n del dinero IV" + } +} \ No newline at end of file diff --git a/chapter-206-the-evolution-of-money-iv/206.01-lesson-nixon-shock.json b/chapter-206-the-evolution-of-money-iv/206.01-lesson-nixon-shock.json new file mode 100644 index 0000000..1e1cb41 --- /dev/null +++ b/chapter-206-the-evolution-of-money-iv/206.01-lesson-nixon-shock.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "It ended and was replaced by a new monetary system based on floating exchange rates", + "It became a popular TV game show", + "It was turned into a giant roller coaster ride" + ], + "feedback": [ + "Correct! In 1971, President Nixon directed the US Treasury Secretary to stop allowing foreign governments to exchange their dollars for gold", + "Not quite, but a game show version of the Bretton Woods system sounds like it could be entertaining", + "I see what you did there, but this isn't the correct answer here. Try again!" + ], + "id": "nixonShock", + "question": "What happened to the Bretton Woods system in 1971", + "text": "The Bretton Woods system was a monetary system established after World War II in order to address global economic instability and high levels of debt.\n\nUnder this system, many countries pegged their own currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate. This meant that the value of other countries' currencies was indirectly tied to the value of gold through the US dollar.\n\nIn 1971, United States President Richard Nixon directed the US Treasury to stop allowing foreign governments to exchange their dollars for gold, a process known as \"convertibility.\"\n\nThe sudden end of convertibility of dollars for gold shocked the world and became known as the Nixon Shock, effectively ending the Bretton Woods system fixed exchange rates. It marked the beginning of a new monetary system based on floating exchange rates.\n", + "title": "The Nixon Shock", + "type": "Text" +} diff --git a/chapter-206-the-evolution-of-money-iv/206.02-lesson-fiat-era.json b/chapter-206-the-evolution-of-money-iv/206.02-lesson-fiat-era.json new file mode 100644 index 0000000..258ae37 --- /dev/null +++ b/chapter-206-the-evolution-of-money-iv/206.02-lesson-fiat-era.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A currency issued by a government decree", + "A type of currency that is only accepted by merchants who love pizza", + "A currency made out of precious gems and metals" + ], + "feedback": [ + "Good job. Fiat money, such as Federal Reserve notes, is a type of currency issued by a government that is not directly exchangeable for a fixed amount of something else, like gold or silver. Its value comes from the fact that the government says it is valuable and people trust that they will be able to use it to buy things", + "Not quite, but a currency that is only accepted by pizza-loving merchants sounds like it could be a delicious way to pay for things", + "Nope, but a currency made out of precious gems and metals would definitely be shiny and eye-catching." + ], + "id": "fiatEra", + "question": "What does the word \"fiat\" mean when it is used to talk about money", + "text": "\"Fiat\" is a word that comes from Latin and means \"let it be done.\" When it is used to talk about money, it means that a government is creating a currency by decree alone.\n\nSince the Nixon Shock, fiat money is not backed by gold or silver and neither can it be directly converted for a fixed amount of gold, as it used to be before.\n\nThis means that their value comes from the fact that the government says they are valuable and that people trust that they will be able to use them to buy things.\n\nIn addition, governments often make it a law (legal tender) that merchants have to accept this type of fiat currency and that it is the only type of currency that can be used to pay taxes.\n", + "title": "The Fiat Era", + "type": "Text" +} diff --git a/chapter-206-the-evolution-of-money-iv/206.03-lesson-digital-fiat.json b/chapter-206-the-evolution-of-money-iv/206.03-lesson-digital-fiat.json new file mode 100644 index 0000000..ec03ae7 --- /dev/null +++ b/chapter-206-the-evolution-of-money-iv/206.03-lesson-digital-fiat.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A government issued money that exists only in digital form, like on a computer or phone", + "A type of currency that can only be used to buy things in the internet", + "A currency that can only be sent by email" + ], + "feedback": [ + "Good job. Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins, and is becoming increasingly popular due to its lower costs, faster speeds, and increased capabilities for surveillance", + "Not quite. While digital fiat is digital like the internet, it is also widely accepted at brick and mortar merchants. Try again", + "Nope, you guessed wrong. The use of such a currency would be extremely limited and doesn't exist to our knowledge. Try again!" + ], + "id": "digitalFiat", + "question": "What is digital fiat", + "text": "Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins.\n\nDigital fiat became possible with the proliferation of digital communication networks, like the internet, and the growth of consumer devices like computers and phones that can connect to these networks. Standardized payment protocols, which are established ways of making payments online, also played a role in the emergence of digital fiat.\n\nDigital fiat is increasingly replacing physical fiat due to its lower costs, faster speeds, and increased capabilities for surveillance. In other words, it is cheaper and faster to use digital fiat and it is easier to track transactions made with digital fiat.\n", + "title": "Digital Fiat", + "type": "Text" +} diff --git a/chapter-206-the-evolution-of-money-iv/206.04-lesson-plastic-credit.json b/chapter-206-the-evolution-of-money-iv/206.04-lesson-plastic-credit.json new file mode 100644 index 0000000..d8d345d --- /dev/null +++ b/chapter-206-the-evolution-of-money-iv/206.04-lesson-plastic-credit.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A type of payment card that allows people to borrow money to pay for things", + "A card that grants the holder special powers, like the ability to fly", + "A card that allows people to pay for things by waving their hand over a sensor" + ], + "feedback": [ + "Correct. A credit card is a type of payment card that allows people to borrow money from the credit card company to pay for things now, rather than saving up money to pay for things later. There are about three billion credit cards in use around the world today", + "Not quite, but a credit card that grants special powers like the ability to fly sounds like it could be a lot of fun", + "Nope, but a credit card that allows people to pay for things by waving their hand over a sensor sounds like something out of a science fiction movie, not real life." + ], + "id": "plasticCredit", + "question": "What is a credit card", + "text": "The credit card is a type of payment card that allows people to borrow money to pay for things. When people use credit cards, they are borrowing money from the credit card company to pay for things now, rather than saving up money to pay for things later.\n\nThis has gradually normalized the act of borrowing for consumption, something that impacts the time preference of users. Instead of waiting to save up the money, the invention of credit cards has made it more common for people to borrow money to buy things they want right away\n\nToday, there are about three billion credit cards in use around the world.\n", + "title": "Plastic Credit", + "type": "Text" +} diff --git a/chapter-206-the-evolution-of-money-iv/206.05-lesson-double-spend-problem.json b/chapter-206-the-evolution-of-money-iv/206.05-lesson-double-spend-problem.json new file mode 100644 index 0000000..55d3423 --- /dev/null +++ b/chapter-206-the-evolution-of-money-iv/206.05-lesson-double-spend-problem.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The ability to ensure that the same digital unit of money cannot be spent more than once by its owner", + "The desire to create a digital currency that could only be spent on Mars", + "The idea of rewarding honesty and making dishonesty very costly" + ], + "feedback": [ + "Good job. In the digital world, where it is easy to copy things, it is important to make sure that the same digital unit of money (like a digital coin) cannot be spent more than once by its owner. This was a key factor in the creation of Bitcoin, as it is important for a monetary system that works without a central authority (like a government)", + "Not quite, but a digital currency that could only be spent on Mars sounds like it could be a fun way to support the colonization of the red planet", + "Nope, but the idea of rewarding honesty and making dishonesty very costly is a key factor in the creation of any monetary system, as it helps to ensure trust and cooperation among participants." + ], + "id": "doubleSpendProblem", + "question": "What was a key factor in the creation of Bitcoin", + "text": "In the digital world, it is easy to copy things, so it is important to make sure that the same digital unit of money cannot be spent more than once by its owner.\n\nIn a monetary system with a central authority (like a government), this problem is trivially solved by keeping a ledger of transactions managed by the central authority. However, this normally represents a single point of failure from both availability and trust viewpoints.\n\nIn a decentralized system, the double-spending problem is significantly harder to solve. Many people have tried to create digital money that is not controlled by a government, but they have all had their own unique challenges.\n\nSatoshi Nakamoto took all of these lessons into account and was the first to solve the double spending problem with the implementation of Bitcoin by creating a decentralized system that rewards honesty and makes it very costly to be dishonest.\n", + "title": "The Double Spending Problem", + "type": "Text" +} diff --git a/chapter-206-the-evolution-of-money-iv/206.06-lesson-innovative-solution.json b/chapter-206-the-evolution-of-money-iv/206.06-lesson-innovative-solution.json new file mode 100644 index 0000000..d6689f9 --- /dev/null +++ b/chapter-206-the-evolution-of-money-iv/206.06-lesson-innovative-solution.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The double spending problem", + "The problem of double coincidence of wants", + "The halving problem" + ], + "feedback": [ + "Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once", + "Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again", + "Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!" + ], + "id": "satoshisBreakthrough", + "question": "Which problem did Satoshi have to solve to create Bitcoin", + "text": "Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.\n\nHis solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.\n", + "title": "Satoshi's Breakthrough", + "type": "Text" +} diff --git a/chapter-206-the-evolution-of-money-iv/206.07-lesson-natively-digital.json b/chapter-206-the-evolution-of-money-iv/206.07-lesson-natively-digital.json new file mode 100644 index 0000000..c8445c7 --- /dev/null +++ b/chapter-206-the-evolution-of-money-iv/206.07-lesson-natively-digital.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Digital fiat money is based on a product from the industrial age, while Bitcoin is a purpose-built money for the digital age", + "Digital fiat money is open-source, while Bitcoin is a closed system", + "Digital fiat money is designed to increase in value over time, while Bitcoin is designed to lose value" + ], + "feedback": [ + "for the digital age", + "It seems you got things mixed up. It's actually the other way around. Try again", + "Sorry, that's not quite right. Bitcoin is likely to increase in value over time due to its strictly fixed supply and growing deman, while inflation decreases the value of fiat currencies quite reliably." + ], + "id": "nativelyDigital", + "question": "What is the main difference between digital fiat money and Bitcoin", + "text": "Digital fiat money is a digital version of a product that was designed for the industrial age. It has all of the same problems and limitations as the original product. It is a closed system that is heavily controlled and designed to lose value over time.\n\nBitcoin is a type of digital money that was specifically designed for the digital age. It can be improved and updated, and anyone can see and change the code that it is based on. It benefits from the ideas and creativity of anyone who works on it.\n", + "title": "Purpose-built for the Digital Age", + "type": "Text" +} diff --git a/chapter-206-the-evolution-of-money-iv/206.08-lesson-cdbcs.json b/chapter-206-the-evolution-of-money-iv/206.08-lesson-cdbcs.json new file mode 100644 index 0000000..3054a7c --- /dev/null +++ b/chapter-206-the-evolution-of-money-iv/206.08-lesson-cdbcs.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To provide surveillance and censorship capabilities to the issuer", + "To compete with Bitcoin as a store of value", + "To create a decentralized and permissionless digital currency" + ], + "feedback": [ + "That's correct! CBDCs are like the Big Brother of digital currencies, designed to provide surveillance and censorship capabilities to the issuer. Creepy, but correct", + "Haha, sorry but no. While Bitcoin and CBDCs are both digital currencies, they have very different purposes and characteristics. CBDCs are issued and backed by central banks, while Bitcoin is decentralized and not controlled by any government or financial institution", + "Oh boy, that's a creative answer but unfortunately not quite right. CBDCs are not designed to be decentralized or permissionless like Bitcoin. In fact, they are issued and backed by central banks, and their main purpose is to be the ultimate tool for control in the digital age. Better luck next time!" + ], + "id": "CBDCs", + "question": "What is the main purpose of central bank digital currencies (CBDCs)", + "text": "Central bank digital currencies (CBDCs) are digital versions of traditional currency that are issued and backed by a central bank.\n\nCBDCs are not decentralized or permissionless like Bitcoin, and are instead intended to compete with other forms of digital payment methods for market dominance.\n\nOne of the main reasons for the development of CBDCs is the surveillance and censorship capabilities they provide the issuer.\n\nAdditionally, in an age of negative real interest rates (when the inflation rate is higher than the interest rate), the widespread adoption of CBDCs often goes hand in hand with the phasing out of physical cash, which can lead to the devaluation of the currency in real terms.\n", + "title": "Central Bank Digital Currencies", + "type": "Text" +} diff --git a/chapter-301-bitcoin-why-was-it-created/301-combined.json b/chapter-301-bitcoin-why-was-it-created/301-combined.json new file mode 100644 index 0000000..e4aa0ba --- /dev/null +++ b/chapter-301-bitcoin-why-was-it-created/301-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "The trust that is required to make it work", + "The color of the physical bills", + "The fact that it requires physical storage" + ], + "feedback": [ + "You got it right! The root problem with conventional currency is the trust that is required to make it work. It's an interesting point, as trust is a fundamental aspect of any currency system", + "Interesting take, but unfortunately not the correct answer. Conventional currency isn't just about the aesthetics of its physical form, although I'm sure some people might argue otherwise", + "Haha, while it might be inconvenient to lug around a wallet full of cash, that's not the root problem with conventional currency. But don't worry, you can try again!" + ], + "id": "rootProblem", + "question": "What is the root problem with conventional currency according to Satoshi Nakamoto", + "text": "So what was the motivation to create Bitcoin? In his announcement of the project, Satoshi Nakamoto gave the following explanation:\n\n\"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.\"\n", + "title": "The Root Problem", + "type": "Text" + }, + { + "answers": [ + "An unknown programmer who used the pseudonym \"Satoshi Nakamoto\"", + "Craig Wright", + "Elon Musk" + ], + "feedback": [ + "Correct! It's an interesting mystery, but it's worth noting that the bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone", + "I'm sorry, but it looks like Craig Wright's claim to being the creator of bitcoin has been thoroughly debunked. Better luck with the next answer", + "Nope! Elon Musk's talents might be better suited to launching rockets and building electric cars rather than creating revolutionary digital currencies. Try again!" + ], + "id": "bitcoinCreator", + "question": "Who is the creator of bitcoin", + "text": "The creator of bitcoin, who used the pseudonym \"Satoshi Nakamoto,\" is unknown and no claims of being the creator have been verified. Satoshi was only involved in the project for a short time before disappearing.\n\nThe bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone.\n", + "title": "Bitcoin's Creator Satoshi Nakamoto", + "type": "Text" + }, + { + "answers": [ + "The need for trusted third parties to make a currency work", + "Lack of a physical form for currency", + "Inflation caused by central authorities issuing more units" + ], + "feedback": [ + "Exactly. Bitcoin requires no trusted third party and allows for transactions to be made directly between individuals, called peer-to-peer, rather than through a central authority or intermediaries", + "Nope. That's not it. Try again", + "Arbitrary inflation of the money supply by centralized issuers is indeed a problem that bitcoin solves elegantly, but there's a more foundational problem that Satoshi addressed. Try again!" + ], + "id": "fiatRequiresTrust", + "question": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin", + "text": "The post-1971 fiat currency system requires trust at all levels because it is debt-based and lacks a scarce anchor. This includes trust in the ability to pay off debts in the future, trust in commercial and central banks not to debase the currency, and trust in their ability to allow access to and freedom to use funds for transactions.\n\nThis trust has been violated numerous times, including during the 2008/09 Global Financial Crisis. In order to address this issue, Satoshi Nakamoto aimed to create a digital form of money that did not require trusting third parties for transactions and could not be debased by a central authority issuing more units.\n", + "title": "Fiat Currencies Require Trust", + "type": "Text" + }, + { + "answers": [ + "Asset bubbles in stock and real estate markets that experience corrections roughly every decade", + "A sudden increase in the popularity of polka music", + "A decrease in the number of people who believe in extraterrestrial life forms" + ], + "feedback": [ + "Bullseye! Asset bubbles in stock and real estate markets are indeed one of the main consequences of excessive money printing and credit expansion. It's worth noting that these bubbles often disproportionately benefit those closest to the source of new money, while lower income individuals are often the most affected by the inflation and economic booms and busts that result", + "That's not the right wavelength here! While some believe easy money has a negative impact on music, this is not the right answer", + "Your guess is out of this world. While it's certainly interesting to speculate about the existence of aliens, it has nothing to do with the consequences of excessive money printing and credit expansion." + ], + "id": "moneyPrinting", + "question": "What is one of the main consequences of excessive money printing and credit expansion", + "text": "Excessive money printing and credit expansion can cause numerous social and economic issues, including asset bubbles in stocks and real estate markets which tend to experience corrections roughly every decade.\n\nWhile those closest to the source of new money often benefit greatly from these cycles, lower income individuals who don't own valuable assets and rely on regular paychecks are often the most affected by inflation and economic booms and busts created by the fiat currency system.\n\nA well-known example of this is the Global Financial Crisis that began in 2008, which was preceded by a significant accumulation of debt and risk in the commercial banking sector.\n", + "title": "Money Printing and Credit Expansion", + "type": "Text" + }, + { + "answers": [ + "To take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system", + "To create a digital form of money that could be easily debased by a central authority", + "To make it easier for third parties to facilitate transactions" + ], + "feedback": [ + "That's exactly right. Take a wild guess what those financial elites think about bitcoin", + "No, silly. We already have that with fiat. Try again and think about Satoshi's message in the Genesis Block before you answer", + "Sorry, that's not quite right. While third parties can be useful for facilitating transactions, trust in these intermediaries was one of the issues that Satoshi Nakamoto aimed to address with the creation of Bitcoin. Maybe try again with a different answer." + ], + "id": "genesisBlock", + "question": "Why did Satoshi Nakamoto create Bitcoin", + "text": "It is clear why Satoshi Nakamoto created Bitcoin when we examine the first block of the Bitcoin blockchain, called the Genesis block.\n\nThis block was created by Satoshi when he launched Bitcoin in 2009 and includes a reference to banks receiving bailouts following the 2008/09 Global Financial Crisis.\n\n\"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks\"\n\nThis crisis, in which trust in traditional financial systems was severely damaged, inspired Satoshi to create a digital form of money that does not require trusting third parties for transactions and cannot be debased by a central authority issuing more units.\n", + "title": "The Genesis Block", + "type": "Text" + }, + { + "answers": [ + "The Cypherpunks are a group of individuals who seek to use cryptography to promote privacy and security in the digital age", + "The Cypherpunks are a group of hackers who aim to steal personal data and sensitive information through the use of cryptography", + "The Cypherpunks are a group of cryptographers who seek to create complex mathematical equations that are difficult to solve" + ], + "feedback": [ + "Well done! It's interesting to note that the Cypherpunks' goal of using cryptography to promote privacy and security is particularly relevant in today's digital age, where increasing surveillance can lead to the erosion of freedoms", + "Sorry, that's not quite right. While the use of cryptography can certainly be beneficial for hackers, the Cypherpunks seek to use cryptography for the opposite purpose. Maybe try again with a different answer", + "Nope. While cryptography does involve the use of complex mathematical equations, the Cypherpunks are not primarily interested in creating these equations for their own sake. Try again!" + ], + "id": "cypherpunks", + "question": "Who are the Cypherpunks and what is their goal", + "text": "Bitcoin is the result of decades of research work by a group of individuals who call themselves Cypherpunks. They are interested in using cryptography to promote privacy and security in a world where increasing surveillance in the digital age can lead to erosion of freedoms.\n\nEarlier digital cash systems that relied on peer-to-peer (P2P) networks had one or both of the following problems:\n\n * They required a central authority to manage the ledger of ownership.\n * The currency units could be copied, resulting in the \"double-spending problem\" where a single unit could be spent multiple times.\n\n Satoshi addressed both of these issues by combining existing technologies in the creation of Bitcoin. The first issue is resolved because the decentralized nature of the Bitcoin network means that there is no central authority that users need to trust. The second issue is addressed because the unique cryptographic techniques used in Bitcoin make it impossible to copy the currency units.\n", + "title": "Bitcoin is the Result of Decades of Research", + "type": "Text" + } + ], + "meta": { + "id": "Bitcoin:Whywasitcreated?", + "title": "Bitcoin: Why was it created?" + } +} diff --git a/chapter-301-bitcoin-why-was-it-created/301-es-combined.json b/chapter-301-bitcoin-why-was-it-created/301-es-combined.json new file mode 100644 index 0000000..6b1a83a --- /dev/null +++ b/chapter-301-bitcoin-why-was-it-created/301-es-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "La confianza que se requiere para que funcione", + "El color de los billetes f\u00edsicos.", + "El hecho de que requiera almacenamiento f\u00edsico." + ], + "feedback": [ + "\u00a1Lo hiciste bien! El problema fundamental de la moneda convencional es la confianza que se requiere para que funcione. Es un punto interesante, ya que la confianza es un aspecto fundamental de cualquier sistema monetario.", + "Interesante respuesta, pero lamentablemente no es la respuesta correcta. La moneda convencional no se trata s\u00f3lo de la est\u00e9tica de su forma f\u00edsica, aunque estoy seguro de que algunas personas podr\u00edan argumentar lo contrario.", + "Jaja, si bien puede resultar inc\u00f3modo cargar con una billetera llena de efectivo, ese no es el problema fundamental de la moneda convencional. Pero no te preocupes, \u00a1puedes volver a intentarlo!" + ], + "id": "ra\u00edzProblema", + "question": "\u00bfCu\u00e1l es la ra\u00edz del problema de la moneda convencional seg\u00fan Satoshi Nakamoto?", + "text": "Entonces, \u00bfcu\u00e1l fue la motivaci\u00f3n para crear Bitcoin? En su anuncio del proyecto, Satoshi Nakamoto dio la siguiente explicaci\u00f3n:\n\n\"El problema fundamental con la moneda convencional es toda la confianza que se requiere para que funcione. Se debe confiar en que el banco central no degradar\u00e1 la moneda, pero la historia de las monedas fiduciarias est\u00e1 llena de violaciones de esa confianza. Se debe confiar en los bancos para mantener nuestro dinero y lo transfieren electr\u00f3nicamente, pero lo prestan en oleadas de burbujas crediticias con apenas una fracci\u00f3n en reserva\".\n", + "title": "El problema de ra\u00edz", + "type": "Texto" + }, + { + "answers": [ + "Un programador desconocido que utiliz\u00f3 el seud\u00f3nimo \"Satoshi Nakamoto\"", + "Craig Wright", + "Elon Musk" + ], + "feedback": [ + "\u00a1Correcto! Es un misterio interesante, pero vale la pena se\u00f1alar que el protocolo bitcoin se basa en c\u00f3digo fuente abierto, lo que significa que cualquiera puede revisarlo. Esta transparencia lo convierte en el c\u00f3digo m\u00e1s revisado que existe. A pesar del misterio de su creador, bitcoin en s\u00ed es una red monetaria abierta y transparente que puede ser examinada y utilizada por cualquiera.", + "Lo siento, pero parece que la afirmaci\u00f3n de Craig Wright de ser el creador de bitcoin ha sido completamente desacreditada. M\u00e1s suerte con la siguiente respuesta.", + "\u00a1No! Los talentos de Elon Musk podr\u00edan ser m\u00e1s adecuados para lanzar cohetes y construir autom\u00f3viles el\u00e9ctricos que para crear monedas digitales revolucionarias. \u00a1Intentar otra vez!" + ], + "id": "bitcoinCreador", + "question": "\u00bfQui\u00e9n es el creador de bitcoin?", + "text": "Se desconoce el creador de bitcoin, que utiliz\u00f3 el seud\u00f3nimo \"Satoshi Nakamoto\", y no se ha verificado ninguna afirmaci\u00f3n de ser el creador. Satoshi s\u00f3lo estuvo involucrado en el proyecto por un corto tiempo antes de desaparecer.\n\nEl protocolo bitcoin se basa en c\u00f3digo fuente abierto, lo que significa que cualquiera puede revisarlo. Esta transparencia lo convierte en el c\u00f3digo m\u00e1s revisado que existe. A pesar del misterio de su creador, el bitcoin en s\u00ed es una red monetaria abierta y transparente que cualquiera puede examinar y utilizar.\n", + "title": "El creador de Bitcoin, Satoshi Nakamoto", + "type": "Texto" + }, + { + "answers": [ + "La necesidad de que terceros de confianza hagan funcionar una moneda", + "Falta de forma f\u00edsica para la moneda.", + "Inflaci\u00f3n causada por autoridades centrales que emiten m\u00e1s unidades" + ], + "feedback": [ + "Exactamente. Bitcoin no requiere de un tercero de confianza y permite que las transacciones se realicen directamente entre individuos, lo que se denomina peer-to-peer, en lugar de a trav\u00e9s de una autoridad central o intermediarios.", + "No. Eso no es todo. Intentar otra vez", + "La inflaci\u00f3n arbitraria de la oferta monetaria por parte de emisores centralizados es de hecho un problema que bitcoin resuelve elegantemente, pero hay un problema m\u00e1s fundamental que abord\u00f3 Satoshi. \u00a1Intentar otra vez!" + ], + "id": "fiatRequiereConfianza", + "question": "\u00bfCu\u00e1l fue el principal problema que Satoshi Nakamoto pretend\u00eda abordar con la creaci\u00f3n de bitcoin?", + "text": "El sistema de moneda fiduciaria posterior a 1971 requiere confianza en todos los niveles porque est\u00e1 basado en la deuda y carece de un ancla escasa. Esto incluye confianza en la capacidad de pagar deudas en el futuro, confianza en los bancos comerciales y centrales para no devaluar la moneda y confianza en su capacidad para permitir el acceso y la libertad de utilizar fondos para transacciones.\n\nEsta confianza ha sido violada en numerosas ocasiones, incluso durante la crisis financiera mundial de 2008\/09. Para abordar este problema, Satoshi Nakamoto se propuso crear una forma digital de dinero que no requiriera confiar en terceros para las transacciones y que no pudiera ser degradada por una autoridad central que emitiera m\u00e1s unidades.\n", + "title": "Las monedas fiduciarias requieren confianza", + "type": "Texto" + }, + { + "answers": [ + "Burbujas de activos en los mercados burs\u00e1til y inmobiliario que experimentan correcciones aproximadamente cada d\u00e9cada", + "Un aumento repentino en la popularidad de la m\u00fasica polka.", + "Disminuci\u00f3n del n\u00famero de personas que creen en formas de vida extraterrestres" + ], + "feedback": [ + "\u00a1Diana! Las burbujas de activos en los mercados burs\u00e1til y inmobiliario son de hecho una de las principales consecuencias de la excesiva impresi\u00f3n de dinero y la expansi\u00f3n del cr\u00e9dito. Vale la pena se\u00f1alar que estas burbujas a menudo benefician desproporcionadamente a quienes est\u00e1n m\u00e1s cerca de la fuente de dinero nuevo, mientras que las personas con ingresos m\u00e1s bajos suelen ser las m\u00e1s afectadas por la inflaci\u00f3n y los auges y ca\u00eddas econ\u00f3micas resultantes.", + "\u00a1Esa no es la longitud de onda correcta aqu\u00ed! Aunque algunos creen que el dinero f\u00e1cil tiene un impacto negativo en la m\u00fasica, \u00e9sta no es la respuesta correcta.", + "Tu suposici\u00f3n est\u00e1 fuera de este mundo. Si bien es ciertamente interesante especular sobre la existencia de extraterrestres, no tiene nada que ver con las consecuencias de la excesiva impresi\u00f3n de dinero y la expansi\u00f3n del cr\u00e9dito." + ], + "id": "dineroImpresi\u00f3n", + "question": "\u00bfCu\u00e1l es una de las principales consecuencias de la excesiva impresi\u00f3n de dinero y la expansi\u00f3n del cr\u00e9dito?", + "text": "La impresi\u00f3n excesiva de dinero y la expansi\u00f3n del cr\u00e9dito pueden causar numerosos problemas sociales y econ\u00f3micos, incluidas burbujas de activos en los mercados burs\u00e1tiles y inmobiliarios que tienden a experimentar correcciones aproximadamente cada d\u00e9cada.\n\nSi bien aquellos m\u00e1s cercanos a la fuente de dinero nuevo a menudo se benefician enormemente de estos ciclos, las personas de bajos ingresos que no poseen activos valiosos y dependen de cheques de pago regulares son a menudo los m\u00e1s afectados por la inflaci\u00f3n y los auges y ca\u00eddas econ\u00f3micas creados por el sistema de moneda fiduciaria.\n\nUn ejemplo bien conocido de esto es la crisis financiera global que comenz\u00f3 en 2008, que fue precedida por una importante acumulaci\u00f3n de deuda y riesgo en el sector bancario comercial.\n", + "title": "Impresi\u00f3n de dinero y expansi\u00f3n del cr\u00e9dito", + "type": "Texto" + }, + { + "answers": [ + "Recuperar el control financiero de las \u00e9lites financieras, dando a la gente com\u00fan y corriente la oportunidad de participar en un sistema financiero descentralizado.", + "Crear una forma digital de dinero que una autoridad central pueda degradar f\u00e1cilmente", + "Para facilitar a terceros la facilitaci\u00f3n de transacciones" + ], + "feedback": [ + "Eso es exactamente correcto. Adivine qu\u00e9 piensan esas \u00e9lites financieras sobre bitcoin", + "No tonto. Eso ya lo tenemos con fiat. Int\u00e9ntalo de nuevo y piensa en el mensaje de Satoshi en el Bloque G\u00e9nesis antes de responder.", + "Lo siento, eso no est\u00e1 del todo bien. Si bien los terceros pueden ser \u00fatiles para facilitar las transacciones, la confianza en estos intermediarios fue uno de los problemas que Satoshi Nakamoto pretend\u00eda abordar con la creaci\u00f3n de Bitcoin. Quiz\u00e1s vuelva a intentarlo con una respuesta diferente." + ], + "id": "g\u00e9nesisBloque", + "question": "\u00bfPor qu\u00e9 Satoshi Nakamoto cre\u00f3 Bitcoin?", + "text": "Queda claro por qu\u00e9 Satoshi Nakamoto cre\u00f3 Bitcoin cuando examinamos el primer bloque de la cadena de bloques de Bitcoin, llamado bloque G\u00e9nesis.\n\nEste bloque fue creado por Satoshi cuando lanz\u00f3 Bitcoin en 2009 e incluye una referencia a los bancos que recibieron rescates tras la crisis financiera mundial de 2008\/09.\n\n\"The Times 03\/Ene\/2009 Canciller al borde de un segundo rescate para bancos\"\n\nEsta crisis, en la que la confianza en los sistemas financieros tradicionales qued\u00f3 gravemente da\u00f1ada, inspir\u00f3 a Satoshi a crear una forma digital de dinero que no requiere confiar en terceros para las transacciones y que no puede ser degradada por una autoridad central que emita m\u00e1s unidades.\n", + "title": "El bloque G\u00e9nesis", + "type": "Texto" + }, + { + "answers": [ + "Los Cypherpunks son un grupo de individuos que buscan utilizar la criptograf\u00eda para promover la privacidad y la seguridad en la era digital.", + "Los Cypherpunks son un grupo de hackers que tienen como objetivo robar datos personales e informaci\u00f3n sensible mediante el uso de criptograf\u00eda.", + "Los Cypherpunks son un grupo de cript\u00f3grafos que buscan crear ecuaciones matem\u00e1ticas complejas y dif\u00edciles de resolver." + ], + "feedback": [ + "\u00a1Bien hecho! Es interesante observar que el objetivo de los Cypherpunks de utilizar la criptograf\u00eda para promover la privacidad y la seguridad es particularmente relevante en la era digital actual, donde una mayor vigilancia puede conducir a la erosi\u00f3n de las libertades.", + "Lo siento, eso no est\u00e1 del todo bien. Si bien el uso de la criptograf\u00eda ciertamente puede ser beneficioso para los piratas inform\u00e1ticos, los Cypherpunks buscan utilizar la criptograf\u00eda para el prop\u00f3sito opuesto. Quiz\u00e1s vuelva a intentarlo con una respuesta diferente.", + "No. Si bien la criptograf\u00eda implica el uso de ecuaciones matem\u00e1ticas complejas, los Cypherpunks no est\u00e1n interesados principalmente en crear estas ecuaciones por s\u00ed mismas. \u00a1Intentar otra vez!" + ], + "id": "cypherpunks", + "question": "\u00bfQui\u00e9nes son los Cypherpunks y cu\u00e1l es su objetivo?", + "text": "Bitcoin es el resultado de d\u00e9cadas de trabajo de investigaci\u00f3n realizado por un grupo de personas que se autodenominan Cypherpunks. Est\u00e1n interesados en utilizar la criptograf\u00eda para promover la privacidad y la seguridad en un mundo donde la creciente vigilancia en la era digital puede conducir a la erosi\u00f3n de las libertades.\n\nLos anteriores sistemas de efectivo digital que depend\u00edan de redes peer-to-peer (P2P) ten\u00edan uno o ambos de los siguientes problemas:\n\n * Requer\u00edan una autoridad central para gestionar el libro de propiedad.\n * Las unidades monetarias podr\u00edan copiarse, lo que dar\u00eda lugar al \"problema de doble gasto\", en el que una sola unidad podr\u00eda gastarse varias veces.\n\n Satoshi abord\u00f3 ambas cuestiones combinando tecnolog\u00edas existentes en la creaci\u00f3n de Bitcoin. El primer problema se resuelve porque la naturaleza descentralizada de la red Bitcoin significa que no existe una autoridad central en la que los usuarios deban confiar. La segunda cuesti\u00f3n se aborda porque las t\u00e9cnicas criptogr\u00e1ficas \u00fanicas utilizadas en Bitcoin hacen imposible copiar las unidades monetarias.\n", + "title": "Bitcoin es el resultado de d\u00e9cadas de investigaci\u00f3n", + "type": "Texto" + } + ], + "meta": { + "id": "Bitcoin: \u00bfPor qu\u00e9 se cre\u00f3?", + "title": "Bitcoin: \u00bfPor qu\u00e9 se cre\u00f3?" + } +} \ No newline at end of file diff --git a/chapter-301-bitcoin-why-was-it-created/301.01-lesson-root-problem.json b/chapter-301-bitcoin-why-was-it-created/301.01-lesson-root-problem.json new file mode 100644 index 0000000..e12372c --- /dev/null +++ b/chapter-301-bitcoin-why-was-it-created/301.01-lesson-root-problem.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The trust that is required to make it work", + "The color of the physical bills", + "The fact that it requires physical storage" + ], + "feedback": [ + "You got it right! The root problem with conventional currency is the trust that is required to make it work. It's an interesting point, as trust is a fundamental aspect of any currency system", + "Interesting take, but unfortunately not the correct answer. Conventional currency isn't just about the aesthetics of its physical form, although I'm sure some people might argue otherwise", + "Haha, while it might be inconvenient to lug around a wallet full of cash, that's not the root problem with conventional currency. But don't worry, you can try again!" + ], + "id": "rootProblem", + "question": "What is the root problem with conventional currency according to Satoshi Nakamoto", + "text": "So what was the motivation to create Bitcoin? In his announcement of the project, Satoshi Nakamoto gave the following explanation:\n\n\"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.\"\n", + "title": "The Root Problem", + "type": "Text" +} diff --git a/chapter-301-bitcoin-why-was-it-created/301.02-lesson-bitcoin-creator.json b/chapter-301-bitcoin-why-was-it-created/301.02-lesson-bitcoin-creator.json new file mode 100644 index 0000000..2da7933 --- /dev/null +++ b/chapter-301-bitcoin-why-was-it-created/301.02-lesson-bitcoin-creator.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "An unknown programmer who used the pseudonym \"Satoshi Nakamoto\"", + "Craig Wright", + "Elon Musk" + ], + "feedback": [ + "Correct! It's an interesting mystery, but it's worth noting that the bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone", + "I'm sorry, but it looks like Craig Wright's claim to being the creator of bitcoin has been thoroughly debunked. Better luck with the next answer", + "Nope! Elon Musk's talents might be better suited to launching rockets and building electric cars rather than creating revolutionary digital currencies. Try again!" + ], + "id": "bitcoinCreator", + "question": "Who is the creator of bitcoin", + "text": "The creator of bitcoin, who used the pseudonym \"Satoshi Nakamoto,\" is unknown and no claims of being the creator have been verified. Satoshi was only involved in the project for a short time before disappearing.\n\nThe bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone.\n", + "title": "Bitcoin's Creator Satoshi Nakamoto", + "type": "Text" +} diff --git a/chapter-301-bitcoin-why-was-it-created/301.03-lesson-fiat-requires-trust.json b/chapter-301-bitcoin-why-was-it-created/301.03-lesson-fiat-requires-trust.json new file mode 100644 index 0000000..05d6040 --- /dev/null +++ b/chapter-301-bitcoin-why-was-it-created/301.03-lesson-fiat-requires-trust.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The need for trusted third parties to make a currency work", + "Lack of a physical form for currency", + "Inflation caused by central authorities issuing more units" + ], + "feedback": [ + "Exactly. Bitcoin requires no trusted third party and allows for transactions to be made directly between individuals, called peer-to-peer, rather than through a central authority or intermediaries", + "Nope. That's not it. Try again", + "Arbitrary inflation of the money supply by centralized issuers is indeed a problem that bitcoin solves elegantly, but there's a more foundational problem that Satoshi addressed. Try again!" + ], + "id": "fiatRequiresTrust", + "question": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin", + "text": "The post-1971 fiat currency system requires trust at all levels because it is debt-based and lacks a scarce anchor. This includes trust in the ability to pay off debts in the future, trust in commercial and central banks not to debase the currency, and trust in their ability to allow access to and freedom to use funds for transactions.\n\nThis trust has been violated numerous times, including during the 2008/09 Global Financial Crisis. In order to address this issue, Satoshi Nakamoto aimed to create a digital form of money that did not require trusting third parties for transactions and could not be debased by a central authority issuing more units.\n", + "title": "Fiat Currencies Require Trust", + "type": "Text" +} diff --git a/chapter-301-bitcoin-why-was-it-created/301.04-lesson-money-printing.json b/chapter-301-bitcoin-why-was-it-created/301.04-lesson-money-printing.json new file mode 100644 index 0000000..c45119e --- /dev/null +++ b/chapter-301-bitcoin-why-was-it-created/301.04-lesson-money-printing.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Asset bubbles in stock and real estate markets that experience corrections roughly every decade", + "A sudden increase in the popularity of polka music", + "A decrease in the number of people who believe in extraterrestrial life forms" + ], + "feedback": [ + "Bullseye! Asset bubbles in stock and real estate markets are indeed one of the main consequences of excessive money printing and credit expansion. It's worth noting that these bubbles often disproportionately benefit those closest to the source of new money, while lower income individuals are often the most affected by the inflation and economic booms and busts that result", + "That's not the right wavelength here! While some believe easy money has a negative impact on music, this is not the right answer", + "Your guess is out of this world. While it's certainly interesting to speculate about the existence of aliens, it has nothing to do with the consequences of excessive money printing and credit expansion." + ], + "id": "moneyPrinting", + "question": "What is one of the main consequences of excessive money printing and credit expansion", + "text": "Excessive money printing and credit expansion can cause numerous social and economic issues, including asset bubbles in stocks and real estate markets which tend to experience corrections roughly every decade.\n\nWhile those closest to the source of new money often benefit greatly from these cycles, lower income individuals who don't own valuable assets and rely on regular paychecks are often the most affected by inflation and economic booms and busts created by the fiat currency system.\n\nA well-known example of this is the Global Financial Crisis that began in 2008, which was preceded by a significant accumulation of debt and risk in the commercial banking sector.\n", + "title": "Money Printing and Credit Expansion", + "type": "Text" +} diff --git a/chapter-301-bitcoin-why-was-it-created/301.05-lesson-genesis-block.json b/chapter-301-bitcoin-why-was-it-created/301.05-lesson-genesis-block.json new file mode 100644 index 0000000..dfe92b4 --- /dev/null +++ b/chapter-301-bitcoin-why-was-it-created/301.05-lesson-genesis-block.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system", + "To create a digital form of money that could be easily debased by a central authority", + "To make it easier for third parties to facilitate transactions" + ], + "feedback": [ + "That's exactly right. Take a wild guess what those financial elites think about bitcoin", + "No, silly. We already have that with fiat. Try again and think about Satoshi's message in the Genesis Block before you answer", + "Sorry, that's not quite right. While third parties can be useful for facilitating transactions, trust in these intermediaries was one of the issues that Satoshi Nakamoto aimed to address with the creation of Bitcoin. Maybe try again with a different answer." + ], + "id": "genesisBlock", + "question": "Why did Satoshi Nakamoto create Bitcoin", + "text": "It is clear why Satoshi Nakamoto created Bitcoin when we examine the first block of the Bitcoin blockchain, called the Genesis block.\n\nThis block was created by Satoshi when he launched Bitcoin in 2009 and includes a reference to banks receiving bailouts following the 2008/09 Global Financial Crisis.\n\n\"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks\"\n\nThis crisis, in which trust in traditional financial systems was severely damaged, inspired Satoshi to create a digital form of money that does not require trusting third parties for transactions and cannot be debased by a central authority issuing more units.\n", + "title": "The Genesis Block", + "type": "Text" +} diff --git a/chapter-301-bitcoin-why-was-it-created/301.06-lesson-cypher-punks.json b/chapter-301-bitcoin-why-was-it-created/301.06-lesson-cypher-punks.json new file mode 100644 index 0000000..1085330 --- /dev/null +++ b/chapter-301-bitcoin-why-was-it-created/301.06-lesson-cypher-punks.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The Cypherpunks are a group of individuals who seek to use cryptography to promote privacy and security in the digital age", + "The Cypherpunks are a group of hackers who aim to steal personal data and sensitive information through the use of cryptography", + "The Cypherpunks are a group of cryptographers who seek to create complex mathematical equations that are difficult to solve" + ], + "feedback": [ + "Well done! It's interesting to note that the Cypherpunks' goal of using cryptography to promote privacy and security is particularly relevant in today's digital age, where increasing surveillance can lead to the erosion of freedoms", + "Sorry, that's not quite right. While the use of cryptography can certainly be beneficial for hackers, the Cypherpunks seek to use cryptography for the opposite purpose. Maybe try again with a different answer", + "Nope. While cryptography does involve the use of complex mathematical equations, the Cypherpunks are not primarily interested in creating these equations for their own sake. Try again!" + ], + "id": "cypherpunks", + "question": "Who are the Cypherpunks and what is their goal", + "text": "Bitcoin is the result of decades of research work by a group of individuals who call themselves Cypherpunks. They are interested in using cryptography to promote privacy and security in a world where increasing surveillance in the digital age can lead to erosion of freedoms.\n\nEarlier digital cash systems that relied on peer-to-peer (P2P) networks had one or both of the following problems:\n\n * They required a central authority to manage the ledger of ownership.\n * The currency units could be copied, resulting in the \"double-spending problem\" where a single unit could be spent multiple times.\n\n Satoshi addressed both of these issues by combining existing technologies in the creation of Bitcoin. The first issue is resolved because the decentralized nature of the Bitcoin network means that there is no central authority that users need to trust. The second issue is addressed because the unique cryptographic techniques used in Bitcoin make it impossible to copy the currency units.\n", + "title": "Bitcoin is the Result of Decades of Research", + "type": "Text" +} diff --git a/chapter-302-bitcoin-how-does-it-work/302-combined.json b/chapter-302-bitcoin-how-does-it-work/302-combined.json new file mode 100644 index 0000000..20eba95 --- /dev/null +++ b/chapter-302-bitcoin-how-does-it-work/302-combined.json @@ -0,0 +1,144 @@ +{ + "content": [ + { + "answers": [ + "The blockchain", + "The internet", + "A decentralized network of nodes" + ], + "feedback": [ + "Correct! Satoshi was the first to successfully implement the blockchain - a concept first described in 1991 by Stuart Haber and W. Scott Stornetta. It's a decentralized form of bookkeeping that is resistant to tampering and allows users to make and verify transactions without the need for a central authority", + "No. The internet is a global network of interconnected computers, but it was not invented by Satoshi and does not solve issues of centralization and double spends. Try again", + "A decentralized network of nodes is an important part of Bitcoin, but it does not solve issues of centralization and double spends by itself. Try again!" + ], + "id": "peer2Peer", + "question": "Which technology did Satoshi implement to solve issues of centralization and double spends", + "text": "To solve the earlier mentioned issues of centralization and possible double spends, Satoshi invented a solution based on a decentralized network of nodes.\n\nNodes are computers that are in constant contact with each other. This by itself is nothing new. The internet itself has a similar infrastructure of interconnected nodes.\n\nAll bitcoin nodes, however, store a copy of the ledger of all transactions in the history of the Bitcoin network.\n\nThis new, decentralized form of bookkeeping, called blockchain, was first successfully implemented in Bitcoin and is extremely resistant to tampering.\n", + "title": "Peer-to-Peer Network", + "type": "Text" + }, + { + "answers": [ + "To create a tamper-evident record of all transactions on the blockchain", + "To ensure that blocks can be altered or replaced easily", + "To make sure that the Artificial Intelligence that created Bitcoin has enough computation power to take over the world" + ], + "feedback": [ + "Correct! The cryptographic hash function helps to create a tamper-evident record of all transactions on the blockchain, which can be used to verify the integrity of the data stored on the chain. Did you know that the cryptographic hash function is also an essential part of the proof-of-work mechanism that helps to secure the Bitcoin network", + "That's a hilarious idea, but no, the cryptographic hash function actually ensures the opposite. Try again", + "Ha! I'm not sure who told you that the Bitcoin blockchain was created by AI, but I think they might have been pulling your leg. Try again!" + ], + "id": "blockchain", + "question": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain", + "text": "The Bitcoin blockchain is a distributed database that maintains a continuously growing list of Bitcoin transactions called blocks.\n\nBlocks are anchored to each other through the use of cryptographic hashes. Each block contains a cryptographic hash of the previous block, as well as a timestamp and transaction data. This creates a chain of blocks that are all linked together, with each block building on the one before it.\n\nThe cryptographic hash function ensures that once a block has been added to the chain, it cannot be altered or replaced without also changing all of the subsequent blocks in the chain.\n\nThis creates a tamper-evident record of all transactions that have occurred on the blockchain, which can be used to verify the integrity of the data stored on the chain.\n", + "title": "What is a blockchain exactly?", + "type": "Text" + }, + { + "answers": [ + "To sign transactions and prove ownership of Bitcoins", + "To verify the ownership of a Bitcoin address", + "To make a stranger fall in love by posting it on social media" + ], + "feedback": [ + "Correct! The private key is used to sign transactions and prove ownership of Bitcoins. It's an essential part of the process of sending and receiving Bitcoin payments, and it's important to keep it secret and secure. Good job", + "Almost. **** While the private key can be used to verify the ownership of a Bitcoin address, that's not its primary purpose", + "Posting it on social media would be like posting your bank account login information online - it's a surefire way to get your Bitcoins stolen. Better stick to more traditional methods of winning someone's heart!" + ], + "id": "privateKey", + "question": "What is the purpose of the private key in a Bitcoin transaction", + "text": "Another cornerstone of Bitcoin is Public Key Cryptography that uses a pair of keys - a public key and a private key - to sign transactions and verify the ownership of Bitcoin addresses.\n\nThe private key is a long string of characters that is used to authorize Bitcoin transactions. It is often represented as a combination of 12 words (sometimes 24). Only in the correct order do the words result in the corresponding private key.\n\nWhoever knows the private key of a bitcoin address can control the bitcoin in that address. Therefore it is important that it is kept secret and never shared with anyone. Ideally, it should be stored offline, so that no unwanted program can access it. \n", + "title": "Public Key Cryptography", + "type": "Text" + }, + { + "answers": [ + "To generate an unlimited number of Bitcoin addresses from a single key", + "To authorize Bitcoin transactions", + "To verify that the supply of all bitcoin in existence does not exceed 21 million" + ], + "feedback": [ + "Correct! It's worth noting that, while funds can only be moved with the private key, it might be a good idea to not share the master public key on a public forum to preserve financial privacy. Only share Bitcoin addresses with payers to receive payments", + "No, the master public key is not used to authorize Bitcoin transactions. That's the job of the private key. Try again", + "No. While every user can independently verify the monetary supply of in the bitcoin network with a bitcoin node, this is not what the master public key is used for. Try again." + ], + "id": "publicKey", + "question": "What is the purpose of a master public key in Bitcoin", + "text": "A master public key in Bitcoin is a key that is cryptographically derived from a Bitcoin private key and is used to generate Bitcoin addresses that payers can send Bitcoin to.\n\nIt can be used to generate an unlimited number of Bitcoin addresses from a single master public key.\n\nWhile the private key is used to authorize Bitcoin transactions and therefore needs to be kept private, the Bitcoin addresses derived from the public key can be shared with a payer to receive payments from them.\n\nMaster public keys consist of a long sequence of numbers and letters and begin with xpub, ypub or zpub.\n\nA Bitcoin address for receiving payments starts with either 1, 3 or bc1.\n", + "title": "Bitcoin Addresses and the Master Public Key", + "type": "Text" + }, + { + "answers": [ + "To add transactions to the blockchain and secure the network", + "To make a lot of money", + "To amass giant amounts of computation power for AI to take over the world" + ], + "feedback": [ + "Correct! Miners perform work in the form of computations and compete with other miners for who can add the next block of transactions to the blockchain and earn the block reward", + "That's not the main purpose of mining. **** While it's true that miners do receive a reward in bitcoin for their efforts, they also have to pay for the electricity they use to perform computations. Try again", + "Wow, that's an ambitious goal! While it's true that mining requires a significant amount of computational power, I'm pretty sure the main purpose is not to create an army of AI overlords. Better luck next time!" + ], + "id": "mining", + "question": "What is the main purpose of mining in the bitcoin network", + "text": "When a user wants to send a transaction in the bitcoin network, they need to sign the transaction with their private key to prove that they are the owner of the funds being transferred. Once the transaction is signed, it is broadcasted to the peer-to-peer network.\n\nMining is the process of adding transactions to the bitcoin blockchain. When a transaction is broadcasted to the network, it is picked up by miners, who verify that the transaction is valid (i.e., the user has the necessary funds and the private key used to sign the transaction corresponds to the public key associated with the funds).\n\nOnce a transaction has been verified, it is added to a block of transactions, along with a mathematical puzzle. Miners compete to solve the puzzle, and the first one to solve it gets to add the block to the blockchain and claim a reward in bitcoin. The reward is currently 6.25 bitcoins, plus any transaction fees that were included in the block.\n\nIn addition to adding transactions to the blockchain, mining also serves to secure the bitcoin network. This is because solving the puzzle requires a significant amount of computational power, and adding a block to the blockchain requires other miners to verify the solution. This makes it very difficult for any one person or group to manipulate the blockchain.\n", + "title": "Mining", + "type": "Text" + }, + { + "answers": [ + "Through proof of work, which involves miners competing to solve a mathematical puzzle", + "By holding a lottery among all those that have bitcoins in a wallet", + "Through a process of majority voting" + ], + "feedback": [ + "Correct! Congrats on understanding how the bitcoin network creates a source of truth that cannot be manipulated by wealthy elites or insiders", + "No, this would be proof of stake, which is a different consensus mechanism that involves choosing the next block producer proportional to their stake (how many coins they hold) in the network. Try again", + "Wrong, but it's an interesting idea. The bitcoin network does not use a process of majority voting to create a source of truth. Try again!" + ], + "id": "proofOfWork", + "question": "How does the Bitcoin network create a source of truth despite having no central authority", + "text": "Decentralized systems, by definition, do not have a single source of truth.\n\nSatoshi's breakthrough was to build a system that allows all participants to zero in on the same truth independently. Proof of work is what allows this to happen. The point of proof of work is to create an irrefutable history. If two histories compete, the one with the most work embedded in it wins.\n\nThe chain with the most work is the truth, by definition. This is called Nakamoto consensus. This works because work requires energy. In Bitcoin, work is computation. Not any kind of computation, but computation that has no shortcut: guessing.\n\n In the absence of a central authority, proof of work is necessary because it ensures that there is no shortcut to adding transactions to the blockchain.\n\n Miners must compete to solve the puzzle through brute force computation, which is probabilistic in nature, and the proof that the work has been done becomes self-evident in the outcome of the work. This makes it very difficult for any one person or group to manipulate the transaction history.\n", + "title": "Proof of Work", + "type": "Text" + }, + { + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "id": "difficultyAdjustment", + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "A crucial element of the Bitcoin protocol is the Difficulty Adjustment. This algorithm ensures that new blocks are found every 10 minutes on average.\n\nWhen more miners join the network, the average time required to find a new block goes down. In the opposite case, when miners leave the network, it takes longer to add a new block. The Difficulty Adjustment algorithm adjusts the difficulty of the mathematical puzzle to match changes in the combined computing power of all miners. This prevents the creation of more (or less) bitcoin units than the predetermined supply schedule.\n\nThis is in stark contrast to physical mining of precious metals like gold where adding more gold miners leads to a higher supply of gold and therefore a decrease in its price. In Bitcoin however, the addition of new miners only adds more security to the network.\n", + "title": "Difficulty Adjustment", + "type": "Text" + }, + { + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "id": "halving", + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "One final element that is important to understand, is that the block reward in the bitcoin network is reduced by half every four years, or every 210,000 blocks.\n\nThis event, known as the \"halving\", is programmed into the bitcoin software that all users run. When bitcoin was first launched, miners received 50 new bitcoins for each block they added to the blockchain. Currently, the block reward is 6.25 bitcoins, but it will be reduced to 3.125 bitcoins in 2024 when the next halving occurs.\n\nThese halvings will continue to take place until the year 2140, at which point the total number of bitcoins that will have been mined will be capped at 21 million. As of 2023, around 92% of all bitcoins (\\~19.3 million) have already been mined.\n\nUnlike fiat currencies, which can be inflationary, bitcoin is disinflationary in nature. This makes it more scarce than fiat and precious metals such as gold and silver, or anything else known in the universe.\n", + "title": "The Halving", + "type": "Text" + } + ], + "meta": { + "id": "Bitcoin:Howdoesitwork?", + "title": "Bitcoin: How does it work?" + } +} diff --git a/chapter-302-bitcoin-how-does-it-work/302-es-combined.json b/chapter-302-bitcoin-how-does-it-work/302-es-combined.json new file mode 100644 index 0000000..81df319 --- /dev/null +++ b/chapter-302-bitcoin-how-does-it-work/302-es-combined.json @@ -0,0 +1,144 @@ +{ + "content": [ + { + "answers": [ + "La cadena de bloques", + "La Internet", + "Una red descentralizada de nodos" + ], + "feedback": [ + "\u00a1Correcto! Satoshi fue el primero en implementar con \u00e9xito blockchain, un concepto descrito por primera vez en 1991 por Stuart Haber y W. Scott Stornetta. Es una forma descentralizada de contabilidad que es resistente a la manipulaci\u00f3n y permite a los usuarios realizar y verificar transacciones sin la necesidad de una autoridad central.", + "No. Internet es una red global de computadoras interconectadas, pero no fue inventada por Satoshi y no resuelve problemas de centralizaci\u00f3n y doble gasto. Intentar otra vez", + "Una red descentralizada de nodos es una parte importante de Bitcoin, pero no resuelve los problemas de centralizaci\u00f3n y doble gasto por s\u00ed sola. \u00a1Intentar otra vez!" + ], + "id": "par2Peer", + "question": "\u00bfQu\u00e9 tecnolog\u00eda implement\u00f3 Satoshi para resolver problemas de centralizaci\u00f3n y doble gasto?", + "text": "Para resolver los problemas de centralizaci\u00f3n y posibles gastos dobles mencionados anteriormente, Satoshi invent\u00f3 una soluci\u00f3n basada en una red descentralizada de nodos.\n\nLos nodos son computadoras que est\u00e1n en constante contacto entre s\u00ed. Esto por s\u00ed solo no es nada nuevo. La propia Internet tiene una infraestructura similar de nodos interconectados.\n\nTodos los nodos bitcoin, sin embargo, almacenan una copia del libro mayor de todas las transacciones en la historia de la red Bitcoin.\n\nEsta nueva forma descentralizada de contabilidad, llamada blockchain, se implement\u00f3 con \u00e9xito por primera vez en Bitcoin y es extremadamente resistente a la manipulaci\u00f3n.\n", + "title": "Red de igual a igual", + "type": "Texto" + }, + { + "answers": [ + "Para crear un registro a prueba de manipulaciones de todas las transacciones en la cadena de bloques", + "Para garantizar que los bloques se puedan modificar o reemplazar f\u00e1cilmente", + "Para asegurarse de que la Inteligencia Artificial que cre\u00f3 Bitcoin tenga suficiente poder de c\u00e1lculo para dominar el mundo." + ], + "feedback": [ + "\u00a1Correcto! La funci\u00f3n hash criptogr\u00e1fica ayuda a crear un registro a prueba de manipulaciones de todas las transacciones en la cadena de bloques, que puede usarse para verificar la integridad de los datos almacenados en la cadena. \u00bfSab\u00edas que la funci\u00f3n hash criptogr\u00e1fica tambi\u00e9n es una parte esencial del mecanismo de prueba de trabajo que ayuda a proteger la red Bitcoin?", + "Es una idea divertida, pero no, la funci\u00f3n hash criptogr\u00e1fica en realidad garantiza lo contrario. Intentar otra vez", + "\u00a1Ja! No estoy seguro de qui\u00e9n te dijo que la cadena de bloques de Bitcoin fue creada por IA, pero creo que podr\u00edan haberte estado tomando el pelo. \u00a1Intentar otra vez!" + ], + "id": "cadena de bloques", + "question": "\u00bfCu\u00e1l es el prop\u00f3sito de la funci\u00f3n hash criptogr\u00e1fica en la cadena de bloques de Bitcoin?", + "text": "La cadena de bloques de Bitcoin es una base de datos distribuida que mantiene una lista en continuo crecimiento de transacciones de Bitcoin llamadas bloques.\n\nLos bloques est\u00e1n anclados entre s\u00ed mediante el uso de hashes criptogr\u00e1ficos. Cada bloque contiene un hash criptogr\u00e1fico del bloque anterior, as\u00ed como una marca de tiempo y datos de transacci\u00f3n. Esto crea una cadena de bloques que est\u00e1n todos unidos entre s\u00ed, y cada bloque se basa en el anterior.\n\nLa funci\u00f3n hash criptogr\u00e1fica garantiza que una vez que se ha agregado un bloque a la cadena, no se puede modificar ni reemplazar sin cambiar tambi\u00e9n todos los bloques posteriores de la cadena.\n\nEsto crea un registro a prueba de manipulaciones de todas las transacciones que se han producido en la cadena de bloques, que se puede utilizar para verificar la integridad de los datos almacenados en la cadena.\n", + "title": "\u00bfQu\u00e9 es exactamente una cadena de bloques?", + "type": "Texto" + }, + { + "answers": [ + "Para firmar transacciones y demostrar la propiedad de Bitcoins", + "Para verificar la propiedad de una direcci\u00f3n Bitcoin", + "Enamorar a un desconocido public\u00e1ndolo en las redes sociales" + ], + "feedback": [ + "\u00a1Correcto! La clave privada se utiliza para firmar transacciones y demostrar la propiedad de Bitcoins. Es una parte esencial del proceso de env\u00edo y recepci\u00f3n de pagos de Bitcoin, y es importante mantenerlo en secreto y seguro. Buen trabajo", + "Casi. **** Si bien la clave privada se puede utilizar para verificar la propiedad de una direcci\u00f3n Bitcoin, ese no es su prop\u00f3sito principal.", + "Publicarlo en las redes sociales ser\u00eda como publicar en l\u00ednea la informaci\u00f3n de inicio de sesi\u00f3n de su cuenta bancaria: es una forma segura de que le roben sus Bitcoins. \u00a1Ser\u00e1 mejor que te ci\u00f1as a m\u00e9todos m\u00e1s tradicionales para ganarte el coraz\u00f3n de alguien!" + ], + "id": "llave privada", + "question": "\u00bfCu\u00e1l es el prop\u00f3sito de la clave privada en una transacci\u00f3n de Bitcoin?", + "text": "Otra piedra angular de Bitcoin es la criptograf\u00eda de clave p\u00fablica que utiliza un par de claves (una clave p\u00fablica y una privada) para firmar transacciones y verificar la propiedad de las direcciones de Bitcoin.\n\nLa clave privada es una larga cadena de caracteres que se utiliza para autorizar transacciones de Bitcoin. A menudo se representa como una combinaci\u00f3n de 12 palabras (a veces 24). S\u00f3lo en el orden correcto las palabras dan como resultado la clave privada correspondiente.\n\nQuien conozca la clave privada de una direcci\u00f3n de bitcoin puede controlar los bitcoins en esa direcci\u00f3n. Por eso es importante que se mantenga en secreto y nunca se comparta con nadie. Lo ideal ser\u00eda almacenarlo sin conexi\u00f3n, para que ning\u00fan programa no deseado pueda acceder a \u00e9l.\n", + "title": "Criptograf\u00eda de clave p\u00fablica", + "type": "Texto" + }, + { + "answers": [ + "Para generar un n\u00famero ilimitado de direcciones Bitcoin a partir de una \u00fanica clave", + "Para autorizar transacciones de Bitcoin", + "Comprobar que la oferta de todos los bitcoins existentes no supera los 21 millones" + ], + "feedback": [ + "\u00a1Correcto! Vale la pena se\u00f1alar que, si bien los fondos solo se pueden mover con la clave privada, podr\u00eda ser una buena idea no compartir la clave p\u00fablica maestra en un foro p\u00fablico para preservar la privacidad financiera. Comparta \u00fanicamente direcciones de Bitcoin con pagadores para recibir pagos", + "No, la clave p\u00fablica maestra no se utiliza para autorizar transacciones de Bitcoin. Ese es el trabajo de la clave privada. Intentar otra vez", + "No. Si bien cada usuario puede verificar de forma independiente el suministro monetario en la red bitcoin con un nodo bitcoin, la clave p\u00fablica maestra no se utiliza para esto. Intentar otra vez." + ], + "id": "Llave p\u00fablica", + "question": "\u00bfCu\u00e1l es el prop\u00f3sito de una clave p\u00fablica maestra en Bitcoin?", + "text": "Una clave p\u00fablica maestra en Bitcoin es una clave que se deriva criptogr\u00e1ficamente de una clave privada de Bitcoin y se utiliza para generar direcciones de Bitcoin a las que los pagadores pueden enviar Bitcoin.\n\nSe puede utilizar para generar una cantidad ilimitada de direcciones Bitcoin a partir de una \u00fanica clave p\u00fablica maestra.\n\nSi bien la clave privada se utiliza para autorizar transacciones de Bitcoin y, por lo tanto, debe mantenerse privada, las direcciones de Bitcoin derivadas de la clave p\u00fablica se pueden compartir con un pagador para recibir sus pagos.\n\nLas claves p\u00fablicas maestras constan de una larga secuencia de n\u00fameros y letras y comienzan con xpub, ypub o zpub.\n\nUna direcci\u00f3n de Bitcoin para recibir pagos comienza con 1, 3 o bc1.\n", + "title": "Direcciones de Bitcoin y la clave p\u00fablica maestra", + "type": "Texto" + }, + { + "answers": [ + "Para agregar transacciones a la cadena de bloques y proteger la red", + "Para ganar mucho dinero", + "Acumular cantidades gigantescas de poder de c\u00f3mputo para que la IA se apodere del mundo" + ], + "feedback": [ + "\u00a1Correcto! Los mineros realizan trabajos en forma de c\u00e1lculos y compiten con otros mineros para ver qui\u00e9n puede agregar el siguiente bloque de transacciones a la cadena de bloques y ganar la recompensa del bloque.", + "Ese no es el objetivo principal de la miner\u00eda. **** Si bien es cierto que los mineros reciben una recompensa en bitcoins por sus esfuerzos, tambi\u00e9n tienen que pagar por la electricidad que utilizan para realizar los c\u00e1lculos. Intentar otra vez", + "\u00a1Vaya, ese es un objetivo ambicioso! Si bien es cierto que la miner\u00eda requiere una cantidad significativa de poder computacional, estoy bastante seguro de que el objetivo principal no es crear un ej\u00e9rcito de se\u00f1ores de la IA. \u00a1Mejor suerte la pr\u00f3xima vez!" + ], + "id": "miner\u00eda", + "question": "\u00bfCu\u00e1l es el objetivo principal de la miner\u00eda en la red bitcoin?", + "text": "Cuando un usuario desea enviar una transacci\u00f3n en la red bitcoin, debe firmar la transacci\u00f3n con su clave privada para demostrar que es el propietario de los fondos que se transfieren. Una vez firmada la transacci\u00f3n, se transmite a la red peer-to-peer.\n\nLa miner\u00eda es el proceso de agregar transacciones a la cadena de bloques de bitcoin. Cuando una transacci\u00f3n se transmite a la red, los mineros la recogen y verifican que la transacci\u00f3n sea v\u00e1lida (es decir, que el usuario tenga los fondos necesarios y la clave privada utilizada para firmar la transacci\u00f3n corresponda a la clave p\u00fablica asociada con los fondos). ).\n\nUna vez que se ha verificado una transacci\u00f3n, se agrega a un bloque de transacciones, junto con un rompecabezas matem\u00e1tico. Los mineros compiten para resolver el rompecabezas, y el primero en resolverlo agrega el bloque a la cadena de bloques y reclama una recompensa en bitcoins. La recompensa es actualmente de 6,25 bitcoins, m\u00e1s las tarifas de transacci\u00f3n que se incluyeron en el bloque.\n\nAdem\u00e1s de agregar transacciones a la cadena de bloques, la miner\u00eda tambi\u00e9n sirve para proteger la red bitcoin. Esto se debe a que resolver el rompecabezas requiere una cantidad significativa de potencia computacional y agregar un bloque a la cadena de bloques requiere que otros mineros verifiquen la soluci\u00f3n. Esto hace que sea muy dif\u00edcil para cualquier persona o grupo manipular la cadena de bloques.\n", + "title": "Miner\u00eda", + "type": "Texto" + }, + { + "answers": [ + "A trav\u00e9s de prueba de trabajo, que involucra a mineros compitiendo para resolver un acertijo matem\u00e1tico", + "Realizando un sorteo entre todos aquellos que tengan bitcoins en una billetera", + "A trav\u00e9s de un proceso de votaci\u00f3n por mayor\u00eda" + ], + "feedback": [ + "\u00a1Correcto! Felicitaciones por comprender c\u00f3mo la red bitcoin crea una fuente de verdad que no puede ser manipulada por las \u00e9lites ricas o los iniciados.", + "No, esto ser\u00eda una prueba de participaci\u00f3n, que es un mecanismo de consenso diferente que implica elegir el siguiente productor de bloques proporcional a su participaci\u00f3n (cu\u00e1ntas monedas tiene) en la red. Intentar otra vez", + "Mal, pero es una idea interesante. La red bitcoin no utiliza un proceso de votaci\u00f3n mayoritaria para crear una fuente de verdad. \u00a1Intentar otra vez!" + ], + "id": "prueba de trabajo", + "question": "\u00bfC\u00f3mo crea la red Bitcoin una fuente de verdad a pesar de no tener una autoridad central?", + "text": "Los sistemas descentralizados, por definici\u00f3n, no tienen una \u00fanica fuente de verdad.\n\nEl avance de Satoshi fue construir un sistema que permita a todos los participantes concentrarse en la misma verdad de forma independiente. La prueba de trabajo es lo que permite que esto suceda. El objetivo de la prueba del trabajo es crear una historia irrefutable. Si dos historias compiten, gana la que tenga m\u00e1s trabajo incrustado.\n\nLa cadena con m\u00e1s trabajo es la verdad, por definici\u00f3n. Esto se llama consenso de Nakamoto. Esto funciona porque el trabajo requiere energ\u00eda. En Bitcoin, el trabajo es computaci\u00f3n. No cualquier tipo de c\u00e1lculo, sino un c\u00e1lculo que no tiene atajos: adivinar.\n\n En ausencia de una autoridad central, la prueba de trabajo es necesaria porque garantiza que no haya atajos para agregar transacciones a la cadena de bloques.\n\n Los mineros deben competir para resolver el rompecabezas mediante c\u00e1lculos de fuerza bruta, que son de naturaleza probabil\u00edstica, y la prueba de que el trabajo se ha realizado se vuelve evidente en el resultado del trabajo. Esto hace que sea muy dif\u00edcil para cualquier persona o grupo manipular el historial de transacciones.\n", + "title": "Prueba de trabajo", + "type": "Texto" + }, + { + "answers": [ + "Se reduce a la mitad", + "esta duplicado", + "Se multiplica por un n\u00famero aleatorio elegido por el software bitcoin." + ], + "feedback": [ + "\u00a1As\u00ed es! Satoshi determin\u00f3 la reducci\u00f3n del suministro de nuevos bitcoins a la mitad en la primera versi\u00f3n del software Bitcoin en 2009 y es pr\u00e1cticamente imposible cambiarlo.", + "Lo sentimos, pero la recompensa en bloque no se duplica cada cuatro a\u00f1os. Debes estar confundiendo Bitcoin con la oferta de monedas fiduciarias que cada vez se expanden a un ritmo m\u00e1s r\u00e1pido. Intentar otra vez", + "Muy creativo, pero equivocado. El calendario de suministro de Bitcoin es cualquier cosa menos aleatorio. Su previsibilidad proporciona una certeza a los actores econ\u00f3micos como ning\u00fan otro en la historia de la humanidad. \u00a1Intentar otra vez!" + ], + "id": "dificultadAjuste", + "question": "\u00bfQu\u00e9 pasa con la recompensa en bloque en la red bitcoin cada cuatro a\u00f1os?", + "text": "Un elemento crucial del protocolo Bitcoin es el ajuste de dificultad. Este algoritmo garantiza que se encuentren nuevos bloques cada 10 minutos en promedio.\n\nCuando m\u00e1s mineros se unen a la red, el tiempo promedio necesario para encontrar un nuevo bloque disminuye. En el caso contrario, cuando los mineros abandonan la red, tardan m\u00e1s en agregar un nuevo bloque. El algoritmo de ajuste de dificultad ajusta la dificultad del rompecabezas matem\u00e1tico para que coincida con los cambios en la potencia inform\u00e1tica combinada de todos los mineros. Esto evita la creaci\u00f3n de m\u00e1s (o menos) unidades de bitcoin que el programa de suministro predeterminado.\n\nEsto contrasta marcadamente con la extracci\u00f3n f\u00edsica de metales preciosos como el oro, donde agregar m\u00e1s mineros de oro conduce a una mayor oferta de oro y, por lo tanto, a una disminuci\u00f3n de su precio. Sin embargo, en Bitcoin, la incorporaci\u00f3n de nuevos mineros s\u00f3lo a\u00f1ade m\u00e1s seguridad a la red.\n", + "title": "Ajuste de dificultad", + "type": "Texto" + }, + { + "answers": [ + "Se reduce a la mitad", + "esta duplicado", + "Se multiplica por un n\u00famero aleatorio elegido por el software bitcoin." + ], + "feedback": [ + "\u00a1As\u00ed es! Satoshi determin\u00f3 la reducci\u00f3n del suministro de nuevos bitcoins a la mitad en la primera versi\u00f3n del software Bitcoin en 2009 y es pr\u00e1cticamente imposible cambiarlo.", + "Lo sentimos, pero la recompensa en bloque no se duplica cada cuatro a\u00f1os. Debes estar confundiendo Bitcoin con la oferta de monedas fiduciarias que cada vez se expanden a un ritmo m\u00e1s r\u00e1pido. Intentar otra vez", + "Muy creativo, pero equivocado. El calendario de suministro de Bitcoin es cualquier cosa menos aleatorio. Su previsibilidad proporciona una certeza a los actores econ\u00f3micos como ning\u00fan otro en la historia de la humanidad. \u00a1Intentar otra vez!" + ], + "id": "reducir a la mitad", + "question": "\u00bfQu\u00e9 pasa con la recompensa en bloque en la red bitcoin cada cuatro a\u00f1os?", + "text": "Un \u00faltimo elemento que es importante entender es que la recompensa por bloque en la red bitcoin se reduce a la mitad cada cuatro a\u00f1os, o cada 210.000 bloques.\n\nEste evento, conocido como \"reducci\u00f3n a la mitad\", est\u00e1 programado en el software bitcoin que ejecutan todos los usuarios. Cuando Bitcoin se lanz\u00f3 por primera vez, los mineros recibieron 50 nuevos bitcoins por cada bloque que agregaron a la cadena de bloques. Actualmente, la recompensa en bloque es de 6,25 bitcoins, pero se reducir\u00e1 a 3,125 bitcoins en 2024 cuando se produzca la pr\u00f3xima reducci\u00f3n a la mitad.\n\nEstas reducciones a la mitad seguir\u00e1n produci\u00e9ndose hasta el a\u00f1o 2140, momento en el que el n\u00famero total de bitcoins que se habr\u00e1n extra\u00eddo tendr\u00e1 un l\u00edmite de 21 millones. En 2023, alrededor del 92 % de todos los bitcoins (~19,3 millones) ya se han extra\u00eddo.\n\nA diferencia de las monedas fiduciarias, que pueden ser inflacionarias, el bitcoin es de naturaleza desinflacionaria. Esto lo hace m\u00e1s escaso que los metales preciosos y fiduciarios como el oro y la plata, o cualquier otra cosa conocida en el universo.\n", + "title": "La reducci\u00f3n a la mitad", + "type": "Texto" + } + ], + "meta": { + "id": "Bitcoin: \u00bfC\u00f3mo funciona?", + "title": "Bitcoin: \u00bfC\u00f3mo funciona?" + } +} \ No newline at end of file diff --git a/chapter-302-bitcoin-how-does-it-work/302.01-lesson-peer-2-peer.json b/chapter-302-bitcoin-how-does-it-work/302.01-lesson-peer-2-peer.json new file mode 100644 index 0000000..86db025 --- /dev/null +++ b/chapter-302-bitcoin-how-does-it-work/302.01-lesson-peer-2-peer.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The blockchain", + "The internet", + "A decentralized network of nodes" + ], + "feedback": [ + "Correct! Satoshi was the first to successfully implement the blockchain - a concept first described in 1991 by Stuart Haber and W. Scott Stornetta. It's a decentralized form of bookkeeping that is resistant to tampering and allows users to make and verify transactions without the need for a central authority", + "No. The internet is a global network of interconnected computers, but it was not invented by Satoshi and does not solve issues of centralization and double spends. Try again", + "A decentralized network of nodes is an important part of Bitcoin, but it does not solve issues of centralization and double spends by itself. Try again!" + ], + "id": "peer2Peer", + "question": "Which technology did Satoshi implement to solve issues of centralization and double spends", + "text": "To solve the earlier mentioned issues of centralization and possible double spends, Satoshi invented a solution based on a decentralized network of nodes.\n\nNodes are computers that are in constant contact with each other. This by itself is nothing new. The internet itself has a similar infrastructure of interconnected nodes.\n\nAll bitcoin nodes, however, store a copy of the ledger of all transactions in the history of the Bitcoin network.\n\nThis new, decentralized form of bookkeeping, called blockchain, was first successfully implemented in Bitcoin and is extremely resistant to tampering.\n", + "title": "Peer-to-Peer Network", + "type": "Text" +} diff --git a/chapter-302-bitcoin-how-does-it-work/302.02-lesson-blockchain.json b/chapter-302-bitcoin-how-does-it-work/302.02-lesson-blockchain.json new file mode 100644 index 0000000..9aa36ad --- /dev/null +++ b/chapter-302-bitcoin-how-does-it-work/302.02-lesson-blockchain.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To create a tamper-evident record of all transactions on the blockchain", + "To ensure that blocks can be altered or replaced easily", + "To make sure that the Artificial Intelligence that created Bitcoin has enough computation power to take over the world" + ], + "feedback": [ + "Correct! The cryptographic hash function helps to create a tamper-evident record of all transactions on the blockchain, which can be used to verify the integrity of the data stored on the chain. Did you know that the cryptographic hash function is also an essential part of the proof-of-work mechanism that helps to secure the Bitcoin network", + "That's a hilarious idea, but no, the cryptographic hash function actually ensures the opposite. Try again", + "Ha! I'm not sure who told you that the Bitcoin blockchain was created by AI, but I think they might have been pulling your leg. Try again!" + ], + "id": "blockchain", + "question": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain", + "text": "The Bitcoin blockchain is a distributed database that maintains a continuously growing list of Bitcoin transactions called blocks.\n\nBlocks are anchored to each other through the use of cryptographic hashes. Each block contains a cryptographic hash of the previous block, as well as a timestamp and transaction data. This creates a chain of blocks that are all linked together, with each block building on the one before it.\n\nThe cryptographic hash function ensures that once a block has been added to the chain, it cannot be altered or replaced without also changing all of the subsequent blocks in the chain.\n\nThis creates a tamper-evident record of all transactions that have occurred on the blockchain, which can be used to verify the integrity of the data stored on the chain.\n", + "title": "What is a blockchain exactly?", + "type": "Text" +} diff --git a/chapter-302-bitcoin-how-does-it-work/302.03-lesson-private-key.json b/chapter-302-bitcoin-how-does-it-work/302.03-lesson-private-key.json new file mode 100644 index 0000000..c2a192b --- /dev/null +++ b/chapter-302-bitcoin-how-does-it-work/302.03-lesson-private-key.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To sign transactions and prove ownership of Bitcoins", + "To verify the ownership of a Bitcoin address", + "To make a stranger fall in love by posting it on social media" + ], + "feedback": [ + "Correct! The private key is used to sign transactions and prove ownership of Bitcoins. It's an essential part of the process of sending and receiving Bitcoin payments, and it's important to keep it secret and secure. Good job", + "Almost. **** While the private key can be used to verify the ownership of a Bitcoin address, that's not its primary purpose", + "Posting it on social media would be like posting your bank account login information online - it's a surefire way to get your Bitcoins stolen. Better stick to more traditional methods of winning someone's heart!" + ], + "id": "privateKey", + "question": "What is the purpose of the private key in a Bitcoin transaction", + "text": "Another cornerstone of Bitcoin is Public Key Cryptography that uses a pair of keys - a public key and a private key - to sign transactions and verify the ownership of Bitcoin addresses.\n\nThe private key is a long string of characters that is used to authorize Bitcoin transactions. It is often represented as a combination of 12 words (sometimes 24). Only in the correct order do the words result in the corresponding private key.\n\nWhoever knows the private key of a bitcoin address can control the bitcoin in that address. Therefore it is important that it is kept secret and never shared with anyone. Ideally, it should be stored offline, so that no unwanted program can access it. \n", + "title": "Public Key Cryptography", + "type": "Text" +} diff --git a/chapter-302-bitcoin-how-does-it-work/302.04-lesson-public-key.json b/chapter-302-bitcoin-how-does-it-work/302.04-lesson-public-key.json new file mode 100644 index 0000000..7eabc90 --- /dev/null +++ b/chapter-302-bitcoin-how-does-it-work/302.04-lesson-public-key.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To generate an unlimited number of Bitcoin addresses from a single key", + "To authorize Bitcoin transactions", + "To verify that the supply of all bitcoin in existence does not exceed 21 million" + ], + "feedback": [ + "Correct! It's worth noting that, while funds can only be moved with the private key, it might be a good idea to not share the master public key on a public forum to preserve financial privacy. Only share Bitcoin addresses with payers to receive payments", + "No, the master public key is not used to authorize Bitcoin transactions. That's the job of the private key. Try again", + "No. While every user can independently verify the monetary supply of in the bitcoin network with a bitcoin node, this is not what the master public key is used for. Try again." + ], + "id": "publicKey", + "question": "What is the purpose of a master public key in Bitcoin", + "text": "A master public key in Bitcoin is a key that is cryptographically derived from a Bitcoin private key and is used to generate Bitcoin addresses that payers can send Bitcoin to.\n\nIt can be used to generate an unlimited number of Bitcoin addresses from a single master public key.\n\nWhile the private key is used to authorize Bitcoin transactions and therefore needs to be kept private, the Bitcoin addresses derived from the public key can be shared with a payer to receive payments from them.\n\nMaster public keys consist of a long sequence of numbers and letters and begin with xpub, ypub or zpub.\n\nA Bitcoin address for receiving payments starts with either 1, 3 or bc1.\n", + "title": "Bitcoin Addresses and the Master Public Key", + "type": "Text" +} diff --git a/chapter-302-bitcoin-how-does-it-work/302.05-lesson-mining.json b/chapter-302-bitcoin-how-does-it-work/302.05-lesson-mining.json new file mode 100644 index 0000000..1e8b8f8 --- /dev/null +++ b/chapter-302-bitcoin-how-does-it-work/302.05-lesson-mining.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To add transactions to the blockchain and secure the network", + "To make a lot of money", + "To amass giant amounts of computation power for AI to take over the world" + ], + "feedback": [ + "Correct! Miners perform work in the form of computations and compete with other miners for who can add the next block of transactions to the blockchain and earn the block reward", + "That's not the main purpose of mining. **** While it's true that miners do receive a reward in bitcoin for their efforts, they also have to pay for the electricity they use to perform computations. Try again", + "Wow, that's an ambitious goal! While it's true that mining requires a significant amount of computational power, I'm pretty sure the main purpose is not to create an army of AI overlords. Better luck next time!" + ], + "id": "mining", + "question": "What is the main purpose of mining in the bitcoin network", + "text": "When a user wants to send a transaction in the bitcoin network, they need to sign the transaction with their private key to prove that they are the owner of the funds being transferred. Once the transaction is signed, it is broadcasted to the peer-to-peer network.\n\nMining is the process of adding transactions to the bitcoin blockchain. When a transaction is broadcasted to the network, it is picked up by miners, who verify that the transaction is valid (i.e., the user has the necessary funds and the private key used to sign the transaction corresponds to the public key associated with the funds).\n\nOnce a transaction has been verified, it is added to a block of transactions, along with a mathematical puzzle. Miners compete to solve the puzzle, and the first one to solve it gets to add the block to the blockchain and claim a reward in bitcoin. The reward is currently 6.25 bitcoins, plus any transaction fees that were included in the block.\n\nIn addition to adding transactions to the blockchain, mining also serves to secure the bitcoin network. This is because solving the puzzle requires a significant amount of computational power, and adding a block to the blockchain requires other miners to verify the solution. This makes it very difficult for any one person or group to manipulate the blockchain.\n", + "title": "Mining", + "type": "Text" +} diff --git a/chapter-302-bitcoin-how-does-it-work/302.06-lesson-proof-of-work.json b/chapter-302-bitcoin-how-does-it-work/302.06-lesson-proof-of-work.json new file mode 100644 index 0000000..29c6924 --- /dev/null +++ b/chapter-302-bitcoin-how-does-it-work/302.06-lesson-proof-of-work.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Through proof of work, which involves miners competing to solve a mathematical puzzle", + "By holding a lottery among all those that have bitcoins in a wallet", + "Through a process of majority voting" + ], + "feedback": [ + "Correct! Congrats on understanding how the bitcoin network creates a source of truth that cannot be manipulated by wealthy elites or insiders", + "No, this would be proof of stake, which is a different consensus mechanism that involves choosing the next block producer proportional to their stake (how many coins they hold) in the network. Try again", + "Wrong, but it's an interesting idea. The bitcoin network does not use a process of majority voting to create a source of truth. Try again!" + ], + "id": "proofOfWork", + "question": "How does the Bitcoin network create a source of truth despite having no central authority", + "text": "Decentralized systems, by definition, do not have a single source of truth.\n\nSatoshi's breakthrough was to build a system that allows all participants to zero in on the same truth independently. Proof of work is what allows this to happen. The point of proof of work is to create an irrefutable history. If two histories compete, the one with the most work embedded in it wins.\n\nThe chain with the most work is the truth, by definition. This is called Nakamoto consensus. This works because work requires energy. In Bitcoin, work is computation. Not any kind of computation, but computation that has no shortcut: guessing.\n\n In the absence of a central authority, proof of work is necessary because it ensures that there is no shortcut to adding transactions to the blockchain.\n\n Miners must compete to solve the puzzle through brute force computation, which is probabilistic in nature, and the proof that the work has been done becomes self-evident in the outcome of the work. This makes it very difficult for any one person or group to manipulate the transaction history.\n", + "title": "Proof of Work", + "type": "Text" +} diff --git a/chapter-302-bitcoin-how-does-it-work/302.07-lesson-difficulty-adjustment.json b/chapter-302-bitcoin-how-does-it-work/302.07-lesson-difficulty-adjustment.json new file mode 100644 index 0000000..bb254ba --- /dev/null +++ b/chapter-302-bitcoin-how-does-it-work/302.07-lesson-difficulty-adjustment.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "id": "difficultyAdjustment", + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "A crucial element of the Bitcoin protocol is the Difficulty Adjustment. This algorithm ensures that new blocks are found every 10 minutes on average.\n\nWhen more miners join the network, the average time required to find a new block goes down. In the opposite case, when miners leave the network, it takes longer to add a new block. The Difficulty Adjustment algorithm adjusts the difficulty of the mathematical puzzle to match changes in the combined computing power of all miners. This prevents the creation of more (or less) bitcoin units than the predetermined supply schedule.\n\nThis is in stark contrast to physical mining of precious metals like gold where adding more gold miners leads to a higher supply of gold and therefore a decrease in its price. In Bitcoin however, the addition of new miners only adds more security to the network.\n", + "title": "Difficulty Adjustment", + "type": "Text" +} diff --git a/chapter-302-bitcoin-how-does-it-work/302.08-lesson-halving.json b/chapter-302-bitcoin-how-does-it-work/302.08-lesson-halving.json new file mode 100644 index 0000000..3c1e1de --- /dev/null +++ b/chapter-302-bitcoin-how-does-it-work/302.08-lesson-halving.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "id": "halving", + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "One final element that is important to understand, is that the block reward in the bitcoin network is reduced by half every four years, or every 210,000 blocks.\n\nThis event, known as the \"halving\", is programmed into the bitcoin software that all users run. When bitcoin was first launched, miners received 50 new bitcoins for each block they added to the blockchain. Currently, the block reward is 6.25 bitcoins, but it will be reduced to 3.125 bitcoins in 2024 when the next halving occurs.\n\nThese halvings will continue to take place until the year 2140, at which point the total number of bitcoins that will have been mined will be capped at 21 million. As of 2023, around 92% of all bitcoins (\\~19.3 million) have already been mined.\n\nUnlike fiat currencies, which can be inflationary, bitcoin is disinflationary in nature. This makes it more scarce than fiat and precious metals such as gold and silver, or anything else known in the universe.\n", + "title": "The Halving", + "type": "Text" +} diff --git a/chapter-401-lightning-network/401-combined.json b/chapter-401-lightning-network/401-combined.json new file mode 100644 index 0000000..ad2ba4a --- /dev/null +++ b/chapter-401-lightning-network/401-combined.json @@ -0,0 +1,144 @@ +{ + "content": [ + { + "answers": [ + "It takes too long to confirm transactions", + "It is difficult to use", + "It is not a trusted intermediary" + ], + "feedback": [ + "Correct! Great job! You may be pleased to hear that solutions have been deployed to improve the settlement time of Bitcoin payments to a few seconds. ", + "Wrong! But you are forgiven, Bitcoin is actually very easy to use. Try again", + "Wrong! But don't worry, Bitcoin actually allows anyone to send value without a trusted intermediary. Try again!" + ], + "id": "bitcoinDrawbacks", + "question": "What is a drawback of Bitcoin's design", + "text": "Bitcoin, the world's most widely used and valuable digital currency, allows anyone to send value without a trusted intermediary.\n\nThere are, however, some drawbacks to bitcoin's design which prioritizes security and decentralization at the cost of scalability.\n\nTransactions confirmed on the bitcoin blockchain take up to one hour before they are irreversible.\n\nMicropayments, or payments less than a few cents, are inconsistently confirmed, and fees render such transactions unviable on the network today.\n\nCurrently, Bitcoin's blockchain can process around 3 transactions per second. This is generally seen as an impediment for Bitcoin to become a currency that facilitates the everyday retail transactions of millions around the world.\n", + "title": "Drawbacks of Bitcoin", + "type": "Text" + }, + { + "answers": [ + "Whether or not to increase the blocksize", + "Whether or not to censor certain transactions", + "Whether or not to change the consensus algorithm to proof of stake" + ], + "feedback": [ + "Correct. The users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network, showing that Bitcoin is controlled by users, not corporations", + "Not quite. Both sides were publicly in favor of preserving censorship-resistance, however companies in the Bitcoin ecosystem were willing to accept some centralization in exchange for quick wins in scalability. Try again", + "Haha, but no. While there are some dubious voices that demand the abolishment of proof of work in favor of proof of stake, this was never a debate in Bitcoin, and never will be. Try again." + ], + "id": "blocksizeWars", + "question": "What was the contention in the Blocksize Wars", + "text": "These drawbacks lead to a debate within the Bitcoin community about the best way to scale the Bitcoin network, often dubbed the Blocksize Wars.\n\nCompanies in the Bitcoin ecosystem argued that increasing the blocksize, which is the maximum size of a block of transactions on the blockchain, would allow more transactions to be processed per second, making the network more efficient and able to handle a larger volume of transactions.\n\nBitcoin users on the other side of the debate argued that increasing the blocksize would centralize the network, as it would require more expensive and powerful computers to process the larger blocks, and could potentially lead to Bitcoin becoming prone to censorship.\n\nThe users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network and demonstrated that Bitcoin is controlled by users, not corporations. This also meant that scaling Bitcoin would require a different enigneering solution than merely increasing the blocksize.\n", + "title": "The Blocksize Wars", + "type": "Text" + }, + { + "answers": [ + "It allows users to make small, near instant payments at low cost", + "It helps users preserve the decentralization of the Bitcoin network", + "It ensures that every transaction is added to the Bitcoin blockchain" + ], + "feedback": [ + "Correct! The Lightning Network allows users to make small, near instant payments at low cost, and it eliminates the need for every transaction to be added to the Bitcoin blockchain. Congrats! As a fun fact, the Lightning Network has helped increase the adoption of Bitcoin by allowing it to process more transactions per second and handle higher volumes of transactions", + "Incorrect! The Lightning Network is actually a scaling solution built on top of the Bitcoin protocol. Try again", + "Incorrect! The Lightning Network actually eliminates the need for every transaction to be added to the Bitcoin blockchain, as it allows for smaller payments to be made off-chain." + ], + "id": "lightningNetwork", + "question": "What does the Lightning Network do", + "text": "While users prevailed and preserved the decentralization of the Bitcoin network, a solution to scale Bitcoin proposed by researchers Tadge Dryja and Joseph Poon, called the Lightning Network, started to gain traction and was launched in 2017.\n\nThe Lightning Network, often referred to as just Lightning or LN, is a scaling solution built on top of the Bitcoin protocol. It facilitates smaller, near instant payments between users at very low cost and eliminates the need for every transaction to be added to the Bitcoin blockchain whilst ensuring that the value being transacted abides by the rules of the Bitcoin network.\n", + "title": "The Lightning Network", + "type": "Text" + }, + { + "answers": [ + "A matter of seconds", + "10 minutes", + "1 hour" + ], + "feedback": [ + "Correct! This makes the Lightning Network a great option for situations where you need to make a payment immediately, such as retail transactions or peer-to-peer payments", + "Incorrect! On the Bitcoin network, transactions are grouped into blocks that are added to the blockchain about every 10 minutes. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure. Try again", + "Incorrect! On the Bitcoin network, payments are considered secure after they have been confirmed by six blocks, or about an hour. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure." + ], + "id": "instantPayments", + "question": "How long does it take for a payment to be considered secure on the Lightning Network", + "text": "In the Bitcoin network, transactions are grouped together in blocks, and new blocks are added to the blockchain about every 10 minutes. When a payment is made using Bitcoin, it is considered secure after it has been confirmed by six blocks, or about an hour.\n\nOn the Lightning Network, payments do not have to wait for block confirmations to be considered secure. Instead, they are instant and completed all at once in a matter of few seconds.\n\nThis makes it possible to use the Lightning Network for retail transactions, peer-to-peer payments, or any other situation where you need to make a payment immediately.\n", + "title": "Instant Payments", + "type": "Text" + }, + { + "answers": [ + "A payment for a small amount of money, often less than a dollar", + "A payment that requires a minimum amount and fixed fee", + "A payment made using the Lightning Network" + ], + "feedback": [ + "Exactly! These types of payments can be difficult to make using traditional financial systems or the Bitcoin network, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical", + "Nope**.** While traditional financial systems may require a minimum amount and fixed fee for payments, the Lightning Network allows for the possibility of making very small payments without these limitations", + "Not quite! While the Lightning Network does allow for the possibility of making micropayments, a micropayment is not defined as a payment made using the Lightning Network. Try again!" + ], + "id": "micropayments", + "question": "What is a micropayment", + "text": "Micropayments refer to very small financial transactions, often for amounts less than a dollar. These types of payments can be difficult to make using traditional financial systems, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical.\n\nThe Lightning Network allows for the possibility of making micropayments using Bitcoin. It enables users to send very small amounts of Bitcoin, down to 1 sat, without the risk of losing control of their funds to a third party (called \"custodial risk\"). \n\nIn contrast, the Bitcoin blockchain currently has minimum transaction amounts and fees that make micropayments impractical. The Lightning Network allows for minimal payments denominated in Bitcoin, using actual Bitcoin transactions. This opens up the possibility of creating new markets and making small payments more practical.\n", + "title": "Micropayments", + "type": "Text" + }, + { + "answers": [ + "To meet the demand for retail and automated payments", + "To make Bitcoin more attractive to investors", + "To get the required licences for interoperability with financial institutions" + ], + "feedback": [ + "That's right. The Lightning Network helps the Bitcoin network achieve scalability by allowing users to conduct nearly unlimited transactions off-chain on a second layer", + "That's not it! While improving the attractiveness of Bitcoin to investors could be a benefit of improving scalability, it is not the main reason why scalability is important for the Bitcoin network", + "Try again! **** Obtaining required licenses for interoperability with financial institutions may be a goal for some organizations working with Bitcoin, but it is not directly related to the concept of scalability." + ], + "id": "scalability", + "question": "Why is scalability important for the Bitcoin network", + "text": "Scalability refers to the ability of a system, such as a network or platform, to handle a large amount of usage or traffic without experiencing issues or slowdowns.\n\nScalability is important for Bitcoin because the network will need to be able to support a much higher volume of transactions in order to meet the demand of retail and automated payments.\n\nThe Lightning Network allows users to conduct nearly unlimited transactions between each other outside of the Bitcoin blockchain, or off-chain.\n\nThis means that transactions can be conducted without the need for each one to be recorded on the blockchain, which helps to reduce the load on the network and allows it to handle more transactions.\n", + "title": "Scalability", + "type": "Text" + }, + { + "answers": [ + "By pushing bitcoin from one side of the channel to the other each time a payment is made", + "By broadcasting every transaction immediately to the Bitcoin blockchain as soon as it happens", + "By paying a commission to a 3rd party payment provider" + ], + "feedback": [ + "That's right! Think of moving bitcoin in a Lightning channel like moving beads on an abacus. Each side keeps track of how much is on their side until it's time to settle on the Bitcoin blockchain. Good job", + "Quite the opposite! Payment channels in Lightning avoid broadcasting every transaction by aggregating them. Try again", + "Uhm no, actually payments in Lightning Network save the users fees for not settling every transaction on the blockchain. Try again!" + ], + "id": "paymentChannels", + "question": "How do payment channels in the Lightning Network allow users to pay each other", + "text": "The Lightning Network consists of thousands of two party payment channels.\n\nYou may think of a Lightning channel like opening a tab at your local bar. Instead of pulling out your wallet and paying each time you order a drink, it makes sense to save time, energy and fees by tallying all your drinks together at the end of the night and making the final settlement in one payment.\n\nLightning works similar. Each time a payment is made from person A to person B, bitcoin are pushed from one side of the channel to the other. Two users can pay one another back and forth as many times as they like, almost instantly and with close to no fees.\n", + "title": "How does Lighning work?", + "type": "Text" + }, + { + "answers": [ + "By using a network of intermediaries to route payments between users", + "By using teleportation to instantly transfer bitcoin from one user to another", + "By using a virtual reality simulation to simulate the transfer of bitcoin between users" + ], + "feedback": [ + "Correct! This is like delivering a package from one person to another by passing it along a series of friendly postmen! Congrats", + "Hah no, this isn't science-fiction from Star Trek, but real world cryptographic engineering! Try again", + "May I interest you for a simulation of a simulation? Jokes aside, this isn't it. Try again!" + ], + "id": "routing", + "question": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel", + "text": "You may be thinking that setting up a payment channel with hundreds of businesses could be tedious, but no. The beauty of the Lightning Network is that it is a network of channels stitched together.\n\nLet us say Bob convinced his friend Carol to also join the Lightning Network. Alice has a channel with Bob, and Bob has a channel with Carol. Alice and Carol can then pay each other by “routing” through Bob.\n\nSome pretty clever cryptographic tricks guarantee that Bob cannot steal the money while it’s passing through him.\n\nWhen you make a payment on the Lightning Network, your node searches for a path of channels between you and your destination. This is what’s referred to as routing. This is of course all done automatically by the involved Lightning nodes, enabling it to happen in the blink of an eye.\n", + "title": "Routing", + "type": "Text" + } + ], + "meta": { + "id": "Lightning:Whatdoesitsolve?", + "title": "Lightning: What does it solve?" + } +} diff --git a/chapter-401-lightning-network/401-es-combined.json b/chapter-401-lightning-network/401-es-combined.json new file mode 100644 index 0000000..540499f --- /dev/null +++ b/chapter-401-lightning-network/401-es-combined.json @@ -0,0 +1,144 @@ +{ + "content": [ + { + "answers": [ + "Se tarda demasiado en confirmar las transacciones.", + "Es dificil de usar", + "No es un intermediario de confianza." + ], + "feedback": [ + "\u00a1Correcto! \u00a1Gran trabajo! Quiz\u00e1s le complazca saber que se han implementado soluciones para mejorar el tiempo de liquidaci\u00f3n de los pagos de Bitcoin a unos pocos segundos.", + "\u00a1Equivocado! Pero est\u00e1s perdonado, Bitcoin es realmente muy f\u00e1cil de usar. Intentar otra vez", + "\u00a1Equivocado! Pero no te preocupes, Bitcoin permite a cualquiera enviar valor sin un intermediario de confianza. \u00a1Intentar otra vez!" + ], + "id": "bitcoinDesventajas", + "question": "\u00bfCu\u00e1l es el inconveniente del dise\u00f1o de Bitcoin?", + "text": "Bitcoin, la moneda digital m\u00e1s utilizada y valiosa del mundo, permite a cualquiera enviar valor sin un intermediario confiable.\n\nSin embargo, existen algunos inconvenientes en el dise\u00f1o de Bitcoin, que prioriza la seguridad y la descentralizaci\u00f3n a costa de la escalabilidad.\n\nLas transacciones confirmadas en la cadena de bloques de bitcoin tardan hasta una hora antes de que sean irreversibles.\n\nLos micropagos, o pagos de menos de unos pocos centavos, se confirman de manera inconsistente y las tarifas hacen que dichas transacciones sean inviables en la red actual.\n\nActualmente, la cadena de bloques de Bitcoin puede procesar alrededor de 3 transacciones por segundo. En general, esto se considera un impedimento para que Bitcoin se convierta en una moneda que facilite las transacciones minoristas diarias de millones de personas en todo el mundo.\n", + "title": "Desventajas de Bitcoin", + "type": "Texto" + }, + { + "answers": [ + "Si aumentar o no el tama\u00f1o del bloque", + "Si censurar o no ciertas transacciones", + "Si se debe cambiar o no el algoritmo de consenso a prueba de participaci\u00f3n" + ], + "feedback": [ + "Correcto. Los usuarios finalmente prevalecieron en la preservaci\u00f3n de la descentralizaci\u00f3n y la resistencia a la censura de la red Bitcoin, lo que demuestra que Bitcoin est\u00e1 controlado por los usuarios, no por las corporaciones.", + "No exactamente. Ambas partes estaban p\u00fablicamente a favor de preservar la resistencia a la censura, sin embargo, las empresas del ecosistema Bitcoin estaban dispuestas a aceptar cierta centralizaci\u00f3n a cambio de ganancias r\u00e1pidas en escalabilidad. Intentar otra vez", + "Jaja, pero no. Si bien hay algunas voces dudosas que exigen la abolici\u00f3n de la prueba de trabajo en favor de la prueba de participaci\u00f3n, esto nunca fue un debate en Bitcoin, y nunca lo ser\u00e1. Intentar otra vez." + ], + "id": "tama\u00f1o de bloqueGuerras", + "question": "\u00bfCu\u00e1l fue la contienda en las Guerras de Tama\u00f1o de Bloques?", + "text": "Estos inconvenientes llevan a un debate dentro de la comunidad Bitcoin sobre la mejor manera de escalar la red Bitcoin, a menudo denominado Blocksize Wars.\n\nLas empresas del ecosistema Bitcoin argumentaron que aumentar el tama\u00f1o del bloque, que es el tama\u00f1o m\u00e1ximo de un bloque de transacciones en la cadena de bloques, permitir\u00eda procesar m\u00e1s transacciones por segundo, haciendo que la red sea m\u00e1s eficiente y capaz de manejar un mayor volumen de transacciones.\n\nLos usuarios de Bitcoin del otro lado del debate argumentaron que aumentar el tama\u00f1o de los bloques centralizar\u00eda la red, ya que requerir\u00eda computadoras m\u00e1s caras y potentes para procesar los bloques m\u00e1s grandes, y podr\u00eda llevar potencialmente a que Bitcoin se volviera propenso a la censura.\n\nLos usuarios finalmente prevalecieron en la preservaci\u00f3n de la descentralizaci\u00f3n y la resistencia a la censura de la red Bitcoin y demostraron que Bitcoin est\u00e1 controlado por los usuarios, no por las corporaciones. Esto tambi\u00e9n significaba que escalar Bitcoin requerir\u00eda una soluci\u00f3n de ingenier\u00eda diferente a simplemente aumentar el tama\u00f1o del bloque.\n", + "title": "Las guerras del tama\u00f1o de bloques", + "type": "Texto" + }, + { + "answers": [ + "Permite a los usuarios realizar pagos peque\u00f1os, casi instant\u00e1neos y a bajo coste.", + "Ayuda a los usuarios a preservar la descentralizaci\u00f3n de la red Bitcoin.", + "Garantiza que cada transacci\u00f3n se agregue a la cadena de bloques de Bitcoin." + ], + "feedback": [ + "\u00a1Correcto! Lightning Network permite a los usuarios realizar pagos peque\u00f1os, casi instant\u00e1neos, a bajo costo y elimina la necesidad de agregar cada transacci\u00f3n a la cadena de bloques de Bitcoin. \u00a1Felicitaciones! Como dato curioso, Lightning Network ha ayudado a aumentar la adopci\u00f3n de Bitcoin al permitirle procesar m\u00e1s transacciones por segundo y manejar mayores vol\u00famenes de transacciones.", + "\u00a1Incorrecto! Lightning Network es en realidad una soluci\u00f3n de escalabilidad construida sobre el protocolo Bitcoin. Intentar otra vez", + "\u00a1Incorrecto! Lightning Network en realidad elimina la necesidad de agregar cada transacci\u00f3n a la cadena de bloques de Bitcoin, ya que permite realizar pagos m\u00e1s peque\u00f1os fuera de la cadena." + ], + "id": "rel\u00e1mpagored", + "question": "\u00bfQu\u00e9 hace Lightning Network?", + "text": "Si bien los usuarios prevalecieron y preservaron la descentralizaci\u00f3n de la red Bitcoin, una soluci\u00f3n para escalar Bitcoin propuesta por los investigadores Tadge Dryja y Joseph Poon, llamada Lightning Network, comenz\u00f3 a ganar terreno y se lanz\u00f3 en 2017.\n\nLightning Network, a menudo denominada simplemente Lightning o LN, es una soluci\u00f3n de escalabilidad construida sobre el protocolo Bitcoin. Facilita pagos m\u00e1s peque\u00f1os y casi instant\u00e1neos entre usuarios a un costo muy bajo y elimina la necesidad de agregar cada transacci\u00f3n a la cadena de bloques de Bitcoin, al tiempo que garantiza que el valor de la transacci\u00f3n cumpla con las reglas de la red de Bitcoin.\n", + "title": "La red rel\u00e1mpago", + "type": "Texto" + }, + { + "answers": [ + "Cuesti\u00f3n de segundos", + "10 minutos", + "1 hora" + ], + "feedback": [ + "\u00a1Correcto! Esto hace que Lightning Network sea una excelente opci\u00f3n para situaciones en las que necesita realizar un pago de inmediato, como transacciones minoristas o pagos entre pares.", + "\u00a1Incorrecto! En la red Bitcoin, las transacciones se agrupan en bloques que se agregan a la cadena de bloques cada 10 minutos aproximadamente. Sin embargo, en Lightning Network, los pagos no necesitan esperar a que se confirmen los bloques para considerarse seguros. Intentar otra vez", + "\u00a1Incorrecto! En la red Bitcoin, los pagos se consideran seguros despu\u00e9s de haber sido confirmados por seis bloques, o aproximadamente una hora. Sin embargo, en Lightning Network, los pagos no necesitan esperar a que se confirmen los bloques para considerarse seguros." + ], + "id": "pagos instant\u00e1neos", + "question": "\u00bfCu\u00e1nto tiempo lleva para que un pago se considere seguro en Lightning Network?", + "text": "En la red Bitcoin, las transacciones se agrupan en bloques y se agregan nuevos bloques a la cadena de bloques aproximadamente cada 10 minutos. Cuando se realiza un pago con Bitcoin, se considera seguro despu\u00e9s de haber sido confirmado por seis bloques, o aproximadamente una hora.\n\nEn Lightning Network, los pagos no tienen que esperar a que se confirmen los bloques para considerarse seguros. En cambio, son instant\u00e1neos y se completan todos a la vez en cuesti\u00f3n de segundos.\n\nEsto hace posible utilizar Lightning Network para transacciones minoristas, pagos entre pares o cualquier otra situaci\u00f3n en la que necesite realizar un pago de inmediato.\n", + "title": "Pagos instant\u00e1neos", + "type": "Texto" + }, + { + "answers": [ + "Un pago por una peque\u00f1a cantidad de dinero, a menudo menos de un d\u00f3lar.", + "Un pago que requiere un monto m\u00ednimo y una tarifa fija", + "Un pago realizado utilizando Lightning Network" + ], + "feedback": [ + "\u00a1Exactamente! Estos tipos de pagos pueden ser dif\u00edciles de realizar utilizando los sistemas financieros tradicionales o la red Bitcoin, ya que a menudo tienen montos m\u00ednimos que se pueden transferir y tarifas fijas que pueden hacer que los pagos peque\u00f1os no sean pr\u00e1cticos.", + "No**.** Si bien los sistemas financieros tradicionales pueden requerir un monto m\u00ednimo y una tarifa fija para los pagos, Lightning Network permite la posibilidad de realizar pagos muy peque\u00f1os sin estas limitaciones.", + "\u00a1No exactamente! Si bien Lightning Network permite la posibilidad de realizar micropagos, un micropago no se define como un pago realizado mediante Lightning Network. \u00a1Intentar otra vez!" + ], + "id": "micropagos", + "question": "\u00bfQu\u00e9 es un micropago?", + "text": "Los micropagos se refieren a transacciones financieras muy peque\u00f1as, a menudo por montos inferiores a un d\u00f3lar. Estos tipos de pagos pueden ser dif\u00edciles de realizar utilizando los sistemas financieros tradicionales, ya que a menudo tienen montos m\u00ednimos que pueden transferirse y tarifas fijas que pueden hacer que los pagos peque\u00f1os no sean pr\u00e1cticos.\n\nLightning Network permite la posibilidad de realizar micropagos utilizando Bitcoin. Permite a los usuarios enviar cantidades muy peque\u00f1as de Bitcoin, hasta 1 sat, sin el riesgo de perder el control de sus fondos a un tercero (lo que se denomina \"riesgo de custodia\").\n\nPor el contrario, la cadena de bloques de Bitcoin actualmente tiene montos m\u00ednimos de transacci\u00f3n y tarifas que hacen que los micropagos no sean pr\u00e1cticos. Lightning Network permite pagos m\u00ednimos denominados en Bitcoin, utilizando transacciones reales de Bitcoin. Esto abre la posibilidad de crear nuevos mercados y hacer m\u00e1s pr\u00e1cticos los peque\u00f1os pagos.\n", + "title": "Micropagos", + "type": "Texto" + }, + { + "answers": [ + "Para satisfacer la demanda de pagos minoristas y automatizados", + "Para hacer que Bitcoin sea m\u00e1s atractivo para los inversores", + "Obtener las licencias requeridas para la interoperabilidad con instituciones financieras." + ], + "feedback": [ + "As\u00ed es. Lightning Network ayuda a la red Bitcoin a lograr escalabilidad al permitir a los usuarios realizar transacciones casi ilimitadas fuera de la cadena en una segunda capa.", + "Eso no es todo! Si bien mejorar el atractivo de Bitcoin para los inversores podr\u00eda ser un beneficio al mejorar la escalabilidad, no es la raz\u00f3n principal por la que la escalabilidad es importante para la red Bitcoin.", + "\u00a1Intentar otra vez! **** Obtener las licencias necesarias para la interoperabilidad con instituciones financieras puede ser un objetivo para algunas organizaciones que trabajan con Bitcoin, pero no est\u00e1 directamente relacionado con el concepto de escalabilidad." + ], + "id": "escalabilidad", + "question": "\u00bfPor qu\u00e9 es importante la escalabilidad para la red Bitcoin?", + "text": "La escalabilidad se refiere a la capacidad de un sistema, como una red o plataforma, para manejar una gran cantidad de uso o tr\u00e1fico sin experimentar problemas o ralentizaciones.\n\nLa escalabilidad es importante para Bitcoin porque la red deber\u00e1 poder soportar un volumen mucho mayor de transacciones para satisfacer la demanda de pagos minoristas y automatizados.\n\nLightning Network permite a los usuarios realizar transacciones casi ilimitadas entre s\u00ed fuera de la cadena de bloques de Bitcoin o fuera de la cadena.\n\nEsto significa que las transacciones se pueden realizar sin necesidad de que cada una quede registrada en la blockchain, lo que ayuda a reducir la carga en la red y le permite manejar m\u00e1s transacciones.\n", + "title": "Escalabilidad", + "type": "Texto" + }, + { + "answers": [ + "Empujando bitcoin de un lado al otro del canal cada vez que se realiza un pago", + "Transmitiendo cada transacci\u00f3n inmediatamente a la cadena de bloques de Bitcoin tan pronto como suceda.", + "Pagando una comisi\u00f3n a un proveedor de pagos externo" + ], + "feedback": [ + "\u00a1As\u00ed es! Piense en mover bitcoins en un canal Lightning como mover cuentas en un \u00e1baco. Cada lado realiza un seguimiento de cu\u00e1nto est\u00e1 de su lado hasta que llega el momento de decidirse por la cadena de bloques de Bitcoin. Buen trabajo", + "\u00a1Todo lo contrario! Los canales de pago en Lightning evitan transmitir cada transacci\u00f3n al agregarlas. Intentar otra vez", + "Uhm no, en realidad los pagos en Lightning Network ahorran a los usuarios tarifas por no liquidar todas las transacciones en la cadena de bloques. \u00a1Intentar otra vez!" + ], + "id": "canales de pago", + "question": "\u00bfC\u00f3mo los canales de pago en Lightning Network permiten a los usuarios pagarse entre s\u00ed?", + "text": "Lightning Network consta de miles de canales de pago bipartitos.\n\nPuede pensar en un canal Lightning como abrir una pesta\u00f1a en su bar local. En lugar de sacar su billetera y pagar cada vez que pide una bebida, tiene sentido ahorrar tiempo, energ\u00eda y tarifas contabilizando todas sus bebidas al final de la noche y realizando la liquidaci\u00f3n final en un solo pago.\n\nLos rayos funcionan de manera similar. Cada vez que se realiza un pago de la persona A a la persona B, los bitcoins se env\u00edan de un lado al otro del canal. Dos usuarios pueden pagarse entre s\u00ed tantas veces como quieran, casi al instante y pr\u00e1cticamente sin cargos.\n", + "title": "\u00bfC\u00f3mo funciona el rayo?", + "type": "Texto" + }, + { + "answers": [ + "Utilizando una red de intermediarios para enrutar pagos entre usuarios", + "Utilizando la teletransportaci\u00f3n para transferir bitcoins instant\u00e1neamente de un usuario a otro", + "Mediante el uso de una simulaci\u00f3n de realidad virtual para simular la transferencia de bitcoin entre usuarios" + ], + "feedback": [ + "\u00a1Correcto! \u00a1Esto es como entregar un paquete de una persona a otra pas\u00e1ndolo entre una serie de carteros amigables! Felicitaciones", + "\u00a1Ja, no, esto no es ciencia ficci\u00f3n de Star Trek, sino ingenier\u00eda criptogr\u00e1fica del mundo real! Intentar otra vez", + "\u00bfPuedo interesarte por una simulaci\u00f3n de una simulaci\u00f3n? Bromas aparte, esto no es todo. \u00a1Intentar otra vez!" + ], + "id": "enrutamiento", + "question": "\u00bfC\u00f3mo permite Lightning Network que los usuarios se paguen entre s\u00ed si no est\u00e1n conectados directamente a trav\u00e9s de un canal de pago?", + "text": "Quiz\u00e1s est\u00e9s pensando que montar un canal de pago con cientos de comercios podr\u00eda resultar tedioso, pero no. La belleza de Lightning Network es que es una red de canales unidos.\n\nDigamos que Bob convenci\u00f3 a su amiga Carol para que tambi\u00e9n se uniera a Lightning Network. Alice tiene un canal con Bob y Bob tiene un canal con Carol. Luego, Alice y Carol pueden pagarse mutuamente \"enrutando\" a trav\u00e9s de Bob.\n\nAlgunos trucos criptogr\u00e1ficos bastante inteligentes garantizan que Bob no pueda robar el dinero mientras pasa a trav\u00e9s de \u00e9l.\n\nCuando realiza un pago en Lightning Network, su nodo busca una ruta de canales entre usted y su destino. Esto es lo que se conoce como enrutamiento. Por supuesto, todo esto lo hacen autom\u00e1ticamente los nodos Lightning involucrados, lo que permite que suceda en un abrir y cerrar de ojos.\n", + "title": "Enrutamiento", + "type": "Texto" + } + ], + "meta": { + "id": "Rayo: \u00bfQu\u00e9 resuelve?", + "title": "Rayo: \u00bfQu\u00e9 soluciona?" + } +} \ No newline at end of file diff --git a/chapter-401-lightning-network/401.01-lesson-bitcoin-drawbacks.json b/chapter-401-lightning-network/401.01-lesson-bitcoin-drawbacks.json new file mode 100644 index 0000000..c26984b --- /dev/null +++ b/chapter-401-lightning-network/401.01-lesson-bitcoin-drawbacks.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "It takes too long to confirm transactions", + "It is difficult to use", + "It is not a trusted intermediary" + ], + "feedback": [ + "Correct! Great job! You may be pleased to hear that solutions have been deployed to improve the settlement time of Bitcoin payments to a few seconds. ", + "Wrong! But you are forgiven, Bitcoin is actually very easy to use. Try again", + "Wrong! But don't worry, Bitcoin actually allows anyone to send value without a trusted intermediary. Try again!" + ], + "id": "bitcoinDrawbacks", + "question": "What is a drawback of Bitcoin's design", + "text": "Bitcoin, the world's most widely used and valuable digital currency, allows anyone to send value without a trusted intermediary.\n\nThere are, however, some drawbacks to bitcoin's design which prioritizes security and decentralization at the cost of scalability.\n\nTransactions confirmed on the bitcoin blockchain take up to one hour before they are irreversible.\n\nMicropayments, or payments less than a few cents, are inconsistently confirmed, and fees render such transactions unviable on the network today.\n\nCurrently, Bitcoin's blockchain can process around 3 transactions per second. This is generally seen as an impediment for Bitcoin to become a currency that facilitates the everyday retail transactions of millions around the world.\n", + "title": "Drawbacks of Bitcoin", + "type": "Text" +} diff --git a/chapter-401-lightning-network/401.02-lesson-block-size-wars.json b/chapter-401-lightning-network/401.02-lesson-block-size-wars.json new file mode 100644 index 0000000..0f5105d --- /dev/null +++ b/chapter-401-lightning-network/401.02-lesson-block-size-wars.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Whether or not to increase the blocksize", + "Whether or not to censor certain transactions", + "Whether or not to change the consensus algorithm to proof of stake" + ], + "feedback": [ + "Correct. The users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network, showing that Bitcoin is controlled by users, not corporations", + "Not quite. Both sides were publicly in favor of preserving censorship-resistance, however companies in the Bitcoin ecosystem were willing to accept some centralization in exchange for quick wins in scalability. Try again", + "Haha, but no. While there are some dubious voices that demand the abolishment of proof of work in favor of proof of stake, this was never a debate in Bitcoin, and never will be. Try again." + ], + "id": "blocksizeWars", + "question": "What was the contention in the Blocksize Wars", + "text": "These drawbacks lead to a debate within the Bitcoin community about the best way to scale the Bitcoin network, often dubbed the Blocksize Wars.\n\nCompanies in the Bitcoin ecosystem argued that increasing the blocksize, which is the maximum size of a block of transactions on the blockchain, would allow more transactions to be processed per second, making the network more efficient and able to handle a larger volume of transactions.\n\nBitcoin users on the other side of the debate argued that increasing the blocksize would centralize the network, as it would require more expensive and powerful computers to process the larger blocks, and could potentially lead to Bitcoin becoming prone to censorship.\n\nThe users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network and demonstrated that Bitcoin is controlled by users, not corporations. This also meant that scaling Bitcoin would require a different enigneering solution than merely increasing the blocksize.\n", + "title": "The Blocksize Wars", + "type": "Text" +} diff --git a/chapter-401-lightning-network/401.03-lesson-lightning-network.json b/chapter-401-lightning-network/401.03-lesson-lightning-network.json new file mode 100644 index 0000000..3aea440 --- /dev/null +++ b/chapter-401-lightning-network/401.03-lesson-lightning-network.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "It allows users to make small, near instant payments at low cost", + "It helps users preserve the decentralization of the Bitcoin network", + "It ensures that every transaction is added to the Bitcoin blockchain" + ], + "feedback": [ + "Correct! The Lightning Network allows users to make small, near instant payments at low cost, and it eliminates the need for every transaction to be added to the Bitcoin blockchain. Congrats! As a fun fact, the Lightning Network has helped increase the adoption of Bitcoin by allowing it to process more transactions per second and handle higher volumes of transactions", + "Incorrect! The Lightning Network is actually a scaling solution built on top of the Bitcoin protocol. Try again", + "Incorrect! The Lightning Network actually eliminates the need for every transaction to be added to the Bitcoin blockchain, as it allows for smaller payments to be made off-chain." + ], + "id": "lightningNetwork", + "question": "What does the Lightning Network do", + "text": "While users prevailed and preserved the decentralization of the Bitcoin network, a solution to scale Bitcoin proposed by researchers Tadge Dryja and Joseph Poon, called the Lightning Network, started to gain traction and was launched in 2017.\n\nThe Lightning Network, often referred to as just Lightning or LN, is a scaling solution built on top of the Bitcoin protocol. It facilitates smaller, near instant payments between users at very low cost and eliminates the need for every transaction to be added to the Bitcoin blockchain whilst ensuring that the value being transacted abides by the rules of the Bitcoin network.\n", + "title": "The Lightning Network", + "type": "Text" +} diff --git a/chapter-401-lightning-network/401.04-lesson-instant-payments.json b/chapter-401-lightning-network/401.04-lesson-instant-payments.json new file mode 100644 index 0000000..7b3df91 --- /dev/null +++ b/chapter-401-lightning-network/401.04-lesson-instant-payments.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A matter of seconds", + "10 minutes", + "1 hour" + ], + "feedback": [ + "Correct! This makes the Lightning Network a great option for situations where you need to make a payment immediately, such as retail transactions or peer-to-peer payments", + "Incorrect! On the Bitcoin network, transactions are grouped into blocks that are added to the blockchain about every 10 minutes. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure. Try again", + "Incorrect! On the Bitcoin network, payments are considered secure after they have been confirmed by six blocks, or about an hour. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure." + ], + "id": "instantPayments", + "question": "How long does it take for a payment to be considered secure on the Lightning Network", + "text": "In the Bitcoin network, transactions are grouped together in blocks, and new blocks are added to the blockchain about every 10 minutes. When a payment is made using Bitcoin, it is considered secure after it has been confirmed by six blocks, or about an hour.\n\nOn the Lightning Network, payments do not have to wait for block confirmations to be considered secure. Instead, they are instant and completed all at once in a matter of few seconds.\n\nThis makes it possible to use the Lightning Network for retail transactions, peer-to-peer payments, or any other situation where you need to make a payment immediately.\n", + "title": "Instant Payments", + "type": "Text" +} diff --git a/chapter-401-lightning-network/401.05-lesson-micro-payments.json b/chapter-401-lightning-network/401.05-lesson-micro-payments.json new file mode 100644 index 0000000..07f9161 --- /dev/null +++ b/chapter-401-lightning-network/401.05-lesson-micro-payments.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A payment for a small amount of money, often less than a dollar", + "A payment that requires a minimum amount and fixed fee", + "A payment made using the Lightning Network" + ], + "feedback": [ + "Exactly! These types of payments can be difficult to make using traditional financial systems or the Bitcoin network, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical", + "Nope**.** While traditional financial systems may require a minimum amount and fixed fee for payments, the Lightning Network allows for the possibility of making very small payments without these limitations", + "Not quite! While the Lightning Network does allow for the possibility of making micropayments, a micropayment is not defined as a payment made using the Lightning Network. Try again!" + ], + "id": "micropayments", + "question": "What is a micropayment", + "text": "Micropayments refer to very small financial transactions, often for amounts less than a dollar. These types of payments can be difficult to make using traditional financial systems, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical.\n\nThe Lightning Network allows for the possibility of making micropayments using Bitcoin. It enables users to send very small amounts of Bitcoin, down to 1 sat, without the risk of losing control of their funds to a third party (called \"custodial risk\"). \n\nIn contrast, the Bitcoin blockchain currently has minimum transaction amounts and fees that make micropayments impractical. The Lightning Network allows for minimal payments denominated in Bitcoin, using actual Bitcoin transactions. This opens up the possibility of creating new markets and making small payments more practical.\n", + "title": "Micropayments", + "type": "Text" +} diff --git a/chapter-401-lightning-network/401.06-lesson-scalability.json b/chapter-401-lightning-network/401.06-lesson-scalability.json new file mode 100644 index 0000000..1d76e12 --- /dev/null +++ b/chapter-401-lightning-network/401.06-lesson-scalability.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "To meet the demand for retail and automated payments", + "To make Bitcoin more attractive to investors", + "To get the required licences for interoperability with financial institutions" + ], + "feedback": [ + "That's right. The Lightning Network helps the Bitcoin network achieve scalability by allowing users to conduct nearly unlimited transactions off-chain on a second layer", + "That's not it! While improving the attractiveness of Bitcoin to investors could be a benefit of improving scalability, it is not the main reason why scalability is important for the Bitcoin network", + "Try again! **** Obtaining required licenses for interoperability with financial institutions may be a goal for some organizations working with Bitcoin, but it is not directly related to the concept of scalability." + ], + "id": "scalability", + "question": "Why is scalability important for the Bitcoin network", + "text": "Scalability refers to the ability of a system, such as a network or platform, to handle a large amount of usage or traffic without experiencing issues or slowdowns.\n\nScalability is important for Bitcoin because the network will need to be able to support a much higher volume of transactions in order to meet the demand of retail and automated payments.\n\nThe Lightning Network allows users to conduct nearly unlimited transactions between each other outside of the Bitcoin blockchain, or off-chain.\n\nThis means that transactions can be conducted without the need for each one to be recorded on the blockchain, which helps to reduce the load on the network and allows it to handle more transactions.\n", + "title": "Scalability", + "type": "Text" +} diff --git a/chapter-401-lightning-network/401.07-lesson-payment-channels.json b/chapter-401-lightning-network/401.07-lesson-payment-channels.json new file mode 100644 index 0000000..b0253fd --- /dev/null +++ b/chapter-401-lightning-network/401.07-lesson-payment-channels.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "By pushing bitcoin from one side of the channel to the other each time a payment is made", + "By broadcasting every transaction immediately to the Bitcoin blockchain as soon as it happens", + "By paying a commission to a 3rd party payment provider" + ], + "feedback": [ + "That's right! Think of moving bitcoin in a Lightning channel like moving beads on an abacus. Each side keeps track of how much is on their side until it's time to settle on the Bitcoin blockchain. Good job", + "Quite the opposite! Payment channels in Lightning avoid broadcasting every transaction by aggregating them. Try again", + "Uhm no, actually payments in Lightning Network save the users fees for not settling every transaction on the blockchain. Try again!" + ], + "id": "paymentChannels", + "question": "How do payment channels in the Lightning Network allow users to pay each other", + "text": "The Lightning Network consists of thousands of two party payment channels.\n\nYou may think of a Lightning channel like opening a tab at your local bar. Instead of pulling out your wallet and paying each time you order a drink, it makes sense to save time, energy and fees by tallying all your drinks together at the end of the night and making the final settlement in one payment.\n\nLightning works similar. Each time a payment is made from person A to person B, bitcoin are pushed from one side of the channel to the other. Two users can pay one another back and forth as many times as they like, almost instantly and with close to no fees.\n", + "title": "How does Lighning work?", + "type": "Text" +} diff --git a/chapter-401-lightning-network/401.08-lesson-routing.json b/chapter-401-lightning-network/401.08-lesson-routing.json new file mode 100644 index 0000000..972bd0c --- /dev/null +++ b/chapter-401-lightning-network/401.08-lesson-routing.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "By using a network of intermediaries to route payments between users", + "By using teleportation to instantly transfer bitcoin from one user to another", + "By using a virtual reality simulation to simulate the transfer of bitcoin between users" + ], + "feedback": [ + "Correct! This is like delivering a package from one person to another by passing it along a series of friendly postmen! Congrats", + "Hah no, this isn't science-fiction from Star Trek, but real world cryptographic engineering! Try again", + "May I interest you for a simulation of a simulation? Jokes aside, this isn't it. Try again!" + ], + "id": "routing", + "question": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel", + "text": "You may be thinking that setting up a payment channel with hundreds of businesses could be tedious, but no. The beauty of the Lightning Network is that it is a network of channels stitched together.\n\nLet us say Bob convinced his friend Carol to also join the Lightning Network. Alice has a channel with Bob, and Bob has a channel with Carol. Alice and Carol can then pay each other by “routing” through Bob.\n\nSome pretty clever cryptographic tricks guarantee that Bob cannot steal the money while it’s passing through him.\n\nWhen you make a payment on the Lightning Network, your node searches for a path of channels between you and your destination. This is what’s referred to as routing. This is of course all done automatically by the involved Lightning nodes, enabling it to happen in the blink of an eye.\n", + "title": "Routing", + "type": "Text" +} diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json b/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json new file mode 100644 index 0000000..ff0061d --- /dev/null +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "It has consistently gone up", + "It has consistently gone down", + "It has gone up and down randomly" + ], + "feedback": [ + "Well done! You seem to have a good grasp on the overall trend of bitcoin's exchange rate. Despite some fluctuations, it has consistently been on the rise. Keep up the good work", + "I'm sorry, that's not quite right. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been consistently downward. Try again", + "Sorry, that's incorrect. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been completely random. Keep trying!" + ], + "id": "itsaBubble", + "question": "How has the exchange rate of bitcoin trended over time", + "text": "Over the years, bitcoin has often been called a bubble by various people. While its price has had several significant declines that may have warranted this label, the overall trend for bitcoin has been consistently upward.\n\nCritics who have proclaimed the death of bitcoin after each market cycle have been proven wrong, as the nascent digital money has continued to thrive despite their predictions. As these critics run out of analogies to use, it has become clear that their accusations are unfounded.\n", + "title": "Is bitcoin a bubble?", + "type": "Text" + }, + { + "answers": [ + "Buyers and sellers reaching agreements in real-time", + "Government intervention", + "The phase of the moon" + ], + "feedback": [ + "You're correct! The primary factor influencing the volatility of bitcoin's price is actually the agreements reached in real-time between buyers and sellers", + "I'm sorry, that's not quite right. While government intervention can certainly affect the price of bitcoin, it is not the primary factor influencing its volatility", + "Sorry, that's incorrect. While the phase of the moon may have some strange effects on certain things, it does not play a significant role in the volatility of bitcoin's exchange rate. Keep trying!" + ], + "id": "itstooVolatile", + "question": "What is the primary factor influencing the volatility of bitcoin's exchange rate", + "text": "It is subjective to expect bitcoin to maintain a specific price range, as it is traded around the clock, every day of the year, across the world. There are no requirements for registration, bank holidays, circuit breakers, or bailouts in the bitcoin market, which operates as a truly free market.\n\nAny and all volatility in bitcoin's price is the result of buyers and sellers reaching agreements in real-time without interference from governments. As bitcoin continues its journey towards becoming a primary global store of value in the Information Age, it is unrealistic to assume that its progress would be linear.\n\nAs adoption of bitcoin increases, it becomes less risky and potential upside decreases, leading to a decrease in volatility.\n", + "title": "It's too volatile!", + "type": "Text" + }, + { + "answers": [ + "The credibility of its monetary properties", + "Rarity", + "The color purple" + ], + "feedback": [ + "Spot on! According to Parker Lewis, the only thing that backs any money is the credibility of its monetary properties", + "That's not quite right. While rarity can certainly contribute to the value of money, it is not the only thing that backs it. Try again", + "That's incorrect. While the color purple may be a beautiful and regal choice for a currency, it does not actually play a role in backing money." + ], + "id": "itsnotBacked", + "question": "What is the only thing that backs any money, according to Parker Lewis", + "text": "The idea of backed money is contradictory, as the backing itself would then be considered money. Part of the value of money comes from its rarity. Bitcoin does not need to be backed by something else that is rare because it is inherently scarce.\n\nVerifiable and auditable through independent means, bitcoin is free of counterparty risk. There is no third party that must be trusted to keep and secure commodities or assets. If anything, it is possible that the future will be backed by bitcoin.\n\nAs Parker Lewis stated, \"Ultimately, bitcoin is backed by something, and it's the only thing that backs any money: the credibility of its monetary properties.\"\n", + "title": "Should money be backed by something?", + "type": "Text" + }, + { + "answers": [ + "No, it is not possible for bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Yes, it is possible that bitcoin could become obsolete if a more secure or widely used digital monetary network is developed.", + "that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that" + ], + "feedback": [ + "bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Well, you're not wrong about that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that", + "Uh oh, looks like you're playing it safe but not quite hitting the mark. While it's true that no one can predict the future, it's pretty clear that bitcoin has a solid grip on the digital monetary network game. Try again." + ], + "id": "willbecomeObsolete", + "question": "Is it possible that bitcoin becomes obsolete one day", + "text": "Bitcoin represents a unique discovery of absolute scarcity, similar to the discovery of fire, electricity, or the field of mathematics.\n\nIt is not logical or possible to compete with bitcoin in terms of scarcity, as there is no level of scarcity higher than absolute scarcity. Criticisms of bitcoin's perceived limitations or drawbacks assume that there are no trade-offs in terms of security and incentive design, or that bitcoin's current form does not already provide significant benefits to millions of users.\n\nAs a rapidly growing, unrestricted network with a 99.98% uptime over more than a decade, having processed trillions of dollars in value and secured by billions of dollars in hardware, it is unlikely that bitcoin will be displaced as the dominant digital monetary network at this point.\n\nAs Michael Saylor stated, \"There's never been an example of a $100B monster digital network that was vanquished once it got to that dominant position.\"\n", + "title": "Will bitcoin become obsolete one day?", + "type": "Text" + }, + { + "answers": [ + "It helps to even out the distribution of energy consumption around the world.", + "It increases the distribution of energy consumption around the world.", + "It decreases the distribution of energy consumption around the world." + ], + "feedback": [ + "You got it right. Did you know that bitcoin's fixed energy price helps to incentivize the use of renewable energy sources in areas where they may not have been economically viable before", + "Well, I see you're a fan of chaos and global energy inequality, but this answer is wrong", + "Looks like you're trying to save the world one energy imbalance at a time. This answer is clearly incorrect." + ], + "id": "toomuchEnergy", + "question": "How does bitcoin impact global energy consumption", + "text": "Bitcoin is a decentralized digital currency that is accessible to users around the world and is resistant to censorship due to its Proof of Work mechanism.\n\nWith an estimated four billion people currently living under authoritarianism, bitcoin provides a way for individuals to send, receive, save, and transport wealth. It is important to consider the amount of energy that a monetary network like this should consume and to carefully evaluate who is best equipped to make decisions about this.\n\nOne way to think about the impact of bitcoin on global energy consumption is to imagine a topographic map of the world, with local electricity costs represented by the peaks and troughs. Adding bitcoin to the mix is like pouring a glass of water over the map - it settles in the troughs, smoothing them out. This is because bitcoin is a global buyer of energy at a fixed price, which helps to even out the distribution of energy consumption around the world.\n", + "title": "Is bitcoin's energy consumption excessive?", + "type": "Text" + }, + { + "answers": [ + "By using it to power onsite equipment that generates hashes to produce bitcoin", + "By selling it on the bitcoin market", + "By creating a new form of renewable energy" + ], + "feedback": [ + "Congratulations! You've correctly identified the use of excess energy in bitcoin mining. Did you know that this process can be done in any location, even in areas where there is no local demand for the energy being generated", + "I see you're a fan of making money through unconventional means. Too bad that's not what this lesson is about. Try again", + "It looks like you're trying to save the world one renewable energy source at a time. While that's admirable, unfortunately that's not the right answer." + ], + "id": "strandedEnergy", + "question": "How can excess energy be used through bitcoin mining", + "text": "Exactly**.** Bitcoin mining provides a portable solution for utilizing energy assets in regions where there is no local demand or means of transportation. By using onsite equipment to generate hashes, it is possible to produce bitcoin, which can then be held for future value appreciation or sold on the highly liquid and globally accessible bitcoin market.\n", + "title": "Wait, are you telling me that bitcoin can be used to tap into stranded energy?", + "type": "Text" + } + ], + "meta": { + "id": "BitcoinCriticisms&FallaciesI", + "title": "Bitcoin Criticisms & Fallacies I" + } +} diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501-es-combined.json b/chapter-501-bitcoin-criticisms-fallacies-i/501-es-combined.json new file mode 100644 index 0000000..f9c79aa --- /dev/null +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501-es-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "Ha aumentado constantemente", + "Ha bajado constantemente", + "Ha subido y bajado aleatoriamente" + ], + "feedback": [ + "\u00a1Bien hecho! Parece tener una buena comprensi\u00f3n de la tendencia general del tipo de cambio de bitcoin. A pesar de algunas fluctuaciones, ha ido aumentando constantemente. Sigan con el buen trabajo", + "Lo siento, eso no est\u00e1 del todo bien. Si bien el tipo de cambio de bitcoin ciertamente ha tenido altibajos, la tendencia general no ha sido consistentemente a la baja. Intentar otra vez", + "Lo siento, eso es incorrecto. Si bien el tipo de cambio de bitcoin ciertamente ha tenido altibajos, la tendencia general no ha sido completamente aleatoria. \u00a1Sigue intent\u00e1ndolo!" + ], + "id": "esunaburbuja", + "question": "\u00bfC\u00f3mo ha evolucionado el tipo de cambio de bitcoin a lo largo del tiempo?", + "text": "A lo largo de los a\u00f1os, varias personas han llamado a Bitcoin una burbuja. Si bien su precio ha tenido varias ca\u00eddas significativas que pueden haber justificado esta etiqueta, la tendencia general de bitcoin ha sido consistentemente alcista.\n\nSe ha demostrado que los cr\u00edticos que han proclamado la muerte de bitcoin despu\u00e9s de cada ciclo de mercado estaban equivocados, ya que el naciente dinero digital ha seguido prosperando a pesar de sus predicciones. A medida que a estos cr\u00edticos se les acaban las analog\u00edas que utilizar, ha quedado claro que sus acusaciones son infundadas.\n", + "title": "\u00bfBitcoin es una burbuja?", + "type": "Texto" + }, + { + "answers": [ + "Compradores y vendedores llegando a acuerdos en tiempo real", + "Intervenci\u00f3n gubernamental", + "La fase de la luna." + ], + "feedback": [ + "\u00a1Est\u00e1s en lo correcto! El principal factor que influye en la volatilidad del precio de bitcoin son en realidad los acuerdos alcanzados en tiempo real entre compradores y vendedores.", + "Lo siento, eso no est\u00e1 del todo bien. Si bien la intervenci\u00f3n gubernamental ciertamente puede afectar el precio de bitcoin, no es el factor principal que influye en su volatilidad.", + "Lo siento, eso es incorrecto. Si bien la fase de la luna puede tener algunos efectos extra\u00f1os en ciertas cosas, no juega un papel significativo en la volatilidad del tipo de cambio de bitcoin. \u00a1Sigue intent\u00e1ndolo!" + ], + "id": "es demasiado vol\u00e1til", + "question": "\u00bfCu\u00e1l es el principal factor que influye en la volatilidad del tipo de cambio de bitcoin?", + "text": "Es subjetivo esperar que Bitcoin mantenga un rango de precios espec\u00edfico, ya que se comercializa las 24 horas del d\u00eda, todos los d\u00edas del a\u00f1o, en todo el mundo. No existen requisitos de registro, d\u00edas festivos, disyuntores ni rescates en el mercado de bitcoin, que opera como un mercado verdaderamente libre.\n\nToda la volatilidad en el precio de bitcoin es el resultado de que compradores y vendedores llegan a acuerdos en tiempo real sin interferencia de los gobiernos. A medida que bitcoin contin\u00faa su camino hacia convertirse en una importante reserva global de valor en la era de la informaci\u00f3n, no es realista suponer que su progreso sea lineal.\n\nA medida que aumenta la adopci\u00f3n de bitcoin, se vuelve menos riesgoso y las posibles ventajas disminuyen, lo que lleva a una disminuci\u00f3n de la volatilidad.\n", + "title": "\u00a1Es demasiado vol\u00e1til!", + "type": "Texto" + }, + { + "answers": [ + "La credibilidad de sus propiedades monetarias.", + "Rareza", + "El color morado" + ], + "feedback": [ + "\u00a1Correcto! Seg\u00fan Parker Lewis, lo \u00fanico que respalda cualquier dinero es la credibilidad de sus propiedades monetarias.", + "Eso no es del todo bien. Si bien la rareza ciertamente puede contribuir al valor del dinero, no es lo \u00fanico que lo respalda. Intentar otra vez", + "Eso es incorrecto. Si bien el color p\u00farpura puede ser una opci\u00f3n hermosa y majestuosa para una moneda, en realidad no desempe\u00f1a un papel en el respaldo del dinero." + ], + "id": "no est\u00e1 respaldado", + "question": "\u00bfQu\u00e9 es lo \u00fanico que respalda el dinero, seg\u00fan Parker Lewis?", + "text": "La idea de dinero respaldado es contradictoria, ya que el respaldo en s\u00ed mismo se considerar\u00eda dinero. Parte del valor del dinero proviene de su rareza. Bitcoin no necesita estar respaldado por algo m\u00e1s que sea raro porque es inherentemente escaso.\n\nVerificable y auditable a trav\u00e9s de medios independientes, bitcoin est\u00e1 libre de riesgo de contraparte. No existe ning\u00fan tercero en quien se deba confiar para mantener y proteger los productos o activos. En todo caso, es posible que el futuro est\u00e9 respaldado por bitcoin.\n\nComo afirm\u00f3 Parker Lewis: \"En \u00faltima instancia, bitcoin est\u00e1 respaldado por algo, y es lo \u00fanico que respalda cualquier dinero: la credibilidad de sus propiedades monetarias\".\n", + "title": "\u00bfDeber\u00eda el dinero estar respaldado por algo?", + "type": "Texto" + }, + { + "answers": [ + "No, no es posible que bitcoin quede obsoleto porque representa escasez absoluta y tiene una posici\u00f3n dominante en el mercado.", + "S\u00ed, es posible que bitcoin quede obsoleto si se desarrolla una red monetaria digital m\u00e1s segura o ampliamente utilizada.", + "eso, pero seamos realistas: \u00bfqui\u00e9n va a inventar una moneda digital que sea m\u00e1s escasa que la escasez absoluta? Eso es como intentar inventar un c\u00edrculo que sea m\u00e1s redondo que redondo. Buena suerte con eso" + ], + "feedback": [ + "Bitcoin se vuelva obsoleto porque representa una escasez absoluta y tiene una posici\u00f3n dominante en el mercado.", + "Bueno, no te equivocas en eso, pero seamos realistas: \u00bfqui\u00e9n va a inventar una moneda digital que sea m\u00e1s escasa que la escasez absoluta? Eso es como intentar inventar un c\u00edrculo que sea m\u00e1s redondo que redondo. Buena suerte con eso", + "Uh oh, parece que est\u00e1s yendo a lo seguro pero no has dado en el blanco. Si bien es cierto que nadie puede predecir el futuro, est\u00e1 bastante claro que bitcoin tiene un control s\u00f3lido en el juego de las redes monetarias digitales. Intentar otra vez." + ], + "id": "se volver\u00e1 obsoleto", + "question": "\u00bfEs posible que bitcoin se quede obsoleto alg\u00fan d\u00eda?", + "text": "Bitcoin representa un descubrimiento \u00fanico de escasez absoluta, similar al descubrimiento del fuego, la electricidad o el campo de las matem\u00e1ticas.\n\nNo es l\u00f3gico ni posible competir con bitcoin en t\u00e9rminos de escasez, ya que no existe un nivel de escasez superior a la escasez absoluta. Las cr\u00edticas a las limitaciones o inconvenientes percibidos de Bitcoin suponen que no hay compensaciones en t\u00e9rminos de seguridad y dise\u00f1o de incentivos, o que la forma actual de Bitcoin no proporciona beneficios significativos a millones de usuarios.\n\nComo red sin restricciones y de r\u00e1pido crecimiento con un tiempo de actividad del 99,98% durante m\u00e1s de una d\u00e9cada, habiendo procesado billones de d\u00f3lares en valor y asegurada por miles de millones de d\u00f3lares en hardware, es poco probable que Bitcoin sea desplazado como la red monetaria digital dominante en este momento. punto.\n\nComo afirm\u00f3 Michael Saylor: \"Nunca ha habido un ejemplo de una red digital monstruosa de 100.000 millones de d\u00f3lares que haya sido vencida una vez que alcanz\u00f3 esa posici\u00f3n dominante\".\n", + "title": "\u00bfBitcoin quedar\u00e1 obsoleto alg\u00fan d\u00eda?", + "type": "Texto" + }, + { + "answers": [ + "Ayuda a nivelar la distribuci\u00f3n del consumo de energ\u00eda en todo el mundo.", + "Aumenta la distribuci\u00f3n del consumo de energ\u00eda en todo el mundo.", + "Disminuye la distribuci\u00f3n del consumo de energ\u00eda en todo el mundo." + ], + "feedback": [ + "Lo hiciste bien. \u00bfSab\u00edas que el precio fijo de la energ\u00eda de Bitcoin ayuda a incentivar el uso de fuentes de energ\u00eda renovables en \u00e1reas donde antes no eran econ\u00f3micamente viables?", + "Bueno, veo que eres fan\u00e1tico del caos y la desigualdad energ\u00e9tica global, pero esta respuesta es incorrecta.", + "Parece que est\u00e1s intentando salvar al mundo con un desequilibrio energ\u00e9tico a la vez. Esta respuesta es claramente incorrecta." + ], + "id": "demasiada energ\u00eda", + "question": "\u00bfC\u00f3mo impacta bitcoin en el consumo global de energ\u00eda?", + "text": "Bitcoin es una moneda digital descentralizada a la que pueden acceder usuarios de todo el mundo y resistente a la censura gracias a su mecanismo de prueba de trabajo.\n\nCon aproximadamente cuatro mil millones de personas que viven actualmente bajo el autoritarismo, bitcoin proporciona una forma para que las personas env\u00eden, reciban, ahorren y transporten riqueza. Es importante considerar la cantidad de energ\u00eda que deber\u00eda consumir una red monetaria como esta y evaluar cuidadosamente qui\u00e9n est\u00e1 mejor equipado para tomar decisiones al respecto.\n\nUna forma de pensar en el impacto de bitcoin en el consumo global de energ\u00eda es imaginar un mapa topogr\u00e1fico del mundo, con los costos locales de electricidad representados por los picos y los valles. Agregar bitcoin a la mezcla es como verter un vaso de agua sobre el mapa: se asienta en los canales, alis\u00e1ndolos. Esto se debe a que bitcoin es un comprador global de energ\u00eda a un precio fijo, lo que ayuda a igualar la distribuci\u00f3n del consumo de energ\u00eda en todo el mundo.\n", + "title": "\u00bfEs excesivo el consumo de energ\u00eda de bitcoin?", + "type": "Texto" + }, + { + "answers": [ + "Utiliz\u00e1ndolo para alimentar equipos en el sitio que generan hashes para producir bitcoins.", + "Vendi\u00e9ndolo en el mercado de bitcoins.", + "Creando una nueva forma de energ\u00eda renovable" + ], + "feedback": [ + "\u00a1Felicidades! Has identificado correctamente el uso del exceso de energ\u00eda en la miner\u00eda de bitcoins. \u00bfSab\u00edas que este proceso se puede realizar en cualquier lugar, incluso en \u00e1reas donde no existe demanda local para la energ\u00eda que se genera?", + "Veo que eres fan\u00e1tico de ganar dinero por medios no convencionales. L\u00e1stima que esta lecci\u00f3n no se trata de eso. Intentar otra vez", + "Parece que est\u00e1s intentando salvar al mundo una fuente de energ\u00eda renovable a la vez. Si bien esto es admirable, lamentablemente no es la respuesta correcta." + ], + "id": "varadoEnerg\u00eda", + "question": "\u00bfC\u00f3mo se puede utilizar el exceso de energ\u00eda mediante la miner\u00eda de bitcoins?", + "text": "Exactamente**.** La miner\u00eda de Bitcoin proporciona una soluci\u00f3n port\u00e1til para utilizar activos energ\u00e9ticos en regiones donde no hay demanda local ni medios de transporte. Al utilizar equipos in situ para generar hashes, es posible producir bitcoins, que luego pueden conservarse para una apreciaci\u00f3n futura de su valor o venderse en el mercado de bitcoins, de gran liquidez y acceso global.\n", + "title": "Espera, \u00bfme est\u00e1s diciendo que bitcoin se puede utilizar para aprovechar la energ\u00eda estancada?", + "type": "Texto" + } + ], + "meta": { + "id": "BitcoinCr\u00edticas y falaciasI", + "title": "Cr\u00edticas y falacias de Bitcoin I" + } +} \ No newline at end of file diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.01-lesson-its-a-bubble.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.01-lesson-its-a-bubble.json new file mode 100644 index 0000000..168c760 --- /dev/null +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.01-lesson-its-a-bubble.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "It has consistently gone up", + "It has consistently gone down", + "It has gone up and down randomly" + ], + "feedback": [ + "Well done! You seem to have a good grasp on the overall trend of bitcoin's exchange rate. Despite some fluctuations, it has consistently been on the rise. Keep up the good work", + "I'm sorry, that's not quite right. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been consistently downward. Try again", + "Sorry, that's incorrect. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been completely random. Keep trying!" + ], + "id": "itsaBubble", + "question": "How has the exchange rate of bitcoin trended over time", + "text": "Over the years, bitcoin has often been called a bubble by various people. While its price has had several significant declines that may have warranted this label, the overall trend for bitcoin has been consistently upward.\n\nCritics who have proclaimed the death of bitcoin after each market cycle have been proven wrong, as the nascent digital money has continued to thrive despite their predictions. As these critics run out of analogies to use, it has become clear that their accusations are unfounded.\n", + "title": "Is bitcoin a bubble?", + "type": "Text" +} diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.02-lesson-its-too-volatile.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.02-lesson-its-too-volatile.json new file mode 100644 index 0000000..e60114a --- /dev/null +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.02-lesson-its-too-volatile.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Buyers and sellers reaching agreements in real-time", + "Government intervention", + "The phase of the moon" + ], + "feedback": [ + "You're correct! The primary factor influencing the volatility of bitcoin's price is actually the agreements reached in real-time between buyers and sellers", + "I'm sorry, that's not quite right. While government intervention can certainly affect the price of bitcoin, it is not the primary factor influencing its volatility", + "Sorry, that's incorrect. While the phase of the moon may have some strange effects on certain things, it does not play a significant role in the volatility of bitcoin's exchange rate. Keep trying!" + ], + "id": "itstooVolatile", + "question": "What is the primary factor influencing the volatility of bitcoin's exchange rate", + "text": "It is subjective to expect bitcoin to maintain a specific price range, as it is traded around the clock, every day of the year, across the world. There are no requirements for registration, bank holidays, circuit breakers, or bailouts in the bitcoin market, which operates as a truly free market.\n\nAny and all volatility in bitcoin's price is the result of buyers and sellers reaching agreements in real-time without interference from governments. As bitcoin continues its journey towards becoming a primary global store of value in the Information Age, it is unrealistic to assume that its progress would be linear.\n\nAs adoption of bitcoin increases, it becomes less risky and potential upside decreases, leading to a decrease in volatility.\n", + "title": "It's too volatile!", + "type": "Text" +} diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.03-lesson-its-not-backed.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.03-lesson-its-not-backed.json new file mode 100644 index 0000000..22d7bf7 --- /dev/null +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.03-lesson-its-not-backed.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The credibility of its monetary properties", + "Rarity", + "The color purple" + ], + "feedback": [ + "Spot on! According to Parker Lewis, the only thing that backs any money is the credibility of its monetary properties", + "That's not quite right. While rarity can certainly contribute to the value of money, it is not the only thing that backs it. Try again", + "That's incorrect. While the color purple may be a beautiful and regal choice for a currency, it does not actually play a role in backing money." + ], + "id": "itsnotBacked", + "question": "What is the only thing that backs any money, according to Parker Lewis", + "text": "The idea of backed money is contradictory, as the backing itself would then be considered money. Part of the value of money comes from its rarity. Bitcoin does not need to be backed by something else that is rare because it is inherently scarce.\n\nVerifiable and auditable through independent means, bitcoin is free of counterparty risk. There is no third party that must be trusted to keep and secure commodities or assets. If anything, it is possible that the future will be backed by bitcoin.\n\nAs Parker Lewis stated, \"Ultimately, bitcoin is backed by something, and it's the only thing that backs any money: the credibility of its monetary properties.\"\n", + "title": "Should money be backed by something?", + "type": "Text" +} diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.04-lesson-will-become-obsolete.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.04-lesson-will-become-obsolete.json new file mode 100644 index 0000000..3f69973 --- /dev/null +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.04-lesson-will-become-obsolete.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "No, it is not possible for bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Yes, it is possible that bitcoin could become obsolete if a more secure or widely used digital monetary network is developed.", + "that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that" + ], + "feedback": [ + "bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Well, you're not wrong about that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that", + "Uh oh, looks like you're playing it safe but not quite hitting the mark. While it's true that no one can predict the future, it's pretty clear that bitcoin has a solid grip on the digital monetary network game. Try again." + ], + "id": "willbecomeObsolete", + "question": "Is it possible that bitcoin becomes obsolete one day", + "text": "Bitcoin represents a unique discovery of absolute scarcity, similar to the discovery of fire, electricity, or the field of mathematics.\n\nIt is not logical or possible to compete with bitcoin in terms of scarcity, as there is no level of scarcity higher than absolute scarcity. Criticisms of bitcoin's perceived limitations or drawbacks assume that there are no trade-offs in terms of security and incentive design, or that bitcoin's current form does not already provide significant benefits to millions of users.\n\nAs a rapidly growing, unrestricted network with a 99.98% uptime over more than a decade, having processed trillions of dollars in value and secured by billions of dollars in hardware, it is unlikely that bitcoin will be displaced as the dominant digital monetary network at this point.\n\nAs Michael Saylor stated, \"There's never been an example of a $100B monster digital network that was vanquished once it got to that dominant position.\"\n", + "title": "Will bitcoin become obsolete one day?", + "type": "Text" +} diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.05-lesson-too-much-energy.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.05-lesson-too-much-energy.json new file mode 100644 index 0000000..4ec2570 --- /dev/null +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.05-lesson-too-much-energy.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "It helps to even out the distribution of energy consumption around the world.", + "It increases the distribution of energy consumption around the world.", + "It decreases the distribution of energy consumption around the world." + ], + "feedback": [ + "You got it right. Did you know that bitcoin's fixed energy price helps to incentivize the use of renewable energy sources in areas where they may not have been economically viable before", + "Well, I see you're a fan of chaos and global energy inequality, but this answer is wrong", + "Looks like you're trying to save the world one energy imbalance at a time. This answer is clearly incorrect." + ], + "id": "toomuchEnergy", + "question": "How does bitcoin impact global energy consumption", + "text": "Bitcoin is a decentralized digital currency that is accessible to users around the world and is resistant to censorship due to its Proof of Work mechanism.\n\nWith an estimated four billion people currently living under authoritarianism, bitcoin provides a way for individuals to send, receive, save, and transport wealth. It is important to consider the amount of energy that a monetary network like this should consume and to carefully evaluate who is best equipped to make decisions about this.\n\nOne way to think about the impact of bitcoin on global energy consumption is to imagine a topographic map of the world, with local electricity costs represented by the peaks and troughs. Adding bitcoin to the mix is like pouring a glass of water over the map - it settles in the troughs, smoothing them out. This is because bitcoin is a global buyer of energy at a fixed price, which helps to even out the distribution of energy consumption around the world.\n", + "title": "Is bitcoin's energy consumption excessive?", + "type": "Text" +} diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.06-lesson-stranded-energy.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.06-lesson-stranded-energy.json new file mode 100644 index 0000000..168b431 --- /dev/null +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.06-lesson-stranded-energy.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "By using it to power onsite equipment that generates hashes to produce bitcoin", + "By selling it on the bitcoin market", + "By creating a new form of renewable energy" + ], + "feedback": [ + "Congratulations! You've correctly identified the use of excess energy in bitcoin mining. Did you know that this process can be done in any location, even in areas where there is no local demand for the energy being generated", + "I see you're a fan of making money through unconventional means. Too bad that's not what this lesson is about. Try again", + "It looks like you're trying to save the world one renewable energy source at a time. While that's admirable, unfortunately that's not the right answer." + ], + "id": "strandedEnergy", + "question": "How can excess energy be used through bitcoin mining", + "text": "Exactly**.** Bitcoin mining provides a portable solution for utilizing energy assets in regions where there is no local demand or means of transportation. By using onsite equipment to generate hashes, it is possible to produce bitcoin, which can then be held for future value appreciation or sold on the highly liquid and globally accessible bitcoin market.\n", + "title": "Wait, are you telling me that bitcoin can be used to tap into stranded energy?", + "type": "Text" +} diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json new file mode 100644 index 0000000..7b0ec3e --- /dev/null +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "By sending a transaction via SMS", + "By posting a message on a social media platform", + "By sending an email" + ], + "feedback": [ + "You've identified a way to send bitcoin transactions even when the internet is down. Good thinking", + "Well, it looks like you're trying to stay connected in the digital age even during an internet outage, but that's incorrect", + "I see you're trying to stay connected through traditional means, but unfortunately sending an email might not be the most reliable way to send bitcoin transactions during an internet outage. Try again!" + ], + "id": "internetDependent", + "question": "How can bitcoin transactions be sent in the event of an internet disruption", + "text": "There is a risk, of course, that internet access may be lost due to infrastructure failures, natural disasters, or intentional outages. However, it is possible to transact bitcoin using offline methods and other communication networks.\n\nFor instance, a signed bitcoin transaction can be transmitted to a single node and broadcast to the network for inclusion in a block by miners. There are various ways to do this, such as sending a transaction via SMS, using a physical wallet with a one-time use tamper-evident private key, or receiving blocks via satellite. These options allow for bitcoin to be used even in the event of an internet disruption.\n", + "title": "Bitcoin is too dependent on the Internet", + "type": "Text" + }, + { + "answers": [ + "No", + "Yes", + "It depends on the individual circumstances" + ], + "feedback": [ + "Well done! You've correctly identified that it is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.", + "I see you're a fan of sensational headlines and jumping to conclusions. Unfortunately, that's not based in reality", + "It looks like you're trying to take a balanced approach, but is not accurate to make this claim regardless of individual circumstances. Try again." + ], + "id": "forcrimeOnly", + "question": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity", + "text": "Bitcoin is a neutral tool for exchanging value, and it has no inherent beliefs, opinions, or values. Its meaning is determined by how it is used. It is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.\n\nCrime does not stem from access to tools, but rather from individual circumstances. If bitcoin is useful, it can be used by anyone, including criminals. If it is not useful, it cannot be used by anyone, including criminals.\n\nAs Parker Lewis stated, \"There is nothing inherent about the tools used to facilitate crimes that makes them criminal in themselves. Despite criminal use, no one is calling for the ban of roads, the internet, mail, etc.\"\n", + "title": "Bitcoin is for Criminals", + "type": "Text" + }, + { + "answers": [ + "It is a form of money", + "It is a ponzi scheme", + "It is an open-source investment scheme" + ], + "feedback": [ + "Congratulations! You've earned some sats for correctly identifying that bitcoin is a form of money. Did you know that bitcoin was the first decentralized digital currency to be created, and it operates without a central bank or single administrator", + "Ah hah! You fell for the old ponzi scheme trick! Just kidding, but seriously, that's not what bitcoin is", + "Nope, sorry! Bitcoin isn't an open-source investment scheme. But hey, at least you're learning about it, right?" + ], + "id": "ponziScheme", + "question": "Which of the following statements is true about bitcoin", + "text": "Calling bitcoin a ponzi scheme shows a lack of understanding of both bitcoin and the definition of a ponzi scheme. A ponzi scheme involves promises of above-market returns to investors, but as a permissionless network, bitcoin does not have a central authority that can make such promises.\n\nAdditionally, bitcoin is not an investment scheme, it is a form of money. Unlike opaque investment opportunities that may be promoted to unsuspecting individuals, bitcoin's code is open-source and its supply can be independently verified at all times.\n", + "title": "Bitcoin is a Ponzi Scheme", + "type": "Text" + }, + { + "answers": [ + "Credit card payments go through multiple parties before reaching the merchant, while bitcoin payments go directly to the recipient without intermediaries", + "Credit card payments are final once they are confirmed, while bitcoin payments can be reversed", + "but at least you're learning about bitcoin" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin payment mastery. You seem to understand that bitcoin operates without a central bank or single administrator", + "Uh oh, looks like you might have gotten the wrong answer, but at least you're learning about bitcoin", + "Nope, sorry! Credit card payments are being censored all the time, but good try. Keep learning about bitcoin!" + ], + "id": "bitcoinisTooSlow", + "question": "What is the main difference between paying with a credit card and paying with bitcoin on-chain", + "text": "Paying with bitcoin is not the same as using a credit card to make a purchase. When you use a credit card, your payment goes through multiple parties before reaching the merchant's bank account after days or even weeks of processing.\n\nIn contrast, when you pay with bitcoin on the main blockchain, you are sending actual money directly to the recipient without any intermediaries. This means there is no risk of censorship and the transaction is considered final once it has been confirmed by six blocks on the blockchain.\n\nThe proper comparison would be between bitcoin base layer and the Fed as currency issuer and as a clearing mechanism.\n\nSince the advent of the Lightning Network, the \"Bitcoin is too slow\" criticism has largely fallen silent.\n", + "title": "Bitcoin is too slow", + "type": "Text" + }, + { + "answers": [ + "Through a decentralized consensus process in which every transaction is independently validated by nodes on the network", + "Through a centralized process in which a single authority controls the issuance of new coins", + "By fixing the maximum supply at an arbitrary number, such as 100 million" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin supply mastery. Did you know that the decentralized nature of the bitcoin network allows for greater transparency, as every transaction is independently validated by nodes on the network", + "Nope, sorry! Bitcoin's supply isn't controlled by a central authority. Try again", + "Uh oh, looks like you might have gotten the wrong answer. The maximum supply of bitcoin is fixed at 21 million, not 100 million. But at least you're learning about bitcoin!" + ], + "id": "supplyLimit", + "question": "How is the supply of bitcoin protected from being corrupted", + "text": "Bitcoin's decentralized nature allows for its supply to be independently validated by each node on the network, ensuring that it cannot be corrupted. This is achieved through a consensus process in which every transaction that has been confirmed on the bitcoin network is independently validated.\n\nWhile anyone can fork the code and make changes to the rules, it is unlikely that this version of the code would be adopted by the wider network. The decentralized consensus process and the incorruptible supply of bitcoin are crucial to its appeal as a form of money.\n\nThe maximum supply of bitcoin is fixed at 21 million, and any attempt to increase this limit would require consensus from a significant portion of the bitcoin network, which is highly unlikely to happen.\n", + "title": "Bitcoin's Supply Limit Could Be Corrupted", + "type": "Text" + }, + { + "answers": [ + "No, because the decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Yes, by preventing the generation of random numbers", + "Yes, by shutting down the internet" + ], + "feedback": [ + "Correct. The decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Nope, silly! While it is technically possible for governments to ban bitcoin, it would be nearly impossible to enforce such a ban. Try again", + "Uh oh, looks like you might have gotten the wrong answer. Shutting down the internet wouldn't necessarily stop people from using bitcoin." + ], + "id": "governmentBan", + "question": "Can governments effectively ban bitcoin", + "text": "It is technically possible for governments to ban bitcoin, but enforcing such a ban would be difficult due to the decentralized nature of the bitcoin network.\n\nBitcoin relies on private keys, which are simply random numbers, to control access to transactions recorded on the blockchain. These private keys can be generated and stored anywhere, making them largely undectectable.\n\nAdditionally, the infrastructure required to access the bitcoin network is relatively simple and widely available, making it easy for people to trustlessly verify transactions.\n\nAs Saifedean Ammous said, \"Banning bitcoin is not much different from trying to ban math. It will just prove its utility & drive more people to it.\"\n", + "title": "Governments Will Ban Bitcoin", + "type": "Text" + } + ], + "meta": { + "id": "BitcoinCriticisms&FallaciesII", + "title": "Bitcoin Criticisms & Fallacies II" + } +} diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502-es-combined.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502-es-combined.json new file mode 100644 index 0000000..c496e92 --- /dev/null +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502-es-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "Enviando una transacci\u00f3n v\u00eda SMS", + "Publicando un mensaje en una plataforma de redes sociales.", + "Enviando un correo electr\u00f3nico" + ], + "feedback": [ + "Ha identificado una forma de enviar transacciones de bitcoins incluso cuando Internet no funciona. Buen pensamiento", + "Bueno, parece que est\u00e1s intentando mantenerte conectado en la era digital incluso durante un corte de Internet, pero eso es incorrecto.", + "Veo que est\u00e1s intentando mantenerte conectado a trav\u00e9s de medios tradicionales, pero desafortunadamente enviar un correo electr\u00f3nico puede no ser la forma m\u00e1s confiable de enviar transacciones de bitcoins durante una interrupci\u00f3n de Internet. \u00a1Intentar otra vez!" + ], + "id": "internetDependiente", + "question": "\u00bfC\u00f3mo se pueden enviar transacciones de bitcoins en caso de una interrupci\u00f3n de Internet?", + "text": "Por supuesto, existe el riesgo de que se pierda el acceso a Internet debido a fallas en la infraestructura, desastres naturales o cortes intencionales. Sin embargo, es posible realizar transacciones con bitcoins utilizando m\u00e9todos fuera de l\u00ednea y otras redes de comunicaci\u00f3n.\n\nPor ejemplo, una transacci\u00f3n de bitcoin firmada puede transmitirse a un solo nodo y transmitirse a la red para que los mineros la incluyan en un bloque. Hay varias formas de hacer esto, como enviar una transacci\u00f3n a trav\u00e9s de SMS, usar una billetera f\u00edsica con una clave privada de uso \u00fanico a prueba de manipulaciones o recibir bloques v\u00eda sat\u00e9lite. Estas opciones permiten el uso de bitcoins incluso en caso de una interrupci\u00f3n de Internet.\n", + "title": "Bitcoin depende demasiado de Internet", + "type": "Texto" + }, + { + "answers": [ + "No", + "S\u00ed", + "Depende de las circunstancias individuales." + ], + "feedback": [ + "\u00a1Bien hecho! Ha identificado correctamente que no es exacto afirmar que las propiedades de bitcoin han provocado un aumento general de la actividad delictiva.", + "Veo que eres fan\u00e1tico de los titulares sensacionalistas y de sacar conclusiones precipitadas. Desafortunadamente, eso no se basa en la realidad.", + "Parece que est\u00e1 intentando adoptar un enfoque equilibrado, pero no es exacto hacer esta afirmaci\u00f3n independientemente de las circunstancias individuales. Intentar otra vez." + ], + "id": "solo para el crimen", + "question": "\u00bfEs exacto afirmar que las propiedades de bitcoin han provocado un aumento general de la actividad delictiva?", + "text": "Bitcoin es una herramienta neutral para intercambiar valor y no tiene creencias, opiniones o valores inherentes. Su significado est\u00e1 determinado por c\u00f3mo se usa. No es exacto afirmar que las propiedades de bitcoin han llevado a un aumento general de la actividad criminal.\n\nLa delincuencia no surge del acceso a herramientas, sino de circunstancias individuales. Si bitcoin es \u00fatil, cualquiera puede usarlo, incluidos los delincuentes. Si no es \u00fatil, nadie puede utilizarlo, ni siquiera los delincuentes.\n\nComo afirm\u00f3 Parker Lewis: \"No hay nada inherente en las herramientas utilizadas para facilitar los delitos que los convierta en criminales en s\u00ed mismos. A pesar del uso criminal, nadie pide la prohibici\u00f3n de las carreteras, Internet, el correo, etc.\"\n", + "title": "Bitcoin es para criminales", + "type": "Texto" + }, + { + "answers": [ + "es una forma de dinero", + "es un esquema ponzi", + "Es un esquema de inversi\u00f3n de c\u00f3digo abierto." + ], + "feedback": [ + "\u00a1Felicidades! Obtuviste algunos sats por identificar correctamente que bitcoin es una forma de dinero. \u00bfSab\u00edas que bitcoin fue la primera moneda digital descentralizada que se cre\u00f3 y opera sin un banco central ni un administrador \u00fanico?", + "\u00a1Ah, ja! \u00a1Ca\u00edste en el viejo truco del esquema Ponzi! Es broma, pero en serio, eso no es lo que es bitcoin", + "\u00a1No, lo siento! Bitcoin no es un plan de inversi\u00f3n de c\u00f3digo abierto. Pero bueno, al menos est\u00e1s aprendiendo sobre esto, \u00bfverdad?" + ], + "id": "esquema ponzi", + "question": "\u00bfCu\u00e1l de las siguientes afirmaciones es cierta sobre bitcoin?", + "text": "Llamar a Bitcoin un esquema Ponzi muestra una falta de comprensi\u00f3n tanto de Bitcoin como de la definici\u00f3n de un esquema Ponzi. Un esquema Ponzi implica promesas de rendimientos superiores a los del mercado a los inversores, pero como red sin permiso, bitcoin no tiene una autoridad central que pueda hacer tales promesas.\n\nAdem\u00e1s, bitcoin no es un plan de inversi\u00f3n, es una forma de dinero. A diferencia de las oportunidades de inversi\u00f3n opacas que pueden promocionarse entre personas desprevenidas, el c\u00f3digo de bitcoin es de c\u00f3digo abierto y su suministro puede verificarse de forma independiente en todo momento.\n", + "title": "Bitcoin es un esquema Ponzi", + "type": "Texto" + }, + { + "answers": [ + "Los pagos con tarjeta de cr\u00e9dito pasan por varias partes antes de llegar al comerciante, mientras que los pagos con bitcoins van directamente al destinatario sin intermediarios.", + "Los pagos con tarjeta de cr\u00e9dito son definitivos una vez confirmados, mientras que los pagos con bitcoins se pueden revertir", + "pero al menos est\u00e1s aprendiendo sobre bitcoin" + ], + "feedback": [ + "\u00a1Felicidades! Has desbloqueado el m\u00e1ximo dominio en pagos con bitcoins. Parece comprender que Bitcoin opera sin un banco central ni un administrador \u00fanico.", + "Oh oh, parece que es posible que hayas recibido la respuesta equivocada, pero al menos est\u00e1s aprendiendo sobre bitcoin.", + "\u00a1No, lo siento! Los pagos con tarjeta de cr\u00e9dito est\u00e1n siendo censurados todo el tiempo, pero buen intento. \u00a1Sigue aprendiendo sobre bitcoin!" + ], + "id": "bitcoinisDemasiado lento", + "question": "\u00bfCu\u00e1l es la principal diferencia entre pagar con tarjeta de cr\u00e9dito y pagar con bitcoin en cadena?", + "text": "No es lo mismo pagar con bitcoin que utilizar una tarjeta de cr\u00e9dito para realizar una compra. Cuando utiliza una tarjeta de cr\u00e9dito, su pago pasa por varias partes antes de llegar a la cuenta bancaria del comerciante despu\u00e9s de d\u00edas o incluso semanas de procesamiento.\n\nPor el contrario, cuando pagas con bitcoin en la cadena de bloques principal, est\u00e1s enviando dinero real directamente al destinatario sin intermediarios. Esto significa que no hay riesgo de censura y la transacci\u00f3n se considera definitiva una vez que ha sido confirmada por seis bloques en la cadena de bloques.\n\nLa comparaci\u00f3n adecuada ser\u00eda entre la capa base de bitcoin y la Reserva Federal como emisor de moneda y como mecanismo de compensaci\u00f3n.\n\nDesde la llegada de Lightning Network, la cr\u00edtica de que \"Bitcoin es demasiado lento\" se ha silenciado en gran medida.\n", + "title": "Bitcoin es demasiado lento", + "type": "Texto" + }, + { + "answers": [ + "A trav\u00e9s de un proceso de consenso descentralizado en el que cada transacci\u00f3n es validada de forma independiente por nodos de la red.", + "A trav\u00e9s de un proceso centralizado en el que una \u00fanica autoridad controla la emisi\u00f3n de nuevas monedas.", + "Fijando la oferta m\u00e1xima en un n\u00famero arbitrario, como 100 millones" + ], + "feedback": [ + "\u00a1Felicidades! Has desbloqueado el m\u00e1ximo dominio en el suministro de bitcoins. \u00bfSab\u00edas que la naturaleza descentralizada de la red bitcoin permite una mayor transparencia, ya que cada transacci\u00f3n es validada de forma independiente por los nodos de la red?", + "\u00a1No, lo siento! El suministro de Bitcoin no est\u00e1 controlado por una autoridad central. Intentar otra vez", + "Oh oh, parece que es posible que hayas obtenido la respuesta incorrecta. La oferta m\u00e1xima de bitcoins se fija en 21 millones, no en 100 millones. \u00a1Pero al menos est\u00e1s aprendiendo sobre bitcoin!" + ], + "id": "l\u00edmite de suministro", + "question": "\u00bfC\u00f3mo se protege el suministro de bitcoins contra la corrupci\u00f3n?", + "text": "La naturaleza descentralizada de Bitcoin permite que cada nodo de la red valide su suministro de forma independiente, lo que garantiza que no pueda corromperse. Esto se logra mediante un proceso de consenso en el que cada transacci\u00f3n que se ha confirmado en la red bitcoin se valida de forma independiente.\n\nSi bien cualquiera puede bifurcar el c\u00f3digo y realizar cambios en las reglas, es poco probable que esta versi\u00f3n del c\u00f3digo sea adoptada por la red en general. El proceso de consenso descentralizado y el suministro incorruptible de bitcoin son cruciales para su atractivo como forma de dinero.\n\nEl suministro m\u00e1ximo de bitcoins est\u00e1 fijado en 21 millones, y cualquier intento de aumentar este l\u00edmite requerir\u00eda el consenso de una parte importante de la red bitcoin, lo que es muy poco probable que suceda.\n", + "title": "El l\u00edmite de oferta de Bitcoin podr\u00eda estar corrupto", + "type": "Texto" + }, + { + "answers": [ + "No, porque la naturaleza descentralizada de la red bitcoin dificulta la aplicaci\u00f3n de una prohibici\u00f3n.", + "S\u00ed, evitando la generaci\u00f3n de n\u00fameros aleatorios.", + "S\u00ed, cerrando Internet." + ], + "feedback": [ + "Correcto. La naturaleza descentralizada de la red bitcoin dificulta la aplicaci\u00f3n de una prohibici\u00f3n.", + "\u00a1No, tonto! Si bien es t\u00e9cnicamente posible que los gobiernos proh\u00edban el bitcoin, ser\u00eda casi imposible hacer cumplir dicha prohibici\u00f3n. Intentar otra vez", + "Oh oh, parece que es posible que hayas obtenido la respuesta incorrecta. Cerrar Internet no necesariamente impedir\u00eda que la gente use bitcoin." + ], + "id": "gobiernoProhibici\u00f3n", + "question": "\u00bfPueden los gobiernos prohibir efectivamente el bitcoin?", + "text": "Es t\u00e9cnicamente posible que los gobiernos proh\u00edban Bitcoin, pero hacer cumplir dicha prohibici\u00f3n ser\u00eda dif\u00edcil debido a la naturaleza descentralizada de la red Bitcoin.\n\nBitcoin se basa en claves privadas, que son simplemente n\u00fameros aleatorios, para controlar el acceso a las transacciones registradas en la cadena de bloques. Estas claves privadas se pueden generar y almacenar en cualquier lugar, lo que las hace en gran medida indetectables.\n\nAdem\u00e1s, la infraestructura necesaria para acceder a la red bitcoin es relativamente simple y est\u00e1 ampliamente disponible, lo que facilita que las personas verifiquen las transacciones sin confianza.\n\nComo dijo Saifedean Ammous, \"Prohibir bitcoin no es muy diferente de intentar prohibir las matem\u00e1ticas. Simplemente demostrar\u00e1 su utilidad y atraer\u00e1 a m\u00e1s personas\".\n", + "title": "Los gobiernos prohibir\u00e1n Bitcoin", + "type": "Texto" + } + ], + "meta": { + "id": "BitcoinCr\u00edticas y falaciasII", + "title": "Cr\u00edticas y falacias de Bitcoin II" + } +} \ No newline at end of file diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.01-lesson-internet-dependent.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.01-lesson-internet-dependent.json new file mode 100644 index 0000000..24f9edc --- /dev/null +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.01-lesson-internet-dependent.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "By sending a transaction via SMS", + "By posting a message on a social media platform", + "By sending an email" + ], + "feedback": [ + "You've identified a way to send bitcoin transactions even when the internet is down. Good thinking", + "Well, it looks like you're trying to stay connected in the digital age even during an internet outage, but that's incorrect", + "I see you're trying to stay connected through traditional means, but unfortunately sending an email might not be the most reliable way to send bitcoin transactions during an internet outage. Try again!" + ], + "id": "internetDependent", + "question": "How can bitcoin transactions be sent in the event of an internet disruption", + "text": "There is a risk, of course, that internet access may be lost due to infrastructure failures, natural disasters, or intentional outages. However, it is possible to transact bitcoin using offline methods and other communication networks.\n\nFor instance, a signed bitcoin transaction can be transmitted to a single node and broadcast to the network for inclusion in a block by miners. There are various ways to do this, such as sending a transaction via SMS, using a physical wallet with a one-time use tamper-evident private key, or receiving blocks via satellite. These options allow for bitcoin to be used even in the event of an internet disruption.\n", + "title": "Bitcoin is too dependent on the Internet", + "type": "Text" +} diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.02-lesson-for-crime-only.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.02-lesson-for-crime-only.json new file mode 100644 index 0000000..42a9269 --- /dev/null +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.02-lesson-for-crime-only.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "No", + "Yes", + "It depends on the individual circumstances" + ], + "feedback": [ + "Well done! You've correctly identified that it is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.", + "I see you're a fan of sensational headlines and jumping to conclusions. Unfortunately, that's not based in reality", + "It looks like you're trying to take a balanced approach, but is not accurate to make this claim regardless of individual circumstances. Try again." + ], + "id": "forcrimeOnly", + "question": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity", + "text": "Bitcoin is a neutral tool for exchanging value, and it has no inherent beliefs, opinions, or values. Its meaning is determined by how it is used. It is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.\n\nCrime does not stem from access to tools, but rather from individual circumstances. If bitcoin is useful, it can be used by anyone, including criminals. If it is not useful, it cannot be used by anyone, including criminals.\n\nAs Parker Lewis stated, \"There is nothing inherent about the tools used to facilitate crimes that makes them criminal in themselves. Despite criminal use, no one is calling for the ban of roads, the internet, mail, etc.\"\n", + "title": "Bitcoin is for Criminals", + "type": "Text" +} diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.03-lesson-ponzi-scheme.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.03-lesson-ponzi-scheme.json new file mode 100644 index 0000000..1bf992e --- /dev/null +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.03-lesson-ponzi-scheme.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "It is a form of money", + "It is a ponzi scheme", + "It is an open-source investment scheme" + ], + "feedback": [ + "Congratulations! You've earned some sats for correctly identifying that bitcoin is a form of money. Did you know that bitcoin was the first decentralized digital currency to be created, and it operates without a central bank or single administrator", + "Ah hah! You fell for the old ponzi scheme trick! Just kidding, but seriously, that's not what bitcoin is", + "Nope, sorry! Bitcoin isn't an open-source investment scheme. But hey, at least you're learning about it, right?" + ], + "id": "ponziScheme", + "question": "Which of the following statements is true about bitcoin", + "text": "Calling bitcoin a ponzi scheme shows a lack of understanding of both bitcoin and the definition of a ponzi scheme. A ponzi scheme involves promises of above-market returns to investors, but as a permissionless network, bitcoin does not have a central authority that can make such promises.\n\nAdditionally, bitcoin is not an investment scheme, it is a form of money. Unlike opaque investment opportunities that may be promoted to unsuspecting individuals, bitcoin's code is open-source and its supply can be independently verified at all times.\n", + "title": "Bitcoin is a Ponzi Scheme", + "type": "Text" +} diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.04-lesson-bitcoin-is-too-slow.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.04-lesson-bitcoin-is-too-slow.json new file mode 100644 index 0000000..55424ca --- /dev/null +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.04-lesson-bitcoin-is-too-slow.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Credit card payments go through multiple parties before reaching the merchant, while bitcoin payments go directly to the recipient without intermediaries", + "Credit card payments are final once they are confirmed, while bitcoin payments can be reversed", + "but at least you're learning about bitcoin" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin payment mastery. You seem to understand that bitcoin operates without a central bank or single administrator", + "Uh oh, looks like you might have gotten the wrong answer, but at least you're learning about bitcoin", + "Nope, sorry! Credit card payments are being censored all the time, but good try. Keep learning about bitcoin!" + ], + "id": "bitcoinisTooSlow", + "question": "What is the main difference between paying with a credit card and paying with bitcoin on-chain", + "text": "Paying with bitcoin is not the same as using a credit card to make a purchase. When you use a credit card, your payment goes through multiple parties before reaching the merchant's bank account after days or even weeks of processing.\n\nIn contrast, when you pay with bitcoin on the main blockchain, you are sending actual money directly to the recipient without any intermediaries. This means there is no risk of censorship and the transaction is considered final once it has been confirmed by six blocks on the blockchain.\n\nThe proper comparison would be between bitcoin base layer and the Fed as currency issuer and as a clearing mechanism.\n\nSince the advent of the Lightning Network, the \"Bitcoin is too slow\" criticism has largely fallen silent.\n", + "title": "Bitcoin is too slow", + "type": "Text" +} diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.05-lesson-supply-limit.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.05-lesson-supply-limit.json new file mode 100644 index 0000000..4591d67 --- /dev/null +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.05-lesson-supply-limit.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Through a decentralized consensus process in which every transaction is independently validated by nodes on the network", + "Through a centralized process in which a single authority controls the issuance of new coins", + "By fixing the maximum supply at an arbitrary number, such as 100 million" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin supply mastery. Did you know that the decentralized nature of the bitcoin network allows for greater transparency, as every transaction is independently validated by nodes on the network", + "Nope, sorry! Bitcoin's supply isn't controlled by a central authority. Try again", + "Uh oh, looks like you might have gotten the wrong answer. The maximum supply of bitcoin is fixed at 21 million, not 100 million. But at least you're learning about bitcoin!" + ], + "id": "supplyLimit", + "question": "How is the supply of bitcoin protected from being corrupted", + "text": "Bitcoin's decentralized nature allows for its supply to be independently validated by each node on the network, ensuring that it cannot be corrupted. This is achieved through a consensus process in which every transaction that has been confirmed on the bitcoin network is independently validated.\n\nWhile anyone can fork the code and make changes to the rules, it is unlikely that this version of the code would be adopted by the wider network. The decentralized consensus process and the incorruptible supply of bitcoin are crucial to its appeal as a form of money.\n\nThe maximum supply of bitcoin is fixed at 21 million, and any attempt to increase this limit would require consensus from a significant portion of the bitcoin network, which is highly unlikely to happen.\n", + "title": "Bitcoin's Supply Limit Could Be Corrupted", + "type": "Text" +} diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.06-lesson-government-ban.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.06-lesson-government-ban.json new file mode 100644 index 0000000..f01eb1a --- /dev/null +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.06-lesson-government-ban.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "No, because the decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Yes, by preventing the generation of random numbers", + "Yes, by shutting down the internet" + ], + "feedback": [ + "Correct. The decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Nope, silly! While it is technically possible for governments to ban bitcoin, it would be nearly impossible to enforce such a ban. Try again", + "Uh oh, looks like you might have gotten the wrong answer. Shutting down the internet wouldn't necessarily stop people from using bitcoin." + ], + "id": "governmentBan", + "question": "Can governments effectively ban bitcoin", + "text": "It is technically possible for governments to ban bitcoin, but enforcing such a ban would be difficult due to the decentralized nature of the bitcoin network.\n\nBitcoin relies on private keys, which are simply random numbers, to control access to transactions recorded on the blockchain. These private keys can be generated and stored anywhere, making them largely undectectable.\n\nAdditionally, the infrastructure required to access the bitcoin network is relatively simple and widely available, making it easy for people to trustlessly verify transactions.\n\nAs Saifedean Ammous said, \"Banning bitcoin is not much different from trying to ban math. It will just prove its utility & drive more people to it.\"\n", + "title": "Governments Will Ban Bitcoin", + "type": "Text" +} diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json new file mode 100644 index 0000000..40f5072 --- /dev/null +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "Yes, but these wallets belong to exchanges that have millions of customers", + "Yes, and these wallets belong to individuals who have hoarded large amounts of bitcoin", + "No, the vast majority of bitcoin is evenly distributed among a large number of users" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin wallet mastery. Did you know that it is generally considered best practice to keep bitcoin in a self-hosted wallet for security and privacy reasons", + "Nope, sorry! While it is technically true that a small number of wallets hold the majority of all bitcoin, these wallets don't necessarily belong to individuals who have hoarded large amounts of bitcoin. Keep learning about bitcoin", + "Uh oh, looks like you might have gotten the wrong answer. The distribution of bitcoin among users is not necessarily even. But at least you're learning about bitcoin!" + ], + "id": "concentratedOwnership", + "question": "Is it true that a small number of wallets hold the majority of all bitcoin", + "text": "It is often said that a small number of wallets hold the majority of all bitcoin. While this is technically true, it is important to note that these wallets are typically owned by exchanges that have millions of customers.\n\nMany people choose to leave their bitcoin on an exchange, but it is generally considered best practice to keep bitcoin in a personal wallet for security and privacy reasons.\n\nIt is also worth noting that a single bitcoin address can contain bitcoin belonging to multiple users, and a single user can control multiple wallets. To maintain privacy, it is recommended to generate a new address for each receiving transaction instead of reusing the same address.\n", + "title": "Bitcoin Ownership Is Concentrated on a Few Users", + "type": "Text" + }, + { + "answers": [ + "No, because they have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain", + "Yes, because they have a majority of the hashing power", + "Yes, but only if they are acting in their own self-interest" + ], + "feedback": [ + "Yep, that's right. Did you know that the decentralized nature of the bitcoin network ensures that no single entity, including mining pools, can disrupt the network or censor transactions", + "Nope, sorry! While mining pools do have a significant amount of hashing power, individual miners are extremely mobile and can trivially direct their hashrate to an honest mining pool", + "Incorrect. While it is true that mining pools have an incentive to act in their own self-interest, this does not mean that they can disrupt the bitcoin network or censor transactions." + ], + "id": "centralizedMining", + "question": "Can mining pools disrupt the bitcoin network or censor transactions", + "text": "Some people believe that mining pools, which are groups of miners that work together to increase their chances of finding a block, could potentially disrupt the bitcoin network or censor transactions.\n\nHowever, this concern stems from a lack of understanding of the incentives of miners and their role in the network. In reality, miners have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain, as their own profits depend on it.\n\nAs Jimmy Song said, \"A majority of hashing power can't: take coins you already possess away, change the rules of bitcoin, or hurt you without hurting themselves.\"\n", + "title": "Bitcoin Mining Is Centralized", + "type": "Text" + }, + { + "answers": [ + "By comparing the entire market capitalization of bitcoin to that of other asset classes", + "By comparing the unit price of one bitcoin to the unit price of another asset, such as gold", + "By consulting a crystal ball and going with your gut feeling" + ], + "feedback": [ + "Congratulations, you're on the right track! It's important to consider the entire market cap of bitcoin when comparing it to other assets. Did you know that the total market cap of bitcoin reached over $1 trillion in 2021", + "Uh oh, it looks like you might have fallen for the unit bias trap! Better luck next time", + "Sorry, consulting a crystal ball might work for predicting the weather, but it's not a reliable way to assess the value of bitcoin. Better luck next time!" + ], + "id": "tooExpensive", + "question": "How can you accurately compare the value of bitcoin to other assets", + "text": "One common misconception about bitcoin is that it is too expensive to purchase.\n\nHowever, this belief is based on unit bias, as it is more accurate to compare the entire market capitalization of bitcoin to other assets rather than just the unit price of a single bitcoin.\n\nIt's also worth noting that a single bitcoin can be divided into 100 million smaller units called satoshis. As the saying goes, \"you can buy a fraction of a bitcoin!\"\n", + "title": "Bitcoin is too expensive", + "type": "Text" + }, + { + "answers": [ + "The efficiency and reliability of the bitcoin network as a settlement layer", + "The use of secondary layers such as lightning, liquid, or federated side-chains for smaller transactions", + "The fact that bitcoin is still a relatively new technology and has not yet reached its full potential" + ], + "feedback": [ + "Congratulations, you've hit the nail on the head! The efficiency and reliability of the bitcoin network certainly play a role in keeping transaction fees low. Did you know that the bitcoin network can process up to 7 transactions per second, making it faster than some traditional payment systems", + "Nice try, but it looks like you're missing a key piece of information. Try again", + "Sorry, but being a newer technology does not necessarily equate to lower transaction fees. Better luck next time!" + ], + "id": "prohibitivelyHigh", + "question": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems", + "text": "Another misconception about bitcoin is that its transaction costs are prohibitively high.\n\nHowever, confirmed transactions on the main layer of bitcoin provide a level of finality that is unmatched in the traditional financial system. While it is true that transaction fees may occasionally spike due to the limited capacity of each block, the bitcoin network remains an efficient and reliable settlement layer for high-value transactions.\n\nIn fact, according to Saifedean Ammous, \"between October 2010 and July 2021, the average daily transaction fees came up to around 0.02% of the value of the transactions.\"\n\nIn addition, smaller transactions, including microtransactions, are often migrated to secondary layers such as lightning, liquid, or federated side-chains where fees are significantly lower than those offered by retail banks.\n", + "title": "Bitcoin transaction costs are prohibitively high", + "type": "Text" + }, + { + "answers": [ + "No, holding bitcoin is a way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Yes, holding bitcoin is the same thing as hoarding bitcoin", + "It depends on the individual's intentions and financial goals" + ], + "feedback": [ + "Congratulations, you're on the right track! As Pierre Rochard pointed out, 'all bitcoin are always held by someone, payments only change who is holding it.' Well done", + "Uh oh, it looks like you might have fallen for the hoarding misconception! Holding bitcoin is a common way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Sorry, but the distinction between holding and hoarding bitcoin is not dependent on an individual's intentions and financial goals. Better luck next time!" + ], + "id": "willBeHoarded", + "question": "Is holding bitcoin the same thing as hoarding bitcoin", + "text": "There is a common belief that the fixed supply of bitcoin incentivizes hoarding, or the act of holding onto bitcoin rather than spending it in the economy.\n\nHowever, this logic has a few flaws. First, saving, or the act of setting aside income for future use, is often conflated with hoarding. In fact, saving is a necessary precursor to significant investment and can be seen as a responsible financial practice.\n\nSecond, holding onto bitcoin, or any form of money, is a common way to hedge against future uncertainty and does not necessarily mean that it is not being used.\n\nAs Pierre Rochard pointed out, \"all bitcoin are always held by someone, payments only change who is holding it.\" In other words, the act of holding bitcoin is itself a use of bitcoin.\n", + "title": "The Misconception of Bitcoin Hoarding", + "type": "Text" + }, + { + "answers": [ + "The code is heavily scrutinized and rigorously developed, ensuring its security and transparency", + "The fact that it is open source allows for a meritocracy and encourages the \"hive mind\" to build solutions", + "It is backed by a large and influential group of investors" + ], + "feedback": [ + "That's exactly right! The code of bitcoin is indeed heavily scrutinized and rigorously developed, which adds to its value. In fact, @BTCSchellingPt noted that Bitcoin Core is probably one of the most heavily scrutinized code bases in the world", + "Nice try, but the value of bitcoin lies not only in its code but also in the community and infrastructure surrounding it. Better luck next time", + "Sorry, the value of bitcoin is not solely determined by the backing of a group of investors. Better luck next time!" + ], + "id": "canBeDuplicated", + "question": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone", + "text": "One argument against the value of bitcoin is that it is not scarce because there are thousands of other cryptocurrencies available and because anyone can copy the code and create their own version.\n\nHowever, this overlooks the fact that bitcoin is more than just a piece of code. It is an open source protocol for transferring value that attracts people and resources due to its transparency and rigorous development process.\n\nAs @BTCSchellingPt noted, \"open source is very much a meritocracy. You've got the hive mind building solutions. You get all that scrutiny and that comes back to security. Bitcoin Core is probably one of the most heavily scrutinized code bases in the world.\"\n\nIn other words, the value of bitcoin lies not only in its code, but also in the community and infrastructure that surrounds it.\n", + "title": "Bitcoin is not scarce because there are thousands of cryptocurrencies", + "type": "Text" + } + ], + "meta": { + "id": "BitcoinCriticisms&FallaciesIII", + "title": "Bitcoin Criticisms & Fallacies III" + } +} diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503-es-combined.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503-es-combined.json new file mode 100644 index 0000000..6710777 --- /dev/null +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503-es-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "S\u00ed, pero estas billeteras pertenecen a intercambios que tienen millones de clientes.", + "S\u00ed, y estas billeteras pertenecen a personas que han acumulado grandes cantidades de bitcoins.", + "No, la gran mayor\u00eda de bitcoins se distribuye uniformemente entre una gran cantidad de usuarios" + ], + "feedback": [ + "\u00a1Felicidades! Has desbloqueado el m\u00e1ximo dominio de la billetera bitcoin. \u00bfSab\u00eda que generalmente se considera una buena pr\u00e1ctica mantener bitcoins en una billetera autohospedada por razones de seguridad y privacidad?", + "\u00a1No, lo siento! Si bien es t\u00e9cnicamente cierto que una peque\u00f1a cantidad de billeteras contienen la mayor parte de todos los bitcoins, estas billeteras no necesariamente pertenecen a personas que han acumulado grandes cantidades de bitcoins. Sigue aprendiendo sobre bitcoin", + "Oh oh, parece que es posible que hayas obtenido la respuesta incorrecta. La distribuci\u00f3n de bitcoin entre los usuarios no es necesariamente pareja. \u00a1Pero al menos est\u00e1s aprendiendo sobre bitcoin!" + ], + "id": "propiedad concentrada", + "question": "\u00bfEs cierto que una peque\u00f1a cantidad de billeteras contienen la mayor parte de todos los bitcoins?", + "text": "A menudo se dice que una peque\u00f1a cantidad de billeteras contienen la mayor parte de todos los bitcoins. Si bien esto es t\u00e9cnicamente cierto, es importante tener en cuenta que estas carteras suelen ser propiedad de intercambios que tienen millones de clientes.\n\nMuchas personas optan por dejar sus bitcoins en un intercambio, pero generalmente se considera una mejor pr\u00e1ctica mantener bitcoins en una billetera personal por razones de seguridad y privacidad.\n\nTambi\u00e9n vale la pena se\u00f1alar que una sola direcci\u00f3n de bitcoin puede contener bitcoins que pertenecen a m\u00faltiples usuarios, y un solo usuario puede controlar m\u00faltiples billeteras. Para mantener la privacidad, se recomienda generar una nueva direcci\u00f3n para cada transacci\u00f3n de recepci\u00f3n en lugar de reutilizar la misma direcci\u00f3n.\n", + "title": "La propiedad de Bitcoin se concentra en unos pocos usuarios", + "type": "Texto" + }, + { + "answers": [ + "No, porque tienen un fuerte incentivo para seguir las reglas de la red y mantener la integridad de la cadena de bloques.", + "S\u00ed, porque tienen la mayor\u00eda del poder hash.", + "S\u00ed, pero s\u00f3lo si act\u00faan por su propio inter\u00e9s." + ], + "feedback": [ + "S\u00ed, eso es correcto. \u00bfSab\u00edas que la naturaleza descentralizada de la red bitcoin garantiza que ninguna entidad, incluidos los grupos de miner\u00eda, pueda interrumpir la red o censurar las transacciones?", + "\u00a1No, lo siento! Si bien los grupos de miner\u00eda tienen una cantidad significativa de poder de hash, los mineros individuales son extremadamente m\u00f3viles y pueden dirigir trivialmente su tasa de hash a un grupo de miner\u00eda honesto.", + "Incorrecto. Si bien es cierto que los pools de miner\u00eda tienen un incentivo para actuar en su propio inter\u00e9s, esto no significa que puedan perturbar la red bitcoin o censurar las transacciones." + ], + "id": "Miner\u00eda centralizada", + "question": "\u00bfPueden los pools de miner\u00eda alterar la red bitcoin o censurar las transacciones?", + "text": "Algunas personas creen que los pools de miner\u00eda, que son grupos de mineros que trabajan juntos para aumentar sus posibilidades de encontrar un bloque, podr\u00edan potencialmente alterar la red bitcoin o censurar las transacciones.\n\nSin embargo, esta preocupaci\u00f3n surge de una falta de comprensi\u00f3n de los incentivos de los mineros y su papel en la red. En realidad, los mineros tienen un fuerte incentivo para seguir las reglas de la red y mantener la integridad de la cadena de bloques, ya que sus propios beneficios dependen de ello.\n\nComo dijo Jimmy Song: \"La mayor\u00eda del poder de hash no puede: quitarle las monedas que ya posee, cambiar las reglas de bitcoin o lastimarlo sin lastimarse a s\u00ed mismo\".\n", + "title": "La miner\u00eda de Bitcoin est\u00e1 centralizada", + "type": "Texto" + }, + { + "answers": [ + "Comparando toda la capitalizaci\u00f3n de mercado de bitcoin con la de otras clases de activos", + "Comparando el precio unitario de un bitcoin con el precio unitario de otro activo, como el oro.", + "Consultando una bola de cristal y siguiendo tu instinto" + ], + "feedback": [ + "\u00a1Felicitaciones, est\u00e1s en el camino correcto! Es importante considerar la capitalizaci\u00f3n de mercado total de bitcoin al compararlo con otros activos. \u00bfSab\u00edas que la capitalizaci\u00f3n de mercado total de bitcoin alcanz\u00f3 m\u00e1s de 1 bill\u00f3n de d\u00f3lares en 2021?", + "\u00a1Oh, oh, parece que has ca\u00eddo en la trampa del sesgo unitario! Mejor suerte la pr\u00f3xima vez", + "Lo sentimos, consultar una bola de cristal podr\u00eda funcionar para predecir el clima, pero no es una forma confiable de evaluar el valor de bitcoin. \u00a1Mejor suerte la pr\u00f3xima vez!" + ], + "id": "muy caro", + "question": "\u00bfC\u00f3mo se puede comparar con precisi\u00f3n el valor de bitcoin con otros activos?", + "text": "Un error com\u00fan sobre bitcoin es que su compra es demasiado cara.\n\nSin embargo, esta creencia se basa en un sesgo unitario, ya que es m\u00e1s preciso comparar toda la capitalizaci\u00f3n de mercado de bitcoin con otros activos en lugar de solo el precio unitario de un solo bitcoin.\n\nTambi\u00e9n vale la pena se\u00f1alar que un solo bitcoin se puede dividir en 100 millones de unidades m\u00e1s peque\u00f1as llamadas satoshis. Como dice el refr\u00e1n, \"\u00a1puedes comprar una fracci\u00f3n de bitcoin!\"\n", + "title": "Bitcoin es demasiado caro", + "type": "Texto" + }, + { + "answers": [ + "La eficiencia y confiabilidad de la red bitcoin como capa de liquidaci\u00f3n", + "El uso de capas secundarias como cadenas laterales rel\u00e1mpago, l\u00edquidas o federadas para transacciones m\u00e1s peque\u00f1as.", + "El hecho de que bitcoin sea todav\u00eda una tecnolog\u00eda relativamente nueva y a\u00fan no haya alcanzado su m\u00e1ximo potencial" + ], + "feedback": [ + "\u00a1Enhorabuena, has dado en el clavo! La eficiencia y confiabilidad de la red bitcoin ciertamente desempe\u00f1an un papel a la hora de mantener bajas las tarifas de transacci\u00f3n. \u00bfSab\u00edas que la red bitcoin puede procesar hasta 7 transacciones por segundo, lo que la hace m\u00e1s r\u00e1pida que algunos sistemas de pago tradicionales?", + "Buen intento, pero parece que te falta informaci\u00f3n clave. Intentar otra vez", + "Lo sentimos, pero ser una tecnolog\u00eda m\u00e1s nueva no necesariamente equivale a tarifas de transacci\u00f3n m\u00e1s bajas. \u00a1Mejor suerte la pr\u00f3xima vez!" + ], + "id": "prohibitivamente alto", + "question": "\u00bfCu\u00e1l es la raz\u00f3n principal por la que las tarifas de transacci\u00f3n en la capa principal de bitcoin siguen siendo relativamente bajas en comparaci\u00f3n con los sistemas financieros tradicionales?", + "text": "Otra idea err\u00f3nea sobre bitcoin es que sus costos de transacci\u00f3n son prohibitivamente altos.\n\nSin embargo, las transacciones confirmadas en la capa principal de bitcoin proporcionan un nivel de finalidad incomparable en el sistema financiero tradicional. Si bien es cierto que las tarifas de transacci\u00f3n pueden aumentar ocasionalmente debido a la capacidad limitada de cada bloque, la red bitcoin sigue siendo una capa de liquidaci\u00f3n eficiente y confiable para transacciones de alto valor.\n\nDe hecho, seg\u00fan Saifedean Ammous, \"entre octubre de 2010 y julio de 2021, las tarifas de transacci\u00f3n diarias promedio ascendieron a alrededor del 0,02% del valor de las transacciones\".\n\nAdem\u00e1s, las transacciones m\u00e1s peque\u00f1as, incluidas las microtransacciones, a menudo se migran a capas secundarias, como cadenas laterales rel\u00e1mpago, l\u00edquidas o federadas, donde las tarifas son significativamente m\u00e1s bajas que las ofrecidas por los bancos minoristas.\n", + "title": "Los costos de transacci\u00f3n de Bitcoin son prohibitivamente altos", + "type": "Texto" + }, + { + "answers": [ + "No, tener bitcoins es una forma de protegerse contra la incertidumbre futura y no significa necesariamente que no se est\u00e9n utilizando.", + "S\u00ed, tener bitcoins es lo mismo que acumular bitcoins", + "Depende de las intenciones y objetivos financieros del individuo." + ], + "feedback": [ + "\u00a1Felicitaciones, est\u00e1s en el camino correcto! Como se\u00f1al\u00f3 Pierre Rochard, \"todos los bitcoins siempre est\u00e1n en manos de alguien, los pagos s\u00f3lo cambian qui\u00e9n los posee\". Bien hecho", + "\u00a1Oh, oh, parece que has ca\u00eddo en la idea err\u00f3nea del acaparamiento! Tener bitcoins es una forma com\u00fan de protegerse contra la incertidumbre futura y no significa necesariamente que no se est\u00e9n utilizando.", + "Lo sentimos, pero la distinci\u00f3n entre poseer y acaparar bitcoins no depende de las intenciones ni de los objetivos financieros de un individuo. \u00a1Mejor suerte la pr\u00f3xima vez!" + ], + "id": "ser\u00e1 acaparado", + "question": "\u00bfTener bitcoins es lo mismo que acumular bitcoins?", + "text": "Existe una creencia com\u00fan de que el suministro fijo de bitcoins incentiva el acaparamiento, o el acto de retener bitcoins en lugar de gastarlos en la econom\u00eda.\n\nSin embargo, esta l\u00f3gica tiene algunos defectos. En primer lugar, el ahorro, o el acto de reservar ingresos para uso futuro, a menudo se confunde con el acaparamiento. De hecho, el ahorro es un precursor necesario de una inversi\u00f3n significativa y puede verse como una pr\u00e1ctica financiera responsable.\n\nEn segundo lugar, conservar bitcoins, o cualquier forma de dinero, es una forma com\u00fan de protegerse contra la incertidumbre futura y no significa necesariamente que no se est\u00e9 utilizando.\n\nComo se\u00f1al\u00f3 Pierre Rochard, \"todos los bitcoins siempre est\u00e1n en manos de alguien, los pagos s\u00f3lo cambian qui\u00e9n los posee\". En otras palabras, el acto de poseer bitcoins es en s\u00ed mismo un uso de bitcoins.\n", + "title": "La idea err\u00f3nea del acaparamiento de Bitcoin", + "type": "Texto" + }, + { + "answers": [ + "El c\u00f3digo se analiza minuciosamente y se desarrolla rigurosamente, garantizando su seguridad y transparencia.", + "El hecho de que sea de c\u00f3digo abierto permite la meritocracia y anima a la \"mente colmena\" a crear soluciones.", + "Est\u00e1 respaldado por un grupo grande e influyente de inversores." + ], + "feedback": [ + "\u00a1Eso es exactamente correcto! De hecho, el c\u00f3digo de bitcoin est\u00e1 muy analizado y desarrollado rigurosamente, lo que aumenta su valor. De hecho, @BTCSchellingPt se\u00f1al\u00f3 que Bitcoin Core es probablemente una de las bases de c\u00f3digo m\u00e1s analizadas del mundo.", + "Buen intento, pero el valor de bitcoin no s\u00f3lo reside en su c\u00f3digo sino tambi\u00e9n en la comunidad y la infraestructura que lo rodea. Mejor suerte la pr\u00f3xima vez", + "Lo sentimos, el valor de bitcoin no est\u00e1 determinado \u00fanicamente por el respaldo de un grupo de inversores. \u00a1Mejor suerte la pr\u00f3xima vez!" + ], + "id": "se puede duplicar", + "question": "\u00bfCu\u00e1l es la raz\u00f3n principal por la que bitcoin se considera valioso a pesar de que cualquiera puede copiar su c\u00f3digo?", + "text": "Un argumento en contra del valor del bitcoin es que no es escaso porque hay miles de otras criptomonedas disponibles y porque cualquiera puede copiar el c\u00f3digo y crear su propia versi\u00f3n.\n\nSin embargo, esto pasa por alto el hecho de que bitcoin es m\u00e1s que un simple fragmento de c\u00f3digo. Es un protocolo de c\u00f3digo abierto para transferir valor que atrae personas y recursos por su transparencia y riguroso proceso de desarrollo.\n\nComo se\u00f1al\u00f3 @BTCSchellingPt, \"el c\u00f3digo abierto es en gran medida una meritocracia. Tienes las soluciones de construcci\u00f3n mental de la colmena. Obtienes todo ese escrutinio y eso vuelve a la seguridad. Bitcoin Core es probablemente una de las bases de c\u00f3digo m\u00e1s analizadas en el mundo. mundo.\"\n\nEn otras palabras, el valor de bitcoin no reside s\u00f3lo en su c\u00f3digo, sino tambi\u00e9n en la comunidad y la infraestructura que lo rodea.\n", + "title": "Bitcoin no escasea porque hay miles de criptomonedas", + "type": "Texto" + } + ], + "meta": { + "id": "BitcoinCr\u00edticas y falaciasIII", + "title": "Cr\u00edticas y falacias de Bitcoin III" + } +} \ No newline at end of file diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.01-lesson.concentrated-ownership.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.01-lesson.concentrated-ownership.json new file mode 100644 index 0000000..6ab6239 --- /dev/null +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.01-lesson.concentrated-ownership.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Yes, but these wallets belong to exchanges that have millions of customers", + "Yes, and these wallets belong to individuals who have hoarded large amounts of bitcoin", + "No, the vast majority of bitcoin is evenly distributed among a large number of users" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin wallet mastery. Did you know that it is generally considered best practice to keep bitcoin in a self-hosted wallet for security and privacy reasons", + "Nope, sorry! While it is technically true that a small number of wallets hold the majority of all bitcoin, these wallets don't necessarily belong to individuals who have hoarded large amounts of bitcoin. Keep learning about bitcoin", + "Uh oh, looks like you might have gotten the wrong answer. The distribution of bitcoin among users is not necessarily even. But at least you're learning about bitcoin!" + ], + "id": "concentratedOwnership", + "question": "Is it true that a small number of wallets hold the majority of all bitcoin", + "text": "It is often said that a small number of wallets hold the majority of all bitcoin. While this is technically true, it is important to note that these wallets are typically owned by exchanges that have millions of customers.\n\nMany people choose to leave their bitcoin on an exchange, but it is generally considered best practice to keep bitcoin in a personal wallet for security and privacy reasons.\n\nIt is also worth noting that a single bitcoin address can contain bitcoin belonging to multiple users, and a single user can control multiple wallets. To maintain privacy, it is recommended to generate a new address for each receiving transaction instead of reusing the same address.\n", + "title": "Bitcoin Ownership Is Concentrated on a Few Users", + "type": "Text" +} diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.02-lesson-centralized-mining.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.02-lesson-centralized-mining.json new file mode 100644 index 0000000..4542844 --- /dev/null +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.02-lesson-centralized-mining.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "No, because they have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain", + "Yes, because they have a majority of the hashing power", + "Yes, but only if they are acting in their own self-interest" + ], + "feedback": [ + "Yep, that's right. Did you know that the decentralized nature of the bitcoin network ensures that no single entity, including mining pools, can disrupt the network or censor transactions", + "Nope, sorry! While mining pools do have a significant amount of hashing power, individual miners are extremely mobile and can trivially direct their hashrate to an honest mining pool", + "Incorrect. While it is true that mining pools have an incentive to act in their own self-interest, this does not mean that they can disrupt the bitcoin network or censor transactions." + ], + "id": "centralizedMining", + "question": "Can mining pools disrupt the bitcoin network or censor transactions", + "text": "Some people believe that mining pools, which are groups of miners that work together to increase their chances of finding a block, could potentially disrupt the bitcoin network or censor transactions.\n\nHowever, this concern stems from a lack of understanding of the incentives of miners and their role in the network. In reality, miners have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain, as their own profits depend on it.\n\nAs Jimmy Song said, \"A majority of hashing power can't: take coins you already possess away, change the rules of bitcoin, or hurt you without hurting themselves.\"\n", + "title": "Bitcoin Mining Is Centralized", + "type": "Text" +} diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.03-lesson-too-expensive.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.03-lesson-too-expensive.json new file mode 100644 index 0000000..4a58f6d --- /dev/null +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.03-lesson-too-expensive.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "By comparing the entire market capitalization of bitcoin to that of other asset classes", + "By comparing the unit price of one bitcoin to the unit price of another asset, such as gold", + "By consulting a crystal ball and going with your gut feeling" + ], + "feedback": [ + "Congratulations, you're on the right track! It's important to consider the entire market cap of bitcoin when comparing it to other assets. Did you know that the total market cap of bitcoin reached over $1 trillion in 2021", + "Uh oh, it looks like you might have fallen for the unit bias trap! Better luck next time", + "Sorry, consulting a crystal ball might work for predicting the weather, but it's not a reliable way to assess the value of bitcoin. Better luck next time!" + ], + "id": "tooExpensive", + "question": "How can you accurately compare the value of bitcoin to other assets", + "text": "One common misconception about bitcoin is that it is too expensive to purchase.\n\nHowever, this belief is based on unit bias, as it is more accurate to compare the entire market capitalization of bitcoin to other assets rather than just the unit price of a single bitcoin.\n\nIt's also worth noting that a single bitcoin can be divided into 100 million smaller units called satoshis. As the saying goes, \"you can buy a fraction of a bitcoin!\"\n", + "title": "Bitcoin is too expensive", + "type": "Text" +} diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.04-lesson-prohibitively-high.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.04-lesson-prohibitively-high.json new file mode 100644 index 0000000..ade272f --- /dev/null +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.04-lesson-prohibitively-high.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The efficiency and reliability of the bitcoin network as a settlement layer", + "The use of secondary layers such as lightning, liquid, or federated side-chains for smaller transactions", + "The fact that bitcoin is still a relatively new technology and has not yet reached its full potential" + ], + "feedback": [ + "Congratulations, you've hit the nail on the head! The efficiency and reliability of the bitcoin network certainly play a role in keeping transaction fees low. Did you know that the bitcoin network can process up to 7 transactions per second, making it faster than some traditional payment systems", + "Nice try, but it looks like you're missing a key piece of information. Try again", + "Sorry, but being a newer technology does not necessarily equate to lower transaction fees. Better luck next time!" + ], + "id": "prohibitivelyHigh", + "question": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems", + "text": "Another misconception about bitcoin is that its transaction costs are prohibitively high.\n\nHowever, confirmed transactions on the main layer of bitcoin provide a level of finality that is unmatched in the traditional financial system. While it is true that transaction fees may occasionally spike due to the limited capacity of each block, the bitcoin network remains an efficient and reliable settlement layer for high-value transactions.\n\nIn fact, according to Saifedean Ammous, \"between October 2010 and July 2021, the average daily transaction fees came up to around 0.02% of the value of the transactions.\"\n\nIn addition, smaller transactions, including microtransactions, are often migrated to secondary layers such as lightning, liquid, or federated side-chains where fees are significantly lower than those offered by retail banks.\n", + "title": "Bitcoin transaction costs are prohibitively high", + "type": "Text" +} diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.05-lesson-will-be-hoarded.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.05-lesson-will-be-hoarded.json new file mode 100644 index 0000000..7055e79 --- /dev/null +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.05-lesson-will-be-hoarded.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "No, holding bitcoin is a way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Yes, holding bitcoin is the same thing as hoarding bitcoin", + "It depends on the individual's intentions and financial goals" + ], + "feedback": [ + "Congratulations, you're on the right track! As Pierre Rochard pointed out, 'all bitcoin are always held by someone, payments only change who is holding it.' Well done", + "Uh oh, it looks like you might have fallen for the hoarding misconception! Holding bitcoin is a common way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Sorry, but the distinction between holding and hoarding bitcoin is not dependent on an individual's intentions and financial goals. Better luck next time!" + ], + "id": "willBeHoarded", + "question": "Is holding bitcoin the same thing as hoarding bitcoin", + "text": "There is a common belief that the fixed supply of bitcoin incentivizes hoarding, or the act of holding onto bitcoin rather than spending it in the economy.\n\nHowever, this logic has a few flaws. First, saving, or the act of setting aside income for future use, is often conflated with hoarding. In fact, saving is a necessary precursor to significant investment and can be seen as a responsible financial practice.\n\nSecond, holding onto bitcoin, or any form of money, is a common way to hedge against future uncertainty and does not necessarily mean that it is not being used.\n\nAs Pierre Rochard pointed out, \"all bitcoin are always held by someone, payments only change who is holding it.\" In other words, the act of holding bitcoin is itself a use of bitcoin.\n", + "title": "The Misconception of Bitcoin Hoarding", + "type": "Text" +} diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.06-lesson-can-be-duplicated.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.06-lesson-can-be-duplicated.json new file mode 100644 index 0000000..ff9af29 --- /dev/null +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.06-lesson-can-be-duplicated.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The code is heavily scrutinized and rigorously developed, ensuring its security and transparency", + "The fact that it is open source allows for a meritocracy and encourages the \"hive mind\" to build solutions", + "It is backed by a large and influential group of investors" + ], + "feedback": [ + "That's exactly right! The code of bitcoin is indeed heavily scrutinized and rigorously developed, which adds to its value. In fact, @BTCSchellingPt noted that Bitcoin Core is probably one of the most heavily scrutinized code bases in the world", + "Nice try, but the value of bitcoin lies not only in its code but also in the community and infrastructure surrounding it. Better luck next time", + "Sorry, the value of bitcoin is not solely determined by the backing of a group of investors. Better luck next time!" + ], + "id": "canBeDuplicated", + "question": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone", + "text": "One argument against the value of bitcoin is that it is not scarce because there are thousands of other cryptocurrencies available and because anyone can copy the code and create their own version.\n\nHowever, this overlooks the fact that bitcoin is more than just a piece of code. It is an open source protocol for transferring value that attracts people and resources due to its transparency and rigorous development process.\n\nAs @BTCSchellingPt noted, \"open source is very much a meritocracy. You've got the hive mind building solutions. You get all that scrutiny and that comes back to security. Bitcoin Core is probably one of the most heavily scrutinized code bases in the world.\"\n\nIn other words, the value of bitcoin lies not only in its code, but also in the community and infrastructure that surrounds it.\n", + "title": "Bitcoin is not scarce because there are thousands of cryptocurrencies", + "type": "Text" +} diff --git a/chapter-601-bitcoin-and-economics-i/601-combined.json b/chapter-601-bitcoin-and-economics-i/601-combined.json new file mode 100644 index 0000000..3ce8ea5 --- /dev/null +++ b/chapter-601-bitcoin-and-economics-i/601-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "A resource that is limited in quantity or availability and can lead to competition for possession", + "A resource that is abundant and easy to come by", + "A resource that can only be obtained through time travel" + ], + "feedback": [ + "Remark:** Correct! Good job, you understood the concept of scarcity. Scarcity can lead to competition and can affect the value of goods and services in a free market", + "Wrong! Sorry to burst your bubble, but if something is easy to come by, it can't be scarce", + "Wrong! Time travel is a great idea for a sci-fi movie, but it doesn't have anything to do with scarce resources." + ], + "id": "scarcity", + "question": "What is a scarce resource", + "text": "When there are not enough resources to go around, people and organizations compete for them.\n\nThis competition is often reflected in the price of goods and services in a free market. If the demand for a particular resource increases faster than the supply, it can become scarce and more valuable.\n\nMoney is often used as a way to buy things because it is easy to trade and is valuable because it is scarce. Bitcoin is a digital form of money that has a fixed supply, which makes it rare and valuable.\n\nThe idea that there is never enough of something to go around is a basic principle of economics, but it is often ignored in political decisions.\n", + "title": "How limited resources are allocated and competed for", + "type": "Text" + }, + { + "answers": [ + "The difference in value between something's use as money and its value for its other uses", + "An extra fee added to the price of goods and services", + "A monetary premium has nothing to do with paying extra for things" + ], + "feedback": [ + "Congratulations! You know your stuff when it comes to monetary premiums. A monetary premium is the additional value that something can have when it is used as a substitute for money. Good job", + "Sorry, wrong answer! A monetary premium has nothing to do with paying extra for things", + "Nope! A monetary premium is not a discount, it's actually the opposite." + ], + "id": "monetaryPremium", + "question": "What is a monetary premium", + "text": "If the value of money is not based on its scarcity, it may not be as reliable as a way to store wealth. In this case, other things that are scarce, such as assets or resources, may become more valuable and be used as a substitute for money.\n\nThis additional value is known as a monetary premium. When the usual form of money is not working well, people may turn to other things that are rare or hard to obtain as a way to exchange value.\n\nSome historical forms of money had no other use or value besides being used as a way to trade for other things. The difference between the value of something as money and its value for its other uses is the monetary premium.\n", + "title": "Monetary Premium", + "type": "Text" + }, + { + "answers": [ + "A law that explains how people tend to use different types of currency in different ways when they are in circulation together", + "A law that says people will always choose to spend the more valuable currency when given a choice", + "Gresham's Law actually explains the opposite behavior" + ], + "feedback": [ + "Good job, you understood Gresham's Law. This law explains how people tend to save the more valuable currency and spend the less valuable one when given the choice. Interesting fact: Gresham's Law can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver", + "Sorry, wrong answer! Gresham's Law actually explains the opposite behavior", + "Ha! That's a funny answer, but unfortunately it's not correct." + ], + "id": "greshamsLaw", + "question": "What is Gresham's Law", + "text": "Gresham's Law is a concept that explains how people tend to use different types of currency in different ways when they are in circulation together.\n\nIf two forms of currency are given equal value by a government or other authority, but one is made of a more valuable material, people will be more likely to save the more valuable currency and spend the less valuable one.\n\nThis can happen when a government debases its currency, or makes it worth less, by decreasing the amount of valuable material it contains. The result is that people lose trust in the debased currency and prefer to hold onto the more valuable one instead.\n\nThis principle can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver, if the supply of the currency is increased in a way that makes it worth less.\n\nIn recent years, the emergence of bitcoin as a digital currency has led to a trend of people saving in bitcoin and spending their traditional currency, or \"fiat,\" more quickly. This is because bitcoin is seen as having a higher long-term value and being more stable than fiat currencies.\n", + "title": "Gresham's Law", + "type": "Text" + }, + { + "answers": [ + "A law that discusses what might happen if people and businesses refuse to accept or use a lower quality form of currency", + "A law that says people will always choose the more valuable currency when given a choice", + "A law that says people will always choose the less valuable currency when given a choice" + ], + "feedback": [ + "Correct! Good job, you understood Thier's Law. This law discusses what might happen if people and businesses refuse to accept a lower quality form of currency. Interesting fact: Thier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored", + "Wrong answer! Gresham's Law explains this behavior, not Thier's Law", + "Sorry, try again! Thier's Law is not about always choosing the less valuable currency." + ], + "id": "thiersLaw", + "question": "What is Thier's Law", + "text": "Thier's Law is a concept that discusses what might happen if people and businesses refused to accept or use a lower quality form of currency.\n\nInstead of disappearing from circulation, the higher quality form of money might be traded at a premium, or for a higher value than its face value.\n\nThier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored.\n\nIn other words, people and businesses may choose not to accept the lower quality currency and instead prefer to use the higher quality one or other forms of payment.\n", + "title": "Thier's Law", + "type": "Text" + }, + { + "answers": [ + "A phenomenon that occurs when new money is introduced into an economy, causing some prices to increase more than others and leading to an uneven distribution of wealth.", + "A mysterious force that causes people to turn into cantaloupes whenever they eat too much fruit.", + "A dance move that involves spinning around in circles while holding a bunch of cantaloupes." + ], + "feedback": [ + "Congratulations, you are correct! The Cantillon Effect is indeed a process that can influence the distribution of wealth in an economy. Good job", + "Sorry, but the Cantillon Effect doesn't have anything to do with fruit transformation. Better luck next time", + "Sorry, but the Cantillon Effect is not a dance move, no matter how much you love cantaloupes. Better luck next time!" + ], + "id": "cantillonEffect", + "question": "What is the Cantillon Effect", + "text": "The Cantillon Effect is a phenomenon that occurs when new money is introduced into an economy.\n\nWhen new money is added, it tends to go to certain people or businesses first, and these initial recipients have an advantage over others because they get to use the new money before prices go up.\n\nThis causes the prices of some goods and services to increase more than others, which means that the people who get the new money first benefit while those who get it later are disadvantaged.\n\nThis effect was first described by economist Richard Cantillon in the context of commodity money, such as gold and silver, but it is even more relevant today in the age of fiat money.\n\nWhen a government or central bank creates a lot of new fiat money, it can lead to increased prices and uneven distribution of wealth, as some people and businesses are able to access credit more easily and benefit from rising asset prices.\n", + "title": "The **** Cantillon Effect", + "type": "Text" + }, + { + "answers": [ + "A solution that people tend to choose by default in the absence of communication", + "A type of point system used in online multiplayer games", + "A point on the earth's surface where all the planet's magnetic forces are balanced" + ], + "feedback": [ + "You got it right. Did you know that a Schelling point can occur in multiplayer cooperative games and communication networks, and can be facilitated by standardized protocols like money", + "Wrong! But at least you're thinking about points. Maybe try again and focus on communication this time", + "Ha! You're off by a whole planet. Maybe try again and focus on the concept of default choices in the absence of communication." + ], + "id": "schellingPoint", + "question": "What is a Schelling point", + "text": "A Schelling point is a solution that people tend to choose by default, without communicating with each other.\n\nThis can happen in multiplayer cooperative games, where you have to anticipate the choices of others. If you make the wrong choice, you might face consequences or miss out on benefits.\n\nCommunication works the same way - it's like a multiplayer cooperative game played with others in the same network. We use standardized protocols (like email, spoken language, or money) to communicate efficiently with as many people as possible, with as little friction as possible. This can lead to increased trade, knowledge exchange, and innovation.\n\nIn the digital world, people tend to choose the same option (the Schelling point) when exchanging value. This is because they expect that others will also choose it.\n\nThe option that becomes the Schelling point is the one that communicates price signals most accurately, allowing market participants to coordinate with each other.\n\nBitcoin is a protocol for exchanging value that has several advantages over traditional currencies (called \"fiat\"). For example, it has a fixed supply and its value has generally increased over time, while fiat currencies often lose value. Additionally, the bitcoin network is permissionless, global, and indestructible. All of these factors make bitcoin a natural Schelling point for money.\n", + "title": "Schelling Point", + "type": "Text" + } + ], + "meta": { + "id": "BitcoinandEconomicsI", + "title": "Bitcoin and Economics I" + } +} diff --git a/chapter-601-bitcoin-and-economics-i/601-es-combined.json b/chapter-601-bitcoin-and-economics-i/601-es-combined.json new file mode 100644 index 0000000..71f6388 --- /dev/null +++ b/chapter-601-bitcoin-and-economics-i/601-es-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "Un recurso que est\u00e1 limitado en cantidad o disponibilidad y puede dar lugar a competencia por la posesi\u00f3n.", + "Un recurso abundante y f\u00e1cil de conseguir.", + "Un recurso que s\u00f3lo se puede obtener viajando en el tiempo." + ], + "feedback": [ + "Observaci\u00f3n:** \u00a1Correcto! Buen trabajo, entendiste el concepto de escasez. La escasez puede generar competencia y afectar el valor de los bienes y servicios en un mercado libre.", + "\u00a1Equivocado! Perd\u00f3n por reventar tu burbuja, pero si algo es f\u00e1cil de conseguir, no puede ser escaso.", + "\u00a1Equivocado! El viaje en el tiempo es una gran idea para una pel\u00edcula de ciencia ficci\u00f3n, pero no tiene nada que ver con la escasez de recursos." + ], + "id": "escasez", + "question": "\u00bfQu\u00e9 es un recurso escaso?", + "text": "Cuando no hay suficientes recursos para todos, las personas y las organizaciones compiten por ellos.\n\nEsta competencia a menudo se refleja en el precio de los bienes y servicios en un mercado libre. Si la demanda de un recurso en particular aumenta m\u00e1s r\u00e1pido que la oferta, puede volverse escaso y m\u00e1s valioso.\n\nEl dinero se utiliza a menudo como forma de comprar cosas porque es f\u00e1cil de intercambiar y es valioso porque es escaso. Bitcoin es una forma digital de dinero que tiene una oferta fija, lo que lo hace raro y valioso.\n\nLa idea de que nunca hay suficiente para todos es un principio b\u00e1sico de la econom\u00eda, pero a menudo se ignora en las decisiones pol\u00edticas.\n", + "title": "C\u00f3mo se asignan y compiten los recursos limitados", + "type": "Texto" + }, + { + "answers": [ + "La diferencia de valor entre el uso de algo como dinero y su valor para sus otros usos.", + "Una tarifa adicional agregada al precio de los bienes y servicios.", + "Una prima monetaria no tiene nada que ver con pagar extra por las cosas." + ], + "feedback": [ + "\u00a1Felicidades! Usted sabe lo que hace cuando se trata de primas monetarias. Una prima monetaria es el valor adicional que puede tener algo cuando se utiliza como sustituto del dinero. Buen trabajo", + "Lo lamento, \u00a1respuesta incorrecta! Una prima monetaria no tiene nada que ver con pagar extra por las cosas.", + "\u00a1No! Una prima monetaria no es un descuento, en realidad es todo lo contrario." + ], + "id": "prima monetaria", + "question": "\u00bfQu\u00e9 es una prima monetaria?", + "text": "Si el valor del dinero no se basa en su escasez, puede que no sea tan fiable como forma de almacenar riqueza. En este caso, otras cosas que son escasas, como activos o recursos, pueden volverse m\u00e1s valiosas y utilizarse como sustitutos del dinero.\n\nEste valor adicional se conoce como prima monetaria. Cuando la forma habitual de dinero no funciona bien, la gente puede recurrir a otras cosas que son raras o dif\u00edciles de obtener como forma de intercambiar valor.\n\nAlgunas formas hist\u00f3ricas de dinero no ten\u00edan otro uso o valor aparte de ser utilizadas como forma de intercambiar por otras cosas. La diferencia entre el valor de algo como dinero y su valor para otros usos es la prima monetaria.\n", + "title": "Prima monetaria", + "type": "Texto" + }, + { + "answers": [ + "Una ley que explica c\u00f3mo las personas tienden a utilizar diferentes tipos de moneda de diferentes maneras cuando est\u00e1n en circulaci\u00f3n juntas.", + "Una ley que dice que la gente siempre elegir\u00e1 gastar la moneda m\u00e1s valiosa cuando se le d\u00e9 la opci\u00f3n.", + "La Ley de Gresham en realidad explica el comportamiento opuesto." + ], + "feedback": [ + "Buen trabajo, entendiste la Ley de Gresham. Esta ley explica c\u00f3mo las personas tienden a ahorrar la moneda m\u00e1s valiosa y gastar la menos valiosa cuando se les da la opci\u00f3n. Dato interesante: la Ley de Gresham tambi\u00e9n se puede aplicar a la moneda \"fiduciaria\", que no est\u00e1 respaldada por un producto f\u00edsico como el oro o la plata.", + "Lo lamento, \u00a1respuesta incorrecta! La Ley de Gresham en realidad explica el comportamiento opuesto.", + "\u00a1Ja! Es una respuesta divertida, pero lamentablemente no es correcta." + ], + "id": "greshamsLey", + "question": "\u00bfQu\u00e9 es la ley de Gresham?", + "text": "La Ley de Gresham es un concepto que explica c\u00f3mo las personas tienden a utilizar diferentes tipos de moneda de diferentes maneras cuando est\u00e1n en circulaci\u00f3n juntas.\n\nSi un gobierno u otra autoridad otorga el mismo valor a dos formas de moneda, pero una est\u00e1 hecha de un material m\u00e1s valioso, ser\u00e1 m\u00e1s probable que la gente ahorre la moneda m\u00e1s valiosa y gaste la menos valiosa.\n\nEsto puede suceder cuando un gobierno degrada su moneda, o la hace valer menos, al disminuir la cantidad de material valioso que contiene. El resultado es que la gente pierde la confianza en la moneda degradada y prefiere conservar la m\u00e1s valiosa.\n\nEste principio tambi\u00e9n puede aplicarse a la moneda \"fiduciaria\", que no est\u00e1 respaldada por un producto f\u00edsico como el oro o la plata, si la oferta de la moneda aumenta de una manera que la haga valer menos.\n\nEn los \u00faltimos a\u00f1os, el surgimiento de bitcoin como moneda digital ha llevado a una tendencia a que las personas ahorren en bitcoin y gasten su moneda tradicional, o \"fiat\", m\u00e1s r\u00e1pidamente. Esto se debe a que se considera que bitcoin tiene un valor m\u00e1s alto a largo plazo y es m\u00e1s estable que las monedas fiduciarias.\n", + "title": "Ley de Gresham", + "type": "Texto" + }, + { + "answers": [ + "Una ley que analiza lo que podr\u00eda suceder si las personas y las empresas se niegan a aceptar o utilizar una forma de moneda de menor calidad.", + "Una ley que dice que la gente siempre elegir\u00e1 la moneda m\u00e1s valiosa cuando se le d\u00e9 la opci\u00f3n", + "Una ley que dice que la gente siempre elegir\u00e1 la moneda menos valiosa cuando se le d\u00e9 la opci\u00f3n" + ], + "feedback": [ + "\u00a1Correcto! Buen trabajo, entendiste la ley de Thier. Esta ley analiza lo que podr\u00eda suceder si las personas y las empresas se niegan a aceptar una forma de moneda de menor calidad. Dato interesante: la Ley de Thier sugiere que si un gobierno intenta obligar a la gente a utilizar una moneda de menor calidad convirti\u00e9ndola en moneda de curso legal, ser\u00e1 ignorada.", + "\u00a1Respuesta incorrecta! La Ley de Gresham explica este comportamiento, no la Ley de Thier", + "\u00a1Perd\u00f3n intente de nuevo! La Ley de Thier no consiste en elegir siempre la moneda menos valiosa." + ], + "id": "ThiersLaw", + "question": "\u00bfQu\u00e9 es la ley de Thier?", + "text": "La Ley de Thier es un concepto que analiza lo que podr\u00eda suceder si las personas y las empresas se negaran a aceptar o utilizar una forma de moneda de menor calidad.\n\nEn lugar de desaparecer de la circulaci\u00f3n, la forma de dinero de mayor calidad podr\u00eda comercializarse con una prima o por un valor superior a su valor nominal.\n\nLa Ley de Thier sugiere que si un gobierno intenta obligar a la gente a utilizar una moneda de menor calidad convirti\u00e9ndola en moneda de curso legal, ser\u00e1 ignorado.\n\nEn otras palabras, las personas y las empresas pueden optar por no aceptar la moneda de menor calidad y, en cambio, preferir utilizar una u otra forma de pago de mayor calidad.\n", + "title": "Ley de Thier", + "type": "Texto" + }, + { + "answers": [ + "Fen\u00f3meno que se produce cuando se introduce dinero nuevo en una econom\u00eda, lo que hace que algunos precios aumenten m\u00e1s que otros y provoque una distribuci\u00f3n desigual de la riqueza.", + "Una fuerza misteriosa que hace que las personas se conviertan en melones cada vez que comen demasiada fruta.", + "Un movimiento de baile que consiste en girar en c\u00edrculos mientras se sostiene un mont\u00f3n de melones." + ], + "feedback": [ + "\u00a1Felicidades, tienes raz\u00f3n! De hecho, el efecto Cantillon es un proceso que puede influir en la distribuci\u00f3n de la riqueza en una econom\u00eda. Buen trabajo", + "Lo sentimos, pero el Efecto Cantillon no tiene nada que ver con la transformaci\u00f3n de la fruta. Mejor suerte la pr\u00f3xima vez", + "Lo siento, pero el efecto Cantillon no es un movimiento de baile, por mucho que te gusten los melones. \u00a1Mejor suerte la pr\u00f3xima vez!" + ], + "id": "cantillonEfecto", + "question": "\u00bfQu\u00e9 es el efecto Cantillon?", + "text": "El efecto Cantillon es un fen\u00f3meno que ocurre cuando se introduce dinero nuevo en una econom\u00eda.\n\nCuando se agrega dinero nuevo, tiende a ir primero a ciertas personas o empresas, y estos destinatarios iniciales tienen una ventaja sobre otros porque pueden usar el dinero nuevo antes de que suban los precios.\n\nEsto hace que los precios de algunos bienes y servicios aumenten m\u00e1s que otros, lo que significa que las personas que obtienen el nuevo dinero primero se benefician, mientras que las que lo obtienen despu\u00e9s quedan en desventaja.\n\nEste efecto fue descrito por primera vez por el economista Richard Cantillon en el contexto del dinero-mercanc\u00edas, como el oro y la plata, pero es a\u00fan m\u00e1s relevante hoy en la era del dinero fiduciario.\n\nCuando un gobierno o un banco central crea una gran cantidad de dinero fiduciario nuevo, puede provocar un aumento de los precios y una distribuci\u00f3n desigual de la riqueza, ya que algunas personas y empresas pueden acceder al cr\u00e9dito m\u00e1s f\u00e1cilmente y beneficiarse del aumento de los precios de los activos.\n", + "title": "El maldito efecto Cantillon", + "type": "Texto" + }, + { + "answers": [ + "Una soluci\u00f3n que la gente suele elegir por defecto ante la falta de comunicaci\u00f3n", + "Un tipo de sistema de puntos utilizado en juegos multijugador en l\u00ednea.", + "Un punto de la superficie terrestre donde todas las fuerzas magn\u00e9ticas del planeta est\u00e1n equilibradas." + ], + "feedback": [ + "Lo hiciste bien. \u00bfSab\u00edas que un punto de Schelling puede ocurrir en juegos cooperativos multijugador y redes de comunicaci\u00f3n, y puede facilitarse mediante protocolos estandarizados como el dinero?", + "\u00a1Equivocado! Pero al menos est\u00e1s pensando en los puntos. Tal vez intente nuevamente y esta vez conc\u00e9ntrese en la comunicaci\u00f3n.", + "\u00a1Ja! Est\u00e1s alejado de todo un planeta. Tal vez intente nuevamente y conc\u00e9ntrese en el concepto de opciones predeterminadas en ausencia de comunicaci\u00f3n." + ], + "id": "punto de programaci\u00f3n", + "question": "\u00bfQu\u00e9 es un punto de Schelling?", + "text": "Un punto de Schelling es una soluci\u00f3n que la gente tiende a elegir por defecto, sin comunicarse entre s\u00ed.\n\nEsto puede suceder en juegos cooperativos multijugador, donde hay que anticipar las elecciones de los dem\u00e1s. Si toma la decisi\u00f3n equivocada, podr\u00eda enfrentar consecuencias o perder beneficios.\n\nLa comunicaci\u00f3n funciona de la misma manera: es como un juego cooperativo multijugador que se juega con otros en la misma red. Utilizamos protocolos estandarizados (como correo electr\u00f3nico, lenguaje hablado o dinero) para comunicarnos de manera eficiente con la mayor cantidad de personas posible, con la menor fricci\u00f3n posible. Esto puede conducir a un aumento del comercio, el intercambio de conocimientos y la innovaci\u00f3n.\n\nEn el mundo digital, la gente tiende a elegir la misma opci\u00f3n (el punto Schelling) a la hora de intercambiar valor. Esto se debe a que esperan que otros tambi\u00e9n lo elijan.\n\nLa opci\u00f3n que se convierte en el punto Schelling es la que comunica las se\u00f1ales de precios con mayor precisi\u00f3n, permitiendo a los participantes del mercado coordinarse entre s\u00ed.\n\nBitcoin es un protocolo para intercambiar valor que tiene varias ventajas sobre las monedas tradicionales (llamadas \"fiat\"). Por ejemplo, tiene una oferta fija y su valor generalmente ha aumentado con el tiempo, mientras que las monedas fiduciarias a menudo pierden valor. Adem\u00e1s, la red bitcoin no tiene permisos, es global e indestructible. Todos estos factores hacen de Bitcoin un punto de Schelling natural para el dinero.\n", + "title": "Punto de Schelling", + "type": "Texto" + } + ], + "meta": { + "id": "BitcoinyEconom\u00edaI", + "title": "Bitcoin y Econom\u00eda I" + } +} \ No newline at end of file diff --git a/chapter-601-bitcoin-and-economics-i/601.01-lesson-scarcity.json b/chapter-601-bitcoin-and-economics-i/601.01-lesson-scarcity.json new file mode 100644 index 0000000..998eaf3 --- /dev/null +++ b/chapter-601-bitcoin-and-economics-i/601.01-lesson-scarcity.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A resource that is limited in quantity or availability and can lead to competition for possession", + "A resource that is abundant and easy to come by", + "A resource that can only be obtained through time travel" + ], + "feedback": [ + "Remark:** Correct! Good job, you understood the concept of scarcity. Scarcity can lead to competition and can affect the value of goods and services in a free market", + "Wrong! Sorry to burst your bubble, but if something is easy to come by, it can't be scarce", + "Wrong! Time travel is a great idea for a sci-fi movie, but it doesn't have anything to do with scarce resources." + ], + "id": "scarcity", + "question": "What is a scarce resource", + "text": "When there are not enough resources to go around, people and organizations compete for them.\n\nThis competition is often reflected in the price of goods and services in a free market. If the demand for a particular resource increases faster than the supply, it can become scarce and more valuable.\n\nMoney is often used as a way to buy things because it is easy to trade and is valuable because it is scarce. Bitcoin is a digital form of money that has a fixed supply, which makes it rare and valuable.\n\nThe idea that there is never enough of something to go around is a basic principle of economics, but it is often ignored in political decisions.\n", + "title": "How limited resources are allocated and competed for", + "type": "Text" +} diff --git a/chapter-601-bitcoin-and-economics-i/601.02-lesson-monetary-premium.json b/chapter-601-bitcoin-and-economics-i/601.02-lesson-monetary-premium.json new file mode 100644 index 0000000..c58c5e0 --- /dev/null +++ b/chapter-601-bitcoin-and-economics-i/601.02-lesson-monetary-premium.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The difference in value between something's use as money and its value for its other uses", + "An extra fee added to the price of goods and services", + "A monetary premium has nothing to do with paying extra for things" + ], + "feedback": [ + "Congratulations! You know your stuff when it comes to monetary premiums. A monetary premium is the additional value that something can have when it is used as a substitute for money. Good job", + "Sorry, wrong answer! A monetary premium has nothing to do with paying extra for things", + "Nope! A monetary premium is not a discount, it's actually the opposite." + ], + "id": "monetaryPremium", + "question": "What is a monetary premium", + "text": "If the value of money is not based on its scarcity, it may not be as reliable as a way to store wealth. In this case, other things that are scarce, such as assets or resources, may become more valuable and be used as a substitute for money.\n\nThis additional value is known as a monetary premium. When the usual form of money is not working well, people may turn to other things that are rare or hard to obtain as a way to exchange value.\n\nSome historical forms of money had no other use or value besides being used as a way to trade for other things. The difference between the value of something as money and its value for its other uses is the monetary premium.\n", + "title": "Monetary Premium", + "type": "Text" +} diff --git a/chapter-601-bitcoin-and-economics-i/601.03-lesson-greshams-law.json b/chapter-601-bitcoin-and-economics-i/601.03-lesson-greshams-law.json new file mode 100644 index 0000000..c52b4bb --- /dev/null +++ b/chapter-601-bitcoin-and-economics-i/601.03-lesson-greshams-law.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A law that explains how people tend to use different types of currency in different ways when they are in circulation together", + "A law that says people will always choose to spend the more valuable currency when given a choice", + "Gresham's Law actually explains the opposite behavior" + ], + "feedback": [ + "Good job, you understood Gresham's Law. This law explains how people tend to save the more valuable currency and spend the less valuable one when given the choice. Interesting fact: Gresham's Law can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver", + "Sorry, wrong answer! Gresham's Law actually explains the opposite behavior", + "Ha! That's a funny answer, but unfortunately it's not correct." + ], + "id": "greshamsLaw", + "question": "What is Gresham's Law", + "text": "Gresham's Law is a concept that explains how people tend to use different types of currency in different ways when they are in circulation together.\n\nIf two forms of currency are given equal value by a government or other authority, but one is made of a more valuable material, people will be more likely to save the more valuable currency and spend the less valuable one.\n\nThis can happen when a government debases its currency, or makes it worth less, by decreasing the amount of valuable material it contains. The result is that people lose trust in the debased currency and prefer to hold onto the more valuable one instead.\n\nThis principle can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver, if the supply of the currency is increased in a way that makes it worth less.\n\nIn recent years, the emergence of bitcoin as a digital currency has led to a trend of people saving in bitcoin and spending their traditional currency, or \"fiat,\" more quickly. This is because bitcoin is seen as having a higher long-term value and being more stable than fiat currencies.\n", + "title": "Gresham's Law", + "type": "Text" +} diff --git a/chapter-601-bitcoin-and-economics-i/601.04-lesson-thiers-law.json b/chapter-601-bitcoin-and-economics-i/601.04-lesson-thiers-law.json new file mode 100644 index 0000000..a05589b --- /dev/null +++ b/chapter-601-bitcoin-and-economics-i/601.04-lesson-thiers-law.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A law that discusses what might happen if people and businesses refuse to accept or use a lower quality form of currency", + "A law that says people will always choose the more valuable currency when given a choice", + "A law that says people will always choose the less valuable currency when given a choice" + ], + "feedback": [ + "Correct! Good job, you understood Thier's Law. This law discusses what might happen if people and businesses refuse to accept a lower quality form of currency. Interesting fact: Thier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored", + "Wrong answer! Gresham's Law explains this behavior, not Thier's Law", + "Sorry, try again! Thier's Law is not about always choosing the less valuable currency." + ], + "id": "thiersLaw", + "question": "What is Thier's Law", + "text": "Thier's Law is a concept that discusses what might happen if people and businesses refused to accept or use a lower quality form of currency.\n\nInstead of disappearing from circulation, the higher quality form of money might be traded at a premium, or for a higher value than its face value.\n\nThier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored.\n\nIn other words, people and businesses may choose not to accept the lower quality currency and instead prefer to use the higher quality one or other forms of payment.\n", + "title": "Thier's Law", + "type": "Text" +} diff --git a/chapter-601-bitcoin-and-economics-i/601.05-lesson-cantillon-effect.json b/chapter-601-bitcoin-and-economics-i/601.05-lesson-cantillon-effect.json new file mode 100644 index 0000000..a156857 --- /dev/null +++ b/chapter-601-bitcoin-and-economics-i/601.05-lesson-cantillon-effect.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A phenomenon that occurs when new money is introduced into an economy, causing some prices to increase more than others and leading to an uneven distribution of wealth.", + "A mysterious force that causes people to turn into cantaloupes whenever they eat too much fruit.", + "A dance move that involves spinning around in circles while holding a bunch of cantaloupes." + ], + "feedback": [ + "Congratulations, you are correct! The Cantillon Effect is indeed a process that can influence the distribution of wealth in an economy. Good job", + "Sorry, but the Cantillon Effect doesn't have anything to do with fruit transformation. Better luck next time", + "Sorry, but the Cantillon Effect is not a dance move, no matter how much you love cantaloupes. Better luck next time!" + ], + "id": "cantillonEffect", + "question": "What is the Cantillon Effect", + "text": "The Cantillon Effect is a phenomenon that occurs when new money is introduced into an economy.\n\nWhen new money is added, it tends to go to certain people or businesses first, and these initial recipients have an advantage over others because they get to use the new money before prices go up.\n\nThis causes the prices of some goods and services to increase more than others, which means that the people who get the new money first benefit while those who get it later are disadvantaged.\n\nThis effect was first described by economist Richard Cantillon in the context of commodity money, such as gold and silver, but it is even more relevant today in the age of fiat money.\n\nWhen a government or central bank creates a lot of new fiat money, it can lead to increased prices and uneven distribution of wealth, as some people and businesses are able to access credit more easily and benefit from rising asset prices.\n", + "title": "The **** Cantillon Effect", + "type": "Text" +} diff --git a/chapter-601-bitcoin-and-economics-i/601.06-lesson-schelling-point.json b/chapter-601-bitcoin-and-economics-i/601.06-lesson-schelling-point.json new file mode 100644 index 0000000..24f82e7 --- /dev/null +++ b/chapter-601-bitcoin-and-economics-i/601.06-lesson-schelling-point.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A solution that people tend to choose by default in the absence of communication", + "A type of point system used in online multiplayer games", + "A point on the earth's surface where all the planet's magnetic forces are balanced" + ], + "feedback": [ + "You got it right. Did you know that a Schelling point can occur in multiplayer cooperative games and communication networks, and can be facilitated by standardized protocols like money", + "Wrong! But at least you're thinking about points. Maybe try again and focus on communication this time", + "Ha! You're off by a whole planet. Maybe try again and focus on the concept of default choices in the absence of communication." + ], + "id": "schellingPoint", + "question": "What is a Schelling point", + "text": "A Schelling point is a solution that people tend to choose by default, without communicating with each other.\n\nThis can happen in multiplayer cooperative games, where you have to anticipate the choices of others. If you make the wrong choice, you might face consequences or miss out on benefits.\n\nCommunication works the same way - it's like a multiplayer cooperative game played with others in the same network. We use standardized protocols (like email, spoken language, or money) to communicate efficiently with as many people as possible, with as little friction as possible. This can lead to increased trade, knowledge exchange, and innovation.\n\nIn the digital world, people tend to choose the same option (the Schelling point) when exchanging value. This is because they expect that others will also choose it.\n\nThe option that becomes the Schelling point is the one that communicates price signals most accurately, allowing market participants to coordinate with each other.\n\nBitcoin is a protocol for exchanging value that has several advantages over traditional currencies (called \"fiat\"). For example, it has a fixed supply and its value has generally increased over time, while fiat currencies often lose value. Additionally, the bitcoin network is permissionless, global, and indestructible. All of these factors make bitcoin a natural Schelling point for money.\n", + "title": "Schelling Point", + "type": "Text" +} diff --git a/chapter-602-bitcoin-and-economics-ii/602-combined.json b/chapter-602-bitcoin-and-economics-ii/602-combined.json new file mode 100644 index 0000000..3c696f5 --- /dev/null +++ b/chapter-602-bitcoin-and-economics-ii/602-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "The cost of not being able to do something else when you choose to do one thing", + "A type of cost that only applies to business owners", + "The cost of buying a new car" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that opportunity cost can help you make better financial decisions by considering the trade-offs involved in different options", + "Wrong! Opportunity cost applies to anyone who makes a choice, not just business owners. Maybe try again and think about the trade-offs involved in decision-making", + "Ha! That's not quite right. The cost of buying a new car is a specific type of expense, not the same thing as opportunity cost. Maybe try again and think about the concept of trade-offs in decision-making." + ], + "id": "opportunityCost", + "question": "What is opportunity cost", + "text": "Opportunity cost is the idea that when you choose to do one thing, you can't do something else instead. In other words, every time you make a financial decision, you have to trade off one option for another.\n\nBitcoin can help you make better financial decisions in the long term because it's a good way to store value (like saving money). This means that if you choose to invest in bitcoin, you might have to give up using that money for other things or opportunities. But if you hold onto your bitcoin, it has the potential to increase in value over time.\n\nThis is especially important right now because the traditional monetary system (called \"fiat\") is not a reliable way to save money - it's designed in a way that causes the value of money to go down over time. So, it's important to make careful financial decisions to preserve your wealth.\n", + "title": "Opportunity Cost", + "type": "Text" + }, + { + "answers": [ + "The amount of value you place on the present versus the future", + "A preference for doing things at a specific time of day", + "A preference for traveling through time" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that there are many factors that can influence your time preference, such as personal safety, tax rates, property rights, and the ability to store value reliably", + "Wrong! Time preference has to do with decision-making, not a specific time of day. Maybe try again and think about how the time horizon you're operating on can affect your choices", + "Ha! Time travel is still just science fiction, sorry. Maybe try again and think about how the time horizon you're operating on can affect your choices." + ], + "id": "timePreference", + "question": "What is time preference", + "text": "Time preference is the idea that the amount of time you have to wait for something to happen can affect the decisions you make.\n\nFor example, if you value the present more than the future, you might be more likely to choose something that gives you immediate gratification.\n\nOn the other hand, if you value the future more, you might be willing to wait longer for something that has a bigger benefit in the long term.\n\nThere are many factors that can influence your time preference, such as your personal safety, tax rates, property rights, and the ability to store value reliably.\n\nThe \"hardness\" of money (how well it holds its value over time) is also important because it can encourage people to save, plan, and invest for the future. It's important to note that time preference is not a fixed thing - it can change based on the incentives in your environment.\n", + "title": "Time Preference", + "type": "Text" + }, + { + "answers": [ + "As perfectly mobile capital, Bitcoin alters the logic of sovereign nations to direct international monetary policy by making capital controls impossible to enforce.", + "Due to its fixed supply, the existence of Bitcoin makes it easier for sovereign nations to set fixed exchange rates.", + "Governments will restrict discussion of the Mundell-Fleming Trilemma because speech is easier to censor than cross-border payments." + ], + "feedback": [ + "enforce.", + "The 21 million cap is indeed quite fascinating, but the existence of Bitcoin actually makes it more difficult for nations to set fixed exchange rates. Try again", + "While that's entirely possible of course, that's not the most likeliest outcome here. Try again!" + ], + "id": "impossibleTrinity", + "question": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?", + "text": "The Impossible Trinity, also known as the Mundell-Fleming Trilemma, is a concept that explains the trade-offs involved in setting international monetary policy for a sovereign nation.\n\nIt says that a country can only choose two of the following three options: fixed exchange rates, free capital flows, and independent monetary policy.\n\n These three options cannot be pursued at the same time. This is because a country's capital flows, or the movement of money in and out of the country, can be influenced by the value of its currency and its monetary policy, which sets the rules for how much money is in circulation.\n\n As capital becomes more mobile and can move freely across borders, it is harder for a country to control and direct its capital flows. The rise of bitcoin, a digital currency that is borderless and immune to changes in value, may further challenge a country's ability to set monetary policy.\n", + "title": "The Impossible Trinity", + "type": "Text" + }, + { + "answers": [ + "The phenomenon of increased consumption of a resource due to increased efficiency", + "A type of fruit named after an economist", + "A paradox that states that the more we have of something, the less we want it" + ], + "feedback": [ + "Correct! Well done, you have a firm understanding of the Jevons Paradox. Fun fact: The phenomenon is named after William Stanley Jevons, an English economist who first described it in the 19th century", + "Wrong! Sorry, there is no such thing as a Jevons fruit. You'll have to find your sustenance elsewhere", + "Sorry, that's not quite right. The Jevons Paradox actually states that increased efficiency can lead to increased consumption, not decreased desire for a resource. But hey, at least you're thinking paradoxically!" + ], + "id": "jevonsParadox", + "question": "What is the Jevons Paradox", + "text": "The Jevons Paradox is a phenomenon that occurs when we use more of a resource, even when we are using it more efficiently. This happens because increased efficiency often leads to lower costs, which can increase demand for the resource.\n\nOne example of this is the use of coal as an energy source. In the late 1700s, people thought that coal deposits were running out, but James Watt's steam engine made it possible to use coal more efficiently. This led to an increase in the demand for coal, even though it was being used more efficiently. The relationship between energy and money is also important to consider.\n\nSome people have proposed using energy as a measure of value for money, but this has not been successful in practice. Bitcoin, on the other hand, uses a system called proof of work, which incentivizes people to use energy efficiently in order to earn rewards.\n\nWhile some people criticize the use of energy in this way, it is important to remember that humans are constantly finding new ways to generate energy, and we should not assume that energy is a fixed or limited resource.\n", + "title": "Jevons Paradox", + "type": "Text" + }, + { + "answers": [ + "A power law in economics", + "A type of pasta dish", + "A way to fold laundry" + ], + "feedback": [ + "Good job! The Pareto principle, also known as the 80/20 rule, is a power law that explains how a small amount of something (like 20% of producers) can have a big impact (like 80% of the market share).", + "Sorry, but it looks like you need to brush up on your economics and not your culinary skills. The Pareto principle is not a type of pasta, although it might be a tasty way to remember it", + "I'm afraid you're going to have to put away the laundry and pay a little more attention to economics. The Pareto principle is not a way to fold clothes, but it is a useful way to understand how small changes in one thing can lead to bigger changes in another." + ], + "id": "powerLaws", + "question": "What is the Pareto principle, also known as the 80/20 rule, an example of", + "text": "Power laws are a way to understand how two things are related. When one thing changes, the other thing changes in a way that is related to the first change. Power laws can show up in different areas, like language, biology, and space. Small changes in one thing can often lead to bigger changes in the other thing.\n\nIn economics, power laws are often shown in graphs. One example of a power law is the Pareto principle, which says that about 80% of the results come from 20% of the things that cause them. In a market, this might mean that 20% of the producers make up 80% of the market.\n\nPower laws can also be seen in other parts of bitcoin, like how much power mining pools have or how many hardware wallets different companies sell. They can also be seen in how bitcoin is distributed among different addresses.\n", + "title": "Power Laws", + "type": "Text" + }, + { + "answers": [ + "Because it is the most liquid and the best way to store value", + "Because it tastes the best", + "Because it has the prettiest color" + ], + "feedback": [ + "You got it right. The main reason that people usually agree on using one type of money in a certain area is because it is the most liquid and the best way to store value", + "I'm afraid you might be confusing money with your favorite flavor of ice cream. Try again", + "Sorry, but the color of money is not the most important factor in determining which type to use. Better luck next time!" + ], + "id": "winnerTakeAll", + "question": "What is the main reason that people usually agree on using one type of money in a certain area", + "text": "The concept of winner-take-all effects is when only one product or service is the best and everyone wants to use it. This can happen in markets where a small advantage can lead to getting all of the business.\n\nMoney is a network like this, where only one type of money is used in a certain area because it is the most useful and has the most options for trading with other people. This happens because people want to use the money that will give them the most options and be the most useful in a lot of different situations.\n\nMoney is also a good way to store value over a long time. When it comes to monetary systems, people usually agree on using one type of money because it is the most liquid, or easiest to use, and it is the best way to store value.\n", + "title": "Winner-Take-All Effects", + "type": "Text" + } + ], + "meta": { + "id": "BitcoinandEconomicsII", + "title": "Bitcoin and Economics II" + } +} diff --git a/chapter-602-bitcoin-and-economics-ii/602-es-combined.json b/chapter-602-bitcoin-and-economics-ii/602-es-combined.json new file mode 100644 index 0000000..f4bbf80 --- /dev/null +++ b/chapter-602-bitcoin-and-economics-ii/602-es-combined.json @@ -0,0 +1,110 @@ +{ + "content": [ + { + "answers": [ + "El costo de no poder hacer otra cosa cuando eliges hacer una cosa", + "Un tipo de costo que solo se aplica a los due\u00f1os de negocios.", + "El costo de comprar un auto nuevo." + ], + "feedback": [ + "\u00a1Felicidades! Lo hiciste bien. \u00bfSab\u00eda que el costo de oportunidad puede ayudarle a tomar mejores decisiones financieras al considerar las compensaciones involucradas en diferentes opciones?", + "\u00a1Equivocado! El costo de oportunidad se aplica a cualquiera que tome una decisi\u00f3n, no s\u00f3lo a los due\u00f1os de negocios. Tal vez intente nuevamente y piense en las compensaciones involucradas en la toma de decisiones.", + "\u00a1Ja! Eso no es del todo bien. El costo de comprar un autom\u00f3vil nuevo es un tipo espec\u00edfico de gasto, no es lo mismo que el costo de oportunidad. Tal vez intente nuevamente y piense en el concepto de compensaciones en la toma de decisiones." + ], + "id": "costo de oportunidad", + "question": "\u00bfQu\u00e9 es el costo de oportunidad?", + "text": "El costo de oportunidad es la idea de que cuando eliges hacer una cosa, no puedes hacer otra. En otras palabras, cada vez que tomas una decisi\u00f3n financiera, tienes que intercambiar una opci\u00f3n por otra.\n\nBitcoin puede ayudarle a tomar mejores decisiones financieras a largo plazo porque es una buena forma de almacenar valor (como ahorrar dinero). Esto significa que si eliges invertir en bitcoins, es posible que tengas que dejar de usar ese dinero para otras cosas u oportunidades. Pero si conserva su bitcoin, tiene el potencial de aumentar su valor con el tiempo.\n\nEsto es especialmente importante en este momento porque el sistema monetario tradicional (llamado \"fiat\") no es una forma confiable de ahorrar dinero: est\u00e1 dise\u00f1ado de una manera que hace que el valor del dinero baje con el tiempo. Por eso, es importante tomar decisiones financieras cuidadosas para preservar su patrimonio.\n", + "title": "Costo de oportunidad", + "type": "Texto" + }, + { + "answers": [ + "La cantidad de valor que le das al presente frente al futuro.", + "Preferencia por hacer las cosas a una hora espec\u00edfica del d\u00eda.", + "Preferencia por viajar en el tiempo" + ], + "feedback": [ + "\u00a1Felicidades! Lo hiciste bien. \u00bfSab\u00eda que hay muchos factores que pueden influir en su preferencia temporal, como la seguridad personal, las tasas impositivas, los derechos de propiedad y la capacidad de almacenar valor de manera confiable?", + "\u00a1Equivocado! La preferencia horaria tiene que ver con la toma de decisiones, no con una hora espec\u00edfica del d\u00eda. Tal vez intente nuevamente y piense en c\u00f3mo el horizonte temporal en el que est\u00e1 operando puede afectar sus elecciones.", + "\u00a1Ja! Los viajes en el tiempo siguen siendo ciencia ficci\u00f3n, lo siento. Tal vez intente nuevamente y piense en c\u00f3mo el horizonte temporal en el que est\u00e1 operando puede afectar sus elecciones." + ], + "id": "preferencia de tiempo", + "question": "\u00bfQu\u00e9 es la preferencia temporal?", + "text": "La preferencia temporal es la idea de que la cantidad de tiempo que tienes que esperar hasta que suceda algo puede afectar las decisiones que tomas.\n\nPor ejemplo, si valoras m\u00e1s el presente que el futuro, es m\u00e1s probable que elijas algo que te proporcione una gratificaci\u00f3n inmediata.\n\nPor otro lado, si valoras m\u00e1s el futuro, es posible que est\u00e9s dispuesto a esperar m\u00e1s por algo que tenga un mayor beneficio a largo plazo.\n\nHay muchos factores que pueden influir en su preferencia temporal, como su seguridad personal, tasas impositivas, derechos de propiedad y la capacidad de almacenar valor de manera confiable.\n\nLa \"dureza\" del dinero (qu\u00e9 tan bien mantiene su valor en el tiempo) tambi\u00e9n es importante porque puede alentar a las personas a ahorrar, planificar e invertir para el futuro. Es importante tener en cuenta que la preferencia temporal no es algo fijo: puede cambiar seg\u00fan los incentivos de su entorno.\n", + "title": "Preferencia de tiempo", + "type": "Texto" + }, + { + "answers": [ + "Como capital perfectamente m\u00f3vil, Bitcoin altera la l\u00f3gica de las naciones soberanas para dirigir la pol\u00edtica monetaria internacional al hacer que los controles de capital sean imposibles de aplicar.", + "Debido a su oferta fija, la existencia de Bitcoin facilita que las naciones soberanas establezcan tipos de cambio fijos.", + "Los gobiernos restringir\u00e1n la discusi\u00f3n sobre el trilema Mundell-Fleming porque la expresi\u00f3n es m\u00e1s f\u00e1cil de censurar que los pagos transfronterizos." + ], + "feedback": [ + "hacer cumplir.", + "El l\u00edmite de 21 millones es realmente fascinante, pero la existencia de Bitcoin en realidad hace que sea m\u00e1s dif\u00edcil para las naciones establecer tipos de cambio fijos. Intentar otra vez", + "Si bien eso es completamente posible, por supuesto, no es el resultado m\u00e1s probable en este caso. \u00a1Intentar otra vez!" + ], + "id": "imposibleTrinidad", + "question": "\u00bfC\u00f3mo afecta la existencia de Bitcoin al trilema Mundell-Fleming?", + "text": "La Trinidad Imposible, tambi\u00e9n conocida como el Trilema Mundell-Fleming, es un concepto que explica las compensaciones involucradas en el establecimiento de la pol\u00edtica monetaria internacional para una naci\u00f3n soberana.\n\nDice que un pa\u00eds s\u00f3lo puede elegir dos de las tres opciones siguientes: tipos de cambio fijos, flujos de capital libres y pol\u00edtica monetaria independiente.\n\n Estas tres opciones no pueden perseguirse al mismo tiempo. Esto se debe a que los flujos de capital de un pa\u00eds, o el movimiento de dinero dentro y fuera del pa\u00eds, pueden verse influenciados por el valor de su moneda y su pol\u00edtica monetaria, que establece las reglas sobre cu\u00e1nto dinero est\u00e1 en circulaci\u00f3n.\n\n A medida que el capital se vuelve m\u00e1s m\u00f3vil y puede moverse libremente a trav\u00e9s de las fronteras, a un pa\u00eds le resulta m\u00e1s dif\u00edcil controlar y dirigir sus flujos de capital. El auge del bitcoin, una moneda digital sin fronteras e inmune a los cambios de valor, puede desafiar a\u00fan m\u00e1s la capacidad de un pa\u00eds para establecer una pol\u00edtica monetaria.\n", + "title": "La Trinidad imposible", + "type": "Texto" + }, + { + "answers": [ + "El fen\u00f3meno del mayor consumo de un recurso debido a una mayor eficiencia.", + "Un tipo de fruta que lleva el nombre de un economista.", + "Una paradoja que afirma que cuanto m\u00e1s tenemos de algo, menos lo queremos" + ], + "feedback": [ + "\u00a1Correcto! Bien hecho, tienes un conocimiento firme de la paradoja de Jevons. Dato curioso: el fen\u00f3meno lleva el nombre de William Stanley Jevons, un economista ingl\u00e9s que lo describi\u00f3 por primera vez en el siglo XIX.", + "\u00a1Equivocado! Lo sentimos, no existe la fruta Jevons. Tendr\u00e1s que encontrar tu sustento en otra parte.", + "Lo siento, eso no est\u00e1 del todo bien. La paradoja de Jevons en realidad afirma que una mayor eficiencia puede conducir a un mayor consumo, no a una disminuci\u00f3n del deseo de un recurso. Pero bueno, \u00a1al menos est\u00e1s pensando parad\u00f3jicamente!" + ], + "id": "jevonsParadoja", + "question": "\u00bfQu\u00e9 es la paradoja de Jevons?", + "text": "La paradoja de Jevons es un fen\u00f3meno que ocurre cuando usamos m\u00e1s un recurso, incluso cuando lo estamos usando de manera m\u00e1s eficiente. Esto sucede porque una mayor eficiencia a menudo conduce a menores costos, lo que puede aumentar la demanda del recurso.\n\nUn ejemplo de esto es el uso del carb\u00f3n como fuente de energ\u00eda. A finales del siglo XVIII, la gente pensaba que los dep\u00f3sitos de carb\u00f3n se estaban agotando, pero la m\u00e1quina de vapor de James Watt hizo posible utilizar el carb\u00f3n de manera m\u00e1s eficiente. Esto provoc\u00f3 un aumento de la demanda de carb\u00f3n, a pesar de que se utilizaba de forma m\u00e1s eficiente. Tambi\u00e9n es importante considerar la relaci\u00f3n entre energ\u00eda y dinero.\n\nAlgunas personas han propuesto utilizar la energ\u00eda como medida del valor del dinero, pero esto no ha tenido \u00e9xito en la pr\u00e1ctica. Bitcoin, por otro lado, utiliza un sistema llamado prueba de trabajo, que incentiva a las personas a usar la energ\u00eda de manera eficiente para obtener recompensas.\n\nSi bien algunas personas critican el uso de la energ\u00eda de esta manera, es importante recordar que los humanos constantemente encontramos nuevas formas de generar energ\u00eda y no debemos asumir que la energ\u00eda es un recurso fijo o limitado.\n", + "title": "Paradoja de Jevons", + "type": "Texto" + }, + { + "answers": [ + "Una ley de potencia en econom\u00eda.", + "Un tipo de plato de pasta.", + "Una forma de doblar la ropa" + ], + "feedback": [ + "\u00a1Buen trabajo! El principio de Pareto, tambi\u00e9n conocido como regla 80\/20, es una ley potencial que explica c\u00f3mo una peque\u00f1a cantidad de algo (como el 20% de los productores) puede tener un gran impacto (como el 80% de la cuota de mercado).", + "Lo siento, pero parece que necesitas repasar tus habilidades econ\u00f3micas y no tus habilidades culinarias. El principio de Pareto no es un tipo de pasta, aunque puede ser una forma sabrosa de recordarlo", + "Me temo que tendr\u00e1s que guardar la ropa y prestar un poco m\u00e1s de atenci\u00f3n a la econom\u00eda. El principio de Pareto no es una forma de doblar la ropa, pero es una forma \u00fatil de comprender c\u00f3mo peque\u00f1os cambios en una cosa pueden conducir a cambios mayores en otra." + ], + "id": "poderLeyes", + "question": "\u00bfQu\u00e9 es el principio de Pareto, tambi\u00e9n conocido como regla 80\/20, un ejemplo de", + "text": "Las leyes de potencia son una forma de entender c\u00f3mo se relacionan dos cosas. Cuando una cosa cambia, la otra cambia de una manera relacionada con el primer cambio. Las leyes de potencia pueden aparecer en diferentes \u00e1reas, como el lenguaje, la biolog\u00eda y el espacio. Peque\u00f1os cambios en una cosa a menudo pueden conducir a cambios mayores en otra cosa.\n\nEn econom\u00eda, las leyes de potencia a menudo se muestran en gr\u00e1ficos. Un ejemplo de ley potencial es el principio de Pareto, que dice que alrededor del 80% de los resultados provienen del 20% de las cosas que los causan. En un mercado, esto podr\u00eda significar que el 20% de los productores constituyen el 80% del mercado.\n\nLas leyes de energ\u00eda tambi\u00e9n se pueden ver en otras partes de bitcoin, como la cantidad de energ\u00eda que tienen los grupos de miner\u00eda o la cantidad de billeteras de hardware que venden las diferentes empresas. Tambi\u00e9n se pueden ver en c\u00f3mo se distribuye bitcoin entre diferentes direcciones.\n", + "title": "Leyes de poder", + "type": "Texto" + }, + { + "answers": [ + "Porque es la forma m\u00e1s l\u00edquida y la mejor de almacenar valor.", + "Porque sabe mejor", + "Porque tiene el color m\u00e1s bonito." + ], + "feedback": [ + "Lo hiciste bien. La raz\u00f3n principal por la que la gente suele estar de acuerdo en usar un tipo de dinero en un \u00e1rea determinada es porque es la forma m\u00e1s l\u00edquida y mejor de almacenar valor.", + "Me temo que podr\u00edas estar confundiendo dinero con tu sabor de helado favorito. Intentar otra vez", + "Lo sentimos, pero el color del dinero no es el factor m\u00e1s importante para determinar qu\u00e9 tipo usar. \u00a1Mejor suerte la pr\u00f3xima vez!" + ], + "id": "El ganador lo toma todo", + "question": "\u00bfCu\u00e1l es la raz\u00f3n principal por la que la gente suele estar de acuerdo en utilizar un tipo de dinero en un \u00e1rea determinada?", + "text": "El concepto de efectos en el que el ganador se lo lleva todo se produce cuando s\u00f3lo un producto o servicio es el mejor y todos quieren utilizarlo. Esto puede suceder en mercados donde una peque\u00f1a ventaja puede llevar a quedarse con todo el negocio.\n\nEl dinero es una red como esta, donde solo se usa un tipo de dinero en un \u00e1rea determinada porque es el m\u00e1s \u00fatil y tiene m\u00e1s opciones para comerciar con otras personas. Esto sucede porque las personas quieren utilizar el dinero que les brinde m\u00e1s opciones y que sea m\u00e1s \u00fatil en muchas situaciones diferentes.\n\nEl dinero tambi\u00e9n es una buena manera de almacenar valor durante mucho tiempo. Cuando se trata de sistemas monetarios, la gente suele estar de acuerdo en utilizar un tipo de dinero porque es el m\u00e1s l\u00edquido o el m\u00e1s f\u00e1cil de usar, y es la mejor manera de almacenar valor.\n", + "title": "Efectos de que el ganador se lo lleva todo", + "type": "Texto" + } + ], + "meta": { + "id": "BitcoinyEconom\u00edaII", + "title": "Bitcoin y Econom\u00eda II" + } +} \ No newline at end of file diff --git a/chapter-602-bitcoin-and-economics-ii/602.01-lesson-opportunity-cost.json b/chapter-602-bitcoin-and-economics-ii/602.01-lesson-opportunity-cost.json new file mode 100644 index 0000000..7cae4a7 --- /dev/null +++ b/chapter-602-bitcoin-and-economics-ii/602.01-lesson-opportunity-cost.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The cost of not being able to do something else when you choose to do one thing", + "A type of cost that only applies to business owners", + "The cost of buying a new car" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that opportunity cost can help you make better financial decisions by considering the trade-offs involved in different options", + "Wrong! Opportunity cost applies to anyone who makes a choice, not just business owners. Maybe try again and think about the trade-offs involved in decision-making", + "Ha! That's not quite right. The cost of buying a new car is a specific type of expense, not the same thing as opportunity cost. Maybe try again and think about the concept of trade-offs in decision-making." + ], + "id": "opportunityCost", + "question": "What is opportunity cost", + "text": "Opportunity cost is the idea that when you choose to do one thing, you can't do something else instead. In other words, every time you make a financial decision, you have to trade off one option for another.\n\nBitcoin can help you make better financial decisions in the long term because it's a good way to store value (like saving money). This means that if you choose to invest in bitcoin, you might have to give up using that money for other things or opportunities. But if you hold onto your bitcoin, it has the potential to increase in value over time.\n\nThis is especially important right now because the traditional monetary system (called \"fiat\") is not a reliable way to save money - it's designed in a way that causes the value of money to go down over time. So, it's important to make careful financial decisions to preserve your wealth.\n", + "title": "Opportunity Cost", + "type": "Text" +} diff --git a/chapter-602-bitcoin-and-economics-ii/602.02-lesson-time-preference.json b/chapter-602-bitcoin-and-economics-ii/602.02-lesson-time-preference.json new file mode 100644 index 0000000..ededeb8 --- /dev/null +++ b/chapter-602-bitcoin-and-economics-ii/602.02-lesson-time-preference.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The amount of value you place on the present versus the future", + "A preference for doing things at a specific time of day", + "A preference for traveling through time" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that there are many factors that can influence your time preference, such as personal safety, tax rates, property rights, and the ability to store value reliably", + "Wrong! Time preference has to do with decision-making, not a specific time of day. Maybe try again and think about how the time horizon you're operating on can affect your choices", + "Ha! Time travel is still just science fiction, sorry. Maybe try again and think about how the time horizon you're operating on can affect your choices." + ], + "id": "timePreference", + "question": "What is time preference", + "text": "Time preference is the idea that the amount of time you have to wait for something to happen can affect the decisions you make.\n\nFor example, if you value the present more than the future, you might be more likely to choose something that gives you immediate gratification.\n\nOn the other hand, if you value the future more, you might be willing to wait longer for something that has a bigger benefit in the long term.\n\nThere are many factors that can influence your time preference, such as your personal safety, tax rates, property rights, and the ability to store value reliably.\n\nThe \"hardness\" of money (how well it holds its value over time) is also important because it can encourage people to save, plan, and invest for the future. It's important to note that time preference is not a fixed thing - it can change based on the incentives in your environment.\n", + "title": "Time Preference", + "type": "Text" +} diff --git a/chapter-602-bitcoin-and-economics-ii/602.03-lesson-impossible-trinity.json b/chapter-602-bitcoin-and-economics-ii/602.03-lesson-impossible-trinity.json new file mode 100644 index 0000000..1a78d39 --- /dev/null +++ b/chapter-602-bitcoin-and-economics-ii/602.03-lesson-impossible-trinity.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "As perfectly mobile capital, Bitcoin alters the logic of sovereign nations to direct international monetary policy by making capital controls impossible to enforce.", + "Due to its fixed supply, the existence of Bitcoin makes it easier for sovereign nations to set fixed exchange rates.", + "Governments will restrict discussion of the Mundell-Fleming Trilemma because speech is easier to censor than cross-border payments." + ], + "feedback": [ + "enforce.", + "The 21 million cap is indeed quite fascinating, but the existence of Bitcoin actually makes it more difficult for nations to set fixed exchange rates. Try again", + "While that's entirely possible of course, that's not the most likeliest outcome here. Try again!" + ], + "id": "impossibleTrinity", + "question": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?", + "text": "The Impossible Trinity, also known as the Mundell-Fleming Trilemma, is a concept that explains the trade-offs involved in setting international monetary policy for a sovereign nation.\n\nIt says that a country can only choose two of the following three options: fixed exchange rates, free capital flows, and independent monetary policy.\n\n These three options cannot be pursued at the same time. This is because a country's capital flows, or the movement of money in and out of the country, can be influenced by the value of its currency and its monetary policy, which sets the rules for how much money is in circulation.\n\n As capital becomes more mobile and can move freely across borders, it is harder for a country to control and direct its capital flows. The rise of bitcoin, a digital currency that is borderless and immune to changes in value, may further challenge a country's ability to set monetary policy.\n", + "title": "The Impossible Trinity", + "type": "Text" +} diff --git a/chapter-602-bitcoin-and-economics-ii/602.04-lesson-jevons-paradox.json b/chapter-602-bitcoin-and-economics-ii/602.04-lesson-jevons-paradox.json new file mode 100644 index 0000000..f03b493 --- /dev/null +++ b/chapter-602-bitcoin-and-economics-ii/602.04-lesson-jevons-paradox.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The phenomenon of increased consumption of a resource due to increased efficiency", + "A type of fruit named after an economist", + "A paradox that states that the more we have of something, the less we want it" + ], + "feedback": [ + "Correct! Well done, you have a firm understanding of the Jevons Paradox. Fun fact: The phenomenon is named after William Stanley Jevons, an English economist who first described it in the 19th century", + "Wrong! Sorry, there is no such thing as a Jevons fruit. You'll have to find your sustenance elsewhere", + "Sorry, that's not quite right. The Jevons Paradox actually states that increased efficiency can lead to increased consumption, not decreased desire for a resource. But hey, at least you're thinking paradoxically!" + ], + "id": "jevonsParadox", + "question": "What is the Jevons Paradox", + "text": "The Jevons Paradox is a phenomenon that occurs when we use more of a resource, even when we are using it more efficiently. This happens because increased efficiency often leads to lower costs, which can increase demand for the resource.\n\nOne example of this is the use of coal as an energy source. In the late 1700s, people thought that coal deposits were running out, but James Watt's steam engine made it possible to use coal more efficiently. This led to an increase in the demand for coal, even though it was being used more efficiently. The relationship between energy and money is also important to consider.\n\nSome people have proposed using energy as a measure of value for money, but this has not been successful in practice. Bitcoin, on the other hand, uses a system called proof of work, which incentivizes people to use energy efficiently in order to earn rewards.\n\nWhile some people criticize the use of energy in this way, it is important to remember that humans are constantly finding new ways to generate energy, and we should not assume that energy is a fixed or limited resource.\n", + "title": "Jevons Paradox", + "type": "Text" +} diff --git a/chapter-602-bitcoin-and-economics-ii/602.05-lesson-powerlaws.json b/chapter-602-bitcoin-and-economics-ii/602.05-lesson-powerlaws.json new file mode 100644 index 0000000..aa9e627 --- /dev/null +++ b/chapter-602-bitcoin-and-economics-ii/602.05-lesson-powerlaws.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A power law in economics", + "A type of pasta dish", + "A way to fold laundry" + ], + "feedback": [ + "Good job! The Pareto principle, also known as the 80/20 rule, is a power law that explains how a small amount of something (like 20% of producers) can have a big impact (like 80% of the market share).", + "Sorry, but it looks like you need to brush up on your economics and not your culinary skills. The Pareto principle is not a type of pasta, although it might be a tasty way to remember it", + "I'm afraid you're going to have to put away the laundry and pay a little more attention to economics. The Pareto principle is not a way to fold clothes, but it is a useful way to understand how small changes in one thing can lead to bigger changes in another." + ], + "id": "powerLaws", + "question": "What is the Pareto principle, also known as the 80/20 rule, an example of", + "text": "Power laws are a way to understand how two things are related. When one thing changes, the other thing changes in a way that is related to the first change. Power laws can show up in different areas, like language, biology, and space. Small changes in one thing can often lead to bigger changes in the other thing.\n\nIn economics, power laws are often shown in graphs. One example of a power law is the Pareto principle, which says that about 80% of the results come from 20% of the things that cause them. In a market, this might mean that 20% of the producers make up 80% of the market.\n\nPower laws can also be seen in other parts of bitcoin, like how much power mining pools have or how many hardware wallets different companies sell. They can also be seen in how bitcoin is distributed among different addresses.\n", + "title": "Power Laws", + "type": "Text" +} diff --git a/chapter-602-bitcoin-and-economics-ii/602.06-lesson-winner-wake-all.json b/chapter-602-bitcoin-and-economics-ii/602.06-lesson-winner-wake-all.json new file mode 100644 index 0000000..d99b896 --- /dev/null +++ b/chapter-602-bitcoin-and-economics-ii/602.06-lesson-winner-wake-all.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Because it is the most liquid and the best way to store value", + "Because it tastes the best", + "Because it has the prettiest color" + ], + "feedback": [ + "You got it right. The main reason that people usually agree on using one type of money in a certain area is because it is the most liquid and the best way to store value", + "I'm afraid you might be confusing money with your favorite flavor of ice cream. Try again", + "Sorry, but the color of money is not the most important factor in determining which type to use. Better luck next time!" + ], + "id": "winnerTakeAll", + "question": "What is the main reason that people usually agree on using one type of money in a certain area", + "text": "The concept of winner-take-all effects is when only one product or service is the best and everyone wants to use it. This can happen in markets where a small advantage can lead to getting all of the business.\n\nMoney is a network like this, where only one type of money is used in a certain area because it is the most useful and has the most options for trading with other people. This happens because people want to use the money that will give them the most options and be the most useful in a lot of different situations.\n\nMoney is also a good way to store value over a long time. When it comes to monetary systems, people usually agree on using one type of money because it is the most liquid, or easiest to use, and it is the best way to store value.\n", + "title": "Winner-Take-All Effects", + "type": "Text" +} diff --git a/chapter-603-bitcoin-and-economics-iii/603-combined.json b/chapter-603-bitcoin-and-economics-iii/603-combined.json new file mode 100644 index 0000000..63b91ef --- /dev/null +++ b/chapter-603-bitcoin-and-economics-iii/603-combined.json @@ -0,0 +1,93 @@ +{ + "content": [ + { + "answers": [ + "The belief that one unit of something is always the right amount to use when comparing it to other things", + "The belief that one type of currency is better than all others", + "The belief that all units of something should be the same size" + ], + "feedback": [ + "Yep! Unit bias is the belief that one unit of something is always the right amount to use when comparing it to other things. However, this is not always true and can lead to faulty reasoning. Good job", + "I'm afraid you're mistaken. Unit bias is not about believing that one type of currency is better than all others. Maybe you should stick to counting your coins instead of trying to determine the value of currency", + "Sorry, but unit bias is not about the size of units. Don't worry, though – you can still have fun with different sizes of units by playing with building blocks or LEGO bricks." + ], + "id": "unitBias", + "question": "What is unit bias", + "text": "Unit bias is a type of thinking that assumes that one unit of something is the right amount to use when comparing it to other things.\n\nThis is not always true, especially when it comes to bitcoin. To understand how bitcoin compares to other stores of value, you need to look at the total amount of bitcoin that is available and its value, not just the price of one unit. Bitcoin is very small and can be divided into very small amounts, down to 8 decimal places. This means that you can buy a very small part of a bitcoin if you want.\n\nPeople sometimes think that other cryptocurrencies are cheaper than bitcoin because they cost less per unit, but this is not always true. Bitcoin is a special type of digital money because it is limited in supply and cannot be made in larger amounts.\n\nThis makes it a good way to store value because the value does not decrease over time. When you look at bitcoin in this way, you can see that it is just a small part of the total amount of non-government wealth in the world.\n", + "title": "Unit Bias", + "type": "Text" + }, + { + "answers": [ + "A type of good that people want more of when the price goes up", + "A type of food that tastes better when it is expensive", + "A type of good that people want more of when they have more money to spend" + ], + "feedback": [ + "Exactly! A Veblen good is a type of good that people want more of when the price goes up. This is unusual because most people want things more when they have more money to spend", + "I'm sorry, but a Veblen good is not a type of food. Maybe you should stick to eating your favorite foods instead of trying to understand economics", + "I'm afraid you're mistaken. A Veblen good is not a type of good that people want more of when they have more money to spend. Maybe you should pay more attention to economics instead of just spending your money!" + ], + "id": "veblenGood", + "question": "What is a Veblen good", + "text": "Veblen goods are things that people want more of when the price goes up. Normal goods are things that people usually want more of when they have more money to spend.\n\nVeblen goods are unusual because people want them more when they cost more. These are often luxury goods that are hard to get or that are made in limited quantities. This is done to make them seem special or rare.\n\nSome people might want to buy bitcoin because it is a status symbol, but the main reason people will probably want to buy it is because there is a limited amount of it.\n\nWhen more people want to buy bitcoin, the price goes up and it becomes easier to use. When it is easy to use, more people want to use it. This creates a cycle where the demand for bitcoin increases, the price goes up, and it becomes easier to use.\n", + "title": "Veblen Good", + "type": "Text" + }, + { + "answers": [ + "Distorted price signals", + "Aliens from outer space", + "A lack of unicorns in the economy" + ], + "feedback": [ + "Correct answer! You're on the right track. When prices are not accurate, it can lead to money being put into things that are not very productive. Good job", + "Wrong answer! But at least you're thinking outside the box. Maybe the aliens are controlling the price signals from their spaceship... or maybe not. Better luck next time", + "Sorry, but unicorns do not have the power to control the economy. Although, it would be pretty cool if they did. Better luck next time." + ], + "id": "malinvestment", + "question": "What is the main cause of malinvestment", + "text": "Malinvestment is when the prices of things are not accurate, which leads to money being put into things that are not very productive. This happens because it is hard to predict the future and make good choices about what to do with money.\n\nWhen the market is not working correctly, it is like trying to use a compass when you are not sure where you are. An example of this is when companies can't pay back their loans and have to borrow more money just to stay alive. This is like being a \"zombie\" company.\n\nWhen the government is in charge of these decisions, they might make mistakes because they don't have a good way to tell what is a good investment and what is not. This can lead to things like building a subway without enough trains or building a dam without enough power lines.\n", + "title": "Malinvestment", + "type": "Text" + }, + { + "answers": [ + "When the potential upside is disproportionately greater than the downside risk", + "When the potential upside and downside are equal", + "When the potential upside is a talking llama and the downside is a mute giraffe" + ], + "feedback": [ + "Correct answer! You got it! An asymmetric payoff means that the potential for gain is much greater than the potential for loss. Good job", + "Wrong answer! An asymmetric payoff means that the potential for gain or loss is uneven, not equal. Better luck next time", + "Wrong answer! While a talking llama and mute giraffe might make for an interesting investment, they do not define an asymmetric payoff. Better luck next time." + ], + "id": "asymmetricPayoff", + "question": "What is an asymmetric payoff in the context of investment decisions", + "text": "When we make decisions about investing our money, we try to predict what might happen and how much money we could make or lose. Sometimes, the amount of money we can make or lose is not equal.\n\nFor example, if we invest in something that has a big chance of making us a lot of money, but only a small chance of losing a little bit of money, we might call this an \"asymmetric payoff.\" This means that the potential upside (how much we can make) is much bigger than the potential downside (how much we can lose).\n\nOne example of this is bitcoin. Bitcoin's potential outcomes are similar to an option, meaning it either succeeds or fails. If it experiences a catastrophic event, the risk of losing money is minimized.\n\nHowever, the potential upside is much greater, as bitcoin's total addressable market has the potential to be a primary global store of wealth.\n\nAsymmetry in payoffs, or uneven potential outcomes, only occurs when there is uneven understanding or information about an investment. If everyone fully understood bitcoin, it would already be widely used as a form of currency.\n\nCurrently, not everyone is aware of bitcoin's potential as a superior monetary option, so the potential for it to increase in value depends on the demand for it increasing without a corresponding increase in the supply.\n", + "title": "Asymmetric Payoff", + "type": "Text" + }, + { + "answers": [ + "It helps identify potential growth strategies for the bitcoin protocol", + "It helps determine the optimal temperature for storing bitcoin", + "It helps calculate the potential return on investment for bitcoin mining operations" + ], + "feedback": [ + "Correct answer! You got it! The Ansoff Matrix can be used to outline growth strategies for the bitcoin protocol, such as developing and selling it to different markets. Good job", + "Nope! Storage temperature for bitcoin private keys is not a real issue, and it is not related to the Ansoff Matrix. Better luck next time", + "Wrong answer! While calculating potential returns on investment is important for bitcoin miners, it is not directly related to the Ansoff Matrix. Better luck next time." + ], + "id": "ansoffMatrix", + "question": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin", + "text": "The Ansoff Matrix is a tool that helps companies think about how they can grow and make more money. It helps them figure out what to do with a product or service they have, and how to sell it to different groups of people.\n\nIn the case of bitcoin, it is a product that is like a type of digital money. It has the potential to be used by a lot of people in a lot of different ways. The people who work on bitcoin, like the people who write the code and help others understand how to use it, are trying to increase the number of people who use it and make it easier for them to do so.\n\nBitcoin can be used to save money and protect it from being taken away, or it can be used to send and receive small amounts of money quickly, without having to go through a lot of steps. As more people start using bitcoin, it has the potential to grow and become more popular.\n\nIt is also possible for people and companies to use bitcoin as part of their financial plans, to help protect their money from losing value. While the main reason people might use bitcoin now is to protect their wealth, the payment use case has been growing fast since the inception of the Lightning Network and other use cases may emerge.\n", + "title": "Ansoff Matrix", + "type": "Text" + } + ], + "meta": { + "id": "BitcoinandEconomicsIII", + "title": "Bitcoin and Economics III" + } +} diff --git a/chapter-603-bitcoin-and-economics-iii/603-es-combined.json b/chapter-603-bitcoin-and-economics-iii/603-es-combined.json new file mode 100644 index 0000000..ac4ed72 --- /dev/null +++ b/chapter-603-bitcoin-and-economics-iii/603-es-combined.json @@ -0,0 +1,93 @@ +{ + "content": [ + { + "answers": [ + "La creencia de que una unidad de algo es siempre la cantidad correcta para usar cuando se compara con otras cosas.", + "La creencia de que un tipo de moneda es mejor que todos los dem\u00e1s.", + "La creencia de que todas las unidades de algo deben tener el mismo tama\u00f1o." + ], + "feedback": [ + "\u00a1S\u00ed! El sesgo unitario es la creencia de que una unidad de algo es siempre la cantidad correcta para usar al compararla con otras cosas. Sin embargo, esto no siempre es cierto y puede llevar a un razonamiento err\u00f3neo. Buen trabajo", + "Me temo que este equivocado. El sesgo unitario no consiste en creer que un tipo de moneda es mejor que todos los dem\u00e1s. Tal vez deber\u00edas limitarte a contar tus monedas en lugar de intentar determinar el valor de la moneda.", + "Lo sentimos, pero el sesgo unitario no tiene que ver con el tama\u00f1o de las unidades. Pero no te preocupes: a\u00fan puedes divertirte con unidades de diferentes tama\u00f1os jugando con bloques de construcci\u00f3n o ladrillos LEGO." + ], + "id": "unidadBias", + "question": "\u00bfQu\u00e9 es el sesgo unitario?", + "text": "El sesgo unitario es un tipo de pensamiento que supone que una unidad de algo es la cantidad correcta para usar al compararla con otras cosas.\n\nEsto no siempre es cierto, especialmente cuando se trata de bitcoin. Para comprender c\u00f3mo se compara Bitcoin con otras reservas de valor, es necesario observar la cantidad total de Bitcoin disponible y su valor, no solo el precio de una unidad. Bitcoin es muy peque\u00f1o y se puede dividir en cantidades muy peque\u00f1as, hasta 8 decimales. Esto significa que puedes comprar una parte muy peque\u00f1a de un bitcoin si lo deseas.\n\nLa gente a veces piensa que otras criptomonedas son m\u00e1s baratas que bitcoin porque cuestan menos por unidad, pero esto no siempre es cierto. Bitcoin es un tipo especial de dinero digital porque su oferta es limitada y no se puede fabricar en cantidades mayores.\n\nEsto lo convierte en una buena forma de almacenar valor porque el valor no disminuye con el tiempo. Cuando miras a Bitcoin de esta manera, puedes ver que es solo una peque\u00f1a parte de la cantidad total de riqueza no gubernamental en el mundo.\n", + "title": "Sesgo unitario", + "type": "Texto" + }, + { + "answers": [ + "Un tipo de bien que la gente quiere m\u00e1s cuando el precio sube.", + "Un tipo de comida que sabe mejor cuando es cara", + "Un tipo de bien que la gente quiere m\u00e1s cuando tiene m\u00e1s dinero para gastar." + ], + "feedback": [ + "\u00a1Exactamente! Un bien Veblen es un tipo de bien que la gente quiere m\u00e1s cuando el precio sube. Esto es inusual porque la mayor\u00eda de las personas quieren m\u00e1s cosas cuando tienen m\u00e1s dinero para gastar.", + "Lo siento, pero un bien Veblen no es un tipo de comida. Tal vez deber\u00edas limitarte a comer tus comidas favoritas en lugar de intentar entender la econom\u00eda.", + "Me temo que este equivocado. Un bien Veblen no es un tipo de bien que la gente quiera m\u00e1s cuando tiene m\u00e1s dinero para gastar. \u00a1Quiz\u00e1s deber\u00edas prestar m\u00e1s atenci\u00f3n a la econom\u00eda en lugar de simplemente gastar tu dinero!" + ], + "id": "veblenBueno", + "question": "\u00bfQu\u00e9 es bueno un Veblen?", + "text": "Los productos Veblen son cosas que la gente quiere m\u00e1s cuando el precio sube. Los bienes normales son cosas que la gente suele querer m\u00e1s cuando tiene m\u00e1s dinero para gastar.\n\nLos productos Veblen son inusuales porque la gente los quiere m\u00e1s cuando cuestan m\u00e1s. Suelen ser art\u00edculos de lujo dif\u00edciles de conseguir o que se fabrican en cantidades limitadas. Esto se hace para que parezcan especiales o raros.\n\nEs posible que algunas personas quieran comprar bitcoins porque es un s\u00edmbolo de estatus, pero la raz\u00f3n principal por la que la gente probablemente querr\u00e1 comprarlo es porque hay una cantidad limitada.\n\nCuando m\u00e1s personas quieren comprar bitcoins, el precio sube y resulta m\u00e1s f\u00e1cil de usar. Cuando es f\u00e1cil de usar, m\u00e1s gente quiere usarlo. Esto crea un ciclo en el que aumenta la demanda de bitcoins, el precio sube y se vuelve m\u00e1s f\u00e1cil de usar.\n", + "title": "Veblen bueno", + "type": "Texto" + }, + { + "answers": [ + "Se\u00f1ales de precios distorsionadas", + "Extraterrestres del espacio exterior", + "Falta de unicornios en la econom\u00eda" + ], + "feedback": [ + "\u00a1Respuesta correcta! Est\u00e1s en el camino correcto. Cuando los precios no son precisos, se puede invertir dinero en cosas que no son muy productivas. Buen trabajo", + "\u00a1Respuesta incorrecta! Pero al menos est\u00e1s pensando fuera de lo com\u00fan. Tal vez los extraterrestres est\u00e9n controlando las se\u00f1ales de precios de su nave espacial... o tal vez no. Mejor suerte la pr\u00f3xima vez", + "Lo sentimos, pero los unicornios no tienen el poder de controlar la econom\u00eda. Aunque ser\u00eda genial si lo hicieran. Mejor suerte la pr\u00f3xima vez." + ], + "id": "mala inversi\u00f3n", + "question": "\u00bfCu\u00e1l es la principal causa de las malas inversiones?", + "text": "La mala inversi\u00f3n se produce cuando los precios de las cosas no son exactos, lo que lleva a que se invierta dinero en cosas que no son muy productivas. Esto sucede porque es dif\u00edcil predecir el futuro y tomar buenas decisiones sobre qu\u00e9 hacer con el dinero.\n\nCuando el mercado no funciona correctamente, es como intentar utilizar una br\u00fajula cuando no est\u00e1s seguro de d\u00f3nde est\u00e1s. Un ejemplo de esto es cuando las empresas no pueden pagar sus pr\u00e9stamos y tienen que pedir prestado m\u00e1s dinero s\u00f3lo para sobrevivir. Esto es como ser una empresa \"zombi\".\n\nCuando el gobierno est\u00e1 a cargo de estas decisiones, puede cometer errores porque no tiene una buena manera de saber qu\u00e9 es una buena inversi\u00f3n y qu\u00e9 no. Esto puede llevar a cosas como la construcci\u00f3n de un metro sin suficientes trenes o la construcci\u00f3n de una presa sin suficientes l\u00edneas el\u00e9ctricas.\n", + "title": "Mala inversi\u00f3n", + "type": "Texto" + }, + { + "answers": [ + "Cuando el potencial alcista es desproporcionadamente mayor que el riesgo a la baja", + "Cuando las posibles ventajas y desventajas son iguales", + "Cuando la ventaja potencial es una llama que habla y la desventaja es una jirafa muda" + ], + "feedback": [ + "\u00a1Respuesta correcta! \u00a1Lo entendiste! Un pago asim\u00e9trico significa que el potencial de ganancia es mucho mayor que el potencial de p\u00e9rdida. Buen trabajo", + "\u00a1Respuesta incorrecta! Un pago asim\u00e9trico significa que el potencial de ganancia o p\u00e9rdida es desigual, no igual. Mejor suerte la pr\u00f3xima vez", + "\u00a1Respuesta incorrecta! Si bien una llama parlante y una jirafa muda pueden ser una inversi\u00f3n interesante, no definen una recompensa asim\u00e9trica. Mejor suerte la pr\u00f3xima vez." + ], + "id": "pago asim\u00e9trico", + "question": "\u00bfQu\u00e9 es un beneficio asim\u00e9trico en el contexto de las decisiones de inversi\u00f3n?", + "text": "Cuando tomamos decisiones sobre invertir nuestro dinero, intentamos predecir qu\u00e9 podr\u00eda pasar y cu\u00e1nto dinero podr\u00edamos ganar o perder. A veces, la cantidad de dinero que podemos ganar o perder no es igual.\n\nPor ejemplo, si invertimos en algo que tiene muchas posibilidades de generar mucho dinero, pero s\u00f3lo una peque\u00f1a posibilidad de perder un poco de dinero, podr\u00edamos llamar a esto un \"beneficio asim\u00e9trico\". Esto significa que el potencial positivo (cu\u00e1nto podemos ganar) es mucho mayor que el potencial negativo (cu\u00e1nto podemos perder).\n\nUn ejemplo de esto es bitcoin. Los resultados potenciales de Bitcoin son similares a una opci\u00f3n, lo que significa que tiene \u00e9xito o fracasa. Si experimenta un evento catastr\u00f3fico, se minimiza el riesgo de perder dinero.\n\nSin embargo, el potencial alcista es mucho mayor, ya que el mercado total al que se dirige Bitcoin tiene el potencial de ser un principal dep\u00f3sito global de riqueza.\n\nLa asimetr\u00eda en los pagos, o resultados potenciales desiguales, s\u00f3lo ocurre cuando existe una comprensi\u00f3n o informaci\u00f3n desigual sobre una inversi\u00f3n. Si todo el mundo entendiera completamente el bitcoin, ya se utilizar\u00eda ampliamente como forma de moneda.\n\nActualmente, no todo el mundo es consciente del potencial del bitcoin como opci\u00f3n monetaria superior, por lo que la posibilidad de que aumente su valor depende de que la demanda aumente sin el correspondiente aumento de la oferta.\n", + "title": "Pago asim\u00e9trico", + "type": "Texto" + }, + { + "answers": [ + "Ayuda a identificar posibles estrategias de crecimiento para el protocolo bitcoin.", + "Ayuda a determinar la temperatura \u00f3ptima para almacenar bitcoins.", + "Ayuda a calcular el retorno potencial de la inversi\u00f3n para las operaciones mineras de bitcoins." + ], + "feedback": [ + "\u00a1Respuesta correcta! \u00a1Lo entendiste! La Matriz de Ansoff se puede utilizar para delinear estrategias de crecimiento para el protocolo bitcoin, como desarrollarlo y venderlo en diferentes mercados. Buen trabajo", + "\u00a1No! La temperatura de almacenamiento de las claves privadas de bitcoin no es un problema real y no est\u00e1 relacionada con la Matriz de Ansoff. Mejor suerte la pr\u00f3xima vez", + "\u00a1Respuesta incorrecta! Si bien calcular el rendimiento potencial de la inversi\u00f3n es importante para los mineros de bitcoins, no est\u00e1 directamente relacionado con la Matriz de Ansoff. Mejor suerte la pr\u00f3xima vez." + ], + "id": "ansoffMatriz", + "question": "\u00bfC\u00f3mo es relevante la Matriz de Ansoff para el crecimiento y el potencial de bitcoin?", + "text": "Ansoff Matrix es una herramienta que ayuda a las empresas a pensar en c\u00f3mo pueden crecer y ganar m\u00e1s dinero. Les ayuda a descubrir qu\u00e9 hacer con un producto o servicio que tienen y c\u00f3mo venderlo a diferentes grupos de personas.\n\nEn el caso del bitcoin, es un producto que es como un tipo de dinero digital. Tiene el potencial de ser utilizado por mucha gente de muchas maneras diferentes. Las personas que trabajan con bitcoin, al igual que las personas que escriben el c\u00f3digo y ayudan a otros a entender c\u00f3mo usarlo, est\u00e1n tratando de aumentar el n\u00famero de personas que lo usan y facilitarles su uso.\n\nBitcoin se puede utilizar para ahorrar dinero y protegerlo contra robos, o se puede utilizar para enviar y recibir peque\u00f1as cantidades de dinero r\u00e1pidamente, sin tener que seguir muchos pasos. A medida que m\u00e1s personas comiencen a usar bitcoin, tiene el potencial de crecer y volverse m\u00e1s popular.\n\nTambi\u00e9n es posible que las personas y las empresas utilicen bitcoin como parte de sus planes financieros, para ayudar a proteger su dinero de la p\u00e9rdida de valor. Si bien la raz\u00f3n principal por la que las personas podr\u00edan usar bitcoin ahora es para proteger su riqueza, el caso de uso de pagos ha crecido r\u00e1pidamente desde el inicio de Lightning Network y pueden surgir otros casos de uso.\n", + "title": "Matriz de Ansoff", + "type": "Texto" + } + ], + "meta": { + "id": "BitcoinyEconom\u00edaIII", + "title": "Bitcoin y Econom\u00eda III" + } +} \ No newline at end of file diff --git a/chapter-603-bitcoin-and-economics-iii/603.01-lesson-unit-bias.json b/chapter-603-bitcoin-and-economics-iii/603.01-lesson-unit-bias.json new file mode 100644 index 0000000..82aed1f --- /dev/null +++ b/chapter-603-bitcoin-and-economics-iii/603.01-lesson-unit-bias.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "The belief that one unit of something is always the right amount to use when comparing it to other things", + "The belief that one type of currency is better than all others", + "The belief that all units of something should be the same size" + ], + "feedback": [ + "Yep! Unit bias is the belief that one unit of something is always the right amount to use when comparing it to other things. However, this is not always true and can lead to faulty reasoning. Good job", + "I'm afraid you're mistaken. Unit bias is not about believing that one type of currency is better than all others. Maybe you should stick to counting your coins instead of trying to determine the value of currency", + "Sorry, but unit bias is not about the size of units. Don't worry, though – you can still have fun with different sizes of units by playing with building blocks or LEGO bricks." + ], + "id": "unitBias", + "question": "What is unit bias", + "text": "Unit bias is a type of thinking that assumes that one unit of something is the right amount to use when comparing it to other things.\n\nThis is not always true, especially when it comes to bitcoin. To understand how bitcoin compares to other stores of value, you need to look at the total amount of bitcoin that is available and its value, not just the price of one unit. Bitcoin is very small and can be divided into very small amounts, down to 8 decimal places. This means that you can buy a very small part of a bitcoin if you want.\n\nPeople sometimes think that other cryptocurrencies are cheaper than bitcoin because they cost less per unit, but this is not always true. Bitcoin is a special type of digital money because it is limited in supply and cannot be made in larger amounts.\n\nThis makes it a good way to store value because the value does not decrease over time. When you look at bitcoin in this way, you can see that it is just a small part of the total amount of non-government wealth in the world.\n", + "title": "Unit Bias", + "type": "Text" +} diff --git a/chapter-603-bitcoin-and-economics-iii/603.02-lesson-veblen-good.json b/chapter-603-bitcoin-and-economics-iii/603.02-lesson-veblen-good.json new file mode 100644 index 0000000..ead61ae --- /dev/null +++ b/chapter-603-bitcoin-and-economics-iii/603.02-lesson-veblen-good.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "A type of good that people want more of when the price goes up", + "A type of food that tastes better when it is expensive", + "A type of good that people want more of when they have more money to spend" + ], + "feedback": [ + "Exactly! A Veblen good is a type of good that people want more of when the price goes up. This is unusual because most people want things more when they have more money to spend", + "I'm sorry, but a Veblen good is not a type of food. Maybe you should stick to eating your favorite foods instead of trying to understand economics", + "I'm afraid you're mistaken. A Veblen good is not a type of good that people want more of when they have more money to spend. Maybe you should pay more attention to economics instead of just spending your money!" + ], + "id": "veblenGood", + "question": "What is a Veblen good", + "text": "Veblen goods are things that people want more of when the price goes up. Normal goods are things that people usually want more of when they have more money to spend.\n\nVeblen goods are unusual because people want them more when they cost more. These are often luxury goods that are hard to get or that are made in limited quantities. This is done to make them seem special or rare.\n\nSome people might want to buy bitcoin because it is a status symbol, but the main reason people will probably want to buy it is because there is a limited amount of it.\n\nWhen more people want to buy bitcoin, the price goes up and it becomes easier to use. When it is easy to use, more people want to use it. This creates a cycle where the demand for bitcoin increases, the price goes up, and it becomes easier to use.\n", + "title": "Veblen Good", + "type": "Text" +} diff --git a/chapter-603-bitcoin-and-economics-iii/603.03-lesson-malinvestment.json b/chapter-603-bitcoin-and-economics-iii/603.03-lesson-malinvestment.json new file mode 100644 index 0000000..e877b8f --- /dev/null +++ b/chapter-603-bitcoin-and-economics-iii/603.03-lesson-malinvestment.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "Distorted price signals", + "Aliens from outer space", + "A lack of unicorns in the economy" + ], + "feedback": [ + "Correct answer! You're on the right track. When prices are not accurate, it can lead to money being put into things that are not very productive. Good job", + "Wrong answer! But at least you're thinking outside the box. Maybe the aliens are controlling the price signals from their spaceship... or maybe not. Better luck next time", + "Sorry, but unicorns do not have the power to control the economy. Although, it would be pretty cool if they did. Better luck next time." + ], + "id": "malinvestment", + "question": "What is the main cause of malinvestment", + "text": "Malinvestment is when the prices of things are not accurate, which leads to money being put into things that are not very productive. This happens because it is hard to predict the future and make good choices about what to do with money.\n\nWhen the market is not working correctly, it is like trying to use a compass when you are not sure where you are. An example of this is when companies can't pay back their loans and have to borrow more money just to stay alive. This is like being a \"zombie\" company.\n\nWhen the government is in charge of these decisions, they might make mistakes because they don't have a good way to tell what is a good investment and what is not. This can lead to things like building a subway without enough trains or building a dam without enough power lines.\n", + "title": "Malinvestment", + "type": "Text" +} diff --git a/chapter-603-bitcoin-and-economics-iii/603.04-lesson-asymmetric-payoff.json b/chapter-603-bitcoin-and-economics-iii/603.04-lesson-asymmetric-payoff.json new file mode 100644 index 0000000..ceb7822 --- /dev/null +++ b/chapter-603-bitcoin-and-economics-iii/603.04-lesson-asymmetric-payoff.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "When the potential upside is disproportionately greater than the downside risk", + "When the potential upside and downside are equal", + "When the potential upside is a talking llama and the downside is a mute giraffe" + ], + "feedback": [ + "Correct answer! You got it! An asymmetric payoff means that the potential for gain is much greater than the potential for loss. Good job", + "Wrong answer! An asymmetric payoff means that the potential for gain or loss is uneven, not equal. Better luck next time", + "Wrong answer! While a talking llama and mute giraffe might make for an interesting investment, they do not define an asymmetric payoff. Better luck next time." + ], + "id": "asymmetricPayoff", + "question": "What is an asymmetric payoff in the context of investment decisions", + "text": "When we make decisions about investing our money, we try to predict what might happen and how much money we could make or lose. Sometimes, the amount of money we can make or lose is not equal.\n\nFor example, if we invest in something that has a big chance of making us a lot of money, but only a small chance of losing a little bit of money, we might call this an \"asymmetric payoff.\" This means that the potential upside (how much we can make) is much bigger than the potential downside (how much we can lose).\n\nOne example of this is bitcoin. Bitcoin's potential outcomes are similar to an option, meaning it either succeeds or fails. If it experiences a catastrophic event, the risk of losing money is minimized.\n\nHowever, the potential upside is much greater, as bitcoin's total addressable market has the potential to be a primary global store of wealth.\n\nAsymmetry in payoffs, or uneven potential outcomes, only occurs when there is uneven understanding or information about an investment. If everyone fully understood bitcoin, it would already be widely used as a form of currency.\n\nCurrently, not everyone is aware of bitcoin's potential as a superior monetary option, so the potential for it to increase in value depends on the demand for it increasing without a corresponding increase in the supply.\n", + "title": "Asymmetric Payoff", + "type": "Text" +} diff --git a/chapter-603-bitcoin-and-economics-iii/603.05-lesson-ansoff-matrix.json b/chapter-603-bitcoin-and-economics-iii/603.05-lesson-ansoff-matrix.json new file mode 100644 index 0000000..04a8573 --- /dev/null +++ b/chapter-603-bitcoin-and-economics-iii/603.05-lesson-ansoff-matrix.json @@ -0,0 +1,17 @@ +{ + "answers": [ + "It helps identify potential growth strategies for the bitcoin protocol", + "It helps determine the optimal temperature for storing bitcoin", + "It helps calculate the potential return on investment for bitcoin mining operations" + ], + "feedback": [ + "Correct answer! You got it! The Ansoff Matrix can be used to outline growth strategies for the bitcoin protocol, such as developing and selling it to different markets. Good job", + "Nope! Storage temperature for bitcoin private keys is not a real issue, and it is not related to the Ansoff Matrix. Better luck next time", + "Wrong answer! While calculating potential returns on investment is important for bitcoin miners, it is not directly related to the Ansoff Matrix. Better luck next time." + ], + "id": "ansoffMatrix", + "question": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin", + "text": "The Ansoff Matrix is a tool that helps companies think about how they can grow and make more money. It helps them figure out what to do with a product or service they have, and how to sell it to different groups of people.\n\nIn the case of bitcoin, it is a product that is like a type of digital money. It has the potential to be used by a lot of people in a lot of different ways. The people who work on bitcoin, like the people who write the code and help others understand how to use it, are trying to increase the number of people who use it and make it easier for them to do so.\n\nBitcoin can be used to save money and protect it from being taken away, or it can be used to send and receive small amounts of money quickly, without having to go through a lot of steps. As more people start using bitcoin, it has the potential to grow and become more popular.\n\nIt is also possible for people and companies to use bitcoin as part of their financial plans, to help protect their money from losing value. While the main reason people might use bitcoin now is to protect their wealth, the payment use case has been growing fast since the inception of the Lightning Network and other use cases may emerge.\n", + "title": "Ansoff Matrix", + "type": "Text" +} From 85faf730c105c6d6b2e222c33b6fba3a9a06dce5 Mon Sep 17 00:00:00 2001 From: Lee Salminen Date: Thu, 5 Oct 2023 09:23:59 -0600 Subject: [PATCH 04/13] update script for blink wallets format --- bin/update-json.sh | 9 ++++----- 1 file changed, 4 insertions(+), 5 deletions(-) diff --git a/bin/update-json.sh b/bin/update-json.sh index 4fea54f..1aa9687 100755 --- a/bin/update-json.sh +++ b/bin/update-json.sh @@ -9,7 +9,7 @@ find . -type f -path '*chapter*' -name '*.yml' | while read path; do new_path="$dir/$file.json" echo "Templating $path to $new_path" - echo "$(cat $path | yq -o json | jq '{answers: [.answers[].answer], feedback: [.answers[].feedback], id: .screen, question: .question, text: .text, title: .title, type: "Text"}')" > $new_path + echo "$(cat $path | yq -o json | jq '{ (.screen): {title: .title, questions: { (.screen): { answers: [.answers[].answer], feedback: [.answers[].feedback], question: .question, text: .text, title: .question} } } }')" > $new_path done @@ -22,11 +22,10 @@ find . -type d -path '*chapter*' | sort | while read dirname; do echo "Combining chapter $chapter to $new_file" - chapterfiles=$(find $dirname -type f -name '*.json' | sort) + chapterfiles=$(find $dirname -type f -name '*.json' -not -name '*-combined.json' | sort) chaptermeta=$(find $dirname -type f -name 'README.md') chaptertitle=$(head -n 1 $chaptermeta | sed 's/#//g' | sed 's/Chapter [0-9][0-9][0-9] - //' | xargs) - chapterid=$(echo $chaptertitle | sed 's/ //g') - - jq --arg chaptertitle "$chaptertitle" --arg chapterid "$chapterid" -s '{content: map(.), meta: {id: $chapterid, title: $chaptertitle }}' $chapterfiles > $new_file + chapterid=$(echo $chaptertitle | sed 's/ //g' | sed "s/[^[:alpha:]]//g") + jq --arg chaptertitle "$chaptertitle" --arg chapterid "$chapterid" -s '{($chapterid): .}' $chapterfiles | jq -n 'inputs | add' > $new_file done From 28a8c0dc870a57a0ea2e91c58c0d5649a3597ef3 Mon Sep 17 00:00:00 2001 From: Lee Salminen Date: Thu, 5 Oct 2023 09:24:10 -0600 Subject: [PATCH 05/13] parsed json --- .../101-combined.json | 191 +++++----- .../101-es-combined.json | 93 ----- .../101.01-lesson-what-is-bitcoin.json | 35 +- .../101.02-lesson-sat.json | 35 +- .../101.03-lesson-where-bitcoin-exist.json | 35 +- .../101.04-lesson-who-controls-bitcoin.json | 35 +- .../101.05-lesson-copy-bitcoin.json | 35 +- chapter-102-what-is-money/102-combined.json | 228 ++++++------ .../102-es-combined.json | 110 ------ .../102.01-lesson-money-social-agreement.json | 35 +- .../102.02-lesson-coincidence-of-wants.json | 35 +- .../102.03-lesson-money-evolution.json | 35 +- .../102.04-lesson-why-stones-shell-gold.json | 35 +- .../102.05-lesson-money-is-important.json | 35 +- ...06-lesson-money-important-governement.json | 35 +- .../103-combined.json | 191 +++++----- .../103-es-combined.json | 93 ----- .../103.01-lesson-what-is-fiat.json | 35 +- ...3.02-lesson-why-care-about-fiat-money.json | 35 +- ...03-lesson-governement-can-print-money.json | 35 +- ....04-lesson-fiat-loses-value-over-time.json | 35 +- .../103.05-lesson-other-issues.json | 35 +- .../104-combined.json | 228 ++++++------ .../104-es-combined.json | 110 ------ .../104.01-lesson-limited-supply.json | 35 +- .../104.02-lesson-decentralized.json | 35 +- .../104.03-lesson-no-counterfeit-money.json | 35 +- .../104.04-lesson-highly-divisible.json | 35 +- .../104.05-lesson-secure-part-one.json | 35 +- .../104.06-lesson-secure-part-two.json | 35 +- .../201-combined.json | 191 +++++----- .../201-es-combined.json | 93 ----- .../201.01-lesson-origins-of-money.json | 35 +- .../201.02-lesson-primitive-money.json | 35 +- .../201.03-lesson-anticipating-demand.json | 35 +- .../201.04-lesson-nash-equilibrium.json | 35 +- .../201.05-lesson-single-store-of-value.json | 35 +- .../202-combined.json | 339 ++++++++++-------- .../202-es-combined.json | 161 --------- .../202.01-lesson-what-is-good-sov.json | 35 +- .../202.02-lesson-durability.json | 35 +- .../202.03-lesson-portability.json | 35 +- .../202.04-lesson-fungibility.json | 35 +- .../202.05-lesson-verifiability.json | 35 +- .../202.06-lesson-divisibility.json | 35 +- .../202.07-lesson-scarce.json | 35 +- .../202.08-lesson-established-history.json | 35 +- .../202.09-lesson-censorship-resistance.json | 35 +- .../203-combined.json | 265 ++++++++------ .../203-es-combined.json | 127 ------- .../203.01-lesson-evolution-money.json | 35 +- .../203.02-lesson-collectible.json | 35 +- .../203.03-lesson-store-of-value.json | 35 +- .../203.04-lesson-medium-of-exchange.json | 35 +- .../203.05-lesson-unit-of-account.json | 35 +- .../203.06-lesson-partly-monetized.json | 35 +- .../203.07-lesson-monitization-stage.json | 35 +- .../204-combined.json | 191 +++++----- .../204-es-combined.json | 93 ----- .../204.01-lesson-not-from-government.json | 35 +- .../204.02-lesson-primary-functoin.json | 35 +- .../204.03-lesson-monetary-metals.json | 35 +- .../204.05-lesson-stock-to-flow.json | 35 +- .../204.06-lesson-hard-money.json | 35 +- .../205-combined.json | 302 +++++++++------- .../205-es-combined.json | 144 -------- .../205.01-lesson-converging-on-gold.json | 35 +- .../205.02-lesson-origins-of-paper-money.json | 35 +- .../205.03-lesson-fractional-reserve.json | 35 +- .../205.04-lesson-bank-run.json | 35 +- .../205.05-lesson-modern-central-banking.json | 35 +- .../205.06-lesson-gold-backed.json | 35 +- .../205.07-lesson-bretton-woords.json | 35 +- .../205.08-lesson-global-reserve.json | 35 +- .../206-combined.json | 302 +++++++++------- .../206-es-combined.json | 144 -------- .../206.01-lesson-nixon-shock.json | 35 +- .../206.02-lesson-fiat-era.json | 35 +- .../206.03-lesson-digital-fiat.json | 35 +- .../206.04-lesson-plastic-credit.json | 35 +- 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302 +++++++++------- .../401-es-combined.json | 144 -------- .../401.01-lesson-bitcoin-drawbacks.json | 35 +- .../401.02-lesson-block-size-wars.json | 35 +- .../401.03-lesson-lightning-network.json | 35 +- .../401.04-lesson-instant-payments.json | 35 +- .../401.05-lesson-micro-payments.json | 35 +- .../401.06-lesson-scalability.json | 35 +- .../401.07-lesson-payment-channels.json | 35 +- .../401.08-lesson-routing.json | 35 +- .../501-combined.json | 228 ++++++------ .../501-es-combined.json | 110 ------ .../501.01-lesson-its-a-bubble.json | 35 +- .../501.02-lesson-its-too-volatile.json | 35 +- .../501.03-lesson-its-not-backed.json | 35 +- .../501.04-lesson-will-become-obsolete.json | 35 +- .../501.05-lesson-too-much-energy.json | 35 +- .../501.06-lesson-stranded-energy.json | 35 +- .../502-combined.json | 228 ++++++------ .../502-es-combined.json | 110 ------ .../502.01-lesson-internet-dependent.json | 35 +- .../502.02-lesson-for-crime-only.json | 35 +- 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chapter-602-bitcoin-and-economics-ii/602-es-combined.json delete mode 100644 chapter-603-bitcoin-and-economics-iii/603-es-combined.json diff --git a/chapter-101-bitcoin-what-is-it/101-combined.json b/chapter-101-bitcoin-what-is-it/101-combined.json index 1072b8f..82a9b71 100644 --- a/chapter-101-bitcoin-what-is-it/101-combined.json +++ b/chapter-101-bitcoin-what-is-it/101-combined.json @@ -1,93 +1,112 @@ -{ - "content": [ - { - "answers": [ - "Digital Money", - "A video game", - "A new cartoon character" - ], - "feedback": [ - "Correct. You just earned 1 “sat”!", - "Incorrect, please try again.", - "Nope. At least not one that we know of!" - ], - "id": "whatIsBitcoin", - "question": "So what exactly is Bitcoin", - "text": "Bitcoin is digital money. It can be transferred instantly and securely between any two people in the world — without the need for a bank or any other financial company in the middle.", +[ + { + "whatIsBitcoin": { "title": "So what exactly is Bitcoin?", - "type": "Text" - }, - { - "answers": [ - "The smallest unit of Bitcoin", - "A small satellite", - "A space cat 🐱🚀" - ], - "feedback": [ - "Correct. You just earned another two sats!!", - "Maybe… but that is not the correct answer in this context 🙂", - "Ummm.... not quite!" - ], - "id": "sat", - "question": "I just earned a “Sat\". What is that?", - "text": "One “Sat” is the smallest unit of a bitcoin. We all know that one US Dollar can be divided into 100 cents. Similarly, one Bitcoin can be divided into 100,000,000 sats. In fact, you do not need to own one whole bitcoin in order to use it. You can use bitcoin whether you have 20 sats, 3000 sats — or 100,000,000 sats (which you now know is equal to one bitcoin).\n", + "questions": { + "whatIsBitcoin": { + "answers": [ + "Digital Money", + "A video game", + "A new cartoon character" + ], + "feedback": [ + "Correct. You just earned 1 “sat”!", + "Incorrect, please try again.", + "Nope. At least not one that we know of!" + ], + "question": "So what exactly is Bitcoin", + "text": "Bitcoin is digital money. It can be transferred instantly and securely between any two people in the world — without the need for a bank or any other financial company in the middle.", + "title": "So what exactly is Bitcoin" + } + } + } + }, + { + "sat": { "title": "I just earned a “Sat”. What is that?", - "type": "Text" - }, - { - "answers": [ - "On the Internet", - "On the moon", - "In a Federal bank account" - ], - "feedback": [ - "Correct. You just earned another 5 sats.", - "Incorrect. Well… at least not yet ;)", - "Wrong. Please try again." - ], - "id": "whereBitcoinExist", - "question": "Where do the bitcoins exist?", - "text": "Bitcoin is a new form of money. It can be used by anyone, anytime -- anywhere in the world. It is not tied to a specific government or region (like US Dollars). There are also no paper bills, metal coins or plastic cards. Everything is 100% digital. Bitcoin is a network of computers running on the internet. Your bitcoin is easily managed with software on your smartphone or computer!\n", + "questions": { + "sat": { + "answers": [ + "The smallest unit of Bitcoin", + "A small satellite", + "A space cat 🐱🚀" + ], + "feedback": [ + "Correct. You just earned another two sats!!", + "Maybe… but that is not the correct answer in this context 🙂", + "Ummm.... not quite!" + ], + "question": "I just earned a “Sat\". What is that?", + "text": "One “Sat” is the smallest unit of a bitcoin. We all know that one US Dollar can be divided into 100 cents. Similarly, one Bitcoin can be divided into 100,000,000 sats. In fact, you do not need to own one whole bitcoin in order to use it. You can use bitcoin whether you have 20 sats, 3000 sats — or 100,000,000 sats (which you now know is equal to one bitcoin).\n", + "title": "I just earned a “Sat\". What is that?" + } + } + } + }, + { + "whereBitcoinExist": { "title": "Where do the bitcoins exist?", - "type": "Text" - }, - { - "answers": [ - "A voluntary community of users around the world", - "Mr Burns from The Simpsons", - "The government of France" - ], - "feedback": [ - "That is right. Bitcoin is made possible by people all around the world running bitcoin software on their computers and smartphones.", - "An amusing thought — but not correct!", - "Wrong. There is no company nor government that controls Bitcoin." - ], - "id": "whoControlsBitcoin", - "question": "Who controls Bitcoin?", - "text": "Bitcoin is not controlled by any person, company or government. It is run by the community of users -- people and companies all around the world -- voluntarily running bitcoin software on their computers and smartphones.\n", + "questions": { + "whereBitcoinExist": { + "answers": [ + "On the Internet", + "On the moon", + "In a Federal bank account" + ], + "feedback": [ + "Correct. You just earned another 5 sats.", + "Incorrect. Well… at least not yet ;)", + "Wrong. Please try again." + ], + "question": "Where do the bitcoins exist?", + "text": "Bitcoin is a new form of money. It can be used by anyone, anytime -- anywhere in the world. It is not tied to a specific government or region (like US Dollars). There are also no paper bills, metal coins or plastic cards. Everything is 100% digital. Bitcoin is a network of computers running on the internet. Your bitcoin is easily managed with software on your smartphone or computer!\n", + "title": "Where do the bitcoins exist?" + } + } + } + }, + { + "whoControlsBitcoin": { "title": "Who controls Bitcoin?", - "type": "Text" - }, - { - "answers": [ - "No — it is impossible to copy or duplicate the value of bitcoin", - "Yes, you can copy bitcoins just as easily as copying a digital photo", - "Yes, but copying bitcoin requires very specialized computers" - ], - "feedback": [ - "copy or duplicate the value of bitcoin", - "You know that it is not true. Try again.", - "Incorrect. There is no way for anyone to copy, or create a duplicate, of bitcoin." - ], - "id": "copyBitcoin", - "question": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", - "text": "The value of a bitcoin can never be copied. This is the very reason why Bitcoin is such a powerful new invention!! Most digital files — such as an iPhone photo, an MP3 song, or a Microsoft Word document — can easily be duplicated and shared. The Bitcoin software uniquely prevents the duplication — or “double spending” — of digital money. We will share exactly how this works later on!\n", + "questions": { + "whoControlsBitcoin": { + "answers": [ + "A voluntary community of users around the world", + "Mr Burns from The Simpsons", + "The government of France" + ], + "feedback": [ + "That is right. Bitcoin is made possible by people all around the world running bitcoin software on their computers and smartphones.", + "An amusing thought — but not correct!", + "Wrong. There is no company nor government that controls Bitcoin." + ], + "question": "Who controls Bitcoin?", + "text": "Bitcoin is not controlled by any person, company or government. It is run by the community of users -- people and companies all around the world -- voluntarily running bitcoin software on their computers and smartphones.\n", + "title": "Who controls Bitcoin?" + } + } + } + }, + { + "copyBitcoin": { "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", - "type": "Text" + "questions": { + "copyBitcoin": { + "answers": [ + "No — it is impossible to copy or duplicate the value of bitcoin", + "Yes, you can copy bitcoins just as easily as copying a digital photo", + "Yes, but copying bitcoin requires very specialized computers" + ], + "feedback": [ + "copy or duplicate the value of bitcoin", + "You know that it is not true. Try again.", + "Incorrect. There is no way for anyone to copy, or create a duplicate, of bitcoin." + ], + "question": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", + "text": "The value of a bitcoin can never be copied. This is the very reason why Bitcoin is such a powerful new invention!! Most digital files — such as an iPhone photo, an MP3 song, or a Microsoft Word document — can easily be duplicated and shared. The Bitcoin software uniquely prevents the duplication — or “double spending” — of digital money. We will share exactly how this works later on!\n", + "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?" + } + } } - ], - "meta": { - "id": "Bitcoin:Whatisit?", - "title": "Bitcoin: What is it?" } -} +] diff --git a/chapter-101-bitcoin-what-is-it/101-es-combined.json b/chapter-101-bitcoin-what-is-it/101-es-combined.json deleted file mode 100644 index 3c29e76..0000000 --- a/chapter-101-bitcoin-what-is-it/101-es-combined.json +++ /dev/null @@ -1,93 +0,0 @@ -{ - "content": [ - { - "answers": [ - "Dinero Digital", - "Un videojuego", - "Un nuevo personaje de dibujos animados" - ], - "feedback": [ - "Correcto. \u00a1Acabas de ganar 1 \u201csat\u201d!", - "Incorrecto por favor int\u00e9ntelo de nuevo.", - "No. \u00a1Al menos no uno que sepamos!" - ], - "id": "\u00bfQu\u00e9 es Bitcoin?", - "question": "Entonces, \u00bfqu\u00e9 es exactamente Bitcoin?", - "text": "Bitcoin es dinero digital. Se puede transferir de forma instant\u00e1nea y segura entre dos personas cualesquiera en el mundo, sin necesidad de que haya un banco ni ninguna otra empresa financiera en el medio.", - "title": "Entonces, \u00bfqu\u00e9 es exactamente Bitcoin?", - "type": "Texto" - }, - { - "answers": [ - "La unidad m\u00e1s peque\u00f1a de Bitcoin", - "Un peque\u00f1o sat\u00e9lite", - "Un gato espacial \ud83d\udc31\ud83d\ude80" - ], - "feedback": [ - "Correcto. \u00a1\u00a1Acabas de ganar otros dos sats!!", - "Quiz\u00e1s\u2026 pero esa no es la respuesta correcta en este contexto \ud83d\ude42", - "Ummm... \u00a1no del todo!" - ], - "id": "se sent\u00f3", - "question": "Acabo de obtener un \"Sat\". \u00bfQu\u00e9 es eso?", - "text": "Un \"Sat\" es la unidad m\u00e1s peque\u00f1a de un bitcoin. Todos sabemos que un d\u00f3lar estadounidense se puede dividir en 100 centavos. De manera similar, un Bitcoin se puede dividir en 100.000.000 de sats. De hecho, no es necesario poseer un bitcoin completo para poder utilizarlo. Puedes usar bitcoin ya sea que tengas 20 sats, 3000 sats o 100.000.000 de sats (que ahora sabes que equivalen a un bitcoin).\n", - "title": "Acabo de obtener un \"Sat\". \u00bfQu\u00e9 es eso?", - "type": "Texto" - }, - { - "answers": [ - "En Internet", - "En la Luna", - "En una cuenta de banco federal" - ], - "feedback": [ - "Correcto. Acabas de obtener otros 5 sats.", - "Incorrecto. Bueno\u2026 al menos no todav\u00eda ;)", - "Equivocado. Int\u00e9ntalo de nuevo." - ], - "id": "donde existeBitcoin", - "question": "\u00bfD\u00f3nde existen los bitcoins?", - "text": "Bitcoin es una nueva forma de dinero. Puede ser utilizado por cualquier persona, en cualquier momento y en cualquier parte del mundo. No est\u00e1 vinculado a ning\u00fan gobierno o regi\u00f3n espec\u00edfica (como los d\u00f3lares estadounidenses). Tampoco hay billetes de papel, monedas de metal ni tarjetas de pl\u00e1stico. Todo es 100% digital. Bitcoin es una red de computadoras que se ejecutan en Internet. \u00a1Sus bitcoins se administran f\u00e1cilmente con el software de su tel\u00e9fono inteligente o computadora!\n", - "title": "\u00bfD\u00f3nde existen los bitcoins?", - "type": "Texto" - }, - { - "answers": [ - "Una comunidad voluntaria de usuarios de todo el mundo.", - "Se\u00f1or Burns de Los Simpson", - "El gobierno de Francia" - ], - "feedback": [ - "Eso es correcto. Bitcoin es posible gracias a personas de todo el mundo que ejecutan software bitcoin en sus computadoras y tel\u00e9fonos inteligentes.", - "Un pensamiento divertido, \u00a1pero no correcto!", - "Equivocado. No existe ninguna empresa ni gobierno que controle Bitcoin." - ], - "id": "qui\u00e9ncontrolaBitcoin", - "question": "\u00bfQui\u00e9n controla Bitcoin?", - "text": "Bitcoin no est\u00e1 controlado por ninguna persona, empresa o gobierno. Est\u00e1 dirigido por la comunidad de usuarios (personas y empresas de todo el mundo) que ejecutan voluntariamente software bitcoin en sus computadoras y tel\u00e9fonos inteligentes.\n", - "title": "\u00bfQui\u00e9n controla Bitcoin?", - "type": "Texto" - }, - { - "answers": [ - "No, es imposible copiar o duplicar el valor de bitcoin", - "S\u00ed, puedes copiar bitcoins tan f\u00e1cilmente como copiar una fotograf\u00eda digital", - "S\u00ed, pero copiar bitcoins requiere computadoras muy especializadas" - ], - "feedback": [ - "copiar o duplicar el valor de bitcoin", - "Sabes que no es verdad. Intentar otra vez.", - "Incorrecto. No hay forma de que nadie copie o cree un duplicado de bitcoin." - ], - "id": "copiarBitcoin", - "question": "Si Bitcoin es dinero digital, \u00bfno puede alguien simplemente copiarlo y crear dinero gratis?", - "text": "El valor de un bitcoin nunca se puede copiar. \u00a1Esta es la raz\u00f3n por la que Bitcoin es un nuevo invento tan poderoso! La mayor\u00eda de los archivos digitales, como una fotograf\u00eda de iPhone, una canci\u00f3n MP3 o un documento de Microsoft Word, se pueden duplicar y compartir f\u00e1cilmente. El software Bitcoin previene de manera \u00fanica la duplicaci\u00f3n (o \u201cdoble gasto\u201d) del dinero digital. \u00a1Compartiremos exactamente c\u00f3mo funciona esto m\u00e1s adelante!\n", - "title": "Si Bitcoin es dinero digital, \u00bfno puede alguien simplemente copiarlo y crear dinero gratis?", - "type": "Texto" - } - ], - "meta": { - "id": "Bitcoin: \u00bfQu\u00e9 es?", - "title": "Bitcoin: \u00bfQu\u00e9 es?" - } -} \ No newline at end of file diff --git a/chapter-101-bitcoin-what-is-it/101.01-lesson-what-is-bitcoin.json b/chapter-101-bitcoin-what-is-it/101.01-lesson-what-is-bitcoin.json index f194d1f..aca2087 100644 --- a/chapter-101-bitcoin-what-is-it/101.01-lesson-what-is-bitcoin.json +++ b/chapter-101-bitcoin-what-is-it/101.01-lesson-what-is-bitcoin.json @@ -1,17 +1,22 @@ { - "answers": [ - "Digital Money", - "A video game", - "A new cartoon character" - ], - "feedback": [ - "Correct. You just earned 1 “sat”!", - "Incorrect, please try again.", - "Nope. At least not one that we know of!" - ], - "id": "whatIsBitcoin", - "question": "So what exactly is Bitcoin", - "text": "Bitcoin is digital money. It can be transferred instantly and securely between any two people in the world — without the need for a bank or any other financial company in the middle.", - "title": "So what exactly is Bitcoin?", - "type": "Text" + "whatIsBitcoin": { + "title": "So what exactly is Bitcoin?", + "questions": { + "whatIsBitcoin": { + "answers": [ + "Digital Money", + "A video game", + "A new cartoon character" + ], + "feedback": [ + "Correct. You just earned 1 “sat”!", + "Incorrect, please try again.", + "Nope. At least not one that we know of!" + ], + "question": "So what exactly is Bitcoin", + "text": "Bitcoin is digital money. It can be transferred instantly and securely between any two people in the world — without the need for a bank or any other financial company in the middle.", + "title": "So what exactly is Bitcoin" + } + } + } } diff --git a/chapter-101-bitcoin-what-is-it/101.02-lesson-sat.json b/chapter-101-bitcoin-what-is-it/101.02-lesson-sat.json index cea476c..94fcb42 100644 --- a/chapter-101-bitcoin-what-is-it/101.02-lesson-sat.json +++ b/chapter-101-bitcoin-what-is-it/101.02-lesson-sat.json @@ -1,17 +1,22 @@ { - "answers": [ - "The smallest unit of Bitcoin", - "A small satellite", - "A space cat 🐱🚀" - ], - "feedback": [ - "Correct. You just earned another two sats!!", - "Maybe… but that is not the correct answer in this context 🙂", - "Ummm.... not quite!" - ], - "id": "sat", - "question": "I just earned a “Sat\". What is that?", - "text": "One “Sat” is the smallest unit of a bitcoin. We all know that one US Dollar can be divided into 100 cents. Similarly, one Bitcoin can be divided into 100,000,000 sats. In fact, you do not need to own one whole bitcoin in order to use it. You can use bitcoin whether you have 20 sats, 3000 sats — or 100,000,000 sats (which you now know is equal to one bitcoin).\n", - "title": "I just earned a “Sat”. What is that?", - "type": "Text" + "sat": { + "title": "I just earned a “Sat”. What is that?", + "questions": { + "sat": { + "answers": [ + "The smallest unit of Bitcoin", + "A small satellite", + "A space cat 🐱🚀" + ], + "feedback": [ + "Correct. You just earned another two sats!!", + "Maybe… but that is not the correct answer in this context 🙂", + "Ummm.... not quite!" + ], + "question": "I just earned a “Sat\". What is that?", + "text": "One “Sat” is the smallest unit of a bitcoin. We all know that one US Dollar can be divided into 100 cents. Similarly, one Bitcoin can be divided into 100,000,000 sats. In fact, you do not need to own one whole bitcoin in order to use it. You can use bitcoin whether you have 20 sats, 3000 sats — or 100,000,000 sats (which you now know is equal to one bitcoin).\n", + "title": "I just earned a “Sat\". What is that?" + } + } + } } diff --git a/chapter-101-bitcoin-what-is-it/101.03-lesson-where-bitcoin-exist.json b/chapter-101-bitcoin-what-is-it/101.03-lesson-where-bitcoin-exist.json index 8dafcb2..6b03a61 100644 --- a/chapter-101-bitcoin-what-is-it/101.03-lesson-where-bitcoin-exist.json +++ b/chapter-101-bitcoin-what-is-it/101.03-lesson-where-bitcoin-exist.json @@ -1,17 +1,22 @@ { - "answers": [ - "On the Internet", - "On the moon", - "In a Federal bank account" - ], - "feedback": [ - "Correct. You just earned another 5 sats.", - "Incorrect. Well… at least not yet ;)", - "Wrong. Please try again." - ], - "id": "whereBitcoinExist", - "question": "Where do the bitcoins exist?", - "text": "Bitcoin is a new form of money. It can be used by anyone, anytime -- anywhere in the world. It is not tied to a specific government or region (like US Dollars). There are also no paper bills, metal coins or plastic cards. Everything is 100% digital. Bitcoin is a network of computers running on the internet. Your bitcoin is easily managed with software on your smartphone or computer!\n", - "title": "Where do the bitcoins exist?", - "type": "Text" + "whereBitcoinExist": { + "title": "Where do the bitcoins exist?", + "questions": { + "whereBitcoinExist": { + "answers": [ + "On the Internet", + "On the moon", + "In a Federal bank account" + ], + "feedback": [ + "Correct. You just earned another 5 sats.", + "Incorrect. Well… at least not yet ;)", + "Wrong. Please try again." + ], + "question": "Where do the bitcoins exist?", + "text": "Bitcoin is a new form of money. It can be used by anyone, anytime -- anywhere in the world. It is not tied to a specific government or region (like US Dollars). There are also no paper bills, metal coins or plastic cards. Everything is 100% digital. Bitcoin is a network of computers running on the internet. Your bitcoin is easily managed with software on your smartphone or computer!\n", + "title": "Where do the bitcoins exist?" + } + } + } } diff --git a/chapter-101-bitcoin-what-is-it/101.04-lesson-who-controls-bitcoin.json b/chapter-101-bitcoin-what-is-it/101.04-lesson-who-controls-bitcoin.json index cf3f6ac..634cd17 100644 --- a/chapter-101-bitcoin-what-is-it/101.04-lesson-who-controls-bitcoin.json +++ b/chapter-101-bitcoin-what-is-it/101.04-lesson-who-controls-bitcoin.json @@ -1,17 +1,22 @@ { - "answers": [ - "A voluntary community of users around the world", - "Mr Burns from The Simpsons", - "The government of France" - ], - "feedback": [ - "That is right. Bitcoin is made possible by people all around the world running bitcoin software on their computers and smartphones.", - "An amusing thought — but not correct!", - "Wrong. There is no company nor government that controls Bitcoin." - ], - "id": "whoControlsBitcoin", - "question": "Who controls Bitcoin?", - "text": "Bitcoin is not controlled by any person, company or government. It is run by the community of users -- people and companies all around the world -- voluntarily running bitcoin software on their computers and smartphones.\n", - "title": "Who controls Bitcoin?", - "type": "Text" + "whoControlsBitcoin": { + "title": "Who controls Bitcoin?", + "questions": { + "whoControlsBitcoin": { + "answers": [ + "A voluntary community of users around the world", + "Mr Burns from The Simpsons", + "The government of France" + ], + "feedback": [ + "That is right. Bitcoin is made possible by people all around the world running bitcoin software on their computers and smartphones.", + "An amusing thought — but not correct!", + "Wrong. There is no company nor government that controls Bitcoin." + ], + "question": "Who controls Bitcoin?", + "text": "Bitcoin is not controlled by any person, company or government. It is run by the community of users -- people and companies all around the world -- voluntarily running bitcoin software on their computers and smartphones.\n", + "title": "Who controls Bitcoin?" + } + } + } } diff --git a/chapter-101-bitcoin-what-is-it/101.05-lesson-copy-bitcoin.json b/chapter-101-bitcoin-what-is-it/101.05-lesson-copy-bitcoin.json index 0b7f558..d488384 100644 --- a/chapter-101-bitcoin-what-is-it/101.05-lesson-copy-bitcoin.json +++ b/chapter-101-bitcoin-what-is-it/101.05-lesson-copy-bitcoin.json @@ -1,17 +1,22 @@ { - "answers": [ - "No — it is impossible to copy or duplicate the value of bitcoin", - "Yes, you can copy bitcoins just as easily as copying a digital photo", - "Yes, but copying bitcoin requires very specialized computers" - ], - "feedback": [ - "copy or duplicate the value of bitcoin", - "You know that it is not true. Try again.", - "Incorrect. There is no way for anyone to copy, or create a duplicate, of bitcoin." - ], - "id": "copyBitcoin", - "question": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", - "text": "The value of a bitcoin can never be copied. This is the very reason why Bitcoin is such a powerful new invention!! Most digital files — such as an iPhone photo, an MP3 song, or a Microsoft Word document — can easily be duplicated and shared. The Bitcoin software uniquely prevents the duplication — or “double spending” — of digital money. We will share exactly how this works later on!\n", - "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", - "type": "Text" + "copyBitcoin": { + "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", + "questions": { + "copyBitcoin": { + "answers": [ + "No — it is impossible to copy or duplicate the value of bitcoin", + "Yes, you can copy bitcoins just as easily as copying a digital photo", + "Yes, but copying bitcoin requires very specialized computers" + ], + "feedback": [ + "copy or duplicate the value of bitcoin", + "You know that it is not true. Try again.", + "Incorrect. There is no way for anyone to copy, or create a duplicate, of bitcoin." + ], + "question": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", + "text": "The value of a bitcoin can never be copied. This is the very reason why Bitcoin is such a powerful new invention!! Most digital files — such as an iPhone photo, an MP3 song, or a Microsoft Word document — can easily be duplicated and shared. The Bitcoin software uniquely prevents the duplication — or “double spending” — of digital money. We will share exactly how this works later on!\n", + "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?" + } + } + } } diff --git a/chapter-102-what-is-money/102-combined.json b/chapter-102-what-is-money/102-combined.json index 4ccc69e..8bd9cf0 100644 --- a/chapter-102-what-is-money/102-combined.json +++ b/chapter-102-what-is-money/102-combined.json @@ -1,110 +1,134 @@ -{ - "content": [ - { - "answers": [ - "Because people trust that other people will value money similarly", - "Because your mother told you so", - "Because a dollar bill is worth its weight in gold" - ], - "feedback": [ - "Correct. This is what allows money to work!", - "She may well have. But that is not the correct answer here!", - "Nope. In the past you could exchange US dollars for gold. But this is no longer the case." - ], - "id": "moneySocialAgreement", - "question": "Why does money have value?", - "text": "Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.\n", +[ + { + "moneySocialAgreement": { "title": "Money is a social agreement.", - "type": "Text" - }, - { - "answers": [ - "Coincidence of wants", - "Coincidence of day and night", - "Coincidence of the moon blocking the sun" - ], - "feedback": [ - "That is right. Money allows you to easily purchase something, without haggling about the form of payment", - "No silly, you know that is not the answer.", - "Not quite. We call that a solar eclipse 🌚" - ], - "id": "coincidenceOfWants", - "question": "Which coincidence does money solve?", - "text": "Centuries ago, before people had money, they would barter -- or haggle over how to trade one unique item, in exchange for another item or service. Let’s say you wanted to have a meal at the local restaurant, and offered the owner a broom. The owner might say “no” -- but I will accept three hats instead, if you happen to have them. You can imagine how difficult and inefficient a “barter economy” would be! By contrast, with money, you can simply present a $20 bill. And you know that the restaurant owner will readily accept it.\n", + "questions": { + "moneySocialAgreement": { + "answers": [ + "Because people trust that other people will value money similarly", + "Because your mother told you so", + "Because a dollar bill is worth its weight in gold" + ], + "feedback": [ + "Correct. This is what allows money to work!", + "She may well have. But that is not the correct answer here!", + "Nope. In the past you could exchange US dollars for gold. But this is no longer the case." + ], + "question": "Why does money have value?", + "text": "Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.\n", + "title": "Why does money have value?" + } + } + } + }, + { + "coincidenceOfWants": { "title": "Money solves the “coincidence of wants”... What is that??", - "type": "Text" - }, - { - "answers": [ - "Stones, seashells and gold", - "Tiny plastic Monopoly board game houses", - "Coins made of chocolate" - ], - "feedback": [ - "Correct. Items that are rare and difficult to copy have often been used as money.", - "Wrong. They may have value when playing a game -- but not in the real world!", - "Nope. They may be tasty. But they are not useful as money." - ], - "id": "moneyEvolution", - "question": "What are some items that have been historically used as a unit of money?", - "text": "Thousands of years ago, a society in Micronesia used very large and scarce stones as a form of agreed currency. Starting in the 1500’s, rare Cowrie shells (found in the ocean) became commonly used in many nations as a form of money. And for millennia, gold has been used as a form of money for countries around the world -- including the United States (until 1971).\n", + "questions": { + "coincidenceOfWants": { + "answers": [ + "Coincidence of wants", + "Coincidence of day and night", + "Coincidence of the moon blocking the sun" + ], + "feedback": [ + "That is right. Money allows you to easily purchase something, without haggling about the form of payment", + "No silly, you know that is not the answer.", + "Not quite. We call that a solar eclipse 🌚" + ], + "question": "Which coincidence does money solve?", + "text": "Centuries ago, before people had money, they would barter -- or haggle over how to trade one unique item, in exchange for another item or service. Let’s say you wanted to have a meal at the local restaurant, and offered the owner a broom. The owner might say “no” -- but I will accept three hats instead, if you happen to have them. You can imagine how difficult and inefficient a “barter economy” would be! By contrast, with money, you can simply present a $20 bill. And you know that the restaurant owner will readily accept it.\n", + "title": "Which coincidence does money solve?" + } + } + } + }, + { + "moneyEvolution": { "title": "Money has evolved, since almost the beginning of time.", - "type": "Text" - }, - { - "answers": [ - "Because they have key characteristics -- such as being durable, uniform and divisible.", - "Because they are pretty and shiny.", - "Because they fit inside of your pocket" - ], - "feedback": [ - "Correct. More key characteristics include being scarce and portable.", - "Incorrect. That may be true, but alone are not great characteristics of money.", - "Not quite. Although these items were surely portable, that alone was not the reason to be used as money." - ], - "id": "whyStonesShellGold", - "question": "Why were stones, seashells and gold used as units of money?", - "text": "Well, these items all had some -- but not all -- of the characteristics of good money.\n\n\n\nSo what characteristics make for “good” money?\nScarce: not abundant, nor easy to reproduce or copy\nAccepted: relatively easy for people to verify its authenticity\nDurable: easy to maintain, and does not perish or fall apart\nUniform: readily interchangeable with another item of the same form\nPortable: easy to transport\nDivisible: can be split and shared in smaller pieces\n", + "questions": { + "moneyEvolution": { + "answers": [ + "Stones, seashells and gold", + "Tiny plastic Monopoly board game houses", + "Coins made of chocolate" + ], + "feedback": [ + "Correct. Items that are rare and difficult to copy have often been used as money.", + "Wrong. They may have value when playing a game -- but not in the real world!", + "Nope. They may be tasty. But they are not useful as money." + ], + "question": "What are some items that have been historically used as a unit of money?", + "text": "Thousands of years ago, a society in Micronesia used very large and scarce stones as a form of agreed currency. Starting in the 1500’s, rare Cowrie shells (found in the ocean) became commonly used in many nations as a form of money. And for millennia, gold has been used as a form of money for countries around the world -- including the United States (until 1971).\n", + "title": "What are some items that have been historically used as a unit of money?" + } + } + } + }, + { + "whyStonesShellGold": { "title": "Why were stones, shells and gold commonly used as money in the past?", - "type": "Text" - }, - { - "answers": [ - "Money allows people to buy goods and services today -- and tomorrow.", - "Money allows you to go to the moon.", - "Money is the solution to all problems." - ], - "feedback": [ - "That is right!", - "Incorrect. Although that may change in the future ;)", - "Not quite. Although some people may believe such, this answer does not address the primary purpose of money." - ], - "id": "moneyIsImportant", - "question": "What is the primary reason money is important?", - "text": "Everybody knows that money matters.\n\n\nMost people exchange their time and energy -- in the form of work -- to obtain money. People do so, to be able to buy goods and services today -- and in the future.\n", + "questions": { + "whyStonesShellGold": { + "answers": [ + "Because they have key characteristics -- such as being durable, uniform and divisible.", + "Because they are pretty and shiny.", + "Because they fit inside of your pocket" + ], + "feedback": [ + "Correct. More key characteristics include being scarce and portable.", + "Incorrect. That may be true, but alone are not great characteristics of money.", + "Not quite. Although these items were surely portable, that alone was not the reason to be used as money." + ], + "question": "Why were stones, seashells and gold used as units of money?", + "text": "Well, these items all had some -- but not all -- of the characteristics of good money.\n\n\n\nSo what characteristics make for “good” money?\nScarce: not abundant, nor easy to reproduce or copy\nAccepted: relatively easy for people to verify its authenticity\nDurable: easy to maintain, and does not perish or fall apart\nUniform: readily interchangeable with another item of the same form\nPortable: easy to transport\nDivisible: can be split and shared in smaller pieces\n", + "title": "Why were stones, seashells and gold used as units of money?" + } + } + } + }, + { + "moneyIsImportant": { "title": "Money is important to individuals", - "type": "Text" - }, - { - "answers": [ - "The US Central Bank (The Federal Reserve)", - "Mr Burns from The Simpsons", - "A guy with a printing press in his basement" - ], - "feedback": [ - "Correct. The US Government can print as much money as they want at any time.", - "Incorrect. Although it did seem like he always had a lot of money.", - "No. Whilst some people do create fake dollar bills, it is definitely not legal!" - ], - "id": "moneyImportantGovernement", - "question": "Who can legally print US Dollars, anytime they wish?", - "text": "Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.\n \n Accordingly, in most every nation, the government holds the power to issue and control money.\n\n\n In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.\n\n\n The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\n Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??\n", + "questions": { + "moneyIsImportant": { + "answers": [ + "Money allows people to buy goods and services today -- and tomorrow.", + "Money allows you to go to the moon.", + "Money is the solution to all problems." + ], + "feedback": [ + "That is right!", + "Incorrect. Although that may change in the future ;)", + "Not quite. Although some people may believe such, this answer does not address the primary purpose of money." + ], + "question": "What is the primary reason money is important?", + "text": "Everybody knows that money matters.\n\n\nMost people exchange their time and energy -- in the form of work -- to obtain money. People do so, to be able to buy goods and services today -- and in the future.\n", + "title": "What is the primary reason money is important?" + } + } + } + }, + { + "moneyImportantGovernement": { "title": "Money is also important to governments", - "type": "Text" + "questions": { + "moneyImportantGovernement": { + "answers": [ + "The US Central Bank (The Federal Reserve)", + "Mr Burns from The Simpsons", + "A guy with a printing press in his basement" + ], + "feedback": [ + "Correct. The US Government can print as much money as they want at any time.", + "Incorrect. Although it did seem like he always had a lot of money.", + "No. Whilst some people do create fake dollar bills, it is definitely not legal!" + ], + "question": "Who can legally print US Dollars, anytime they wish?", + "text": "Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.\n \n Accordingly, in most every nation, the government holds the power to issue and control money.\n\n\n In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.\n\n\n The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\n Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??\n", + "title": "Who can legally print US Dollars, anytime they wish?" + } + } } - ], - "meta": { - "id": "WhatisMoney?", - "title": "What is Money?" } -} +] diff --git a/chapter-102-what-is-money/102-es-combined.json b/chapter-102-what-is-money/102-es-combined.json deleted file mode 100644 index 33bcc55..0000000 --- a/chapter-102-what-is-money/102-es-combined.json +++ /dev/null @@ -1,110 +0,0 @@ -{ - "content": [ - { - "answers": [ - "Porque la gente conf\u00eda en que otras personas valorar\u00e1n el dinero de manera similar.", - "Porque tu madre te lo dijo", - "Porque un billete de un d\u00f3lar vale su peso en oro" - ], - "feedback": [ - "Correcto. \u00a1Esto es lo que permite que el dinero funcione!", - "Es muy posible que lo haya hecho. \u00a1Pero esa no es la respuesta correcta aqu\u00ed!", - "No. En el pasado se pod\u00edan cambiar d\u00f3lares estadounidenses por oro. Pero esto ya no es el caso." - ], - "id": "dineroSocialAcuerdo", - "question": "\u00bfPor qu\u00e9 el dinero tiene valor?", - "text": "El dinero requiere que la gente conf\u00ede. La gente conf\u00eda en los billetes de un d\u00f3lar que lleva en el bolsillo. Conf\u00edan en los d\u00edgitos de su cuenta bancaria en l\u00ednea. Conf\u00edan en que el saldo de una tarjeta de regalo de la tienda se podr\u00e1 canjear. Tener dinero permite a las personas intercambiarlo f\u00e1cilmente por un bien o servicio.\n", - "title": "El dinero es un acuerdo social.", - "type": "Texto" - }, - { - "answers": [ - "Coincidencia de deseos", - "Coincidencia del d\u00eda y la noche.", - "Coincidencia de la luna bloqueando el sol." - ], - "feedback": [ - "Eso es correcto. El dinero te permite comprar algo f\u00e1cilmente, sin regatear la forma de pago.", - "No tonto, sabes que esa no es la respuesta.", - "No exactamente. A eso lo llamamos eclipse solar \ud83c\udf1a" - ], - "id": "coincidenciadequieres", - "question": "\u00bfQu\u00e9 coincidencia resuelve el dinero?", - "text": "Hace siglos, antes de que la gente tuviera dinero, hac\u00edan trueques o regateaban sobre c\u00f3mo intercambiar un art\u00edculo \u00fanico a cambio de otro art\u00edculo o servicio. Digamos que usted quiere comer en el restaurante local y le ofrece al due\u00f1o una escoba. El propietario podr\u00eda decir \u201cno\u201d, pero en su lugar aceptar\u00e9 tres sombreros, si es que los tienes. \u00a1Puedes imaginar lo dif\u00edcil e ineficiente que ser\u00eda una \u201ceconom\u00eda de trueque\u201d! Por el contrario, con el dinero, simplemente puedes presentar un billete de 20 d\u00f3lares. Y sabes que el due\u00f1o del restaurante lo aceptar\u00e1 de buena gana.\n", - "title": "El dinero soluciona la \u201ccoincidencia de deseos\u201d... \u00bf\u00bfQu\u00e9 es eso??", - "type": "Texto" - }, - { - "answers": [ - "Piedras, conchas y oro.", - "Peque\u00f1as casas de pl\u00e1stico para juegos de mesa Monopoly", - "Monedas hechas de chocolate" - ], - "feedback": [ - "Correcto. Los art\u00edculos que son raros y dif\u00edciles de copiar a menudo se han utilizado como dinero.", - "Equivocado. Es posible que tengan valor al jugar, \u00a1pero no en el mundo real!", - "No. Puede que sean sabrosos. Pero no sirven como dinero." - ], - "id": "dineroEvoluci\u00f3n", - "question": "\u00bfCu\u00e1les son algunos elementos que hist\u00f3ricamente se han utilizado como unidad monetaria?", - "text": "Hace miles de a\u00f1os, una sociedad de Micronesia utilizaba piedras muy grandes y escasas como forma de moneda acordada. A partir del siglo XVI, las raras conchas de cauri (que se encuentran en el oc\u00e9ano) se empezaron a utilizar com\u00fanmente en muchas naciones como forma de dinero. Y durante milenios, el oro se ha utilizado como forma de dinero en pa\u00edses de todo el mundo, incluido Estados Unidos (hasta 1971).\n", - "title": "El dinero ha evolucionado, casi desde el principio de los tiempos.", - "type": "Texto" - }, - { - "answers": [ - "Porque tienen caracter\u00edsticas clave, como ser duraderos, uniformes y divisibles.", - "Porque son bonitos y brillantes.", - "Porque caben dentro de tu bolsillo." - ], - "feedback": [ - "Correcto. Otras caracter\u00edsticas clave incluyen ser escasos y port\u00e1tiles.", - "Incorrecto. Puede que sea cierto, pero por s\u00ed solos no son grandes caracter\u00edsticas del dinero.", - "No exactamente. Aunque estos art\u00edculos seguramente eran port\u00e1tiles, esa por s\u00ed sola no era la raz\u00f3n para usarlos como dinero." - ], - "id": "por qu\u00e9PiedrasConchaOro", - "question": "\u00bfPor qu\u00e9 se utilizaron piedras, conchas y oro como unidades monetarias?", - "text": "Bueno, todos estos art\u00edculos ten\u00edan algunas, pero no todas, las caracter\u00edsticas del buen dinero.\n\n\n\nEntonces, \u00bfqu\u00e9 caracter\u00edsticas hacen que el dinero sea \u201cbueno\u201d?\nEscaso: no abundante, ni f\u00e1cil de reproducir o copiar\nAceptado: relativamente f\u00e1cil para las personas verificar su autenticidad.\nDurable: f\u00e1cil de mantener y no se deteriora ni se deshace\nUniforme: f\u00e1cilmente intercambiable con otro elemento de la misma forma.\nPort\u00e1til: f\u00e1cil de transportar\nDivisible: se puede dividir y compartir en partes m\u00e1s peque\u00f1as\n", - "title": "\u00bfPor qu\u00e9 en el pasado se utilizaban com\u00fanmente piedras, conchas y oro como dinero?", - "type": "Texto" - }, - { - "answers": [ - "El dinero permite a las personas comprar bienes y servicios hoy y ma\u00f1ana.", - "El dinero te permite ir a la luna.", - "El dinero es la soluci\u00f3n a todos los problemas." - ], - "feedback": [ - "\u00a1Eso es correcto!", - "Incorrecto. Aunque eso puede cambiar en el futuro ;)", - "No exactamente. Aunque algunas personas puedan creerlo, esta respuesta no aborda el prop\u00f3sito principal del dinero." - ], - "id": "el dinero es importante", - "question": "\u00bfCu\u00e1l es la raz\u00f3n principal por la que el dinero es importante?", - "text": "Todo el mundo sabe que el dinero importa.\n\n\nLa mayor\u00eda de la gente intercambia su tiempo y energ\u00eda \u2013en forma de trabajo\u2013 para obtener dinero. La gente lo hace para poder comprar bienes y servicios hoy y en el futuro.\n", - "title": "El dinero es importante para las personas.", - "type": "Texto" - }, - { - "answers": [ - "El Banco Central de EE.UU. (La Reserva Federal)", - "Se\u00f1or Burns de Los Simpson", - "Un tipo con una imprenta en su s\u00f3tano." - ], - "feedback": [ - "Correcto. El gobierno de Estados Unidos puede imprimir tanto dinero como quiera en cualquier momento.", - "Incorrecto. Aunque parec\u00eda que siempre tuvo mucho dinero.", - "No. Aunque algunas personas crean billetes de d\u00f3lares falsos, \u00a1definitivamente no es legal!" - ], - "id": "dineroImportanteGobierno", - "question": "\u00bfQui\u00e9n puede imprimir d\u00f3lares estadounidenses legalmente en cualquier momento que lo desee?", - "text": "Las econom\u00edas modernas est\u00e1n organizadas por estados-naci\u00f3n: Estados Unidos, Jap\u00f3n, Suiza, Brasil, Noruega, China, etc.\n \n En consecuencia, en casi todos los pa\u00edses, el gobierno tiene el poder de emitir y controlar dinero.\n\n\n En Estados Unidos, el Banco Central (conocido como Reserva Federal o \u201cFed\u201d) puede imprimir o crear m\u00e1s d\u00f3lares estadounidenses en cualquier momento que desee.\n\n\n La \u201cFed\u201d no necesita permiso del Presidente, ni del Congreso, y mucho menos de los ciudadanos estadounidenses.\n\n\n Imag\u00ednese si tuviera la capacidad de imprimir d\u00f3lares estadounidenses en cualquier momento que quisiera, \u00bfqu\u00e9 har\u00eda?\n", - "title": "El dinero tambi\u00e9n es importante para los gobiernos", - "type": "Texto" - } - ], - "meta": { - "id": "\u00bfQu\u00e9 es el dinero?", - "title": "\u00bfQu\u00e9 es el dinero?" - } -} \ No newline at end of file diff --git a/chapter-102-what-is-money/102.01-lesson-money-social-agreement.json b/chapter-102-what-is-money/102.01-lesson-money-social-agreement.json index 328c82d..e5174e9 100644 --- a/chapter-102-what-is-money/102.01-lesson-money-social-agreement.json +++ b/chapter-102-what-is-money/102.01-lesson-money-social-agreement.json @@ -1,17 +1,22 @@ { - "answers": [ - "Because people trust that other people will value money similarly", - "Because your mother told you so", - "Because a dollar bill is worth its weight in gold" - ], - "feedback": [ - "Correct. This is what allows money to work!", - "She may well have. But that is not the correct answer here!", - "Nope. In the past you could exchange US dollars for gold. But this is no longer the case." - ], - "id": "moneySocialAgreement", - "question": "Why does money have value?", - "text": "Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.\n", - "title": "Money is a social agreement.", - "type": "Text" + "moneySocialAgreement": { + "title": "Money is a social agreement.", + "questions": { + "moneySocialAgreement": { + "answers": [ + "Because people trust that other people will value money similarly", + "Because your mother told you so", + "Because a dollar bill is worth its weight in gold" + ], + "feedback": [ + "Correct. This is what allows money to work!", + "She may well have. But that is not the correct answer here!", + "Nope. In the past you could exchange US dollars for gold. But this is no longer the case." + ], + "question": "Why does money have value?", + "text": "Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.\n", + "title": "Why does money have value?" + } + } + } } diff --git a/chapter-102-what-is-money/102.02-lesson-coincidence-of-wants.json b/chapter-102-what-is-money/102.02-lesson-coincidence-of-wants.json index dc94a1f..5379d27 100644 --- a/chapter-102-what-is-money/102.02-lesson-coincidence-of-wants.json +++ b/chapter-102-what-is-money/102.02-lesson-coincidence-of-wants.json @@ -1,17 +1,22 @@ { - "answers": [ - "Coincidence of wants", - "Coincidence of day and night", - "Coincidence of the moon blocking the sun" - ], - "feedback": [ - "That is right. Money allows you to easily purchase something, without haggling about the form of payment", - "No silly, you know that is not the answer.", - "Not quite. We call that a solar eclipse 🌚" - ], - "id": "coincidenceOfWants", - "question": "Which coincidence does money solve?", - "text": "Centuries ago, before people had money, they would barter -- or haggle over how to trade one unique item, in exchange for another item or service. Let’s say you wanted to have a meal at the local restaurant, and offered the owner a broom. The owner might say “no” -- but I will accept three hats instead, if you happen to have them. You can imagine how difficult and inefficient a “barter economy” would be! By contrast, with money, you can simply present a $20 bill. And you know that the restaurant owner will readily accept it.\n", - "title": "Money solves the “coincidence of wants”... What is that??", - "type": "Text" + "coincidenceOfWants": { + "title": "Money solves the “coincidence of wants”... What is that??", + "questions": { + "coincidenceOfWants": { + "answers": [ + "Coincidence of wants", + "Coincidence of day and night", + "Coincidence of the moon blocking the sun" + ], + "feedback": [ + "That is right. Money allows you to easily purchase something, without haggling about the form of payment", + "No silly, you know that is not the answer.", + "Not quite. We call that a solar eclipse 🌚" + ], + "question": "Which coincidence does money solve?", + "text": "Centuries ago, before people had money, they would barter -- or haggle over how to trade one unique item, in exchange for another item or service. Let’s say you wanted to have a meal at the local restaurant, and offered the owner a broom. The owner might say “no” -- but I will accept three hats instead, if you happen to have them. You can imagine how difficult and inefficient a “barter economy” would be! By contrast, with money, you can simply present a $20 bill. And you know that the restaurant owner will readily accept it.\n", + "title": "Which coincidence does money solve?" + } + } + } } diff --git a/chapter-102-what-is-money/102.03-lesson-money-evolution.json b/chapter-102-what-is-money/102.03-lesson-money-evolution.json index 35cf4f3..ff2fec2 100644 --- a/chapter-102-what-is-money/102.03-lesson-money-evolution.json +++ b/chapter-102-what-is-money/102.03-lesson-money-evolution.json @@ -1,17 +1,22 @@ { - "answers": [ - "Stones, seashells and gold", - "Tiny plastic Monopoly board game houses", - "Coins made of chocolate" - ], - "feedback": [ - "Correct. Items that are rare and difficult to copy have often been used as money.", - "Wrong. They may have value when playing a game -- but not in the real world!", - "Nope. They may be tasty. But they are not useful as money." - ], - "id": "moneyEvolution", - "question": "What are some items that have been historically used as a unit of money?", - "text": "Thousands of years ago, a society in Micronesia used very large and scarce stones as a form of agreed currency. Starting in the 1500’s, rare Cowrie shells (found in the ocean) became commonly used in many nations as a form of money. And for millennia, gold has been used as a form of money for countries around the world -- including the United States (until 1971).\n", - "title": "Money has evolved, since almost the beginning of time.", - "type": "Text" + "moneyEvolution": { + "title": "Money has evolved, since almost the beginning of time.", + "questions": { + "moneyEvolution": { + "answers": [ + "Stones, seashells and gold", + "Tiny plastic Monopoly board game houses", + "Coins made of chocolate" + ], + "feedback": [ + "Correct. Items that are rare and difficult to copy have often been used as money.", + "Wrong. They may have value when playing a game -- but not in the real world!", + "Nope. They may be tasty. But they are not useful as money." + ], + "question": "What are some items that have been historically used as a unit of money?", + "text": "Thousands of years ago, a society in Micronesia used very large and scarce stones as a form of agreed currency. Starting in the 1500’s, rare Cowrie shells (found in the ocean) became commonly used in many nations as a form of money. And for millennia, gold has been used as a form of money for countries around the world -- including the United States (until 1971).\n", + "title": "What are some items that have been historically used as a unit of money?" + } + } + } } diff --git a/chapter-102-what-is-money/102.04-lesson-why-stones-shell-gold.json b/chapter-102-what-is-money/102.04-lesson-why-stones-shell-gold.json index 0b98de0..773321b 100644 --- a/chapter-102-what-is-money/102.04-lesson-why-stones-shell-gold.json +++ b/chapter-102-what-is-money/102.04-lesson-why-stones-shell-gold.json @@ -1,17 +1,22 @@ { - "answers": [ - "Because they have key characteristics -- such as being durable, uniform and divisible.", - "Because they are pretty and shiny.", - "Because they fit inside of your pocket" - ], - "feedback": [ - "Correct. More key characteristics include being scarce and portable.", - "Incorrect. That may be true, but alone are not great characteristics of money.", - "Not quite. Although these items were surely portable, that alone was not the reason to be used as money." - ], - "id": "whyStonesShellGold", - "question": "Why were stones, seashells and gold used as units of money?", - "text": "Well, these items all had some -- but not all -- of the characteristics of good money.\n\n\n\nSo what characteristics make for “good” money?\nScarce: not abundant, nor easy to reproduce or copy\nAccepted: relatively easy for people to verify its authenticity\nDurable: easy to maintain, and does not perish or fall apart\nUniform: readily interchangeable with another item of the same form\nPortable: easy to transport\nDivisible: can be split and shared in smaller pieces\n", - "title": "Why were stones, shells and gold commonly used as money in the past?", - "type": "Text" + "whyStonesShellGold": { + "title": "Why were stones, shells and gold commonly used as money in the past?", + "questions": { + "whyStonesShellGold": { + "answers": [ + "Because they have key characteristics -- such as being durable, uniform and divisible.", + "Because they are pretty and shiny.", + "Because they fit inside of your pocket" + ], + "feedback": [ + "Correct. More key characteristics include being scarce and portable.", + "Incorrect. That may be true, but alone are not great characteristics of money.", + "Not quite. Although these items were surely portable, that alone was not the reason to be used as money." + ], + "question": "Why were stones, seashells and gold used as units of money?", + "text": "Well, these items all had some -- but not all -- of the characteristics of good money.\n\n\n\nSo what characteristics make for “good” money?\nScarce: not abundant, nor easy to reproduce or copy\nAccepted: relatively easy for people to verify its authenticity\nDurable: easy to maintain, and does not perish or fall apart\nUniform: readily interchangeable with another item of the same form\nPortable: easy to transport\nDivisible: can be split and shared in smaller pieces\n", + "title": "Why were stones, seashells and gold used as units of money?" + } + } + } } diff --git a/chapter-102-what-is-money/102.05-lesson-money-is-important.json b/chapter-102-what-is-money/102.05-lesson-money-is-important.json index 918f6bf..86d76e5 100644 --- a/chapter-102-what-is-money/102.05-lesson-money-is-important.json +++ b/chapter-102-what-is-money/102.05-lesson-money-is-important.json @@ -1,17 +1,22 @@ { - "answers": [ - "Money allows people to buy goods and services today -- and tomorrow.", - "Money allows you to go to the moon.", - "Money is the solution to all problems." - ], - "feedback": [ - "That is right!", - "Incorrect. Although that may change in the future ;)", - "Not quite. Although some people may believe such, this answer does not address the primary purpose of money." - ], - "id": "moneyIsImportant", - "question": "What is the primary reason money is important?", - "text": "Everybody knows that money matters.\n\n\nMost people exchange their time and energy -- in the form of work -- to obtain money. People do so, to be able to buy goods and services today -- and in the future.\n", - "title": "Money is important to individuals", - "type": "Text" + "moneyIsImportant": { + "title": "Money is important to individuals", + "questions": { + "moneyIsImportant": { + "answers": [ + "Money allows people to buy goods and services today -- and tomorrow.", + "Money allows you to go to the moon.", + "Money is the solution to all problems." + ], + "feedback": [ + "That is right!", + "Incorrect. Although that may change in the future ;)", + "Not quite. Although some people may believe such, this answer does not address the primary purpose of money." + ], + "question": "What is the primary reason money is important?", + "text": "Everybody knows that money matters.\n\n\nMost people exchange their time and energy -- in the form of work -- to obtain money. People do so, to be able to buy goods and services today -- and in the future.\n", + "title": "What is the primary reason money is important?" + } + } + } } diff --git a/chapter-102-what-is-money/102.06-lesson-money-important-governement.json b/chapter-102-what-is-money/102.06-lesson-money-important-governement.json index 6bfe494..d32266a 100644 --- a/chapter-102-what-is-money/102.06-lesson-money-important-governement.json +++ b/chapter-102-what-is-money/102.06-lesson-money-important-governement.json @@ -1,17 +1,22 @@ { - "answers": [ - "The US Central Bank (The Federal Reserve)", - "Mr Burns from The Simpsons", - "A guy with a printing press in his basement" - ], - "feedback": [ - "Correct. The US Government can print as much money as they want at any time.", - "Incorrect. Although it did seem like he always had a lot of money.", - "No. Whilst some people do create fake dollar bills, it is definitely not legal!" - ], - "id": "moneyImportantGovernement", - "question": "Who can legally print US Dollars, anytime they wish?", - "text": "Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.\n \n Accordingly, in most every nation, the government holds the power to issue and control money.\n\n\n In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.\n\n\n The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\n Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??\n", - "title": "Money is also important to governments", - "type": "Text" + "moneyImportantGovernement": { + "title": "Money is also important to governments", + "questions": { + "moneyImportantGovernement": { + "answers": [ + "The US Central Bank (The Federal Reserve)", + "Mr Burns from The Simpsons", + "A guy with a printing press in his basement" + ], + "feedback": [ + "Correct. The US Government can print as much money as they want at any time.", + "Incorrect. Although it did seem like he always had a lot of money.", + "No. Whilst some people do create fake dollar bills, it is definitely not legal!" + ], + "question": "Who can legally print US Dollars, anytime they wish?", + "text": "Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.\n \n Accordingly, in most every nation, the government holds the power to issue and control money.\n\n\n In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.\n\n\n The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\n Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??\n", + "title": "Who can legally print US Dollars, anytime they wish?" + } + } + } } diff --git a/chapter-103-how-does-money-work/103-combined.json b/chapter-103-how-does-money-work/103-combined.json index 20d9e2f..e905c59 100644 --- a/chapter-103-how-does-money-work/103-combined.json +++ b/chapter-103-how-does-money-work/103-combined.json @@ -1,93 +1,112 @@ -{ - "content": [ - { - "answers": [ - "They are created by order of the National government in a given country.", - "By the manager of the local branch bank.", - "The Monopoly Money Man." - ], - "feedback": [ - "Correct. The central bank of a government creates fiat currencies.", - "Not quite. While local banks can give out loans based on credit and create money by doing so, they cannot create fiat currencies. Try again.", - "Nope. Try again!" - ], - "id": "WhatIsFiat", - "question": "Who creates fiat currencies, such as US Dollars or Swiss Francs?", - "text": "All national currencies in circulation today are called “fiat” money. This includes US Dollars, Japanese Yen, Swiss Francs, and so forth.\n\n\nThe word “fiat” is latin for “by decree” -- which means “by official order”.\n\n\nThis means that all fiat money -- including the US Dollar -- is simply created by the order of the national government.\n", +[ + { + "WhatIsFiat": { "title": "Fiat Currency: What is that?", - "type": "Text" - }, - { - "answers": [ - "All fiat currency is eventually abused by government authorities.", - "Local banks might not have enough vault space to hold all of the dollar bills.", - "There might not be enough trees to make paper for all of the additional dollar bills." - ], - "feedback": [ - "Correct. Throughout history, governments have been unable to resist the ability to print money, as they effectively have no obligation to repay this money.", - "Nope, that is certainly not the case.", - "Wrong. Please try again." - ], - "id": "whyCareAboutFiatMoney", - "question": "Why should I care about the government controlling fiat money?", - "text": "As shared in a prior quiz, the US Central Bank is the Federal Reserve, or the “Fed”.\n\n\nThe Fed can print more dollars at any time -- and does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\nHaving control of money can be very tempting for authorities to abuse -- and often time leads to massive inflation, arbitrary confiscation and corruption.\n\n\nIn fact, Alan Greenspan, the famous former chairman of The Fed, famously said the US “can pay any debt that it has, because we can always print more to do that”.\n", + "questions": { + "WhatIsFiat": { + "answers": [ + "They are created by order of the National government in a given country.", + "By the manager of the local branch bank.", + "The Monopoly Money Man." + ], + "feedback": [ + "Correct. The central bank of a government creates fiat currencies.", + "Not quite. While local banks can give out loans based on credit and create money by doing so, they cannot create fiat currencies. Try again.", + "Nope. Try again!" + ], + "question": "Who creates fiat currencies, such as US Dollars or Swiss Francs?", + "text": "All national currencies in circulation today are called “fiat” money. This includes US Dollars, Japanese Yen, Swiss Francs, and so forth.\n\n\nThe word “fiat” is latin for “by decree” -- which means “by official order”.\n\n\nThis means that all fiat money -- including the US Dollar -- is simply created by the order of the national government.\n", + "title": "Who creates fiat currencies, such as US Dollars or Swiss Francs?" + } + } + } + }, + { + "whyCareAboutFiatMoney": { "title": "I trust my government. Why should I care about fiat money?", - "type": "Text" - }, - { - "answers": [ - "The printing of additional money leads to inflation.", - "People must exchange old dollar bills at the bank every year.", - "The appearance of the dollar bill changes." - ], - "feedback": [ - "Correct. This means that goods and services will cost more in the future.", - "Nope. Older dollar bills are just as valid as newer ones.", - "Incorrect. Although the government may issue new looks for bills, this has nothing to do with increasing the money supply." - ], - "id": "GovernementCanPrintMoney", - "question": "What does it mean when the government prints money?", - "text": "Well, everybody should care!\n\n\nThe practice of government printing money -- or increasing the supply of dollars -- leads to inflation.\n\n\nInflation is an increase in the price of goods and services. In other words, the price for something in the future will be more expensive than today.\n\n\nSo what does inflation mean for citizens?\n\n\nIn the United Kingdom, the Pound Sterling has lost 99.5% of its value since being introduced over 300 years ago.\n\n\nIn the United States, the dollar has lost 97% of its value since the end of WWI, about 100 years ago.\n\n\nThis means a steak that cost $0.30 in 1920... was $3 in 1990… and about $15 today, in the year 2020!\n", + "questions": { + "whyCareAboutFiatMoney": { + "answers": [ + "All fiat currency is eventually abused by government authorities.", + "Local banks might not have enough vault space to hold all of the dollar bills.", + "There might not be enough trees to make paper for all of the additional dollar bills." + ], + "feedback": [ + "Correct. Throughout history, governments have been unable to resist the ability to print money, as they effectively have no obligation to repay this money.", + "Nope, that is certainly not the case.", + "Wrong. Please try again." + ], + "question": "Why should I care about the government controlling fiat money?", + "text": "As shared in a prior quiz, the US Central Bank is the Federal Reserve, or the “Fed”.\n\n\nThe Fed can print more dollars at any time -- and does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\nHaving control of money can be very tempting for authorities to abuse -- and often time leads to massive inflation, arbitrary confiscation and corruption.\n\n\nIn fact, Alan Greenspan, the famous former chairman of The Fed, famously said the US “can pay any debt that it has, because we can always print more to do that”.\n", + "title": "Why should I care about the government controlling fiat money?" + } + } + } + }, + { + "GovernementCanPrintMoney": { "title": "Who should care that the government can print unlimited money?", - "type": "Text" - }, - { - "answers": [ - "Every fiat currency that ever existed has lost a massive amount of value.", - "The value stays the same forever.", - "The look and design of paper bills is updated every 10 years or so." - ], - "feedback": [ - "Correct. This is true even for USD, which has lost 97% of its value during the last 100 years.", - "Incorrect. Please try again.", - "Not quite. Although the design of papers bills may change, this has nothing to do with their value." - ], - "id": "FiatLosesValueOverTime", - "question": "What happens to the value of all fiat money over time?", - "text": "That is correct.\n\n\nIn the history of the world, there have been 775 fiat currencies created. Most no longer exist, and the average life for any fiat money is only 27 years.\n\n\nThe British Pound is the oldest fiat currency. It has lost more than 99% of its value since 1694.\n\n\nThere is no precedent for any fiat money maintaining its value over time. This is inflation.\nIt is effectively a form of theft of your own hard earned money !\n", + "questions": { + "GovernementCanPrintMoney": { + "answers": [ + "The printing of additional money leads to inflation.", + "People must exchange old dollar bills at the bank every year.", + "The appearance of the dollar bill changes." + ], + "feedback": [ + "Correct. This means that goods and services will cost more in the future.", + "Nope. Older dollar bills are just as valid as newer ones.", + "Incorrect. Although the government may issue new looks for bills, this has nothing to do with increasing the money supply." + ], + "question": "What does it mean when the government prints money?", + "text": "Well, everybody should care!\n\n\nThe practice of government printing money -- or increasing the supply of dollars -- leads to inflation.\n\n\nInflation is an increase in the price of goods and services. In other words, the price for something in the future will be more expensive than today.\n\n\nSo what does inflation mean for citizens?\n\n\nIn the United Kingdom, the Pound Sterling has lost 99.5% of its value since being introduced over 300 years ago.\n\n\nIn the United States, the dollar has lost 97% of its value since the end of WWI, about 100 years ago.\n\n\nThis means a steak that cost $0.30 in 1920... was $3 in 1990… and about $15 today, in the year 2020!\n", + "title": "What does it mean when the government prints money?" + } + } + } + }, + { + "FiatLosesValueOverTime": { "title": "Does this mean that all fiat money loses value over time?", - "type": "Text" - }, - { - "answers": [ - "Money is difficult to move around the world, and can also be surveilled.", - "Money is no longer needed in the 21st Century.", - "Money is the root of all evil." - ], - "feedback": [ - "Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!", - "Wrong answer. You know that is not true.", - "While some may believe this to be so, it is not the answer we are looking for here." - ], - "id": "OtherIssues", - "question": "What are some other issues that exist with fiat money?", - "text": "Yes, there are many other issues that exist with modern fiat money.\n\n\nFirst, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.\n\n\nSecond, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.\n\n\nEver notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.\n", + "questions": { + "FiatLosesValueOverTime": { + "answers": [ + "Every fiat currency that ever existed has lost a massive amount of value.", + "The value stays the same forever.", + "The look and design of paper bills is updated every 10 years or so." + ], + "feedback": [ + "Correct. This is true even for USD, which has lost 97% of its value during the last 100 years.", + "Incorrect. Please try again.", + "Not quite. Although the design of papers bills may change, this has nothing to do with their value." + ], + "question": "What happens to the value of all fiat money over time?", + "text": "That is correct.\n\n\nIn the history of the world, there have been 775 fiat currencies created. Most no longer exist, and the average life for any fiat money is only 27 years.\n\n\nThe British Pound is the oldest fiat currency. It has lost more than 99% of its value since 1694.\n\n\nThere is no precedent for any fiat money maintaining its value over time. This is inflation.\nIt is effectively a form of theft of your own hard earned money !\n", + "title": "What happens to the value of all fiat money over time?" + } + } + } + }, + { + "OtherIssues": { "title": "OK, fiat money loses value over time. Are there other issues?", - "type": "Text" + "questions": { + "OtherIssues": { + "answers": [ + "Money is difficult to move around the world, and can also be surveilled.", + "Money is no longer needed in the 21st Century.", + "Money is the root of all evil." + ], + "feedback": [ + "Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!", + "Wrong answer. You know that is not true.", + "While some may believe this to be so, it is not the answer we are looking for here." + ], + "question": "What are some other issues that exist with fiat money?", + "text": "Yes, there are many other issues that exist with modern fiat money.\n\n\nFirst, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.\n\n\nSecond, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.\n\n\nEver notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.\n", + "title": "What are some other issues that exist with fiat money?" + } + } } - ], - "meta": { - "id": "HowDoesMoneyWork?", - "title": "How Does Money Work?" } -} +] diff --git a/chapter-103-how-does-money-work/103-es-combined.json b/chapter-103-how-does-money-work/103-es-combined.json deleted file mode 100644 index 8cc873c..0000000 --- a/chapter-103-how-does-money-work/103-es-combined.json +++ /dev/null @@ -1,93 +0,0 @@ -{ - "content": [ - { - "answers": [ - "Se crean por orden del gobierno Nacional de un pa\u00eds determinado.", - "Por el gerente de la sucursal bancaria local.", - "El hombre del dinero del monopolio." - ], - "feedback": [ - "Correcto. El banco central de un gobierno crea monedas fiduciarias.", - "No exactamente. Si bien los bancos locales pueden otorgar pr\u00e9stamos basados en cr\u00e9dito y generar dinero al hacerlo, no pueden crear monedas fiduciarias. Intentar otra vez.", - "No. \u00a1Intentar otra vez!" - ], - "id": "\u00bfQu\u00e9 es Fiat?", - "question": "\u00bfQui\u00e9n crea monedas fiduciarias, como d\u00f3lares estadounidenses o francos suizos?", - "text": "Todas las monedas nacionales que circulan hoy en d\u00eda se denominan dinero \"fiduciario\". Esto incluye d\u00f3lares estadounidenses, yenes japoneses, francos suizos, etc.\n\n\nLa palabra \"fiat\" en lat\u00edn significa \"por decreto\", que significa \"por orden oficial\".\n\n\nEsto significa que todo el dinero fiduciario, incluido el d\u00f3lar estadounidense, se crea simplemente por orden del gobierno nacional.\n", - "title": "Moneda fiduciaria: \u00bfqu\u00e9 es eso?", - "type": "Texto" - }, - { - "answers": [ - "Las autoridades gubernamentales eventualmente abusan de toda moneda fiduciaria.", - "Es posible que los bancos locales no tengan suficiente espacio en b\u00f3veda para guardar todos los billetes de un d\u00f3lar.", - "Puede que no haya suficientes \u00e1rboles para fabricar papel para todos los billetes de un d\u00f3lar adicionales." - ], - "feedback": [ - "Correcto. A lo largo de la historia, los gobiernos no han podido resistirse a la posibilidad de imprimir dinero, ya que en la pr\u00e1ctica no tienen obligaci\u00f3n de devolver ese dinero.", - "No, ciertamente ese no es el caso.", - "Equivocado. Int\u00e9ntalo de nuevo." - ], - "id": "por qu\u00e9Preocuparse por el dinero fiat", - "question": "\u00bfPor qu\u00e9 deber\u00eda preocuparme que el gobierno controle el dinero fiduciario?", - "text": "Como se comparti\u00f3 en un cuestionario anterior, el Banco Central de EE. UU. es la Reserva Federal o la \u201cFed\u201d.\n\n\nLa Reserva Federal puede imprimir m\u00e1s d\u00f3lares en cualquier momento, y no necesita permiso del Presidente, ni del Congreso, y mucho menos de los ciudadanos estadounidenses.\n\n\nTener el control del dinero puede ser muy tentador para que las autoridades abusen de \u00e9l y, a menudo, el tiempo conduce a una inflaci\u00f3n masiva, confiscaciones arbitrarias y corrupci\u00f3n.\n\n\nDe hecho, Alan Greenspan, el famoso ex presidente de la Reserva Federal, dijo que Estados Unidos \u201cpuede pagar cualquier deuda que tenga, porque siempre podemos imprimir m\u00e1s para hacerlo\u201d.\n", - "title": "Conf\u00edo en mi gobierno. \u00bfPor qu\u00e9 deber\u00eda preocuparme por el dinero fiduciario?", - "type": "Texto" - }, - { - "answers": [ - "La impresi\u00f3n de dinero adicional conduce a la inflaci\u00f3n.", - "La gente debe cambiar billetes viejos de d\u00f3lares en el banco todos los a\u00f1os.", - "La apariencia del billete de un d\u00f3lar cambia." - ], - "feedback": [ - "Correcto. Esto significa que los bienes y servicios costar\u00e1n m\u00e1s en el futuro.", - "No. Los billetes de un d\u00f3lar m\u00e1s antiguos son tan v\u00e1lidos como los m\u00e1s nuevos.", - "Incorrecto. Aunque el gobierno puede emitir nuevos tipos de billetes, esto no tiene nada que ver con aumentar la oferta monetaria." - ], - "id": "GobiernoPuedeImprimirDinero", - "question": "\u00bfQu\u00e9 significa cuando el gobierno imprime dinero?", - "text": "Bueno, \u00a1a todos deber\u00eda importarles!\n\n\nLa pr\u00e1ctica de que el gobierno imprima dinero (o aumente la oferta de d\u00f3lares) conduce a la inflaci\u00f3n.\n\n\nLa inflaci\u00f3n es un aumento en el precio de bienes y servicios. En otras palabras, el precio de algo en el futuro ser\u00e1 m\u00e1s caro que hoy.\n\n\nEntonces, \u00bfqu\u00e9 significa la inflaci\u00f3n para los ciudadanos?\n\n\nEn el Reino Unido, la libra esterlina ha perdido el 99,5% de su valor desde su introducci\u00f3n hace m\u00e1s de 300 a\u00f1os.\n\n\nEn Estados Unidos, el d\u00f3lar ha perdido el 97% de su valor desde el final de la Primera Guerra Mundial, hace unos 100 a\u00f1os.\n\n\nEsto significa que un filete que costaba $0,30 en 1920... costaba $3 en 1990... \u00a1y alrededor de $15 hoy, en el a\u00f1o 2020!\n", - "title": "\u00bfA qui\u00e9n deber\u00eda importarle que el gobierno pueda imprimir dinero ilimitado?", - "type": "Texto" - }, - { - "answers": [ - "Cada moneda fiduciaria que alguna vez existi\u00f3 ha perdido una enorme cantidad de valor.", - "El valor sigue siendo el mismo para siempre.", - "La apariencia y el dise\u00f1o de las facturas en papel se actualizan aproximadamente cada 10 a\u00f1os." - ], - "feedback": [ - "Correcto. Esto es v\u00e1lido incluso para el d\u00f3lar, que ha perdido el 97% de su valor durante los \u00faltimos 100 a\u00f1os.", - "Incorrecto. Int\u00e9ntalo de nuevo.", - "No exactamente. Aunque el dise\u00f1o de los billetes en papel puede cambiar, esto no tiene nada que ver con su valor." - ], - "id": "Fiat pierde valor con el tiempo", - "question": "\u00bfQu\u00e9 sucede con el valor de todo el dinero fiduciario con el tiempo?", - "text": "Eso es correcto.\n\n\nEn la historia del mundo, se han creado 775 monedas fiduciarias. La mayor\u00eda ya no existe y la vida media de cualquier dinero fiduciario es de s\u00f3lo 27 a\u00f1os.\n\n\nLa libra esterlina es la moneda fiduciaria m\u00e1s antigua. Ha perdido m\u00e1s del 99% de su valor desde 1694.\n\n\nNo existe ning\u00fan precedente de que el dinero fiduciario mantenga su valor a lo largo del tiempo. Esto es inflaci\u00f3n.\n\u00a1Es efectivamente una forma de robo del dinero que tanto le cost\u00f3 ganar!\n", - "title": "\u00bfSignifica esto que todo el dinero fiduciario pierde valor con el tiempo?", - "type": "Texto" - }, - { - "answers": [ - "El dinero es dif\u00edcil de mover por el mundo y, adem\u00e1s, puede ser vigilado.", - "El dinero ya no es necesario en el siglo XXI.", - "El dinero es la ra\u00edz del mal." - ], - "feedback": [ - "Correcto. Explicaremos m\u00e1s sobre estos temas en m\u00f3dulos de prueba posteriores. \u00a1\u00a1Sigue cavando!!", - "Respuesta incorrecta. Sabes que eso no es cierto.", - "Si bien algunos pueden creer que esto es as\u00ed, no es la respuesta que buscamos aqu\u00ed." - ], - "id": "Otros asuntos", - "question": "\u00bfCu\u00e1les son algunos otros problemas que existen con el dinero fiduciario?", - "text": "S\u00ed, existen muchos otros problemas con el dinero fiduciario moderno.\n\n\nEn primer lugar, puede resultar extremadamente dif\u00edcil mover dinero por todo el mundo. A menudo, los gobiernos restringen abiertamente el movimiento (y en ocasiones incluso confiscan dinero) sin una raz\u00f3n o explicaci\u00f3n v\u00e1lida. E incluso cuando puedes enviar dinero, las altas tarifas de transacci\u00f3n lo hacen muy costoso.\n\n\nEn segundo lugar, incluso en Estados Unidos ha habido una p\u00e9rdida total de privacidad, ya que la mayor parte del comercio se realiza con tarjetas de d\u00e9bito y cr\u00e9dito, as\u00ed como en l\u00ednea con otros sistemas como PayPal y Apple Pay.\n\n\n\u00bfAlguna vez has notado c\u00f3mo aparece un anuncio en tus redes sociales o Gmail momentos despu\u00e9s de buscar un determinado producto o servicio? Esto se conoce como \u201ccapitalismo de vigilancia\u201d y se basa en empresas que venden sus datos financieros personales.\n", - "title": "Bien, el dinero fiduciario pierde valor con el tiempo. \u00bfHay otros problemas?", - "type": "Texto" - } - ], - "meta": { - "id": "\u00bfC\u00f3mo funciona el dinero?", - "title": "\u00bfC\u00f3mo funciona el dinero?" - } -} \ No newline at end of file diff --git a/chapter-103-how-does-money-work/103.01-lesson-what-is-fiat.json b/chapter-103-how-does-money-work/103.01-lesson-what-is-fiat.json index 3478231..9529cfd 100644 --- a/chapter-103-how-does-money-work/103.01-lesson-what-is-fiat.json +++ b/chapter-103-how-does-money-work/103.01-lesson-what-is-fiat.json @@ -1,17 +1,22 @@ { - "answers": [ - "They are created by order of the National government in a given country.", - "By the manager of the local branch bank.", - "The Monopoly Money Man." - ], - "feedback": [ - "Correct. The central bank of a government creates fiat currencies.", - "Not quite. While local banks can give out loans based on credit and create money by doing so, they cannot create fiat currencies. Try again.", - "Nope. Try again!" - ], - "id": "WhatIsFiat", - "question": "Who creates fiat currencies, such as US Dollars or Swiss Francs?", - "text": "All national currencies in circulation today are called “fiat” money. This includes US Dollars, Japanese Yen, Swiss Francs, and so forth.\n\n\nThe word “fiat” is latin for “by decree” -- which means “by official order”.\n\n\nThis means that all fiat money -- including the US Dollar -- is simply created by the order of the national government.\n", - "title": "Fiat Currency: What is that?", - "type": "Text" + "WhatIsFiat": { + "title": "Fiat Currency: What is that?", + "questions": { + "WhatIsFiat": { + "answers": [ + "They are created by order of the National government in a given country.", + "By the manager of the local branch bank.", + "The Monopoly Money Man." + ], + "feedback": [ + "Correct. The central bank of a government creates fiat currencies.", + "Not quite. While local banks can give out loans based on credit and create money by doing so, they cannot create fiat currencies. Try again.", + "Nope. Try again!" + ], + "question": "Who creates fiat currencies, such as US Dollars or Swiss Francs?", + "text": "All national currencies in circulation today are called “fiat” money. This includes US Dollars, Japanese Yen, Swiss Francs, and so forth.\n\n\nThe word “fiat” is latin for “by decree” -- which means “by official order”.\n\n\nThis means that all fiat money -- including the US Dollar -- is simply created by the order of the national government.\n", + "title": "Who creates fiat currencies, such as US Dollars or Swiss Francs?" + } + } + } } diff --git a/chapter-103-how-does-money-work/103.02-lesson-why-care-about-fiat-money.json b/chapter-103-how-does-money-work/103.02-lesson-why-care-about-fiat-money.json index 2b75399..6a35855 100644 --- a/chapter-103-how-does-money-work/103.02-lesson-why-care-about-fiat-money.json +++ b/chapter-103-how-does-money-work/103.02-lesson-why-care-about-fiat-money.json @@ -1,17 +1,22 @@ { - "answers": [ - "All fiat currency is eventually abused by government authorities.", - "Local banks might not have enough vault space to hold all of the dollar bills.", - "There might not be enough trees to make paper for all of the additional dollar bills." - ], - "feedback": [ - "Correct. Throughout history, governments have been unable to resist the ability to print money, as they effectively have no obligation to repay this money.", - "Nope, that is certainly not the case.", - "Wrong. Please try again." - ], - "id": "whyCareAboutFiatMoney", - "question": "Why should I care about the government controlling fiat money?", - "text": "As shared in a prior quiz, the US Central Bank is the Federal Reserve, or the “Fed”.\n\n\nThe Fed can print more dollars at any time -- and does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\nHaving control of money can be very tempting for authorities to abuse -- and often time leads to massive inflation, arbitrary confiscation and corruption.\n\n\nIn fact, Alan Greenspan, the famous former chairman of The Fed, famously said the US “can pay any debt that it has, because we can always print more to do that”.\n", - "title": "I trust my government. Why should I care about fiat money?", - "type": "Text" + "whyCareAboutFiatMoney": { + "title": "I trust my government. Why should I care about fiat money?", + "questions": { + "whyCareAboutFiatMoney": { + "answers": [ + "All fiat currency is eventually abused by government authorities.", + "Local banks might not have enough vault space to hold all of the dollar bills.", + "There might not be enough trees to make paper for all of the additional dollar bills." + ], + "feedback": [ + "Correct. Throughout history, governments have been unable to resist the ability to print money, as they effectively have no obligation to repay this money.", + "Nope, that is certainly not the case.", + "Wrong. Please try again." + ], + "question": "Why should I care about the government controlling fiat money?", + "text": "As shared in a prior quiz, the US Central Bank is the Federal Reserve, or the “Fed”.\n\n\nThe Fed can print more dollars at any time -- and does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\nHaving control of money can be very tempting for authorities to abuse -- and often time leads to massive inflation, arbitrary confiscation and corruption.\n\n\nIn fact, Alan Greenspan, the famous former chairman of The Fed, famously said the US “can pay any debt that it has, because we can always print more to do that”.\n", + "title": "Why should I care about the government controlling fiat money?" + } + } + } } diff --git a/chapter-103-how-does-money-work/103.03-lesson-governement-can-print-money.json b/chapter-103-how-does-money-work/103.03-lesson-governement-can-print-money.json index 64fd978..bcfa519 100644 --- a/chapter-103-how-does-money-work/103.03-lesson-governement-can-print-money.json +++ b/chapter-103-how-does-money-work/103.03-lesson-governement-can-print-money.json @@ -1,17 +1,22 @@ { - "answers": [ - "The printing of additional money leads to inflation.", - "People must exchange old dollar bills at the bank every year.", - "The appearance of the dollar bill changes." - ], - "feedback": [ - "Correct. This means that goods and services will cost more in the future.", - "Nope. Older dollar bills are just as valid as newer ones.", - "Incorrect. Although the government may issue new looks for bills, this has nothing to do with increasing the money supply." - ], - "id": "GovernementCanPrintMoney", - "question": "What does it mean when the government prints money?", - "text": "Well, everybody should care!\n\n\nThe practice of government printing money -- or increasing the supply of dollars -- leads to inflation.\n\n\nInflation is an increase in the price of goods and services. In other words, the price for something in the future will be more expensive than today.\n\n\nSo what does inflation mean for citizens?\n\n\nIn the United Kingdom, the Pound Sterling has lost 99.5% of its value since being introduced over 300 years ago.\n\n\nIn the United States, the dollar has lost 97% of its value since the end of WWI, about 100 years ago.\n\n\nThis means a steak that cost $0.30 in 1920... was $3 in 1990… and about $15 today, in the year 2020!\n", - "title": "Who should care that the government can print unlimited money?", - "type": "Text" + "GovernementCanPrintMoney": { + "title": "Who should care that the government can print unlimited money?", + "questions": { + "GovernementCanPrintMoney": { + "answers": [ + "The printing of additional money leads to inflation.", + "People must exchange old dollar bills at the bank every year.", + "The appearance of the dollar bill changes." + ], + "feedback": [ + "Correct. This means that goods and services will cost more in the future.", + "Nope. Older dollar bills are just as valid as newer ones.", + "Incorrect. Although the government may issue new looks for bills, this has nothing to do with increasing the money supply." + ], + "question": "What does it mean when the government prints money?", + "text": "Well, everybody should care!\n\n\nThe practice of government printing money -- or increasing the supply of dollars -- leads to inflation.\n\n\nInflation is an increase in the price of goods and services. In other words, the price for something in the future will be more expensive than today.\n\n\nSo what does inflation mean for citizens?\n\n\nIn the United Kingdom, the Pound Sterling has lost 99.5% of its value since being introduced over 300 years ago.\n\n\nIn the United States, the dollar has lost 97% of its value since the end of WWI, about 100 years ago.\n\n\nThis means a steak that cost $0.30 in 1920... was $3 in 1990… and about $15 today, in the year 2020!\n", + "title": "What does it mean when the government prints money?" + } + } + } } diff --git a/chapter-103-how-does-money-work/103.04-lesson-fiat-loses-value-over-time.json b/chapter-103-how-does-money-work/103.04-lesson-fiat-loses-value-over-time.json index 10e6489..0fdb9bb 100644 --- a/chapter-103-how-does-money-work/103.04-lesson-fiat-loses-value-over-time.json +++ b/chapter-103-how-does-money-work/103.04-lesson-fiat-loses-value-over-time.json @@ -1,17 +1,22 @@ { - "answers": [ - "Every fiat currency that ever existed has lost a massive amount of value.", - "The value stays the same forever.", - "The look and design of paper bills is updated every 10 years or so." - ], - "feedback": [ - "Correct. This is true even for USD, which has lost 97% of its value during the last 100 years.", - "Incorrect. Please try again.", - "Not quite. Although the design of papers bills may change, this has nothing to do with their value." - ], - "id": "FiatLosesValueOverTime", - "question": "What happens to the value of all fiat money over time?", - "text": "That is correct.\n\n\nIn the history of the world, there have been 775 fiat currencies created. Most no longer exist, and the average life for any fiat money is only 27 years.\n\n\nThe British Pound is the oldest fiat currency. It has lost more than 99% of its value since 1694.\n\n\nThere is no precedent for any fiat money maintaining its value over time. This is inflation.\nIt is effectively a form of theft of your own hard earned money !\n", - "title": "Does this mean that all fiat money loses value over time?", - "type": "Text" + "FiatLosesValueOverTime": { + "title": "Does this mean that all fiat money loses value over time?", + "questions": { + "FiatLosesValueOverTime": { + "answers": [ + "Every fiat currency that ever existed has lost a massive amount of value.", + "The value stays the same forever.", + "The look and design of paper bills is updated every 10 years or so." + ], + "feedback": [ + "Correct. This is true even for USD, which has lost 97% of its value during the last 100 years.", + "Incorrect. Please try again.", + "Not quite. Although the design of papers bills may change, this has nothing to do with their value." + ], + "question": "What happens to the value of all fiat money over time?", + "text": "That is correct.\n\n\nIn the history of the world, there have been 775 fiat currencies created. Most no longer exist, and the average life for any fiat money is only 27 years.\n\n\nThe British Pound is the oldest fiat currency. It has lost more than 99% of its value since 1694.\n\n\nThere is no precedent for any fiat money maintaining its value over time. This is inflation.\nIt is effectively a form of theft of your own hard earned money !\n", + "title": "What happens to the value of all fiat money over time?" + } + } + } } diff --git a/chapter-103-how-does-money-work/103.05-lesson-other-issues.json b/chapter-103-how-does-money-work/103.05-lesson-other-issues.json index 152bdbd..913830b 100644 --- a/chapter-103-how-does-money-work/103.05-lesson-other-issues.json +++ b/chapter-103-how-does-money-work/103.05-lesson-other-issues.json @@ -1,17 +1,22 @@ { - "answers": [ - "Money is difficult to move around the world, and can also be surveilled.", - "Money is no longer needed in the 21st Century.", - "Money is the root of all evil." - ], - "feedback": [ - "Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!", - "Wrong answer. You know that is not true.", - "While some may believe this to be so, it is not the answer we are looking for here." - ], - "id": "OtherIssues", - "question": "What are some other issues that exist with fiat money?", - "text": "Yes, there are many other issues that exist with modern fiat money.\n\n\nFirst, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.\n\n\nSecond, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.\n\n\nEver notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.\n", - "title": "OK, fiat money loses value over time. Are there other issues?", - "type": "Text" + "OtherIssues": { + "title": "OK, fiat money loses value over time. Are there other issues?", + "questions": { + "OtherIssues": { + "answers": [ + "Money is difficult to move around the world, and can also be surveilled.", + "Money is no longer needed in the 21st Century.", + "Money is the root of all evil." + ], + "feedback": [ + "Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!", + "Wrong answer. You know that is not true.", + "While some may believe this to be so, it is not the answer we are looking for here." + ], + "question": "What are some other issues that exist with fiat money?", + "text": "Yes, there are many other issues that exist with modern fiat money.\n\n\nFirst, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.\n\n\nSecond, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.\n\n\nEver notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.\n", + "title": "What are some other issues that exist with fiat money?" + } + } + } } diff --git a/chapter-104-bitcoin-why-is-it-special/104-combined.json b/chapter-104-bitcoin-why-is-it-special/104-combined.json index 50ccfad..314117e 100644 --- a/chapter-104-bitcoin-why-is-it-special/104-combined.json +++ b/chapter-104-bitcoin-why-is-it-special/104-combined.json @@ -1,110 +1,134 @@ -{ - "content": [ - { - "answers": [ - "Yes. There can never be more than 21 million bitcoin created.", - "No. The government can create more bitcoin at any time.", - "No, the bitcoin software can be changed to allow more bitcoins to be created." - ], - "feedback": [ - "Correct. By limiting the amount that can be created, Bitcoin is designed to increase in value over time.", - "Wrong answer. The government has no control over Bitcoin.", - "Incorrect. One of the key attributes of bitcoin is that the supply is limited forever." - ], - "id": "LimitedSupply", - "question": "Is the supply of bitcoin limited forever?", - "text": "Governments can print fiat money in unlimited quantities.\n\n\nBy way of contrast, the supply of Bitcoin is fixed — and can never exceed 21 million coins.\n\n\nA continually increasing supply of fiat money creates inflation. This means that the money you hold today is less valuable in the future.\n\nOne simple example:\nA loaf of bread that cost about 8 cents in 1920. In the year 1990 one loaf cost about $1.00, and today the price is closer to $2.50 !\n\n\nThe limited supply of bitcoin has the opposite effect, one of deflation.\n\n\nThis means that the bitcoin you hold today is designed to be more valuable in the future — because it is scarce.\n", +[ + { + "LimitedSupply": { "title": "Special Characteristic", - "type": "Text" - }, - { - "answers": [ - "No. Bitcoin is completely “decentralized”.", - "Yes. It is centrally controlled by the United Nations.", - "Yes. It is centrally controlled by the world’s largest banks." - ], - "feedback": [ - "That is correct. There is no company, government or institution that controls bitcoin. Anyone can use bitcoin — all need is a smartphone and an internet connection.", - "Wrong answer. Please try again.", - "Incorrect. You already know this is not true!" - ], - "id": "Decentralized", - "question": "Is bitcoin centralized?", - "text": "Fiat money is controlled by banks and governments — which is why people refer to it as a “centralized” currency.\n\nBitcoin is not controlled by any person, government or company — which makes it “decentralized”\n\nNot having banks involved means that nobody can deny you access to bitcoin — because of race, gender, income, credit history, geographical location — or any other factor.\n\nAnybody — anywhere in the world — can access and use Bitcoin anytime you want. All you need is a computer or smartphone, and an internet connection. In fact, even a feature phone with no internet can utilize Bitcoin with services like Machankura!\n", + "questions": { + "LimitedSupply": { + "answers": [ + "Yes. There can never be more than 21 million bitcoin created.", + "No. The government can create more bitcoin at any time.", + "No, the bitcoin software can be changed to allow more bitcoins to be created." + ], + "feedback": [ + "Correct. By limiting the amount that can be created, Bitcoin is designed to increase in value over time.", + "Wrong answer. The government has no control over Bitcoin.", + "Incorrect. One of the key attributes of bitcoin is that the supply is limited forever." + ], + "question": "Is the supply of bitcoin limited forever?", + "text": "Governments can print fiat money in unlimited quantities.\n\n\nBy way of contrast, the supply of Bitcoin is fixed — and can never exceed 21 million coins.\n\n\nA continually increasing supply of fiat money creates inflation. This means that the money you hold today is less valuable in the future.\n\nOne simple example:\nA loaf of bread that cost about 8 cents in 1920. In the year 1990 one loaf cost about $1.00, and today the price is closer to $2.50 !\n\n\nThe limited supply of bitcoin has the opposite effect, one of deflation.\n\n\nThis means that the bitcoin you hold today is designed to be more valuable in the future — because it is scarce.\n", + "title": "Is the supply of bitcoin limited forever?" + } + } + } + }, + { + "Decentralized": { "title": "Special Characteristic", - "type": "Text" - }, - { - "answers": [ - "No. It is impossible to counterfeit Bitcoin.", - "Yes. Although creating fake bitcoin requires very specialized computers.", - "Yes. The govrenment can print as much bitcoin as it likes." - ], - "feedback": [ - "counterfeit Bitcoin.", - "Incorrect. There is no way for anyone to copy or duplicate the value of a bitcoin.", - "Wrong. Although the government can print unlimited dollars, it can not print bitcoin." - ], - "id": "NoCounterfeitMoney", - "question": "Can people counterfeit Bitcoin?", - "text": "Paper money, checks and credit card transactions can all be counterfeit, or faked.\n\nThe unique software that runs the Bitcoin network eliminates the possibility of duplicating money for counterfeit purposes.\n\nNew bitcoin can only be issued if there is agreement amongst the participants in the network. People who are voluntarily running bitcoin software on their own computers and smartphones.\n\nThis ensures that it is impossible to counterfeit, or create fake bitcoins.\n", + "questions": { + "Decentralized": { + "answers": [ + "No. Bitcoin is completely “decentralized”.", + "Yes. It is centrally controlled by the United Nations.", + "Yes. It is centrally controlled by the world’s largest banks." + ], + "feedback": [ + "That is correct. There is no company, government or institution that controls bitcoin. Anyone can use bitcoin — all need is a smartphone and an internet connection.", + "Wrong answer. Please try again.", + "Incorrect. You already know this is not true!" + ], + "question": "Is bitcoin centralized?", + "text": "Fiat money is controlled by banks and governments — which is why people refer to it as a “centralized” currency.\n\nBitcoin is not controlled by any person, government or company — which makes it “decentralized”\n\nNot having banks involved means that nobody can deny you access to bitcoin — because of race, gender, income, credit history, geographical location — or any other factor.\n\nAnybody — anywhere in the world — can access and use Bitcoin anytime you want. All you need is a computer or smartphone, and an internet connection. In fact, even a feature phone with no internet can utilize Bitcoin with services like Machankura!\n", + "title": "Is bitcoin centralized?" + } + } + } + }, + { + "NoCounterfeitMoney": { "title": "Special Characteristic", - "type": "Text" - }, - { - "answers": [ - "0.00000001 BTC", - "One whole bitcoin. It is not possible to use anything less.", - "0.01 BTC" - ], - "feedback": [ - "Yes. You can divide a bitcoin into 100,000,000 pieces. As you already know, the smallest unit of bitcoin — B0.00000001 — is known as a “sat”.", - "Wrong. Bitcoin is highly divisible. You can easily use a very small fraction of a bitcoin.", - "Incorrect. Although the smallest unit of US currency is one penny, a bitcoin is divisible by much more than 100x." - ], - "id": "HighlyDivisible", - "question": "What is the smallest amount of Bitcoin one can own, or use?", - "text": "Old-fashioned fiat money can only be spent in amounts as small as one penny — or two decimal places for one US Dollar ($0.01).\n\nOn the other hand, Bitcoin can be divided 100,000,000 times over. This means that you could spend as little as ₿0.00000001. You will note the \"\"₿\"\" symbol, which is the Bitcoin equivalent of \"\"$\"\". Sometimes you will also see the use of BTC, instead of ₿.\n\nBy way of contrast, Bitcoin can handle very small payments — even those less than one US penny!\n", + "questions": { + "NoCounterfeitMoney": { + "answers": [ + "No. It is impossible to counterfeit Bitcoin.", + "Yes. Although creating fake bitcoin requires very specialized computers.", + "Yes. The govrenment can print as much bitcoin as it likes." + ], + "feedback": [ + "counterfeit Bitcoin.", + "Incorrect. There is no way for anyone to copy or duplicate the value of a bitcoin.", + "Wrong. Although the government can print unlimited dollars, it can not print bitcoin." + ], + "question": "Can people counterfeit Bitcoin?", + "text": "Paper money, checks and credit card transactions can all be counterfeit, or faked.\n\nThe unique software that runs the Bitcoin network eliminates the possibility of duplicating money for counterfeit purposes.\n\nNew bitcoin can only be issued if there is agreement amongst the participants in the network. People who are voluntarily running bitcoin software on their own computers and smartphones.\n\nThis ensures that it is impossible to counterfeit, or create fake bitcoins.\n", + "title": "Can people counterfeit Bitcoin?" + } + } + } + }, + { + "HighlyDivisible": { "title": "Special Characteristic", - "type": "Text" - }, - { - "answers": [ - "Yes. The bitcoin network is very secure.", - "Maybe. It depends on the day of the week.", - "bitcoin network is safe and secure — 24 hours a day, 365 days a year." - ], - "feedback": [ - "Correct. In fact, the Bitcoin network has never once been hacked. Answer the next question to learn more!", - "Nice try, but wrong. The bitcoin network is safe and secure — 24 hours a day, 365 days a year.", - "Incorrect. Although bitcoin is indeed “open source” software — or available to the public for free — is still extremely secure." - ], - "id": "securePartOne", - "question": "Is the Bitcoin network secure?", - "text": "The bitcoin network is worth well over $100 billion today. Accordingly, the network must be very secure — so that money is never stolen.\n\n\nBitcoin is known as the world’s first cryptocurrency.\n\n\nThe “crypto” part of the name comes from cryptography. Simply put, cryptography protects information through very complex math functions.\n\n\nMost people do not realize — but Bitcoin is actually the most secure computer network in the world !\n\n\n(you may have heard about bitcoin “hacks” — which we will debunk in the next quiz)\n", + "questions": { + "HighlyDivisible": { + "answers": [ + "0.00000001 BTC", + "One whole bitcoin. It is not possible to use anything less.", + "0.01 BTC" + ], + "feedback": [ + "Yes. You can divide a bitcoin into 100,000,000 pieces. As you already know, the smallest unit of bitcoin — B0.00000001 — is known as a “sat”.", + "Wrong. Bitcoin is highly divisible. You can easily use a very small fraction of a bitcoin.", + "Incorrect. Although the smallest unit of US currency is one penny, a bitcoin is divisible by much more than 100x." + ], + "question": "What is the smallest amount of Bitcoin one can own, or use?", + "text": "Old-fashioned fiat money can only be spent in amounts as small as one penny — or two decimal places for one US Dollar ($0.01).\n\nOn the other hand, Bitcoin can be divided 100,000,000 times over. This means that you could spend as little as ₿0.00000001. You will note the \"\"₿\"\" symbol, which is the Bitcoin equivalent of \"\"$\"\". Sometimes you will also see the use of BTC, instead of ₿.\n\nBy way of contrast, Bitcoin can handle very small payments — even those less than one US penny!\n", + "title": "What is the smallest amount of Bitcoin one can own, or use?" + } + } + } + }, + { + "securePartOne": { "title": "Special Characteristic", - "type": "Text" - }, - { - "answers": [ - "No. Bitcoin has never been hacked.", - "Yes. Bitcoin gets hacked frequently.", - "Yes. Bitcoin usually gets hacked on holidays, when traditional banks are closed." - ], - "feedback": [ - "That is correct. The bitcoin network has never been compromised. However, it is important to make you use secure digital wallet (such as Galoy!) to keep your personal bitcoins safe at all times.", - "Wrong. Please try again.", - "No silly, you know that is not the correct answer." - ], - "id": "securePartTwo", - "question": "Has Bitcoin ever been hacked?", - "text": "To be direct: the bitcoin network itself has never been hacked. Never once.\n\n\n Then what exactly has been hacked?\n\n\n Certain digital wallets that did not have proper security in place.\n\n\n Just like a physical wallet holds fiat currency (in the form of paper bills), digital wallets hold some amount of bitcoin.\n\n\n In the physical world, criminals rob banks — and walk away with US Dollars. The fact that someone robbed a bank does not have any relationship as to whether the US Dollar is stable or reliable money.\n\n\n Similarly, some computer hackers have stolen bitcoin from insecure digital wallets — the online equivalent of a bank robbery.\n\n\n However, it is important to know that the bitcoin network has never been hacked or compromised !\n", + "questions": { + "securePartOne": { + "answers": [ + "Yes. The bitcoin network is very secure.", + "Maybe. It depends on the day of the week.", + "bitcoin network is safe and secure — 24 hours a day, 365 days a year." + ], + "feedback": [ + "Correct. In fact, the Bitcoin network has never once been hacked. Answer the next question to learn more!", + "Nice try, but wrong. The bitcoin network is safe and secure — 24 hours a day, 365 days a year.", + "Incorrect. Although bitcoin is indeed “open source” software — or available to the public for free — is still extremely secure." + ], + "question": "Is the Bitcoin network secure?", + "text": "The bitcoin network is worth well over $100 billion today. Accordingly, the network must be very secure — so that money is never stolen.\n\n\nBitcoin is known as the world’s first cryptocurrency.\n\n\nThe “crypto” part of the name comes from cryptography. Simply put, cryptography protects information through very complex math functions.\n\n\nMost people do not realize — but Bitcoin is actually the most secure computer network in the world !\n\n\n(you may have heard about bitcoin “hacks” — which we will debunk in the next quiz)\n", + "title": "Is the Bitcoin network secure?" + } + } + } + }, + { + "securePartTwo": { "title": "Special Characteristic", - "type": "Text" + "questions": { + "securePartTwo": { + "answers": [ + "No. Bitcoin has never been hacked.", + "Yes. Bitcoin gets hacked frequently.", + "Yes. Bitcoin usually gets hacked on holidays, when traditional banks are closed." + ], + "feedback": [ + "That is correct. The bitcoin network has never been compromised. However, it is important to make you use secure digital wallet (such as Galoy!) to keep your personal bitcoins safe at all times.", + "Wrong. Please try again.", + "No silly, you know that is not the correct answer." + ], + "question": "Has Bitcoin ever been hacked?", + "text": "To be direct: the bitcoin network itself has never been hacked. Never once.\n\n\n Then what exactly has been hacked?\n\n\n Certain digital wallets that did not have proper security in place.\n\n\n Just like a physical wallet holds fiat currency (in the form of paper bills), digital wallets hold some amount of bitcoin.\n\n\n In the physical world, criminals rob banks — and walk away with US Dollars. The fact that someone robbed a bank does not have any relationship as to whether the US Dollar is stable or reliable money.\n\n\n Similarly, some computer hackers have stolen bitcoin from insecure digital wallets — the online equivalent of a bank robbery.\n\n\n However, it is important to know that the bitcoin network has never been hacked or compromised !\n", + "title": "Has Bitcoin ever been hacked?" + } + } } - ], - "meta": { - "id": "Bitcoin:Whyisitspecial?", - "title": "Bitcoin: Why is it special?" } -} +] diff --git a/chapter-104-bitcoin-why-is-it-special/104-es-combined.json b/chapter-104-bitcoin-why-is-it-special/104-es-combined.json deleted file mode 100644 index c578150..0000000 --- a/chapter-104-bitcoin-why-is-it-special/104-es-combined.json +++ /dev/null @@ -1,110 +0,0 @@ -{ - "content": [ - { - "answers": [ - "S\u00ed. Nunca se pueden crear m\u00e1s de 21 millones de bitcoins.", - "No. El gobierno puede crear m\u00e1s bitcoins en cualquier momento.", - "No, el software bitcoin se puede cambiar para permitir la creaci\u00f3n de m\u00e1s bitcoins." - ], - "feedback": [ - "Correcto. Al limitar la cantidad que se puede crear, Bitcoin est\u00e1 dise\u00f1ado para aumentar su valor con el tiempo.", - "Respuesta incorrecta. El gobierno no tiene control sobre Bitcoin.", - "Incorrecto. Uno de los atributos clave de bitcoin es que la oferta es limitada para siempre." - ], - "id": "Recursos limitados", - "question": "\u00bfEl suministro de bitcoins est\u00e1 limitado para siempre?", - "text": "Los gobiernos pueden imprimir dinero fiduciario en cantidades ilimitadas.\n\n\nPor el contrario, la oferta de Bitcoin es fija y nunca puede exceder los 21 millones de monedas.\n\n\nUna oferta cada vez mayor de dinero fiduciario genera inflaci\u00f3n. Esto significa que el dinero que tienes hoy tendr\u00e1 menos valor en el futuro.\n\nUn ejemplo sencillo:\nUna barra de pan que costaba alrededor de 8 centavos en 1920. En el a\u00f1o 1990, una barra costaba alrededor de $1,00, \u00a1y hoy el precio se acerca m\u00e1s a $2,50!\n\n\nLa oferta limitada de bitcoin tiene el efecto contrario: deflaci\u00f3n.\n\n\nEsto significa que el bitcoin que tienes hoy est\u00e1 dise\u00f1ado para ser m\u00e1s valioso en el futuro, porque es escaso.\n", - "title": "Caracter\u00edstica especial", - "type": "Texto" - }, - { - "answers": [ - "No. Bitcoin est\u00e1 completamente \"descentralizado\".", - "S\u00ed. Est\u00e1 controlado centralmente por las Naciones Unidas.", - "S\u00ed. Est\u00e1 controlado centralmente por los bancos m\u00e1s grandes del mundo." - ], - "feedback": [ - "Eso es correcto. No existe ninguna empresa, gobierno o instituci\u00f3n que controle bitcoin. Cualquiera puede usar bitcoin: todo lo que necesita es un tel\u00e9fono inteligente y una conexi\u00f3n a Internet.", - "Respuesta incorrecta. Int\u00e9ntalo de nuevo.", - "Incorrecto. \u00a1Ya sabes que esto no es cierto!" - ], - "id": "Descentralizado", - "question": "\u00bfBitcoin est\u00e1 centralizado?", - "text": "El dinero fiduciario est\u00e1 controlado por bancos y gobiernos, raz\u00f3n por la cual la gente se refiere a \u00e9l como moneda \u201ccentralizada\u201d.\n\nBitcoin no est\u00e1 controlado por ninguna persona, gobierno o empresa, lo que lo hace \"descentralizado\"\n\nNo tener bancos involucrados significa que nadie puede negarle el acceso a bitcoin (por motivos de raza, g\u00e9nero, ingresos, historial crediticio, ubicaci\u00f3n geogr\u00e1fica) o cualquier otro factor.\n\nCualquier persona, en cualquier parte del mundo, puede acceder y utilizar Bitcoin en cualquier momento que desee. Todo lo que necesitas es una computadora o tel\u00e9fono inteligente y una conexi\u00f3n a Internet. De hecho, \u00a1incluso un tel\u00e9fono b\u00e1sico sin Internet puede utilizar Bitcoin con servicios como Machankura!\n", - "title": "Caracter\u00edstica especial", - "type": "Texto" - }, - { - "answers": [ - "No. Es imposible falsificar Bitcoin.", - "S\u00ed. Aunque crear bitcoins falsos requiere computadoras muy especializadas.", - "S\u00ed. El gobierno puede imprimir tantos bitcoins como quiera." - ], - "feedback": [ - "Bitcoin falso.", - "Incorrecto. Nadie puede copiar o duplicar el valor de un bitcoin.", - "Equivocado. Aunque el gobierno puede imprimir d\u00f3lares ilimitados, no puede imprimir bitcoins." - ], - "id": "NoDineroFalsificado", - "question": "\u00bfPuede la gente falsificar Bitcoin?", - "text": "Los billetes, los cheques y las transacciones con tarjetas de cr\u00e9dito pueden ser falsificados o falsificados.\n\nEl software \u00fanico que ejecuta la red Bitcoin elimina la posibilidad de duplicar dinero con fines falsificados.\n\nS\u00f3lo se pueden emitir nuevos bitcoins si existe un acuerdo entre los participantes de la red. Personas que ejecutan voluntariamente software bitcoin en sus propias computadoras y tel\u00e9fonos inteligentes.\n\nEsto garantiza que sea imposible falsificar o crear bitcoins falsos.\n", - "title": "Caracter\u00edstica especial", - "type": "Texto" - }, - { - "answers": [ - "0.00000001 BTC", - "Un bitcoin completo. No es posible utilizar nada menos.", - "0.01 BTC" - ], - "feedback": [ - "S\u00ed. Puedes dividir un bitcoin en 100.000.000 de partes. Como ya sabes, la unidad m\u00e1s peque\u00f1a de bitcoin, B0.00000001, se conoce como \"sat\".", - "Equivocado. Bitcoin es altamente divisible. Puedes utilizar f\u00e1cilmente una fracci\u00f3n muy peque\u00f1a de un bitcoin.", - "Incorrecto. Aunque la unidad m\u00e1s peque\u00f1a de la moneda estadounidense es un centavo, un bitcoin es divisible por mucho m\u00e1s de 100x." - ], - "id": "Altamente divisible", - "question": "\u00bfCu\u00e1l es la cantidad m\u00e1s peque\u00f1a de Bitcoin que uno puede poseer o utilizar?", - "text": "El dinero fiduciario antiguo s\u00f3lo se puede gastar en cantidades tan peque\u00f1as como un centavo, o dos decimales por un d\u00f3lar estadounidense (0,01 d\u00f3lares).\n\nPor otro lado, Bitcoin se puede dividir 100.000.000 de veces. Esto significa que podr\u00edas gastar tan solo 0,00000001 \u20bf. Notar\u00e1s el s\u00edmbolo \"\"\u20bf\"\", que es el equivalente en Bitcoin de \"\"$\"\". A veces tambi\u00e9n ver\u00e1s el uso de BTC, en lugar de \u20bf.\n\nPor el contrario, Bitcoin puede manejar pagos muy peque\u00f1os, \u00a1incluso aquellos de menos de un centavo estadounidense!\n", - "title": "Caracter\u00edstica especial", - "type": "Texto" - }, - { - "answers": [ - "S\u00ed. La red bitcoin es muy segura.", - "Tal vez. Depende del d\u00eda de la semana.", - "La red bitcoin es segura y protegida, las 24 horas del d\u00eda, los 365 d\u00edas del a\u00f1o." - ], - "feedback": [ - "Correcto. De hecho, la red Bitcoin nunca ha sido pirateada. \u00a1Responda la siguiente pregunta para obtener m\u00e1s informaci\u00f3n!", - "Buen intento, pero equivocado. La red bitcoin es segura: las 24 horas del d\u00eda, los 365 d\u00edas del a\u00f1o.", - "Incorrecto. Aunque Bitcoin es en realidad un software de \u201cc\u00f3digo abierto\u201d (o est\u00e1 disponible para el p\u00fablico de forma gratuita), sigue siendo extremadamente seguro." - ], - "id": "Parte uno segura", - "question": "\u00bfEs segura la red Bitcoin?", - "text": "La red bitcoin vale hoy m\u00e1s de 100 mil millones de d\u00f3lares. En consecuencia, la red debe ser muy segura, para que nunca se robe dinero.\n\n\nBitcoin es conocida como la primera criptomoneda del mundo.\n\n\nLa parte \"cripto\" del nombre proviene de la criptograf\u00eda. En pocas palabras, la criptograf\u00eda protege la informaci\u00f3n mediante funciones matem\u00e1ticas muy complejas.\n\n\nLa mayor\u00eda de la gente no se da cuenta, \u00a1pero Bitcoin es en realidad la red inform\u00e1tica m\u00e1s segura del mundo!\n\n\n(Es posible que haya o\u00eddo hablar de los \u201ctrucos\u201d de Bitcoin, que desacreditaremos en el pr\u00f3ximo cuestionario)\n", - "title": "Caracter\u00edstica especial", - "type": "Texto" - }, - { - "answers": [ - "No. Bitcoin nunca ha sido pirateado.", - "S\u00ed. Bitcoin es pirateado con frecuencia.", - "S\u00ed. Bitcoin suele ser pirateado durante los d\u00edas festivos, cuando los bancos tradicionales est\u00e1n cerrados." - ], - "feedback": [ - "Eso es correcto. La red bitcoin nunca se ha visto comprometida. Sin embargo, es importante que utilice una billetera digital segura (como Galoy) para mantener sus bitcoins personales seguros en todo momento.", - "Equivocado. Int\u00e9ntalo de nuevo.", - "No tonto, sabes que esa no es la respuesta correcta." - ], - "id": "seguraParteDos", - "question": "\u00bfBitcoin ha sido pirateado alguna vez?", - "text": "Para ser directo: la red bitcoin en s\u00ed nunca ha sido pirateada. Ni una sola vez.\n\n\n Entonces, \u00bfqu\u00e9 es exactamente lo que se ha pirateado?\n\n\n Ciertas billeteras digitales que no contaban con la seguridad adecuada.\n\n\n Al igual que una billetera f\u00edsica contiene moneda fiduciaria (en forma de billetes de papel), las billeteras digitales contienen una cierta cantidad de bitcoins.\n\n\n En el mundo f\u00edsico, los delincuentes roban bancos y se llevan d\u00f3lares estadounidenses. El hecho de que alguien haya robado un banco no tiene ninguna relaci\u00f3n con si el d\u00f3lar estadounidense es dinero estable o confiable.\n\n\n De manera similar, algunos piratas inform\u00e1ticos han robado bitcoins de billeteras digitales inseguras, el equivalente en l\u00ednea de un robo a un banco.\n\n\n Sin embargo, es importante saber que la red bitcoin nunca ha sido pirateada ni comprometida.\n", - "title": "Caracter\u00edstica especial", - "type": "Texto" - } - ], - "meta": { - "id": "Bitcoin: \u00bfPor qu\u00e9 es especial?", - "title": "Bitcoin: \u00bfPor qu\u00e9 es especial?" - } -} \ No newline at end of file diff --git a/chapter-104-bitcoin-why-is-it-special/104.01-lesson-limited-supply.json b/chapter-104-bitcoin-why-is-it-special/104.01-lesson-limited-supply.json index 67057a2..61d165c 100644 --- a/chapter-104-bitcoin-why-is-it-special/104.01-lesson-limited-supply.json +++ b/chapter-104-bitcoin-why-is-it-special/104.01-lesson-limited-supply.json @@ -1,17 +1,22 @@ { - "answers": [ - "Yes. There can never be more than 21 million bitcoin created.", - "No. The government can create more bitcoin at any time.", - "No, the bitcoin software can be changed to allow more bitcoins to be created." - ], - "feedback": [ - "Correct. By limiting the amount that can be created, Bitcoin is designed to increase in value over time.", - "Wrong answer. The government has no control over Bitcoin.", - "Incorrect. One of the key attributes of bitcoin is that the supply is limited forever." - ], - "id": "LimitedSupply", - "question": "Is the supply of bitcoin limited forever?", - "text": "Governments can print fiat money in unlimited quantities.\n\n\nBy way of contrast, the supply of Bitcoin is fixed — and can never exceed 21 million coins.\n\n\nA continually increasing supply of fiat money creates inflation. This means that the money you hold today is less valuable in the future.\n\nOne simple example:\nA loaf of bread that cost about 8 cents in 1920. In the year 1990 one loaf cost about $1.00, and today the price is closer to $2.50 !\n\n\nThe limited supply of bitcoin has the opposite effect, one of deflation.\n\n\nThis means that the bitcoin you hold today is designed to be more valuable in the future — because it is scarce.\n", - "title": "Special Characteristic", - "type": "Text" + "LimitedSupply": { + "title": "Special Characteristic", + "questions": { + "LimitedSupply": { + "answers": [ + "Yes. There can never be more than 21 million bitcoin created.", + "No. The government can create more bitcoin at any time.", + "No, the bitcoin software can be changed to allow more bitcoins to be created." + ], + "feedback": [ + "Correct. By limiting the amount that can be created, Bitcoin is designed to increase in value over time.", + "Wrong answer. The government has no control over Bitcoin.", + "Incorrect. One of the key attributes of bitcoin is that the supply is limited forever." + ], + "question": "Is the supply of bitcoin limited forever?", + "text": "Governments can print fiat money in unlimited quantities.\n\n\nBy way of contrast, the supply of Bitcoin is fixed — and can never exceed 21 million coins.\n\n\nA continually increasing supply of fiat money creates inflation. This means that the money you hold today is less valuable in the future.\n\nOne simple example:\nA loaf of bread that cost about 8 cents in 1920. In the year 1990 one loaf cost about $1.00, and today the price is closer to $2.50 !\n\n\nThe limited supply of bitcoin has the opposite effect, one of deflation.\n\n\nThis means that the bitcoin you hold today is designed to be more valuable in the future — because it is scarce.\n", + "title": "Is the supply of bitcoin limited forever?" + } + } + } } diff --git a/chapter-104-bitcoin-why-is-it-special/104.02-lesson-decentralized.json b/chapter-104-bitcoin-why-is-it-special/104.02-lesson-decentralized.json index 0c894b1..45842cc 100644 --- a/chapter-104-bitcoin-why-is-it-special/104.02-lesson-decentralized.json +++ b/chapter-104-bitcoin-why-is-it-special/104.02-lesson-decentralized.json @@ -1,17 +1,22 @@ { - "answers": [ - "No. Bitcoin is completely “decentralized”.", - "Yes. It is centrally controlled by the United Nations.", - "Yes. It is centrally controlled by the world’s largest banks." - ], - "feedback": [ - "That is correct. There is no company, government or institution that controls bitcoin. Anyone can use bitcoin — all need is a smartphone and an internet connection.", - "Wrong answer. Please try again.", - "Incorrect. You already know this is not true!" - ], - "id": "Decentralized", - "question": "Is bitcoin centralized?", - "text": "Fiat money is controlled by banks and governments — which is why people refer to it as a “centralized” currency.\n\nBitcoin is not controlled by any person, government or company — which makes it “decentralized”\n\nNot having banks involved means that nobody can deny you access to bitcoin — because of race, gender, income, credit history, geographical location — or any other factor.\n\nAnybody — anywhere in the world — can access and use Bitcoin anytime you want. All you need is a computer or smartphone, and an internet connection. In fact, even a feature phone with no internet can utilize Bitcoin with services like Machankura!\n", - "title": "Special Characteristic", - "type": "Text" + "Decentralized": { + "title": "Special Characteristic", + "questions": { + "Decentralized": { + "answers": [ + "No. Bitcoin is completely “decentralized”.", + "Yes. It is centrally controlled by the United Nations.", + "Yes. It is centrally controlled by the world’s largest banks." + ], + "feedback": [ + "That is correct. There is no company, government or institution that controls bitcoin. Anyone can use bitcoin — all need is a smartphone and an internet connection.", + "Wrong answer. Please try again.", + "Incorrect. You already know this is not true!" + ], + "question": "Is bitcoin centralized?", + "text": "Fiat money is controlled by banks and governments — which is why people refer to it as a “centralized” currency.\n\nBitcoin is not controlled by any person, government or company — which makes it “decentralized”\n\nNot having banks involved means that nobody can deny you access to bitcoin — because of race, gender, income, credit history, geographical location — or any other factor.\n\nAnybody — anywhere in the world — can access and use Bitcoin anytime you want. All you need is a computer or smartphone, and an internet connection. In fact, even a feature phone with no internet can utilize Bitcoin with services like Machankura!\n", + "title": "Is bitcoin centralized?" + } + } + } } diff --git a/chapter-104-bitcoin-why-is-it-special/104.03-lesson-no-counterfeit-money.json b/chapter-104-bitcoin-why-is-it-special/104.03-lesson-no-counterfeit-money.json index 2f938c1..c30e984 100644 --- a/chapter-104-bitcoin-why-is-it-special/104.03-lesson-no-counterfeit-money.json +++ b/chapter-104-bitcoin-why-is-it-special/104.03-lesson-no-counterfeit-money.json @@ -1,17 +1,22 @@ { - "answers": [ - "No. It is impossible to counterfeit Bitcoin.", - "Yes. Although creating fake bitcoin requires very specialized computers.", - "Yes. The govrenment can print as much bitcoin as it likes." - ], - "feedback": [ - "counterfeit Bitcoin.", - "Incorrect. There is no way for anyone to copy or duplicate the value of a bitcoin.", - "Wrong. Although the government can print unlimited dollars, it can not print bitcoin." - ], - "id": "NoCounterfeitMoney", - "question": "Can people counterfeit Bitcoin?", - "text": "Paper money, checks and credit card transactions can all be counterfeit, or faked.\n\nThe unique software that runs the Bitcoin network eliminates the possibility of duplicating money for counterfeit purposes.\n\nNew bitcoin can only be issued if there is agreement amongst the participants in the network. People who are voluntarily running bitcoin software on their own computers and smartphones.\n\nThis ensures that it is impossible to counterfeit, or create fake bitcoins.\n", - "title": "Special Characteristic", - "type": "Text" + "NoCounterfeitMoney": { + "title": "Special Characteristic", + "questions": { + "NoCounterfeitMoney": { + "answers": [ + "No. It is impossible to counterfeit Bitcoin.", + "Yes. Although creating fake bitcoin requires very specialized computers.", + "Yes. The govrenment can print as much bitcoin as it likes." + ], + "feedback": [ + "counterfeit Bitcoin.", + "Incorrect. There is no way for anyone to copy or duplicate the value of a bitcoin.", + "Wrong. Although the government can print unlimited dollars, it can not print bitcoin." + ], + "question": "Can people counterfeit Bitcoin?", + "text": "Paper money, checks and credit card transactions can all be counterfeit, or faked.\n\nThe unique software that runs the Bitcoin network eliminates the possibility of duplicating money for counterfeit purposes.\n\nNew bitcoin can only be issued if there is agreement amongst the participants in the network. People who are voluntarily running bitcoin software on their own computers and smartphones.\n\nThis ensures that it is impossible to counterfeit, or create fake bitcoins.\n", + "title": "Can people counterfeit Bitcoin?" + } + } + } } diff --git a/chapter-104-bitcoin-why-is-it-special/104.04-lesson-highly-divisible.json b/chapter-104-bitcoin-why-is-it-special/104.04-lesson-highly-divisible.json index e368045..920cd23 100644 --- a/chapter-104-bitcoin-why-is-it-special/104.04-lesson-highly-divisible.json +++ b/chapter-104-bitcoin-why-is-it-special/104.04-lesson-highly-divisible.json @@ -1,17 +1,22 @@ { - "answers": [ - "0.00000001 BTC", - "One whole bitcoin. It is not possible to use anything less.", - "0.01 BTC" - ], - "feedback": [ - "Yes. You can divide a bitcoin into 100,000,000 pieces. As you already know, the smallest unit of bitcoin — B0.00000001 — is known as a “sat”.", - "Wrong. Bitcoin is highly divisible. You can easily use a very small fraction of a bitcoin.", - "Incorrect. Although the smallest unit of US currency is one penny, a bitcoin is divisible by much more than 100x." - ], - "id": "HighlyDivisible", - "question": "What is the smallest amount of Bitcoin one can own, or use?", - "text": "Old-fashioned fiat money can only be spent in amounts as small as one penny — or two decimal places for one US Dollar ($0.01).\n\nOn the other hand, Bitcoin can be divided 100,000,000 times over. This means that you could spend as little as ₿0.00000001. You will note the \"\"₿\"\" symbol, which is the Bitcoin equivalent of \"\"$\"\". Sometimes you will also see the use of BTC, instead of ₿.\n\nBy way of contrast, Bitcoin can handle very small payments — even those less than one US penny!\n", - "title": "Special Characteristic", - "type": "Text" + "HighlyDivisible": { + "title": "Special Characteristic", + "questions": { + "HighlyDivisible": { + "answers": [ + "0.00000001 BTC", + "One whole bitcoin. It is not possible to use anything less.", + "0.01 BTC" + ], + "feedback": [ + "Yes. You can divide a bitcoin into 100,000,000 pieces. As you already know, the smallest unit of bitcoin — B0.00000001 — is known as a “sat”.", + "Wrong. Bitcoin is highly divisible. You can easily use a very small fraction of a bitcoin.", + "Incorrect. Although the smallest unit of US currency is one penny, a bitcoin is divisible by much more than 100x." + ], + "question": "What is the smallest amount of Bitcoin one can own, or use?", + "text": "Old-fashioned fiat money can only be spent in amounts as small as one penny — or two decimal places for one US Dollar ($0.01).\n\nOn the other hand, Bitcoin can be divided 100,000,000 times over. This means that you could spend as little as ₿0.00000001. You will note the \"\"₿\"\" symbol, which is the Bitcoin equivalent of \"\"$\"\". Sometimes you will also see the use of BTC, instead of ₿.\n\nBy way of contrast, Bitcoin can handle very small payments — even those less than one US penny!\n", + "title": "What is the smallest amount of Bitcoin one can own, or use?" + } + } + } } diff --git a/chapter-104-bitcoin-why-is-it-special/104.05-lesson-secure-part-one.json b/chapter-104-bitcoin-why-is-it-special/104.05-lesson-secure-part-one.json index 8199236..a8b0920 100644 --- a/chapter-104-bitcoin-why-is-it-special/104.05-lesson-secure-part-one.json +++ b/chapter-104-bitcoin-why-is-it-special/104.05-lesson-secure-part-one.json @@ -1,17 +1,22 @@ { - "answers": [ - "Yes. The bitcoin network is very secure.", - "Maybe. It depends on the day of the week.", - "bitcoin network is safe and secure — 24 hours a day, 365 days a year." - ], - "feedback": [ - "Correct. In fact, the Bitcoin network has never once been hacked. Answer the next question to learn more!", - "Nice try, but wrong. The bitcoin network is safe and secure — 24 hours a day, 365 days a year.", - "Incorrect. Although bitcoin is indeed “open source” software — or available to the public for free — is still extremely secure." - ], - "id": "securePartOne", - "question": "Is the Bitcoin network secure?", - "text": "The bitcoin network is worth well over $100 billion today. Accordingly, the network must be very secure — so that money is never stolen.\n\n\nBitcoin is known as the world’s first cryptocurrency.\n\n\nThe “crypto” part of the name comes from cryptography. Simply put, cryptography protects information through very complex math functions.\n\n\nMost people do not realize — but Bitcoin is actually the most secure computer network in the world !\n\n\n(you may have heard about bitcoin “hacks” — which we will debunk in the next quiz)\n", - "title": "Special Characteristic", - "type": "Text" + "securePartOne": { + "title": "Special Characteristic", + "questions": { + "securePartOne": { + "answers": [ + "Yes. The bitcoin network is very secure.", + "Maybe. It depends on the day of the week.", + "bitcoin network is safe and secure — 24 hours a day, 365 days a year." + ], + "feedback": [ + "Correct. In fact, the Bitcoin network has never once been hacked. Answer the next question to learn more!", + "Nice try, but wrong. The bitcoin network is safe and secure — 24 hours a day, 365 days a year.", + "Incorrect. Although bitcoin is indeed “open source” software — or available to the public for free — is still extremely secure." + ], + "question": "Is the Bitcoin network secure?", + "text": "The bitcoin network is worth well over $100 billion today. Accordingly, the network must be very secure — so that money is never stolen.\n\n\nBitcoin is known as the world’s first cryptocurrency.\n\n\nThe “crypto” part of the name comes from cryptography. Simply put, cryptography protects information through very complex math functions.\n\n\nMost people do not realize — but Bitcoin is actually the most secure computer network in the world !\n\n\n(you may have heard about bitcoin “hacks” — which we will debunk in the next quiz)\n", + "title": "Is the Bitcoin network secure?" + } + } + } } diff --git a/chapter-104-bitcoin-why-is-it-special/104.06-lesson-secure-part-two.json b/chapter-104-bitcoin-why-is-it-special/104.06-lesson-secure-part-two.json index ffc9b16..0173416 100644 --- a/chapter-104-bitcoin-why-is-it-special/104.06-lesson-secure-part-two.json +++ b/chapter-104-bitcoin-why-is-it-special/104.06-lesson-secure-part-two.json @@ -1,17 +1,22 @@ { - "answers": [ - "No. Bitcoin has never been hacked.", - "Yes. Bitcoin gets hacked frequently.", - "Yes. Bitcoin usually gets hacked on holidays, when traditional banks are closed." - ], - "feedback": [ - "That is correct. The bitcoin network has never been compromised. However, it is important to make you use secure digital wallet (such as Galoy!) to keep your personal bitcoins safe at all times.", - "Wrong. Please try again.", - "No silly, you know that is not the correct answer." - ], - "id": "securePartTwo", - "question": "Has Bitcoin ever been hacked?", - "text": "To be direct: the bitcoin network itself has never been hacked. Never once.\n\n\n Then what exactly has been hacked?\n\n\n Certain digital wallets that did not have proper security in place.\n\n\n Just like a physical wallet holds fiat currency (in the form of paper bills), digital wallets hold some amount of bitcoin.\n\n\n In the physical world, criminals rob banks — and walk away with US Dollars. The fact that someone robbed a bank does not have any relationship as to whether the US Dollar is stable or reliable money.\n\n\n Similarly, some computer hackers have stolen bitcoin from insecure digital wallets — the online equivalent of a bank robbery.\n\n\n However, it is important to know that the bitcoin network has never been hacked or compromised !\n", - "title": "Special Characteristic", - "type": "Text" + "securePartTwo": { + "title": "Special Characteristic", + "questions": { + "securePartTwo": { + "answers": [ + "No. Bitcoin has never been hacked.", + "Yes. Bitcoin gets hacked frequently.", + "Yes. Bitcoin usually gets hacked on holidays, when traditional banks are closed." + ], + "feedback": [ + "That is correct. The bitcoin network has never been compromised. However, it is important to make you use secure digital wallet (such as Galoy!) to keep your personal bitcoins safe at all times.", + "Wrong. Please try again.", + "No silly, you know that is not the correct answer." + ], + "question": "Has Bitcoin ever been hacked?", + "text": "To be direct: the bitcoin network itself has never been hacked. Never once.\n\n\n Then what exactly has been hacked?\n\n\n Certain digital wallets that did not have proper security in place.\n\n\n Just like a physical wallet holds fiat currency (in the form of paper bills), digital wallets hold some amount of bitcoin.\n\n\n In the physical world, criminals rob banks — and walk away with US Dollars. The fact that someone robbed a bank does not have any relationship as to whether the US Dollar is stable or reliable money.\n\n\n Similarly, some computer hackers have stolen bitcoin from insecure digital wallets — the online equivalent of a bank robbery.\n\n\n However, it is important to know that the bitcoin network has never been hacked or compromised !\n", + "title": "Has Bitcoin ever been hacked?" + } + } + } } diff --git a/chapter-201-the-origins-of-money/201-combined.json b/chapter-201-the-origins-of-money/201-combined.json index 103984c..a1f3237 100644 --- a/chapter-201-the-origins-of-money/201-combined.json +++ b/chapter-201-the-origins-of-money/201-combined.json @@ -1,93 +1,112 @@ -{ - "content": [ - { - "answers": [ - "To store and transfer wealth", - "To serve as a form of entertainment", - "To act as a status symbol" - ], - "feedback": [ - "Congratulations! You hit the nail on the head. Collectibles have long been used as a medium for storing and transferring wealth, much like how Bitcoin is used today as a decentralized digital currency", - "Sorry, but collectibles aren't just for show - they have a deeper purpose", - "While collectibles may serve as a status symbol for some, there's more to it than just showing off." - ], - "id": "originsOfMoney", - "question": "What is the primary and ultimate evolutionary function of collectibles", - "text": "The earliest human societies engaged in trade through barter, but this method had several limitations. One issue was the \"double coincidence of wants\" problem, where two people needed to desire the same item at the same time in order to complete a trade.\n\nTo overcome this issue, humans began to collect and value certain items for their rarity and symbolic significance, such as shells, animal teeth, and flint.\n\nThese collectibles served as a way for early humans to store and transfer wealth, providing an evolutionary advantage over other species such as Homo neanderthalensis.\n", +[ + { + "originsOfMoney": { "title": "The origins of money", - "type": "Text" - }, - { - "answers": [ - "To store value", - "To serve as a form of entertainment", - "To act as a medium of exchange" - ], - "feedback": [ - "Congratulations! You're right on the money (pun intended). Collectibles served as a store of value in paleolithic societies, much like how Bitcoin and other cryptocurrencies are used today as a digital store of value", - "Sorry, collectibles might be fun to collect, but they had a more practical purpose in ancient societies", - "Collectibles were not used as frequently as modern currency, so they didn't quite play the same role as a medium of exchange." - ], - "id": "primitiveMoney", - "question": "What was the primary role of collectibles in paleolithic societies", - "text": "Collectibles served as a precursor to money by allowing trade between different groups and facilitating the transfer of wealth between generations. Although they were not used as frequently as modern money in paleolithic societies, collectibles still served as a store of value and could sometimes even facilitate trade.\n\nPrimitive forms of money, such as collectibles, had a low velocity compared to modern currency and might only be transferred a few times during an individual's lifetime. However, durable collectibles that were passed down through generations had substantial value at each transfer and sometimes made trade possible.\n", + "questions": { + "originsOfMoney": { + "answers": [ + "To store and transfer wealth", + "To serve as a form of entertainment", + "To act as a status symbol" + ], + "feedback": [ + "Congratulations! You hit the nail on the head. Collectibles have long been used as a medium for storing and transferring wealth, much like how Bitcoin is used today as a decentralized digital currency", + "Sorry, but collectibles aren't just for show - they have a deeper purpose", + "While collectibles may serve as a status symbol for some, there's more to it than just showing off." + ], + "question": "What is the primary and ultimate evolutionary function of collectibles", + "text": "The earliest human societies engaged in trade through barter, but this method had several limitations. One issue was the \"double coincidence of wants\" problem, where two people needed to desire the same item at the same time in order to complete a trade.\n\nTo overcome this issue, humans began to collect and value certain items for their rarity and symbolic significance, such as shells, animal teeth, and flint.\n\nThese collectibles served as a way for early humans to store and transfer wealth, providing an evolutionary advantage over other species such as Homo neanderthalensis.\n", + "title": "What is the primary and ultimate evolutionary function of collectibles" + } + } + } + }, + { + "primitiveMoney": { "title": "Primitive forms of money", - "type": "Text" - }, - { - "answers": [ - "The ability to buy collectibles at a lower price before they became widely sought after", - "The ability to trade collectibles for other useful items", - "The ability to impress others with their collection of rare and valuable items" - ], - "feedback": [ - "Congratulations, you are correct! It seems that the concept of \"buy low, sell high\" is not a modern invention, as early humans also sought to acquire collectibles at a lower cost before their demand and trade value increased. Fun fact: this principle also applies to bitcoin, where early adopters were able to acquire bitcoins at a much lower price before their value skyrocketed", - "Sorry, that is not the correct answer. While being able to trade collectibles for other useful items may have been a benefit of correctly anticipating demand, it was not the main advantage", - "I'm afraid that is not the correct answer. While having a collection of rare and valuable items may have been a source of pride and admiration, it was not the main advantage" - ], - "id": "anticipatingDemand", - "question": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies", - "text": "The choice of which items to collect or create posed a significant problem for early humans, as they had to anticipate which objects would be desired by others. The ability to correctly predict which items would be in demand for their collectible value gave a significant advantage to the owner in terms of their ability to trade and accumulate wealth.\n\nSome Native American tribes, such as the Narragansetts, even focused on producing collectibles that had little practical use, but were valuable in trade.\n\nThe earlier a collectible is anticipated to be in future demand, the greater the advantage its possessor has, as it can be obtained at a lower cost before it becomes widely sought after and its trade value increases as the number of people demanding it grows.\n", + "questions": { + "primitiveMoney": { + "answers": [ + "To store value", + "To serve as a form of entertainment", + "To act as a medium of exchange" + ], + "feedback": [ + "Congratulations! You're right on the money (pun intended). Collectibles served as a store of value in paleolithic societies, much like how Bitcoin and other cryptocurrencies are used today as a digital store of value", + "Sorry, collectibles might be fun to collect, but they had a more practical purpose in ancient societies", + "Collectibles were not used as frequently as modern currency, so they didn't quite play the same role as a medium of exchange." + ], + "question": "What was the primary role of collectibles in paleolithic societies", + "text": "Collectibles served as a precursor to money by allowing trade between different groups and facilitating the transfer of wealth between generations. Although they were not used as frequently as modern money in paleolithic societies, collectibles still served as a store of value and could sometimes even facilitate trade.\n\nPrimitive forms of money, such as collectibles, had a low velocity compared to modern currency and might only be transferred a few times during an individual's lifetime. However, durable collectibles that were passed down through generations had substantial value at each transfer and sometimes made trade possible.\n", + "title": "What was the primary role of collectibles in paleolithic societies" + } + } + } + }, + { + "anticipatingDemand": { "title": "Anticipating Demand", - "type": "Text" - }, - { - "answers": [ - "A concept that helps societies decide on a single store of value", - "A type of dance that promotes trade and the division of labor", - "A musical instrument that makes it easier to conduct trade and specialize in different tasks" - ], - "feedback": [ - "Congratulations, you are correct! A Nash Equilibrium is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy. In the context of choosing a store of value, achieving a Nash Equilibrium means that society has converged on a single store of value, which greatly facilitates trade and the division of labor. Fun fact: Bitcoin is often cited as an example of a Nash Equilibrium, as it has become the dominant cryptocurrency due to its perceived value and widespread adoption", - "Sorry, that is not the correct answer. While a Nash Equilibrium has nothing to do with dance, it is an important concept in game theory that can benefit society", - "I'm afraid that is not the correct answer. While music can bring people together and facilitate cooperation, a Nash Equilibrium has nothing to do with musical instruments. It is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy." - ], - "id": "nashEquilibrium", - "question": "What is a Nash Equilibrium and how does it benefit society", - "text": "Acquiring an item with the expectation that it will be desired as a future store of value can accelerate its adoption for that purpose. This process can create a feedback loop that drives societies towards adopting a single store of value.\n\nIn game theory, this is known as a \"Nash Equilibrium\". Reaching a Nash Equilibrium for a store of value can greatly benefit a society, as it makes trade and the division of labor easier and paves the way for the development of civilization.\n", + "questions": { + "anticipatingDemand": { + "answers": [ + "The ability to buy collectibles at a lower price before they became widely sought after", + "The ability to trade collectibles for other useful items", + "The ability to impress others with their collection of rare and valuable items" + ], + "feedback": [ + "Congratulations, you are correct! It seems that the concept of \"buy low, sell high\" is not a modern invention, as early humans also sought to acquire collectibles at a lower cost before their demand and trade value increased. Fun fact: this principle also applies to bitcoin, where early adopters were able to acquire bitcoins at a much lower price before their value skyrocketed", + "Sorry, that is not the correct answer. While being able to trade collectibles for other useful items may have been a benefit of correctly anticipating demand, it was not the main advantage", + "I'm afraid that is not the correct answer. While having a collection of rare and valuable items may have been a source of pride and admiration, it was not the main advantage" + ], + "question": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies", + "text": "The choice of which items to collect or create posed a significant problem for early humans, as they had to anticipate which objects would be desired by others. The ability to correctly predict which items would be in demand for their collectible value gave a significant advantage to the owner in terms of their ability to trade and accumulate wealth.\n\nSome Native American tribes, such as the Narragansetts, even focused on producing collectibles that had little practical use, but were valuable in trade.\n\nThe earlier a collectible is anticipated to be in future demand, the greater the advantage its possessor has, as it can be obtained at a lower cost before it becomes widely sought after and its trade value increases as the number of people demanding it grows.\n", + "title": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies" + } + } + } + }, + { + "nashEquilibrium": { "title": "The Key to Facilitating Trade", - "type": "Text" - }, - { - "answers": [ - "To increase the purchasing power of their savings", - "To learn about other cultures and societies", - "To show off their wealth and status" - ], - "feedback": [ - "Correct! Merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society because it increased the purchasing power of their savings. This not only benefited the merchants, but also the society as a whole, as the adoption of a single store of value reduced the cost of completing trade with other societies and increased trade-based wealth. Fun fact: Bitcoin is an example of a store of value that has been adopted by many societies, and its widespread adoption has increased its purchasing power and facilitated trade", - "Sorry, that is not the correct answer. While learning about other cultures and societies may have been a side benefit of promoting the adoption of a foreign store of value, it was not the main reason", - "I'm afraid that is not the correct answer. While showing off wealth and status may have been a motivation for some individuals, it was not the main reason for why merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society." - ], - "id": "singleStoreOfValue", - "question": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society", - "text": "As human societies and trade routes developed over time, stores of value that emerged in different societies began to compete with each other. Merchants and traders had to decide whether to save their profits in the store of value of their own society or in the store of value of the society they were trading with, or a combination of both.\n\nHolding savings in a foreign store of value gave merchants the ability to complete trade more easily in that society, and also gave them an incentive to promote the adoption of that store of value in their own society, as it would increase the purchasing power of their savings.\n\nWhen two societies adopt the same store of value, they see a significant reduction in the cost of trading with each other and an increase in trade-based wealth. In the 19th century, most of the world converged on a single store of value – gold – and this period saw the greatest increase in trade in history.\n", + "questions": { + "nashEquilibrium": { + "answers": [ + "A concept that helps societies decide on a single store of value", + "A type of dance that promotes trade and the division of labor", + "A musical instrument that makes it easier to conduct trade and specialize in different tasks" + ], + "feedback": [ + "Congratulations, you are correct! A Nash Equilibrium is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy. In the context of choosing a store of value, achieving a Nash Equilibrium means that society has converged on a single store of value, which greatly facilitates trade and the division of labor. Fun fact: Bitcoin is often cited as an example of a Nash Equilibrium, as it has become the dominant cryptocurrency due to its perceived value and widespread adoption", + "Sorry, that is not the correct answer. While a Nash Equilibrium has nothing to do with dance, it is an important concept in game theory that can benefit society", + "I'm afraid that is not the correct answer. While music can bring people together and facilitate cooperation, a Nash Equilibrium has nothing to do with musical instruments. It is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy." + ], + "question": "What is a Nash Equilibrium and how does it benefit society", + "text": "Acquiring an item with the expectation that it will be desired as a future store of value can accelerate its adoption for that purpose. This process can create a feedback loop that drives societies towards adopting a single store of value.\n\nIn game theory, this is known as a \"Nash Equilibrium\". Reaching a Nash Equilibrium for a store of value can greatly benefit a society, as it makes trade and the division of labor easier and paves the way for the development of civilization.\n", + "title": "What is a Nash Equilibrium and how does it benefit society" + } + } + } + }, + { + "singleStoreOfValue": { "title": "The Benefits of Converging on a Single Store of Value", - "type": "Text" + "questions": { + "singleStoreOfValue": { + "answers": [ + "To increase the purchasing power of their savings", + "To learn about other cultures and societies", + "To show off their wealth and status" + ], + "feedback": [ + "Correct! Merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society because it increased the purchasing power of their savings. This not only benefited the merchants, but also the society as a whole, as the adoption of a single store of value reduced the cost of completing trade with other societies and increased trade-based wealth. Fun fact: Bitcoin is an example of a store of value that has been adopted by many societies, and its widespread adoption has increased its purchasing power and facilitated trade", + "Sorry, that is not the correct answer. While learning about other cultures and societies may have been a side benefit of promoting the adoption of a foreign store of value, it was not the main reason", + "I'm afraid that is not the correct answer. While showing off wealth and status may have been a motivation for some individuals, it was not the main reason for why merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society." + ], + "question": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society", + "text": "As human societies and trade routes developed over time, stores of value that emerged in different societies began to compete with each other. Merchants and traders had to decide whether to save their profits in the store of value of their own society or in the store of value of the society they were trading with, or a combination of both.\n\nHolding savings in a foreign store of value gave merchants the ability to complete trade more easily in that society, and also gave them an incentive to promote the adoption of that store of value in their own society, as it would increase the purchasing power of their savings.\n\nWhen two societies adopt the same store of value, they see a significant reduction in the cost of trading with each other and an increase in trade-based wealth. In the 19th century, most of the world converged on a single store of value – gold – and this period saw the greatest increase in trade in history.\n", + "title": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society" + } + } } - ], - "meta": { - "id": "TheOriginsofMoney", - "title": "The Origins of Money" } -} +] diff --git a/chapter-201-the-origins-of-money/201-es-combined.json b/chapter-201-the-origins-of-money/201-es-combined.json deleted file mode 100644 index 990d3b7..0000000 --- a/chapter-201-the-origins-of-money/201-es-combined.json +++ /dev/null @@ -1,93 +0,0 @@ -{ - "content": [ - { - "answers": [ - "Para almacenar y transferir riqueza", - "Servir como forma de entretenimiento.", - "Actuar como s\u00edmbolo de estatus" - ], - "feedback": [ - "\u00a1Felicidades! Le diste al clavo. Los objetos coleccionables se han utilizado durante mucho tiempo como medio para almacenar y transferir riqueza, de forma muy similar a c\u00f3mo se utiliza hoy Bitcoin como moneda digital descentralizada.", - "Lo sentimos, pero los coleccionables no son s\u00f3lo para mostrar: tienen un prop\u00f3sito m\u00e1s profundo.", - "Si bien los objetos coleccionables pueden servir como s\u00edmbolo de estatus para algunos, implican mucho m\u00e1s que simplemente lucirse." - ], - "id": "or\u00edgenes del dinero", - "question": "\u00bfCu\u00e1l es la funci\u00f3n evolutiva primaria y \u00faltima de los coleccionables?", - "text": "Las primeras sociedades humanas comerciaban mediante el trueque, pero este m\u00e9todo ten\u00eda varias limitaciones. Un problema era el de la \"doble coincidencia de deseos\", en el que dos personas necesitaban desear el mismo art\u00edculo al mismo tiempo para completar un intercambio.\n\nPara superar este problema, los humanos comenzaron a coleccionar y valorar ciertos elementos por su rareza y significado simb\u00f3lico, como conchas, dientes de animales y pedernal.\n\nEstos objetos coleccionables sirvieron para que los primeros humanos almacenaran y transfirieran riqueza, proporcionando una ventaja evolutiva sobre otras especies como el Homo neanderthalensis.\n", - "title": "Los or\u00edgenes del dinero", - "type": "Texto" - }, - { - "answers": [ - "Para almacenar valor", - "Servir como forma de entretenimiento.", - "Actuar como medio de intercambio." - ], - "feedback": [ - "\u00a1Felicidades! Tienes raz\u00f3n en el dinero (juego de palabras). Los objetos coleccionables sirvieron como dep\u00f3sito de valor en las sociedades paleol\u00edticas, de forma muy similar a como Bitcoin y otras criptomonedas se utilizan hoy en d\u00eda como dep\u00f3sito digital de valor.", - "Lo sentimos, los objetos coleccionables pueden ser divertidos de coleccionar, pero ten\u00edan un prop\u00f3sito m\u00e1s pr\u00e1ctico en las sociedades antiguas.", - "Los objetos coleccionables no se utilizaban con tanta frecuencia como la moneda moderna, por lo que no desempe\u00f1aban el mismo papel como medio de cambio." - ], - "id": "primitivoDinero", - "question": "\u00bfCu\u00e1l fue el papel principal de los objetos de colecci\u00f3n en las sociedades paleol\u00edticas?", - "text": "Los coleccionables sirvieron como precursores del dinero al permitir el comercio entre diferentes grupos y facilitar la transferencia de riqueza entre generaciones. Aunque no se utilizaban con tanta frecuencia como el dinero moderno en las sociedades paleol\u00edticas, los objetos de colecci\u00f3n todav\u00eda serv\u00edan como dep\u00f3sito de valor y, en ocasiones, incluso pod\u00edan facilitar el comercio.\n\nLas formas primitivas de dinero, como los objetos de colecci\u00f3n, ten\u00edan una velocidad baja en comparaci\u00f3n con la moneda moderna y solo pod\u00edan transferirse unas pocas veces durante la vida de un individuo. Sin embargo, los objetos de colecci\u00f3n duraderos que se transmitieron de generaci\u00f3n en generaci\u00f3n ten\u00edan un valor sustancial en cada transferencia y, en ocasiones, hicieron posible el comercio.\n", - "title": "Formas primitivas de dinero.", - "type": "Texto" - }, - { - "answers": [ - "La posibilidad de comprar objetos de colecci\u00f3n a un precio m\u00e1s bajo antes de que se volvieran muy buscados.", - "La posibilidad de intercambiar objetos coleccionables por otros art\u00edculos \u00fatiles.", - "La capacidad de impresionar a otros con su colecci\u00f3n de art\u00edculos raros y valiosos." - ], - "feedback": [ - "\u00a1Felicidades, tienes raz\u00f3n! Parece que el concepto de \"comprar barato, vender caro\" no es una invenci\u00f3n moderna, ya que los primeros humanos tambi\u00e9n buscaban adquirir objetos de colecci\u00f3n a un costo menor antes de que aumentara su demanda y su valor comercial. Dato curioso: este principio tambi\u00e9n se aplica a bitcoin, donde los primeros usuarios pudieron adquirir bitcoins a un precio mucho m\u00e1s bajo antes de que su valor se disparara.", - "Lo siento, esa no es la respuesta correcta. Si bien poder intercambiar objetos coleccionables por otros art\u00edculos \u00fatiles puede haber sido un beneficio de anticipar correctamente la demanda, no fue la principal ventaja.", - "Me temo que esa no es la respuesta correcta. Si bien tener una colecci\u00f3n de art\u00edculos raros y valiosos puede haber sido una fuente de orgullo y admiraci\u00f3n, no fue la principal ventaja." - ], - "id": "anticipando la demanda", - "question": "\u00bfCu\u00e1l fue la principal ventaja de poder anticipar la demanda futura de art\u00edculos coleccionables en las primeras sociedades humanas?", - "text": "La elecci\u00f3n de qu\u00e9 objetos coleccionar o crear plante\u00f3 un problema importante para los primeros humanos, ya que ten\u00edan que anticipar qu\u00e9 objetos desear\u00edan los dem\u00e1s. La capacidad de predecir correctamente qu\u00e9 art\u00edculos tendr\u00edan demanda por su valor coleccionable daba una ventaja significativa al propietario en t\u00e9rminos de su capacidad para comerciar y acumular riqueza.\n\nAlgunas tribus nativas americanas, como los Narragansetts, incluso se centraron en producir objetos de colecci\u00f3n que ten\u00edan poco uso pr\u00e1ctico, pero que eran valiosos para el comercio.\n\nCuanto antes se anticipe que un objeto de colecci\u00f3n tendr\u00e1 demanda futura, mayor ser\u00e1 la ventaja para su poseedor, ya que se puede obtener a un costo menor antes de que sea ampliamente buscado y su valor comercial aumenta a medida que crece el n\u00famero de personas que lo demandan.\n", - "title": "Anticipando la demanda", - "type": "Texto" - }, - { - "answers": [ - "Un concepto que ayuda a las sociedades a decidir sobre una \u00fanica reserva de valor", - "Un tipo de danza que promueve el comercio y la divisi\u00f3n del trabajo.", - "Un instrumento musical que facilita la realizaci\u00f3n del comercio y la especializaci\u00f3n en diferentes tareas." - ], - "feedback": [ - "\u00a1Felicidades, tienes raz\u00f3n! Un equilibrio de Nash es un concepto de la teor\u00eda de juegos que se refiere a una situaci\u00f3n en la que ning\u00fan jugador puede obtener una ventaja cambiando su estrategia. En el contexto de la elecci\u00f3n de una reserva de valor, lograr un equilibrio de Nash significa que la sociedad ha convergido en una \u00fanica reserva de valor, lo que facilita enormemente el comercio y la divisi\u00f3n del trabajo. Dato curioso: Bitcoin se cita a menudo como un ejemplo de equilibrio de Nash, ya que se ha convertido en la criptomoneda dominante debido a su valor percibido y su adopci\u00f3n generalizada.", - "Lo siento, esa no es la respuesta correcta. Si bien el equilibrio de Nash no tiene nada que ver con la danza, es un concepto importante en la teor\u00eda de juegos que puede beneficiar a la sociedad.", - "Me temo que esa no es la respuesta correcta. Si bien la m\u00fasica puede unir a las personas y facilitar la cooperaci\u00f3n, el equilibrio de Nash no tiene nada que ver con los instrumentos musicales. Es un concepto de la teor\u00eda de juegos que se refiere a una situaci\u00f3n en la que ning\u00fan jugador puede obtener ventaja cambiando su estrategia." - ], - "id": "equilibrio de Nash", - "question": "\u00bfQu\u00e9 es el equilibrio de Nash y c\u00f3mo beneficia a la sociedad?", - "text": "Adquirir un art\u00edculo con la expectativa de que ser\u00e1 deseado como reserva de valor en el futuro puede acelerar su adopci\u00f3n para ese prop\u00f3sito. Este proceso puede crear un circuito de retroalimentaci\u00f3n que impulse a las sociedades a adoptar una \u00fanica reserva de valor.\n\nEn teor\u00eda de juegos, esto se conoce como \"equilibrio de Nash\". Alcanzar un equilibrio de Nash para una reserva de valor puede beneficiar enormemente a una sociedad, ya que facilita el comercio y la divisi\u00f3n del trabajo y allana el camino para el desarrollo de la civilizaci\u00f3n.\n", - "title": "La clave para facilitar el comercio", - "type": "Texto" - }, - { - "answers": [ - "Para aumentar el poder adquisitivo de sus ahorros.", - "Para aprender sobre otras culturas y sociedades.", - "Para mostrar su riqueza y estatus." - ], - "feedback": [ - "\u00a1Correcto! Los comerciantes y comerciantes ten\u00edan un incentivo para promover la adopci\u00f3n de una reserva de valor extranjera en su propia sociedad porque aumentaba el poder adquisitivo de sus ahorros. Esto no s\u00f3lo benefici\u00f3 a los comerciantes, sino tambi\u00e9n a la sociedad en su conjunto, ya que la adopci\u00f3n de una \u00fanica reserva de valor redujo el costo de completar el comercio con otras sociedades y aument\u00f3 la riqueza basada en el comercio. Dato curioso: Bitcoin es un ejemplo de dep\u00f3sito de valor que ha sido adoptado por muchas sociedades, y su adopci\u00f3n generalizada ha aumentado su poder adquisitivo y facilitado el comercio.", - "Lo siento, esa no es la respuesta correcta. Si bien aprender sobre otras culturas y sociedades puede haber sido un beneficio secundario de promover la adopci\u00f3n de una reserva de valor extranjera, no fue la raz\u00f3n principal.", - "Me temo que esa no es la respuesta correcta. Si bien mostrar riqueza y estatus puede haber sido una motivaci\u00f3n para algunos individuos, no fue la raz\u00f3n principal por la cual los comerciantes y comerciantes ten\u00edan un incentivo para promover la adopci\u00f3n de una reserva de valor extranjera en su propia sociedad." - ], - "id": "singleStoreOfValue", - "question": "\u00bfPor qu\u00e9 los comerciantes y comerciantes de las primeras sociedades humanas ten\u00edan un incentivo para promover la adopci\u00f3n de una reserva de valor extranjera en su propia sociedad?", - "text": "A medida que las sociedades humanas y las rutas comerciales se desarrollaron con el tiempo, las reservas de valor que surgieron en diferentes sociedades comenzaron a competir entre s\u00ed. Los comerciantes y comerciantes ten\u00edan que decidir si guardar\u00edan sus ganancias en el dep\u00f3sito de valor de su propia sociedad o en el dep\u00f3sito de valor de la sociedad con la que comerciaban, o en una combinaci\u00f3n de ambos.\n\nMantener ahorros en una reserva de valor extranjera dio a los comerciantes la capacidad de realizar transacciones comerciales m\u00e1s f\u00e1cilmente en esa sociedad, y tambi\u00e9n les dio un incentivo para promover la adopci\u00f3n de esa reserva de valor en su propia sociedad, ya que aumentar\u00eda el poder adquisitivo de sus clientes. ahorros.\n\nCuando dos sociedades adoptan la misma reserva de valor, ven una reducci\u00f3n significativa en el costo del comercio entre s\u00ed y un aumento en la riqueza basada en el comercio. En el siglo XIX, la mayor parte del mundo convergi\u00f3 en un \u00fanico dep\u00f3sito de valor \u2013el oro\u2013 y en este per\u00edodo se produjo el mayor aumento del comercio de la historia.\n", - "title": "Los beneficios de converger en una \u00fanica reserva de valor", - "type": "Texto" - } - ], - "meta": { - "id": "Los or\u00edgenes del dinero", - "title": "Los or\u00edgenes del dinero" - } -} \ No newline at end of file diff --git a/chapter-201-the-origins-of-money/201.01-lesson-origins-of-money.json b/chapter-201-the-origins-of-money/201.01-lesson-origins-of-money.json index 6ea8470..1b5b880 100644 --- a/chapter-201-the-origins-of-money/201.01-lesson-origins-of-money.json +++ b/chapter-201-the-origins-of-money/201.01-lesson-origins-of-money.json @@ -1,17 +1,22 @@ { - "answers": [ - "To store and transfer wealth", - "To serve as a form of entertainment", - "To act as a status symbol" - ], - "feedback": [ - "Congratulations! You hit the nail on the head. Collectibles have long been used as a medium for storing and transferring wealth, much like how Bitcoin is used today as a decentralized digital currency", - "Sorry, but collectibles aren't just for show - they have a deeper purpose", - "While collectibles may serve as a status symbol for some, there's more to it than just showing off." - ], - "id": "originsOfMoney", - "question": "What is the primary and ultimate evolutionary function of collectibles", - "text": "The earliest human societies engaged in trade through barter, but this method had several limitations. One issue was the \"double coincidence of wants\" problem, where two people needed to desire the same item at the same time in order to complete a trade.\n\nTo overcome this issue, humans began to collect and value certain items for their rarity and symbolic significance, such as shells, animal teeth, and flint.\n\nThese collectibles served as a way for early humans to store and transfer wealth, providing an evolutionary advantage over other species such as Homo neanderthalensis.\n", - "title": "The origins of money", - "type": "Text" + "originsOfMoney": { + "title": "The origins of money", + "questions": { + "originsOfMoney": { + "answers": [ + "To store and transfer wealth", + "To serve as a form of entertainment", + "To act as a status symbol" + ], + "feedback": [ + "Congratulations! You hit the nail on the head. Collectibles have long been used as a medium for storing and transferring wealth, much like how Bitcoin is used today as a decentralized digital currency", + "Sorry, but collectibles aren't just for show - they have a deeper purpose", + "While collectibles may serve as a status symbol for some, there's more to it than just showing off." + ], + "question": "What is the primary and ultimate evolutionary function of collectibles", + "text": "The earliest human societies engaged in trade through barter, but this method had several limitations. One issue was the \"double coincidence of wants\" problem, where two people needed to desire the same item at the same time in order to complete a trade.\n\nTo overcome this issue, humans began to collect and value certain items for their rarity and symbolic significance, such as shells, animal teeth, and flint.\n\nThese collectibles served as a way for early humans to store and transfer wealth, providing an evolutionary advantage over other species such as Homo neanderthalensis.\n", + "title": "What is the primary and ultimate evolutionary function of collectibles" + } + } + } } diff --git a/chapter-201-the-origins-of-money/201.02-lesson-primitive-money.json b/chapter-201-the-origins-of-money/201.02-lesson-primitive-money.json index 0055386..7f75fed 100644 --- a/chapter-201-the-origins-of-money/201.02-lesson-primitive-money.json +++ b/chapter-201-the-origins-of-money/201.02-lesson-primitive-money.json @@ -1,17 +1,22 @@ { - "answers": [ - "To store value", - "To serve as a form of entertainment", - "To act as a medium of exchange" - ], - "feedback": [ - "Congratulations! You're right on the money (pun intended). Collectibles served as a store of value in paleolithic societies, much like how Bitcoin and other cryptocurrencies are used today as a digital store of value", - "Sorry, collectibles might be fun to collect, but they had a more practical purpose in ancient societies", - "Collectibles were not used as frequently as modern currency, so they didn't quite play the same role as a medium of exchange." - ], - "id": "primitiveMoney", - "question": "What was the primary role of collectibles in paleolithic societies", - "text": "Collectibles served as a precursor to money by allowing trade between different groups and facilitating the transfer of wealth between generations. Although they were not used as frequently as modern money in paleolithic societies, collectibles still served as a store of value and could sometimes even facilitate trade.\n\nPrimitive forms of money, such as collectibles, had a low velocity compared to modern currency and might only be transferred a few times during an individual's lifetime. However, durable collectibles that were passed down through generations had substantial value at each transfer and sometimes made trade possible.\n", - "title": "Primitive forms of money", - "type": "Text" + "primitiveMoney": { + "title": "Primitive forms of money", + "questions": { + "primitiveMoney": { + "answers": [ + "To store value", + "To serve as a form of entertainment", + "To act as a medium of exchange" + ], + "feedback": [ + "Congratulations! You're right on the money (pun intended). Collectibles served as a store of value in paleolithic societies, much like how Bitcoin and other cryptocurrencies are used today as a digital store of value", + "Sorry, collectibles might be fun to collect, but they had a more practical purpose in ancient societies", + "Collectibles were not used as frequently as modern currency, so they didn't quite play the same role as a medium of exchange." + ], + "question": "What was the primary role of collectibles in paleolithic societies", + "text": "Collectibles served as a precursor to money by allowing trade between different groups and facilitating the transfer of wealth between generations. Although they were not used as frequently as modern money in paleolithic societies, collectibles still served as a store of value and could sometimes even facilitate trade.\n\nPrimitive forms of money, such as collectibles, had a low velocity compared to modern currency and might only be transferred a few times during an individual's lifetime. However, durable collectibles that were passed down through generations had substantial value at each transfer and sometimes made trade possible.\n", + "title": "What was the primary role of collectibles in paleolithic societies" + } + } + } } diff --git a/chapter-201-the-origins-of-money/201.03-lesson-anticipating-demand.json b/chapter-201-the-origins-of-money/201.03-lesson-anticipating-demand.json index 7dd3e5f..0b75c6e 100644 --- a/chapter-201-the-origins-of-money/201.03-lesson-anticipating-demand.json +++ b/chapter-201-the-origins-of-money/201.03-lesson-anticipating-demand.json @@ -1,17 +1,22 @@ { - "answers": [ - "The ability to buy collectibles at a lower price before they became widely sought after", - "The ability to trade collectibles for other useful items", - "The ability to impress others with their collection of rare and valuable items" - ], - "feedback": [ - "Congratulations, you are correct! It seems that the concept of \"buy low, sell high\" is not a modern invention, as early humans also sought to acquire collectibles at a lower cost before their demand and trade value increased. Fun fact: this principle also applies to bitcoin, where early adopters were able to acquire bitcoins at a much lower price before their value skyrocketed", - "Sorry, that is not the correct answer. While being able to trade collectibles for other useful items may have been a benefit of correctly anticipating demand, it was not the main advantage", - "I'm afraid that is not the correct answer. While having a collection of rare and valuable items may have been a source of pride and admiration, it was not the main advantage" - ], - "id": "anticipatingDemand", - "question": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies", - "text": "The choice of which items to collect or create posed a significant problem for early humans, as they had to anticipate which objects would be desired by others. The ability to correctly predict which items would be in demand for their collectible value gave a significant advantage to the owner in terms of their ability to trade and accumulate wealth.\n\nSome Native American tribes, such as the Narragansetts, even focused on producing collectibles that had little practical use, but were valuable in trade.\n\nThe earlier a collectible is anticipated to be in future demand, the greater the advantage its possessor has, as it can be obtained at a lower cost before it becomes widely sought after and its trade value increases as the number of people demanding it grows.\n", - "title": "Anticipating Demand", - "type": "Text" + "anticipatingDemand": { + "title": "Anticipating Demand", + "questions": { + "anticipatingDemand": { + "answers": [ + "The ability to buy collectibles at a lower price before they became widely sought after", + "The ability to trade collectibles for other useful items", + "The ability to impress others with their collection of rare and valuable items" + ], + "feedback": [ + "Congratulations, you are correct! It seems that the concept of \"buy low, sell high\" is not a modern invention, as early humans also sought to acquire collectibles at a lower cost before their demand and trade value increased. Fun fact: this principle also applies to bitcoin, where early adopters were able to acquire bitcoins at a much lower price before their value skyrocketed", + "Sorry, that is not the correct answer. While being able to trade collectibles for other useful items may have been a benefit of correctly anticipating demand, it was not the main advantage", + "I'm afraid that is not the correct answer. While having a collection of rare and valuable items may have been a source of pride and admiration, it was not the main advantage" + ], + "question": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies", + "text": "The choice of which items to collect or create posed a significant problem for early humans, as they had to anticipate which objects would be desired by others. The ability to correctly predict which items would be in demand for their collectible value gave a significant advantage to the owner in terms of their ability to trade and accumulate wealth.\n\nSome Native American tribes, such as the Narragansetts, even focused on producing collectibles that had little practical use, but were valuable in trade.\n\nThe earlier a collectible is anticipated to be in future demand, the greater the advantage its possessor has, as it can be obtained at a lower cost before it becomes widely sought after and its trade value increases as the number of people demanding it grows.\n", + "title": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies" + } + } + } } diff --git a/chapter-201-the-origins-of-money/201.04-lesson-nash-equilibrium.json b/chapter-201-the-origins-of-money/201.04-lesson-nash-equilibrium.json index 83ad3ab..7280de3 100644 --- a/chapter-201-the-origins-of-money/201.04-lesson-nash-equilibrium.json +++ b/chapter-201-the-origins-of-money/201.04-lesson-nash-equilibrium.json @@ -1,17 +1,22 @@ { - "answers": [ - "A concept that helps societies decide on a single store of value", - "A type of dance that promotes trade and the division of labor", - "A musical instrument that makes it easier to conduct trade and specialize in different tasks" - ], - "feedback": [ - "Congratulations, you are correct! A Nash Equilibrium is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy. In the context of choosing a store of value, achieving a Nash Equilibrium means that society has converged on a single store of value, which greatly facilitates trade and the division of labor. Fun fact: Bitcoin is often cited as an example of a Nash Equilibrium, as it has become the dominant cryptocurrency due to its perceived value and widespread adoption", - "Sorry, that is not the correct answer. While a Nash Equilibrium has nothing to do with dance, it is an important concept in game theory that can benefit society", - "I'm afraid that is not the correct answer. While music can bring people together and facilitate cooperation, a Nash Equilibrium has nothing to do with musical instruments. It is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy." - ], - "id": "nashEquilibrium", - "question": "What is a Nash Equilibrium and how does it benefit society", - "text": "Acquiring an item with the expectation that it will be desired as a future store of value can accelerate its adoption for that purpose. This process can create a feedback loop that drives societies towards adopting a single store of value.\n\nIn game theory, this is known as a \"Nash Equilibrium\". Reaching a Nash Equilibrium for a store of value can greatly benefit a society, as it makes trade and the division of labor easier and paves the way for the development of civilization.\n", - "title": "The Key to Facilitating Trade", - "type": "Text" + "nashEquilibrium": { + "title": "The Key to Facilitating Trade", + "questions": { + "nashEquilibrium": { + "answers": [ + "A concept that helps societies decide on a single store of value", + "A type of dance that promotes trade and the division of labor", + "A musical instrument that makes it easier to conduct trade and specialize in different tasks" + ], + "feedback": [ + "Congratulations, you are correct! A Nash Equilibrium is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy. In the context of choosing a store of value, achieving a Nash Equilibrium means that society has converged on a single store of value, which greatly facilitates trade and the division of labor. Fun fact: Bitcoin is often cited as an example of a Nash Equilibrium, as it has become the dominant cryptocurrency due to its perceived value and widespread adoption", + "Sorry, that is not the correct answer. While a Nash Equilibrium has nothing to do with dance, it is an important concept in game theory that can benefit society", + "I'm afraid that is not the correct answer. While music can bring people together and facilitate cooperation, a Nash Equilibrium has nothing to do with musical instruments. It is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy." + ], + "question": "What is a Nash Equilibrium and how does it benefit society", + "text": "Acquiring an item with the expectation that it will be desired as a future store of value can accelerate its adoption for that purpose. This process can create a feedback loop that drives societies towards adopting a single store of value.\n\nIn game theory, this is known as a \"Nash Equilibrium\". Reaching a Nash Equilibrium for a store of value can greatly benefit a society, as it makes trade and the division of labor easier and paves the way for the development of civilization.\n", + "title": "What is a Nash Equilibrium and how does it benefit society" + } + } + } } diff --git a/chapter-201-the-origins-of-money/201.05-lesson-single-store-of-value.json b/chapter-201-the-origins-of-money/201.05-lesson-single-store-of-value.json index d4f1c4c..e3beae3 100644 --- a/chapter-201-the-origins-of-money/201.05-lesson-single-store-of-value.json +++ b/chapter-201-the-origins-of-money/201.05-lesson-single-store-of-value.json @@ -1,17 +1,22 @@ { - "answers": [ - "To increase the purchasing power of their savings", - "To learn about other cultures and societies", - "To show off their wealth and status" - ], - "feedback": [ - "Correct! Merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society because it increased the purchasing power of their savings. This not only benefited the merchants, but also the society as a whole, as the adoption of a single store of value reduced the cost of completing trade with other societies and increased trade-based wealth. Fun fact: Bitcoin is an example of a store of value that has been adopted by many societies, and its widespread adoption has increased its purchasing power and facilitated trade", - "Sorry, that is not the correct answer. While learning about other cultures and societies may have been a side benefit of promoting the adoption of a foreign store of value, it was not the main reason", - "I'm afraid that is not the correct answer. While showing off wealth and status may have been a motivation for some individuals, it was not the main reason for why merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society." - ], - "id": "singleStoreOfValue", - "question": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society", - "text": "As human societies and trade routes developed over time, stores of value that emerged in different societies began to compete with each other. Merchants and traders had to decide whether to save their profits in the store of value of their own society or in the store of value of the society they were trading with, or a combination of both.\n\nHolding savings in a foreign store of value gave merchants the ability to complete trade more easily in that society, and also gave them an incentive to promote the adoption of that store of value in their own society, as it would increase the purchasing power of their savings.\n\nWhen two societies adopt the same store of value, they see a significant reduction in the cost of trading with each other and an increase in trade-based wealth. In the 19th century, most of the world converged on a single store of value – gold – and this period saw the greatest increase in trade in history.\n", - "title": "The Benefits of Converging on a Single Store of Value", - "type": "Text" + "singleStoreOfValue": { + "title": "The Benefits of Converging on a Single Store of Value", + "questions": { + "singleStoreOfValue": { + "answers": [ + "To increase the purchasing power of their savings", + "To learn about other cultures and societies", + "To show off their wealth and status" + ], + "feedback": [ + "Correct! Merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society because it increased the purchasing power of their savings. This not only benefited the merchants, but also the society as a whole, as the adoption of a single store of value reduced the cost of completing trade with other societies and increased trade-based wealth. Fun fact: Bitcoin is an example of a store of value that has been adopted by many societies, and its widespread adoption has increased its purchasing power and facilitated trade", + "Sorry, that is not the correct answer. While learning about other cultures and societies may have been a side benefit of promoting the adoption of a foreign store of value, it was not the main reason", + "I'm afraid that is not the correct answer. While showing off wealth and status may have been a motivation for some individuals, it was not the main reason for why merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society." + ], + "question": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society", + "text": "As human societies and trade routes developed over time, stores of value that emerged in different societies began to compete with each other. Merchants and traders had to decide whether to save their profits in the store of value of their own society or in the store of value of the society they were trading with, or a combination of both.\n\nHolding savings in a foreign store of value gave merchants the ability to complete trade more easily in that society, and also gave them an incentive to promote the adoption of that store of value in their own society, as it would increase the purchasing power of their savings.\n\nWhen two societies adopt the same store of value, they see a significant reduction in the cost of trading with each other and an increase in trade-based wealth. In the 19th century, most of the world converged on a single store of value – gold – and this period saw the greatest increase in trade in history.\n", + "title": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society" + } + } + } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202-combined.json b/chapter-202-attributes-of-a-good-store-of-value/202-combined.json index 0d01121..ed5feca 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202-combined.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202-combined.json @@ -1,161 +1,200 @@ -{ - "content": [ - { - "answers": [ - "Durability, portability, interchangeability, verifiability, divisibility, scarcity, long history, and resistance to censorship", - "Tastiness, cuteness, softness, and Instagram-ability", - "Rarity, beauty, and sentimental value" - ], - "feedback": [ - "Yes! A good store of value should have attributes such as durability, portability, interchangeability, verifiability, divisibility, scarcity, a long history, and resistance to censorship. These characteristics make it easier to use as a medium of exchange and store of value, and increase its demand over time", - "Sorry, that is not the correct answer. While tastiness, cuteness, softness, and Instagram-ability may be desirable qualities in other contexts, they are not typically considered important attributes for a store of value", - "I'm afraid that is not the correct answer. While rarity, beauty, and sentimental value may make an item valuable to a particular individual, they are not typically considered important attributes for a store of value that is widely accepted and used as a medium of exchange." - ], - "id": "whatIsGoodSOV", - "question": "What are some attributes that make a good store of value", - "text": "When stores of value compete with each other, the attributes that make a good store of value allow it to outperform its competitors and increase demand over time.\n\nMany goods have been used as stores of value but certain attributes are particularly desirable and allow these goods to be more successful.\n\nAn ideal store of value should be durable, portable, interchangeable, verifiable, divisible, scarce, have a long history, and resistant to censorship.\n", +[ + { + "whatIsGoodSOV": { "title": "Some stores of value are better than others", - "type": "Text" - }, - { - "answers": [ - "The network that secures the currency", - "The physical manifestation of the currency", - "The institution that issues the currency" - ], - "feedback": [ - "You got it right. The network that secures the currency is an important factor in determining its durability, especially for digital currencies like bitcoin. Did you know that bitcoin has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers? That's quite impressive for a currency that's still in its early stages", - "Nope, sorry! The physical manifestation of the currency is actually not as important as the institution that issues it or the network that secures it. Don't worry though, you're not alone in making this mistake. Even the Ancient Greeks used to mint their coins out of perishable materials like bronze and copper", - "Close, but not quite! The institution that issues the currency is actually an important factor in determining its durability. But hey, at least you're not alone in this mistake. There have been many governments and currencies that have come and gone over the centuries." - ], - "id": "durability", - "question": "Which of the following is an important factor in determining the durability of a good store of value", - "text": "The good used as money should not be perishable or easily destroyed. Gold is known for its durability and is often considered the \"king\" in this regard.\n\nA large portion of the gold that has ever been mined or minted, including the gold of the Pharaohs, still exists today and is likely to remain available for many more years. Gold coins that were used as money in ancient times still hold significant value today.\n\nFiat currencies and bitcoins are digital records that may take physical form, such as paper bills. However, it is not the physical manifestation of these currencies that should be considered for their durability, but rather the durability of the institution that issues them.\n\nMany governments and their currencies have come and gone over the centuries, while others, such as the US dollar and British pound, have survived for a longer period of time. Bitcoins have no issuing authority, so their durability depends on the network that secures them. While it is still early to draw strong conclusions about the durability of bitcoins, there are signs that the network has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers.\n", + "questions": { + "whatIsGoodSOV": { + "answers": [ + "Durability, portability, interchangeability, verifiability, divisibility, scarcity, long history, and resistance to censorship", + "Tastiness, cuteness, softness, and Instagram-ability", + "Rarity, beauty, and sentimental value" + ], + "feedback": [ + "Yes! A good store of value should have attributes such as durability, portability, interchangeability, verifiability, divisibility, scarcity, a long history, and resistance to censorship. These characteristics make it easier to use as a medium of exchange and store of value, and increase its demand over time", + "Sorry, that is not the correct answer. While tastiness, cuteness, softness, and Instagram-ability may be desirable qualities in other contexts, they are not typically considered important attributes for a store of value", + "I'm afraid that is not the correct answer. While rarity, beauty, and sentimental value may make an item valuable to a particular individual, they are not typically considered important attributes for a store of value that is widely accepted and used as a medium of exchange." + ], + "question": "What are some attributes that make a good store of value", + "text": "When stores of value compete with each other, the attributes that make a good store of value allow it to outperform its competitors and increase demand over time.\n\nMany goods have been used as stores of value but certain attributes are particularly desirable and allow these goods to be more successful.\n\nAn ideal store of value should be durable, portable, interchangeable, verifiable, divisible, scarce, have a long history, and resistant to censorship.\n", + "title": "What are some attributes that make a good store of value" + } + } + } + }, + { + "durability": { "title": "Durability is an important attribute for a good store of value", - "type": "Text" - }, - { - "answers": [ - "Its physical form", - "Its ability to be easily transported and stored", - "Its ability to facilitate long-distance trade" - ], - "feedback": [ - "You got it right. The physical form of the good is not a factor that makes it portable. In fact, digital currencies like bitcoin are the most portable stores of value because they can be easily stored on a small device and transmitted quickly across long distances. Did you know that private keys representing hundreds of millions of dollars can be stored on a tiny USB drive and easily carried anywhere with bitcoin? That's pretty impressive", - "Sorry, that's incorrect! The ability to be easily transported and stored is actually an important factor that makes a good store of value portable. But don't worry, it's a common mistake. After all, who wouldn't want to carry around a cow as a store of value? It would make for a pretty impressive conversation starter at least", - "Oops, that's not the right answer! The ability to facilitate long-distance trade is actually an important factor that makes a good store of value portable. But hey, at least you're not alone in this mistake. It's easy to see how someone might think that cows are the perfect portable store of value, given their ability to produce milk and beef." - ], - "id": "portability", - "question": "Which of the following is NOT a factor that makes a good store of value portable", - "text": "\n\"Portability\" refers to how easy it is to move or transport a good from one place to another.\n\nBitcoins are highly portable, allowing for easy storage on a small USB drive and quick transmission across long distances. Similarly, fiat currencies are also digital and therefore portable, but government regulations and capital controls can make large transfers of value difficult or impossible.\n\nOn the other hand, gold, being physical in form and very dense, is the least portable store of value, with the majority of bullion never being transported and the transfer of physical gold being costly, risky, and time-consuming.\n", + "questions": { + "durability": { + "answers": [ + "The network that secures the currency", + "The physical manifestation of the currency", + "The institution that issues the currency" + ], + "feedback": [ + "You got it right. The network that secures the currency is an important factor in determining its durability, especially for digital currencies like bitcoin. Did you know that bitcoin has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers? That's quite impressive for a currency that's still in its early stages", + "Nope, sorry! The physical manifestation of the currency is actually not as important as the institution that issues it or the network that secures it. Don't worry though, you're not alone in making this mistake. Even the Ancient Greeks used to mint their coins out of perishable materials like bronze and copper", + "Close, but not quite! The institution that issues the currency is actually an important factor in determining its durability. But hey, at least you're not alone in this mistake. There have been many governments and currencies that have come and gone over the centuries." + ], + "question": "Which of the following is an important factor in determining the durability of a good store of value", + "text": "The good used as money should not be perishable or easily destroyed. Gold is known for its durability and is often considered the \"king\" in this regard.\n\nA large portion of the gold that has ever been mined or minted, including the gold of the Pharaohs, still exists today and is likely to remain available for many more years. Gold coins that were used as money in ancient times still hold significant value today.\n\nFiat currencies and bitcoins are digital records that may take physical form, such as paper bills. However, it is not the physical manifestation of these currencies that should be considered for their durability, but rather the durability of the institution that issues them.\n\nMany governments and their currencies have come and gone over the centuries, while others, such as the US dollar and British pound, have survived for a longer period of time. Bitcoins have no issuing authority, so their durability depends on the network that secures them. While it is still early to draw strong conclusions about the durability of bitcoins, there are signs that the network has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers.\n", + "title": "Which of the following is an important factor in determining the durability of a good store of value" + } + } + } + }, + { + "portability": { "title": "The good must be easy to transport and store", - "type": "Text" - }, - { - "answers": [ - "The shape and quality of diamonds are irregular", - "Gold is more valuable than diamonds", - "Gold is more abundant than diamonds" - ], - "feedback": [ - "Exactly**!** The irregular shape and quality of diamonds makes them less interchangeable than gold, which is why gold is considered more fungible. Did you also know that bitcoin is considered fungible at the network level, but its traceability on the blockchain can sometimes lead to it being treated as non-fungible by merchants or exchanges", - "Wrong answer! Gold may be more valuable than diamonds, but that's not the main reason it's considered more fungible. Looks like you need to brush up on your fungibility knowledge", - "Nope, sorry! While gold may be more abundant than diamonds, that's not the main reason it's considered more fungible. Better luck next time!" - ], - "id": "fungibility", - "question": "What is the main reason that gold is considered more fungible than diamonds", - "text": "\n\"Fungibility\" means that one unit of a currency is interchangeable with another unit of the same currency. This is an important attribute for a good store of value.\n\nGold is a highly fungible store of value, as when melted down, an ounce of gold is essentially indistinguishable from any other. Fiat currencies, on the other hand, may not always be completely fungible, as their issuing institutions may treat different denominations differently.\n\nLike gold, units of bitcoin are fungible, but there are some nuances to it. We'll dive into this in a later chapter.\n", + "questions": { + "portability": { + "answers": [ + "Its physical form", + "Its ability to be easily transported and stored", + "Its ability to facilitate long-distance trade" + ], + "feedback": [ + "You got it right. The physical form of the good is not a factor that makes it portable. In fact, digital currencies like bitcoin are the most portable stores of value because they can be easily stored on a small device and transmitted quickly across long distances. Did you know that private keys representing hundreds of millions of dollars can be stored on a tiny USB drive and easily carried anywhere with bitcoin? That's pretty impressive", + "Sorry, that's incorrect! The ability to be easily transported and stored is actually an important factor that makes a good store of value portable. But don't worry, it's a common mistake. After all, who wouldn't want to carry around a cow as a store of value? It would make for a pretty impressive conversation starter at least", + "Oops, that's not the right answer! The ability to facilitate long-distance trade is actually an important factor that makes a good store of value portable. But hey, at least you're not alone in this mistake. It's easy to see how someone might think that cows are the perfect portable store of value, given their ability to produce milk and beef." + ], + "question": "Which of the following is NOT a factor that makes a good store of value portable", + "text": "\n\"Portability\" refers to how easy it is to move or transport a good from one place to another.\n\nBitcoins are highly portable, allowing for easy storage on a small USB drive and quick transmission across long distances. Similarly, fiat currencies are also digital and therefore portable, but government regulations and capital controls can make large transfers of value difficult or impossible.\n\nOn the other hand, gold, being physical in form and very dense, is the least portable store of value, with the majority of bullion never being transported and the transfer of physical gold being costly, risky, and time-consuming.\n", + "title": "Which of the following is NOT a factor that makes a good store of value portable" + } + } + } + }, + { + "fungibility": { "title": "One specimen should be interchangeable with another of equal quantity", - "type": "Text" - }, - { - "answers": [ - "By using cryptographic signatures", - "By checking for gold-plated tungsten", - "By checking for features on banknotes to prevent counterfeiting" - ], - "feedback": [ - "Congratulations! You are correct. Bitcoin can be verified with mathematical certainty using cryptographic signatures", - "Sorry, but that's not quite right. Better luck next time", - "Wrong! Bitcoin is purely digital and doesn't utilize banknotes. Try again!" - ], - "id": "verifiability", - "question": "How can bitcoin be verified", - "text": "It is important for a good store of value to be easily verifiable as authentic. This increases confidence in trade and the likelihood that a transaction will be completed.\n\nBoth fiat currencies and gold are generally easy to verify, but they are not foolproof. Counterfeit bills and gold-plated tungsten have been used to deceive people in the past.\n\nOn the other hand, the use of cryptography makes verification very easy for bitcoin and makes counterfeiting impossible.\n", + "questions": { + "fungibility": { + "answers": [ + "The shape and quality of diamonds are irregular", + "Gold is more valuable than diamonds", + "Gold is more abundant than diamonds" + ], + "feedback": [ + "Exactly**!** The irregular shape and quality of diamonds makes them less interchangeable than gold, which is why gold is considered more fungible. Did you also know that bitcoin is considered fungible at the network level, but its traceability on the blockchain can sometimes lead to it being treated as non-fungible by merchants or exchanges", + "Wrong answer! Gold may be more valuable than diamonds, but that's not the main reason it's considered more fungible. Looks like you need to brush up on your fungibility knowledge", + "Nope, sorry! While gold may be more abundant than diamonds, that's not the main reason it's considered more fungible. Better luck next time!" + ], + "question": "What is the main reason that gold is considered more fungible than diamonds", + "text": "\n\"Fungibility\" means that one unit of a currency is interchangeable with another unit of the same currency. This is an important attribute for a good store of value.\n\nGold is a highly fungible store of value, as when melted down, an ounce of gold is essentially indistinguishable from any other. Fiat currencies, on the other hand, may not always be completely fungible, as their issuing institutions may treat different denominations differently.\n\nLike gold, units of bitcoin are fungible, but there are some nuances to it. We'll dive into this in a later chapter.\n", + "title": "What is the main reason that gold is considered more fungible than diamonds" + } + } + } + }, + { + "verifiability": { "title": "The good must be easy to quickly identify and verify as authentic", - "type": "Text" - }, - { - "answers": [ - "Gold", - "Bitcoin", - "Fiat currency" - ], - "feedback": [ - "You are correct. Gold is difficult divide into small quantities for everyday trade. Did you know that gold has been used as a store of value for thousands of years due to its rarity and durability", - "Sorry, but that's not quite right. Bitcoin is highly divisible into its base unit 'satoshi', and it can even be divided into milli-satoshis (1/1000 of a satoshi) on the Lightning Network", - "Nope**.** While fiat currencies are not as divisible as bitcoin, they are easily divisible into smaller denominations." - ], - "id": "divisibility", - "question": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade", - "text": "The ability to divide a good is an important attribute for it to be a good store of value.\n\nImagine you have a $100 bill and want to buy a pack of chewing gum that costs 10 cents. The success of the trade depends on the seller having $99.90 in change available in that moment.\n\nIn societies where trade is prevalent, the ability to divide a good into smaller quantities allows for more precise exchange and can make it easier to use in day-to-day transactions.\n\nBitcoin is particularly useful in this regard, as it can be divided down to a hundred millionth of a unit and transmitted in tiny and exact amounts.\n\nFiat currencies are typically divisible down to pocket change, which has little purchasing power, making fiat divisible enough in practice.\n\nGold, while physically divisible, can be difficult to use in small quantities for everyday trade.\n", + "questions": { + "verifiability": { + "answers": [ + "By using cryptographic signatures", + "By checking for gold-plated tungsten", + "By checking for features on banknotes to prevent counterfeiting" + ], + "feedback": [ + "Congratulations! You are correct. Bitcoin can be verified with mathematical certainty using cryptographic signatures", + "Sorry, but that's not quite right. Better luck next time", + "Wrong! Bitcoin is purely digital and doesn't utilize banknotes. Try again!" + ], + "question": "How can bitcoin be verified", + "text": "It is important for a good store of value to be easily verifiable as authentic. This increases confidence in trade and the likelihood that a transaction will be completed.\n\nBoth fiat currencies and gold are generally easy to verify, but they are not foolproof. Counterfeit bills and gold-plated tungsten have been used to deceive people in the past.\n\nOn the other hand, the use of cryptography makes verification very easy for bitcoin and makes counterfeiting impossible.\n", + "title": "How can bitcoin be verified" + } + } + } + }, + { + "divisibility": { "title": "The good must be easy to subdivide", - "type": "Text" - }, - { - "answers": [ - "Scarcity", - "Abundance", - "Ease of production" - ], - "feedback": [ - "Congratulations! You are correct. Did you know that there will only ever be a maximum of 21 million bitcoins in circulation, making it a scarce and valuable asset", - "Sorry, but abundance is not the most important attribute for a store of value. Better luck next time", - "Sorry, but ease of production is not the most important attribute for a store of value. Better luck next time!" - ], - "id": "scarce", - "question": "What is the most important attribute of a store of value", - "text": "A good store of value should have a limited supply, or be scarce.\n\nThis is because scarcity can create value, as people often desire rare or hard-to-obtain items. Bitcoin, for instance, is designed to have a maximum of 21 million units, which gives each owner a known percentage of the total possible supply.\n\nIn contrast, the supply of gold can potentially increase through new mining methods, and fiat currencies are often prone to inflation, leading to a decline in value over time.\n", + "questions": { + "divisibility": { + "answers": [ + "Gold", + "Bitcoin", + "Fiat currency" + ], + "feedback": [ + "You are correct. Gold is difficult divide into small quantities for everyday trade. Did you know that gold has been used as a store of value for thousands of years due to its rarity and durability", + "Sorry, but that's not quite right. Bitcoin is highly divisible into its base unit 'satoshi', and it can even be divided into milli-satoshis (1/1000 of a satoshi) on the Lightning Network", + "Nope**.** While fiat currencies are not as divisible as bitcoin, they are easily divisible into smaller denominations." + ], + "question": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade", + "text": "The ability to divide a good is an important attribute for it to be a good store of value.\n\nImagine you have a $100 bill and want to buy a pack of chewing gum that costs 10 cents. The success of the trade depends on the seller having $99.90 in change available in that moment.\n\nIn societies where trade is prevalent, the ability to divide a good into smaller quantities allows for more precise exchange and can make it easier to use in day-to-day transactions.\n\nBitcoin is particularly useful in this regard, as it can be divided down to a hundred millionth of a unit and transmitted in tiny and exact amounts.\n\nFiat currencies are typically divisible down to pocket change, which has little purchasing power, making fiat divisible enough in practice.\n\nGold, while physically divisible, can be difficult to use in small quantities for everyday trade.\n", + "title": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade" + } + } + } + }, + { + "scarce": { "title": "A monetary good must scarce", - "type": "Text" - }, - { - "answers": [ - "The new arrival has a significant advantage over the established good", - "The established good has a longer history of being valued by society", - "The new arrival is cheaper to produce" - ], - "feedback": [ - "You are correct. A long-established store of value is less likely to be displaced by a new arrival unless the new arrival has a significant advantage over the established good", - "Sorry, but this is actually the reason that a long-established store of value is less likely to be displaced. Better luck next time", - "Nope, wrong. Did you not pay attention in the previous lesson on scarcity?" - ], - "id": "establishedHistory", - "question": "What is the main reason that a long-established store of value could be displaced by a new arrival", - "text": "This is because a well-established store of value is less likely to be displaced by a newcomer, unless it has a significant advantage over the established good.\n\nAdditionally, people are creatures of habit and will keep using what they already know.\n\nGold, for example, has a long history of being valued and has maintained its value over time. In contrast, fiat currencies, which are a relatively recent invention, have a tendency to lose value over time due to inflation.\n\nBitcoin, although it has only been around for a short time, has shown resilience in the market and is likely to continue to be valued.\n", + "questions": { + "scarce": { + "answers": [ + "Scarcity", + "Abundance", + "Ease of production" + ], + "feedback": [ + "Congratulations! You are correct. Did you know that there will only ever be a maximum of 21 million bitcoins in circulation, making it a scarce and valuable asset", + "Sorry, but abundance is not the most important attribute for a store of value. Better luck next time", + "Sorry, but ease of production is not the most important attribute for a store of value. Better luck next time!" + ], + "question": "What is the most important attribute of a store of value", + "text": "A good store of value should have a limited supply, or be scarce.\n\nThis is because scarcity can create value, as people often desire rare or hard-to-obtain items. Bitcoin, for instance, is designed to have a maximum of 21 million units, which gives each owner a known percentage of the total possible supply.\n\nIn contrast, the supply of gold can potentially increase through new mining methods, and fiat currencies are often prone to inflation, leading to a decline in value over time.\n", + "title": "What is the most important attribute of a store of value" + } + } + } + }, + { + "establishedHistory": { "title": "An established history of being valued by society", - "type": "Text" - }, - { - "answers": [ - "Its decentralized, peer-to-peer network", - "Its physical nature", - "Its regulation by states" - ], - "feedback": [ - "You are correct. The decentralized, peer-to-peer network of Bitcoin allows for transactions to be made without permission, making it a censorship-resistant good", - "No. In fact, physical goods often require permission to cross borders and can easily be confiscated. Better luck next time", - "Sorry, but the opposite is actually true. The fiat banking system, which is regulated by states, requires human intervention to report and prevent certain uses of monetary goods, making it prone to censorship. Try again!" - ], - "id": "censorshipResistance", - "question": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good", - "text": "Censorship-resistance is an attribute that has become increasingly important in the digital age, as it refers to the difficulty that external parties, such as corporations or governments, have in preventing an individual from using a particular good.\n\nThis attribute is particularly valuable for individuals living under regimes that enforce capital controls or prohibit certain forms of trade. Bitcoin is often cited as being a censorship-resistant good due to its decentralized, peer-to-peer network, which allows for transactions to be made without human intervention or permission.\n\nIn contrast, the fiat banking system is regulated by states and requires human intervention to report and prevent certain uses of monetary goods, such as capital controls.\n\nGold, although it is not issued by states, can be difficult to transmit at a distance and is therefore more subject to state regulation.\n", + "questions": { + "establishedHistory": { + "answers": [ + "The new arrival has a significant advantage over the established good", + "The established good has a longer history of being valued by society", + "The new arrival is cheaper to produce" + ], + "feedback": [ + "You are correct. A long-established store of value is less likely to be displaced by a new arrival unless the new arrival has a significant advantage over the established good", + "Sorry, but this is actually the reason that a long-established store of value is less likely to be displaced. Better luck next time", + "Nope, wrong. Did you not pay attention in the previous lesson on scarcity?" + ], + "question": "What is the main reason that a long-established store of value could be displaced by a new arrival", + "text": "This is because a well-established store of value is less likely to be displaced by a newcomer, unless it has a significant advantage over the established good.\n\nAdditionally, people are creatures of habit and will keep using what they already know.\n\nGold, for example, has a long history of being valued and has maintained its value over time. In contrast, fiat currencies, which are a relatively recent invention, have a tendency to lose value over time due to inflation.\n\nBitcoin, although it has only been around for a short time, has shown resilience in the market and is likely to continue to be valued.\n", + "title": "What is the main reason that a long-established store of value could be displaced by a new arrival" + } + } + } + }, + { + "censorshipResistance": { "title": "No permission required", - "type": "Text" + "questions": { + "censorshipResistance": { + "answers": [ + "Its decentralized, peer-to-peer network", + "Its physical nature", + "Its regulation by states" + ], + "feedback": [ + "You are correct. The decentralized, peer-to-peer network of Bitcoin allows for transactions to be made without permission, making it a censorship-resistant good", + "No. In fact, physical goods often require permission to cross borders and can easily be confiscated. Better luck next time", + "Sorry, but the opposite is actually true. The fiat banking system, which is regulated by states, requires human intervention to report and prevent certain uses of monetary goods, making it prone to censorship. Try again!" + ], + "question": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good", + "text": "Censorship-resistance is an attribute that has become increasingly important in the digital age, as it refers to the difficulty that external parties, such as corporations or governments, have in preventing an individual from using a particular good.\n\nThis attribute is particularly valuable for individuals living under regimes that enforce capital controls or prohibit certain forms of trade. Bitcoin is often cited as being a censorship-resistant good due to its decentralized, peer-to-peer network, which allows for transactions to be made without human intervention or permission.\n\nIn contrast, the fiat banking system is regulated by states and requires human intervention to report and prevent certain uses of monetary goods, such as capital controls.\n\nGold, although it is not issued by states, can be difficult to transmit at a distance and is therefore more subject to state regulation.\n", + "title": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good" + } + } } - ], - "meta": { - "id": "AttributesofagoodStoreofValue", - "title": "Attributes of a good Store of Value" } -} +] diff --git a/chapter-202-attributes-of-a-good-store-of-value/202-es-combined.json b/chapter-202-attributes-of-a-good-store-of-value/202-es-combined.json deleted file mode 100644 index ad64184..0000000 --- a/chapter-202-attributes-of-a-good-store-of-value/202-es-combined.json +++ /dev/null @@ -1,161 +0,0 @@ -{ - "content": [ - { - "answers": [ - "Durabilidad, portabilidad, intercambiabilidad, verificabilidad, divisibilidad, escasez, larga historia y resistencia a la censura.", - "Sabor, ternura, suavidad y capacidad de Instagram.", - "Rareza, belleza y valor sentimental." - ], - "feedback": [ - "\u00a1S\u00ed! Una buena reserva de valor debe tener atributos como durabilidad, portabilidad, intercambiabilidad, verificabilidad, divisibilidad, escasez, una larga historia y resistencia a la censura. Estas caracter\u00edsticas facilitan su uso como medio de intercambio y dep\u00f3sito de valor, y aumentan su demanda con el tiempo.", - "Lo siento, esa no es la respuesta correcta. Si bien el sabor, la ternura, la suavidad y la capacidad de Instagram pueden ser cualidades deseables en otros contextos, normalmente no se consideran atributos importantes para una reserva de valor.", - "Me temo que esa no es la respuesta correcta. Si bien la rareza, la belleza y el valor sentimental pueden hacer que un art\u00edculo sea valioso para un individuo en particular, normalmente no se consideran atributos importantes para una reserva de valor que sea ampliamente aceptada y utilizada como medio de intercambio." - ], - "id": "qu\u00e9 es bueno SOV", - "question": "\u00bfCu\u00e1les son algunos de los atributos que constituyen una buena reserva de valor?", - "text": "Cuando las reservas de valor compiten entre s\u00ed, los atributos que componen una buena reserva de valor le permiten superar a sus competidores y aumentar la demanda con el tiempo.\n\nMuchos bienes se han utilizado como dep\u00f3sitos de valor, pero ciertos atributos son particularmente deseables y permiten que estos bienes tengan m\u00e1s \u00e9xito.\n\nUna reserva de valor ideal deber\u00eda ser duradera, port\u00e1til, intercambiable, verificable, divisible, escasa, tener una larga historia y resistente a la censura.\n", - "title": "Algunas reservas de valor son mejores que otras", - "type": "Texto" - }, - { - "answers": [ - "La red que asegura la moneda", - "La manifestaci\u00f3n f\u00edsica de la moneda.", - "La instituci\u00f3n que emite la moneda." - ], - "feedback": [ - "Lo hiciste bien. La red que protege la moneda es un factor importante para determinar su durabilidad, especialmente en el caso de monedas digitales como bitcoin. \u00bfSab\u00edas que bitcoin ha mostrado un alto nivel de \"antifragilidad\" a pesar de los intentos de regularlo y los ataques de los piratas inform\u00e1ticos? Esto es bastante impresionante para una moneda que a\u00fan se encuentra en sus primeras etapas.", - "\u00a1No, lo siento! En realidad, la manifestaci\u00f3n f\u00edsica de la moneda no es tan importante como la instituci\u00f3n que la emite o la red que la protege. Pero no te preocupes, no eres el \u00fanico que comete este error. Incluso los antiguos griegos sol\u00edan acu\u00f1ar sus monedas con materiales perecederos como el bronce y el cobre.", - "\u00a1Cerca, pero no del todo! La instituci\u00f3n que emite la moneda es en realidad un factor importante para determinar su durabilidad. Pero bueno, al menos no est\u00e1s solo en este error. Ha habido muchos gobiernos y monedas que han ido y venido a lo largo de los siglos." - ], - "id": "durabilidad", - "question": "\u00bfCu\u00e1l de los siguientes es un factor importante para determinar la durabilidad de una buena reserva de valor?", - "text": "El bien utilizado como dinero no debe ser perecedero ni destruirse f\u00e1cilmente. El oro es conocido por su durabilidad y, a menudo, se le considera el \"rey\" en este sentido.\n\nUna gran parte del oro que alguna vez se ha extra\u00eddo o acu\u00f1ado, incluido el oro de los faraones, todav\u00eda existe hoy y es probable que permanezca disponible durante muchos a\u00f1os m\u00e1s. Las monedas de oro que se utilizaban como dinero en la antig\u00fcedad todav\u00eda tienen un valor significativo en la actualidad.\n\nLas monedas fiduciarias y los bitcoins son registros digitales que pueden adoptar forma f\u00edsica, como los billetes de papel. Sin embargo, no es la manifestaci\u00f3n f\u00edsica de estas monedas lo que debe considerarse para su durabilidad, sino la durabilidad de la instituci\u00f3n que las emite.\n\nMuchos gobiernos y sus monedas han ido y venido a lo largo de los siglos, mientras que otros, como el d\u00f3lar estadounidense y la libra esterlina, han sobrevivido durante un per\u00edodo de tiempo m\u00e1s largo. Los bitcoins no tienen autoridad de emisi\u00f3n, por lo que su durabilidad depende de la red que los protege. Si bien todav\u00eda es pronto para sacar conclusiones s\u00f3lidas sobre la durabilidad de los bitcoins, hay indicios de que la red ha mostrado un alto nivel de \"antifragilidad\" a pesar de los intentos de regularla y de los ataques de los piratas inform\u00e1ticos.\n", - "title": "La durabilidad es un atributo importante para una buena reserva de valor.", - "type": "Texto" - }, - { - "answers": [ - "Su forma fisica", - "Su capacidad para ser transportado y almacenado f\u00e1cilmente.", - "Su capacidad para facilitar el comercio a larga distancia." - ], - "feedback": [ - "Lo hiciste bien. La forma f\u00edsica del bien no es un factor que lo haga port\u00e1til. De hecho, las monedas digitales como bitcoin son las reservas de valor m\u00e1s port\u00e1tiles porque pueden almacenarse f\u00e1cilmente en un dispositivo peque\u00f1o y transmitirse r\u00e1pidamente a largas distancias. \u00bfSab\u00edas que las claves privadas que representan cientos de millones de d\u00f3lares pueden almacenarse en una peque\u00f1a unidad USB y transportarse f\u00e1cilmente a cualquier parte con bitcoin? Eso es bastante impresionante", - "Lo siento, \u00a1eso es incorrecto! La capacidad de ser transportado y almacenado f\u00e1cilmente es en realidad un factor importante que hace que una buena reserva de valor sea port\u00e1til. Pero no te preocupes, es un error com\u00fan. Despu\u00e9s de todo, \u00bfqui\u00e9n no querr\u00eda llevar consigo una vaca como reserva de valor? Al menos ser\u00eda un inicio de conversaci\u00f3n bastante impresionante.", - "\u00a1Ups, esa no es la respuesta correcta! La capacidad de facilitar el comercio a larga distancia es en realidad un factor importante que hace que una buena reserva de valor sea port\u00e1til. Pero bueno, al menos no est\u00e1s solo en este error. Es f\u00e1cil ver c\u00f3mo alguien podr\u00eda pensar que las vacas son la perfecta reserva port\u00e1til de valor, dada su capacidad para producir leche y carne." - ], - "id": "portabilidad", - "question": "\u00bfCu\u00e1l de los siguientes NO es un factor que hace que una buena reserva de valor sea port\u00e1til?", - "text": "\n\"Portabilidad\" se refiere a lo f\u00e1cil que es mover o transportar una mercanc\u00eda de un lugar a otro.\n\nLos bitcoins son muy port\u00e1tiles, lo que permite un f\u00e1cil almacenamiento en una peque\u00f1a unidad USB y una r\u00e1pida transmisi\u00f3n a largas distancias. De manera similar, las monedas fiduciarias tambi\u00e9n son digitales y, por lo tanto, port\u00e1tiles, pero las regulaciones gubernamentales y los controles de capital pueden dificultar o imposibilitar grandes transferencias de valor.\n\nPor otro lado, el oro, al tener una forma f\u00edsica y ser muy denso, es el dep\u00f3sito de valor menos port\u00e1til: la mayor\u00eda de los lingotes nunca se transportan y la transferencia de oro f\u00edsico es costosa, arriesgada y requiere mucho tiempo.\n", - "title": "El bien debe ser f\u00e1cil de transportar y almacenar.", - "type": "Texto" - }, - { - "answers": [ - "La forma y calidad de los diamantes son irregulares.", - "El oro es m\u00e1s valioso que los diamantes.", - "El oro es m\u00e1s abundante que los diamantes." - ], - "feedback": [ - "\u00a1Exactamente**!** La forma irregular y la calidad de los diamantes los hace menos intercambiables que el oro, por lo que el oro se considera m\u00e1s fungible. \u00bfSab\u00edas tambi\u00e9n que bitcoin se considera fungible a nivel de red, pero su trazabilidad en la cadena de bloques a veces puede llevar a que los comerciantes o las bolsas lo traten como no fungible?", - "\u00a1Respuesta incorrecta! El oro puede ser m\u00e1s valioso que los diamantes, pero esa no es la raz\u00f3n principal por la que se considera m\u00e1s fungible. Parece que necesitas repasar tus conocimientos sobre fungibilidad", - "\u00a1No, lo siento! Si bien el oro puede ser m\u00e1s abundante que los diamantes, esa no es la raz\u00f3n principal por la que se considera m\u00e1s fungible. \u00a1Mejor suerte la pr\u00f3xima vez!" - ], - "id": "fungibilidad", - "question": "\u00bfCu\u00e1l es la raz\u00f3n principal por la que el oro se considera m\u00e1s fungible que los diamantes?", - "text": "\n\"Fungibilidad\" significa que una unidad de una moneda es intercambiable con otra unidad de la misma moneda. Este es un atributo importante para una buena reserva de valor.\n\nEl oro es una reserva de valor altamente fungible, ya que cuando se funde, una onza de oro es esencialmente indistinguible de cualquier otra. Las monedas fiduciarias, por otro lado, pueden no ser siempre completamente fungibles, ya que sus instituciones emisoras pueden tratar las diferentes denominaciones de manera diferente.\n\nAl igual que el oro, las unidades de bitcoin son fungibles, pero tienen algunos matices. Profundizaremos en esto en un cap\u00edtulo posterior.\n", - "title": "Un esp\u00e9cimen debe ser intercambiable con otro de igual cantidad.", - "type": "Texto" - }, - { - "answers": [ - "Mediante el uso de firmas criptogr\u00e1ficas", - "Comprobando si hay tungsteno chapado en oro.", - "Comprobando las caracter\u00edsticas de los billetes para evitar la falsificaci\u00f3n" - ], - "feedback": [ - "\u00a1Felicidades! Est\u00e1s en lo correcto. Bitcoin se puede verificar con certeza matem\u00e1tica mediante firmas criptogr\u00e1ficas", - "Lo siento, pero eso no est\u00e1 del todo bien. Mejor suerte la pr\u00f3xima vez", - "\u00a1Equivocado! Bitcoin es puramente digital y no utiliza billetes. \u00a1Intentar otra vez!" - ], - "id": "verificabilidad", - "question": "\u00bfC\u00f3mo se puede verificar bitcoin?", - "text": "Es importante que una buena reserva de valor sea f\u00e1cilmente verificable como aut\u00e9ntica. Esto aumenta la confianza en el comercio y la probabilidad de que se complete una transacci\u00f3n.\n\nTanto las monedas fiduciarias como el oro son generalmente f\u00e1ciles de verificar, pero no son infalibles. En el pasado se han utilizado billetes falsos y tungsteno chapado en oro para enga\u00f1ar a la gente.\n\nPor otro lado, el uso de la criptograf\u00eda hace que la verificaci\u00f3n de bitcoin sea muy sencilla y hace imposible la falsificaci\u00f3n.\n", - "title": "El bien debe ser f\u00e1cil de identificar y verificar r\u00e1pidamente como aut\u00e9ntico.", - "type": "Texto" - }, - { - "answers": [ - "Oro", - "bitc\u00f3in", - "moneda fiduciaria" - ], - "feedback": [ - "Est\u00e1s en lo correcto. El oro es dif\u00edcil de dividir en peque\u00f1as cantidades para el comercio diario. \u00bfSab\u00edas que el oro se ha utilizado como dep\u00f3sito de valor durante miles de a\u00f1os debido a su rareza y durabilidad?", - "Lo siento, pero eso no est\u00e1 del todo bien. Bitcoin es altamente divisible en su unidad base 'satoshi', e incluso se puede dividir en mili-satoshis (1\/1000 de satoshi) en Lightning Network.", - "No**.** Si bien las monedas fiduciarias no son tan divisibles como bitcoin, son f\u00e1cilmente divisibles en denominaciones m\u00e1s peque\u00f1as." - ], - "id": "divisibilidad", - "question": "\u00bfCu\u00e1l de los siguientes NO es una buena reserva de valor debido a su dificultad para dividirse f\u00e1cilmente para el comercio diario?", - "text": "La capacidad de dividir un bien es un atributo importante para que sea una buena reserva de valor.\n\nImagina que tienes un billete de 100 d\u00f3lares y quieres comprar un paquete de chicle que cuesta 10 centavos. El \u00e9xito de la operaci\u00f3n depende de que el vendedor tenga $99,90 de cambio disponibles en ese momento.\n\nEn sociedades donde prevalece el comercio, la capacidad de dividir un bien en cantidades m\u00e1s peque\u00f1as permite un intercambio m\u00e1s preciso y puede facilitar su uso en las transacciones diarias.\n\nBitcoin es particularmente \u00fatil en este sentido, ya que puede dividirse hasta una cienmillon\u00e9sima parte de una unidad y transmitirse en cantidades peque\u00f1as y exactas.\n\nLas monedas fiduciarias suelen ser divisibles hasta el cambio de bolsillo, que tiene poco poder adquisitivo, lo que hace que las monedas fiduciarias sean bastante divisibles en la pr\u00e1ctica.\n\nEl oro, aunque f\u00edsicamente divisible, puede resultar dif\u00edcil de utilizar en peque\u00f1as cantidades para el comercio diario.\n", - "title": "El bien debe ser f\u00e1cil de subdividir.", - "type": "Texto" - }, - { - "answers": [ - "Escasez", - "Abundancia", - "Facilidad de producci\u00f3n" - ], - "feedback": [ - "\u00a1Felicidades! Est\u00e1s en lo correcto. \u00bfSab\u00edas que solo habr\u00e1 un m\u00e1ximo de 21 millones de bitcoins en circulaci\u00f3n, lo que lo convierte en un activo escaso y valioso?", - "Lo sentimos, pero la abundancia no es el atributo m\u00e1s importante de una reserva de valor. Mejor suerte la pr\u00f3xima vez", - "Lo sentimos, pero la facilidad de producci\u00f3n no es el atributo m\u00e1s importante de una reserva de valor. \u00a1Mejor suerte la pr\u00f3xima vez!" - ], - "id": "escaso", - "question": "\u00bfCu\u00e1l es el atributo m\u00e1s importante de una reserva de valor?", - "text": "Una buena reserva de valor debe tener una oferta limitada o ser escasa.\n\nEsto se debe a que la escasez puede crear valor, ya que la gente suele desear art\u00edculos raros o dif\u00edciles de conseguir. Bitcoin, por ejemplo, est\u00e1 dise\u00f1ado para tener un m\u00e1ximo de 21 millones de unidades, lo que le da a cada propietario un porcentaje conocido del suministro total posible.\n\nPor el contrario, la oferta de oro puede aumentar potencialmente mediante nuevos m\u00e9todos de extracci\u00f3n, y las monedas fiduciarias suelen ser propensas a la inflaci\u00f3n, lo que lleva a una disminuci\u00f3n de su valor con el tiempo.\n", - "title": "Un bien monetario debe escasear", - "type": "Texto" - }, - { - "answers": [ - "El reci\u00e9n llegado tiene una ventaja significativa sobre el bien establecido.", - "El bien establecido tiene una historia m\u00e1s larga de ser valorado por la sociedad.", - "La nueva llegada es m\u00e1s barata de producir." - ], - "feedback": [ - "Est\u00e1s en lo correcto. Es menos probable que un dep\u00f3sito de valor establecido desde hace mucho tiempo sea desplazado por un nuevo producto, a menos que \u00e9ste tenga una ventaja significativa sobre el bien establecido.", - "Lo sentimos, pero esta es en realidad la raz\u00f3n por la que es menos probable que una reserva de valor establecida desde hace mucho tiempo sea desplazada. Mejor suerte la pr\u00f3xima vez", - "No, mal. \u00bfNo prestaste atenci\u00f3n en la lecci\u00f3n anterior sobre la escasez?" - ], - "id": "establecidoHistoria", - "question": "\u00bfCu\u00e1l es la raz\u00f3n principal por la que una reserva de valor establecida desde hace mucho tiempo podr\u00eda ser desplazada por una nueva llegada?", - "text": "Esto se debe a que es menos probable que un dep\u00f3sito de valor bien establecido sea desplazado por un reci\u00e9n llegado, a menos que tenga una ventaja significativa sobre el bien establecido.\n\nAdem\u00e1s, las personas son criaturas de h\u00e1bitos y seguir\u00e1n utilizando lo que ya saben.\n\nEl oro, por ejemplo, tiene una larga historia de valoraci\u00f3n y ha mantenido su valor a lo largo del tiempo. Por el contrario, las monedas fiduciarias, que son una invenci\u00f3n relativamente reciente, tienden a perder valor con el tiempo debido a la inflaci\u00f3n.\n\nBitcoin, aunque lleva poco tiempo en el mercado, ha demostrado resistencia en el mercado y es probable que siga valor\u00e1ndose.\n", - "title": "Una historia establecida de ser valorado por la sociedad.", - "type": "Texto" - }, - { - "answers": [ - "Su red descentralizada de igual a igual", - "Su naturaleza fisica", - "Su regulaci\u00f3n por estados" - ], - "feedback": [ - "Est\u00e1s en lo correcto. La red descentralizada de igual a igual de Bitcoin permite que se realicen transacciones sin permiso, lo que la convierte en un bien resistente a la censura.", - "No. De hecho, los bienes f\u00edsicos a menudo requieren permiso para cruzar fronteras y pueden ser confiscados f\u00e1cilmente. Mejor suerte la pr\u00f3xima vez", - "Lo siento, pero en realidad es todo lo contrario. El sistema bancario fiduciario, que est\u00e1 regulado por los estados, requiere intervenci\u00f3n humana para informar e impedir ciertos usos de bienes monetarios, lo que lo hace propenso a la censura. \u00a1Intentar otra vez!" - ], - "id": "censuraResistencia", - "question": "\u00bfCu\u00e1l de las siguientes NO es una raz\u00f3n por la que Bitcoin se considera un bien resistente a la censura?", - "text": "La resistencia a la censura es un atributo que se ha vuelto cada vez m\u00e1s importante en la era digital, ya que se refiere a la dificultad que tienen partes externas, como corporaciones o gobiernos, para impedir que un individuo utilice un bien en particular.\n\nEste atributo es particularmente valioso para las personas que viven bajo reg\u00edmenes que imponen controles de capital o proh\u00edben ciertas formas de comercio. A menudo se cita a Bitcoin como un bien resistente a la censura debido a su red descentralizada de igual a igual, que permite realizar transacciones sin intervenci\u00f3n o permiso humano.\n\nPor el contrario, el sistema bancario fiduciario est\u00e1 regulado por los estados y requiere intervenci\u00f3n humana para informar e impedir ciertos usos de bienes monetarios, como los controles de capital.\n\nEl oro, aunque no es emitido por los estados, puede ser dif\u00edcil de transmitir a distancia y, por lo tanto, est\u00e1 m\u00e1s sujeto a la regulaci\u00f3n estatal.\n", - "title": "No se requiere permiso", - "type": "Texto" - } - ], - "meta": { - "id": "Atributos de un buen almac\u00e9n de valor", - "title": "Atributos de una buena reserva de valor" - } -} \ No newline at end of file diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.01-lesson-what-is-good-sov.json b/chapter-202-attributes-of-a-good-store-of-value/202.01-lesson-what-is-good-sov.json index a25d712..dc33711 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.01-lesson-what-is-good-sov.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.01-lesson-what-is-good-sov.json @@ -1,17 +1,22 @@ { - "answers": [ - "Durability, portability, interchangeability, verifiability, divisibility, scarcity, long history, and resistance to censorship", - "Tastiness, cuteness, softness, and Instagram-ability", - "Rarity, beauty, and sentimental value" - ], - "feedback": [ - "Yes! A good store of value should have attributes such as durability, portability, interchangeability, verifiability, divisibility, scarcity, a long history, and resistance to censorship. These characteristics make it easier to use as a medium of exchange and store of value, and increase its demand over time", - "Sorry, that is not the correct answer. While tastiness, cuteness, softness, and Instagram-ability may be desirable qualities in other contexts, they are not typically considered important attributes for a store of value", - "I'm afraid that is not the correct answer. While rarity, beauty, and sentimental value may make an item valuable to a particular individual, they are not typically considered important attributes for a store of value that is widely accepted and used as a medium of exchange." - ], - "id": "whatIsGoodSOV", - "question": "What are some attributes that make a good store of value", - "text": "When stores of value compete with each other, the attributes that make a good store of value allow it to outperform its competitors and increase demand over time.\n\nMany goods have been used as stores of value but certain attributes are particularly desirable and allow these goods to be more successful.\n\nAn ideal store of value should be durable, portable, interchangeable, verifiable, divisible, scarce, have a long history, and resistant to censorship.\n", - "title": "Some stores of value are better than others", - "type": "Text" + "whatIsGoodSOV": { + "title": "Some stores of value are better than others", + "questions": { + "whatIsGoodSOV": { + "answers": [ + "Durability, portability, interchangeability, verifiability, divisibility, scarcity, long history, and resistance to censorship", + "Tastiness, cuteness, softness, and Instagram-ability", + "Rarity, beauty, and sentimental value" + ], + "feedback": [ + "Yes! A good store of value should have attributes such as durability, portability, interchangeability, verifiability, divisibility, scarcity, a long history, and resistance to censorship. These characteristics make it easier to use as a medium of exchange and store of value, and increase its demand over time", + "Sorry, that is not the correct answer. While tastiness, cuteness, softness, and Instagram-ability may be desirable qualities in other contexts, they are not typically considered important attributes for a store of value", + "I'm afraid that is not the correct answer. While rarity, beauty, and sentimental value may make an item valuable to a particular individual, they are not typically considered important attributes for a store of value that is widely accepted and used as a medium of exchange." + ], + "question": "What are some attributes that make a good store of value", + "text": "When stores of value compete with each other, the attributes that make a good store of value allow it to outperform its competitors and increase demand over time.\n\nMany goods have been used as stores of value but certain attributes are particularly desirable and allow these goods to be more successful.\n\nAn ideal store of value should be durable, portable, interchangeable, verifiable, divisible, scarce, have a long history, and resistant to censorship.\n", + "title": "What are some attributes that make a good store of value" + } + } + } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.02-lesson-durability.json b/chapter-202-attributes-of-a-good-store-of-value/202.02-lesson-durability.json index 5249974..7ceeabe 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.02-lesson-durability.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.02-lesson-durability.json @@ -1,17 +1,22 @@ { - "answers": [ - "The network that secures the currency", - "The physical manifestation of the currency", - "The institution that issues the currency" - ], - "feedback": [ - "You got it right. The network that secures the currency is an important factor in determining its durability, especially for digital currencies like bitcoin. Did you know that bitcoin has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers? That's quite impressive for a currency that's still in its early stages", - "Nope, sorry! The physical manifestation of the currency is actually not as important as the institution that issues it or the network that secures it. Don't worry though, you're not alone in making this mistake. Even the Ancient Greeks used to mint their coins out of perishable materials like bronze and copper", - "Close, but not quite! The institution that issues the currency is actually an important factor in determining its durability. But hey, at least you're not alone in this mistake. There have been many governments and currencies that have come and gone over the centuries." - ], - "id": "durability", - "question": "Which of the following is an important factor in determining the durability of a good store of value", - "text": "The good used as money should not be perishable or easily destroyed. Gold is known for its durability and is often considered the \"king\" in this regard.\n\nA large portion of the gold that has ever been mined or minted, including the gold of the Pharaohs, still exists today and is likely to remain available for many more years. Gold coins that were used as money in ancient times still hold significant value today.\n\nFiat currencies and bitcoins are digital records that may take physical form, such as paper bills. However, it is not the physical manifestation of these currencies that should be considered for their durability, but rather the durability of the institution that issues them.\n\nMany governments and their currencies have come and gone over the centuries, while others, such as the US dollar and British pound, have survived for a longer period of time. Bitcoins have no issuing authority, so their durability depends on the network that secures them. While it is still early to draw strong conclusions about the durability of bitcoins, there are signs that the network has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers.\n", - "title": "Durability is an important attribute for a good store of value", - "type": "Text" + "durability": { + "title": "Durability is an important attribute for a good store of value", + "questions": { + "durability": { + "answers": [ + "The network that secures the currency", + "The physical manifestation of the currency", + "The institution that issues the currency" + ], + "feedback": [ + "You got it right. The network that secures the currency is an important factor in determining its durability, especially for digital currencies like bitcoin. Did you know that bitcoin has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers? That's quite impressive for a currency that's still in its early stages", + "Nope, sorry! The physical manifestation of the currency is actually not as important as the institution that issues it or the network that secures it. Don't worry though, you're not alone in making this mistake. Even the Ancient Greeks used to mint their coins out of perishable materials like bronze and copper", + "Close, but not quite! The institution that issues the currency is actually an important factor in determining its durability. But hey, at least you're not alone in this mistake. There have been many governments and currencies that have come and gone over the centuries." + ], + "question": "Which of the following is an important factor in determining the durability of a good store of value", + "text": "The good used as money should not be perishable or easily destroyed. Gold is known for its durability and is often considered the \"king\" in this regard.\n\nA large portion of the gold that has ever been mined or minted, including the gold of the Pharaohs, still exists today and is likely to remain available for many more years. Gold coins that were used as money in ancient times still hold significant value today.\n\nFiat currencies and bitcoins are digital records that may take physical form, such as paper bills. However, it is not the physical manifestation of these currencies that should be considered for their durability, but rather the durability of the institution that issues them.\n\nMany governments and their currencies have come and gone over the centuries, while others, such as the US dollar and British pound, have survived for a longer period of time. Bitcoins have no issuing authority, so their durability depends on the network that secures them. While it is still early to draw strong conclusions about the durability of bitcoins, there are signs that the network has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers.\n", + "title": "Which of the following is an important factor in determining the durability of a good store of value" + } + } + } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.03-lesson-portability.json b/chapter-202-attributes-of-a-good-store-of-value/202.03-lesson-portability.json index e246a88..e8c4cca 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.03-lesson-portability.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.03-lesson-portability.json @@ -1,17 +1,22 @@ { - "answers": [ - "Its physical form", - "Its ability to be easily transported and stored", - "Its ability to facilitate long-distance trade" - ], - "feedback": [ - "You got it right. The physical form of the good is not a factor that makes it portable. In fact, digital currencies like bitcoin are the most portable stores of value because they can be easily stored on a small device and transmitted quickly across long distances. Did you know that private keys representing hundreds of millions of dollars can be stored on a tiny USB drive and easily carried anywhere with bitcoin? That's pretty impressive", - "Sorry, that's incorrect! The ability to be easily transported and stored is actually an important factor that makes a good store of value portable. But don't worry, it's a common mistake. After all, who wouldn't want to carry around a cow as a store of value? It would make for a pretty impressive conversation starter at least", - "Oops, that's not the right answer! The ability to facilitate long-distance trade is actually an important factor that makes a good store of value portable. But hey, at least you're not alone in this mistake. It's easy to see how someone might think that cows are the perfect portable store of value, given their ability to produce milk and beef." - ], - "id": "portability", - "question": "Which of the following is NOT a factor that makes a good store of value portable", - "text": "\n\"Portability\" refers to how easy it is to move or transport a good from one place to another.\n\nBitcoins are highly portable, allowing for easy storage on a small USB drive and quick transmission across long distances. Similarly, fiat currencies are also digital and therefore portable, but government regulations and capital controls can make large transfers of value difficult or impossible.\n\nOn the other hand, gold, being physical in form and very dense, is the least portable store of value, with the majority of bullion never being transported and the transfer of physical gold being costly, risky, and time-consuming.\n", - "title": "The good must be easy to transport and store", - "type": "Text" + "portability": { + "title": "The good must be easy to transport and store", + "questions": { + "portability": { + "answers": [ + "Its physical form", + "Its ability to be easily transported and stored", + "Its ability to facilitate long-distance trade" + ], + "feedback": [ + "You got it right. The physical form of the good is not a factor that makes it portable. In fact, digital currencies like bitcoin are the most portable stores of value because they can be easily stored on a small device and transmitted quickly across long distances. Did you know that private keys representing hundreds of millions of dollars can be stored on a tiny USB drive and easily carried anywhere with bitcoin? That's pretty impressive", + "Sorry, that's incorrect! The ability to be easily transported and stored is actually an important factor that makes a good store of value portable. But don't worry, it's a common mistake. After all, who wouldn't want to carry around a cow as a store of value? It would make for a pretty impressive conversation starter at least", + "Oops, that's not the right answer! The ability to facilitate long-distance trade is actually an important factor that makes a good store of value portable. But hey, at least you're not alone in this mistake. It's easy to see how someone might think that cows are the perfect portable store of value, given their ability to produce milk and beef." + ], + "question": "Which of the following is NOT a factor that makes a good store of value portable", + "text": "\n\"Portability\" refers to how easy it is to move or transport a good from one place to another.\n\nBitcoins are highly portable, allowing for easy storage on a small USB drive and quick transmission across long distances. Similarly, fiat currencies are also digital and therefore portable, but government regulations and capital controls can make large transfers of value difficult or impossible.\n\nOn the other hand, gold, being physical in form and very dense, is the least portable store of value, with the majority of bullion never being transported and the transfer of physical gold being costly, risky, and time-consuming.\n", + "title": "Which of the following is NOT a factor that makes a good store of value portable" + } + } + } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.04-lesson-fungibility.json b/chapter-202-attributes-of-a-good-store-of-value/202.04-lesson-fungibility.json index 80d7c6e..7a89861 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.04-lesson-fungibility.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.04-lesson-fungibility.json @@ -1,17 +1,22 @@ { - "answers": [ - "The shape and quality of diamonds are irregular", - "Gold is more valuable than diamonds", - "Gold is more abundant than diamonds" - ], - "feedback": [ - "Exactly**!** The irregular shape and quality of diamonds makes them less interchangeable than gold, which is why gold is considered more fungible. Did you also know that bitcoin is considered fungible at the network level, but its traceability on the blockchain can sometimes lead to it being treated as non-fungible by merchants or exchanges", - "Wrong answer! Gold may be more valuable than diamonds, but that's not the main reason it's considered more fungible. Looks like you need to brush up on your fungibility knowledge", - "Nope, sorry! While gold may be more abundant than diamonds, that's not the main reason it's considered more fungible. Better luck next time!" - ], - "id": "fungibility", - "question": "What is the main reason that gold is considered more fungible than diamonds", - "text": "\n\"Fungibility\" means that one unit of a currency is interchangeable with another unit of the same currency. This is an important attribute for a good store of value.\n\nGold is a highly fungible store of value, as when melted down, an ounce of gold is essentially indistinguishable from any other. Fiat currencies, on the other hand, may not always be completely fungible, as their issuing institutions may treat different denominations differently.\n\nLike gold, units of bitcoin are fungible, but there are some nuances to it. We'll dive into this in a later chapter.\n", - "title": "One specimen should be interchangeable with another of equal quantity", - "type": "Text" + "fungibility": { + "title": "One specimen should be interchangeable with another of equal quantity", + "questions": { + "fungibility": { + "answers": [ + "The shape and quality of diamonds are irregular", + "Gold is more valuable than diamonds", + "Gold is more abundant than diamonds" + ], + "feedback": [ + "Exactly**!** The irregular shape and quality of diamonds makes them less interchangeable than gold, which is why gold is considered more fungible. Did you also know that bitcoin is considered fungible at the network level, but its traceability on the blockchain can sometimes lead to it being treated as non-fungible by merchants or exchanges", + "Wrong answer! Gold may be more valuable than diamonds, but that's not the main reason it's considered more fungible. Looks like you need to brush up on your fungibility knowledge", + "Nope, sorry! While gold may be more abundant than diamonds, that's not the main reason it's considered more fungible. Better luck next time!" + ], + "question": "What is the main reason that gold is considered more fungible than diamonds", + "text": "\n\"Fungibility\" means that one unit of a currency is interchangeable with another unit of the same currency. This is an important attribute for a good store of value.\n\nGold is a highly fungible store of value, as when melted down, an ounce of gold is essentially indistinguishable from any other. Fiat currencies, on the other hand, may not always be completely fungible, as their issuing institutions may treat different denominations differently.\n\nLike gold, units of bitcoin are fungible, but there are some nuances to it. We'll dive into this in a later chapter.\n", + "title": "What is the main reason that gold is considered more fungible than diamonds" + } + } + } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.05-lesson-verifiability.json b/chapter-202-attributes-of-a-good-store-of-value/202.05-lesson-verifiability.json index d16dfd2..03314fd 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.05-lesson-verifiability.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.05-lesson-verifiability.json @@ -1,17 +1,22 @@ { - "answers": [ - "By using cryptographic signatures", - "By checking for gold-plated tungsten", - "By checking for features on banknotes to prevent counterfeiting" - ], - "feedback": [ - "Congratulations! You are correct. Bitcoin can be verified with mathematical certainty using cryptographic signatures", - "Sorry, but that's not quite right. Better luck next time", - "Wrong! Bitcoin is purely digital and doesn't utilize banknotes. Try again!" - ], - "id": "verifiability", - "question": "How can bitcoin be verified", - "text": "It is important for a good store of value to be easily verifiable as authentic. This increases confidence in trade and the likelihood that a transaction will be completed.\n\nBoth fiat currencies and gold are generally easy to verify, but they are not foolproof. Counterfeit bills and gold-plated tungsten have been used to deceive people in the past.\n\nOn the other hand, the use of cryptography makes verification very easy for bitcoin and makes counterfeiting impossible.\n", - "title": "The good must be easy to quickly identify and verify as authentic", - "type": "Text" + "verifiability": { + "title": "The good must be easy to quickly identify and verify as authentic", + "questions": { + "verifiability": { + "answers": [ + "By using cryptographic signatures", + "By checking for gold-plated tungsten", + "By checking for features on banknotes to prevent counterfeiting" + ], + "feedback": [ + "Congratulations! You are correct. Bitcoin can be verified with mathematical certainty using cryptographic signatures", + "Sorry, but that's not quite right. Better luck next time", + "Wrong! Bitcoin is purely digital and doesn't utilize banknotes. Try again!" + ], + "question": "How can bitcoin be verified", + "text": "It is important for a good store of value to be easily verifiable as authentic. This increases confidence in trade and the likelihood that a transaction will be completed.\n\nBoth fiat currencies and gold are generally easy to verify, but they are not foolproof. Counterfeit bills and gold-plated tungsten have been used to deceive people in the past.\n\nOn the other hand, the use of cryptography makes verification very easy for bitcoin and makes counterfeiting impossible.\n", + "title": "How can bitcoin be verified" + } + } + } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.06-lesson-divisibility.json b/chapter-202-attributes-of-a-good-store-of-value/202.06-lesson-divisibility.json index 7f70fae..9ec44c5 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.06-lesson-divisibility.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.06-lesson-divisibility.json @@ -1,17 +1,22 @@ { - "answers": [ - "Gold", - "Bitcoin", - "Fiat currency" - ], - "feedback": [ - "You are correct. Gold is difficult divide into small quantities for everyday trade. Did you know that gold has been used as a store of value for thousands of years due to its rarity and durability", - "Sorry, but that's not quite right. Bitcoin is highly divisible into its base unit 'satoshi', and it can even be divided into milli-satoshis (1/1000 of a satoshi) on the Lightning Network", - "Nope**.** While fiat currencies are not as divisible as bitcoin, they are easily divisible into smaller denominations." - ], - "id": "divisibility", - "question": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade", - "text": "The ability to divide a good is an important attribute for it to be a good store of value.\n\nImagine you have a $100 bill and want to buy a pack of chewing gum that costs 10 cents. The success of the trade depends on the seller having $99.90 in change available in that moment.\n\nIn societies where trade is prevalent, the ability to divide a good into smaller quantities allows for more precise exchange and can make it easier to use in day-to-day transactions.\n\nBitcoin is particularly useful in this regard, as it can be divided down to a hundred millionth of a unit and transmitted in tiny and exact amounts.\n\nFiat currencies are typically divisible down to pocket change, which has little purchasing power, making fiat divisible enough in practice.\n\nGold, while physically divisible, can be difficult to use in small quantities for everyday trade.\n", - "title": "The good must be easy to subdivide", - "type": "Text" + "divisibility": { + "title": "The good must be easy to subdivide", + "questions": { + "divisibility": { + "answers": [ + "Gold", + "Bitcoin", + "Fiat currency" + ], + "feedback": [ + "You are correct. Gold is difficult divide into small quantities for everyday trade. Did you know that gold has been used as a store of value for thousands of years due to its rarity and durability", + "Sorry, but that's not quite right. Bitcoin is highly divisible into its base unit 'satoshi', and it can even be divided into milli-satoshis (1/1000 of a satoshi) on the Lightning Network", + "Nope**.** While fiat currencies are not as divisible as bitcoin, they are easily divisible into smaller denominations." + ], + "question": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade", + "text": "The ability to divide a good is an important attribute for it to be a good store of value.\n\nImagine you have a $100 bill and want to buy a pack of chewing gum that costs 10 cents. The success of the trade depends on the seller having $99.90 in change available in that moment.\n\nIn societies where trade is prevalent, the ability to divide a good into smaller quantities allows for more precise exchange and can make it easier to use in day-to-day transactions.\n\nBitcoin is particularly useful in this regard, as it can be divided down to a hundred millionth of a unit and transmitted in tiny and exact amounts.\n\nFiat currencies are typically divisible down to pocket change, which has little purchasing power, making fiat divisible enough in practice.\n\nGold, while physically divisible, can be difficult to use in small quantities for everyday trade.\n", + "title": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade" + } + } + } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.07-lesson-scarce.json b/chapter-202-attributes-of-a-good-store-of-value/202.07-lesson-scarce.json index bc14c96..8d764f9 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.07-lesson-scarce.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.07-lesson-scarce.json @@ -1,17 +1,22 @@ { - "answers": [ - "Scarcity", - "Abundance", - "Ease of production" - ], - "feedback": [ - "Congratulations! You are correct. Did you know that there will only ever be a maximum of 21 million bitcoins in circulation, making it a scarce and valuable asset", - "Sorry, but abundance is not the most important attribute for a store of value. Better luck next time", - "Sorry, but ease of production is not the most important attribute for a store of value. Better luck next time!" - ], - "id": "scarce", - "question": "What is the most important attribute of a store of value", - "text": "A good store of value should have a limited supply, or be scarce.\n\nThis is because scarcity can create value, as people often desire rare or hard-to-obtain items. Bitcoin, for instance, is designed to have a maximum of 21 million units, which gives each owner a known percentage of the total possible supply.\n\nIn contrast, the supply of gold can potentially increase through new mining methods, and fiat currencies are often prone to inflation, leading to a decline in value over time.\n", - "title": "A monetary good must scarce", - "type": "Text" + "scarce": { + "title": "A monetary good must scarce", + "questions": { + "scarce": { + "answers": [ + "Scarcity", + "Abundance", + "Ease of production" + ], + "feedback": [ + "Congratulations! You are correct. Did you know that there will only ever be a maximum of 21 million bitcoins in circulation, making it a scarce and valuable asset", + "Sorry, but abundance is not the most important attribute for a store of value. Better luck next time", + "Sorry, but ease of production is not the most important attribute for a store of value. Better luck next time!" + ], + "question": "What is the most important attribute of a store of value", + "text": "A good store of value should have a limited supply, or be scarce.\n\nThis is because scarcity can create value, as people often desire rare or hard-to-obtain items. Bitcoin, for instance, is designed to have a maximum of 21 million units, which gives each owner a known percentage of the total possible supply.\n\nIn contrast, the supply of gold can potentially increase through new mining methods, and fiat currencies are often prone to inflation, leading to a decline in value over time.\n", + "title": "What is the most important attribute of a store of value" + } + } + } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.08-lesson-established-history.json b/chapter-202-attributes-of-a-good-store-of-value/202.08-lesson-established-history.json index c780447..09fd5b7 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.08-lesson-established-history.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.08-lesson-established-history.json @@ -1,17 +1,22 @@ { - "answers": [ - "The new arrival has a significant advantage over the established good", - "The established good has a longer history of being valued by society", - "The new arrival is cheaper to produce" - ], - "feedback": [ - "You are correct. A long-established store of value is less likely to be displaced by a new arrival unless the new arrival has a significant advantage over the established good", - "Sorry, but this is actually the reason that a long-established store of value is less likely to be displaced. Better luck next time", - "Nope, wrong. Did you not pay attention in the previous lesson on scarcity?" - ], - "id": "establishedHistory", - "question": "What is the main reason that a long-established store of value could be displaced by a new arrival", - "text": "This is because a well-established store of value is less likely to be displaced by a newcomer, unless it has a significant advantage over the established good.\n\nAdditionally, people are creatures of habit and will keep using what they already know.\n\nGold, for example, has a long history of being valued and has maintained its value over time. In contrast, fiat currencies, which are a relatively recent invention, have a tendency to lose value over time due to inflation.\n\nBitcoin, although it has only been around for a short time, has shown resilience in the market and is likely to continue to be valued.\n", - "title": "An established history of being valued by society", - "type": "Text" + "establishedHistory": { + "title": "An established history of being valued by society", + "questions": { + "establishedHistory": { + "answers": [ + "The new arrival has a significant advantage over the established good", + "The established good has a longer history of being valued by society", + "The new arrival is cheaper to produce" + ], + "feedback": [ + "You are correct. A long-established store of value is less likely to be displaced by a new arrival unless the new arrival has a significant advantage over the established good", + "Sorry, but this is actually the reason that a long-established store of value is less likely to be displaced. Better luck next time", + "Nope, wrong. Did you not pay attention in the previous lesson on scarcity?" + ], + "question": "What is the main reason that a long-established store of value could be displaced by a new arrival", + "text": "This is because a well-established store of value is less likely to be displaced by a newcomer, unless it has a significant advantage over the established good.\n\nAdditionally, people are creatures of habit and will keep using what they already know.\n\nGold, for example, has a long history of being valued and has maintained its value over time. In contrast, fiat currencies, which are a relatively recent invention, have a tendency to lose value over time due to inflation.\n\nBitcoin, although it has only been around for a short time, has shown resilience in the market and is likely to continue to be valued.\n", + "title": "What is the main reason that a long-established store of value could be displaced by a new arrival" + } + } + } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.09-lesson-censorship-resistance.json b/chapter-202-attributes-of-a-good-store-of-value/202.09-lesson-censorship-resistance.json index 200604f..9e209cb 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.09-lesson-censorship-resistance.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.09-lesson-censorship-resistance.json @@ -1,17 +1,22 @@ { - "answers": [ - "Its decentralized, peer-to-peer network", - "Its physical nature", - "Its regulation by states" - ], - "feedback": [ - "You are correct. The decentralized, peer-to-peer network of Bitcoin allows for transactions to be made without permission, making it a censorship-resistant good", - "No. In fact, physical goods often require permission to cross borders and can easily be confiscated. Better luck next time", - "Sorry, but the opposite is actually true. The fiat banking system, which is regulated by states, requires human intervention to report and prevent certain uses of monetary goods, making it prone to censorship. Try again!" - ], - "id": "censorshipResistance", - "question": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good", - "text": "Censorship-resistance is an attribute that has become increasingly important in the digital age, as it refers to the difficulty that external parties, such as corporations or governments, have in preventing an individual from using a particular good.\n\nThis attribute is particularly valuable for individuals living under regimes that enforce capital controls or prohibit certain forms of trade. Bitcoin is often cited as being a censorship-resistant good due to its decentralized, peer-to-peer network, which allows for transactions to be made without human intervention or permission.\n\nIn contrast, the fiat banking system is regulated by states and requires human intervention to report and prevent certain uses of monetary goods, such as capital controls.\n\nGold, although it is not issued by states, can be difficult to transmit at a distance and is therefore more subject to state regulation.\n", - "title": "No permission required", - "type": "Text" + "censorshipResistance": { + "title": "No permission required", + "questions": { + "censorshipResistance": { + "answers": [ + "Its decentralized, peer-to-peer network", + "Its physical nature", + "Its regulation by states" + ], + "feedback": [ + "You are correct. The decentralized, peer-to-peer network of Bitcoin allows for transactions to be made without permission, making it a censorship-resistant good", + "No. In fact, physical goods often require permission to cross borders and can easily be confiscated. Better luck next time", + "Sorry, but the opposite is actually true. The fiat banking system, which is regulated by states, requires human intervention to report and prevent certain uses of monetary goods, making it prone to censorship. Try again!" + ], + "question": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good", + "text": "Censorship-resistance is an attribute that has become increasingly important in the digital age, as it refers to the difficulty that external parties, such as corporations or governments, have in preventing an individual from using a particular good.\n\nThis attribute is particularly valuable for individuals living under regimes that enforce capital controls or prohibit certain forms of trade. Bitcoin is often cited as being a censorship-resistant good due to its decentralized, peer-to-peer network, which allows for transactions to be made without human intervention or permission.\n\nIn contrast, the fiat banking system is regulated by states and requires human intervention to report and prevent certain uses of monetary goods, such as capital controls.\n\nGold, although it is not issued by states, can be difficult to transmit at a distance and is therefore more subject to state regulation.\n", + "title": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good" + } + } + } } diff --git a/chapter-203-the-evolution-of-money-i/203-combined.json b/chapter-203-the-evolution-of-money-i/203-combined.json index e0763d4..bb7b8f9 100644 --- a/chapter-203-the-evolution-of-money-i/203-combined.json +++ b/chapter-203-the-evolution-of-money-i/203-combined.json @@ -1,127 +1,156 @@ -{ - "content": [ - { - "answers": [ - "The use of money as a way to exchange goods and services", - "The history of money's development", - "The exclusive power of governments to create money" - ], - "feedback": [ - "Congrats, you got it right! It's interesting to note that the use of money as a medium of exchange has become more important in modern times due to the rise of electronic payment methods", - "Wrong! But it's good that you're interested in the history of money. Try again", - "Sorry, that's incorrect. It's true that governments do have a lot of control over the creation and issuance of money, but that's not the main focus of modern monetary economics. Try again!" - ], - "id": "evolutionMoney", - "question": "What is the main focus of modern monetary economics", - "text": "In modern times, many people in the field of monetary economics focus on the idea that money is mainly used as a way to exchange goods and services.\n\nIn the past century, however, governments have had the exclusive power to create money and have often made it difficult for money to hold its value. This lead people to believe that the main purpose of money is to be used for exchange.\n\nSome have argued that Bitcoin is not a good form of money because its value tends to change too much to be used effectively in transactions.\n\nHowever, this way of thinking is backwards. Throughout history, the use of money has developed in stages, with its value as a store of value coming before its use as a medium of exchange.\n", +[ + { + "evolutionMoney": { "title": "The Evolution of Money", - "type": "Text" - }, - { - "answers": [ - "Coins made of copper and silver", - "Shells, beads, and gold", - "Paper bills with pictures of famous leaders" - ], - "feedback": [ - "Sorry, that's incorrect. Copper and silver coins were not used as money in the very beginning of its evolution", - "Congratulations, you got it right! It's interesting to note that shells, beads, and gold were all valued for their appearance or special qualities before becoming widely used as money", - "Wrong! But at least you're thinking about the more modern forms of money. Paper bills with pictures of famous leaders were not used in the very beginning of money's evolution." - ], - "id": "collectible", - "question": "What were some examples of early forms of money that were valued for their appearance or special qualities", - "text": "Throughout history, money has gone through four stages of development. In the very beginning, people only wanted money because of its special qualities, and it was mostly seen as a decorative item or a collectible.;\n\nExamples of this include shells, beads, and gold, which were all collectibles before becoming widely used as money.\n", + "questions": { + "evolutionMoney": { + "answers": [ + "The use of money as a way to exchange goods and services", + "The history of money's development", + "The exclusive power of governments to create money" + ], + "feedback": [ + "Congrats, you got it right! It's interesting to note that the use of money as a medium of exchange has become more important in modern times due to the rise of electronic payment methods", + "Wrong! But it's good that you're interested in the history of money. Try again", + "Sorry, that's incorrect. It's true that governments do have a lot of control over the creation and issuance of money, but that's not the main focus of modern monetary economics. Try again!" + ], + "question": "What is the main focus of modern monetary economics", + "text": "In modern times, many people in the field of monetary economics focus on the idea that money is mainly used as a way to exchange goods and services.\n\nIn the past century, however, governments have had the exclusive power to create money and have often made it difficult for money to hold its value. This lead people to believe that the main purpose of money is to be used for exchange.\n\nSome have argued that Bitcoin is not a good form of money because its value tends to change too much to be used effectively in transactions.\n\nHowever, this way of thinking is backwards. Throughout history, the use of money has developed in stages, with its value as a store of value coming before its use as a medium of exchange.\n", + "title": "What is the main focus of modern monetary economics" + } + } + } + }, + { + "collectible": { "title": "Four Stages of Money: Collectible", - "type": "Text" - }, - { - "answers": [ - "The number of people who want it as a store of value", - "The weather", - "The color of the store of value" - ], - "feedback": [ - "Nice work! The purchasing power of a store of value is determined by the number of people who want to use it as a way to store value. As more people want to use it for this purpose, the value of the store of value increases", - "Sorry, the weather is definitely a factor in many things, but it's not quite the right answer for this question. Maybe try looking at other factors that could affect the value of a store of value", - "I'm sorry to say that the color of a store of value probably doesn't have much of an effect on its purchasing power. It's definitely an interesting idea though! Maybe try considering other characteristics that could affect the value of a store of value." - ], - "id": "storeOfValue", - "question": "What determines the purchasing power of a store of value", - "text": "The store of value is the second stage of money's evolution. When enough people want money because of its special qualities, it becomes a way to keep and save value over time, to transport hard earned wealth into the future.\n\nAs more people recognize a good as a good way to store value, the good's value increases as more people want it for this purpose.\n\nEventually, the value of a store of value will stop increasing as it becomes widely held and fewer new people want it as a store of value.\n", + "questions": { + "collectible": { + "answers": [ + "Coins made of copper and silver", + "Shells, beads, and gold", + "Paper bills with pictures of famous leaders" + ], + "feedback": [ + "Sorry, that's incorrect. Copper and silver coins were not used as money in the very beginning of its evolution", + "Congratulations, you got it right! It's interesting to note that shells, beads, and gold were all valued for their appearance or special qualities before becoming widely used as money", + "Wrong! But at least you're thinking about the more modern forms of money. Paper bills with pictures of famous leaders were not used in the very beginning of money's evolution." + ], + "question": "What were some examples of early forms of money that were valued for their appearance or special qualities", + "text": "Throughout history, money has gone through four stages of development. In the very beginning, people only wanted money because of its special qualities, and it was mostly seen as a decorative item or a collectible.;\n\nExamples of this include shells, beads, and gold, which were all collectibles before becoming widely used as money.\n", + "title": "What were some examples of early forms of money that were valued for their appearance or special qualities" + } + } + } + }, + { + "storeOfValue": { "title": "Four Stages of Money: Store of Value", - "type": "Text" - }, - { - "answers": [ - "The first time bitcoin had market value", - "The invention of pineapple as a pizza topping", - "again" - ], - "feedback": [ - "You got it right. Bitcoin Pizza Day is celebrated to mark the first time that bitcoin had market value, which was when Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. It's an important event in the evolution of bitcoin", - "While pineapple is a beautiful fruit, it has no place on a real pizza! Apart from this side note, your answer is wrong. Try again", - "Sorry, the best pizza recipe is a matter of personal preference. While pizza is always delicious, it's not the focus of Bitcoin Pizza Day. Maybe try considering the significance of the event in the history of bitcoin." - ], - "id": "mediumOfExchange", - "question": "What is Bitcoin Pizza Day celebrated for", - "text": "When money is used to store value, its value becomes stable eventually. And when the value of money is stable, it becomes the best option to facilitate trade as it's easy to use and doesn't have the coordination burden of barter.\n\nIn the early days of Bitcoin in 2010, some people did not recognize the opportunity cost to use Bitcoin as a medium of exchange rather than a nascent store of value.\n\nThere is a famous story about Laszlo Hanyecz who traded 10,000 bitcoins (which were worth about $165 million at the time of this writing) for just two pizzas. When Laszlo acquired those pizzas, it marked the first time that bitcoin had market value.\n\nToday, Laszlo's pizza is celebrated globally on May 22 as Bitcoin Pizza Day as an important step and milestone in the evolution of bitcoin as money.\n", + "questions": { + "storeOfValue": { + "answers": [ + "The number of people who want it as a store of value", + "The weather", + "The color of the store of value" + ], + "feedback": [ + "Nice work! The purchasing power of a store of value is determined by the number of people who want to use it as a way to store value. As more people want to use it for this purpose, the value of the store of value increases", + "Sorry, the weather is definitely a factor in many things, but it's not quite the right answer for this question. Maybe try looking at other factors that could affect the value of a store of value", + "I'm sorry to say that the color of a store of value probably doesn't have much of an effect on its purchasing power. It's definitely an interesting idea though! Maybe try considering other characteristics that could affect the value of a store of value." + ], + "question": "What determines the purchasing power of a store of value", + "text": "The store of value is the second stage of money's evolution. When enough people want money because of its special qualities, it becomes a way to keep and save value over time, to transport hard earned wealth into the future.\n\nAs more people recognize a good as a good way to store value, the good's value increases as more people want it for this purpose.\n\nEventually, the value of a store of value will stop increasing as it becomes widely held and fewer new people want it as a store of value.\n", + "title": "What determines the purchasing power of a store of value" + } + } + } + }, + { + "mediumOfExchange": { "title": "Four Stages of Money: Medium of Exchange", - "type": "Text" - }, - { - "answers": [ - "When merchants are willing to accept it as payment without considering the exchange rate with other currencies", - "When it is used to buy ice cream", - "When it is used to play games with friends" - ], - "feedback": [ - "Congrats! For bitcoin to be considered a unit of account, it needs to be widely accepted as a form of payment without regard to its exchange rate with other currencies. This means that merchants would be willing to accept it as payment without considering the value of bitcoin in terms of other currencie", - "I'm sorry, but while ice cream is delicious, it's not quite the right answer. Maybe try considering other factors that could affect the acceptance of bitcoin as a unit of account", - "Playing games with friends is always fun, but unfortunately it's not the correct answer. Maybe try thinking about what it would take for bitcoin to be widely accepted as a form of payment.\"" - ], - "id": "unitOfAccount", - "question": "How can bitcoin be considered a unit of account", - "text": "When money is commonly used for trading, goods are priced in terms of it. This means that most goods can be exchanged for money at a certain rate.\n\nIt is not accurate to say that many goods can be bought with bitcoin today. For example, while a cup of coffee might be available for purchase using bitcoin, the price listed is not the true value of bitcoin. Instead, it is the dollar price that the merchant wants, converted into bitcoin based on the current exchange rate between dollars and bitcoin.\n\nIf the value of bitcoin goes down in terms of dollars, the merchant will ask for more bitcoin to equal the same dollar amount.\n\nBitcoin can only be considered a unit of account (a standard way to measure the value of goods) when merchants are willing to accept it for payment without considering the exchange rate with other currencies.\n", + "questions": { + "mediumOfExchange": { + "answers": [ + "The first time bitcoin had market value", + "The invention of pineapple as a pizza topping", + "again" + ], + "feedback": [ + "You got it right. Bitcoin Pizza Day is celebrated to mark the first time that bitcoin had market value, which was when Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. It's an important event in the evolution of bitcoin", + "While pineapple is a beautiful fruit, it has no place on a real pizza! Apart from this side note, your answer is wrong. Try again", + "Sorry, the best pizza recipe is a matter of personal preference. While pizza is always delicious, it's not the focus of Bitcoin Pizza Day. Maybe try considering the significance of the event in the history of bitcoin." + ], + "question": "What is Bitcoin Pizza Day celebrated for", + "text": "When money is used to store value, its value becomes stable eventually. And when the value of money is stable, it becomes the best option to facilitate trade as it's easy to use and doesn't have the coordination burden of barter.\n\nIn the early days of Bitcoin in 2010, some people did not recognize the opportunity cost to use Bitcoin as a medium of exchange rather than a nascent store of value.\n\nThere is a famous story about Laszlo Hanyecz who traded 10,000 bitcoins (which were worth about $165 million at the time of this writing) for just two pizzas. When Laszlo acquired those pizzas, it marked the first time that bitcoin had market value.\n\nToday, Laszlo's pizza is celebrated globally on May 22 as Bitcoin Pizza Day as an important step and milestone in the evolution of bitcoin as money.\n", + "title": "What is Bitcoin Pizza Day celebrated for" + } + } + } + }, + { + "unitOfAccount": { "title": "Four Stages of Money: Unit of Account", - "type": "Text" - }, - { - "answers": [ - "A good that is not yet widely used as a unit of account", - "A currency that is only accepted in certain countries", - "A good that is used as a medium of exchange but not for storing value or measuring the value of goods" - ], - "feedback": [ - "Congratulations! You've chosen the correct answer. A partly monetized good is one that is not yet widely accepted as a unit of account, which means it is not commonly used as a standard way to measure the value of other goods. This can include goods like gold, which is often used to store value but not typically used for everyday transactions", - "That's a creative answer, but unfortunately not quite right. Better luck next time", - "Not quite correct, but close! Keep thinking." - ], - "id": "partlyMonetized", - "question": "What is the meaning of the term \"partly monetized\"", - "text": "Goods that are not widely accepted as a unit of account may be considered \"partly monetized\" because they are used for some purposes related to money, but not all.\n\nGold is an example of a partly monetized good that is used to store value but is not widely used as a medium of exchange or unit of account. In some countries, different goods may be used for different purposes related to money, such as one good being used as a medium of exchange and another being used as a store of value or unit of account.\n\nThe dollar is an example of a good that is widely used for all three purposes of money in the United States, while the peso was an example of a good that was used as a medium of exchange in Argentina but was not a good store of value because of its volatility and regular loss of purchasing power.\n", + "questions": { + "unitOfAccount": { + "answers": [ + "When merchants are willing to accept it as payment without considering the exchange rate with other currencies", + "When it is used to buy ice cream", + "When it is used to play games with friends" + ], + "feedback": [ + "Congrats! For bitcoin to be considered a unit of account, it needs to be widely accepted as a form of payment without regard to its exchange rate with other currencies. This means that merchants would be willing to accept it as payment without considering the value of bitcoin in terms of other currencie", + "I'm sorry, but while ice cream is delicious, it's not quite the right answer. Maybe try considering other factors that could affect the acceptance of bitcoin as a unit of account", + "Playing games with friends is always fun, but unfortunately it's not the correct answer. Maybe try thinking about what it would take for bitcoin to be widely accepted as a form of payment.\"" + ], + "question": "How can bitcoin be considered a unit of account", + "text": "When money is commonly used for trading, goods are priced in terms of it. This means that most goods can be exchanged for money at a certain rate.\n\nIt is not accurate to say that many goods can be bought with bitcoin today. For example, while a cup of coffee might be available for purchase using bitcoin, the price listed is not the true value of bitcoin. Instead, it is the dollar price that the merchant wants, converted into bitcoin based on the current exchange rate between dollars and bitcoin.\n\nIf the value of bitcoin goes down in terms of dollars, the merchant will ask for more bitcoin to equal the same dollar amount.\n\nBitcoin can only be considered a unit of account (a standard way to measure the value of goods) when merchants are willing to accept it for payment without considering the exchange rate with other currencies.\n", + "title": "How can bitcoin be considered a unit of account" + } + } + } + }, + { + "partlyMonetized": { "title": "Partial Monetization", - "type": "Text" - }, - { - "answers": [ - "It is in the process of becoming more widely accepted as money", - "It is currently being used as a way to trade goods and services, like other currencies.", - "It has already completed the process of becoming more widely accepted as money and is now being used as a form of currency." - ], - "feedback": [ - "Bingo! You're right on the money (pun intended) with this answer. Did you know that the process of Bitcoin becoming more widely accepted as money is similar to the process gold went through to become a widely accepted form of currency", - "Ha! You must have missed the part about it taking several years for Bitcoin to reach this stage. Keep reading", - "Sorry to break it to you, but Bitcoin is still in the process of becoming more widely accepted as money. Better luck next time!" - ], - "id": "monetizationStage", - "question": "What is the current stage of Bitcoin's evolution", - "text": "Bitcoin is currently changing from the first stage of being used as money to the second stage. It may take several years for Bitcoin to be used as a way to trade goods and services, like other currencies.\n\nThe process of Bitcoin becoming more widely accepted as money is uncertain, as the same process took a long time for gold and no one alive has seen a good become money in the same way that is happening with Bitcoin. There is not a lot of experience with this process, but developments around the world are very promising and happening faster in the interconnected digital age.\n", + "questions": { + "partlyMonetized": { + "answers": [ + "A good that is not yet widely used as a unit of account", + "A currency that is only accepted in certain countries", + "A good that is used as a medium of exchange but not for storing value or measuring the value of goods" + ], + "feedback": [ + "Congratulations! You've chosen the correct answer. A partly monetized good is one that is not yet widely accepted as a unit of account, which means it is not commonly used as a standard way to measure the value of other goods. This can include goods like gold, which is often used to store value but not typically used for everyday transactions", + "That's a creative answer, but unfortunately not quite right. Better luck next time", + "Not quite correct, but close! Keep thinking." + ], + "question": "What is the meaning of the term \"partly monetized\"", + "text": "Goods that are not widely accepted as a unit of account may be considered \"partly monetized\" because they are used for some purposes related to money, but not all.\n\nGold is an example of a partly monetized good that is used to store value but is not widely used as a medium of exchange or unit of account. In some countries, different goods may be used for different purposes related to money, such as one good being used as a medium of exchange and another being used as a store of value or unit of account.\n\nThe dollar is an example of a good that is widely used for all three purposes of money in the United States, while the peso was an example of a good that was used as a medium of exchange in Argentina but was not a good store of value because of its volatility and regular loss of purchasing power.\n", + "title": "What is the meaning of the term \"partly monetized\"" + } + } + } + }, + { + "monetizationStage": { "title": "Bitcoin is in the stage of monetization", - "type": "Text" + "questions": { + "monetizationStage": { + "answers": [ + "It is in the process of becoming more widely accepted as money", + "It is currently being used as a way to trade goods and services, like other currencies.", + "It has already completed the process of becoming more widely accepted as money and is now being used as a form of currency." + ], + "feedback": [ + "Bingo! You're right on the money (pun intended) with this answer. Did you know that the process of Bitcoin becoming more widely accepted as money is similar to the process gold went through to become a widely accepted form of currency", + "Ha! You must have missed the part about it taking several years for Bitcoin to reach this stage. Keep reading", + "Sorry to break it to you, but Bitcoin is still in the process of becoming more widely accepted as money. Better luck next time!" + ], + "question": "What is the current stage of Bitcoin's evolution", + "text": "Bitcoin is currently changing from the first stage of being used as money to the second stage. It may take several years for Bitcoin to be used as a way to trade goods and services, like other currencies.\n\nThe process of Bitcoin becoming more widely accepted as money is uncertain, as the same process took a long time for gold and no one alive has seen a good become money in the same way that is happening with Bitcoin. There is not a lot of experience with this process, but developments around the world are very promising and happening faster in the interconnected digital age.\n", + "title": "What is the current stage of Bitcoin's evolution" + } + } } - ], - "meta": { - "id": "TheEvolutionofMoneyI", - "title": "The Evolution of Money I" } -} +] diff --git a/chapter-203-the-evolution-of-money-i/203-es-combined.json b/chapter-203-the-evolution-of-money-i/203-es-combined.json deleted file mode 100644 index d470eff..0000000 --- a/chapter-203-the-evolution-of-money-i/203-es-combined.json +++ /dev/null @@ -1,127 +0,0 @@ -{ - "content": [ - { - "answers": [ - "El uso del dinero como forma de intercambiar bienes y servicios.", - "La historia del desarrollo del dinero.", - "El poder exclusivo de los gobiernos para crear dinero." - ], - "feedback": [ - "\u00a1Felicidades, lo hiciste bien! Es interesante observar que el uso del dinero como medio de cambio se ha vuelto m\u00e1s importante en los tiempos modernos debido al auge de los m\u00e9todos de pago electr\u00f3nicos.", - "\u00a1Equivocado! Pero es bueno que te interese la historia del dinero. Intentar otra vez", - "Lo siento, eso es incorrecto. Es cierto que los gobiernos tienen mucho control sobre la creaci\u00f3n y emisi\u00f3n de dinero, pero ese no es el foco principal de la econom\u00eda monetaria moderna. \u00a1Intentar otra vez!" - ], - "id": "evoluci\u00f3nDinero", - "question": "\u00bfCu\u00e1l es el enfoque principal de la econom\u00eda monetaria moderna?", - "text": "En los tiempos modernos, muchas personas en el campo de la econom\u00eda monetaria se centran en la idea de que el dinero se utiliza principalmente como una forma de intercambiar bienes y servicios.\n\nSin embargo, en el siglo pasado, los gobiernos han tenido el poder exclusivo de crear dinero y, a menudo, han dificultado que el dinero mantenga su valor. Esto lleva a la gente a creer que el objetivo principal del dinero es utilizarlo para el intercambio.\n\nAlgunos han argumentado que Bitcoin no es una buena forma de dinero porque su valor tiende a cambiar demasiado como para usarse de manera efectiva en las transacciones.\n\nSin embargo, esta forma de pensar es al rev\u00e9s. A lo largo de la historia, el uso del dinero se ha desarrollado por etapas, precediendo su valor como dep\u00f3sito de valor a su uso como medio de intercambio.\n", - "title": "La evoluci\u00f3n del dinero", - "type": "Texto" - }, - { - "answers": [ - "Monedas de cobre y plata.", - "Conchas, cuentas y oro.", - "Billetes de papel con fotograf\u00edas de l\u00edderes famosos." - ], - "feedback": [ - "Lo siento, eso es incorrecto. Las monedas de cobre y plata no se utilizaron como dinero al principio de su evoluci\u00f3n.", - "\u00a1Felicitaciones, lo hiciste bien! Es interesante notar que las conchas, las cuentas y el oro fueron valorados por su apariencia o cualidades especiales antes de ser ampliamente utilizados como dinero.", - "\u00a1Equivocado! Pero al menos est\u00e1s pensando en las formas m\u00e1s modernas de dinero. Los billetes de papel con fotograf\u00edas de l\u00edderes famosos no se utilizaron al principio de la evoluci\u00f3n del dinero." - ], - "id": "coleccionable", - "question": "\u00bfCu\u00e1les fueron algunos ejemplos de formas tempranas de dinero que fueron valoradas por su apariencia o cualidades especiales?", - "text": "A lo largo de la historia, el dinero ha pasado por cuatro etapas de desarrollo. Al principio, la gente s\u00f3lo quer\u00eda dinero por sus cualidades especiales, y lo ve\u00edan principalmente como un art\u00edculo decorativo o de colecci\u00f3n.\n\nEjemplos de esto incluyen conchas, cuentas y oro, que eran objetos de colecci\u00f3n antes de ser utilizados ampliamente como dinero.\n", - "title": "Cuatro etapas del dinero: coleccionable", - "type": "Texto" - }, - { - "answers": [ - "La cantidad de personas que lo quieren como reserva de valor.", - "El clima", - "El color de la reserva de valor." - ], - "feedback": [ - "\u00a1Buen trabajo! El poder adquisitivo de una reserva de valor est\u00e1 determinado por la cantidad de personas que quieren utilizarla como una forma de almacenar valor. A medida que m\u00e1s personas quieran utilizarlo para este prop\u00f3sito, el valor de la reserva de valor aumenta.", - "Lo sentimos, el clima definitivamente es un factor en muchas cosas, pero no es la respuesta correcta para esta pregunta. Tal vez intente buscar otros factores que podr\u00edan afectar el valor de una reserva de valor.", - "Lamento decir que el color de una reserva de valor probablemente no tenga mucho efecto en su poder adquisitivo. \u00a1Definitivamente es una idea interesante! Tal vez intente considerar otras caracter\u00edsticas que podr\u00edan afectar el valor de una reserva de valor." - ], - "id": "dep\u00f3sito de valor", - "question": "\u00bfQu\u00e9 determina el poder adquisitivo de una reserva de valor?", - "text": "La reserva de valor es la segunda etapa de la evoluci\u00f3n del dinero. Cuando un n\u00famero suficiente de personas quiere dinero debido a sus cualidades especiales, \u00e9ste se convierte en una forma de conservar y ahorrar valor a lo largo del tiempo, de transportar hacia el futuro la riqueza ganada con tanto esfuerzo.\n\nA medida que m\u00e1s personas reconocen un bien como una buena forma de almacenar valor, el valor del bien aumenta a medida que m\u00e1s personas lo desean para este prop\u00f3sito.\n\nCon el tiempo, el valor de una reserva de valor dejar\u00e1 de aumentar a medida que se generalice y menos gente nueva la quiera como reserva de valor.\n", - "title": "Cuatro etapas del dinero: dep\u00f3sito de valor", - "type": "Texto" - }, - { - "answers": [ - "La primera vez que bitcoin tuvo valor de mercado", - "La invenci\u00f3n de la pi\u00f1a como aderezo para la pizza", - "de nuevo" - ], - "feedback": [ - "Lo hiciste bien. El Bitcoin Pizza Day se celebra para marcar la primera vez que bitcoin tuvo valor de mercado, que fue cuando Laszlo Hanyecz intercambi\u00f3 10.000 bitcoins por dos pizzas. Es un evento importante en la evoluci\u00f3n de bitcoin.", - "Si bien la pi\u00f1a es una fruta hermosa, \u00a1no tiene cabida en una pizza real! Aparte de esta nota al margen, su respuesta es incorrecta. Intentar otra vez", - "Lo sentimos, la mejor receta de pizza es una cuesti\u00f3n de preferencia personal. Si bien la pizza siempre es deliciosa, no es el tema central del Bitcoin Pizza Day. Quiz\u00e1s intente considerar la importancia del evento en la historia de bitcoin." - ], - "id": "medio de intercambio", - "question": "\u00bfPor qu\u00e9 se celebra el D\u00eda de la Pizza Bitcoin?", - "text": "Cuando el dinero se utiliza para almacenar valor, su valor eventualmente se estabiliza. Y cuando el valor del dinero es estable, se convierte en la mejor opci\u00f3n para facilitar el comercio, ya que es f\u00e1cil de usar y no conlleva la carga de coordinaci\u00f3n del trueque.\n\nEn los primeros d\u00edas de Bitcoin en 2010, algunas personas no reconocieron el costo de oportunidad de utilizar Bitcoin como medio de intercambio en lugar de como una incipiente reserva de valor.\n\nHay una historia famosa sobre Laszlo Hanyecz que intercambi\u00f3 10.000 bitcoins (que val\u00edan alrededor de 165 millones de d\u00f3lares en el momento de escribir este art\u00edculo) por s\u00f3lo dos pizzas. Cuando Laszlo adquiri\u00f3 esas pizzas, fue la primera vez que bitcoin tuvo valor de mercado.\n\nHoy, la pizza de Laszlo se celebra a nivel mundial el 22 de mayo como el D\u00eda de la Pizza Bitcoin como un paso importante y un hito en la evoluci\u00f3n de bitcoin como dinero.\n", - "title": "Cuatro etapas del dinero: medio de cambio", - "type": "Texto" - }, - { - "answers": [ - "Cuando los comerciantes est\u00e1n dispuestos a aceptarlo como pago sin considerar el tipo de cambio con otras monedas.", - "Cuando se utiliza para comprar helado.", - "Cuando se usa para jugar con amigos." - ], - "feedback": [ - "\u00a1Felicitaciones! Para que bitcoin sea considerado una unidad de cuenta, debe ser ampliamente aceptado como forma de pago independientemente de su tipo de cambio con otras monedas. Esto significa que los comerciantes estar\u00edan dispuestos a aceptarlo como pago sin considerar el valor del bitcoin en t\u00e9rminos de otras monedas.", - "Lo siento, pero si bien el helado es delicioso, no es la respuesta correcta. Quiz\u00e1s intente considerar otros factores que podr\u00edan afectar la aceptaci\u00f3n de bitcoin como unidad de cuenta.", - "Jugar con amigos siempre es divertido, pero lamentablemente no es la respuesta correcta. Tal vez intente pensar en lo que se necesitar\u00eda para que bitcoin sea ampliamente aceptado como forma de pago\"." - ], - "id": "unidad de cuenta", - "question": "\u00bfC\u00f3mo se puede considerar bitcoin como una unidad de cuenta?", - "text": "Cuando el dinero se utiliza habitualmente para el comercio, los precios de los bienes se fijan en t\u00e9rminos de ese dinero. Esto significa que la mayor\u00eda de los bienes se pueden cambiar por dinero a un tipo de cambio determinado.\n\nNo es exacto decir que hoy en d\u00eda se pueden comprar muchos bienes con bitcoin. Por ejemplo, si bien se puede comprar una taza de caf\u00e9 usando bitcoin, el precio indicado no es el valor real de bitcoin. En cambio, es el precio en d\u00f3lares lo que quiere el comerciante, convertido a bitcoin seg\u00fan el tipo de cambio actual entre d\u00f3lares y bitcoin.\n\nSi el valor de bitcoin baja en t\u00e9rminos de d\u00f3lares, el comerciante pedir\u00e1 m\u00e1s bitcoin para igualar la misma cantidad en d\u00f3lares.\n\nBitcoin s\u00f3lo puede considerarse una unidad de cuenta (una forma est\u00e1ndar de medir el valor de los bienes) cuando los comerciantes est\u00e1n dispuestos a aceptarlo como pago sin considerar el tipo de cambio con otras monedas.\n", - "title": "Cuatro etapas del dinero: unidad de cuenta", - "type": "Texto" - }, - { - "answers": [ - "Un bien que a\u00fan no se utiliza ampliamente como unidad de cuenta.", - "Una moneda que s\u00f3lo se acepta en ciertos pa\u00edses.", - "Un bien que se utiliza como medio de intercambio pero no para almacenar valor o medir el valor de los bienes." - ], - "feedback": [ - "\u00a1Felicidades! Has elegido la respuesta correcta. Un bien parcialmente monetizado es aquel que a\u00fan no es ampliamente aceptado como unidad de cuenta, lo que significa que no se usa com\u00fanmente como forma est\u00e1ndar de medir el valor de otros bienes. Esto puede incluir bienes como el oro, que a menudo se utiliza para almacenar valor pero no suele utilizarse para transacciones cotidianas.", - "Esa es una respuesta creativa, pero lamentablemente no del todo correcta. Mejor suerte la pr\u00f3xima vez", - "\u00a1No del todo correcto, pero cerca! Sigue pensando." - ], - "id": "parcialmente monetizado", - "question": "\u00bfCu\u00e1l es el significado del t\u00e9rmino \"parcialmente monetizado\"?", - "text": "Los bienes que no son ampliamente aceptados como unidad de cuenta pueden considerarse \"parcialmente monetizados\" porque se utilizan para algunos fines relacionados con el dinero, pero no para todos.\n\nEl oro es un ejemplo de un bien parcialmente monetizado que se utiliza para almacenar valor pero no se utiliza ampliamente como medio de cambio o unidad de cuenta. En algunos pa\u00edses, se pueden usar diferentes bienes para diferentes prop\u00f3sitos relacionados con el dinero, como que un bien se use como medio de cambio y otro como dep\u00f3sito de valor o unidad de cuenta.\n\nEl d\u00f3lar es un ejemplo de un bien que se usa ampliamente para los tres prop\u00f3sitos del dinero en los Estados Unidos, mientras que el peso fue un ejemplo de un bien que se us\u00f3 como medio de cambio en Argentina pero no era una buena reserva de valor. debido a su volatilidad y p\u00e9rdida regular de poder adquisitivo.\n", - "title": "Monetizaci\u00f3n parcial", - "type": "Texto" - }, - { - "answers": [ - "Est\u00e1 en proceso de ser m\u00e1s aceptado como dinero.", - "Actualmente se utiliza como una forma de intercambiar bienes y servicios, al igual que otras monedas.", - "Ya ha completado el proceso de ser m\u00e1s aceptado como dinero y ahora se est\u00e1 utilizando como forma de moneda." - ], - "feedback": [ - "\u00a1Bingo! Tienes raz\u00f3n (juego de palabras) con esta respuesta. \u00bfSab\u00edas que el proceso por el que Bitcoin se vuelve m\u00e1s aceptado como dinero es similar al proceso por el que pas\u00f3 el oro para convertirse en una forma de moneda ampliamente aceptada?", - "\u00a1Ja! Debes haberte perdido la parte de que Bitcoin tard\u00f3 varios a\u00f1os en llegar a esta etapa. Sigue leyendo", - "Lamento dec\u00edrtelo, pero Bitcoin todav\u00eda est\u00e1 en el proceso de ser m\u00e1s aceptado como dinero. \u00a1Mejor suerte la pr\u00f3xima vez!" - ], - "id": "Etapa de monetizaci\u00f3n", - "question": "\u00bfCu\u00e1l es la etapa actual de la evoluci\u00f3n de Bitcoin?", - "text": "Actualmente, Bitcoin est\u00e1 pasando de la primera etapa de uso como dinero a la segunda etapa. Pueden pasar varios a\u00f1os antes de que Bitcoin se utilice como una forma de intercambiar bienes y servicios, como otras monedas.\n\nEl proceso de que Bitcoin se vuelva m\u00e1s aceptado como dinero es incierto, ya que el mismo proceso tom\u00f3 mucho tiempo para el oro y nadie vivo ha visto un bien convertirse en dinero de la misma manera que est\u00e1 sucediendo con Bitcoin. No hay mucha experiencia con este proceso, pero los avances en todo el mundo son muy prometedores y ocurren m\u00e1s r\u00e1pidamente en la era digital interconectada.\n", - "title": "Bitcoin est\u00e1 en la etapa de monetizaci\u00f3n", - "type": "Texto" - } - ], - "meta": { - "id": "La evoluci\u00f3n del dinero I", - "title": "La evoluci\u00f3n del dinero I" - } -} \ No newline at end of file diff --git a/chapter-203-the-evolution-of-money-i/203.01-lesson-evolution-money.json b/chapter-203-the-evolution-of-money-i/203.01-lesson-evolution-money.json index a986130..30a53ee 100755 --- a/chapter-203-the-evolution-of-money-i/203.01-lesson-evolution-money.json +++ b/chapter-203-the-evolution-of-money-i/203.01-lesson-evolution-money.json @@ -1,17 +1,22 @@ { - "answers": [ - "The use of money as a way to exchange goods and services", - "The history of money's development", - "The exclusive power of governments to create money" - ], - "feedback": [ - "Congrats, you got it right! It's interesting to note that the use of money as a medium of exchange has become more important in modern times due to the rise of electronic payment methods", - "Wrong! But it's good that you're interested in the history of money. Try again", - "Sorry, that's incorrect. It's true that governments do have a lot of control over the creation and issuance of money, but that's not the main focus of modern monetary economics. Try again!" - ], - "id": "evolutionMoney", - "question": "What is the main focus of modern monetary economics", - "text": "In modern times, many people in the field of monetary economics focus on the idea that money is mainly used as a way to exchange goods and services.\n\nIn the past century, however, governments have had the exclusive power to create money and have often made it difficult for money to hold its value. This lead people to believe that the main purpose of money is to be used for exchange.\n\nSome have argued that Bitcoin is not a good form of money because its value tends to change too much to be used effectively in transactions.\n\nHowever, this way of thinking is backwards. Throughout history, the use of money has developed in stages, with its value as a store of value coming before its use as a medium of exchange.\n", - "title": "The Evolution of Money", - "type": "Text" + "evolutionMoney": { + "title": "The Evolution of Money", + "questions": { + "evolutionMoney": { + "answers": [ + "The use of money as a way to exchange goods and services", + "The history of money's development", + "The exclusive power of governments to create money" + ], + "feedback": [ + "Congrats, you got it right! It's interesting to note that the use of money as a medium of exchange has become more important in modern times due to the rise of electronic payment methods", + "Wrong! But it's good that you're interested in the history of money. Try again", + "Sorry, that's incorrect. It's true that governments do have a lot of control over the creation and issuance of money, but that's not the main focus of modern monetary economics. Try again!" + ], + "question": "What is the main focus of modern monetary economics", + "text": "In modern times, many people in the field of monetary economics focus on the idea that money is mainly used as a way to exchange goods and services.\n\nIn the past century, however, governments have had the exclusive power to create money and have often made it difficult for money to hold its value. This lead people to believe that the main purpose of money is to be used for exchange.\n\nSome have argued that Bitcoin is not a good form of money because its value tends to change too much to be used effectively in transactions.\n\nHowever, this way of thinking is backwards. Throughout history, the use of money has developed in stages, with its value as a store of value coming before its use as a medium of exchange.\n", + "title": "What is the main focus of modern monetary economics" + } + } + } } diff --git a/chapter-203-the-evolution-of-money-i/203.02-lesson-collectible.json b/chapter-203-the-evolution-of-money-i/203.02-lesson-collectible.json index 6b6aa01..70e76cc 100644 --- a/chapter-203-the-evolution-of-money-i/203.02-lesson-collectible.json +++ b/chapter-203-the-evolution-of-money-i/203.02-lesson-collectible.json @@ -1,17 +1,22 @@ { - "answers": [ - "Coins made of copper and silver", - "Shells, beads, and gold", - "Paper bills with pictures of famous leaders" - ], - "feedback": [ - "Sorry, that's incorrect. Copper and silver coins were not used as money in the very beginning of its evolution", - "Congratulations, you got it right! It's interesting to note that shells, beads, and gold were all valued for their appearance or special qualities before becoming widely used as money", - "Wrong! But at least you're thinking about the more modern forms of money. Paper bills with pictures of famous leaders were not used in the very beginning of money's evolution." - ], - "id": "collectible", - "question": "What were some examples of early forms of money that were valued for their appearance or special qualities", - "text": "Throughout history, money has gone through four stages of development. In the very beginning, people only wanted money because of its special qualities, and it was mostly seen as a decorative item or a collectible.;\n\nExamples of this include shells, beads, and gold, which were all collectibles before becoming widely used as money.\n", - "title": "Four Stages of Money: Collectible", - "type": "Text" + "collectible": { + "title": "Four Stages of Money: Collectible", + "questions": { + "collectible": { + "answers": [ + "Coins made of copper and silver", + "Shells, beads, and gold", + "Paper bills with pictures of famous leaders" + ], + "feedback": [ + "Sorry, that's incorrect. Copper and silver coins were not used as money in the very beginning of its evolution", + "Congratulations, you got it right! It's interesting to note that shells, beads, and gold were all valued for their appearance or special qualities before becoming widely used as money", + "Wrong! But at least you're thinking about the more modern forms of money. Paper bills with pictures of famous leaders were not used in the very beginning of money's evolution." + ], + "question": "What were some examples of early forms of money that were valued for their appearance or special qualities", + "text": "Throughout history, money has gone through four stages of development. In the very beginning, people only wanted money because of its special qualities, and it was mostly seen as a decorative item or a collectible.;\n\nExamples of this include shells, beads, and gold, which were all collectibles before becoming widely used as money.\n", + "title": "What were some examples of early forms of money that were valued for their appearance or special qualities" + } + } + } } diff --git a/chapter-203-the-evolution-of-money-i/203.03-lesson-store-of-value.json b/chapter-203-the-evolution-of-money-i/203.03-lesson-store-of-value.json index 124d545..5200cd8 100644 --- a/chapter-203-the-evolution-of-money-i/203.03-lesson-store-of-value.json +++ b/chapter-203-the-evolution-of-money-i/203.03-lesson-store-of-value.json @@ -1,17 +1,22 @@ { - "answers": [ - "The number of people who want it as a store of value", - "The weather", - "The color of the store of value" - ], - "feedback": [ - "Nice work! The purchasing power of a store of value is determined by the number of people who want to use it as a way to store value. As more people want to use it for this purpose, the value of the store of value increases", - "Sorry, the weather is definitely a factor in many things, but it's not quite the right answer for this question. Maybe try looking at other factors that could affect the value of a store of value", - "I'm sorry to say that the color of a store of value probably doesn't have much of an effect on its purchasing power. It's definitely an interesting idea though! Maybe try considering other characteristics that could affect the value of a store of value." - ], - "id": "storeOfValue", - "question": "What determines the purchasing power of a store of value", - "text": "The store of value is the second stage of money's evolution. When enough people want money because of its special qualities, it becomes a way to keep and save value over time, to transport hard earned wealth into the future.\n\nAs more people recognize a good as a good way to store value, the good's value increases as more people want it for this purpose.\n\nEventually, the value of a store of value will stop increasing as it becomes widely held and fewer new people want it as a store of value.\n", - "title": "Four Stages of Money: Store of Value", - "type": "Text" + "storeOfValue": { + "title": "Four Stages of Money: Store of Value", + "questions": { + "storeOfValue": { + "answers": [ + "The number of people who want it as a store of value", + "The weather", + "The color of the store of value" + ], + "feedback": [ + "Nice work! The purchasing power of a store of value is determined by the number of people who want to use it as a way to store value. As more people want to use it for this purpose, the value of the store of value increases", + "Sorry, the weather is definitely a factor in many things, but it's not quite the right answer for this question. Maybe try looking at other factors that could affect the value of a store of value", + "I'm sorry to say that the color of a store of value probably doesn't have much of an effect on its purchasing power. It's definitely an interesting idea though! Maybe try considering other characteristics that could affect the value of a store of value." + ], + "question": "What determines the purchasing power of a store of value", + "text": "The store of value is the second stage of money's evolution. When enough people want money because of its special qualities, it becomes a way to keep and save value over time, to transport hard earned wealth into the future.\n\nAs more people recognize a good as a good way to store value, the good's value increases as more people want it for this purpose.\n\nEventually, the value of a store of value will stop increasing as it becomes widely held and fewer new people want it as a store of value.\n", + "title": "What determines the purchasing power of a store of value" + } + } + } } diff --git a/chapter-203-the-evolution-of-money-i/203.04-lesson-medium-of-exchange.json b/chapter-203-the-evolution-of-money-i/203.04-lesson-medium-of-exchange.json index f71a31b..2d7b232 100644 --- a/chapter-203-the-evolution-of-money-i/203.04-lesson-medium-of-exchange.json +++ b/chapter-203-the-evolution-of-money-i/203.04-lesson-medium-of-exchange.json @@ -1,17 +1,22 @@ { - "answers": [ - "The first time bitcoin had market value", - "The invention of pineapple as a pizza topping", - "again" - ], - "feedback": [ - "You got it right. Bitcoin Pizza Day is celebrated to mark the first time that bitcoin had market value, which was when Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. It's an important event in the evolution of bitcoin", - "While pineapple is a beautiful fruit, it has no place on a real pizza! Apart from this side note, your answer is wrong. Try again", - "Sorry, the best pizza recipe is a matter of personal preference. While pizza is always delicious, it's not the focus of Bitcoin Pizza Day. Maybe try considering the significance of the event in the history of bitcoin." - ], - "id": "mediumOfExchange", - "question": "What is Bitcoin Pizza Day celebrated for", - "text": "When money is used to store value, its value becomes stable eventually. And when the value of money is stable, it becomes the best option to facilitate trade as it's easy to use and doesn't have the coordination burden of barter.\n\nIn the early days of Bitcoin in 2010, some people did not recognize the opportunity cost to use Bitcoin as a medium of exchange rather than a nascent store of value.\n\nThere is a famous story about Laszlo Hanyecz who traded 10,000 bitcoins (which were worth about $165 million at the time of this writing) for just two pizzas. When Laszlo acquired those pizzas, it marked the first time that bitcoin had market value.\n\nToday, Laszlo's pizza is celebrated globally on May 22 as Bitcoin Pizza Day as an important step and milestone in the evolution of bitcoin as money.\n", - "title": "Four Stages of Money: Medium of Exchange", - "type": "Text" + "mediumOfExchange": { + "title": "Four Stages of Money: Medium of Exchange", + "questions": { + "mediumOfExchange": { + "answers": [ + "The first time bitcoin had market value", + "The invention of pineapple as a pizza topping", + "again" + ], + "feedback": [ + "You got it right. Bitcoin Pizza Day is celebrated to mark the first time that bitcoin had market value, which was when Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. It's an important event in the evolution of bitcoin", + "While pineapple is a beautiful fruit, it has no place on a real pizza! Apart from this side note, your answer is wrong. Try again", + "Sorry, the best pizza recipe is a matter of personal preference. While pizza is always delicious, it's not the focus of Bitcoin Pizza Day. Maybe try considering the significance of the event in the history of bitcoin." + ], + "question": "What is Bitcoin Pizza Day celebrated for", + "text": "When money is used to store value, its value becomes stable eventually. And when the value of money is stable, it becomes the best option to facilitate trade as it's easy to use and doesn't have the coordination burden of barter.\n\nIn the early days of Bitcoin in 2010, some people did not recognize the opportunity cost to use Bitcoin as a medium of exchange rather than a nascent store of value.\n\nThere is a famous story about Laszlo Hanyecz who traded 10,000 bitcoins (which were worth about $165 million at the time of this writing) for just two pizzas. When Laszlo acquired those pizzas, it marked the first time that bitcoin had market value.\n\nToday, Laszlo's pizza is celebrated globally on May 22 as Bitcoin Pizza Day as an important step and milestone in the evolution of bitcoin as money.\n", + "title": "What is Bitcoin Pizza Day celebrated for" + } + } + } } diff --git a/chapter-203-the-evolution-of-money-i/203.05-lesson-unit-of-account.json b/chapter-203-the-evolution-of-money-i/203.05-lesson-unit-of-account.json index 72b3b46..995c17a 100644 --- a/chapter-203-the-evolution-of-money-i/203.05-lesson-unit-of-account.json +++ b/chapter-203-the-evolution-of-money-i/203.05-lesson-unit-of-account.json @@ -1,17 +1,22 @@ { - "answers": [ - "When merchants are willing to accept it as payment without considering the exchange rate with other currencies", - "When it is used to buy ice cream", - "When it is used to play games with friends" - ], - "feedback": [ - "Congrats! For bitcoin to be considered a unit of account, it needs to be widely accepted as a form of payment without regard to its exchange rate with other currencies. This means that merchants would be willing to accept it as payment without considering the value of bitcoin in terms of other currencie", - "I'm sorry, but while ice cream is delicious, it's not quite the right answer. Maybe try considering other factors that could affect the acceptance of bitcoin as a unit of account", - "Playing games with friends is always fun, but unfortunately it's not the correct answer. Maybe try thinking about what it would take for bitcoin to be widely accepted as a form of payment.\"" - ], - "id": "unitOfAccount", - "question": "How can bitcoin be considered a unit of account", - "text": "When money is commonly used for trading, goods are priced in terms of it. This means that most goods can be exchanged for money at a certain rate.\n\nIt is not accurate to say that many goods can be bought with bitcoin today. For example, while a cup of coffee might be available for purchase using bitcoin, the price listed is not the true value of bitcoin. Instead, it is the dollar price that the merchant wants, converted into bitcoin based on the current exchange rate between dollars and bitcoin.\n\nIf the value of bitcoin goes down in terms of dollars, the merchant will ask for more bitcoin to equal the same dollar amount.\n\nBitcoin can only be considered a unit of account (a standard way to measure the value of goods) when merchants are willing to accept it for payment without considering the exchange rate with other currencies.\n", - "title": "Four Stages of Money: Unit of Account", - "type": "Text" + "unitOfAccount": { + "title": "Four Stages of Money: Unit of Account", + "questions": { + "unitOfAccount": { + "answers": [ + "When merchants are willing to accept it as payment without considering the exchange rate with other currencies", + "When it is used to buy ice cream", + "When it is used to play games with friends" + ], + "feedback": [ + "Congrats! For bitcoin to be considered a unit of account, it needs to be widely accepted as a form of payment without regard to its exchange rate with other currencies. This means that merchants would be willing to accept it as payment without considering the value of bitcoin in terms of other currencie", + "I'm sorry, but while ice cream is delicious, it's not quite the right answer. Maybe try considering other factors that could affect the acceptance of bitcoin as a unit of account", + "Playing games with friends is always fun, but unfortunately it's not the correct answer. Maybe try thinking about what it would take for bitcoin to be widely accepted as a form of payment.\"" + ], + "question": "How can bitcoin be considered a unit of account", + "text": "When money is commonly used for trading, goods are priced in terms of it. This means that most goods can be exchanged for money at a certain rate.\n\nIt is not accurate to say that many goods can be bought with bitcoin today. For example, while a cup of coffee might be available for purchase using bitcoin, the price listed is not the true value of bitcoin. Instead, it is the dollar price that the merchant wants, converted into bitcoin based on the current exchange rate between dollars and bitcoin.\n\nIf the value of bitcoin goes down in terms of dollars, the merchant will ask for more bitcoin to equal the same dollar amount.\n\nBitcoin can only be considered a unit of account (a standard way to measure the value of goods) when merchants are willing to accept it for payment without considering the exchange rate with other currencies.\n", + "title": "How can bitcoin be considered a unit of account" + } + } + } } diff --git a/chapter-203-the-evolution-of-money-i/203.06-lesson-partly-monetized.json b/chapter-203-the-evolution-of-money-i/203.06-lesson-partly-monetized.json index 42b4408..e1b2245 100644 --- a/chapter-203-the-evolution-of-money-i/203.06-lesson-partly-monetized.json +++ b/chapter-203-the-evolution-of-money-i/203.06-lesson-partly-monetized.json @@ -1,17 +1,22 @@ { - "answers": [ - "A good that is not yet widely used as a unit of account", - "A currency that is only accepted in certain countries", - "A good that is used as a medium of exchange but not for storing value or measuring the value of goods" - ], - "feedback": [ - "Congratulations! You've chosen the correct answer. A partly monetized good is one that is not yet widely accepted as a unit of account, which means it is not commonly used as a standard way to measure the value of other goods. This can include goods like gold, which is often used to store value but not typically used for everyday transactions", - "That's a creative answer, but unfortunately not quite right. Better luck next time", - "Not quite correct, but close! Keep thinking." - ], - "id": "partlyMonetized", - "question": "What is the meaning of the term \"partly monetized\"", - "text": "Goods that are not widely accepted as a unit of account may be considered \"partly monetized\" because they are used for some purposes related to money, but not all.\n\nGold is an example of a partly monetized good that is used to store value but is not widely used as a medium of exchange or unit of account. In some countries, different goods may be used for different purposes related to money, such as one good being used as a medium of exchange and another being used as a store of value or unit of account.\n\nThe dollar is an example of a good that is widely used for all three purposes of money in the United States, while the peso was an example of a good that was used as a medium of exchange in Argentina but was not a good store of value because of its volatility and regular loss of purchasing power.\n", - "title": "Partial Monetization", - "type": "Text" + "partlyMonetized": { + "title": "Partial Monetization", + "questions": { + "partlyMonetized": { + "answers": [ + "A good that is not yet widely used as a unit of account", + "A currency that is only accepted in certain countries", + "A good that is used as a medium of exchange but not for storing value or measuring the value of goods" + ], + "feedback": [ + "Congratulations! You've chosen the correct answer. A partly monetized good is one that is not yet widely accepted as a unit of account, which means it is not commonly used as a standard way to measure the value of other goods. This can include goods like gold, which is often used to store value but not typically used for everyday transactions", + "That's a creative answer, but unfortunately not quite right. Better luck next time", + "Not quite correct, but close! Keep thinking." + ], + "question": "What is the meaning of the term \"partly monetized\"", + "text": "Goods that are not widely accepted as a unit of account may be considered \"partly monetized\" because they are used for some purposes related to money, but not all.\n\nGold is an example of a partly monetized good that is used to store value but is not widely used as a medium of exchange or unit of account. In some countries, different goods may be used for different purposes related to money, such as one good being used as a medium of exchange and another being used as a store of value or unit of account.\n\nThe dollar is an example of a good that is widely used for all three purposes of money in the United States, while the peso was an example of a good that was used as a medium of exchange in Argentina but was not a good store of value because of its volatility and regular loss of purchasing power.\n", + "title": "What is the meaning of the term \"partly monetized\"" + } + } + } } diff --git a/chapter-203-the-evolution-of-money-i/203.07-lesson-monitization-stage.json b/chapter-203-the-evolution-of-money-i/203.07-lesson-monitization-stage.json index 787aadc..d162e0d 100644 --- a/chapter-203-the-evolution-of-money-i/203.07-lesson-monitization-stage.json +++ b/chapter-203-the-evolution-of-money-i/203.07-lesson-monitization-stage.json @@ -1,17 +1,22 @@ { - "answers": [ - "It is in the process of becoming more widely accepted as money", - "It is currently being used as a way to trade goods and services, like other currencies.", - "It has already completed the process of becoming more widely accepted as money and is now being used as a form of currency." - ], - "feedback": [ - "Bingo! You're right on the money (pun intended) with this answer. Did you know that the process of Bitcoin becoming more widely accepted as money is similar to the process gold went through to become a widely accepted form of currency", - "Ha! You must have missed the part about it taking several years for Bitcoin to reach this stage. Keep reading", - "Sorry to break it to you, but Bitcoin is still in the process of becoming more widely accepted as money. Better luck next time!" - ], - "id": "monetizationStage", - "question": "What is the current stage of Bitcoin's evolution", - "text": "Bitcoin is currently changing from the first stage of being used as money to the second stage. It may take several years for Bitcoin to be used as a way to trade goods and services, like other currencies.\n\nThe process of Bitcoin becoming more widely accepted as money is uncertain, as the same process took a long time for gold and no one alive has seen a good become money in the same way that is happening with Bitcoin. There is not a lot of experience with this process, but developments around the world are very promising and happening faster in the interconnected digital age.\n", - "title": "Bitcoin is in the stage of monetization", - "type": "Text" + "monetizationStage": { + "title": "Bitcoin is in the stage of monetization", + "questions": { + "monetizationStage": { + "answers": [ + "It is in the process of becoming more widely accepted as money", + "It is currently being used as a way to trade goods and services, like other currencies.", + "It has already completed the process of becoming more widely accepted as money and is now being used as a form of currency." + ], + "feedback": [ + "Bingo! You're right on the money (pun intended) with this answer. Did you know that the process of Bitcoin becoming more widely accepted as money is similar to the process gold went through to become a widely accepted form of currency", + "Ha! You must have missed the part about it taking several years for Bitcoin to reach this stage. Keep reading", + "Sorry to break it to you, but Bitcoin is still in the process of becoming more widely accepted as money. Better luck next time!" + ], + "question": "What is the current stage of Bitcoin's evolution", + "text": "Bitcoin is currently changing from the first stage of being used as money to the second stage. It may take several years for Bitcoin to be used as a way to trade goods and services, like other currencies.\n\nThe process of Bitcoin becoming more widely accepted as money is uncertain, as the same process took a long time for gold and no one alive has seen a good become money in the same way that is happening with Bitcoin. There is not a lot of experience with this process, but developments around the world are very promising and happening faster in the interconnected digital age.\n", + "title": "What is the current stage of Bitcoin's evolution" + } + } + } } diff --git a/chapter-204-the-evolution-of-money-ii/204-combined.json b/chapter-204-the-evolution-of-money-ii/204-combined.json index 156a7e3..58d0b78 100644 --- a/chapter-204-the-evolution-of-money-ii/204-combined.json +++ b/chapter-204-the-evolution-of-money-ii/204-combined.json @@ -1,93 +1,112 @@ -{ - "content": [ - { - "answers": [ - "Money is the most tradable good in any given market.", - "Money is a government creation.", - "Money is a magical substance created by fairies." - ], - "feedback": [ - "Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money", - "Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time", - "Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!" - ], - "id": "notFromGovernment", - "question": "What is money", - "text": "There is a popular misconception that money is a government creation and cannot exist without government. This is false.\n\nThe history of money goes back thousands of years to times when governments did not exist, but money did.\n\nThis proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.\n", +[ + { + "notFromGovernment": { "title": "Money is not a government creation", - "type": "Text" - }, - { - "answers": [ - "To improve the workings of small barter networks.", - "To facilitate large scale trade networks.", - "To reduce the need for credit." - ], - "feedback": [ - "Congratulations! It's interesting to think about how money has evolved over time, from its early use as a means of facilitating trade in small communities to its current role as a medium of exchange in modern economies", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! Credit has been around for almost as long as money, and it's likely here to stay. Better luck with your next answer." - ], - "id": "primaryFunction", - "question": "What was the primary function of money", - "text": "Primitive money existed long before large scale trade networks. Archeologists found that early humans used valuable tools like arrowheads, collectibles like cowry shells and commodities like barley as primitive money.\n\nThe main advantage and primary function of these primitive moneys was to improve the workings of even small barter networks. Primitive moneys achieved this by eliminating the need to match coincidences of wants, interests, supply or skill. They also greatly reduced the need for credit, which, in the absence of writing in prehistoric times, was difficult to keep track of.\n", + "questions": { + "notFromGovernment": { + "answers": [ + "Money is the most tradable good in any given market.", + "Money is a government creation.", + "Money is a magical substance created by fairies." + ], + "feedback": [ + "Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money", + "Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time", + "Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!" + ], + "question": "What is money", + "text": "There is a popular misconception that money is a government creation and cannot exist without government. This is false.\n\nThe history of money goes back thousands of years to times when governments did not exist, but money did.\n\nThis proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.\n", + "title": "What is money" + } + } + } + }, + { + "primaryFunction": { "title": "The primary function of money", - "type": "Text" - }, - { - "answers": [ - "Their ability to withstand time and wear.", - "Their rarity and difficulty to produce.", - "Their colorful and decorative appearance." - ], - "feedback": [ - "Correct! It's impressive to think about how certain materials, like metal, have been able to hold value over centuries and even millennia. Good work", - "Nice try, but not quite right. Better luck with your next answer", - "Sorry, looks like you were a little off the mark this time. Maybe try focusing on the functional aspects of money rather than its aesthetic appeal." - ], - "id": "monetaryMetals", - "question": "What made metals valuable as a form of money", - "text": "Metals were difficult to make, which made them rare. They also lasted longer than other materials like shells, grains, and beads. This made them valuable and easy to carry, or portable.\n\nAs technology improved, especially in the production of metal, humans were able to create more advanced, better forms of money.\n", + "questions": { + "primaryFunction": { + "answers": [ + "To improve the workings of small barter networks.", + "To facilitate large scale trade networks.", + "To reduce the need for credit." + ], + "feedback": [ + "Congratulations! It's interesting to think about how money has evolved over time, from its early use as a means of facilitating trade in small communities to its current role as a medium of exchange in modern economies", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! Credit has been around for almost as long as money, and it's likely here to stay. Better luck with your next answer." + ], + "question": "What was the primary function of money", + "text": "Primitive money existed long before large scale trade networks. Archeologists found that early humans used valuable tools like arrowheads, collectibles like cowry shells and commodities like barley as primitive money.\n\nThe main advantage and primary function of these primitive moneys was to improve the workings of even small barter networks. Primitive moneys achieved this by eliminating the need to match coincidences of wants, interests, supply or skill. They also greatly reduced the need for credit, which, in the absence of writing in prehistoric times, was difficult to keep track of.\n", + "title": "What was the primary function of money" + } + } + } + }, + { + "monetaryMetals": { "title": "Monetary Metals", - "type": "Text" - }, - { - "answers": [ - "A measure of the rate at which new units of a monetary good are introduced into the existing supply.", - "A measure of a company's financial stability.", - "A ratio used to compare the value of different currencies." - ], - "feedback": [ - "That's right! The Stock to Flow ratio can be a useful tool for understanding the stability and scarcity of a particular currency or commodity. Good job", - "Sorry, looks like you're mixing up your business jargon. Better luck with your next answer", - "Wrong! But hey, at least you're thinking about the global economy. Better luck with your next guess." - ], - "id": "stockToFlow", - "question": "What is the Stock to Flow ratio", - "text": "The Stock to Flow ratio is a measure of the rate at which new units of money are added to the existing supply.\n\nTo calculate it, you divide the existing amount of money by the amount produced each year.\n\nFor something to be a good way to save value, it should become more valuable when people want to use it to save, but the people who make it should not be able to add too much of it, which would make it less valuable.\n", + "questions": { + "monetaryMetals": { + "answers": [ + "Their ability to withstand time and wear.", + "Their rarity and difficulty to produce.", + "Their colorful and decorative appearance." + ], + "feedback": [ + "Correct! It's impressive to think about how certain materials, like metal, have been able to hold value over centuries and even millennia. Good work", + "Nice try, but not quite right. Better luck with your next answer", + "Sorry, looks like you were a little off the mark this time. Maybe try focusing on the functional aspects of money rather than its aesthetic appeal." + ], + "question": "What made metals valuable as a form of money", + "text": "Metals were difficult to make, which made them rare. They also lasted longer than other materials like shells, grains, and beads. This made them valuable and easy to carry, or portable.\n\nAs technology improved, especially in the production of metal, humans were able to create more advanced, better forms of money.\n", + "title": "What made metals valuable as a form of money" + } + } + } + }, + { + "stockToFlow": { "title": "Understanding the Stock to Flow Ratio", - "type": "Text" - }, - { - "answers": [ - "The difficulty of producing new units of a monetary good.", - "The value of money compared to other currencies.", - "The amount of money in circulation." - ], - "feedback": [ - "That's it! **** It's interesting to think about how the hardness of money can change over time as technology advances and what was once difficult to produce becomes easier. Good job", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! The hardness of money has more to do with its production than its quantity. Better luck with your next answer." - ], - "id": "hardMoney", - "question": "What is the hardness of money", - "text": "The difficulty of producing new units of money compared to other forms of money is called its hardness. This can change over time as technology improves and what was once difficult to produce could become easier.\n\nIn precolonial Ghana (Africa), aggry beads (made of glass) were used as money. Glassmaking was an expensive craft in that region, which gave the aggry beads a high stock-to-flow ratio and made them rather scarce.\n\nIn the 16th century, European explorers discovered the high value ascribed to these beads by the west Africans and began importing them in mass quantities; as European glassmaking technology made them extremely cheap to produce.\n\nSlowly but surely, the Europeans used these cheaply produced beads to acquire most of the precious resources of Africa. The net effect of this incursion into Africa was the transference its vast natural resource wealth to Europeans and the conversion of aggry beads from hard money to soft money.\n\nAs societies continued to evolve, they began to move away from artifact money like stones and glass beads and towards monetary metals.\n", + "questions": { + "stockToFlow": { + "answers": [ + "A measure of the rate at which new units of a monetary good are introduced into the existing supply.", + "A measure of a company's financial stability.", + "A ratio used to compare the value of different currencies." + ], + "feedback": [ + "That's right! The Stock to Flow ratio can be a useful tool for understanding the stability and scarcity of a particular currency or commodity. Good job", + "Sorry, looks like you're mixing up your business jargon. Better luck with your next answer", + "Wrong! But hey, at least you're thinking about the global economy. Better luck with your next guess." + ], + "question": "What is the Stock to Flow ratio", + "text": "The Stock to Flow ratio is a measure of the rate at which new units of money are added to the existing supply.\n\nTo calculate it, you divide the existing amount of money by the amount produced each year.\n\nFor something to be a good way to save value, it should become more valuable when people want to use it to save, but the people who make it should not be able to add too much of it, which would make it less valuable.\n", + "title": "What is the Stock to Flow ratio" + } + } + } + }, + { + "hardMoney": { "title": "Hard Money and Easy Money", - "type": "Text" + "questions": { + "hardMoney": { + "answers": [ + "The difficulty of producing new units of a monetary good.", + "The value of money compared to other currencies.", + "The amount of money in circulation." + ], + "feedback": [ + "That's it! **** It's interesting to think about how the hardness of money can change over time as technology advances and what was once difficult to produce becomes easier. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! The hardness of money has more to do with its production than its quantity. Better luck with your next answer." + ], + "question": "What is the hardness of money", + "text": "The difficulty of producing new units of money compared to other forms of money is called its hardness. This can change over time as technology improves and what was once difficult to produce could become easier.\n\nIn precolonial Ghana (Africa), aggry beads (made of glass) were used as money. Glassmaking was an expensive craft in that region, which gave the aggry beads a high stock-to-flow ratio and made them rather scarce.\n\nIn the 16th century, European explorers discovered the high value ascribed to these beads by the west Africans and began importing them in mass quantities; as European glassmaking technology made them extremely cheap to produce.\n\nSlowly but surely, the Europeans used these cheaply produced beads to acquire most of the precious resources of Africa. The net effect of this incursion into Africa was the transference its vast natural resource wealth to Europeans and the conversion of aggry beads from hard money to soft money.\n\nAs societies continued to evolve, they began to move away from artifact money like stones and glass beads and towards monetary metals.\n", + "title": "What is the hardness of money" + } + } } - ], - "meta": { - "id": "TheEvolutionofMoneyII", - "title": "The Evolution of Money II" } -} +] diff --git a/chapter-204-the-evolution-of-money-ii/204-es-combined.json b/chapter-204-the-evolution-of-money-ii/204-es-combined.json deleted file mode 100644 index 6f47b4f..0000000 --- a/chapter-204-the-evolution-of-money-ii/204-es-combined.json +++ /dev/null @@ -1,93 +0,0 @@ -{ - "content": [ - { - "answers": [ - "El dinero es el bien m\u00e1s comercializable en cualquier mercado.", - "El dinero es una creaci\u00f3n del gobierno.", - "El dinero es una sustancia m\u00e1gica creada por las hadas." - ], - "feedback": [ - "Correcto. Es interesante pensar en c\u00f3mo diferentes sociedades a lo largo de la historia han utilizado diferentes art\u00edculos como forma de moneda, desde conchas marinas hasta ganado y oro. Pero, en \u00faltima instancia, es la voluntad de las personas de comerciar y aceptar un art\u00edculo como pago lo que determina su valor como dinero.", - "\u00a1No, lo siento! Parece que el gobierno no es tan poderoso como pens\u00e1bamos. Mejor suerte la pr\u00f3xima vez", - "Lo siento, pero parece que el Ratoncito P\u00e9rez es el \u00fanico que gana dinero m\u00e1gico en estos d\u00edas. \u00a1M\u00e1s suerte con tu pr\u00f3xima respuesta!" - ], - "id": "no del gobierno", - "question": "Qu\u00e9 es el dinero", - "text": "Existe una idea err\u00f3nea popular de que el dinero es una creaci\u00f3n del gobierno y no puede existir sin el gobierno. Esto es falso.\n\nLa historia del dinero se remonta a miles de a\u00f1os atr\u00e1s, a tiempos en los que no exist\u00edan los gobiernos, pero s\u00ed el dinero.\n\nEsto demuestra que el dinero es emergente y simplemente el bien m\u00e1s comercializable en un mercado. No es una creaci\u00f3n del gobierno y ciertamente no requiere que un gobierno haga funcionar el dinero.\n", - "title": "El dinero no es una creaci\u00f3n del gobierno.", - "type": "Texto" - }, - { - "answers": [ - "Mejorar el funcionamiento de las peque\u00f1as redes de trueque.", - "Facilitar redes comerciales a gran escala.", - "Reducir la necesidad de cr\u00e9dito." - ], - "feedback": [ - "\u00a1Felicidades! Es interesante pensar en c\u00f3mo ha evolucionado el dinero a lo largo del tiempo, desde su uso inicial como medio para facilitar el comercio en peque\u00f1as comunidades hasta su papel actual como medio de intercambio en las econom\u00edas modernas.", - "Lo siento, \u00a1parece que lo entendiste al rev\u00e9s! M\u00e1s suerte con tu pr\u00f3xima suposici\u00f3n.", - "\u00a1Equivocado! El cr\u00e9dito existe desde hace casi tanto tiempo como el dinero, y probablemente lleg\u00f3 para quedarse. M\u00e1s suerte con tu pr\u00f3xima respuesta." - ], - "id": "funci\u00f3n primaria", - "question": "\u00bfCu\u00e1l era la funci\u00f3n principal del dinero?", - "text": "El dinero primitivo existi\u00f3 mucho antes de las redes comerciales a gran escala. Los arque\u00f3logos descubrieron que los primeros humanos utilizaban herramientas valiosas como puntas de flecha, objetos de colecci\u00f3n como conchas de cauri y productos b\u00e1sicos como la cebada como dinero primitivo.\n\nLa principal ventaja y funci\u00f3n principal de estas monedas primitivas era mejorar el funcionamiento incluso de las peque\u00f1as redes de trueque. Los dineros primitivos lograron esto eliminando la necesidad de igualar coincidencias de deseos, intereses, oferta o habilidad. Tambi\u00e9n redujeron en gran medida la necesidad de cr\u00e9dito, que, a falta de escritura en tiempos prehist\u00f3ricos, era dif\u00edcil de seguir.\n", - "title": "La funci\u00f3n principal del dinero.", - "type": "Texto" - }, - { - "answers": [ - "Su capacidad para resistir el tiempo y el desgaste.", - "Su rareza y dificultad de producir.", - "Su aspecto colorido y decorativo." - ], - "feedback": [ - "\u00a1Correcto! Es impresionante pensar en c\u00f3mo ciertos materiales, como el metal, han podido mantener su valor durante siglos e incluso milenios. Buen trabajo", - "Buen intento, pero no del todo bien. M\u00e1s suerte con tu pr\u00f3xima respuesta.", - "Lo siento, parece que esta vez te equivocaste un poco. Quiz\u00e1s intente centrarse en los aspectos funcionales del dinero en lugar de en su atractivo est\u00e9tico." - ], - "id": "monetarioMetales", - "question": "\u00bfQu\u00e9 hizo que los metales fueran valiosos como forma de dinero?", - "text": "Los metales eran dif\u00edciles de fabricar, lo que los hac\u00eda raros. Tambi\u00e9n duraban m\u00e1s que otros materiales como conchas, granos y cuentas. Esto los hac\u00eda valiosos y f\u00e1ciles de transportar o port\u00e1tiles.\n\nA medida que la tecnolog\u00eda mejor\u00f3, especialmente en la producci\u00f3n de metales, los humanos pudieron crear formas de dinero mejores y m\u00e1s avanzadas.\n", - "title": "Metales monetarios", - "type": "Texto" - }, - { - "answers": [ - "Medida de la tasa a la que se introducen nuevas unidades de un bien monetario en la oferta existente.", - "Una medida de la estabilidad financiera de una empresa.", - "Una relaci\u00f3n utilizada para comparar el valor de diferentes monedas." - ], - "feedback": [ - "\u00a1As\u00ed es! La relaci\u00f3n entre existencias y flujos puede ser una herramienta \u00fatil para comprender la estabilidad y la escasez de una moneda o materia prima en particular. Buen trabajo", - "Lo siento, parece que est\u00e1s mezclando tu jerga empresarial. M\u00e1s suerte con tu pr\u00f3xima respuesta.", - "\u00a1Equivocado! Pero bueno, al menos est\u00e1s pensando en la econom\u00eda global. M\u00e1s suerte con tu pr\u00f3xima suposici\u00f3n." - ], - "id": "stockToFlow", - "question": "\u00bfCu\u00e1l es la relaci\u00f3n entre existencias y flujo?", - "text": "La relaci\u00f3n entre existencias y flujo es una medida de la tasa a la que se agregan nuevas unidades de dinero a la oferta existente.\n\nPara calcularlo, se divide la cantidad de dinero existente por la cantidad producida cada a\u00f1o.\n\nPara que algo sea una buena forma de ahorrar valor, deber\u00eda volverse m\u00e1s valioso cuando la gente quiera usarlo para ahorrar, pero las personas que lo fabrican no deber\u00edan poder agregar demasiado, lo que lo har\u00eda menos valioso.\n", - "title": "Comprender la relaci\u00f3n stock-flujo", - "type": "Texto" - }, - { - "answers": [ - "La dificultad de producir nuevas unidades de un bien monetario.", - "El valor del dinero en comparaci\u00f3n con otras monedas.", - "La cantidad de dinero en circulaci\u00f3n." - ], - "feedback": [ - "\u00a1Eso es todo! **** Es interesante pensar en c\u00f3mo la dureza del dinero puede cambiar con el tiempo a medida que avanza la tecnolog\u00eda y lo que antes era dif\u00edcil de producir se vuelve m\u00e1s f\u00e1cil. Buen trabajo", - "Lo siento, \u00a1parece que lo entendiste al rev\u00e9s! M\u00e1s suerte con tu pr\u00f3xima suposici\u00f3n.", - "\u00a1Equivocado! La dureza del dinero tiene m\u00e1s que ver con su producci\u00f3n que con su cantidad. M\u00e1s suerte con tu pr\u00f3xima respuesta." - ], - "id": "dinero duro", - "question": "\u00bfCu\u00e1l es la dureza del dinero?", - "text": "La dificultad de producir nuevas unidades de dinero en comparaci\u00f3n con otras formas de dinero se llama dureza. Esto puede cambiar con el tiempo a medida que la tecnolog\u00eda mejore y lo que antes era dif\u00edcil de producir pueda volverse m\u00e1s f\u00e1cil.\n\nEn la Ghana precolonial (\u00c1frica), las cuentas aggry (hechas de vidrio) se utilizaban como dinero. La fabricaci\u00f3n de vidrio era un oficio costoso en esa regi\u00f3n, lo que daba a las perlas aggry una alta relaci\u00f3n stock-flujo y las hac\u00eda bastante escasas.\n\nEn el siglo XVI, los exploradores europeos descubrieron el alto valor que los africanos occidentales atribu\u00edan a estas cuentas y comenzaron a importarlas en cantidades masivas; ya que la tecnolog\u00eda europea de fabricaci\u00f3n de vidrio hizo que su producci\u00f3n fuera extremadamente barata.\n\nDe forma lenta pero segura, los europeos utilizaron estas cuentas de producci\u00f3n barata para adquirir la mayor\u00eda de los preciosos recursos de \u00c1frica. El efecto neto de esta incursi\u00f3n en \u00c1frica fue la transferencia de su vasta riqueza de recursos naturales a los europeos y la conversi\u00f3n de cuentas agresivas de dinero fuerte a dinero blando.\n\nA medida que las sociedades continuaron evolucionando, comenzaron a alejarse del dinero artefacto, como piedras y cuentas de vidrio, hacia los metales monetarios.\n", - "title": "Dinero duro y dinero f\u00e1cil", - "type": "Texto" - } - ], - "meta": { - "id": "La evoluci\u00f3n del dinero II", - "title": "La evoluci\u00f3n del dinero II" - } -} \ No newline at end of file diff --git a/chapter-204-the-evolution-of-money-ii/204.01-lesson-not-from-government.json b/chapter-204-the-evolution-of-money-ii/204.01-lesson-not-from-government.json index baa1c0d..ec36999 100644 --- a/chapter-204-the-evolution-of-money-ii/204.01-lesson-not-from-government.json +++ b/chapter-204-the-evolution-of-money-ii/204.01-lesson-not-from-government.json @@ -1,17 +1,22 @@ { - "answers": [ - "Money is the most tradable good in any given market.", - "Money is a government creation.", - "Money is a magical substance created by fairies." - ], - "feedback": [ - "Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money", - "Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time", - "Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!" - ], - "id": "notFromGovernment", - "question": "What is money", - "text": "There is a popular misconception that money is a government creation and cannot exist without government. This is false.\n\nThe history of money goes back thousands of years to times when governments did not exist, but money did.\n\nThis proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.\n", - "title": "Money is not a government creation", - "type": "Text" + "notFromGovernment": { + "title": "Money is not a government creation", + "questions": { + "notFromGovernment": { + "answers": [ + "Money is the most tradable good in any given market.", + "Money is a government creation.", + "Money is a magical substance created by fairies." + ], + "feedback": [ + "Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money", + "Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time", + "Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!" + ], + "question": "What is money", + "text": "There is a popular misconception that money is a government creation and cannot exist without government. This is false.\n\nThe history of money goes back thousands of years to times when governments did not exist, but money did.\n\nThis proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.\n", + "title": "What is money" + } + } + } } diff --git a/chapter-204-the-evolution-of-money-ii/204.02-lesson-primary-functoin.json b/chapter-204-the-evolution-of-money-ii/204.02-lesson-primary-functoin.json index 12e9b2e..8d27eb1 100644 --- a/chapter-204-the-evolution-of-money-ii/204.02-lesson-primary-functoin.json +++ b/chapter-204-the-evolution-of-money-ii/204.02-lesson-primary-functoin.json @@ -1,17 +1,22 @@ { - "answers": [ - "To improve the workings of small barter networks.", - "To facilitate large scale trade networks.", - "To reduce the need for credit." - ], - "feedback": [ - "Congratulations! It's interesting to think about how money has evolved over time, from its early use as a means of facilitating trade in small communities to its current role as a medium of exchange in modern economies", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! Credit has been around for almost as long as money, and it's likely here to stay. Better luck with your next answer." - ], - "id": "primaryFunction", - "question": "What was the primary function of money", - "text": "Primitive money existed long before large scale trade networks. Archeologists found that early humans used valuable tools like arrowheads, collectibles like cowry shells and commodities like barley as primitive money.\n\nThe main advantage and primary function of these primitive moneys was to improve the workings of even small barter networks. Primitive moneys achieved this by eliminating the need to match coincidences of wants, interests, supply or skill. They also greatly reduced the need for credit, which, in the absence of writing in prehistoric times, was difficult to keep track of.\n", - "title": "The primary function of money", - "type": "Text" + "primaryFunction": { + "title": "The primary function of money", + "questions": { + "primaryFunction": { + "answers": [ + "To improve the workings of small barter networks.", + "To facilitate large scale trade networks.", + "To reduce the need for credit." + ], + "feedback": [ + "Congratulations! It's interesting to think about how money has evolved over time, from its early use as a means of facilitating trade in small communities to its current role as a medium of exchange in modern economies", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! Credit has been around for almost as long as money, and it's likely here to stay. Better luck with your next answer." + ], + "question": "What was the primary function of money", + "text": "Primitive money existed long before large scale trade networks. Archeologists found that early humans used valuable tools like arrowheads, collectibles like cowry shells and commodities like barley as primitive money.\n\nThe main advantage and primary function of these primitive moneys was to improve the workings of even small barter networks. Primitive moneys achieved this by eliminating the need to match coincidences of wants, interests, supply or skill. They also greatly reduced the need for credit, which, in the absence of writing in prehistoric times, was difficult to keep track of.\n", + "title": "What was the primary function of money" + } + } + } } diff --git a/chapter-204-the-evolution-of-money-ii/204.03-lesson-monetary-metals.json b/chapter-204-the-evolution-of-money-ii/204.03-lesson-monetary-metals.json index 3dc0115..602c2d9 100644 --- a/chapter-204-the-evolution-of-money-ii/204.03-lesson-monetary-metals.json +++ b/chapter-204-the-evolution-of-money-ii/204.03-lesson-monetary-metals.json @@ -1,17 +1,22 @@ { - "answers": [ - "Their ability to withstand time and wear.", - "Their rarity and difficulty to produce.", - "Their colorful and decorative appearance." - ], - "feedback": [ - "Correct! It's impressive to think about how certain materials, like metal, have been able to hold value over centuries and even millennia. Good work", - "Nice try, but not quite right. Better luck with your next answer", - "Sorry, looks like you were a little off the mark this time. Maybe try focusing on the functional aspects of money rather than its aesthetic appeal." - ], - "id": "monetaryMetals", - "question": "What made metals valuable as a form of money", - "text": "Metals were difficult to make, which made them rare. They also lasted longer than other materials like shells, grains, and beads. This made them valuable and easy to carry, or portable.\n\nAs technology improved, especially in the production of metal, humans were able to create more advanced, better forms of money.\n", - "title": "Monetary Metals", - "type": "Text" + "monetaryMetals": { + "title": "Monetary Metals", + "questions": { + "monetaryMetals": { + "answers": [ + "Their ability to withstand time and wear.", + "Their rarity and difficulty to produce.", + "Their colorful and decorative appearance." + ], + "feedback": [ + "Correct! It's impressive to think about how certain materials, like metal, have been able to hold value over centuries and even millennia. Good work", + "Nice try, but not quite right. Better luck with your next answer", + "Sorry, looks like you were a little off the mark this time. Maybe try focusing on the functional aspects of money rather than its aesthetic appeal." + ], + "question": "What made metals valuable as a form of money", + "text": "Metals were difficult to make, which made them rare. They also lasted longer than other materials like shells, grains, and beads. This made them valuable and easy to carry, or portable.\n\nAs technology improved, especially in the production of metal, humans were able to create more advanced, better forms of money.\n", + "title": "What made metals valuable as a form of money" + } + } + } } diff --git a/chapter-204-the-evolution-of-money-ii/204.05-lesson-stock-to-flow.json b/chapter-204-the-evolution-of-money-ii/204.05-lesson-stock-to-flow.json index 0432354..058bbf1 100644 --- a/chapter-204-the-evolution-of-money-ii/204.05-lesson-stock-to-flow.json +++ b/chapter-204-the-evolution-of-money-ii/204.05-lesson-stock-to-flow.json @@ -1,17 +1,22 @@ { - "answers": [ - "A measure of the rate at which new units of a monetary good are introduced into the existing supply.", - "A measure of a company's financial stability.", - "A ratio used to compare the value of different currencies." - ], - "feedback": [ - "That's right! The Stock to Flow ratio can be a useful tool for understanding the stability and scarcity of a particular currency or commodity. Good job", - "Sorry, looks like you're mixing up your business jargon. Better luck with your next answer", - "Wrong! But hey, at least you're thinking about the global economy. Better luck with your next guess." - ], - "id": "stockToFlow", - "question": "What is the Stock to Flow ratio", - "text": "The Stock to Flow ratio is a measure of the rate at which new units of money are added to the existing supply.\n\nTo calculate it, you divide the existing amount of money by the amount produced each year.\n\nFor something to be a good way to save value, it should become more valuable when people want to use it to save, but the people who make it should not be able to add too much of it, which would make it less valuable.\n", - "title": "Understanding the Stock to Flow Ratio", - "type": "Text" + "stockToFlow": { + "title": "Understanding the Stock to Flow Ratio", + "questions": { + "stockToFlow": { + "answers": [ + "A measure of the rate at which new units of a monetary good are introduced into the existing supply.", + "A measure of a company's financial stability.", + "A ratio used to compare the value of different currencies." + ], + "feedback": [ + "That's right! The Stock to Flow ratio can be a useful tool for understanding the stability and scarcity of a particular currency or commodity. Good job", + "Sorry, looks like you're mixing up your business jargon. Better luck with your next answer", + "Wrong! But hey, at least you're thinking about the global economy. Better luck with your next guess." + ], + "question": "What is the Stock to Flow ratio", + "text": "The Stock to Flow ratio is a measure of the rate at which new units of money are added to the existing supply.\n\nTo calculate it, you divide the existing amount of money by the amount produced each year.\n\nFor something to be a good way to save value, it should become more valuable when people want to use it to save, but the people who make it should not be able to add too much of it, which would make it less valuable.\n", + "title": "What is the Stock to Flow ratio" + } + } + } } diff --git a/chapter-204-the-evolution-of-money-ii/204.06-lesson-hard-money.json b/chapter-204-the-evolution-of-money-ii/204.06-lesson-hard-money.json index 19812a6..7afdf7e 100644 --- a/chapter-204-the-evolution-of-money-ii/204.06-lesson-hard-money.json +++ b/chapter-204-the-evolution-of-money-ii/204.06-lesson-hard-money.json @@ -1,17 +1,22 @@ { - "answers": [ - "The difficulty of producing new units of a monetary good.", - "The value of money compared to other currencies.", - "The amount of money in circulation." - ], - "feedback": [ - "That's it! **** It's interesting to think about how the hardness of money can change over time as technology advances and what was once difficult to produce becomes easier. Good job", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! The hardness of money has more to do with its production than its quantity. Better luck with your next answer." - ], - "id": "hardMoney", - "question": "What is the hardness of money", - "text": "The difficulty of producing new units of money compared to other forms of money is called its hardness. This can change over time as technology improves and what was once difficult to produce could become easier.\n\nIn precolonial Ghana (Africa), aggry beads (made of glass) were used as money. Glassmaking was an expensive craft in that region, which gave the aggry beads a high stock-to-flow ratio and made them rather scarce.\n\nIn the 16th century, European explorers discovered the high value ascribed to these beads by the west Africans and began importing them in mass quantities; as European glassmaking technology made them extremely cheap to produce.\n\nSlowly but surely, the Europeans used these cheaply produced beads to acquire most of the precious resources of Africa. The net effect of this incursion into Africa was the transference its vast natural resource wealth to Europeans and the conversion of aggry beads from hard money to soft money.\n\nAs societies continued to evolve, they began to move away from artifact money like stones and glass beads and towards monetary metals.\n", - "title": "Hard Money and Easy Money", - "type": "Text" + "hardMoney": { + "title": "Hard Money and Easy Money", + "questions": { + "hardMoney": { + "answers": [ + "The difficulty of producing new units of a monetary good.", + "The value of money compared to other currencies.", + "The amount of money in circulation." + ], + "feedback": [ + "That's it! **** It's interesting to think about how the hardness of money can change over time as technology advances and what was once difficult to produce becomes easier. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! The hardness of money has more to do with its production than its quantity. Better luck with your next answer." + ], + "question": "What is the hardness of money", + "text": "The difficulty of producing new units of money compared to other forms of money is called its hardness. This can change over time as technology improves and what was once difficult to produce could become easier.\n\nIn precolonial Ghana (Africa), aggry beads (made of glass) were used as money. Glassmaking was an expensive craft in that region, which gave the aggry beads a high stock-to-flow ratio and made them rather scarce.\n\nIn the 16th century, European explorers discovered the high value ascribed to these beads by the west Africans and began importing them in mass quantities; as European glassmaking technology made them extremely cheap to produce.\n\nSlowly but surely, the Europeans used these cheaply produced beads to acquire most of the precious resources of Africa. The net effect of this incursion into Africa was the transference its vast natural resource wealth to Europeans and the conversion of aggry beads from hard money to soft money.\n\nAs societies continued to evolve, they began to move away from artifact money like stones and glass beads and towards monetary metals.\n", + "title": "What is the hardness of money" + } + } + } } diff --git a/chapter-205-the-evolution-of-money-iii/205-combined.json b/chapter-205-the-evolution-of-money-iii/205-combined.json index 2d3ea62..2e5ad15 100644 --- a/chapter-205-the-evolution-of-money-iii/205-combined.json +++ b/chapter-205-the-evolution-of-money-iii/205-combined.json @@ -1,144 +1,178 @@ -{ - "content": [ - { - "answers": [ - "Because it cannot be destroyed or synthesized from other materials.", - "Because it is abundant and easy to find.", - "Because it is the most attractive and visually appealing metal." - ], - "feedback": [ - "Exactly**.** It's interesting to think about how the qualities of different materials, such as gold's durability and rarity, can make them more valuable and desirable as a form of money. Good job", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! While gold may have a certain aesthetic appeal, it's ultimately its functional qualities that make it a valuable form of money. Better luck with your next answer." - ], - "id": "convergingOnGold", - "question": "Why did the free market choose gold as a form of money", - "text": "From all monetary metals, the free market ultimately chose gold as a form of money because it has two important qualities that keep its value stable over long periods of time and across many regions of the world:\n\n1\\) Gold cannot be destroyed, and\n\n2\\) Gold cannot be made from other materials.\n", +[ + { + "convergingOnGold": { "title": "Convergence on Gold", - "type": "Text" - }, - { - "answers": [ - "To allow for the convenient exchange of gold in place of physically transporting it", - "To represent a promise to pay a debt", - "To transport large amounts of gold" - ], - "feedback": [ - "Congratulations! You're a gold exchange genius! Did you know that these paper notes were also known as \"bearer instruments,\" which means that they could be traded and redeemed by anyone in possession of them", - "Oh no, it looks like you've got a case of promissory confusion! Better luck next time", - "Transporting gold in paper form? That's a bold move." - ], - "id": "originsOfPaperMoney", - "question": "What were paper notes used for during the expansion of trade routes", - "text": "Gold can be made into coins or bars of a specific weight and purity. When trade routes expanded, it became riskier to transport large amounts of gold.\n\nAs a solution, paper notes from trusted banks that could be exchanged for gold were used. In 900 CE, Chinese merchants initiated the use of paper currency to avoid having to carry thousands of coins over long distances. They started trading paper receipts from custodians where they had deposited money or goods.\n\nIn the beginning these paper notes were personally registered, but they soon became a written order to pay the amount to whomever had it in their possession (bearer instrument). These notes can be seen as a predecessor to today's banknotes.\n", + "questions": { + "convergingOnGold": { + "answers": [ + "Because it cannot be destroyed or synthesized from other materials.", + "Because it is abundant and easy to find.", + "Because it is the most attractive and visually appealing metal." + ], + "feedback": [ + "Exactly**.** It's interesting to think about how the qualities of different materials, such as gold's durability and rarity, can make them more valuable and desirable as a form of money. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! While gold may have a certain aesthetic appeal, it's ultimately its functional qualities that make it a valuable form of money. Better luck with your next answer." + ], + "question": "Why did the free market choose gold as a form of money", + "text": "From all monetary metals, the free market ultimately chose gold as a form of money because it has two important qualities that keep its value stable over long periods of time and across many regions of the world:\n\n1\\) Gold cannot be destroyed, and\n\n2\\) Gold cannot be made from other materials.\n", + "title": "Why did the free market choose gold as a form of money" + } + } + } + }, + { + "originsOfPaperMoney": { "title": "The Origins of Paper Money Backed by Gold", - "type": "Text" - }, - { - "answers": [ - "To allow people to earn money from their gold", - "To make it easier for banks to hold large amounts of gold", - "To make it easier for banks to make loans" - ], - "feedback": [ - "Congratulations! You're a banking history expert! Did you know that Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans", - "Hmm, it looks like you're a little off the mark. Better luck next time", - "Sorry, but it looks like you're mixing up your banking systems. Better luck next time!" - ], - "id": "fractionalReserve", - "question": "Why did Fractional Reserve Banking develop", - "text": "Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans.\n\nOne reason this system developed is because people wanted to earn money from their gold, rather than paying to store it.\n\nThey could do this by allowing a bank or vault to lend out their gold and receiving interest payment in return.\n\nIf more people deposited their gold than wanted to take it back, the bank could make more profit by using the same gold as collateral for multiple loans, hence keeping only a fraction of loans in reserve.\n", + "questions": { + "originsOfPaperMoney": { + "answers": [ + "To allow for the convenient exchange of gold in place of physically transporting it", + "To represent a promise to pay a debt", + "To transport large amounts of gold" + ], + "feedback": [ + "Congratulations! You're a gold exchange genius! Did you know that these paper notes were also known as \"bearer instruments,\" which means that they could be traded and redeemed by anyone in possession of them", + "Oh no, it looks like you've got a case of promissory confusion! Better luck next time", + "Transporting gold in paper form? That's a bold move." + ], + "question": "What were paper notes used for during the expansion of trade routes", + "text": "Gold can be made into coins or bars of a specific weight and purity. When trade routes expanded, it became riskier to transport large amounts of gold.\n\nAs a solution, paper notes from trusted banks that could be exchanged for gold were used. In 900 CE, Chinese merchants initiated the use of paper currency to avoid having to carry thousands of coins over long distances. They started trading paper receipts from custodians where they had deposited money or goods.\n\nIn the beginning these paper notes were personally registered, but they soon became a written order to pay the amount to whomever had it in their possession (bearer instrument). These notes can be seen as a predecessor to today's banknotes.\n", + "title": "What were paper notes used for during the expansion of trade routes" + } + } + } + }, + { + "fractionalReserve": { "title": "The Invention of Fractional Reserve Banking", - "type": "Text" - }, - { - "answers": [ - "A sudden drain of deposits en masse, leading to systemic fears and drying up of liquidity", - "A nice vacation for everyone", - "A sudden increase in the price of gasoline" - ], - "feedback": [ - "masse, leading to systemic fears and drying up of liquidity", - "Sorry, taking a vacation isn't quite the outcome we're looking for here. Better luck next time", - "Gas prices might fluctuate for a variety of reasons, but this particular scenario doesn't have much to do with it. Try again!" - ], - "id": "bankRun", - "question": "What is a potential outcome of banks issuing more paper notes than they held deposits", - "text": "Banks sometimes issued more paper notes than they had deposits, which could cause problems in the economy. If people started to doubt the solvency of a bank, they might rush to withdraw their money all at once before others do. This is called a bank run.\n\nThe sudden loss of deposits from the bank run could reveal that the bank was using too much leverage through Fractional Reserve Banking. This could cause a lack of liquidity and bring the whole financial system to a stop.\n", + "questions": { + "fractionalReserve": { + "answers": [ + "To allow people to earn money from their gold", + "To make it easier for banks to hold large amounts of gold", + "To make it easier for banks to make loans" + ], + "feedback": [ + "Congratulations! You're a banking history expert! Did you know that Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans", + "Hmm, it looks like you're a little off the mark. Better luck next time", + "Sorry, but it looks like you're mixing up your banking systems. Better luck next time!" + ], + "question": "Why did Fractional Reserve Banking develop", + "text": "Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans.\n\nOne reason this system developed is because people wanted to earn money from their gold, rather than paying to store it.\n\nThey could do this by allowing a bank or vault to lend out their gold and receiving interest payment in return.\n\nIf more people deposited their gold than wanted to take it back, the bank could make more profit by using the same gold as collateral for multiple loans, hence keeping only a fraction of loans in reserve.\n", + "title": "Why did Fractional Reserve Banking develop" + } + } + } + }, + { + "bankRun": { "title": "Problems of Fractional Reserve Banking", - "type": "Text" - }, - { - "answers": [ - "To create a unified national currency and provide a backup plan for other banks", - "To sell ice cream and provide a place for people to play games", - "To act as a personal stylist and wardrobe consultant for the royal family" - ], - "feedback": [ - "Congratulations, you got it right! Did you know that central banks also act as the \"lender of last resort,\" meaning they can give out money when needed to make sure people's deposits are secure", - "I'm sorry, but central banks do not sell ice cream or provide a place for people to play games. They have much more important responsibilities", - "I'm afraid you are mistaken. Central banks do not act as personal stylists or wardrobe consultants for the royal family. Try again!" - ], - "id": "modernCentralBanking", - "question": "What is the purpose of a central bank", - "text": "To counter the problem of bank runs, governments created their own banks called \"central banks.\"\n\nThese central banks have the special power to create money. They act as a backup plan for when commercial banks run out of reserves and need extra money to stay open.\n\nBecause of this function, central banks are also called the \"lenders of last resort,\" meaning they can create and give out money when commercial banks need liquidity to service withdrawals.\n", + "questions": { + "bankRun": { + "answers": [ + "A sudden drain of deposits en masse, leading to systemic fears and drying up of liquidity", + "A nice vacation for everyone", + "A sudden increase in the price of gasoline" + ], + "feedback": [ + "masse, leading to systemic fears and drying up of liquidity", + "Sorry, taking a vacation isn't quite the outcome we're looking for here. Better luck next time", + "Gas prices might fluctuate for a variety of reasons, but this particular scenario doesn't have much to do with it. Try again!" + ], + "question": "What is a potential outcome of banks issuing more paper notes than they held deposits", + "text": "Banks sometimes issued more paper notes than they had deposits, which could cause problems in the economy. If people started to doubt the solvency of a bank, they might rush to withdraw their money all at once before others do. This is called a bank run.\n\nThe sudden loss of deposits from the bank run could reveal that the bank was using too much leverage through Fractional Reserve Banking. This could cause a lack of liquidity and bring the whole financial system to a stop.\n", + "title": "What is a potential outcome of banks issuing more paper notes than they held deposits" + } + } + } + }, + { + "modernCentralBanking": { "title": "Modern Central Banking", - "type": "Text" - }, - { - "answers": [ - "It made it difficult for governments to borrow money", - "It made it hard for people to save money in the bank", - "It required governments to hold a petting zoo in their treasury" - ], - "feedback": [ - "Yep! The gold standard made it difficult for governments to borrow money because they had to hold a certain amount of gold in reserve in order to issue a certain amount of currency", - "I'm sorry, but the gold standard did not make it hard for people to save money in the bank. It was actually a problem for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves", - "An amusing idea, but nonsense nevertheless! Try again." - ], - "id": "goldBacked", - "question": "What was the main problem with the gold standard system for governments and citizens", - "text": "In the past, some governments linked the value of their currency to a specific amount of gold, a system known as a \"gold standard.\" This meant that the government had to hold a certain amount of gold in reserve in order to issue a certain amount of currency.\n\nThis system limited the government's ability to borrow money because they could not simply print more currency to cover the cost of borrowing. Governments often borrowed money to finance wars or other expensive projects, but the gold standard made it difficult for them to do so without first accumulating enough gold to back the new currency they wanted to issue.\n\nThe gold standard was also problematic for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves.\n", + "questions": { + "modernCentralBanking": { + "answers": [ + "To create a unified national currency and provide a backup plan for other banks", + "To sell ice cream and provide a place for people to play games", + "To act as a personal stylist and wardrobe consultant for the royal family" + ], + "feedback": [ + "Congratulations, you got it right! Did you know that central banks also act as the \"lender of last resort,\" meaning they can give out money when needed to make sure people's deposits are secure", + "I'm sorry, but central banks do not sell ice cream or provide a place for people to play games. They have much more important responsibilities", + "I'm afraid you are mistaken. Central banks do not act as personal stylists or wardrobe consultants for the royal family. Try again!" + ], + "question": "What is the purpose of a central bank", + "text": "To counter the problem of bank runs, governments created their own banks called \"central banks.\"\n\nThese central banks have the special power to create money. They act as a backup plan for when commercial banks run out of reserves and need extra money to stay open.\n\nBecause of this function, central banks are also called the \"lenders of last resort,\" meaning they can create and give out money when commercial banks need liquidity to service withdrawals.\n", + "title": "What is the purpose of a central bank" + } + } + } + }, + { + "goldBacked": { "title": "From Gold to Gold-Backed", - "type": "Text" - }, - { - "answers": [ - "To link the value of other countries' currencies to the value of gold through the US dollar", - "To create a new global currency made out of chocolate coins", - "To establish a network of trampoline parks in every major city" - ], - "feedback": [ - "That's right. The Bretton Woods system was established after World War II in order to address global economic instability and high levels of debt. It linked the value of other countries' currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate", - "Sweet idea, but not very practical. Or would you prefer your money to melt away even faster? Try again", - "Trampoline parks would have surely made for a great distraction of the public from the strange machinations of the Bretton Woods system. Have you considered applying as an advisor at the IMF or World Bank? Try again!" - ], - "id": "brettonWoods", - "question": "What was the main purpose of the Bretton Woods system", - "text": "After World War I and II, many countries were financially exhausted and did not have a lot of money. The United States had a lot of gold because they sold a lot of weapons and other military equipment to other countries during the wars. As a result, the United States controlled about two-thirds of the world's gold.\n\nIn order to fix the global economy, a new system was created where countries would link their own currencies to the value of the US dollar.\n\nThe US dollar, in turn, would be linked to the value of gold. This meant that the value of other countries' currencies would be based on the value of the US dollar, which was based on the amount of gold the United States had.\n", + "questions": { + "goldBacked": { + "answers": [ + "It made it difficult for governments to borrow money", + "It made it hard for people to save money in the bank", + "It required governments to hold a petting zoo in their treasury" + ], + "feedback": [ + "Yep! The gold standard made it difficult for governments to borrow money because they had to hold a certain amount of gold in reserve in order to issue a certain amount of currency", + "I'm sorry, but the gold standard did not make it hard for people to save money in the bank. It was actually a problem for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves", + "An amusing idea, but nonsense nevertheless! Try again." + ], + "question": "What was the main problem with the gold standard system for governments and citizens", + "text": "In the past, some governments linked the value of their currency to a specific amount of gold, a system known as a \"gold standard.\" This meant that the government had to hold a certain amount of gold in reserve in order to issue a certain amount of currency.\n\nThis system limited the government's ability to borrow money because they could not simply print more currency to cover the cost of borrowing. Governments often borrowed money to finance wars or other expensive projects, but the gold standard made it difficult for them to do so without first accumulating enough gold to back the new currency they wanted to issue.\n\nThe gold standard was also problematic for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves.\n", + "title": "What was the main problem with the gold standard system for governments and citizens" + } + } + } + }, + { + "brettonWoods": { "title": "The Bretton Woods System", - "type": "Text" - }, - { - "answers": [ - "A type of money that is widely used in international trade and financial transactions", - "A currency made out of rainbow-colored paper and glitter", - "The currency of the nation that pays the biggest share of the World Trade Organization's budget" - ], - "feedback": [ - "Correct! A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted", - "While most banknotes are made of colorful pieces of paper with strings of glitter as security features in them, this is not what defines a global reserve currency. Try again", - "Surely this would benefit the WTO's funding immensely, but this is not how the global reserve currency is defined or chosen. Try again!" - ], - "id": "globalReserve", - "question": "What is a global reserve currency", - "text": "A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted.\n\nChanges to the global reserve currency can have significant geopolitical implications, as it can affect the balance of power between countries.\n\nThe dominant global reserve currency has typically had a lifespan of several decades, with the US dollar serving as the dominant global reserve currency for much of the 20th century.\n", + "questions": { + "brettonWoods": { + "answers": [ + "To link the value of other countries' currencies to the value of gold through the US dollar", + "To create a new global currency made out of chocolate coins", + "To establish a network of trampoline parks in every major city" + ], + "feedback": [ + "That's right. The Bretton Woods system was established after World War II in order to address global economic instability and high levels of debt. It linked the value of other countries' currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate", + "Sweet idea, but not very practical. Or would you prefer your money to melt away even faster? Try again", + "Trampoline parks would have surely made for a great distraction of the public from the strange machinations of the Bretton Woods system. Have you considered applying as an advisor at the IMF or World Bank? Try again!" + ], + "question": "What was the main purpose of the Bretton Woods system", + "text": "After World War I and II, many countries were financially exhausted and did not have a lot of money. The United States had a lot of gold because they sold a lot of weapons and other military equipment to other countries during the wars. As a result, the United States controlled about two-thirds of the world's gold.\n\nIn order to fix the global economy, a new system was created where countries would link their own currencies to the value of the US dollar.\n\nThe US dollar, in turn, would be linked to the value of gold. This meant that the value of other countries' currencies would be based on the value of the US dollar, which was based on the amount of gold the United States had.\n", + "title": "What was the main purpose of the Bretton Woods system" + } + } + } + }, + { + "globalReserve": { "title": "The Global Reserve Currency", - "type": "Text" + "questions": { + "globalReserve": { + "answers": [ + "A type of money that is widely used in international trade and financial transactions", + "A currency made out of rainbow-colored paper and glitter", + "The currency of the nation that pays the biggest share of the World Trade Organization's budget" + ], + "feedback": [ + "Correct! A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted", + "While most banknotes are made of colorful pieces of paper with strings of glitter as security features in them, this is not what defines a global reserve currency. Try again", + "Surely this would benefit the WTO's funding immensely, but this is not how the global reserve currency is defined or chosen. Try again!" + ], + "question": "What is a global reserve currency", + "text": "A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted.\n\nChanges to the global reserve currency can have significant geopolitical implications, as it can affect the balance of power between countries.\n\nThe dominant global reserve currency has typically had a lifespan of several decades, with the US dollar serving as the dominant global reserve currency for much of the 20th century.\n", + "title": "What is a global reserve currency" + } + } } - ], - "meta": { - "id": "TheEvolutionofMoneyIII", - "title": "The Evolution of Money III" } -} +] diff --git a/chapter-205-the-evolution-of-money-iii/205-es-combined.json b/chapter-205-the-evolution-of-money-iii/205-es-combined.json deleted file mode 100644 index 357bb2f..0000000 --- a/chapter-205-the-evolution-of-money-iii/205-es-combined.json +++ /dev/null @@ -1,144 +0,0 @@ -{ - "content": [ - { - "answers": [ - "Porque no se puede destruir ni sintetizar a partir de otros materiales.", - "Porque es abundante y f\u00e1cil de encontrar.", - "Porque es el metal m\u00e1s atractivo y visualmente atractivo." - ], - "feedback": [ - "Exactamente**.** Es interesante pensar en c\u00f3mo las cualidades de diferentes materiales, como la durabilidad y la rareza del oro, pueden hacerlos m\u00e1s valiosos y deseables como forma de dinero. Buen trabajo", - "Lo siento, \u00a1parece que lo entendiste al rev\u00e9s! M\u00e1s suerte con tu pr\u00f3xima suposici\u00f3n.", - "\u00a1Equivocado! Si bien el oro puede tener cierto atractivo est\u00e9tico, en \u00faltima instancia son sus cualidades funcionales las que lo convierten en una forma valiosa de dinero. M\u00e1s suerte con tu pr\u00f3xima respuesta." - ], - "id": "convergente en oro", - "question": "\u00bfPor qu\u00e9 el libre mercado eligi\u00f3 el oro como forma de dinero?", - "text": "De todos los metales monetarios, el libre mercado finalmente eligi\u00f3 el oro como forma de dinero porque tiene dos cualidades importantes que mantienen su valor estable durante largos per\u00edodos de tiempo y en muchas regiones del mundo:\n\n1\\) El oro no se puede destruir, y\n\n2\\) El oro no se puede fabricar con otros materiales.\n", - "title": "Convergencia sobre el oro", - "type": "Texto" - }, - { - "answers": [ - "Para permitir el intercambio conveniente de oro en lugar de transportarlo f\u00edsicamente.", - "Para representar una promesa de pagar una deuda.", - "Para transportar grandes cantidades de oro." - ], - "feedback": [ - "\u00a1Felicidades! \u00a1Eres un genio del cambio de oro! \u00bfSab\u00edas que estos billetes tambi\u00e9n se conoc\u00edan como \"instrumentos al portador\", lo que significa que pod\u00edan ser comercializados y canjeados por cualquiera que estuviera en posesi\u00f3n de ellos?", - "\u00a1Oh no, parece que tienes un caso de confusi\u00f3n promisoria! Mejor suerte la pr\u00f3xima vez", - "\u00bfTransportar oro en papel? \u00c9sa es una medida audaz." - ], - "id": "or\u00edgenes del dinero del papel", - "question": "\u00bfPara qu\u00e9 se utilizaron los billetes de papel durante la expansi\u00f3n de las rutas comerciales?", - "text": "El oro se puede convertir en monedas o lingotes de un peso y una pureza espec\u00edficos. Cuando las rutas comerciales se expandieron, se volvi\u00f3 m\u00e1s riesgoso transportar grandes cantidades de oro.\n\nComo soluci\u00f3n se utilizaron billetes de bancos de confianza que pod\u00edan canjearse por oro. En el a\u00f1o 900 d.C., los comerciantes chinos iniciaron el uso del papel moneda para evitar tener que transportar miles de monedas a largas distancias. Comenzaron a intercambiar recibos en papel de los custodios donde hab\u00edan depositado dinero o bienes.\n\nEn un principio estos billetes eran registrados personalmente, pero pronto se convirtieron en una orden escrita de pago del importe a quien los tuviera en su poder (instrumento al portador). Estos billetes pueden verse como los predecesores de los billetes actuales.\n", - "title": "Los or\u00edgenes del papel moneda respaldado por oro", - "type": "Texto" - }, - { - "answers": [ - "Para permitir que la gente gane dinero con su oro.", - "Para facilitar que los bancos tengan grandes cantidades de oro", - "Para facilitar a los bancos la concesi\u00f3n de pr\u00e9stamos" - ], - "feedback": [ - "\u00a1Felicidades! \u00a1Eres un experto en historia bancaria! \u00bfSab\u00edas que la Banca de Reserva Fraccionada es un sistema en el que a los bancos se les permite mantener s\u00f3lo una fracci\u00f3n de los dep\u00f3sitos que reciben como reservas, mientras que utilizan el resto para otorgar pr\u00e9stamos?", - "Hmm, parece que est\u00e1s un poco fuera de lugar. Mejor suerte la pr\u00f3xima vez", - "Lo sentimos, pero parece que est\u00e1s mezclando tus sistemas bancarios. \u00a1Mejor suerte la pr\u00f3xima vez!" - ], - "id": "reserva fraccionaria", - "question": "\u00bfPor qu\u00e9 se desarroll\u00f3 la Banca de Reserva Fraccionada?", - "text": "La Banca de Reserva Fraccionada es un sistema en el que a los bancos se les permite mantener s\u00f3lo una fracci\u00f3n de los dep\u00f3sitos que reciben como reservas, mientras que utilizan el resto para otorgar pr\u00e9stamos.\n\nUna de las razones por las que se desarroll\u00f3 este sistema es porque la gente quer\u00eda ganar dinero con su oro, en lugar de pagar para almacenarlo.\n\nPodr\u00edan hacerlo permitiendo que un banco o una b\u00f3veda preste su oro y recibiendo a cambio el pago de intereses.\n\nSi m\u00e1s personas depositaran su oro de las que quisieran recuperarlo, el banco podr\u00eda obtener m\u00e1s ganancias utilizando el mismo oro como garant\u00eda para m\u00faltiples pr\u00e9stamos, manteniendo as\u00ed s\u00f3lo una fracci\u00f3n de los pr\u00e9stamos en reserva.\n", - "title": "La invenci\u00f3n de la banca de reserva fraccionaria", - "type": "Texto" - }, - { - "answers": [ - "Una fuga repentina y masiva de dep\u00f3sitos, que genera temores sist\u00e9micos y agotamiento de la liquidez.", - "Unas buenas vacaciones para todos.", - "Un aumento repentino en el precio de la gasolina." - ], - "feedback": [ - "masiva, lo que genera temores sist\u00e9micos y agotamiento de la liquidez.", - "Lo sentimos, tomarse unas vacaciones no es exactamente el resultado que buscamos aqu\u00ed. Mejor suerte la pr\u00f3xima vez", - "Los precios del gas pueden fluctuar por diversas razones, pero este escenario en particular no tiene mucho que ver con eso. \u00a1Intentar otra vez!" - ], - "id": "corrida bancaria", - "question": "\u00bfCu\u00e1l es el posible resultado de que los bancos emitan m\u00e1s billetes de los que tienen dep\u00f3sitos?", - "text": "En ocasiones, los bancos emit\u00edan m\u00e1s billetes que dep\u00f3sitos, lo que pod\u00eda causar problemas en la econom\u00eda. Si la gente empezara a dudar de la solvencia de un banco, podr\u00eda apresurarse a retirar su dinero de una vez antes que los dem\u00e1s. A esto se le llama corrida bancaria.\n\nLa p\u00e9rdida repentina de dep\u00f3sitos debido a la corrida bancaria podr\u00eda revelar que el banco estaba utilizando demasiado apalancamiento a trav\u00e9s de la Banca de Reserva Fraccionada. Esto podr\u00eda provocar una falta de liquidez y paralizar todo el sistema financiero.\n", - "title": "Problemas de la banca de reserva fraccionaria", - "type": "Texto" - }, - { - "answers": [ - "Crear una moneda nacional unificada y proporcionar un plan de respaldo para otros bancos.", - "Vender helados y proporcionar un lugar para que la gente juegue.", - "Actuar como estilista personal y asesor de vestuario de la familia real." - ], - "feedback": [ - "\u00a1Felicitaciones, lo hiciste bien! \u00bfSab\u00eda que los bancos centrales tambi\u00e9n act\u00faan como \"prestamistas de \u00faltimo recurso\", lo que significa que pueden dar dinero cuando sea necesario para garantizar que los dep\u00f3sitos de las personas est\u00e9n seguros?", - "Lo siento, pero los bancos centrales no venden helados ni ofrecen un lugar para que la gente juegue. Tienen responsabilidades mucho m\u00e1s importantes.", - "Me temo que est\u00e1s equivocado. Los bancos centrales no act\u00faan como estilistas personales ni asesores de vestuario de la familia real. \u00a1Intentar otra vez!" - ], - "id": "Banca Central moderna", - "question": "\u00bfCu\u00e1l es el prop\u00f3sito de un banco central?", - "text": "Para contrarrestar el problema de las corridas bancarias, los gobiernos crearon sus propios bancos llamados \"bancos centrales\".\n\nEstos bancos centrales tienen el poder especial de crear dinero. Act\u00faan como un plan de respaldo para cuando los bancos comerciales se queden sin reservas y necesiten dinero extra para permanecer abiertos.\n\nDebido a esta funci\u00f3n, a los bancos centrales tambi\u00e9n se les llama \"prestamistas de \u00faltimo recurso\", lo que significa que pueden crear y dar dinero cuando los bancos comerciales necesitan liquidez para atender los retiros.\n", - "title": "Banca central moderna", - "type": "Texto" - }, - { - "answers": [ - "A los gobiernos les result\u00f3 dif\u00edcil pedir dinero prestado.", - "A la gente le resultaba dif\u00edcil ahorrar dinero en el banco.", - "Requiri\u00f3 que los gobiernos tuvieran un zool\u00f3gico de mascotas en su tesorer\u00eda" - ], - "feedback": [ - "\u00a1S\u00ed! El patr\u00f3n oro hizo dif\u00edcil para los gobiernos pedir dinero prestado porque ten\u00edan que mantener una cierta cantidad de oro en reserva para poder emitir una cierta cantidad de moneda.", - "Lo siento, pero el patr\u00f3n oro no dificultaba que la gente ahorrara dinero en el banco. En realidad, era un problema para los ciudadanos porque no ofrec\u00eda ninguna garant\u00eda de que sus dep\u00f3sitos en el banco estuvieran seguros, ya que el valor de su dinero depend\u00eda de la capacidad del gobierno para mantener sus reservas de oro.", - "\u00a1Una idea divertida, pero al fin y al cabo una tonter\u00eda! Intentar otra vez." - ], - "id": "con respaldo de oro", - "question": "\u00bfCu\u00e1l fue el principal problema del sistema de patr\u00f3n oro para gobiernos y ciudadanos?", - "text": "En el pasado, algunos gobiernos vinculaban el valor de su moneda a una cantidad espec\u00edfica de oro, un sistema conocido como \"patr\u00f3n oro\". Esto significaba que el gobierno ten\u00eda que mantener una determinada cantidad de oro en reserva para poder emitir una determinada cantidad de moneda.\n\nEste sistema limit\u00f3 la capacidad del gobierno para pedir dinero prestado porque no pod\u00eda simplemente imprimir m\u00e1s moneda para cubrir el costo del pr\u00e9stamo. Los gobiernos a menudo ped\u00edan dinero prestado para financiar guerras u otros proyectos costosos, pero el patr\u00f3n oro les dificultaba hacerlo sin antes acumular suficiente oro para respaldar la nueva moneda que quer\u00edan emitir.\n\nEl patr\u00f3n oro tambi\u00e9n era problem\u00e1tico para los ciudadanos porque no ofrec\u00eda ninguna garant\u00eda de que sus dep\u00f3sitos en el banco estuvieran seguros, ya que el valor de su dinero depend\u00eda de la capacidad del gobierno para mantener sus reservas de oro.\n", - "title": "Del oro al respaldo en oro", - "type": "Texto" - }, - { - "answers": [ - "Vincular el valor de las monedas de otros pa\u00edses al valor del oro a trav\u00e9s del d\u00f3lar estadounidense.", - "Crear una nueva moneda global hecha de monedas de chocolate", - "Establecer una red de parques de trampolines en todas las ciudades importantes." - ], - "feedback": [ - "As\u00ed es. El sistema de Bretton Woods se estableci\u00f3 despu\u00e9s de la Segunda Guerra Mundial para abordar la inestabilidad econ\u00f3mica global y los altos niveles de deuda. Vincul\u00f3 el valor de las monedas de otros pa\u00edses al valor del d\u00f3lar estadounidense, que a su vez estaba vinculado al valor del oro a un tipo de cambio fijo.", - "Dulce idea, pero no muy pr\u00e1ctica. \u00bfO prefiere que su dinero se desperdicie a\u00fan m\u00e1s r\u00e1pido? Intentar otra vez", - "Los parques de trampolines seguramente habr\u00edan supuesto una gran distracci\u00f3n para el p\u00fablico de las extra\u00f1as maquinaciones del sistema de Bretton Woods. \u00bfHa considerado postularse como asesor en el FMI o el Banco Mundial? \u00a1Intentar otra vez!" - ], - "id": "bosque Bretton", - "question": "\u00bfCu\u00e1l fue el objetivo principal del sistema de Bretton Woods?", - "text": "Despu\u00e9s de la Primera y Segunda Guerra Mundial, muchos pa\u00edses estaban financieramente agotados y no ten\u00edan mucho dinero. Estados Unidos ten\u00eda mucho oro porque vendi\u00f3 muchas armas y otros equipos militares a otros pa\u00edses durante las guerras. Como resultado, Estados Unidos controlaba alrededor de dos tercios del oro del mundo.\n\nPara arreglar la econom\u00eda global, se cre\u00f3 un nuevo sistema en el que los pa\u00edses vincular\u00edan sus propias monedas al valor del d\u00f3lar estadounidense.\n\nEl d\u00f3lar estadounidense, a su vez, estar\u00eda vinculado al valor del oro. Esto significaba que el valor de las monedas de otros pa\u00edses se basar\u00eda en el valor del d\u00f3lar estadounidense, que se basaba en la cantidad de oro que ten\u00eda Estados Unidos.\n", - "title": "El sistema de Bretton Woods", - "type": "Texto" - }, - { - "answers": [ - "Un tipo de dinero que se utiliza ampliamente en el comercio internacional y en transacciones financieras.", - "Una moneda hecha con papel de los colores del arco\u00edris y purpurina.", - "La moneda de la naci\u00f3n que paga la mayor parte del presupuesto de la Organizaci\u00f3n Mundial del Comercio" - ], - "feedback": [ - "\u00a1Correcto! Una moneda de reserva global es un tipo de dinero que se utiliza ampliamente en el comercio internacional y en las transacciones financieras. Es la moneda preferida o m\u00e1s demandada para liquidar transacciones, ya que generalmente es estable y ampliamente aceptada.", - "Si bien la mayor\u00eda de los billetes est\u00e1n hechos de trozos de papel coloridos con hilos de brillantina como elementos de seguridad, esto no es lo que define una moneda de reserva global. Intentar otra vez", - "Seguramente esto beneficiar\u00eda inmensamente la financiaci\u00f3n de la OMC, pero no es as\u00ed como se define o elige la moneda de reserva global. \u00a1Intentar otra vez!" - ], - "id": "reserva global", - "question": "\u00bfQu\u00e9 es una moneda de reserva global?", - "text": "Una moneda de reserva global es un tipo de dinero que se utiliza ampliamente en el comercio internacional y en las transacciones financieras. Es la moneda preferida o m\u00e1s demandada para liquidar transacciones, ya que generalmente es estable y ampliamente aceptada.\n\nLos cambios en la moneda de reserva global pueden tener importantes implicaciones geopol\u00edticas, ya que pueden afectar el equilibrio de poder entre pa\u00edses.\n\nLa moneda de reserva global dominante normalmente ha tenido una vida \u00fatil de varias d\u00e9cadas, y el d\u00f3lar estadounidense fue la moneda de reserva global dominante durante gran parte del siglo XX.\n", - "title": "La moneda de reserva global", - "type": "Texto" - } - ], - "meta": { - "id": "La evoluci\u00f3n del dinero III", - "title": "La evoluci\u00f3n del dinero III" - } -} \ No newline at end of file diff --git a/chapter-205-the-evolution-of-money-iii/205.01-lesson-converging-on-gold.json b/chapter-205-the-evolution-of-money-iii/205.01-lesson-converging-on-gold.json index d7cdea1..2958aec 100644 --- a/chapter-205-the-evolution-of-money-iii/205.01-lesson-converging-on-gold.json +++ b/chapter-205-the-evolution-of-money-iii/205.01-lesson-converging-on-gold.json @@ -1,17 +1,22 @@ { - "answers": [ - "Because it cannot be destroyed or synthesized from other materials.", - "Because it is abundant and easy to find.", - "Because it is the most attractive and visually appealing metal." - ], - "feedback": [ - "Exactly**.** It's interesting to think about how the qualities of different materials, such as gold's durability and rarity, can make them more valuable and desirable as a form of money. Good job", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! While gold may have a certain aesthetic appeal, it's ultimately its functional qualities that make it a valuable form of money. Better luck with your next answer." - ], - "id": "convergingOnGold", - "question": "Why did the free market choose gold as a form of money", - "text": "From all monetary metals, the free market ultimately chose gold as a form of money because it has two important qualities that keep its value stable over long periods of time and across many regions of the world:\n\n1\\) Gold cannot be destroyed, and\n\n2\\) Gold cannot be made from other materials.\n", - "title": "Convergence on Gold", - "type": "Text" + "convergingOnGold": { + "title": "Convergence on Gold", + "questions": { + "convergingOnGold": { + "answers": [ + "Because it cannot be destroyed or synthesized from other materials.", + "Because it is abundant and easy to find.", + "Because it is the most attractive and visually appealing metal." + ], + "feedback": [ + "Exactly**.** It's interesting to think about how the qualities of different materials, such as gold's durability and rarity, can make them more valuable and desirable as a form of money. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! While gold may have a certain aesthetic appeal, it's ultimately its functional qualities that make it a valuable form of money. Better luck with your next answer." + ], + "question": "Why did the free market choose gold as a form of money", + "text": "From all monetary metals, the free market ultimately chose gold as a form of money because it has two important qualities that keep its value stable over long periods of time and across many regions of the world:\n\n1\\) Gold cannot be destroyed, and\n\n2\\) Gold cannot be made from other materials.\n", + "title": "Why did the free market choose gold as a form of money" + } + } + } } diff --git a/chapter-205-the-evolution-of-money-iii/205.02-lesson-origins-of-paper-money.json b/chapter-205-the-evolution-of-money-iii/205.02-lesson-origins-of-paper-money.json index 2cdcd2a..4b7ee2c 100644 --- a/chapter-205-the-evolution-of-money-iii/205.02-lesson-origins-of-paper-money.json +++ b/chapter-205-the-evolution-of-money-iii/205.02-lesson-origins-of-paper-money.json @@ -1,17 +1,22 @@ { - "answers": [ - "To allow for the convenient exchange of gold in place of physically transporting it", - "To represent a promise to pay a debt", - "To transport large amounts of gold" - ], - "feedback": [ - "Congratulations! You're a gold exchange genius! Did you know that these paper notes were also known as \"bearer instruments,\" which means that they could be traded and redeemed by anyone in possession of them", - "Oh no, it looks like you've got a case of promissory confusion! Better luck next time", - "Transporting gold in paper form? That's a bold move." - ], - "id": "originsOfPaperMoney", - "question": "What were paper notes used for during the expansion of trade routes", - "text": "Gold can be made into coins or bars of a specific weight and purity. When trade routes expanded, it became riskier to transport large amounts of gold.\n\nAs a solution, paper notes from trusted banks that could be exchanged for gold were used. In 900 CE, Chinese merchants initiated the use of paper currency to avoid having to carry thousands of coins over long distances. They started trading paper receipts from custodians where they had deposited money or goods.\n\nIn the beginning these paper notes were personally registered, but they soon became a written order to pay the amount to whomever had it in their possession (bearer instrument). These notes can be seen as a predecessor to today's banknotes.\n", - "title": "The Origins of Paper Money Backed by Gold", - "type": "Text" + "originsOfPaperMoney": { + "title": "The Origins of Paper Money Backed by Gold", + "questions": { + "originsOfPaperMoney": { + "answers": [ + "To allow for the convenient exchange of gold in place of physically transporting it", + "To represent a promise to pay a debt", + "To transport large amounts of gold" + ], + "feedback": [ + "Congratulations! You're a gold exchange genius! Did you know that these paper notes were also known as \"bearer instruments,\" which means that they could be traded and redeemed by anyone in possession of them", + "Oh no, it looks like you've got a case of promissory confusion! Better luck next time", + "Transporting gold in paper form? That's a bold move." + ], + "question": "What were paper notes used for during the expansion of trade routes", + "text": "Gold can be made into coins or bars of a specific weight and purity. When trade routes expanded, it became riskier to transport large amounts of gold.\n\nAs a solution, paper notes from trusted banks that could be exchanged for gold were used. In 900 CE, Chinese merchants initiated the use of paper currency to avoid having to carry thousands of coins over long distances. They started trading paper receipts from custodians where they had deposited money or goods.\n\nIn the beginning these paper notes were personally registered, but they soon became a written order to pay the amount to whomever had it in their possession (bearer instrument). These notes can be seen as a predecessor to today's banknotes.\n", + "title": "What were paper notes used for during the expansion of trade routes" + } + } + } } diff --git a/chapter-205-the-evolution-of-money-iii/205.03-lesson-fractional-reserve.json b/chapter-205-the-evolution-of-money-iii/205.03-lesson-fractional-reserve.json index d22ff54..40986a1 100644 --- a/chapter-205-the-evolution-of-money-iii/205.03-lesson-fractional-reserve.json +++ b/chapter-205-the-evolution-of-money-iii/205.03-lesson-fractional-reserve.json @@ -1,17 +1,22 @@ { - "answers": [ - "To allow people to earn money from their gold", - "To make it easier for banks to hold large amounts of gold", - "To make it easier for banks to make loans" - ], - "feedback": [ - "Congratulations! You're a banking history expert! Did you know that Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans", - "Hmm, it looks like you're a little off the mark. Better luck next time", - "Sorry, but it looks like you're mixing up your banking systems. Better luck next time!" - ], - "id": "fractionalReserve", - "question": "Why did Fractional Reserve Banking develop", - "text": "Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans.\n\nOne reason this system developed is because people wanted to earn money from their gold, rather than paying to store it.\n\nThey could do this by allowing a bank or vault to lend out their gold and receiving interest payment in return.\n\nIf more people deposited their gold than wanted to take it back, the bank could make more profit by using the same gold as collateral for multiple loans, hence keeping only a fraction of loans in reserve.\n", - "title": "The Invention of Fractional Reserve Banking", - "type": "Text" + "fractionalReserve": { + "title": "The Invention of Fractional Reserve Banking", + "questions": { + "fractionalReserve": { + "answers": [ + "To allow people to earn money from their gold", + "To make it easier for banks to hold large amounts of gold", + "To make it easier for banks to make loans" + ], + "feedback": [ + "Congratulations! You're a banking history expert! Did you know that Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans", + "Hmm, it looks like you're a little off the mark. Better luck next time", + "Sorry, but it looks like you're mixing up your banking systems. Better luck next time!" + ], + "question": "Why did Fractional Reserve Banking develop", + "text": "Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans.\n\nOne reason this system developed is because people wanted to earn money from their gold, rather than paying to store it.\n\nThey could do this by allowing a bank or vault to lend out their gold and receiving interest payment in return.\n\nIf more people deposited their gold than wanted to take it back, the bank could make more profit by using the same gold as collateral for multiple loans, hence keeping only a fraction of loans in reserve.\n", + "title": "Why did Fractional Reserve Banking develop" + } + } + } } diff --git a/chapter-205-the-evolution-of-money-iii/205.04-lesson-bank-run.json b/chapter-205-the-evolution-of-money-iii/205.04-lesson-bank-run.json index 31f9912..99792f9 100644 --- a/chapter-205-the-evolution-of-money-iii/205.04-lesson-bank-run.json +++ b/chapter-205-the-evolution-of-money-iii/205.04-lesson-bank-run.json @@ -1,17 +1,22 @@ { - "answers": [ - "A sudden drain of deposits en masse, leading to systemic fears and drying up of liquidity", - "A nice vacation for everyone", - "A sudden increase in the price of gasoline" - ], - "feedback": [ - "masse, leading to systemic fears and drying up of liquidity", - "Sorry, taking a vacation isn't quite the outcome we're looking for here. Better luck next time", - "Gas prices might fluctuate for a variety of reasons, but this particular scenario doesn't have much to do with it. Try again!" - ], - "id": "bankRun", - "question": "What is a potential outcome of banks issuing more paper notes than they held deposits", - "text": "Banks sometimes issued more paper notes than they had deposits, which could cause problems in the economy. If people started to doubt the solvency of a bank, they might rush to withdraw their money all at once before others do. This is called a bank run.\n\nThe sudden loss of deposits from the bank run could reveal that the bank was using too much leverage through Fractional Reserve Banking. This could cause a lack of liquidity and bring the whole financial system to a stop.\n", - "title": "Problems of Fractional Reserve Banking", - "type": "Text" + "bankRun": { + "title": "Problems of Fractional Reserve Banking", + "questions": { + "bankRun": { + "answers": [ + "A sudden drain of deposits en masse, leading to systemic fears and drying up of liquidity", + "A nice vacation for everyone", + "A sudden increase in the price of gasoline" + ], + "feedback": [ + "masse, leading to systemic fears and drying up of liquidity", + "Sorry, taking a vacation isn't quite the outcome we're looking for here. Better luck next time", + "Gas prices might fluctuate for a variety of reasons, but this particular scenario doesn't have much to do with it. Try again!" + ], + "question": "What is a potential outcome of banks issuing more paper notes than they held deposits", + "text": "Banks sometimes issued more paper notes than they had deposits, which could cause problems in the economy. If people started to doubt the solvency of a bank, they might rush to withdraw their money all at once before others do. This is called a bank run.\n\nThe sudden loss of deposits from the bank run could reveal that the bank was using too much leverage through Fractional Reserve Banking. This could cause a lack of liquidity and bring the whole financial system to a stop.\n", + "title": "What is a potential outcome of banks issuing more paper notes than they held deposits" + } + } + } } diff --git a/chapter-205-the-evolution-of-money-iii/205.05-lesson-modern-central-banking.json b/chapter-205-the-evolution-of-money-iii/205.05-lesson-modern-central-banking.json index e95f6cb..d749a47 100644 --- a/chapter-205-the-evolution-of-money-iii/205.05-lesson-modern-central-banking.json +++ b/chapter-205-the-evolution-of-money-iii/205.05-lesson-modern-central-banking.json @@ -1,17 +1,22 @@ { - "answers": [ - "To create a unified national currency and provide a backup plan for other banks", - "To sell ice cream and provide a place for people to play games", - "To act as a personal stylist and wardrobe consultant for the royal family" - ], - "feedback": [ - "Congratulations, you got it right! Did you know that central banks also act as the \"lender of last resort,\" meaning they can give out money when needed to make sure people's deposits are secure", - "I'm sorry, but central banks do not sell ice cream or provide a place for people to play games. They have much more important responsibilities", - "I'm afraid you are mistaken. Central banks do not act as personal stylists or wardrobe consultants for the royal family. Try again!" - ], - "id": "modernCentralBanking", - "question": "What is the purpose of a central bank", - "text": "To counter the problem of bank runs, governments created their own banks called \"central banks.\"\n\nThese central banks have the special power to create money. They act as a backup plan for when commercial banks run out of reserves and need extra money to stay open.\n\nBecause of this function, central banks are also called the \"lenders of last resort,\" meaning they can create and give out money when commercial banks need liquidity to service withdrawals.\n", - "title": "Modern Central Banking", - "type": "Text" + "modernCentralBanking": { + "title": "Modern Central Banking", + "questions": { + "modernCentralBanking": { + "answers": [ + "To create a unified national currency and provide a backup plan for other banks", + "To sell ice cream and provide a place for people to play games", + "To act as a personal stylist and wardrobe consultant for the royal family" + ], + "feedback": [ + "Congratulations, you got it right! Did you know that central banks also act as the \"lender of last resort,\" meaning they can give out money when needed to make sure people's deposits are secure", + "I'm sorry, but central banks do not sell ice cream or provide a place for people to play games. They have much more important responsibilities", + "I'm afraid you are mistaken. Central banks do not act as personal stylists or wardrobe consultants for the royal family. Try again!" + ], + "question": "What is the purpose of a central bank", + "text": "To counter the problem of bank runs, governments created their own banks called \"central banks.\"\n\nThese central banks have the special power to create money. They act as a backup plan for when commercial banks run out of reserves and need extra money to stay open.\n\nBecause of this function, central banks are also called the \"lenders of last resort,\" meaning they can create and give out money when commercial banks need liquidity to service withdrawals.\n", + "title": "What is the purpose of a central bank" + } + } + } } diff --git a/chapter-205-the-evolution-of-money-iii/205.06-lesson-gold-backed.json b/chapter-205-the-evolution-of-money-iii/205.06-lesson-gold-backed.json index dbb9c9a..d74ad60 100644 --- a/chapter-205-the-evolution-of-money-iii/205.06-lesson-gold-backed.json +++ b/chapter-205-the-evolution-of-money-iii/205.06-lesson-gold-backed.json @@ -1,17 +1,22 @@ { - "answers": [ - "It made it difficult for governments to borrow money", - "It made it hard for people to save money in the bank", - "It required governments to hold a petting zoo in their treasury" - ], - "feedback": [ - "Yep! The gold standard made it difficult for governments to borrow money because they had to hold a certain amount of gold in reserve in order to issue a certain amount of currency", - "I'm sorry, but the gold standard did not make it hard for people to save money in the bank. It was actually a problem for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves", - "An amusing idea, but nonsense nevertheless! Try again." - ], - "id": "goldBacked", - "question": "What was the main problem with the gold standard system for governments and citizens", - "text": "In the past, some governments linked the value of their currency to a specific amount of gold, a system known as a \"gold standard.\" This meant that the government had to hold a certain amount of gold in reserve in order to issue a certain amount of currency.\n\nThis system limited the government's ability to borrow money because they could not simply print more currency to cover the cost of borrowing. Governments often borrowed money to finance wars or other expensive projects, but the gold standard made it difficult for them to do so without first accumulating enough gold to back the new currency they wanted to issue.\n\nThe gold standard was also problematic for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves.\n", - "title": "From Gold to Gold-Backed", - "type": "Text" + "goldBacked": { + "title": "From Gold to Gold-Backed", + "questions": { + "goldBacked": { + "answers": [ + "It made it difficult for governments to borrow money", + "It made it hard for people to save money in the bank", + "It required governments to hold a petting zoo in their treasury" + ], + "feedback": [ + "Yep! The gold standard made it difficult for governments to borrow money because they had to hold a certain amount of gold in reserve in order to issue a certain amount of currency", + "I'm sorry, but the gold standard did not make it hard for people to save money in the bank. It was actually a problem for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves", + "An amusing idea, but nonsense nevertheless! Try again." + ], + "question": "What was the main problem with the gold standard system for governments and citizens", + "text": "In the past, some governments linked the value of their currency to a specific amount of gold, a system known as a \"gold standard.\" This meant that the government had to hold a certain amount of gold in reserve in order to issue a certain amount of currency.\n\nThis system limited the government's ability to borrow money because they could not simply print more currency to cover the cost of borrowing. Governments often borrowed money to finance wars or other expensive projects, but the gold standard made it difficult for them to do so without first accumulating enough gold to back the new currency they wanted to issue.\n\nThe gold standard was also problematic for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves.\n", + "title": "What was the main problem with the gold standard system for governments and citizens" + } + } + } } diff --git a/chapter-205-the-evolution-of-money-iii/205.07-lesson-bretton-woords.json b/chapter-205-the-evolution-of-money-iii/205.07-lesson-bretton-woords.json index 0bb8574..4bb1031 100644 --- a/chapter-205-the-evolution-of-money-iii/205.07-lesson-bretton-woords.json +++ b/chapter-205-the-evolution-of-money-iii/205.07-lesson-bretton-woords.json @@ -1,17 +1,22 @@ { - "answers": [ - "To link the value of other countries' currencies to the value of gold through the US dollar", - "To create a new global currency made out of chocolate coins", - "To establish a network of trampoline parks in every major city" - ], - "feedback": [ - "That's right. The Bretton Woods system was established after World War II in order to address global economic instability and high levels of debt. It linked the value of other countries' currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate", - "Sweet idea, but not very practical. Or would you prefer your money to melt away even faster? Try again", - "Trampoline parks would have surely made for a great distraction of the public from the strange machinations of the Bretton Woods system. Have you considered applying as an advisor at the IMF or World Bank? Try again!" - ], - "id": "brettonWoods", - "question": "What was the main purpose of the Bretton Woods system", - "text": "After World War I and II, many countries were financially exhausted and did not have a lot of money. The United States had a lot of gold because they sold a lot of weapons and other military equipment to other countries during the wars. As a result, the United States controlled about two-thirds of the world's gold.\n\nIn order to fix the global economy, a new system was created where countries would link their own currencies to the value of the US dollar.\n\nThe US dollar, in turn, would be linked to the value of gold. This meant that the value of other countries' currencies would be based on the value of the US dollar, which was based on the amount of gold the United States had.\n", - "title": "The Bretton Woods System", - "type": "Text" + "brettonWoods": { + "title": "The Bretton Woods System", + "questions": { + "brettonWoods": { + "answers": [ + "To link the value of other countries' currencies to the value of gold through the US dollar", + "To create a new global currency made out of chocolate coins", + "To establish a network of trampoline parks in every major city" + ], + "feedback": [ + "That's right. The Bretton Woods system was established after World War II in order to address global economic instability and high levels of debt. It linked the value of other countries' currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate", + "Sweet idea, but not very practical. Or would you prefer your money to melt away even faster? Try again", + "Trampoline parks would have surely made for a great distraction of the public from the strange machinations of the Bretton Woods system. Have you considered applying as an advisor at the IMF or World Bank? Try again!" + ], + "question": "What was the main purpose of the Bretton Woods system", + "text": "After World War I and II, many countries were financially exhausted and did not have a lot of money. The United States had a lot of gold because they sold a lot of weapons and other military equipment to other countries during the wars. As a result, the United States controlled about two-thirds of the world's gold.\n\nIn order to fix the global economy, a new system was created where countries would link their own currencies to the value of the US dollar.\n\nThe US dollar, in turn, would be linked to the value of gold. This meant that the value of other countries' currencies would be based on the value of the US dollar, which was based on the amount of gold the United States had.\n", + "title": "What was the main purpose of the Bretton Woods system" + } + } + } } diff --git a/chapter-205-the-evolution-of-money-iii/205.08-lesson-global-reserve.json b/chapter-205-the-evolution-of-money-iii/205.08-lesson-global-reserve.json index 7da93ec..0c1ad3b 100644 --- a/chapter-205-the-evolution-of-money-iii/205.08-lesson-global-reserve.json +++ b/chapter-205-the-evolution-of-money-iii/205.08-lesson-global-reserve.json @@ -1,17 +1,22 @@ { - "answers": [ - "A type of money that is widely used in international trade and financial transactions", - "A currency made out of rainbow-colored paper and glitter", - "The currency of the nation that pays the biggest share of the World Trade Organization's budget" - ], - "feedback": [ - "Correct! A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted", - "While most banknotes are made of colorful pieces of paper with strings of glitter as security features in them, this is not what defines a global reserve currency. Try again", - "Surely this would benefit the WTO's funding immensely, but this is not how the global reserve currency is defined or chosen. Try again!" - ], - "id": "globalReserve", - "question": "What is a global reserve currency", - "text": "A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted.\n\nChanges to the global reserve currency can have significant geopolitical implications, as it can affect the balance of power between countries.\n\nThe dominant global reserve currency has typically had a lifespan of several decades, with the US dollar serving as the dominant global reserve currency for much of the 20th century.\n", - "title": "The Global Reserve Currency", - "type": "Text" + "globalReserve": { + "title": "The Global Reserve Currency", + "questions": { + "globalReserve": { + "answers": [ + "A type of money that is widely used in international trade and financial transactions", + "A currency made out of rainbow-colored paper and glitter", + "The currency of the nation that pays the biggest share of the World Trade Organization's budget" + ], + "feedback": [ + "Correct! A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted", + "While most banknotes are made of colorful pieces of paper with strings of glitter as security features in them, this is not what defines a global reserve currency. Try again", + "Surely this would benefit the WTO's funding immensely, but this is not how the global reserve currency is defined or chosen. Try again!" + ], + "question": "What is a global reserve currency", + "text": "A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted.\n\nChanges to the global reserve currency can have significant geopolitical implications, as it can affect the balance of power between countries.\n\nThe dominant global reserve currency has typically had a lifespan of several decades, with the US dollar serving as the dominant global reserve currency for much of the 20th century.\n", + "title": "What is a global reserve currency" + } + } + } } diff --git a/chapter-206-the-evolution-of-money-iv/206-combined.json b/chapter-206-the-evolution-of-money-iv/206-combined.json index c57ea74..911ca34 100644 --- a/chapter-206-the-evolution-of-money-iv/206-combined.json +++ b/chapter-206-the-evolution-of-money-iv/206-combined.json @@ -1,144 +1,178 @@ -{ - "content": [ - { - "answers": [ - "It ended and was replaced by a new monetary system based on floating exchange rates", - "It became a popular TV game show", - "It was turned into a giant roller coaster ride" - ], - "feedback": [ - "Correct! In 1971, President Nixon directed the US Treasury Secretary to stop allowing foreign governments to exchange their dollars for gold", - "Not quite, but a game show version of the Bretton Woods system sounds like it could be entertaining", - "I see what you did there, but this isn't the correct answer here. Try again!" - ], - "id": "nixonShock", - "question": "What happened to the Bretton Woods system in 1971", - "text": "The Bretton Woods system was a monetary system established after World War II in order to address global economic instability and high levels of debt.\n\nUnder this system, many countries pegged their own currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate. This meant that the value of other countries' currencies was indirectly tied to the value of gold through the US dollar.\n\nIn 1971, United States President Richard Nixon directed the US Treasury to stop allowing foreign governments to exchange their dollars for gold, a process known as \"convertibility.\"\n\nThe sudden end of convertibility of dollars for gold shocked the world and became known as the Nixon Shock, effectively ending the Bretton Woods system fixed exchange rates. It marked the beginning of a new monetary system based on floating exchange rates.\n", +[ + { + "nixonShock": { "title": "The Nixon Shock", - "type": "Text" - }, - { - "answers": [ - "A currency issued by a government decree", - "A type of currency that is only accepted by merchants who love pizza", - "A currency made out of precious gems and metals" - ], - "feedback": [ - "Good job. Fiat money, such as Federal Reserve notes, is a type of currency issued by a government that is not directly exchangeable for a fixed amount of something else, like gold or silver. Its value comes from the fact that the government says it is valuable and people trust that they will be able to use it to buy things", - "Not quite, but a currency that is only accepted by pizza-loving merchants sounds like it could be a delicious way to pay for things", - "Nope, but a currency made out of precious gems and metals would definitely be shiny and eye-catching." - ], - "id": "fiatEra", - "question": "What does the word \"fiat\" mean when it is used to talk about money", - "text": "\"Fiat\" is a word that comes from Latin and means \"let it be done.\" When it is used to talk about money, it means that a government is creating a currency by decree alone.\n\nSince the Nixon Shock, fiat money is not backed by gold or silver and neither can it be directly converted for a fixed amount of gold, as it used to be before.\n\nThis means that their value comes from the fact that the government says they are valuable and that people trust that they will be able to use them to buy things.\n\nIn addition, governments often make it a law (legal tender) that merchants have to accept this type of fiat currency and that it is the only type of currency that can be used to pay taxes.\n", + "questions": { + "nixonShock": { + "answers": [ + "It ended and was replaced by a new monetary system based on floating exchange rates", + "It became a popular TV game show", + "It was turned into a giant roller coaster ride" + ], + "feedback": [ + "Correct! In 1971, President Nixon directed the US Treasury Secretary to stop allowing foreign governments to exchange their dollars for gold", + "Not quite, but a game show version of the Bretton Woods system sounds like it could be entertaining", + "I see what you did there, but this isn't the correct answer here. Try again!" + ], + "question": "What happened to the Bretton Woods system in 1971", + "text": "The Bretton Woods system was a monetary system established after World War II in order to address global economic instability and high levels of debt.\n\nUnder this system, many countries pegged their own currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate. This meant that the value of other countries' currencies was indirectly tied to the value of gold through the US dollar.\n\nIn 1971, United States President Richard Nixon directed the US Treasury to stop allowing foreign governments to exchange their dollars for gold, a process known as \"convertibility.\"\n\nThe sudden end of convertibility of dollars for gold shocked the world and became known as the Nixon Shock, effectively ending the Bretton Woods system fixed exchange rates. It marked the beginning of a new monetary system based on floating exchange rates.\n", + "title": "What happened to the Bretton Woods system in 1971" + } + } + } + }, + { + "fiatEra": { "title": "The Fiat Era", - "type": "Text" - }, - { - "answers": [ - "A government issued money that exists only in digital form, like on a computer or phone", - "A type of currency that can only be used to buy things in the internet", - "A currency that can only be sent by email" - ], - "feedback": [ - "Good job. Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins, and is becoming increasingly popular due to its lower costs, faster speeds, and increased capabilities for surveillance", - "Not quite. While digital fiat is digital like the internet, it is also widely accepted at brick and mortar merchants. Try again", - "Nope, you guessed wrong. The use of such a currency would be extremely limited and doesn't exist to our knowledge. Try again!" - ], - "id": "digitalFiat", - "question": "What is digital fiat", - "text": "Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins.\n\nDigital fiat became possible with the proliferation of digital communication networks, like the internet, and the growth of consumer devices like computers and phones that can connect to these networks. Standardized payment protocols, which are established ways of making payments online, also played a role in the emergence of digital fiat.\n\nDigital fiat is increasingly replacing physical fiat due to its lower costs, faster speeds, and increased capabilities for surveillance. In other words, it is cheaper and faster to use digital fiat and it is easier to track transactions made with digital fiat.\n", + "questions": { + "fiatEra": { + "answers": [ + "A currency issued by a government decree", + "A type of currency that is only accepted by merchants who love pizza", + "A currency made out of precious gems and metals" + ], + "feedback": [ + "Good job. Fiat money, such as Federal Reserve notes, is a type of currency issued by a government that is not directly exchangeable for a fixed amount of something else, like gold or silver. Its value comes from the fact that the government says it is valuable and people trust that they will be able to use it to buy things", + "Not quite, but a currency that is only accepted by pizza-loving merchants sounds like it could be a delicious way to pay for things", + "Nope, but a currency made out of precious gems and metals would definitely be shiny and eye-catching." + ], + "question": "What does the word \"fiat\" mean when it is used to talk about money", + "text": "\"Fiat\" is a word that comes from Latin and means \"let it be done.\" When it is used to talk about money, it means that a government is creating a currency by decree alone.\n\nSince the Nixon Shock, fiat money is not backed by gold or silver and neither can it be directly converted for a fixed amount of gold, as it used to be before.\n\nThis means that their value comes from the fact that the government says they are valuable and that people trust that they will be able to use them to buy things.\n\nIn addition, governments often make it a law (legal tender) that merchants have to accept this type of fiat currency and that it is the only type of currency that can be used to pay taxes.\n", + "title": "What does the word \"fiat\" mean when it is used to talk about money" + } + } + } + }, + { + "digitalFiat": { "title": "Digital Fiat", - "type": "Text" - }, - { - "answers": [ - "A type of payment card that allows people to borrow money to pay for things", - "A card that grants the holder special powers, like the ability to fly", - "A card that allows people to pay for things by waving their hand over a sensor" - ], - "feedback": [ - "Correct. A credit card is a type of payment card that allows people to borrow money from the credit card company to pay for things now, rather than saving up money to pay for things later. There are about three billion credit cards in use around the world today", - "Not quite, but a credit card that grants special powers like the ability to fly sounds like it could be a lot of fun", - "Nope, but a credit card that allows people to pay for things by waving their hand over a sensor sounds like something out of a science fiction movie, not real life." - ], - "id": "plasticCredit", - "question": "What is a credit card", - "text": "The credit card is a type of payment card that allows people to borrow money to pay for things. When people use credit cards, they are borrowing money from the credit card company to pay for things now, rather than saving up money to pay for things later.\n\nThis has gradually normalized the act of borrowing for consumption, something that impacts the time preference of users. Instead of waiting to save up the money, the invention of credit cards has made it more common for people to borrow money to buy things they want right away\n\nToday, there are about three billion credit cards in use around the world.\n", + "questions": { + "digitalFiat": { + "answers": [ + "A government issued money that exists only in digital form, like on a computer or phone", + "A type of currency that can only be used to buy things in the internet", + "A currency that can only be sent by email" + ], + "feedback": [ + "Good job. Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins, and is becoming increasingly popular due to its lower costs, faster speeds, and increased capabilities for surveillance", + "Not quite. While digital fiat is digital like the internet, it is also widely accepted at brick and mortar merchants. Try again", + "Nope, you guessed wrong. The use of such a currency would be extremely limited and doesn't exist to our knowledge. Try again!" + ], + "question": "What is digital fiat", + "text": "Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins.\n\nDigital fiat became possible with the proliferation of digital communication networks, like the internet, and the growth of consumer devices like computers and phones that can connect to these networks. Standardized payment protocols, which are established ways of making payments online, also played a role in the emergence of digital fiat.\n\nDigital fiat is increasingly replacing physical fiat due to its lower costs, faster speeds, and increased capabilities for surveillance. In other words, it is cheaper and faster to use digital fiat and it is easier to track transactions made with digital fiat.\n", + "title": "What is digital fiat" + } + } + } + }, + { + "plasticCredit": { "title": "Plastic Credit", - "type": "Text" - }, - { - "answers": [ - "The ability to ensure that the same digital unit of money cannot be spent more than once by its owner", - "The desire to create a digital currency that could only be spent on Mars", - "The idea of rewarding honesty and making dishonesty very costly" - ], - "feedback": [ - "Good job. In the digital world, where it is easy to copy things, it is important to make sure that the same digital unit of money (like a digital coin) cannot be spent more than once by its owner. This was a key factor in the creation of Bitcoin, as it is important for a monetary system that works without a central authority (like a government)", - "Not quite, but a digital currency that could only be spent on Mars sounds like it could be a fun way to support the colonization of the red planet", - "Nope, but the idea of rewarding honesty and making dishonesty very costly is a key factor in the creation of any monetary system, as it helps to ensure trust and cooperation among participants." - ], - "id": "doubleSpendProblem", - "question": "What was a key factor in the creation of Bitcoin", - "text": "In the digital world, it is easy to copy things, so it is important to make sure that the same digital unit of money cannot be spent more than once by its owner.\n\nIn a monetary system with a central authority (like a government), this problem is trivially solved by keeping a ledger of transactions managed by the central authority. However, this normally represents a single point of failure from both availability and trust viewpoints.\n\nIn a decentralized system, the double-spending problem is significantly harder to solve. Many people have tried to create digital money that is not controlled by a government, but they have all had their own unique challenges.\n\nSatoshi Nakamoto took all of these lessons into account and was the first to solve the double spending problem with the implementation of Bitcoin by creating a decentralized system that rewards honesty and makes it very costly to be dishonest.\n", + "questions": { + "plasticCredit": { + "answers": [ + "A type of payment card that allows people to borrow money to pay for things", + "A card that grants the holder special powers, like the ability to fly", + "A card that allows people to pay for things by waving their hand over a sensor" + ], + "feedback": [ + "Correct. A credit card is a type of payment card that allows people to borrow money from the credit card company to pay for things now, rather than saving up money to pay for things later. There are about three billion credit cards in use around the world today", + "Not quite, but a credit card that grants special powers like the ability to fly sounds like it could be a lot of fun", + "Nope, but a credit card that allows people to pay for things by waving their hand over a sensor sounds like something out of a science fiction movie, not real life." + ], + "question": "What is a credit card", + "text": "The credit card is a type of payment card that allows people to borrow money to pay for things. When people use credit cards, they are borrowing money from the credit card company to pay for things now, rather than saving up money to pay for things later.\n\nThis has gradually normalized the act of borrowing for consumption, something that impacts the time preference of users. Instead of waiting to save up the money, the invention of credit cards has made it more common for people to borrow money to buy things they want right away\n\nToday, there are about three billion credit cards in use around the world.\n", + "title": "What is a credit card" + } + } + } + }, + { + "doubleSpendProblem": { "title": "The Double Spending Problem", - "type": "Text" - }, - { - "answers": [ - "The double spending problem", - "The problem of double coincidence of wants", - "The halving problem" - ], - "feedback": [ - "Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once", - "Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again", - "Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!" - ], - "id": "satoshisBreakthrough", - "question": "Which problem did Satoshi have to solve to create Bitcoin", - "text": "Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.\n\nHis solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.\n", + "questions": { + "doubleSpendProblem": { + "answers": [ + "The ability to ensure that the same digital unit of money cannot be spent more than once by its owner", + "The desire to create a digital currency that could only be spent on Mars", + "The idea of rewarding honesty and making dishonesty very costly" + ], + "feedback": [ + "Good job. In the digital world, where it is easy to copy things, it is important to make sure that the same digital unit of money (like a digital coin) cannot be spent more than once by its owner. This was a key factor in the creation of Bitcoin, as it is important for a monetary system that works without a central authority (like a government)", + "Not quite, but a digital currency that could only be spent on Mars sounds like it could be a fun way to support the colonization of the red planet", + "Nope, but the idea of rewarding honesty and making dishonesty very costly is a key factor in the creation of any monetary system, as it helps to ensure trust and cooperation among participants." + ], + "question": "What was a key factor in the creation of Bitcoin", + "text": "In the digital world, it is easy to copy things, so it is important to make sure that the same digital unit of money cannot be spent more than once by its owner.\n\nIn a monetary system with a central authority (like a government), this problem is trivially solved by keeping a ledger of transactions managed by the central authority. However, this normally represents a single point of failure from both availability and trust viewpoints.\n\nIn a decentralized system, the double-spending problem is significantly harder to solve. Many people have tried to create digital money that is not controlled by a government, but they have all had their own unique challenges.\n\nSatoshi Nakamoto took all of these lessons into account and was the first to solve the double spending problem with the implementation of Bitcoin by creating a decentralized system that rewards honesty and makes it very costly to be dishonest.\n", + "title": "What was a key factor in the creation of Bitcoin" + } + } + } + }, + { + "satoshisBreakthrough": { "title": "Satoshi's Breakthrough", - "type": "Text" - }, - { - "answers": [ - "Digital fiat money is based on a product from the industrial age, while Bitcoin is a purpose-built money for the digital age", - "Digital fiat money is open-source, while Bitcoin is a closed system", - "Digital fiat money is designed to increase in value over time, while Bitcoin is designed to lose value" - ], - "feedback": [ - "for the digital age", - "It seems you got things mixed up. It's actually the other way around. Try again", - "Sorry, that's not quite right. Bitcoin is likely to increase in value over time due to its strictly fixed supply and growing deman, while inflation decreases the value of fiat currencies quite reliably." - ], - "id": "nativelyDigital", - "question": "What is the main difference between digital fiat money and Bitcoin", - "text": "Digital fiat money is a digital version of a product that was designed for the industrial age. It has all of the same problems and limitations as the original product. It is a closed system that is heavily controlled and designed to lose value over time.\n\nBitcoin is a type of digital money that was specifically designed for the digital age. It can be improved and updated, and anyone can see and change the code that it is based on. It benefits from the ideas and creativity of anyone who works on it.\n", + "questions": { + "satoshisBreakthrough": { + "answers": [ + "The double spending problem", + "The problem of double coincidence of wants", + "The halving problem" + ], + "feedback": [ + "Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once", + "Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again", + "Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!" + ], + "question": "Which problem did Satoshi have to solve to create Bitcoin", + "text": "Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.\n\nHis solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.\n", + "title": "Which problem did Satoshi have to solve to create Bitcoin" + } + } + } + }, + { + "nativelyDigital": { "title": "Purpose-built for the Digital Age", - "type": "Text" - }, - { - "answers": [ - "To provide surveillance and censorship capabilities to the issuer", - "To compete with Bitcoin as a store of value", - "To create a decentralized and permissionless digital currency" - ], - "feedback": [ - "That's correct! CBDCs are like the Big Brother of digital currencies, designed to provide surveillance and censorship capabilities to the issuer. Creepy, but correct", - "Haha, sorry but no. While Bitcoin and CBDCs are both digital currencies, they have very different purposes and characteristics. CBDCs are issued and backed by central banks, while Bitcoin is decentralized and not controlled by any government or financial institution", - "Oh boy, that's a creative answer but unfortunately not quite right. CBDCs are not designed to be decentralized or permissionless like Bitcoin. In fact, they are issued and backed by central banks, and their main purpose is to be the ultimate tool for control in the digital age. Better luck next time!" - ], - "id": "CBDCs", - "question": "What is the main purpose of central bank digital currencies (CBDCs)", - "text": "Central bank digital currencies (CBDCs) are digital versions of traditional currency that are issued and backed by a central bank.\n\nCBDCs are not decentralized or permissionless like Bitcoin, and are instead intended to compete with other forms of digital payment methods for market dominance.\n\nOne of the main reasons for the development of CBDCs is the surveillance and censorship capabilities they provide the issuer.\n\nAdditionally, in an age of negative real interest rates (when the inflation rate is higher than the interest rate), the widespread adoption of CBDCs often goes hand in hand with the phasing out of physical cash, which can lead to the devaluation of the currency in real terms.\n", + "questions": { + "nativelyDigital": { + "answers": [ + "Digital fiat money is based on a product from the industrial age, while Bitcoin is a purpose-built money for the digital age", + "Digital fiat money is open-source, while Bitcoin is a closed system", + "Digital fiat money is designed to increase in value over time, while Bitcoin is designed to lose value" + ], + "feedback": [ + "for the digital age", + "It seems you got things mixed up. It's actually the other way around. Try again", + "Sorry, that's not quite right. Bitcoin is likely to increase in value over time due to its strictly fixed supply and growing deman, while inflation decreases the value of fiat currencies quite reliably." + ], + "question": "What is the main difference between digital fiat money and Bitcoin", + "text": "Digital fiat money is a digital version of a product that was designed for the industrial age. It has all of the same problems and limitations as the original product. It is a closed system that is heavily controlled and designed to lose value over time.\n\nBitcoin is a type of digital money that was specifically designed for the digital age. It can be improved and updated, and anyone can see and change the code that it is based on. It benefits from the ideas and creativity of anyone who works on it.\n", + "title": "What is the main difference between digital fiat money and Bitcoin" + } + } + } + }, + { + "CBDCs": { "title": "Central Bank Digital Currencies", - "type": "Text" + "questions": { + "CBDCs": { + "answers": [ + "To provide surveillance and censorship capabilities to the issuer", + "To compete with Bitcoin as a store of value", + "To create a decentralized and permissionless digital currency" + ], + "feedback": [ + "That's correct! CBDCs are like the Big Brother of digital currencies, designed to provide surveillance and censorship capabilities to the issuer. Creepy, but correct", + "Haha, sorry but no. While Bitcoin and CBDCs are both digital currencies, they have very different purposes and characteristics. CBDCs are issued and backed by central banks, while Bitcoin is decentralized and not controlled by any government or financial institution", + "Oh boy, that's a creative answer but unfortunately not quite right. CBDCs are not designed to be decentralized or permissionless like Bitcoin. In fact, they are issued and backed by central banks, and their main purpose is to be the ultimate tool for control in the digital age. Better luck next time!" + ], + "question": "What is the main purpose of central bank digital currencies (CBDCs)", + "text": "Central bank digital currencies (CBDCs) are digital versions of traditional currency that are issued and backed by a central bank.\n\nCBDCs are not decentralized or permissionless like Bitcoin, and are instead intended to compete with other forms of digital payment methods for market dominance.\n\nOne of the main reasons for the development of CBDCs is the surveillance and censorship capabilities they provide the issuer.\n\nAdditionally, in an age of negative real interest rates (when the inflation rate is higher than the interest rate), the widespread adoption of CBDCs often goes hand in hand with the phasing out of physical cash, which can lead to the devaluation of the currency in real terms.\n", + "title": "What is the main purpose of central bank digital currencies (CBDCs)" + } + } } - ], - "meta": { - "id": "TheEvolutionofMoneyIV", - "title": "The Evolution of Money IV" } -} +] diff --git a/chapter-206-the-evolution-of-money-iv/206-es-combined.json b/chapter-206-the-evolution-of-money-iv/206-es-combined.json deleted file mode 100644 index fd40d99..0000000 --- a/chapter-206-the-evolution-of-money-iv/206-es-combined.json +++ /dev/null @@ -1,144 +0,0 @@ -{ - "content": [ - { - "answers": [ - "Termin\u00f3 y fue reemplazado por un nuevo sistema monetario basado en tipos de cambio flotantes.", - "Se convirti\u00f3 en un popular programa de juegos de televisi\u00f3n.", - "Se convirti\u00f3 en una monta\u00f1a rusa gigante." - ], - "feedback": [ - "\u00a1Correcto! En 1971, el presidente Nixon orden\u00f3 al Secretario del Tesoro de Estados Unidos que dejara de permitir a los gobiernos extranjeros cambiar sus d\u00f3lares por oro.", - "No del todo, pero una versi\u00f3n de programa de juegos del sistema de Bretton Woods parece que podr\u00eda ser entretenida.", - "Veo lo que hiciste all\u00ed, pero esta no es la respuesta correcta aqu\u00ed. \u00a1Intentar otra vez!" - ], - "id": "nixonchoque", - "question": "\u00bfQu\u00e9 pas\u00f3 con el sistema de Bretton Woods en 1971?", - "text": "El sistema de Bretton Woods fue un sistema monetario establecido despu\u00e9s de la Segunda Guerra Mundial para abordar la inestabilidad econ\u00f3mica global y los altos niveles de deuda.\n\nBajo este sistema, muchos pa\u00edses vinculaban sus propias monedas al valor del d\u00f3lar estadounidense, que a su vez estaba vinculado al valor del oro a un tipo de cambio fijo. Esto signific\u00f3 que el valor de las monedas de otros pa\u00edses estaba indirectamente vinculado al valor del oro a trav\u00e9s del d\u00f3lar estadounidense.\n\nEn 1971, el presidente estadounidense Richard Nixon orden\u00f3 al Tesoro estadounidense que dejara de permitir a los gobiernos extranjeros cambiar sus d\u00f3lares por oro, un proceso conocido como \"convertibilidad\".\n\nEl repentino fin de la convertibilidad del d\u00f3lar por oro conmocion\u00f3 al mundo y se conoci\u00f3 como el Shock de Nixon, poniendo fin de hecho al sistema de tipos de cambio fijos de Bretton Woods. Marc\u00f3 el comienzo de un nuevo sistema monetario basado en tipos de cambio flotantes.\n", - "title": "El shock de Nixon", - "type": "Texto" - }, - { - "answers": [ - "Una moneda emitida por un decreto gubernamental.", - "Un tipo de moneda que s\u00f3lo aceptan los comerciantes amantes de la pizza", - "Una moneda hecha de gemas y metales preciosos." - ], - "feedback": [ - "Buen trabajo. El dinero fiduciario, como los billetes de la Reserva Federal, es un tipo de moneda emitida por un gobierno que no se puede cambiar directamente por una cantidad fija de otra cosa, como oro o plata. Su valor proviene del hecho de que el gobierno dice que es valioso y la gente conf\u00eda en que podr\u00e1n usarlo para comprar cosas.", - "No del todo, pero una moneda que s\u00f3lo aceptan los comerciantes amantes de las pizzas parece que podr\u00eda ser una forma deliciosa de pagar las cosas.", - "No, pero una moneda hecha de gemas y metales preciosos definitivamente ser\u00eda brillante y llamativa." - ], - "id": "fiatEra", - "question": "\u00bfQu\u00e9 significa la palabra \"fiat\" cuando se usa para hablar de dinero?", - "text": "\"Fiat\" es una palabra que proviene del lat\u00edn y significa \"h\u00e1gase\". Cuando se usa para hablar de dinero, significa que un gobierno est\u00e1 creando una moneda \u00fanicamente por decreto.\n\nDesde el shock de Nixon, el dinero fiduciario no est\u00e1 respaldado por oro o plata y tampoco puede convertirse directamente en una cantidad fija de oro, como sol\u00eda ser antes.\n\nEsto significa que su valor proviene del hecho de que el gobierno dice que son valiosos y que la gente conf\u00eda en que podr\u00e1 utilizarlos para comprar cosas.\n\nAdem\u00e1s, los gobiernos suelen convertir en ley (moneda de curso legal) que los comerciantes deben aceptar este tipo de moneda fiduciaria y que es el \u00fanico tipo de moneda que se puede utilizar para pagar impuestos.\n", - "title": "La era fiat", - "type": "Texto" - }, - { - "answers": [ - "Un dinero emitido por el gobierno que existe s\u00f3lo en forma digital, como en una computadora o un tel\u00e9fono.", - "Un tipo de moneda que s\u00f3lo se puede utilizar para comprar cosas en Internet.", - "Una moneda que s\u00f3lo se puede enviar por correo electr\u00f3nico" - ], - "feedback": [ - "Buen trabajo. El dinero fiduciario digital es un tipo de dinero que existe s\u00f3lo en forma digital, como en una computadora o un tel\u00e9fono. Es una representaci\u00f3n digital del efectivo f\u00edsico, como billetes o monedas, y se est\u00e1 volviendo cada vez m\u00e1s popular debido a sus costos m\u00e1s bajos, velocidades m\u00e1s r\u00e1pidas y mayores capacidades de vigilancia.", - "No exactamente. Si bien el dinero fiduciario digital es digital como Internet, tambi\u00e9n es ampliamente aceptado entre los comerciantes tradicionales. Intentar otra vez", - "No, adivinaste mal. El uso de dicha moneda ser\u00eda extremadamente limitado y, hasta donde sabemos, no existe. \u00a1Intentar otra vez!" - ], - "id": "digitalFiat", - "question": "\u00bfQu\u00e9 es el dinero fiduciario digital?", - "text": "El dinero fiduciario digital es un tipo de dinero que existe s\u00f3lo en forma digital, como en una computadora o un tel\u00e9fono. Es una representaci\u00f3n digital de efectivo f\u00edsico, como papel moneda o monedas.\n\nEl fiat digital se hizo posible con la proliferaci\u00f3n de redes de comunicaci\u00f3n digitales, como Internet, y el crecimiento de dispositivos de consumo como computadoras y tel\u00e9fonos que pueden conectarse a estas redes. Los protocolos de pago estandarizados, que son formas establecidas de realizar pagos en l\u00ednea, tambi\u00e9n desempe\u00f1aron un papel en el surgimiento del dinero fiduciario digital.\n\nEl fiat digital est\u00e1 reemplazando cada vez m\u00e1s al fiat f\u00edsico debido a sus menores costos, velocidades m\u00e1s r\u00e1pidas y mayores capacidades de vigilancia. En otras palabras, es m\u00e1s barato y r\u00e1pido utilizar dinero fiduciario digital y es m\u00e1s f\u00e1cil rastrear las transacciones realizadas con dinero fiduciario digital.\n", - "title": "F\u00edat digital", - "type": "Texto" - }, - { - "answers": [ - "Un tipo de tarjeta de pago que permite a las personas pedir dinero prestado para pagar cosas.", - "Una tarjeta que otorga a su poseedor poderes especiales, como la capacidad de volar.", - "Una tarjeta que permite pagar cosas moviendo la mano sobre un sensor" - ], - "feedback": [ - "Correcto. Una tarjeta de cr\u00e9dito es un tipo de tarjeta de pago que permite a las personas pedir dinero prestado a la compa\u00f1\u00eda de la tarjeta de cr\u00e9dito para pagar cosas ahora, en lugar de ahorrar dinero para pagarlas m\u00e1s tarde. Hoy en d\u00eda se utilizan alrededor de tres mil millones de tarjetas de cr\u00e9dito en todo el mundo.", - "No del todo, pero una tarjeta de cr\u00e9dito que otorga poderes especiales como la capacidad de volar parece que podr\u00eda ser muy divertida.", - "No, pero una tarjeta de cr\u00e9dito que permite a la gente pagar cosas moviendo la mano sobre un sensor suena como algo sacado de una pel\u00edcula de ciencia ficci\u00f3n, no de la vida real." - ], - "id": "pl\u00e1sticoCr\u00e9dito", - "question": "Qu\u00e9 es una tarjeta de cr\u00e9dito", - "text": "La tarjeta de cr\u00e9dito es un tipo de tarjeta de pago que permite a las personas pedir dinero prestado para pagar cosas. Cuando las personas usan tarjetas de cr\u00e9dito, est\u00e1n pidiendo dinero prestado a la compa\u00f1\u00eda de tarjetas de cr\u00e9dito para pagar cosas ahora, en lugar de ahorrar dinero para pagarlas m\u00e1s tarde.\n\nEsto ha ido normalizando paulatinamente el acto de endeudarse para consumo, algo que impacta en la preferencia temporal de los usuarios. En lugar de esperar para ahorrar dinero, la invenci\u00f3n de las tarjetas de cr\u00e9dito ha hecho que sea m\u00e1s com\u00fan que las personas pidan dinero prestado para comprar las cosas que desean de inmediato.\n\nHoy en d\u00eda se utilizan alrededor de tres mil millones de tarjetas de cr\u00e9dito en todo el mundo.\n", - "title": "Cr\u00e9dito Pl\u00e1stico", - "type": "Texto" - }, - { - "answers": [ - "La capacidad de garantizar que su propietario no pueda gastar la misma unidad digital de dinero m\u00e1s de una vez.", - "El deseo de crear una moneda digital que solo pueda gastarse en Marte", - "La idea de premiar la honestidad y hacer muy costosa la deshonestidad" - ], - "feedback": [ - "Buen trabajo. En el mundo digital, donde es f\u00e1cil copiar cosas, es importante asegurarse de que su propietario no pueda gastar la misma unidad digital de dinero (como una moneda digital) m\u00e1s de una vez. Este fue un factor clave en la creaci\u00f3n de Bitcoin, ya que es importante para un sistema monetario que funciona sin una autoridad central (como un gobierno).", - "No del todo, pero una moneda digital que solo podr\u00eda gastarse en Marte parece que podr\u00eda ser una forma divertida de apoyar la colonizaci\u00f3n del planeta rojo.", - "No, pero la idea de recompensar la honestidad y hacer que la deshonestidad sea muy costosa es un factor clave en la creaci\u00f3n de cualquier sistema monetario, ya que ayuda a garantizar la confianza y la cooperaci\u00f3n entre los participantes." - ], - "id": "doble gastoProblema", - "question": "\u00bfCu\u00e1l fue un factor clave en la creaci\u00f3n de Bitcoin?", - "text": "En el mundo digital, es f\u00e1cil copiar cosas, por lo que es importante asegurarse de que su propietario no pueda gastar la misma unidad digital de dinero m\u00e1s de una vez.\n\nEn un sistema monetario con una autoridad central (como un gobierno), este problema se resuelve trivialmente manteniendo un libro de transacciones administrado por la autoridad central. Sin embargo, esto normalmente representa un \u00fanico punto de falla tanto desde el punto de vista de la disponibilidad como de la confianza.\n\nEn un sistema descentralizado, el problema del doble gasto es mucho m\u00e1s dif\u00edcil de resolver. Muchas personas han intentado crear dinero digital que no est\u00e9 controlado por un gobierno, pero todos han tenido sus propios desaf\u00edos \u00fanicos.\n\nSatoshi Nakamoto tuvo en cuenta todas estas lecciones y fue el primero en resolver el problema del doble gasto con la implementaci\u00f3n de Bitcoin creando un sistema descentralizado que premia la honestidad y hace muy costoso ser deshonesto.\n", - "title": "El problema del doble gasto", - "type": "Texto" - }, - { - "answers": [ - "El problema del doble gasto", - "El problema de la doble coincidencia de deseos", - "El problema de la reducci\u00f3n a la mitad" - ], - "feedback": [ - "Buen trabajo. Bitcoin utiliza un mecanismo de consenso de prueba de trabajo en el que las transacciones se agrupan en bloques y se encadenan en una cadena de bloques. De esta manera, cada usuario sabe que cada moneda s\u00f3lo se gasta una vez.", - "No exactamente. La doble coincidencia de necesidades es un problema de trueque que se puede solucionar con dinero. Intentar otra vez", - "Ja no. \u00a1La reducci\u00f3n a la mitad de bitcoin no es un problema, sino parte de la soluci\u00f3n que dise\u00f1\u00f3 Satoshi! M\u00e1s sobre eso en el Cap\u00edtulo 302. \u00a1Int\u00e9ntalo de nuevo!" - ], - "id": "satoshisAvance", - "question": "\u00bfQu\u00e9 problema tuvo que resolver Satoshi para crear Bitcoin?", - "text": "La soluci\u00f3n de Satoshi al problema del doble gasto fue un gran avance en inform\u00e1tica y sistemas distribuidos. Hasta Bitcoin, muchos cre\u00edan que ser\u00eda irresoluble.\n\nSu soluci\u00f3n permiti\u00f3 a Satoshi desarrollar un nuevo sistema de efectivo electr\u00f3nico que por primera vez hizo posible que las personas se enviaran dinero digital directamente entre s\u00ed, sin necesidad de ayuda de un banco u otra organizaci\u00f3n.\n", - "title": "El avance de Satoshi", - "type": "Texto" - }, - { - "answers": [ - "El dinero fiduciario digital se basa en un producto de la era industrial, mientras que Bitcoin es un dinero creado espec\u00edficamente para la era digital.", - "El dinero fiduciario digital es de c\u00f3digo abierto, mientras que Bitcoin es un sistema cerrado", - "El dinero fiduciario digital est\u00e1 dise\u00f1ado para aumentar su valor con el tiempo, mientras que Bitcoin est\u00e1 dise\u00f1ado para perder valor" - ], - "feedback": [ - "para la era digital", - "Parece que confundiste las cosas. En realidad es al rev\u00e9s. Intentar otra vez", - "Lo siento, eso no est\u00e1 del todo bien. Es probable que Bitcoin aumente su valor con el tiempo debido a su oferta estrictamente fija y su creciente demanda, mientras que la inflaci\u00f3n disminuye el valor de las monedas fiduciarias de manera bastante confiable." - ], - "id": "de forma nativaDigital", - "question": "\u00bfCu\u00e1l es la principal diferencia entre el dinero fiduciario digital y Bitcoin?", - "text": "El dinero fiduciario digital es una versi\u00f3n digital de un producto dise\u00f1ado para la era industrial. Tiene los mismos problemas y limitaciones que el producto original. Es un sistema cerrado, fuertemente controlado y dise\u00f1ado para perder valor con el tiempo.\n\nBitcoin es un tipo de dinero digital dise\u00f1ado espec\u00edficamente para la era digital. Se puede mejorar y actualizar, y cualquiera puede ver y cambiar el c\u00f3digo en el que se basa. Se beneficia de las ideas y la creatividad de cualquiera que trabaje en \u00e9l.\n", - "title": "Dise\u00f1ado espec\u00edficamente para la era digital", - "type": "Texto" - }, - { - "answers": [ - "Proporcionar capacidades de vigilancia y censura al emisor.", - "Competir con Bitcoin como reserva de valor", - "Para crear una moneda digital descentralizada y sin permisos" - ], - "feedback": [ - "\u00a1Eso es correcto! Las CBDC son como el Gran Hermano de las monedas digitales, dise\u00f1adas para brindar capacidades de vigilancia y censura al emisor. Espeluznante, pero correcto", - "Jaja, lo siento pero no. Si bien Bitcoin y CBDC son monedas digitales, tienen prop\u00f3sitos y caracter\u00edsticas muy diferentes. Las CBDC son emitidas y respaldadas por bancos centrales, mientras que Bitcoin est\u00e1 descentralizado y no est\u00e1 controlado por ning\u00fan gobierno o instituci\u00f3n financiera.", - "Vaya, esa es una respuesta creativa pero desafortunadamente no del todo correcta. Las CBDC no est\u00e1n dise\u00f1adas para ser descentralizadas o sin permisos como Bitcoin. De hecho, son emitidos y respaldados por bancos centrales, y su objetivo principal es ser la herramienta definitiva de control en la era digital. \u00a1Mejor suerte la pr\u00f3xima vez!" - ], - "id": "CBDC", - "question": "\u00bfCu\u00e1l es el objetivo principal de las monedas digitales de los bancos centrales (CBDC)?", - "text": "Las monedas digitales del banco central (CBDC) son versiones digitales de la moneda tradicional emitidas y respaldadas por un banco central.\n\nLas CBDC no est\u00e1n descentralizadas ni carecen de permisos como Bitcoin, sino que est\u00e1n destinadas a competir con otras formas de m\u00e9todos de pago digitales por el dominio del mercado.\n\nUna de las principales razones para el desarrollo de las CBDC son las capacidades de vigilancia y censura que brindan al emisor.\n\nAdem\u00e1s, en una era de tipos de inter\u00e9s reales negativos (cuando la tasa de inflaci\u00f3n es superior a la tasa de inter\u00e9s), la adopci\u00f3n generalizada de CBDC suele ir de la mano de la eliminaci\u00f3n gradual del efectivo f\u00edsico, lo que puede conducir a la devaluaci\u00f3n de la moneda. En t\u00e9rminos reales.\n", - "title": "Monedas digitales del banco central", - "type": "Texto" - } - ], - "meta": { - "id": "La evoluci\u00f3n del dinero IV", - "title": "La evoluci\u00f3n del dinero IV" - } -} \ No newline at end of file diff --git a/chapter-206-the-evolution-of-money-iv/206.01-lesson-nixon-shock.json b/chapter-206-the-evolution-of-money-iv/206.01-lesson-nixon-shock.json index 1e1cb41..c68e006 100644 --- a/chapter-206-the-evolution-of-money-iv/206.01-lesson-nixon-shock.json +++ b/chapter-206-the-evolution-of-money-iv/206.01-lesson-nixon-shock.json @@ -1,17 +1,22 @@ { - "answers": [ - "It ended and was replaced by a new monetary system based on floating exchange rates", - "It became a popular TV game show", - "It was turned into a giant roller coaster ride" - ], - "feedback": [ - "Correct! In 1971, President Nixon directed the US Treasury Secretary to stop allowing foreign governments to exchange their dollars for gold", - "Not quite, but a game show version of the Bretton Woods system sounds like it could be entertaining", - "I see what you did there, but this isn't the correct answer here. Try again!" - ], - "id": "nixonShock", - "question": "What happened to the Bretton Woods system in 1971", - "text": "The Bretton Woods system was a monetary system established after World War II in order to address global economic instability and high levels of debt.\n\nUnder this system, many countries pegged their own currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate. This meant that the value of other countries' currencies was indirectly tied to the value of gold through the US dollar.\n\nIn 1971, United States President Richard Nixon directed the US Treasury to stop allowing foreign governments to exchange their dollars for gold, a process known as \"convertibility.\"\n\nThe sudden end of convertibility of dollars for gold shocked the world and became known as the Nixon Shock, effectively ending the Bretton Woods system fixed exchange rates. It marked the beginning of a new monetary system based on floating exchange rates.\n", - "title": "The Nixon Shock", - "type": "Text" + "nixonShock": { + "title": "The Nixon Shock", + "questions": { + "nixonShock": { + "answers": [ + "It ended and was replaced by a new monetary system based on floating exchange rates", + "It became a popular TV game show", + "It was turned into a giant roller coaster ride" + ], + "feedback": [ + "Correct! In 1971, President Nixon directed the US Treasury Secretary to stop allowing foreign governments to exchange their dollars for gold", + "Not quite, but a game show version of the Bretton Woods system sounds like it could be entertaining", + "I see what you did there, but this isn't the correct answer here. Try again!" + ], + "question": "What happened to the Bretton Woods system in 1971", + "text": "The Bretton Woods system was a monetary system established after World War II in order to address global economic instability and high levels of debt.\n\nUnder this system, many countries pegged their own currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate. This meant that the value of other countries' currencies was indirectly tied to the value of gold through the US dollar.\n\nIn 1971, United States President Richard Nixon directed the US Treasury to stop allowing foreign governments to exchange their dollars for gold, a process known as \"convertibility.\"\n\nThe sudden end of convertibility of dollars for gold shocked the world and became known as the Nixon Shock, effectively ending the Bretton Woods system fixed exchange rates. It marked the beginning of a new monetary system based on floating exchange rates.\n", + "title": "What happened to the Bretton Woods system in 1971" + } + } + } } diff --git a/chapter-206-the-evolution-of-money-iv/206.02-lesson-fiat-era.json b/chapter-206-the-evolution-of-money-iv/206.02-lesson-fiat-era.json index 258ae37..231f2d1 100644 --- a/chapter-206-the-evolution-of-money-iv/206.02-lesson-fiat-era.json +++ b/chapter-206-the-evolution-of-money-iv/206.02-lesson-fiat-era.json @@ -1,17 +1,22 @@ { - "answers": [ - "A currency issued by a government decree", - "A type of currency that is only accepted by merchants who love pizza", - "A currency made out of precious gems and metals" - ], - "feedback": [ - "Good job. Fiat money, such as Federal Reserve notes, is a type of currency issued by a government that is not directly exchangeable for a fixed amount of something else, like gold or silver. Its value comes from the fact that the government says it is valuable and people trust that they will be able to use it to buy things", - "Not quite, but a currency that is only accepted by pizza-loving merchants sounds like it could be a delicious way to pay for things", - "Nope, but a currency made out of precious gems and metals would definitely be shiny and eye-catching." - ], - "id": "fiatEra", - "question": "What does the word \"fiat\" mean when it is used to talk about money", - "text": "\"Fiat\" is a word that comes from Latin and means \"let it be done.\" When it is used to talk about money, it means that a government is creating a currency by decree alone.\n\nSince the Nixon Shock, fiat money is not backed by gold or silver and neither can it be directly converted for a fixed amount of gold, as it used to be before.\n\nThis means that their value comes from the fact that the government says they are valuable and that people trust that they will be able to use them to buy things.\n\nIn addition, governments often make it a law (legal tender) that merchants have to accept this type of fiat currency and that it is the only type of currency that can be used to pay taxes.\n", - "title": "The Fiat Era", - "type": "Text" + "fiatEra": { + "title": "The Fiat Era", + "questions": { + "fiatEra": { + "answers": [ + "A currency issued by a government decree", + "A type of currency that is only accepted by merchants who love pizza", + "A currency made out of precious gems and metals" + ], + "feedback": [ + "Good job. Fiat money, such as Federal Reserve notes, is a type of currency issued by a government that is not directly exchangeable for a fixed amount of something else, like gold or silver. Its value comes from the fact that the government says it is valuable and people trust that they will be able to use it to buy things", + "Not quite, but a currency that is only accepted by pizza-loving merchants sounds like it could be a delicious way to pay for things", + "Nope, but a currency made out of precious gems and metals would definitely be shiny and eye-catching." + ], + "question": "What does the word \"fiat\" mean when it is used to talk about money", + "text": "\"Fiat\" is a word that comes from Latin and means \"let it be done.\" When it is used to talk about money, it means that a government is creating a currency by decree alone.\n\nSince the Nixon Shock, fiat money is not backed by gold or silver and neither can it be directly converted for a fixed amount of gold, as it used to be before.\n\nThis means that their value comes from the fact that the government says they are valuable and that people trust that they will be able to use them to buy things.\n\nIn addition, governments often make it a law (legal tender) that merchants have to accept this type of fiat currency and that it is the only type of currency that can be used to pay taxes.\n", + "title": "What does the word \"fiat\" mean when it is used to talk about money" + } + } + } } diff --git a/chapter-206-the-evolution-of-money-iv/206.03-lesson-digital-fiat.json b/chapter-206-the-evolution-of-money-iv/206.03-lesson-digital-fiat.json index ec03ae7..7c50b06 100644 --- a/chapter-206-the-evolution-of-money-iv/206.03-lesson-digital-fiat.json +++ b/chapter-206-the-evolution-of-money-iv/206.03-lesson-digital-fiat.json @@ -1,17 +1,22 @@ { - "answers": [ - "A government issued money that exists only in digital form, like on a computer or phone", - "A type of currency that can only be used to buy things in the internet", - "A currency that can only be sent by email" - ], - "feedback": [ - "Good job. Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins, and is becoming increasingly popular due to its lower costs, faster speeds, and increased capabilities for surveillance", - "Not quite. While digital fiat is digital like the internet, it is also widely accepted at brick and mortar merchants. Try again", - "Nope, you guessed wrong. The use of such a currency would be extremely limited and doesn't exist to our knowledge. Try again!" - ], - "id": "digitalFiat", - "question": "What is digital fiat", - "text": "Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins.\n\nDigital fiat became possible with the proliferation of digital communication networks, like the internet, and the growth of consumer devices like computers and phones that can connect to these networks. Standardized payment protocols, which are established ways of making payments online, also played a role in the emergence of digital fiat.\n\nDigital fiat is increasingly replacing physical fiat due to its lower costs, faster speeds, and increased capabilities for surveillance. In other words, it is cheaper and faster to use digital fiat and it is easier to track transactions made with digital fiat.\n", - "title": "Digital Fiat", - "type": "Text" + "digitalFiat": { + "title": "Digital Fiat", + "questions": { + "digitalFiat": { + "answers": [ + "A government issued money that exists only in digital form, like on a computer or phone", + "A type of currency that can only be used to buy things in the internet", + "A currency that can only be sent by email" + ], + "feedback": [ + "Good job. Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins, and is becoming increasingly popular due to its lower costs, faster speeds, and increased capabilities for surveillance", + "Not quite. While digital fiat is digital like the internet, it is also widely accepted at brick and mortar merchants. Try again", + "Nope, you guessed wrong. The use of such a currency would be extremely limited and doesn't exist to our knowledge. Try again!" + ], + "question": "What is digital fiat", + "text": "Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins.\n\nDigital fiat became possible with the proliferation of digital communication networks, like the internet, and the growth of consumer devices like computers and phones that can connect to these networks. Standardized payment protocols, which are established ways of making payments online, also played a role in the emergence of digital fiat.\n\nDigital fiat is increasingly replacing physical fiat due to its lower costs, faster speeds, and increased capabilities for surveillance. In other words, it is cheaper and faster to use digital fiat and it is easier to track transactions made with digital fiat.\n", + "title": "What is digital fiat" + } + } + } } diff --git a/chapter-206-the-evolution-of-money-iv/206.04-lesson-plastic-credit.json b/chapter-206-the-evolution-of-money-iv/206.04-lesson-plastic-credit.json index d8d345d..9579a2e 100644 --- a/chapter-206-the-evolution-of-money-iv/206.04-lesson-plastic-credit.json +++ b/chapter-206-the-evolution-of-money-iv/206.04-lesson-plastic-credit.json @@ -1,17 +1,22 @@ { - "answers": [ - "A type of payment card that allows people to borrow money to pay for things", - "A card that grants the holder special powers, like the ability to fly", - "A card that allows people to pay for things by waving their hand over a sensor" - ], - "feedback": [ - "Correct. A credit card is a type of payment card that allows people to borrow money from the credit card company to pay for things now, rather than saving up money to pay for things later. There are about three billion credit cards in use around the world today", - "Not quite, but a credit card that grants special powers like the ability to fly sounds like it could be a lot of fun", - "Nope, but a credit card that allows people to pay for things by waving their hand over a sensor sounds like something out of a science fiction movie, not real life." - ], - "id": "plasticCredit", - "question": "What is a credit card", - "text": "The credit card is a type of payment card that allows people to borrow money to pay for things. When people use credit cards, they are borrowing money from the credit card company to pay for things now, rather than saving up money to pay for things later.\n\nThis has gradually normalized the act of borrowing for consumption, something that impacts the time preference of users. Instead of waiting to save up the money, the invention of credit cards has made it more common for people to borrow money to buy things they want right away\n\nToday, there are about three billion credit cards in use around the world.\n", - "title": "Plastic Credit", - "type": "Text" + "plasticCredit": { + "title": "Plastic Credit", + "questions": { + "plasticCredit": { + "answers": [ + "A type of payment card that allows people to borrow money to pay for things", + "A card that grants the holder special powers, like the ability to fly", + "A card that allows people to pay for things by waving their hand over a sensor" + ], + "feedback": [ + "Correct. A credit card is a type of payment card that allows people to borrow money from the credit card company to pay for things now, rather than saving up money to pay for things later. There are about three billion credit cards in use around the world today", + "Not quite, but a credit card that grants special powers like the ability to fly sounds like it could be a lot of fun", + "Nope, but a credit card that allows people to pay for things by waving their hand over a sensor sounds like something out of a science fiction movie, not real life." + ], + "question": "What is a credit card", + "text": "The credit card is a type of payment card that allows people to borrow money to pay for things. When people use credit cards, they are borrowing money from the credit card company to pay for things now, rather than saving up money to pay for things later.\n\nThis has gradually normalized the act of borrowing for consumption, something that impacts the time preference of users. Instead of waiting to save up the money, the invention of credit cards has made it more common for people to borrow money to buy things they want right away\n\nToday, there are about three billion credit cards in use around the world.\n", + "title": "What is a credit card" + } + } + } } diff --git a/chapter-206-the-evolution-of-money-iv/206.05-lesson-double-spend-problem.json b/chapter-206-the-evolution-of-money-iv/206.05-lesson-double-spend-problem.json index 55d3423..1800e4a 100644 --- a/chapter-206-the-evolution-of-money-iv/206.05-lesson-double-spend-problem.json +++ b/chapter-206-the-evolution-of-money-iv/206.05-lesson-double-spend-problem.json @@ -1,17 +1,22 @@ { - "answers": [ - "The ability to ensure that the same digital unit of money cannot be spent more than once by its owner", - "The desire to create a digital currency that could only be spent on Mars", - "The idea of rewarding honesty and making dishonesty very costly" - ], - "feedback": [ - "Good job. In the digital world, where it is easy to copy things, it is important to make sure that the same digital unit of money (like a digital coin) cannot be spent more than once by its owner. This was a key factor in the creation of Bitcoin, as it is important for a monetary system that works without a central authority (like a government)", - "Not quite, but a digital currency that could only be spent on Mars sounds like it could be a fun way to support the colonization of the red planet", - "Nope, but the idea of rewarding honesty and making dishonesty very costly is a key factor in the creation of any monetary system, as it helps to ensure trust and cooperation among participants." - ], - "id": "doubleSpendProblem", - "question": "What was a key factor in the creation of Bitcoin", - "text": "In the digital world, it is easy to copy things, so it is important to make sure that the same digital unit of money cannot be spent more than once by its owner.\n\nIn a monetary system with a central authority (like a government), this problem is trivially solved by keeping a ledger of transactions managed by the central authority. However, this normally represents a single point of failure from both availability and trust viewpoints.\n\nIn a decentralized system, the double-spending problem is significantly harder to solve. Many people have tried to create digital money that is not controlled by a government, but they have all had their own unique challenges.\n\nSatoshi Nakamoto took all of these lessons into account and was the first to solve the double spending problem with the implementation of Bitcoin by creating a decentralized system that rewards honesty and makes it very costly to be dishonest.\n", - "title": "The Double Spending Problem", - "type": "Text" + "doubleSpendProblem": { + "title": "The Double Spending Problem", + "questions": { + "doubleSpendProblem": { + "answers": [ + "The ability to ensure that the same digital unit of money cannot be spent more than once by its owner", + "The desire to create a digital currency that could only be spent on Mars", + "The idea of rewarding honesty and making dishonesty very costly" + ], + "feedback": [ + "Good job. In the digital world, where it is easy to copy things, it is important to make sure that the same digital unit of money (like a digital coin) cannot be spent more than once by its owner. This was a key factor in the creation of Bitcoin, as it is important for a monetary system that works without a central authority (like a government)", + "Not quite, but a digital currency that could only be spent on Mars sounds like it could be a fun way to support the colonization of the red planet", + "Nope, but the idea of rewarding honesty and making dishonesty very costly is a key factor in the creation of any monetary system, as it helps to ensure trust and cooperation among participants." + ], + "question": "What was a key factor in the creation of Bitcoin", + "text": "In the digital world, it is easy to copy things, so it is important to make sure that the same digital unit of money cannot be spent more than once by its owner.\n\nIn a monetary system with a central authority (like a government), this problem is trivially solved by keeping a ledger of transactions managed by the central authority. However, this normally represents a single point of failure from both availability and trust viewpoints.\n\nIn a decentralized system, the double-spending problem is significantly harder to solve. Many people have tried to create digital money that is not controlled by a government, but they have all had their own unique challenges.\n\nSatoshi Nakamoto took all of these lessons into account and was the first to solve the double spending problem with the implementation of Bitcoin by creating a decentralized system that rewards honesty and makes it very costly to be dishonest.\n", + "title": "What was a key factor in the creation of Bitcoin" + } + } + } } diff --git a/chapter-206-the-evolution-of-money-iv/206.06-lesson-innovative-solution.json b/chapter-206-the-evolution-of-money-iv/206.06-lesson-innovative-solution.json index d6689f9..df35d61 100644 --- a/chapter-206-the-evolution-of-money-iv/206.06-lesson-innovative-solution.json +++ b/chapter-206-the-evolution-of-money-iv/206.06-lesson-innovative-solution.json @@ -1,17 +1,22 @@ { - "answers": [ - "The double spending problem", - "The problem of double coincidence of wants", - "The halving problem" - ], - "feedback": [ - "Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once", - "Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again", - "Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!" - ], - "id": "satoshisBreakthrough", - "question": "Which problem did Satoshi have to solve to create Bitcoin", - "text": "Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.\n\nHis solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.\n", - "title": "Satoshi's Breakthrough", - "type": "Text" + "satoshisBreakthrough": { + "title": "Satoshi's Breakthrough", + "questions": { + "satoshisBreakthrough": { + "answers": [ + "The double spending problem", + "The problem of double coincidence of wants", + "The halving problem" + ], + "feedback": [ + "Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once", + "Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again", + "Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!" + ], + "question": "Which problem did Satoshi have to solve to create Bitcoin", + "text": "Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.\n\nHis solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.\n", + "title": "Which problem did Satoshi have to solve to create Bitcoin" + } + } + } } diff --git a/chapter-206-the-evolution-of-money-iv/206.07-lesson-natively-digital.json b/chapter-206-the-evolution-of-money-iv/206.07-lesson-natively-digital.json index c8445c7..924eb7e 100644 --- a/chapter-206-the-evolution-of-money-iv/206.07-lesson-natively-digital.json +++ b/chapter-206-the-evolution-of-money-iv/206.07-lesson-natively-digital.json @@ -1,17 +1,22 @@ { - "answers": [ - "Digital fiat money is based on a product from the industrial age, while Bitcoin is a purpose-built money for the digital age", - "Digital fiat money is open-source, while Bitcoin is a closed system", - "Digital fiat money is designed to increase in value over time, while Bitcoin is designed to lose value" - ], - "feedback": [ - "for the digital age", - "It seems you got things mixed up. It's actually the other way around. Try again", - "Sorry, that's not quite right. Bitcoin is likely to increase in value over time due to its strictly fixed supply and growing deman, while inflation decreases the value of fiat currencies quite reliably." - ], - "id": "nativelyDigital", - "question": "What is the main difference between digital fiat money and Bitcoin", - "text": "Digital fiat money is a digital version of a product that was designed for the industrial age. It has all of the same problems and limitations as the original product. It is a closed system that is heavily controlled and designed to lose value over time.\n\nBitcoin is a type of digital money that was specifically designed for the digital age. It can be improved and updated, and anyone can see and change the code that it is based on. It benefits from the ideas and creativity of anyone who works on it.\n", - "title": "Purpose-built for the Digital Age", - "type": "Text" + "nativelyDigital": { + "title": "Purpose-built for the Digital Age", + "questions": { + "nativelyDigital": { + "answers": [ + "Digital fiat money is based on a product from the industrial age, while Bitcoin is a purpose-built money for the digital age", + "Digital fiat money is open-source, while Bitcoin is a closed system", + "Digital fiat money is designed to increase in value over time, while Bitcoin is designed to lose value" + ], + "feedback": [ + "for the digital age", + "It seems you got things mixed up. It's actually the other way around. Try again", + "Sorry, that's not quite right. Bitcoin is likely to increase in value over time due to its strictly fixed supply and growing deman, while inflation decreases the value of fiat currencies quite reliably." + ], + "question": "What is the main difference between digital fiat money and Bitcoin", + "text": "Digital fiat money is a digital version of a product that was designed for the industrial age. It has all of the same problems and limitations as the original product. It is a closed system that is heavily controlled and designed to lose value over time.\n\nBitcoin is a type of digital money that was specifically designed for the digital age. It can be improved and updated, and anyone can see and change the code that it is based on. It benefits from the ideas and creativity of anyone who works on it.\n", + "title": "What is the main difference between digital fiat money and Bitcoin" + } + } + } } diff --git a/chapter-206-the-evolution-of-money-iv/206.08-lesson-cdbcs.json b/chapter-206-the-evolution-of-money-iv/206.08-lesson-cdbcs.json index 3054a7c..2a9fe26 100644 --- a/chapter-206-the-evolution-of-money-iv/206.08-lesson-cdbcs.json +++ b/chapter-206-the-evolution-of-money-iv/206.08-lesson-cdbcs.json @@ -1,17 +1,22 @@ { - "answers": [ - "To provide surveillance and censorship capabilities to the issuer", - "To compete with Bitcoin as a store of value", - "To create a decentralized and permissionless digital currency" - ], - "feedback": [ - "That's correct! CBDCs are like the Big Brother of digital currencies, designed to provide surveillance and censorship capabilities to the issuer. Creepy, but correct", - "Haha, sorry but no. While Bitcoin and CBDCs are both digital currencies, they have very different purposes and characteristics. CBDCs are issued and backed by central banks, while Bitcoin is decentralized and not controlled by any government or financial institution", - "Oh boy, that's a creative answer but unfortunately not quite right. CBDCs are not designed to be decentralized or permissionless like Bitcoin. In fact, they are issued and backed by central banks, and their main purpose is to be the ultimate tool for control in the digital age. Better luck next time!" - ], - "id": "CBDCs", - "question": "What is the main purpose of central bank digital currencies (CBDCs)", - "text": "Central bank digital currencies (CBDCs) are digital versions of traditional currency that are issued and backed by a central bank.\n\nCBDCs are not decentralized or permissionless like Bitcoin, and are instead intended to compete with other forms of digital payment methods for market dominance.\n\nOne of the main reasons for the development of CBDCs is the surveillance and censorship capabilities they provide the issuer.\n\nAdditionally, in an age of negative real interest rates (when the inflation rate is higher than the interest rate), the widespread adoption of CBDCs often goes hand in hand with the phasing out of physical cash, which can lead to the devaluation of the currency in real terms.\n", - "title": "Central Bank Digital Currencies", - "type": "Text" + "CBDCs": { + "title": "Central Bank Digital Currencies", + "questions": { + "CBDCs": { + "answers": [ + "To provide surveillance and censorship capabilities to the issuer", + "To compete with Bitcoin as a store of value", + "To create a decentralized and permissionless digital currency" + ], + "feedback": [ + "That's correct! CBDCs are like the Big Brother of digital currencies, designed to provide surveillance and censorship capabilities to the issuer. Creepy, but correct", + "Haha, sorry but no. While Bitcoin and CBDCs are both digital currencies, they have very different purposes and characteristics. CBDCs are issued and backed by central banks, while Bitcoin is decentralized and not controlled by any government or financial institution", + "Oh boy, that's a creative answer but unfortunately not quite right. CBDCs are not designed to be decentralized or permissionless like Bitcoin. In fact, they are issued and backed by central banks, and their main purpose is to be the ultimate tool for control in the digital age. Better luck next time!" + ], + "question": "What is the main purpose of central bank digital currencies (CBDCs)", + "text": "Central bank digital currencies (CBDCs) are digital versions of traditional currency that are issued and backed by a central bank.\n\nCBDCs are not decentralized or permissionless like Bitcoin, and are instead intended to compete with other forms of digital payment methods for market dominance.\n\nOne of the main reasons for the development of CBDCs is the surveillance and censorship capabilities they provide the issuer.\n\nAdditionally, in an age of negative real interest rates (when the inflation rate is higher than the interest rate), the widespread adoption of CBDCs often goes hand in hand with the phasing out of physical cash, which can lead to the devaluation of the currency in real terms.\n", + "title": "What is the main purpose of central bank digital currencies (CBDCs)" + } + } + } } diff --git a/chapter-301-bitcoin-why-was-it-created/301-combined.json b/chapter-301-bitcoin-why-was-it-created/301-combined.json index e4aa0ba..d114bb1 100644 --- a/chapter-301-bitcoin-why-was-it-created/301-combined.json +++ b/chapter-301-bitcoin-why-was-it-created/301-combined.json @@ -1,110 +1,134 @@ -{ - "content": [ - { - "answers": [ - "The trust that is required to make it work", - "The color of the physical bills", - "The fact that it requires physical storage" - ], - "feedback": [ - "You got it right! The root problem with conventional currency is the trust that is required to make it work. It's an interesting point, as trust is a fundamental aspect of any currency system", - "Interesting take, but unfortunately not the correct answer. Conventional currency isn't just about the aesthetics of its physical form, although I'm sure some people might argue otherwise", - "Haha, while it might be inconvenient to lug around a wallet full of cash, that's not the root problem with conventional currency. But don't worry, you can try again!" - ], - "id": "rootProblem", - "question": "What is the root problem with conventional currency according to Satoshi Nakamoto", - "text": "So what was the motivation to create Bitcoin? In his announcement of the project, Satoshi Nakamoto gave the following explanation:\n\n\"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.\"\n", +[ + { + "rootProblem": { "title": "The Root Problem", - "type": "Text" - }, - { - "answers": [ - "An unknown programmer who used the pseudonym \"Satoshi Nakamoto\"", - "Craig Wright", - "Elon Musk" - ], - "feedback": [ - "Correct! It's an interesting mystery, but it's worth noting that the bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone", - "I'm sorry, but it looks like Craig Wright's claim to being the creator of bitcoin has been thoroughly debunked. Better luck with the next answer", - "Nope! Elon Musk's talents might be better suited to launching rockets and building electric cars rather than creating revolutionary digital currencies. Try again!" - ], - "id": "bitcoinCreator", - "question": "Who is the creator of bitcoin", - "text": "The creator of bitcoin, who used the pseudonym \"Satoshi Nakamoto,\" is unknown and no claims of being the creator have been verified. Satoshi was only involved in the project for a short time before disappearing.\n\nThe bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone.\n", + "questions": { + "rootProblem": { + "answers": [ + "The trust that is required to make it work", + "The color of the physical bills", + "The fact that it requires physical storage" + ], + "feedback": [ + "You got it right! The root problem with conventional currency is the trust that is required to make it work. It's an interesting point, as trust is a fundamental aspect of any currency system", + "Interesting take, but unfortunately not the correct answer. Conventional currency isn't just about the aesthetics of its physical form, although I'm sure some people might argue otherwise", + "Haha, while it might be inconvenient to lug around a wallet full of cash, that's not the root problem with conventional currency. But don't worry, you can try again!" + ], + "question": "What is the root problem with conventional currency according to Satoshi Nakamoto", + "text": "So what was the motivation to create Bitcoin? In his announcement of the project, Satoshi Nakamoto gave the following explanation:\n\n\"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.\"\n", + "title": "What is the root problem with conventional currency according to Satoshi Nakamoto" + } + } + } + }, + { + "bitcoinCreator": { "title": "Bitcoin's Creator Satoshi Nakamoto", - "type": "Text" - }, - { - "answers": [ - "The need for trusted third parties to make a currency work", - "Lack of a physical form for currency", - "Inflation caused by central authorities issuing more units" - ], - "feedback": [ - "Exactly. Bitcoin requires no trusted third party and allows for transactions to be made directly between individuals, called peer-to-peer, rather than through a central authority or intermediaries", - "Nope. That's not it. Try again", - "Arbitrary inflation of the money supply by centralized issuers is indeed a problem that bitcoin solves elegantly, but there's a more foundational problem that Satoshi addressed. Try again!" - ], - "id": "fiatRequiresTrust", - "question": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin", - "text": "The post-1971 fiat currency system requires trust at all levels because it is debt-based and lacks a scarce anchor. This includes trust in the ability to pay off debts in the future, trust in commercial and central banks not to debase the currency, and trust in their ability to allow access to and freedom to use funds for transactions.\n\nThis trust has been violated numerous times, including during the 2008/09 Global Financial Crisis. In order to address this issue, Satoshi Nakamoto aimed to create a digital form of money that did not require trusting third parties for transactions and could not be debased by a central authority issuing more units.\n", + "questions": { + "bitcoinCreator": { + "answers": [ + "An unknown programmer who used the pseudonym \"Satoshi Nakamoto\"", + "Craig Wright", + "Elon Musk" + ], + "feedback": [ + "Correct! It's an interesting mystery, but it's worth noting that the bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone", + "I'm sorry, but it looks like Craig Wright's claim to being the creator of bitcoin has been thoroughly debunked. Better luck with the next answer", + "Nope! Elon Musk's talents might be better suited to launching rockets and building electric cars rather than creating revolutionary digital currencies. Try again!" + ], + "question": "Who is the creator of bitcoin", + "text": "The creator of bitcoin, who used the pseudonym \"Satoshi Nakamoto,\" is unknown and no claims of being the creator have been verified. Satoshi was only involved in the project for a short time before disappearing.\n\nThe bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone.\n", + "title": "Who is the creator of bitcoin" + } + } + } + }, + { + "fiatRequiresTrust": { "title": "Fiat Currencies Require Trust", - "type": "Text" - }, - { - "answers": [ - "Asset bubbles in stock and real estate markets that experience corrections roughly every decade", - "A sudden increase in the popularity of polka music", - "A decrease in the number of people who believe in extraterrestrial life forms" - ], - "feedback": [ - "Bullseye! Asset bubbles in stock and real estate markets are indeed one of the main consequences of excessive money printing and credit expansion. It's worth noting that these bubbles often disproportionately benefit those closest to the source of new money, while lower income individuals are often the most affected by the inflation and economic booms and busts that result", - "That's not the right wavelength here! While some believe easy money has a negative impact on music, this is not the right answer", - "Your guess is out of this world. While it's certainly interesting to speculate about the existence of aliens, it has nothing to do with the consequences of excessive money printing and credit expansion." - ], - "id": "moneyPrinting", - "question": "What is one of the main consequences of excessive money printing and credit expansion", - "text": "Excessive money printing and credit expansion can cause numerous social and economic issues, including asset bubbles in stocks and real estate markets which tend to experience corrections roughly every decade.\n\nWhile those closest to the source of new money often benefit greatly from these cycles, lower income individuals who don't own valuable assets and rely on regular paychecks are often the most affected by inflation and economic booms and busts created by the fiat currency system.\n\nA well-known example of this is the Global Financial Crisis that began in 2008, which was preceded by a significant accumulation of debt and risk in the commercial banking sector.\n", + "questions": { + "fiatRequiresTrust": { + "answers": [ + "The need for trusted third parties to make a currency work", + "Lack of a physical form for currency", + "Inflation caused by central authorities issuing more units" + ], + "feedback": [ + "Exactly. Bitcoin requires no trusted third party and allows for transactions to be made directly between individuals, called peer-to-peer, rather than through a central authority or intermediaries", + "Nope. That's not it. Try again", + "Arbitrary inflation of the money supply by centralized issuers is indeed a problem that bitcoin solves elegantly, but there's a more foundational problem that Satoshi addressed. Try again!" + ], + "question": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin", + "text": "The post-1971 fiat currency system requires trust at all levels because it is debt-based and lacks a scarce anchor. This includes trust in the ability to pay off debts in the future, trust in commercial and central banks not to debase the currency, and trust in their ability to allow access to and freedom to use funds for transactions.\n\nThis trust has been violated numerous times, including during the 2008/09 Global Financial Crisis. In order to address this issue, Satoshi Nakamoto aimed to create a digital form of money that did not require trusting third parties for transactions and could not be debased by a central authority issuing more units.\n", + "title": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin" + } + } + } + }, + { + "moneyPrinting": { "title": "Money Printing and Credit Expansion", - "type": "Text" - }, - { - "answers": [ - "To take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system", - "To create a digital form of money that could be easily debased by a central authority", - "To make it easier for third parties to facilitate transactions" - ], - "feedback": [ - "That's exactly right. Take a wild guess what those financial elites think about bitcoin", - "No, silly. We already have that with fiat. Try again and think about Satoshi's message in the Genesis Block before you answer", - "Sorry, that's not quite right. While third parties can be useful for facilitating transactions, trust in these intermediaries was one of the issues that Satoshi Nakamoto aimed to address with the creation of Bitcoin. Maybe try again with a different answer." - ], - "id": "genesisBlock", - "question": "Why did Satoshi Nakamoto create Bitcoin", - "text": "It is clear why Satoshi Nakamoto created Bitcoin when we examine the first block of the Bitcoin blockchain, called the Genesis block.\n\nThis block was created by Satoshi when he launched Bitcoin in 2009 and includes a reference to banks receiving bailouts following the 2008/09 Global Financial Crisis.\n\n\"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks\"\n\nThis crisis, in which trust in traditional financial systems was severely damaged, inspired Satoshi to create a digital form of money that does not require trusting third parties for transactions and cannot be debased by a central authority issuing more units.\n", + "questions": { + "moneyPrinting": { + "answers": [ + "Asset bubbles in stock and real estate markets that experience corrections roughly every decade", + "A sudden increase in the popularity of polka music", + "A decrease in the number of people who believe in extraterrestrial life forms" + ], + "feedback": [ + "Bullseye! Asset bubbles in stock and real estate markets are indeed one of the main consequences of excessive money printing and credit expansion. It's worth noting that these bubbles often disproportionately benefit those closest to the source of new money, while lower income individuals are often the most affected by the inflation and economic booms and busts that result", + "That's not the right wavelength here! While some believe easy money has a negative impact on music, this is not the right answer", + "Your guess is out of this world. While it's certainly interesting to speculate about the existence of aliens, it has nothing to do with the consequences of excessive money printing and credit expansion." + ], + "question": "What is one of the main consequences of excessive money printing and credit expansion", + "text": "Excessive money printing and credit expansion can cause numerous social and economic issues, including asset bubbles in stocks and real estate markets which tend to experience corrections roughly every decade.\n\nWhile those closest to the source of new money often benefit greatly from these cycles, lower income individuals who don't own valuable assets and rely on regular paychecks are often the most affected by inflation and economic booms and busts created by the fiat currency system.\n\nA well-known example of this is the Global Financial Crisis that began in 2008, which was preceded by a significant accumulation of debt and risk in the commercial banking sector.\n", + "title": "What is one of the main consequences of excessive money printing and credit expansion" + } + } + } + }, + { + "genesisBlock": { "title": "The Genesis Block", - "type": "Text" - }, - { - "answers": [ - "The Cypherpunks are a group of individuals who seek to use cryptography to promote privacy and security in the digital age", - "The Cypherpunks are a group of hackers who aim to steal personal data and sensitive information through the use of cryptography", - "The Cypherpunks are a group of cryptographers who seek to create complex mathematical equations that are difficult to solve" - ], - "feedback": [ - "Well done! It's interesting to note that the Cypherpunks' goal of using cryptography to promote privacy and security is particularly relevant in today's digital age, where increasing surveillance can lead to the erosion of freedoms", - "Sorry, that's not quite right. While the use of cryptography can certainly be beneficial for hackers, the Cypherpunks seek to use cryptography for the opposite purpose. Maybe try again with a different answer", - "Nope. While cryptography does involve the use of complex mathematical equations, the Cypherpunks are not primarily interested in creating these equations for their own sake. Try again!" - ], - "id": "cypherpunks", - "question": "Who are the Cypherpunks and what is their goal", - "text": "Bitcoin is the result of decades of research work by a group of individuals who call themselves Cypherpunks. They are interested in using cryptography to promote privacy and security in a world where increasing surveillance in the digital age can lead to erosion of freedoms.\n\nEarlier digital cash systems that relied on peer-to-peer (P2P) networks had one or both of the following problems:\n\n * They required a central authority to manage the ledger of ownership.\n * The currency units could be copied, resulting in the \"double-spending problem\" where a single unit could be spent multiple times.\n\n Satoshi addressed both of these issues by combining existing technologies in the creation of Bitcoin. The first issue is resolved because the decentralized nature of the Bitcoin network means that there is no central authority that users need to trust. The second issue is addressed because the unique cryptographic techniques used in Bitcoin make it impossible to copy the currency units.\n", + "questions": { + "genesisBlock": { + "answers": [ + "To take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system", + "To create a digital form of money that could be easily debased by a central authority", + "To make it easier for third parties to facilitate transactions" + ], + "feedback": [ + "That's exactly right. Take a wild guess what those financial elites think about bitcoin", + "No, silly. We already have that with fiat. Try again and think about Satoshi's message in the Genesis Block before you answer", + "Sorry, that's not quite right. While third parties can be useful for facilitating transactions, trust in these intermediaries was one of the issues that Satoshi Nakamoto aimed to address with the creation of Bitcoin. Maybe try again with a different answer." + ], + "question": "Why did Satoshi Nakamoto create Bitcoin", + "text": "It is clear why Satoshi Nakamoto created Bitcoin when we examine the first block of the Bitcoin blockchain, called the Genesis block.\n\nThis block was created by Satoshi when he launched Bitcoin in 2009 and includes a reference to banks receiving bailouts following the 2008/09 Global Financial Crisis.\n\n\"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks\"\n\nThis crisis, in which trust in traditional financial systems was severely damaged, inspired Satoshi to create a digital form of money that does not require trusting third parties for transactions and cannot be debased by a central authority issuing more units.\n", + "title": "Why did Satoshi Nakamoto create Bitcoin" + } + } + } + }, + { + "cypherpunks": { "title": "Bitcoin is the Result of Decades of Research", - "type": "Text" + "questions": { + "cypherpunks": { + "answers": [ + "The Cypherpunks are a group of individuals who seek to use cryptography to promote privacy and security in the digital age", + "The Cypherpunks are a group of hackers who aim to steal personal data and sensitive information through the use of cryptography", + "The Cypherpunks are a group of cryptographers who seek to create complex mathematical equations that are difficult to solve" + ], + "feedback": [ + "Well done! It's interesting to note that the Cypherpunks' goal of using cryptography to promote privacy and security is particularly relevant in today's digital age, where increasing surveillance can lead to the erosion of freedoms", + "Sorry, that's not quite right. While the use of cryptography can certainly be beneficial for hackers, the Cypherpunks seek to use cryptography for the opposite purpose. Maybe try again with a different answer", + "Nope. While cryptography does involve the use of complex mathematical equations, the Cypherpunks are not primarily interested in creating these equations for their own sake. Try again!" + ], + "question": "Who are the Cypherpunks and what is their goal", + "text": "Bitcoin is the result of decades of research work by a group of individuals who call themselves Cypherpunks. They are interested in using cryptography to promote privacy and security in a world where increasing surveillance in the digital age can lead to erosion of freedoms.\n\nEarlier digital cash systems that relied on peer-to-peer (P2P) networks had one or both of the following problems:\n\n * They required a central authority to manage the ledger of ownership.\n * The currency units could be copied, resulting in the \"double-spending problem\" where a single unit could be spent multiple times.\n\n Satoshi addressed both of these issues by combining existing technologies in the creation of Bitcoin. The first issue is resolved because the decentralized nature of the Bitcoin network means that there is no central authority that users need to trust. The second issue is addressed because the unique cryptographic techniques used in Bitcoin make it impossible to copy the currency units.\n", + "title": "Who are the Cypherpunks and what is their goal" + } + } } - ], - "meta": { - "id": "Bitcoin:Whywasitcreated?", - "title": "Bitcoin: Why was it created?" } -} +] diff --git a/chapter-301-bitcoin-why-was-it-created/301-es-combined.json b/chapter-301-bitcoin-why-was-it-created/301-es-combined.json deleted file mode 100644 index 6b1a83a..0000000 --- a/chapter-301-bitcoin-why-was-it-created/301-es-combined.json +++ /dev/null @@ -1,110 +0,0 @@ -{ - "content": [ - { - "answers": [ - "La confianza que se requiere para que funcione", - "El color de los billetes f\u00edsicos.", - "El hecho de que requiera almacenamiento f\u00edsico." - ], - "feedback": [ - "\u00a1Lo hiciste bien! El problema fundamental de la moneda convencional es la confianza que se requiere para que funcione. Es un punto interesante, ya que la confianza es un aspecto fundamental de cualquier sistema monetario.", - "Interesante respuesta, pero lamentablemente no es la respuesta correcta. La moneda convencional no se trata s\u00f3lo de la est\u00e9tica de su forma f\u00edsica, aunque estoy seguro de que algunas personas podr\u00edan argumentar lo contrario.", - "Jaja, si bien puede resultar inc\u00f3modo cargar con una billetera llena de efectivo, ese no es el problema fundamental de la moneda convencional. Pero no te preocupes, \u00a1puedes volver a intentarlo!" - ], - "id": "ra\u00edzProblema", - "question": "\u00bfCu\u00e1l es la ra\u00edz del problema de la moneda convencional seg\u00fan Satoshi Nakamoto?", - "text": "Entonces, \u00bfcu\u00e1l fue la motivaci\u00f3n para crear Bitcoin? En su anuncio del proyecto, Satoshi Nakamoto dio la siguiente explicaci\u00f3n:\n\n\"El problema fundamental con la moneda convencional es toda la confianza que se requiere para que funcione. Se debe confiar en que el banco central no degradar\u00e1 la moneda, pero la historia de las monedas fiduciarias est\u00e1 llena de violaciones de esa confianza. Se debe confiar en los bancos para mantener nuestro dinero y lo transfieren electr\u00f3nicamente, pero lo prestan en oleadas de burbujas crediticias con apenas una fracci\u00f3n en reserva\".\n", - "title": "El problema de ra\u00edz", - "type": "Texto" - }, - { - "answers": [ - "Un programador desconocido que utiliz\u00f3 el seud\u00f3nimo \"Satoshi Nakamoto\"", - "Craig Wright", - "Elon Musk" - ], - "feedback": [ - "\u00a1Correcto! Es un misterio interesante, pero vale la pena se\u00f1alar que el protocolo bitcoin se basa en c\u00f3digo fuente abierto, lo que significa que cualquiera puede revisarlo. Esta transparencia lo convierte en el c\u00f3digo m\u00e1s revisado que existe. A pesar del misterio de su creador, bitcoin en s\u00ed es una red monetaria abierta y transparente que puede ser examinada y utilizada por cualquiera.", - "Lo siento, pero parece que la afirmaci\u00f3n de Craig Wright de ser el creador de bitcoin ha sido completamente desacreditada. M\u00e1s suerte con la siguiente respuesta.", - "\u00a1No! Los talentos de Elon Musk podr\u00edan ser m\u00e1s adecuados para lanzar cohetes y construir autom\u00f3viles el\u00e9ctricos que para crear monedas digitales revolucionarias. \u00a1Intentar otra vez!" - ], - "id": "bitcoinCreador", - "question": "\u00bfQui\u00e9n es el creador de bitcoin?", - "text": "Se desconoce el creador de bitcoin, que utiliz\u00f3 el seud\u00f3nimo \"Satoshi Nakamoto\", y no se ha verificado ninguna afirmaci\u00f3n de ser el creador. Satoshi s\u00f3lo estuvo involucrado en el proyecto por un corto tiempo antes de desaparecer.\n\nEl protocolo bitcoin se basa en c\u00f3digo fuente abierto, lo que significa que cualquiera puede revisarlo. Esta transparencia lo convierte en el c\u00f3digo m\u00e1s revisado que existe. A pesar del misterio de su creador, el bitcoin en s\u00ed es una red monetaria abierta y transparente que cualquiera puede examinar y utilizar.\n", - "title": "El creador de Bitcoin, Satoshi Nakamoto", - "type": "Texto" - }, - { - "answers": [ - "La necesidad de que terceros de confianza hagan funcionar una moneda", - "Falta de forma f\u00edsica para la moneda.", - "Inflaci\u00f3n causada por autoridades centrales que emiten m\u00e1s unidades" - ], - "feedback": [ - "Exactamente. Bitcoin no requiere de un tercero de confianza y permite que las transacciones se realicen directamente entre individuos, lo que se denomina peer-to-peer, en lugar de a trav\u00e9s de una autoridad central o intermediarios.", - "No. Eso no es todo. Intentar otra vez", - "La inflaci\u00f3n arbitraria de la oferta monetaria por parte de emisores centralizados es de hecho un problema que bitcoin resuelve elegantemente, pero hay un problema m\u00e1s fundamental que abord\u00f3 Satoshi. \u00a1Intentar otra vez!" - ], - "id": "fiatRequiereConfianza", - "question": "\u00bfCu\u00e1l fue el principal problema que Satoshi Nakamoto pretend\u00eda abordar con la creaci\u00f3n de bitcoin?", - "text": "El sistema de moneda fiduciaria posterior a 1971 requiere confianza en todos los niveles porque est\u00e1 basado en la deuda y carece de un ancla escasa. Esto incluye confianza en la capacidad de pagar deudas en el futuro, confianza en los bancos comerciales y centrales para no devaluar la moneda y confianza en su capacidad para permitir el acceso y la libertad de utilizar fondos para transacciones.\n\nEsta confianza ha sido violada en numerosas ocasiones, incluso durante la crisis financiera mundial de 2008\/09. Para abordar este problema, Satoshi Nakamoto se propuso crear una forma digital de dinero que no requiriera confiar en terceros para las transacciones y que no pudiera ser degradada por una autoridad central que emitiera m\u00e1s unidades.\n", - "title": "Las monedas fiduciarias requieren confianza", - "type": "Texto" - }, - { - "answers": [ - "Burbujas de activos en los mercados burs\u00e1til y inmobiliario que experimentan correcciones aproximadamente cada d\u00e9cada", - "Un aumento repentino en la popularidad de la m\u00fasica polka.", - "Disminuci\u00f3n del n\u00famero de personas que creen en formas de vida extraterrestres" - ], - "feedback": [ - "\u00a1Diana! Las burbujas de activos en los mercados burs\u00e1til y inmobiliario son de hecho una de las principales consecuencias de la excesiva impresi\u00f3n de dinero y la expansi\u00f3n del cr\u00e9dito. Vale la pena se\u00f1alar que estas burbujas a menudo benefician desproporcionadamente a quienes est\u00e1n m\u00e1s cerca de la fuente de dinero nuevo, mientras que las personas con ingresos m\u00e1s bajos suelen ser las m\u00e1s afectadas por la inflaci\u00f3n y los auges y ca\u00eddas econ\u00f3micas resultantes.", - "\u00a1Esa no es la longitud de onda correcta aqu\u00ed! Aunque algunos creen que el dinero f\u00e1cil tiene un impacto negativo en la m\u00fasica, \u00e9sta no es la respuesta correcta.", - "Tu suposici\u00f3n est\u00e1 fuera de este mundo. Si bien es ciertamente interesante especular sobre la existencia de extraterrestres, no tiene nada que ver con las consecuencias de la excesiva impresi\u00f3n de dinero y la expansi\u00f3n del cr\u00e9dito." - ], - "id": "dineroImpresi\u00f3n", - "question": "\u00bfCu\u00e1l es una de las principales consecuencias de la excesiva impresi\u00f3n de dinero y la expansi\u00f3n del cr\u00e9dito?", - "text": "La impresi\u00f3n excesiva de dinero y la expansi\u00f3n del cr\u00e9dito pueden causar numerosos problemas sociales y econ\u00f3micos, incluidas burbujas de activos en los mercados burs\u00e1tiles y inmobiliarios que tienden a experimentar correcciones aproximadamente cada d\u00e9cada.\n\nSi bien aquellos m\u00e1s cercanos a la fuente de dinero nuevo a menudo se benefician enormemente de estos ciclos, las personas de bajos ingresos que no poseen activos valiosos y dependen de cheques de pago regulares son a menudo los m\u00e1s afectados por la inflaci\u00f3n y los auges y ca\u00eddas econ\u00f3micas creados por el sistema de moneda fiduciaria.\n\nUn ejemplo bien conocido de esto es la crisis financiera global que comenz\u00f3 en 2008, que fue precedida por una importante acumulaci\u00f3n de deuda y riesgo en el sector bancario comercial.\n", - "title": "Impresi\u00f3n de dinero y expansi\u00f3n del cr\u00e9dito", - "type": "Texto" - }, - { - "answers": [ - "Recuperar el control financiero de las \u00e9lites financieras, dando a la gente com\u00fan y corriente la oportunidad de participar en un sistema financiero descentralizado.", - "Crear una forma digital de dinero que una autoridad central pueda degradar f\u00e1cilmente", - "Para facilitar a terceros la facilitaci\u00f3n de transacciones" - ], - "feedback": [ - "Eso es exactamente correcto. Adivine qu\u00e9 piensan esas \u00e9lites financieras sobre bitcoin", - "No tonto. Eso ya lo tenemos con fiat. Int\u00e9ntalo de nuevo y piensa en el mensaje de Satoshi en el Bloque G\u00e9nesis antes de responder.", - "Lo siento, eso no est\u00e1 del todo bien. Si bien los terceros pueden ser \u00fatiles para facilitar las transacciones, la confianza en estos intermediarios fue uno de los problemas que Satoshi Nakamoto pretend\u00eda abordar con la creaci\u00f3n de Bitcoin. Quiz\u00e1s vuelva a intentarlo con una respuesta diferente." - ], - "id": "g\u00e9nesisBloque", - "question": "\u00bfPor qu\u00e9 Satoshi Nakamoto cre\u00f3 Bitcoin?", - "text": "Queda claro por qu\u00e9 Satoshi Nakamoto cre\u00f3 Bitcoin cuando examinamos el primer bloque de la cadena de bloques de Bitcoin, llamado bloque G\u00e9nesis.\n\nEste bloque fue creado por Satoshi cuando lanz\u00f3 Bitcoin en 2009 e incluye una referencia a los bancos que recibieron rescates tras la crisis financiera mundial de 2008\/09.\n\n\"The Times 03\/Ene\/2009 Canciller al borde de un segundo rescate para bancos\"\n\nEsta crisis, en la que la confianza en los sistemas financieros tradicionales qued\u00f3 gravemente da\u00f1ada, inspir\u00f3 a Satoshi a crear una forma digital de dinero que no requiere confiar en terceros para las transacciones y que no puede ser degradada por una autoridad central que emita m\u00e1s unidades.\n", - "title": "El bloque G\u00e9nesis", - "type": "Texto" - }, - { - "answers": [ - "Los Cypherpunks son un grupo de individuos que buscan utilizar la criptograf\u00eda para promover la privacidad y la seguridad en la era digital.", - "Los Cypherpunks son un grupo de hackers que tienen como objetivo robar datos personales e informaci\u00f3n sensible mediante el uso de criptograf\u00eda.", - "Los Cypherpunks son un grupo de cript\u00f3grafos que buscan crear ecuaciones matem\u00e1ticas complejas y dif\u00edciles de resolver." - ], - "feedback": [ - "\u00a1Bien hecho! Es interesante observar que el objetivo de los Cypherpunks de utilizar la criptograf\u00eda para promover la privacidad y la seguridad es particularmente relevante en la era digital actual, donde una mayor vigilancia puede conducir a la erosi\u00f3n de las libertades.", - "Lo siento, eso no est\u00e1 del todo bien. Si bien el uso de la criptograf\u00eda ciertamente puede ser beneficioso para los piratas inform\u00e1ticos, los Cypherpunks buscan utilizar la criptograf\u00eda para el prop\u00f3sito opuesto. Quiz\u00e1s vuelva a intentarlo con una respuesta diferente.", - "No. Si bien la criptograf\u00eda implica el uso de ecuaciones matem\u00e1ticas complejas, los Cypherpunks no est\u00e1n interesados principalmente en crear estas ecuaciones por s\u00ed mismas. \u00a1Intentar otra vez!" - ], - "id": "cypherpunks", - "question": "\u00bfQui\u00e9nes son los Cypherpunks y cu\u00e1l es su objetivo?", - "text": "Bitcoin es el resultado de d\u00e9cadas de trabajo de investigaci\u00f3n realizado por un grupo de personas que se autodenominan Cypherpunks. Est\u00e1n interesados en utilizar la criptograf\u00eda para promover la privacidad y la seguridad en un mundo donde la creciente vigilancia en la era digital puede conducir a la erosi\u00f3n de las libertades.\n\nLos anteriores sistemas de efectivo digital que depend\u00edan de redes peer-to-peer (P2P) ten\u00edan uno o ambos de los siguientes problemas:\n\n * Requer\u00edan una autoridad central para gestionar el libro de propiedad.\n * Las unidades monetarias podr\u00edan copiarse, lo que dar\u00eda lugar al \"problema de doble gasto\", en el que una sola unidad podr\u00eda gastarse varias veces.\n\n Satoshi abord\u00f3 ambas cuestiones combinando tecnolog\u00edas existentes en la creaci\u00f3n de Bitcoin. El primer problema se resuelve porque la naturaleza descentralizada de la red Bitcoin significa que no existe una autoridad central en la que los usuarios deban confiar. La segunda cuesti\u00f3n se aborda porque las t\u00e9cnicas criptogr\u00e1ficas \u00fanicas utilizadas en Bitcoin hacen imposible copiar las unidades monetarias.\n", - "title": "Bitcoin es el resultado de d\u00e9cadas de investigaci\u00f3n", - "type": "Texto" - } - ], - "meta": { - "id": "Bitcoin: \u00bfPor qu\u00e9 se cre\u00f3?", - "title": "Bitcoin: \u00bfPor qu\u00e9 se cre\u00f3?" - } -} \ No newline at end of file diff --git a/chapter-301-bitcoin-why-was-it-created/301.01-lesson-root-problem.json b/chapter-301-bitcoin-why-was-it-created/301.01-lesson-root-problem.json index e12372c..fabbb71 100644 --- a/chapter-301-bitcoin-why-was-it-created/301.01-lesson-root-problem.json +++ b/chapter-301-bitcoin-why-was-it-created/301.01-lesson-root-problem.json @@ -1,17 +1,22 @@ { - "answers": [ - "The trust that is required to make it work", - "The color of the physical bills", - "The fact that it requires physical storage" - ], - "feedback": [ - "You got it right! The root problem with conventional currency is the trust that is required to make it work. It's an interesting point, as trust is a fundamental aspect of any currency system", - "Interesting take, but unfortunately not the correct answer. Conventional currency isn't just about the aesthetics of its physical form, although I'm sure some people might argue otherwise", - "Haha, while it might be inconvenient to lug around a wallet full of cash, that's not the root problem with conventional currency. But don't worry, you can try again!" - ], - "id": "rootProblem", - "question": "What is the root problem with conventional currency according to Satoshi Nakamoto", - "text": "So what was the motivation to create Bitcoin? In his announcement of the project, Satoshi Nakamoto gave the following explanation:\n\n\"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.\"\n", - "title": "The Root Problem", - "type": "Text" + "rootProblem": { + "title": "The Root Problem", + "questions": { + "rootProblem": { + "answers": [ + "The trust that is required to make it work", + "The color of the physical bills", + "The fact that it requires physical storage" + ], + "feedback": [ + "You got it right! The root problem with conventional currency is the trust that is required to make it work. It's an interesting point, as trust is a fundamental aspect of any currency system", + "Interesting take, but unfortunately not the correct answer. Conventional currency isn't just about the aesthetics of its physical form, although I'm sure some people might argue otherwise", + "Haha, while it might be inconvenient to lug around a wallet full of cash, that's not the root problem with conventional currency. But don't worry, you can try again!" + ], + "question": "What is the root problem with conventional currency according to Satoshi Nakamoto", + "text": "So what was the motivation to create Bitcoin? In his announcement of the project, Satoshi Nakamoto gave the following explanation:\n\n\"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.\"\n", + "title": "What is the root problem with conventional currency according to Satoshi Nakamoto" + } + } + } } diff --git a/chapter-301-bitcoin-why-was-it-created/301.02-lesson-bitcoin-creator.json b/chapter-301-bitcoin-why-was-it-created/301.02-lesson-bitcoin-creator.json index 2da7933..ae59675 100644 --- a/chapter-301-bitcoin-why-was-it-created/301.02-lesson-bitcoin-creator.json +++ b/chapter-301-bitcoin-why-was-it-created/301.02-lesson-bitcoin-creator.json @@ -1,17 +1,22 @@ { - "answers": [ - "An unknown programmer who used the pseudonym \"Satoshi Nakamoto\"", - "Craig Wright", - "Elon Musk" - ], - "feedback": [ - "Correct! It's an interesting mystery, but it's worth noting that the bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone", - "I'm sorry, but it looks like Craig Wright's claim to being the creator of bitcoin has been thoroughly debunked. Better luck with the next answer", - "Nope! Elon Musk's talents might be better suited to launching rockets and building electric cars rather than creating revolutionary digital currencies. Try again!" - ], - "id": "bitcoinCreator", - "question": "Who is the creator of bitcoin", - "text": "The creator of bitcoin, who used the pseudonym \"Satoshi Nakamoto,\" is unknown and no claims of being the creator have been verified. Satoshi was only involved in the project for a short time before disappearing.\n\nThe bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone.\n", - "title": "Bitcoin's Creator Satoshi Nakamoto", - "type": "Text" + "bitcoinCreator": { + "title": "Bitcoin's Creator Satoshi Nakamoto", + "questions": { + "bitcoinCreator": { + "answers": [ + "An unknown programmer who used the pseudonym \"Satoshi Nakamoto\"", + "Craig Wright", + "Elon Musk" + ], + "feedback": [ + "Correct! It's an interesting mystery, but it's worth noting that the bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone", + "I'm sorry, but it looks like Craig Wright's claim to being the creator of bitcoin has been thoroughly debunked. Better luck with the next answer", + "Nope! Elon Musk's talents might be better suited to launching rockets and building electric cars rather than creating revolutionary digital currencies. Try again!" + ], + "question": "Who is the creator of bitcoin", + "text": "The creator of bitcoin, who used the pseudonym \"Satoshi Nakamoto,\" is unknown and no claims of being the creator have been verified. Satoshi was only involved in the project for a short time before disappearing.\n\nThe bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone.\n", + "title": "Who is the creator of bitcoin" + } + } + } } diff --git a/chapter-301-bitcoin-why-was-it-created/301.03-lesson-fiat-requires-trust.json b/chapter-301-bitcoin-why-was-it-created/301.03-lesson-fiat-requires-trust.json index 05d6040..50e77e6 100644 --- a/chapter-301-bitcoin-why-was-it-created/301.03-lesson-fiat-requires-trust.json +++ b/chapter-301-bitcoin-why-was-it-created/301.03-lesson-fiat-requires-trust.json @@ -1,17 +1,22 @@ { - "answers": [ - "The need for trusted third parties to make a currency work", - "Lack of a physical form for currency", - "Inflation caused by central authorities issuing more units" - ], - "feedback": [ - "Exactly. Bitcoin requires no trusted third party and allows for transactions to be made directly between individuals, called peer-to-peer, rather than through a central authority or intermediaries", - "Nope. That's not it. Try again", - "Arbitrary inflation of the money supply by centralized issuers is indeed a problem that bitcoin solves elegantly, but there's a more foundational problem that Satoshi addressed. Try again!" - ], - "id": "fiatRequiresTrust", - "question": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin", - "text": "The post-1971 fiat currency system requires trust at all levels because it is debt-based and lacks a scarce anchor. This includes trust in the ability to pay off debts in the future, trust in commercial and central banks not to debase the currency, and trust in their ability to allow access to and freedom to use funds for transactions.\n\nThis trust has been violated numerous times, including during the 2008/09 Global Financial Crisis. In order to address this issue, Satoshi Nakamoto aimed to create a digital form of money that did not require trusting third parties for transactions and could not be debased by a central authority issuing more units.\n", - "title": "Fiat Currencies Require Trust", - "type": "Text" + "fiatRequiresTrust": { + "title": "Fiat Currencies Require Trust", + "questions": { + "fiatRequiresTrust": { + "answers": [ + "The need for trusted third parties to make a currency work", + "Lack of a physical form for currency", + "Inflation caused by central authorities issuing more units" + ], + "feedback": [ + "Exactly. Bitcoin requires no trusted third party and allows for transactions to be made directly between individuals, called peer-to-peer, rather than through a central authority or intermediaries", + "Nope. That's not it. Try again", + "Arbitrary inflation of the money supply by centralized issuers is indeed a problem that bitcoin solves elegantly, but there's a more foundational problem that Satoshi addressed. Try again!" + ], + "question": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin", + "text": "The post-1971 fiat currency system requires trust at all levels because it is debt-based and lacks a scarce anchor. This includes trust in the ability to pay off debts in the future, trust in commercial and central banks not to debase the currency, and trust in their ability to allow access to and freedom to use funds for transactions.\n\nThis trust has been violated numerous times, including during the 2008/09 Global Financial Crisis. In order to address this issue, Satoshi Nakamoto aimed to create a digital form of money that did not require trusting third parties for transactions and could not be debased by a central authority issuing more units.\n", + "title": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin" + } + } + } } diff --git a/chapter-301-bitcoin-why-was-it-created/301.04-lesson-money-printing.json b/chapter-301-bitcoin-why-was-it-created/301.04-lesson-money-printing.json index c45119e..0532fe3 100644 --- a/chapter-301-bitcoin-why-was-it-created/301.04-lesson-money-printing.json +++ b/chapter-301-bitcoin-why-was-it-created/301.04-lesson-money-printing.json @@ -1,17 +1,22 @@ { - "answers": [ - "Asset bubbles in stock and real estate markets that experience corrections roughly every decade", - "A sudden increase in the popularity of polka music", - "A decrease in the number of people who believe in extraterrestrial life forms" - ], - "feedback": [ - "Bullseye! Asset bubbles in stock and real estate markets are indeed one of the main consequences of excessive money printing and credit expansion. It's worth noting that these bubbles often disproportionately benefit those closest to the source of new money, while lower income individuals are often the most affected by the inflation and economic booms and busts that result", - "That's not the right wavelength here! While some believe easy money has a negative impact on music, this is not the right answer", - "Your guess is out of this world. While it's certainly interesting to speculate about the existence of aliens, it has nothing to do with the consequences of excessive money printing and credit expansion." - ], - "id": "moneyPrinting", - "question": "What is one of the main consequences of excessive money printing and credit expansion", - "text": "Excessive money printing and credit expansion can cause numerous social and economic issues, including asset bubbles in stocks and real estate markets which tend to experience corrections roughly every decade.\n\nWhile those closest to the source of new money often benefit greatly from these cycles, lower income individuals who don't own valuable assets and rely on regular paychecks are often the most affected by inflation and economic booms and busts created by the fiat currency system.\n\nA well-known example of this is the Global Financial Crisis that began in 2008, which was preceded by a significant accumulation of debt and risk in the commercial banking sector.\n", - "title": "Money Printing and Credit Expansion", - "type": "Text" + "moneyPrinting": { + "title": "Money Printing and Credit Expansion", + "questions": { + "moneyPrinting": { + "answers": [ + "Asset bubbles in stock and real estate markets that experience corrections roughly every decade", + "A sudden increase in the popularity of polka music", + "A decrease in the number of people who believe in extraterrestrial life forms" + ], + "feedback": [ + "Bullseye! Asset bubbles in stock and real estate markets are indeed one of the main consequences of excessive money printing and credit expansion. It's worth noting that these bubbles often disproportionately benefit those closest to the source of new money, while lower income individuals are often the most affected by the inflation and economic booms and busts that result", + "That's not the right wavelength here! While some believe easy money has a negative impact on music, this is not the right answer", + "Your guess is out of this world. While it's certainly interesting to speculate about the existence of aliens, it has nothing to do with the consequences of excessive money printing and credit expansion." + ], + "question": "What is one of the main consequences of excessive money printing and credit expansion", + "text": "Excessive money printing and credit expansion can cause numerous social and economic issues, including asset bubbles in stocks and real estate markets which tend to experience corrections roughly every decade.\n\nWhile those closest to the source of new money often benefit greatly from these cycles, lower income individuals who don't own valuable assets and rely on regular paychecks are often the most affected by inflation and economic booms and busts created by the fiat currency system.\n\nA well-known example of this is the Global Financial Crisis that began in 2008, which was preceded by a significant accumulation of debt and risk in the commercial banking sector.\n", + "title": "What is one of the main consequences of excessive money printing and credit expansion" + } + } + } } diff --git a/chapter-301-bitcoin-why-was-it-created/301.05-lesson-genesis-block.json b/chapter-301-bitcoin-why-was-it-created/301.05-lesson-genesis-block.json index dfe92b4..0bc7a81 100644 --- a/chapter-301-bitcoin-why-was-it-created/301.05-lesson-genesis-block.json +++ b/chapter-301-bitcoin-why-was-it-created/301.05-lesson-genesis-block.json @@ -1,17 +1,22 @@ { - "answers": [ - "To take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system", - "To create a digital form of money that could be easily debased by a central authority", - "To make it easier for third parties to facilitate transactions" - ], - "feedback": [ - "That's exactly right. Take a wild guess what those financial elites think about bitcoin", - "No, silly. We already have that with fiat. Try again and think about Satoshi's message in the Genesis Block before you answer", - "Sorry, that's not quite right. While third parties can be useful for facilitating transactions, trust in these intermediaries was one of the issues that Satoshi Nakamoto aimed to address with the creation of Bitcoin. Maybe try again with a different answer." - ], - "id": "genesisBlock", - "question": "Why did Satoshi Nakamoto create Bitcoin", - "text": "It is clear why Satoshi Nakamoto created Bitcoin when we examine the first block of the Bitcoin blockchain, called the Genesis block.\n\nThis block was created by Satoshi when he launched Bitcoin in 2009 and includes a reference to banks receiving bailouts following the 2008/09 Global Financial Crisis.\n\n\"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks\"\n\nThis crisis, in which trust in traditional financial systems was severely damaged, inspired Satoshi to create a digital form of money that does not require trusting third parties for transactions and cannot be debased by a central authority issuing more units.\n", - "title": "The Genesis Block", - "type": "Text" + "genesisBlock": { + "title": "The Genesis Block", + "questions": { + "genesisBlock": { + "answers": [ + "To take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system", + "To create a digital form of money that could be easily debased by a central authority", + "To make it easier for third parties to facilitate transactions" + ], + "feedback": [ + "That's exactly right. Take a wild guess what those financial elites think about bitcoin", + "No, silly. We already have that with fiat. Try again and think about Satoshi's message in the Genesis Block before you answer", + "Sorry, that's not quite right. While third parties can be useful for facilitating transactions, trust in these intermediaries was one of the issues that Satoshi Nakamoto aimed to address with the creation of Bitcoin. Maybe try again with a different answer." + ], + "question": "Why did Satoshi Nakamoto create Bitcoin", + "text": "It is clear why Satoshi Nakamoto created Bitcoin when we examine the first block of the Bitcoin blockchain, called the Genesis block.\n\nThis block was created by Satoshi when he launched Bitcoin in 2009 and includes a reference to banks receiving bailouts following the 2008/09 Global Financial Crisis.\n\n\"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks\"\n\nThis crisis, in which trust in traditional financial systems was severely damaged, inspired Satoshi to create a digital form of money that does not require trusting third parties for transactions and cannot be debased by a central authority issuing more units.\n", + "title": "Why did Satoshi Nakamoto create Bitcoin" + } + } + } } diff --git a/chapter-301-bitcoin-why-was-it-created/301.06-lesson-cypher-punks.json b/chapter-301-bitcoin-why-was-it-created/301.06-lesson-cypher-punks.json index 1085330..6b2a685 100644 --- a/chapter-301-bitcoin-why-was-it-created/301.06-lesson-cypher-punks.json +++ b/chapter-301-bitcoin-why-was-it-created/301.06-lesson-cypher-punks.json @@ -1,17 +1,22 @@ { - "answers": [ - "The Cypherpunks are a group of individuals who seek to use cryptography to promote privacy and security in the digital age", - "The Cypherpunks are a group of hackers who aim to steal personal data and sensitive information through the use of cryptography", - "The Cypherpunks are a group of cryptographers who seek to create complex mathematical equations that are difficult to solve" - ], - "feedback": [ - "Well done! It's interesting to note that the Cypherpunks' goal of using cryptography to promote privacy and security is particularly relevant in today's digital age, where increasing surveillance can lead to the erosion of freedoms", - "Sorry, that's not quite right. While the use of cryptography can certainly be beneficial for hackers, the Cypherpunks seek to use cryptography for the opposite purpose. Maybe try again with a different answer", - "Nope. While cryptography does involve the use of complex mathematical equations, the Cypherpunks are not primarily interested in creating these equations for their own sake. Try again!" - ], - "id": "cypherpunks", - "question": "Who are the Cypherpunks and what is their goal", - "text": "Bitcoin is the result of decades of research work by a group of individuals who call themselves Cypherpunks. They are interested in using cryptography to promote privacy and security in a world where increasing surveillance in the digital age can lead to erosion of freedoms.\n\nEarlier digital cash systems that relied on peer-to-peer (P2P) networks had one or both of the following problems:\n\n * They required a central authority to manage the ledger of ownership.\n * The currency units could be copied, resulting in the \"double-spending problem\" where a single unit could be spent multiple times.\n\n Satoshi addressed both of these issues by combining existing technologies in the creation of Bitcoin. The first issue is resolved because the decentralized nature of the Bitcoin network means that there is no central authority that users need to trust. The second issue is addressed because the unique cryptographic techniques used in Bitcoin make it impossible to copy the currency units.\n", - "title": "Bitcoin is the Result of Decades of Research", - "type": "Text" + "cypherpunks": { + "title": "Bitcoin is the Result of Decades of Research", + "questions": { + "cypherpunks": { + "answers": [ + "The Cypherpunks are a group of individuals who seek to use cryptography to promote privacy and security in the digital age", + "The Cypherpunks are a group of hackers who aim to steal personal data and sensitive information through the use of cryptography", + "The Cypherpunks are a group of cryptographers who seek to create complex mathematical equations that are difficult to solve" + ], + "feedback": [ + "Well done! It's interesting to note that the Cypherpunks' goal of using cryptography to promote privacy and security is particularly relevant in today's digital age, where increasing surveillance can lead to the erosion of freedoms", + "Sorry, that's not quite right. While the use of cryptography can certainly be beneficial for hackers, the Cypherpunks seek to use cryptography for the opposite purpose. Maybe try again with a different answer", + "Nope. While cryptography does involve the use of complex mathematical equations, the Cypherpunks are not primarily interested in creating these equations for their own sake. Try again!" + ], + "question": "Who are the Cypherpunks and what is their goal", + "text": "Bitcoin is the result of decades of research work by a group of individuals who call themselves Cypherpunks. They are interested in using cryptography to promote privacy and security in a world where increasing surveillance in the digital age can lead to erosion of freedoms.\n\nEarlier digital cash systems that relied on peer-to-peer (P2P) networks had one or both of the following problems:\n\n * They required a central authority to manage the ledger of ownership.\n * The currency units could be copied, resulting in the \"double-spending problem\" where a single unit could be spent multiple times.\n\n Satoshi addressed both of these issues by combining existing technologies in the creation of Bitcoin. The first issue is resolved because the decentralized nature of the Bitcoin network means that there is no central authority that users need to trust. The second issue is addressed because the unique cryptographic techniques used in Bitcoin make it impossible to copy the currency units.\n", + "title": "Who are the Cypherpunks and what is their goal" + } + } + } } diff --git a/chapter-302-bitcoin-how-does-it-work/302-combined.json b/chapter-302-bitcoin-how-does-it-work/302-combined.json index 20eba95..04f7c80 100644 --- a/chapter-302-bitcoin-how-does-it-work/302-combined.json +++ b/chapter-302-bitcoin-how-does-it-work/302-combined.json @@ -1,144 +1,178 @@ -{ - "content": [ - { - "answers": [ - "The blockchain", - "The internet", - "A decentralized network of nodes" - ], - "feedback": [ - "Correct! Satoshi was the first to successfully implement the blockchain - a concept first described in 1991 by Stuart Haber and W. Scott Stornetta. It's a decentralized form of bookkeeping that is resistant to tampering and allows users to make and verify transactions without the need for a central authority", - "No. The internet is a global network of interconnected computers, but it was not invented by Satoshi and does not solve issues of centralization and double spends. Try again", - "A decentralized network of nodes is an important part of Bitcoin, but it does not solve issues of centralization and double spends by itself. Try again!" - ], - "id": "peer2Peer", - "question": "Which technology did Satoshi implement to solve issues of centralization and double spends", - "text": "To solve the earlier mentioned issues of centralization and possible double spends, Satoshi invented a solution based on a decentralized network of nodes.\n\nNodes are computers that are in constant contact with each other. This by itself is nothing new. The internet itself has a similar infrastructure of interconnected nodes.\n\nAll bitcoin nodes, however, store a copy of the ledger of all transactions in the history of the Bitcoin network.\n\nThis new, decentralized form of bookkeeping, called blockchain, was first successfully implemented in Bitcoin and is extremely resistant to tampering.\n", +[ + { + "peer2Peer": { "title": "Peer-to-Peer Network", - "type": "Text" - }, - { - "answers": [ - "To create a tamper-evident record of all transactions on the blockchain", - "To ensure that blocks can be altered or replaced easily", - "To make sure that the Artificial Intelligence that created Bitcoin has enough computation power to take over the world" - ], - "feedback": [ - "Correct! The cryptographic hash function helps to create a tamper-evident record of all transactions on the blockchain, which can be used to verify the integrity of the data stored on the chain. Did you know that the cryptographic hash function is also an essential part of the proof-of-work mechanism that helps to secure the Bitcoin network", - "That's a hilarious idea, but no, the cryptographic hash function actually ensures the opposite. Try again", - "Ha! I'm not sure who told you that the Bitcoin blockchain was created by AI, but I think they might have been pulling your leg. Try again!" - ], - "id": "blockchain", - "question": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain", - "text": "The Bitcoin blockchain is a distributed database that maintains a continuously growing list of Bitcoin transactions called blocks.\n\nBlocks are anchored to each other through the use of cryptographic hashes. Each block contains a cryptographic hash of the previous block, as well as a timestamp and transaction data. This creates a chain of blocks that are all linked together, with each block building on the one before it.\n\nThe cryptographic hash function ensures that once a block has been added to the chain, it cannot be altered or replaced without also changing all of the subsequent blocks in the chain.\n\nThis creates a tamper-evident record of all transactions that have occurred on the blockchain, which can be used to verify the integrity of the data stored on the chain.\n", + "questions": { + "peer2Peer": { + "answers": [ + "The blockchain", + "The internet", + "A decentralized network of nodes" + ], + "feedback": [ + "Correct! Satoshi was the first to successfully implement the blockchain - a concept first described in 1991 by Stuart Haber and W. Scott Stornetta. It's a decentralized form of bookkeeping that is resistant to tampering and allows users to make and verify transactions without the need for a central authority", + "No. The internet is a global network of interconnected computers, but it was not invented by Satoshi and does not solve issues of centralization and double spends. Try again", + "A decentralized network of nodes is an important part of Bitcoin, but it does not solve issues of centralization and double spends by itself. Try again!" + ], + "question": "Which technology did Satoshi implement to solve issues of centralization and double spends", + "text": "To solve the earlier mentioned issues of centralization and possible double spends, Satoshi invented a solution based on a decentralized network of nodes.\n\nNodes are computers that are in constant contact with each other. This by itself is nothing new. The internet itself has a similar infrastructure of interconnected nodes.\n\nAll bitcoin nodes, however, store a copy of the ledger of all transactions in the history of the Bitcoin network.\n\nThis new, decentralized form of bookkeeping, called blockchain, was first successfully implemented in Bitcoin and is extremely resistant to tampering.\n", + "title": "Which technology did Satoshi implement to solve issues of centralization and double spends" + } + } + } + }, + { + "blockchain": { "title": "What is a blockchain exactly?", - "type": "Text" - }, - { - "answers": [ - "To sign transactions and prove ownership of Bitcoins", - "To verify the ownership of a Bitcoin address", - "To make a stranger fall in love by posting it on social media" - ], - "feedback": [ - "Correct! The private key is used to sign transactions and prove ownership of Bitcoins. It's an essential part of the process of sending and receiving Bitcoin payments, and it's important to keep it secret and secure. Good job", - "Almost. **** While the private key can be used to verify the ownership of a Bitcoin address, that's not its primary purpose", - "Posting it on social media would be like posting your bank account login information online - it's a surefire way to get your Bitcoins stolen. Better stick to more traditional methods of winning someone's heart!" - ], - "id": "privateKey", - "question": "What is the purpose of the private key in a Bitcoin transaction", - "text": "Another cornerstone of Bitcoin is Public Key Cryptography that uses a pair of keys - a public key and a private key - to sign transactions and verify the ownership of Bitcoin addresses.\n\nThe private key is a long string of characters that is used to authorize Bitcoin transactions. It is often represented as a combination of 12 words (sometimes 24). Only in the correct order do the words result in the corresponding private key.\n\nWhoever knows the private key of a bitcoin address can control the bitcoin in that address. Therefore it is important that it is kept secret and never shared with anyone. Ideally, it should be stored offline, so that no unwanted program can access it. \n", + "questions": { + "blockchain": { + "answers": [ + "To create a tamper-evident record of all transactions on the blockchain", + "To ensure that blocks can be altered or replaced easily", + "To make sure that the Artificial Intelligence that created Bitcoin has enough computation power to take over the world" + ], + "feedback": [ + "Correct! The cryptographic hash function helps to create a tamper-evident record of all transactions on the blockchain, which can be used to verify the integrity of the data stored on the chain. Did you know that the cryptographic hash function is also an essential part of the proof-of-work mechanism that helps to secure the Bitcoin network", + "That's a hilarious idea, but no, the cryptographic hash function actually ensures the opposite. Try again", + "Ha! I'm not sure who told you that the Bitcoin blockchain was created by AI, but I think they might have been pulling your leg. Try again!" + ], + "question": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain", + "text": "The Bitcoin blockchain is a distributed database that maintains a continuously growing list of Bitcoin transactions called blocks.\n\nBlocks are anchored to each other through the use of cryptographic hashes. Each block contains a cryptographic hash of the previous block, as well as a timestamp and transaction data. This creates a chain of blocks that are all linked together, with each block building on the one before it.\n\nThe cryptographic hash function ensures that once a block has been added to the chain, it cannot be altered or replaced without also changing all of the subsequent blocks in the chain.\n\nThis creates a tamper-evident record of all transactions that have occurred on the blockchain, which can be used to verify the integrity of the data stored on the chain.\n", + "title": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain" + } + } + } + }, + { + "privateKey": { "title": "Public Key Cryptography", - "type": "Text" - }, - { - "answers": [ - "To generate an unlimited number of Bitcoin addresses from a single key", - "To authorize Bitcoin transactions", - "To verify that the supply of all bitcoin in existence does not exceed 21 million" - ], - "feedback": [ - "Correct! It's worth noting that, while funds can only be moved with the private key, it might be a good idea to not share the master public key on a public forum to preserve financial privacy. Only share Bitcoin addresses with payers to receive payments", - "No, the master public key is not used to authorize Bitcoin transactions. That's the job of the private key. Try again", - "No. While every user can independently verify the monetary supply of in the bitcoin network with a bitcoin node, this is not what the master public key is used for. Try again." - ], - "id": "publicKey", - "question": "What is the purpose of a master public key in Bitcoin", - "text": "A master public key in Bitcoin is a key that is cryptographically derived from a Bitcoin private key and is used to generate Bitcoin addresses that payers can send Bitcoin to.\n\nIt can be used to generate an unlimited number of Bitcoin addresses from a single master public key.\n\nWhile the private key is used to authorize Bitcoin transactions and therefore needs to be kept private, the Bitcoin addresses derived from the public key can be shared with a payer to receive payments from them.\n\nMaster public keys consist of a long sequence of numbers and letters and begin with xpub, ypub or zpub.\n\nA Bitcoin address for receiving payments starts with either 1, 3 or bc1.\n", + "questions": { + "privateKey": { + "answers": [ + "To sign transactions and prove ownership of Bitcoins", + "To verify the ownership of a Bitcoin address", + "To make a stranger fall in love by posting it on social media" + ], + "feedback": [ + "Correct! The private key is used to sign transactions and prove ownership of Bitcoins. It's an essential part of the process of sending and receiving Bitcoin payments, and it's important to keep it secret and secure. Good job", + "Almost. **** While the private key can be used to verify the ownership of a Bitcoin address, that's not its primary purpose", + "Posting it on social media would be like posting your bank account login information online - it's a surefire way to get your Bitcoins stolen. Better stick to more traditional methods of winning someone's heart!" + ], + "question": "What is the purpose of the private key in a Bitcoin transaction", + "text": "Another cornerstone of Bitcoin is Public Key Cryptography that uses a pair of keys - a public key and a private key - to sign transactions and verify the ownership of Bitcoin addresses.\n\nThe private key is a long string of characters that is used to authorize Bitcoin transactions. It is often represented as a combination of 12 words (sometimes 24). Only in the correct order do the words result in the corresponding private key.\n\nWhoever knows the private key of a bitcoin address can control the bitcoin in that address. Therefore it is important that it is kept secret and never shared with anyone. Ideally, it should be stored offline, so that no unwanted program can access it. \n", + "title": "What is the purpose of the private key in a Bitcoin transaction" + } + } + } + }, + { + "publicKey": { "title": "Bitcoin Addresses and the Master Public Key", - "type": "Text" - }, - { - "answers": [ - "To add transactions to the blockchain and secure the network", - "To make a lot of money", - "To amass giant amounts of computation power for AI to take over the world" - ], - "feedback": [ - "Correct! Miners perform work in the form of computations and compete with other miners for who can add the next block of transactions to the blockchain and earn the block reward", - "That's not the main purpose of mining. **** While it's true that miners do receive a reward in bitcoin for their efforts, they also have to pay for the electricity they use to perform computations. Try again", - "Wow, that's an ambitious goal! While it's true that mining requires a significant amount of computational power, I'm pretty sure the main purpose is not to create an army of AI overlords. Better luck next time!" - ], - "id": "mining", - "question": "What is the main purpose of mining in the bitcoin network", - "text": "When a user wants to send a transaction in the bitcoin network, they need to sign the transaction with their private key to prove that they are the owner of the funds being transferred. Once the transaction is signed, it is broadcasted to the peer-to-peer network.\n\nMining is the process of adding transactions to the bitcoin blockchain. When a transaction is broadcasted to the network, it is picked up by miners, who verify that the transaction is valid (i.e., the user has the necessary funds and the private key used to sign the transaction corresponds to the public key associated with the funds).\n\nOnce a transaction has been verified, it is added to a block of transactions, along with a mathematical puzzle. Miners compete to solve the puzzle, and the first one to solve it gets to add the block to the blockchain and claim a reward in bitcoin. The reward is currently 6.25 bitcoins, plus any transaction fees that were included in the block.\n\nIn addition to adding transactions to the blockchain, mining also serves to secure the bitcoin network. This is because solving the puzzle requires a significant amount of computational power, and adding a block to the blockchain requires other miners to verify the solution. This makes it very difficult for any one person or group to manipulate the blockchain.\n", + "questions": { + "publicKey": { + "answers": [ + "To generate an unlimited number of Bitcoin addresses from a single key", + "To authorize Bitcoin transactions", + "To verify that the supply of all bitcoin in existence does not exceed 21 million" + ], + "feedback": [ + "Correct! It's worth noting that, while funds can only be moved with the private key, it might be a good idea to not share the master public key on a public forum to preserve financial privacy. Only share Bitcoin addresses with payers to receive payments", + "No, the master public key is not used to authorize Bitcoin transactions. That's the job of the private key. Try again", + "No. While every user can independently verify the monetary supply of in the bitcoin network with a bitcoin node, this is not what the master public key is used for. Try again." + ], + "question": "What is the purpose of a master public key in Bitcoin", + "text": "A master public key in Bitcoin is a key that is cryptographically derived from a Bitcoin private key and is used to generate Bitcoin addresses that payers can send Bitcoin to.\n\nIt can be used to generate an unlimited number of Bitcoin addresses from a single master public key.\n\nWhile the private key is used to authorize Bitcoin transactions and therefore needs to be kept private, the Bitcoin addresses derived from the public key can be shared with a payer to receive payments from them.\n\nMaster public keys consist of a long sequence of numbers and letters and begin with xpub, ypub or zpub.\n\nA Bitcoin address for receiving payments starts with either 1, 3 or bc1.\n", + "title": "What is the purpose of a master public key in Bitcoin" + } + } + } + }, + { + "mining": { "title": "Mining", - "type": "Text" - }, - { - "answers": [ - "Through proof of work, which involves miners competing to solve a mathematical puzzle", - "By holding a lottery among all those that have bitcoins in a wallet", - "Through a process of majority voting" - ], - "feedback": [ - "Correct! Congrats on understanding how the bitcoin network creates a source of truth that cannot be manipulated by wealthy elites or insiders", - "No, this would be proof of stake, which is a different consensus mechanism that involves choosing the next block producer proportional to their stake (how many coins they hold) in the network. Try again", - "Wrong, but it's an interesting idea. The bitcoin network does not use a process of majority voting to create a source of truth. Try again!" - ], - "id": "proofOfWork", - "question": "How does the Bitcoin network create a source of truth despite having no central authority", - "text": "Decentralized systems, by definition, do not have a single source of truth.\n\nSatoshi's breakthrough was to build a system that allows all participants to zero in on the same truth independently. Proof of work is what allows this to happen. The point of proof of work is to create an irrefutable history. If two histories compete, the one with the most work embedded in it wins.\n\nThe chain with the most work is the truth, by definition. This is called Nakamoto consensus. This works because work requires energy. In Bitcoin, work is computation. Not any kind of computation, but computation that has no shortcut: guessing.\n\n In the absence of a central authority, proof of work is necessary because it ensures that there is no shortcut to adding transactions to the blockchain.\n\n Miners must compete to solve the puzzle through brute force computation, which is probabilistic in nature, and the proof that the work has been done becomes self-evident in the outcome of the work. This makes it very difficult for any one person or group to manipulate the transaction history.\n", + "questions": { + "mining": { + "answers": [ + "To add transactions to the blockchain and secure the network", + "To make a lot of money", + "To amass giant amounts of computation power for AI to take over the world" + ], + "feedback": [ + "Correct! Miners perform work in the form of computations and compete with other miners for who can add the next block of transactions to the blockchain and earn the block reward", + "That's not the main purpose of mining. **** While it's true that miners do receive a reward in bitcoin for their efforts, they also have to pay for the electricity they use to perform computations. Try again", + "Wow, that's an ambitious goal! While it's true that mining requires a significant amount of computational power, I'm pretty sure the main purpose is not to create an army of AI overlords. Better luck next time!" + ], + "question": "What is the main purpose of mining in the bitcoin network", + "text": "When a user wants to send a transaction in the bitcoin network, they need to sign the transaction with their private key to prove that they are the owner of the funds being transferred. Once the transaction is signed, it is broadcasted to the peer-to-peer network.\n\nMining is the process of adding transactions to the bitcoin blockchain. When a transaction is broadcasted to the network, it is picked up by miners, who verify that the transaction is valid (i.e., the user has the necessary funds and the private key used to sign the transaction corresponds to the public key associated with the funds).\n\nOnce a transaction has been verified, it is added to a block of transactions, along with a mathematical puzzle. Miners compete to solve the puzzle, and the first one to solve it gets to add the block to the blockchain and claim a reward in bitcoin. The reward is currently 6.25 bitcoins, plus any transaction fees that were included in the block.\n\nIn addition to adding transactions to the blockchain, mining also serves to secure the bitcoin network. This is because solving the puzzle requires a significant amount of computational power, and adding a block to the blockchain requires other miners to verify the solution. This makes it very difficult for any one person or group to manipulate the blockchain.\n", + "title": "What is the main purpose of mining in the bitcoin network" + } + } + } + }, + { + "proofOfWork": { "title": "Proof of Work", - "type": "Text" - }, - { - "answers": [ - "It is reduced by half", - "It is doubled", - "It is multiplied by a random number chosen by the bitcoin software" - ], - "feedback": [ - "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", - "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", - "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" - ], - "id": "difficultyAdjustment", - "question": "What happens to the block reward in the bitcoin network every four years", - "text": "A crucial element of the Bitcoin protocol is the Difficulty Adjustment. This algorithm ensures that new blocks are found every 10 minutes on average.\n\nWhen more miners join the network, the average time required to find a new block goes down. In the opposite case, when miners leave the network, it takes longer to add a new block. The Difficulty Adjustment algorithm adjusts the difficulty of the mathematical puzzle to match changes in the combined computing power of all miners. This prevents the creation of more (or less) bitcoin units than the predetermined supply schedule.\n\nThis is in stark contrast to physical mining of precious metals like gold where adding more gold miners leads to a higher supply of gold and therefore a decrease in its price. In Bitcoin however, the addition of new miners only adds more security to the network.\n", + "questions": { + "proofOfWork": { + "answers": [ + "Through proof of work, which involves miners competing to solve a mathematical puzzle", + "By holding a lottery among all those that have bitcoins in a wallet", + "Through a process of majority voting" + ], + "feedback": [ + "Correct! Congrats on understanding how the bitcoin network creates a source of truth that cannot be manipulated by wealthy elites or insiders", + "No, this would be proof of stake, which is a different consensus mechanism that involves choosing the next block producer proportional to their stake (how many coins they hold) in the network. Try again", + "Wrong, but it's an interesting idea. The bitcoin network does not use a process of majority voting to create a source of truth. Try again!" + ], + "question": "How does the Bitcoin network create a source of truth despite having no central authority", + "text": "Decentralized systems, by definition, do not have a single source of truth.\n\nSatoshi's breakthrough was to build a system that allows all participants to zero in on the same truth independently. Proof of work is what allows this to happen. The point of proof of work is to create an irrefutable history. If two histories compete, the one with the most work embedded in it wins.\n\nThe chain with the most work is the truth, by definition. This is called Nakamoto consensus. This works because work requires energy. In Bitcoin, work is computation. Not any kind of computation, but computation that has no shortcut: guessing.\n\n In the absence of a central authority, proof of work is necessary because it ensures that there is no shortcut to adding transactions to the blockchain.\n\n Miners must compete to solve the puzzle through brute force computation, which is probabilistic in nature, and the proof that the work has been done becomes self-evident in the outcome of the work. This makes it very difficult for any one person or group to manipulate the transaction history.\n", + "title": "How does the Bitcoin network create a source of truth despite having no central authority" + } + } + } + }, + { + "difficultyAdjustment": { "title": "Difficulty Adjustment", - "type": "Text" - }, - { - "answers": [ - "It is reduced by half", - "It is doubled", - "It is multiplied by a random number chosen by the bitcoin software" - ], - "feedback": [ - "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", - "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", - "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" - ], - "id": "halving", - "question": "What happens to the block reward in the bitcoin network every four years", - "text": "One final element that is important to understand, is that the block reward in the bitcoin network is reduced by half every four years, or every 210,000 blocks.\n\nThis event, known as the \"halving\", is programmed into the bitcoin software that all users run. When bitcoin was first launched, miners received 50 new bitcoins for each block they added to the blockchain. Currently, the block reward is 6.25 bitcoins, but it will be reduced to 3.125 bitcoins in 2024 when the next halving occurs.\n\nThese halvings will continue to take place until the year 2140, at which point the total number of bitcoins that will have been mined will be capped at 21 million. As of 2023, around 92% of all bitcoins (\\~19.3 million) have already been mined.\n\nUnlike fiat currencies, which can be inflationary, bitcoin is disinflationary in nature. This makes it more scarce than fiat and precious metals such as gold and silver, or anything else known in the universe.\n", + "questions": { + "difficultyAdjustment": { + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "A crucial element of the Bitcoin protocol is the Difficulty Adjustment. This algorithm ensures that new blocks are found every 10 minutes on average.\n\nWhen more miners join the network, the average time required to find a new block goes down. In the opposite case, when miners leave the network, it takes longer to add a new block. The Difficulty Adjustment algorithm adjusts the difficulty of the mathematical puzzle to match changes in the combined computing power of all miners. This prevents the creation of more (or less) bitcoin units than the predetermined supply schedule.\n\nThis is in stark contrast to physical mining of precious metals like gold where adding more gold miners leads to a higher supply of gold and therefore a decrease in its price. In Bitcoin however, the addition of new miners only adds more security to the network.\n", + "title": "What happens to the block reward in the bitcoin network every four years" + } + } + } + }, + { + "halving": { "title": "The Halving", - "type": "Text" + "questions": { + "halving": { + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "One final element that is important to understand, is that the block reward in the bitcoin network is reduced by half every four years, or every 210,000 blocks.\n\nThis event, known as the \"halving\", is programmed into the bitcoin software that all users run. When bitcoin was first launched, miners received 50 new bitcoins for each block they added to the blockchain. Currently, the block reward is 6.25 bitcoins, but it will be reduced to 3.125 bitcoins in 2024 when the next halving occurs.\n\nThese halvings will continue to take place until the year 2140, at which point the total number of bitcoins that will have been mined will be capped at 21 million. As of 2023, around 92% of all bitcoins (\\~19.3 million) have already been mined.\n\nUnlike fiat currencies, which can be inflationary, bitcoin is disinflationary in nature. This makes it more scarce than fiat and precious metals such as gold and silver, or anything else known in the universe.\n", + "title": "What happens to the block reward in the bitcoin network every four years" + } + } } - ], - "meta": { - "id": "Bitcoin:Howdoesitwork?", - "title": "Bitcoin: How does it work?" } -} +] diff --git a/chapter-302-bitcoin-how-does-it-work/302-es-combined.json b/chapter-302-bitcoin-how-does-it-work/302-es-combined.json deleted file mode 100644 index 81df319..0000000 --- a/chapter-302-bitcoin-how-does-it-work/302-es-combined.json +++ /dev/null @@ -1,144 +0,0 @@ -{ - "content": [ - { - "answers": [ - "La cadena de bloques", - "La Internet", - "Una red descentralizada de nodos" - ], - "feedback": [ - "\u00a1Correcto! Satoshi fue el primero en implementar con \u00e9xito blockchain, un concepto descrito por primera vez en 1991 por Stuart Haber y W. Scott Stornetta. Es una forma descentralizada de contabilidad que es resistente a la manipulaci\u00f3n y permite a los usuarios realizar y verificar transacciones sin la necesidad de una autoridad central.", - "No. Internet es una red global de computadoras interconectadas, pero no fue inventada por Satoshi y no resuelve problemas de centralizaci\u00f3n y doble gasto. Intentar otra vez", - "Una red descentralizada de nodos es una parte importante de Bitcoin, pero no resuelve los problemas de centralizaci\u00f3n y doble gasto por s\u00ed sola. \u00a1Intentar otra vez!" - ], - "id": "par2Peer", - "question": "\u00bfQu\u00e9 tecnolog\u00eda implement\u00f3 Satoshi para resolver problemas de centralizaci\u00f3n y doble gasto?", - "text": "Para resolver los problemas de centralizaci\u00f3n y posibles gastos dobles mencionados anteriormente, Satoshi invent\u00f3 una soluci\u00f3n basada en una red descentralizada de nodos.\n\nLos nodos son computadoras que est\u00e1n en constante contacto entre s\u00ed. Esto por s\u00ed solo no es nada nuevo. La propia Internet tiene una infraestructura similar de nodos interconectados.\n\nTodos los nodos bitcoin, sin embargo, almacenan una copia del libro mayor de todas las transacciones en la historia de la red Bitcoin.\n\nEsta nueva forma descentralizada de contabilidad, llamada blockchain, se implement\u00f3 con \u00e9xito por primera vez en Bitcoin y es extremadamente resistente a la manipulaci\u00f3n.\n", - "title": "Red de igual a igual", - "type": "Texto" - }, - { - "answers": [ - "Para crear un registro a prueba de manipulaciones de todas las transacciones en la cadena de bloques", - "Para garantizar que los bloques se puedan modificar o reemplazar f\u00e1cilmente", - "Para asegurarse de que la Inteligencia Artificial que cre\u00f3 Bitcoin tenga suficiente poder de c\u00e1lculo para dominar el mundo." - ], - "feedback": [ - "\u00a1Correcto! La funci\u00f3n hash criptogr\u00e1fica ayuda a crear un registro a prueba de manipulaciones de todas las transacciones en la cadena de bloques, que puede usarse para verificar la integridad de los datos almacenados en la cadena. \u00bfSab\u00edas que la funci\u00f3n hash criptogr\u00e1fica tambi\u00e9n es una parte esencial del mecanismo de prueba de trabajo que ayuda a proteger la red Bitcoin?", - "Es una idea divertida, pero no, la funci\u00f3n hash criptogr\u00e1fica en realidad garantiza lo contrario. Intentar otra vez", - "\u00a1Ja! No estoy seguro de qui\u00e9n te dijo que la cadena de bloques de Bitcoin fue creada por IA, pero creo que podr\u00edan haberte estado tomando el pelo. \u00a1Intentar otra vez!" - ], - "id": "cadena de bloques", - "question": "\u00bfCu\u00e1l es el prop\u00f3sito de la funci\u00f3n hash criptogr\u00e1fica en la cadena de bloques de Bitcoin?", - "text": "La cadena de bloques de Bitcoin es una base de datos distribuida que mantiene una lista en continuo crecimiento de transacciones de Bitcoin llamadas bloques.\n\nLos bloques est\u00e1n anclados entre s\u00ed mediante el uso de hashes criptogr\u00e1ficos. Cada bloque contiene un hash criptogr\u00e1fico del bloque anterior, as\u00ed como una marca de tiempo y datos de transacci\u00f3n. Esto crea una cadena de bloques que est\u00e1n todos unidos entre s\u00ed, y cada bloque se basa en el anterior.\n\nLa funci\u00f3n hash criptogr\u00e1fica garantiza que una vez que se ha agregado un bloque a la cadena, no se puede modificar ni reemplazar sin cambiar tambi\u00e9n todos los bloques posteriores de la cadena.\n\nEsto crea un registro a prueba de manipulaciones de todas las transacciones que se han producido en la cadena de bloques, que se puede utilizar para verificar la integridad de los datos almacenados en la cadena.\n", - "title": "\u00bfQu\u00e9 es exactamente una cadena de bloques?", - "type": "Texto" - }, - { - "answers": [ - "Para firmar transacciones y demostrar la propiedad de Bitcoins", - "Para verificar la propiedad de una direcci\u00f3n Bitcoin", - "Enamorar a un desconocido public\u00e1ndolo en las redes sociales" - ], - "feedback": [ - "\u00a1Correcto! La clave privada se utiliza para firmar transacciones y demostrar la propiedad de Bitcoins. Es una parte esencial del proceso de env\u00edo y recepci\u00f3n de pagos de Bitcoin, y es importante mantenerlo en secreto y seguro. Buen trabajo", - "Casi. **** Si bien la clave privada se puede utilizar para verificar la propiedad de una direcci\u00f3n Bitcoin, ese no es su prop\u00f3sito principal.", - "Publicarlo en las redes sociales ser\u00eda como publicar en l\u00ednea la informaci\u00f3n de inicio de sesi\u00f3n de su cuenta bancaria: es una forma segura de que le roben sus Bitcoins. \u00a1Ser\u00e1 mejor que te ci\u00f1as a m\u00e9todos m\u00e1s tradicionales para ganarte el coraz\u00f3n de alguien!" - ], - "id": "llave privada", - "question": "\u00bfCu\u00e1l es el prop\u00f3sito de la clave privada en una transacci\u00f3n de Bitcoin?", - "text": "Otra piedra angular de Bitcoin es la criptograf\u00eda de clave p\u00fablica que utiliza un par de claves (una clave p\u00fablica y una privada) para firmar transacciones y verificar la propiedad de las direcciones de Bitcoin.\n\nLa clave privada es una larga cadena de caracteres que se utiliza para autorizar transacciones de Bitcoin. A menudo se representa como una combinaci\u00f3n de 12 palabras (a veces 24). S\u00f3lo en el orden correcto las palabras dan como resultado la clave privada correspondiente.\n\nQuien conozca la clave privada de una direcci\u00f3n de bitcoin puede controlar los bitcoins en esa direcci\u00f3n. Por eso es importante que se mantenga en secreto y nunca se comparta con nadie. Lo ideal ser\u00eda almacenarlo sin conexi\u00f3n, para que ning\u00fan programa no deseado pueda acceder a \u00e9l.\n", - "title": "Criptograf\u00eda de clave p\u00fablica", - "type": "Texto" - }, - { - "answers": [ - "Para generar un n\u00famero ilimitado de direcciones Bitcoin a partir de una \u00fanica clave", - "Para autorizar transacciones de Bitcoin", - "Comprobar que la oferta de todos los bitcoins existentes no supera los 21 millones" - ], - "feedback": [ - "\u00a1Correcto! Vale la pena se\u00f1alar que, si bien los fondos solo se pueden mover con la clave privada, podr\u00eda ser una buena idea no compartir la clave p\u00fablica maestra en un foro p\u00fablico para preservar la privacidad financiera. Comparta \u00fanicamente direcciones de Bitcoin con pagadores para recibir pagos", - "No, la clave p\u00fablica maestra no se utiliza para autorizar transacciones de Bitcoin. Ese es el trabajo de la clave privada. Intentar otra vez", - "No. Si bien cada usuario puede verificar de forma independiente el suministro monetario en la red bitcoin con un nodo bitcoin, la clave p\u00fablica maestra no se utiliza para esto. Intentar otra vez." - ], - "id": "Llave p\u00fablica", - "question": "\u00bfCu\u00e1l es el prop\u00f3sito de una clave p\u00fablica maestra en Bitcoin?", - "text": "Una clave p\u00fablica maestra en Bitcoin es una clave que se deriva criptogr\u00e1ficamente de una clave privada de Bitcoin y se utiliza para generar direcciones de Bitcoin a las que los pagadores pueden enviar Bitcoin.\n\nSe puede utilizar para generar una cantidad ilimitada de direcciones Bitcoin a partir de una \u00fanica clave p\u00fablica maestra.\n\nSi bien la clave privada se utiliza para autorizar transacciones de Bitcoin y, por lo tanto, debe mantenerse privada, las direcciones de Bitcoin derivadas de la clave p\u00fablica se pueden compartir con un pagador para recibir sus pagos.\n\nLas claves p\u00fablicas maestras constan de una larga secuencia de n\u00fameros y letras y comienzan con xpub, ypub o zpub.\n\nUna direcci\u00f3n de Bitcoin para recibir pagos comienza con 1, 3 o bc1.\n", - "title": "Direcciones de Bitcoin y la clave p\u00fablica maestra", - "type": "Texto" - }, - { - "answers": [ - "Para agregar transacciones a la cadena de bloques y proteger la red", - "Para ganar mucho dinero", - "Acumular cantidades gigantescas de poder de c\u00f3mputo para que la IA se apodere del mundo" - ], - "feedback": [ - "\u00a1Correcto! Los mineros realizan trabajos en forma de c\u00e1lculos y compiten con otros mineros para ver qui\u00e9n puede agregar el siguiente bloque de transacciones a la cadena de bloques y ganar la recompensa del bloque.", - "Ese no es el objetivo principal de la miner\u00eda. **** Si bien es cierto que los mineros reciben una recompensa en bitcoins por sus esfuerzos, tambi\u00e9n tienen que pagar por la electricidad que utilizan para realizar los c\u00e1lculos. Intentar otra vez", - "\u00a1Vaya, ese es un objetivo ambicioso! Si bien es cierto que la miner\u00eda requiere una cantidad significativa de poder computacional, estoy bastante seguro de que el objetivo principal no es crear un ej\u00e9rcito de se\u00f1ores de la IA. \u00a1Mejor suerte la pr\u00f3xima vez!" - ], - "id": "miner\u00eda", - "question": "\u00bfCu\u00e1l es el objetivo principal de la miner\u00eda en la red bitcoin?", - "text": "Cuando un usuario desea enviar una transacci\u00f3n en la red bitcoin, debe firmar la transacci\u00f3n con su clave privada para demostrar que es el propietario de los fondos que se transfieren. Una vez firmada la transacci\u00f3n, se transmite a la red peer-to-peer.\n\nLa miner\u00eda es el proceso de agregar transacciones a la cadena de bloques de bitcoin. Cuando una transacci\u00f3n se transmite a la red, los mineros la recogen y verifican que la transacci\u00f3n sea v\u00e1lida (es decir, que el usuario tenga los fondos necesarios y la clave privada utilizada para firmar la transacci\u00f3n corresponda a la clave p\u00fablica asociada con los fondos). ).\n\nUna vez que se ha verificado una transacci\u00f3n, se agrega a un bloque de transacciones, junto con un rompecabezas matem\u00e1tico. Los mineros compiten para resolver el rompecabezas, y el primero en resolverlo agrega el bloque a la cadena de bloques y reclama una recompensa en bitcoins. La recompensa es actualmente de 6,25 bitcoins, m\u00e1s las tarifas de transacci\u00f3n que se incluyeron en el bloque.\n\nAdem\u00e1s de agregar transacciones a la cadena de bloques, la miner\u00eda tambi\u00e9n sirve para proteger la red bitcoin. Esto se debe a que resolver el rompecabezas requiere una cantidad significativa de potencia computacional y agregar un bloque a la cadena de bloques requiere que otros mineros verifiquen la soluci\u00f3n. Esto hace que sea muy dif\u00edcil para cualquier persona o grupo manipular la cadena de bloques.\n", - "title": "Miner\u00eda", - "type": "Texto" - }, - { - "answers": [ - "A trav\u00e9s de prueba de trabajo, que involucra a mineros compitiendo para resolver un acertijo matem\u00e1tico", - "Realizando un sorteo entre todos aquellos que tengan bitcoins en una billetera", - "A trav\u00e9s de un proceso de votaci\u00f3n por mayor\u00eda" - ], - "feedback": [ - "\u00a1Correcto! Felicitaciones por comprender c\u00f3mo la red bitcoin crea una fuente de verdad que no puede ser manipulada por las \u00e9lites ricas o los iniciados.", - "No, esto ser\u00eda una prueba de participaci\u00f3n, que es un mecanismo de consenso diferente que implica elegir el siguiente productor de bloques proporcional a su participaci\u00f3n (cu\u00e1ntas monedas tiene) en la red. Intentar otra vez", - "Mal, pero es una idea interesante. La red bitcoin no utiliza un proceso de votaci\u00f3n mayoritaria para crear una fuente de verdad. \u00a1Intentar otra vez!" - ], - "id": "prueba de trabajo", - "question": "\u00bfC\u00f3mo crea la red Bitcoin una fuente de verdad a pesar de no tener una autoridad central?", - "text": "Los sistemas descentralizados, por definici\u00f3n, no tienen una \u00fanica fuente de verdad.\n\nEl avance de Satoshi fue construir un sistema que permita a todos los participantes concentrarse en la misma verdad de forma independiente. La prueba de trabajo es lo que permite que esto suceda. El objetivo de la prueba del trabajo es crear una historia irrefutable. Si dos historias compiten, gana la que tenga m\u00e1s trabajo incrustado.\n\nLa cadena con m\u00e1s trabajo es la verdad, por definici\u00f3n. Esto se llama consenso de Nakamoto. Esto funciona porque el trabajo requiere energ\u00eda. En Bitcoin, el trabajo es computaci\u00f3n. No cualquier tipo de c\u00e1lculo, sino un c\u00e1lculo que no tiene atajos: adivinar.\n\n En ausencia de una autoridad central, la prueba de trabajo es necesaria porque garantiza que no haya atajos para agregar transacciones a la cadena de bloques.\n\n Los mineros deben competir para resolver el rompecabezas mediante c\u00e1lculos de fuerza bruta, que son de naturaleza probabil\u00edstica, y la prueba de que el trabajo se ha realizado se vuelve evidente en el resultado del trabajo. Esto hace que sea muy dif\u00edcil para cualquier persona o grupo manipular el historial de transacciones.\n", - "title": "Prueba de trabajo", - "type": "Texto" - }, - { - "answers": [ - "Se reduce a la mitad", - "esta duplicado", - "Se multiplica por un n\u00famero aleatorio elegido por el software bitcoin." - ], - "feedback": [ - "\u00a1As\u00ed es! Satoshi determin\u00f3 la reducci\u00f3n del suministro de nuevos bitcoins a la mitad en la primera versi\u00f3n del software Bitcoin en 2009 y es pr\u00e1cticamente imposible cambiarlo.", - "Lo sentimos, pero la recompensa en bloque no se duplica cada cuatro a\u00f1os. Debes estar confundiendo Bitcoin con la oferta de monedas fiduciarias que cada vez se expanden a un ritmo m\u00e1s r\u00e1pido. Intentar otra vez", - "Muy creativo, pero equivocado. El calendario de suministro de Bitcoin es cualquier cosa menos aleatorio. Su previsibilidad proporciona una certeza a los actores econ\u00f3micos como ning\u00fan otro en la historia de la humanidad. \u00a1Intentar otra vez!" - ], - "id": "dificultadAjuste", - "question": "\u00bfQu\u00e9 pasa con la recompensa en bloque en la red bitcoin cada cuatro a\u00f1os?", - "text": "Un elemento crucial del protocolo Bitcoin es el ajuste de dificultad. Este algoritmo garantiza que se encuentren nuevos bloques cada 10 minutos en promedio.\n\nCuando m\u00e1s mineros se unen a la red, el tiempo promedio necesario para encontrar un nuevo bloque disminuye. En el caso contrario, cuando los mineros abandonan la red, tardan m\u00e1s en agregar un nuevo bloque. El algoritmo de ajuste de dificultad ajusta la dificultad del rompecabezas matem\u00e1tico para que coincida con los cambios en la potencia inform\u00e1tica combinada de todos los mineros. Esto evita la creaci\u00f3n de m\u00e1s (o menos) unidades de bitcoin que el programa de suministro predeterminado.\n\nEsto contrasta marcadamente con la extracci\u00f3n f\u00edsica de metales preciosos como el oro, donde agregar m\u00e1s mineros de oro conduce a una mayor oferta de oro y, por lo tanto, a una disminuci\u00f3n de su precio. Sin embargo, en Bitcoin, la incorporaci\u00f3n de nuevos mineros s\u00f3lo a\u00f1ade m\u00e1s seguridad a la red.\n", - "title": "Ajuste de dificultad", - "type": "Texto" - }, - { - "answers": [ - "Se reduce a la mitad", - "esta duplicado", - "Se multiplica por un n\u00famero aleatorio elegido por el software bitcoin." - ], - "feedback": [ - "\u00a1As\u00ed es! Satoshi determin\u00f3 la reducci\u00f3n del suministro de nuevos bitcoins a la mitad en la primera versi\u00f3n del software Bitcoin en 2009 y es pr\u00e1cticamente imposible cambiarlo.", - "Lo sentimos, pero la recompensa en bloque no se duplica cada cuatro a\u00f1os. Debes estar confundiendo Bitcoin con la oferta de monedas fiduciarias que cada vez se expanden a un ritmo m\u00e1s r\u00e1pido. Intentar otra vez", - "Muy creativo, pero equivocado. El calendario de suministro de Bitcoin es cualquier cosa menos aleatorio. Su previsibilidad proporciona una certeza a los actores econ\u00f3micos como ning\u00fan otro en la historia de la humanidad. \u00a1Intentar otra vez!" - ], - "id": "reducir a la mitad", - "question": "\u00bfQu\u00e9 pasa con la recompensa en bloque en la red bitcoin cada cuatro a\u00f1os?", - "text": "Un \u00faltimo elemento que es importante entender es que la recompensa por bloque en la red bitcoin se reduce a la mitad cada cuatro a\u00f1os, o cada 210.000 bloques.\n\nEste evento, conocido como \"reducci\u00f3n a la mitad\", est\u00e1 programado en el software bitcoin que ejecutan todos los usuarios. Cuando Bitcoin se lanz\u00f3 por primera vez, los mineros recibieron 50 nuevos bitcoins por cada bloque que agregaron a la cadena de bloques. Actualmente, la recompensa en bloque es de 6,25 bitcoins, pero se reducir\u00e1 a 3,125 bitcoins en 2024 cuando se produzca la pr\u00f3xima reducci\u00f3n a la mitad.\n\nEstas reducciones a la mitad seguir\u00e1n produci\u00e9ndose hasta el a\u00f1o 2140, momento en el que el n\u00famero total de bitcoins que se habr\u00e1n extra\u00eddo tendr\u00e1 un l\u00edmite de 21 millones. En 2023, alrededor del 92 % de todos los bitcoins (~19,3 millones) ya se han extra\u00eddo.\n\nA diferencia de las monedas fiduciarias, que pueden ser inflacionarias, el bitcoin es de naturaleza desinflacionaria. Esto lo hace m\u00e1s escaso que los metales preciosos y fiduciarios como el oro y la plata, o cualquier otra cosa conocida en el universo.\n", - "title": "La reducci\u00f3n a la mitad", - "type": "Texto" - } - ], - "meta": { - "id": "Bitcoin: \u00bfC\u00f3mo funciona?", - "title": "Bitcoin: \u00bfC\u00f3mo funciona?" - } -} \ No newline at end of file diff --git a/chapter-302-bitcoin-how-does-it-work/302.01-lesson-peer-2-peer.json b/chapter-302-bitcoin-how-does-it-work/302.01-lesson-peer-2-peer.json index 86db025..13031f3 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.01-lesson-peer-2-peer.json +++ b/chapter-302-bitcoin-how-does-it-work/302.01-lesson-peer-2-peer.json @@ -1,17 +1,22 @@ { - "answers": [ - "The blockchain", - "The internet", - "A decentralized network of nodes" - ], - "feedback": [ - "Correct! Satoshi was the first to successfully implement the blockchain - a concept first described in 1991 by Stuart Haber and W. Scott Stornetta. It's a decentralized form of bookkeeping that is resistant to tampering and allows users to make and verify transactions without the need for a central authority", - "No. The internet is a global network of interconnected computers, but it was not invented by Satoshi and does not solve issues of centralization and double spends. Try again", - "A decentralized network of nodes is an important part of Bitcoin, but it does not solve issues of centralization and double spends by itself. Try again!" - ], - "id": "peer2Peer", - "question": "Which technology did Satoshi implement to solve issues of centralization and double spends", - "text": "To solve the earlier mentioned issues of centralization and possible double spends, Satoshi invented a solution based on a decentralized network of nodes.\n\nNodes are computers that are in constant contact with each other. This by itself is nothing new. The internet itself has a similar infrastructure of interconnected nodes.\n\nAll bitcoin nodes, however, store a copy of the ledger of all transactions in the history of the Bitcoin network.\n\nThis new, decentralized form of bookkeeping, called blockchain, was first successfully implemented in Bitcoin and is extremely resistant to tampering.\n", - "title": "Peer-to-Peer Network", - "type": "Text" + "peer2Peer": { + "title": "Peer-to-Peer Network", + "questions": { + "peer2Peer": { + "answers": [ + "The blockchain", + "The internet", + "A decentralized network of nodes" + ], + "feedback": [ + "Correct! Satoshi was the first to successfully implement the blockchain - a concept first described in 1991 by Stuart Haber and W. Scott Stornetta. It's a decentralized form of bookkeeping that is resistant to tampering and allows users to make and verify transactions without the need for a central authority", + "No. The internet is a global network of interconnected computers, but it was not invented by Satoshi and does not solve issues of centralization and double spends. Try again", + "A decentralized network of nodes is an important part of Bitcoin, but it does not solve issues of centralization and double spends by itself. Try again!" + ], + "question": "Which technology did Satoshi implement to solve issues of centralization and double spends", + "text": "To solve the earlier mentioned issues of centralization and possible double spends, Satoshi invented a solution based on a decentralized network of nodes.\n\nNodes are computers that are in constant contact with each other. This by itself is nothing new. The internet itself has a similar infrastructure of interconnected nodes.\n\nAll bitcoin nodes, however, store a copy of the ledger of all transactions in the history of the Bitcoin network.\n\nThis new, decentralized form of bookkeeping, called blockchain, was first successfully implemented in Bitcoin and is extremely resistant to tampering.\n", + "title": "Which technology did Satoshi implement to solve issues of centralization and double spends" + } + } + } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.02-lesson-blockchain.json b/chapter-302-bitcoin-how-does-it-work/302.02-lesson-blockchain.json index 9aa36ad..bb25eda 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.02-lesson-blockchain.json +++ b/chapter-302-bitcoin-how-does-it-work/302.02-lesson-blockchain.json @@ -1,17 +1,22 @@ { - "answers": [ - "To create a tamper-evident record of all transactions on the blockchain", - "To ensure that blocks can be altered or replaced easily", - "To make sure that the Artificial Intelligence that created Bitcoin has enough computation power to take over the world" - ], - "feedback": [ - "Correct! The cryptographic hash function helps to create a tamper-evident record of all transactions on the blockchain, which can be used to verify the integrity of the data stored on the chain. Did you know that the cryptographic hash function is also an essential part of the proof-of-work mechanism that helps to secure the Bitcoin network", - "That's a hilarious idea, but no, the cryptographic hash function actually ensures the opposite. Try again", - "Ha! I'm not sure who told you that the Bitcoin blockchain was created by AI, but I think they might have been pulling your leg. Try again!" - ], - "id": "blockchain", - "question": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain", - "text": "The Bitcoin blockchain is a distributed database that maintains a continuously growing list of Bitcoin transactions called blocks.\n\nBlocks are anchored to each other through the use of cryptographic hashes. Each block contains a cryptographic hash of the previous block, as well as a timestamp and transaction data. This creates a chain of blocks that are all linked together, with each block building on the one before it.\n\nThe cryptographic hash function ensures that once a block has been added to the chain, it cannot be altered or replaced without also changing all of the subsequent blocks in the chain.\n\nThis creates a tamper-evident record of all transactions that have occurred on the blockchain, which can be used to verify the integrity of the data stored on the chain.\n", - "title": "What is a blockchain exactly?", - "type": "Text" + "blockchain": { + "title": "What is a blockchain exactly?", + "questions": { + "blockchain": { + "answers": [ + "To create a tamper-evident record of all transactions on the blockchain", + "To ensure that blocks can be altered or replaced easily", + "To make sure that the Artificial Intelligence that created Bitcoin has enough computation power to take over the world" + ], + "feedback": [ + "Correct! The cryptographic hash function helps to create a tamper-evident record of all transactions on the blockchain, which can be used to verify the integrity of the data stored on the chain. Did you know that the cryptographic hash function is also an essential part of the proof-of-work mechanism that helps to secure the Bitcoin network", + "That's a hilarious idea, but no, the cryptographic hash function actually ensures the opposite. Try again", + "Ha! I'm not sure who told you that the Bitcoin blockchain was created by AI, but I think they might have been pulling your leg. Try again!" + ], + "question": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain", + "text": "The Bitcoin blockchain is a distributed database that maintains a continuously growing list of Bitcoin transactions called blocks.\n\nBlocks are anchored to each other through the use of cryptographic hashes. Each block contains a cryptographic hash of the previous block, as well as a timestamp and transaction data. This creates a chain of blocks that are all linked together, with each block building on the one before it.\n\nThe cryptographic hash function ensures that once a block has been added to the chain, it cannot be altered or replaced without also changing all of the subsequent blocks in the chain.\n\nThis creates a tamper-evident record of all transactions that have occurred on the blockchain, which can be used to verify the integrity of the data stored on the chain.\n", + "title": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain" + } + } + } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.03-lesson-private-key.json b/chapter-302-bitcoin-how-does-it-work/302.03-lesson-private-key.json index c2a192b..26efd85 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.03-lesson-private-key.json +++ b/chapter-302-bitcoin-how-does-it-work/302.03-lesson-private-key.json @@ -1,17 +1,22 @@ { - "answers": [ - "To sign transactions and prove ownership of Bitcoins", - "To verify the ownership of a Bitcoin address", - "To make a stranger fall in love by posting it on social media" - ], - "feedback": [ - "Correct! The private key is used to sign transactions and prove ownership of Bitcoins. It's an essential part of the process of sending and receiving Bitcoin payments, and it's important to keep it secret and secure. Good job", - "Almost. **** While the private key can be used to verify the ownership of a Bitcoin address, that's not its primary purpose", - "Posting it on social media would be like posting your bank account login information online - it's a surefire way to get your Bitcoins stolen. Better stick to more traditional methods of winning someone's heart!" - ], - "id": "privateKey", - "question": "What is the purpose of the private key in a Bitcoin transaction", - "text": "Another cornerstone of Bitcoin is Public Key Cryptography that uses a pair of keys - a public key and a private key - to sign transactions and verify the ownership of Bitcoin addresses.\n\nThe private key is a long string of characters that is used to authorize Bitcoin transactions. It is often represented as a combination of 12 words (sometimes 24). Only in the correct order do the words result in the corresponding private key.\n\nWhoever knows the private key of a bitcoin address can control the bitcoin in that address. Therefore it is important that it is kept secret and never shared with anyone. Ideally, it should be stored offline, so that no unwanted program can access it. \n", - "title": "Public Key Cryptography", - "type": "Text" + "privateKey": { + "title": "Public Key Cryptography", + "questions": { + "privateKey": { + "answers": [ + "To sign transactions and prove ownership of Bitcoins", + "To verify the ownership of a Bitcoin address", + "To make a stranger fall in love by posting it on social media" + ], + "feedback": [ + "Correct! The private key is used to sign transactions and prove ownership of Bitcoins. It's an essential part of the process of sending and receiving Bitcoin payments, and it's important to keep it secret and secure. Good job", + "Almost. **** While the private key can be used to verify the ownership of a Bitcoin address, that's not its primary purpose", + "Posting it on social media would be like posting your bank account login information online - it's a surefire way to get your Bitcoins stolen. Better stick to more traditional methods of winning someone's heart!" + ], + "question": "What is the purpose of the private key in a Bitcoin transaction", + "text": "Another cornerstone of Bitcoin is Public Key Cryptography that uses a pair of keys - a public key and a private key - to sign transactions and verify the ownership of Bitcoin addresses.\n\nThe private key is a long string of characters that is used to authorize Bitcoin transactions. It is often represented as a combination of 12 words (sometimes 24). Only in the correct order do the words result in the corresponding private key.\n\nWhoever knows the private key of a bitcoin address can control the bitcoin in that address. Therefore it is important that it is kept secret and never shared with anyone. Ideally, it should be stored offline, so that no unwanted program can access it. \n", + "title": "What is the purpose of the private key in a Bitcoin transaction" + } + } + } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.04-lesson-public-key.json b/chapter-302-bitcoin-how-does-it-work/302.04-lesson-public-key.json index 7eabc90..3203b74 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.04-lesson-public-key.json +++ b/chapter-302-bitcoin-how-does-it-work/302.04-lesson-public-key.json @@ -1,17 +1,22 @@ { - "answers": [ - "To generate an unlimited number of Bitcoin addresses from a single key", - "To authorize Bitcoin transactions", - "To verify that the supply of all bitcoin in existence does not exceed 21 million" - ], - "feedback": [ - "Correct! It's worth noting that, while funds can only be moved with the private key, it might be a good idea to not share the master public key on a public forum to preserve financial privacy. Only share Bitcoin addresses with payers to receive payments", - "No, the master public key is not used to authorize Bitcoin transactions. That's the job of the private key. Try again", - "No. While every user can independently verify the monetary supply of in the bitcoin network with a bitcoin node, this is not what the master public key is used for. Try again." - ], - "id": "publicKey", - "question": "What is the purpose of a master public key in Bitcoin", - "text": "A master public key in Bitcoin is a key that is cryptographically derived from a Bitcoin private key and is used to generate Bitcoin addresses that payers can send Bitcoin to.\n\nIt can be used to generate an unlimited number of Bitcoin addresses from a single master public key.\n\nWhile the private key is used to authorize Bitcoin transactions and therefore needs to be kept private, the Bitcoin addresses derived from the public key can be shared with a payer to receive payments from them.\n\nMaster public keys consist of a long sequence of numbers and letters and begin with xpub, ypub or zpub.\n\nA Bitcoin address for receiving payments starts with either 1, 3 or bc1.\n", - "title": "Bitcoin Addresses and the Master Public Key", - "type": "Text" + "publicKey": { + "title": "Bitcoin Addresses and the Master Public Key", + "questions": { + "publicKey": { + "answers": [ + "To generate an unlimited number of Bitcoin addresses from a single key", + "To authorize Bitcoin transactions", + "To verify that the supply of all bitcoin in existence does not exceed 21 million" + ], + "feedback": [ + "Correct! It's worth noting that, while funds can only be moved with the private key, it might be a good idea to not share the master public key on a public forum to preserve financial privacy. Only share Bitcoin addresses with payers to receive payments", + "No, the master public key is not used to authorize Bitcoin transactions. That's the job of the private key. Try again", + "No. While every user can independently verify the monetary supply of in the bitcoin network with a bitcoin node, this is not what the master public key is used for. Try again." + ], + "question": "What is the purpose of a master public key in Bitcoin", + "text": "A master public key in Bitcoin is a key that is cryptographically derived from a Bitcoin private key and is used to generate Bitcoin addresses that payers can send Bitcoin to.\n\nIt can be used to generate an unlimited number of Bitcoin addresses from a single master public key.\n\nWhile the private key is used to authorize Bitcoin transactions and therefore needs to be kept private, the Bitcoin addresses derived from the public key can be shared with a payer to receive payments from them.\n\nMaster public keys consist of a long sequence of numbers and letters and begin with xpub, ypub or zpub.\n\nA Bitcoin address for receiving payments starts with either 1, 3 or bc1.\n", + "title": "What is the purpose of a master public key in Bitcoin" + } + } + } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.05-lesson-mining.json b/chapter-302-bitcoin-how-does-it-work/302.05-lesson-mining.json index 1e8b8f8..0963eb3 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.05-lesson-mining.json +++ b/chapter-302-bitcoin-how-does-it-work/302.05-lesson-mining.json @@ -1,17 +1,22 @@ { - "answers": [ - "To add transactions to the blockchain and secure the network", - "To make a lot of money", - "To amass giant amounts of computation power for AI to take over the world" - ], - "feedback": [ - "Correct! Miners perform work in the form of computations and compete with other miners for who can add the next block of transactions to the blockchain and earn the block reward", - "That's not the main purpose of mining. **** While it's true that miners do receive a reward in bitcoin for their efforts, they also have to pay for the electricity they use to perform computations. Try again", - "Wow, that's an ambitious goal! While it's true that mining requires a significant amount of computational power, I'm pretty sure the main purpose is not to create an army of AI overlords. Better luck next time!" - ], - "id": "mining", - "question": "What is the main purpose of mining in the bitcoin network", - "text": "When a user wants to send a transaction in the bitcoin network, they need to sign the transaction with their private key to prove that they are the owner of the funds being transferred. Once the transaction is signed, it is broadcasted to the peer-to-peer network.\n\nMining is the process of adding transactions to the bitcoin blockchain. When a transaction is broadcasted to the network, it is picked up by miners, who verify that the transaction is valid (i.e., the user has the necessary funds and the private key used to sign the transaction corresponds to the public key associated with the funds).\n\nOnce a transaction has been verified, it is added to a block of transactions, along with a mathematical puzzle. Miners compete to solve the puzzle, and the first one to solve it gets to add the block to the blockchain and claim a reward in bitcoin. The reward is currently 6.25 bitcoins, plus any transaction fees that were included in the block.\n\nIn addition to adding transactions to the blockchain, mining also serves to secure the bitcoin network. This is because solving the puzzle requires a significant amount of computational power, and adding a block to the blockchain requires other miners to verify the solution. This makes it very difficult for any one person or group to manipulate the blockchain.\n", - "title": "Mining", - "type": "Text" + "mining": { + "title": "Mining", + "questions": { + "mining": { + "answers": [ + "To add transactions to the blockchain and secure the network", + "To make a lot of money", + "To amass giant amounts of computation power for AI to take over the world" + ], + "feedback": [ + "Correct! Miners perform work in the form of computations and compete with other miners for who can add the next block of transactions to the blockchain and earn the block reward", + "That's not the main purpose of mining. **** While it's true that miners do receive a reward in bitcoin for their efforts, they also have to pay for the electricity they use to perform computations. Try again", + "Wow, that's an ambitious goal! While it's true that mining requires a significant amount of computational power, I'm pretty sure the main purpose is not to create an army of AI overlords. Better luck next time!" + ], + "question": "What is the main purpose of mining in the bitcoin network", + "text": "When a user wants to send a transaction in the bitcoin network, they need to sign the transaction with their private key to prove that they are the owner of the funds being transferred. Once the transaction is signed, it is broadcasted to the peer-to-peer network.\n\nMining is the process of adding transactions to the bitcoin blockchain. When a transaction is broadcasted to the network, it is picked up by miners, who verify that the transaction is valid (i.e., the user has the necessary funds and the private key used to sign the transaction corresponds to the public key associated with the funds).\n\nOnce a transaction has been verified, it is added to a block of transactions, along with a mathematical puzzle. Miners compete to solve the puzzle, and the first one to solve it gets to add the block to the blockchain and claim a reward in bitcoin. The reward is currently 6.25 bitcoins, plus any transaction fees that were included in the block.\n\nIn addition to adding transactions to the blockchain, mining also serves to secure the bitcoin network. This is because solving the puzzle requires a significant amount of computational power, and adding a block to the blockchain requires other miners to verify the solution. This makes it very difficult for any one person or group to manipulate the blockchain.\n", + "title": "What is the main purpose of mining in the bitcoin network" + } + } + } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.06-lesson-proof-of-work.json b/chapter-302-bitcoin-how-does-it-work/302.06-lesson-proof-of-work.json index 29c6924..b0dcf9f 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.06-lesson-proof-of-work.json +++ b/chapter-302-bitcoin-how-does-it-work/302.06-lesson-proof-of-work.json @@ -1,17 +1,22 @@ { - "answers": [ - "Through proof of work, which involves miners competing to solve a mathematical puzzle", - "By holding a lottery among all those that have bitcoins in a wallet", - "Through a process of majority voting" - ], - "feedback": [ - "Correct! Congrats on understanding how the bitcoin network creates a source of truth that cannot be manipulated by wealthy elites or insiders", - "No, this would be proof of stake, which is a different consensus mechanism that involves choosing the next block producer proportional to their stake (how many coins they hold) in the network. Try again", - "Wrong, but it's an interesting idea. The bitcoin network does not use a process of majority voting to create a source of truth. Try again!" - ], - "id": "proofOfWork", - "question": "How does the Bitcoin network create a source of truth despite having no central authority", - "text": "Decentralized systems, by definition, do not have a single source of truth.\n\nSatoshi's breakthrough was to build a system that allows all participants to zero in on the same truth independently. Proof of work is what allows this to happen. The point of proof of work is to create an irrefutable history. If two histories compete, the one with the most work embedded in it wins.\n\nThe chain with the most work is the truth, by definition. This is called Nakamoto consensus. This works because work requires energy. In Bitcoin, work is computation. Not any kind of computation, but computation that has no shortcut: guessing.\n\n In the absence of a central authority, proof of work is necessary because it ensures that there is no shortcut to adding transactions to the blockchain.\n\n Miners must compete to solve the puzzle through brute force computation, which is probabilistic in nature, and the proof that the work has been done becomes self-evident in the outcome of the work. This makes it very difficult for any one person or group to manipulate the transaction history.\n", - "title": "Proof of Work", - "type": "Text" + "proofOfWork": { + "title": "Proof of Work", + "questions": { + "proofOfWork": { + "answers": [ + "Through proof of work, which involves miners competing to solve a mathematical puzzle", + "By holding a lottery among all those that have bitcoins in a wallet", + "Through a process of majority voting" + ], + "feedback": [ + "Correct! Congrats on understanding how the bitcoin network creates a source of truth that cannot be manipulated by wealthy elites or insiders", + "No, this would be proof of stake, which is a different consensus mechanism that involves choosing the next block producer proportional to their stake (how many coins they hold) in the network. Try again", + "Wrong, but it's an interesting idea. The bitcoin network does not use a process of majority voting to create a source of truth. Try again!" + ], + "question": "How does the Bitcoin network create a source of truth despite having no central authority", + "text": "Decentralized systems, by definition, do not have a single source of truth.\n\nSatoshi's breakthrough was to build a system that allows all participants to zero in on the same truth independently. Proof of work is what allows this to happen. The point of proof of work is to create an irrefutable history. If two histories compete, the one with the most work embedded in it wins.\n\nThe chain with the most work is the truth, by definition. This is called Nakamoto consensus. This works because work requires energy. In Bitcoin, work is computation. Not any kind of computation, but computation that has no shortcut: guessing.\n\n In the absence of a central authority, proof of work is necessary because it ensures that there is no shortcut to adding transactions to the blockchain.\n\n Miners must compete to solve the puzzle through brute force computation, which is probabilistic in nature, and the proof that the work has been done becomes self-evident in the outcome of the work. This makes it very difficult for any one person or group to manipulate the transaction history.\n", + "title": "How does the Bitcoin network create a source of truth despite having no central authority" + } + } + } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.07-lesson-difficulty-adjustment.json b/chapter-302-bitcoin-how-does-it-work/302.07-lesson-difficulty-adjustment.json index bb254ba..3b2cac5 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.07-lesson-difficulty-adjustment.json +++ b/chapter-302-bitcoin-how-does-it-work/302.07-lesson-difficulty-adjustment.json @@ -1,17 +1,22 @@ { - "answers": [ - "It is reduced by half", - "It is doubled", - "It is multiplied by a random number chosen by the bitcoin software" - ], - "feedback": [ - "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", - "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", - "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" - ], - "id": "difficultyAdjustment", - "question": "What happens to the block reward in the bitcoin network every four years", - "text": "A crucial element of the Bitcoin protocol is the Difficulty Adjustment. This algorithm ensures that new blocks are found every 10 minutes on average.\n\nWhen more miners join the network, the average time required to find a new block goes down. In the opposite case, when miners leave the network, it takes longer to add a new block. The Difficulty Adjustment algorithm adjusts the difficulty of the mathematical puzzle to match changes in the combined computing power of all miners. This prevents the creation of more (or less) bitcoin units than the predetermined supply schedule.\n\nThis is in stark contrast to physical mining of precious metals like gold where adding more gold miners leads to a higher supply of gold and therefore a decrease in its price. In Bitcoin however, the addition of new miners only adds more security to the network.\n", - "title": "Difficulty Adjustment", - "type": "Text" + "difficultyAdjustment": { + "title": "Difficulty Adjustment", + "questions": { + "difficultyAdjustment": { + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "A crucial element of the Bitcoin protocol is the Difficulty Adjustment. This algorithm ensures that new blocks are found every 10 minutes on average.\n\nWhen more miners join the network, the average time required to find a new block goes down. In the opposite case, when miners leave the network, it takes longer to add a new block. The Difficulty Adjustment algorithm adjusts the difficulty of the mathematical puzzle to match changes in the combined computing power of all miners. This prevents the creation of more (or less) bitcoin units than the predetermined supply schedule.\n\nThis is in stark contrast to physical mining of precious metals like gold where adding more gold miners leads to a higher supply of gold and therefore a decrease in its price. In Bitcoin however, the addition of new miners only adds more security to the network.\n", + "title": "What happens to the block reward in the bitcoin network every four years" + } + } + } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.08-lesson-halving.json b/chapter-302-bitcoin-how-does-it-work/302.08-lesson-halving.json index 3c1e1de..ca61108 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.08-lesson-halving.json +++ b/chapter-302-bitcoin-how-does-it-work/302.08-lesson-halving.json @@ -1,17 +1,22 @@ { - "answers": [ - "It is reduced by half", - "It is doubled", - "It is multiplied by a random number chosen by the bitcoin software" - ], - "feedback": [ - "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", - "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", - "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" - ], - "id": "halving", - "question": "What happens to the block reward in the bitcoin network every four years", - "text": "One final element that is important to understand, is that the block reward in the bitcoin network is reduced by half every four years, or every 210,000 blocks.\n\nThis event, known as the \"halving\", is programmed into the bitcoin software that all users run. When bitcoin was first launched, miners received 50 new bitcoins for each block they added to the blockchain. Currently, the block reward is 6.25 bitcoins, but it will be reduced to 3.125 bitcoins in 2024 when the next halving occurs.\n\nThese halvings will continue to take place until the year 2140, at which point the total number of bitcoins that will have been mined will be capped at 21 million. As of 2023, around 92% of all bitcoins (\\~19.3 million) have already been mined.\n\nUnlike fiat currencies, which can be inflationary, bitcoin is disinflationary in nature. This makes it more scarce than fiat and precious metals such as gold and silver, or anything else known in the universe.\n", - "title": "The Halving", - "type": "Text" + "halving": { + "title": "The Halving", + "questions": { + "halving": { + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "One final element that is important to understand, is that the block reward in the bitcoin network is reduced by half every four years, or every 210,000 blocks.\n\nThis event, known as the \"halving\", is programmed into the bitcoin software that all users run. When bitcoin was first launched, miners received 50 new bitcoins for each block they added to the blockchain. Currently, the block reward is 6.25 bitcoins, but it will be reduced to 3.125 bitcoins in 2024 when the next halving occurs.\n\nThese halvings will continue to take place until the year 2140, at which point the total number of bitcoins that will have been mined will be capped at 21 million. As of 2023, around 92% of all bitcoins (\\~19.3 million) have already been mined.\n\nUnlike fiat currencies, which can be inflationary, bitcoin is disinflationary in nature. This makes it more scarce than fiat and precious metals such as gold and silver, or anything else known in the universe.\n", + "title": "What happens to the block reward in the bitcoin network every four years" + } + } + } } diff --git a/chapter-401-lightning-network/401-combined.json b/chapter-401-lightning-network/401-combined.json index ad2ba4a..22f14f2 100644 --- a/chapter-401-lightning-network/401-combined.json +++ b/chapter-401-lightning-network/401-combined.json @@ -1,144 +1,178 @@ -{ - "content": [ - { - "answers": [ - "It takes too long to confirm transactions", - "It is difficult to use", - "It is not a trusted intermediary" - ], - "feedback": [ - "Correct! Great job! You may be pleased to hear that solutions have been deployed to improve the settlement time of Bitcoin payments to a few seconds. ", - "Wrong! But you are forgiven, Bitcoin is actually very easy to use. Try again", - "Wrong! But don't worry, Bitcoin actually allows anyone to send value without a trusted intermediary. Try again!" - ], - "id": "bitcoinDrawbacks", - "question": "What is a drawback of Bitcoin's design", - "text": "Bitcoin, the world's most widely used and valuable digital currency, allows anyone to send value without a trusted intermediary.\n\nThere are, however, some drawbacks to bitcoin's design which prioritizes security and decentralization at the cost of scalability.\n\nTransactions confirmed on the bitcoin blockchain take up to one hour before they are irreversible.\n\nMicropayments, or payments less than a few cents, are inconsistently confirmed, and fees render such transactions unviable on the network today.\n\nCurrently, Bitcoin's blockchain can process around 3 transactions per second. This is generally seen as an impediment for Bitcoin to become a currency that facilitates the everyday retail transactions of millions around the world.\n", +[ + { + "bitcoinDrawbacks": { "title": "Drawbacks of Bitcoin", - "type": "Text" - }, - { - "answers": [ - "Whether or not to increase the blocksize", - "Whether or not to censor certain transactions", - "Whether or not to change the consensus algorithm to proof of stake" - ], - "feedback": [ - "Correct. The users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network, showing that Bitcoin is controlled by users, not corporations", - "Not quite. Both sides were publicly in favor of preserving censorship-resistance, however companies in the Bitcoin ecosystem were willing to accept some centralization in exchange for quick wins in scalability. Try again", - "Haha, but no. While there are some dubious voices that demand the abolishment of proof of work in favor of proof of stake, this was never a debate in Bitcoin, and never will be. Try again." - ], - "id": "blocksizeWars", - "question": "What was the contention in the Blocksize Wars", - "text": "These drawbacks lead to a debate within the Bitcoin community about the best way to scale the Bitcoin network, often dubbed the Blocksize Wars.\n\nCompanies in the Bitcoin ecosystem argued that increasing the blocksize, which is the maximum size of a block of transactions on the blockchain, would allow more transactions to be processed per second, making the network more efficient and able to handle a larger volume of transactions.\n\nBitcoin users on the other side of the debate argued that increasing the blocksize would centralize the network, as it would require more expensive and powerful computers to process the larger blocks, and could potentially lead to Bitcoin becoming prone to censorship.\n\nThe users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network and demonstrated that Bitcoin is controlled by users, not corporations. This also meant that scaling Bitcoin would require a different enigneering solution than merely increasing the blocksize.\n", + "questions": { + "bitcoinDrawbacks": { + "answers": [ + "It takes too long to confirm transactions", + "It is difficult to use", + "It is not a trusted intermediary" + ], + "feedback": [ + "Correct! Great job! You may be pleased to hear that solutions have been deployed to improve the settlement time of Bitcoin payments to a few seconds. ", + "Wrong! But you are forgiven, Bitcoin is actually very easy to use. Try again", + "Wrong! But don't worry, Bitcoin actually allows anyone to send value without a trusted intermediary. Try again!" + ], + "question": "What is a drawback of Bitcoin's design", + "text": "Bitcoin, the world's most widely used and valuable digital currency, allows anyone to send value without a trusted intermediary.\n\nThere are, however, some drawbacks to bitcoin's design which prioritizes security and decentralization at the cost of scalability.\n\nTransactions confirmed on the bitcoin blockchain take up to one hour before they are irreversible.\n\nMicropayments, or payments less than a few cents, are inconsistently confirmed, and fees render such transactions unviable on the network today.\n\nCurrently, Bitcoin's blockchain can process around 3 transactions per second. This is generally seen as an impediment for Bitcoin to become a currency that facilitates the everyday retail transactions of millions around the world.\n", + "title": "What is a drawback of Bitcoin's design" + } + } + } + }, + { + "blocksizeWars": { "title": "The Blocksize Wars", - "type": "Text" - }, - { - "answers": [ - "It allows users to make small, near instant payments at low cost", - "It helps users preserve the decentralization of the Bitcoin network", - "It ensures that every transaction is added to the Bitcoin blockchain" - ], - "feedback": [ - "Correct! The Lightning Network allows users to make small, near instant payments at low cost, and it eliminates the need for every transaction to be added to the Bitcoin blockchain. Congrats! As a fun fact, the Lightning Network has helped increase the adoption of Bitcoin by allowing it to process more transactions per second and handle higher volumes of transactions", - "Incorrect! The Lightning Network is actually a scaling solution built on top of the Bitcoin protocol. Try again", - "Incorrect! The Lightning Network actually eliminates the need for every transaction to be added to the Bitcoin blockchain, as it allows for smaller payments to be made off-chain." - ], - "id": "lightningNetwork", - "question": "What does the Lightning Network do", - "text": "While users prevailed and preserved the decentralization of the Bitcoin network, a solution to scale Bitcoin proposed by researchers Tadge Dryja and Joseph Poon, called the Lightning Network, started to gain traction and was launched in 2017.\n\nThe Lightning Network, often referred to as just Lightning or LN, is a scaling solution built on top of the Bitcoin protocol. It facilitates smaller, near instant payments between users at very low cost and eliminates the need for every transaction to be added to the Bitcoin blockchain whilst ensuring that the value being transacted abides by the rules of the Bitcoin network.\n", + "questions": { + "blocksizeWars": { + "answers": [ + "Whether or not to increase the blocksize", + "Whether or not to censor certain transactions", + "Whether or not to change the consensus algorithm to proof of stake" + ], + "feedback": [ + "Correct. The users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network, showing that Bitcoin is controlled by users, not corporations", + "Not quite. Both sides were publicly in favor of preserving censorship-resistance, however companies in the Bitcoin ecosystem were willing to accept some centralization in exchange for quick wins in scalability. Try again", + "Haha, but no. While there are some dubious voices that demand the abolishment of proof of work in favor of proof of stake, this was never a debate in Bitcoin, and never will be. Try again." + ], + "question": "What was the contention in the Blocksize Wars", + "text": "These drawbacks lead to a debate within the Bitcoin community about the best way to scale the Bitcoin network, often dubbed the Blocksize Wars.\n\nCompanies in the Bitcoin ecosystem argued that increasing the blocksize, which is the maximum size of a block of transactions on the blockchain, would allow more transactions to be processed per second, making the network more efficient and able to handle a larger volume of transactions.\n\nBitcoin users on the other side of the debate argued that increasing the blocksize would centralize the network, as it would require more expensive and powerful computers to process the larger blocks, and could potentially lead to Bitcoin becoming prone to censorship.\n\nThe users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network and demonstrated that Bitcoin is controlled by users, not corporations. This also meant that scaling Bitcoin would require a different enigneering solution than merely increasing the blocksize.\n", + "title": "What was the contention in the Blocksize Wars" + } + } + } + }, + { + "lightningNetwork": { "title": "The Lightning Network", - "type": "Text" - }, - { - "answers": [ - "A matter of seconds", - "10 minutes", - "1 hour" - ], - "feedback": [ - "Correct! This makes the Lightning Network a great option for situations where you need to make a payment immediately, such as retail transactions or peer-to-peer payments", - "Incorrect! On the Bitcoin network, transactions are grouped into blocks that are added to the blockchain about every 10 minutes. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure. Try again", - "Incorrect! On the Bitcoin network, payments are considered secure after they have been confirmed by six blocks, or about an hour. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure." - ], - "id": "instantPayments", - "question": "How long does it take for a payment to be considered secure on the Lightning Network", - "text": "In the Bitcoin network, transactions are grouped together in blocks, and new blocks are added to the blockchain about every 10 minutes. When a payment is made using Bitcoin, it is considered secure after it has been confirmed by six blocks, or about an hour.\n\nOn the Lightning Network, payments do not have to wait for block confirmations to be considered secure. Instead, they are instant and completed all at once in a matter of few seconds.\n\nThis makes it possible to use the Lightning Network for retail transactions, peer-to-peer payments, or any other situation where you need to make a payment immediately.\n", + "questions": { + "lightningNetwork": { + "answers": [ + "It allows users to make small, near instant payments at low cost", + "It helps users preserve the decentralization of the Bitcoin network", + "It ensures that every transaction is added to the Bitcoin blockchain" + ], + "feedback": [ + "Correct! The Lightning Network allows users to make small, near instant payments at low cost, and it eliminates the need for every transaction to be added to the Bitcoin blockchain. Congrats! As a fun fact, the Lightning Network has helped increase the adoption of Bitcoin by allowing it to process more transactions per second and handle higher volumes of transactions", + "Incorrect! The Lightning Network is actually a scaling solution built on top of the Bitcoin protocol. Try again", + "Incorrect! The Lightning Network actually eliminates the need for every transaction to be added to the Bitcoin blockchain, as it allows for smaller payments to be made off-chain." + ], + "question": "What does the Lightning Network do", + "text": "While users prevailed and preserved the decentralization of the Bitcoin network, a solution to scale Bitcoin proposed by researchers Tadge Dryja and Joseph Poon, called the Lightning Network, started to gain traction and was launched in 2017.\n\nThe Lightning Network, often referred to as just Lightning or LN, is a scaling solution built on top of the Bitcoin protocol. It facilitates smaller, near instant payments between users at very low cost and eliminates the need for every transaction to be added to the Bitcoin blockchain whilst ensuring that the value being transacted abides by the rules of the Bitcoin network.\n", + "title": "What does the Lightning Network do" + } + } + } + }, + { + "instantPayments": { "title": "Instant Payments", - "type": "Text" - }, - { - "answers": [ - "A payment for a small amount of money, often less than a dollar", - "A payment that requires a minimum amount and fixed fee", - "A payment made using the Lightning Network" - ], - "feedback": [ - "Exactly! These types of payments can be difficult to make using traditional financial systems or the Bitcoin network, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical", - "Nope**.** While traditional financial systems may require a minimum amount and fixed fee for payments, the Lightning Network allows for the possibility of making very small payments without these limitations", - "Not quite! While the Lightning Network does allow for the possibility of making micropayments, a micropayment is not defined as a payment made using the Lightning Network. Try again!" - ], - "id": "micropayments", - "question": "What is a micropayment", - "text": "Micropayments refer to very small financial transactions, often for amounts less than a dollar. These types of payments can be difficult to make using traditional financial systems, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical.\n\nThe Lightning Network allows for the possibility of making micropayments using Bitcoin. It enables users to send very small amounts of Bitcoin, down to 1 sat, without the risk of losing control of their funds to a third party (called \"custodial risk\"). \n\nIn contrast, the Bitcoin blockchain currently has minimum transaction amounts and fees that make micropayments impractical. The Lightning Network allows for minimal payments denominated in Bitcoin, using actual Bitcoin transactions. This opens up the possibility of creating new markets and making small payments more practical.\n", + "questions": { + "instantPayments": { + "answers": [ + "A matter of seconds", + "10 minutes", + "1 hour" + ], + "feedback": [ + "Correct! This makes the Lightning Network a great option for situations where you need to make a payment immediately, such as retail transactions or peer-to-peer payments", + "Incorrect! On the Bitcoin network, transactions are grouped into blocks that are added to the blockchain about every 10 minutes. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure. Try again", + "Incorrect! On the Bitcoin network, payments are considered secure after they have been confirmed by six blocks, or about an hour. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure." + ], + "question": "How long does it take for a payment to be considered secure on the Lightning Network", + "text": "In the Bitcoin network, transactions are grouped together in blocks, and new blocks are added to the blockchain about every 10 minutes. When a payment is made using Bitcoin, it is considered secure after it has been confirmed by six blocks, or about an hour.\n\nOn the Lightning Network, payments do not have to wait for block confirmations to be considered secure. Instead, they are instant and completed all at once in a matter of few seconds.\n\nThis makes it possible to use the Lightning Network for retail transactions, peer-to-peer payments, or any other situation where you need to make a payment immediately.\n", + "title": "How long does it take for a payment to be considered secure on the Lightning Network" + } + } + } + }, + { + "micropayments": { "title": "Micropayments", - "type": "Text" - }, - { - "answers": [ - "To meet the demand for retail and automated payments", - "To make Bitcoin more attractive to investors", - "To get the required licences for interoperability with financial institutions" - ], - "feedback": [ - "That's right. The Lightning Network helps the Bitcoin network achieve scalability by allowing users to conduct nearly unlimited transactions off-chain on a second layer", - "That's not it! While improving the attractiveness of Bitcoin to investors could be a benefit of improving scalability, it is not the main reason why scalability is important for the Bitcoin network", - "Try again! **** Obtaining required licenses for interoperability with financial institutions may be a goal for some organizations working with Bitcoin, but it is not directly related to the concept of scalability." - ], - "id": "scalability", - "question": "Why is scalability important for the Bitcoin network", - "text": "Scalability refers to the ability of a system, such as a network or platform, to handle a large amount of usage or traffic without experiencing issues or slowdowns.\n\nScalability is important for Bitcoin because the network will need to be able to support a much higher volume of transactions in order to meet the demand of retail and automated payments.\n\nThe Lightning Network allows users to conduct nearly unlimited transactions between each other outside of the Bitcoin blockchain, or off-chain.\n\nThis means that transactions can be conducted without the need for each one to be recorded on the blockchain, which helps to reduce the load on the network and allows it to handle more transactions.\n", + "questions": { + "micropayments": { + "answers": [ + "A payment for a small amount of money, often less than a dollar", + "A payment that requires a minimum amount and fixed fee", + "A payment made using the Lightning Network" + ], + "feedback": [ + "Exactly! These types of payments can be difficult to make using traditional financial systems or the Bitcoin network, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical", + "Nope**.** While traditional financial systems may require a minimum amount and fixed fee for payments, the Lightning Network allows for the possibility of making very small payments without these limitations", + "Not quite! While the Lightning Network does allow for the possibility of making micropayments, a micropayment is not defined as a payment made using the Lightning Network. Try again!" + ], + "question": "What is a micropayment", + "text": "Micropayments refer to very small financial transactions, often for amounts less than a dollar. These types of payments can be difficult to make using traditional financial systems, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical.\n\nThe Lightning Network allows for the possibility of making micropayments using Bitcoin. It enables users to send very small amounts of Bitcoin, down to 1 sat, without the risk of losing control of their funds to a third party (called \"custodial risk\"). \n\nIn contrast, the Bitcoin blockchain currently has minimum transaction amounts and fees that make micropayments impractical. The Lightning Network allows for minimal payments denominated in Bitcoin, using actual Bitcoin transactions. This opens up the possibility of creating new markets and making small payments more practical.\n", + "title": "What is a micropayment" + } + } + } + }, + { + "scalability": { "title": "Scalability", - "type": "Text" - }, - { - "answers": [ - "By pushing bitcoin from one side of the channel to the other each time a payment is made", - "By broadcasting every transaction immediately to the Bitcoin blockchain as soon as it happens", - "By paying a commission to a 3rd party payment provider" - ], - "feedback": [ - "That's right! Think of moving bitcoin in a Lightning channel like moving beads on an abacus. Each side keeps track of how much is on their side until it's time to settle on the Bitcoin blockchain. Good job", - "Quite the opposite! Payment channels in Lightning avoid broadcasting every transaction by aggregating them. Try again", - "Uhm no, actually payments in Lightning Network save the users fees for not settling every transaction on the blockchain. Try again!" - ], - "id": "paymentChannels", - "question": "How do payment channels in the Lightning Network allow users to pay each other", - "text": "The Lightning Network consists of thousands of two party payment channels.\n\nYou may think of a Lightning channel like opening a tab at your local bar. Instead of pulling out your wallet and paying each time you order a drink, it makes sense to save time, energy and fees by tallying all your drinks together at the end of the night and making the final settlement in one payment.\n\nLightning works similar. Each time a payment is made from person A to person B, bitcoin are pushed from one side of the channel to the other. Two users can pay one another back and forth as many times as they like, almost instantly and with close to no fees.\n", + "questions": { + "scalability": { + "answers": [ + "To meet the demand for retail and automated payments", + "To make Bitcoin more attractive to investors", + "To get the required licences for interoperability with financial institutions" + ], + "feedback": [ + "That's right. The Lightning Network helps the Bitcoin network achieve scalability by allowing users to conduct nearly unlimited transactions off-chain on a second layer", + "That's not it! While improving the attractiveness of Bitcoin to investors could be a benefit of improving scalability, it is not the main reason why scalability is important for the Bitcoin network", + "Try again! **** Obtaining required licenses for interoperability with financial institutions may be a goal for some organizations working with Bitcoin, but it is not directly related to the concept of scalability." + ], + "question": "Why is scalability important for the Bitcoin network", + "text": "Scalability refers to the ability of a system, such as a network or platform, to handle a large amount of usage or traffic without experiencing issues or slowdowns.\n\nScalability is important for Bitcoin because the network will need to be able to support a much higher volume of transactions in order to meet the demand of retail and automated payments.\n\nThe Lightning Network allows users to conduct nearly unlimited transactions between each other outside of the Bitcoin blockchain, or off-chain.\n\nThis means that transactions can be conducted without the need for each one to be recorded on the blockchain, which helps to reduce the load on the network and allows it to handle more transactions.\n", + "title": "Why is scalability important for the Bitcoin network" + } + } + } + }, + { + "paymentChannels": { "title": "How does Lighning work?", - "type": "Text" - }, - { - "answers": [ - "By using a network of intermediaries to route payments between users", - "By using teleportation to instantly transfer bitcoin from one user to another", - "By using a virtual reality simulation to simulate the transfer of bitcoin between users" - ], - "feedback": [ - "Correct! This is like delivering a package from one person to another by passing it along a series of friendly postmen! Congrats", - "Hah no, this isn't science-fiction from Star Trek, but real world cryptographic engineering! Try again", - "May I interest you for a simulation of a simulation? Jokes aside, this isn't it. Try again!" - ], - "id": "routing", - "question": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel", - "text": "You may be thinking that setting up a payment channel with hundreds of businesses could be tedious, but no. The beauty of the Lightning Network is that it is a network of channels stitched together.\n\nLet us say Bob convinced his friend Carol to also join the Lightning Network. Alice has a channel with Bob, and Bob has a channel with Carol. Alice and Carol can then pay each other by “routing” through Bob.\n\nSome pretty clever cryptographic tricks guarantee that Bob cannot steal the money while it’s passing through him.\n\nWhen you make a payment on the Lightning Network, your node searches for a path of channels between you and your destination. This is what’s referred to as routing. This is of course all done automatically by the involved Lightning nodes, enabling it to happen in the blink of an eye.\n", + "questions": { + "paymentChannels": { + "answers": [ + "By pushing bitcoin from one side of the channel to the other each time a payment is made", + "By broadcasting every transaction immediately to the Bitcoin blockchain as soon as it happens", + "By paying a commission to a 3rd party payment provider" + ], + "feedback": [ + "That's right! Think of moving bitcoin in a Lightning channel like moving beads on an abacus. Each side keeps track of how much is on their side until it's time to settle on the Bitcoin blockchain. Good job", + "Quite the opposite! Payment channels in Lightning avoid broadcasting every transaction by aggregating them. Try again", + "Uhm no, actually payments in Lightning Network save the users fees for not settling every transaction on the blockchain. Try again!" + ], + "question": "How do payment channels in the Lightning Network allow users to pay each other", + "text": "The Lightning Network consists of thousands of two party payment channels.\n\nYou may think of a Lightning channel like opening a tab at your local bar. Instead of pulling out your wallet and paying each time you order a drink, it makes sense to save time, energy and fees by tallying all your drinks together at the end of the night and making the final settlement in one payment.\n\nLightning works similar. Each time a payment is made from person A to person B, bitcoin are pushed from one side of the channel to the other. Two users can pay one another back and forth as many times as they like, almost instantly and with close to no fees.\n", + "title": "How do payment channels in the Lightning Network allow users to pay each other" + } + } + } + }, + { + "routing": { "title": "Routing", - "type": "Text" + "questions": { + "routing": { + "answers": [ + "By using a network of intermediaries to route payments between users", + "By using teleportation to instantly transfer bitcoin from one user to another", + "By using a virtual reality simulation to simulate the transfer of bitcoin between users" + ], + "feedback": [ + "Correct! This is like delivering a package from one person to another by passing it along a series of friendly postmen! Congrats", + "Hah no, this isn't science-fiction from Star Trek, but real world cryptographic engineering! Try again", + "May I interest you for a simulation of a simulation? Jokes aside, this isn't it. Try again!" + ], + "question": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel", + "text": "You may be thinking that setting up a payment channel with hundreds of businesses could be tedious, but no. The beauty of the Lightning Network is that it is a network of channels stitched together.\n\nLet us say Bob convinced his friend Carol to also join the Lightning Network. Alice has a channel with Bob, and Bob has a channel with Carol. Alice and Carol can then pay each other by “routing” through Bob.\n\nSome pretty clever cryptographic tricks guarantee that Bob cannot steal the money while it’s passing through him.\n\nWhen you make a payment on the Lightning Network, your node searches for a path of channels between you and your destination. This is what’s referred to as routing. This is of course all done automatically by the involved Lightning nodes, enabling it to happen in the blink of an eye.\n", + "title": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel" + } + } } - ], - "meta": { - "id": "Lightning:Whatdoesitsolve?", - "title": "Lightning: What does it solve?" } -} +] diff --git a/chapter-401-lightning-network/401-es-combined.json b/chapter-401-lightning-network/401-es-combined.json deleted file mode 100644 index 540499f..0000000 --- a/chapter-401-lightning-network/401-es-combined.json +++ /dev/null @@ -1,144 +0,0 @@ -{ - "content": [ - { - "answers": [ - "Se tarda demasiado en confirmar las transacciones.", - "Es dificil de usar", - "No es un intermediario de confianza." - ], - "feedback": [ - "\u00a1Correcto! \u00a1Gran trabajo! Quiz\u00e1s le complazca saber que se han implementado soluciones para mejorar el tiempo de liquidaci\u00f3n de los pagos de Bitcoin a unos pocos segundos.", - "\u00a1Equivocado! Pero est\u00e1s perdonado, Bitcoin es realmente muy f\u00e1cil de usar. Intentar otra vez", - "\u00a1Equivocado! Pero no te preocupes, Bitcoin permite a cualquiera enviar valor sin un intermediario de confianza. \u00a1Intentar otra vez!" - ], - "id": "bitcoinDesventajas", - "question": "\u00bfCu\u00e1l es el inconveniente del dise\u00f1o de Bitcoin?", - "text": "Bitcoin, la moneda digital m\u00e1s utilizada y valiosa del mundo, permite a cualquiera enviar valor sin un intermediario confiable.\n\nSin embargo, existen algunos inconvenientes en el dise\u00f1o de Bitcoin, que prioriza la seguridad y la descentralizaci\u00f3n a costa de la escalabilidad.\n\nLas transacciones confirmadas en la cadena de bloques de bitcoin tardan hasta una hora antes de que sean irreversibles.\n\nLos micropagos, o pagos de menos de unos pocos centavos, se confirman de manera inconsistente y las tarifas hacen que dichas transacciones sean inviables en la red actual.\n\nActualmente, la cadena de bloques de Bitcoin puede procesar alrededor de 3 transacciones por segundo. En general, esto se considera un impedimento para que Bitcoin se convierta en una moneda que facilite las transacciones minoristas diarias de millones de personas en todo el mundo.\n", - "title": "Desventajas de Bitcoin", - "type": "Texto" - }, - { - "answers": [ - "Si aumentar o no el tama\u00f1o del bloque", - "Si censurar o no ciertas transacciones", - "Si se debe cambiar o no el algoritmo de consenso a prueba de participaci\u00f3n" - ], - "feedback": [ - "Correcto. Los usuarios finalmente prevalecieron en la preservaci\u00f3n de la descentralizaci\u00f3n y la resistencia a la censura de la red Bitcoin, lo que demuestra que Bitcoin est\u00e1 controlado por los usuarios, no por las corporaciones.", - "No exactamente. Ambas partes estaban p\u00fablicamente a favor de preservar la resistencia a la censura, sin embargo, las empresas del ecosistema Bitcoin estaban dispuestas a aceptar cierta centralizaci\u00f3n a cambio de ganancias r\u00e1pidas en escalabilidad. Intentar otra vez", - "Jaja, pero no. Si bien hay algunas voces dudosas que exigen la abolici\u00f3n de la prueba de trabajo en favor de la prueba de participaci\u00f3n, esto nunca fue un debate en Bitcoin, y nunca lo ser\u00e1. Intentar otra vez." - ], - "id": "tama\u00f1o de bloqueGuerras", - "question": "\u00bfCu\u00e1l fue la contienda en las Guerras de Tama\u00f1o de Bloques?", - "text": "Estos inconvenientes llevan a un debate dentro de la comunidad Bitcoin sobre la mejor manera de escalar la red Bitcoin, a menudo denominado Blocksize Wars.\n\nLas empresas del ecosistema Bitcoin argumentaron que aumentar el tama\u00f1o del bloque, que es el tama\u00f1o m\u00e1ximo de un bloque de transacciones en la cadena de bloques, permitir\u00eda procesar m\u00e1s transacciones por segundo, haciendo que la red sea m\u00e1s eficiente y capaz de manejar un mayor volumen de transacciones.\n\nLos usuarios de Bitcoin del otro lado del debate argumentaron que aumentar el tama\u00f1o de los bloques centralizar\u00eda la red, ya que requerir\u00eda computadoras m\u00e1s caras y potentes para procesar los bloques m\u00e1s grandes, y podr\u00eda llevar potencialmente a que Bitcoin se volviera propenso a la censura.\n\nLos usuarios finalmente prevalecieron en la preservaci\u00f3n de la descentralizaci\u00f3n y la resistencia a la censura de la red Bitcoin y demostraron que Bitcoin est\u00e1 controlado por los usuarios, no por las corporaciones. Esto tambi\u00e9n significaba que escalar Bitcoin requerir\u00eda una soluci\u00f3n de ingenier\u00eda diferente a simplemente aumentar el tama\u00f1o del bloque.\n", - "title": "Las guerras del tama\u00f1o de bloques", - "type": "Texto" - }, - { - "answers": [ - "Permite a los usuarios realizar pagos peque\u00f1os, casi instant\u00e1neos y a bajo coste.", - "Ayuda a los usuarios a preservar la descentralizaci\u00f3n de la red Bitcoin.", - "Garantiza que cada transacci\u00f3n se agregue a la cadena de bloques de Bitcoin." - ], - "feedback": [ - "\u00a1Correcto! Lightning Network permite a los usuarios realizar pagos peque\u00f1os, casi instant\u00e1neos, a bajo costo y elimina la necesidad de agregar cada transacci\u00f3n a la cadena de bloques de Bitcoin. \u00a1Felicitaciones! Como dato curioso, Lightning Network ha ayudado a aumentar la adopci\u00f3n de Bitcoin al permitirle procesar m\u00e1s transacciones por segundo y manejar mayores vol\u00famenes de transacciones.", - "\u00a1Incorrecto! Lightning Network es en realidad una soluci\u00f3n de escalabilidad construida sobre el protocolo Bitcoin. Intentar otra vez", - "\u00a1Incorrecto! Lightning Network en realidad elimina la necesidad de agregar cada transacci\u00f3n a la cadena de bloques de Bitcoin, ya que permite realizar pagos m\u00e1s peque\u00f1os fuera de la cadena." - ], - "id": "rel\u00e1mpagored", - "question": "\u00bfQu\u00e9 hace Lightning Network?", - "text": "Si bien los usuarios prevalecieron y preservaron la descentralizaci\u00f3n de la red Bitcoin, una soluci\u00f3n para escalar Bitcoin propuesta por los investigadores Tadge Dryja y Joseph Poon, llamada Lightning Network, comenz\u00f3 a ganar terreno y se lanz\u00f3 en 2017.\n\nLightning Network, a menudo denominada simplemente Lightning o LN, es una soluci\u00f3n de escalabilidad construida sobre el protocolo Bitcoin. Facilita pagos m\u00e1s peque\u00f1os y casi instant\u00e1neos entre usuarios a un costo muy bajo y elimina la necesidad de agregar cada transacci\u00f3n a la cadena de bloques de Bitcoin, al tiempo que garantiza que el valor de la transacci\u00f3n cumpla con las reglas de la red de Bitcoin.\n", - "title": "La red rel\u00e1mpago", - "type": "Texto" - }, - { - "answers": [ - "Cuesti\u00f3n de segundos", - "10 minutos", - "1 hora" - ], - "feedback": [ - "\u00a1Correcto! Esto hace que Lightning Network sea una excelente opci\u00f3n para situaciones en las que necesita realizar un pago de inmediato, como transacciones minoristas o pagos entre pares.", - "\u00a1Incorrecto! En la red Bitcoin, las transacciones se agrupan en bloques que se agregan a la cadena de bloques cada 10 minutos aproximadamente. Sin embargo, en Lightning Network, los pagos no necesitan esperar a que se confirmen los bloques para considerarse seguros. Intentar otra vez", - "\u00a1Incorrecto! En la red Bitcoin, los pagos se consideran seguros despu\u00e9s de haber sido confirmados por seis bloques, o aproximadamente una hora. Sin embargo, en Lightning Network, los pagos no necesitan esperar a que se confirmen los bloques para considerarse seguros." - ], - "id": "pagos instant\u00e1neos", - "question": "\u00bfCu\u00e1nto tiempo lleva para que un pago se considere seguro en Lightning Network?", - "text": "En la red Bitcoin, las transacciones se agrupan en bloques y se agregan nuevos bloques a la cadena de bloques aproximadamente cada 10 minutos. Cuando se realiza un pago con Bitcoin, se considera seguro despu\u00e9s de haber sido confirmado por seis bloques, o aproximadamente una hora.\n\nEn Lightning Network, los pagos no tienen que esperar a que se confirmen los bloques para considerarse seguros. En cambio, son instant\u00e1neos y se completan todos a la vez en cuesti\u00f3n de segundos.\n\nEsto hace posible utilizar Lightning Network para transacciones minoristas, pagos entre pares o cualquier otra situaci\u00f3n en la que necesite realizar un pago de inmediato.\n", - "title": "Pagos instant\u00e1neos", - "type": "Texto" - }, - { - "answers": [ - "Un pago por una peque\u00f1a cantidad de dinero, a menudo menos de un d\u00f3lar.", - "Un pago que requiere un monto m\u00ednimo y una tarifa fija", - "Un pago realizado utilizando Lightning Network" - ], - "feedback": [ - "\u00a1Exactamente! Estos tipos de pagos pueden ser dif\u00edciles de realizar utilizando los sistemas financieros tradicionales o la red Bitcoin, ya que a menudo tienen montos m\u00ednimos que se pueden transferir y tarifas fijas que pueden hacer que los pagos peque\u00f1os no sean pr\u00e1cticos.", - "No**.** Si bien los sistemas financieros tradicionales pueden requerir un monto m\u00ednimo y una tarifa fija para los pagos, Lightning Network permite la posibilidad de realizar pagos muy peque\u00f1os sin estas limitaciones.", - "\u00a1No exactamente! Si bien Lightning Network permite la posibilidad de realizar micropagos, un micropago no se define como un pago realizado mediante Lightning Network. \u00a1Intentar otra vez!" - ], - "id": "micropagos", - "question": "\u00bfQu\u00e9 es un micropago?", - "text": "Los micropagos se refieren a transacciones financieras muy peque\u00f1as, a menudo por montos inferiores a un d\u00f3lar. Estos tipos de pagos pueden ser dif\u00edciles de realizar utilizando los sistemas financieros tradicionales, ya que a menudo tienen montos m\u00ednimos que pueden transferirse y tarifas fijas que pueden hacer que los pagos peque\u00f1os no sean pr\u00e1cticos.\n\nLightning Network permite la posibilidad de realizar micropagos utilizando Bitcoin. Permite a los usuarios enviar cantidades muy peque\u00f1as de Bitcoin, hasta 1 sat, sin el riesgo de perder el control de sus fondos a un tercero (lo que se denomina \"riesgo de custodia\").\n\nPor el contrario, la cadena de bloques de Bitcoin actualmente tiene montos m\u00ednimos de transacci\u00f3n y tarifas que hacen que los micropagos no sean pr\u00e1cticos. Lightning Network permite pagos m\u00ednimos denominados en Bitcoin, utilizando transacciones reales de Bitcoin. Esto abre la posibilidad de crear nuevos mercados y hacer m\u00e1s pr\u00e1cticos los peque\u00f1os pagos.\n", - "title": "Micropagos", - "type": "Texto" - }, - { - "answers": [ - "Para satisfacer la demanda de pagos minoristas y automatizados", - "Para hacer que Bitcoin sea m\u00e1s atractivo para los inversores", - "Obtener las licencias requeridas para la interoperabilidad con instituciones financieras." - ], - "feedback": [ - "As\u00ed es. Lightning Network ayuda a la red Bitcoin a lograr escalabilidad al permitir a los usuarios realizar transacciones casi ilimitadas fuera de la cadena en una segunda capa.", - "Eso no es todo! Si bien mejorar el atractivo de Bitcoin para los inversores podr\u00eda ser un beneficio al mejorar la escalabilidad, no es la raz\u00f3n principal por la que la escalabilidad es importante para la red Bitcoin.", - "\u00a1Intentar otra vez! **** Obtener las licencias necesarias para la interoperabilidad con instituciones financieras puede ser un objetivo para algunas organizaciones que trabajan con Bitcoin, pero no est\u00e1 directamente relacionado con el concepto de escalabilidad." - ], - "id": "escalabilidad", - "question": "\u00bfPor qu\u00e9 es importante la escalabilidad para la red Bitcoin?", - "text": "La escalabilidad se refiere a la capacidad de un sistema, como una red o plataforma, para manejar una gran cantidad de uso o tr\u00e1fico sin experimentar problemas o ralentizaciones.\n\nLa escalabilidad es importante para Bitcoin porque la red deber\u00e1 poder soportar un volumen mucho mayor de transacciones para satisfacer la demanda de pagos minoristas y automatizados.\n\nLightning Network permite a los usuarios realizar transacciones casi ilimitadas entre s\u00ed fuera de la cadena de bloques de Bitcoin o fuera de la cadena.\n\nEsto significa que las transacciones se pueden realizar sin necesidad de que cada una quede registrada en la blockchain, lo que ayuda a reducir la carga en la red y le permite manejar m\u00e1s transacciones.\n", - "title": "Escalabilidad", - "type": "Texto" - }, - { - "answers": [ - "Empujando bitcoin de un lado al otro del canal cada vez que se realiza un pago", - "Transmitiendo cada transacci\u00f3n inmediatamente a la cadena de bloques de Bitcoin tan pronto como suceda.", - "Pagando una comisi\u00f3n a un proveedor de pagos externo" - ], - "feedback": [ - "\u00a1As\u00ed es! Piense en mover bitcoins en un canal Lightning como mover cuentas en un \u00e1baco. Cada lado realiza un seguimiento de cu\u00e1nto est\u00e1 de su lado hasta que llega el momento de decidirse por la cadena de bloques de Bitcoin. Buen trabajo", - "\u00a1Todo lo contrario! Los canales de pago en Lightning evitan transmitir cada transacci\u00f3n al agregarlas. Intentar otra vez", - "Uhm no, en realidad los pagos en Lightning Network ahorran a los usuarios tarifas por no liquidar todas las transacciones en la cadena de bloques. \u00a1Intentar otra vez!" - ], - "id": "canales de pago", - "question": "\u00bfC\u00f3mo los canales de pago en Lightning Network permiten a los usuarios pagarse entre s\u00ed?", - "text": "Lightning Network consta de miles de canales de pago bipartitos.\n\nPuede pensar en un canal Lightning como abrir una pesta\u00f1a en su bar local. En lugar de sacar su billetera y pagar cada vez que pide una bebida, tiene sentido ahorrar tiempo, energ\u00eda y tarifas contabilizando todas sus bebidas al final de la noche y realizando la liquidaci\u00f3n final en un solo pago.\n\nLos rayos funcionan de manera similar. Cada vez que se realiza un pago de la persona A a la persona B, los bitcoins se env\u00edan de un lado al otro del canal. Dos usuarios pueden pagarse entre s\u00ed tantas veces como quieran, casi al instante y pr\u00e1cticamente sin cargos.\n", - "title": "\u00bfC\u00f3mo funciona el rayo?", - "type": "Texto" - }, - { - "answers": [ - "Utilizando una red de intermediarios para enrutar pagos entre usuarios", - "Utilizando la teletransportaci\u00f3n para transferir bitcoins instant\u00e1neamente de un usuario a otro", - "Mediante el uso de una simulaci\u00f3n de realidad virtual para simular la transferencia de bitcoin entre usuarios" - ], - "feedback": [ - "\u00a1Correcto! \u00a1Esto es como entregar un paquete de una persona a otra pas\u00e1ndolo entre una serie de carteros amigables! Felicitaciones", - "\u00a1Ja, no, esto no es ciencia ficci\u00f3n de Star Trek, sino ingenier\u00eda criptogr\u00e1fica del mundo real! Intentar otra vez", - "\u00bfPuedo interesarte por una simulaci\u00f3n de una simulaci\u00f3n? Bromas aparte, esto no es todo. \u00a1Intentar otra vez!" - ], - "id": "enrutamiento", - "question": "\u00bfC\u00f3mo permite Lightning Network que los usuarios se paguen entre s\u00ed si no est\u00e1n conectados directamente a trav\u00e9s de un canal de pago?", - "text": "Quiz\u00e1s est\u00e9s pensando que montar un canal de pago con cientos de comercios podr\u00eda resultar tedioso, pero no. La belleza de Lightning Network es que es una red de canales unidos.\n\nDigamos que Bob convenci\u00f3 a su amiga Carol para que tambi\u00e9n se uniera a Lightning Network. Alice tiene un canal con Bob y Bob tiene un canal con Carol. Luego, Alice y Carol pueden pagarse mutuamente \"enrutando\" a trav\u00e9s de Bob.\n\nAlgunos trucos criptogr\u00e1ficos bastante inteligentes garantizan que Bob no pueda robar el dinero mientras pasa a trav\u00e9s de \u00e9l.\n\nCuando realiza un pago en Lightning Network, su nodo busca una ruta de canales entre usted y su destino. Esto es lo que se conoce como enrutamiento. Por supuesto, todo esto lo hacen autom\u00e1ticamente los nodos Lightning involucrados, lo que permite que suceda en un abrir y cerrar de ojos.\n", - "title": "Enrutamiento", - "type": "Texto" - } - ], - "meta": { - "id": "Rayo: \u00bfQu\u00e9 resuelve?", - "title": "Rayo: \u00bfQu\u00e9 soluciona?" - } -} \ No newline at end of file diff --git a/chapter-401-lightning-network/401.01-lesson-bitcoin-drawbacks.json b/chapter-401-lightning-network/401.01-lesson-bitcoin-drawbacks.json index c26984b..06abce9 100644 --- a/chapter-401-lightning-network/401.01-lesson-bitcoin-drawbacks.json +++ b/chapter-401-lightning-network/401.01-lesson-bitcoin-drawbacks.json @@ -1,17 +1,22 @@ { - "answers": [ - "It takes too long to confirm transactions", - "It is difficult to use", - "It is not a trusted intermediary" - ], - "feedback": [ - "Correct! Great job! You may be pleased to hear that solutions have been deployed to improve the settlement time of Bitcoin payments to a few seconds. ", - "Wrong! But you are forgiven, Bitcoin is actually very easy to use. Try again", - "Wrong! But don't worry, Bitcoin actually allows anyone to send value without a trusted intermediary. Try again!" - ], - "id": "bitcoinDrawbacks", - "question": "What is a drawback of Bitcoin's design", - "text": "Bitcoin, the world's most widely used and valuable digital currency, allows anyone to send value without a trusted intermediary.\n\nThere are, however, some drawbacks to bitcoin's design which prioritizes security and decentralization at the cost of scalability.\n\nTransactions confirmed on the bitcoin blockchain take up to one hour before they are irreversible.\n\nMicropayments, or payments less than a few cents, are inconsistently confirmed, and fees render such transactions unviable on the network today.\n\nCurrently, Bitcoin's blockchain can process around 3 transactions per second. This is generally seen as an impediment for Bitcoin to become a currency that facilitates the everyday retail transactions of millions around the world.\n", - "title": "Drawbacks of Bitcoin", - "type": "Text" + "bitcoinDrawbacks": { + "title": "Drawbacks of Bitcoin", + "questions": { + "bitcoinDrawbacks": { + "answers": [ + "It takes too long to confirm transactions", + "It is difficult to use", + "It is not a trusted intermediary" + ], + "feedback": [ + "Correct! Great job! You may be pleased to hear that solutions have been deployed to improve the settlement time of Bitcoin payments to a few seconds. ", + "Wrong! But you are forgiven, Bitcoin is actually very easy to use. Try again", + "Wrong! But don't worry, Bitcoin actually allows anyone to send value without a trusted intermediary. Try again!" + ], + "question": "What is a drawback of Bitcoin's design", + "text": "Bitcoin, the world's most widely used and valuable digital currency, allows anyone to send value without a trusted intermediary.\n\nThere are, however, some drawbacks to bitcoin's design which prioritizes security and decentralization at the cost of scalability.\n\nTransactions confirmed on the bitcoin blockchain take up to one hour before they are irreversible.\n\nMicropayments, or payments less than a few cents, are inconsistently confirmed, and fees render such transactions unviable on the network today.\n\nCurrently, Bitcoin's blockchain can process around 3 transactions per second. This is generally seen as an impediment for Bitcoin to become a currency that facilitates the everyday retail transactions of millions around the world.\n", + "title": "What is a drawback of Bitcoin's design" + } + } + } } diff --git a/chapter-401-lightning-network/401.02-lesson-block-size-wars.json b/chapter-401-lightning-network/401.02-lesson-block-size-wars.json index 0f5105d..c737f58 100644 --- a/chapter-401-lightning-network/401.02-lesson-block-size-wars.json +++ b/chapter-401-lightning-network/401.02-lesson-block-size-wars.json @@ -1,17 +1,22 @@ { - "answers": [ - "Whether or not to increase the blocksize", - "Whether or not to censor certain transactions", - "Whether or not to change the consensus algorithm to proof of stake" - ], - "feedback": [ - "Correct. The users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network, showing that Bitcoin is controlled by users, not corporations", - "Not quite. Both sides were publicly in favor of preserving censorship-resistance, however companies in the Bitcoin ecosystem were willing to accept some centralization in exchange for quick wins in scalability. Try again", - "Haha, but no. While there are some dubious voices that demand the abolishment of proof of work in favor of proof of stake, this was never a debate in Bitcoin, and never will be. Try again." - ], - "id": "blocksizeWars", - "question": "What was the contention in the Blocksize Wars", - "text": "These drawbacks lead to a debate within the Bitcoin community about the best way to scale the Bitcoin network, often dubbed the Blocksize Wars.\n\nCompanies in the Bitcoin ecosystem argued that increasing the blocksize, which is the maximum size of a block of transactions on the blockchain, would allow more transactions to be processed per second, making the network more efficient and able to handle a larger volume of transactions.\n\nBitcoin users on the other side of the debate argued that increasing the blocksize would centralize the network, as it would require more expensive and powerful computers to process the larger blocks, and could potentially lead to Bitcoin becoming prone to censorship.\n\nThe users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network and demonstrated that Bitcoin is controlled by users, not corporations. This also meant that scaling Bitcoin would require a different enigneering solution than merely increasing the blocksize.\n", - "title": "The Blocksize Wars", - "type": "Text" + "blocksizeWars": { + "title": "The Blocksize Wars", + "questions": { + "blocksizeWars": { + "answers": [ + "Whether or not to increase the blocksize", + "Whether or not to censor certain transactions", + "Whether or not to change the consensus algorithm to proof of stake" + ], + "feedback": [ + "Correct. The users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network, showing that Bitcoin is controlled by users, not corporations", + "Not quite. Both sides were publicly in favor of preserving censorship-resistance, however companies in the Bitcoin ecosystem were willing to accept some centralization in exchange for quick wins in scalability. Try again", + "Haha, but no. While there are some dubious voices that demand the abolishment of proof of work in favor of proof of stake, this was never a debate in Bitcoin, and never will be. Try again." + ], + "question": "What was the contention in the Blocksize Wars", + "text": "These drawbacks lead to a debate within the Bitcoin community about the best way to scale the Bitcoin network, often dubbed the Blocksize Wars.\n\nCompanies in the Bitcoin ecosystem argued that increasing the blocksize, which is the maximum size of a block of transactions on the blockchain, would allow more transactions to be processed per second, making the network more efficient and able to handle a larger volume of transactions.\n\nBitcoin users on the other side of the debate argued that increasing the blocksize would centralize the network, as it would require more expensive and powerful computers to process the larger blocks, and could potentially lead to Bitcoin becoming prone to censorship.\n\nThe users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network and demonstrated that Bitcoin is controlled by users, not corporations. This also meant that scaling Bitcoin would require a different enigneering solution than merely increasing the blocksize.\n", + "title": "What was the contention in the Blocksize Wars" + } + } + } } diff --git a/chapter-401-lightning-network/401.03-lesson-lightning-network.json b/chapter-401-lightning-network/401.03-lesson-lightning-network.json index 3aea440..5558256 100644 --- a/chapter-401-lightning-network/401.03-lesson-lightning-network.json +++ b/chapter-401-lightning-network/401.03-lesson-lightning-network.json @@ -1,17 +1,22 @@ { - "answers": [ - "It allows users to make small, near instant payments at low cost", - "It helps users preserve the decentralization of the Bitcoin network", - "It ensures that every transaction is added to the Bitcoin blockchain" - ], - "feedback": [ - "Correct! The Lightning Network allows users to make small, near instant payments at low cost, and it eliminates the need for every transaction to be added to the Bitcoin blockchain. Congrats! As a fun fact, the Lightning Network has helped increase the adoption of Bitcoin by allowing it to process more transactions per second and handle higher volumes of transactions", - "Incorrect! The Lightning Network is actually a scaling solution built on top of the Bitcoin protocol. Try again", - "Incorrect! The Lightning Network actually eliminates the need for every transaction to be added to the Bitcoin blockchain, as it allows for smaller payments to be made off-chain." - ], - "id": "lightningNetwork", - "question": "What does the Lightning Network do", - "text": "While users prevailed and preserved the decentralization of the Bitcoin network, a solution to scale Bitcoin proposed by researchers Tadge Dryja and Joseph Poon, called the Lightning Network, started to gain traction and was launched in 2017.\n\nThe Lightning Network, often referred to as just Lightning or LN, is a scaling solution built on top of the Bitcoin protocol. It facilitates smaller, near instant payments between users at very low cost and eliminates the need for every transaction to be added to the Bitcoin blockchain whilst ensuring that the value being transacted abides by the rules of the Bitcoin network.\n", - "title": "The Lightning Network", - "type": "Text" + "lightningNetwork": { + "title": "The Lightning Network", + "questions": { + "lightningNetwork": { + "answers": [ + "It allows users to make small, near instant payments at low cost", + "It helps users preserve the decentralization of the Bitcoin network", + "It ensures that every transaction is added to the Bitcoin blockchain" + ], + "feedback": [ + "Correct! The Lightning Network allows users to make small, near instant payments at low cost, and it eliminates the need for every transaction to be added to the Bitcoin blockchain. Congrats! As a fun fact, the Lightning Network has helped increase the adoption of Bitcoin by allowing it to process more transactions per second and handle higher volumes of transactions", + "Incorrect! The Lightning Network is actually a scaling solution built on top of the Bitcoin protocol. Try again", + "Incorrect! The Lightning Network actually eliminates the need for every transaction to be added to the Bitcoin blockchain, as it allows for smaller payments to be made off-chain." + ], + "question": "What does the Lightning Network do", + "text": "While users prevailed and preserved the decentralization of the Bitcoin network, a solution to scale Bitcoin proposed by researchers Tadge Dryja and Joseph Poon, called the Lightning Network, started to gain traction and was launched in 2017.\n\nThe Lightning Network, often referred to as just Lightning or LN, is a scaling solution built on top of the Bitcoin protocol. It facilitates smaller, near instant payments between users at very low cost and eliminates the need for every transaction to be added to the Bitcoin blockchain whilst ensuring that the value being transacted abides by the rules of the Bitcoin network.\n", + "title": "What does the Lightning Network do" + } + } + } } diff --git a/chapter-401-lightning-network/401.04-lesson-instant-payments.json b/chapter-401-lightning-network/401.04-lesson-instant-payments.json index 7b3df91..10e6808 100644 --- a/chapter-401-lightning-network/401.04-lesson-instant-payments.json +++ b/chapter-401-lightning-network/401.04-lesson-instant-payments.json @@ -1,17 +1,22 @@ { - "answers": [ - "A matter of seconds", - "10 minutes", - "1 hour" - ], - "feedback": [ - "Correct! This makes the Lightning Network a great option for situations where you need to make a payment immediately, such as retail transactions or peer-to-peer payments", - "Incorrect! On the Bitcoin network, transactions are grouped into blocks that are added to the blockchain about every 10 minutes. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure. Try again", - "Incorrect! On the Bitcoin network, payments are considered secure after they have been confirmed by six blocks, or about an hour. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure." - ], - "id": "instantPayments", - "question": "How long does it take for a payment to be considered secure on the Lightning Network", - "text": "In the Bitcoin network, transactions are grouped together in blocks, and new blocks are added to the blockchain about every 10 minutes. When a payment is made using Bitcoin, it is considered secure after it has been confirmed by six blocks, or about an hour.\n\nOn the Lightning Network, payments do not have to wait for block confirmations to be considered secure. Instead, they are instant and completed all at once in a matter of few seconds.\n\nThis makes it possible to use the Lightning Network for retail transactions, peer-to-peer payments, or any other situation where you need to make a payment immediately.\n", - "title": "Instant Payments", - "type": "Text" + "instantPayments": { + "title": "Instant Payments", + "questions": { + "instantPayments": { + "answers": [ + "A matter of seconds", + "10 minutes", + "1 hour" + ], + "feedback": [ + "Correct! This makes the Lightning Network a great option for situations where you need to make a payment immediately, such as retail transactions or peer-to-peer payments", + "Incorrect! On the Bitcoin network, transactions are grouped into blocks that are added to the blockchain about every 10 minutes. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure. Try again", + "Incorrect! On the Bitcoin network, payments are considered secure after they have been confirmed by six blocks, or about an hour. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure." + ], + "question": "How long does it take for a payment to be considered secure on the Lightning Network", + "text": "In the Bitcoin network, transactions are grouped together in blocks, and new blocks are added to the blockchain about every 10 minutes. When a payment is made using Bitcoin, it is considered secure after it has been confirmed by six blocks, or about an hour.\n\nOn the Lightning Network, payments do not have to wait for block confirmations to be considered secure. Instead, they are instant and completed all at once in a matter of few seconds.\n\nThis makes it possible to use the Lightning Network for retail transactions, peer-to-peer payments, or any other situation where you need to make a payment immediately.\n", + "title": "How long does it take for a payment to be considered secure on the Lightning Network" + } + } + } } diff --git a/chapter-401-lightning-network/401.05-lesson-micro-payments.json b/chapter-401-lightning-network/401.05-lesson-micro-payments.json index 07f9161..bdfdd69 100644 --- a/chapter-401-lightning-network/401.05-lesson-micro-payments.json +++ b/chapter-401-lightning-network/401.05-lesson-micro-payments.json @@ -1,17 +1,22 @@ { - "answers": [ - "A payment for a small amount of money, often less than a dollar", - "A payment that requires a minimum amount and fixed fee", - "A payment made using the Lightning Network" - ], - "feedback": [ - "Exactly! These types of payments can be difficult to make using traditional financial systems or the Bitcoin network, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical", - "Nope**.** While traditional financial systems may require a minimum amount and fixed fee for payments, the Lightning Network allows for the possibility of making very small payments without these limitations", - "Not quite! While the Lightning Network does allow for the possibility of making micropayments, a micropayment is not defined as a payment made using the Lightning Network. Try again!" - ], - "id": "micropayments", - "question": "What is a micropayment", - "text": "Micropayments refer to very small financial transactions, often for amounts less than a dollar. These types of payments can be difficult to make using traditional financial systems, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical.\n\nThe Lightning Network allows for the possibility of making micropayments using Bitcoin. It enables users to send very small amounts of Bitcoin, down to 1 sat, without the risk of losing control of their funds to a third party (called \"custodial risk\"). \n\nIn contrast, the Bitcoin blockchain currently has minimum transaction amounts and fees that make micropayments impractical. The Lightning Network allows for minimal payments denominated in Bitcoin, using actual Bitcoin transactions. This opens up the possibility of creating new markets and making small payments more practical.\n", - "title": "Micropayments", - "type": "Text" + "micropayments": { + "title": "Micropayments", + "questions": { + "micropayments": { + "answers": [ + "A payment for a small amount of money, often less than a dollar", + "A payment that requires a minimum amount and fixed fee", + "A payment made using the Lightning Network" + ], + "feedback": [ + "Exactly! These types of payments can be difficult to make using traditional financial systems or the Bitcoin network, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical", + "Nope**.** While traditional financial systems may require a minimum amount and fixed fee for payments, the Lightning Network allows for the possibility of making very small payments without these limitations", + "Not quite! While the Lightning Network does allow for the possibility of making micropayments, a micropayment is not defined as a payment made using the Lightning Network. Try again!" + ], + "question": "What is a micropayment", + "text": "Micropayments refer to very small financial transactions, often for amounts less than a dollar. These types of payments can be difficult to make using traditional financial systems, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical.\n\nThe Lightning Network allows for the possibility of making micropayments using Bitcoin. It enables users to send very small amounts of Bitcoin, down to 1 sat, without the risk of losing control of their funds to a third party (called \"custodial risk\"). \n\nIn contrast, the Bitcoin blockchain currently has minimum transaction amounts and fees that make micropayments impractical. The Lightning Network allows for minimal payments denominated in Bitcoin, using actual Bitcoin transactions. This opens up the possibility of creating new markets and making small payments more practical.\n", + "title": "What is a micropayment" + } + } + } } diff --git a/chapter-401-lightning-network/401.06-lesson-scalability.json b/chapter-401-lightning-network/401.06-lesson-scalability.json index 1d76e12..7620006 100644 --- a/chapter-401-lightning-network/401.06-lesson-scalability.json +++ b/chapter-401-lightning-network/401.06-lesson-scalability.json @@ -1,17 +1,22 @@ { - "answers": [ - "To meet the demand for retail and automated payments", - "To make Bitcoin more attractive to investors", - "To get the required licences for interoperability with financial institutions" - ], - "feedback": [ - "That's right. The Lightning Network helps the Bitcoin network achieve scalability by allowing users to conduct nearly unlimited transactions off-chain on a second layer", - "That's not it! While improving the attractiveness of Bitcoin to investors could be a benefit of improving scalability, it is not the main reason why scalability is important for the Bitcoin network", - "Try again! **** Obtaining required licenses for interoperability with financial institutions may be a goal for some organizations working with Bitcoin, but it is not directly related to the concept of scalability." - ], - "id": "scalability", - "question": "Why is scalability important for the Bitcoin network", - "text": "Scalability refers to the ability of a system, such as a network or platform, to handle a large amount of usage or traffic without experiencing issues or slowdowns.\n\nScalability is important for Bitcoin because the network will need to be able to support a much higher volume of transactions in order to meet the demand of retail and automated payments.\n\nThe Lightning Network allows users to conduct nearly unlimited transactions between each other outside of the Bitcoin blockchain, or off-chain.\n\nThis means that transactions can be conducted without the need for each one to be recorded on the blockchain, which helps to reduce the load on the network and allows it to handle more transactions.\n", - "title": "Scalability", - "type": "Text" + "scalability": { + "title": "Scalability", + "questions": { + "scalability": { + "answers": [ + "To meet the demand for retail and automated payments", + "To make Bitcoin more attractive to investors", + "To get the required licences for interoperability with financial institutions" + ], + "feedback": [ + "That's right. The Lightning Network helps the Bitcoin network achieve scalability by allowing users to conduct nearly unlimited transactions off-chain on a second layer", + "That's not it! While improving the attractiveness of Bitcoin to investors could be a benefit of improving scalability, it is not the main reason why scalability is important for the Bitcoin network", + "Try again! **** Obtaining required licenses for interoperability with financial institutions may be a goal for some organizations working with Bitcoin, but it is not directly related to the concept of scalability." + ], + "question": "Why is scalability important for the Bitcoin network", + "text": "Scalability refers to the ability of a system, such as a network or platform, to handle a large amount of usage or traffic without experiencing issues or slowdowns.\n\nScalability is important for Bitcoin because the network will need to be able to support a much higher volume of transactions in order to meet the demand of retail and automated payments.\n\nThe Lightning Network allows users to conduct nearly unlimited transactions between each other outside of the Bitcoin blockchain, or off-chain.\n\nThis means that transactions can be conducted without the need for each one to be recorded on the blockchain, which helps to reduce the load on the network and allows it to handle more transactions.\n", + "title": "Why is scalability important for the Bitcoin network" + } + } + } } diff --git a/chapter-401-lightning-network/401.07-lesson-payment-channels.json b/chapter-401-lightning-network/401.07-lesson-payment-channels.json index b0253fd..1708b67 100644 --- a/chapter-401-lightning-network/401.07-lesson-payment-channels.json +++ b/chapter-401-lightning-network/401.07-lesson-payment-channels.json @@ -1,17 +1,22 @@ { - "answers": [ - "By pushing bitcoin from one side of the channel to the other each time a payment is made", - "By broadcasting every transaction immediately to the Bitcoin blockchain as soon as it happens", - "By paying a commission to a 3rd party payment provider" - ], - "feedback": [ - "That's right! Think of moving bitcoin in a Lightning channel like moving beads on an abacus. Each side keeps track of how much is on their side until it's time to settle on the Bitcoin blockchain. Good job", - "Quite the opposite! Payment channels in Lightning avoid broadcasting every transaction by aggregating them. Try again", - "Uhm no, actually payments in Lightning Network save the users fees for not settling every transaction on the blockchain. Try again!" - ], - "id": "paymentChannels", - "question": "How do payment channels in the Lightning Network allow users to pay each other", - "text": "The Lightning Network consists of thousands of two party payment channels.\n\nYou may think of a Lightning channel like opening a tab at your local bar. Instead of pulling out your wallet and paying each time you order a drink, it makes sense to save time, energy and fees by tallying all your drinks together at the end of the night and making the final settlement in one payment.\n\nLightning works similar. Each time a payment is made from person A to person B, bitcoin are pushed from one side of the channel to the other. Two users can pay one another back and forth as many times as they like, almost instantly and with close to no fees.\n", - "title": "How does Lighning work?", - "type": "Text" + "paymentChannels": { + "title": "How does Lighning work?", + "questions": { + "paymentChannels": { + "answers": [ + "By pushing bitcoin from one side of the channel to the other each time a payment is made", + "By broadcasting every transaction immediately to the Bitcoin blockchain as soon as it happens", + "By paying a commission to a 3rd party payment provider" + ], + "feedback": [ + "That's right! Think of moving bitcoin in a Lightning channel like moving beads on an abacus. Each side keeps track of how much is on their side until it's time to settle on the Bitcoin blockchain. Good job", + "Quite the opposite! Payment channels in Lightning avoid broadcasting every transaction by aggregating them. Try again", + "Uhm no, actually payments in Lightning Network save the users fees for not settling every transaction on the blockchain. Try again!" + ], + "question": "How do payment channels in the Lightning Network allow users to pay each other", + "text": "The Lightning Network consists of thousands of two party payment channels.\n\nYou may think of a Lightning channel like opening a tab at your local bar. Instead of pulling out your wallet and paying each time you order a drink, it makes sense to save time, energy and fees by tallying all your drinks together at the end of the night and making the final settlement in one payment.\n\nLightning works similar. Each time a payment is made from person A to person B, bitcoin are pushed from one side of the channel to the other. Two users can pay one another back and forth as many times as they like, almost instantly and with close to no fees.\n", + "title": "How do payment channels in the Lightning Network allow users to pay each other" + } + } + } } diff --git a/chapter-401-lightning-network/401.08-lesson-routing.json b/chapter-401-lightning-network/401.08-lesson-routing.json index 972bd0c..0265cc5 100644 --- a/chapter-401-lightning-network/401.08-lesson-routing.json +++ b/chapter-401-lightning-network/401.08-lesson-routing.json @@ -1,17 +1,22 @@ { - "answers": [ - "By using a network of intermediaries to route payments between users", - "By using teleportation to instantly transfer bitcoin from one user to another", - "By using a virtual reality simulation to simulate the transfer of bitcoin between users" - ], - "feedback": [ - "Correct! This is like delivering a package from one person to another by passing it along a series of friendly postmen! Congrats", - "Hah no, this isn't science-fiction from Star Trek, but real world cryptographic engineering! Try again", - "May I interest you for a simulation of a simulation? Jokes aside, this isn't it. Try again!" - ], - "id": "routing", - "question": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel", - "text": "You may be thinking that setting up a payment channel with hundreds of businesses could be tedious, but no. The beauty of the Lightning Network is that it is a network of channels stitched together.\n\nLet us say Bob convinced his friend Carol to also join the Lightning Network. Alice has a channel with Bob, and Bob has a channel with Carol. Alice and Carol can then pay each other by “routing” through Bob.\n\nSome pretty clever cryptographic tricks guarantee that Bob cannot steal the money while it’s passing through him.\n\nWhen you make a payment on the Lightning Network, your node searches for a path of channels between you and your destination. This is what’s referred to as routing. This is of course all done automatically by the involved Lightning nodes, enabling it to happen in the blink of an eye.\n", - "title": "Routing", - "type": "Text" + "routing": { + "title": "Routing", + "questions": { + "routing": { + "answers": [ + "By using a network of intermediaries to route payments between users", + "By using teleportation to instantly transfer bitcoin from one user to another", + "By using a virtual reality simulation to simulate the transfer of bitcoin between users" + ], + "feedback": [ + "Correct! This is like delivering a package from one person to another by passing it along a series of friendly postmen! Congrats", + "Hah no, this isn't science-fiction from Star Trek, but real world cryptographic engineering! Try again", + "May I interest you for a simulation of a simulation? Jokes aside, this isn't it. Try again!" + ], + "question": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel", + "text": "You may be thinking that setting up a payment channel with hundreds of businesses could be tedious, but no. The beauty of the Lightning Network is that it is a network of channels stitched together.\n\nLet us say Bob convinced his friend Carol to also join the Lightning Network. Alice has a channel with Bob, and Bob has a channel with Carol. Alice and Carol can then pay each other by “routing” through Bob.\n\nSome pretty clever cryptographic tricks guarantee that Bob cannot steal the money while it’s passing through him.\n\nWhen you make a payment on the Lightning Network, your node searches for a path of channels between you and your destination. This is what’s referred to as routing. This is of course all done automatically by the involved Lightning nodes, enabling it to happen in the blink of an eye.\n", + "title": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel" + } + } + } } diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json b/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json index ff0061d..98548e4 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json @@ -1,110 +1,134 @@ -{ - "content": [ - { - "answers": [ - "It has consistently gone up", - "It has consistently gone down", - "It has gone up and down randomly" - ], - "feedback": [ - "Well done! You seem to have a good grasp on the overall trend of bitcoin's exchange rate. Despite some fluctuations, it has consistently been on the rise. Keep up the good work", - "I'm sorry, that's not quite right. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been consistently downward. Try again", - "Sorry, that's incorrect. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been completely random. Keep trying!" - ], - "id": "itsaBubble", - "question": "How has the exchange rate of bitcoin trended over time", - "text": "Over the years, bitcoin has often been called a bubble by various people. While its price has had several significant declines that may have warranted this label, the overall trend for bitcoin has been consistently upward.\n\nCritics who have proclaimed the death of bitcoin after each market cycle have been proven wrong, as the nascent digital money has continued to thrive despite their predictions. As these critics run out of analogies to use, it has become clear that their accusations are unfounded.\n", +[ + { + "itsaBubble": { "title": "Is bitcoin a bubble?", - "type": "Text" - }, - { - "answers": [ - "Buyers and sellers reaching agreements in real-time", - "Government intervention", - "The phase of the moon" - ], - "feedback": [ - "You're correct! The primary factor influencing the volatility of bitcoin's price is actually the agreements reached in real-time between buyers and sellers", - "I'm sorry, that's not quite right. While government intervention can certainly affect the price of bitcoin, it is not the primary factor influencing its volatility", - "Sorry, that's incorrect. While the phase of the moon may have some strange effects on certain things, it does not play a significant role in the volatility of bitcoin's exchange rate. Keep trying!" - ], - "id": "itstooVolatile", - "question": "What is the primary factor influencing the volatility of bitcoin's exchange rate", - "text": "It is subjective to expect bitcoin to maintain a specific price range, as it is traded around the clock, every day of the year, across the world. There are no requirements for registration, bank holidays, circuit breakers, or bailouts in the bitcoin market, which operates as a truly free market.\n\nAny and all volatility in bitcoin's price is the result of buyers and sellers reaching agreements in real-time without interference from governments. As bitcoin continues its journey towards becoming a primary global store of value in the Information Age, it is unrealistic to assume that its progress would be linear.\n\nAs adoption of bitcoin increases, it becomes less risky and potential upside decreases, leading to a decrease in volatility.\n", + "questions": { + "itsaBubble": { + "answers": [ + "It has consistently gone up", + "It has consistently gone down", + "It has gone up and down randomly" + ], + "feedback": [ + "Well done! You seem to have a good grasp on the overall trend of bitcoin's exchange rate. Despite some fluctuations, it has consistently been on the rise. Keep up the good work", + "I'm sorry, that's not quite right. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been consistently downward. Try again", + "Sorry, that's incorrect. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been completely random. Keep trying!" + ], + "question": "How has the exchange rate of bitcoin trended over time", + "text": "Over the years, bitcoin has often been called a bubble by various people. While its price has had several significant declines that may have warranted this label, the overall trend for bitcoin has been consistently upward.\n\nCritics who have proclaimed the death of bitcoin after each market cycle have been proven wrong, as the nascent digital money has continued to thrive despite their predictions. As these critics run out of analogies to use, it has become clear that their accusations are unfounded.\n", + "title": "How has the exchange rate of bitcoin trended over time" + } + } + } + }, + { + "itstooVolatile": { "title": "It's too volatile!", - "type": "Text" - }, - { - "answers": [ - "The credibility of its monetary properties", - "Rarity", - "The color purple" - ], - "feedback": [ - "Spot on! According to Parker Lewis, the only thing that backs any money is the credibility of its monetary properties", - "That's not quite right. While rarity can certainly contribute to the value of money, it is not the only thing that backs it. Try again", - "That's incorrect. While the color purple may be a beautiful and regal choice for a currency, it does not actually play a role in backing money." - ], - "id": "itsnotBacked", - "question": "What is the only thing that backs any money, according to Parker Lewis", - "text": "The idea of backed money is contradictory, as the backing itself would then be considered money. Part of the value of money comes from its rarity. Bitcoin does not need to be backed by something else that is rare because it is inherently scarce.\n\nVerifiable and auditable through independent means, bitcoin is free of counterparty risk. There is no third party that must be trusted to keep and secure commodities or assets. If anything, it is possible that the future will be backed by bitcoin.\n\nAs Parker Lewis stated, \"Ultimately, bitcoin is backed by something, and it's the only thing that backs any money: the credibility of its monetary properties.\"\n", + "questions": { + "itstooVolatile": { + "answers": [ + "Buyers and sellers reaching agreements in real-time", + "Government intervention", + "The phase of the moon" + ], + "feedback": [ + "You're correct! The primary factor influencing the volatility of bitcoin's price is actually the agreements reached in real-time between buyers and sellers", + "I'm sorry, that's not quite right. While government intervention can certainly affect the price of bitcoin, it is not the primary factor influencing its volatility", + "Sorry, that's incorrect. While the phase of the moon may have some strange effects on certain things, it does not play a significant role in the volatility of bitcoin's exchange rate. Keep trying!" + ], + "question": "What is the primary factor influencing the volatility of bitcoin's exchange rate", + "text": "It is subjective to expect bitcoin to maintain a specific price range, as it is traded around the clock, every day of the year, across the world. There are no requirements for registration, bank holidays, circuit breakers, or bailouts in the bitcoin market, which operates as a truly free market.\n\nAny and all volatility in bitcoin's price is the result of buyers and sellers reaching agreements in real-time without interference from governments. As bitcoin continues its journey towards becoming a primary global store of value in the Information Age, it is unrealistic to assume that its progress would be linear.\n\nAs adoption of bitcoin increases, it becomes less risky and potential upside decreases, leading to a decrease in volatility.\n", + "title": "What is the primary factor influencing the volatility of bitcoin's exchange rate" + } + } + } + }, + { + "itsnotBacked": { "title": "Should money be backed by something?", - "type": "Text" - }, - { - "answers": [ - "No, it is not possible for bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", - "Yes, it is possible that bitcoin could become obsolete if a more secure or widely used digital monetary network is developed.", - "that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that" - ], - "feedback": [ - "bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", - "Well, you're not wrong about that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that", - "Uh oh, looks like you're playing it safe but not quite hitting the mark. While it's true that no one can predict the future, it's pretty clear that bitcoin has a solid grip on the digital monetary network game. Try again." - ], - "id": "willbecomeObsolete", - "question": "Is it possible that bitcoin becomes obsolete one day", - "text": "Bitcoin represents a unique discovery of absolute scarcity, similar to the discovery of fire, electricity, or the field of mathematics.\n\nIt is not logical or possible to compete with bitcoin in terms of scarcity, as there is no level of scarcity higher than absolute scarcity. Criticisms of bitcoin's perceived limitations or drawbacks assume that there are no trade-offs in terms of security and incentive design, or that bitcoin's current form does not already provide significant benefits to millions of users.\n\nAs a rapidly growing, unrestricted network with a 99.98% uptime over more than a decade, having processed trillions of dollars in value and secured by billions of dollars in hardware, it is unlikely that bitcoin will be displaced as the dominant digital monetary network at this point.\n\nAs Michael Saylor stated, \"There's never been an example of a $100B monster digital network that was vanquished once it got to that dominant position.\"\n", + "questions": { + "itsnotBacked": { + "answers": [ + "The credibility of its monetary properties", + "Rarity", + "The color purple" + ], + "feedback": [ + "Spot on! According to Parker Lewis, the only thing that backs any money is the credibility of its monetary properties", + "That's not quite right. While rarity can certainly contribute to the value of money, it is not the only thing that backs it. Try again", + "That's incorrect. While the color purple may be a beautiful and regal choice for a currency, it does not actually play a role in backing money." + ], + "question": "What is the only thing that backs any money, according to Parker Lewis", + "text": "The idea of backed money is contradictory, as the backing itself would then be considered money. Part of the value of money comes from its rarity. Bitcoin does not need to be backed by something else that is rare because it is inherently scarce.\n\nVerifiable and auditable through independent means, bitcoin is free of counterparty risk. There is no third party that must be trusted to keep and secure commodities or assets. If anything, it is possible that the future will be backed by bitcoin.\n\nAs Parker Lewis stated, \"Ultimately, bitcoin is backed by something, and it's the only thing that backs any money: the credibility of its monetary properties.\"\n", + "title": "What is the only thing that backs any money, according to Parker Lewis" + } + } + } + }, + { + "willbecomeObsolete": { "title": "Will bitcoin become obsolete one day?", - "type": "Text" - }, - { - "answers": [ - "It helps to even out the distribution of energy consumption around the world.", - "It increases the distribution of energy consumption around the world.", - "It decreases the distribution of energy consumption around the world." - ], - "feedback": [ - "You got it right. Did you know that bitcoin's fixed energy price helps to incentivize the use of renewable energy sources in areas where they may not have been economically viable before", - "Well, I see you're a fan of chaos and global energy inequality, but this answer is wrong", - "Looks like you're trying to save the world one energy imbalance at a time. This answer is clearly incorrect." - ], - "id": "toomuchEnergy", - "question": "How does bitcoin impact global energy consumption", - "text": "Bitcoin is a decentralized digital currency that is accessible to users around the world and is resistant to censorship due to its Proof of Work mechanism.\n\nWith an estimated four billion people currently living under authoritarianism, bitcoin provides a way for individuals to send, receive, save, and transport wealth. It is important to consider the amount of energy that a monetary network like this should consume and to carefully evaluate who is best equipped to make decisions about this.\n\nOne way to think about the impact of bitcoin on global energy consumption is to imagine a topographic map of the world, with local electricity costs represented by the peaks and troughs. Adding bitcoin to the mix is like pouring a glass of water over the map - it settles in the troughs, smoothing them out. This is because bitcoin is a global buyer of energy at a fixed price, which helps to even out the distribution of energy consumption around the world.\n", + "questions": { + "willbecomeObsolete": { + "answers": [ + "No, it is not possible for bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Yes, it is possible that bitcoin could become obsolete if a more secure or widely used digital monetary network is developed.", + "that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that" + ], + "feedback": [ + "bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Well, you're not wrong about that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that", + "Uh oh, looks like you're playing it safe but not quite hitting the mark. While it's true that no one can predict the future, it's pretty clear that bitcoin has a solid grip on the digital monetary network game. Try again." + ], + "question": "Is it possible that bitcoin becomes obsolete one day", + "text": "Bitcoin represents a unique discovery of absolute scarcity, similar to the discovery of fire, electricity, or the field of mathematics.\n\nIt is not logical or possible to compete with bitcoin in terms of scarcity, as there is no level of scarcity higher than absolute scarcity. Criticisms of bitcoin's perceived limitations or drawbacks assume that there are no trade-offs in terms of security and incentive design, or that bitcoin's current form does not already provide significant benefits to millions of users.\n\nAs a rapidly growing, unrestricted network with a 99.98% uptime over more than a decade, having processed trillions of dollars in value and secured by billions of dollars in hardware, it is unlikely that bitcoin will be displaced as the dominant digital monetary network at this point.\n\nAs Michael Saylor stated, \"There's never been an example of a $100B monster digital network that was vanquished once it got to that dominant position.\"\n", + "title": "Is it possible that bitcoin becomes obsolete one day" + } + } + } + }, + { + "toomuchEnergy": { "title": "Is bitcoin's energy consumption excessive?", - "type": "Text" - }, - { - "answers": [ - "By using it to power onsite equipment that generates hashes to produce bitcoin", - "By selling it on the bitcoin market", - "By creating a new form of renewable energy" - ], - "feedback": [ - "Congratulations! You've correctly identified the use of excess energy in bitcoin mining. Did you know that this process can be done in any location, even in areas where there is no local demand for the energy being generated", - "I see you're a fan of making money through unconventional means. Too bad that's not what this lesson is about. Try again", - "It looks like you're trying to save the world one renewable energy source at a time. While that's admirable, unfortunately that's not the right answer." - ], - "id": "strandedEnergy", - "question": "How can excess energy be used through bitcoin mining", - "text": "Exactly**.** Bitcoin mining provides a portable solution for utilizing energy assets in regions where there is no local demand or means of transportation. By using onsite equipment to generate hashes, it is possible to produce bitcoin, which can then be held for future value appreciation or sold on the highly liquid and globally accessible bitcoin market.\n", + "questions": { + "toomuchEnergy": { + "answers": [ + "It helps to even out the distribution of energy consumption around the world.", + "It increases the distribution of energy consumption around the world.", + "It decreases the distribution of energy consumption around the world." + ], + "feedback": [ + "You got it right. Did you know that bitcoin's fixed energy price helps to incentivize the use of renewable energy sources in areas where they may not have been economically viable before", + "Well, I see you're a fan of chaos and global energy inequality, but this answer is wrong", + "Looks like you're trying to save the world one energy imbalance at a time. This answer is clearly incorrect." + ], + "question": "How does bitcoin impact global energy consumption", + "text": "Bitcoin is a decentralized digital currency that is accessible to users around the world and is resistant to censorship due to its Proof of Work mechanism.\n\nWith an estimated four billion people currently living under authoritarianism, bitcoin provides a way for individuals to send, receive, save, and transport wealth. It is important to consider the amount of energy that a monetary network like this should consume and to carefully evaluate who is best equipped to make decisions about this.\n\nOne way to think about the impact of bitcoin on global energy consumption is to imagine a topographic map of the world, with local electricity costs represented by the peaks and troughs. Adding bitcoin to the mix is like pouring a glass of water over the map - it settles in the troughs, smoothing them out. This is because bitcoin is a global buyer of energy at a fixed price, which helps to even out the distribution of energy consumption around the world.\n", + "title": "How does bitcoin impact global energy consumption" + } + } + } + }, + { + "strandedEnergy": { "title": "Wait, are you telling me that bitcoin can be used to tap into stranded energy?", - "type": "Text" + "questions": { + "strandedEnergy": { + "answers": [ + "By using it to power onsite equipment that generates hashes to produce bitcoin", + "By selling it on the bitcoin market", + "By creating a new form of renewable energy" + ], + "feedback": [ + "Congratulations! You've correctly identified the use of excess energy in bitcoin mining. Did you know that this process can be done in any location, even in areas where there is no local demand for the energy being generated", + "I see you're a fan of making money through unconventional means. Too bad that's not what this lesson is about. Try again", + "It looks like you're trying to save the world one renewable energy source at a time. While that's admirable, unfortunately that's not the right answer." + ], + "question": "How can excess energy be used through bitcoin mining", + "text": "Exactly**.** Bitcoin mining provides a portable solution for utilizing energy assets in regions where there is no local demand or means of transportation. By using onsite equipment to generate hashes, it is possible to produce bitcoin, which can then be held for future value appreciation or sold on the highly liquid and globally accessible bitcoin market.\n", + "title": "How can excess energy be used through bitcoin mining" + } + } } - ], - "meta": { - "id": "BitcoinCriticisms&FallaciesI", - "title": "Bitcoin Criticisms & Fallacies I" } -} +] diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501-es-combined.json b/chapter-501-bitcoin-criticisms-fallacies-i/501-es-combined.json deleted file mode 100644 index f9c79aa..0000000 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501-es-combined.json +++ /dev/null @@ -1,110 +0,0 @@ -{ - "content": [ - { - "answers": [ - "Ha aumentado constantemente", - "Ha bajado constantemente", - "Ha subido y bajado aleatoriamente" - ], - "feedback": [ - "\u00a1Bien hecho! Parece tener una buena comprensi\u00f3n de la tendencia general del tipo de cambio de bitcoin. A pesar de algunas fluctuaciones, ha ido aumentando constantemente. Sigan con el buen trabajo", - "Lo siento, eso no est\u00e1 del todo bien. Si bien el tipo de cambio de bitcoin ciertamente ha tenido altibajos, la tendencia general no ha sido consistentemente a la baja. Intentar otra vez", - "Lo siento, eso es incorrecto. Si bien el tipo de cambio de bitcoin ciertamente ha tenido altibajos, la tendencia general no ha sido completamente aleatoria. \u00a1Sigue intent\u00e1ndolo!" - ], - "id": "esunaburbuja", - "question": "\u00bfC\u00f3mo ha evolucionado el tipo de cambio de bitcoin a lo largo del tiempo?", - "text": "A lo largo de los a\u00f1os, varias personas han llamado a Bitcoin una burbuja. Si bien su precio ha tenido varias ca\u00eddas significativas que pueden haber justificado esta etiqueta, la tendencia general de bitcoin ha sido consistentemente alcista.\n\nSe ha demostrado que los cr\u00edticos que han proclamado la muerte de bitcoin despu\u00e9s de cada ciclo de mercado estaban equivocados, ya que el naciente dinero digital ha seguido prosperando a pesar de sus predicciones. A medida que a estos cr\u00edticos se les acaban las analog\u00edas que utilizar, ha quedado claro que sus acusaciones son infundadas.\n", - "title": "\u00bfBitcoin es una burbuja?", - "type": "Texto" - }, - { - "answers": [ - "Compradores y vendedores llegando a acuerdos en tiempo real", - "Intervenci\u00f3n gubernamental", - "La fase de la luna." - ], - "feedback": [ - "\u00a1Est\u00e1s en lo correcto! El principal factor que influye en la volatilidad del precio de bitcoin son en realidad los acuerdos alcanzados en tiempo real entre compradores y vendedores.", - "Lo siento, eso no est\u00e1 del todo bien. Si bien la intervenci\u00f3n gubernamental ciertamente puede afectar el precio de bitcoin, no es el factor principal que influye en su volatilidad.", - "Lo siento, eso es incorrecto. Si bien la fase de la luna puede tener algunos efectos extra\u00f1os en ciertas cosas, no juega un papel significativo en la volatilidad del tipo de cambio de bitcoin. \u00a1Sigue intent\u00e1ndolo!" - ], - "id": "es demasiado vol\u00e1til", - "question": "\u00bfCu\u00e1l es el principal factor que influye en la volatilidad del tipo de cambio de bitcoin?", - "text": "Es subjetivo esperar que Bitcoin mantenga un rango de precios espec\u00edfico, ya que se comercializa las 24 horas del d\u00eda, todos los d\u00edas del a\u00f1o, en todo el mundo. No existen requisitos de registro, d\u00edas festivos, disyuntores ni rescates en el mercado de bitcoin, que opera como un mercado verdaderamente libre.\n\nToda la volatilidad en el precio de bitcoin es el resultado de que compradores y vendedores llegan a acuerdos en tiempo real sin interferencia de los gobiernos. A medida que bitcoin contin\u00faa su camino hacia convertirse en una importante reserva global de valor en la era de la informaci\u00f3n, no es realista suponer que su progreso sea lineal.\n\nA medida que aumenta la adopci\u00f3n de bitcoin, se vuelve menos riesgoso y las posibles ventajas disminuyen, lo que lleva a una disminuci\u00f3n de la volatilidad.\n", - "title": "\u00a1Es demasiado vol\u00e1til!", - "type": "Texto" - }, - { - "answers": [ - "La credibilidad de sus propiedades monetarias.", - "Rareza", - "El color morado" - ], - "feedback": [ - "\u00a1Correcto! Seg\u00fan Parker Lewis, lo \u00fanico que respalda cualquier dinero es la credibilidad de sus propiedades monetarias.", - "Eso no es del todo bien. Si bien la rareza ciertamente puede contribuir al valor del dinero, no es lo \u00fanico que lo respalda. Intentar otra vez", - "Eso es incorrecto. Si bien el color p\u00farpura puede ser una opci\u00f3n hermosa y majestuosa para una moneda, en realidad no desempe\u00f1a un papel en el respaldo del dinero." - ], - "id": "no est\u00e1 respaldado", - "question": "\u00bfQu\u00e9 es lo \u00fanico que respalda el dinero, seg\u00fan Parker Lewis?", - "text": "La idea de dinero respaldado es contradictoria, ya que el respaldo en s\u00ed mismo se considerar\u00eda dinero. Parte del valor del dinero proviene de su rareza. Bitcoin no necesita estar respaldado por algo m\u00e1s que sea raro porque es inherentemente escaso.\n\nVerificable y auditable a trav\u00e9s de medios independientes, bitcoin est\u00e1 libre de riesgo de contraparte. No existe ning\u00fan tercero en quien se deba confiar para mantener y proteger los productos o activos. En todo caso, es posible que el futuro est\u00e9 respaldado por bitcoin.\n\nComo afirm\u00f3 Parker Lewis: \"En \u00faltima instancia, bitcoin est\u00e1 respaldado por algo, y es lo \u00fanico que respalda cualquier dinero: la credibilidad de sus propiedades monetarias\".\n", - "title": "\u00bfDeber\u00eda el dinero estar respaldado por algo?", - "type": "Texto" - }, - { - "answers": [ - "No, no es posible que bitcoin quede obsoleto porque representa escasez absoluta y tiene una posici\u00f3n dominante en el mercado.", - "S\u00ed, es posible que bitcoin quede obsoleto si se desarrolla una red monetaria digital m\u00e1s segura o ampliamente utilizada.", - "eso, pero seamos realistas: \u00bfqui\u00e9n va a inventar una moneda digital que sea m\u00e1s escasa que la escasez absoluta? Eso es como intentar inventar un c\u00edrculo que sea m\u00e1s redondo que redondo. Buena suerte con eso" - ], - "feedback": [ - "Bitcoin se vuelva obsoleto porque representa una escasez absoluta y tiene una posici\u00f3n dominante en el mercado.", - "Bueno, no te equivocas en eso, pero seamos realistas: \u00bfqui\u00e9n va a inventar una moneda digital que sea m\u00e1s escasa que la escasez absoluta? Eso es como intentar inventar un c\u00edrculo que sea m\u00e1s redondo que redondo. Buena suerte con eso", - "Uh oh, parece que est\u00e1s yendo a lo seguro pero no has dado en el blanco. Si bien es cierto que nadie puede predecir el futuro, est\u00e1 bastante claro que bitcoin tiene un control s\u00f3lido en el juego de las redes monetarias digitales. Intentar otra vez." - ], - "id": "se volver\u00e1 obsoleto", - "question": "\u00bfEs posible que bitcoin se quede obsoleto alg\u00fan d\u00eda?", - "text": "Bitcoin representa un descubrimiento \u00fanico de escasez absoluta, similar al descubrimiento del fuego, la electricidad o el campo de las matem\u00e1ticas.\n\nNo es l\u00f3gico ni posible competir con bitcoin en t\u00e9rminos de escasez, ya que no existe un nivel de escasez superior a la escasez absoluta. Las cr\u00edticas a las limitaciones o inconvenientes percibidos de Bitcoin suponen que no hay compensaciones en t\u00e9rminos de seguridad y dise\u00f1o de incentivos, o que la forma actual de Bitcoin no proporciona beneficios significativos a millones de usuarios.\n\nComo red sin restricciones y de r\u00e1pido crecimiento con un tiempo de actividad del 99,98% durante m\u00e1s de una d\u00e9cada, habiendo procesado billones de d\u00f3lares en valor y asegurada por miles de millones de d\u00f3lares en hardware, es poco probable que Bitcoin sea desplazado como la red monetaria digital dominante en este momento. punto.\n\nComo afirm\u00f3 Michael Saylor: \"Nunca ha habido un ejemplo de una red digital monstruosa de 100.000 millones de d\u00f3lares que haya sido vencida una vez que alcanz\u00f3 esa posici\u00f3n dominante\".\n", - "title": "\u00bfBitcoin quedar\u00e1 obsoleto alg\u00fan d\u00eda?", - "type": "Texto" - }, - { - "answers": [ - "Ayuda a nivelar la distribuci\u00f3n del consumo de energ\u00eda en todo el mundo.", - "Aumenta la distribuci\u00f3n del consumo de energ\u00eda en todo el mundo.", - "Disminuye la distribuci\u00f3n del consumo de energ\u00eda en todo el mundo." - ], - "feedback": [ - "Lo hiciste bien. \u00bfSab\u00edas que el precio fijo de la energ\u00eda de Bitcoin ayuda a incentivar el uso de fuentes de energ\u00eda renovables en \u00e1reas donde antes no eran econ\u00f3micamente viables?", - "Bueno, veo que eres fan\u00e1tico del caos y la desigualdad energ\u00e9tica global, pero esta respuesta es incorrecta.", - "Parece que est\u00e1s intentando salvar al mundo con un desequilibrio energ\u00e9tico a la vez. Esta respuesta es claramente incorrecta." - ], - "id": "demasiada energ\u00eda", - "question": "\u00bfC\u00f3mo impacta bitcoin en el consumo global de energ\u00eda?", - "text": "Bitcoin es una moneda digital descentralizada a la que pueden acceder usuarios de todo el mundo y resistente a la censura gracias a su mecanismo de prueba de trabajo.\n\nCon aproximadamente cuatro mil millones de personas que viven actualmente bajo el autoritarismo, bitcoin proporciona una forma para que las personas env\u00eden, reciban, ahorren y transporten riqueza. Es importante considerar la cantidad de energ\u00eda que deber\u00eda consumir una red monetaria como esta y evaluar cuidadosamente qui\u00e9n est\u00e1 mejor equipado para tomar decisiones al respecto.\n\nUna forma de pensar en el impacto de bitcoin en el consumo global de energ\u00eda es imaginar un mapa topogr\u00e1fico del mundo, con los costos locales de electricidad representados por los picos y los valles. Agregar bitcoin a la mezcla es como verter un vaso de agua sobre el mapa: se asienta en los canales, alis\u00e1ndolos. Esto se debe a que bitcoin es un comprador global de energ\u00eda a un precio fijo, lo que ayuda a igualar la distribuci\u00f3n del consumo de energ\u00eda en todo el mundo.\n", - "title": "\u00bfEs excesivo el consumo de energ\u00eda de bitcoin?", - "type": "Texto" - }, - { - "answers": [ - "Utiliz\u00e1ndolo para alimentar equipos en el sitio que generan hashes para producir bitcoins.", - "Vendi\u00e9ndolo en el mercado de bitcoins.", - "Creando una nueva forma de energ\u00eda renovable" - ], - "feedback": [ - "\u00a1Felicidades! Has identificado correctamente el uso del exceso de energ\u00eda en la miner\u00eda de bitcoins. \u00bfSab\u00edas que este proceso se puede realizar en cualquier lugar, incluso en \u00e1reas donde no existe demanda local para la energ\u00eda que se genera?", - "Veo que eres fan\u00e1tico de ganar dinero por medios no convencionales. L\u00e1stima que esta lecci\u00f3n no se trata de eso. Intentar otra vez", - "Parece que est\u00e1s intentando salvar al mundo una fuente de energ\u00eda renovable a la vez. Si bien esto es admirable, lamentablemente no es la respuesta correcta." - ], - "id": "varadoEnerg\u00eda", - "question": "\u00bfC\u00f3mo se puede utilizar el exceso de energ\u00eda mediante la miner\u00eda de bitcoins?", - "text": "Exactamente**.** La miner\u00eda de Bitcoin proporciona una soluci\u00f3n port\u00e1til para utilizar activos energ\u00e9ticos en regiones donde no hay demanda local ni medios de transporte. Al utilizar equipos in situ para generar hashes, es posible producir bitcoins, que luego pueden conservarse para una apreciaci\u00f3n futura de su valor o venderse en el mercado de bitcoins, de gran liquidez y acceso global.\n", - "title": "Espera, \u00bfme est\u00e1s diciendo que bitcoin se puede utilizar para aprovechar la energ\u00eda estancada?", - "type": "Texto" - } - ], - "meta": { - "id": "BitcoinCr\u00edticas y falaciasI", - "title": "Cr\u00edticas y falacias de Bitcoin I" - } -} \ No newline at end of file diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.01-lesson-its-a-bubble.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.01-lesson-its-a-bubble.json index 168c760..cc73662 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501.01-lesson-its-a-bubble.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.01-lesson-its-a-bubble.json @@ -1,17 +1,22 @@ { - "answers": [ - "It has consistently gone up", - "It has consistently gone down", - "It has gone up and down randomly" - ], - "feedback": [ - "Well done! You seem to have a good grasp on the overall trend of bitcoin's exchange rate. Despite some fluctuations, it has consistently been on the rise. Keep up the good work", - "I'm sorry, that's not quite right. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been consistently downward. Try again", - "Sorry, that's incorrect. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been completely random. Keep trying!" - ], - "id": "itsaBubble", - "question": "How has the exchange rate of bitcoin trended over time", - "text": "Over the years, bitcoin has often been called a bubble by various people. While its price has had several significant declines that may have warranted this label, the overall trend for bitcoin has been consistently upward.\n\nCritics who have proclaimed the death of bitcoin after each market cycle have been proven wrong, as the nascent digital money has continued to thrive despite their predictions. As these critics run out of analogies to use, it has become clear that their accusations are unfounded.\n", - "title": "Is bitcoin a bubble?", - "type": "Text" + "itsaBubble": { + "title": "Is bitcoin a bubble?", + "questions": { + "itsaBubble": { + "answers": [ + "It has consistently gone up", + "It has consistently gone down", + "It has gone up and down randomly" + ], + "feedback": [ + "Well done! You seem to have a good grasp on the overall trend of bitcoin's exchange rate. Despite some fluctuations, it has consistently been on the rise. Keep up the good work", + "I'm sorry, that's not quite right. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been consistently downward. Try again", + "Sorry, that's incorrect. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been completely random. Keep trying!" + ], + "question": "How has the exchange rate of bitcoin trended over time", + "text": "Over the years, bitcoin has often been called a bubble by various people. While its price has had several significant declines that may have warranted this label, the overall trend for bitcoin has been consistently upward.\n\nCritics who have proclaimed the death of bitcoin after each market cycle have been proven wrong, as the nascent digital money has continued to thrive despite their predictions. As these critics run out of analogies to use, it has become clear that their accusations are unfounded.\n", + "title": "How has the exchange rate of bitcoin trended over time" + } + } + } } diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.02-lesson-its-too-volatile.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.02-lesson-its-too-volatile.json index e60114a..1315fb9 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501.02-lesson-its-too-volatile.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.02-lesson-its-too-volatile.json @@ -1,17 +1,22 @@ { - "answers": [ - "Buyers and sellers reaching agreements in real-time", - "Government intervention", - "The phase of the moon" - ], - "feedback": [ - "You're correct! The primary factor influencing the volatility of bitcoin's price is actually the agreements reached in real-time between buyers and sellers", - "I'm sorry, that's not quite right. While government intervention can certainly affect the price of bitcoin, it is not the primary factor influencing its volatility", - "Sorry, that's incorrect. While the phase of the moon may have some strange effects on certain things, it does not play a significant role in the volatility of bitcoin's exchange rate. Keep trying!" - ], - "id": "itstooVolatile", - "question": "What is the primary factor influencing the volatility of bitcoin's exchange rate", - "text": "It is subjective to expect bitcoin to maintain a specific price range, as it is traded around the clock, every day of the year, across the world. There are no requirements for registration, bank holidays, circuit breakers, or bailouts in the bitcoin market, which operates as a truly free market.\n\nAny and all volatility in bitcoin's price is the result of buyers and sellers reaching agreements in real-time without interference from governments. As bitcoin continues its journey towards becoming a primary global store of value in the Information Age, it is unrealistic to assume that its progress would be linear.\n\nAs adoption of bitcoin increases, it becomes less risky and potential upside decreases, leading to a decrease in volatility.\n", - "title": "It's too volatile!", - "type": "Text" + "itstooVolatile": { + "title": "It's too volatile!", + "questions": { + "itstooVolatile": { + "answers": [ + "Buyers and sellers reaching agreements in real-time", + "Government intervention", + "The phase of the moon" + ], + "feedback": [ + "You're correct! The primary factor influencing the volatility of bitcoin's price is actually the agreements reached in real-time between buyers and sellers", + "I'm sorry, that's not quite right. While government intervention can certainly affect the price of bitcoin, it is not the primary factor influencing its volatility", + "Sorry, that's incorrect. While the phase of the moon may have some strange effects on certain things, it does not play a significant role in the volatility of bitcoin's exchange rate. Keep trying!" + ], + "question": "What is the primary factor influencing the volatility of bitcoin's exchange rate", + "text": "It is subjective to expect bitcoin to maintain a specific price range, as it is traded around the clock, every day of the year, across the world. There are no requirements for registration, bank holidays, circuit breakers, or bailouts in the bitcoin market, which operates as a truly free market.\n\nAny and all volatility in bitcoin's price is the result of buyers and sellers reaching agreements in real-time without interference from governments. As bitcoin continues its journey towards becoming a primary global store of value in the Information Age, it is unrealistic to assume that its progress would be linear.\n\nAs adoption of bitcoin increases, it becomes less risky and potential upside decreases, leading to a decrease in volatility.\n", + "title": "What is the primary factor influencing the volatility of bitcoin's exchange rate" + } + } + } } diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.03-lesson-its-not-backed.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.03-lesson-its-not-backed.json index 22d7bf7..e46c46f 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501.03-lesson-its-not-backed.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.03-lesson-its-not-backed.json @@ -1,17 +1,22 @@ { - "answers": [ - "The credibility of its monetary properties", - "Rarity", - "The color purple" - ], - "feedback": [ - "Spot on! According to Parker Lewis, the only thing that backs any money is the credibility of its monetary properties", - "That's not quite right. While rarity can certainly contribute to the value of money, it is not the only thing that backs it. Try again", - "That's incorrect. While the color purple may be a beautiful and regal choice for a currency, it does not actually play a role in backing money." - ], - "id": "itsnotBacked", - "question": "What is the only thing that backs any money, according to Parker Lewis", - "text": "The idea of backed money is contradictory, as the backing itself would then be considered money. Part of the value of money comes from its rarity. Bitcoin does not need to be backed by something else that is rare because it is inherently scarce.\n\nVerifiable and auditable through independent means, bitcoin is free of counterparty risk. There is no third party that must be trusted to keep and secure commodities or assets. If anything, it is possible that the future will be backed by bitcoin.\n\nAs Parker Lewis stated, \"Ultimately, bitcoin is backed by something, and it's the only thing that backs any money: the credibility of its monetary properties.\"\n", - "title": "Should money be backed by something?", - "type": "Text" + "itsnotBacked": { + "title": "Should money be backed by something?", + "questions": { + "itsnotBacked": { + "answers": [ + "The credibility of its monetary properties", + "Rarity", + "The color purple" + ], + "feedback": [ + "Spot on! According to Parker Lewis, the only thing that backs any money is the credibility of its monetary properties", + "That's not quite right. While rarity can certainly contribute to the value of money, it is not the only thing that backs it. Try again", + "That's incorrect. While the color purple may be a beautiful and regal choice for a currency, it does not actually play a role in backing money." + ], + "question": "What is the only thing that backs any money, according to Parker Lewis", + "text": "The idea of backed money is contradictory, as the backing itself would then be considered money. Part of the value of money comes from its rarity. Bitcoin does not need to be backed by something else that is rare because it is inherently scarce.\n\nVerifiable and auditable through independent means, bitcoin is free of counterparty risk. There is no third party that must be trusted to keep and secure commodities or assets. If anything, it is possible that the future will be backed by bitcoin.\n\nAs Parker Lewis stated, \"Ultimately, bitcoin is backed by something, and it's the only thing that backs any money: the credibility of its monetary properties.\"\n", + "title": "What is the only thing that backs any money, according to Parker Lewis" + } + } + } } diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.04-lesson-will-become-obsolete.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.04-lesson-will-become-obsolete.json index 3f69973..0a04601 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501.04-lesson-will-become-obsolete.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.04-lesson-will-become-obsolete.json @@ -1,17 +1,22 @@ { - "answers": [ - "No, it is not possible for bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", - "Yes, it is possible that bitcoin could become obsolete if a more secure or widely used digital monetary network is developed.", - "that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that" - ], - "feedback": [ - "bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", - "Well, you're not wrong about that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that", - "Uh oh, looks like you're playing it safe but not quite hitting the mark. While it's true that no one can predict the future, it's pretty clear that bitcoin has a solid grip on the digital monetary network game. Try again." - ], - "id": "willbecomeObsolete", - "question": "Is it possible that bitcoin becomes obsolete one day", - "text": "Bitcoin represents a unique discovery of absolute scarcity, similar to the discovery of fire, electricity, or the field of mathematics.\n\nIt is not logical or possible to compete with bitcoin in terms of scarcity, as there is no level of scarcity higher than absolute scarcity. Criticisms of bitcoin's perceived limitations or drawbacks assume that there are no trade-offs in terms of security and incentive design, or that bitcoin's current form does not already provide significant benefits to millions of users.\n\nAs a rapidly growing, unrestricted network with a 99.98% uptime over more than a decade, having processed trillions of dollars in value and secured by billions of dollars in hardware, it is unlikely that bitcoin will be displaced as the dominant digital monetary network at this point.\n\nAs Michael Saylor stated, \"There's never been an example of a $100B monster digital network that was vanquished once it got to that dominant position.\"\n", - "title": "Will bitcoin become obsolete one day?", - "type": "Text" + "willbecomeObsolete": { + "title": "Will bitcoin become obsolete one day?", + "questions": { + "willbecomeObsolete": { + "answers": [ + "No, it is not possible for bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Yes, it is possible that bitcoin could become obsolete if a more secure or widely used digital monetary network is developed.", + "that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that" + ], + "feedback": [ + "bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Well, you're not wrong about that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that", + "Uh oh, looks like you're playing it safe but not quite hitting the mark. While it's true that no one can predict the future, it's pretty clear that bitcoin has a solid grip on the digital monetary network game. Try again." + ], + "question": "Is it possible that bitcoin becomes obsolete one day", + "text": "Bitcoin represents a unique discovery of absolute scarcity, similar to the discovery of fire, electricity, or the field of mathematics.\n\nIt is not logical or possible to compete with bitcoin in terms of scarcity, as there is no level of scarcity higher than absolute scarcity. Criticisms of bitcoin's perceived limitations or drawbacks assume that there are no trade-offs in terms of security and incentive design, or that bitcoin's current form does not already provide significant benefits to millions of users.\n\nAs a rapidly growing, unrestricted network with a 99.98% uptime over more than a decade, having processed trillions of dollars in value and secured by billions of dollars in hardware, it is unlikely that bitcoin will be displaced as the dominant digital monetary network at this point.\n\nAs Michael Saylor stated, \"There's never been an example of a $100B monster digital network that was vanquished once it got to that dominant position.\"\n", + "title": "Is it possible that bitcoin becomes obsolete one day" + } + } + } } diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.05-lesson-too-much-energy.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.05-lesson-too-much-energy.json index 4ec2570..448fc98 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501.05-lesson-too-much-energy.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.05-lesson-too-much-energy.json @@ -1,17 +1,22 @@ { - "answers": [ - "It helps to even out the distribution of energy consumption around the world.", - "It increases the distribution of energy consumption around the world.", - "It decreases the distribution of energy consumption around the world." - ], - "feedback": [ - "You got it right. Did you know that bitcoin's fixed energy price helps to incentivize the use of renewable energy sources in areas where they may not have been economically viable before", - "Well, I see you're a fan of chaos and global energy inequality, but this answer is wrong", - "Looks like you're trying to save the world one energy imbalance at a time. This answer is clearly incorrect." - ], - "id": "toomuchEnergy", - "question": "How does bitcoin impact global energy consumption", - "text": "Bitcoin is a decentralized digital currency that is accessible to users around the world and is resistant to censorship due to its Proof of Work mechanism.\n\nWith an estimated four billion people currently living under authoritarianism, bitcoin provides a way for individuals to send, receive, save, and transport wealth. It is important to consider the amount of energy that a monetary network like this should consume and to carefully evaluate who is best equipped to make decisions about this.\n\nOne way to think about the impact of bitcoin on global energy consumption is to imagine a topographic map of the world, with local electricity costs represented by the peaks and troughs. Adding bitcoin to the mix is like pouring a glass of water over the map - it settles in the troughs, smoothing them out. This is because bitcoin is a global buyer of energy at a fixed price, which helps to even out the distribution of energy consumption around the world.\n", - "title": "Is bitcoin's energy consumption excessive?", - "type": "Text" + "toomuchEnergy": { + "title": "Is bitcoin's energy consumption excessive?", + "questions": { + "toomuchEnergy": { + "answers": [ + "It helps to even out the distribution of energy consumption around the world.", + "It increases the distribution of energy consumption around the world.", + "It decreases the distribution of energy consumption around the world." + ], + "feedback": [ + "You got it right. Did you know that bitcoin's fixed energy price helps to incentivize the use of renewable energy sources in areas where they may not have been economically viable before", + "Well, I see you're a fan of chaos and global energy inequality, but this answer is wrong", + "Looks like you're trying to save the world one energy imbalance at a time. This answer is clearly incorrect." + ], + "question": "How does bitcoin impact global energy consumption", + "text": "Bitcoin is a decentralized digital currency that is accessible to users around the world and is resistant to censorship due to its Proof of Work mechanism.\n\nWith an estimated four billion people currently living under authoritarianism, bitcoin provides a way for individuals to send, receive, save, and transport wealth. It is important to consider the amount of energy that a monetary network like this should consume and to carefully evaluate who is best equipped to make decisions about this.\n\nOne way to think about the impact of bitcoin on global energy consumption is to imagine a topographic map of the world, with local electricity costs represented by the peaks and troughs. Adding bitcoin to the mix is like pouring a glass of water over the map - it settles in the troughs, smoothing them out. This is because bitcoin is a global buyer of energy at a fixed price, which helps to even out the distribution of energy consumption around the world.\n", + "title": "How does bitcoin impact global energy consumption" + } + } + } } diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.06-lesson-stranded-energy.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.06-lesson-stranded-energy.json index 168b431..541b5c3 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501.06-lesson-stranded-energy.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.06-lesson-stranded-energy.json @@ -1,17 +1,22 @@ { - "answers": [ - "By using it to power onsite equipment that generates hashes to produce bitcoin", - "By selling it on the bitcoin market", - "By creating a new form of renewable energy" - ], - "feedback": [ - "Congratulations! You've correctly identified the use of excess energy in bitcoin mining. Did you know that this process can be done in any location, even in areas where there is no local demand for the energy being generated", - "I see you're a fan of making money through unconventional means. Too bad that's not what this lesson is about. Try again", - "It looks like you're trying to save the world one renewable energy source at a time. While that's admirable, unfortunately that's not the right answer." - ], - "id": "strandedEnergy", - "question": "How can excess energy be used through bitcoin mining", - "text": "Exactly**.** Bitcoin mining provides a portable solution for utilizing energy assets in regions where there is no local demand or means of transportation. By using onsite equipment to generate hashes, it is possible to produce bitcoin, which can then be held for future value appreciation or sold on the highly liquid and globally accessible bitcoin market.\n", - "title": "Wait, are you telling me that bitcoin can be used to tap into stranded energy?", - "type": "Text" + "strandedEnergy": { + "title": "Wait, are you telling me that bitcoin can be used to tap into stranded energy?", + "questions": { + "strandedEnergy": { + "answers": [ + "By using it to power onsite equipment that generates hashes to produce bitcoin", + "By selling it on the bitcoin market", + "By creating a new form of renewable energy" + ], + "feedback": [ + "Congratulations! You've correctly identified the use of excess energy in bitcoin mining. Did you know that this process can be done in any location, even in areas where there is no local demand for the energy being generated", + "I see you're a fan of making money through unconventional means. Too bad that's not what this lesson is about. Try again", + "It looks like you're trying to save the world one renewable energy source at a time. While that's admirable, unfortunately that's not the right answer." + ], + "question": "How can excess energy be used through bitcoin mining", + "text": "Exactly**.** Bitcoin mining provides a portable solution for utilizing energy assets in regions where there is no local demand or means of transportation. By using onsite equipment to generate hashes, it is possible to produce bitcoin, which can then be held for future value appreciation or sold on the highly liquid and globally accessible bitcoin market.\n", + "title": "How can excess energy be used through bitcoin mining" + } + } + } } diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json index 7b0ec3e..a738db8 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json @@ -1,110 +1,134 @@ -{ - "content": [ - { - "answers": [ - "By sending a transaction via SMS", - "By posting a message on a social media platform", - "By sending an email" - ], - "feedback": [ - "You've identified a way to send bitcoin transactions even when the internet is down. Good thinking", - "Well, it looks like you're trying to stay connected in the digital age even during an internet outage, but that's incorrect", - "I see you're trying to stay connected through traditional means, but unfortunately sending an email might not be the most reliable way to send bitcoin transactions during an internet outage. Try again!" - ], - "id": "internetDependent", - "question": "How can bitcoin transactions be sent in the event of an internet disruption", - "text": "There is a risk, of course, that internet access may be lost due to infrastructure failures, natural disasters, or intentional outages. However, it is possible to transact bitcoin using offline methods and other communication networks.\n\nFor instance, a signed bitcoin transaction can be transmitted to a single node and broadcast to the network for inclusion in a block by miners. There are various ways to do this, such as sending a transaction via SMS, using a physical wallet with a one-time use tamper-evident private key, or receiving blocks via satellite. These options allow for bitcoin to be used even in the event of an internet disruption.\n", +[ + { + "internetDependent": { "title": "Bitcoin is too dependent on the Internet", - "type": "Text" - }, - { - "answers": [ - "No", - "Yes", - "It depends on the individual circumstances" - ], - "feedback": [ - "Well done! You've correctly identified that it is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.", - "I see you're a fan of sensational headlines and jumping to conclusions. Unfortunately, that's not based in reality", - "It looks like you're trying to take a balanced approach, but is not accurate to make this claim regardless of individual circumstances. Try again." - ], - "id": "forcrimeOnly", - "question": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity", - "text": "Bitcoin is a neutral tool for exchanging value, and it has no inherent beliefs, opinions, or values. Its meaning is determined by how it is used. It is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.\n\nCrime does not stem from access to tools, but rather from individual circumstances. If bitcoin is useful, it can be used by anyone, including criminals. If it is not useful, it cannot be used by anyone, including criminals.\n\nAs Parker Lewis stated, \"There is nothing inherent about the tools used to facilitate crimes that makes them criminal in themselves. Despite criminal use, no one is calling for the ban of roads, the internet, mail, etc.\"\n", + "questions": { + "internetDependent": { + "answers": [ + "By sending a transaction via SMS", + "By posting a message on a social media platform", + "By sending an email" + ], + "feedback": [ + "You've identified a way to send bitcoin transactions even when the internet is down. Good thinking", + "Well, it looks like you're trying to stay connected in the digital age even during an internet outage, but that's incorrect", + "I see you're trying to stay connected through traditional means, but unfortunately sending an email might not be the most reliable way to send bitcoin transactions during an internet outage. Try again!" + ], + "question": "How can bitcoin transactions be sent in the event of an internet disruption", + "text": "There is a risk, of course, that internet access may be lost due to infrastructure failures, natural disasters, or intentional outages. However, it is possible to transact bitcoin using offline methods and other communication networks.\n\nFor instance, a signed bitcoin transaction can be transmitted to a single node and broadcast to the network for inclusion in a block by miners. There are various ways to do this, such as sending a transaction via SMS, using a physical wallet with a one-time use tamper-evident private key, or receiving blocks via satellite. These options allow for bitcoin to be used even in the event of an internet disruption.\n", + "title": "How can bitcoin transactions be sent in the event of an internet disruption" + } + } + } + }, + { + "forcrimeOnly": { "title": "Bitcoin is for Criminals", - "type": "Text" - }, - { - "answers": [ - "It is a form of money", - "It is a ponzi scheme", - "It is an open-source investment scheme" - ], - "feedback": [ - "Congratulations! You've earned some sats for correctly identifying that bitcoin is a form of money. Did you know that bitcoin was the first decentralized digital currency to be created, and it operates without a central bank or single administrator", - "Ah hah! You fell for the old ponzi scheme trick! Just kidding, but seriously, that's not what bitcoin is", - "Nope, sorry! Bitcoin isn't an open-source investment scheme. But hey, at least you're learning about it, right?" - ], - "id": "ponziScheme", - "question": "Which of the following statements is true about bitcoin", - "text": "Calling bitcoin a ponzi scheme shows a lack of understanding of both bitcoin and the definition of a ponzi scheme. A ponzi scheme involves promises of above-market returns to investors, but as a permissionless network, bitcoin does not have a central authority that can make such promises.\n\nAdditionally, bitcoin is not an investment scheme, it is a form of money. Unlike opaque investment opportunities that may be promoted to unsuspecting individuals, bitcoin's code is open-source and its supply can be independently verified at all times.\n", + "questions": { + "forcrimeOnly": { + "answers": [ + "No", + "Yes", + "It depends on the individual circumstances" + ], + "feedback": [ + "Well done! You've correctly identified that it is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.", + "I see you're a fan of sensational headlines and jumping to conclusions. Unfortunately, that's not based in reality", + "It looks like you're trying to take a balanced approach, but is not accurate to make this claim regardless of individual circumstances. Try again." + ], + "question": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity", + "text": "Bitcoin is a neutral tool for exchanging value, and it has no inherent beliefs, opinions, or values. Its meaning is determined by how it is used. It is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.\n\nCrime does not stem from access to tools, but rather from individual circumstances. If bitcoin is useful, it can be used by anyone, including criminals. If it is not useful, it cannot be used by anyone, including criminals.\n\nAs Parker Lewis stated, \"There is nothing inherent about the tools used to facilitate crimes that makes them criminal in themselves. Despite criminal use, no one is calling for the ban of roads, the internet, mail, etc.\"\n", + "title": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity" + } + } + } + }, + { + "ponziScheme": { "title": "Bitcoin is a Ponzi Scheme", - "type": "Text" - }, - { - "answers": [ - "Credit card payments go through multiple parties before reaching the merchant, while bitcoin payments go directly to the recipient without intermediaries", - "Credit card payments are final once they are confirmed, while bitcoin payments can be reversed", - "but at least you're learning about bitcoin" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin payment mastery. You seem to understand that bitcoin operates without a central bank or single administrator", - "Uh oh, looks like you might have gotten the wrong answer, but at least you're learning about bitcoin", - "Nope, sorry! Credit card payments are being censored all the time, but good try. Keep learning about bitcoin!" - ], - "id": "bitcoinisTooSlow", - "question": "What is the main difference between paying with a credit card and paying with bitcoin on-chain", - "text": "Paying with bitcoin is not the same as using a credit card to make a purchase. When you use a credit card, your payment goes through multiple parties before reaching the merchant's bank account after days or even weeks of processing.\n\nIn contrast, when you pay with bitcoin on the main blockchain, you are sending actual money directly to the recipient without any intermediaries. This means there is no risk of censorship and the transaction is considered final once it has been confirmed by six blocks on the blockchain.\n\nThe proper comparison would be between bitcoin base layer and the Fed as currency issuer and as a clearing mechanism.\n\nSince the advent of the Lightning Network, the \"Bitcoin is too slow\" criticism has largely fallen silent.\n", + "questions": { + "ponziScheme": { + "answers": [ + "It is a form of money", + "It is a ponzi scheme", + "It is an open-source investment scheme" + ], + "feedback": [ + "Congratulations! You've earned some sats for correctly identifying that bitcoin is a form of money. Did you know that bitcoin was the first decentralized digital currency to be created, and it operates without a central bank or single administrator", + "Ah hah! You fell for the old ponzi scheme trick! Just kidding, but seriously, that's not what bitcoin is", + "Nope, sorry! Bitcoin isn't an open-source investment scheme. But hey, at least you're learning about it, right?" + ], + "question": "Which of the following statements is true about bitcoin", + "text": "Calling bitcoin a ponzi scheme shows a lack of understanding of both bitcoin and the definition of a ponzi scheme. A ponzi scheme involves promises of above-market returns to investors, but as a permissionless network, bitcoin does not have a central authority that can make such promises.\n\nAdditionally, bitcoin is not an investment scheme, it is a form of money. Unlike opaque investment opportunities that may be promoted to unsuspecting individuals, bitcoin's code is open-source and its supply can be independently verified at all times.\n", + "title": "Which of the following statements is true about bitcoin" + } + } + } + }, + { + "bitcoinisTooSlow": { "title": "Bitcoin is too slow", - "type": "Text" - }, - { - "answers": [ - "Through a decentralized consensus process in which every transaction is independently validated by nodes on the network", - "Through a centralized process in which a single authority controls the issuance of new coins", - "By fixing the maximum supply at an arbitrary number, such as 100 million" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin supply mastery. Did you know that the decentralized nature of the bitcoin network allows for greater transparency, as every transaction is independently validated by nodes on the network", - "Nope, sorry! Bitcoin's supply isn't controlled by a central authority. Try again", - "Uh oh, looks like you might have gotten the wrong answer. The maximum supply of bitcoin is fixed at 21 million, not 100 million. But at least you're learning about bitcoin!" - ], - "id": "supplyLimit", - "question": "How is the supply of bitcoin protected from being corrupted", - "text": "Bitcoin's decentralized nature allows for its supply to be independently validated by each node on the network, ensuring that it cannot be corrupted. This is achieved through a consensus process in which every transaction that has been confirmed on the bitcoin network is independently validated.\n\nWhile anyone can fork the code and make changes to the rules, it is unlikely that this version of the code would be adopted by the wider network. The decentralized consensus process and the incorruptible supply of bitcoin are crucial to its appeal as a form of money.\n\nThe maximum supply of bitcoin is fixed at 21 million, and any attempt to increase this limit would require consensus from a significant portion of the bitcoin network, which is highly unlikely to happen.\n", + "questions": { + "bitcoinisTooSlow": { + "answers": [ + "Credit card payments go through multiple parties before reaching the merchant, while bitcoin payments go directly to the recipient without intermediaries", + "Credit card payments are final once they are confirmed, while bitcoin payments can be reversed", + "but at least you're learning about bitcoin" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin payment mastery. You seem to understand that bitcoin operates without a central bank or single administrator", + "Uh oh, looks like you might have gotten the wrong answer, but at least you're learning about bitcoin", + "Nope, sorry! Credit card payments are being censored all the time, but good try. Keep learning about bitcoin!" + ], + "question": "What is the main difference between paying with a credit card and paying with bitcoin on-chain", + "text": "Paying with bitcoin is not the same as using a credit card to make a purchase. When you use a credit card, your payment goes through multiple parties before reaching the merchant's bank account after days or even weeks of processing.\n\nIn contrast, when you pay with bitcoin on the main blockchain, you are sending actual money directly to the recipient without any intermediaries. This means there is no risk of censorship and the transaction is considered final once it has been confirmed by six blocks on the blockchain.\n\nThe proper comparison would be between bitcoin base layer and the Fed as currency issuer and as a clearing mechanism.\n\nSince the advent of the Lightning Network, the \"Bitcoin is too slow\" criticism has largely fallen silent.\n", + "title": "What is the main difference between paying with a credit card and paying with bitcoin on-chain" + } + } + } + }, + { + "supplyLimit": { "title": "Bitcoin's Supply Limit Could Be Corrupted", - "type": "Text" - }, - { - "answers": [ - "No, because the decentralized nature of the bitcoin network makes it difficult to enforce a ban", - "Yes, by preventing the generation of random numbers", - "Yes, by shutting down the internet" - ], - "feedback": [ - "Correct. The decentralized nature of the bitcoin network makes it difficult to enforce a ban", - "Nope, silly! While it is technically possible for governments to ban bitcoin, it would be nearly impossible to enforce such a ban. Try again", - "Uh oh, looks like you might have gotten the wrong answer. Shutting down the internet wouldn't necessarily stop people from using bitcoin." - ], - "id": "governmentBan", - "question": "Can governments effectively ban bitcoin", - "text": "It is technically possible for governments to ban bitcoin, but enforcing such a ban would be difficult due to the decentralized nature of the bitcoin network.\n\nBitcoin relies on private keys, which are simply random numbers, to control access to transactions recorded on the blockchain. These private keys can be generated and stored anywhere, making them largely undectectable.\n\nAdditionally, the infrastructure required to access the bitcoin network is relatively simple and widely available, making it easy for people to trustlessly verify transactions.\n\nAs Saifedean Ammous said, \"Banning bitcoin is not much different from trying to ban math. It will just prove its utility & drive more people to it.\"\n", + "questions": { + "supplyLimit": { + "answers": [ + "Through a decentralized consensus process in which every transaction is independently validated by nodes on the network", + "Through a centralized process in which a single authority controls the issuance of new coins", + "By fixing the maximum supply at an arbitrary number, such as 100 million" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin supply mastery. Did you know that the decentralized nature of the bitcoin network allows for greater transparency, as every transaction is independently validated by nodes on the network", + "Nope, sorry! Bitcoin's supply isn't controlled by a central authority. Try again", + "Uh oh, looks like you might have gotten the wrong answer. The maximum supply of bitcoin is fixed at 21 million, not 100 million. But at least you're learning about bitcoin!" + ], + "question": "How is the supply of bitcoin protected from being corrupted", + "text": "Bitcoin's decentralized nature allows for its supply to be independently validated by each node on the network, ensuring that it cannot be corrupted. This is achieved through a consensus process in which every transaction that has been confirmed on the bitcoin network is independently validated.\n\nWhile anyone can fork the code and make changes to the rules, it is unlikely that this version of the code would be adopted by the wider network. The decentralized consensus process and the incorruptible supply of bitcoin are crucial to its appeal as a form of money.\n\nThe maximum supply of bitcoin is fixed at 21 million, and any attempt to increase this limit would require consensus from a significant portion of the bitcoin network, which is highly unlikely to happen.\n", + "title": "How is the supply of bitcoin protected from being corrupted" + } + } + } + }, + { + "governmentBan": { "title": "Governments Will Ban Bitcoin", - "type": "Text" + "questions": { + "governmentBan": { + "answers": [ + "No, because the decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Yes, by preventing the generation of random numbers", + "Yes, by shutting down the internet" + ], + "feedback": [ + "Correct. The decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Nope, silly! While it is technically possible for governments to ban bitcoin, it would be nearly impossible to enforce such a ban. Try again", + "Uh oh, looks like you might have gotten the wrong answer. Shutting down the internet wouldn't necessarily stop people from using bitcoin." + ], + "question": "Can governments effectively ban bitcoin", + "text": "It is technically possible for governments to ban bitcoin, but enforcing such a ban would be difficult due to the decentralized nature of the bitcoin network.\n\nBitcoin relies on private keys, which are simply random numbers, to control access to transactions recorded on the blockchain. These private keys can be generated and stored anywhere, making them largely undectectable.\n\nAdditionally, the infrastructure required to access the bitcoin network is relatively simple and widely available, making it easy for people to trustlessly verify transactions.\n\nAs Saifedean Ammous said, \"Banning bitcoin is not much different from trying to ban math. It will just prove its utility & drive more people to it.\"\n", + "title": "Can governments effectively ban bitcoin" + } + } } - ], - "meta": { - "id": "BitcoinCriticisms&FallaciesII", - "title": "Bitcoin Criticisms & Fallacies II" } -} +] diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502-es-combined.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502-es-combined.json deleted file mode 100644 index c496e92..0000000 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502-es-combined.json +++ /dev/null @@ -1,110 +0,0 @@ -{ - "content": [ - { - "answers": [ - "Enviando una transacci\u00f3n v\u00eda SMS", - "Publicando un mensaje en una plataforma de redes sociales.", - "Enviando un correo electr\u00f3nico" - ], - "feedback": [ - "Ha identificado una forma de enviar transacciones de bitcoins incluso cuando Internet no funciona. Buen pensamiento", - "Bueno, parece que est\u00e1s intentando mantenerte conectado en la era digital incluso durante un corte de Internet, pero eso es incorrecto.", - "Veo que est\u00e1s intentando mantenerte conectado a trav\u00e9s de medios tradicionales, pero desafortunadamente enviar un correo electr\u00f3nico puede no ser la forma m\u00e1s confiable de enviar transacciones de bitcoins durante una interrupci\u00f3n de Internet. \u00a1Intentar otra vez!" - ], - "id": "internetDependiente", - "question": "\u00bfC\u00f3mo se pueden enviar transacciones de bitcoins en caso de una interrupci\u00f3n de Internet?", - "text": "Por supuesto, existe el riesgo de que se pierda el acceso a Internet debido a fallas en la infraestructura, desastres naturales o cortes intencionales. Sin embargo, es posible realizar transacciones con bitcoins utilizando m\u00e9todos fuera de l\u00ednea y otras redes de comunicaci\u00f3n.\n\nPor ejemplo, una transacci\u00f3n de bitcoin firmada puede transmitirse a un solo nodo y transmitirse a la red para que los mineros la incluyan en un bloque. Hay varias formas de hacer esto, como enviar una transacci\u00f3n a trav\u00e9s de SMS, usar una billetera f\u00edsica con una clave privada de uso \u00fanico a prueba de manipulaciones o recibir bloques v\u00eda sat\u00e9lite. Estas opciones permiten el uso de bitcoins incluso en caso de una interrupci\u00f3n de Internet.\n", - "title": "Bitcoin depende demasiado de Internet", - "type": "Texto" - }, - { - "answers": [ - "No", - "S\u00ed", - "Depende de las circunstancias individuales." - ], - "feedback": [ - "\u00a1Bien hecho! Ha identificado correctamente que no es exacto afirmar que las propiedades de bitcoin han provocado un aumento general de la actividad delictiva.", - "Veo que eres fan\u00e1tico de los titulares sensacionalistas y de sacar conclusiones precipitadas. Desafortunadamente, eso no se basa en la realidad.", - "Parece que est\u00e1 intentando adoptar un enfoque equilibrado, pero no es exacto hacer esta afirmaci\u00f3n independientemente de las circunstancias individuales. Intentar otra vez." - ], - "id": "solo para el crimen", - "question": "\u00bfEs exacto afirmar que las propiedades de bitcoin han provocado un aumento general de la actividad delictiva?", - "text": "Bitcoin es una herramienta neutral para intercambiar valor y no tiene creencias, opiniones o valores inherentes. Su significado est\u00e1 determinado por c\u00f3mo se usa. No es exacto afirmar que las propiedades de bitcoin han llevado a un aumento general de la actividad criminal.\n\nLa delincuencia no surge del acceso a herramientas, sino de circunstancias individuales. Si bitcoin es \u00fatil, cualquiera puede usarlo, incluidos los delincuentes. Si no es \u00fatil, nadie puede utilizarlo, ni siquiera los delincuentes.\n\nComo afirm\u00f3 Parker Lewis: \"No hay nada inherente en las herramientas utilizadas para facilitar los delitos que los convierta en criminales en s\u00ed mismos. A pesar del uso criminal, nadie pide la prohibici\u00f3n de las carreteras, Internet, el correo, etc.\"\n", - "title": "Bitcoin es para criminales", - "type": "Texto" - }, - { - "answers": [ - "es una forma de dinero", - "es un esquema ponzi", - "Es un esquema de inversi\u00f3n de c\u00f3digo abierto." - ], - "feedback": [ - "\u00a1Felicidades! Obtuviste algunos sats por identificar correctamente que bitcoin es una forma de dinero. \u00bfSab\u00edas que bitcoin fue la primera moneda digital descentralizada que se cre\u00f3 y opera sin un banco central ni un administrador \u00fanico?", - "\u00a1Ah, ja! \u00a1Ca\u00edste en el viejo truco del esquema Ponzi! Es broma, pero en serio, eso no es lo que es bitcoin", - "\u00a1No, lo siento! Bitcoin no es un plan de inversi\u00f3n de c\u00f3digo abierto. Pero bueno, al menos est\u00e1s aprendiendo sobre esto, \u00bfverdad?" - ], - "id": "esquema ponzi", - "question": "\u00bfCu\u00e1l de las siguientes afirmaciones es cierta sobre bitcoin?", - "text": "Llamar a Bitcoin un esquema Ponzi muestra una falta de comprensi\u00f3n tanto de Bitcoin como de la definici\u00f3n de un esquema Ponzi. Un esquema Ponzi implica promesas de rendimientos superiores a los del mercado a los inversores, pero como red sin permiso, bitcoin no tiene una autoridad central que pueda hacer tales promesas.\n\nAdem\u00e1s, bitcoin no es un plan de inversi\u00f3n, es una forma de dinero. A diferencia de las oportunidades de inversi\u00f3n opacas que pueden promocionarse entre personas desprevenidas, el c\u00f3digo de bitcoin es de c\u00f3digo abierto y su suministro puede verificarse de forma independiente en todo momento.\n", - "title": "Bitcoin es un esquema Ponzi", - "type": "Texto" - }, - { - "answers": [ - "Los pagos con tarjeta de cr\u00e9dito pasan por varias partes antes de llegar al comerciante, mientras que los pagos con bitcoins van directamente al destinatario sin intermediarios.", - "Los pagos con tarjeta de cr\u00e9dito son definitivos una vez confirmados, mientras que los pagos con bitcoins se pueden revertir", - "pero al menos est\u00e1s aprendiendo sobre bitcoin" - ], - "feedback": [ - "\u00a1Felicidades! Has desbloqueado el m\u00e1ximo dominio en pagos con bitcoins. Parece comprender que Bitcoin opera sin un banco central ni un administrador \u00fanico.", - "Oh oh, parece que es posible que hayas recibido la respuesta equivocada, pero al menos est\u00e1s aprendiendo sobre bitcoin.", - "\u00a1No, lo siento! Los pagos con tarjeta de cr\u00e9dito est\u00e1n siendo censurados todo el tiempo, pero buen intento. \u00a1Sigue aprendiendo sobre bitcoin!" - ], - "id": "bitcoinisDemasiado lento", - "question": "\u00bfCu\u00e1l es la principal diferencia entre pagar con tarjeta de cr\u00e9dito y pagar con bitcoin en cadena?", - "text": "No es lo mismo pagar con bitcoin que utilizar una tarjeta de cr\u00e9dito para realizar una compra. Cuando utiliza una tarjeta de cr\u00e9dito, su pago pasa por varias partes antes de llegar a la cuenta bancaria del comerciante despu\u00e9s de d\u00edas o incluso semanas de procesamiento.\n\nPor el contrario, cuando pagas con bitcoin en la cadena de bloques principal, est\u00e1s enviando dinero real directamente al destinatario sin intermediarios. Esto significa que no hay riesgo de censura y la transacci\u00f3n se considera definitiva una vez que ha sido confirmada por seis bloques en la cadena de bloques.\n\nLa comparaci\u00f3n adecuada ser\u00eda entre la capa base de bitcoin y la Reserva Federal como emisor de moneda y como mecanismo de compensaci\u00f3n.\n\nDesde la llegada de Lightning Network, la cr\u00edtica de que \"Bitcoin es demasiado lento\" se ha silenciado en gran medida.\n", - "title": "Bitcoin es demasiado lento", - "type": "Texto" - }, - { - "answers": [ - "A trav\u00e9s de un proceso de consenso descentralizado en el que cada transacci\u00f3n es validada de forma independiente por nodos de la red.", - "A trav\u00e9s de un proceso centralizado en el que una \u00fanica autoridad controla la emisi\u00f3n de nuevas monedas.", - "Fijando la oferta m\u00e1xima en un n\u00famero arbitrario, como 100 millones" - ], - "feedback": [ - "\u00a1Felicidades! Has desbloqueado el m\u00e1ximo dominio en el suministro de bitcoins. \u00bfSab\u00edas que la naturaleza descentralizada de la red bitcoin permite una mayor transparencia, ya que cada transacci\u00f3n es validada de forma independiente por los nodos de la red?", - "\u00a1No, lo siento! El suministro de Bitcoin no est\u00e1 controlado por una autoridad central. Intentar otra vez", - "Oh oh, parece que es posible que hayas obtenido la respuesta incorrecta. La oferta m\u00e1xima de bitcoins se fija en 21 millones, no en 100 millones. \u00a1Pero al menos est\u00e1s aprendiendo sobre bitcoin!" - ], - "id": "l\u00edmite de suministro", - "question": "\u00bfC\u00f3mo se protege el suministro de bitcoins contra la corrupci\u00f3n?", - "text": "La naturaleza descentralizada de Bitcoin permite que cada nodo de la red valide su suministro de forma independiente, lo que garantiza que no pueda corromperse. Esto se logra mediante un proceso de consenso en el que cada transacci\u00f3n que se ha confirmado en la red bitcoin se valida de forma independiente.\n\nSi bien cualquiera puede bifurcar el c\u00f3digo y realizar cambios en las reglas, es poco probable que esta versi\u00f3n del c\u00f3digo sea adoptada por la red en general. El proceso de consenso descentralizado y el suministro incorruptible de bitcoin son cruciales para su atractivo como forma de dinero.\n\nEl suministro m\u00e1ximo de bitcoins est\u00e1 fijado en 21 millones, y cualquier intento de aumentar este l\u00edmite requerir\u00eda el consenso de una parte importante de la red bitcoin, lo que es muy poco probable que suceda.\n", - "title": "El l\u00edmite de oferta de Bitcoin podr\u00eda estar corrupto", - "type": "Texto" - }, - { - "answers": [ - "No, porque la naturaleza descentralizada de la red bitcoin dificulta la aplicaci\u00f3n de una prohibici\u00f3n.", - "S\u00ed, evitando la generaci\u00f3n de n\u00fameros aleatorios.", - "S\u00ed, cerrando Internet." - ], - "feedback": [ - "Correcto. La naturaleza descentralizada de la red bitcoin dificulta la aplicaci\u00f3n de una prohibici\u00f3n.", - "\u00a1No, tonto! Si bien es t\u00e9cnicamente posible que los gobiernos proh\u00edban el bitcoin, ser\u00eda casi imposible hacer cumplir dicha prohibici\u00f3n. Intentar otra vez", - "Oh oh, parece que es posible que hayas obtenido la respuesta incorrecta. Cerrar Internet no necesariamente impedir\u00eda que la gente use bitcoin." - ], - "id": "gobiernoProhibici\u00f3n", - "question": "\u00bfPueden los gobiernos prohibir efectivamente el bitcoin?", - "text": "Es t\u00e9cnicamente posible que los gobiernos proh\u00edban Bitcoin, pero hacer cumplir dicha prohibici\u00f3n ser\u00eda dif\u00edcil debido a la naturaleza descentralizada de la red Bitcoin.\n\nBitcoin se basa en claves privadas, que son simplemente n\u00fameros aleatorios, para controlar el acceso a las transacciones registradas en la cadena de bloques. Estas claves privadas se pueden generar y almacenar en cualquier lugar, lo que las hace en gran medida indetectables.\n\nAdem\u00e1s, la infraestructura necesaria para acceder a la red bitcoin es relativamente simple y est\u00e1 ampliamente disponible, lo que facilita que las personas verifiquen las transacciones sin confianza.\n\nComo dijo Saifedean Ammous, \"Prohibir bitcoin no es muy diferente de intentar prohibir las matem\u00e1ticas. Simplemente demostrar\u00e1 su utilidad y atraer\u00e1 a m\u00e1s personas\".\n", - "title": "Los gobiernos prohibir\u00e1n Bitcoin", - "type": "Texto" - } - ], - "meta": { - "id": "BitcoinCr\u00edticas y falaciasII", - "title": "Cr\u00edticas y falacias de Bitcoin II" - } -} \ No newline at end of file diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.01-lesson-internet-dependent.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.01-lesson-internet-dependent.json index 24f9edc..892ef18 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502.01-lesson-internet-dependent.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.01-lesson-internet-dependent.json @@ -1,17 +1,22 @@ { - "answers": [ - "By sending a transaction via SMS", - "By posting a message on a social media platform", - "By sending an email" - ], - "feedback": [ - "You've identified a way to send bitcoin transactions even when the internet is down. Good thinking", - "Well, it looks like you're trying to stay connected in the digital age even during an internet outage, but that's incorrect", - "I see you're trying to stay connected through traditional means, but unfortunately sending an email might not be the most reliable way to send bitcoin transactions during an internet outage. Try again!" - ], - "id": "internetDependent", - "question": "How can bitcoin transactions be sent in the event of an internet disruption", - "text": "There is a risk, of course, that internet access may be lost due to infrastructure failures, natural disasters, or intentional outages. However, it is possible to transact bitcoin using offline methods and other communication networks.\n\nFor instance, a signed bitcoin transaction can be transmitted to a single node and broadcast to the network for inclusion in a block by miners. There are various ways to do this, such as sending a transaction via SMS, using a physical wallet with a one-time use tamper-evident private key, or receiving blocks via satellite. These options allow for bitcoin to be used even in the event of an internet disruption.\n", - "title": "Bitcoin is too dependent on the Internet", - "type": "Text" + "internetDependent": { + "title": "Bitcoin is too dependent on the Internet", + "questions": { + "internetDependent": { + "answers": [ + "By sending a transaction via SMS", + "By posting a message on a social media platform", + "By sending an email" + ], + "feedback": [ + "You've identified a way to send bitcoin transactions even when the internet is down. Good thinking", + "Well, it looks like you're trying to stay connected in the digital age even during an internet outage, but that's incorrect", + "I see you're trying to stay connected through traditional means, but unfortunately sending an email might not be the most reliable way to send bitcoin transactions during an internet outage. Try again!" + ], + "question": "How can bitcoin transactions be sent in the event of an internet disruption", + "text": "There is a risk, of course, that internet access may be lost due to infrastructure failures, natural disasters, or intentional outages. However, it is possible to transact bitcoin using offline methods and other communication networks.\n\nFor instance, a signed bitcoin transaction can be transmitted to a single node and broadcast to the network for inclusion in a block by miners. There are various ways to do this, such as sending a transaction via SMS, using a physical wallet with a one-time use tamper-evident private key, or receiving blocks via satellite. These options allow for bitcoin to be used even in the event of an internet disruption.\n", + "title": "How can bitcoin transactions be sent in the event of an internet disruption" + } + } + } } diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.02-lesson-for-crime-only.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.02-lesson-for-crime-only.json index 42a9269..9b5e582 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502.02-lesson-for-crime-only.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.02-lesson-for-crime-only.json @@ -1,17 +1,22 @@ { - "answers": [ - "No", - "Yes", - "It depends on the individual circumstances" - ], - "feedback": [ - "Well done! You've correctly identified that it is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.", - "I see you're a fan of sensational headlines and jumping to conclusions. Unfortunately, that's not based in reality", - "It looks like you're trying to take a balanced approach, but is not accurate to make this claim regardless of individual circumstances. Try again." - ], - "id": "forcrimeOnly", - "question": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity", - "text": "Bitcoin is a neutral tool for exchanging value, and it has no inherent beliefs, opinions, or values. Its meaning is determined by how it is used. It is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.\n\nCrime does not stem from access to tools, but rather from individual circumstances. If bitcoin is useful, it can be used by anyone, including criminals. If it is not useful, it cannot be used by anyone, including criminals.\n\nAs Parker Lewis stated, \"There is nothing inherent about the tools used to facilitate crimes that makes them criminal in themselves. Despite criminal use, no one is calling for the ban of roads, the internet, mail, etc.\"\n", - "title": "Bitcoin is for Criminals", - "type": "Text" + "forcrimeOnly": { + "title": "Bitcoin is for Criminals", + "questions": { + "forcrimeOnly": { + "answers": [ + "No", + "Yes", + "It depends on the individual circumstances" + ], + "feedback": [ + "Well done! You've correctly identified that it is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.", + "I see you're a fan of sensational headlines and jumping to conclusions. Unfortunately, that's not based in reality", + "It looks like you're trying to take a balanced approach, but is not accurate to make this claim regardless of individual circumstances. Try again." + ], + "question": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity", + "text": "Bitcoin is a neutral tool for exchanging value, and it has no inherent beliefs, opinions, or values. Its meaning is determined by how it is used. It is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.\n\nCrime does not stem from access to tools, but rather from individual circumstances. If bitcoin is useful, it can be used by anyone, including criminals. If it is not useful, it cannot be used by anyone, including criminals.\n\nAs Parker Lewis stated, \"There is nothing inherent about the tools used to facilitate crimes that makes them criminal in themselves. Despite criminal use, no one is calling for the ban of roads, the internet, mail, etc.\"\n", + "title": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity" + } + } + } } diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.03-lesson-ponzi-scheme.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.03-lesson-ponzi-scheme.json index 1bf992e..7823b2a 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502.03-lesson-ponzi-scheme.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.03-lesson-ponzi-scheme.json @@ -1,17 +1,22 @@ { - "answers": [ - "It is a form of money", - "It is a ponzi scheme", - "It is an open-source investment scheme" - ], - "feedback": [ - "Congratulations! You've earned some sats for correctly identifying that bitcoin is a form of money. Did you know that bitcoin was the first decentralized digital currency to be created, and it operates without a central bank or single administrator", - "Ah hah! You fell for the old ponzi scheme trick! Just kidding, but seriously, that's not what bitcoin is", - "Nope, sorry! Bitcoin isn't an open-source investment scheme. But hey, at least you're learning about it, right?" - ], - "id": "ponziScheme", - "question": "Which of the following statements is true about bitcoin", - "text": "Calling bitcoin a ponzi scheme shows a lack of understanding of both bitcoin and the definition of a ponzi scheme. A ponzi scheme involves promises of above-market returns to investors, but as a permissionless network, bitcoin does not have a central authority that can make such promises.\n\nAdditionally, bitcoin is not an investment scheme, it is a form of money. Unlike opaque investment opportunities that may be promoted to unsuspecting individuals, bitcoin's code is open-source and its supply can be independently verified at all times.\n", - "title": "Bitcoin is a Ponzi Scheme", - "type": "Text" + "ponziScheme": { + "title": "Bitcoin is a Ponzi Scheme", + "questions": { + "ponziScheme": { + "answers": [ + "It is a form of money", + "It is a ponzi scheme", + "It is an open-source investment scheme" + ], + "feedback": [ + "Congratulations! You've earned some sats for correctly identifying that bitcoin is a form of money. Did you know that bitcoin was the first decentralized digital currency to be created, and it operates without a central bank or single administrator", + "Ah hah! You fell for the old ponzi scheme trick! Just kidding, but seriously, that's not what bitcoin is", + "Nope, sorry! Bitcoin isn't an open-source investment scheme. But hey, at least you're learning about it, right?" + ], + "question": "Which of the following statements is true about bitcoin", + "text": "Calling bitcoin a ponzi scheme shows a lack of understanding of both bitcoin and the definition of a ponzi scheme. A ponzi scheme involves promises of above-market returns to investors, but as a permissionless network, bitcoin does not have a central authority that can make such promises.\n\nAdditionally, bitcoin is not an investment scheme, it is a form of money. Unlike opaque investment opportunities that may be promoted to unsuspecting individuals, bitcoin's code is open-source and its supply can be independently verified at all times.\n", + "title": "Which of the following statements is true about bitcoin" + } + } + } } diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.04-lesson-bitcoin-is-too-slow.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.04-lesson-bitcoin-is-too-slow.json index 55424ca..91fd837 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502.04-lesson-bitcoin-is-too-slow.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.04-lesson-bitcoin-is-too-slow.json @@ -1,17 +1,22 @@ { - "answers": [ - "Credit card payments go through multiple parties before reaching the merchant, while bitcoin payments go directly to the recipient without intermediaries", - "Credit card payments are final once they are confirmed, while bitcoin payments can be reversed", - "but at least you're learning about bitcoin" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin payment mastery. You seem to understand that bitcoin operates without a central bank or single administrator", - "Uh oh, looks like you might have gotten the wrong answer, but at least you're learning about bitcoin", - "Nope, sorry! Credit card payments are being censored all the time, but good try. Keep learning about bitcoin!" - ], - "id": "bitcoinisTooSlow", - "question": "What is the main difference between paying with a credit card and paying with bitcoin on-chain", - "text": "Paying with bitcoin is not the same as using a credit card to make a purchase. When you use a credit card, your payment goes through multiple parties before reaching the merchant's bank account after days or even weeks of processing.\n\nIn contrast, when you pay with bitcoin on the main blockchain, you are sending actual money directly to the recipient without any intermediaries. This means there is no risk of censorship and the transaction is considered final once it has been confirmed by six blocks on the blockchain.\n\nThe proper comparison would be between bitcoin base layer and the Fed as currency issuer and as a clearing mechanism.\n\nSince the advent of the Lightning Network, the \"Bitcoin is too slow\" criticism has largely fallen silent.\n", - "title": "Bitcoin is too slow", - "type": "Text" + "bitcoinisTooSlow": { + "title": "Bitcoin is too slow", + "questions": { + "bitcoinisTooSlow": { + "answers": [ + "Credit card payments go through multiple parties before reaching the merchant, while bitcoin payments go directly to the recipient without intermediaries", + "Credit card payments are final once they are confirmed, while bitcoin payments can be reversed", + "but at least you're learning about bitcoin" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin payment mastery. You seem to understand that bitcoin operates without a central bank or single administrator", + "Uh oh, looks like you might have gotten the wrong answer, but at least you're learning about bitcoin", + "Nope, sorry! Credit card payments are being censored all the time, but good try. Keep learning about bitcoin!" + ], + "question": "What is the main difference between paying with a credit card and paying with bitcoin on-chain", + "text": "Paying with bitcoin is not the same as using a credit card to make a purchase. When you use a credit card, your payment goes through multiple parties before reaching the merchant's bank account after days or even weeks of processing.\n\nIn contrast, when you pay with bitcoin on the main blockchain, you are sending actual money directly to the recipient without any intermediaries. This means there is no risk of censorship and the transaction is considered final once it has been confirmed by six blocks on the blockchain.\n\nThe proper comparison would be between bitcoin base layer and the Fed as currency issuer and as a clearing mechanism.\n\nSince the advent of the Lightning Network, the \"Bitcoin is too slow\" criticism has largely fallen silent.\n", + "title": "What is the main difference between paying with a credit card and paying with bitcoin on-chain" + } + } + } } diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.05-lesson-supply-limit.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.05-lesson-supply-limit.json index 4591d67..28886a1 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502.05-lesson-supply-limit.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.05-lesson-supply-limit.json @@ -1,17 +1,22 @@ { - "answers": [ - "Through a decentralized consensus process in which every transaction is independently validated by nodes on the network", - "Through a centralized process in which a single authority controls the issuance of new coins", - "By fixing the maximum supply at an arbitrary number, such as 100 million" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin supply mastery. Did you know that the decentralized nature of the bitcoin network allows for greater transparency, as every transaction is independently validated by nodes on the network", - "Nope, sorry! Bitcoin's supply isn't controlled by a central authority. Try again", - "Uh oh, looks like you might have gotten the wrong answer. The maximum supply of bitcoin is fixed at 21 million, not 100 million. But at least you're learning about bitcoin!" - ], - "id": "supplyLimit", - "question": "How is the supply of bitcoin protected from being corrupted", - "text": "Bitcoin's decentralized nature allows for its supply to be independently validated by each node on the network, ensuring that it cannot be corrupted. This is achieved through a consensus process in which every transaction that has been confirmed on the bitcoin network is independently validated.\n\nWhile anyone can fork the code and make changes to the rules, it is unlikely that this version of the code would be adopted by the wider network. The decentralized consensus process and the incorruptible supply of bitcoin are crucial to its appeal as a form of money.\n\nThe maximum supply of bitcoin is fixed at 21 million, and any attempt to increase this limit would require consensus from a significant portion of the bitcoin network, which is highly unlikely to happen.\n", - "title": "Bitcoin's Supply Limit Could Be Corrupted", - "type": "Text" + "supplyLimit": { + "title": "Bitcoin's Supply Limit Could Be Corrupted", + "questions": { + "supplyLimit": { + "answers": [ + "Through a decentralized consensus process in which every transaction is independently validated by nodes on the network", + "Through a centralized process in which a single authority controls the issuance of new coins", + "By fixing the maximum supply at an arbitrary number, such as 100 million" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin supply mastery. Did you know that the decentralized nature of the bitcoin network allows for greater transparency, as every transaction is independently validated by nodes on the network", + "Nope, sorry! Bitcoin's supply isn't controlled by a central authority. Try again", + "Uh oh, looks like you might have gotten the wrong answer. The maximum supply of bitcoin is fixed at 21 million, not 100 million. But at least you're learning about bitcoin!" + ], + "question": "How is the supply of bitcoin protected from being corrupted", + "text": "Bitcoin's decentralized nature allows for its supply to be independently validated by each node on the network, ensuring that it cannot be corrupted. This is achieved through a consensus process in which every transaction that has been confirmed on the bitcoin network is independently validated.\n\nWhile anyone can fork the code and make changes to the rules, it is unlikely that this version of the code would be adopted by the wider network. The decentralized consensus process and the incorruptible supply of bitcoin are crucial to its appeal as a form of money.\n\nThe maximum supply of bitcoin is fixed at 21 million, and any attempt to increase this limit would require consensus from a significant portion of the bitcoin network, which is highly unlikely to happen.\n", + "title": "How is the supply of bitcoin protected from being corrupted" + } + } + } } diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.06-lesson-government-ban.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.06-lesson-government-ban.json index f01eb1a..34b5eb5 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502.06-lesson-government-ban.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.06-lesson-government-ban.json @@ -1,17 +1,22 @@ { - "answers": [ - "No, because the decentralized nature of the bitcoin network makes it difficult to enforce a ban", - "Yes, by preventing the generation of random numbers", - "Yes, by shutting down the internet" - ], - "feedback": [ - "Correct. The decentralized nature of the bitcoin network makes it difficult to enforce a ban", - "Nope, silly! While it is technically possible for governments to ban bitcoin, it would be nearly impossible to enforce such a ban. Try again", - "Uh oh, looks like you might have gotten the wrong answer. Shutting down the internet wouldn't necessarily stop people from using bitcoin." - ], - "id": "governmentBan", - "question": "Can governments effectively ban bitcoin", - "text": "It is technically possible for governments to ban bitcoin, but enforcing such a ban would be difficult due to the decentralized nature of the bitcoin network.\n\nBitcoin relies on private keys, which are simply random numbers, to control access to transactions recorded on the blockchain. These private keys can be generated and stored anywhere, making them largely undectectable.\n\nAdditionally, the infrastructure required to access the bitcoin network is relatively simple and widely available, making it easy for people to trustlessly verify transactions.\n\nAs Saifedean Ammous said, \"Banning bitcoin is not much different from trying to ban math. It will just prove its utility & drive more people to it.\"\n", - "title": "Governments Will Ban Bitcoin", - "type": "Text" + "governmentBan": { + "title": "Governments Will Ban Bitcoin", + "questions": { + "governmentBan": { + "answers": [ + "No, because the decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Yes, by preventing the generation of random numbers", + "Yes, by shutting down the internet" + ], + "feedback": [ + "Correct. The decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Nope, silly! While it is technically possible for governments to ban bitcoin, it would be nearly impossible to enforce such a ban. Try again", + "Uh oh, looks like you might have gotten the wrong answer. Shutting down the internet wouldn't necessarily stop people from using bitcoin." + ], + "question": "Can governments effectively ban bitcoin", + "text": "It is technically possible for governments to ban bitcoin, but enforcing such a ban would be difficult due to the decentralized nature of the bitcoin network.\n\nBitcoin relies on private keys, which are simply random numbers, to control access to transactions recorded on the blockchain. These private keys can be generated and stored anywhere, making them largely undectectable.\n\nAdditionally, the infrastructure required to access the bitcoin network is relatively simple and widely available, making it easy for people to trustlessly verify transactions.\n\nAs Saifedean Ammous said, \"Banning bitcoin is not much different from trying to ban math. It will just prove its utility & drive more people to it.\"\n", + "title": "Can governments effectively ban bitcoin" + } + } + } } diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json index 40f5072..7b97371 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json @@ -1,110 +1,134 @@ -{ - "content": [ - { - "answers": [ - "Yes, but these wallets belong to exchanges that have millions of customers", - "Yes, and these wallets belong to individuals who have hoarded large amounts of bitcoin", - "No, the vast majority of bitcoin is evenly distributed among a large number of users" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin wallet mastery. Did you know that it is generally considered best practice to keep bitcoin in a self-hosted wallet for security and privacy reasons", - "Nope, sorry! While it is technically true that a small number of wallets hold the majority of all bitcoin, these wallets don't necessarily belong to individuals who have hoarded large amounts of bitcoin. Keep learning about bitcoin", - "Uh oh, looks like you might have gotten the wrong answer. The distribution of bitcoin among users is not necessarily even. But at least you're learning about bitcoin!" - ], - "id": "concentratedOwnership", - "question": "Is it true that a small number of wallets hold the majority of all bitcoin", - "text": "It is often said that a small number of wallets hold the majority of all bitcoin. While this is technically true, it is important to note that these wallets are typically owned by exchanges that have millions of customers.\n\nMany people choose to leave their bitcoin on an exchange, but it is generally considered best practice to keep bitcoin in a personal wallet for security and privacy reasons.\n\nIt is also worth noting that a single bitcoin address can contain bitcoin belonging to multiple users, and a single user can control multiple wallets. To maintain privacy, it is recommended to generate a new address for each receiving transaction instead of reusing the same address.\n", +[ + { + "concentratedOwnership": { "title": "Bitcoin Ownership Is Concentrated on a Few Users", - "type": "Text" - }, - { - "answers": [ - "No, because they have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain", - "Yes, because they have a majority of the hashing power", - "Yes, but only if they are acting in their own self-interest" - ], - "feedback": [ - "Yep, that's right. Did you know that the decentralized nature of the bitcoin network ensures that no single entity, including mining pools, can disrupt the network or censor transactions", - "Nope, sorry! While mining pools do have a significant amount of hashing power, individual miners are extremely mobile and can trivially direct their hashrate to an honest mining pool", - "Incorrect. While it is true that mining pools have an incentive to act in their own self-interest, this does not mean that they can disrupt the bitcoin network or censor transactions." - ], - "id": "centralizedMining", - "question": "Can mining pools disrupt the bitcoin network or censor transactions", - "text": "Some people believe that mining pools, which are groups of miners that work together to increase their chances of finding a block, could potentially disrupt the bitcoin network or censor transactions.\n\nHowever, this concern stems from a lack of understanding of the incentives of miners and their role in the network. In reality, miners have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain, as their own profits depend on it.\n\nAs Jimmy Song said, \"A majority of hashing power can't: take coins you already possess away, change the rules of bitcoin, or hurt you without hurting themselves.\"\n", + "questions": { + "concentratedOwnership": { + "answers": [ + "Yes, but these wallets belong to exchanges that have millions of customers", + "Yes, and these wallets belong to individuals who have hoarded large amounts of bitcoin", + "No, the vast majority of bitcoin is evenly distributed among a large number of users" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin wallet mastery. Did you know that it is generally considered best practice to keep bitcoin in a self-hosted wallet for security and privacy reasons", + "Nope, sorry! While it is technically true that a small number of wallets hold the majority of all bitcoin, these wallets don't necessarily belong to individuals who have hoarded large amounts of bitcoin. Keep learning about bitcoin", + "Uh oh, looks like you might have gotten the wrong answer. The distribution of bitcoin among users is not necessarily even. But at least you're learning about bitcoin!" + ], + "question": "Is it true that a small number of wallets hold the majority of all bitcoin", + "text": "It is often said that a small number of wallets hold the majority of all bitcoin. While this is technically true, it is important to note that these wallets are typically owned by exchanges that have millions of customers.\n\nMany people choose to leave their bitcoin on an exchange, but it is generally considered best practice to keep bitcoin in a personal wallet for security and privacy reasons.\n\nIt is also worth noting that a single bitcoin address can contain bitcoin belonging to multiple users, and a single user can control multiple wallets. To maintain privacy, it is recommended to generate a new address for each receiving transaction instead of reusing the same address.\n", + "title": "Is it true that a small number of wallets hold the majority of all bitcoin" + } + } + } + }, + { + "centralizedMining": { "title": "Bitcoin Mining Is Centralized", - "type": "Text" - }, - { - "answers": [ - "By comparing the entire market capitalization of bitcoin to that of other asset classes", - "By comparing the unit price of one bitcoin to the unit price of another asset, such as gold", - "By consulting a crystal ball and going with your gut feeling" - ], - "feedback": [ - "Congratulations, you're on the right track! It's important to consider the entire market cap of bitcoin when comparing it to other assets. Did you know that the total market cap of bitcoin reached over $1 trillion in 2021", - "Uh oh, it looks like you might have fallen for the unit bias trap! Better luck next time", - "Sorry, consulting a crystal ball might work for predicting the weather, but it's not a reliable way to assess the value of bitcoin. Better luck next time!" - ], - "id": "tooExpensive", - "question": "How can you accurately compare the value of bitcoin to other assets", - "text": "One common misconception about bitcoin is that it is too expensive to purchase.\n\nHowever, this belief is based on unit bias, as it is more accurate to compare the entire market capitalization of bitcoin to other assets rather than just the unit price of a single bitcoin.\n\nIt's also worth noting that a single bitcoin can be divided into 100 million smaller units called satoshis. As the saying goes, \"you can buy a fraction of a bitcoin!\"\n", + "questions": { + "centralizedMining": { + "answers": [ + "No, because they have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain", + "Yes, because they have a majority of the hashing power", + "Yes, but only if they are acting in their own self-interest" + ], + "feedback": [ + "Yep, that's right. Did you know that the decentralized nature of the bitcoin network ensures that no single entity, including mining pools, can disrupt the network or censor transactions", + "Nope, sorry! While mining pools do have a significant amount of hashing power, individual miners are extremely mobile and can trivially direct their hashrate to an honest mining pool", + "Incorrect. While it is true that mining pools have an incentive to act in their own self-interest, this does not mean that they can disrupt the bitcoin network or censor transactions." + ], + "question": "Can mining pools disrupt the bitcoin network or censor transactions", + "text": "Some people believe that mining pools, which are groups of miners that work together to increase their chances of finding a block, could potentially disrupt the bitcoin network or censor transactions.\n\nHowever, this concern stems from a lack of understanding of the incentives of miners and their role in the network. In reality, miners have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain, as their own profits depend on it.\n\nAs Jimmy Song said, \"A majority of hashing power can't: take coins you already possess away, change the rules of bitcoin, or hurt you without hurting themselves.\"\n", + "title": "Can mining pools disrupt the bitcoin network or censor transactions" + } + } + } + }, + { + "tooExpensive": { "title": "Bitcoin is too expensive", - "type": "Text" - }, - { - "answers": [ - "The efficiency and reliability of the bitcoin network as a settlement layer", - "The use of secondary layers such as lightning, liquid, or federated side-chains for smaller transactions", - "The fact that bitcoin is still a relatively new technology and has not yet reached its full potential" - ], - "feedback": [ - "Congratulations, you've hit the nail on the head! The efficiency and reliability of the bitcoin network certainly play a role in keeping transaction fees low. Did you know that the bitcoin network can process up to 7 transactions per second, making it faster than some traditional payment systems", - "Nice try, but it looks like you're missing a key piece of information. Try again", - "Sorry, but being a newer technology does not necessarily equate to lower transaction fees. Better luck next time!" - ], - "id": "prohibitivelyHigh", - "question": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems", - "text": "Another misconception about bitcoin is that its transaction costs are prohibitively high.\n\nHowever, confirmed transactions on the main layer of bitcoin provide a level of finality that is unmatched in the traditional financial system. While it is true that transaction fees may occasionally spike due to the limited capacity of each block, the bitcoin network remains an efficient and reliable settlement layer for high-value transactions.\n\nIn fact, according to Saifedean Ammous, \"between October 2010 and July 2021, the average daily transaction fees came up to around 0.02% of the value of the transactions.\"\n\nIn addition, smaller transactions, including microtransactions, are often migrated to secondary layers such as lightning, liquid, or federated side-chains where fees are significantly lower than those offered by retail banks.\n", + "questions": { + "tooExpensive": { + "answers": [ + "By comparing the entire market capitalization of bitcoin to that of other asset classes", + "By comparing the unit price of one bitcoin to the unit price of another asset, such as gold", + "By consulting a crystal ball and going with your gut feeling" + ], + "feedback": [ + "Congratulations, you're on the right track! It's important to consider the entire market cap of bitcoin when comparing it to other assets. Did you know that the total market cap of bitcoin reached over $1 trillion in 2021", + "Uh oh, it looks like you might have fallen for the unit bias trap! Better luck next time", + "Sorry, consulting a crystal ball might work for predicting the weather, but it's not a reliable way to assess the value of bitcoin. Better luck next time!" + ], + "question": "How can you accurately compare the value of bitcoin to other assets", + "text": "One common misconception about bitcoin is that it is too expensive to purchase.\n\nHowever, this belief is based on unit bias, as it is more accurate to compare the entire market capitalization of bitcoin to other assets rather than just the unit price of a single bitcoin.\n\nIt's also worth noting that a single bitcoin can be divided into 100 million smaller units called satoshis. As the saying goes, \"you can buy a fraction of a bitcoin!\"\n", + "title": "How can you accurately compare the value of bitcoin to other assets" + } + } + } + }, + { + "prohibitivelyHigh": { "title": "Bitcoin transaction costs are prohibitively high", - "type": "Text" - }, - { - "answers": [ - "No, holding bitcoin is a way to hedge against future uncertainty and does not necessarily mean it is not being used", - "Yes, holding bitcoin is the same thing as hoarding bitcoin", - "It depends on the individual's intentions and financial goals" - ], - "feedback": [ - "Congratulations, you're on the right track! As Pierre Rochard pointed out, 'all bitcoin are always held by someone, payments only change who is holding it.' Well done", - "Uh oh, it looks like you might have fallen for the hoarding misconception! Holding bitcoin is a common way to hedge against future uncertainty and does not necessarily mean it is not being used", - "Sorry, but the distinction between holding and hoarding bitcoin is not dependent on an individual's intentions and financial goals. Better luck next time!" - ], - "id": "willBeHoarded", - "question": "Is holding bitcoin the same thing as hoarding bitcoin", - "text": "There is a common belief that the fixed supply of bitcoin incentivizes hoarding, or the act of holding onto bitcoin rather than spending it in the economy.\n\nHowever, this logic has a few flaws. First, saving, or the act of setting aside income for future use, is often conflated with hoarding. In fact, saving is a necessary precursor to significant investment and can be seen as a responsible financial practice.\n\nSecond, holding onto bitcoin, or any form of money, is a common way to hedge against future uncertainty and does not necessarily mean that it is not being used.\n\nAs Pierre Rochard pointed out, \"all bitcoin are always held by someone, payments only change who is holding it.\" In other words, the act of holding bitcoin is itself a use of bitcoin.\n", + "questions": { + "prohibitivelyHigh": { + "answers": [ + "The efficiency and reliability of the bitcoin network as a settlement layer", + "The use of secondary layers such as lightning, liquid, or federated side-chains for smaller transactions", + "The fact that bitcoin is still a relatively new technology and has not yet reached its full potential" + ], + "feedback": [ + "Congratulations, you've hit the nail on the head! The efficiency and reliability of the bitcoin network certainly play a role in keeping transaction fees low. Did you know that the bitcoin network can process up to 7 transactions per second, making it faster than some traditional payment systems", + "Nice try, but it looks like you're missing a key piece of information. Try again", + "Sorry, but being a newer technology does not necessarily equate to lower transaction fees. Better luck next time!" + ], + "question": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems", + "text": "Another misconception about bitcoin is that its transaction costs are prohibitively high.\n\nHowever, confirmed transactions on the main layer of bitcoin provide a level of finality that is unmatched in the traditional financial system. While it is true that transaction fees may occasionally spike due to the limited capacity of each block, the bitcoin network remains an efficient and reliable settlement layer for high-value transactions.\n\nIn fact, according to Saifedean Ammous, \"between October 2010 and July 2021, the average daily transaction fees came up to around 0.02% of the value of the transactions.\"\n\nIn addition, smaller transactions, including microtransactions, are often migrated to secondary layers such as lightning, liquid, or federated side-chains where fees are significantly lower than those offered by retail banks.\n", + "title": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems" + } + } + } + }, + { + "willBeHoarded": { "title": "The Misconception of Bitcoin Hoarding", - "type": "Text" - }, - { - "answers": [ - "The code is heavily scrutinized and rigorously developed, ensuring its security and transparency", - "The fact that it is open source allows for a meritocracy and encourages the \"hive mind\" to build solutions", - "It is backed by a large and influential group of investors" - ], - "feedback": [ - "That's exactly right! The code of bitcoin is indeed heavily scrutinized and rigorously developed, which adds to its value. In fact, @BTCSchellingPt noted that Bitcoin Core is probably one of the most heavily scrutinized code bases in the world", - "Nice try, but the value of bitcoin lies not only in its code but also in the community and infrastructure surrounding it. Better luck next time", - "Sorry, the value of bitcoin is not solely determined by the backing of a group of investors. Better luck next time!" - ], - "id": "canBeDuplicated", - "question": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone", - "text": "One argument against the value of bitcoin is that it is not scarce because there are thousands of other cryptocurrencies available and because anyone can copy the code and create their own version.\n\nHowever, this overlooks the fact that bitcoin is more than just a piece of code. It is an open source protocol for transferring value that attracts people and resources due to its transparency and rigorous development process.\n\nAs @BTCSchellingPt noted, \"open source is very much a meritocracy. You've got the hive mind building solutions. You get all that scrutiny and that comes back to security. Bitcoin Core is probably one of the most heavily scrutinized code bases in the world.\"\n\nIn other words, the value of bitcoin lies not only in its code, but also in the community and infrastructure that surrounds it.\n", + "questions": { + "willBeHoarded": { + "answers": [ + "No, holding bitcoin is a way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Yes, holding bitcoin is the same thing as hoarding bitcoin", + "It depends on the individual's intentions and financial goals" + ], + "feedback": [ + "Congratulations, you're on the right track! As Pierre Rochard pointed out, 'all bitcoin are always held by someone, payments only change who is holding it.' Well done", + "Uh oh, it looks like you might have fallen for the hoarding misconception! Holding bitcoin is a common way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Sorry, but the distinction between holding and hoarding bitcoin is not dependent on an individual's intentions and financial goals. Better luck next time!" + ], + "question": "Is holding bitcoin the same thing as hoarding bitcoin", + "text": "There is a common belief that the fixed supply of bitcoin incentivizes hoarding, or the act of holding onto bitcoin rather than spending it in the economy.\n\nHowever, this logic has a few flaws. First, saving, or the act of setting aside income for future use, is often conflated with hoarding. In fact, saving is a necessary precursor to significant investment and can be seen as a responsible financial practice.\n\nSecond, holding onto bitcoin, or any form of money, is a common way to hedge against future uncertainty and does not necessarily mean that it is not being used.\n\nAs Pierre Rochard pointed out, \"all bitcoin are always held by someone, payments only change who is holding it.\" In other words, the act of holding bitcoin is itself a use of bitcoin.\n", + "title": "Is holding bitcoin the same thing as hoarding bitcoin" + } + } + } + }, + { + "canBeDuplicated": { "title": "Bitcoin is not scarce because there are thousands of cryptocurrencies", - "type": "Text" + "questions": { + "canBeDuplicated": { + "answers": [ + "The code is heavily scrutinized and rigorously developed, ensuring its security and transparency", + "The fact that it is open source allows for a meritocracy and encourages the \"hive mind\" to build solutions", + "It is backed by a large and influential group of investors" + ], + "feedback": [ + "That's exactly right! The code of bitcoin is indeed heavily scrutinized and rigorously developed, which adds to its value. In fact, @BTCSchellingPt noted that Bitcoin Core is probably one of the most heavily scrutinized code bases in the world", + "Nice try, but the value of bitcoin lies not only in its code but also in the community and infrastructure surrounding it. Better luck next time", + "Sorry, the value of bitcoin is not solely determined by the backing of a group of investors. Better luck next time!" + ], + "question": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone", + "text": "One argument against the value of bitcoin is that it is not scarce because there are thousands of other cryptocurrencies available and because anyone can copy the code and create their own version.\n\nHowever, this overlooks the fact that bitcoin is more than just a piece of code. It is an open source protocol for transferring value that attracts people and resources due to its transparency and rigorous development process.\n\nAs @BTCSchellingPt noted, \"open source is very much a meritocracy. You've got the hive mind building solutions. You get all that scrutiny and that comes back to security. Bitcoin Core is probably one of the most heavily scrutinized code bases in the world.\"\n\nIn other words, the value of bitcoin lies not only in its code, but also in the community and infrastructure that surrounds it.\n", + "title": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone" + } + } } - ], - "meta": { - "id": "BitcoinCriticisms&FallaciesIII", - "title": "Bitcoin Criticisms & Fallacies III" } -} +] diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503-es-combined.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503-es-combined.json deleted file mode 100644 index 6710777..0000000 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503-es-combined.json +++ /dev/null @@ -1,110 +0,0 @@ -{ - "content": [ - { - "answers": [ - "S\u00ed, pero estas billeteras pertenecen a intercambios que tienen millones de clientes.", - "S\u00ed, y estas billeteras pertenecen a personas que han acumulado grandes cantidades de bitcoins.", - "No, la gran mayor\u00eda de bitcoins se distribuye uniformemente entre una gran cantidad de usuarios" - ], - "feedback": [ - "\u00a1Felicidades! Has desbloqueado el m\u00e1ximo dominio de la billetera bitcoin. \u00bfSab\u00eda que generalmente se considera una buena pr\u00e1ctica mantener bitcoins en una billetera autohospedada por razones de seguridad y privacidad?", - "\u00a1No, lo siento! Si bien es t\u00e9cnicamente cierto que una peque\u00f1a cantidad de billeteras contienen la mayor parte de todos los bitcoins, estas billeteras no necesariamente pertenecen a personas que han acumulado grandes cantidades de bitcoins. Sigue aprendiendo sobre bitcoin", - "Oh oh, parece que es posible que hayas obtenido la respuesta incorrecta. La distribuci\u00f3n de bitcoin entre los usuarios no es necesariamente pareja. \u00a1Pero al menos est\u00e1s aprendiendo sobre bitcoin!" - ], - "id": "propiedad concentrada", - "question": "\u00bfEs cierto que una peque\u00f1a cantidad de billeteras contienen la mayor parte de todos los bitcoins?", - "text": "A menudo se dice que una peque\u00f1a cantidad de billeteras contienen la mayor parte de todos los bitcoins. Si bien esto es t\u00e9cnicamente cierto, es importante tener en cuenta que estas carteras suelen ser propiedad de intercambios que tienen millones de clientes.\n\nMuchas personas optan por dejar sus bitcoins en un intercambio, pero generalmente se considera una mejor pr\u00e1ctica mantener bitcoins en una billetera personal por razones de seguridad y privacidad.\n\nTambi\u00e9n vale la pena se\u00f1alar que una sola direcci\u00f3n de bitcoin puede contener bitcoins que pertenecen a m\u00faltiples usuarios, y un solo usuario puede controlar m\u00faltiples billeteras. Para mantener la privacidad, se recomienda generar una nueva direcci\u00f3n para cada transacci\u00f3n de recepci\u00f3n en lugar de reutilizar la misma direcci\u00f3n.\n", - "title": "La propiedad de Bitcoin se concentra en unos pocos usuarios", - "type": "Texto" - }, - { - "answers": [ - "No, porque tienen un fuerte incentivo para seguir las reglas de la red y mantener la integridad de la cadena de bloques.", - "S\u00ed, porque tienen la mayor\u00eda del poder hash.", - "S\u00ed, pero s\u00f3lo si act\u00faan por su propio inter\u00e9s." - ], - "feedback": [ - "S\u00ed, eso es correcto. \u00bfSab\u00edas que la naturaleza descentralizada de la red bitcoin garantiza que ninguna entidad, incluidos los grupos de miner\u00eda, pueda interrumpir la red o censurar las transacciones?", - "\u00a1No, lo siento! Si bien los grupos de miner\u00eda tienen una cantidad significativa de poder de hash, los mineros individuales son extremadamente m\u00f3viles y pueden dirigir trivialmente su tasa de hash a un grupo de miner\u00eda honesto.", - "Incorrecto. Si bien es cierto que los pools de miner\u00eda tienen un incentivo para actuar en su propio inter\u00e9s, esto no significa que puedan perturbar la red bitcoin o censurar las transacciones." - ], - "id": "Miner\u00eda centralizada", - "question": "\u00bfPueden los pools de miner\u00eda alterar la red bitcoin o censurar las transacciones?", - "text": "Algunas personas creen que los pools de miner\u00eda, que son grupos de mineros que trabajan juntos para aumentar sus posibilidades de encontrar un bloque, podr\u00edan potencialmente alterar la red bitcoin o censurar las transacciones.\n\nSin embargo, esta preocupaci\u00f3n surge de una falta de comprensi\u00f3n de los incentivos de los mineros y su papel en la red. En realidad, los mineros tienen un fuerte incentivo para seguir las reglas de la red y mantener la integridad de la cadena de bloques, ya que sus propios beneficios dependen de ello.\n\nComo dijo Jimmy Song: \"La mayor\u00eda del poder de hash no puede: quitarle las monedas que ya posee, cambiar las reglas de bitcoin o lastimarlo sin lastimarse a s\u00ed mismo\".\n", - "title": "La miner\u00eda de Bitcoin est\u00e1 centralizada", - "type": "Texto" - }, - { - "answers": [ - "Comparando toda la capitalizaci\u00f3n de mercado de bitcoin con la de otras clases de activos", - "Comparando el precio unitario de un bitcoin con el precio unitario de otro activo, como el oro.", - "Consultando una bola de cristal y siguiendo tu instinto" - ], - "feedback": [ - "\u00a1Felicitaciones, est\u00e1s en el camino correcto! Es importante considerar la capitalizaci\u00f3n de mercado total de bitcoin al compararlo con otros activos. \u00bfSab\u00edas que la capitalizaci\u00f3n de mercado total de bitcoin alcanz\u00f3 m\u00e1s de 1 bill\u00f3n de d\u00f3lares en 2021?", - "\u00a1Oh, oh, parece que has ca\u00eddo en la trampa del sesgo unitario! Mejor suerte la pr\u00f3xima vez", - "Lo sentimos, consultar una bola de cristal podr\u00eda funcionar para predecir el clima, pero no es una forma confiable de evaluar el valor de bitcoin. \u00a1Mejor suerte la pr\u00f3xima vez!" - ], - "id": "muy caro", - "question": "\u00bfC\u00f3mo se puede comparar con precisi\u00f3n el valor de bitcoin con otros activos?", - "text": "Un error com\u00fan sobre bitcoin es que su compra es demasiado cara.\n\nSin embargo, esta creencia se basa en un sesgo unitario, ya que es m\u00e1s preciso comparar toda la capitalizaci\u00f3n de mercado de bitcoin con otros activos en lugar de solo el precio unitario de un solo bitcoin.\n\nTambi\u00e9n vale la pena se\u00f1alar que un solo bitcoin se puede dividir en 100 millones de unidades m\u00e1s peque\u00f1as llamadas satoshis. Como dice el refr\u00e1n, \"\u00a1puedes comprar una fracci\u00f3n de bitcoin!\"\n", - "title": "Bitcoin es demasiado caro", - "type": "Texto" - }, - { - "answers": [ - "La eficiencia y confiabilidad de la red bitcoin como capa de liquidaci\u00f3n", - "El uso de capas secundarias como cadenas laterales rel\u00e1mpago, l\u00edquidas o federadas para transacciones m\u00e1s peque\u00f1as.", - "El hecho de que bitcoin sea todav\u00eda una tecnolog\u00eda relativamente nueva y a\u00fan no haya alcanzado su m\u00e1ximo potencial" - ], - "feedback": [ - "\u00a1Enhorabuena, has dado en el clavo! La eficiencia y confiabilidad de la red bitcoin ciertamente desempe\u00f1an un papel a la hora de mantener bajas las tarifas de transacci\u00f3n. \u00bfSab\u00edas que la red bitcoin puede procesar hasta 7 transacciones por segundo, lo que la hace m\u00e1s r\u00e1pida que algunos sistemas de pago tradicionales?", - "Buen intento, pero parece que te falta informaci\u00f3n clave. Intentar otra vez", - "Lo sentimos, pero ser una tecnolog\u00eda m\u00e1s nueva no necesariamente equivale a tarifas de transacci\u00f3n m\u00e1s bajas. \u00a1Mejor suerte la pr\u00f3xima vez!" - ], - "id": "prohibitivamente alto", - "question": "\u00bfCu\u00e1l es la raz\u00f3n principal por la que las tarifas de transacci\u00f3n en la capa principal de bitcoin siguen siendo relativamente bajas en comparaci\u00f3n con los sistemas financieros tradicionales?", - "text": "Otra idea err\u00f3nea sobre bitcoin es que sus costos de transacci\u00f3n son prohibitivamente altos.\n\nSin embargo, las transacciones confirmadas en la capa principal de bitcoin proporcionan un nivel de finalidad incomparable en el sistema financiero tradicional. Si bien es cierto que las tarifas de transacci\u00f3n pueden aumentar ocasionalmente debido a la capacidad limitada de cada bloque, la red bitcoin sigue siendo una capa de liquidaci\u00f3n eficiente y confiable para transacciones de alto valor.\n\nDe hecho, seg\u00fan Saifedean Ammous, \"entre octubre de 2010 y julio de 2021, las tarifas de transacci\u00f3n diarias promedio ascendieron a alrededor del 0,02% del valor de las transacciones\".\n\nAdem\u00e1s, las transacciones m\u00e1s peque\u00f1as, incluidas las microtransacciones, a menudo se migran a capas secundarias, como cadenas laterales rel\u00e1mpago, l\u00edquidas o federadas, donde las tarifas son significativamente m\u00e1s bajas que las ofrecidas por los bancos minoristas.\n", - "title": "Los costos de transacci\u00f3n de Bitcoin son prohibitivamente altos", - "type": "Texto" - }, - { - "answers": [ - "No, tener bitcoins es una forma de protegerse contra la incertidumbre futura y no significa necesariamente que no se est\u00e9n utilizando.", - "S\u00ed, tener bitcoins es lo mismo que acumular bitcoins", - "Depende de las intenciones y objetivos financieros del individuo." - ], - "feedback": [ - "\u00a1Felicitaciones, est\u00e1s en el camino correcto! Como se\u00f1al\u00f3 Pierre Rochard, \"todos los bitcoins siempre est\u00e1n en manos de alguien, los pagos s\u00f3lo cambian qui\u00e9n los posee\". Bien hecho", - "\u00a1Oh, oh, parece que has ca\u00eddo en la idea err\u00f3nea del acaparamiento! Tener bitcoins es una forma com\u00fan de protegerse contra la incertidumbre futura y no significa necesariamente que no se est\u00e9n utilizando.", - "Lo sentimos, pero la distinci\u00f3n entre poseer y acaparar bitcoins no depende de las intenciones ni de los objetivos financieros de un individuo. \u00a1Mejor suerte la pr\u00f3xima vez!" - ], - "id": "ser\u00e1 acaparado", - "question": "\u00bfTener bitcoins es lo mismo que acumular bitcoins?", - "text": "Existe una creencia com\u00fan de que el suministro fijo de bitcoins incentiva el acaparamiento, o el acto de retener bitcoins en lugar de gastarlos en la econom\u00eda.\n\nSin embargo, esta l\u00f3gica tiene algunos defectos. En primer lugar, el ahorro, o el acto de reservar ingresos para uso futuro, a menudo se confunde con el acaparamiento. De hecho, el ahorro es un precursor necesario de una inversi\u00f3n significativa y puede verse como una pr\u00e1ctica financiera responsable.\n\nEn segundo lugar, conservar bitcoins, o cualquier forma de dinero, es una forma com\u00fan de protegerse contra la incertidumbre futura y no significa necesariamente que no se est\u00e9 utilizando.\n\nComo se\u00f1al\u00f3 Pierre Rochard, \"todos los bitcoins siempre est\u00e1n en manos de alguien, los pagos s\u00f3lo cambian qui\u00e9n los posee\". En otras palabras, el acto de poseer bitcoins es en s\u00ed mismo un uso de bitcoins.\n", - "title": "La idea err\u00f3nea del acaparamiento de Bitcoin", - "type": "Texto" - }, - { - "answers": [ - "El c\u00f3digo se analiza minuciosamente y se desarrolla rigurosamente, garantizando su seguridad y transparencia.", - "El hecho de que sea de c\u00f3digo abierto permite la meritocracia y anima a la \"mente colmena\" a crear soluciones.", - "Est\u00e1 respaldado por un grupo grande e influyente de inversores." - ], - "feedback": [ - "\u00a1Eso es exactamente correcto! De hecho, el c\u00f3digo de bitcoin est\u00e1 muy analizado y desarrollado rigurosamente, lo que aumenta su valor. De hecho, @BTCSchellingPt se\u00f1al\u00f3 que Bitcoin Core es probablemente una de las bases de c\u00f3digo m\u00e1s analizadas del mundo.", - "Buen intento, pero el valor de bitcoin no s\u00f3lo reside en su c\u00f3digo sino tambi\u00e9n en la comunidad y la infraestructura que lo rodea. Mejor suerte la pr\u00f3xima vez", - "Lo sentimos, el valor de bitcoin no est\u00e1 determinado \u00fanicamente por el respaldo de un grupo de inversores. \u00a1Mejor suerte la pr\u00f3xima vez!" - ], - "id": "se puede duplicar", - "question": "\u00bfCu\u00e1l es la raz\u00f3n principal por la que bitcoin se considera valioso a pesar de que cualquiera puede copiar su c\u00f3digo?", - "text": "Un argumento en contra del valor del bitcoin es que no es escaso porque hay miles de otras criptomonedas disponibles y porque cualquiera puede copiar el c\u00f3digo y crear su propia versi\u00f3n.\n\nSin embargo, esto pasa por alto el hecho de que bitcoin es m\u00e1s que un simple fragmento de c\u00f3digo. Es un protocolo de c\u00f3digo abierto para transferir valor que atrae personas y recursos por su transparencia y riguroso proceso de desarrollo.\n\nComo se\u00f1al\u00f3 @BTCSchellingPt, \"el c\u00f3digo abierto es en gran medida una meritocracia. Tienes las soluciones de construcci\u00f3n mental de la colmena. Obtienes todo ese escrutinio y eso vuelve a la seguridad. Bitcoin Core es probablemente una de las bases de c\u00f3digo m\u00e1s analizadas en el mundo. mundo.\"\n\nEn otras palabras, el valor de bitcoin no reside s\u00f3lo en su c\u00f3digo, sino tambi\u00e9n en la comunidad y la infraestructura que lo rodea.\n", - "title": "Bitcoin no escasea porque hay miles de criptomonedas", - "type": "Texto" - } - ], - "meta": { - "id": "BitcoinCr\u00edticas y falaciasIII", - "title": "Cr\u00edticas y falacias de Bitcoin III" - } -} \ No newline at end of file diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.01-lesson.concentrated-ownership.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.01-lesson.concentrated-ownership.json index 6ab6239..c328700 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503.01-lesson.concentrated-ownership.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.01-lesson.concentrated-ownership.json @@ -1,17 +1,22 @@ { - "answers": [ - "Yes, but these wallets belong to exchanges that have millions of customers", - "Yes, and these wallets belong to individuals who have hoarded large amounts of bitcoin", - "No, the vast majority of bitcoin is evenly distributed among a large number of users" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin wallet mastery. Did you know that it is generally considered best practice to keep bitcoin in a self-hosted wallet for security and privacy reasons", - "Nope, sorry! While it is technically true that a small number of wallets hold the majority of all bitcoin, these wallets don't necessarily belong to individuals who have hoarded large amounts of bitcoin. Keep learning about bitcoin", - "Uh oh, looks like you might have gotten the wrong answer. The distribution of bitcoin among users is not necessarily even. But at least you're learning about bitcoin!" - ], - "id": "concentratedOwnership", - "question": "Is it true that a small number of wallets hold the majority of all bitcoin", - "text": "It is often said that a small number of wallets hold the majority of all bitcoin. While this is technically true, it is important to note that these wallets are typically owned by exchanges that have millions of customers.\n\nMany people choose to leave their bitcoin on an exchange, but it is generally considered best practice to keep bitcoin in a personal wallet for security and privacy reasons.\n\nIt is also worth noting that a single bitcoin address can contain bitcoin belonging to multiple users, and a single user can control multiple wallets. To maintain privacy, it is recommended to generate a new address for each receiving transaction instead of reusing the same address.\n", - "title": "Bitcoin Ownership Is Concentrated on a Few Users", - "type": "Text" + "concentratedOwnership": { + "title": "Bitcoin Ownership Is Concentrated on a Few Users", + "questions": { + "concentratedOwnership": { + "answers": [ + "Yes, but these wallets belong to exchanges that have millions of customers", + "Yes, and these wallets belong to individuals who have hoarded large amounts of bitcoin", + "No, the vast majority of bitcoin is evenly distributed among a large number of users" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin wallet mastery. Did you know that it is generally considered best practice to keep bitcoin in a self-hosted wallet for security and privacy reasons", + "Nope, sorry! While it is technically true that a small number of wallets hold the majority of all bitcoin, these wallets don't necessarily belong to individuals who have hoarded large amounts of bitcoin. Keep learning about bitcoin", + "Uh oh, looks like you might have gotten the wrong answer. The distribution of bitcoin among users is not necessarily even. But at least you're learning about bitcoin!" + ], + "question": "Is it true that a small number of wallets hold the majority of all bitcoin", + "text": "It is often said that a small number of wallets hold the majority of all bitcoin. While this is technically true, it is important to note that these wallets are typically owned by exchanges that have millions of customers.\n\nMany people choose to leave their bitcoin on an exchange, but it is generally considered best practice to keep bitcoin in a personal wallet for security and privacy reasons.\n\nIt is also worth noting that a single bitcoin address can contain bitcoin belonging to multiple users, and a single user can control multiple wallets. To maintain privacy, it is recommended to generate a new address for each receiving transaction instead of reusing the same address.\n", + "title": "Is it true that a small number of wallets hold the majority of all bitcoin" + } + } + } } diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.02-lesson-centralized-mining.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.02-lesson-centralized-mining.json index 4542844..ab7e1dd 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503.02-lesson-centralized-mining.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.02-lesson-centralized-mining.json @@ -1,17 +1,22 @@ { - "answers": [ - "No, because they have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain", - "Yes, because they have a majority of the hashing power", - "Yes, but only if they are acting in their own self-interest" - ], - "feedback": [ - "Yep, that's right. Did you know that the decentralized nature of the bitcoin network ensures that no single entity, including mining pools, can disrupt the network or censor transactions", - "Nope, sorry! While mining pools do have a significant amount of hashing power, individual miners are extremely mobile and can trivially direct their hashrate to an honest mining pool", - "Incorrect. While it is true that mining pools have an incentive to act in their own self-interest, this does not mean that they can disrupt the bitcoin network or censor transactions." - ], - "id": "centralizedMining", - "question": "Can mining pools disrupt the bitcoin network or censor transactions", - "text": "Some people believe that mining pools, which are groups of miners that work together to increase their chances of finding a block, could potentially disrupt the bitcoin network or censor transactions.\n\nHowever, this concern stems from a lack of understanding of the incentives of miners and their role in the network. In reality, miners have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain, as their own profits depend on it.\n\nAs Jimmy Song said, \"A majority of hashing power can't: take coins you already possess away, change the rules of bitcoin, or hurt you without hurting themselves.\"\n", - "title": "Bitcoin Mining Is Centralized", - "type": "Text" + "centralizedMining": { + "title": "Bitcoin Mining Is Centralized", + "questions": { + "centralizedMining": { + "answers": [ + "No, because they have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain", + "Yes, because they have a majority of the hashing power", + "Yes, but only if they are acting in their own self-interest" + ], + "feedback": [ + "Yep, that's right. Did you know that the decentralized nature of the bitcoin network ensures that no single entity, including mining pools, can disrupt the network or censor transactions", + "Nope, sorry! While mining pools do have a significant amount of hashing power, individual miners are extremely mobile and can trivially direct their hashrate to an honest mining pool", + "Incorrect. While it is true that mining pools have an incentive to act in their own self-interest, this does not mean that they can disrupt the bitcoin network or censor transactions." + ], + "question": "Can mining pools disrupt the bitcoin network or censor transactions", + "text": "Some people believe that mining pools, which are groups of miners that work together to increase their chances of finding a block, could potentially disrupt the bitcoin network or censor transactions.\n\nHowever, this concern stems from a lack of understanding of the incentives of miners and their role in the network. In reality, miners have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain, as their own profits depend on it.\n\nAs Jimmy Song said, \"A majority of hashing power can't: take coins you already possess away, change the rules of bitcoin, or hurt you without hurting themselves.\"\n", + "title": "Can mining pools disrupt the bitcoin network or censor transactions" + } + } + } } diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.03-lesson-too-expensive.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.03-lesson-too-expensive.json index 4a58f6d..567a114 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503.03-lesson-too-expensive.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.03-lesson-too-expensive.json @@ -1,17 +1,22 @@ { - "answers": [ - "By comparing the entire market capitalization of bitcoin to that of other asset classes", - "By comparing the unit price of one bitcoin to the unit price of another asset, such as gold", - "By consulting a crystal ball and going with your gut feeling" - ], - "feedback": [ - "Congratulations, you're on the right track! It's important to consider the entire market cap of bitcoin when comparing it to other assets. Did you know that the total market cap of bitcoin reached over $1 trillion in 2021", - "Uh oh, it looks like you might have fallen for the unit bias trap! Better luck next time", - "Sorry, consulting a crystal ball might work for predicting the weather, but it's not a reliable way to assess the value of bitcoin. Better luck next time!" - ], - "id": "tooExpensive", - "question": "How can you accurately compare the value of bitcoin to other assets", - "text": "One common misconception about bitcoin is that it is too expensive to purchase.\n\nHowever, this belief is based on unit bias, as it is more accurate to compare the entire market capitalization of bitcoin to other assets rather than just the unit price of a single bitcoin.\n\nIt's also worth noting that a single bitcoin can be divided into 100 million smaller units called satoshis. As the saying goes, \"you can buy a fraction of a bitcoin!\"\n", - "title": "Bitcoin is too expensive", - "type": "Text" + "tooExpensive": { + "title": "Bitcoin is too expensive", + "questions": { + "tooExpensive": { + "answers": [ + "By comparing the entire market capitalization of bitcoin to that of other asset classes", + "By comparing the unit price of one bitcoin to the unit price of another asset, such as gold", + "By consulting a crystal ball and going with your gut feeling" + ], + "feedback": [ + "Congratulations, you're on the right track! It's important to consider the entire market cap of bitcoin when comparing it to other assets. Did you know that the total market cap of bitcoin reached over $1 trillion in 2021", + "Uh oh, it looks like you might have fallen for the unit bias trap! Better luck next time", + "Sorry, consulting a crystal ball might work for predicting the weather, but it's not a reliable way to assess the value of bitcoin. Better luck next time!" + ], + "question": "How can you accurately compare the value of bitcoin to other assets", + "text": "One common misconception about bitcoin is that it is too expensive to purchase.\n\nHowever, this belief is based on unit bias, as it is more accurate to compare the entire market capitalization of bitcoin to other assets rather than just the unit price of a single bitcoin.\n\nIt's also worth noting that a single bitcoin can be divided into 100 million smaller units called satoshis. As the saying goes, \"you can buy a fraction of a bitcoin!\"\n", + "title": "How can you accurately compare the value of bitcoin to other assets" + } + } + } } diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.04-lesson-prohibitively-high.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.04-lesson-prohibitively-high.json index ade272f..7409d78 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503.04-lesson-prohibitively-high.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.04-lesson-prohibitively-high.json @@ -1,17 +1,22 @@ { - "answers": [ - "The efficiency and reliability of the bitcoin network as a settlement layer", - "The use of secondary layers such as lightning, liquid, or federated side-chains for smaller transactions", - "The fact that bitcoin is still a relatively new technology and has not yet reached its full potential" - ], - "feedback": [ - "Congratulations, you've hit the nail on the head! The efficiency and reliability of the bitcoin network certainly play a role in keeping transaction fees low. Did you know that the bitcoin network can process up to 7 transactions per second, making it faster than some traditional payment systems", - "Nice try, but it looks like you're missing a key piece of information. Try again", - "Sorry, but being a newer technology does not necessarily equate to lower transaction fees. Better luck next time!" - ], - "id": "prohibitivelyHigh", - "question": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems", - "text": "Another misconception about bitcoin is that its transaction costs are prohibitively high.\n\nHowever, confirmed transactions on the main layer of bitcoin provide a level of finality that is unmatched in the traditional financial system. While it is true that transaction fees may occasionally spike due to the limited capacity of each block, the bitcoin network remains an efficient and reliable settlement layer for high-value transactions.\n\nIn fact, according to Saifedean Ammous, \"between October 2010 and July 2021, the average daily transaction fees came up to around 0.02% of the value of the transactions.\"\n\nIn addition, smaller transactions, including microtransactions, are often migrated to secondary layers such as lightning, liquid, or federated side-chains where fees are significantly lower than those offered by retail banks.\n", - "title": "Bitcoin transaction costs are prohibitively high", - "type": "Text" + "prohibitivelyHigh": { + "title": "Bitcoin transaction costs are prohibitively high", + "questions": { + "prohibitivelyHigh": { + "answers": [ + "The efficiency and reliability of the bitcoin network as a settlement layer", + "The use of secondary layers such as lightning, liquid, or federated side-chains for smaller transactions", + "The fact that bitcoin is still a relatively new technology and has not yet reached its full potential" + ], + "feedback": [ + "Congratulations, you've hit the nail on the head! The efficiency and reliability of the bitcoin network certainly play a role in keeping transaction fees low. Did you know that the bitcoin network can process up to 7 transactions per second, making it faster than some traditional payment systems", + "Nice try, but it looks like you're missing a key piece of information. Try again", + "Sorry, but being a newer technology does not necessarily equate to lower transaction fees. Better luck next time!" + ], + "question": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems", + "text": "Another misconception about bitcoin is that its transaction costs are prohibitively high.\n\nHowever, confirmed transactions on the main layer of bitcoin provide a level of finality that is unmatched in the traditional financial system. While it is true that transaction fees may occasionally spike due to the limited capacity of each block, the bitcoin network remains an efficient and reliable settlement layer for high-value transactions.\n\nIn fact, according to Saifedean Ammous, \"between October 2010 and July 2021, the average daily transaction fees came up to around 0.02% of the value of the transactions.\"\n\nIn addition, smaller transactions, including microtransactions, are often migrated to secondary layers such as lightning, liquid, or federated side-chains where fees are significantly lower than those offered by retail banks.\n", + "title": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems" + } + } + } } diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.05-lesson-will-be-hoarded.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.05-lesson-will-be-hoarded.json index 7055e79..dd69aee 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503.05-lesson-will-be-hoarded.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.05-lesson-will-be-hoarded.json @@ -1,17 +1,22 @@ { - "answers": [ - "No, holding bitcoin is a way to hedge against future uncertainty and does not necessarily mean it is not being used", - "Yes, holding bitcoin is the same thing as hoarding bitcoin", - "It depends on the individual's intentions and financial goals" - ], - "feedback": [ - "Congratulations, you're on the right track! As Pierre Rochard pointed out, 'all bitcoin are always held by someone, payments only change who is holding it.' Well done", - "Uh oh, it looks like you might have fallen for the hoarding misconception! Holding bitcoin is a common way to hedge against future uncertainty and does not necessarily mean it is not being used", - "Sorry, but the distinction between holding and hoarding bitcoin is not dependent on an individual's intentions and financial goals. Better luck next time!" - ], - "id": "willBeHoarded", - "question": "Is holding bitcoin the same thing as hoarding bitcoin", - "text": "There is a common belief that the fixed supply of bitcoin incentivizes hoarding, or the act of holding onto bitcoin rather than spending it in the economy.\n\nHowever, this logic has a few flaws. First, saving, or the act of setting aside income for future use, is often conflated with hoarding. In fact, saving is a necessary precursor to significant investment and can be seen as a responsible financial practice.\n\nSecond, holding onto bitcoin, or any form of money, is a common way to hedge against future uncertainty and does not necessarily mean that it is not being used.\n\nAs Pierre Rochard pointed out, \"all bitcoin are always held by someone, payments only change who is holding it.\" In other words, the act of holding bitcoin is itself a use of bitcoin.\n", - "title": "The Misconception of Bitcoin Hoarding", - "type": "Text" + "willBeHoarded": { + "title": "The Misconception of Bitcoin Hoarding", + "questions": { + "willBeHoarded": { + "answers": [ + "No, holding bitcoin is a way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Yes, holding bitcoin is the same thing as hoarding bitcoin", + "It depends on the individual's intentions and financial goals" + ], + "feedback": [ + "Congratulations, you're on the right track! As Pierre Rochard pointed out, 'all bitcoin are always held by someone, payments only change who is holding it.' Well done", + "Uh oh, it looks like you might have fallen for the hoarding misconception! Holding bitcoin is a common way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Sorry, but the distinction between holding and hoarding bitcoin is not dependent on an individual's intentions and financial goals. Better luck next time!" + ], + "question": "Is holding bitcoin the same thing as hoarding bitcoin", + "text": "There is a common belief that the fixed supply of bitcoin incentivizes hoarding, or the act of holding onto bitcoin rather than spending it in the economy.\n\nHowever, this logic has a few flaws. First, saving, or the act of setting aside income for future use, is often conflated with hoarding. In fact, saving is a necessary precursor to significant investment and can be seen as a responsible financial practice.\n\nSecond, holding onto bitcoin, or any form of money, is a common way to hedge against future uncertainty and does not necessarily mean that it is not being used.\n\nAs Pierre Rochard pointed out, \"all bitcoin are always held by someone, payments only change who is holding it.\" In other words, the act of holding bitcoin is itself a use of bitcoin.\n", + "title": "Is holding bitcoin the same thing as hoarding bitcoin" + } + } + } } diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.06-lesson-can-be-duplicated.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.06-lesson-can-be-duplicated.json index ff9af29..ddcba1d 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503.06-lesson-can-be-duplicated.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.06-lesson-can-be-duplicated.json @@ -1,17 +1,22 @@ { - "answers": [ - "The code is heavily scrutinized and rigorously developed, ensuring its security and transparency", - "The fact that it is open source allows for a meritocracy and encourages the \"hive mind\" to build solutions", - "It is backed by a large and influential group of investors" - ], - "feedback": [ - "That's exactly right! The code of bitcoin is indeed heavily scrutinized and rigorously developed, which adds to its value. In fact, @BTCSchellingPt noted that Bitcoin Core is probably one of the most heavily scrutinized code bases in the world", - "Nice try, but the value of bitcoin lies not only in its code but also in the community and infrastructure surrounding it. Better luck next time", - "Sorry, the value of bitcoin is not solely determined by the backing of a group of investors. Better luck next time!" - ], - "id": "canBeDuplicated", - "question": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone", - "text": "One argument against the value of bitcoin is that it is not scarce because there are thousands of other cryptocurrencies available and because anyone can copy the code and create their own version.\n\nHowever, this overlooks the fact that bitcoin is more than just a piece of code. It is an open source protocol for transferring value that attracts people and resources due to its transparency and rigorous development process.\n\nAs @BTCSchellingPt noted, \"open source is very much a meritocracy. You've got the hive mind building solutions. You get all that scrutiny and that comes back to security. Bitcoin Core is probably one of the most heavily scrutinized code bases in the world.\"\n\nIn other words, the value of bitcoin lies not only in its code, but also in the community and infrastructure that surrounds it.\n", - "title": "Bitcoin is not scarce because there are thousands of cryptocurrencies", - "type": "Text" + "canBeDuplicated": { + "title": "Bitcoin is not scarce because there are thousands of cryptocurrencies", + "questions": { + "canBeDuplicated": { + "answers": [ + "The code is heavily scrutinized and rigorously developed, ensuring its security and transparency", + "The fact that it is open source allows for a meritocracy and encourages the \"hive mind\" to build solutions", + "It is backed by a large and influential group of investors" + ], + "feedback": [ + "That's exactly right! The code of bitcoin is indeed heavily scrutinized and rigorously developed, which adds to its value. In fact, @BTCSchellingPt noted that Bitcoin Core is probably one of the most heavily scrutinized code bases in the world", + "Nice try, but the value of bitcoin lies not only in its code but also in the community and infrastructure surrounding it. Better luck next time", + "Sorry, the value of bitcoin is not solely determined by the backing of a group of investors. Better luck next time!" + ], + "question": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone", + "text": "One argument against the value of bitcoin is that it is not scarce because there are thousands of other cryptocurrencies available and because anyone can copy the code and create their own version.\n\nHowever, this overlooks the fact that bitcoin is more than just a piece of code. It is an open source protocol for transferring value that attracts people and resources due to its transparency and rigorous development process.\n\nAs @BTCSchellingPt noted, \"open source is very much a meritocracy. You've got the hive mind building solutions. You get all that scrutiny and that comes back to security. Bitcoin Core is probably one of the most heavily scrutinized code bases in the world.\"\n\nIn other words, the value of bitcoin lies not only in its code, but also in the community and infrastructure that surrounds it.\n", + "title": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone" + } + } + } } diff --git a/chapter-601-bitcoin-and-economics-i/601-combined.json b/chapter-601-bitcoin-and-economics-i/601-combined.json index 3ce8ea5..acc9848 100644 --- a/chapter-601-bitcoin-and-economics-i/601-combined.json +++ b/chapter-601-bitcoin-and-economics-i/601-combined.json @@ -1,110 +1,134 @@ -{ - "content": [ - { - "answers": [ - "A resource that is limited in quantity or availability and can lead to competition for possession", - "A resource that is abundant and easy to come by", - "A resource that can only be obtained through time travel" - ], - "feedback": [ - "Remark:** Correct! Good job, you understood the concept of scarcity. Scarcity can lead to competition and can affect the value of goods and services in a free market", - "Wrong! Sorry to burst your bubble, but if something is easy to come by, it can't be scarce", - "Wrong! Time travel is a great idea for a sci-fi movie, but it doesn't have anything to do with scarce resources." - ], - "id": "scarcity", - "question": "What is a scarce resource", - "text": "When there are not enough resources to go around, people and organizations compete for them.\n\nThis competition is often reflected in the price of goods and services in a free market. If the demand for a particular resource increases faster than the supply, it can become scarce and more valuable.\n\nMoney is often used as a way to buy things because it is easy to trade and is valuable because it is scarce. Bitcoin is a digital form of money that has a fixed supply, which makes it rare and valuable.\n\nThe idea that there is never enough of something to go around is a basic principle of economics, but it is often ignored in political decisions.\n", +[ + { + "scarcity": { "title": "How limited resources are allocated and competed for", - "type": "Text" - }, - { - "answers": [ - "The difference in value between something's use as money and its value for its other uses", - "An extra fee added to the price of goods and services", - "A monetary premium has nothing to do with paying extra for things" - ], - "feedback": [ - "Congratulations! You know your stuff when it comes to monetary premiums. A monetary premium is the additional value that something can have when it is used as a substitute for money. Good job", - "Sorry, wrong answer! A monetary premium has nothing to do with paying extra for things", - "Nope! A monetary premium is not a discount, it's actually the opposite." - ], - "id": "monetaryPremium", - "question": "What is a monetary premium", - "text": "If the value of money is not based on its scarcity, it may not be as reliable as a way to store wealth. In this case, other things that are scarce, such as assets or resources, may become more valuable and be used as a substitute for money.\n\nThis additional value is known as a monetary premium. When the usual form of money is not working well, people may turn to other things that are rare or hard to obtain as a way to exchange value.\n\nSome historical forms of money had no other use or value besides being used as a way to trade for other things. The difference between the value of something as money and its value for its other uses is the monetary premium.\n", + "questions": { + "scarcity": { + "answers": [ + "A resource that is limited in quantity or availability and can lead to competition for possession", + "A resource that is abundant and easy to come by", + "A resource that can only be obtained through time travel" + ], + "feedback": [ + "Remark:** Correct! Good job, you understood the concept of scarcity. Scarcity can lead to competition and can affect the value of goods and services in a free market", + "Wrong! Sorry to burst your bubble, but if something is easy to come by, it can't be scarce", + "Wrong! Time travel is a great idea for a sci-fi movie, but it doesn't have anything to do with scarce resources." + ], + "question": "What is a scarce resource", + "text": "When there are not enough resources to go around, people and organizations compete for them.\n\nThis competition is often reflected in the price of goods and services in a free market. If the demand for a particular resource increases faster than the supply, it can become scarce and more valuable.\n\nMoney is often used as a way to buy things because it is easy to trade and is valuable because it is scarce. Bitcoin is a digital form of money that has a fixed supply, which makes it rare and valuable.\n\nThe idea that there is never enough of something to go around is a basic principle of economics, but it is often ignored in political decisions.\n", + "title": "What is a scarce resource" + } + } + } + }, + { + "monetaryPremium": { "title": "Monetary Premium", - "type": "Text" - }, - { - "answers": [ - "A law that explains how people tend to use different types of currency in different ways when they are in circulation together", - "A law that says people will always choose to spend the more valuable currency when given a choice", - "Gresham's Law actually explains the opposite behavior" - ], - "feedback": [ - "Good job, you understood Gresham's Law. This law explains how people tend to save the more valuable currency and spend the less valuable one when given the choice. Interesting fact: Gresham's Law can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver", - "Sorry, wrong answer! Gresham's Law actually explains the opposite behavior", - "Ha! That's a funny answer, but unfortunately it's not correct." - ], - "id": "greshamsLaw", - "question": "What is Gresham's Law", - "text": "Gresham's Law is a concept that explains how people tend to use different types of currency in different ways when they are in circulation together.\n\nIf two forms of currency are given equal value by a government or other authority, but one is made of a more valuable material, people will be more likely to save the more valuable currency and spend the less valuable one.\n\nThis can happen when a government debases its currency, or makes it worth less, by decreasing the amount of valuable material it contains. The result is that people lose trust in the debased currency and prefer to hold onto the more valuable one instead.\n\nThis principle can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver, if the supply of the currency is increased in a way that makes it worth less.\n\nIn recent years, the emergence of bitcoin as a digital currency has led to a trend of people saving in bitcoin and spending their traditional currency, or \"fiat,\" more quickly. This is because bitcoin is seen as having a higher long-term value and being more stable than fiat currencies.\n", + "questions": { + "monetaryPremium": { + "answers": [ + "The difference in value between something's use as money and its value for its other uses", + "An extra fee added to the price of goods and services", + "A monetary premium has nothing to do with paying extra for things" + ], + "feedback": [ + "Congratulations! You know your stuff when it comes to monetary premiums. A monetary premium is the additional value that something can have when it is used as a substitute for money. Good job", + "Sorry, wrong answer! A monetary premium has nothing to do with paying extra for things", + "Nope! A monetary premium is not a discount, it's actually the opposite." + ], + "question": "What is a monetary premium", + "text": "If the value of money is not based on its scarcity, it may not be as reliable as a way to store wealth. In this case, other things that are scarce, such as assets or resources, may become more valuable and be used as a substitute for money.\n\nThis additional value is known as a monetary premium. When the usual form of money is not working well, people may turn to other things that are rare or hard to obtain as a way to exchange value.\n\nSome historical forms of money had no other use or value besides being used as a way to trade for other things. The difference between the value of something as money and its value for its other uses is the monetary premium.\n", + "title": "What is a monetary premium" + } + } + } + }, + { + "greshamsLaw": { "title": "Gresham's Law", - "type": "Text" - }, - { - "answers": [ - "A law that discusses what might happen if people and businesses refuse to accept or use a lower quality form of currency", - "A law that says people will always choose the more valuable currency when given a choice", - "A law that says people will always choose the less valuable currency when given a choice" - ], - "feedback": [ - "Correct! Good job, you understood Thier's Law. This law discusses what might happen if people and businesses refuse to accept a lower quality form of currency. Interesting fact: Thier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored", - "Wrong answer! Gresham's Law explains this behavior, not Thier's Law", - "Sorry, try again! Thier's Law is not about always choosing the less valuable currency." - ], - "id": "thiersLaw", - "question": "What is Thier's Law", - "text": "Thier's Law is a concept that discusses what might happen if people and businesses refused to accept or use a lower quality form of currency.\n\nInstead of disappearing from circulation, the higher quality form of money might be traded at a premium, or for a higher value than its face value.\n\nThier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored.\n\nIn other words, people and businesses may choose not to accept the lower quality currency and instead prefer to use the higher quality one or other forms of payment.\n", + "questions": { + "greshamsLaw": { + "answers": [ + "A law that explains how people tend to use different types of currency in different ways when they are in circulation together", + "A law that says people will always choose to spend the more valuable currency when given a choice", + "Gresham's Law actually explains the opposite behavior" + ], + "feedback": [ + "Good job, you understood Gresham's Law. This law explains how people tend to save the more valuable currency and spend the less valuable one when given the choice. Interesting fact: Gresham's Law can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver", + "Sorry, wrong answer! Gresham's Law actually explains the opposite behavior", + "Ha! That's a funny answer, but unfortunately it's not correct." + ], + "question": "What is Gresham's Law", + "text": "Gresham's Law is a concept that explains how people tend to use different types of currency in different ways when they are in circulation together.\n\nIf two forms of currency are given equal value by a government or other authority, but one is made of a more valuable material, people will be more likely to save the more valuable currency and spend the less valuable one.\n\nThis can happen when a government debases its currency, or makes it worth less, by decreasing the amount of valuable material it contains. The result is that people lose trust in the debased currency and prefer to hold onto the more valuable one instead.\n\nThis principle can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver, if the supply of the currency is increased in a way that makes it worth less.\n\nIn recent years, the emergence of bitcoin as a digital currency has led to a trend of people saving in bitcoin and spending their traditional currency, or \"fiat,\" more quickly. This is because bitcoin is seen as having a higher long-term value and being more stable than fiat currencies.\n", + "title": "What is Gresham's Law" + } + } + } + }, + { + "thiersLaw": { "title": "Thier's Law", - "type": "Text" - }, - { - "answers": [ - "A phenomenon that occurs when new money is introduced into an economy, causing some prices to increase more than others and leading to an uneven distribution of wealth.", - "A mysterious force that causes people to turn into cantaloupes whenever they eat too much fruit.", - "A dance move that involves spinning around in circles while holding a bunch of cantaloupes." - ], - "feedback": [ - "Congratulations, you are correct! The Cantillon Effect is indeed a process that can influence the distribution of wealth in an economy. Good job", - "Sorry, but the Cantillon Effect doesn't have anything to do with fruit transformation. Better luck next time", - "Sorry, but the Cantillon Effect is not a dance move, no matter how much you love cantaloupes. Better luck next time!" - ], - "id": "cantillonEffect", - "question": "What is the Cantillon Effect", - "text": "The Cantillon Effect is a phenomenon that occurs when new money is introduced into an economy.\n\nWhen new money is added, it tends to go to certain people or businesses first, and these initial recipients have an advantage over others because they get to use the new money before prices go up.\n\nThis causes the prices of some goods and services to increase more than others, which means that the people who get the new money first benefit while those who get it later are disadvantaged.\n\nThis effect was first described by economist Richard Cantillon in the context of commodity money, such as gold and silver, but it is even more relevant today in the age of fiat money.\n\nWhen a government or central bank creates a lot of new fiat money, it can lead to increased prices and uneven distribution of wealth, as some people and businesses are able to access credit more easily and benefit from rising asset prices.\n", + "questions": { + "thiersLaw": { + "answers": [ + "A law that discusses what might happen if people and businesses refuse to accept or use a lower quality form of currency", + "A law that says people will always choose the more valuable currency when given a choice", + "A law that says people will always choose the less valuable currency when given a choice" + ], + "feedback": [ + "Correct! Good job, you understood Thier's Law. This law discusses what might happen if people and businesses refuse to accept a lower quality form of currency. Interesting fact: Thier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored", + "Wrong answer! Gresham's Law explains this behavior, not Thier's Law", + "Sorry, try again! Thier's Law is not about always choosing the less valuable currency." + ], + "question": "What is Thier's Law", + "text": "Thier's Law is a concept that discusses what might happen if people and businesses refused to accept or use a lower quality form of currency.\n\nInstead of disappearing from circulation, the higher quality form of money might be traded at a premium, or for a higher value than its face value.\n\nThier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored.\n\nIn other words, people and businesses may choose not to accept the lower quality currency and instead prefer to use the higher quality one or other forms of payment.\n", + "title": "What is Thier's Law" + } + } + } + }, + { + "cantillonEffect": { "title": "The **** Cantillon Effect", - "type": "Text" - }, - { - "answers": [ - "A solution that people tend to choose by default in the absence of communication", - "A type of point system used in online multiplayer games", - "A point on the earth's surface where all the planet's magnetic forces are balanced" - ], - "feedback": [ - "You got it right. Did you know that a Schelling point can occur in multiplayer cooperative games and communication networks, and can be facilitated by standardized protocols like money", - "Wrong! But at least you're thinking about points. Maybe try again and focus on communication this time", - "Ha! You're off by a whole planet. Maybe try again and focus on the concept of default choices in the absence of communication." - ], - "id": "schellingPoint", - "question": "What is a Schelling point", - "text": "A Schelling point is a solution that people tend to choose by default, without communicating with each other.\n\nThis can happen in multiplayer cooperative games, where you have to anticipate the choices of others. If you make the wrong choice, you might face consequences or miss out on benefits.\n\nCommunication works the same way - it's like a multiplayer cooperative game played with others in the same network. We use standardized protocols (like email, spoken language, or money) to communicate efficiently with as many people as possible, with as little friction as possible. This can lead to increased trade, knowledge exchange, and innovation.\n\nIn the digital world, people tend to choose the same option (the Schelling point) when exchanging value. This is because they expect that others will also choose it.\n\nThe option that becomes the Schelling point is the one that communicates price signals most accurately, allowing market participants to coordinate with each other.\n\nBitcoin is a protocol for exchanging value that has several advantages over traditional currencies (called \"fiat\"). For example, it has a fixed supply and its value has generally increased over time, while fiat currencies often lose value. Additionally, the bitcoin network is permissionless, global, and indestructible. All of these factors make bitcoin a natural Schelling point for money.\n", + "questions": { + "cantillonEffect": { + "answers": [ + "A phenomenon that occurs when new money is introduced into an economy, causing some prices to increase more than others and leading to an uneven distribution of wealth.", + "A mysterious force that causes people to turn into cantaloupes whenever they eat too much fruit.", + "A dance move that involves spinning around in circles while holding a bunch of cantaloupes." + ], + "feedback": [ + "Congratulations, you are correct! The Cantillon Effect is indeed a process that can influence the distribution of wealth in an economy. Good job", + "Sorry, but the Cantillon Effect doesn't have anything to do with fruit transformation. Better luck next time", + "Sorry, but the Cantillon Effect is not a dance move, no matter how much you love cantaloupes. Better luck next time!" + ], + "question": "What is the Cantillon Effect", + "text": "The Cantillon Effect is a phenomenon that occurs when new money is introduced into an economy.\n\nWhen new money is added, it tends to go to certain people or businesses first, and these initial recipients have an advantage over others because they get to use the new money before prices go up.\n\nThis causes the prices of some goods and services to increase more than others, which means that the people who get the new money first benefit while those who get it later are disadvantaged.\n\nThis effect was first described by economist Richard Cantillon in the context of commodity money, such as gold and silver, but it is even more relevant today in the age of fiat money.\n\nWhen a government or central bank creates a lot of new fiat money, it can lead to increased prices and uneven distribution of wealth, as some people and businesses are able to access credit more easily and benefit from rising asset prices.\n", + "title": "What is the Cantillon Effect" + } + } + } + }, + { + "schellingPoint": { "title": "Schelling Point", - "type": "Text" + "questions": { + "schellingPoint": { + "answers": [ + "A solution that people tend to choose by default in the absence of communication", + "A type of point system used in online multiplayer games", + "A point on the earth's surface where all the planet's magnetic forces are balanced" + ], + "feedback": [ + "You got it right. Did you know that a Schelling point can occur in multiplayer cooperative games and communication networks, and can be facilitated by standardized protocols like money", + "Wrong! But at least you're thinking about points. Maybe try again and focus on communication this time", + "Ha! You're off by a whole planet. Maybe try again and focus on the concept of default choices in the absence of communication." + ], + "question": "What is a Schelling point", + "text": "A Schelling point is a solution that people tend to choose by default, without communicating with each other.\n\nThis can happen in multiplayer cooperative games, where you have to anticipate the choices of others. If you make the wrong choice, you might face consequences or miss out on benefits.\n\nCommunication works the same way - it's like a multiplayer cooperative game played with others in the same network. We use standardized protocols (like email, spoken language, or money) to communicate efficiently with as many people as possible, with as little friction as possible. This can lead to increased trade, knowledge exchange, and innovation.\n\nIn the digital world, people tend to choose the same option (the Schelling point) when exchanging value. This is because they expect that others will also choose it.\n\nThe option that becomes the Schelling point is the one that communicates price signals most accurately, allowing market participants to coordinate with each other.\n\nBitcoin is a protocol for exchanging value that has several advantages over traditional currencies (called \"fiat\"). For example, it has a fixed supply and its value has generally increased over time, while fiat currencies often lose value. Additionally, the bitcoin network is permissionless, global, and indestructible. All of these factors make bitcoin a natural Schelling point for money.\n", + "title": "What is a Schelling point" + } + } } - ], - "meta": { - "id": "BitcoinandEconomicsI", - "title": "Bitcoin and Economics I" } -} +] diff --git a/chapter-601-bitcoin-and-economics-i/601-es-combined.json b/chapter-601-bitcoin-and-economics-i/601-es-combined.json deleted file mode 100644 index 71f6388..0000000 --- a/chapter-601-bitcoin-and-economics-i/601-es-combined.json +++ /dev/null @@ -1,110 +0,0 @@ -{ - "content": [ - { - "answers": [ - "Un recurso que est\u00e1 limitado en cantidad o disponibilidad y puede dar lugar a competencia por la posesi\u00f3n.", - "Un recurso abundante y f\u00e1cil de conseguir.", - "Un recurso que s\u00f3lo se puede obtener viajando en el tiempo." - ], - "feedback": [ - "Observaci\u00f3n:** \u00a1Correcto! Buen trabajo, entendiste el concepto de escasez. La escasez puede generar competencia y afectar el valor de los bienes y servicios en un mercado libre.", - "\u00a1Equivocado! Perd\u00f3n por reventar tu burbuja, pero si algo es f\u00e1cil de conseguir, no puede ser escaso.", - "\u00a1Equivocado! El viaje en el tiempo es una gran idea para una pel\u00edcula de ciencia ficci\u00f3n, pero no tiene nada que ver con la escasez de recursos." - ], - "id": "escasez", - "question": "\u00bfQu\u00e9 es un recurso escaso?", - "text": "Cuando no hay suficientes recursos para todos, las personas y las organizaciones compiten por ellos.\n\nEsta competencia a menudo se refleja en el precio de los bienes y servicios en un mercado libre. Si la demanda de un recurso en particular aumenta m\u00e1s r\u00e1pido que la oferta, puede volverse escaso y m\u00e1s valioso.\n\nEl dinero se utiliza a menudo como forma de comprar cosas porque es f\u00e1cil de intercambiar y es valioso porque es escaso. Bitcoin es una forma digital de dinero que tiene una oferta fija, lo que lo hace raro y valioso.\n\nLa idea de que nunca hay suficiente para todos es un principio b\u00e1sico de la econom\u00eda, pero a menudo se ignora en las decisiones pol\u00edticas.\n", - "title": "C\u00f3mo se asignan y compiten los recursos limitados", - "type": "Texto" - }, - { - "answers": [ - "La diferencia de valor entre el uso de algo como dinero y su valor para sus otros usos.", - "Una tarifa adicional agregada al precio de los bienes y servicios.", - "Una prima monetaria no tiene nada que ver con pagar extra por las cosas." - ], - "feedback": [ - "\u00a1Felicidades! Usted sabe lo que hace cuando se trata de primas monetarias. Una prima monetaria es el valor adicional que puede tener algo cuando se utiliza como sustituto del dinero. Buen trabajo", - "Lo lamento, \u00a1respuesta incorrecta! Una prima monetaria no tiene nada que ver con pagar extra por las cosas.", - "\u00a1No! Una prima monetaria no es un descuento, en realidad es todo lo contrario." - ], - "id": "prima monetaria", - "question": "\u00bfQu\u00e9 es una prima monetaria?", - "text": "Si el valor del dinero no se basa en su escasez, puede que no sea tan fiable como forma de almacenar riqueza. En este caso, otras cosas que son escasas, como activos o recursos, pueden volverse m\u00e1s valiosas y utilizarse como sustitutos del dinero.\n\nEste valor adicional se conoce como prima monetaria. Cuando la forma habitual de dinero no funciona bien, la gente puede recurrir a otras cosas que son raras o dif\u00edciles de obtener como forma de intercambiar valor.\n\nAlgunas formas hist\u00f3ricas de dinero no ten\u00edan otro uso o valor aparte de ser utilizadas como forma de intercambiar por otras cosas. La diferencia entre el valor de algo como dinero y su valor para otros usos es la prima monetaria.\n", - "title": "Prima monetaria", - "type": "Texto" - }, - { - "answers": [ - "Una ley que explica c\u00f3mo las personas tienden a utilizar diferentes tipos de moneda de diferentes maneras cuando est\u00e1n en circulaci\u00f3n juntas.", - "Una ley que dice que la gente siempre elegir\u00e1 gastar la moneda m\u00e1s valiosa cuando se le d\u00e9 la opci\u00f3n.", - "La Ley de Gresham en realidad explica el comportamiento opuesto." - ], - "feedback": [ - "Buen trabajo, entendiste la Ley de Gresham. Esta ley explica c\u00f3mo las personas tienden a ahorrar la moneda m\u00e1s valiosa y gastar la menos valiosa cuando se les da la opci\u00f3n. Dato interesante: la Ley de Gresham tambi\u00e9n se puede aplicar a la moneda \"fiduciaria\", que no est\u00e1 respaldada por un producto f\u00edsico como el oro o la plata.", - "Lo lamento, \u00a1respuesta incorrecta! La Ley de Gresham en realidad explica el comportamiento opuesto.", - "\u00a1Ja! Es una respuesta divertida, pero lamentablemente no es correcta." - ], - "id": "greshamsLey", - "question": "\u00bfQu\u00e9 es la ley de Gresham?", - "text": "La Ley de Gresham es un concepto que explica c\u00f3mo las personas tienden a utilizar diferentes tipos de moneda de diferentes maneras cuando est\u00e1n en circulaci\u00f3n juntas.\n\nSi un gobierno u otra autoridad otorga el mismo valor a dos formas de moneda, pero una est\u00e1 hecha de un material m\u00e1s valioso, ser\u00e1 m\u00e1s probable que la gente ahorre la moneda m\u00e1s valiosa y gaste la menos valiosa.\n\nEsto puede suceder cuando un gobierno degrada su moneda, o la hace valer menos, al disminuir la cantidad de material valioso que contiene. El resultado es que la gente pierde la confianza en la moneda degradada y prefiere conservar la m\u00e1s valiosa.\n\nEste principio tambi\u00e9n puede aplicarse a la moneda \"fiduciaria\", que no est\u00e1 respaldada por un producto f\u00edsico como el oro o la plata, si la oferta de la moneda aumenta de una manera que la haga valer menos.\n\nEn los \u00faltimos a\u00f1os, el surgimiento de bitcoin como moneda digital ha llevado a una tendencia a que las personas ahorren en bitcoin y gasten su moneda tradicional, o \"fiat\", m\u00e1s r\u00e1pidamente. Esto se debe a que se considera que bitcoin tiene un valor m\u00e1s alto a largo plazo y es m\u00e1s estable que las monedas fiduciarias.\n", - "title": "Ley de Gresham", - "type": "Texto" - }, - { - "answers": [ - "Una ley que analiza lo que podr\u00eda suceder si las personas y las empresas se niegan a aceptar o utilizar una forma de moneda de menor calidad.", - "Una ley que dice que la gente siempre elegir\u00e1 la moneda m\u00e1s valiosa cuando se le d\u00e9 la opci\u00f3n", - "Una ley que dice que la gente siempre elegir\u00e1 la moneda menos valiosa cuando se le d\u00e9 la opci\u00f3n" - ], - "feedback": [ - "\u00a1Correcto! Buen trabajo, entendiste la ley de Thier. Esta ley analiza lo que podr\u00eda suceder si las personas y las empresas se niegan a aceptar una forma de moneda de menor calidad. Dato interesante: la Ley de Thier sugiere que si un gobierno intenta obligar a la gente a utilizar una moneda de menor calidad convirti\u00e9ndola en moneda de curso legal, ser\u00e1 ignorada.", - "\u00a1Respuesta incorrecta! La Ley de Gresham explica este comportamiento, no la Ley de Thier", - "\u00a1Perd\u00f3n intente de nuevo! La Ley de Thier no consiste en elegir siempre la moneda menos valiosa." - ], - "id": "ThiersLaw", - "question": "\u00bfQu\u00e9 es la ley de Thier?", - "text": "La Ley de Thier es un concepto que analiza lo que podr\u00eda suceder si las personas y las empresas se negaran a aceptar o utilizar una forma de moneda de menor calidad.\n\nEn lugar de desaparecer de la circulaci\u00f3n, la forma de dinero de mayor calidad podr\u00eda comercializarse con una prima o por un valor superior a su valor nominal.\n\nLa Ley de Thier sugiere que si un gobierno intenta obligar a la gente a utilizar una moneda de menor calidad convirti\u00e9ndola en moneda de curso legal, ser\u00e1 ignorado.\n\nEn otras palabras, las personas y las empresas pueden optar por no aceptar la moneda de menor calidad y, en cambio, preferir utilizar una u otra forma de pago de mayor calidad.\n", - "title": "Ley de Thier", - "type": "Texto" - }, - { - "answers": [ - "Fen\u00f3meno que se produce cuando se introduce dinero nuevo en una econom\u00eda, lo que hace que algunos precios aumenten m\u00e1s que otros y provoque una distribuci\u00f3n desigual de la riqueza.", - "Una fuerza misteriosa que hace que las personas se conviertan en melones cada vez que comen demasiada fruta.", - "Un movimiento de baile que consiste en girar en c\u00edrculos mientras se sostiene un mont\u00f3n de melones." - ], - "feedback": [ - "\u00a1Felicidades, tienes raz\u00f3n! De hecho, el efecto Cantillon es un proceso que puede influir en la distribuci\u00f3n de la riqueza en una econom\u00eda. Buen trabajo", - "Lo sentimos, pero el Efecto Cantillon no tiene nada que ver con la transformaci\u00f3n de la fruta. Mejor suerte la pr\u00f3xima vez", - "Lo siento, pero el efecto Cantillon no es un movimiento de baile, por mucho que te gusten los melones. \u00a1Mejor suerte la pr\u00f3xima vez!" - ], - "id": "cantillonEfecto", - "question": "\u00bfQu\u00e9 es el efecto Cantillon?", - "text": "El efecto Cantillon es un fen\u00f3meno que ocurre cuando se introduce dinero nuevo en una econom\u00eda.\n\nCuando se agrega dinero nuevo, tiende a ir primero a ciertas personas o empresas, y estos destinatarios iniciales tienen una ventaja sobre otros porque pueden usar el dinero nuevo antes de que suban los precios.\n\nEsto hace que los precios de algunos bienes y servicios aumenten m\u00e1s que otros, lo que significa que las personas que obtienen el nuevo dinero primero se benefician, mientras que las que lo obtienen despu\u00e9s quedan en desventaja.\n\nEste efecto fue descrito por primera vez por el economista Richard Cantillon en el contexto del dinero-mercanc\u00edas, como el oro y la plata, pero es a\u00fan m\u00e1s relevante hoy en la era del dinero fiduciario.\n\nCuando un gobierno o un banco central crea una gran cantidad de dinero fiduciario nuevo, puede provocar un aumento de los precios y una distribuci\u00f3n desigual de la riqueza, ya que algunas personas y empresas pueden acceder al cr\u00e9dito m\u00e1s f\u00e1cilmente y beneficiarse del aumento de los precios de los activos.\n", - "title": "El maldito efecto Cantillon", - "type": "Texto" - }, - { - "answers": [ - "Una soluci\u00f3n que la gente suele elegir por defecto ante la falta de comunicaci\u00f3n", - "Un tipo de sistema de puntos utilizado en juegos multijugador en l\u00ednea.", - "Un punto de la superficie terrestre donde todas las fuerzas magn\u00e9ticas del planeta est\u00e1n equilibradas." - ], - "feedback": [ - "Lo hiciste bien. \u00bfSab\u00edas que un punto de Schelling puede ocurrir en juegos cooperativos multijugador y redes de comunicaci\u00f3n, y puede facilitarse mediante protocolos estandarizados como el dinero?", - "\u00a1Equivocado! Pero al menos est\u00e1s pensando en los puntos. Tal vez intente nuevamente y esta vez conc\u00e9ntrese en la comunicaci\u00f3n.", - "\u00a1Ja! Est\u00e1s alejado de todo un planeta. Tal vez intente nuevamente y conc\u00e9ntrese en el concepto de opciones predeterminadas en ausencia de comunicaci\u00f3n." - ], - "id": "punto de programaci\u00f3n", - "question": "\u00bfQu\u00e9 es un punto de Schelling?", - "text": "Un punto de Schelling es una soluci\u00f3n que la gente tiende a elegir por defecto, sin comunicarse entre s\u00ed.\n\nEsto puede suceder en juegos cooperativos multijugador, donde hay que anticipar las elecciones de los dem\u00e1s. Si toma la decisi\u00f3n equivocada, podr\u00eda enfrentar consecuencias o perder beneficios.\n\nLa comunicaci\u00f3n funciona de la misma manera: es como un juego cooperativo multijugador que se juega con otros en la misma red. Utilizamos protocolos estandarizados (como correo electr\u00f3nico, lenguaje hablado o dinero) para comunicarnos de manera eficiente con la mayor cantidad de personas posible, con la menor fricci\u00f3n posible. Esto puede conducir a un aumento del comercio, el intercambio de conocimientos y la innovaci\u00f3n.\n\nEn el mundo digital, la gente tiende a elegir la misma opci\u00f3n (el punto Schelling) a la hora de intercambiar valor. Esto se debe a que esperan que otros tambi\u00e9n lo elijan.\n\nLa opci\u00f3n que se convierte en el punto Schelling es la que comunica las se\u00f1ales de precios con mayor precisi\u00f3n, permitiendo a los participantes del mercado coordinarse entre s\u00ed.\n\nBitcoin es un protocolo para intercambiar valor que tiene varias ventajas sobre las monedas tradicionales (llamadas \"fiat\"). Por ejemplo, tiene una oferta fija y su valor generalmente ha aumentado con el tiempo, mientras que las monedas fiduciarias a menudo pierden valor. Adem\u00e1s, la red bitcoin no tiene permisos, es global e indestructible. Todos estos factores hacen de Bitcoin un punto de Schelling natural para el dinero.\n", - "title": "Punto de Schelling", - "type": "Texto" - } - ], - "meta": { - "id": "BitcoinyEconom\u00edaI", - "title": "Bitcoin y Econom\u00eda I" - } -} \ No newline at end of file diff --git a/chapter-601-bitcoin-and-economics-i/601.01-lesson-scarcity.json b/chapter-601-bitcoin-and-economics-i/601.01-lesson-scarcity.json index 998eaf3..26e97bc 100644 --- a/chapter-601-bitcoin-and-economics-i/601.01-lesson-scarcity.json +++ b/chapter-601-bitcoin-and-economics-i/601.01-lesson-scarcity.json @@ -1,17 +1,22 @@ { - "answers": [ - "A resource that is limited in quantity or availability and can lead to competition for possession", - "A resource that is abundant and easy to come by", - "A resource that can only be obtained through time travel" - ], - "feedback": [ - "Remark:** Correct! Good job, you understood the concept of scarcity. Scarcity can lead to competition and can affect the value of goods and services in a free market", - "Wrong! Sorry to burst your bubble, but if something is easy to come by, it can't be scarce", - "Wrong! Time travel is a great idea for a sci-fi movie, but it doesn't have anything to do with scarce resources." - ], - "id": "scarcity", - "question": "What is a scarce resource", - "text": "When there are not enough resources to go around, people and organizations compete for them.\n\nThis competition is often reflected in the price of goods and services in a free market. If the demand for a particular resource increases faster than the supply, it can become scarce and more valuable.\n\nMoney is often used as a way to buy things because it is easy to trade and is valuable because it is scarce. Bitcoin is a digital form of money that has a fixed supply, which makes it rare and valuable.\n\nThe idea that there is never enough of something to go around is a basic principle of economics, but it is often ignored in political decisions.\n", - "title": "How limited resources are allocated and competed for", - "type": "Text" + "scarcity": { + "title": "How limited resources are allocated and competed for", + "questions": { + "scarcity": { + "answers": [ + "A resource that is limited in quantity or availability and can lead to competition for possession", + "A resource that is abundant and easy to come by", + "A resource that can only be obtained through time travel" + ], + "feedback": [ + "Remark:** Correct! Good job, you understood the concept of scarcity. Scarcity can lead to competition and can affect the value of goods and services in a free market", + "Wrong! Sorry to burst your bubble, but if something is easy to come by, it can't be scarce", + "Wrong! Time travel is a great idea for a sci-fi movie, but it doesn't have anything to do with scarce resources." + ], + "question": "What is a scarce resource", + "text": "When there are not enough resources to go around, people and organizations compete for them.\n\nThis competition is often reflected in the price of goods and services in a free market. If the demand for a particular resource increases faster than the supply, it can become scarce and more valuable.\n\nMoney is often used as a way to buy things because it is easy to trade and is valuable because it is scarce. Bitcoin is a digital form of money that has a fixed supply, which makes it rare and valuable.\n\nThe idea that there is never enough of something to go around is a basic principle of economics, but it is often ignored in political decisions.\n", + "title": "What is a scarce resource" + } + } + } } diff --git a/chapter-601-bitcoin-and-economics-i/601.02-lesson-monetary-premium.json b/chapter-601-bitcoin-and-economics-i/601.02-lesson-monetary-premium.json index c58c5e0..23d2dea 100644 --- a/chapter-601-bitcoin-and-economics-i/601.02-lesson-monetary-premium.json +++ b/chapter-601-bitcoin-and-economics-i/601.02-lesson-monetary-premium.json @@ -1,17 +1,22 @@ { - "answers": [ - "The difference in value between something's use as money and its value for its other uses", - "An extra fee added to the price of goods and services", - "A monetary premium has nothing to do with paying extra for things" - ], - "feedback": [ - "Congratulations! You know your stuff when it comes to monetary premiums. A monetary premium is the additional value that something can have when it is used as a substitute for money. Good job", - "Sorry, wrong answer! A monetary premium has nothing to do with paying extra for things", - "Nope! A monetary premium is not a discount, it's actually the opposite." - ], - "id": "monetaryPremium", - "question": "What is a monetary premium", - "text": "If the value of money is not based on its scarcity, it may not be as reliable as a way to store wealth. In this case, other things that are scarce, such as assets or resources, may become more valuable and be used as a substitute for money.\n\nThis additional value is known as a monetary premium. When the usual form of money is not working well, people may turn to other things that are rare or hard to obtain as a way to exchange value.\n\nSome historical forms of money had no other use or value besides being used as a way to trade for other things. The difference between the value of something as money and its value for its other uses is the monetary premium.\n", - "title": "Monetary Premium", - "type": "Text" + "monetaryPremium": { + "title": "Monetary Premium", + "questions": { + "monetaryPremium": { + "answers": [ + "The difference in value between something's use as money and its value for its other uses", + "An extra fee added to the price of goods and services", + "A monetary premium has nothing to do with paying extra for things" + ], + "feedback": [ + "Congratulations! You know your stuff when it comes to monetary premiums. A monetary premium is the additional value that something can have when it is used as a substitute for money. Good job", + "Sorry, wrong answer! A monetary premium has nothing to do with paying extra for things", + "Nope! A monetary premium is not a discount, it's actually the opposite." + ], + "question": "What is a monetary premium", + "text": "If the value of money is not based on its scarcity, it may not be as reliable as a way to store wealth. In this case, other things that are scarce, such as assets or resources, may become more valuable and be used as a substitute for money.\n\nThis additional value is known as a monetary premium. When the usual form of money is not working well, people may turn to other things that are rare or hard to obtain as a way to exchange value.\n\nSome historical forms of money had no other use or value besides being used as a way to trade for other things. The difference between the value of something as money and its value for its other uses is the monetary premium.\n", + "title": "What is a monetary premium" + } + } + } } diff --git a/chapter-601-bitcoin-and-economics-i/601.03-lesson-greshams-law.json b/chapter-601-bitcoin-and-economics-i/601.03-lesson-greshams-law.json index c52b4bb..ef080b8 100644 --- a/chapter-601-bitcoin-and-economics-i/601.03-lesson-greshams-law.json +++ b/chapter-601-bitcoin-and-economics-i/601.03-lesson-greshams-law.json @@ -1,17 +1,22 @@ { - "answers": [ - "A law that explains how people tend to use different types of currency in different ways when they are in circulation together", - "A law that says people will always choose to spend the more valuable currency when given a choice", - "Gresham's Law actually explains the opposite behavior" - ], - "feedback": [ - "Good job, you understood Gresham's Law. This law explains how people tend to save the more valuable currency and spend the less valuable one when given the choice. Interesting fact: Gresham's Law can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver", - "Sorry, wrong answer! Gresham's Law actually explains the opposite behavior", - "Ha! That's a funny answer, but unfortunately it's not correct." - ], - "id": "greshamsLaw", - "question": "What is Gresham's Law", - "text": "Gresham's Law is a concept that explains how people tend to use different types of currency in different ways when they are in circulation together.\n\nIf two forms of currency are given equal value by a government or other authority, but one is made of a more valuable material, people will be more likely to save the more valuable currency and spend the less valuable one.\n\nThis can happen when a government debases its currency, or makes it worth less, by decreasing the amount of valuable material it contains. The result is that people lose trust in the debased currency and prefer to hold onto the more valuable one instead.\n\nThis principle can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver, if the supply of the currency is increased in a way that makes it worth less.\n\nIn recent years, the emergence of bitcoin as a digital currency has led to a trend of people saving in bitcoin and spending their traditional currency, or \"fiat,\" more quickly. This is because bitcoin is seen as having a higher long-term value and being more stable than fiat currencies.\n", - "title": "Gresham's Law", - "type": "Text" + "greshamsLaw": { + "title": "Gresham's Law", + "questions": { + "greshamsLaw": { + "answers": [ + "A law that explains how people tend to use different types of currency in different ways when they are in circulation together", + "A law that says people will always choose to spend the more valuable currency when given a choice", + "Gresham's Law actually explains the opposite behavior" + ], + "feedback": [ + "Good job, you understood Gresham's Law. This law explains how people tend to save the more valuable currency and spend the less valuable one when given the choice. Interesting fact: Gresham's Law can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver", + "Sorry, wrong answer! Gresham's Law actually explains the opposite behavior", + "Ha! That's a funny answer, but unfortunately it's not correct." + ], + "question": "What is Gresham's Law", + "text": "Gresham's Law is a concept that explains how people tend to use different types of currency in different ways when they are in circulation together.\n\nIf two forms of currency are given equal value by a government or other authority, but one is made of a more valuable material, people will be more likely to save the more valuable currency and spend the less valuable one.\n\nThis can happen when a government debases its currency, or makes it worth less, by decreasing the amount of valuable material it contains. The result is that people lose trust in the debased currency and prefer to hold onto the more valuable one instead.\n\nThis principle can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver, if the supply of the currency is increased in a way that makes it worth less.\n\nIn recent years, the emergence of bitcoin as a digital currency has led to a trend of people saving in bitcoin and spending their traditional currency, or \"fiat,\" more quickly. This is because bitcoin is seen as having a higher long-term value and being more stable than fiat currencies.\n", + "title": "What is Gresham's Law" + } + } + } } diff --git a/chapter-601-bitcoin-and-economics-i/601.04-lesson-thiers-law.json b/chapter-601-bitcoin-and-economics-i/601.04-lesson-thiers-law.json index a05589b..5cb861e 100644 --- a/chapter-601-bitcoin-and-economics-i/601.04-lesson-thiers-law.json +++ b/chapter-601-bitcoin-and-economics-i/601.04-lesson-thiers-law.json @@ -1,17 +1,22 @@ { - "answers": [ - "A law that discusses what might happen if people and businesses refuse to accept or use a lower quality form of currency", - "A law that says people will always choose the more valuable currency when given a choice", - "A law that says people will always choose the less valuable currency when given a choice" - ], - "feedback": [ - "Correct! Good job, you understood Thier's Law. This law discusses what might happen if people and businesses refuse to accept a lower quality form of currency. Interesting fact: Thier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored", - "Wrong answer! Gresham's Law explains this behavior, not Thier's Law", - "Sorry, try again! Thier's Law is not about always choosing the less valuable currency." - ], - "id": "thiersLaw", - "question": "What is Thier's Law", - "text": "Thier's Law is a concept that discusses what might happen if people and businesses refused to accept or use a lower quality form of currency.\n\nInstead of disappearing from circulation, the higher quality form of money might be traded at a premium, or for a higher value than its face value.\n\nThier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored.\n\nIn other words, people and businesses may choose not to accept the lower quality currency and instead prefer to use the higher quality one or other forms of payment.\n", - "title": "Thier's Law", - "type": "Text" + "thiersLaw": { + "title": "Thier's Law", + "questions": { + "thiersLaw": { + "answers": [ + "A law that discusses what might happen if people and businesses refuse to accept or use a lower quality form of currency", + "A law that says people will always choose the more valuable currency when given a choice", + "A law that says people will always choose the less valuable currency when given a choice" + ], + "feedback": [ + "Correct! Good job, you understood Thier's Law. This law discusses what might happen if people and businesses refuse to accept a lower quality form of currency. Interesting fact: Thier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored", + "Wrong answer! Gresham's Law explains this behavior, not Thier's Law", + "Sorry, try again! Thier's Law is not about always choosing the less valuable currency." + ], + "question": "What is Thier's Law", + "text": "Thier's Law is a concept that discusses what might happen if people and businesses refused to accept or use a lower quality form of currency.\n\nInstead of disappearing from circulation, the higher quality form of money might be traded at a premium, or for a higher value than its face value.\n\nThier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored.\n\nIn other words, people and businesses may choose not to accept the lower quality currency and instead prefer to use the higher quality one or other forms of payment.\n", + "title": "What is Thier's Law" + } + } + } } diff --git a/chapter-601-bitcoin-and-economics-i/601.05-lesson-cantillon-effect.json b/chapter-601-bitcoin-and-economics-i/601.05-lesson-cantillon-effect.json index a156857..97e9ad1 100644 --- a/chapter-601-bitcoin-and-economics-i/601.05-lesson-cantillon-effect.json +++ b/chapter-601-bitcoin-and-economics-i/601.05-lesson-cantillon-effect.json @@ -1,17 +1,22 @@ { - "answers": [ - "A phenomenon that occurs when new money is introduced into an economy, causing some prices to increase more than others and leading to an uneven distribution of wealth.", - "A mysterious force that causes people to turn into cantaloupes whenever they eat too much fruit.", - "A dance move that involves spinning around in circles while holding a bunch of cantaloupes." - ], - "feedback": [ - "Congratulations, you are correct! The Cantillon Effect is indeed a process that can influence the distribution of wealth in an economy. Good job", - "Sorry, but the Cantillon Effect doesn't have anything to do with fruit transformation. Better luck next time", - "Sorry, but the Cantillon Effect is not a dance move, no matter how much you love cantaloupes. Better luck next time!" - ], - "id": "cantillonEffect", - "question": "What is the Cantillon Effect", - "text": "The Cantillon Effect is a phenomenon that occurs when new money is introduced into an economy.\n\nWhen new money is added, it tends to go to certain people or businesses first, and these initial recipients have an advantage over others because they get to use the new money before prices go up.\n\nThis causes the prices of some goods and services to increase more than others, which means that the people who get the new money first benefit while those who get it later are disadvantaged.\n\nThis effect was first described by economist Richard Cantillon in the context of commodity money, such as gold and silver, but it is even more relevant today in the age of fiat money.\n\nWhen a government or central bank creates a lot of new fiat money, it can lead to increased prices and uneven distribution of wealth, as some people and businesses are able to access credit more easily and benefit from rising asset prices.\n", - "title": "The **** Cantillon Effect", - "type": "Text" + "cantillonEffect": { + "title": "The **** Cantillon Effect", + "questions": { + "cantillonEffect": { + "answers": [ + "A phenomenon that occurs when new money is introduced into an economy, causing some prices to increase more than others and leading to an uneven distribution of wealth.", + "A mysterious force that causes people to turn into cantaloupes whenever they eat too much fruit.", + "A dance move that involves spinning around in circles while holding a bunch of cantaloupes." + ], + "feedback": [ + "Congratulations, you are correct! The Cantillon Effect is indeed a process that can influence the distribution of wealth in an economy. Good job", + "Sorry, but the Cantillon Effect doesn't have anything to do with fruit transformation. Better luck next time", + "Sorry, but the Cantillon Effect is not a dance move, no matter how much you love cantaloupes. Better luck next time!" + ], + "question": "What is the Cantillon Effect", + "text": "The Cantillon Effect is a phenomenon that occurs when new money is introduced into an economy.\n\nWhen new money is added, it tends to go to certain people or businesses first, and these initial recipients have an advantage over others because they get to use the new money before prices go up.\n\nThis causes the prices of some goods and services to increase more than others, which means that the people who get the new money first benefit while those who get it later are disadvantaged.\n\nThis effect was first described by economist Richard Cantillon in the context of commodity money, such as gold and silver, but it is even more relevant today in the age of fiat money.\n\nWhen a government or central bank creates a lot of new fiat money, it can lead to increased prices and uneven distribution of wealth, as some people and businesses are able to access credit more easily and benefit from rising asset prices.\n", + "title": "What is the Cantillon Effect" + } + } + } } diff --git a/chapter-601-bitcoin-and-economics-i/601.06-lesson-schelling-point.json b/chapter-601-bitcoin-and-economics-i/601.06-lesson-schelling-point.json index 24f82e7..90ec229 100644 --- a/chapter-601-bitcoin-and-economics-i/601.06-lesson-schelling-point.json +++ b/chapter-601-bitcoin-and-economics-i/601.06-lesson-schelling-point.json @@ -1,17 +1,22 @@ { - "answers": [ - "A solution that people tend to choose by default in the absence of communication", - "A type of point system used in online multiplayer games", - "A point on the earth's surface where all the planet's magnetic forces are balanced" - ], - "feedback": [ - "You got it right. Did you know that a Schelling point can occur in multiplayer cooperative games and communication networks, and can be facilitated by standardized protocols like money", - "Wrong! But at least you're thinking about points. Maybe try again and focus on communication this time", - "Ha! You're off by a whole planet. Maybe try again and focus on the concept of default choices in the absence of communication." - ], - "id": "schellingPoint", - "question": "What is a Schelling point", - "text": "A Schelling point is a solution that people tend to choose by default, without communicating with each other.\n\nThis can happen in multiplayer cooperative games, where you have to anticipate the choices of others. If you make the wrong choice, you might face consequences or miss out on benefits.\n\nCommunication works the same way - it's like a multiplayer cooperative game played with others in the same network. We use standardized protocols (like email, spoken language, or money) to communicate efficiently with as many people as possible, with as little friction as possible. This can lead to increased trade, knowledge exchange, and innovation.\n\nIn the digital world, people tend to choose the same option (the Schelling point) when exchanging value. This is because they expect that others will also choose it.\n\nThe option that becomes the Schelling point is the one that communicates price signals most accurately, allowing market participants to coordinate with each other.\n\nBitcoin is a protocol for exchanging value that has several advantages over traditional currencies (called \"fiat\"). For example, it has a fixed supply and its value has generally increased over time, while fiat currencies often lose value. Additionally, the bitcoin network is permissionless, global, and indestructible. All of these factors make bitcoin a natural Schelling point for money.\n", - "title": "Schelling Point", - "type": "Text" + "schellingPoint": { + "title": "Schelling Point", + "questions": { + "schellingPoint": { + "answers": [ + "A solution that people tend to choose by default in the absence of communication", + "A type of point system used in online multiplayer games", + "A point on the earth's surface where all the planet's magnetic forces are balanced" + ], + "feedback": [ + "You got it right. Did you know that a Schelling point can occur in multiplayer cooperative games and communication networks, and can be facilitated by standardized protocols like money", + "Wrong! But at least you're thinking about points. Maybe try again and focus on communication this time", + "Ha! You're off by a whole planet. Maybe try again and focus on the concept of default choices in the absence of communication." + ], + "question": "What is a Schelling point", + "text": "A Schelling point is a solution that people tend to choose by default, without communicating with each other.\n\nThis can happen in multiplayer cooperative games, where you have to anticipate the choices of others. If you make the wrong choice, you might face consequences or miss out on benefits.\n\nCommunication works the same way - it's like a multiplayer cooperative game played with others in the same network. We use standardized protocols (like email, spoken language, or money) to communicate efficiently with as many people as possible, with as little friction as possible. This can lead to increased trade, knowledge exchange, and innovation.\n\nIn the digital world, people tend to choose the same option (the Schelling point) when exchanging value. This is because they expect that others will also choose it.\n\nThe option that becomes the Schelling point is the one that communicates price signals most accurately, allowing market participants to coordinate with each other.\n\nBitcoin is a protocol for exchanging value that has several advantages over traditional currencies (called \"fiat\"). For example, it has a fixed supply and its value has generally increased over time, while fiat currencies often lose value. Additionally, the bitcoin network is permissionless, global, and indestructible. All of these factors make bitcoin a natural Schelling point for money.\n", + "title": "What is a Schelling point" + } + } + } } diff --git a/chapter-602-bitcoin-and-economics-ii/602-combined.json b/chapter-602-bitcoin-and-economics-ii/602-combined.json index 3c696f5..47dde17 100644 --- a/chapter-602-bitcoin-and-economics-ii/602-combined.json +++ b/chapter-602-bitcoin-and-economics-ii/602-combined.json @@ -1,110 +1,134 @@ -{ - "content": [ - { - "answers": [ - "The cost of not being able to do something else when you choose to do one thing", - "A type of cost that only applies to business owners", - "The cost of buying a new car" - ], - "feedback": [ - "Congratulations! You got it right. Did you know that opportunity cost can help you make better financial decisions by considering the trade-offs involved in different options", - "Wrong! Opportunity cost applies to anyone who makes a choice, not just business owners. Maybe try again and think about the trade-offs involved in decision-making", - "Ha! That's not quite right. The cost of buying a new car is a specific type of expense, not the same thing as opportunity cost. Maybe try again and think about the concept of trade-offs in decision-making." - ], - "id": "opportunityCost", - "question": "What is opportunity cost", - "text": "Opportunity cost is the idea that when you choose to do one thing, you can't do something else instead. In other words, every time you make a financial decision, you have to trade off one option for another.\n\nBitcoin can help you make better financial decisions in the long term because it's a good way to store value (like saving money). This means that if you choose to invest in bitcoin, you might have to give up using that money for other things or opportunities. But if you hold onto your bitcoin, it has the potential to increase in value over time.\n\nThis is especially important right now because the traditional monetary system (called \"fiat\") is not a reliable way to save money - it's designed in a way that causes the value of money to go down over time. So, it's important to make careful financial decisions to preserve your wealth.\n", +[ + { + "opportunityCost": { "title": "Opportunity Cost", - "type": "Text" - }, - { - "answers": [ - "The amount of value you place on the present versus the future", - "A preference for doing things at a specific time of day", - "A preference for traveling through time" - ], - "feedback": [ - "Congratulations! You got it right. Did you know that there are many factors that can influence your time preference, such as personal safety, tax rates, property rights, and the ability to store value reliably", - "Wrong! Time preference has to do with decision-making, not a specific time of day. Maybe try again and think about how the time horizon you're operating on can affect your choices", - "Ha! Time travel is still just science fiction, sorry. Maybe try again and think about how the time horizon you're operating on can affect your choices." - ], - "id": "timePreference", - "question": "What is time preference", - "text": "Time preference is the idea that the amount of time you have to wait for something to happen can affect the decisions you make.\n\nFor example, if you value the present more than the future, you might be more likely to choose something that gives you immediate gratification.\n\nOn the other hand, if you value the future more, you might be willing to wait longer for something that has a bigger benefit in the long term.\n\nThere are many factors that can influence your time preference, such as your personal safety, tax rates, property rights, and the ability to store value reliably.\n\nThe \"hardness\" of money (how well it holds its value over time) is also important because it can encourage people to save, plan, and invest for the future. It's important to note that time preference is not a fixed thing - it can change based on the incentives in your environment.\n", + "questions": { + "opportunityCost": { + "answers": [ + "The cost of not being able to do something else when you choose to do one thing", + "A type of cost that only applies to business owners", + "The cost of buying a new car" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that opportunity cost can help you make better financial decisions by considering the trade-offs involved in different options", + "Wrong! Opportunity cost applies to anyone who makes a choice, not just business owners. Maybe try again and think about the trade-offs involved in decision-making", + "Ha! That's not quite right. The cost of buying a new car is a specific type of expense, not the same thing as opportunity cost. Maybe try again and think about the concept of trade-offs in decision-making." + ], + "question": "What is opportunity cost", + "text": "Opportunity cost is the idea that when you choose to do one thing, you can't do something else instead. In other words, every time you make a financial decision, you have to trade off one option for another.\n\nBitcoin can help you make better financial decisions in the long term because it's a good way to store value (like saving money). This means that if you choose to invest in bitcoin, you might have to give up using that money for other things or opportunities. But if you hold onto your bitcoin, it has the potential to increase in value over time.\n\nThis is especially important right now because the traditional monetary system (called \"fiat\") is not a reliable way to save money - it's designed in a way that causes the value of money to go down over time. So, it's important to make careful financial decisions to preserve your wealth.\n", + "title": "What is opportunity cost" + } + } + } + }, + { + "timePreference": { "title": "Time Preference", - "type": "Text" - }, - { - "answers": [ - "As perfectly mobile capital, Bitcoin alters the logic of sovereign nations to direct international monetary policy by making capital controls impossible to enforce.", - "Due to its fixed supply, the existence of Bitcoin makes it easier for sovereign nations to set fixed exchange rates.", - "Governments will restrict discussion of the Mundell-Fleming Trilemma because speech is easier to censor than cross-border payments." - ], - "feedback": [ - "enforce.", - "The 21 million cap is indeed quite fascinating, but the existence of Bitcoin actually makes it more difficult for nations to set fixed exchange rates. Try again", - "While that's entirely possible of course, that's not the most likeliest outcome here. Try again!" - ], - "id": "impossibleTrinity", - "question": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?", - "text": "The Impossible Trinity, also known as the Mundell-Fleming Trilemma, is a concept that explains the trade-offs involved in setting international monetary policy for a sovereign nation.\n\nIt says that a country can only choose two of the following three options: fixed exchange rates, free capital flows, and independent monetary policy.\n\n These three options cannot be pursued at the same time. This is because a country's capital flows, or the movement of money in and out of the country, can be influenced by the value of its currency and its monetary policy, which sets the rules for how much money is in circulation.\n\n As capital becomes more mobile and can move freely across borders, it is harder for a country to control and direct its capital flows. The rise of bitcoin, a digital currency that is borderless and immune to changes in value, may further challenge a country's ability to set monetary policy.\n", + "questions": { + "timePreference": { + "answers": [ + "The amount of value you place on the present versus the future", + "A preference for doing things at a specific time of day", + "A preference for traveling through time" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that there are many factors that can influence your time preference, such as personal safety, tax rates, property rights, and the ability to store value reliably", + "Wrong! Time preference has to do with decision-making, not a specific time of day. Maybe try again and think about how the time horizon you're operating on can affect your choices", + "Ha! Time travel is still just science fiction, sorry. Maybe try again and think about how the time horizon you're operating on can affect your choices." + ], + "question": "What is time preference", + "text": "Time preference is the idea that the amount of time you have to wait for something to happen can affect the decisions you make.\n\nFor example, if you value the present more than the future, you might be more likely to choose something that gives you immediate gratification.\n\nOn the other hand, if you value the future more, you might be willing to wait longer for something that has a bigger benefit in the long term.\n\nThere are many factors that can influence your time preference, such as your personal safety, tax rates, property rights, and the ability to store value reliably.\n\nThe \"hardness\" of money (how well it holds its value over time) is also important because it can encourage people to save, plan, and invest for the future. It's important to note that time preference is not a fixed thing - it can change based on the incentives in your environment.\n", + "title": "What is time preference" + } + } + } + }, + { + "impossibleTrinity": { "title": "The Impossible Trinity", - "type": "Text" - }, - { - "answers": [ - "The phenomenon of increased consumption of a resource due to increased efficiency", - "A type of fruit named after an economist", - "A paradox that states that the more we have of something, the less we want it" - ], - "feedback": [ - "Correct! Well done, you have a firm understanding of the Jevons Paradox. Fun fact: The phenomenon is named after William Stanley Jevons, an English economist who first described it in the 19th century", - "Wrong! Sorry, there is no such thing as a Jevons fruit. You'll have to find your sustenance elsewhere", - "Sorry, that's not quite right. The Jevons Paradox actually states that increased efficiency can lead to increased consumption, not decreased desire for a resource. But hey, at least you're thinking paradoxically!" - ], - "id": "jevonsParadox", - "question": "What is the Jevons Paradox", - "text": "The Jevons Paradox is a phenomenon that occurs when we use more of a resource, even when we are using it more efficiently. This happens because increased efficiency often leads to lower costs, which can increase demand for the resource.\n\nOne example of this is the use of coal as an energy source. In the late 1700s, people thought that coal deposits were running out, but James Watt's steam engine made it possible to use coal more efficiently. This led to an increase in the demand for coal, even though it was being used more efficiently. The relationship between energy and money is also important to consider.\n\nSome people have proposed using energy as a measure of value for money, but this has not been successful in practice. Bitcoin, on the other hand, uses a system called proof of work, which incentivizes people to use energy efficiently in order to earn rewards.\n\nWhile some people criticize the use of energy in this way, it is important to remember that humans are constantly finding new ways to generate energy, and we should not assume that energy is a fixed or limited resource.\n", + "questions": { + "impossibleTrinity": { + "answers": [ + "As perfectly mobile capital, Bitcoin alters the logic of sovereign nations to direct international monetary policy by making capital controls impossible to enforce.", + "Due to its fixed supply, the existence of Bitcoin makes it easier for sovereign nations to set fixed exchange rates.", + "Governments will restrict discussion of the Mundell-Fleming Trilemma because speech is easier to censor than cross-border payments." + ], + "feedback": [ + "enforce.", + "The 21 million cap is indeed quite fascinating, but the existence of Bitcoin actually makes it more difficult for nations to set fixed exchange rates. Try again", + "While that's entirely possible of course, that's not the most likeliest outcome here. Try again!" + ], + "question": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?", + "text": "The Impossible Trinity, also known as the Mundell-Fleming Trilemma, is a concept that explains the trade-offs involved in setting international monetary policy for a sovereign nation.\n\nIt says that a country can only choose two of the following three options: fixed exchange rates, free capital flows, and independent monetary policy.\n\n These three options cannot be pursued at the same time. This is because a country's capital flows, or the movement of money in and out of the country, can be influenced by the value of its currency and its monetary policy, which sets the rules for how much money is in circulation.\n\n As capital becomes more mobile and can move freely across borders, it is harder for a country to control and direct its capital flows. The rise of bitcoin, a digital currency that is borderless and immune to changes in value, may further challenge a country's ability to set monetary policy.\n", + "title": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?" + } + } + } + }, + { + "jevonsParadox": { "title": "Jevons Paradox", - "type": "Text" - }, - { - "answers": [ - "A power law in economics", - "A type of pasta dish", - "A way to fold laundry" - ], - "feedback": [ - "Good job! The Pareto principle, also known as the 80/20 rule, is a power law that explains how a small amount of something (like 20% of producers) can have a big impact (like 80% of the market share).", - "Sorry, but it looks like you need to brush up on your economics and not your culinary skills. The Pareto principle is not a type of pasta, although it might be a tasty way to remember it", - "I'm afraid you're going to have to put away the laundry and pay a little more attention to economics. The Pareto principle is not a way to fold clothes, but it is a useful way to understand how small changes in one thing can lead to bigger changes in another." - ], - "id": "powerLaws", - "question": "What is the Pareto principle, also known as the 80/20 rule, an example of", - "text": "Power laws are a way to understand how two things are related. When one thing changes, the other thing changes in a way that is related to the first change. Power laws can show up in different areas, like language, biology, and space. Small changes in one thing can often lead to bigger changes in the other thing.\n\nIn economics, power laws are often shown in graphs. One example of a power law is the Pareto principle, which says that about 80% of the results come from 20% of the things that cause them. In a market, this might mean that 20% of the producers make up 80% of the market.\n\nPower laws can also be seen in other parts of bitcoin, like how much power mining pools have or how many hardware wallets different companies sell. They can also be seen in how bitcoin is distributed among different addresses.\n", + "questions": { + "jevonsParadox": { + "answers": [ + "The phenomenon of increased consumption of a resource due to increased efficiency", + "A type of fruit named after an economist", + "A paradox that states that the more we have of something, the less we want it" + ], + "feedback": [ + "Correct! Well done, you have a firm understanding of the Jevons Paradox. Fun fact: The phenomenon is named after William Stanley Jevons, an English economist who first described it in the 19th century", + "Wrong! Sorry, there is no such thing as a Jevons fruit. You'll have to find your sustenance elsewhere", + "Sorry, that's not quite right. The Jevons Paradox actually states that increased efficiency can lead to increased consumption, not decreased desire for a resource. But hey, at least you're thinking paradoxically!" + ], + "question": "What is the Jevons Paradox", + "text": "The Jevons Paradox is a phenomenon that occurs when we use more of a resource, even when we are using it more efficiently. This happens because increased efficiency often leads to lower costs, which can increase demand for the resource.\n\nOne example of this is the use of coal as an energy source. In the late 1700s, people thought that coal deposits were running out, but James Watt's steam engine made it possible to use coal more efficiently. This led to an increase in the demand for coal, even though it was being used more efficiently. The relationship between energy and money is also important to consider.\n\nSome people have proposed using energy as a measure of value for money, but this has not been successful in practice. Bitcoin, on the other hand, uses a system called proof of work, which incentivizes people to use energy efficiently in order to earn rewards.\n\nWhile some people criticize the use of energy in this way, it is important to remember that humans are constantly finding new ways to generate energy, and we should not assume that energy is a fixed or limited resource.\n", + "title": "What is the Jevons Paradox" + } + } + } + }, + { + "powerLaws": { "title": "Power Laws", - "type": "Text" - }, - { - "answers": [ - "Because it is the most liquid and the best way to store value", - "Because it tastes the best", - "Because it has the prettiest color" - ], - "feedback": [ - "You got it right. The main reason that people usually agree on using one type of money in a certain area is because it is the most liquid and the best way to store value", - "I'm afraid you might be confusing money with your favorite flavor of ice cream. Try again", - "Sorry, but the color of money is not the most important factor in determining which type to use. Better luck next time!" - ], - "id": "winnerTakeAll", - "question": "What is the main reason that people usually agree on using one type of money in a certain area", - "text": "The concept of winner-take-all effects is when only one product or service is the best and everyone wants to use it. This can happen in markets where a small advantage can lead to getting all of the business.\n\nMoney is a network like this, where only one type of money is used in a certain area because it is the most useful and has the most options for trading with other people. This happens because people want to use the money that will give them the most options and be the most useful in a lot of different situations.\n\nMoney is also a good way to store value over a long time. When it comes to monetary systems, people usually agree on using one type of money because it is the most liquid, or easiest to use, and it is the best way to store value.\n", + "questions": { + "powerLaws": { + "answers": [ + "A power law in economics", + "A type of pasta dish", + "A way to fold laundry" + ], + "feedback": [ + "Good job! The Pareto principle, also known as the 80/20 rule, is a power law that explains how a small amount of something (like 20% of producers) can have a big impact (like 80% of the market share).", + "Sorry, but it looks like you need to brush up on your economics and not your culinary skills. The Pareto principle is not a type of pasta, although it might be a tasty way to remember it", + "I'm afraid you're going to have to put away the laundry and pay a little more attention to economics. The Pareto principle is not a way to fold clothes, but it is a useful way to understand how small changes in one thing can lead to bigger changes in another." + ], + "question": "What is the Pareto principle, also known as the 80/20 rule, an example of", + "text": "Power laws are a way to understand how two things are related. When one thing changes, the other thing changes in a way that is related to the first change. Power laws can show up in different areas, like language, biology, and space. Small changes in one thing can often lead to bigger changes in the other thing.\n\nIn economics, power laws are often shown in graphs. One example of a power law is the Pareto principle, which says that about 80% of the results come from 20% of the things that cause them. In a market, this might mean that 20% of the producers make up 80% of the market.\n\nPower laws can also be seen in other parts of bitcoin, like how much power mining pools have or how many hardware wallets different companies sell. They can also be seen in how bitcoin is distributed among different addresses.\n", + "title": "What is the Pareto principle, also known as the 80/20 rule, an example of" + } + } + } + }, + { + "winnerTakeAll": { "title": "Winner-Take-All Effects", - "type": "Text" + "questions": { + "winnerTakeAll": { + "answers": [ + "Because it is the most liquid and the best way to store value", + "Because it tastes the best", + "Because it has the prettiest color" + ], + "feedback": [ + "You got it right. The main reason that people usually agree on using one type of money in a certain area is because it is the most liquid and the best way to store value", + "I'm afraid you might be confusing money with your favorite flavor of ice cream. Try again", + "Sorry, but the color of money is not the most important factor in determining which type to use. Better luck next time!" + ], + "question": "What is the main reason that people usually agree on using one type of money in a certain area", + "text": "The concept of winner-take-all effects is when only one product or service is the best and everyone wants to use it. This can happen in markets where a small advantage can lead to getting all of the business.\n\nMoney is a network like this, where only one type of money is used in a certain area because it is the most useful and has the most options for trading with other people. This happens because people want to use the money that will give them the most options and be the most useful in a lot of different situations.\n\nMoney is also a good way to store value over a long time. When it comes to monetary systems, people usually agree on using one type of money because it is the most liquid, or easiest to use, and it is the best way to store value.\n", + "title": "What is the main reason that people usually agree on using one type of money in a certain area" + } + } } - ], - "meta": { - "id": "BitcoinandEconomicsII", - "title": "Bitcoin and Economics II" } -} +] diff --git a/chapter-602-bitcoin-and-economics-ii/602-es-combined.json b/chapter-602-bitcoin-and-economics-ii/602-es-combined.json deleted file mode 100644 index f4bbf80..0000000 --- a/chapter-602-bitcoin-and-economics-ii/602-es-combined.json +++ /dev/null @@ -1,110 +0,0 @@ -{ - "content": [ - { - "answers": [ - "El costo de no poder hacer otra cosa cuando eliges hacer una cosa", - "Un tipo de costo que solo se aplica a los due\u00f1os de negocios.", - "El costo de comprar un auto nuevo." - ], - "feedback": [ - "\u00a1Felicidades! Lo hiciste bien. \u00bfSab\u00eda que el costo de oportunidad puede ayudarle a tomar mejores decisiones financieras al considerar las compensaciones involucradas en diferentes opciones?", - "\u00a1Equivocado! El costo de oportunidad se aplica a cualquiera que tome una decisi\u00f3n, no s\u00f3lo a los due\u00f1os de negocios. Tal vez intente nuevamente y piense en las compensaciones involucradas en la toma de decisiones.", - "\u00a1Ja! Eso no es del todo bien. El costo de comprar un autom\u00f3vil nuevo es un tipo espec\u00edfico de gasto, no es lo mismo que el costo de oportunidad. Tal vez intente nuevamente y piense en el concepto de compensaciones en la toma de decisiones." - ], - "id": "costo de oportunidad", - "question": "\u00bfQu\u00e9 es el costo de oportunidad?", - "text": "El costo de oportunidad es la idea de que cuando eliges hacer una cosa, no puedes hacer otra. En otras palabras, cada vez que tomas una decisi\u00f3n financiera, tienes que intercambiar una opci\u00f3n por otra.\n\nBitcoin puede ayudarle a tomar mejores decisiones financieras a largo plazo porque es una buena forma de almacenar valor (como ahorrar dinero). Esto significa que si eliges invertir en bitcoins, es posible que tengas que dejar de usar ese dinero para otras cosas u oportunidades. Pero si conserva su bitcoin, tiene el potencial de aumentar su valor con el tiempo.\n\nEsto es especialmente importante en este momento porque el sistema monetario tradicional (llamado \"fiat\") no es una forma confiable de ahorrar dinero: est\u00e1 dise\u00f1ado de una manera que hace que el valor del dinero baje con el tiempo. Por eso, es importante tomar decisiones financieras cuidadosas para preservar su patrimonio.\n", - "title": "Costo de oportunidad", - "type": "Texto" - }, - { - "answers": [ - "La cantidad de valor que le das al presente frente al futuro.", - "Preferencia por hacer las cosas a una hora espec\u00edfica del d\u00eda.", - "Preferencia por viajar en el tiempo" - ], - "feedback": [ - "\u00a1Felicidades! Lo hiciste bien. \u00bfSab\u00eda que hay muchos factores que pueden influir en su preferencia temporal, como la seguridad personal, las tasas impositivas, los derechos de propiedad y la capacidad de almacenar valor de manera confiable?", - "\u00a1Equivocado! La preferencia horaria tiene que ver con la toma de decisiones, no con una hora espec\u00edfica del d\u00eda. Tal vez intente nuevamente y piense en c\u00f3mo el horizonte temporal en el que est\u00e1 operando puede afectar sus elecciones.", - "\u00a1Ja! Los viajes en el tiempo siguen siendo ciencia ficci\u00f3n, lo siento. Tal vez intente nuevamente y piense en c\u00f3mo el horizonte temporal en el que est\u00e1 operando puede afectar sus elecciones." - ], - "id": "preferencia de tiempo", - "question": "\u00bfQu\u00e9 es la preferencia temporal?", - "text": "La preferencia temporal es la idea de que la cantidad de tiempo que tienes que esperar hasta que suceda algo puede afectar las decisiones que tomas.\n\nPor ejemplo, si valoras m\u00e1s el presente que el futuro, es m\u00e1s probable que elijas algo que te proporcione una gratificaci\u00f3n inmediata.\n\nPor otro lado, si valoras m\u00e1s el futuro, es posible que est\u00e9s dispuesto a esperar m\u00e1s por algo que tenga un mayor beneficio a largo plazo.\n\nHay muchos factores que pueden influir en su preferencia temporal, como su seguridad personal, tasas impositivas, derechos de propiedad y la capacidad de almacenar valor de manera confiable.\n\nLa \"dureza\" del dinero (qu\u00e9 tan bien mantiene su valor en el tiempo) tambi\u00e9n es importante porque puede alentar a las personas a ahorrar, planificar e invertir para el futuro. Es importante tener en cuenta que la preferencia temporal no es algo fijo: puede cambiar seg\u00fan los incentivos de su entorno.\n", - "title": "Preferencia de tiempo", - "type": "Texto" - }, - { - "answers": [ - "Como capital perfectamente m\u00f3vil, Bitcoin altera la l\u00f3gica de las naciones soberanas para dirigir la pol\u00edtica monetaria internacional al hacer que los controles de capital sean imposibles de aplicar.", - "Debido a su oferta fija, la existencia de Bitcoin facilita que las naciones soberanas establezcan tipos de cambio fijos.", - "Los gobiernos restringir\u00e1n la discusi\u00f3n sobre el trilema Mundell-Fleming porque la expresi\u00f3n es m\u00e1s f\u00e1cil de censurar que los pagos transfronterizos." - ], - "feedback": [ - "hacer cumplir.", - "El l\u00edmite de 21 millones es realmente fascinante, pero la existencia de Bitcoin en realidad hace que sea m\u00e1s dif\u00edcil para las naciones establecer tipos de cambio fijos. Intentar otra vez", - "Si bien eso es completamente posible, por supuesto, no es el resultado m\u00e1s probable en este caso. \u00a1Intentar otra vez!" - ], - "id": "imposibleTrinidad", - "question": "\u00bfC\u00f3mo afecta la existencia de Bitcoin al trilema Mundell-Fleming?", - "text": "La Trinidad Imposible, tambi\u00e9n conocida como el Trilema Mundell-Fleming, es un concepto que explica las compensaciones involucradas en el establecimiento de la pol\u00edtica monetaria internacional para una naci\u00f3n soberana.\n\nDice que un pa\u00eds s\u00f3lo puede elegir dos de las tres opciones siguientes: tipos de cambio fijos, flujos de capital libres y pol\u00edtica monetaria independiente.\n\n Estas tres opciones no pueden perseguirse al mismo tiempo. Esto se debe a que los flujos de capital de un pa\u00eds, o el movimiento de dinero dentro y fuera del pa\u00eds, pueden verse influenciados por el valor de su moneda y su pol\u00edtica monetaria, que establece las reglas sobre cu\u00e1nto dinero est\u00e1 en circulaci\u00f3n.\n\n A medida que el capital se vuelve m\u00e1s m\u00f3vil y puede moverse libremente a trav\u00e9s de las fronteras, a un pa\u00eds le resulta m\u00e1s dif\u00edcil controlar y dirigir sus flujos de capital. El auge del bitcoin, una moneda digital sin fronteras e inmune a los cambios de valor, puede desafiar a\u00fan m\u00e1s la capacidad de un pa\u00eds para establecer una pol\u00edtica monetaria.\n", - "title": "La Trinidad imposible", - "type": "Texto" - }, - { - "answers": [ - "El fen\u00f3meno del mayor consumo de un recurso debido a una mayor eficiencia.", - "Un tipo de fruta que lleva el nombre de un economista.", - "Una paradoja que afirma que cuanto m\u00e1s tenemos de algo, menos lo queremos" - ], - "feedback": [ - "\u00a1Correcto! Bien hecho, tienes un conocimiento firme de la paradoja de Jevons. Dato curioso: el fen\u00f3meno lleva el nombre de William Stanley Jevons, un economista ingl\u00e9s que lo describi\u00f3 por primera vez en el siglo XIX.", - "\u00a1Equivocado! Lo sentimos, no existe la fruta Jevons. Tendr\u00e1s que encontrar tu sustento en otra parte.", - "Lo siento, eso no est\u00e1 del todo bien. La paradoja de Jevons en realidad afirma que una mayor eficiencia puede conducir a un mayor consumo, no a una disminuci\u00f3n del deseo de un recurso. Pero bueno, \u00a1al menos est\u00e1s pensando parad\u00f3jicamente!" - ], - "id": "jevonsParadoja", - "question": "\u00bfQu\u00e9 es la paradoja de Jevons?", - "text": "La paradoja de Jevons es un fen\u00f3meno que ocurre cuando usamos m\u00e1s un recurso, incluso cuando lo estamos usando de manera m\u00e1s eficiente. Esto sucede porque una mayor eficiencia a menudo conduce a menores costos, lo que puede aumentar la demanda del recurso.\n\nUn ejemplo de esto es el uso del carb\u00f3n como fuente de energ\u00eda. A finales del siglo XVIII, la gente pensaba que los dep\u00f3sitos de carb\u00f3n se estaban agotando, pero la m\u00e1quina de vapor de James Watt hizo posible utilizar el carb\u00f3n de manera m\u00e1s eficiente. Esto provoc\u00f3 un aumento de la demanda de carb\u00f3n, a pesar de que se utilizaba de forma m\u00e1s eficiente. Tambi\u00e9n es importante considerar la relaci\u00f3n entre energ\u00eda y dinero.\n\nAlgunas personas han propuesto utilizar la energ\u00eda como medida del valor del dinero, pero esto no ha tenido \u00e9xito en la pr\u00e1ctica. Bitcoin, por otro lado, utiliza un sistema llamado prueba de trabajo, que incentiva a las personas a usar la energ\u00eda de manera eficiente para obtener recompensas.\n\nSi bien algunas personas critican el uso de la energ\u00eda de esta manera, es importante recordar que los humanos constantemente encontramos nuevas formas de generar energ\u00eda y no debemos asumir que la energ\u00eda es un recurso fijo o limitado.\n", - "title": "Paradoja de Jevons", - "type": "Texto" - }, - { - "answers": [ - "Una ley de potencia en econom\u00eda.", - "Un tipo de plato de pasta.", - "Una forma de doblar la ropa" - ], - "feedback": [ - "\u00a1Buen trabajo! El principio de Pareto, tambi\u00e9n conocido como regla 80\/20, es una ley potencial que explica c\u00f3mo una peque\u00f1a cantidad de algo (como el 20% de los productores) puede tener un gran impacto (como el 80% de la cuota de mercado).", - "Lo siento, pero parece que necesitas repasar tus habilidades econ\u00f3micas y no tus habilidades culinarias. El principio de Pareto no es un tipo de pasta, aunque puede ser una forma sabrosa de recordarlo", - "Me temo que tendr\u00e1s que guardar la ropa y prestar un poco m\u00e1s de atenci\u00f3n a la econom\u00eda. El principio de Pareto no es una forma de doblar la ropa, pero es una forma \u00fatil de comprender c\u00f3mo peque\u00f1os cambios en una cosa pueden conducir a cambios mayores en otra." - ], - "id": "poderLeyes", - "question": "\u00bfQu\u00e9 es el principio de Pareto, tambi\u00e9n conocido como regla 80\/20, un ejemplo de", - "text": "Las leyes de potencia son una forma de entender c\u00f3mo se relacionan dos cosas. Cuando una cosa cambia, la otra cambia de una manera relacionada con el primer cambio. Las leyes de potencia pueden aparecer en diferentes \u00e1reas, como el lenguaje, la biolog\u00eda y el espacio. Peque\u00f1os cambios en una cosa a menudo pueden conducir a cambios mayores en otra cosa.\n\nEn econom\u00eda, las leyes de potencia a menudo se muestran en gr\u00e1ficos. Un ejemplo de ley potencial es el principio de Pareto, que dice que alrededor del 80% de los resultados provienen del 20% de las cosas que los causan. En un mercado, esto podr\u00eda significar que el 20% de los productores constituyen el 80% del mercado.\n\nLas leyes de energ\u00eda tambi\u00e9n se pueden ver en otras partes de bitcoin, como la cantidad de energ\u00eda que tienen los grupos de miner\u00eda o la cantidad de billeteras de hardware que venden las diferentes empresas. Tambi\u00e9n se pueden ver en c\u00f3mo se distribuye bitcoin entre diferentes direcciones.\n", - "title": "Leyes de poder", - "type": "Texto" - }, - { - "answers": [ - "Porque es la forma m\u00e1s l\u00edquida y la mejor de almacenar valor.", - "Porque sabe mejor", - "Porque tiene el color m\u00e1s bonito." - ], - "feedback": [ - "Lo hiciste bien. La raz\u00f3n principal por la que la gente suele estar de acuerdo en usar un tipo de dinero en un \u00e1rea determinada es porque es la forma m\u00e1s l\u00edquida y mejor de almacenar valor.", - "Me temo que podr\u00edas estar confundiendo dinero con tu sabor de helado favorito. Intentar otra vez", - "Lo sentimos, pero el color del dinero no es el factor m\u00e1s importante para determinar qu\u00e9 tipo usar. \u00a1Mejor suerte la pr\u00f3xima vez!" - ], - "id": "El ganador lo toma todo", - "question": "\u00bfCu\u00e1l es la raz\u00f3n principal por la que la gente suele estar de acuerdo en utilizar un tipo de dinero en un \u00e1rea determinada?", - "text": "El concepto de efectos en el que el ganador se lo lleva todo se produce cuando s\u00f3lo un producto o servicio es el mejor y todos quieren utilizarlo. Esto puede suceder en mercados donde una peque\u00f1a ventaja puede llevar a quedarse con todo el negocio.\n\nEl dinero es una red como esta, donde solo se usa un tipo de dinero en un \u00e1rea determinada porque es el m\u00e1s \u00fatil y tiene m\u00e1s opciones para comerciar con otras personas. Esto sucede porque las personas quieren utilizar el dinero que les brinde m\u00e1s opciones y que sea m\u00e1s \u00fatil en muchas situaciones diferentes.\n\nEl dinero tambi\u00e9n es una buena manera de almacenar valor durante mucho tiempo. Cuando se trata de sistemas monetarios, la gente suele estar de acuerdo en utilizar un tipo de dinero porque es el m\u00e1s l\u00edquido o el m\u00e1s f\u00e1cil de usar, y es la mejor manera de almacenar valor.\n", - "title": "Efectos de que el ganador se lo lleva todo", - "type": "Texto" - } - ], - "meta": { - "id": "BitcoinyEconom\u00edaII", - "title": "Bitcoin y Econom\u00eda II" - } -} \ No newline at end of file diff --git a/chapter-602-bitcoin-and-economics-ii/602.01-lesson-opportunity-cost.json b/chapter-602-bitcoin-and-economics-ii/602.01-lesson-opportunity-cost.json index 7cae4a7..7846326 100644 --- a/chapter-602-bitcoin-and-economics-ii/602.01-lesson-opportunity-cost.json +++ b/chapter-602-bitcoin-and-economics-ii/602.01-lesson-opportunity-cost.json @@ -1,17 +1,22 @@ { - "answers": [ - "The cost of not being able to do something else when you choose to do one thing", - "A type of cost that only applies to business owners", - "The cost of buying a new car" - ], - "feedback": [ - "Congratulations! You got it right. Did you know that opportunity cost can help you make better financial decisions by considering the trade-offs involved in different options", - "Wrong! Opportunity cost applies to anyone who makes a choice, not just business owners. Maybe try again and think about the trade-offs involved in decision-making", - "Ha! That's not quite right. The cost of buying a new car is a specific type of expense, not the same thing as opportunity cost. Maybe try again and think about the concept of trade-offs in decision-making." - ], - "id": "opportunityCost", - "question": "What is opportunity cost", - "text": "Opportunity cost is the idea that when you choose to do one thing, you can't do something else instead. In other words, every time you make a financial decision, you have to trade off one option for another.\n\nBitcoin can help you make better financial decisions in the long term because it's a good way to store value (like saving money). This means that if you choose to invest in bitcoin, you might have to give up using that money for other things or opportunities. But if you hold onto your bitcoin, it has the potential to increase in value over time.\n\nThis is especially important right now because the traditional monetary system (called \"fiat\") is not a reliable way to save money - it's designed in a way that causes the value of money to go down over time. So, it's important to make careful financial decisions to preserve your wealth.\n", - "title": "Opportunity Cost", - "type": "Text" + "opportunityCost": { + "title": "Opportunity Cost", + "questions": { + "opportunityCost": { + "answers": [ + "The cost of not being able to do something else when you choose to do one thing", + "A type of cost that only applies to business owners", + "The cost of buying a new car" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that opportunity cost can help you make better financial decisions by considering the trade-offs involved in different options", + "Wrong! Opportunity cost applies to anyone who makes a choice, not just business owners. Maybe try again and think about the trade-offs involved in decision-making", + "Ha! That's not quite right. The cost of buying a new car is a specific type of expense, not the same thing as opportunity cost. Maybe try again and think about the concept of trade-offs in decision-making." + ], + "question": "What is opportunity cost", + "text": "Opportunity cost is the idea that when you choose to do one thing, you can't do something else instead. In other words, every time you make a financial decision, you have to trade off one option for another.\n\nBitcoin can help you make better financial decisions in the long term because it's a good way to store value (like saving money). This means that if you choose to invest in bitcoin, you might have to give up using that money for other things or opportunities. But if you hold onto your bitcoin, it has the potential to increase in value over time.\n\nThis is especially important right now because the traditional monetary system (called \"fiat\") is not a reliable way to save money - it's designed in a way that causes the value of money to go down over time. So, it's important to make careful financial decisions to preserve your wealth.\n", + "title": "What is opportunity cost" + } + } + } } diff --git a/chapter-602-bitcoin-and-economics-ii/602.02-lesson-time-preference.json b/chapter-602-bitcoin-and-economics-ii/602.02-lesson-time-preference.json index ededeb8..69ac58d 100644 --- a/chapter-602-bitcoin-and-economics-ii/602.02-lesson-time-preference.json +++ b/chapter-602-bitcoin-and-economics-ii/602.02-lesson-time-preference.json @@ -1,17 +1,22 @@ { - "answers": [ - "The amount of value you place on the present versus the future", - "A preference for doing things at a specific time of day", - "A preference for traveling through time" - ], - "feedback": [ - "Congratulations! You got it right. Did you know that there are many factors that can influence your time preference, such as personal safety, tax rates, property rights, and the ability to store value reliably", - "Wrong! Time preference has to do with decision-making, not a specific time of day. Maybe try again and think about how the time horizon you're operating on can affect your choices", - "Ha! Time travel is still just science fiction, sorry. Maybe try again and think about how the time horizon you're operating on can affect your choices." - ], - "id": "timePreference", - "question": "What is time preference", - "text": "Time preference is the idea that the amount of time you have to wait for something to happen can affect the decisions you make.\n\nFor example, if you value the present more than the future, you might be more likely to choose something that gives you immediate gratification.\n\nOn the other hand, if you value the future more, you might be willing to wait longer for something that has a bigger benefit in the long term.\n\nThere are many factors that can influence your time preference, such as your personal safety, tax rates, property rights, and the ability to store value reliably.\n\nThe \"hardness\" of money (how well it holds its value over time) is also important because it can encourage people to save, plan, and invest for the future. It's important to note that time preference is not a fixed thing - it can change based on the incentives in your environment.\n", - "title": "Time Preference", - "type": "Text" + "timePreference": { + "title": "Time Preference", + "questions": { + "timePreference": { + "answers": [ + "The amount of value you place on the present versus the future", + "A preference for doing things at a specific time of day", + "A preference for traveling through time" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that there are many factors that can influence your time preference, such as personal safety, tax rates, property rights, and the ability to store value reliably", + "Wrong! Time preference has to do with decision-making, not a specific time of day. Maybe try again and think about how the time horizon you're operating on can affect your choices", + "Ha! Time travel is still just science fiction, sorry. Maybe try again and think about how the time horizon you're operating on can affect your choices." + ], + "question": "What is time preference", + "text": "Time preference is the idea that the amount of time you have to wait for something to happen can affect the decisions you make.\n\nFor example, if you value the present more than the future, you might be more likely to choose something that gives you immediate gratification.\n\nOn the other hand, if you value the future more, you might be willing to wait longer for something that has a bigger benefit in the long term.\n\nThere are many factors that can influence your time preference, such as your personal safety, tax rates, property rights, and the ability to store value reliably.\n\nThe \"hardness\" of money (how well it holds its value over time) is also important because it can encourage people to save, plan, and invest for the future. It's important to note that time preference is not a fixed thing - it can change based on the incentives in your environment.\n", + "title": "What is time preference" + } + } + } } diff --git a/chapter-602-bitcoin-and-economics-ii/602.03-lesson-impossible-trinity.json b/chapter-602-bitcoin-and-economics-ii/602.03-lesson-impossible-trinity.json index 1a78d39..e575315 100644 --- a/chapter-602-bitcoin-and-economics-ii/602.03-lesson-impossible-trinity.json +++ b/chapter-602-bitcoin-and-economics-ii/602.03-lesson-impossible-trinity.json @@ -1,17 +1,22 @@ { - "answers": [ - "As perfectly mobile capital, Bitcoin alters the logic of sovereign nations to direct international monetary policy by making capital controls impossible to enforce.", - "Due to its fixed supply, the existence of Bitcoin makes it easier for sovereign nations to set fixed exchange rates.", - "Governments will restrict discussion of the Mundell-Fleming Trilemma because speech is easier to censor than cross-border payments." - ], - "feedback": [ - "enforce.", - "The 21 million cap is indeed quite fascinating, but the existence of Bitcoin actually makes it more difficult for nations to set fixed exchange rates. Try again", - "While that's entirely possible of course, that's not the most likeliest outcome here. Try again!" - ], - "id": "impossibleTrinity", - "question": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?", - "text": "The Impossible Trinity, also known as the Mundell-Fleming Trilemma, is a concept that explains the trade-offs involved in setting international monetary policy for a sovereign nation.\n\nIt says that a country can only choose two of the following three options: fixed exchange rates, free capital flows, and independent monetary policy.\n\n These three options cannot be pursued at the same time. This is because a country's capital flows, or the movement of money in and out of the country, can be influenced by the value of its currency and its monetary policy, which sets the rules for how much money is in circulation.\n\n As capital becomes more mobile and can move freely across borders, it is harder for a country to control and direct its capital flows. The rise of bitcoin, a digital currency that is borderless and immune to changes in value, may further challenge a country's ability to set monetary policy.\n", - "title": "The Impossible Trinity", - "type": "Text" + "impossibleTrinity": { + "title": "The Impossible Trinity", + "questions": { + "impossibleTrinity": { + "answers": [ + "As perfectly mobile capital, Bitcoin alters the logic of sovereign nations to direct international monetary policy by making capital controls impossible to enforce.", + "Due to its fixed supply, the existence of Bitcoin makes it easier for sovereign nations to set fixed exchange rates.", + "Governments will restrict discussion of the Mundell-Fleming Trilemma because speech is easier to censor than cross-border payments." + ], + "feedback": [ + "enforce.", + "The 21 million cap is indeed quite fascinating, but the existence of Bitcoin actually makes it more difficult for nations to set fixed exchange rates. Try again", + "While that's entirely possible of course, that's not the most likeliest outcome here. Try again!" + ], + "question": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?", + "text": "The Impossible Trinity, also known as the Mundell-Fleming Trilemma, is a concept that explains the trade-offs involved in setting international monetary policy for a sovereign nation.\n\nIt says that a country can only choose two of the following three options: fixed exchange rates, free capital flows, and independent monetary policy.\n\n These three options cannot be pursued at the same time. This is because a country's capital flows, or the movement of money in and out of the country, can be influenced by the value of its currency and its monetary policy, which sets the rules for how much money is in circulation.\n\n As capital becomes more mobile and can move freely across borders, it is harder for a country to control and direct its capital flows. The rise of bitcoin, a digital currency that is borderless and immune to changes in value, may further challenge a country's ability to set monetary policy.\n", + "title": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?" + } + } + } } diff --git a/chapter-602-bitcoin-and-economics-ii/602.04-lesson-jevons-paradox.json b/chapter-602-bitcoin-and-economics-ii/602.04-lesson-jevons-paradox.json index f03b493..ef47580 100644 --- a/chapter-602-bitcoin-and-economics-ii/602.04-lesson-jevons-paradox.json +++ b/chapter-602-bitcoin-and-economics-ii/602.04-lesson-jevons-paradox.json @@ -1,17 +1,22 @@ { - "answers": [ - "The phenomenon of increased consumption of a resource due to increased efficiency", - "A type of fruit named after an economist", - "A paradox that states that the more we have of something, the less we want it" - ], - "feedback": [ - "Correct! Well done, you have a firm understanding of the Jevons Paradox. Fun fact: The phenomenon is named after William Stanley Jevons, an English economist who first described it in the 19th century", - "Wrong! Sorry, there is no such thing as a Jevons fruit. You'll have to find your sustenance elsewhere", - "Sorry, that's not quite right. The Jevons Paradox actually states that increased efficiency can lead to increased consumption, not decreased desire for a resource. But hey, at least you're thinking paradoxically!" - ], - "id": "jevonsParadox", - "question": "What is the Jevons Paradox", - "text": "The Jevons Paradox is a phenomenon that occurs when we use more of a resource, even when we are using it more efficiently. This happens because increased efficiency often leads to lower costs, which can increase demand for the resource.\n\nOne example of this is the use of coal as an energy source. In the late 1700s, people thought that coal deposits were running out, but James Watt's steam engine made it possible to use coal more efficiently. This led to an increase in the demand for coal, even though it was being used more efficiently. The relationship between energy and money is also important to consider.\n\nSome people have proposed using energy as a measure of value for money, but this has not been successful in practice. Bitcoin, on the other hand, uses a system called proof of work, which incentivizes people to use energy efficiently in order to earn rewards.\n\nWhile some people criticize the use of energy in this way, it is important to remember that humans are constantly finding new ways to generate energy, and we should not assume that energy is a fixed or limited resource.\n", - "title": "Jevons Paradox", - "type": "Text" + "jevonsParadox": { + "title": "Jevons Paradox", + "questions": { + "jevonsParadox": { + "answers": [ + "The phenomenon of increased consumption of a resource due to increased efficiency", + "A type of fruit named after an economist", + "A paradox that states that the more we have of something, the less we want it" + ], + "feedback": [ + "Correct! Well done, you have a firm understanding of the Jevons Paradox. Fun fact: The phenomenon is named after William Stanley Jevons, an English economist who first described it in the 19th century", + "Wrong! Sorry, there is no such thing as a Jevons fruit. You'll have to find your sustenance elsewhere", + "Sorry, that's not quite right. The Jevons Paradox actually states that increased efficiency can lead to increased consumption, not decreased desire for a resource. But hey, at least you're thinking paradoxically!" + ], + "question": "What is the Jevons Paradox", + "text": "The Jevons Paradox is a phenomenon that occurs when we use more of a resource, even when we are using it more efficiently. This happens because increased efficiency often leads to lower costs, which can increase demand for the resource.\n\nOne example of this is the use of coal as an energy source. In the late 1700s, people thought that coal deposits were running out, but James Watt's steam engine made it possible to use coal more efficiently. This led to an increase in the demand for coal, even though it was being used more efficiently. The relationship between energy and money is also important to consider.\n\nSome people have proposed using energy as a measure of value for money, but this has not been successful in practice. Bitcoin, on the other hand, uses a system called proof of work, which incentivizes people to use energy efficiently in order to earn rewards.\n\nWhile some people criticize the use of energy in this way, it is important to remember that humans are constantly finding new ways to generate energy, and we should not assume that energy is a fixed or limited resource.\n", + "title": "What is the Jevons Paradox" + } + } + } } diff --git a/chapter-602-bitcoin-and-economics-ii/602.05-lesson-powerlaws.json b/chapter-602-bitcoin-and-economics-ii/602.05-lesson-powerlaws.json index aa9e627..ffeb513 100644 --- a/chapter-602-bitcoin-and-economics-ii/602.05-lesson-powerlaws.json +++ b/chapter-602-bitcoin-and-economics-ii/602.05-lesson-powerlaws.json @@ -1,17 +1,22 @@ { - "answers": [ - "A power law in economics", - "A type of pasta dish", - "A way to fold laundry" - ], - "feedback": [ - "Good job! The Pareto principle, also known as the 80/20 rule, is a power law that explains how a small amount of something (like 20% of producers) can have a big impact (like 80% of the market share).", - "Sorry, but it looks like you need to brush up on your economics and not your culinary skills. The Pareto principle is not a type of pasta, although it might be a tasty way to remember it", - "I'm afraid you're going to have to put away the laundry and pay a little more attention to economics. The Pareto principle is not a way to fold clothes, but it is a useful way to understand how small changes in one thing can lead to bigger changes in another." - ], - "id": "powerLaws", - "question": "What is the Pareto principle, also known as the 80/20 rule, an example of", - "text": "Power laws are a way to understand how two things are related. When one thing changes, the other thing changes in a way that is related to the first change. Power laws can show up in different areas, like language, biology, and space. Small changes in one thing can often lead to bigger changes in the other thing.\n\nIn economics, power laws are often shown in graphs. One example of a power law is the Pareto principle, which says that about 80% of the results come from 20% of the things that cause them. In a market, this might mean that 20% of the producers make up 80% of the market.\n\nPower laws can also be seen in other parts of bitcoin, like how much power mining pools have or how many hardware wallets different companies sell. They can also be seen in how bitcoin is distributed among different addresses.\n", - "title": "Power Laws", - "type": "Text" + "powerLaws": { + "title": "Power Laws", + "questions": { + "powerLaws": { + "answers": [ + "A power law in economics", + "A type of pasta dish", + "A way to fold laundry" + ], + "feedback": [ + "Good job! The Pareto principle, also known as the 80/20 rule, is a power law that explains how a small amount of something (like 20% of producers) can have a big impact (like 80% of the market share).", + "Sorry, but it looks like you need to brush up on your economics and not your culinary skills. The Pareto principle is not a type of pasta, although it might be a tasty way to remember it", + "I'm afraid you're going to have to put away the laundry and pay a little more attention to economics. The Pareto principle is not a way to fold clothes, but it is a useful way to understand how small changes in one thing can lead to bigger changes in another." + ], + "question": "What is the Pareto principle, also known as the 80/20 rule, an example of", + "text": "Power laws are a way to understand how two things are related. When one thing changes, the other thing changes in a way that is related to the first change. Power laws can show up in different areas, like language, biology, and space. Small changes in one thing can often lead to bigger changes in the other thing.\n\nIn economics, power laws are often shown in graphs. One example of a power law is the Pareto principle, which says that about 80% of the results come from 20% of the things that cause them. In a market, this might mean that 20% of the producers make up 80% of the market.\n\nPower laws can also be seen in other parts of bitcoin, like how much power mining pools have or how many hardware wallets different companies sell. They can also be seen in how bitcoin is distributed among different addresses.\n", + "title": "What is the Pareto principle, also known as the 80/20 rule, an example of" + } + } + } } diff --git a/chapter-602-bitcoin-and-economics-ii/602.06-lesson-winner-wake-all.json b/chapter-602-bitcoin-and-economics-ii/602.06-lesson-winner-wake-all.json index d99b896..9aecc7b 100644 --- a/chapter-602-bitcoin-and-economics-ii/602.06-lesson-winner-wake-all.json +++ b/chapter-602-bitcoin-and-economics-ii/602.06-lesson-winner-wake-all.json @@ -1,17 +1,22 @@ { - "answers": [ - "Because it is the most liquid and the best way to store value", - "Because it tastes the best", - "Because it has the prettiest color" - ], - "feedback": [ - "You got it right. The main reason that people usually agree on using one type of money in a certain area is because it is the most liquid and the best way to store value", - "I'm afraid you might be confusing money with your favorite flavor of ice cream. Try again", - "Sorry, but the color of money is not the most important factor in determining which type to use. Better luck next time!" - ], - "id": "winnerTakeAll", - "question": "What is the main reason that people usually agree on using one type of money in a certain area", - "text": "The concept of winner-take-all effects is when only one product or service is the best and everyone wants to use it. This can happen in markets where a small advantage can lead to getting all of the business.\n\nMoney is a network like this, where only one type of money is used in a certain area because it is the most useful and has the most options for trading with other people. This happens because people want to use the money that will give them the most options and be the most useful in a lot of different situations.\n\nMoney is also a good way to store value over a long time. When it comes to monetary systems, people usually agree on using one type of money because it is the most liquid, or easiest to use, and it is the best way to store value.\n", - "title": "Winner-Take-All Effects", - "type": "Text" + "winnerTakeAll": { + "title": "Winner-Take-All Effects", + "questions": { + "winnerTakeAll": { + "answers": [ + "Because it is the most liquid and the best way to store value", + "Because it tastes the best", + "Because it has the prettiest color" + ], + "feedback": [ + "You got it right. The main reason that people usually agree on using one type of money in a certain area is because it is the most liquid and the best way to store value", + "I'm afraid you might be confusing money with your favorite flavor of ice cream. Try again", + "Sorry, but the color of money is not the most important factor in determining which type to use. Better luck next time!" + ], + "question": "What is the main reason that people usually agree on using one type of money in a certain area", + "text": "The concept of winner-take-all effects is when only one product or service is the best and everyone wants to use it. This can happen in markets where a small advantage can lead to getting all of the business.\n\nMoney is a network like this, where only one type of money is used in a certain area because it is the most useful and has the most options for trading with other people. This happens because people want to use the money that will give them the most options and be the most useful in a lot of different situations.\n\nMoney is also a good way to store value over a long time. When it comes to monetary systems, people usually agree on using one type of money because it is the most liquid, or easiest to use, and it is the best way to store value.\n", + "title": "What is the main reason that people usually agree on using one type of money in a certain area" + } + } + } } diff --git a/chapter-603-bitcoin-and-economics-iii/603-combined.json b/chapter-603-bitcoin-and-economics-iii/603-combined.json index 63b91ef..de5e8a2 100644 --- a/chapter-603-bitcoin-and-economics-iii/603-combined.json +++ b/chapter-603-bitcoin-and-economics-iii/603-combined.json @@ -1,93 +1,112 @@ -{ - "content": [ - { - "answers": [ - "The belief that one unit of something is always the right amount to use when comparing it to other things", - "The belief that one type of currency is better than all others", - "The belief that all units of something should be the same size" - ], - "feedback": [ - "Yep! Unit bias is the belief that one unit of something is always the right amount to use when comparing it to other things. However, this is not always true and can lead to faulty reasoning. Good job", - "I'm afraid you're mistaken. Unit bias is not about believing that one type of currency is better than all others. Maybe you should stick to counting your coins instead of trying to determine the value of currency", - "Sorry, but unit bias is not about the size of units. Don't worry, though – you can still have fun with different sizes of units by playing with building blocks or LEGO bricks." - ], - "id": "unitBias", - "question": "What is unit bias", - "text": "Unit bias is a type of thinking that assumes that one unit of something is the right amount to use when comparing it to other things.\n\nThis is not always true, especially when it comes to bitcoin. To understand how bitcoin compares to other stores of value, you need to look at the total amount of bitcoin that is available and its value, not just the price of one unit. Bitcoin is very small and can be divided into very small amounts, down to 8 decimal places. This means that you can buy a very small part of a bitcoin if you want.\n\nPeople sometimes think that other cryptocurrencies are cheaper than bitcoin because they cost less per unit, but this is not always true. Bitcoin is a special type of digital money because it is limited in supply and cannot be made in larger amounts.\n\nThis makes it a good way to store value because the value does not decrease over time. When you look at bitcoin in this way, you can see that it is just a small part of the total amount of non-government wealth in the world.\n", +[ + { + "unitBias": { "title": "Unit Bias", - "type": "Text" - }, - { - "answers": [ - "A type of good that people want more of when the price goes up", - "A type of food that tastes better when it is expensive", - "A type of good that people want more of when they have more money to spend" - ], - "feedback": [ - "Exactly! A Veblen good is a type of good that people want more of when the price goes up. This is unusual because most people want things more when they have more money to spend", - "I'm sorry, but a Veblen good is not a type of food. Maybe you should stick to eating your favorite foods instead of trying to understand economics", - "I'm afraid you're mistaken. A Veblen good is not a type of good that people want more of when they have more money to spend. Maybe you should pay more attention to economics instead of just spending your money!" - ], - "id": "veblenGood", - "question": "What is a Veblen good", - "text": "Veblen goods are things that people want more of when the price goes up. Normal goods are things that people usually want more of when they have more money to spend.\n\nVeblen goods are unusual because people want them more when they cost more. These are often luxury goods that are hard to get or that are made in limited quantities. This is done to make them seem special or rare.\n\nSome people might want to buy bitcoin because it is a status symbol, but the main reason people will probably want to buy it is because there is a limited amount of it.\n\nWhen more people want to buy bitcoin, the price goes up and it becomes easier to use. When it is easy to use, more people want to use it. This creates a cycle where the demand for bitcoin increases, the price goes up, and it becomes easier to use.\n", + "questions": { + "unitBias": { + "answers": [ + "The belief that one unit of something is always the right amount to use when comparing it to other things", + "The belief that one type of currency is better than all others", + "The belief that all units of something should be the same size" + ], + "feedback": [ + "Yep! Unit bias is the belief that one unit of something is always the right amount to use when comparing it to other things. However, this is not always true and can lead to faulty reasoning. Good job", + "I'm afraid you're mistaken. Unit bias is not about believing that one type of currency is better than all others. Maybe you should stick to counting your coins instead of trying to determine the value of currency", + "Sorry, but unit bias is not about the size of units. Don't worry, though – you can still have fun with different sizes of units by playing with building blocks or LEGO bricks." + ], + "question": "What is unit bias", + "text": "Unit bias is a type of thinking that assumes that one unit of something is the right amount to use when comparing it to other things.\n\nThis is not always true, especially when it comes to bitcoin. To understand how bitcoin compares to other stores of value, you need to look at the total amount of bitcoin that is available and its value, not just the price of one unit. Bitcoin is very small and can be divided into very small amounts, down to 8 decimal places. This means that you can buy a very small part of a bitcoin if you want.\n\nPeople sometimes think that other cryptocurrencies are cheaper than bitcoin because they cost less per unit, but this is not always true. Bitcoin is a special type of digital money because it is limited in supply and cannot be made in larger amounts.\n\nThis makes it a good way to store value because the value does not decrease over time. When you look at bitcoin in this way, you can see that it is just a small part of the total amount of non-government wealth in the world.\n", + "title": "What is unit bias" + } + } + } + }, + { + "veblenGood": { "title": "Veblen Good", - "type": "Text" - }, - { - "answers": [ - "Distorted price signals", - "Aliens from outer space", - "A lack of unicorns in the economy" - ], - "feedback": [ - "Correct answer! You're on the right track. When prices are not accurate, it can lead to money being put into things that are not very productive. Good job", - "Wrong answer! But at least you're thinking outside the box. Maybe the aliens are controlling the price signals from their spaceship... or maybe not. Better luck next time", - "Sorry, but unicorns do not have the power to control the economy. Although, it would be pretty cool if they did. Better luck next time." - ], - "id": "malinvestment", - "question": "What is the main cause of malinvestment", - "text": "Malinvestment is when the prices of things are not accurate, which leads to money being put into things that are not very productive. This happens because it is hard to predict the future and make good choices about what to do with money.\n\nWhen the market is not working correctly, it is like trying to use a compass when you are not sure where you are. An example of this is when companies can't pay back their loans and have to borrow more money just to stay alive. This is like being a \"zombie\" company.\n\nWhen the government is in charge of these decisions, they might make mistakes because they don't have a good way to tell what is a good investment and what is not. This can lead to things like building a subway without enough trains or building a dam without enough power lines.\n", + "questions": { + "veblenGood": { + "answers": [ + "A type of good that people want more of when the price goes up", + "A type of food that tastes better when it is expensive", + "A type of good that people want more of when they have more money to spend" + ], + "feedback": [ + "Exactly! A Veblen good is a type of good that people want more of when the price goes up. This is unusual because most people want things more when they have more money to spend", + "I'm sorry, but a Veblen good is not a type of food. Maybe you should stick to eating your favorite foods instead of trying to understand economics", + "I'm afraid you're mistaken. A Veblen good is not a type of good that people want more of when they have more money to spend. Maybe you should pay more attention to economics instead of just spending your money!" + ], + "question": "What is a Veblen good", + "text": "Veblen goods are things that people want more of when the price goes up. Normal goods are things that people usually want more of when they have more money to spend.\n\nVeblen goods are unusual because people want them more when they cost more. These are often luxury goods that are hard to get or that are made in limited quantities. This is done to make them seem special or rare.\n\nSome people might want to buy bitcoin because it is a status symbol, but the main reason people will probably want to buy it is because there is a limited amount of it.\n\nWhen more people want to buy bitcoin, the price goes up and it becomes easier to use. When it is easy to use, more people want to use it. This creates a cycle where the demand for bitcoin increases, the price goes up, and it becomes easier to use.\n", + "title": "What is a Veblen good" + } + } + } + }, + { + "malinvestment": { "title": "Malinvestment", - "type": "Text" - }, - { - "answers": [ - "When the potential upside is disproportionately greater than the downside risk", - "When the potential upside and downside are equal", - "When the potential upside is a talking llama and the downside is a mute giraffe" - ], - "feedback": [ - "Correct answer! You got it! An asymmetric payoff means that the potential for gain is much greater than the potential for loss. Good job", - "Wrong answer! An asymmetric payoff means that the potential for gain or loss is uneven, not equal. Better luck next time", - "Wrong answer! While a talking llama and mute giraffe might make for an interesting investment, they do not define an asymmetric payoff. Better luck next time." - ], - "id": "asymmetricPayoff", - "question": "What is an asymmetric payoff in the context of investment decisions", - "text": "When we make decisions about investing our money, we try to predict what might happen and how much money we could make or lose. Sometimes, the amount of money we can make or lose is not equal.\n\nFor example, if we invest in something that has a big chance of making us a lot of money, but only a small chance of losing a little bit of money, we might call this an \"asymmetric payoff.\" This means that the potential upside (how much we can make) is much bigger than the potential downside (how much we can lose).\n\nOne example of this is bitcoin. Bitcoin's potential outcomes are similar to an option, meaning it either succeeds or fails. If it experiences a catastrophic event, the risk of losing money is minimized.\n\nHowever, the potential upside is much greater, as bitcoin's total addressable market has the potential to be a primary global store of wealth.\n\nAsymmetry in payoffs, or uneven potential outcomes, only occurs when there is uneven understanding or information about an investment. If everyone fully understood bitcoin, it would already be widely used as a form of currency.\n\nCurrently, not everyone is aware of bitcoin's potential as a superior monetary option, so the potential for it to increase in value depends on the demand for it increasing without a corresponding increase in the supply.\n", + "questions": { + "malinvestment": { + "answers": [ + "Distorted price signals", + "Aliens from outer space", + "A lack of unicorns in the economy" + ], + "feedback": [ + "Correct answer! You're on the right track. When prices are not accurate, it can lead to money being put into things that are not very productive. Good job", + "Wrong answer! But at least you're thinking outside the box. Maybe the aliens are controlling the price signals from their spaceship... or maybe not. Better luck next time", + "Sorry, but unicorns do not have the power to control the economy. Although, it would be pretty cool if they did. Better luck next time." + ], + "question": "What is the main cause of malinvestment", + "text": "Malinvestment is when the prices of things are not accurate, which leads to money being put into things that are not very productive. This happens because it is hard to predict the future and make good choices about what to do with money.\n\nWhen the market is not working correctly, it is like trying to use a compass when you are not sure where you are. An example of this is when companies can't pay back their loans and have to borrow more money just to stay alive. This is like being a \"zombie\" company.\n\nWhen the government is in charge of these decisions, they might make mistakes because they don't have a good way to tell what is a good investment and what is not. This can lead to things like building a subway without enough trains or building a dam without enough power lines.\n", + "title": "What is the main cause of malinvestment" + } + } + } + }, + { + "asymmetricPayoff": { "title": "Asymmetric Payoff", - "type": "Text" - }, - { - "answers": [ - "It helps identify potential growth strategies for the bitcoin protocol", - "It helps determine the optimal temperature for storing bitcoin", - "It helps calculate the potential return on investment for bitcoin mining operations" - ], - "feedback": [ - "Correct answer! You got it! The Ansoff Matrix can be used to outline growth strategies for the bitcoin protocol, such as developing and selling it to different markets. Good job", - "Nope! Storage temperature for bitcoin private keys is not a real issue, and it is not related to the Ansoff Matrix. Better luck next time", - "Wrong answer! While calculating potential returns on investment is important for bitcoin miners, it is not directly related to the Ansoff Matrix. Better luck next time." - ], - "id": "ansoffMatrix", - "question": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin", - "text": "The Ansoff Matrix is a tool that helps companies think about how they can grow and make more money. It helps them figure out what to do with a product or service they have, and how to sell it to different groups of people.\n\nIn the case of bitcoin, it is a product that is like a type of digital money. It has the potential to be used by a lot of people in a lot of different ways. The people who work on bitcoin, like the people who write the code and help others understand how to use it, are trying to increase the number of people who use it and make it easier for them to do so.\n\nBitcoin can be used to save money and protect it from being taken away, or it can be used to send and receive small amounts of money quickly, without having to go through a lot of steps. As more people start using bitcoin, it has the potential to grow and become more popular.\n\nIt is also possible for people and companies to use bitcoin as part of their financial plans, to help protect their money from losing value. While the main reason people might use bitcoin now is to protect their wealth, the payment use case has been growing fast since the inception of the Lightning Network and other use cases may emerge.\n", + "questions": { + "asymmetricPayoff": { + "answers": [ + "When the potential upside is disproportionately greater than the downside risk", + "When the potential upside and downside are equal", + "When the potential upside is a talking llama and the downside is a mute giraffe" + ], + "feedback": [ + "Correct answer! You got it! An asymmetric payoff means that the potential for gain is much greater than the potential for loss. Good job", + "Wrong answer! An asymmetric payoff means that the potential for gain or loss is uneven, not equal. Better luck next time", + "Wrong answer! While a talking llama and mute giraffe might make for an interesting investment, they do not define an asymmetric payoff. Better luck next time." + ], + "question": "What is an asymmetric payoff in the context of investment decisions", + "text": "When we make decisions about investing our money, we try to predict what might happen and how much money we could make or lose. Sometimes, the amount of money we can make or lose is not equal.\n\nFor example, if we invest in something that has a big chance of making us a lot of money, but only a small chance of losing a little bit of money, we might call this an \"asymmetric payoff.\" This means that the potential upside (how much we can make) is much bigger than the potential downside (how much we can lose).\n\nOne example of this is bitcoin. Bitcoin's potential outcomes are similar to an option, meaning it either succeeds or fails. If it experiences a catastrophic event, the risk of losing money is minimized.\n\nHowever, the potential upside is much greater, as bitcoin's total addressable market has the potential to be a primary global store of wealth.\n\nAsymmetry in payoffs, or uneven potential outcomes, only occurs when there is uneven understanding or information about an investment. If everyone fully understood bitcoin, it would already be widely used as a form of currency.\n\nCurrently, not everyone is aware of bitcoin's potential as a superior monetary option, so the potential for it to increase in value depends on the demand for it increasing without a corresponding increase in the supply.\n", + "title": "What is an asymmetric payoff in the context of investment decisions" + } + } + } + }, + { + "ansoffMatrix": { "title": "Ansoff Matrix", - "type": "Text" + "questions": { + "ansoffMatrix": { + "answers": [ + "It helps identify potential growth strategies for the bitcoin protocol", + "It helps determine the optimal temperature for storing bitcoin", + "It helps calculate the potential return on investment for bitcoin mining operations" + ], + "feedback": [ + "Correct answer! You got it! The Ansoff Matrix can be used to outline growth strategies for the bitcoin protocol, such as developing and selling it to different markets. Good job", + "Nope! Storage temperature for bitcoin private keys is not a real issue, and it is not related to the Ansoff Matrix. Better luck next time", + "Wrong answer! While calculating potential returns on investment is important for bitcoin miners, it is not directly related to the Ansoff Matrix. Better luck next time." + ], + "question": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin", + "text": "The Ansoff Matrix is a tool that helps companies think about how they can grow and make more money. It helps them figure out what to do with a product or service they have, and how to sell it to different groups of people.\n\nIn the case of bitcoin, it is a product that is like a type of digital money. It has the potential to be used by a lot of people in a lot of different ways. The people who work on bitcoin, like the people who write the code and help others understand how to use it, are trying to increase the number of people who use it and make it easier for them to do so.\n\nBitcoin can be used to save money and protect it from being taken away, or it can be used to send and receive small amounts of money quickly, without having to go through a lot of steps. As more people start using bitcoin, it has the potential to grow and become more popular.\n\nIt is also possible for people and companies to use bitcoin as part of their financial plans, to help protect their money from losing value. While the main reason people might use bitcoin now is to protect their wealth, the payment use case has been growing fast since the inception of the Lightning Network and other use cases may emerge.\n", + "title": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin" + } + } } - ], - "meta": { - "id": "BitcoinandEconomicsIII", - "title": "Bitcoin and Economics III" } -} +] diff --git a/chapter-603-bitcoin-and-economics-iii/603-es-combined.json b/chapter-603-bitcoin-and-economics-iii/603-es-combined.json deleted file mode 100644 index ac4ed72..0000000 --- a/chapter-603-bitcoin-and-economics-iii/603-es-combined.json +++ /dev/null @@ -1,93 +0,0 @@ -{ - "content": [ - { - "answers": [ - "La creencia de que una unidad de algo es siempre la cantidad correcta para usar cuando se compara con otras cosas.", - "La creencia de que un tipo de moneda es mejor que todos los dem\u00e1s.", - "La creencia de que todas las unidades de algo deben tener el mismo tama\u00f1o." - ], - "feedback": [ - "\u00a1S\u00ed! El sesgo unitario es la creencia de que una unidad de algo es siempre la cantidad correcta para usar al compararla con otras cosas. Sin embargo, esto no siempre es cierto y puede llevar a un razonamiento err\u00f3neo. Buen trabajo", - "Me temo que este equivocado. El sesgo unitario no consiste en creer que un tipo de moneda es mejor que todos los dem\u00e1s. Tal vez deber\u00edas limitarte a contar tus monedas en lugar de intentar determinar el valor de la moneda.", - "Lo sentimos, pero el sesgo unitario no tiene que ver con el tama\u00f1o de las unidades. Pero no te preocupes: a\u00fan puedes divertirte con unidades de diferentes tama\u00f1os jugando con bloques de construcci\u00f3n o ladrillos LEGO." - ], - "id": "unidadBias", - "question": "\u00bfQu\u00e9 es el sesgo unitario?", - "text": "El sesgo unitario es un tipo de pensamiento que supone que una unidad de algo es la cantidad correcta para usar al compararla con otras cosas.\n\nEsto no siempre es cierto, especialmente cuando se trata de bitcoin. Para comprender c\u00f3mo se compara Bitcoin con otras reservas de valor, es necesario observar la cantidad total de Bitcoin disponible y su valor, no solo el precio de una unidad. Bitcoin es muy peque\u00f1o y se puede dividir en cantidades muy peque\u00f1as, hasta 8 decimales. Esto significa que puedes comprar una parte muy peque\u00f1a de un bitcoin si lo deseas.\n\nLa gente a veces piensa que otras criptomonedas son m\u00e1s baratas que bitcoin porque cuestan menos por unidad, pero esto no siempre es cierto. Bitcoin es un tipo especial de dinero digital porque su oferta es limitada y no se puede fabricar en cantidades mayores.\n\nEsto lo convierte en una buena forma de almacenar valor porque el valor no disminuye con el tiempo. Cuando miras a Bitcoin de esta manera, puedes ver que es solo una peque\u00f1a parte de la cantidad total de riqueza no gubernamental en el mundo.\n", - "title": "Sesgo unitario", - "type": "Texto" - }, - { - "answers": [ - "Un tipo de bien que la gente quiere m\u00e1s cuando el precio sube.", - "Un tipo de comida que sabe mejor cuando es cara", - "Un tipo de bien que la gente quiere m\u00e1s cuando tiene m\u00e1s dinero para gastar." - ], - "feedback": [ - "\u00a1Exactamente! Un bien Veblen es un tipo de bien que la gente quiere m\u00e1s cuando el precio sube. Esto es inusual porque la mayor\u00eda de las personas quieren m\u00e1s cosas cuando tienen m\u00e1s dinero para gastar.", - "Lo siento, pero un bien Veblen no es un tipo de comida. Tal vez deber\u00edas limitarte a comer tus comidas favoritas en lugar de intentar entender la econom\u00eda.", - "Me temo que este equivocado. Un bien Veblen no es un tipo de bien que la gente quiera m\u00e1s cuando tiene m\u00e1s dinero para gastar. \u00a1Quiz\u00e1s deber\u00edas prestar m\u00e1s atenci\u00f3n a la econom\u00eda en lugar de simplemente gastar tu dinero!" - ], - "id": "veblenBueno", - "question": "\u00bfQu\u00e9 es bueno un Veblen?", - "text": "Los productos Veblen son cosas que la gente quiere m\u00e1s cuando el precio sube. Los bienes normales son cosas que la gente suele querer m\u00e1s cuando tiene m\u00e1s dinero para gastar.\n\nLos productos Veblen son inusuales porque la gente los quiere m\u00e1s cuando cuestan m\u00e1s. Suelen ser art\u00edculos de lujo dif\u00edciles de conseguir o que se fabrican en cantidades limitadas. Esto se hace para que parezcan especiales o raros.\n\nEs posible que algunas personas quieran comprar bitcoins porque es un s\u00edmbolo de estatus, pero la raz\u00f3n principal por la que la gente probablemente querr\u00e1 comprarlo es porque hay una cantidad limitada.\n\nCuando m\u00e1s personas quieren comprar bitcoins, el precio sube y resulta m\u00e1s f\u00e1cil de usar. Cuando es f\u00e1cil de usar, m\u00e1s gente quiere usarlo. Esto crea un ciclo en el que aumenta la demanda de bitcoins, el precio sube y se vuelve m\u00e1s f\u00e1cil de usar.\n", - "title": "Veblen bueno", - "type": "Texto" - }, - { - "answers": [ - "Se\u00f1ales de precios distorsionadas", - "Extraterrestres del espacio exterior", - "Falta de unicornios en la econom\u00eda" - ], - "feedback": [ - "\u00a1Respuesta correcta! Est\u00e1s en el camino correcto. Cuando los precios no son precisos, se puede invertir dinero en cosas que no son muy productivas. Buen trabajo", - "\u00a1Respuesta incorrecta! Pero al menos est\u00e1s pensando fuera de lo com\u00fan. Tal vez los extraterrestres est\u00e9n controlando las se\u00f1ales de precios de su nave espacial... o tal vez no. Mejor suerte la pr\u00f3xima vez", - "Lo sentimos, pero los unicornios no tienen el poder de controlar la econom\u00eda. Aunque ser\u00eda genial si lo hicieran. Mejor suerte la pr\u00f3xima vez." - ], - "id": "mala inversi\u00f3n", - "question": "\u00bfCu\u00e1l es la principal causa de las malas inversiones?", - "text": "La mala inversi\u00f3n se produce cuando los precios de las cosas no son exactos, lo que lleva a que se invierta dinero en cosas que no son muy productivas. Esto sucede porque es dif\u00edcil predecir el futuro y tomar buenas decisiones sobre qu\u00e9 hacer con el dinero.\n\nCuando el mercado no funciona correctamente, es como intentar utilizar una br\u00fajula cuando no est\u00e1s seguro de d\u00f3nde est\u00e1s. Un ejemplo de esto es cuando las empresas no pueden pagar sus pr\u00e9stamos y tienen que pedir prestado m\u00e1s dinero s\u00f3lo para sobrevivir. Esto es como ser una empresa \"zombi\".\n\nCuando el gobierno est\u00e1 a cargo de estas decisiones, puede cometer errores porque no tiene una buena manera de saber qu\u00e9 es una buena inversi\u00f3n y qu\u00e9 no. Esto puede llevar a cosas como la construcci\u00f3n de un metro sin suficientes trenes o la construcci\u00f3n de una presa sin suficientes l\u00edneas el\u00e9ctricas.\n", - "title": "Mala inversi\u00f3n", - "type": "Texto" - }, - { - "answers": [ - "Cuando el potencial alcista es desproporcionadamente mayor que el riesgo a la baja", - "Cuando las posibles ventajas y desventajas son iguales", - "Cuando la ventaja potencial es una llama que habla y la desventaja es una jirafa muda" - ], - "feedback": [ - "\u00a1Respuesta correcta! \u00a1Lo entendiste! Un pago asim\u00e9trico significa que el potencial de ganancia es mucho mayor que el potencial de p\u00e9rdida. Buen trabajo", - "\u00a1Respuesta incorrecta! Un pago asim\u00e9trico significa que el potencial de ganancia o p\u00e9rdida es desigual, no igual. Mejor suerte la pr\u00f3xima vez", - "\u00a1Respuesta incorrecta! Si bien una llama parlante y una jirafa muda pueden ser una inversi\u00f3n interesante, no definen una recompensa asim\u00e9trica. Mejor suerte la pr\u00f3xima vez." - ], - "id": "pago asim\u00e9trico", - "question": "\u00bfQu\u00e9 es un beneficio asim\u00e9trico en el contexto de las decisiones de inversi\u00f3n?", - "text": "Cuando tomamos decisiones sobre invertir nuestro dinero, intentamos predecir qu\u00e9 podr\u00eda pasar y cu\u00e1nto dinero podr\u00edamos ganar o perder. A veces, la cantidad de dinero que podemos ganar o perder no es igual.\n\nPor ejemplo, si invertimos en algo que tiene muchas posibilidades de generar mucho dinero, pero s\u00f3lo una peque\u00f1a posibilidad de perder un poco de dinero, podr\u00edamos llamar a esto un \"beneficio asim\u00e9trico\". Esto significa que el potencial positivo (cu\u00e1nto podemos ganar) es mucho mayor que el potencial negativo (cu\u00e1nto podemos perder).\n\nUn ejemplo de esto es bitcoin. Los resultados potenciales de Bitcoin son similares a una opci\u00f3n, lo que significa que tiene \u00e9xito o fracasa. Si experimenta un evento catastr\u00f3fico, se minimiza el riesgo de perder dinero.\n\nSin embargo, el potencial alcista es mucho mayor, ya que el mercado total al que se dirige Bitcoin tiene el potencial de ser un principal dep\u00f3sito global de riqueza.\n\nLa asimetr\u00eda en los pagos, o resultados potenciales desiguales, s\u00f3lo ocurre cuando existe una comprensi\u00f3n o informaci\u00f3n desigual sobre una inversi\u00f3n. Si todo el mundo entendiera completamente el bitcoin, ya se utilizar\u00eda ampliamente como forma de moneda.\n\nActualmente, no todo el mundo es consciente del potencial del bitcoin como opci\u00f3n monetaria superior, por lo que la posibilidad de que aumente su valor depende de que la demanda aumente sin el correspondiente aumento de la oferta.\n", - "title": "Pago asim\u00e9trico", - "type": "Texto" - }, - { - "answers": [ - "Ayuda a identificar posibles estrategias de crecimiento para el protocolo bitcoin.", - "Ayuda a determinar la temperatura \u00f3ptima para almacenar bitcoins.", - "Ayuda a calcular el retorno potencial de la inversi\u00f3n para las operaciones mineras de bitcoins." - ], - "feedback": [ - "\u00a1Respuesta correcta! \u00a1Lo entendiste! La Matriz de Ansoff se puede utilizar para delinear estrategias de crecimiento para el protocolo bitcoin, como desarrollarlo y venderlo en diferentes mercados. Buen trabajo", - "\u00a1No! La temperatura de almacenamiento de las claves privadas de bitcoin no es un problema real y no est\u00e1 relacionada con la Matriz de Ansoff. Mejor suerte la pr\u00f3xima vez", - "\u00a1Respuesta incorrecta! Si bien calcular el rendimiento potencial de la inversi\u00f3n es importante para los mineros de bitcoins, no est\u00e1 directamente relacionado con la Matriz de Ansoff. Mejor suerte la pr\u00f3xima vez." - ], - "id": "ansoffMatriz", - "question": "\u00bfC\u00f3mo es relevante la Matriz de Ansoff para el crecimiento y el potencial de bitcoin?", - "text": "Ansoff Matrix es una herramienta que ayuda a las empresas a pensar en c\u00f3mo pueden crecer y ganar m\u00e1s dinero. Les ayuda a descubrir qu\u00e9 hacer con un producto o servicio que tienen y c\u00f3mo venderlo a diferentes grupos de personas.\n\nEn el caso del bitcoin, es un producto que es como un tipo de dinero digital. Tiene el potencial de ser utilizado por mucha gente de muchas maneras diferentes. Las personas que trabajan con bitcoin, al igual que las personas que escriben el c\u00f3digo y ayudan a otros a entender c\u00f3mo usarlo, est\u00e1n tratando de aumentar el n\u00famero de personas que lo usan y facilitarles su uso.\n\nBitcoin se puede utilizar para ahorrar dinero y protegerlo contra robos, o se puede utilizar para enviar y recibir peque\u00f1as cantidades de dinero r\u00e1pidamente, sin tener que seguir muchos pasos. A medida que m\u00e1s personas comiencen a usar bitcoin, tiene el potencial de crecer y volverse m\u00e1s popular.\n\nTambi\u00e9n es posible que las personas y las empresas utilicen bitcoin como parte de sus planes financieros, para ayudar a proteger su dinero de la p\u00e9rdida de valor. Si bien la raz\u00f3n principal por la que las personas podr\u00edan usar bitcoin ahora es para proteger su riqueza, el caso de uso de pagos ha crecido r\u00e1pidamente desde el inicio de Lightning Network y pueden surgir otros casos de uso.\n", - "title": "Matriz de Ansoff", - "type": "Texto" - } - ], - "meta": { - "id": "BitcoinyEconom\u00edaIII", - "title": "Bitcoin y Econom\u00eda III" - } -} \ No newline at end of file diff --git a/chapter-603-bitcoin-and-economics-iii/603.01-lesson-unit-bias.json b/chapter-603-bitcoin-and-economics-iii/603.01-lesson-unit-bias.json index 82aed1f..ee335b1 100644 --- a/chapter-603-bitcoin-and-economics-iii/603.01-lesson-unit-bias.json +++ b/chapter-603-bitcoin-and-economics-iii/603.01-lesson-unit-bias.json @@ -1,17 +1,22 @@ { - "answers": [ - "The belief that one unit of something is always the right amount to use when comparing it to other things", - "The belief that one type of currency is better than all others", - "The belief that all units of something should be the same size" - ], - "feedback": [ - "Yep! Unit bias is the belief that one unit of something is always the right amount to use when comparing it to other things. However, this is not always true and can lead to faulty reasoning. Good job", - "I'm afraid you're mistaken. Unit bias is not about believing that one type of currency is better than all others. Maybe you should stick to counting your coins instead of trying to determine the value of currency", - "Sorry, but unit bias is not about the size of units. Don't worry, though – you can still have fun with different sizes of units by playing with building blocks or LEGO bricks." - ], - "id": "unitBias", - "question": "What is unit bias", - "text": "Unit bias is a type of thinking that assumes that one unit of something is the right amount to use when comparing it to other things.\n\nThis is not always true, especially when it comes to bitcoin. To understand how bitcoin compares to other stores of value, you need to look at the total amount of bitcoin that is available and its value, not just the price of one unit. Bitcoin is very small and can be divided into very small amounts, down to 8 decimal places. This means that you can buy a very small part of a bitcoin if you want.\n\nPeople sometimes think that other cryptocurrencies are cheaper than bitcoin because they cost less per unit, but this is not always true. Bitcoin is a special type of digital money because it is limited in supply and cannot be made in larger amounts.\n\nThis makes it a good way to store value because the value does not decrease over time. When you look at bitcoin in this way, you can see that it is just a small part of the total amount of non-government wealth in the world.\n", - "title": "Unit Bias", - "type": "Text" + "unitBias": { + "title": "Unit Bias", + "questions": { + "unitBias": { + "answers": [ + "The belief that one unit of something is always the right amount to use when comparing it to other things", + "The belief that one type of currency is better than all others", + "The belief that all units of something should be the same size" + ], + "feedback": [ + "Yep! Unit bias is the belief that one unit of something is always the right amount to use when comparing it to other things. However, this is not always true and can lead to faulty reasoning. Good job", + "I'm afraid you're mistaken. Unit bias is not about believing that one type of currency is better than all others. Maybe you should stick to counting your coins instead of trying to determine the value of currency", + "Sorry, but unit bias is not about the size of units. Don't worry, though – you can still have fun with different sizes of units by playing with building blocks or LEGO bricks." + ], + "question": "What is unit bias", + "text": "Unit bias is a type of thinking that assumes that one unit of something is the right amount to use when comparing it to other things.\n\nThis is not always true, especially when it comes to bitcoin. To understand how bitcoin compares to other stores of value, you need to look at the total amount of bitcoin that is available and its value, not just the price of one unit. Bitcoin is very small and can be divided into very small amounts, down to 8 decimal places. This means that you can buy a very small part of a bitcoin if you want.\n\nPeople sometimes think that other cryptocurrencies are cheaper than bitcoin because they cost less per unit, but this is not always true. Bitcoin is a special type of digital money because it is limited in supply and cannot be made in larger amounts.\n\nThis makes it a good way to store value because the value does not decrease over time. When you look at bitcoin in this way, you can see that it is just a small part of the total amount of non-government wealth in the world.\n", + "title": "What is unit bias" + } + } + } } diff --git a/chapter-603-bitcoin-and-economics-iii/603.02-lesson-veblen-good.json b/chapter-603-bitcoin-and-economics-iii/603.02-lesson-veblen-good.json index ead61ae..9706046 100644 --- a/chapter-603-bitcoin-and-economics-iii/603.02-lesson-veblen-good.json +++ b/chapter-603-bitcoin-and-economics-iii/603.02-lesson-veblen-good.json @@ -1,17 +1,22 @@ { - "answers": [ - "A type of good that people want more of when the price goes up", - "A type of food that tastes better when it is expensive", - "A type of good that people want more of when they have more money to spend" - ], - "feedback": [ - "Exactly! A Veblen good is a type of good that people want more of when the price goes up. This is unusual because most people want things more when they have more money to spend", - "I'm sorry, but a Veblen good is not a type of food. Maybe you should stick to eating your favorite foods instead of trying to understand economics", - "I'm afraid you're mistaken. A Veblen good is not a type of good that people want more of when they have more money to spend. Maybe you should pay more attention to economics instead of just spending your money!" - ], - "id": "veblenGood", - "question": "What is a Veblen good", - "text": "Veblen goods are things that people want more of when the price goes up. Normal goods are things that people usually want more of when they have more money to spend.\n\nVeblen goods are unusual because people want them more when they cost more. These are often luxury goods that are hard to get or that are made in limited quantities. This is done to make them seem special or rare.\n\nSome people might want to buy bitcoin because it is a status symbol, but the main reason people will probably want to buy it is because there is a limited amount of it.\n\nWhen more people want to buy bitcoin, the price goes up and it becomes easier to use. When it is easy to use, more people want to use it. This creates a cycle where the demand for bitcoin increases, the price goes up, and it becomes easier to use.\n", - "title": "Veblen Good", - "type": "Text" + "veblenGood": { + "title": "Veblen Good", + "questions": { + "veblenGood": { + "answers": [ + "A type of good that people want more of when the price goes up", + "A type of food that tastes better when it is expensive", + "A type of good that people want more of when they have more money to spend" + ], + "feedback": [ + "Exactly! A Veblen good is a type of good that people want more of when the price goes up. This is unusual because most people want things more when they have more money to spend", + "I'm sorry, but a Veblen good is not a type of food. Maybe you should stick to eating your favorite foods instead of trying to understand economics", + "I'm afraid you're mistaken. A Veblen good is not a type of good that people want more of when they have more money to spend. Maybe you should pay more attention to economics instead of just spending your money!" + ], + "question": "What is a Veblen good", + "text": "Veblen goods are things that people want more of when the price goes up. Normal goods are things that people usually want more of when they have more money to spend.\n\nVeblen goods are unusual because people want them more when they cost more. These are often luxury goods that are hard to get or that are made in limited quantities. This is done to make them seem special or rare.\n\nSome people might want to buy bitcoin because it is a status symbol, but the main reason people will probably want to buy it is because there is a limited amount of it.\n\nWhen more people want to buy bitcoin, the price goes up and it becomes easier to use. When it is easy to use, more people want to use it. This creates a cycle where the demand for bitcoin increases, the price goes up, and it becomes easier to use.\n", + "title": "What is a Veblen good" + } + } + } } diff --git a/chapter-603-bitcoin-and-economics-iii/603.03-lesson-malinvestment.json b/chapter-603-bitcoin-and-economics-iii/603.03-lesson-malinvestment.json index e877b8f..a25fab2 100644 --- a/chapter-603-bitcoin-and-economics-iii/603.03-lesson-malinvestment.json +++ b/chapter-603-bitcoin-and-economics-iii/603.03-lesson-malinvestment.json @@ -1,17 +1,22 @@ { - "answers": [ - "Distorted price signals", - "Aliens from outer space", - "A lack of unicorns in the economy" - ], - "feedback": [ - "Correct answer! You're on the right track. When prices are not accurate, it can lead to money being put into things that are not very productive. Good job", - "Wrong answer! But at least you're thinking outside the box. Maybe the aliens are controlling the price signals from their spaceship... or maybe not. Better luck next time", - "Sorry, but unicorns do not have the power to control the economy. Although, it would be pretty cool if they did. Better luck next time." - ], - "id": "malinvestment", - "question": "What is the main cause of malinvestment", - "text": "Malinvestment is when the prices of things are not accurate, which leads to money being put into things that are not very productive. This happens because it is hard to predict the future and make good choices about what to do with money.\n\nWhen the market is not working correctly, it is like trying to use a compass when you are not sure where you are. An example of this is when companies can't pay back their loans and have to borrow more money just to stay alive. This is like being a \"zombie\" company.\n\nWhen the government is in charge of these decisions, they might make mistakes because they don't have a good way to tell what is a good investment and what is not. This can lead to things like building a subway without enough trains or building a dam without enough power lines.\n", - "title": "Malinvestment", - "type": "Text" + "malinvestment": { + "title": "Malinvestment", + "questions": { + "malinvestment": { + "answers": [ + "Distorted price signals", + "Aliens from outer space", + "A lack of unicorns in the economy" + ], + "feedback": [ + "Correct answer! You're on the right track. When prices are not accurate, it can lead to money being put into things that are not very productive. Good job", + "Wrong answer! But at least you're thinking outside the box. Maybe the aliens are controlling the price signals from their spaceship... or maybe not. Better luck next time", + "Sorry, but unicorns do not have the power to control the economy. Although, it would be pretty cool if they did. Better luck next time." + ], + "question": "What is the main cause of malinvestment", + "text": "Malinvestment is when the prices of things are not accurate, which leads to money being put into things that are not very productive. This happens because it is hard to predict the future and make good choices about what to do with money.\n\nWhen the market is not working correctly, it is like trying to use a compass when you are not sure where you are. An example of this is when companies can't pay back their loans and have to borrow more money just to stay alive. This is like being a \"zombie\" company.\n\nWhen the government is in charge of these decisions, they might make mistakes because they don't have a good way to tell what is a good investment and what is not. This can lead to things like building a subway without enough trains or building a dam without enough power lines.\n", + "title": "What is the main cause of malinvestment" + } + } + } } diff --git a/chapter-603-bitcoin-and-economics-iii/603.04-lesson-asymmetric-payoff.json b/chapter-603-bitcoin-and-economics-iii/603.04-lesson-asymmetric-payoff.json index ceb7822..6b34f91 100644 --- a/chapter-603-bitcoin-and-economics-iii/603.04-lesson-asymmetric-payoff.json +++ b/chapter-603-bitcoin-and-economics-iii/603.04-lesson-asymmetric-payoff.json @@ -1,17 +1,22 @@ { - "answers": [ - "When the potential upside is disproportionately greater than the downside risk", - "When the potential upside and downside are equal", - "When the potential upside is a talking llama and the downside is a mute giraffe" - ], - "feedback": [ - "Correct answer! You got it! An asymmetric payoff means that the potential for gain is much greater than the potential for loss. Good job", - "Wrong answer! An asymmetric payoff means that the potential for gain or loss is uneven, not equal. Better luck next time", - "Wrong answer! While a talking llama and mute giraffe might make for an interesting investment, they do not define an asymmetric payoff. Better luck next time." - ], - "id": "asymmetricPayoff", - "question": "What is an asymmetric payoff in the context of investment decisions", - "text": "When we make decisions about investing our money, we try to predict what might happen and how much money we could make or lose. Sometimes, the amount of money we can make or lose is not equal.\n\nFor example, if we invest in something that has a big chance of making us a lot of money, but only a small chance of losing a little bit of money, we might call this an \"asymmetric payoff.\" This means that the potential upside (how much we can make) is much bigger than the potential downside (how much we can lose).\n\nOne example of this is bitcoin. Bitcoin's potential outcomes are similar to an option, meaning it either succeeds or fails. If it experiences a catastrophic event, the risk of losing money is minimized.\n\nHowever, the potential upside is much greater, as bitcoin's total addressable market has the potential to be a primary global store of wealth.\n\nAsymmetry in payoffs, or uneven potential outcomes, only occurs when there is uneven understanding or information about an investment. If everyone fully understood bitcoin, it would already be widely used as a form of currency.\n\nCurrently, not everyone is aware of bitcoin's potential as a superior monetary option, so the potential for it to increase in value depends on the demand for it increasing without a corresponding increase in the supply.\n", - "title": "Asymmetric Payoff", - "type": "Text" + "asymmetricPayoff": { + "title": "Asymmetric Payoff", + "questions": { + "asymmetricPayoff": { + "answers": [ + "When the potential upside is disproportionately greater than the downside risk", + "When the potential upside and downside are equal", + "When the potential upside is a talking llama and the downside is a mute giraffe" + ], + "feedback": [ + "Correct answer! You got it! An asymmetric payoff means that the potential for gain is much greater than the potential for loss. Good job", + "Wrong answer! An asymmetric payoff means that the potential for gain or loss is uneven, not equal. Better luck next time", + "Wrong answer! While a talking llama and mute giraffe might make for an interesting investment, they do not define an asymmetric payoff. Better luck next time." + ], + "question": "What is an asymmetric payoff in the context of investment decisions", + "text": "When we make decisions about investing our money, we try to predict what might happen and how much money we could make or lose. Sometimes, the amount of money we can make or lose is not equal.\n\nFor example, if we invest in something that has a big chance of making us a lot of money, but only a small chance of losing a little bit of money, we might call this an \"asymmetric payoff.\" This means that the potential upside (how much we can make) is much bigger than the potential downside (how much we can lose).\n\nOne example of this is bitcoin. Bitcoin's potential outcomes are similar to an option, meaning it either succeeds or fails. If it experiences a catastrophic event, the risk of losing money is minimized.\n\nHowever, the potential upside is much greater, as bitcoin's total addressable market has the potential to be a primary global store of wealth.\n\nAsymmetry in payoffs, or uneven potential outcomes, only occurs when there is uneven understanding or information about an investment. If everyone fully understood bitcoin, it would already be widely used as a form of currency.\n\nCurrently, not everyone is aware of bitcoin's potential as a superior monetary option, so the potential for it to increase in value depends on the demand for it increasing without a corresponding increase in the supply.\n", + "title": "What is an asymmetric payoff in the context of investment decisions" + } + } + } } diff --git a/chapter-603-bitcoin-and-economics-iii/603.05-lesson-ansoff-matrix.json b/chapter-603-bitcoin-and-economics-iii/603.05-lesson-ansoff-matrix.json index 04a8573..93ce5bb 100644 --- a/chapter-603-bitcoin-and-economics-iii/603.05-lesson-ansoff-matrix.json +++ b/chapter-603-bitcoin-and-economics-iii/603.05-lesson-ansoff-matrix.json @@ -1,17 +1,22 @@ { - "answers": [ - "It helps identify potential growth strategies for the bitcoin protocol", - "It helps determine the optimal temperature for storing bitcoin", - "It helps calculate the potential return on investment for bitcoin mining operations" - ], - "feedback": [ - "Correct answer! You got it! The Ansoff Matrix can be used to outline growth strategies for the bitcoin protocol, such as developing and selling it to different markets. Good job", - "Nope! Storage temperature for bitcoin private keys is not a real issue, and it is not related to the Ansoff Matrix. Better luck next time", - "Wrong answer! While calculating potential returns on investment is important for bitcoin miners, it is not directly related to the Ansoff Matrix. Better luck next time." - ], - "id": "ansoffMatrix", - "question": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin", - "text": "The Ansoff Matrix is a tool that helps companies think about how they can grow and make more money. It helps them figure out what to do with a product or service they have, and how to sell it to different groups of people.\n\nIn the case of bitcoin, it is a product that is like a type of digital money. It has the potential to be used by a lot of people in a lot of different ways. The people who work on bitcoin, like the people who write the code and help others understand how to use it, are trying to increase the number of people who use it and make it easier for them to do so.\n\nBitcoin can be used to save money and protect it from being taken away, or it can be used to send and receive small amounts of money quickly, without having to go through a lot of steps. As more people start using bitcoin, it has the potential to grow and become more popular.\n\nIt is also possible for people and companies to use bitcoin as part of their financial plans, to help protect their money from losing value. While the main reason people might use bitcoin now is to protect their wealth, the payment use case has been growing fast since the inception of the Lightning Network and other use cases may emerge.\n", - "title": "Ansoff Matrix", - "type": "Text" + "ansoffMatrix": { + "title": "Ansoff Matrix", + "questions": { + "ansoffMatrix": { + "answers": [ + "It helps identify potential growth strategies for the bitcoin protocol", + "It helps determine the optimal temperature for storing bitcoin", + "It helps calculate the potential return on investment for bitcoin mining operations" + ], + "feedback": [ + "Correct answer! You got it! The Ansoff Matrix can be used to outline growth strategies for the bitcoin protocol, such as developing and selling it to different markets. Good job", + "Nope! Storage temperature for bitcoin private keys is not a real issue, and it is not related to the Ansoff Matrix. Better luck next time", + "Wrong answer! While calculating potential returns on investment is important for bitcoin miners, it is not directly related to the Ansoff Matrix. Better luck next time." + ], + "question": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin", + "text": "The Ansoff Matrix is a tool that helps companies think about how they can grow and make more money. It helps them figure out what to do with a product or service they have, and how to sell it to different groups of people.\n\nIn the case of bitcoin, it is a product that is like a type of digital money. It has the potential to be used by a lot of people in a lot of different ways. The people who work on bitcoin, like the people who write the code and help others understand how to use it, are trying to increase the number of people who use it and make it easier for them to do so.\n\nBitcoin can be used to save money and protect it from being taken away, or it can be used to send and receive small amounts of money quickly, without having to go through a lot of steps. As more people start using bitcoin, it has the potential to grow and become more popular.\n\nIt is also possible for people and companies to use bitcoin as part of their financial plans, to help protect their money from losing value. While the main reason people might use bitcoin now is to protect their wealth, the payment use case has been growing fast since the inception of the Lightning Network and other use cases may emerge.\n", + "title": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin" + } + } + } } From b2272a028f170f119847c2095eae1a8ee7adb2c1 Mon Sep 17 00:00:00 2001 From: Lee Salminen Date: Fri, 6 Oct 2023 08:15:16 -0600 Subject: [PATCH 06/13] update json processing script to match current blink structure --- bin/update-json.sh | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/bin/update-json.sh b/bin/update-json.sh index 1aa9687..d0e787e 100755 --- a/bin/update-json.sh +++ b/bin/update-json.sh @@ -9,7 +9,7 @@ find . -type f -path '*chapter*' -name '*.yml' | while read path; do new_path="$dir/$file.json" echo "Templating $path to $new_path" - echo "$(cat $path | yq -o json | jq '{ (.screen): {title: .title, questions: { (.screen): { answers: [.answers[].answer], feedback: [.answers[].feedback], question: .question, text: .text, title: .question} } } }')" > $new_path + echo "$(cat $path | yq -o json | jq '{ (.screen): {screen: .screen, answers: [.answers[].answer], feedback: [.answers[].feedback], question: .question, text: .text, title: .question} }')" > $new_path done @@ -27,5 +27,5 @@ find . -type d -path '*chapter*' | sort | while read dirname; do chaptertitle=$(head -n 1 $chaptermeta | sed 's/#//g' | sed 's/Chapter [0-9][0-9][0-9] - //' | xargs) chapterid=$(echo $chaptertitle | sed 's/ //g' | sed "s/[^[:alpha:]]//g") - jq --arg chaptertitle "$chaptertitle" --arg chapterid "$chapterid" -s '{($chapterid): .}' $chapterfiles | jq -n 'inputs | add' > $new_file + jq -n '[ inputs[] | { (.screen|tostring): del(.screen) }]' $chapterfiles | jq --arg chaptertitle "$chaptertitle" --arg chapterid "$chapterid" '{ ($chapterid): { title: $chaptertitle, questions: (. |= add) } }' > $new_file done From e4f15c9e4663a2565bc1dbdcca857a86fce2578e Mon Sep 17 00:00:00 2001 From: Lee Salminen Date: Fri, 6 Oct 2023 08:50:56 -0600 Subject: [PATCH 07/13] update json --- .../101-combined.json | 188 ++++------ .../101.01-lesson-what-is-bitcoin.json | 32 +- .../101.02-lesson-sat.json | 32 +- .../101.03-lesson-where-bitcoin-exist.json | 32 +- .../101.04-lesson-who-controls-bitcoin.json | 32 +- .../101.05-lesson-copy-bitcoin.json | 32 +- chapter-102-what-is-money/102-combined.json | 225 +++++------- .../102.01-lesson-money-social-agreement.json | 32 +- .../102.02-lesson-coincidence-of-wants.json | 32 +- .../102.03-lesson-money-evolution.json | 32 +- .../102.04-lesson-why-stones-shell-gold.json | 32 +- .../102.05-lesson-money-is-important.json | 32 +- ...06-lesson-money-important-governement.json | 32 +- .../103-combined.json | 188 ++++------ .../103.01-lesson-what-is-fiat.json | 32 +- ...3.02-lesson-why-care-about-fiat-money.json | 32 +- ...03-lesson-governement-can-print-money.json | 32 +- ....04-lesson-fiat-loses-value-over-time.json | 32 +- .../103.05-lesson-other-issues.json | 32 +- .../104-combined.json | 225 +++++------- .../104.01-lesson-limited-supply.json | 32 +- .../104.02-lesson-decentralized.json | 32 +- .../104.03-lesson-no-counterfeit-money.json | 32 +- .../104.04-lesson-highly-divisible.json | 32 +- .../104.05-lesson-secure-part-one.json | 32 +- .../104.06-lesson-secure-part-two.json | 32 +- .../201-combined.json | 188 ++++------ .../201.01-lesson-origins-of-money.json | 32 +- .../201.02-lesson-primitive-money.json | 32 +- .../201.03-lesson-anticipating-demand.json | 32 +- .../201.04-lesson-nash-equilibrium.json | 32 +- .../201.05-lesson-single-store-of-value.json | 32 +- .../202-combined.json | 336 ++++++++---------- .../202.01-lesson-what-is-good-sov.json | 32 +- .../202.02-lesson-durability.json | 32 +- .../202.03-lesson-portability.json | 32 +- .../202.04-lesson-fungibility.json | 32 +- .../202.05-lesson-verifiability.json | 32 +- .../202.06-lesson-divisibility.json | 32 +- .../202.07-lesson-scarce.json | 32 +- .../202.08-lesson-established-history.json | 32 +- .../202.09-lesson-censorship-resistance.json | 32 +- .../203-combined.json | 262 ++++++-------- .../203.01-lesson-evolution-money.json | 32 +- .../203.02-lesson-collectible.json | 32 +- .../203.03-lesson-store-of-value.json | 32 +- .../203.04-lesson-medium-of-exchange.json | 32 +- .../203.05-lesson-unit-of-account.json | 32 +- .../203.06-lesson-partly-monetized.json | 32 +- .../203.07-lesson-monitization-stage.json | 32 +- .../204-combined.json | 188 ++++------ .../204.01-lesson-not-from-government.json | 32 +- .../204.02-lesson-primary-functoin.json | 32 +- .../204.03-lesson-monetary-metals.json | 32 +- .../204.05-lesson-stock-to-flow.json | 32 +- .../204.06-lesson-hard-money.json | 32 +- .../205-combined.json | 299 +++++++--------- .../205.01-lesson-converging-on-gold.json | 32 +- .../205.02-lesson-origins-of-paper-money.json | 32 +- .../205.03-lesson-fractional-reserve.json | 32 +- .../205.04-lesson-bank-run.json | 32 +- .../205.05-lesson-modern-central-banking.json | 32 +- .../205.06-lesson-gold-backed.json | 32 +- .../205.07-lesson-bretton-woords.json | 32 +- .../205.08-lesson-global-reserve.json | 32 +- .../206-combined.json | 299 +++++++--------- .../206.01-lesson-nixon-shock.json | 32 +- .../206.02-lesson-fiat-era.json | 32 +- .../206.03-lesson-digital-fiat.json | 32 +- .../206.04-lesson-plastic-credit.json | 32 +- .../206.05-lesson-double-spend-problem.json | 32 +- .../206.06-lesson-innovative-solution.json | 32 +- .../206.07-lesson-natively-digital.json | 32 +- .../206.08-lesson-cdbcs.json | 32 +- .../301-combined.json | 225 +++++------- .../301.01-lesson-root-problem.json | 32 +- .../301.02-lesson-bitcoin-creator.json | 32 +- .../301.03-lesson-fiat-requires-trust.json | 32 +- .../301.04-lesson-money-printing.json | 32 +- .../301.05-lesson-genesis-block.json | 32 +- .../301.06-lesson-cypher-punks.json | 32 +- .../302-combined.json | 299 +++++++--------- .../302.01-lesson-peer-2-peer.json | 32 +- .../302.02-lesson-blockchain.json | 32 +- .../302.03-lesson-private-key.json | 32 +- .../302.04-lesson-public-key.json | 32 +- .../302.05-lesson-mining.json | 32 +- .../302.06-lesson-proof-of-work.json | 32 +- .../302.07-lesson-difficulty-adjustment.json | 32 +- .../302.08-lesson-halving.json | 32 +- .../401-combined.json | 299 +++++++--------- .../401.01-lesson-bitcoin-drawbacks.json | 32 +- .../401.02-lesson-block-size-wars.json | 32 +- .../401.03-lesson-lightning-network.json | 32 +- .../401.04-lesson-instant-payments.json | 32 +- .../401.05-lesson-micro-payments.json | 32 +- .../401.06-lesson-scalability.json | 32 +- .../401.07-lesson-payment-channels.json | 32 +- .../401.08-lesson-routing.json | 32 +- .../501-combined.json | 225 +++++------- .../501.01-lesson-its-a-bubble.json | 32 +- .../501.02-lesson-its-too-volatile.json | 32 +- .../501.03-lesson-its-not-backed.json | 32 +- .../501.04-lesson-will-become-obsolete.json | 32 +- .../501.05-lesson-too-much-energy.json | 32 +- .../501.06-lesson-stranded-energy.json | 32 +- .../502-combined.json | 225 +++++------- .../502.01-lesson-internet-dependent.json | 32 +- .../502.02-lesson-for-crime-only.json | 32 +- .../502.03-lesson-ponzi-scheme.json | 32 +- .../502.04-lesson-bitcoin-is-too-slow.json | 32 +- .../502.05-lesson-supply-limit.json | 32 +- .../502.06-lesson-government-ban.json | 32 +- .../503-combined.json | 225 +++++------- .../503.01-lesson.concentrated-ownership.json | 32 +- .../503.02-lesson-centralized-mining.json | 32 +- .../503.03-lesson-too-expensive.json | 32 +- .../503.04-lesson-prohibitively-high.json | 32 +- .../503.05-lesson-will-be-hoarded.json | 32 +- .../503.06-lesson-can-be-duplicated.json | 32 +- .../601-combined.json | 225 +++++------- .../601.01-lesson-scarcity.json | 32 +- .../601.02-lesson-monetary-premium.json | 32 +- .../601.03-lesson-greshams-law.json | 32 +- .../601.04-lesson-thiers-law.json | 32 +- .../601.05-lesson-cantillon-effect.json | 32 +- .../601.06-lesson-schelling-point.json | 32 +- .../602-combined.json | 225 +++++------- .../602.01-lesson-opportunity-cost.json | 32 +- .../602.02-lesson-time-preference.json | 32 +- .../602.03-lesson-impossible-trinity.json | 32 +- .../602.04-lesson-jevons-paradox.json | 32 +- .../602.05-lesson-powerlaws.json | 32 +- .../602.06-lesson-winner-wake-all.json | 32 +- .../603-combined.json | 188 ++++------ .../603.01-lesson-unit-bias.json | 32 +- .../603.02-lesson-veblen-good.json | 32 +- .../603.03-lesson-malinvestment.json | 32 +- .../603.04-lesson-asymmetric-payoff.json | 32 +- .../603.05-lesson-ansoff-matrix.json | 32 +- 140 files changed, 3585 insertions(+), 4821 deletions(-) diff --git a/chapter-101-bitcoin-what-is-it/101-combined.json b/chapter-101-bitcoin-what-is-it/101-combined.json index 82a9b71..b24c675 100644 --- a/chapter-101-bitcoin-what-is-it/101-combined.json +++ b/chapter-101-bitcoin-what-is-it/101-combined.json @@ -1,112 +1,82 @@ -[ - { - "whatIsBitcoin": { - "title": "So what exactly is Bitcoin?", - "questions": { - "whatIsBitcoin": { - "answers": [ - "Digital Money", - "A video game", - "A new cartoon character" - ], - "feedback": [ - "Correct. You just earned 1 “sat”!", - "Incorrect, please try again.", - "Nope. At least not one that we know of!" - ], - "question": "So what exactly is Bitcoin", - "text": "Bitcoin is digital money. It can be transferred instantly and securely between any two people in the world — without the need for a bank or any other financial company in the middle.", - "title": "So what exactly is Bitcoin" - } - } - } - }, - { - "sat": { - "title": "I just earned a “Sat”. What is that?", - "questions": { - "sat": { - "answers": [ - "The smallest unit of Bitcoin", - "A small satellite", - "A space cat 🐱🚀" - ], - "feedback": [ - "Correct. You just earned another two sats!!", - "Maybe… but that is not the correct answer in this context 🙂", - "Ummm.... not quite!" - ], - "question": "I just earned a “Sat\". What is that?", - "text": "One “Sat” is the smallest unit of a bitcoin. We all know that one US Dollar can be divided into 100 cents. Similarly, one Bitcoin can be divided into 100,000,000 sats. In fact, you do not need to own one whole bitcoin in order to use it. You can use bitcoin whether you have 20 sats, 3000 sats — or 100,000,000 sats (which you now know is equal to one bitcoin).\n", - "title": "I just earned a “Sat\". What is that?" - } - } - } - }, - { - "whereBitcoinExist": { - "title": "Where do the bitcoins exist?", - "questions": { - "whereBitcoinExist": { - "answers": [ - "On the Internet", - "On the moon", - "In a Federal bank account" - ], - "feedback": [ - "Correct. You just earned another 5 sats.", - "Incorrect. Well… at least not yet ;)", - "Wrong. Please try again." - ], - "question": "Where do the bitcoins exist?", - "text": "Bitcoin is a new form of money. It can be used by anyone, anytime -- anywhere in the world. It is not tied to a specific government or region (like US Dollars). There are also no paper bills, metal coins or plastic cards. Everything is 100% digital. Bitcoin is a network of computers running on the internet. Your bitcoin is easily managed with software on your smartphone or computer!\n", - "title": "Where do the bitcoins exist?" - } - } - } - }, - { - "whoControlsBitcoin": { - "title": "Who controls Bitcoin?", - "questions": { - "whoControlsBitcoin": { - "answers": [ - "A voluntary community of users around the world", - "Mr Burns from The Simpsons", - "The government of France" - ], - "feedback": [ - "That is right. Bitcoin is made possible by people all around the world running bitcoin software on their computers and smartphones.", - "An amusing thought — but not correct!", - "Wrong. There is no company nor government that controls Bitcoin." - ], - "question": "Who controls Bitcoin?", - "text": "Bitcoin is not controlled by any person, company or government. It is run by the community of users -- people and companies all around the world -- voluntarily running bitcoin software on their computers and smartphones.\n", - "title": "Who controls Bitcoin?" - } - } - } - }, - { - "copyBitcoin": { - "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", - "questions": { - "copyBitcoin": { - "answers": [ - "No — it is impossible to copy or duplicate the value of bitcoin", - "Yes, you can copy bitcoins just as easily as copying a digital photo", - "Yes, but copying bitcoin requires very specialized computers" - ], - "feedback": [ - "copy or duplicate the value of bitcoin", - "You know that it is not true. Try again.", - "Incorrect. There is no way for anyone to copy, or create a duplicate, of bitcoin." - ], - "question": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", - "text": "The value of a bitcoin can never be copied. This is the very reason why Bitcoin is such a powerful new invention!! Most digital files — such as an iPhone photo, an MP3 song, or a Microsoft Word document — can easily be duplicated and shared. The Bitcoin software uniquely prevents the duplication — or “double spending” — of digital money. We will share exactly how this works later on!\n", - "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?" - } +{ + "BitcoinWhatisit": { + "title": "Bitcoin: What is it?", + "questions": { + "whatIsBitcoin": { + "answers": [ + "Digital Money", + "A video game", + "A new cartoon character" + ], + "feedback": [ + "Correct. You just earned 1 “sat”!", + "Incorrect, please try again.", + "Nope. At least not one that we know of!" + ], + "question": "So what exactly is Bitcoin", + "text": "Bitcoin is digital money. It can be transferred instantly and securely between any two people in the world — without the need for a bank or any other financial company in the middle.", + "title": "So what exactly is Bitcoin" + }, + "sat": { + "answers": [ + "The smallest unit of Bitcoin", + "A small satellite", + "A space cat 🐱🚀" + ], + "feedback": [ + "Correct. You just earned another two sats!!", + "Maybe… but that is not the correct answer in this context 🙂", + "Ummm.... not quite!" + ], + "question": "I just earned a “Sat\". What is that?", + "text": "One “Sat” is the smallest unit of a bitcoin. We all know that one US Dollar can be divided into 100 cents. Similarly, one Bitcoin can be divided into 100,000,000 sats. In fact, you do not need to own one whole bitcoin in order to use it. You can use bitcoin whether you have 20 sats, 3000 sats — or 100,000,000 sats (which you now know is equal to one bitcoin).\n", + "title": "I just earned a “Sat\". What is that?" + }, + "whereBitcoinExist": { + "answers": [ + "On the Internet", + "On the moon", + "In a Federal bank account" + ], + "feedback": [ + "Correct. You just earned another 5 sats.", + "Incorrect. Well… at least not yet ;)", + "Wrong. Please try again." + ], + "question": "Where do the bitcoins exist?", + "text": "Bitcoin is a new form of money. It can be used by anyone, anytime -- anywhere in the world. It is not tied to a specific government or region (like US Dollars). There are also no paper bills, metal coins or plastic cards. Everything is 100% digital. Bitcoin is a network of computers running on the internet. Your bitcoin is easily managed with software on your smartphone or computer!\n", + "title": "Where do the bitcoins exist?" + }, + "whoControlsBitcoin": { + "answers": [ + "A voluntary community of users around the world", + "Mr Burns from The Simpsons", + "The government of France" + ], + "feedback": [ + "That is right. Bitcoin is made possible by people all around the world running bitcoin software on their computers and smartphones.", + "An amusing thought — but not correct!", + "Wrong. There is no company nor government that controls Bitcoin." + ], + "question": "Who controls Bitcoin?", + "text": "Bitcoin is not controlled by any person, company or government. It is run by the community of users -- people and companies all around the world -- voluntarily running bitcoin software on their computers and smartphones.\n", + "title": "Who controls Bitcoin?" + }, + "copyBitcoin": { + "answers": [ + "No — it is impossible to copy or duplicate the value of bitcoin", + "Yes, you can copy bitcoins just as easily as copying a digital photo", + "Yes, but copying bitcoin requires very specialized computers" + ], + "feedback": [ + "copy or duplicate the value of bitcoin", + "You know that it is not true. Try again.", + "Incorrect. There is no way for anyone to copy, or create a duplicate, of bitcoin." + ], + "question": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", + "text": "The value of a bitcoin can never be copied. This is the very reason why Bitcoin is such a powerful new invention!! Most digital files — such as an iPhone photo, an MP3 song, or a Microsoft Word document — can easily be duplicated and shared. The Bitcoin software uniquely prevents the duplication — or “double spending” — of digital money. We will share exactly how this works later on!\n", + "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?" } } } -] +} diff --git a/chapter-101-bitcoin-what-is-it/101.01-lesson-what-is-bitcoin.json b/chapter-101-bitcoin-what-is-it/101.01-lesson-what-is-bitcoin.json index aca2087..e80e849 100644 --- a/chapter-101-bitcoin-what-is-it/101.01-lesson-what-is-bitcoin.json +++ b/chapter-101-bitcoin-what-is-it/101.01-lesson-what-is-bitcoin.json @@ -1,22 +1,18 @@ { "whatIsBitcoin": { - "title": "So what exactly is Bitcoin?", - "questions": { - "whatIsBitcoin": { - "answers": [ - "Digital Money", - "A video game", - "A new cartoon character" - ], - "feedback": [ - "Correct. You just earned 1 “sat”!", - "Incorrect, please try again.", - "Nope. At least not one that we know of!" - ], - "question": "So what exactly is Bitcoin", - "text": "Bitcoin is digital money. It can be transferred instantly and securely between any two people in the world — without the need for a bank or any other financial company in the middle.", - "title": "So what exactly is Bitcoin" - } - } + "screen": "whatIsBitcoin", + "answers": [ + "Digital Money", + "A video game", + "A new cartoon character" + ], + "feedback": [ + "Correct. You just earned 1 “sat”!", + "Incorrect, please try again.", + "Nope. At least not one that we know of!" + ], + "question": "So what exactly is Bitcoin", + "text": "Bitcoin is digital money. It can be transferred instantly and securely between any two people in the world — without the need for a bank or any other financial company in the middle.", + "title": "So what exactly is Bitcoin" } } diff --git a/chapter-101-bitcoin-what-is-it/101.02-lesson-sat.json b/chapter-101-bitcoin-what-is-it/101.02-lesson-sat.json index 94fcb42..0f928bc 100644 --- a/chapter-101-bitcoin-what-is-it/101.02-lesson-sat.json +++ b/chapter-101-bitcoin-what-is-it/101.02-lesson-sat.json @@ -1,22 +1,18 @@ { "sat": { - "title": "I just earned a “Sat”. What is that?", - "questions": { - "sat": { - "answers": [ - "The smallest unit of Bitcoin", - "A small satellite", - "A space cat 🐱🚀" - ], - "feedback": [ - "Correct. You just earned another two sats!!", - "Maybe… but that is not the correct answer in this context 🙂", - "Ummm.... not quite!" - ], - "question": "I just earned a “Sat\". What is that?", - "text": "One “Sat” is the smallest unit of a bitcoin. We all know that one US Dollar can be divided into 100 cents. Similarly, one Bitcoin can be divided into 100,000,000 sats. In fact, you do not need to own one whole bitcoin in order to use it. You can use bitcoin whether you have 20 sats, 3000 sats — or 100,000,000 sats (which you now know is equal to one bitcoin).\n", - "title": "I just earned a “Sat\". What is that?" - } - } + "screen": "sat", + "answers": [ + "The smallest unit of Bitcoin", + "A small satellite", + "A space cat 🐱🚀" + ], + "feedback": [ + "Correct. You just earned another two sats!!", + "Maybe… but that is not the correct answer in this context 🙂", + "Ummm.... not quite!" + ], + "question": "I just earned a “Sat\". What is that?", + "text": "One “Sat” is the smallest unit of a bitcoin. We all know that one US Dollar can be divided into 100 cents. Similarly, one Bitcoin can be divided into 100,000,000 sats. In fact, you do not need to own one whole bitcoin in order to use it. You can use bitcoin whether you have 20 sats, 3000 sats — or 100,000,000 sats (which you now know is equal to one bitcoin).\n", + "title": "I just earned a “Sat\". What is that?" } } diff --git a/chapter-101-bitcoin-what-is-it/101.03-lesson-where-bitcoin-exist.json b/chapter-101-bitcoin-what-is-it/101.03-lesson-where-bitcoin-exist.json index 6b03a61..1690090 100644 --- a/chapter-101-bitcoin-what-is-it/101.03-lesson-where-bitcoin-exist.json +++ b/chapter-101-bitcoin-what-is-it/101.03-lesson-where-bitcoin-exist.json @@ -1,22 +1,18 @@ { "whereBitcoinExist": { - "title": "Where do the bitcoins exist?", - "questions": { - "whereBitcoinExist": { - "answers": [ - "On the Internet", - "On the moon", - "In a Federal bank account" - ], - "feedback": [ - "Correct. You just earned another 5 sats.", - "Incorrect. Well… at least not yet ;)", - "Wrong. Please try again." - ], - "question": "Where do the bitcoins exist?", - "text": "Bitcoin is a new form of money. It can be used by anyone, anytime -- anywhere in the world. It is not tied to a specific government or region (like US Dollars). There are also no paper bills, metal coins or plastic cards. Everything is 100% digital. Bitcoin is a network of computers running on the internet. Your bitcoin is easily managed with software on your smartphone or computer!\n", - "title": "Where do the bitcoins exist?" - } - } + "screen": "whereBitcoinExist", + "answers": [ + "On the Internet", + "On the moon", + "In a Federal bank account" + ], + "feedback": [ + "Correct. You just earned another 5 sats.", + "Incorrect. Well… at least not yet ;)", + "Wrong. Please try again." + ], + "question": "Where do the bitcoins exist?", + "text": "Bitcoin is a new form of money. It can be used by anyone, anytime -- anywhere in the world. It is not tied to a specific government or region (like US Dollars). There are also no paper bills, metal coins or plastic cards. Everything is 100% digital. Bitcoin is a network of computers running on the internet. Your bitcoin is easily managed with software on your smartphone or computer!\n", + "title": "Where do the bitcoins exist?" } } diff --git a/chapter-101-bitcoin-what-is-it/101.04-lesson-who-controls-bitcoin.json b/chapter-101-bitcoin-what-is-it/101.04-lesson-who-controls-bitcoin.json index 634cd17..2580069 100644 --- a/chapter-101-bitcoin-what-is-it/101.04-lesson-who-controls-bitcoin.json +++ b/chapter-101-bitcoin-what-is-it/101.04-lesson-who-controls-bitcoin.json @@ -1,22 +1,18 @@ { "whoControlsBitcoin": { - "title": "Who controls Bitcoin?", - "questions": { - "whoControlsBitcoin": { - "answers": [ - "A voluntary community of users around the world", - "Mr Burns from The Simpsons", - "The government of France" - ], - "feedback": [ - "That is right. Bitcoin is made possible by people all around the world running bitcoin software on their computers and smartphones.", - "An amusing thought — but not correct!", - "Wrong. There is no company nor government that controls Bitcoin." - ], - "question": "Who controls Bitcoin?", - "text": "Bitcoin is not controlled by any person, company or government. It is run by the community of users -- people and companies all around the world -- voluntarily running bitcoin software on their computers and smartphones.\n", - "title": "Who controls Bitcoin?" - } - } + "screen": "whoControlsBitcoin", + "answers": [ + "A voluntary community of users around the world", + "Mr Burns from The Simpsons", + "The government of France" + ], + "feedback": [ + "That is right. Bitcoin is made possible by people all around the world running bitcoin software on their computers and smartphones.", + "An amusing thought — but not correct!", + "Wrong. There is no company nor government that controls Bitcoin." + ], + "question": "Who controls Bitcoin?", + "text": "Bitcoin is not controlled by any person, company or government. It is run by the community of users -- people and companies all around the world -- voluntarily running bitcoin software on their computers and smartphones.\n", + "title": "Who controls Bitcoin?" } } diff --git a/chapter-101-bitcoin-what-is-it/101.05-lesson-copy-bitcoin.json b/chapter-101-bitcoin-what-is-it/101.05-lesson-copy-bitcoin.json index d488384..4cfabdb 100644 --- a/chapter-101-bitcoin-what-is-it/101.05-lesson-copy-bitcoin.json +++ b/chapter-101-bitcoin-what-is-it/101.05-lesson-copy-bitcoin.json @@ -1,22 +1,18 @@ { "copyBitcoin": { - "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", - "questions": { - "copyBitcoin": { - "answers": [ - "No — it is impossible to copy or duplicate the value of bitcoin", - "Yes, you can copy bitcoins just as easily as copying a digital photo", - "Yes, but copying bitcoin requires very specialized computers" - ], - "feedback": [ - "copy or duplicate the value of bitcoin", - "You know that it is not true. Try again.", - "Incorrect. There is no way for anyone to copy, or create a duplicate, of bitcoin." - ], - "question": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", - "text": "The value of a bitcoin can never be copied. This is the very reason why Bitcoin is such a powerful new invention!! Most digital files — such as an iPhone photo, an MP3 song, or a Microsoft Word document — can easily be duplicated and shared. The Bitcoin software uniquely prevents the duplication — or “double spending” — of digital money. We will share exactly how this works later on!\n", - "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?" - } - } + "screen": "copyBitcoin", + "answers": [ + "No — it is impossible to copy or duplicate the value of bitcoin", + "Yes, you can copy bitcoins just as easily as copying a digital photo", + "Yes, but copying bitcoin requires very specialized computers" + ], + "feedback": [ + "copy or duplicate the value of bitcoin", + "You know that it is not true. Try again.", + "Incorrect. There is no way for anyone to copy, or create a duplicate, of bitcoin." + ], + "question": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", + "text": "The value of a bitcoin can never be copied. This is the very reason why Bitcoin is such a powerful new invention!! Most digital files — such as an iPhone photo, an MP3 song, or a Microsoft Word document — can easily be duplicated and shared. The Bitcoin software uniquely prevents the duplication — or “double spending” — of digital money. We will share exactly how this works later on!\n", + "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?" } } diff --git a/chapter-102-what-is-money/102-combined.json b/chapter-102-what-is-money/102-combined.json index 8bd9cf0..d8cdd65 100644 --- a/chapter-102-what-is-money/102-combined.json +++ b/chapter-102-what-is-money/102-combined.json @@ -1,134 +1,97 @@ -[ - { - "moneySocialAgreement": { - "title": "Money is a social agreement.", - "questions": { - "moneySocialAgreement": { - "answers": [ - "Because people trust that other people will value money similarly", - "Because your mother told you so", - "Because a dollar bill is worth its weight in gold" - ], - "feedback": [ - "Correct. This is what allows money to work!", - "She may well have. But that is not the correct answer here!", - "Nope. In the past you could exchange US dollars for gold. But this is no longer the case." - ], - "question": "Why does money have value?", - "text": "Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.\n", - "title": "Why does money have value?" - } - } - } - }, - { - "coincidenceOfWants": { - "title": "Money solves the “coincidence of wants”... What is that??", - "questions": { - "coincidenceOfWants": { - "answers": [ - "Coincidence of wants", - "Coincidence of day and night", - "Coincidence of the moon blocking the sun" - ], - "feedback": [ - "That is right. Money allows you to easily purchase something, without haggling about the form of payment", - "No silly, you know that is not the answer.", - "Not quite. We call that a solar eclipse 🌚" - ], - "question": "Which coincidence does money solve?", - "text": "Centuries ago, before people had money, they would barter -- or haggle over how to trade one unique item, in exchange for another item or service. Let’s say you wanted to have a meal at the local restaurant, and offered the owner a broom. The owner might say “no” -- but I will accept three hats instead, if you happen to have them. You can imagine how difficult and inefficient a “barter economy” would be! By contrast, with money, you can simply present a $20 bill. And you know that the restaurant owner will readily accept it.\n", - "title": "Which coincidence does money solve?" - } - } - } - }, - { - "moneyEvolution": { - "title": "Money has evolved, since almost the beginning of time.", - "questions": { - "moneyEvolution": { - "answers": [ - "Stones, seashells and gold", - "Tiny plastic Monopoly board game houses", - "Coins made of chocolate" - ], - "feedback": [ - "Correct. Items that are rare and difficult to copy have often been used as money.", - "Wrong. They may have value when playing a game -- but not in the real world!", - "Nope. They may be tasty. But they are not useful as money." - ], - "question": "What are some items that have been historically used as a unit of money?", - "text": "Thousands of years ago, a society in Micronesia used very large and scarce stones as a form of agreed currency. Starting in the 1500’s, rare Cowrie shells (found in the ocean) became commonly used in many nations as a form of money. And for millennia, gold has been used as a form of money for countries around the world -- including the United States (until 1971).\n", - "title": "What are some items that have been historically used as a unit of money?" - } - } - } - }, - { - "whyStonesShellGold": { - "title": "Why were stones, shells and gold commonly used as money in the past?", - "questions": { - "whyStonesShellGold": { - "answers": [ - "Because they have key characteristics -- such as being durable, uniform and divisible.", - "Because they are pretty and shiny.", - "Because they fit inside of your pocket" - ], - "feedback": [ - "Correct. More key characteristics include being scarce and portable.", - "Incorrect. That may be true, but alone are not great characteristics of money.", - "Not quite. Although these items were surely portable, that alone was not the reason to be used as money." - ], - "question": "Why were stones, seashells and gold used as units of money?", - "text": "Well, these items all had some -- but not all -- of the characteristics of good money.\n\n\n\nSo what characteristics make for “good” money?\nScarce: not abundant, nor easy to reproduce or copy\nAccepted: relatively easy for people to verify its authenticity\nDurable: easy to maintain, and does not perish or fall apart\nUniform: readily interchangeable with another item of the same form\nPortable: easy to transport\nDivisible: can be split and shared in smaller pieces\n", - "title": "Why were stones, seashells and gold used as units of money?" - } - } - } - }, - { - "moneyIsImportant": { - "title": "Money is important to individuals", - "questions": { - "moneyIsImportant": { - "answers": [ - "Money allows people to buy goods and services today -- and tomorrow.", - "Money allows you to go to the moon.", - "Money is the solution to all problems." - ], - "feedback": [ - "That is right!", - "Incorrect. Although that may change in the future ;)", - "Not quite. Although some people may believe such, this answer does not address the primary purpose of money." - ], - "question": "What is the primary reason money is important?", - "text": "Everybody knows that money matters.\n\n\nMost people exchange their time and energy -- in the form of work -- to obtain money. People do so, to be able to buy goods and services today -- and in the future.\n", - "title": "What is the primary reason money is important?" - } - } - } - }, - { - "moneyImportantGovernement": { - "title": "Money is also important to governments", - "questions": { - "moneyImportantGovernement": { - "answers": [ - "The US Central Bank (The Federal Reserve)", - "Mr Burns from The Simpsons", - "A guy with a printing press in his basement" - ], - "feedback": [ - "Correct. The US Government can print as much money as they want at any time.", - "Incorrect. Although it did seem like he always had a lot of money.", - "No. Whilst some people do create fake dollar bills, it is definitely not legal!" - ], - "question": "Who can legally print US Dollars, anytime they wish?", - "text": "Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.\n \n Accordingly, in most every nation, the government holds the power to issue and control money.\n\n\n In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.\n\n\n The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\n Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??\n", - "title": "Who can legally print US Dollars, anytime they wish?" - } +{ + "WhatisMoney": { + "title": "What is Money?", + "questions": { + "moneySocialAgreement": { + "answers": [ + "Because people trust that other people will value money similarly", + "Because your mother told you so", + "Because a dollar bill is worth its weight in gold" + ], + "feedback": [ + "Correct. This is what allows money to work!", + "She may well have. But that is not the correct answer here!", + "Nope. In the past you could exchange US dollars for gold. But this is no longer the case." + ], + "question": "Why does money have value?", + "text": "Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.\n", + "title": "Why does money have value?" + }, + "coincidenceOfWants": { + "answers": [ + "Coincidence of wants", + "Coincidence of day and night", + "Coincidence of the moon blocking the sun" + ], + "feedback": [ + "That is right. Money allows you to easily purchase something, without haggling about the form of payment", + "No silly, you know that is not the answer.", + "Not quite. We call that a solar eclipse 🌚" + ], + "question": "Which coincidence does money solve?", + "text": "Centuries ago, before people had money, they would barter -- or haggle over how to trade one unique item, in exchange for another item or service. Let’s say you wanted to have a meal at the local restaurant, and offered the owner a broom. The owner might say “no” -- but I will accept three hats instead, if you happen to have them. You can imagine how difficult and inefficient a “barter economy” would be! By contrast, with money, you can simply present a $20 bill. And you know that the restaurant owner will readily accept it.\n", + "title": "Which coincidence does money solve?" + }, + "moneyEvolution": { + "answers": [ + "Stones, seashells and gold", + "Tiny plastic Monopoly board game houses", + "Coins made of chocolate" + ], + "feedback": [ + "Correct. Items that are rare and difficult to copy have often been used as money.", + "Wrong. They may have value when playing a game -- but not in the real world!", + "Nope. They may be tasty. But they are not useful as money." + ], + "question": "What are some items that have been historically used as a unit of money?", + "text": "Thousands of years ago, a society in Micronesia used very large and scarce stones as a form of agreed currency. Starting in the 1500’s, rare Cowrie shells (found in the ocean) became commonly used in many nations as a form of money. And for millennia, gold has been used as a form of money for countries around the world -- including the United States (until 1971).\n", + "title": "What are some items that have been historically used as a unit of money?" + }, + "whyStonesShellGold": { + "answers": [ + "Because they have key characteristics -- such as being durable, uniform and divisible.", + "Because they are pretty and shiny.", + "Because they fit inside of your pocket" + ], + "feedback": [ + "Correct. More key characteristics include being scarce and portable.", + "Incorrect. That may be true, but alone are not great characteristics of money.", + "Not quite. Although these items were surely portable, that alone was not the reason to be used as money." + ], + "question": "Why were stones, seashells and gold used as units of money?", + "text": "Well, these items all had some -- but not all -- of the characteristics of good money.\n\n\n\nSo what characteristics make for “good” money?\nScarce: not abundant, nor easy to reproduce or copy\nAccepted: relatively easy for people to verify its authenticity\nDurable: easy to maintain, and does not perish or fall apart\nUniform: readily interchangeable with another item of the same form\nPortable: easy to transport\nDivisible: can be split and shared in smaller pieces\n", + "title": "Why were stones, seashells and gold used as units of money?" + }, + "moneyIsImportant": { + "answers": [ + "Money allows people to buy goods and services today -- and tomorrow.", + "Money allows you to go to the moon.", + "Money is the solution to all problems." + ], + "feedback": [ + "That is right!", + "Incorrect. Although that may change in the future ;)", + "Not quite. Although some people may believe such, this answer does not address the primary purpose of money." + ], + "question": "What is the primary reason money is important?", + "text": "Everybody knows that money matters.\n\n\nMost people exchange their time and energy -- in the form of work -- to obtain money. People do so, to be able to buy goods and services today -- and in the future.\n", + "title": "What is the primary reason money is important?" + }, + "moneyImportantGovernement": { + "answers": [ + "The US Central Bank (The Federal Reserve)", + "Mr Burns from The Simpsons", + "A guy with a printing press in his basement" + ], + "feedback": [ + "Correct. The US Government can print as much money as they want at any time.", + "Incorrect. Although it did seem like he always had a lot of money.", + "No. Whilst some people do create fake dollar bills, it is definitely not legal!" + ], + "question": "Who can legally print US Dollars, anytime they wish?", + "text": "Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.\n \n Accordingly, in most every nation, the government holds the power to issue and control money.\n\n\n In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.\n\n\n The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\n Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??\n", + "title": "Who can legally print US Dollars, anytime they wish?" } } } -] +} diff --git a/chapter-102-what-is-money/102.01-lesson-money-social-agreement.json b/chapter-102-what-is-money/102.01-lesson-money-social-agreement.json index e5174e9..f97b673 100644 --- a/chapter-102-what-is-money/102.01-lesson-money-social-agreement.json +++ b/chapter-102-what-is-money/102.01-lesson-money-social-agreement.json @@ -1,22 +1,18 @@ { "moneySocialAgreement": { - "title": "Money is a social agreement.", - "questions": { - "moneySocialAgreement": { - "answers": [ - "Because people trust that other people will value money similarly", - "Because your mother told you so", - "Because a dollar bill is worth its weight in gold" - ], - "feedback": [ - "Correct. This is what allows money to work!", - "She may well have. But that is not the correct answer here!", - "Nope. In the past you could exchange US dollars for gold. But this is no longer the case." - ], - "question": "Why does money have value?", - "text": "Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.\n", - "title": "Why does money have value?" - } - } + "screen": "moneySocialAgreement", + "answers": [ + "Because people trust that other people will value money similarly", + "Because your mother told you so", + "Because a dollar bill is worth its weight in gold" + ], + "feedback": [ + "Correct. This is what allows money to work!", + "She may well have. But that is not the correct answer here!", + "Nope. In the past you could exchange US dollars for gold. But this is no longer the case." + ], + "question": "Why does money have value?", + "text": "Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.\n", + "title": "Why does money have value?" } } diff --git a/chapter-102-what-is-money/102.02-lesson-coincidence-of-wants.json b/chapter-102-what-is-money/102.02-lesson-coincidence-of-wants.json index 5379d27..a50c92a 100644 --- a/chapter-102-what-is-money/102.02-lesson-coincidence-of-wants.json +++ b/chapter-102-what-is-money/102.02-lesson-coincidence-of-wants.json @@ -1,22 +1,18 @@ { "coincidenceOfWants": { - "title": "Money solves the “coincidence of wants”... What is that??", - "questions": { - "coincidenceOfWants": { - "answers": [ - "Coincidence of wants", - "Coincidence of day and night", - "Coincidence of the moon blocking the sun" - ], - "feedback": [ - "That is right. Money allows you to easily purchase something, without haggling about the form of payment", - "No silly, you know that is not the answer.", - "Not quite. We call that a solar eclipse 🌚" - ], - "question": "Which coincidence does money solve?", - "text": "Centuries ago, before people had money, they would barter -- or haggle over how to trade one unique item, in exchange for another item or service. Let’s say you wanted to have a meal at the local restaurant, and offered the owner a broom. The owner might say “no” -- but I will accept three hats instead, if you happen to have them. You can imagine how difficult and inefficient a “barter economy” would be! By contrast, with money, you can simply present a $20 bill. And you know that the restaurant owner will readily accept it.\n", - "title": "Which coincidence does money solve?" - } - } + "screen": "coincidenceOfWants", + "answers": [ + "Coincidence of wants", + "Coincidence of day and night", + "Coincidence of the moon blocking the sun" + ], + "feedback": [ + "That is right. Money allows you to easily purchase something, without haggling about the form of payment", + "No silly, you know that is not the answer.", + "Not quite. We call that a solar eclipse 🌚" + ], + "question": "Which coincidence does money solve?", + "text": "Centuries ago, before people had money, they would barter -- or haggle over how to trade one unique item, in exchange for another item or service. Let’s say you wanted to have a meal at the local restaurant, and offered the owner a broom. The owner might say “no” -- but I will accept three hats instead, if you happen to have them. You can imagine how difficult and inefficient a “barter economy” would be! By contrast, with money, you can simply present a $20 bill. And you know that the restaurant owner will readily accept it.\n", + "title": "Which coincidence does money solve?" } } diff --git a/chapter-102-what-is-money/102.03-lesson-money-evolution.json b/chapter-102-what-is-money/102.03-lesson-money-evolution.json index ff2fec2..f4b2420 100644 --- a/chapter-102-what-is-money/102.03-lesson-money-evolution.json +++ b/chapter-102-what-is-money/102.03-lesson-money-evolution.json @@ -1,22 +1,18 @@ { "moneyEvolution": { - "title": "Money has evolved, since almost the beginning of time.", - "questions": { - "moneyEvolution": { - "answers": [ - "Stones, seashells and gold", - "Tiny plastic Monopoly board game houses", - "Coins made of chocolate" - ], - "feedback": [ - "Correct. Items that are rare and difficult to copy have often been used as money.", - "Wrong. They may have value when playing a game -- but not in the real world!", - "Nope. They may be tasty. But they are not useful as money." - ], - "question": "What are some items that have been historically used as a unit of money?", - "text": "Thousands of years ago, a society in Micronesia used very large and scarce stones as a form of agreed currency. Starting in the 1500’s, rare Cowrie shells (found in the ocean) became commonly used in many nations as a form of money. And for millennia, gold has been used as a form of money for countries around the world -- including the United States (until 1971).\n", - "title": "What are some items that have been historically used as a unit of money?" - } - } + "screen": "moneyEvolution", + "answers": [ + "Stones, seashells and gold", + "Tiny plastic Monopoly board game houses", + "Coins made of chocolate" + ], + "feedback": [ + "Correct. Items that are rare and difficult to copy have often been used as money.", + "Wrong. They may have value when playing a game -- but not in the real world!", + "Nope. They may be tasty. But they are not useful as money." + ], + "question": "What are some items that have been historically used as a unit of money?", + "text": "Thousands of years ago, a society in Micronesia used very large and scarce stones as a form of agreed currency. Starting in the 1500’s, rare Cowrie shells (found in the ocean) became commonly used in many nations as a form of money. And for millennia, gold has been used as a form of money for countries around the world -- including the United States (until 1971).\n", + "title": "What are some items that have been historically used as a unit of money?" } } diff --git a/chapter-102-what-is-money/102.04-lesson-why-stones-shell-gold.json b/chapter-102-what-is-money/102.04-lesson-why-stones-shell-gold.json index 773321b..ec263eb 100644 --- a/chapter-102-what-is-money/102.04-lesson-why-stones-shell-gold.json +++ b/chapter-102-what-is-money/102.04-lesson-why-stones-shell-gold.json @@ -1,22 +1,18 @@ { "whyStonesShellGold": { - "title": "Why were stones, shells and gold commonly used as money in the past?", - "questions": { - "whyStonesShellGold": { - "answers": [ - "Because they have key characteristics -- such as being durable, uniform and divisible.", - "Because they are pretty and shiny.", - "Because they fit inside of your pocket" - ], - "feedback": [ - "Correct. More key characteristics include being scarce and portable.", - "Incorrect. That may be true, but alone are not great characteristics of money.", - "Not quite. Although these items were surely portable, that alone was not the reason to be used as money." - ], - "question": "Why were stones, seashells and gold used as units of money?", - "text": "Well, these items all had some -- but not all -- of the characteristics of good money.\n\n\n\nSo what characteristics make for “good” money?\nScarce: not abundant, nor easy to reproduce or copy\nAccepted: relatively easy for people to verify its authenticity\nDurable: easy to maintain, and does not perish or fall apart\nUniform: readily interchangeable with another item of the same form\nPortable: easy to transport\nDivisible: can be split and shared in smaller pieces\n", - "title": "Why were stones, seashells and gold used as units of money?" - } - } + "screen": "whyStonesShellGold", + "answers": [ + "Because they have key characteristics -- such as being durable, uniform and divisible.", + "Because they are pretty and shiny.", + "Because they fit inside of your pocket" + ], + "feedback": [ + "Correct. More key characteristics include being scarce and portable.", + "Incorrect. That may be true, but alone are not great characteristics of money.", + "Not quite. Although these items were surely portable, that alone was not the reason to be used as money." + ], + "question": "Why were stones, seashells and gold used as units of money?", + "text": "Well, these items all had some -- but not all -- of the characteristics of good money.\n\n\n\nSo what characteristics make for “good” money?\nScarce: not abundant, nor easy to reproduce or copy\nAccepted: relatively easy for people to verify its authenticity\nDurable: easy to maintain, and does not perish or fall apart\nUniform: readily interchangeable with another item of the same form\nPortable: easy to transport\nDivisible: can be split and shared in smaller pieces\n", + "title": "Why were stones, seashells and gold used as units of money?" } } diff --git a/chapter-102-what-is-money/102.05-lesson-money-is-important.json b/chapter-102-what-is-money/102.05-lesson-money-is-important.json index 86d76e5..6ec68c9 100644 --- a/chapter-102-what-is-money/102.05-lesson-money-is-important.json +++ b/chapter-102-what-is-money/102.05-lesson-money-is-important.json @@ -1,22 +1,18 @@ { "moneyIsImportant": { - "title": "Money is important to individuals", - "questions": { - "moneyIsImportant": { - "answers": [ - "Money allows people to buy goods and services today -- and tomorrow.", - "Money allows you to go to the moon.", - "Money is the solution to all problems." - ], - "feedback": [ - "That is right!", - "Incorrect. Although that may change in the future ;)", - "Not quite. Although some people may believe such, this answer does not address the primary purpose of money." - ], - "question": "What is the primary reason money is important?", - "text": "Everybody knows that money matters.\n\n\nMost people exchange their time and energy -- in the form of work -- to obtain money. People do so, to be able to buy goods and services today -- and in the future.\n", - "title": "What is the primary reason money is important?" - } - } + "screen": "moneyIsImportant", + "answers": [ + "Money allows people to buy goods and services today -- and tomorrow.", + "Money allows you to go to the moon.", + "Money is the solution to all problems." + ], + "feedback": [ + "That is right!", + "Incorrect. Although that may change in the future ;)", + "Not quite. Although some people may believe such, this answer does not address the primary purpose of money." + ], + "question": "What is the primary reason money is important?", + "text": "Everybody knows that money matters.\n\n\nMost people exchange their time and energy -- in the form of work -- to obtain money. People do so, to be able to buy goods and services today -- and in the future.\n", + "title": "What is the primary reason money is important?" } } diff --git a/chapter-102-what-is-money/102.06-lesson-money-important-governement.json b/chapter-102-what-is-money/102.06-lesson-money-important-governement.json index d32266a..9c08036 100644 --- a/chapter-102-what-is-money/102.06-lesson-money-important-governement.json +++ b/chapter-102-what-is-money/102.06-lesson-money-important-governement.json @@ -1,22 +1,18 @@ { "moneyImportantGovernement": { - "title": "Money is also important to governments", - "questions": { - "moneyImportantGovernement": { - "answers": [ - "The US Central Bank (The Federal Reserve)", - "Mr Burns from The Simpsons", - "A guy with a printing press in his basement" - ], - "feedback": [ - "Correct. The US Government can print as much money as they want at any time.", - "Incorrect. Although it did seem like he always had a lot of money.", - "No. Whilst some people do create fake dollar bills, it is definitely not legal!" - ], - "question": "Who can legally print US Dollars, anytime they wish?", - "text": "Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.\n \n Accordingly, in most every nation, the government holds the power to issue and control money.\n\n\n In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.\n\n\n The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\n Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??\n", - "title": "Who can legally print US Dollars, anytime they wish?" - } - } + "screen": "moneyImportantGovernement", + "answers": [ + "The US Central Bank (The Federal Reserve)", + "Mr Burns from The Simpsons", + "A guy with a printing press in his basement" + ], + "feedback": [ + "Correct. The US Government can print as much money as they want at any time.", + "Incorrect. Although it did seem like he always had a lot of money.", + "No. Whilst some people do create fake dollar bills, it is definitely not legal!" + ], + "question": "Who can legally print US Dollars, anytime they wish?", + "text": "Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.\n \n Accordingly, in most every nation, the government holds the power to issue and control money.\n\n\n In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.\n\n\n The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\n Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??\n", + "title": "Who can legally print US Dollars, anytime they wish?" } } diff --git a/chapter-103-how-does-money-work/103-combined.json b/chapter-103-how-does-money-work/103-combined.json index e905c59..3bb6c64 100644 --- a/chapter-103-how-does-money-work/103-combined.json +++ b/chapter-103-how-does-money-work/103-combined.json @@ -1,112 +1,82 @@ -[ - { - "WhatIsFiat": { - "title": "Fiat Currency: What is that?", - "questions": { - "WhatIsFiat": { - "answers": [ - "They are created by order of the National government in a given country.", - "By the manager of the local branch bank.", - "The Monopoly Money Man." - ], - "feedback": [ - "Correct. The central bank of a government creates fiat currencies.", - "Not quite. While local banks can give out loans based on credit and create money by doing so, they cannot create fiat currencies. Try again.", - "Nope. Try again!" - ], - "question": "Who creates fiat currencies, such as US Dollars or Swiss Francs?", - "text": "All national currencies in circulation today are called “fiat” money. This includes US Dollars, Japanese Yen, Swiss Francs, and so forth.\n\n\nThe word “fiat” is latin for “by decree” -- which means “by official order”.\n\n\nThis means that all fiat money -- including the US Dollar -- is simply created by the order of the national government.\n", - "title": "Who creates fiat currencies, such as US Dollars or Swiss Francs?" - } - } - } - }, - { - "whyCareAboutFiatMoney": { - "title": "I trust my government. Why should I care about fiat money?", - "questions": { - "whyCareAboutFiatMoney": { - "answers": [ - "All fiat currency is eventually abused by government authorities.", - "Local banks might not have enough vault space to hold all of the dollar bills.", - "There might not be enough trees to make paper for all of the additional dollar bills." - ], - "feedback": [ - "Correct. Throughout history, governments have been unable to resist the ability to print money, as they effectively have no obligation to repay this money.", - "Nope, that is certainly not the case.", - "Wrong. Please try again." - ], - "question": "Why should I care about the government controlling fiat money?", - "text": "As shared in a prior quiz, the US Central Bank is the Federal Reserve, or the “Fed”.\n\n\nThe Fed can print more dollars at any time -- and does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\nHaving control of money can be very tempting for authorities to abuse -- and often time leads to massive inflation, arbitrary confiscation and corruption.\n\n\nIn fact, Alan Greenspan, the famous former chairman of The Fed, famously said the US “can pay any debt that it has, because we can always print more to do that”.\n", - "title": "Why should I care about the government controlling fiat money?" - } - } - } - }, - { - "GovernementCanPrintMoney": { - "title": "Who should care that the government can print unlimited money?", - "questions": { - "GovernementCanPrintMoney": { - "answers": [ - "The printing of additional money leads to inflation.", - "People must exchange old dollar bills at the bank every year.", - "The appearance of the dollar bill changes." - ], - "feedback": [ - "Correct. This means that goods and services will cost more in the future.", - "Nope. Older dollar bills are just as valid as newer ones.", - "Incorrect. Although the government may issue new looks for bills, this has nothing to do with increasing the money supply." - ], - "question": "What does it mean when the government prints money?", - "text": "Well, everybody should care!\n\n\nThe practice of government printing money -- or increasing the supply of dollars -- leads to inflation.\n\n\nInflation is an increase in the price of goods and services. In other words, the price for something in the future will be more expensive than today.\n\n\nSo what does inflation mean for citizens?\n\n\nIn the United Kingdom, the Pound Sterling has lost 99.5% of its value since being introduced over 300 years ago.\n\n\nIn the United States, the dollar has lost 97% of its value since the end of WWI, about 100 years ago.\n\n\nThis means a steak that cost $0.30 in 1920... was $3 in 1990… and about $15 today, in the year 2020!\n", - "title": "What does it mean when the government prints money?" - } - } - } - }, - { - "FiatLosesValueOverTime": { - "title": "Does this mean that all fiat money loses value over time?", - "questions": { - "FiatLosesValueOverTime": { - "answers": [ - "Every fiat currency that ever existed has lost a massive amount of value.", - "The value stays the same forever.", - "The look and design of paper bills is updated every 10 years or so." - ], - "feedback": [ - "Correct. This is true even for USD, which has lost 97% of its value during the last 100 years.", - "Incorrect. Please try again.", - "Not quite. Although the design of papers bills may change, this has nothing to do with their value." - ], - "question": "What happens to the value of all fiat money over time?", - "text": "That is correct.\n\n\nIn the history of the world, there have been 775 fiat currencies created. Most no longer exist, and the average life for any fiat money is only 27 years.\n\n\nThe British Pound is the oldest fiat currency. It has lost more than 99% of its value since 1694.\n\n\nThere is no precedent for any fiat money maintaining its value over time. This is inflation.\nIt is effectively a form of theft of your own hard earned money !\n", - "title": "What happens to the value of all fiat money over time?" - } - } - } - }, - { - "OtherIssues": { - "title": "OK, fiat money loses value over time. Are there other issues?", - "questions": { - "OtherIssues": { - "answers": [ - "Money is difficult to move around the world, and can also be surveilled.", - "Money is no longer needed in the 21st Century.", - "Money is the root of all evil." - ], - "feedback": [ - "Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!", - "Wrong answer. You know that is not true.", - "While some may believe this to be so, it is not the answer we are looking for here." - ], - "question": "What are some other issues that exist with fiat money?", - "text": "Yes, there are many other issues that exist with modern fiat money.\n\n\nFirst, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.\n\n\nSecond, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.\n\n\nEver notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.\n", - "title": "What are some other issues that exist with fiat money?" - } +{ + "HowDoesMoneyWork": { + "title": "How Does Money Work?", + "questions": { + "WhatIsFiat": { + "answers": [ + "They are created by order of the National government in a given country.", + "By the manager of the local branch bank.", + "The Monopoly Money Man." + ], + "feedback": [ + "Correct. The central bank of a government creates fiat currencies.", + "Not quite. While local banks can give out loans based on credit and create money by doing so, they cannot create fiat currencies. Try again.", + "Nope. Try again!" + ], + "question": "Who creates fiat currencies, such as US Dollars or Swiss Francs?", + "text": "All national currencies in circulation today are called “fiat” money. This includes US Dollars, Japanese Yen, Swiss Francs, and so forth.\n\n\nThe word “fiat” is latin for “by decree” -- which means “by official order”.\n\n\nThis means that all fiat money -- including the US Dollar -- is simply created by the order of the national government.\n", + "title": "Who creates fiat currencies, such as US Dollars or Swiss Francs?" + }, + "whyCareAboutFiatMoney": { + "answers": [ + "All fiat currency is eventually abused by government authorities.", + "Local banks might not have enough vault space to hold all of the dollar bills.", + "There might not be enough trees to make paper for all of the additional dollar bills." + ], + "feedback": [ + "Correct. Throughout history, governments have been unable to resist the ability to print money, as they effectively have no obligation to repay this money.", + "Nope, that is certainly not the case.", + "Wrong. Please try again." + ], + "question": "Why should I care about the government controlling fiat money?", + "text": "As shared in a prior quiz, the US Central Bank is the Federal Reserve, or the “Fed”.\n\n\nThe Fed can print more dollars at any time -- and does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\nHaving control of money can be very tempting for authorities to abuse -- and often time leads to massive inflation, arbitrary confiscation and corruption.\n\n\nIn fact, Alan Greenspan, the famous former chairman of The Fed, famously said the US “can pay any debt that it has, because we can always print more to do that”.\n", + "title": "Why should I care about the government controlling fiat money?" + }, + "GovernementCanPrintMoney": { + "answers": [ + "The printing of additional money leads to inflation.", + "People must exchange old dollar bills at the bank every year.", + "The appearance of the dollar bill changes." + ], + "feedback": [ + "Correct. This means that goods and services will cost more in the future.", + "Nope. Older dollar bills are just as valid as newer ones.", + "Incorrect. Although the government may issue new looks for bills, this has nothing to do with increasing the money supply." + ], + "question": "What does it mean when the government prints money?", + "text": "Well, everybody should care!\n\n\nThe practice of government printing money -- or increasing the supply of dollars -- leads to inflation.\n\n\nInflation is an increase in the price of goods and services. In other words, the price for something in the future will be more expensive than today.\n\n\nSo what does inflation mean for citizens?\n\n\nIn the United Kingdom, the Pound Sterling has lost 99.5% of its value since being introduced over 300 years ago.\n\n\nIn the United States, the dollar has lost 97% of its value since the end of WWI, about 100 years ago.\n\n\nThis means a steak that cost $0.30 in 1920... was $3 in 1990… and about $15 today, in the year 2020!\n", + "title": "What does it mean when the government prints money?" + }, + "FiatLosesValueOverTime": { + "answers": [ + "Every fiat currency that ever existed has lost a massive amount of value.", + "The value stays the same forever.", + "The look and design of paper bills is updated every 10 years or so." + ], + "feedback": [ + "Correct. This is true even for USD, which has lost 97% of its value during the last 100 years.", + "Incorrect. Please try again.", + "Not quite. Although the design of papers bills may change, this has nothing to do with their value." + ], + "question": "What happens to the value of all fiat money over time?", + "text": "That is correct.\n\n\nIn the history of the world, there have been 775 fiat currencies created. Most no longer exist, and the average life for any fiat money is only 27 years.\n\n\nThe British Pound is the oldest fiat currency. It has lost more than 99% of its value since 1694.\n\n\nThere is no precedent for any fiat money maintaining its value over time. This is inflation.\nIt is effectively a form of theft of your own hard earned money !\n", + "title": "What happens to the value of all fiat money over time?" + }, + "OtherIssues": { + "answers": [ + "Money is difficult to move around the world, and can also be surveilled.", + "Money is no longer needed in the 21st Century.", + "Money is the root of all evil." + ], + "feedback": [ + "Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!", + "Wrong answer. You know that is not true.", + "While some may believe this to be so, it is not the answer we are looking for here." + ], + "question": "What are some other issues that exist with fiat money?", + "text": "Yes, there are many other issues that exist with modern fiat money.\n\n\nFirst, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.\n\n\nSecond, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.\n\n\nEver notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.\n", + "title": "What are some other issues that exist with fiat money?" } } } -] +} diff --git a/chapter-103-how-does-money-work/103.01-lesson-what-is-fiat.json b/chapter-103-how-does-money-work/103.01-lesson-what-is-fiat.json index 9529cfd..df8b640 100644 --- a/chapter-103-how-does-money-work/103.01-lesson-what-is-fiat.json +++ b/chapter-103-how-does-money-work/103.01-lesson-what-is-fiat.json @@ -1,22 +1,18 @@ { "WhatIsFiat": { - "title": "Fiat Currency: What is that?", - "questions": { - "WhatIsFiat": { - "answers": [ - "They are created by order of the National government in a given country.", - "By the manager of the local branch bank.", - "The Monopoly Money Man." - ], - "feedback": [ - "Correct. The central bank of a government creates fiat currencies.", - "Not quite. While local banks can give out loans based on credit and create money by doing so, they cannot create fiat currencies. Try again.", - "Nope. Try again!" - ], - "question": "Who creates fiat currencies, such as US Dollars or Swiss Francs?", - "text": "All national currencies in circulation today are called “fiat” money. This includes US Dollars, Japanese Yen, Swiss Francs, and so forth.\n\n\nThe word “fiat” is latin for “by decree” -- which means “by official order”.\n\n\nThis means that all fiat money -- including the US Dollar -- is simply created by the order of the national government.\n", - "title": "Who creates fiat currencies, such as US Dollars or Swiss Francs?" - } - } + "screen": "WhatIsFiat", + "answers": [ + "They are created by order of the National government in a given country.", + "By the manager of the local branch bank.", + "The Monopoly Money Man." + ], + "feedback": [ + "Correct. The central bank of a government creates fiat currencies.", + "Not quite. While local banks can give out loans based on credit and create money by doing so, they cannot create fiat currencies. Try again.", + "Nope. Try again!" + ], + "question": "Who creates fiat currencies, such as US Dollars or Swiss Francs?", + "text": "All national currencies in circulation today are called “fiat” money. This includes US Dollars, Japanese Yen, Swiss Francs, and so forth.\n\n\nThe word “fiat” is latin for “by decree” -- which means “by official order”.\n\n\nThis means that all fiat money -- including the US Dollar -- is simply created by the order of the national government.\n", + "title": "Who creates fiat currencies, such as US Dollars or Swiss Francs?" } } diff --git a/chapter-103-how-does-money-work/103.02-lesson-why-care-about-fiat-money.json b/chapter-103-how-does-money-work/103.02-lesson-why-care-about-fiat-money.json index 6a35855..cb22227 100644 --- a/chapter-103-how-does-money-work/103.02-lesson-why-care-about-fiat-money.json +++ b/chapter-103-how-does-money-work/103.02-lesson-why-care-about-fiat-money.json @@ -1,22 +1,18 @@ { "whyCareAboutFiatMoney": { - "title": "I trust my government. Why should I care about fiat money?", - "questions": { - "whyCareAboutFiatMoney": { - "answers": [ - "All fiat currency is eventually abused by government authorities.", - "Local banks might not have enough vault space to hold all of the dollar bills.", - "There might not be enough trees to make paper for all of the additional dollar bills." - ], - "feedback": [ - "Correct. Throughout history, governments have been unable to resist the ability to print money, as they effectively have no obligation to repay this money.", - "Nope, that is certainly not the case.", - "Wrong. Please try again." - ], - "question": "Why should I care about the government controlling fiat money?", - "text": "As shared in a prior quiz, the US Central Bank is the Federal Reserve, or the “Fed”.\n\n\nThe Fed can print more dollars at any time -- and does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\nHaving control of money can be very tempting for authorities to abuse -- and often time leads to massive inflation, arbitrary confiscation and corruption.\n\n\nIn fact, Alan Greenspan, the famous former chairman of The Fed, famously said the US “can pay any debt that it has, because we can always print more to do that”.\n", - "title": "Why should I care about the government controlling fiat money?" - } - } + "screen": "whyCareAboutFiatMoney", + "answers": [ + "All fiat currency is eventually abused by government authorities.", + "Local banks might not have enough vault space to hold all of the dollar bills.", + "There might not be enough trees to make paper for all of the additional dollar bills." + ], + "feedback": [ + "Correct. Throughout history, governments have been unable to resist the ability to print money, as they effectively have no obligation to repay this money.", + "Nope, that is certainly not the case.", + "Wrong. Please try again." + ], + "question": "Why should I care about the government controlling fiat money?", + "text": "As shared in a prior quiz, the US Central Bank is the Federal Reserve, or the “Fed”.\n\n\nThe Fed can print more dollars at any time -- and does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\nHaving control of money can be very tempting for authorities to abuse -- and often time leads to massive inflation, arbitrary confiscation and corruption.\n\n\nIn fact, Alan Greenspan, the famous former chairman of The Fed, famously said the US “can pay any debt that it has, because we can always print more to do that”.\n", + "title": "Why should I care about the government controlling fiat money?" } } diff --git a/chapter-103-how-does-money-work/103.03-lesson-governement-can-print-money.json b/chapter-103-how-does-money-work/103.03-lesson-governement-can-print-money.json index bcfa519..bef06fe 100644 --- a/chapter-103-how-does-money-work/103.03-lesson-governement-can-print-money.json +++ b/chapter-103-how-does-money-work/103.03-lesson-governement-can-print-money.json @@ -1,22 +1,18 @@ { "GovernementCanPrintMoney": { - "title": "Who should care that the government can print unlimited money?", - "questions": { - "GovernementCanPrintMoney": { - "answers": [ - "The printing of additional money leads to inflation.", - "People must exchange old dollar bills at the bank every year.", - "The appearance of the dollar bill changes." - ], - "feedback": [ - "Correct. This means that goods and services will cost more in the future.", - "Nope. Older dollar bills are just as valid as newer ones.", - "Incorrect. Although the government may issue new looks for bills, this has nothing to do with increasing the money supply." - ], - "question": "What does it mean when the government prints money?", - "text": "Well, everybody should care!\n\n\nThe practice of government printing money -- or increasing the supply of dollars -- leads to inflation.\n\n\nInflation is an increase in the price of goods and services. In other words, the price for something in the future will be more expensive than today.\n\n\nSo what does inflation mean for citizens?\n\n\nIn the United Kingdom, the Pound Sterling has lost 99.5% of its value since being introduced over 300 years ago.\n\n\nIn the United States, the dollar has lost 97% of its value since the end of WWI, about 100 years ago.\n\n\nThis means a steak that cost $0.30 in 1920... was $3 in 1990… and about $15 today, in the year 2020!\n", - "title": "What does it mean when the government prints money?" - } - } + "screen": "GovernementCanPrintMoney", + "answers": [ + "The printing of additional money leads to inflation.", + "People must exchange old dollar bills at the bank every year.", + "The appearance of the dollar bill changes." + ], + "feedback": [ + "Correct. This means that goods and services will cost more in the future.", + "Nope. Older dollar bills are just as valid as newer ones.", + "Incorrect. Although the government may issue new looks for bills, this has nothing to do with increasing the money supply." + ], + "question": "What does it mean when the government prints money?", + "text": "Well, everybody should care!\n\n\nThe practice of government printing money -- or increasing the supply of dollars -- leads to inflation.\n\n\nInflation is an increase in the price of goods and services. In other words, the price for something in the future will be more expensive than today.\n\n\nSo what does inflation mean for citizens?\n\n\nIn the United Kingdom, the Pound Sterling has lost 99.5% of its value since being introduced over 300 years ago.\n\n\nIn the United States, the dollar has lost 97% of its value since the end of WWI, about 100 years ago.\n\n\nThis means a steak that cost $0.30 in 1920... was $3 in 1990… and about $15 today, in the year 2020!\n", + "title": "What does it mean when the government prints money?" } } diff --git a/chapter-103-how-does-money-work/103.04-lesson-fiat-loses-value-over-time.json b/chapter-103-how-does-money-work/103.04-lesson-fiat-loses-value-over-time.json index 0fdb9bb..27d0300 100644 --- a/chapter-103-how-does-money-work/103.04-lesson-fiat-loses-value-over-time.json +++ b/chapter-103-how-does-money-work/103.04-lesson-fiat-loses-value-over-time.json @@ -1,22 +1,18 @@ { "FiatLosesValueOverTime": { - "title": "Does this mean that all fiat money loses value over time?", - "questions": { - "FiatLosesValueOverTime": { - "answers": [ - "Every fiat currency that ever existed has lost a massive amount of value.", - "The value stays the same forever.", - "The look and design of paper bills is updated every 10 years or so." - ], - "feedback": [ - "Correct. This is true even for USD, which has lost 97% of its value during the last 100 years.", - "Incorrect. Please try again.", - "Not quite. Although the design of papers bills may change, this has nothing to do with their value." - ], - "question": "What happens to the value of all fiat money over time?", - "text": "That is correct.\n\n\nIn the history of the world, there have been 775 fiat currencies created. Most no longer exist, and the average life for any fiat money is only 27 years.\n\n\nThe British Pound is the oldest fiat currency. It has lost more than 99% of its value since 1694.\n\n\nThere is no precedent for any fiat money maintaining its value over time. This is inflation.\nIt is effectively a form of theft of your own hard earned money !\n", - "title": "What happens to the value of all fiat money over time?" - } - } + "screen": "FiatLosesValueOverTime", + "answers": [ + "Every fiat currency that ever existed has lost a massive amount of value.", + "The value stays the same forever.", + "The look and design of paper bills is updated every 10 years or so." + ], + "feedback": [ + "Correct. This is true even for USD, which has lost 97% of its value during the last 100 years.", + "Incorrect. Please try again.", + "Not quite. Although the design of papers bills may change, this has nothing to do with their value." + ], + "question": "What happens to the value of all fiat money over time?", + "text": "That is correct.\n\n\nIn the history of the world, there have been 775 fiat currencies created. Most no longer exist, and the average life for any fiat money is only 27 years.\n\n\nThe British Pound is the oldest fiat currency. It has lost more than 99% of its value since 1694.\n\n\nThere is no precedent for any fiat money maintaining its value over time. This is inflation.\nIt is effectively a form of theft of your own hard earned money !\n", + "title": "What happens to the value of all fiat money over time?" } } diff --git a/chapter-103-how-does-money-work/103.05-lesson-other-issues.json b/chapter-103-how-does-money-work/103.05-lesson-other-issues.json index 913830b..5d5e548 100644 --- a/chapter-103-how-does-money-work/103.05-lesson-other-issues.json +++ b/chapter-103-how-does-money-work/103.05-lesson-other-issues.json @@ -1,22 +1,18 @@ { "OtherIssues": { - "title": "OK, fiat money loses value over time. Are there other issues?", - "questions": { - "OtherIssues": { - "answers": [ - "Money is difficult to move around the world, and can also be surveilled.", - "Money is no longer needed in the 21st Century.", - "Money is the root of all evil." - ], - "feedback": [ - "Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!", - "Wrong answer. You know that is not true.", - "While some may believe this to be so, it is not the answer we are looking for here." - ], - "question": "What are some other issues that exist with fiat money?", - "text": "Yes, there are many other issues that exist with modern fiat money.\n\n\nFirst, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.\n\n\nSecond, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.\n\n\nEver notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.\n", - "title": "What are some other issues that exist with fiat money?" - } - } + "screen": "OtherIssues", + "answers": [ + "Money is difficult to move around the world, and can also be surveilled.", + "Money is no longer needed in the 21st Century.", + "Money is the root of all evil." + ], + "feedback": [ + "Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!", + "Wrong answer. You know that is not true.", + "While some may believe this to be so, it is not the answer we are looking for here." + ], + "question": "What are some other issues that exist with fiat money?", + "text": "Yes, there are many other issues that exist with modern fiat money.\n\n\nFirst, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.\n\n\nSecond, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.\n\n\nEver notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.\n", + "title": "What are some other issues that exist with fiat money?" } } diff --git a/chapter-104-bitcoin-why-is-it-special/104-combined.json b/chapter-104-bitcoin-why-is-it-special/104-combined.json index 314117e..2fb04a2 100644 --- a/chapter-104-bitcoin-why-is-it-special/104-combined.json +++ b/chapter-104-bitcoin-why-is-it-special/104-combined.json @@ -1,134 +1,97 @@ -[ - { - "LimitedSupply": { - "title": "Special Characteristic", - "questions": { - "LimitedSupply": { - "answers": [ - "Yes. There can never be more than 21 million bitcoin created.", - "No. The government can create more bitcoin at any time.", - "No, the bitcoin software can be changed to allow more bitcoins to be created." - ], - "feedback": [ - "Correct. By limiting the amount that can be created, Bitcoin is designed to increase in value over time.", - "Wrong answer. The government has no control over Bitcoin.", - "Incorrect. One of the key attributes of bitcoin is that the supply is limited forever." - ], - "question": "Is the supply of bitcoin limited forever?", - "text": "Governments can print fiat money in unlimited quantities.\n\n\nBy way of contrast, the supply of Bitcoin is fixed — and can never exceed 21 million coins.\n\n\nA continually increasing supply of fiat money creates inflation. This means that the money you hold today is less valuable in the future.\n\nOne simple example:\nA loaf of bread that cost about 8 cents in 1920. In the year 1990 one loaf cost about $1.00, and today the price is closer to $2.50 !\n\n\nThe limited supply of bitcoin has the opposite effect, one of deflation.\n\n\nThis means that the bitcoin you hold today is designed to be more valuable in the future — because it is scarce.\n", - "title": "Is the supply of bitcoin limited forever?" - } - } - } - }, - { - "Decentralized": { - "title": "Special Characteristic", - "questions": { - "Decentralized": { - "answers": [ - "No. Bitcoin is completely “decentralized”.", - "Yes. It is centrally controlled by the United Nations.", - "Yes. It is centrally controlled by the world’s largest banks." - ], - "feedback": [ - "That is correct. There is no company, government or institution that controls bitcoin. Anyone can use bitcoin — all need is a smartphone and an internet connection.", - "Wrong answer. Please try again.", - "Incorrect. You already know this is not true!" - ], - "question": "Is bitcoin centralized?", - "text": "Fiat money is controlled by banks and governments — which is why people refer to it as a “centralized” currency.\n\nBitcoin is not controlled by any person, government or company — which makes it “decentralized”\n\nNot having banks involved means that nobody can deny you access to bitcoin — because of race, gender, income, credit history, geographical location — or any other factor.\n\nAnybody — anywhere in the world — can access and use Bitcoin anytime you want. All you need is a computer or smartphone, and an internet connection. In fact, even a feature phone with no internet can utilize Bitcoin with services like Machankura!\n", - "title": "Is bitcoin centralized?" - } - } - } - }, - { - "NoCounterfeitMoney": { - "title": "Special Characteristic", - "questions": { - "NoCounterfeitMoney": { - "answers": [ - "No. It is impossible to counterfeit Bitcoin.", - "Yes. Although creating fake bitcoin requires very specialized computers.", - "Yes. The govrenment can print as much bitcoin as it likes." - ], - "feedback": [ - "counterfeit Bitcoin.", - "Incorrect. There is no way for anyone to copy or duplicate the value of a bitcoin.", - "Wrong. Although the government can print unlimited dollars, it can not print bitcoin." - ], - "question": "Can people counterfeit Bitcoin?", - "text": "Paper money, checks and credit card transactions can all be counterfeit, or faked.\n\nThe unique software that runs the Bitcoin network eliminates the possibility of duplicating money for counterfeit purposes.\n\nNew bitcoin can only be issued if there is agreement amongst the participants in the network. People who are voluntarily running bitcoin software on their own computers and smartphones.\n\nThis ensures that it is impossible to counterfeit, or create fake bitcoins.\n", - "title": "Can people counterfeit Bitcoin?" - } - } - } - }, - { - "HighlyDivisible": { - "title": "Special Characteristic", - "questions": { - "HighlyDivisible": { - "answers": [ - "0.00000001 BTC", - "One whole bitcoin. It is not possible to use anything less.", - "0.01 BTC" - ], - "feedback": [ - "Yes. You can divide a bitcoin into 100,000,000 pieces. As you already know, the smallest unit of bitcoin — B0.00000001 — is known as a “sat”.", - "Wrong. Bitcoin is highly divisible. You can easily use a very small fraction of a bitcoin.", - "Incorrect. Although the smallest unit of US currency is one penny, a bitcoin is divisible by much more than 100x." - ], - "question": "What is the smallest amount of Bitcoin one can own, or use?", - "text": "Old-fashioned fiat money can only be spent in amounts as small as one penny — or two decimal places for one US Dollar ($0.01).\n\nOn the other hand, Bitcoin can be divided 100,000,000 times over. This means that you could spend as little as ₿0.00000001. You will note the \"\"₿\"\" symbol, which is the Bitcoin equivalent of \"\"$\"\". Sometimes you will also see the use of BTC, instead of ₿.\n\nBy way of contrast, Bitcoin can handle very small payments — even those less than one US penny!\n", - "title": "What is the smallest amount of Bitcoin one can own, or use?" - } - } - } - }, - { - "securePartOne": { - "title": "Special Characteristic", - "questions": { - "securePartOne": { - "answers": [ - "Yes. The bitcoin network is very secure.", - "Maybe. It depends on the day of the week.", - "bitcoin network is safe and secure — 24 hours a day, 365 days a year." - ], - "feedback": [ - "Correct. In fact, the Bitcoin network has never once been hacked. Answer the next question to learn more!", - "Nice try, but wrong. The bitcoin network is safe and secure — 24 hours a day, 365 days a year.", - "Incorrect. Although bitcoin is indeed “open source” software — or available to the public for free — is still extremely secure." - ], - "question": "Is the Bitcoin network secure?", - "text": "The bitcoin network is worth well over $100 billion today. Accordingly, the network must be very secure — so that money is never stolen.\n\n\nBitcoin is known as the world’s first cryptocurrency.\n\n\nThe “crypto” part of the name comes from cryptography. Simply put, cryptography protects information through very complex math functions.\n\n\nMost people do not realize — but Bitcoin is actually the most secure computer network in the world !\n\n\n(you may have heard about bitcoin “hacks” — which we will debunk in the next quiz)\n", - "title": "Is the Bitcoin network secure?" - } - } - } - }, - { - "securePartTwo": { - "title": "Special Characteristic", - "questions": { - "securePartTwo": { - "answers": [ - "No. Bitcoin has never been hacked.", - "Yes. Bitcoin gets hacked frequently.", - "Yes. Bitcoin usually gets hacked on holidays, when traditional banks are closed." - ], - "feedback": [ - "That is correct. The bitcoin network has never been compromised. However, it is important to make you use secure digital wallet (such as Galoy!) to keep your personal bitcoins safe at all times.", - "Wrong. Please try again.", - "No silly, you know that is not the correct answer." - ], - "question": "Has Bitcoin ever been hacked?", - "text": "To be direct: the bitcoin network itself has never been hacked. Never once.\n\n\n Then what exactly has been hacked?\n\n\n Certain digital wallets that did not have proper security in place.\n\n\n Just like a physical wallet holds fiat currency (in the form of paper bills), digital wallets hold some amount of bitcoin.\n\n\n In the physical world, criminals rob banks — and walk away with US Dollars. The fact that someone robbed a bank does not have any relationship as to whether the US Dollar is stable or reliable money.\n\n\n Similarly, some computer hackers have stolen bitcoin from insecure digital wallets — the online equivalent of a bank robbery.\n\n\n However, it is important to know that the bitcoin network has never been hacked or compromised !\n", - "title": "Has Bitcoin ever been hacked?" - } +{ + "BitcoinWhyisitspecial": { + "title": "Bitcoin: Why is it special?", + "questions": { + "LimitedSupply": { + "answers": [ + "Yes. There can never be more than 21 million bitcoin created.", + "No. The government can create more bitcoin at any time.", + "No, the bitcoin software can be changed to allow more bitcoins to be created." + ], + "feedback": [ + "Correct. By limiting the amount that can be created, Bitcoin is designed to increase in value over time.", + "Wrong answer. The government has no control over Bitcoin.", + "Incorrect. One of the key attributes of bitcoin is that the supply is limited forever." + ], + "question": "Is the supply of bitcoin limited forever?", + "text": "Governments can print fiat money in unlimited quantities.\n\n\nBy way of contrast, the supply of Bitcoin is fixed — and can never exceed 21 million coins.\n\n\nA continually increasing supply of fiat money creates inflation. This means that the money you hold today is less valuable in the future.\n\nOne simple example:\nA loaf of bread that cost about 8 cents in 1920. In the year 1990 one loaf cost about $1.00, and today the price is closer to $2.50 !\n\n\nThe limited supply of bitcoin has the opposite effect, one of deflation.\n\n\nThis means that the bitcoin you hold today is designed to be more valuable in the future — because it is scarce.\n", + "title": "Is the supply of bitcoin limited forever?" + }, + "Decentralized": { + "answers": [ + "No. Bitcoin is completely “decentralized”.", + "Yes. It is centrally controlled by the United Nations.", + "Yes. It is centrally controlled by the world’s largest banks." + ], + "feedback": [ + "That is correct. There is no company, government or institution that controls bitcoin. Anyone can use bitcoin — all need is a smartphone and an internet connection.", + "Wrong answer. Please try again.", + "Incorrect. You already know this is not true!" + ], + "question": "Is bitcoin centralized?", + "text": "Fiat money is controlled by banks and governments — which is why people refer to it as a “centralized” currency.\n\nBitcoin is not controlled by any person, government or company — which makes it “decentralized”\n\nNot having banks involved means that nobody can deny you access to bitcoin — because of race, gender, income, credit history, geographical location — or any other factor.\n\nAnybody — anywhere in the world — can access and use Bitcoin anytime you want. All you need is a computer or smartphone, and an internet connection. In fact, even a feature phone with no internet can utilize Bitcoin with services like Machankura!\n", + "title": "Is bitcoin centralized?" + }, + "NoCounterfeitMoney": { + "answers": [ + "No. It is impossible to counterfeit Bitcoin.", + "Yes. Although creating fake bitcoin requires very specialized computers.", + "Yes. The govrenment can print as much bitcoin as it likes." + ], + "feedback": [ + "counterfeit Bitcoin.", + "Incorrect. There is no way for anyone to copy or duplicate the value of a bitcoin.", + "Wrong. Although the government can print unlimited dollars, it can not print bitcoin." + ], + "question": "Can people counterfeit Bitcoin?", + "text": "Paper money, checks and credit card transactions can all be counterfeit, or faked.\n\nThe unique software that runs the Bitcoin network eliminates the possibility of duplicating money for counterfeit purposes.\n\nNew bitcoin can only be issued if there is agreement amongst the participants in the network. People who are voluntarily running bitcoin software on their own computers and smartphones.\n\nThis ensures that it is impossible to counterfeit, or create fake bitcoins.\n", + "title": "Can people counterfeit Bitcoin?" + }, + "HighlyDivisible": { + "answers": [ + "0.00000001 BTC", + "One whole bitcoin. It is not possible to use anything less.", + "0.01 BTC" + ], + "feedback": [ + "Yes. You can divide a bitcoin into 100,000,000 pieces. As you already know, the smallest unit of bitcoin — B0.00000001 — is known as a “sat”.", + "Wrong. Bitcoin is highly divisible. You can easily use a very small fraction of a bitcoin.", + "Incorrect. Although the smallest unit of US currency is one penny, a bitcoin is divisible by much more than 100x." + ], + "question": "What is the smallest amount of Bitcoin one can own, or use?", + "text": "Old-fashioned fiat money can only be spent in amounts as small as one penny — or two decimal places for one US Dollar ($0.01).\n\nOn the other hand, Bitcoin can be divided 100,000,000 times over. This means that you could spend as little as ₿0.00000001. You will note the \"\"₿\"\" symbol, which is the Bitcoin equivalent of \"\"$\"\". Sometimes you will also see the use of BTC, instead of ₿.\n\nBy way of contrast, Bitcoin can handle very small payments — even those less than one US penny!\n", + "title": "What is the smallest amount of Bitcoin one can own, or use?" + }, + "securePartOne": { + "answers": [ + "Yes. The bitcoin network is very secure.", + "Maybe. It depends on the day of the week.", + "bitcoin network is safe and secure — 24 hours a day, 365 days a year." + ], + "feedback": [ + "Correct. In fact, the Bitcoin network has never once been hacked. Answer the next question to learn more!", + "Nice try, but wrong. The bitcoin network is safe and secure — 24 hours a day, 365 days a year.", + "Incorrect. Although bitcoin is indeed “open source” software — or available to the public for free — is still extremely secure." + ], + "question": "Is the Bitcoin network secure?", + "text": "The bitcoin network is worth well over $100 billion today. Accordingly, the network must be very secure — so that money is never stolen.\n\n\nBitcoin is known as the world’s first cryptocurrency.\n\n\nThe “crypto” part of the name comes from cryptography. Simply put, cryptography protects information through very complex math functions.\n\n\nMost people do not realize — but Bitcoin is actually the most secure computer network in the world !\n\n\n(you may have heard about bitcoin “hacks” — which we will debunk in the next quiz)\n", + "title": "Is the Bitcoin network secure?" + }, + "securePartTwo": { + "answers": [ + "No. Bitcoin has never been hacked.", + "Yes. Bitcoin gets hacked frequently.", + "Yes. Bitcoin usually gets hacked on holidays, when traditional banks are closed." + ], + "feedback": [ + "That is correct. The bitcoin network has never been compromised. However, it is important to make you use secure digital wallet (such as Galoy!) to keep your personal bitcoins safe at all times.", + "Wrong. Please try again.", + "No silly, you know that is not the correct answer." + ], + "question": "Has Bitcoin ever been hacked?", + "text": "To be direct: the bitcoin network itself has never been hacked. Never once.\n\n\n Then what exactly has been hacked?\n\n\n Certain digital wallets that did not have proper security in place.\n\n\n Just like a physical wallet holds fiat currency (in the form of paper bills), digital wallets hold some amount of bitcoin.\n\n\n In the physical world, criminals rob banks — and walk away with US Dollars. The fact that someone robbed a bank does not have any relationship as to whether the US Dollar is stable or reliable money.\n\n\n Similarly, some computer hackers have stolen bitcoin from insecure digital wallets — the online equivalent of a bank robbery.\n\n\n However, it is important to know that the bitcoin network has never been hacked or compromised !\n", + "title": "Has Bitcoin ever been hacked?" } } } -] +} diff --git a/chapter-104-bitcoin-why-is-it-special/104.01-lesson-limited-supply.json b/chapter-104-bitcoin-why-is-it-special/104.01-lesson-limited-supply.json index 61d165c..49d328a 100644 --- a/chapter-104-bitcoin-why-is-it-special/104.01-lesson-limited-supply.json +++ b/chapter-104-bitcoin-why-is-it-special/104.01-lesson-limited-supply.json @@ -1,22 +1,18 @@ { "LimitedSupply": { - "title": "Special Characteristic", - "questions": { - "LimitedSupply": { - "answers": [ - "Yes. There can never be more than 21 million bitcoin created.", - "No. The government can create more bitcoin at any time.", - "No, the bitcoin software can be changed to allow more bitcoins to be created." - ], - "feedback": [ - "Correct. By limiting the amount that can be created, Bitcoin is designed to increase in value over time.", - "Wrong answer. The government has no control over Bitcoin.", - "Incorrect. One of the key attributes of bitcoin is that the supply is limited forever." - ], - "question": "Is the supply of bitcoin limited forever?", - "text": "Governments can print fiat money in unlimited quantities.\n\n\nBy way of contrast, the supply of Bitcoin is fixed — and can never exceed 21 million coins.\n\n\nA continually increasing supply of fiat money creates inflation. This means that the money you hold today is less valuable in the future.\n\nOne simple example:\nA loaf of bread that cost about 8 cents in 1920. In the year 1990 one loaf cost about $1.00, and today the price is closer to $2.50 !\n\n\nThe limited supply of bitcoin has the opposite effect, one of deflation.\n\n\nThis means that the bitcoin you hold today is designed to be more valuable in the future — because it is scarce.\n", - "title": "Is the supply of bitcoin limited forever?" - } - } + "screen": "LimitedSupply", + "answers": [ + "Yes. There can never be more than 21 million bitcoin created.", + "No. The government can create more bitcoin at any time.", + "No, the bitcoin software can be changed to allow more bitcoins to be created." + ], + "feedback": [ + "Correct. By limiting the amount that can be created, Bitcoin is designed to increase in value over time.", + "Wrong answer. The government has no control over Bitcoin.", + "Incorrect. One of the key attributes of bitcoin is that the supply is limited forever." + ], + "question": "Is the supply of bitcoin limited forever?", + "text": "Governments can print fiat money in unlimited quantities.\n\n\nBy way of contrast, the supply of Bitcoin is fixed — and can never exceed 21 million coins.\n\n\nA continually increasing supply of fiat money creates inflation. This means that the money you hold today is less valuable in the future.\n\nOne simple example:\nA loaf of bread that cost about 8 cents in 1920. In the year 1990 one loaf cost about $1.00, and today the price is closer to $2.50 !\n\n\nThe limited supply of bitcoin has the opposite effect, one of deflation.\n\n\nThis means that the bitcoin you hold today is designed to be more valuable in the future — because it is scarce.\n", + "title": "Is the supply of bitcoin limited forever?" } } diff --git a/chapter-104-bitcoin-why-is-it-special/104.02-lesson-decentralized.json b/chapter-104-bitcoin-why-is-it-special/104.02-lesson-decentralized.json index 45842cc..1cc1075 100644 --- a/chapter-104-bitcoin-why-is-it-special/104.02-lesson-decentralized.json +++ b/chapter-104-bitcoin-why-is-it-special/104.02-lesson-decentralized.json @@ -1,22 +1,18 @@ { "Decentralized": { - "title": "Special Characteristic", - "questions": { - "Decentralized": { - "answers": [ - "No. Bitcoin is completely “decentralized”.", - "Yes. It is centrally controlled by the United Nations.", - "Yes. It is centrally controlled by the world’s largest banks." - ], - "feedback": [ - "That is correct. There is no company, government or institution that controls bitcoin. Anyone can use bitcoin — all need is a smartphone and an internet connection.", - "Wrong answer. Please try again.", - "Incorrect. You already know this is not true!" - ], - "question": "Is bitcoin centralized?", - "text": "Fiat money is controlled by banks and governments — which is why people refer to it as a “centralized” currency.\n\nBitcoin is not controlled by any person, government or company — which makes it “decentralized”\n\nNot having banks involved means that nobody can deny you access to bitcoin — because of race, gender, income, credit history, geographical location — or any other factor.\n\nAnybody — anywhere in the world — can access and use Bitcoin anytime you want. All you need is a computer or smartphone, and an internet connection. In fact, even a feature phone with no internet can utilize Bitcoin with services like Machankura!\n", - "title": "Is bitcoin centralized?" - } - } + "screen": "Decentralized", + "answers": [ + "No. Bitcoin is completely “decentralized”.", + "Yes. It is centrally controlled by the United Nations.", + "Yes. It is centrally controlled by the world’s largest banks." + ], + "feedback": [ + "That is correct. There is no company, government or institution that controls bitcoin. Anyone can use bitcoin — all need is a smartphone and an internet connection.", + "Wrong answer. Please try again.", + "Incorrect. You already know this is not true!" + ], + "question": "Is bitcoin centralized?", + "text": "Fiat money is controlled by banks and governments — which is why people refer to it as a “centralized” currency.\n\nBitcoin is not controlled by any person, government or company — which makes it “decentralized”\n\nNot having banks involved means that nobody can deny you access to bitcoin — because of race, gender, income, credit history, geographical location — or any other factor.\n\nAnybody — anywhere in the world — can access and use Bitcoin anytime you want. All you need is a computer or smartphone, and an internet connection. In fact, even a feature phone with no internet can utilize Bitcoin with services like Machankura!\n", + "title": "Is bitcoin centralized?" } } diff --git a/chapter-104-bitcoin-why-is-it-special/104.03-lesson-no-counterfeit-money.json b/chapter-104-bitcoin-why-is-it-special/104.03-lesson-no-counterfeit-money.json index c30e984..b500813 100644 --- a/chapter-104-bitcoin-why-is-it-special/104.03-lesson-no-counterfeit-money.json +++ b/chapter-104-bitcoin-why-is-it-special/104.03-lesson-no-counterfeit-money.json @@ -1,22 +1,18 @@ { "NoCounterfeitMoney": { - "title": "Special Characteristic", - "questions": { - "NoCounterfeitMoney": { - "answers": [ - "No. It is impossible to counterfeit Bitcoin.", - "Yes. Although creating fake bitcoin requires very specialized computers.", - "Yes. The govrenment can print as much bitcoin as it likes." - ], - "feedback": [ - "counterfeit Bitcoin.", - "Incorrect. There is no way for anyone to copy or duplicate the value of a bitcoin.", - "Wrong. Although the government can print unlimited dollars, it can not print bitcoin." - ], - "question": "Can people counterfeit Bitcoin?", - "text": "Paper money, checks and credit card transactions can all be counterfeit, or faked.\n\nThe unique software that runs the Bitcoin network eliminates the possibility of duplicating money for counterfeit purposes.\n\nNew bitcoin can only be issued if there is agreement amongst the participants in the network. People who are voluntarily running bitcoin software on their own computers and smartphones.\n\nThis ensures that it is impossible to counterfeit, or create fake bitcoins.\n", - "title": "Can people counterfeit Bitcoin?" - } - } + "screen": "NoCounterfeitMoney", + "answers": [ + "No. It is impossible to counterfeit Bitcoin.", + "Yes. Although creating fake bitcoin requires very specialized computers.", + "Yes. The govrenment can print as much bitcoin as it likes." + ], + "feedback": [ + "counterfeit Bitcoin.", + "Incorrect. There is no way for anyone to copy or duplicate the value of a bitcoin.", + "Wrong. Although the government can print unlimited dollars, it can not print bitcoin." + ], + "question": "Can people counterfeit Bitcoin?", + "text": "Paper money, checks and credit card transactions can all be counterfeit, or faked.\n\nThe unique software that runs the Bitcoin network eliminates the possibility of duplicating money for counterfeit purposes.\n\nNew bitcoin can only be issued if there is agreement amongst the participants in the network. People who are voluntarily running bitcoin software on their own computers and smartphones.\n\nThis ensures that it is impossible to counterfeit, or create fake bitcoins.\n", + "title": "Can people counterfeit Bitcoin?" } } diff --git a/chapter-104-bitcoin-why-is-it-special/104.04-lesson-highly-divisible.json b/chapter-104-bitcoin-why-is-it-special/104.04-lesson-highly-divisible.json index 920cd23..beab4a3 100644 --- a/chapter-104-bitcoin-why-is-it-special/104.04-lesson-highly-divisible.json +++ b/chapter-104-bitcoin-why-is-it-special/104.04-lesson-highly-divisible.json @@ -1,22 +1,18 @@ { "HighlyDivisible": { - "title": "Special Characteristic", - "questions": { - "HighlyDivisible": { - "answers": [ - "0.00000001 BTC", - "One whole bitcoin. It is not possible to use anything less.", - "0.01 BTC" - ], - "feedback": [ - "Yes. You can divide a bitcoin into 100,000,000 pieces. As you already know, the smallest unit of bitcoin — B0.00000001 — is known as a “sat”.", - "Wrong. Bitcoin is highly divisible. You can easily use a very small fraction of a bitcoin.", - "Incorrect. Although the smallest unit of US currency is one penny, a bitcoin is divisible by much more than 100x." - ], - "question": "What is the smallest amount of Bitcoin one can own, or use?", - "text": "Old-fashioned fiat money can only be spent in amounts as small as one penny — or two decimal places for one US Dollar ($0.01).\n\nOn the other hand, Bitcoin can be divided 100,000,000 times over. This means that you could spend as little as ₿0.00000001. You will note the \"\"₿\"\" symbol, which is the Bitcoin equivalent of \"\"$\"\". Sometimes you will also see the use of BTC, instead of ₿.\n\nBy way of contrast, Bitcoin can handle very small payments — even those less than one US penny!\n", - "title": "What is the smallest amount of Bitcoin one can own, or use?" - } - } + "screen": "HighlyDivisible", + "answers": [ + "0.00000001 BTC", + "One whole bitcoin. It is not possible to use anything less.", + "0.01 BTC" + ], + "feedback": [ + "Yes. You can divide a bitcoin into 100,000,000 pieces. As you already know, the smallest unit of bitcoin — B0.00000001 — is known as a “sat”.", + "Wrong. Bitcoin is highly divisible. You can easily use a very small fraction of a bitcoin.", + "Incorrect. Although the smallest unit of US currency is one penny, a bitcoin is divisible by much more than 100x." + ], + "question": "What is the smallest amount of Bitcoin one can own, or use?", + "text": "Old-fashioned fiat money can only be spent in amounts as small as one penny — or two decimal places for one US Dollar ($0.01).\n\nOn the other hand, Bitcoin can be divided 100,000,000 times over. This means that you could spend as little as ₿0.00000001. You will note the \"\"₿\"\" symbol, which is the Bitcoin equivalent of \"\"$\"\". Sometimes you will also see the use of BTC, instead of ₿.\n\nBy way of contrast, Bitcoin can handle very small payments — even those less than one US penny!\n", + "title": "What is the smallest amount of Bitcoin one can own, or use?" } } diff --git a/chapter-104-bitcoin-why-is-it-special/104.05-lesson-secure-part-one.json b/chapter-104-bitcoin-why-is-it-special/104.05-lesson-secure-part-one.json index a8b0920..32db5fb 100644 --- a/chapter-104-bitcoin-why-is-it-special/104.05-lesson-secure-part-one.json +++ b/chapter-104-bitcoin-why-is-it-special/104.05-lesson-secure-part-one.json @@ -1,22 +1,18 @@ { "securePartOne": { - "title": "Special Characteristic", - "questions": { - "securePartOne": { - "answers": [ - "Yes. The bitcoin network is very secure.", - "Maybe. It depends on the day of the week.", - "bitcoin network is safe and secure — 24 hours a day, 365 days a year." - ], - "feedback": [ - "Correct. In fact, the Bitcoin network has never once been hacked. Answer the next question to learn more!", - "Nice try, but wrong. The bitcoin network is safe and secure — 24 hours a day, 365 days a year.", - "Incorrect. Although bitcoin is indeed “open source” software — or available to the public for free — is still extremely secure." - ], - "question": "Is the Bitcoin network secure?", - "text": "The bitcoin network is worth well over $100 billion today. Accordingly, the network must be very secure — so that money is never stolen.\n\n\nBitcoin is known as the world’s first cryptocurrency.\n\n\nThe “crypto” part of the name comes from cryptography. Simply put, cryptography protects information through very complex math functions.\n\n\nMost people do not realize — but Bitcoin is actually the most secure computer network in the world !\n\n\n(you may have heard about bitcoin “hacks” — which we will debunk in the next quiz)\n", - "title": "Is the Bitcoin network secure?" - } - } + "screen": "securePartOne", + "answers": [ + "Yes. The bitcoin network is very secure.", + "Maybe. It depends on the day of the week.", + "bitcoin network is safe and secure — 24 hours a day, 365 days a year." + ], + "feedback": [ + "Correct. In fact, the Bitcoin network has never once been hacked. Answer the next question to learn more!", + "Nice try, but wrong. The bitcoin network is safe and secure — 24 hours a day, 365 days a year.", + "Incorrect. Although bitcoin is indeed “open source” software — or available to the public for free — is still extremely secure." + ], + "question": "Is the Bitcoin network secure?", + "text": "The bitcoin network is worth well over $100 billion today. Accordingly, the network must be very secure — so that money is never stolen.\n\n\nBitcoin is known as the world’s first cryptocurrency.\n\n\nThe “crypto” part of the name comes from cryptography. Simply put, cryptography protects information through very complex math functions.\n\n\nMost people do not realize — but Bitcoin is actually the most secure computer network in the world !\n\n\n(you may have heard about bitcoin “hacks” — which we will debunk in the next quiz)\n", + "title": "Is the Bitcoin network secure?" } } diff --git a/chapter-104-bitcoin-why-is-it-special/104.06-lesson-secure-part-two.json b/chapter-104-bitcoin-why-is-it-special/104.06-lesson-secure-part-two.json index 0173416..0bd95c8 100644 --- a/chapter-104-bitcoin-why-is-it-special/104.06-lesson-secure-part-two.json +++ b/chapter-104-bitcoin-why-is-it-special/104.06-lesson-secure-part-two.json @@ -1,22 +1,18 @@ { "securePartTwo": { - "title": "Special Characteristic", - "questions": { - "securePartTwo": { - "answers": [ - "No. Bitcoin has never been hacked.", - "Yes. Bitcoin gets hacked frequently.", - "Yes. Bitcoin usually gets hacked on holidays, when traditional banks are closed." - ], - "feedback": [ - "That is correct. The bitcoin network has never been compromised. However, it is important to make you use secure digital wallet (such as Galoy!) to keep your personal bitcoins safe at all times.", - "Wrong. Please try again.", - "No silly, you know that is not the correct answer." - ], - "question": "Has Bitcoin ever been hacked?", - "text": "To be direct: the bitcoin network itself has never been hacked. Never once.\n\n\n Then what exactly has been hacked?\n\n\n Certain digital wallets that did not have proper security in place.\n\n\n Just like a physical wallet holds fiat currency (in the form of paper bills), digital wallets hold some amount of bitcoin.\n\n\n In the physical world, criminals rob banks — and walk away with US Dollars. The fact that someone robbed a bank does not have any relationship as to whether the US Dollar is stable or reliable money.\n\n\n Similarly, some computer hackers have stolen bitcoin from insecure digital wallets — the online equivalent of a bank robbery.\n\n\n However, it is important to know that the bitcoin network has never been hacked or compromised !\n", - "title": "Has Bitcoin ever been hacked?" - } - } + "screen": "securePartTwo", + "answers": [ + "No. Bitcoin has never been hacked.", + "Yes. Bitcoin gets hacked frequently.", + "Yes. Bitcoin usually gets hacked on holidays, when traditional banks are closed." + ], + "feedback": [ + "That is correct. The bitcoin network has never been compromised. However, it is important to make you use secure digital wallet (such as Galoy!) to keep your personal bitcoins safe at all times.", + "Wrong. Please try again.", + "No silly, you know that is not the correct answer." + ], + "question": "Has Bitcoin ever been hacked?", + "text": "To be direct: the bitcoin network itself has never been hacked. Never once.\n\n\n Then what exactly has been hacked?\n\n\n Certain digital wallets that did not have proper security in place.\n\n\n Just like a physical wallet holds fiat currency (in the form of paper bills), digital wallets hold some amount of bitcoin.\n\n\n In the physical world, criminals rob banks — and walk away with US Dollars. The fact that someone robbed a bank does not have any relationship as to whether the US Dollar is stable or reliable money.\n\n\n Similarly, some computer hackers have stolen bitcoin from insecure digital wallets — the online equivalent of a bank robbery.\n\n\n However, it is important to know that the bitcoin network has never been hacked or compromised !\n", + "title": "Has Bitcoin ever been hacked?" } } diff --git a/chapter-201-the-origins-of-money/201-combined.json b/chapter-201-the-origins-of-money/201-combined.json index a1f3237..5b393b4 100644 --- a/chapter-201-the-origins-of-money/201-combined.json +++ b/chapter-201-the-origins-of-money/201-combined.json @@ -1,112 +1,82 @@ -[ - { - "originsOfMoney": { - "title": "The origins of money", - "questions": { - "originsOfMoney": { - "answers": [ - "To store and transfer wealth", - "To serve as a form of entertainment", - "To act as a status symbol" - ], - "feedback": [ - "Congratulations! You hit the nail on the head. Collectibles have long been used as a medium for storing and transferring wealth, much like how Bitcoin is used today as a decentralized digital currency", - "Sorry, but collectibles aren't just for show - they have a deeper purpose", - "While collectibles may serve as a status symbol for some, there's more to it than just showing off." - ], - "question": "What is the primary and ultimate evolutionary function of collectibles", - "text": "The earliest human societies engaged in trade through barter, but this method had several limitations. One issue was the \"double coincidence of wants\" problem, where two people needed to desire the same item at the same time in order to complete a trade.\n\nTo overcome this issue, humans began to collect and value certain items for their rarity and symbolic significance, such as shells, animal teeth, and flint.\n\nThese collectibles served as a way for early humans to store and transfer wealth, providing an evolutionary advantage over other species such as Homo neanderthalensis.\n", - "title": "What is the primary and ultimate evolutionary function of collectibles" - } - } - } - }, - { - "primitiveMoney": { - "title": "Primitive forms of money", - "questions": { - "primitiveMoney": { - "answers": [ - "To store value", - "To serve as a form of entertainment", - "To act as a medium of exchange" - ], - "feedback": [ - "Congratulations! You're right on the money (pun intended). Collectibles served as a store of value in paleolithic societies, much like how Bitcoin and other cryptocurrencies are used today as a digital store of value", - "Sorry, collectibles might be fun to collect, but they had a more practical purpose in ancient societies", - "Collectibles were not used as frequently as modern currency, so they didn't quite play the same role as a medium of exchange." - ], - "question": "What was the primary role of collectibles in paleolithic societies", - "text": "Collectibles served as a precursor to money by allowing trade between different groups and facilitating the transfer of wealth between generations. Although they were not used as frequently as modern money in paleolithic societies, collectibles still served as a store of value and could sometimes even facilitate trade.\n\nPrimitive forms of money, such as collectibles, had a low velocity compared to modern currency and might only be transferred a few times during an individual's lifetime. However, durable collectibles that were passed down through generations had substantial value at each transfer and sometimes made trade possible.\n", - "title": "What was the primary role of collectibles in paleolithic societies" - } - } - } - }, - { - "anticipatingDemand": { - "title": "Anticipating Demand", - "questions": { - "anticipatingDemand": { - "answers": [ - "The ability to buy collectibles at a lower price before they became widely sought after", - "The ability to trade collectibles for other useful items", - "The ability to impress others with their collection of rare and valuable items" - ], - "feedback": [ - "Congratulations, you are correct! It seems that the concept of \"buy low, sell high\" is not a modern invention, as early humans also sought to acquire collectibles at a lower cost before their demand and trade value increased. Fun fact: this principle also applies to bitcoin, where early adopters were able to acquire bitcoins at a much lower price before their value skyrocketed", - "Sorry, that is not the correct answer. While being able to trade collectibles for other useful items may have been a benefit of correctly anticipating demand, it was not the main advantage", - "I'm afraid that is not the correct answer. While having a collection of rare and valuable items may have been a source of pride and admiration, it was not the main advantage" - ], - "question": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies", - "text": "The choice of which items to collect or create posed a significant problem for early humans, as they had to anticipate which objects would be desired by others. The ability to correctly predict which items would be in demand for their collectible value gave a significant advantage to the owner in terms of their ability to trade and accumulate wealth.\n\nSome Native American tribes, such as the Narragansetts, even focused on producing collectibles that had little practical use, but were valuable in trade.\n\nThe earlier a collectible is anticipated to be in future demand, the greater the advantage its possessor has, as it can be obtained at a lower cost before it becomes widely sought after and its trade value increases as the number of people demanding it grows.\n", - "title": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies" - } - } - } - }, - { - "nashEquilibrium": { - "title": "The Key to Facilitating Trade", - "questions": { - "nashEquilibrium": { - "answers": [ - "A concept that helps societies decide on a single store of value", - "A type of dance that promotes trade and the division of labor", - "A musical instrument that makes it easier to conduct trade and specialize in different tasks" - ], - "feedback": [ - "Congratulations, you are correct! A Nash Equilibrium is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy. In the context of choosing a store of value, achieving a Nash Equilibrium means that society has converged on a single store of value, which greatly facilitates trade and the division of labor. Fun fact: Bitcoin is often cited as an example of a Nash Equilibrium, as it has become the dominant cryptocurrency due to its perceived value and widespread adoption", - "Sorry, that is not the correct answer. While a Nash Equilibrium has nothing to do with dance, it is an important concept in game theory that can benefit society", - "I'm afraid that is not the correct answer. While music can bring people together and facilitate cooperation, a Nash Equilibrium has nothing to do with musical instruments. It is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy." - ], - "question": "What is a Nash Equilibrium and how does it benefit society", - "text": "Acquiring an item with the expectation that it will be desired as a future store of value can accelerate its adoption for that purpose. This process can create a feedback loop that drives societies towards adopting a single store of value.\n\nIn game theory, this is known as a \"Nash Equilibrium\". Reaching a Nash Equilibrium for a store of value can greatly benefit a society, as it makes trade and the division of labor easier and paves the way for the development of civilization.\n", - "title": "What is a Nash Equilibrium and how does it benefit society" - } - } - } - }, - { - "singleStoreOfValue": { - "title": "The Benefits of Converging on a Single Store of Value", - "questions": { - "singleStoreOfValue": { - "answers": [ - "To increase the purchasing power of their savings", - "To learn about other cultures and societies", - "To show off their wealth and status" - ], - "feedback": [ - "Correct! Merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society because it increased the purchasing power of their savings. This not only benefited the merchants, but also the society as a whole, as the adoption of a single store of value reduced the cost of completing trade with other societies and increased trade-based wealth. Fun fact: Bitcoin is an example of a store of value that has been adopted by many societies, and its widespread adoption has increased its purchasing power and facilitated trade", - "Sorry, that is not the correct answer. While learning about other cultures and societies may have been a side benefit of promoting the adoption of a foreign store of value, it was not the main reason", - "I'm afraid that is not the correct answer. While showing off wealth and status may have been a motivation for some individuals, it was not the main reason for why merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society." - ], - "question": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society", - "text": "As human societies and trade routes developed over time, stores of value that emerged in different societies began to compete with each other. Merchants and traders had to decide whether to save their profits in the store of value of their own society or in the store of value of the society they were trading with, or a combination of both.\n\nHolding savings in a foreign store of value gave merchants the ability to complete trade more easily in that society, and also gave them an incentive to promote the adoption of that store of value in their own society, as it would increase the purchasing power of their savings.\n\nWhen two societies adopt the same store of value, they see a significant reduction in the cost of trading with each other and an increase in trade-based wealth. In the 19th century, most of the world converged on a single store of value – gold – and this period saw the greatest increase in trade in history.\n", - "title": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society" - } +{ + "TheOriginsofMoney": { + "title": "The Origins of Money", + "questions": { + "originsOfMoney": { + "answers": [ + "To store and transfer wealth", + "To serve as a form of entertainment", + "To act as a status symbol" + ], + "feedback": [ + "Congratulations! You hit the nail on the head. Collectibles have long been used as a medium for storing and transferring wealth, much like how Bitcoin is used today as a decentralized digital currency", + "Sorry, but collectibles aren't just for show - they have a deeper purpose", + "While collectibles may serve as a status symbol for some, there's more to it than just showing off." + ], + "question": "What is the primary and ultimate evolutionary function of collectibles", + "text": "The earliest human societies engaged in trade through barter, but this method had several limitations. One issue was the \"double coincidence of wants\" problem, where two people needed to desire the same item at the same time in order to complete a trade.\n\nTo overcome this issue, humans began to collect and value certain items for their rarity and symbolic significance, such as shells, animal teeth, and flint.\n\nThese collectibles served as a way for early humans to store and transfer wealth, providing an evolutionary advantage over other species such as Homo neanderthalensis.\n", + "title": "What is the primary and ultimate evolutionary function of collectibles" + }, + "primitiveMoney": { + "answers": [ + "To store value", + "To serve as a form of entertainment", + "To act as a medium of exchange" + ], + "feedback": [ + "Congratulations! You're right on the money (pun intended). Collectibles served as a store of value in paleolithic societies, much like how Bitcoin and other cryptocurrencies are used today as a digital store of value", + "Sorry, collectibles might be fun to collect, but they had a more practical purpose in ancient societies", + "Collectibles were not used as frequently as modern currency, so they didn't quite play the same role as a medium of exchange." + ], + "question": "What was the primary role of collectibles in paleolithic societies", + "text": "Collectibles served as a precursor to money by allowing trade between different groups and facilitating the transfer of wealth between generations. Although they were not used as frequently as modern money in paleolithic societies, collectibles still served as a store of value and could sometimes even facilitate trade.\n\nPrimitive forms of money, such as collectibles, had a low velocity compared to modern currency and might only be transferred a few times during an individual's lifetime. However, durable collectibles that were passed down through generations had substantial value at each transfer and sometimes made trade possible.\n", + "title": "What was the primary role of collectibles in paleolithic societies" + }, + "anticipatingDemand": { + "answers": [ + "The ability to buy collectibles at a lower price before they became widely sought after", + "The ability to trade collectibles for other useful items", + "The ability to impress others with their collection of rare and valuable items" + ], + "feedback": [ + "Congratulations, you are correct! It seems that the concept of \"buy low, sell high\" is not a modern invention, as early humans also sought to acquire collectibles at a lower cost before their demand and trade value increased. Fun fact: this principle also applies to bitcoin, where early adopters were able to acquire bitcoins at a much lower price before their value skyrocketed", + "Sorry, that is not the correct answer. While being able to trade collectibles for other useful items may have been a benefit of correctly anticipating demand, it was not the main advantage", + "I'm afraid that is not the correct answer. While having a collection of rare and valuable items may have been a source of pride and admiration, it was not the main advantage" + ], + "question": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies", + "text": "The choice of which items to collect or create posed a significant problem for early humans, as they had to anticipate which objects would be desired by others. The ability to correctly predict which items would be in demand for their collectible value gave a significant advantage to the owner in terms of their ability to trade and accumulate wealth.\n\nSome Native American tribes, such as the Narragansetts, even focused on producing collectibles that had little practical use, but were valuable in trade.\n\nThe earlier a collectible is anticipated to be in future demand, the greater the advantage its possessor has, as it can be obtained at a lower cost before it becomes widely sought after and its trade value increases as the number of people demanding it grows.\n", + "title": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies" + }, + "nashEquilibrium": { + "answers": [ + "A concept that helps societies decide on a single store of value", + "A type of dance that promotes trade and the division of labor", + "A musical instrument that makes it easier to conduct trade and specialize in different tasks" + ], + "feedback": [ + "Congratulations, you are correct! A Nash Equilibrium is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy. In the context of choosing a store of value, achieving a Nash Equilibrium means that society has converged on a single store of value, which greatly facilitates trade and the division of labor. Fun fact: Bitcoin is often cited as an example of a Nash Equilibrium, as it has become the dominant cryptocurrency due to its perceived value and widespread adoption", + "Sorry, that is not the correct answer. While a Nash Equilibrium has nothing to do with dance, it is an important concept in game theory that can benefit society", + "I'm afraid that is not the correct answer. While music can bring people together and facilitate cooperation, a Nash Equilibrium has nothing to do with musical instruments. It is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy." + ], + "question": "What is a Nash Equilibrium and how does it benefit society", + "text": "Acquiring an item with the expectation that it will be desired as a future store of value can accelerate its adoption for that purpose. This process can create a feedback loop that drives societies towards adopting a single store of value.\n\nIn game theory, this is known as a \"Nash Equilibrium\". Reaching a Nash Equilibrium for a store of value can greatly benefit a society, as it makes trade and the division of labor easier and paves the way for the development of civilization.\n", + "title": "What is a Nash Equilibrium and how does it benefit society" + }, + "singleStoreOfValue": { + "answers": [ + "To increase the purchasing power of their savings", + "To learn about other cultures and societies", + "To show off their wealth and status" + ], + "feedback": [ + "Correct! Merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society because it increased the purchasing power of their savings. This not only benefited the merchants, but also the society as a whole, as the adoption of a single store of value reduced the cost of completing trade with other societies and increased trade-based wealth. Fun fact: Bitcoin is an example of a store of value that has been adopted by many societies, and its widespread adoption has increased its purchasing power and facilitated trade", + "Sorry, that is not the correct answer. While learning about other cultures and societies may have been a side benefit of promoting the adoption of a foreign store of value, it was not the main reason", + "I'm afraid that is not the correct answer. While showing off wealth and status may have been a motivation for some individuals, it was not the main reason for why merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society." + ], + "question": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society", + "text": "As human societies and trade routes developed over time, stores of value that emerged in different societies began to compete with each other. Merchants and traders had to decide whether to save their profits in the store of value of their own society or in the store of value of the society they were trading with, or a combination of both.\n\nHolding savings in a foreign store of value gave merchants the ability to complete trade more easily in that society, and also gave them an incentive to promote the adoption of that store of value in their own society, as it would increase the purchasing power of their savings.\n\nWhen two societies adopt the same store of value, they see a significant reduction in the cost of trading with each other and an increase in trade-based wealth. In the 19th century, most of the world converged on a single store of value – gold – and this period saw the greatest increase in trade in history.\n", + "title": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society" } } } -] +} diff --git a/chapter-201-the-origins-of-money/201.01-lesson-origins-of-money.json b/chapter-201-the-origins-of-money/201.01-lesson-origins-of-money.json index 1b5b880..a9905f8 100644 --- a/chapter-201-the-origins-of-money/201.01-lesson-origins-of-money.json +++ b/chapter-201-the-origins-of-money/201.01-lesson-origins-of-money.json @@ -1,22 +1,18 @@ { "originsOfMoney": { - "title": "The origins of money", - "questions": { - "originsOfMoney": { - "answers": [ - "To store and transfer wealth", - "To serve as a form of entertainment", - "To act as a status symbol" - ], - "feedback": [ - "Congratulations! You hit the nail on the head. Collectibles have long been used as a medium for storing and transferring wealth, much like how Bitcoin is used today as a decentralized digital currency", - "Sorry, but collectibles aren't just for show - they have a deeper purpose", - "While collectibles may serve as a status symbol for some, there's more to it than just showing off." - ], - "question": "What is the primary and ultimate evolutionary function of collectibles", - "text": "The earliest human societies engaged in trade through barter, but this method had several limitations. One issue was the \"double coincidence of wants\" problem, where two people needed to desire the same item at the same time in order to complete a trade.\n\nTo overcome this issue, humans began to collect and value certain items for their rarity and symbolic significance, such as shells, animal teeth, and flint.\n\nThese collectibles served as a way for early humans to store and transfer wealth, providing an evolutionary advantage over other species such as Homo neanderthalensis.\n", - "title": "What is the primary and ultimate evolutionary function of collectibles" - } - } + "screen": "originsOfMoney", + "answers": [ + "To store and transfer wealth", + "To serve as a form of entertainment", + "To act as a status symbol" + ], + "feedback": [ + "Congratulations! You hit the nail on the head. Collectibles have long been used as a medium for storing and transferring wealth, much like how Bitcoin is used today as a decentralized digital currency", + "Sorry, but collectibles aren't just for show - they have a deeper purpose", + "While collectibles may serve as a status symbol for some, there's more to it than just showing off." + ], + "question": "What is the primary and ultimate evolutionary function of collectibles", + "text": "The earliest human societies engaged in trade through barter, but this method had several limitations. One issue was the \"double coincidence of wants\" problem, where two people needed to desire the same item at the same time in order to complete a trade.\n\nTo overcome this issue, humans began to collect and value certain items for their rarity and symbolic significance, such as shells, animal teeth, and flint.\n\nThese collectibles served as a way for early humans to store and transfer wealth, providing an evolutionary advantage over other species such as Homo neanderthalensis.\n", + "title": "What is the primary and ultimate evolutionary function of collectibles" } } diff --git a/chapter-201-the-origins-of-money/201.02-lesson-primitive-money.json b/chapter-201-the-origins-of-money/201.02-lesson-primitive-money.json index 7f75fed..56a67a8 100644 --- a/chapter-201-the-origins-of-money/201.02-lesson-primitive-money.json +++ b/chapter-201-the-origins-of-money/201.02-lesson-primitive-money.json @@ -1,22 +1,18 @@ { "primitiveMoney": { - "title": "Primitive forms of money", - "questions": { - "primitiveMoney": { - "answers": [ - "To store value", - "To serve as a form of entertainment", - "To act as a medium of exchange" - ], - "feedback": [ - "Congratulations! You're right on the money (pun intended). Collectibles served as a store of value in paleolithic societies, much like how Bitcoin and other cryptocurrencies are used today as a digital store of value", - "Sorry, collectibles might be fun to collect, but they had a more practical purpose in ancient societies", - "Collectibles were not used as frequently as modern currency, so they didn't quite play the same role as a medium of exchange." - ], - "question": "What was the primary role of collectibles in paleolithic societies", - "text": "Collectibles served as a precursor to money by allowing trade between different groups and facilitating the transfer of wealth between generations. Although they were not used as frequently as modern money in paleolithic societies, collectibles still served as a store of value and could sometimes even facilitate trade.\n\nPrimitive forms of money, such as collectibles, had a low velocity compared to modern currency and might only be transferred a few times during an individual's lifetime. However, durable collectibles that were passed down through generations had substantial value at each transfer and sometimes made trade possible.\n", - "title": "What was the primary role of collectibles in paleolithic societies" - } - } + "screen": "primitiveMoney", + "answers": [ + "To store value", + "To serve as a form of entertainment", + "To act as a medium of exchange" + ], + "feedback": [ + "Congratulations! You're right on the money (pun intended). Collectibles served as a store of value in paleolithic societies, much like how Bitcoin and other cryptocurrencies are used today as a digital store of value", + "Sorry, collectibles might be fun to collect, but they had a more practical purpose in ancient societies", + "Collectibles were not used as frequently as modern currency, so they didn't quite play the same role as a medium of exchange." + ], + "question": "What was the primary role of collectibles in paleolithic societies", + "text": "Collectibles served as a precursor to money by allowing trade between different groups and facilitating the transfer of wealth between generations. Although they were not used as frequently as modern money in paleolithic societies, collectibles still served as a store of value and could sometimes even facilitate trade.\n\nPrimitive forms of money, such as collectibles, had a low velocity compared to modern currency and might only be transferred a few times during an individual's lifetime. However, durable collectibles that were passed down through generations had substantial value at each transfer and sometimes made trade possible.\n", + "title": "What was the primary role of collectibles in paleolithic societies" } } diff --git a/chapter-201-the-origins-of-money/201.03-lesson-anticipating-demand.json b/chapter-201-the-origins-of-money/201.03-lesson-anticipating-demand.json index 0b75c6e..83c4cb2 100644 --- a/chapter-201-the-origins-of-money/201.03-lesson-anticipating-demand.json +++ b/chapter-201-the-origins-of-money/201.03-lesson-anticipating-demand.json @@ -1,22 +1,18 @@ { "anticipatingDemand": { - "title": "Anticipating Demand", - "questions": { - "anticipatingDemand": { - "answers": [ - "The ability to buy collectibles at a lower price before they became widely sought after", - "The ability to trade collectibles for other useful items", - "The ability to impress others with their collection of rare and valuable items" - ], - "feedback": [ - "Congratulations, you are correct! It seems that the concept of \"buy low, sell high\" is not a modern invention, as early humans also sought to acquire collectibles at a lower cost before their demand and trade value increased. Fun fact: this principle also applies to bitcoin, where early adopters were able to acquire bitcoins at a much lower price before their value skyrocketed", - "Sorry, that is not the correct answer. While being able to trade collectibles for other useful items may have been a benefit of correctly anticipating demand, it was not the main advantage", - "I'm afraid that is not the correct answer. While having a collection of rare and valuable items may have been a source of pride and admiration, it was not the main advantage" - ], - "question": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies", - "text": "The choice of which items to collect or create posed a significant problem for early humans, as they had to anticipate which objects would be desired by others. The ability to correctly predict which items would be in demand for their collectible value gave a significant advantage to the owner in terms of their ability to trade and accumulate wealth.\n\nSome Native American tribes, such as the Narragansetts, even focused on producing collectibles that had little practical use, but were valuable in trade.\n\nThe earlier a collectible is anticipated to be in future demand, the greater the advantage its possessor has, as it can be obtained at a lower cost before it becomes widely sought after and its trade value increases as the number of people demanding it grows.\n", - "title": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies" - } - } + "screen": "anticipatingDemand", + "answers": [ + "The ability to buy collectibles at a lower price before they became widely sought after", + "The ability to trade collectibles for other useful items", + "The ability to impress others with their collection of rare and valuable items" + ], + "feedback": [ + "Congratulations, you are correct! It seems that the concept of \"buy low, sell high\" is not a modern invention, as early humans also sought to acquire collectibles at a lower cost before their demand and trade value increased. Fun fact: this principle also applies to bitcoin, where early adopters were able to acquire bitcoins at a much lower price before their value skyrocketed", + "Sorry, that is not the correct answer. While being able to trade collectibles for other useful items may have been a benefit of correctly anticipating demand, it was not the main advantage", + "I'm afraid that is not the correct answer. While having a collection of rare and valuable items may have been a source of pride and admiration, it was not the main advantage" + ], + "question": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies", + "text": "The choice of which items to collect or create posed a significant problem for early humans, as they had to anticipate which objects would be desired by others. The ability to correctly predict which items would be in demand for their collectible value gave a significant advantage to the owner in terms of their ability to trade and accumulate wealth.\n\nSome Native American tribes, such as the Narragansetts, even focused on producing collectibles that had little practical use, but were valuable in trade.\n\nThe earlier a collectible is anticipated to be in future demand, the greater the advantage its possessor has, as it can be obtained at a lower cost before it becomes widely sought after and its trade value increases as the number of people demanding it grows.\n", + "title": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies" } } diff --git a/chapter-201-the-origins-of-money/201.04-lesson-nash-equilibrium.json b/chapter-201-the-origins-of-money/201.04-lesson-nash-equilibrium.json index 7280de3..099a916 100644 --- a/chapter-201-the-origins-of-money/201.04-lesson-nash-equilibrium.json +++ b/chapter-201-the-origins-of-money/201.04-lesson-nash-equilibrium.json @@ -1,22 +1,18 @@ { "nashEquilibrium": { - "title": "The Key to Facilitating Trade", - "questions": { - "nashEquilibrium": { - "answers": [ - "A concept that helps societies decide on a single store of value", - "A type of dance that promotes trade and the division of labor", - "A musical instrument that makes it easier to conduct trade and specialize in different tasks" - ], - "feedback": [ - "Congratulations, you are correct! A Nash Equilibrium is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy. In the context of choosing a store of value, achieving a Nash Equilibrium means that society has converged on a single store of value, which greatly facilitates trade and the division of labor. Fun fact: Bitcoin is often cited as an example of a Nash Equilibrium, as it has become the dominant cryptocurrency due to its perceived value and widespread adoption", - "Sorry, that is not the correct answer. While a Nash Equilibrium has nothing to do with dance, it is an important concept in game theory that can benefit society", - "I'm afraid that is not the correct answer. While music can bring people together and facilitate cooperation, a Nash Equilibrium has nothing to do with musical instruments. It is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy." - ], - "question": "What is a Nash Equilibrium and how does it benefit society", - "text": "Acquiring an item with the expectation that it will be desired as a future store of value can accelerate its adoption for that purpose. This process can create a feedback loop that drives societies towards adopting a single store of value.\n\nIn game theory, this is known as a \"Nash Equilibrium\". Reaching a Nash Equilibrium for a store of value can greatly benefit a society, as it makes trade and the division of labor easier and paves the way for the development of civilization.\n", - "title": "What is a Nash Equilibrium and how does it benefit society" - } - } + "screen": "nashEquilibrium", + "answers": [ + "A concept that helps societies decide on a single store of value", + "A type of dance that promotes trade and the division of labor", + "A musical instrument that makes it easier to conduct trade and specialize in different tasks" + ], + "feedback": [ + "Congratulations, you are correct! A Nash Equilibrium is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy. In the context of choosing a store of value, achieving a Nash Equilibrium means that society has converged on a single store of value, which greatly facilitates trade and the division of labor. Fun fact: Bitcoin is often cited as an example of a Nash Equilibrium, as it has become the dominant cryptocurrency due to its perceived value and widespread adoption", + "Sorry, that is not the correct answer. While a Nash Equilibrium has nothing to do with dance, it is an important concept in game theory that can benefit society", + "I'm afraid that is not the correct answer. While music can bring people together and facilitate cooperation, a Nash Equilibrium has nothing to do with musical instruments. It is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy." + ], + "question": "What is a Nash Equilibrium and how does it benefit society", + "text": "Acquiring an item with the expectation that it will be desired as a future store of value can accelerate its adoption for that purpose. This process can create a feedback loop that drives societies towards adopting a single store of value.\n\nIn game theory, this is known as a \"Nash Equilibrium\". Reaching a Nash Equilibrium for a store of value can greatly benefit a society, as it makes trade and the division of labor easier and paves the way for the development of civilization.\n", + "title": "What is a Nash Equilibrium and how does it benefit society" } } diff --git a/chapter-201-the-origins-of-money/201.05-lesson-single-store-of-value.json b/chapter-201-the-origins-of-money/201.05-lesson-single-store-of-value.json index e3beae3..b3457bd 100644 --- a/chapter-201-the-origins-of-money/201.05-lesson-single-store-of-value.json +++ b/chapter-201-the-origins-of-money/201.05-lesson-single-store-of-value.json @@ -1,22 +1,18 @@ { "singleStoreOfValue": { - "title": "The Benefits of Converging on a Single Store of Value", - "questions": { - "singleStoreOfValue": { - "answers": [ - "To increase the purchasing power of their savings", - "To learn about other cultures and societies", - "To show off their wealth and status" - ], - "feedback": [ - "Correct! Merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society because it increased the purchasing power of their savings. This not only benefited the merchants, but also the society as a whole, as the adoption of a single store of value reduced the cost of completing trade with other societies and increased trade-based wealth. Fun fact: Bitcoin is an example of a store of value that has been adopted by many societies, and its widespread adoption has increased its purchasing power and facilitated trade", - "Sorry, that is not the correct answer. While learning about other cultures and societies may have been a side benefit of promoting the adoption of a foreign store of value, it was not the main reason", - "I'm afraid that is not the correct answer. While showing off wealth and status may have been a motivation for some individuals, it was not the main reason for why merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society." - ], - "question": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society", - "text": "As human societies and trade routes developed over time, stores of value that emerged in different societies began to compete with each other. Merchants and traders had to decide whether to save their profits in the store of value of their own society or in the store of value of the society they were trading with, or a combination of both.\n\nHolding savings in a foreign store of value gave merchants the ability to complete trade more easily in that society, and also gave them an incentive to promote the adoption of that store of value in their own society, as it would increase the purchasing power of their savings.\n\nWhen two societies adopt the same store of value, they see a significant reduction in the cost of trading with each other and an increase in trade-based wealth. In the 19th century, most of the world converged on a single store of value – gold – and this period saw the greatest increase in trade in history.\n", - "title": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society" - } - } + "screen": "singleStoreOfValue", + "answers": [ + "To increase the purchasing power of their savings", + "To learn about other cultures and societies", + "To show off their wealth and status" + ], + "feedback": [ + "Correct! Merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society because it increased the purchasing power of their savings. This not only benefited the merchants, but also the society as a whole, as the adoption of a single store of value reduced the cost of completing trade with other societies and increased trade-based wealth. Fun fact: Bitcoin is an example of a store of value that has been adopted by many societies, and its widespread adoption has increased its purchasing power and facilitated trade", + "Sorry, that is not the correct answer. While learning about other cultures and societies may have been a side benefit of promoting the adoption of a foreign store of value, it was not the main reason", + "I'm afraid that is not the correct answer. While showing off wealth and status may have been a motivation for some individuals, it was not the main reason for why merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society." + ], + "question": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society", + "text": "As human societies and trade routes developed over time, stores of value that emerged in different societies began to compete with each other. Merchants and traders had to decide whether to save their profits in the store of value of their own society or in the store of value of the society they were trading with, or a combination of both.\n\nHolding savings in a foreign store of value gave merchants the ability to complete trade more easily in that society, and also gave them an incentive to promote the adoption of that store of value in their own society, as it would increase the purchasing power of their savings.\n\nWhen two societies adopt the same store of value, they see a significant reduction in the cost of trading with each other and an increase in trade-based wealth. In the 19th century, most of the world converged on a single store of value – gold – and this period saw the greatest increase in trade in history.\n", + "title": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society" } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202-combined.json b/chapter-202-attributes-of-a-good-store-of-value/202-combined.json index ed5feca..eed480c 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202-combined.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202-combined.json @@ -1,200 +1,142 @@ -[ - { - "whatIsGoodSOV": { - "title": "Some stores of value are better than others", - "questions": { - "whatIsGoodSOV": { - "answers": [ - "Durability, portability, interchangeability, verifiability, divisibility, scarcity, long history, and resistance to censorship", - "Tastiness, cuteness, softness, and Instagram-ability", - "Rarity, beauty, and sentimental value" - ], - "feedback": [ - "Yes! A good store of value should have attributes such as durability, portability, interchangeability, verifiability, divisibility, scarcity, a long history, and resistance to censorship. These characteristics make it easier to use as a medium of exchange and store of value, and increase its demand over time", - "Sorry, that is not the correct answer. While tastiness, cuteness, softness, and Instagram-ability may be desirable qualities in other contexts, they are not typically considered important attributes for a store of value", - "I'm afraid that is not the correct answer. While rarity, beauty, and sentimental value may make an item valuable to a particular individual, they are not typically considered important attributes for a store of value that is widely accepted and used as a medium of exchange." - ], - "question": "What are some attributes that make a good store of value", - "text": "When stores of value compete with each other, the attributes that make a good store of value allow it to outperform its competitors and increase demand over time.\n\nMany goods have been used as stores of value but certain attributes are particularly desirable and allow these goods to be more successful.\n\nAn ideal store of value should be durable, portable, interchangeable, verifiable, divisible, scarce, have a long history, and resistant to censorship.\n", - "title": "What are some attributes that make a good store of value" - } - } - } - }, - { - "durability": { - "title": "Durability is an important attribute for a good store of value", - "questions": { - "durability": { - "answers": [ - "The network that secures the currency", - "The physical manifestation of the currency", - "The institution that issues the currency" - ], - "feedback": [ - "You got it right. The network that secures the currency is an important factor in determining its durability, especially for digital currencies like bitcoin. Did you know that bitcoin has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers? That's quite impressive for a currency that's still in its early stages", - "Nope, sorry! The physical manifestation of the currency is actually not as important as the institution that issues it or the network that secures it. Don't worry though, you're not alone in making this mistake. Even the Ancient Greeks used to mint their coins out of perishable materials like bronze and copper", - "Close, but not quite! The institution that issues the currency is actually an important factor in determining its durability. But hey, at least you're not alone in this mistake. There have been many governments and currencies that have come and gone over the centuries." - ], - "question": "Which of the following is an important factor in determining the durability of a good store of value", - "text": "The good used as money should not be perishable or easily destroyed. Gold is known for its durability and is often considered the \"king\" in this regard.\n\nA large portion of the gold that has ever been mined or minted, including the gold of the Pharaohs, still exists today and is likely to remain available for many more years. Gold coins that were used as money in ancient times still hold significant value today.\n\nFiat currencies and bitcoins are digital records that may take physical form, such as paper bills. However, it is not the physical manifestation of these currencies that should be considered for their durability, but rather the durability of the institution that issues them.\n\nMany governments and their currencies have come and gone over the centuries, while others, such as the US dollar and British pound, have survived for a longer period of time. Bitcoins have no issuing authority, so their durability depends on the network that secures them. While it is still early to draw strong conclusions about the durability of bitcoins, there are signs that the network has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers.\n", - "title": "Which of the following is an important factor in determining the durability of a good store of value" - } - } - } - }, - { - "portability": { - "title": "The good must be easy to transport and store", - "questions": { - "portability": { - "answers": [ - "Its physical form", - "Its ability to be easily transported and stored", - "Its ability to facilitate long-distance trade" - ], - "feedback": [ - "You got it right. The physical form of the good is not a factor that makes it portable. In fact, digital currencies like bitcoin are the most portable stores of value because they can be easily stored on a small device and transmitted quickly across long distances. Did you know that private keys representing hundreds of millions of dollars can be stored on a tiny USB drive and easily carried anywhere with bitcoin? That's pretty impressive", - "Sorry, that's incorrect! The ability to be easily transported and stored is actually an important factor that makes a good store of value portable. But don't worry, it's a common mistake. After all, who wouldn't want to carry around a cow as a store of value? It would make for a pretty impressive conversation starter at least", - "Oops, that's not the right answer! The ability to facilitate long-distance trade is actually an important factor that makes a good store of value portable. But hey, at least you're not alone in this mistake. It's easy to see how someone might think that cows are the perfect portable store of value, given their ability to produce milk and beef." - ], - "question": "Which of the following is NOT a factor that makes a good store of value portable", - "text": "\n\"Portability\" refers to how easy it is to move or transport a good from one place to another.\n\nBitcoins are highly portable, allowing for easy storage on a small USB drive and quick transmission across long distances. Similarly, fiat currencies are also digital and therefore portable, but government regulations and capital controls can make large transfers of value difficult or impossible.\n\nOn the other hand, gold, being physical in form and very dense, is the least portable store of value, with the majority of bullion never being transported and the transfer of physical gold being costly, risky, and time-consuming.\n", - "title": "Which of the following is NOT a factor that makes a good store of value portable" - } - } - } - }, - { - "fungibility": { - "title": "One specimen should be interchangeable with another of equal quantity", - "questions": { - "fungibility": { - "answers": [ - "The shape and quality of diamonds are irregular", - "Gold is more valuable than diamonds", - "Gold is more abundant than diamonds" - ], - "feedback": [ - "Exactly**!** The irregular shape and quality of diamonds makes them less interchangeable than gold, which is why gold is considered more fungible. Did you also know that bitcoin is considered fungible at the network level, but its traceability on the blockchain can sometimes lead to it being treated as non-fungible by merchants or exchanges", - "Wrong answer! Gold may be more valuable than diamonds, but that's not the main reason it's considered more fungible. Looks like you need to brush up on your fungibility knowledge", - "Nope, sorry! While gold may be more abundant than diamonds, that's not the main reason it's considered more fungible. Better luck next time!" - ], - "question": "What is the main reason that gold is considered more fungible than diamonds", - "text": "\n\"Fungibility\" means that one unit of a currency is interchangeable with another unit of the same currency. This is an important attribute for a good store of value.\n\nGold is a highly fungible store of value, as when melted down, an ounce of gold is essentially indistinguishable from any other. Fiat currencies, on the other hand, may not always be completely fungible, as their issuing institutions may treat different denominations differently.\n\nLike gold, units of bitcoin are fungible, but there are some nuances to it. We'll dive into this in a later chapter.\n", - "title": "What is the main reason that gold is considered more fungible than diamonds" - } - } - } - }, - { - "verifiability": { - "title": "The good must be easy to quickly identify and verify as authentic", - "questions": { - "verifiability": { - "answers": [ - "By using cryptographic signatures", - "By checking for gold-plated tungsten", - "By checking for features on banknotes to prevent counterfeiting" - ], - "feedback": [ - "Congratulations! You are correct. Bitcoin can be verified with mathematical certainty using cryptographic signatures", - "Sorry, but that's not quite right. Better luck next time", - "Wrong! Bitcoin is purely digital and doesn't utilize banknotes. Try again!" - ], - "question": "How can bitcoin be verified", - "text": "It is important for a good store of value to be easily verifiable as authentic. This increases confidence in trade and the likelihood that a transaction will be completed.\n\nBoth fiat currencies and gold are generally easy to verify, but they are not foolproof. Counterfeit bills and gold-plated tungsten have been used to deceive people in the past.\n\nOn the other hand, the use of cryptography makes verification very easy for bitcoin and makes counterfeiting impossible.\n", - "title": "How can bitcoin be verified" - } - } - } - }, - { - "divisibility": { - "title": "The good must be easy to subdivide", - "questions": { - "divisibility": { - "answers": [ - "Gold", - "Bitcoin", - "Fiat currency" - ], - "feedback": [ - "You are correct. Gold is difficult divide into small quantities for everyday trade. Did you know that gold has been used as a store of value for thousands of years due to its rarity and durability", - "Sorry, but that's not quite right. Bitcoin is highly divisible into its base unit 'satoshi', and it can even be divided into milli-satoshis (1/1000 of a satoshi) on the Lightning Network", - "Nope**.** While fiat currencies are not as divisible as bitcoin, they are easily divisible into smaller denominations." - ], - "question": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade", - "text": "The ability to divide a good is an important attribute for it to be a good store of value.\n\nImagine you have a $100 bill and want to buy a pack of chewing gum that costs 10 cents. The success of the trade depends on the seller having $99.90 in change available in that moment.\n\nIn societies where trade is prevalent, the ability to divide a good into smaller quantities allows for more precise exchange and can make it easier to use in day-to-day transactions.\n\nBitcoin is particularly useful in this regard, as it can be divided down to a hundred millionth of a unit and transmitted in tiny and exact amounts.\n\nFiat currencies are typically divisible down to pocket change, which has little purchasing power, making fiat divisible enough in practice.\n\nGold, while physically divisible, can be difficult to use in small quantities for everyday trade.\n", - "title": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade" - } - } - } - }, - { - "scarce": { - "title": "A monetary good must scarce", - "questions": { - "scarce": { - "answers": [ - "Scarcity", - "Abundance", - "Ease of production" - ], - "feedback": [ - "Congratulations! You are correct. Did you know that there will only ever be a maximum of 21 million bitcoins in circulation, making it a scarce and valuable asset", - "Sorry, but abundance is not the most important attribute for a store of value. Better luck next time", - "Sorry, but ease of production is not the most important attribute for a store of value. Better luck next time!" - ], - "question": "What is the most important attribute of a store of value", - "text": "A good store of value should have a limited supply, or be scarce.\n\nThis is because scarcity can create value, as people often desire rare or hard-to-obtain items. Bitcoin, for instance, is designed to have a maximum of 21 million units, which gives each owner a known percentage of the total possible supply.\n\nIn contrast, the supply of gold can potentially increase through new mining methods, and fiat currencies are often prone to inflation, leading to a decline in value over time.\n", - "title": "What is the most important attribute of a store of value" - } - } - } - }, - { - "establishedHistory": { - "title": "An established history of being valued by society", - "questions": { - "establishedHistory": { - "answers": [ - "The new arrival has a significant advantage over the established good", - "The established good has a longer history of being valued by society", - "The new arrival is cheaper to produce" - ], - "feedback": [ - "You are correct. A long-established store of value is less likely to be displaced by a new arrival unless the new arrival has a significant advantage over the established good", - "Sorry, but this is actually the reason that a long-established store of value is less likely to be displaced. Better luck next time", - "Nope, wrong. Did you not pay attention in the previous lesson on scarcity?" - ], - "question": "What is the main reason that a long-established store of value could be displaced by a new arrival", - "text": "This is because a well-established store of value is less likely to be displaced by a newcomer, unless it has a significant advantage over the established good.\n\nAdditionally, people are creatures of habit and will keep using what they already know.\n\nGold, for example, has a long history of being valued and has maintained its value over time. In contrast, fiat currencies, which are a relatively recent invention, have a tendency to lose value over time due to inflation.\n\nBitcoin, although it has only been around for a short time, has shown resilience in the market and is likely to continue to be valued.\n", - "title": "What is the main reason that a long-established store of value could be displaced by a new arrival" - } - } - } - }, - { - "censorshipResistance": { - "title": "No permission required", - "questions": { - "censorshipResistance": { - "answers": [ - "Its decentralized, peer-to-peer network", - "Its physical nature", - "Its regulation by states" - ], - "feedback": [ - "You are correct. The decentralized, peer-to-peer network of Bitcoin allows for transactions to be made without permission, making it a censorship-resistant good", - "No. In fact, physical goods often require permission to cross borders and can easily be confiscated. Better luck next time", - "Sorry, but the opposite is actually true. The fiat banking system, which is regulated by states, requires human intervention to report and prevent certain uses of monetary goods, making it prone to censorship. Try again!" - ], - "question": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good", - "text": "Censorship-resistance is an attribute that has become increasingly important in the digital age, as it refers to the difficulty that external parties, such as corporations or governments, have in preventing an individual from using a particular good.\n\nThis attribute is particularly valuable for individuals living under regimes that enforce capital controls or prohibit certain forms of trade. Bitcoin is often cited as being a censorship-resistant good due to its decentralized, peer-to-peer network, which allows for transactions to be made without human intervention or permission.\n\nIn contrast, the fiat banking system is regulated by states and requires human intervention to report and prevent certain uses of monetary goods, such as capital controls.\n\nGold, although it is not issued by states, can be difficult to transmit at a distance and is therefore more subject to state regulation.\n", - "title": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good" - } +{ + "AttributesofagoodStoreofValue": { + "title": "Attributes of a good Store of Value", + "questions": { + "whatIsGoodSOV": { + "answers": [ + "Durability, portability, interchangeability, verifiability, divisibility, scarcity, long history, and resistance to censorship", + "Tastiness, cuteness, softness, and Instagram-ability", + "Rarity, beauty, and sentimental value" + ], + "feedback": [ + "Yes! A good store of value should have attributes such as durability, portability, interchangeability, verifiability, divisibility, scarcity, a long history, and resistance to censorship. These characteristics make it easier to use as a medium of exchange and store of value, and increase its demand over time", + "Sorry, that is not the correct answer. While tastiness, cuteness, softness, and Instagram-ability may be desirable qualities in other contexts, they are not typically considered important attributes for a store of value", + "I'm afraid that is not the correct answer. While rarity, beauty, and sentimental value may make an item valuable to a particular individual, they are not typically considered important attributes for a store of value that is widely accepted and used as a medium of exchange." + ], + "question": "What are some attributes that make a good store of value", + "text": "When stores of value compete with each other, the attributes that make a good store of value allow it to outperform its competitors and increase demand over time.\n\nMany goods have been used as stores of value but certain attributes are particularly desirable and allow these goods to be more successful.\n\nAn ideal store of value should be durable, portable, interchangeable, verifiable, divisible, scarce, have a long history, and resistant to censorship.\n", + "title": "What are some attributes that make a good store of value" + }, + "durability": { + "answers": [ + "The network that secures the currency", + "The physical manifestation of the currency", + "The institution that issues the currency" + ], + "feedback": [ + "You got it right. The network that secures the currency is an important factor in determining its durability, especially for digital currencies like bitcoin. Did you know that bitcoin has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers? That's quite impressive for a currency that's still in its early stages", + "Nope, sorry! The physical manifestation of the currency is actually not as important as the institution that issues it or the network that secures it. Don't worry though, you're not alone in making this mistake. Even the Ancient Greeks used to mint their coins out of perishable materials like bronze and copper", + "Close, but not quite! The institution that issues the currency is actually an important factor in determining its durability. But hey, at least you're not alone in this mistake. There have been many governments and currencies that have come and gone over the centuries." + ], + "question": "Which of the following is an important factor in determining the durability of a good store of value", + "text": "The good used as money should not be perishable or easily destroyed. Gold is known for its durability and is often considered the \"king\" in this regard.\n\nA large portion of the gold that has ever been mined or minted, including the gold of the Pharaohs, still exists today and is likely to remain available for many more years. Gold coins that were used as money in ancient times still hold significant value today.\n\nFiat currencies and bitcoins are digital records that may take physical form, such as paper bills. However, it is not the physical manifestation of these currencies that should be considered for their durability, but rather the durability of the institution that issues them.\n\nMany governments and their currencies have come and gone over the centuries, while others, such as the US dollar and British pound, have survived for a longer period of time. Bitcoins have no issuing authority, so their durability depends on the network that secures them. While it is still early to draw strong conclusions about the durability of bitcoins, there are signs that the network has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers.\n", + "title": "Which of the following is an important factor in determining the durability of a good store of value" + }, + "portability": { + "answers": [ + "Its physical form", + "Its ability to be easily transported and stored", + "Its ability to facilitate long-distance trade" + ], + "feedback": [ + "You got it right. The physical form of the good is not a factor that makes it portable. In fact, digital currencies like bitcoin are the most portable stores of value because they can be easily stored on a small device and transmitted quickly across long distances. Did you know that private keys representing hundreds of millions of dollars can be stored on a tiny USB drive and easily carried anywhere with bitcoin? That's pretty impressive", + "Sorry, that's incorrect! The ability to be easily transported and stored is actually an important factor that makes a good store of value portable. But don't worry, it's a common mistake. After all, who wouldn't want to carry around a cow as a store of value? It would make for a pretty impressive conversation starter at least", + "Oops, that's not the right answer! The ability to facilitate long-distance trade is actually an important factor that makes a good store of value portable. But hey, at least you're not alone in this mistake. It's easy to see how someone might think that cows are the perfect portable store of value, given their ability to produce milk and beef." + ], + "question": "Which of the following is NOT a factor that makes a good store of value portable", + "text": "\n\"Portability\" refers to how easy it is to move or transport a good from one place to another.\n\nBitcoins are highly portable, allowing for easy storage on a small USB drive and quick transmission across long distances. Similarly, fiat currencies are also digital and therefore portable, but government regulations and capital controls can make large transfers of value difficult or impossible.\n\nOn the other hand, gold, being physical in form and very dense, is the least portable store of value, with the majority of bullion never being transported and the transfer of physical gold being costly, risky, and time-consuming.\n", + "title": "Which of the following is NOT a factor that makes a good store of value portable" + }, + "fungibility": { + "answers": [ + "The shape and quality of diamonds are irregular", + "Gold is more valuable than diamonds", + "Gold is more abundant than diamonds" + ], + "feedback": [ + "Exactly**!** The irregular shape and quality of diamonds makes them less interchangeable than gold, which is why gold is considered more fungible. Did you also know that bitcoin is considered fungible at the network level, but its traceability on the blockchain can sometimes lead to it being treated as non-fungible by merchants or exchanges", + "Wrong answer! Gold may be more valuable than diamonds, but that's not the main reason it's considered more fungible. Looks like you need to brush up on your fungibility knowledge", + "Nope, sorry! While gold may be more abundant than diamonds, that's not the main reason it's considered more fungible. Better luck next time!" + ], + "question": "What is the main reason that gold is considered more fungible than diamonds", + "text": "\n\"Fungibility\" means that one unit of a currency is interchangeable with another unit of the same currency. This is an important attribute for a good store of value.\n\nGold is a highly fungible store of value, as when melted down, an ounce of gold is essentially indistinguishable from any other. Fiat currencies, on the other hand, may not always be completely fungible, as their issuing institutions may treat different denominations differently.\n\nLike gold, units of bitcoin are fungible, but there are some nuances to it. We'll dive into this in a later chapter.\n", + "title": "What is the main reason that gold is considered more fungible than diamonds" + }, + "verifiability": { + "answers": [ + "By using cryptographic signatures", + "By checking for gold-plated tungsten", + "By checking for features on banknotes to prevent counterfeiting" + ], + "feedback": [ + "Congratulations! You are correct. Bitcoin can be verified with mathematical certainty using cryptographic signatures", + "Sorry, but that's not quite right. Better luck next time", + "Wrong! Bitcoin is purely digital and doesn't utilize banknotes. Try again!" + ], + "question": "How can bitcoin be verified", + "text": "It is important for a good store of value to be easily verifiable as authentic. This increases confidence in trade and the likelihood that a transaction will be completed.\n\nBoth fiat currencies and gold are generally easy to verify, but they are not foolproof. Counterfeit bills and gold-plated tungsten have been used to deceive people in the past.\n\nOn the other hand, the use of cryptography makes verification very easy for bitcoin and makes counterfeiting impossible.\n", + "title": "How can bitcoin be verified" + }, + "divisibility": { + "answers": [ + "Gold", + "Bitcoin", + "Fiat currency" + ], + "feedback": [ + "You are correct. Gold is difficult divide into small quantities for everyday trade. Did you know that gold has been used as a store of value for thousands of years due to its rarity and durability", + "Sorry, but that's not quite right. Bitcoin is highly divisible into its base unit 'satoshi', and it can even be divided into milli-satoshis (1/1000 of a satoshi) on the Lightning Network", + "Nope**.** While fiat currencies are not as divisible as bitcoin, they are easily divisible into smaller denominations." + ], + "question": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade", + "text": "The ability to divide a good is an important attribute for it to be a good store of value.\n\nImagine you have a $100 bill and want to buy a pack of chewing gum that costs 10 cents. The success of the trade depends on the seller having $99.90 in change available in that moment.\n\nIn societies where trade is prevalent, the ability to divide a good into smaller quantities allows for more precise exchange and can make it easier to use in day-to-day transactions.\n\nBitcoin is particularly useful in this regard, as it can be divided down to a hundred millionth of a unit and transmitted in tiny and exact amounts.\n\nFiat currencies are typically divisible down to pocket change, which has little purchasing power, making fiat divisible enough in practice.\n\nGold, while physically divisible, can be difficult to use in small quantities for everyday trade.\n", + "title": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade" + }, + "scarce": { + "answers": [ + "Scarcity", + "Abundance", + "Ease of production" + ], + "feedback": [ + "Congratulations! You are correct. Did you know that there will only ever be a maximum of 21 million bitcoins in circulation, making it a scarce and valuable asset", + "Sorry, but abundance is not the most important attribute for a store of value. Better luck next time", + "Sorry, but ease of production is not the most important attribute for a store of value. Better luck next time!" + ], + "question": "What is the most important attribute of a store of value", + "text": "A good store of value should have a limited supply, or be scarce.\n\nThis is because scarcity can create value, as people often desire rare or hard-to-obtain items. Bitcoin, for instance, is designed to have a maximum of 21 million units, which gives each owner a known percentage of the total possible supply.\n\nIn contrast, the supply of gold can potentially increase through new mining methods, and fiat currencies are often prone to inflation, leading to a decline in value over time.\n", + "title": "What is the most important attribute of a store of value" + }, + "establishedHistory": { + "answers": [ + "The new arrival has a significant advantage over the established good", + "The established good has a longer history of being valued by society", + "The new arrival is cheaper to produce" + ], + "feedback": [ + "You are correct. A long-established store of value is less likely to be displaced by a new arrival unless the new arrival has a significant advantage over the established good", + "Sorry, but this is actually the reason that a long-established store of value is less likely to be displaced. Better luck next time", + "Nope, wrong. Did you not pay attention in the previous lesson on scarcity?" + ], + "question": "What is the main reason that a long-established store of value could be displaced by a new arrival", + "text": "This is because a well-established store of value is less likely to be displaced by a newcomer, unless it has a significant advantage over the established good.\n\nAdditionally, people are creatures of habit and will keep using what they already know.\n\nGold, for example, has a long history of being valued and has maintained its value over time. In contrast, fiat currencies, which are a relatively recent invention, have a tendency to lose value over time due to inflation.\n\nBitcoin, although it has only been around for a short time, has shown resilience in the market and is likely to continue to be valued.\n", + "title": "What is the main reason that a long-established store of value could be displaced by a new arrival" + }, + "censorshipResistance": { + "answers": [ + "Its decentralized, peer-to-peer network", + "Its physical nature", + "Its regulation by states" + ], + "feedback": [ + "You are correct. The decentralized, peer-to-peer network of Bitcoin allows for transactions to be made without permission, making it a censorship-resistant good", + "No. In fact, physical goods often require permission to cross borders and can easily be confiscated. Better luck next time", + "Sorry, but the opposite is actually true. The fiat banking system, which is regulated by states, requires human intervention to report and prevent certain uses of monetary goods, making it prone to censorship. Try again!" + ], + "question": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good", + "text": "Censorship-resistance is an attribute that has become increasingly important in the digital age, as it refers to the difficulty that external parties, such as corporations or governments, have in preventing an individual from using a particular good.\n\nThis attribute is particularly valuable for individuals living under regimes that enforce capital controls or prohibit certain forms of trade. Bitcoin is often cited as being a censorship-resistant good due to its decentralized, peer-to-peer network, which allows for transactions to be made without human intervention or permission.\n\nIn contrast, the fiat banking system is regulated by states and requires human intervention to report and prevent certain uses of monetary goods, such as capital controls.\n\nGold, although it is not issued by states, can be difficult to transmit at a distance and is therefore more subject to state regulation.\n", + "title": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good" } } } -] +} diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.01-lesson-what-is-good-sov.json b/chapter-202-attributes-of-a-good-store-of-value/202.01-lesson-what-is-good-sov.json index dc33711..f328abe 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.01-lesson-what-is-good-sov.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.01-lesson-what-is-good-sov.json @@ -1,22 +1,18 @@ { "whatIsGoodSOV": { - "title": "Some stores of value are better than others", - "questions": { - "whatIsGoodSOV": { - "answers": [ - "Durability, portability, interchangeability, verifiability, divisibility, scarcity, long history, and resistance to censorship", - "Tastiness, cuteness, softness, and Instagram-ability", - "Rarity, beauty, and sentimental value" - ], - "feedback": [ - "Yes! A good store of value should have attributes such as durability, portability, interchangeability, verifiability, divisibility, scarcity, a long history, and resistance to censorship. These characteristics make it easier to use as a medium of exchange and store of value, and increase its demand over time", - "Sorry, that is not the correct answer. While tastiness, cuteness, softness, and Instagram-ability may be desirable qualities in other contexts, they are not typically considered important attributes for a store of value", - "I'm afraid that is not the correct answer. While rarity, beauty, and sentimental value may make an item valuable to a particular individual, they are not typically considered important attributes for a store of value that is widely accepted and used as a medium of exchange." - ], - "question": "What are some attributes that make a good store of value", - "text": "When stores of value compete with each other, the attributes that make a good store of value allow it to outperform its competitors and increase demand over time.\n\nMany goods have been used as stores of value but certain attributes are particularly desirable and allow these goods to be more successful.\n\nAn ideal store of value should be durable, portable, interchangeable, verifiable, divisible, scarce, have a long history, and resistant to censorship.\n", - "title": "What are some attributes that make a good store of value" - } - } + "screen": "whatIsGoodSOV", + "answers": [ + "Durability, portability, interchangeability, verifiability, divisibility, scarcity, long history, and resistance to censorship", + "Tastiness, cuteness, softness, and Instagram-ability", + "Rarity, beauty, and sentimental value" + ], + "feedback": [ + "Yes! A good store of value should have attributes such as durability, portability, interchangeability, verifiability, divisibility, scarcity, a long history, and resistance to censorship. These characteristics make it easier to use as a medium of exchange and store of value, and increase its demand over time", + "Sorry, that is not the correct answer. While tastiness, cuteness, softness, and Instagram-ability may be desirable qualities in other contexts, they are not typically considered important attributes for a store of value", + "I'm afraid that is not the correct answer. While rarity, beauty, and sentimental value may make an item valuable to a particular individual, they are not typically considered important attributes for a store of value that is widely accepted and used as a medium of exchange." + ], + "question": "What are some attributes that make a good store of value", + "text": "When stores of value compete with each other, the attributes that make a good store of value allow it to outperform its competitors and increase demand over time.\n\nMany goods have been used as stores of value but certain attributes are particularly desirable and allow these goods to be more successful.\n\nAn ideal store of value should be durable, portable, interchangeable, verifiable, divisible, scarce, have a long history, and resistant to censorship.\n", + "title": "What are some attributes that make a good store of value" } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.02-lesson-durability.json b/chapter-202-attributes-of-a-good-store-of-value/202.02-lesson-durability.json index 7ceeabe..5a71901 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.02-lesson-durability.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.02-lesson-durability.json @@ -1,22 +1,18 @@ { "durability": { - "title": "Durability is an important attribute for a good store of value", - "questions": { - "durability": { - "answers": [ - "The network that secures the currency", - "The physical manifestation of the currency", - "The institution that issues the currency" - ], - "feedback": [ - "You got it right. The network that secures the currency is an important factor in determining its durability, especially for digital currencies like bitcoin. Did you know that bitcoin has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers? That's quite impressive for a currency that's still in its early stages", - "Nope, sorry! The physical manifestation of the currency is actually not as important as the institution that issues it or the network that secures it. Don't worry though, you're not alone in making this mistake. Even the Ancient Greeks used to mint their coins out of perishable materials like bronze and copper", - "Close, but not quite! The institution that issues the currency is actually an important factor in determining its durability. But hey, at least you're not alone in this mistake. There have been many governments and currencies that have come and gone over the centuries." - ], - "question": "Which of the following is an important factor in determining the durability of a good store of value", - "text": "The good used as money should not be perishable or easily destroyed. Gold is known for its durability and is often considered the \"king\" in this regard.\n\nA large portion of the gold that has ever been mined or minted, including the gold of the Pharaohs, still exists today and is likely to remain available for many more years. Gold coins that were used as money in ancient times still hold significant value today.\n\nFiat currencies and bitcoins are digital records that may take physical form, such as paper bills. However, it is not the physical manifestation of these currencies that should be considered for their durability, but rather the durability of the institution that issues them.\n\nMany governments and their currencies have come and gone over the centuries, while others, such as the US dollar and British pound, have survived for a longer period of time. Bitcoins have no issuing authority, so their durability depends on the network that secures them. While it is still early to draw strong conclusions about the durability of bitcoins, there are signs that the network has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers.\n", - "title": "Which of the following is an important factor in determining the durability of a good store of value" - } - } + "screen": "durability", + "answers": [ + "The network that secures the currency", + "The physical manifestation of the currency", + "The institution that issues the currency" + ], + "feedback": [ + "You got it right. The network that secures the currency is an important factor in determining its durability, especially for digital currencies like bitcoin. Did you know that bitcoin has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers? That's quite impressive for a currency that's still in its early stages", + "Nope, sorry! The physical manifestation of the currency is actually not as important as the institution that issues it or the network that secures it. Don't worry though, you're not alone in making this mistake. Even the Ancient Greeks used to mint their coins out of perishable materials like bronze and copper", + "Close, but not quite! The institution that issues the currency is actually an important factor in determining its durability. But hey, at least you're not alone in this mistake. There have been many governments and currencies that have come and gone over the centuries." + ], + "question": "Which of the following is an important factor in determining the durability of a good store of value", + "text": "The good used as money should not be perishable or easily destroyed. Gold is known for its durability and is often considered the \"king\" in this regard.\n\nA large portion of the gold that has ever been mined or minted, including the gold of the Pharaohs, still exists today and is likely to remain available for many more years. Gold coins that were used as money in ancient times still hold significant value today.\n\nFiat currencies and bitcoins are digital records that may take physical form, such as paper bills. However, it is not the physical manifestation of these currencies that should be considered for their durability, but rather the durability of the institution that issues them.\n\nMany governments and their currencies have come and gone over the centuries, while others, such as the US dollar and British pound, have survived for a longer period of time. Bitcoins have no issuing authority, so their durability depends on the network that secures them. While it is still early to draw strong conclusions about the durability of bitcoins, there are signs that the network has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers.\n", + "title": "Which of the following is an important factor in determining the durability of a good store of value" } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.03-lesson-portability.json b/chapter-202-attributes-of-a-good-store-of-value/202.03-lesson-portability.json index e8c4cca..99fef7c 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.03-lesson-portability.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.03-lesson-portability.json @@ -1,22 +1,18 @@ { "portability": { - "title": "The good must be easy to transport and store", - "questions": { - "portability": { - "answers": [ - "Its physical form", - "Its ability to be easily transported and stored", - "Its ability to facilitate long-distance trade" - ], - "feedback": [ - "You got it right. The physical form of the good is not a factor that makes it portable. In fact, digital currencies like bitcoin are the most portable stores of value because they can be easily stored on a small device and transmitted quickly across long distances. Did you know that private keys representing hundreds of millions of dollars can be stored on a tiny USB drive and easily carried anywhere with bitcoin? That's pretty impressive", - "Sorry, that's incorrect! The ability to be easily transported and stored is actually an important factor that makes a good store of value portable. But don't worry, it's a common mistake. After all, who wouldn't want to carry around a cow as a store of value? It would make for a pretty impressive conversation starter at least", - "Oops, that's not the right answer! The ability to facilitate long-distance trade is actually an important factor that makes a good store of value portable. But hey, at least you're not alone in this mistake. It's easy to see how someone might think that cows are the perfect portable store of value, given their ability to produce milk and beef." - ], - "question": "Which of the following is NOT a factor that makes a good store of value portable", - "text": "\n\"Portability\" refers to how easy it is to move or transport a good from one place to another.\n\nBitcoins are highly portable, allowing for easy storage on a small USB drive and quick transmission across long distances. Similarly, fiat currencies are also digital and therefore portable, but government regulations and capital controls can make large transfers of value difficult or impossible.\n\nOn the other hand, gold, being physical in form and very dense, is the least portable store of value, with the majority of bullion never being transported and the transfer of physical gold being costly, risky, and time-consuming.\n", - "title": "Which of the following is NOT a factor that makes a good store of value portable" - } - } + "screen": "portability", + "answers": [ + "Its physical form", + "Its ability to be easily transported and stored", + "Its ability to facilitate long-distance trade" + ], + "feedback": [ + "You got it right. The physical form of the good is not a factor that makes it portable. In fact, digital currencies like bitcoin are the most portable stores of value because they can be easily stored on a small device and transmitted quickly across long distances. Did you know that private keys representing hundreds of millions of dollars can be stored on a tiny USB drive and easily carried anywhere with bitcoin? That's pretty impressive", + "Sorry, that's incorrect! The ability to be easily transported and stored is actually an important factor that makes a good store of value portable. But don't worry, it's a common mistake. After all, who wouldn't want to carry around a cow as a store of value? It would make for a pretty impressive conversation starter at least", + "Oops, that's not the right answer! The ability to facilitate long-distance trade is actually an important factor that makes a good store of value portable. But hey, at least you're not alone in this mistake. It's easy to see how someone might think that cows are the perfect portable store of value, given their ability to produce milk and beef." + ], + "question": "Which of the following is NOT a factor that makes a good store of value portable", + "text": "\n\"Portability\" refers to how easy it is to move or transport a good from one place to another.\n\nBitcoins are highly portable, allowing for easy storage on a small USB drive and quick transmission across long distances. Similarly, fiat currencies are also digital and therefore portable, but government regulations and capital controls can make large transfers of value difficult or impossible.\n\nOn the other hand, gold, being physical in form and very dense, is the least portable store of value, with the majority of bullion never being transported and the transfer of physical gold being costly, risky, and time-consuming.\n", + "title": "Which of the following is NOT a factor that makes a good store of value portable" } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.04-lesson-fungibility.json b/chapter-202-attributes-of-a-good-store-of-value/202.04-lesson-fungibility.json index 7a89861..472d3e0 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.04-lesson-fungibility.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.04-lesson-fungibility.json @@ -1,22 +1,18 @@ { "fungibility": { - "title": "One specimen should be interchangeable with another of equal quantity", - "questions": { - "fungibility": { - "answers": [ - "The shape and quality of diamonds are irregular", - "Gold is more valuable than diamonds", - "Gold is more abundant than diamonds" - ], - "feedback": [ - "Exactly**!** The irregular shape and quality of diamonds makes them less interchangeable than gold, which is why gold is considered more fungible. Did you also know that bitcoin is considered fungible at the network level, but its traceability on the blockchain can sometimes lead to it being treated as non-fungible by merchants or exchanges", - "Wrong answer! Gold may be more valuable than diamonds, but that's not the main reason it's considered more fungible. Looks like you need to brush up on your fungibility knowledge", - "Nope, sorry! While gold may be more abundant than diamonds, that's not the main reason it's considered more fungible. Better luck next time!" - ], - "question": "What is the main reason that gold is considered more fungible than diamonds", - "text": "\n\"Fungibility\" means that one unit of a currency is interchangeable with another unit of the same currency. This is an important attribute for a good store of value.\n\nGold is a highly fungible store of value, as when melted down, an ounce of gold is essentially indistinguishable from any other. Fiat currencies, on the other hand, may not always be completely fungible, as their issuing institutions may treat different denominations differently.\n\nLike gold, units of bitcoin are fungible, but there are some nuances to it. We'll dive into this in a later chapter.\n", - "title": "What is the main reason that gold is considered more fungible than diamonds" - } - } + "screen": "fungibility", + "answers": [ + "The shape and quality of diamonds are irregular", + "Gold is more valuable than diamonds", + "Gold is more abundant than diamonds" + ], + "feedback": [ + "Exactly**!** The irregular shape and quality of diamonds makes them less interchangeable than gold, which is why gold is considered more fungible. Did you also know that bitcoin is considered fungible at the network level, but its traceability on the blockchain can sometimes lead to it being treated as non-fungible by merchants or exchanges", + "Wrong answer! Gold may be more valuable than diamonds, but that's not the main reason it's considered more fungible. Looks like you need to brush up on your fungibility knowledge", + "Nope, sorry! While gold may be more abundant than diamonds, that's not the main reason it's considered more fungible. Better luck next time!" + ], + "question": "What is the main reason that gold is considered more fungible than diamonds", + "text": "\n\"Fungibility\" means that one unit of a currency is interchangeable with another unit of the same currency. This is an important attribute for a good store of value.\n\nGold is a highly fungible store of value, as when melted down, an ounce of gold is essentially indistinguishable from any other. Fiat currencies, on the other hand, may not always be completely fungible, as their issuing institutions may treat different denominations differently.\n\nLike gold, units of bitcoin are fungible, but there are some nuances to it. We'll dive into this in a later chapter.\n", + "title": "What is the main reason that gold is considered more fungible than diamonds" } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.05-lesson-verifiability.json b/chapter-202-attributes-of-a-good-store-of-value/202.05-lesson-verifiability.json index 03314fd..760ed1b 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.05-lesson-verifiability.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.05-lesson-verifiability.json @@ -1,22 +1,18 @@ { "verifiability": { - "title": "The good must be easy to quickly identify and verify as authentic", - "questions": { - "verifiability": { - "answers": [ - "By using cryptographic signatures", - "By checking for gold-plated tungsten", - "By checking for features on banknotes to prevent counterfeiting" - ], - "feedback": [ - "Congratulations! You are correct. Bitcoin can be verified with mathematical certainty using cryptographic signatures", - "Sorry, but that's not quite right. Better luck next time", - "Wrong! Bitcoin is purely digital and doesn't utilize banknotes. Try again!" - ], - "question": "How can bitcoin be verified", - "text": "It is important for a good store of value to be easily verifiable as authentic. This increases confidence in trade and the likelihood that a transaction will be completed.\n\nBoth fiat currencies and gold are generally easy to verify, but they are not foolproof. Counterfeit bills and gold-plated tungsten have been used to deceive people in the past.\n\nOn the other hand, the use of cryptography makes verification very easy for bitcoin and makes counterfeiting impossible.\n", - "title": "How can bitcoin be verified" - } - } + "screen": "verifiability", + "answers": [ + "By using cryptographic signatures", + "By checking for gold-plated tungsten", + "By checking for features on banknotes to prevent counterfeiting" + ], + "feedback": [ + "Congratulations! You are correct. Bitcoin can be verified with mathematical certainty using cryptographic signatures", + "Sorry, but that's not quite right. Better luck next time", + "Wrong! Bitcoin is purely digital and doesn't utilize banknotes. Try again!" + ], + "question": "How can bitcoin be verified", + "text": "It is important for a good store of value to be easily verifiable as authentic. This increases confidence in trade and the likelihood that a transaction will be completed.\n\nBoth fiat currencies and gold are generally easy to verify, but they are not foolproof. Counterfeit bills and gold-plated tungsten have been used to deceive people in the past.\n\nOn the other hand, the use of cryptography makes verification very easy for bitcoin and makes counterfeiting impossible.\n", + "title": "How can bitcoin be verified" } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.06-lesson-divisibility.json b/chapter-202-attributes-of-a-good-store-of-value/202.06-lesson-divisibility.json index 9ec44c5..48f8f50 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.06-lesson-divisibility.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.06-lesson-divisibility.json @@ -1,22 +1,18 @@ { "divisibility": { - "title": "The good must be easy to subdivide", - "questions": { - "divisibility": { - "answers": [ - "Gold", - "Bitcoin", - "Fiat currency" - ], - "feedback": [ - "You are correct. Gold is difficult divide into small quantities for everyday trade. Did you know that gold has been used as a store of value for thousands of years due to its rarity and durability", - "Sorry, but that's not quite right. Bitcoin is highly divisible into its base unit 'satoshi', and it can even be divided into milli-satoshis (1/1000 of a satoshi) on the Lightning Network", - "Nope**.** While fiat currencies are not as divisible as bitcoin, they are easily divisible into smaller denominations." - ], - "question": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade", - "text": "The ability to divide a good is an important attribute for it to be a good store of value.\n\nImagine you have a $100 bill and want to buy a pack of chewing gum that costs 10 cents. The success of the trade depends on the seller having $99.90 in change available in that moment.\n\nIn societies where trade is prevalent, the ability to divide a good into smaller quantities allows for more precise exchange and can make it easier to use in day-to-day transactions.\n\nBitcoin is particularly useful in this regard, as it can be divided down to a hundred millionth of a unit and transmitted in tiny and exact amounts.\n\nFiat currencies are typically divisible down to pocket change, which has little purchasing power, making fiat divisible enough in practice.\n\nGold, while physically divisible, can be difficult to use in small quantities for everyday trade.\n", - "title": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade" - } - } + "screen": "divisibility", + "answers": [ + "Gold", + "Bitcoin", + "Fiat currency" + ], + "feedback": [ + "You are correct. Gold is difficult divide into small quantities for everyday trade. Did you know that gold has been used as a store of value for thousands of years due to its rarity and durability", + "Sorry, but that's not quite right. Bitcoin is highly divisible into its base unit 'satoshi', and it can even be divided into milli-satoshis (1/1000 of a satoshi) on the Lightning Network", + "Nope**.** While fiat currencies are not as divisible as bitcoin, they are easily divisible into smaller denominations." + ], + "question": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade", + "text": "The ability to divide a good is an important attribute for it to be a good store of value.\n\nImagine you have a $100 bill and want to buy a pack of chewing gum that costs 10 cents. The success of the trade depends on the seller having $99.90 in change available in that moment.\n\nIn societies where trade is prevalent, the ability to divide a good into smaller quantities allows for more precise exchange and can make it easier to use in day-to-day transactions.\n\nBitcoin is particularly useful in this regard, as it can be divided down to a hundred millionth of a unit and transmitted in tiny and exact amounts.\n\nFiat currencies are typically divisible down to pocket change, which has little purchasing power, making fiat divisible enough in practice.\n\nGold, while physically divisible, can be difficult to use in small quantities for everyday trade.\n", + "title": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade" } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.07-lesson-scarce.json b/chapter-202-attributes-of-a-good-store-of-value/202.07-lesson-scarce.json index 8d764f9..4435a7e 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.07-lesson-scarce.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.07-lesson-scarce.json @@ -1,22 +1,18 @@ { "scarce": { - "title": "A monetary good must scarce", - "questions": { - "scarce": { - "answers": [ - "Scarcity", - "Abundance", - "Ease of production" - ], - "feedback": [ - "Congratulations! You are correct. Did you know that there will only ever be a maximum of 21 million bitcoins in circulation, making it a scarce and valuable asset", - "Sorry, but abundance is not the most important attribute for a store of value. Better luck next time", - "Sorry, but ease of production is not the most important attribute for a store of value. Better luck next time!" - ], - "question": "What is the most important attribute of a store of value", - "text": "A good store of value should have a limited supply, or be scarce.\n\nThis is because scarcity can create value, as people often desire rare or hard-to-obtain items. Bitcoin, for instance, is designed to have a maximum of 21 million units, which gives each owner a known percentage of the total possible supply.\n\nIn contrast, the supply of gold can potentially increase through new mining methods, and fiat currencies are often prone to inflation, leading to a decline in value over time.\n", - "title": "What is the most important attribute of a store of value" - } - } + "screen": "scarce", + "answers": [ + "Scarcity", + "Abundance", + "Ease of production" + ], + "feedback": [ + "Congratulations! You are correct. Did you know that there will only ever be a maximum of 21 million bitcoins in circulation, making it a scarce and valuable asset", + "Sorry, but abundance is not the most important attribute for a store of value. Better luck next time", + "Sorry, but ease of production is not the most important attribute for a store of value. Better luck next time!" + ], + "question": "What is the most important attribute of a store of value", + "text": "A good store of value should have a limited supply, or be scarce.\n\nThis is because scarcity can create value, as people often desire rare or hard-to-obtain items. Bitcoin, for instance, is designed to have a maximum of 21 million units, which gives each owner a known percentage of the total possible supply.\n\nIn contrast, the supply of gold can potentially increase through new mining methods, and fiat currencies are often prone to inflation, leading to a decline in value over time.\n", + "title": "What is the most important attribute of a store of value" } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.08-lesson-established-history.json b/chapter-202-attributes-of-a-good-store-of-value/202.08-lesson-established-history.json index 09fd5b7..5cf3046 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.08-lesson-established-history.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.08-lesson-established-history.json @@ -1,22 +1,18 @@ { "establishedHistory": { - "title": "An established history of being valued by society", - "questions": { - "establishedHistory": { - "answers": [ - "The new arrival has a significant advantage over the established good", - "The established good has a longer history of being valued by society", - "The new arrival is cheaper to produce" - ], - "feedback": [ - "You are correct. A long-established store of value is less likely to be displaced by a new arrival unless the new arrival has a significant advantage over the established good", - "Sorry, but this is actually the reason that a long-established store of value is less likely to be displaced. Better luck next time", - "Nope, wrong. Did you not pay attention in the previous lesson on scarcity?" - ], - "question": "What is the main reason that a long-established store of value could be displaced by a new arrival", - "text": "This is because a well-established store of value is less likely to be displaced by a newcomer, unless it has a significant advantage over the established good.\n\nAdditionally, people are creatures of habit and will keep using what they already know.\n\nGold, for example, has a long history of being valued and has maintained its value over time. In contrast, fiat currencies, which are a relatively recent invention, have a tendency to lose value over time due to inflation.\n\nBitcoin, although it has only been around for a short time, has shown resilience in the market and is likely to continue to be valued.\n", - "title": "What is the main reason that a long-established store of value could be displaced by a new arrival" - } - } + "screen": "establishedHistory", + "answers": [ + "The new arrival has a significant advantage over the established good", + "The established good has a longer history of being valued by society", + "The new arrival is cheaper to produce" + ], + "feedback": [ + "You are correct. A long-established store of value is less likely to be displaced by a new arrival unless the new arrival has a significant advantage over the established good", + "Sorry, but this is actually the reason that a long-established store of value is less likely to be displaced. Better luck next time", + "Nope, wrong. Did you not pay attention in the previous lesson on scarcity?" + ], + "question": "What is the main reason that a long-established store of value could be displaced by a new arrival", + "text": "This is because a well-established store of value is less likely to be displaced by a newcomer, unless it has a significant advantage over the established good.\n\nAdditionally, people are creatures of habit and will keep using what they already know.\n\nGold, for example, has a long history of being valued and has maintained its value over time. In contrast, fiat currencies, which are a relatively recent invention, have a tendency to lose value over time due to inflation.\n\nBitcoin, although it has only been around for a short time, has shown resilience in the market and is likely to continue to be valued.\n", + "title": "What is the main reason that a long-established store of value could be displaced by a new arrival" } } diff --git a/chapter-202-attributes-of-a-good-store-of-value/202.09-lesson-censorship-resistance.json b/chapter-202-attributes-of-a-good-store-of-value/202.09-lesson-censorship-resistance.json index 9e209cb..286869b 100644 --- a/chapter-202-attributes-of-a-good-store-of-value/202.09-lesson-censorship-resistance.json +++ b/chapter-202-attributes-of-a-good-store-of-value/202.09-lesson-censorship-resistance.json @@ -1,22 +1,18 @@ { "censorshipResistance": { - "title": "No permission required", - "questions": { - "censorshipResistance": { - "answers": [ - "Its decentralized, peer-to-peer network", - "Its physical nature", - "Its regulation by states" - ], - "feedback": [ - "You are correct. The decentralized, peer-to-peer network of Bitcoin allows for transactions to be made without permission, making it a censorship-resistant good", - "No. In fact, physical goods often require permission to cross borders and can easily be confiscated. Better luck next time", - "Sorry, but the opposite is actually true. The fiat banking system, which is regulated by states, requires human intervention to report and prevent certain uses of monetary goods, making it prone to censorship. Try again!" - ], - "question": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good", - "text": "Censorship-resistance is an attribute that has become increasingly important in the digital age, as it refers to the difficulty that external parties, such as corporations or governments, have in preventing an individual from using a particular good.\n\nThis attribute is particularly valuable for individuals living under regimes that enforce capital controls or prohibit certain forms of trade. Bitcoin is often cited as being a censorship-resistant good due to its decentralized, peer-to-peer network, which allows for transactions to be made without human intervention or permission.\n\nIn contrast, the fiat banking system is regulated by states and requires human intervention to report and prevent certain uses of monetary goods, such as capital controls.\n\nGold, although it is not issued by states, can be difficult to transmit at a distance and is therefore more subject to state regulation.\n", - "title": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good" - } - } + "screen": "censorshipResistance", + "answers": [ + "Its decentralized, peer-to-peer network", + "Its physical nature", + "Its regulation by states" + ], + "feedback": [ + "You are correct. The decentralized, peer-to-peer network of Bitcoin allows for transactions to be made without permission, making it a censorship-resistant good", + "No. In fact, physical goods often require permission to cross borders and can easily be confiscated. Better luck next time", + "Sorry, but the opposite is actually true. The fiat banking system, which is regulated by states, requires human intervention to report and prevent certain uses of monetary goods, making it prone to censorship. Try again!" + ], + "question": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good", + "text": "Censorship-resistance is an attribute that has become increasingly important in the digital age, as it refers to the difficulty that external parties, such as corporations or governments, have in preventing an individual from using a particular good.\n\nThis attribute is particularly valuable for individuals living under regimes that enforce capital controls or prohibit certain forms of trade. Bitcoin is often cited as being a censorship-resistant good due to its decentralized, peer-to-peer network, which allows for transactions to be made without human intervention or permission.\n\nIn contrast, the fiat banking system is regulated by states and requires human intervention to report and prevent certain uses of monetary goods, such as capital controls.\n\nGold, although it is not issued by states, can be difficult to transmit at a distance and is therefore more subject to state regulation.\n", + "title": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good" } } diff --git a/chapter-203-the-evolution-of-money-i/203-combined.json b/chapter-203-the-evolution-of-money-i/203-combined.json index bb7b8f9..03a8abf 100644 --- a/chapter-203-the-evolution-of-money-i/203-combined.json +++ b/chapter-203-the-evolution-of-money-i/203-combined.json @@ -1,156 +1,112 @@ -[ - { - "evolutionMoney": { - "title": "The Evolution of Money", - "questions": { - "evolutionMoney": { - "answers": [ - "The use of money as a way to exchange goods and services", - "The history of money's development", - "The exclusive power of governments to create money" - ], - "feedback": [ - "Congrats, you got it right! It's interesting to note that the use of money as a medium of exchange has become more important in modern times due to the rise of electronic payment methods", - "Wrong! But it's good that you're interested in the history of money. Try again", - "Sorry, that's incorrect. It's true that governments do have a lot of control over the creation and issuance of money, but that's not the main focus of modern monetary economics. Try again!" - ], - "question": "What is the main focus of modern monetary economics", - "text": "In modern times, many people in the field of monetary economics focus on the idea that money is mainly used as a way to exchange goods and services.\n\nIn the past century, however, governments have had the exclusive power to create money and have often made it difficult for money to hold its value. This lead people to believe that the main purpose of money is to be used for exchange.\n\nSome have argued that Bitcoin is not a good form of money because its value tends to change too much to be used effectively in transactions.\n\nHowever, this way of thinking is backwards. Throughout history, the use of money has developed in stages, with its value as a store of value coming before its use as a medium of exchange.\n", - "title": "What is the main focus of modern monetary economics" - } - } - } - }, - { - "collectible": { - "title": "Four Stages of Money: Collectible", - "questions": { - "collectible": { - "answers": [ - "Coins made of copper and silver", - "Shells, beads, and gold", - "Paper bills with pictures of famous leaders" - ], - "feedback": [ - "Sorry, that's incorrect. Copper and silver coins were not used as money in the very beginning of its evolution", - "Congratulations, you got it right! It's interesting to note that shells, beads, and gold were all valued for their appearance or special qualities before becoming widely used as money", - "Wrong! But at least you're thinking about the more modern forms of money. Paper bills with pictures of famous leaders were not used in the very beginning of money's evolution." - ], - "question": "What were some examples of early forms of money that were valued for their appearance or special qualities", - "text": "Throughout history, money has gone through four stages of development. In the very beginning, people only wanted money because of its special qualities, and it was mostly seen as a decorative item or a collectible.;\n\nExamples of this include shells, beads, and gold, which were all collectibles before becoming widely used as money.\n", - "title": "What were some examples of early forms of money that were valued for their appearance or special qualities" - } - } - } - }, - { - "storeOfValue": { - "title": "Four Stages of Money: Store of Value", - "questions": { - "storeOfValue": { - "answers": [ - "The number of people who want it as a store of value", - "The weather", - "The color of the store of value" - ], - "feedback": [ - "Nice work! The purchasing power of a store of value is determined by the number of people who want to use it as a way to store value. As more people want to use it for this purpose, the value of the store of value increases", - "Sorry, the weather is definitely a factor in many things, but it's not quite the right answer for this question. Maybe try looking at other factors that could affect the value of a store of value", - "I'm sorry to say that the color of a store of value probably doesn't have much of an effect on its purchasing power. It's definitely an interesting idea though! Maybe try considering other characteristics that could affect the value of a store of value." - ], - "question": "What determines the purchasing power of a store of value", - "text": "The store of value is the second stage of money's evolution. When enough people want money because of its special qualities, it becomes a way to keep and save value over time, to transport hard earned wealth into the future.\n\nAs more people recognize a good as a good way to store value, the good's value increases as more people want it for this purpose.\n\nEventually, the value of a store of value will stop increasing as it becomes widely held and fewer new people want it as a store of value.\n", - "title": "What determines the purchasing power of a store of value" - } - } - } - }, - { - "mediumOfExchange": { - "title": "Four Stages of Money: Medium of Exchange", - "questions": { - "mediumOfExchange": { - "answers": [ - "The first time bitcoin had market value", - "The invention of pineapple as a pizza topping", - "again" - ], - "feedback": [ - "You got it right. Bitcoin Pizza Day is celebrated to mark the first time that bitcoin had market value, which was when Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. It's an important event in the evolution of bitcoin", - "While pineapple is a beautiful fruit, it has no place on a real pizza! Apart from this side note, your answer is wrong. Try again", - "Sorry, the best pizza recipe is a matter of personal preference. While pizza is always delicious, it's not the focus of Bitcoin Pizza Day. Maybe try considering the significance of the event in the history of bitcoin." - ], - "question": "What is Bitcoin Pizza Day celebrated for", - "text": "When money is used to store value, its value becomes stable eventually. And when the value of money is stable, it becomes the best option to facilitate trade as it's easy to use and doesn't have the coordination burden of barter.\n\nIn the early days of Bitcoin in 2010, some people did not recognize the opportunity cost to use Bitcoin as a medium of exchange rather than a nascent store of value.\n\nThere is a famous story about Laszlo Hanyecz who traded 10,000 bitcoins (which were worth about $165 million at the time of this writing) for just two pizzas. When Laszlo acquired those pizzas, it marked the first time that bitcoin had market value.\n\nToday, Laszlo's pizza is celebrated globally on May 22 as Bitcoin Pizza Day as an important step and milestone in the evolution of bitcoin as money.\n", - "title": "What is Bitcoin Pizza Day celebrated for" - } - } - } - }, - { - "unitOfAccount": { - "title": "Four Stages of Money: Unit of Account", - "questions": { - "unitOfAccount": { - "answers": [ - "When merchants are willing to accept it as payment without considering the exchange rate with other currencies", - "When it is used to buy ice cream", - "When it is used to play games with friends" - ], - "feedback": [ - "Congrats! For bitcoin to be considered a unit of account, it needs to be widely accepted as a form of payment without regard to its exchange rate with other currencies. This means that merchants would be willing to accept it as payment without considering the value of bitcoin in terms of other currencie", - "I'm sorry, but while ice cream is delicious, it's not quite the right answer. Maybe try considering other factors that could affect the acceptance of bitcoin as a unit of account", - "Playing games with friends is always fun, but unfortunately it's not the correct answer. Maybe try thinking about what it would take for bitcoin to be widely accepted as a form of payment.\"" - ], - "question": "How can bitcoin be considered a unit of account", - "text": "When money is commonly used for trading, goods are priced in terms of it. This means that most goods can be exchanged for money at a certain rate.\n\nIt is not accurate to say that many goods can be bought with bitcoin today. For example, while a cup of coffee might be available for purchase using bitcoin, the price listed is not the true value of bitcoin. Instead, it is the dollar price that the merchant wants, converted into bitcoin based on the current exchange rate between dollars and bitcoin.\n\nIf the value of bitcoin goes down in terms of dollars, the merchant will ask for more bitcoin to equal the same dollar amount.\n\nBitcoin can only be considered a unit of account (a standard way to measure the value of goods) when merchants are willing to accept it for payment without considering the exchange rate with other currencies.\n", - "title": "How can bitcoin be considered a unit of account" - } - } - } - }, - { - "partlyMonetized": { - "title": "Partial Monetization", - "questions": { - "partlyMonetized": { - "answers": [ - "A good that is not yet widely used as a unit of account", - "A currency that is only accepted in certain countries", - "A good that is used as a medium of exchange but not for storing value or measuring the value of goods" - ], - "feedback": [ - "Congratulations! You've chosen the correct answer. A partly monetized good is one that is not yet widely accepted as a unit of account, which means it is not commonly used as a standard way to measure the value of other goods. This can include goods like gold, which is often used to store value but not typically used for everyday transactions", - "That's a creative answer, but unfortunately not quite right. Better luck next time", - "Not quite correct, but close! Keep thinking." - ], - "question": "What is the meaning of the term \"partly monetized\"", - "text": "Goods that are not widely accepted as a unit of account may be considered \"partly monetized\" because they are used for some purposes related to money, but not all.\n\nGold is an example of a partly monetized good that is used to store value but is not widely used as a medium of exchange or unit of account. In some countries, different goods may be used for different purposes related to money, such as one good being used as a medium of exchange and another being used as a store of value or unit of account.\n\nThe dollar is an example of a good that is widely used for all three purposes of money in the United States, while the peso was an example of a good that was used as a medium of exchange in Argentina but was not a good store of value because of its volatility and regular loss of purchasing power.\n", - "title": "What is the meaning of the term \"partly monetized\"" - } - } - } - }, - { - "monetizationStage": { - "title": "Bitcoin is in the stage of monetization", - "questions": { - "monetizationStage": { - "answers": [ - "It is in the process of becoming more widely accepted as money", - "It is currently being used as a way to trade goods and services, like other currencies.", - "It has already completed the process of becoming more widely accepted as money and is now being used as a form of currency." - ], - "feedback": [ - "Bingo! You're right on the money (pun intended) with this answer. Did you know that the process of Bitcoin becoming more widely accepted as money is similar to the process gold went through to become a widely accepted form of currency", - "Ha! You must have missed the part about it taking several years for Bitcoin to reach this stage. Keep reading", - "Sorry to break it to you, but Bitcoin is still in the process of becoming more widely accepted as money. Better luck next time!" - ], - "question": "What is the current stage of Bitcoin's evolution", - "text": "Bitcoin is currently changing from the first stage of being used as money to the second stage. It may take several years for Bitcoin to be used as a way to trade goods and services, like other currencies.\n\nThe process of Bitcoin becoming more widely accepted as money is uncertain, as the same process took a long time for gold and no one alive has seen a good become money in the same way that is happening with Bitcoin. There is not a lot of experience with this process, but developments around the world are very promising and happening faster in the interconnected digital age.\n", - "title": "What is the current stage of Bitcoin's evolution" - } +{ + "TheEvolutionofMoneyI": { + "title": "The Evolution of Money I", + "questions": { + "evolutionMoney": { + "answers": [ + "The use of money as a way to exchange goods and services", + "The history of money's development", + "The exclusive power of governments to create money" + ], + "feedback": [ + "Congrats, you got it right! It's interesting to note that the use of money as a medium of exchange has become more important in modern times due to the rise of electronic payment methods", + "Wrong! But it's good that you're interested in the history of money. Try again", + "Sorry, that's incorrect. It's true that governments do have a lot of control over the creation and issuance of money, but that's not the main focus of modern monetary economics. Try again!" + ], + "question": "What is the main focus of modern monetary economics", + "text": "In modern times, many people in the field of monetary economics focus on the idea that money is mainly used as a way to exchange goods and services.\n\nIn the past century, however, governments have had the exclusive power to create money and have often made it difficult for money to hold its value. This lead people to believe that the main purpose of money is to be used for exchange.\n\nSome have argued that Bitcoin is not a good form of money because its value tends to change too much to be used effectively in transactions.\n\nHowever, this way of thinking is backwards. Throughout history, the use of money has developed in stages, with its value as a store of value coming before its use as a medium of exchange.\n", + "title": "What is the main focus of modern monetary economics" + }, + "collectible": { + "answers": [ + "Coins made of copper and silver", + "Shells, beads, and gold", + "Paper bills with pictures of famous leaders" + ], + "feedback": [ + "Sorry, that's incorrect. Copper and silver coins were not used as money in the very beginning of its evolution", + "Congratulations, you got it right! It's interesting to note that shells, beads, and gold were all valued for their appearance or special qualities before becoming widely used as money", + "Wrong! But at least you're thinking about the more modern forms of money. Paper bills with pictures of famous leaders were not used in the very beginning of money's evolution." + ], + "question": "What were some examples of early forms of money that were valued for their appearance or special qualities", + "text": "Throughout history, money has gone through four stages of development. In the very beginning, people only wanted money because of its special qualities, and it was mostly seen as a decorative item or a collectible.;\n\nExamples of this include shells, beads, and gold, which were all collectibles before becoming widely used as money.\n", + "title": "What were some examples of early forms of money that were valued for their appearance or special qualities" + }, + "storeOfValue": { + "answers": [ + "The number of people who want it as a store of value", + "The weather", + "The color of the store of value" + ], + "feedback": [ + "Nice work! The purchasing power of a store of value is determined by the number of people who want to use it as a way to store value. As more people want to use it for this purpose, the value of the store of value increases", + "Sorry, the weather is definitely a factor in many things, but it's not quite the right answer for this question. Maybe try looking at other factors that could affect the value of a store of value", + "I'm sorry to say that the color of a store of value probably doesn't have much of an effect on its purchasing power. It's definitely an interesting idea though! Maybe try considering other characteristics that could affect the value of a store of value." + ], + "question": "What determines the purchasing power of a store of value", + "text": "The store of value is the second stage of money's evolution. When enough people want money because of its special qualities, it becomes a way to keep and save value over time, to transport hard earned wealth into the future.\n\nAs more people recognize a good as a good way to store value, the good's value increases as more people want it for this purpose.\n\nEventually, the value of a store of value will stop increasing as it becomes widely held and fewer new people want it as a store of value.\n", + "title": "What determines the purchasing power of a store of value" + }, + "mediumOfExchange": { + "answers": [ + "The first time bitcoin had market value", + "The invention of pineapple as a pizza topping", + "again" + ], + "feedback": [ + "You got it right. Bitcoin Pizza Day is celebrated to mark the first time that bitcoin had market value, which was when Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. It's an important event in the evolution of bitcoin", + "While pineapple is a beautiful fruit, it has no place on a real pizza! Apart from this side note, your answer is wrong. Try again", + "Sorry, the best pizza recipe is a matter of personal preference. While pizza is always delicious, it's not the focus of Bitcoin Pizza Day. Maybe try considering the significance of the event in the history of bitcoin." + ], + "question": "What is Bitcoin Pizza Day celebrated for", + "text": "When money is used to store value, its value becomes stable eventually. And when the value of money is stable, it becomes the best option to facilitate trade as it's easy to use and doesn't have the coordination burden of barter.\n\nIn the early days of Bitcoin in 2010, some people did not recognize the opportunity cost to use Bitcoin as a medium of exchange rather than a nascent store of value.\n\nThere is a famous story about Laszlo Hanyecz who traded 10,000 bitcoins (which were worth about $165 million at the time of this writing) for just two pizzas. When Laszlo acquired those pizzas, it marked the first time that bitcoin had market value.\n\nToday, Laszlo's pizza is celebrated globally on May 22 as Bitcoin Pizza Day as an important step and milestone in the evolution of bitcoin as money.\n", + "title": "What is Bitcoin Pizza Day celebrated for" + }, + "unitOfAccount": { + "answers": [ + "When merchants are willing to accept it as payment without considering the exchange rate with other currencies", + "When it is used to buy ice cream", + "When it is used to play games with friends" + ], + "feedback": [ + "Congrats! For bitcoin to be considered a unit of account, it needs to be widely accepted as a form of payment without regard to its exchange rate with other currencies. This means that merchants would be willing to accept it as payment without considering the value of bitcoin in terms of other currencie", + "I'm sorry, but while ice cream is delicious, it's not quite the right answer. Maybe try considering other factors that could affect the acceptance of bitcoin as a unit of account", + "Playing games with friends is always fun, but unfortunately it's not the correct answer. Maybe try thinking about what it would take for bitcoin to be widely accepted as a form of payment.\"" + ], + "question": "How can bitcoin be considered a unit of account", + "text": "When money is commonly used for trading, goods are priced in terms of it. This means that most goods can be exchanged for money at a certain rate.\n\nIt is not accurate to say that many goods can be bought with bitcoin today. For example, while a cup of coffee might be available for purchase using bitcoin, the price listed is not the true value of bitcoin. Instead, it is the dollar price that the merchant wants, converted into bitcoin based on the current exchange rate between dollars and bitcoin.\n\nIf the value of bitcoin goes down in terms of dollars, the merchant will ask for more bitcoin to equal the same dollar amount.\n\nBitcoin can only be considered a unit of account (a standard way to measure the value of goods) when merchants are willing to accept it for payment without considering the exchange rate with other currencies.\n", + "title": "How can bitcoin be considered a unit of account" + }, + "partlyMonetized": { + "answers": [ + "A good that is not yet widely used as a unit of account", + "A currency that is only accepted in certain countries", + "A good that is used as a medium of exchange but not for storing value or measuring the value of goods" + ], + "feedback": [ + "Congratulations! You've chosen the correct answer. A partly monetized good is one that is not yet widely accepted as a unit of account, which means it is not commonly used as a standard way to measure the value of other goods. This can include goods like gold, which is often used to store value but not typically used for everyday transactions", + "That's a creative answer, but unfortunately not quite right. Better luck next time", + "Not quite correct, but close! Keep thinking." + ], + "question": "What is the meaning of the term \"partly monetized\"", + "text": "Goods that are not widely accepted as a unit of account may be considered \"partly monetized\" because they are used for some purposes related to money, but not all.\n\nGold is an example of a partly monetized good that is used to store value but is not widely used as a medium of exchange or unit of account. In some countries, different goods may be used for different purposes related to money, such as one good being used as a medium of exchange and another being used as a store of value or unit of account.\n\nThe dollar is an example of a good that is widely used for all three purposes of money in the United States, while the peso was an example of a good that was used as a medium of exchange in Argentina but was not a good store of value because of its volatility and regular loss of purchasing power.\n", + "title": "What is the meaning of the term \"partly monetized\"" + }, + "monetizationStage": { + "answers": [ + "It is in the process of becoming more widely accepted as money", + "It is currently being used as a way to trade goods and services, like other currencies.", + "It has already completed the process of becoming more widely accepted as money and is now being used as a form of currency." + ], + "feedback": [ + "Bingo! You're right on the money (pun intended) with this answer. Did you know that the process of Bitcoin becoming more widely accepted as money is similar to the process gold went through to become a widely accepted form of currency", + "Ha! You must have missed the part about it taking several years for Bitcoin to reach this stage. Keep reading", + "Sorry to break it to you, but Bitcoin is still in the process of becoming more widely accepted as money. Better luck next time!" + ], + "question": "What is the current stage of Bitcoin's evolution", + "text": "Bitcoin is currently changing from the first stage of being used as money to the second stage. It may take several years for Bitcoin to be used as a way to trade goods and services, like other currencies.\n\nThe process of Bitcoin becoming more widely accepted as money is uncertain, as the same process took a long time for gold and no one alive has seen a good become money in the same way that is happening with Bitcoin. There is not a lot of experience with this process, but developments around the world are very promising and happening faster in the interconnected digital age.\n", + "title": "What is the current stage of Bitcoin's evolution" } } } -] +} diff --git a/chapter-203-the-evolution-of-money-i/203.01-lesson-evolution-money.json b/chapter-203-the-evolution-of-money-i/203.01-lesson-evolution-money.json index 30a53ee..66645fa 100755 --- a/chapter-203-the-evolution-of-money-i/203.01-lesson-evolution-money.json +++ b/chapter-203-the-evolution-of-money-i/203.01-lesson-evolution-money.json @@ -1,22 +1,18 @@ { "evolutionMoney": { - "title": "The Evolution of Money", - "questions": { - "evolutionMoney": { - "answers": [ - "The use of money as a way to exchange goods and services", - "The history of money's development", - "The exclusive power of governments to create money" - ], - "feedback": [ - "Congrats, you got it right! It's interesting to note that the use of money as a medium of exchange has become more important in modern times due to the rise of electronic payment methods", - "Wrong! But it's good that you're interested in the history of money. Try again", - "Sorry, that's incorrect. It's true that governments do have a lot of control over the creation and issuance of money, but that's not the main focus of modern monetary economics. Try again!" - ], - "question": "What is the main focus of modern monetary economics", - "text": "In modern times, many people in the field of monetary economics focus on the idea that money is mainly used as a way to exchange goods and services.\n\nIn the past century, however, governments have had the exclusive power to create money and have often made it difficult for money to hold its value. This lead people to believe that the main purpose of money is to be used for exchange.\n\nSome have argued that Bitcoin is not a good form of money because its value tends to change too much to be used effectively in transactions.\n\nHowever, this way of thinking is backwards. Throughout history, the use of money has developed in stages, with its value as a store of value coming before its use as a medium of exchange.\n", - "title": "What is the main focus of modern monetary economics" - } - } + "screen": "evolutionMoney", + "answers": [ + "The use of money as a way to exchange goods and services", + "The history of money's development", + "The exclusive power of governments to create money" + ], + "feedback": [ + "Congrats, you got it right! It's interesting to note that the use of money as a medium of exchange has become more important in modern times due to the rise of electronic payment methods", + "Wrong! But it's good that you're interested in the history of money. Try again", + "Sorry, that's incorrect. It's true that governments do have a lot of control over the creation and issuance of money, but that's not the main focus of modern monetary economics. Try again!" + ], + "question": "What is the main focus of modern monetary economics", + "text": "In modern times, many people in the field of monetary economics focus on the idea that money is mainly used as a way to exchange goods and services.\n\nIn the past century, however, governments have had the exclusive power to create money and have often made it difficult for money to hold its value. This lead people to believe that the main purpose of money is to be used for exchange.\n\nSome have argued that Bitcoin is not a good form of money because its value tends to change too much to be used effectively in transactions.\n\nHowever, this way of thinking is backwards. Throughout history, the use of money has developed in stages, with its value as a store of value coming before its use as a medium of exchange.\n", + "title": "What is the main focus of modern monetary economics" } } diff --git a/chapter-203-the-evolution-of-money-i/203.02-lesson-collectible.json b/chapter-203-the-evolution-of-money-i/203.02-lesson-collectible.json index 70e76cc..17f21b8 100644 --- a/chapter-203-the-evolution-of-money-i/203.02-lesson-collectible.json +++ b/chapter-203-the-evolution-of-money-i/203.02-lesson-collectible.json @@ -1,22 +1,18 @@ { "collectible": { - "title": "Four Stages of Money: Collectible", - "questions": { - "collectible": { - "answers": [ - "Coins made of copper and silver", - "Shells, beads, and gold", - "Paper bills with pictures of famous leaders" - ], - "feedback": [ - "Sorry, that's incorrect. Copper and silver coins were not used as money in the very beginning of its evolution", - "Congratulations, you got it right! It's interesting to note that shells, beads, and gold were all valued for their appearance or special qualities before becoming widely used as money", - "Wrong! But at least you're thinking about the more modern forms of money. Paper bills with pictures of famous leaders were not used in the very beginning of money's evolution." - ], - "question": "What were some examples of early forms of money that were valued for their appearance or special qualities", - "text": "Throughout history, money has gone through four stages of development. In the very beginning, people only wanted money because of its special qualities, and it was mostly seen as a decorative item or a collectible.;\n\nExamples of this include shells, beads, and gold, which were all collectibles before becoming widely used as money.\n", - "title": "What were some examples of early forms of money that were valued for their appearance or special qualities" - } - } + "screen": "collectible", + "answers": [ + "Coins made of copper and silver", + "Shells, beads, and gold", + "Paper bills with pictures of famous leaders" + ], + "feedback": [ + "Sorry, that's incorrect. Copper and silver coins were not used as money in the very beginning of its evolution", + "Congratulations, you got it right! It's interesting to note that shells, beads, and gold were all valued for their appearance or special qualities before becoming widely used as money", + "Wrong! But at least you're thinking about the more modern forms of money. Paper bills with pictures of famous leaders were not used in the very beginning of money's evolution." + ], + "question": "What were some examples of early forms of money that were valued for their appearance or special qualities", + "text": "Throughout history, money has gone through four stages of development. In the very beginning, people only wanted money because of its special qualities, and it was mostly seen as a decorative item or a collectible.;\n\nExamples of this include shells, beads, and gold, which were all collectibles before becoming widely used as money.\n", + "title": "What were some examples of early forms of money that were valued for their appearance or special qualities" } } diff --git a/chapter-203-the-evolution-of-money-i/203.03-lesson-store-of-value.json b/chapter-203-the-evolution-of-money-i/203.03-lesson-store-of-value.json index 5200cd8..87d5028 100644 --- a/chapter-203-the-evolution-of-money-i/203.03-lesson-store-of-value.json +++ b/chapter-203-the-evolution-of-money-i/203.03-lesson-store-of-value.json @@ -1,22 +1,18 @@ { "storeOfValue": { - "title": "Four Stages of Money: Store of Value", - "questions": { - "storeOfValue": { - "answers": [ - "The number of people who want it as a store of value", - "The weather", - "The color of the store of value" - ], - "feedback": [ - "Nice work! The purchasing power of a store of value is determined by the number of people who want to use it as a way to store value. As more people want to use it for this purpose, the value of the store of value increases", - "Sorry, the weather is definitely a factor in many things, but it's not quite the right answer for this question. Maybe try looking at other factors that could affect the value of a store of value", - "I'm sorry to say that the color of a store of value probably doesn't have much of an effect on its purchasing power. It's definitely an interesting idea though! Maybe try considering other characteristics that could affect the value of a store of value." - ], - "question": "What determines the purchasing power of a store of value", - "text": "The store of value is the second stage of money's evolution. When enough people want money because of its special qualities, it becomes a way to keep and save value over time, to transport hard earned wealth into the future.\n\nAs more people recognize a good as a good way to store value, the good's value increases as more people want it for this purpose.\n\nEventually, the value of a store of value will stop increasing as it becomes widely held and fewer new people want it as a store of value.\n", - "title": "What determines the purchasing power of a store of value" - } - } + "screen": "storeOfValue", + "answers": [ + "The number of people who want it as a store of value", + "The weather", + "The color of the store of value" + ], + "feedback": [ + "Nice work! The purchasing power of a store of value is determined by the number of people who want to use it as a way to store value. As more people want to use it for this purpose, the value of the store of value increases", + "Sorry, the weather is definitely a factor in many things, but it's not quite the right answer for this question. Maybe try looking at other factors that could affect the value of a store of value", + "I'm sorry to say that the color of a store of value probably doesn't have much of an effect on its purchasing power. It's definitely an interesting idea though! Maybe try considering other characteristics that could affect the value of a store of value." + ], + "question": "What determines the purchasing power of a store of value", + "text": "The store of value is the second stage of money's evolution. When enough people want money because of its special qualities, it becomes a way to keep and save value over time, to transport hard earned wealth into the future.\n\nAs more people recognize a good as a good way to store value, the good's value increases as more people want it for this purpose.\n\nEventually, the value of a store of value will stop increasing as it becomes widely held and fewer new people want it as a store of value.\n", + "title": "What determines the purchasing power of a store of value" } } diff --git a/chapter-203-the-evolution-of-money-i/203.04-lesson-medium-of-exchange.json b/chapter-203-the-evolution-of-money-i/203.04-lesson-medium-of-exchange.json index 2d7b232..841c723 100644 --- a/chapter-203-the-evolution-of-money-i/203.04-lesson-medium-of-exchange.json +++ b/chapter-203-the-evolution-of-money-i/203.04-lesson-medium-of-exchange.json @@ -1,22 +1,18 @@ { "mediumOfExchange": { - "title": "Four Stages of Money: Medium of Exchange", - "questions": { - "mediumOfExchange": { - "answers": [ - "The first time bitcoin had market value", - "The invention of pineapple as a pizza topping", - "again" - ], - "feedback": [ - "You got it right. Bitcoin Pizza Day is celebrated to mark the first time that bitcoin had market value, which was when Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. It's an important event in the evolution of bitcoin", - "While pineapple is a beautiful fruit, it has no place on a real pizza! Apart from this side note, your answer is wrong. Try again", - "Sorry, the best pizza recipe is a matter of personal preference. While pizza is always delicious, it's not the focus of Bitcoin Pizza Day. Maybe try considering the significance of the event in the history of bitcoin." - ], - "question": "What is Bitcoin Pizza Day celebrated for", - "text": "When money is used to store value, its value becomes stable eventually. And when the value of money is stable, it becomes the best option to facilitate trade as it's easy to use and doesn't have the coordination burden of barter.\n\nIn the early days of Bitcoin in 2010, some people did not recognize the opportunity cost to use Bitcoin as a medium of exchange rather than a nascent store of value.\n\nThere is a famous story about Laszlo Hanyecz who traded 10,000 bitcoins (which were worth about $165 million at the time of this writing) for just two pizzas. When Laszlo acquired those pizzas, it marked the first time that bitcoin had market value.\n\nToday, Laszlo's pizza is celebrated globally on May 22 as Bitcoin Pizza Day as an important step and milestone in the evolution of bitcoin as money.\n", - "title": "What is Bitcoin Pizza Day celebrated for" - } - } + "screen": "mediumOfExchange", + "answers": [ + "The first time bitcoin had market value", + "The invention of pineapple as a pizza topping", + "again" + ], + "feedback": [ + "You got it right. Bitcoin Pizza Day is celebrated to mark the first time that bitcoin had market value, which was when Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. It's an important event in the evolution of bitcoin", + "While pineapple is a beautiful fruit, it has no place on a real pizza! Apart from this side note, your answer is wrong. Try again", + "Sorry, the best pizza recipe is a matter of personal preference. While pizza is always delicious, it's not the focus of Bitcoin Pizza Day. Maybe try considering the significance of the event in the history of bitcoin." + ], + "question": "What is Bitcoin Pizza Day celebrated for", + "text": "When money is used to store value, its value becomes stable eventually. And when the value of money is stable, it becomes the best option to facilitate trade as it's easy to use and doesn't have the coordination burden of barter.\n\nIn the early days of Bitcoin in 2010, some people did not recognize the opportunity cost to use Bitcoin as a medium of exchange rather than a nascent store of value.\n\nThere is a famous story about Laszlo Hanyecz who traded 10,000 bitcoins (which were worth about $165 million at the time of this writing) for just two pizzas. When Laszlo acquired those pizzas, it marked the first time that bitcoin had market value.\n\nToday, Laszlo's pizza is celebrated globally on May 22 as Bitcoin Pizza Day as an important step and milestone in the evolution of bitcoin as money.\n", + "title": "What is Bitcoin Pizza Day celebrated for" } } diff --git a/chapter-203-the-evolution-of-money-i/203.05-lesson-unit-of-account.json b/chapter-203-the-evolution-of-money-i/203.05-lesson-unit-of-account.json index 995c17a..cfda81e 100644 --- a/chapter-203-the-evolution-of-money-i/203.05-lesson-unit-of-account.json +++ b/chapter-203-the-evolution-of-money-i/203.05-lesson-unit-of-account.json @@ -1,22 +1,18 @@ { "unitOfAccount": { - "title": "Four Stages of Money: Unit of Account", - "questions": { - "unitOfAccount": { - "answers": [ - "When merchants are willing to accept it as payment without considering the exchange rate with other currencies", - "When it is used to buy ice cream", - "When it is used to play games with friends" - ], - "feedback": [ - "Congrats! For bitcoin to be considered a unit of account, it needs to be widely accepted as a form of payment without regard to its exchange rate with other currencies. This means that merchants would be willing to accept it as payment without considering the value of bitcoin in terms of other currencie", - "I'm sorry, but while ice cream is delicious, it's not quite the right answer. Maybe try considering other factors that could affect the acceptance of bitcoin as a unit of account", - "Playing games with friends is always fun, but unfortunately it's not the correct answer. Maybe try thinking about what it would take for bitcoin to be widely accepted as a form of payment.\"" - ], - "question": "How can bitcoin be considered a unit of account", - "text": "When money is commonly used for trading, goods are priced in terms of it. This means that most goods can be exchanged for money at a certain rate.\n\nIt is not accurate to say that many goods can be bought with bitcoin today. For example, while a cup of coffee might be available for purchase using bitcoin, the price listed is not the true value of bitcoin. Instead, it is the dollar price that the merchant wants, converted into bitcoin based on the current exchange rate between dollars and bitcoin.\n\nIf the value of bitcoin goes down in terms of dollars, the merchant will ask for more bitcoin to equal the same dollar amount.\n\nBitcoin can only be considered a unit of account (a standard way to measure the value of goods) when merchants are willing to accept it for payment without considering the exchange rate with other currencies.\n", - "title": "How can bitcoin be considered a unit of account" - } - } + "screen": "unitOfAccount", + "answers": [ + "When merchants are willing to accept it as payment without considering the exchange rate with other currencies", + "When it is used to buy ice cream", + "When it is used to play games with friends" + ], + "feedback": [ + "Congrats! For bitcoin to be considered a unit of account, it needs to be widely accepted as a form of payment without regard to its exchange rate with other currencies. This means that merchants would be willing to accept it as payment without considering the value of bitcoin in terms of other currencie", + "I'm sorry, but while ice cream is delicious, it's not quite the right answer. Maybe try considering other factors that could affect the acceptance of bitcoin as a unit of account", + "Playing games with friends is always fun, but unfortunately it's not the correct answer. Maybe try thinking about what it would take for bitcoin to be widely accepted as a form of payment.\"" + ], + "question": "How can bitcoin be considered a unit of account", + "text": "When money is commonly used for trading, goods are priced in terms of it. This means that most goods can be exchanged for money at a certain rate.\n\nIt is not accurate to say that many goods can be bought with bitcoin today. For example, while a cup of coffee might be available for purchase using bitcoin, the price listed is not the true value of bitcoin. Instead, it is the dollar price that the merchant wants, converted into bitcoin based on the current exchange rate between dollars and bitcoin.\n\nIf the value of bitcoin goes down in terms of dollars, the merchant will ask for more bitcoin to equal the same dollar amount.\n\nBitcoin can only be considered a unit of account (a standard way to measure the value of goods) when merchants are willing to accept it for payment without considering the exchange rate with other currencies.\n", + "title": "How can bitcoin be considered a unit of account" } } diff --git a/chapter-203-the-evolution-of-money-i/203.06-lesson-partly-monetized.json b/chapter-203-the-evolution-of-money-i/203.06-lesson-partly-monetized.json index e1b2245..adb5344 100644 --- a/chapter-203-the-evolution-of-money-i/203.06-lesson-partly-monetized.json +++ b/chapter-203-the-evolution-of-money-i/203.06-lesson-partly-monetized.json @@ -1,22 +1,18 @@ { "partlyMonetized": { - "title": "Partial Monetization", - "questions": { - "partlyMonetized": { - "answers": [ - "A good that is not yet widely used as a unit of account", - "A currency that is only accepted in certain countries", - "A good that is used as a medium of exchange but not for storing value or measuring the value of goods" - ], - "feedback": [ - "Congratulations! You've chosen the correct answer. A partly monetized good is one that is not yet widely accepted as a unit of account, which means it is not commonly used as a standard way to measure the value of other goods. This can include goods like gold, which is often used to store value but not typically used for everyday transactions", - "That's a creative answer, but unfortunately not quite right. Better luck next time", - "Not quite correct, but close! Keep thinking." - ], - "question": "What is the meaning of the term \"partly monetized\"", - "text": "Goods that are not widely accepted as a unit of account may be considered \"partly monetized\" because they are used for some purposes related to money, but not all.\n\nGold is an example of a partly monetized good that is used to store value but is not widely used as a medium of exchange or unit of account. In some countries, different goods may be used for different purposes related to money, such as one good being used as a medium of exchange and another being used as a store of value or unit of account.\n\nThe dollar is an example of a good that is widely used for all three purposes of money in the United States, while the peso was an example of a good that was used as a medium of exchange in Argentina but was not a good store of value because of its volatility and regular loss of purchasing power.\n", - "title": "What is the meaning of the term \"partly monetized\"" - } - } + "screen": "partlyMonetized", + "answers": [ + "A good that is not yet widely used as a unit of account", + "A currency that is only accepted in certain countries", + "A good that is used as a medium of exchange but not for storing value or measuring the value of goods" + ], + "feedback": [ + "Congratulations! You've chosen the correct answer. A partly monetized good is one that is not yet widely accepted as a unit of account, which means it is not commonly used as a standard way to measure the value of other goods. This can include goods like gold, which is often used to store value but not typically used for everyday transactions", + "That's a creative answer, but unfortunately not quite right. Better luck next time", + "Not quite correct, but close! Keep thinking." + ], + "question": "What is the meaning of the term \"partly monetized\"", + "text": "Goods that are not widely accepted as a unit of account may be considered \"partly monetized\" because they are used for some purposes related to money, but not all.\n\nGold is an example of a partly monetized good that is used to store value but is not widely used as a medium of exchange or unit of account. In some countries, different goods may be used for different purposes related to money, such as one good being used as a medium of exchange and another being used as a store of value or unit of account.\n\nThe dollar is an example of a good that is widely used for all three purposes of money in the United States, while the peso was an example of a good that was used as a medium of exchange in Argentina but was not a good store of value because of its volatility and regular loss of purchasing power.\n", + "title": "What is the meaning of the term \"partly monetized\"" } } diff --git a/chapter-203-the-evolution-of-money-i/203.07-lesson-monitization-stage.json b/chapter-203-the-evolution-of-money-i/203.07-lesson-monitization-stage.json index d162e0d..95aaf67 100644 --- a/chapter-203-the-evolution-of-money-i/203.07-lesson-monitization-stage.json +++ b/chapter-203-the-evolution-of-money-i/203.07-lesson-monitization-stage.json @@ -1,22 +1,18 @@ { "monetizationStage": { - "title": "Bitcoin is in the stage of monetization", - "questions": { - "monetizationStage": { - "answers": [ - "It is in the process of becoming more widely accepted as money", - "It is currently being used as a way to trade goods and services, like other currencies.", - "It has already completed the process of becoming more widely accepted as money and is now being used as a form of currency." - ], - "feedback": [ - "Bingo! You're right on the money (pun intended) with this answer. Did you know that the process of Bitcoin becoming more widely accepted as money is similar to the process gold went through to become a widely accepted form of currency", - "Ha! You must have missed the part about it taking several years for Bitcoin to reach this stage. Keep reading", - "Sorry to break it to you, but Bitcoin is still in the process of becoming more widely accepted as money. Better luck next time!" - ], - "question": "What is the current stage of Bitcoin's evolution", - "text": "Bitcoin is currently changing from the first stage of being used as money to the second stage. It may take several years for Bitcoin to be used as a way to trade goods and services, like other currencies.\n\nThe process of Bitcoin becoming more widely accepted as money is uncertain, as the same process took a long time for gold and no one alive has seen a good become money in the same way that is happening with Bitcoin. There is not a lot of experience with this process, but developments around the world are very promising and happening faster in the interconnected digital age.\n", - "title": "What is the current stage of Bitcoin's evolution" - } - } + "screen": "monetizationStage", + "answers": [ + "It is in the process of becoming more widely accepted as money", + "It is currently being used as a way to trade goods and services, like other currencies.", + "It has already completed the process of becoming more widely accepted as money and is now being used as a form of currency." + ], + "feedback": [ + "Bingo! You're right on the money (pun intended) with this answer. Did you know that the process of Bitcoin becoming more widely accepted as money is similar to the process gold went through to become a widely accepted form of currency", + "Ha! You must have missed the part about it taking several years for Bitcoin to reach this stage. Keep reading", + "Sorry to break it to you, but Bitcoin is still in the process of becoming more widely accepted as money. Better luck next time!" + ], + "question": "What is the current stage of Bitcoin's evolution", + "text": "Bitcoin is currently changing from the first stage of being used as money to the second stage. It may take several years for Bitcoin to be used as a way to trade goods and services, like other currencies.\n\nThe process of Bitcoin becoming more widely accepted as money is uncertain, as the same process took a long time for gold and no one alive has seen a good become money in the same way that is happening with Bitcoin. There is not a lot of experience with this process, but developments around the world are very promising and happening faster in the interconnected digital age.\n", + "title": "What is the current stage of Bitcoin's evolution" } } diff --git a/chapter-204-the-evolution-of-money-ii/204-combined.json b/chapter-204-the-evolution-of-money-ii/204-combined.json index 58d0b78..f0d7855 100644 --- a/chapter-204-the-evolution-of-money-ii/204-combined.json +++ b/chapter-204-the-evolution-of-money-ii/204-combined.json @@ -1,112 +1,82 @@ -[ - { - "notFromGovernment": { - "title": "Money is not a government creation", - "questions": { - "notFromGovernment": { - "answers": [ - "Money is the most tradable good in any given market.", - "Money is a government creation.", - "Money is a magical substance created by fairies." - ], - "feedback": [ - "Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money", - "Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time", - "Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!" - ], - "question": "What is money", - "text": "There is a popular misconception that money is a government creation and cannot exist without government. This is false.\n\nThe history of money goes back thousands of years to times when governments did not exist, but money did.\n\nThis proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.\n", - "title": "What is money" - } - } - } - }, - { - "primaryFunction": { - "title": "The primary function of money", - "questions": { - "primaryFunction": { - "answers": [ - "To improve the workings of small barter networks.", - "To facilitate large scale trade networks.", - "To reduce the need for credit." - ], - "feedback": [ - "Congratulations! It's interesting to think about how money has evolved over time, from its early use as a means of facilitating trade in small communities to its current role as a medium of exchange in modern economies", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! Credit has been around for almost as long as money, and it's likely here to stay. Better luck with your next answer." - ], - "question": "What was the primary function of money", - "text": "Primitive money existed long before large scale trade networks. Archeologists found that early humans used valuable tools like arrowheads, collectibles like cowry shells and commodities like barley as primitive money.\n\nThe main advantage and primary function of these primitive moneys was to improve the workings of even small barter networks. Primitive moneys achieved this by eliminating the need to match coincidences of wants, interests, supply or skill. They also greatly reduced the need for credit, which, in the absence of writing in prehistoric times, was difficult to keep track of.\n", - "title": "What was the primary function of money" - } - } - } - }, - { - "monetaryMetals": { - "title": "Monetary Metals", - "questions": { - "monetaryMetals": { - "answers": [ - "Their ability to withstand time and wear.", - "Their rarity and difficulty to produce.", - "Their colorful and decorative appearance." - ], - "feedback": [ - "Correct! It's impressive to think about how certain materials, like metal, have been able to hold value over centuries and even millennia. Good work", - "Nice try, but not quite right. Better luck with your next answer", - "Sorry, looks like you were a little off the mark this time. Maybe try focusing on the functional aspects of money rather than its aesthetic appeal." - ], - "question": "What made metals valuable as a form of money", - "text": "Metals were difficult to make, which made them rare. They also lasted longer than other materials like shells, grains, and beads. This made them valuable and easy to carry, or portable.\n\nAs technology improved, especially in the production of metal, humans were able to create more advanced, better forms of money.\n", - "title": "What made metals valuable as a form of money" - } - } - } - }, - { - "stockToFlow": { - "title": "Understanding the Stock to Flow Ratio", - "questions": { - "stockToFlow": { - "answers": [ - "A measure of the rate at which new units of a monetary good are introduced into the existing supply.", - "A measure of a company's financial stability.", - "A ratio used to compare the value of different currencies." - ], - "feedback": [ - "That's right! The Stock to Flow ratio can be a useful tool for understanding the stability and scarcity of a particular currency or commodity. Good job", - "Sorry, looks like you're mixing up your business jargon. Better luck with your next answer", - "Wrong! But hey, at least you're thinking about the global economy. Better luck with your next guess." - ], - "question": "What is the Stock to Flow ratio", - "text": "The Stock to Flow ratio is a measure of the rate at which new units of money are added to the existing supply.\n\nTo calculate it, you divide the existing amount of money by the amount produced each year.\n\nFor something to be a good way to save value, it should become more valuable when people want to use it to save, but the people who make it should not be able to add too much of it, which would make it less valuable.\n", - "title": "What is the Stock to Flow ratio" - } - } - } - }, - { - "hardMoney": { - "title": "Hard Money and Easy Money", - "questions": { - "hardMoney": { - "answers": [ - "The difficulty of producing new units of a monetary good.", - "The value of money compared to other currencies.", - "The amount of money in circulation." - ], - "feedback": [ - "That's it! **** It's interesting to think about how the hardness of money can change over time as technology advances and what was once difficult to produce becomes easier. Good job", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! The hardness of money has more to do with its production than its quantity. Better luck with your next answer." - ], - "question": "What is the hardness of money", - "text": "The difficulty of producing new units of money compared to other forms of money is called its hardness. This can change over time as technology improves and what was once difficult to produce could become easier.\n\nIn precolonial Ghana (Africa), aggry beads (made of glass) were used as money. Glassmaking was an expensive craft in that region, which gave the aggry beads a high stock-to-flow ratio and made them rather scarce.\n\nIn the 16th century, European explorers discovered the high value ascribed to these beads by the west Africans and began importing them in mass quantities; as European glassmaking technology made them extremely cheap to produce.\n\nSlowly but surely, the Europeans used these cheaply produced beads to acquire most of the precious resources of Africa. The net effect of this incursion into Africa was the transference its vast natural resource wealth to Europeans and the conversion of aggry beads from hard money to soft money.\n\nAs societies continued to evolve, they began to move away from artifact money like stones and glass beads and towards monetary metals.\n", - "title": "What is the hardness of money" - } +{ + "TheEvolutionofMoneyII": { + "title": "The Evolution of Money II", + "questions": { + "notFromGovernment": { + "answers": [ + "Money is the most tradable good in any given market.", + "Money is a government creation.", + "Money is a magical substance created by fairies." + ], + "feedback": [ + "Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money", + "Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time", + "Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!" + ], + "question": "What is money", + "text": "There is a popular misconception that money is a government creation and cannot exist without government. This is false.\n\nThe history of money goes back thousands of years to times when governments did not exist, but money did.\n\nThis proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.\n", + "title": "What is money" + }, + "primaryFunction": { + "answers": [ + "To improve the workings of small barter networks.", + "To facilitate large scale trade networks.", + "To reduce the need for credit." + ], + "feedback": [ + "Congratulations! It's interesting to think about how money has evolved over time, from its early use as a means of facilitating trade in small communities to its current role as a medium of exchange in modern economies", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! Credit has been around for almost as long as money, and it's likely here to stay. Better luck with your next answer." + ], + "question": "What was the primary function of money", + "text": "Primitive money existed long before large scale trade networks. Archeologists found that early humans used valuable tools like arrowheads, collectibles like cowry shells and commodities like barley as primitive money.\n\nThe main advantage and primary function of these primitive moneys was to improve the workings of even small barter networks. Primitive moneys achieved this by eliminating the need to match coincidences of wants, interests, supply or skill. They also greatly reduced the need for credit, which, in the absence of writing in prehistoric times, was difficult to keep track of.\n", + "title": "What was the primary function of money" + }, + "monetaryMetals": { + "answers": [ + "Their ability to withstand time and wear.", + "Their rarity and difficulty to produce.", + "Their colorful and decorative appearance." + ], + "feedback": [ + "Correct! It's impressive to think about how certain materials, like metal, have been able to hold value over centuries and even millennia. Good work", + "Nice try, but not quite right. Better luck with your next answer", + "Sorry, looks like you were a little off the mark this time. Maybe try focusing on the functional aspects of money rather than its aesthetic appeal." + ], + "question": "What made metals valuable as a form of money", + "text": "Metals were difficult to make, which made them rare. They also lasted longer than other materials like shells, grains, and beads. This made them valuable and easy to carry, or portable.\n\nAs technology improved, especially in the production of metal, humans were able to create more advanced, better forms of money.\n", + "title": "What made metals valuable as a form of money" + }, + "stockToFlow": { + "answers": [ + "A measure of the rate at which new units of a monetary good are introduced into the existing supply.", + "A measure of a company's financial stability.", + "A ratio used to compare the value of different currencies." + ], + "feedback": [ + "That's right! The Stock to Flow ratio can be a useful tool for understanding the stability and scarcity of a particular currency or commodity. Good job", + "Sorry, looks like you're mixing up your business jargon. Better luck with your next answer", + "Wrong! But hey, at least you're thinking about the global economy. Better luck with your next guess." + ], + "question": "What is the Stock to Flow ratio", + "text": "The Stock to Flow ratio is a measure of the rate at which new units of money are added to the existing supply.\n\nTo calculate it, you divide the existing amount of money by the amount produced each year.\n\nFor something to be a good way to save value, it should become more valuable when people want to use it to save, but the people who make it should not be able to add too much of it, which would make it less valuable.\n", + "title": "What is the Stock to Flow ratio" + }, + "hardMoney": { + "answers": [ + "The difficulty of producing new units of a monetary good.", + "The value of money compared to other currencies.", + "The amount of money in circulation." + ], + "feedback": [ + "That's it! **** It's interesting to think about how the hardness of money can change over time as technology advances and what was once difficult to produce becomes easier. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! The hardness of money has more to do with its production than its quantity. Better luck with your next answer." + ], + "question": "What is the hardness of money", + "text": "The difficulty of producing new units of money compared to other forms of money is called its hardness. This can change over time as technology improves and what was once difficult to produce could become easier.\n\nIn precolonial Ghana (Africa), aggry beads (made of glass) were used as money. Glassmaking was an expensive craft in that region, which gave the aggry beads a high stock-to-flow ratio and made them rather scarce.\n\nIn the 16th century, European explorers discovered the high value ascribed to these beads by the west Africans and began importing them in mass quantities; as European glassmaking technology made them extremely cheap to produce.\n\nSlowly but surely, the Europeans used these cheaply produced beads to acquire most of the precious resources of Africa. The net effect of this incursion into Africa was the transference its vast natural resource wealth to Europeans and the conversion of aggry beads from hard money to soft money.\n\nAs societies continued to evolve, they began to move away from artifact money like stones and glass beads and towards monetary metals.\n", + "title": "What is the hardness of money" } } } -] +} diff --git a/chapter-204-the-evolution-of-money-ii/204.01-lesson-not-from-government.json b/chapter-204-the-evolution-of-money-ii/204.01-lesson-not-from-government.json index ec36999..9701dd2 100644 --- a/chapter-204-the-evolution-of-money-ii/204.01-lesson-not-from-government.json +++ b/chapter-204-the-evolution-of-money-ii/204.01-lesson-not-from-government.json @@ -1,22 +1,18 @@ { "notFromGovernment": { - "title": "Money is not a government creation", - "questions": { - "notFromGovernment": { - "answers": [ - "Money is the most tradable good in any given market.", - "Money is a government creation.", - "Money is a magical substance created by fairies." - ], - "feedback": [ - "Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money", - "Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time", - "Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!" - ], - "question": "What is money", - "text": "There is a popular misconception that money is a government creation and cannot exist without government. This is false.\n\nThe history of money goes back thousands of years to times when governments did not exist, but money did.\n\nThis proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.\n", - "title": "What is money" - } - } + "screen": "notFromGovernment", + "answers": [ + "Money is the most tradable good in any given market.", + "Money is a government creation.", + "Money is a magical substance created by fairies." + ], + "feedback": [ + "Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money", + "Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time", + "Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!" + ], + "question": "What is money", + "text": "There is a popular misconception that money is a government creation and cannot exist without government. This is false.\n\nThe history of money goes back thousands of years to times when governments did not exist, but money did.\n\nThis proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.\n", + "title": "What is money" } } diff --git a/chapter-204-the-evolution-of-money-ii/204.02-lesson-primary-functoin.json b/chapter-204-the-evolution-of-money-ii/204.02-lesson-primary-functoin.json index 8d27eb1..f3e509e 100644 --- a/chapter-204-the-evolution-of-money-ii/204.02-lesson-primary-functoin.json +++ b/chapter-204-the-evolution-of-money-ii/204.02-lesson-primary-functoin.json @@ -1,22 +1,18 @@ { "primaryFunction": { - "title": "The primary function of money", - "questions": { - "primaryFunction": { - "answers": [ - "To improve the workings of small barter networks.", - "To facilitate large scale trade networks.", - "To reduce the need for credit." - ], - "feedback": [ - "Congratulations! It's interesting to think about how money has evolved over time, from its early use as a means of facilitating trade in small communities to its current role as a medium of exchange in modern economies", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! Credit has been around for almost as long as money, and it's likely here to stay. Better luck with your next answer." - ], - "question": "What was the primary function of money", - "text": "Primitive money existed long before large scale trade networks. Archeologists found that early humans used valuable tools like arrowheads, collectibles like cowry shells and commodities like barley as primitive money.\n\nThe main advantage and primary function of these primitive moneys was to improve the workings of even small barter networks. Primitive moneys achieved this by eliminating the need to match coincidences of wants, interests, supply or skill. They also greatly reduced the need for credit, which, in the absence of writing in prehistoric times, was difficult to keep track of.\n", - "title": "What was the primary function of money" - } - } + "screen": "primaryFunction", + "answers": [ + "To improve the workings of small barter networks.", + "To facilitate large scale trade networks.", + "To reduce the need for credit." + ], + "feedback": [ + "Congratulations! It's interesting to think about how money has evolved over time, from its early use as a means of facilitating trade in small communities to its current role as a medium of exchange in modern economies", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! Credit has been around for almost as long as money, and it's likely here to stay. Better luck with your next answer." + ], + "question": "What was the primary function of money", + "text": "Primitive money existed long before large scale trade networks. Archeologists found that early humans used valuable tools like arrowheads, collectibles like cowry shells and commodities like barley as primitive money.\n\nThe main advantage and primary function of these primitive moneys was to improve the workings of even small barter networks. Primitive moneys achieved this by eliminating the need to match coincidences of wants, interests, supply or skill. They also greatly reduced the need for credit, which, in the absence of writing in prehistoric times, was difficult to keep track of.\n", + "title": "What was the primary function of money" } } diff --git a/chapter-204-the-evolution-of-money-ii/204.03-lesson-monetary-metals.json b/chapter-204-the-evolution-of-money-ii/204.03-lesson-monetary-metals.json index 602c2d9..f159492 100644 --- a/chapter-204-the-evolution-of-money-ii/204.03-lesson-monetary-metals.json +++ b/chapter-204-the-evolution-of-money-ii/204.03-lesson-monetary-metals.json @@ -1,22 +1,18 @@ { "monetaryMetals": { - "title": "Monetary Metals", - "questions": { - "monetaryMetals": { - "answers": [ - "Their ability to withstand time and wear.", - "Their rarity and difficulty to produce.", - "Their colorful and decorative appearance." - ], - "feedback": [ - "Correct! It's impressive to think about how certain materials, like metal, have been able to hold value over centuries and even millennia. Good work", - "Nice try, but not quite right. Better luck with your next answer", - "Sorry, looks like you were a little off the mark this time. Maybe try focusing on the functional aspects of money rather than its aesthetic appeal." - ], - "question": "What made metals valuable as a form of money", - "text": "Metals were difficult to make, which made them rare. They also lasted longer than other materials like shells, grains, and beads. This made them valuable and easy to carry, or portable.\n\nAs technology improved, especially in the production of metal, humans were able to create more advanced, better forms of money.\n", - "title": "What made metals valuable as a form of money" - } - } + "screen": "monetaryMetals", + "answers": [ + "Their ability to withstand time and wear.", + "Their rarity and difficulty to produce.", + "Their colorful and decorative appearance." + ], + "feedback": [ + "Correct! It's impressive to think about how certain materials, like metal, have been able to hold value over centuries and even millennia. Good work", + "Nice try, but not quite right. Better luck with your next answer", + "Sorry, looks like you were a little off the mark this time. Maybe try focusing on the functional aspects of money rather than its aesthetic appeal." + ], + "question": "What made metals valuable as a form of money", + "text": "Metals were difficult to make, which made them rare. They also lasted longer than other materials like shells, grains, and beads. This made them valuable and easy to carry, or portable.\n\nAs technology improved, especially in the production of metal, humans were able to create more advanced, better forms of money.\n", + "title": "What made metals valuable as a form of money" } } diff --git a/chapter-204-the-evolution-of-money-ii/204.05-lesson-stock-to-flow.json b/chapter-204-the-evolution-of-money-ii/204.05-lesson-stock-to-flow.json index 058bbf1..7a3b37a 100644 --- a/chapter-204-the-evolution-of-money-ii/204.05-lesson-stock-to-flow.json +++ b/chapter-204-the-evolution-of-money-ii/204.05-lesson-stock-to-flow.json @@ -1,22 +1,18 @@ { "stockToFlow": { - "title": "Understanding the Stock to Flow Ratio", - "questions": { - "stockToFlow": { - "answers": [ - "A measure of the rate at which new units of a monetary good are introduced into the existing supply.", - "A measure of a company's financial stability.", - "A ratio used to compare the value of different currencies." - ], - "feedback": [ - "That's right! The Stock to Flow ratio can be a useful tool for understanding the stability and scarcity of a particular currency or commodity. Good job", - "Sorry, looks like you're mixing up your business jargon. Better luck with your next answer", - "Wrong! But hey, at least you're thinking about the global economy. Better luck with your next guess." - ], - "question": "What is the Stock to Flow ratio", - "text": "The Stock to Flow ratio is a measure of the rate at which new units of money are added to the existing supply.\n\nTo calculate it, you divide the existing amount of money by the amount produced each year.\n\nFor something to be a good way to save value, it should become more valuable when people want to use it to save, but the people who make it should not be able to add too much of it, which would make it less valuable.\n", - "title": "What is the Stock to Flow ratio" - } - } + "screen": "stockToFlow", + "answers": [ + "A measure of the rate at which new units of a monetary good are introduced into the existing supply.", + "A measure of a company's financial stability.", + "A ratio used to compare the value of different currencies." + ], + "feedback": [ + "That's right! The Stock to Flow ratio can be a useful tool for understanding the stability and scarcity of a particular currency or commodity. Good job", + "Sorry, looks like you're mixing up your business jargon. Better luck with your next answer", + "Wrong! But hey, at least you're thinking about the global economy. Better luck with your next guess." + ], + "question": "What is the Stock to Flow ratio", + "text": "The Stock to Flow ratio is a measure of the rate at which new units of money are added to the existing supply.\n\nTo calculate it, you divide the existing amount of money by the amount produced each year.\n\nFor something to be a good way to save value, it should become more valuable when people want to use it to save, but the people who make it should not be able to add too much of it, which would make it less valuable.\n", + "title": "What is the Stock to Flow ratio" } } diff --git a/chapter-204-the-evolution-of-money-ii/204.06-lesson-hard-money.json b/chapter-204-the-evolution-of-money-ii/204.06-lesson-hard-money.json index 7afdf7e..5326337 100644 --- a/chapter-204-the-evolution-of-money-ii/204.06-lesson-hard-money.json +++ b/chapter-204-the-evolution-of-money-ii/204.06-lesson-hard-money.json @@ -1,22 +1,18 @@ { "hardMoney": { - "title": "Hard Money and Easy Money", - "questions": { - "hardMoney": { - "answers": [ - "The difficulty of producing new units of a monetary good.", - "The value of money compared to other currencies.", - "The amount of money in circulation." - ], - "feedback": [ - "That's it! **** It's interesting to think about how the hardness of money can change over time as technology advances and what was once difficult to produce becomes easier. Good job", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! The hardness of money has more to do with its production than its quantity. Better luck with your next answer." - ], - "question": "What is the hardness of money", - "text": "The difficulty of producing new units of money compared to other forms of money is called its hardness. This can change over time as technology improves and what was once difficult to produce could become easier.\n\nIn precolonial Ghana (Africa), aggry beads (made of glass) were used as money. Glassmaking was an expensive craft in that region, which gave the aggry beads a high stock-to-flow ratio and made them rather scarce.\n\nIn the 16th century, European explorers discovered the high value ascribed to these beads by the west Africans and began importing them in mass quantities; as European glassmaking technology made them extremely cheap to produce.\n\nSlowly but surely, the Europeans used these cheaply produced beads to acquire most of the precious resources of Africa. The net effect of this incursion into Africa was the transference its vast natural resource wealth to Europeans and the conversion of aggry beads from hard money to soft money.\n\nAs societies continued to evolve, they began to move away from artifact money like stones and glass beads and towards monetary metals.\n", - "title": "What is the hardness of money" - } - } + "screen": "hardMoney", + "answers": [ + "The difficulty of producing new units of a monetary good.", + "The value of money compared to other currencies.", + "The amount of money in circulation." + ], + "feedback": [ + "That's it! **** It's interesting to think about how the hardness of money can change over time as technology advances and what was once difficult to produce becomes easier. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! The hardness of money has more to do with its production than its quantity. Better luck with your next answer." + ], + "question": "What is the hardness of money", + "text": "The difficulty of producing new units of money compared to other forms of money is called its hardness. This can change over time as technology improves and what was once difficult to produce could become easier.\n\nIn precolonial Ghana (Africa), aggry beads (made of glass) were used as money. Glassmaking was an expensive craft in that region, which gave the aggry beads a high stock-to-flow ratio and made them rather scarce.\n\nIn the 16th century, European explorers discovered the high value ascribed to these beads by the west Africans and began importing them in mass quantities; as European glassmaking technology made them extremely cheap to produce.\n\nSlowly but surely, the Europeans used these cheaply produced beads to acquire most of the precious resources of Africa. The net effect of this incursion into Africa was the transference its vast natural resource wealth to Europeans and the conversion of aggry beads from hard money to soft money.\n\nAs societies continued to evolve, they began to move away from artifact money like stones and glass beads and towards monetary metals.\n", + "title": "What is the hardness of money" } } diff --git a/chapter-205-the-evolution-of-money-iii/205-combined.json b/chapter-205-the-evolution-of-money-iii/205-combined.json index 2e5ad15..6b7c2d4 100644 --- a/chapter-205-the-evolution-of-money-iii/205-combined.json +++ b/chapter-205-the-evolution-of-money-iii/205-combined.json @@ -1,178 +1,127 @@ -[ - { - "convergingOnGold": { - "title": "Convergence on Gold", - "questions": { - "convergingOnGold": { - "answers": [ - "Because it cannot be destroyed or synthesized from other materials.", - "Because it is abundant and easy to find.", - "Because it is the most attractive and visually appealing metal." - ], - "feedback": [ - "Exactly**.** It's interesting to think about how the qualities of different materials, such as gold's durability and rarity, can make them more valuable and desirable as a form of money. Good job", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! While gold may have a certain aesthetic appeal, it's ultimately its functional qualities that make it a valuable form of money. Better luck with your next answer." - ], - "question": "Why did the free market choose gold as a form of money", - "text": "From all monetary metals, the free market ultimately chose gold as a form of money because it has two important qualities that keep its value stable over long periods of time and across many regions of the world:\n\n1\\) Gold cannot be destroyed, and\n\n2\\) Gold cannot be made from other materials.\n", - "title": "Why did the free market choose gold as a form of money" - } - } - } - }, - { - "originsOfPaperMoney": { - "title": "The Origins of Paper Money Backed by Gold", - "questions": { - "originsOfPaperMoney": { - "answers": [ - "To allow for the convenient exchange of gold in place of physically transporting it", - "To represent a promise to pay a debt", - "To transport large amounts of gold" - ], - "feedback": [ - "Congratulations! You're a gold exchange genius! Did you know that these paper notes were also known as \"bearer instruments,\" which means that they could be traded and redeemed by anyone in possession of them", - "Oh no, it looks like you've got a case of promissory confusion! Better luck next time", - "Transporting gold in paper form? That's a bold move." - ], - "question": "What were paper notes used for during the expansion of trade routes", - "text": "Gold can be made into coins or bars of a specific weight and purity. When trade routes expanded, it became riskier to transport large amounts of gold.\n\nAs a solution, paper notes from trusted banks that could be exchanged for gold were used. In 900 CE, Chinese merchants initiated the use of paper currency to avoid having to carry thousands of coins over long distances. They started trading paper receipts from custodians where they had deposited money or goods.\n\nIn the beginning these paper notes were personally registered, but they soon became a written order to pay the amount to whomever had it in their possession (bearer instrument). These notes can be seen as a predecessor to today's banknotes.\n", - "title": "What were paper notes used for during the expansion of trade routes" - } - } - } - }, - { - "fractionalReserve": { - "title": "The Invention of Fractional Reserve Banking", - "questions": { - "fractionalReserve": { - "answers": [ - "To allow people to earn money from their gold", - "To make it easier for banks to hold large amounts of gold", - "To make it easier for banks to make loans" - ], - "feedback": [ - "Congratulations! You're a banking history expert! Did you know that Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans", - "Hmm, it looks like you're a little off the mark. Better luck next time", - "Sorry, but it looks like you're mixing up your banking systems. Better luck next time!" - ], - "question": "Why did Fractional Reserve Banking develop", - "text": "Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans.\n\nOne reason this system developed is because people wanted to earn money from their gold, rather than paying to store it.\n\nThey could do this by allowing a bank or vault to lend out their gold and receiving interest payment in return.\n\nIf more people deposited their gold than wanted to take it back, the bank could make more profit by using the same gold as collateral for multiple loans, hence keeping only a fraction of loans in reserve.\n", - "title": "Why did Fractional Reserve Banking develop" - } - } - } - }, - { - "bankRun": { - "title": "Problems of Fractional Reserve Banking", - "questions": { - "bankRun": { - "answers": [ - "A sudden drain of deposits en masse, leading to systemic fears and drying up of liquidity", - "A nice vacation for everyone", - "A sudden increase in the price of gasoline" - ], - "feedback": [ - "masse, leading to systemic fears and drying up of liquidity", - "Sorry, taking a vacation isn't quite the outcome we're looking for here. Better luck next time", - "Gas prices might fluctuate for a variety of reasons, but this particular scenario doesn't have much to do with it. Try again!" - ], - "question": "What is a potential outcome of banks issuing more paper notes than they held deposits", - "text": "Banks sometimes issued more paper notes than they had deposits, which could cause problems in the economy. If people started to doubt the solvency of a bank, they might rush to withdraw their money all at once before others do. This is called a bank run.\n\nThe sudden loss of deposits from the bank run could reveal that the bank was using too much leverage through Fractional Reserve Banking. This could cause a lack of liquidity and bring the whole financial system to a stop.\n", - "title": "What is a potential outcome of banks issuing more paper notes than they held deposits" - } - } - } - }, - { - "modernCentralBanking": { - "title": "Modern Central Banking", - "questions": { - "modernCentralBanking": { - "answers": [ - "To create a unified national currency and provide a backup plan for other banks", - "To sell ice cream and provide a place for people to play games", - "To act as a personal stylist and wardrobe consultant for the royal family" - ], - "feedback": [ - "Congratulations, you got it right! Did you know that central banks also act as the \"lender of last resort,\" meaning they can give out money when needed to make sure people's deposits are secure", - "I'm sorry, but central banks do not sell ice cream or provide a place for people to play games. They have much more important responsibilities", - "I'm afraid you are mistaken. Central banks do not act as personal stylists or wardrobe consultants for the royal family. Try again!" - ], - "question": "What is the purpose of a central bank", - "text": "To counter the problem of bank runs, governments created their own banks called \"central banks.\"\n\nThese central banks have the special power to create money. They act as a backup plan for when commercial banks run out of reserves and need extra money to stay open.\n\nBecause of this function, central banks are also called the \"lenders of last resort,\" meaning they can create and give out money when commercial banks need liquidity to service withdrawals.\n", - "title": "What is the purpose of a central bank" - } - } - } - }, - { - "goldBacked": { - "title": "From Gold to Gold-Backed", - "questions": { - "goldBacked": { - "answers": [ - "It made it difficult for governments to borrow money", - "It made it hard for people to save money in the bank", - "It required governments to hold a petting zoo in their treasury" - ], - "feedback": [ - "Yep! The gold standard made it difficult for governments to borrow money because they had to hold a certain amount of gold in reserve in order to issue a certain amount of currency", - "I'm sorry, but the gold standard did not make it hard for people to save money in the bank. It was actually a problem for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves", - "An amusing idea, but nonsense nevertheless! Try again." - ], - "question": "What was the main problem with the gold standard system for governments and citizens", - "text": "In the past, some governments linked the value of their currency to a specific amount of gold, a system known as a \"gold standard.\" This meant that the government had to hold a certain amount of gold in reserve in order to issue a certain amount of currency.\n\nThis system limited the government's ability to borrow money because they could not simply print more currency to cover the cost of borrowing. Governments often borrowed money to finance wars or other expensive projects, but the gold standard made it difficult for them to do so without first accumulating enough gold to back the new currency they wanted to issue.\n\nThe gold standard was also problematic for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves.\n", - "title": "What was the main problem with the gold standard system for governments and citizens" - } - } - } - }, - { - "brettonWoods": { - "title": "The Bretton Woods System", - "questions": { - "brettonWoods": { - "answers": [ - "To link the value of other countries' currencies to the value of gold through the US dollar", - "To create a new global currency made out of chocolate coins", - "To establish a network of trampoline parks in every major city" - ], - "feedback": [ - "That's right. The Bretton Woods system was established after World War II in order to address global economic instability and high levels of debt. It linked the value of other countries' currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate", - "Sweet idea, but not very practical. Or would you prefer your money to melt away even faster? Try again", - "Trampoline parks would have surely made for a great distraction of the public from the strange machinations of the Bretton Woods system. Have you considered applying as an advisor at the IMF or World Bank? Try again!" - ], - "question": "What was the main purpose of the Bretton Woods system", - "text": "After World War I and II, many countries were financially exhausted and did not have a lot of money. The United States had a lot of gold because they sold a lot of weapons and other military equipment to other countries during the wars. As a result, the United States controlled about two-thirds of the world's gold.\n\nIn order to fix the global economy, a new system was created where countries would link their own currencies to the value of the US dollar.\n\nThe US dollar, in turn, would be linked to the value of gold. This meant that the value of other countries' currencies would be based on the value of the US dollar, which was based on the amount of gold the United States had.\n", - "title": "What was the main purpose of the Bretton Woods system" - } - } - } - }, - { - "globalReserve": { - "title": "The Global Reserve Currency", - "questions": { - "globalReserve": { - "answers": [ - "A type of money that is widely used in international trade and financial transactions", - "A currency made out of rainbow-colored paper and glitter", - "The currency of the nation that pays the biggest share of the World Trade Organization's budget" - ], - "feedback": [ - "Correct! A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted", - "While most banknotes are made of colorful pieces of paper with strings of glitter as security features in them, this is not what defines a global reserve currency. Try again", - "Surely this would benefit the WTO's funding immensely, but this is not how the global reserve currency is defined or chosen. Try again!" - ], - "question": "What is a global reserve currency", - "text": "A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted.\n\nChanges to the global reserve currency can have significant geopolitical implications, as it can affect the balance of power between countries.\n\nThe dominant global reserve currency has typically had a lifespan of several decades, with the US dollar serving as the dominant global reserve currency for much of the 20th century.\n", - "title": "What is a global reserve currency" - } +{ + "TheEvolutionofMoneyIII": { + "title": "The Evolution of Money III", + "questions": { + "convergingOnGold": { + "answers": [ + "Because it cannot be destroyed or synthesized from other materials.", + "Because it is abundant and easy to find.", + "Because it is the most attractive and visually appealing metal." + ], + "feedback": [ + "Exactly**.** It's interesting to think about how the qualities of different materials, such as gold's durability and rarity, can make them more valuable and desirable as a form of money. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! While gold may have a certain aesthetic appeal, it's ultimately its functional qualities that make it a valuable form of money. Better luck with your next answer." + ], + "question": "Why did the free market choose gold as a form of money", + "text": "From all monetary metals, the free market ultimately chose gold as a form of money because it has two important qualities that keep its value stable over long periods of time and across many regions of the world:\n\n1\\) Gold cannot be destroyed, and\n\n2\\) Gold cannot be made from other materials.\n", + "title": "Why did the free market choose gold as a form of money" + }, + "originsOfPaperMoney": { + "answers": [ + "To allow for the convenient exchange of gold in place of physically transporting it", + "To represent a promise to pay a debt", + "To transport large amounts of gold" + ], + "feedback": [ + "Congratulations! You're a gold exchange genius! Did you know that these paper notes were also known as \"bearer instruments,\" which means that they could be traded and redeemed by anyone in possession of them", + "Oh no, it looks like you've got a case of promissory confusion! Better luck next time", + "Transporting gold in paper form? That's a bold move." + ], + "question": "What were paper notes used for during the expansion of trade routes", + "text": "Gold can be made into coins or bars of a specific weight and purity. When trade routes expanded, it became riskier to transport large amounts of gold.\n\nAs a solution, paper notes from trusted banks that could be exchanged for gold were used. In 900 CE, Chinese merchants initiated the use of paper currency to avoid having to carry thousands of coins over long distances. They started trading paper receipts from custodians where they had deposited money or goods.\n\nIn the beginning these paper notes were personally registered, but they soon became a written order to pay the amount to whomever had it in their possession (bearer instrument). These notes can be seen as a predecessor to today's banknotes.\n", + "title": "What were paper notes used for during the expansion of trade routes" + }, + "fractionalReserve": { + "answers": [ + "To allow people to earn money from their gold", + "To make it easier for banks to hold large amounts of gold", + "To make it easier for banks to make loans" + ], + "feedback": [ + "Congratulations! You're a banking history expert! Did you know that Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans", + "Hmm, it looks like you're a little off the mark. Better luck next time", + "Sorry, but it looks like you're mixing up your banking systems. Better luck next time!" + ], + "question": "Why did Fractional Reserve Banking develop", + "text": "Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans.\n\nOne reason this system developed is because people wanted to earn money from their gold, rather than paying to store it.\n\nThey could do this by allowing a bank or vault to lend out their gold and receiving interest payment in return.\n\nIf more people deposited their gold than wanted to take it back, the bank could make more profit by using the same gold as collateral for multiple loans, hence keeping only a fraction of loans in reserve.\n", + "title": "Why did Fractional Reserve Banking develop" + }, + "bankRun": { + "answers": [ + "A sudden drain of deposits en masse, leading to systemic fears and drying up of liquidity", + "A nice vacation for everyone", + "A sudden increase in the price of gasoline" + ], + "feedback": [ + "masse, leading to systemic fears and drying up of liquidity", + "Sorry, taking a vacation isn't quite the outcome we're looking for here. Better luck next time", + "Gas prices might fluctuate for a variety of reasons, but this particular scenario doesn't have much to do with it. Try again!" + ], + "question": "What is a potential outcome of banks issuing more paper notes than they held deposits", + "text": "Banks sometimes issued more paper notes than they had deposits, which could cause problems in the economy. If people started to doubt the solvency of a bank, they might rush to withdraw their money all at once before others do. This is called a bank run.\n\nThe sudden loss of deposits from the bank run could reveal that the bank was using too much leverage through Fractional Reserve Banking. This could cause a lack of liquidity and bring the whole financial system to a stop.\n", + "title": "What is a potential outcome of banks issuing more paper notes than they held deposits" + }, + "modernCentralBanking": { + "answers": [ + "To create a unified national currency and provide a backup plan for other banks", + "To sell ice cream and provide a place for people to play games", + "To act as a personal stylist and wardrobe consultant for the royal family" + ], + "feedback": [ + "Congratulations, you got it right! Did you know that central banks also act as the \"lender of last resort,\" meaning they can give out money when needed to make sure people's deposits are secure", + "I'm sorry, but central banks do not sell ice cream or provide a place for people to play games. They have much more important responsibilities", + "I'm afraid you are mistaken. Central banks do not act as personal stylists or wardrobe consultants for the royal family. Try again!" + ], + "question": "What is the purpose of a central bank", + "text": "To counter the problem of bank runs, governments created their own banks called \"central banks.\"\n\nThese central banks have the special power to create money. They act as a backup plan for when commercial banks run out of reserves and need extra money to stay open.\n\nBecause of this function, central banks are also called the \"lenders of last resort,\" meaning they can create and give out money when commercial banks need liquidity to service withdrawals.\n", + "title": "What is the purpose of a central bank" + }, + "goldBacked": { + "answers": [ + "It made it difficult for governments to borrow money", + "It made it hard for people to save money in the bank", + "It required governments to hold a petting zoo in their treasury" + ], + "feedback": [ + "Yep! The gold standard made it difficult for governments to borrow money because they had to hold a certain amount of gold in reserve in order to issue a certain amount of currency", + "I'm sorry, but the gold standard did not make it hard for people to save money in the bank. It was actually a problem for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves", + "An amusing idea, but nonsense nevertheless! Try again." + ], + "question": "What was the main problem with the gold standard system for governments and citizens", + "text": "In the past, some governments linked the value of their currency to a specific amount of gold, a system known as a \"gold standard.\" This meant that the government had to hold a certain amount of gold in reserve in order to issue a certain amount of currency.\n\nThis system limited the government's ability to borrow money because they could not simply print more currency to cover the cost of borrowing. Governments often borrowed money to finance wars or other expensive projects, but the gold standard made it difficult for them to do so without first accumulating enough gold to back the new currency they wanted to issue.\n\nThe gold standard was also problematic for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves.\n", + "title": "What was the main problem with the gold standard system for governments and citizens" + }, + "brettonWoods": { + "answers": [ + "To link the value of other countries' currencies to the value of gold through the US dollar", + "To create a new global currency made out of chocolate coins", + "To establish a network of trampoline parks in every major city" + ], + "feedback": [ + "That's right. The Bretton Woods system was established after World War II in order to address global economic instability and high levels of debt. It linked the value of other countries' currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate", + "Sweet idea, but not very practical. Or would you prefer your money to melt away even faster? Try again", + "Trampoline parks would have surely made for a great distraction of the public from the strange machinations of the Bretton Woods system. Have you considered applying as an advisor at the IMF or World Bank? Try again!" + ], + "question": "What was the main purpose of the Bretton Woods system", + "text": "After World War I and II, many countries were financially exhausted and did not have a lot of money. The United States had a lot of gold because they sold a lot of weapons and other military equipment to other countries during the wars. As a result, the United States controlled about two-thirds of the world's gold.\n\nIn order to fix the global economy, a new system was created where countries would link their own currencies to the value of the US dollar.\n\nThe US dollar, in turn, would be linked to the value of gold. This meant that the value of other countries' currencies would be based on the value of the US dollar, which was based on the amount of gold the United States had.\n", + "title": "What was the main purpose of the Bretton Woods system" + }, + "globalReserve": { + "answers": [ + "A type of money that is widely used in international trade and financial transactions", + "A currency made out of rainbow-colored paper and glitter", + "The currency of the nation that pays the biggest share of the World Trade Organization's budget" + ], + "feedback": [ + "Correct! A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted", + "While most banknotes are made of colorful pieces of paper with strings of glitter as security features in them, this is not what defines a global reserve currency. Try again", + "Surely this would benefit the WTO's funding immensely, but this is not how the global reserve currency is defined or chosen. Try again!" + ], + "question": "What is a global reserve currency", + "text": "A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted.\n\nChanges to the global reserve currency can have significant geopolitical implications, as it can affect the balance of power between countries.\n\nThe dominant global reserve currency has typically had a lifespan of several decades, with the US dollar serving as the dominant global reserve currency for much of the 20th century.\n", + "title": "What is a global reserve currency" } } } -] +} diff --git a/chapter-205-the-evolution-of-money-iii/205.01-lesson-converging-on-gold.json b/chapter-205-the-evolution-of-money-iii/205.01-lesson-converging-on-gold.json index 2958aec..cc4d8d8 100644 --- a/chapter-205-the-evolution-of-money-iii/205.01-lesson-converging-on-gold.json +++ b/chapter-205-the-evolution-of-money-iii/205.01-lesson-converging-on-gold.json @@ -1,22 +1,18 @@ { "convergingOnGold": { - "title": "Convergence on Gold", - "questions": { - "convergingOnGold": { - "answers": [ - "Because it cannot be destroyed or synthesized from other materials.", - "Because it is abundant and easy to find.", - "Because it is the most attractive and visually appealing metal." - ], - "feedback": [ - "Exactly**.** It's interesting to think about how the qualities of different materials, such as gold's durability and rarity, can make them more valuable and desirable as a form of money. Good job", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! While gold may have a certain aesthetic appeal, it's ultimately its functional qualities that make it a valuable form of money. Better luck with your next answer." - ], - "question": "Why did the free market choose gold as a form of money", - "text": "From all monetary metals, the free market ultimately chose gold as a form of money because it has two important qualities that keep its value stable over long periods of time and across many regions of the world:\n\n1\\) Gold cannot be destroyed, and\n\n2\\) Gold cannot be made from other materials.\n", - "title": "Why did the free market choose gold as a form of money" - } - } + "screen": "convergingOnGold", + "answers": [ + "Because it cannot be destroyed or synthesized from other materials.", + "Because it is abundant and easy to find.", + "Because it is the most attractive and visually appealing metal." + ], + "feedback": [ + "Exactly**.** It's interesting to think about how the qualities of different materials, such as gold's durability and rarity, can make them more valuable and desirable as a form of money. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! While gold may have a certain aesthetic appeal, it's ultimately its functional qualities that make it a valuable form of money. Better luck with your next answer." + ], + "question": "Why did the free market choose gold as a form of money", + "text": "From all monetary metals, the free market ultimately chose gold as a form of money because it has two important qualities that keep its value stable over long periods of time and across many regions of the world:\n\n1\\) Gold cannot be destroyed, and\n\n2\\) Gold cannot be made from other materials.\n", + "title": "Why did the free market choose gold as a form of money" } } diff --git a/chapter-205-the-evolution-of-money-iii/205.02-lesson-origins-of-paper-money.json b/chapter-205-the-evolution-of-money-iii/205.02-lesson-origins-of-paper-money.json index 4b7ee2c..b96b65a 100644 --- a/chapter-205-the-evolution-of-money-iii/205.02-lesson-origins-of-paper-money.json +++ b/chapter-205-the-evolution-of-money-iii/205.02-lesson-origins-of-paper-money.json @@ -1,22 +1,18 @@ { "originsOfPaperMoney": { - "title": "The Origins of Paper Money Backed by Gold", - "questions": { - "originsOfPaperMoney": { - "answers": [ - "To allow for the convenient exchange of gold in place of physically transporting it", - "To represent a promise to pay a debt", - "To transport large amounts of gold" - ], - "feedback": [ - "Congratulations! You're a gold exchange genius! Did you know that these paper notes were also known as \"bearer instruments,\" which means that they could be traded and redeemed by anyone in possession of them", - "Oh no, it looks like you've got a case of promissory confusion! Better luck next time", - "Transporting gold in paper form? That's a bold move." - ], - "question": "What were paper notes used for during the expansion of trade routes", - "text": "Gold can be made into coins or bars of a specific weight and purity. When trade routes expanded, it became riskier to transport large amounts of gold.\n\nAs a solution, paper notes from trusted banks that could be exchanged for gold were used. In 900 CE, Chinese merchants initiated the use of paper currency to avoid having to carry thousands of coins over long distances. They started trading paper receipts from custodians where they had deposited money or goods.\n\nIn the beginning these paper notes were personally registered, but they soon became a written order to pay the amount to whomever had it in their possession (bearer instrument). These notes can be seen as a predecessor to today's banknotes.\n", - "title": "What were paper notes used for during the expansion of trade routes" - } - } + "screen": "originsOfPaperMoney", + "answers": [ + "To allow for the convenient exchange of gold in place of physically transporting it", + "To represent a promise to pay a debt", + "To transport large amounts of gold" + ], + "feedback": [ + "Congratulations! You're a gold exchange genius! Did you know that these paper notes were also known as \"bearer instruments,\" which means that they could be traded and redeemed by anyone in possession of them", + "Oh no, it looks like you've got a case of promissory confusion! Better luck next time", + "Transporting gold in paper form? That's a bold move." + ], + "question": "What were paper notes used for during the expansion of trade routes", + "text": "Gold can be made into coins or bars of a specific weight and purity. When trade routes expanded, it became riskier to transport large amounts of gold.\n\nAs a solution, paper notes from trusted banks that could be exchanged for gold were used. In 900 CE, Chinese merchants initiated the use of paper currency to avoid having to carry thousands of coins over long distances. They started trading paper receipts from custodians where they had deposited money or goods.\n\nIn the beginning these paper notes were personally registered, but they soon became a written order to pay the amount to whomever had it in their possession (bearer instrument). These notes can be seen as a predecessor to today's banknotes.\n", + "title": "What were paper notes used for during the expansion of trade routes" } } diff --git a/chapter-205-the-evolution-of-money-iii/205.03-lesson-fractional-reserve.json b/chapter-205-the-evolution-of-money-iii/205.03-lesson-fractional-reserve.json index 40986a1..e90736f 100644 --- a/chapter-205-the-evolution-of-money-iii/205.03-lesson-fractional-reserve.json +++ b/chapter-205-the-evolution-of-money-iii/205.03-lesson-fractional-reserve.json @@ -1,22 +1,18 @@ { "fractionalReserve": { - "title": "The Invention of Fractional Reserve Banking", - "questions": { - "fractionalReserve": { - "answers": [ - "To allow people to earn money from their gold", - "To make it easier for banks to hold large amounts of gold", - "To make it easier for banks to make loans" - ], - "feedback": [ - "Congratulations! You're a banking history expert! Did you know that Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans", - "Hmm, it looks like you're a little off the mark. Better luck next time", - "Sorry, but it looks like you're mixing up your banking systems. Better luck next time!" - ], - "question": "Why did Fractional Reserve Banking develop", - "text": "Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans.\n\nOne reason this system developed is because people wanted to earn money from their gold, rather than paying to store it.\n\nThey could do this by allowing a bank or vault to lend out their gold and receiving interest payment in return.\n\nIf more people deposited their gold than wanted to take it back, the bank could make more profit by using the same gold as collateral for multiple loans, hence keeping only a fraction of loans in reserve.\n", - "title": "Why did Fractional Reserve Banking develop" - } - } + "screen": "fractionalReserve", + "answers": [ + "To allow people to earn money from their gold", + "To make it easier for banks to hold large amounts of gold", + "To make it easier for banks to make loans" + ], + "feedback": [ + "Congratulations! You're a banking history expert! Did you know that Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans", + "Hmm, it looks like you're a little off the mark. Better luck next time", + "Sorry, but it looks like you're mixing up your banking systems. Better luck next time!" + ], + "question": "Why did Fractional Reserve Banking develop", + "text": "Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans.\n\nOne reason this system developed is because people wanted to earn money from their gold, rather than paying to store it.\n\nThey could do this by allowing a bank or vault to lend out their gold and receiving interest payment in return.\n\nIf more people deposited their gold than wanted to take it back, the bank could make more profit by using the same gold as collateral for multiple loans, hence keeping only a fraction of loans in reserve.\n", + "title": "Why did Fractional Reserve Banking develop" } } diff --git a/chapter-205-the-evolution-of-money-iii/205.04-lesson-bank-run.json b/chapter-205-the-evolution-of-money-iii/205.04-lesson-bank-run.json index 99792f9..23f1dc8 100644 --- a/chapter-205-the-evolution-of-money-iii/205.04-lesson-bank-run.json +++ b/chapter-205-the-evolution-of-money-iii/205.04-lesson-bank-run.json @@ -1,22 +1,18 @@ { "bankRun": { - "title": "Problems of Fractional Reserve Banking", - "questions": { - "bankRun": { - "answers": [ - "A sudden drain of deposits en masse, leading to systemic fears and drying up of liquidity", - "A nice vacation for everyone", - "A sudden increase in the price of gasoline" - ], - "feedback": [ - "masse, leading to systemic fears and drying up of liquidity", - "Sorry, taking a vacation isn't quite the outcome we're looking for here. Better luck next time", - "Gas prices might fluctuate for a variety of reasons, but this particular scenario doesn't have much to do with it. Try again!" - ], - "question": "What is a potential outcome of banks issuing more paper notes than they held deposits", - "text": "Banks sometimes issued more paper notes than they had deposits, which could cause problems in the economy. If people started to doubt the solvency of a bank, they might rush to withdraw their money all at once before others do. This is called a bank run.\n\nThe sudden loss of deposits from the bank run could reveal that the bank was using too much leverage through Fractional Reserve Banking. This could cause a lack of liquidity and bring the whole financial system to a stop.\n", - "title": "What is a potential outcome of banks issuing more paper notes than they held deposits" - } - } + "screen": "bankRun", + "answers": [ + "A sudden drain of deposits en masse, leading to systemic fears and drying up of liquidity", + "A nice vacation for everyone", + "A sudden increase in the price of gasoline" + ], + "feedback": [ + "masse, leading to systemic fears and drying up of liquidity", + "Sorry, taking a vacation isn't quite the outcome we're looking for here. Better luck next time", + "Gas prices might fluctuate for a variety of reasons, but this particular scenario doesn't have much to do with it. Try again!" + ], + "question": "What is a potential outcome of banks issuing more paper notes than they held deposits", + "text": "Banks sometimes issued more paper notes than they had deposits, which could cause problems in the economy. If people started to doubt the solvency of a bank, they might rush to withdraw their money all at once before others do. This is called a bank run.\n\nThe sudden loss of deposits from the bank run could reveal that the bank was using too much leverage through Fractional Reserve Banking. This could cause a lack of liquidity and bring the whole financial system to a stop.\n", + "title": "What is a potential outcome of banks issuing more paper notes than they held deposits" } } diff --git a/chapter-205-the-evolution-of-money-iii/205.05-lesson-modern-central-banking.json b/chapter-205-the-evolution-of-money-iii/205.05-lesson-modern-central-banking.json index d749a47..850ea4a 100644 --- a/chapter-205-the-evolution-of-money-iii/205.05-lesson-modern-central-banking.json +++ b/chapter-205-the-evolution-of-money-iii/205.05-lesson-modern-central-banking.json @@ -1,22 +1,18 @@ { "modernCentralBanking": { - "title": "Modern Central Banking", - "questions": { - "modernCentralBanking": { - "answers": [ - "To create a unified national currency and provide a backup plan for other banks", - "To sell ice cream and provide a place for people to play games", - "To act as a personal stylist and wardrobe consultant for the royal family" - ], - "feedback": [ - "Congratulations, you got it right! Did you know that central banks also act as the \"lender of last resort,\" meaning they can give out money when needed to make sure people's deposits are secure", - "I'm sorry, but central banks do not sell ice cream or provide a place for people to play games. They have much more important responsibilities", - "I'm afraid you are mistaken. Central banks do not act as personal stylists or wardrobe consultants for the royal family. Try again!" - ], - "question": "What is the purpose of a central bank", - "text": "To counter the problem of bank runs, governments created their own banks called \"central banks.\"\n\nThese central banks have the special power to create money. They act as a backup plan for when commercial banks run out of reserves and need extra money to stay open.\n\nBecause of this function, central banks are also called the \"lenders of last resort,\" meaning they can create and give out money when commercial banks need liquidity to service withdrawals.\n", - "title": "What is the purpose of a central bank" - } - } + "screen": "modernCentralBanking", + "answers": [ + "To create a unified national currency and provide a backup plan for other banks", + "To sell ice cream and provide a place for people to play games", + "To act as a personal stylist and wardrobe consultant for the royal family" + ], + "feedback": [ + "Congratulations, you got it right! Did you know that central banks also act as the \"lender of last resort,\" meaning they can give out money when needed to make sure people's deposits are secure", + "I'm sorry, but central banks do not sell ice cream or provide a place for people to play games. They have much more important responsibilities", + "I'm afraid you are mistaken. Central banks do not act as personal stylists or wardrobe consultants for the royal family. Try again!" + ], + "question": "What is the purpose of a central bank", + "text": "To counter the problem of bank runs, governments created their own banks called \"central banks.\"\n\nThese central banks have the special power to create money. They act as a backup plan for when commercial banks run out of reserves and need extra money to stay open.\n\nBecause of this function, central banks are also called the \"lenders of last resort,\" meaning they can create and give out money when commercial banks need liquidity to service withdrawals.\n", + "title": "What is the purpose of a central bank" } } diff --git a/chapter-205-the-evolution-of-money-iii/205.06-lesson-gold-backed.json b/chapter-205-the-evolution-of-money-iii/205.06-lesson-gold-backed.json index d74ad60..8023210 100644 --- a/chapter-205-the-evolution-of-money-iii/205.06-lesson-gold-backed.json +++ b/chapter-205-the-evolution-of-money-iii/205.06-lesson-gold-backed.json @@ -1,22 +1,18 @@ { "goldBacked": { - "title": "From Gold to Gold-Backed", - "questions": { - "goldBacked": { - "answers": [ - "It made it difficult for governments to borrow money", - "It made it hard for people to save money in the bank", - "It required governments to hold a petting zoo in their treasury" - ], - "feedback": [ - "Yep! The gold standard made it difficult for governments to borrow money because they had to hold a certain amount of gold in reserve in order to issue a certain amount of currency", - "I'm sorry, but the gold standard did not make it hard for people to save money in the bank. It was actually a problem for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves", - "An amusing idea, but nonsense nevertheless! Try again." - ], - "question": "What was the main problem with the gold standard system for governments and citizens", - "text": "In the past, some governments linked the value of their currency to a specific amount of gold, a system known as a \"gold standard.\" This meant that the government had to hold a certain amount of gold in reserve in order to issue a certain amount of currency.\n\nThis system limited the government's ability to borrow money because they could not simply print more currency to cover the cost of borrowing. Governments often borrowed money to finance wars or other expensive projects, but the gold standard made it difficult for them to do so without first accumulating enough gold to back the new currency they wanted to issue.\n\nThe gold standard was also problematic for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves.\n", - "title": "What was the main problem with the gold standard system for governments and citizens" - } - } + "screen": "goldBacked", + "answers": [ + "It made it difficult for governments to borrow money", + "It made it hard for people to save money in the bank", + "It required governments to hold a petting zoo in their treasury" + ], + "feedback": [ + "Yep! The gold standard made it difficult for governments to borrow money because they had to hold a certain amount of gold in reserve in order to issue a certain amount of currency", + "I'm sorry, but the gold standard did not make it hard for people to save money in the bank. It was actually a problem for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves", + "An amusing idea, but nonsense nevertheless! Try again." + ], + "question": "What was the main problem with the gold standard system for governments and citizens", + "text": "In the past, some governments linked the value of their currency to a specific amount of gold, a system known as a \"gold standard.\" This meant that the government had to hold a certain amount of gold in reserve in order to issue a certain amount of currency.\n\nThis system limited the government's ability to borrow money because they could not simply print more currency to cover the cost of borrowing. Governments often borrowed money to finance wars or other expensive projects, but the gold standard made it difficult for them to do so without first accumulating enough gold to back the new currency they wanted to issue.\n\nThe gold standard was also problematic for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves.\n", + "title": "What was the main problem with the gold standard system for governments and citizens" } } diff --git a/chapter-205-the-evolution-of-money-iii/205.07-lesson-bretton-woords.json b/chapter-205-the-evolution-of-money-iii/205.07-lesson-bretton-woords.json index 4bb1031..6ee3054 100644 --- a/chapter-205-the-evolution-of-money-iii/205.07-lesson-bretton-woords.json +++ b/chapter-205-the-evolution-of-money-iii/205.07-lesson-bretton-woords.json @@ -1,22 +1,18 @@ { "brettonWoods": { - "title": "The Bretton Woods System", - "questions": { - "brettonWoods": { - "answers": [ - "To link the value of other countries' currencies to the value of gold through the US dollar", - "To create a new global currency made out of chocolate coins", - "To establish a network of trampoline parks in every major city" - ], - "feedback": [ - "That's right. The Bretton Woods system was established after World War II in order to address global economic instability and high levels of debt. It linked the value of other countries' currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate", - "Sweet idea, but not very practical. Or would you prefer your money to melt away even faster? Try again", - "Trampoline parks would have surely made for a great distraction of the public from the strange machinations of the Bretton Woods system. Have you considered applying as an advisor at the IMF or World Bank? Try again!" - ], - "question": "What was the main purpose of the Bretton Woods system", - "text": "After World War I and II, many countries were financially exhausted and did not have a lot of money. The United States had a lot of gold because they sold a lot of weapons and other military equipment to other countries during the wars. As a result, the United States controlled about two-thirds of the world's gold.\n\nIn order to fix the global economy, a new system was created where countries would link their own currencies to the value of the US dollar.\n\nThe US dollar, in turn, would be linked to the value of gold. This meant that the value of other countries' currencies would be based on the value of the US dollar, which was based on the amount of gold the United States had.\n", - "title": "What was the main purpose of the Bretton Woods system" - } - } + "screen": "brettonWoods", + "answers": [ + "To link the value of other countries' currencies to the value of gold through the US dollar", + "To create a new global currency made out of chocolate coins", + "To establish a network of trampoline parks in every major city" + ], + "feedback": [ + "That's right. The Bretton Woods system was established after World War II in order to address global economic instability and high levels of debt. It linked the value of other countries' currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate", + "Sweet idea, but not very practical. Or would you prefer your money to melt away even faster? Try again", + "Trampoline parks would have surely made for a great distraction of the public from the strange machinations of the Bretton Woods system. Have you considered applying as an advisor at the IMF or World Bank? Try again!" + ], + "question": "What was the main purpose of the Bretton Woods system", + "text": "After World War I and II, many countries were financially exhausted and did not have a lot of money. The United States had a lot of gold because they sold a lot of weapons and other military equipment to other countries during the wars. As a result, the United States controlled about two-thirds of the world's gold.\n\nIn order to fix the global economy, a new system was created where countries would link their own currencies to the value of the US dollar.\n\nThe US dollar, in turn, would be linked to the value of gold. This meant that the value of other countries' currencies would be based on the value of the US dollar, which was based on the amount of gold the United States had.\n", + "title": "What was the main purpose of the Bretton Woods system" } } diff --git a/chapter-205-the-evolution-of-money-iii/205.08-lesson-global-reserve.json b/chapter-205-the-evolution-of-money-iii/205.08-lesson-global-reserve.json index 0c1ad3b..9925c07 100644 --- a/chapter-205-the-evolution-of-money-iii/205.08-lesson-global-reserve.json +++ b/chapter-205-the-evolution-of-money-iii/205.08-lesson-global-reserve.json @@ -1,22 +1,18 @@ { "globalReserve": { - "title": "The Global Reserve Currency", - "questions": { - "globalReserve": { - "answers": [ - "A type of money that is widely used in international trade and financial transactions", - "A currency made out of rainbow-colored paper and glitter", - "The currency of the nation that pays the biggest share of the World Trade Organization's budget" - ], - "feedback": [ - "Correct! A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted", - "While most banknotes are made of colorful pieces of paper with strings of glitter as security features in them, this is not what defines a global reserve currency. Try again", - "Surely this would benefit the WTO's funding immensely, but this is not how the global reserve currency is defined or chosen. Try again!" - ], - "question": "What is a global reserve currency", - "text": "A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted.\n\nChanges to the global reserve currency can have significant geopolitical implications, as it can affect the balance of power between countries.\n\nThe dominant global reserve currency has typically had a lifespan of several decades, with the US dollar serving as the dominant global reserve currency for much of the 20th century.\n", - "title": "What is a global reserve currency" - } - } + "screen": "globalReserve", + "answers": [ + "A type of money that is widely used in international trade and financial transactions", + "A currency made out of rainbow-colored paper and glitter", + "The currency of the nation that pays the biggest share of the World Trade Organization's budget" + ], + "feedback": [ + "Correct! A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted", + "While most banknotes are made of colorful pieces of paper with strings of glitter as security features in them, this is not what defines a global reserve currency. Try again", + "Surely this would benefit the WTO's funding immensely, but this is not how the global reserve currency is defined or chosen. Try again!" + ], + "question": "What is a global reserve currency", + "text": "A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted.\n\nChanges to the global reserve currency can have significant geopolitical implications, as it can affect the balance of power between countries.\n\nThe dominant global reserve currency has typically had a lifespan of several decades, with the US dollar serving as the dominant global reserve currency for much of the 20th century.\n", + "title": "What is a global reserve currency" } } diff --git a/chapter-206-the-evolution-of-money-iv/206-combined.json b/chapter-206-the-evolution-of-money-iv/206-combined.json index 911ca34..139e189 100644 --- a/chapter-206-the-evolution-of-money-iv/206-combined.json +++ b/chapter-206-the-evolution-of-money-iv/206-combined.json @@ -1,178 +1,127 @@ -[ - { - "nixonShock": { - "title": "The Nixon Shock", - "questions": { - "nixonShock": { - "answers": [ - "It ended and was replaced by a new monetary system based on floating exchange rates", - "It became a popular TV game show", - "It was turned into a giant roller coaster ride" - ], - "feedback": [ - "Correct! In 1971, President Nixon directed the US Treasury Secretary to stop allowing foreign governments to exchange their dollars for gold", - "Not quite, but a game show version of the Bretton Woods system sounds like it could be entertaining", - "I see what you did there, but this isn't the correct answer here. Try again!" - ], - "question": "What happened to the Bretton Woods system in 1971", - "text": "The Bretton Woods system was a monetary system established after World War II in order to address global economic instability and high levels of debt.\n\nUnder this system, many countries pegged their own currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate. This meant that the value of other countries' currencies was indirectly tied to the value of gold through the US dollar.\n\nIn 1971, United States President Richard Nixon directed the US Treasury to stop allowing foreign governments to exchange their dollars for gold, a process known as \"convertibility.\"\n\nThe sudden end of convertibility of dollars for gold shocked the world and became known as the Nixon Shock, effectively ending the Bretton Woods system fixed exchange rates. It marked the beginning of a new monetary system based on floating exchange rates.\n", - "title": "What happened to the Bretton Woods system in 1971" - } - } - } - }, - { - "fiatEra": { - "title": "The Fiat Era", - "questions": { - "fiatEra": { - "answers": [ - "A currency issued by a government decree", - "A type of currency that is only accepted by merchants who love pizza", - "A currency made out of precious gems and metals" - ], - "feedback": [ - "Good job. Fiat money, such as Federal Reserve notes, is a type of currency issued by a government that is not directly exchangeable for a fixed amount of something else, like gold or silver. Its value comes from the fact that the government says it is valuable and people trust that they will be able to use it to buy things", - "Not quite, but a currency that is only accepted by pizza-loving merchants sounds like it could be a delicious way to pay for things", - "Nope, but a currency made out of precious gems and metals would definitely be shiny and eye-catching." - ], - "question": "What does the word \"fiat\" mean when it is used to talk about money", - "text": "\"Fiat\" is a word that comes from Latin and means \"let it be done.\" When it is used to talk about money, it means that a government is creating a currency by decree alone.\n\nSince the Nixon Shock, fiat money is not backed by gold or silver and neither can it be directly converted for a fixed amount of gold, as it used to be before.\n\nThis means that their value comes from the fact that the government says they are valuable and that people trust that they will be able to use them to buy things.\n\nIn addition, governments often make it a law (legal tender) that merchants have to accept this type of fiat currency and that it is the only type of currency that can be used to pay taxes.\n", - "title": "What does the word \"fiat\" mean when it is used to talk about money" - } - } - } - }, - { - "digitalFiat": { - "title": "Digital Fiat", - "questions": { - "digitalFiat": { - "answers": [ - "A government issued money that exists only in digital form, like on a computer or phone", - "A type of currency that can only be used to buy things in the internet", - "A currency that can only be sent by email" - ], - "feedback": [ - "Good job. Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins, and is becoming increasingly popular due to its lower costs, faster speeds, and increased capabilities for surveillance", - "Not quite. While digital fiat is digital like the internet, it is also widely accepted at brick and mortar merchants. Try again", - "Nope, you guessed wrong. The use of such a currency would be extremely limited and doesn't exist to our knowledge. Try again!" - ], - "question": "What is digital fiat", - "text": "Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins.\n\nDigital fiat became possible with the proliferation of digital communication networks, like the internet, and the growth of consumer devices like computers and phones that can connect to these networks. Standardized payment protocols, which are established ways of making payments online, also played a role in the emergence of digital fiat.\n\nDigital fiat is increasingly replacing physical fiat due to its lower costs, faster speeds, and increased capabilities for surveillance. In other words, it is cheaper and faster to use digital fiat and it is easier to track transactions made with digital fiat.\n", - "title": "What is digital fiat" - } - } - } - }, - { - "plasticCredit": { - "title": "Plastic Credit", - "questions": { - "plasticCredit": { - "answers": [ - "A type of payment card that allows people to borrow money to pay for things", - "A card that grants the holder special powers, like the ability to fly", - "A card that allows people to pay for things by waving their hand over a sensor" - ], - "feedback": [ - "Correct. A credit card is a type of payment card that allows people to borrow money from the credit card company to pay for things now, rather than saving up money to pay for things later. There are about three billion credit cards in use around the world today", - "Not quite, but a credit card that grants special powers like the ability to fly sounds like it could be a lot of fun", - "Nope, but a credit card that allows people to pay for things by waving their hand over a sensor sounds like something out of a science fiction movie, not real life." - ], - "question": "What is a credit card", - "text": "The credit card is a type of payment card that allows people to borrow money to pay for things. When people use credit cards, they are borrowing money from the credit card company to pay for things now, rather than saving up money to pay for things later.\n\nThis has gradually normalized the act of borrowing for consumption, something that impacts the time preference of users. Instead of waiting to save up the money, the invention of credit cards has made it more common for people to borrow money to buy things they want right away\n\nToday, there are about three billion credit cards in use around the world.\n", - "title": "What is a credit card" - } - } - } - }, - { - "doubleSpendProblem": { - "title": "The Double Spending Problem", - "questions": { - "doubleSpendProblem": { - "answers": [ - "The ability to ensure that the same digital unit of money cannot be spent more than once by its owner", - "The desire to create a digital currency that could only be spent on Mars", - "The idea of rewarding honesty and making dishonesty very costly" - ], - "feedback": [ - "Good job. In the digital world, where it is easy to copy things, it is important to make sure that the same digital unit of money (like a digital coin) cannot be spent more than once by its owner. This was a key factor in the creation of Bitcoin, as it is important for a monetary system that works without a central authority (like a government)", - "Not quite, but a digital currency that could only be spent on Mars sounds like it could be a fun way to support the colonization of the red planet", - "Nope, but the idea of rewarding honesty and making dishonesty very costly is a key factor in the creation of any monetary system, as it helps to ensure trust and cooperation among participants." - ], - "question": "What was a key factor in the creation of Bitcoin", - "text": "In the digital world, it is easy to copy things, so it is important to make sure that the same digital unit of money cannot be spent more than once by its owner.\n\nIn a monetary system with a central authority (like a government), this problem is trivially solved by keeping a ledger of transactions managed by the central authority. However, this normally represents a single point of failure from both availability and trust viewpoints.\n\nIn a decentralized system, the double-spending problem is significantly harder to solve. Many people have tried to create digital money that is not controlled by a government, but they have all had their own unique challenges.\n\nSatoshi Nakamoto took all of these lessons into account and was the first to solve the double spending problem with the implementation of Bitcoin by creating a decentralized system that rewards honesty and makes it very costly to be dishonest.\n", - "title": "What was a key factor in the creation of Bitcoin" - } - } - } - }, - { - "satoshisBreakthrough": { - "title": "Satoshi's Breakthrough", - "questions": { - "satoshisBreakthrough": { - "answers": [ - "The double spending problem", - "The problem of double coincidence of wants", - "The halving problem" - ], - "feedback": [ - "Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once", - "Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again", - "Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!" - ], - "question": "Which problem did Satoshi have to solve to create Bitcoin", - "text": "Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.\n\nHis solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.\n", - "title": "Which problem did Satoshi have to solve to create Bitcoin" - } - } - } - }, - { - "nativelyDigital": { - "title": "Purpose-built for the Digital Age", - "questions": { - "nativelyDigital": { - "answers": [ - "Digital fiat money is based on a product from the industrial age, while Bitcoin is a purpose-built money for the digital age", - "Digital fiat money is open-source, while Bitcoin is a closed system", - "Digital fiat money is designed to increase in value over time, while Bitcoin is designed to lose value" - ], - "feedback": [ - "for the digital age", - "It seems you got things mixed up. It's actually the other way around. Try again", - "Sorry, that's not quite right. Bitcoin is likely to increase in value over time due to its strictly fixed supply and growing deman, while inflation decreases the value of fiat currencies quite reliably." - ], - "question": "What is the main difference between digital fiat money and Bitcoin", - "text": "Digital fiat money is a digital version of a product that was designed for the industrial age. It has all of the same problems and limitations as the original product. It is a closed system that is heavily controlled and designed to lose value over time.\n\nBitcoin is a type of digital money that was specifically designed for the digital age. It can be improved and updated, and anyone can see and change the code that it is based on. It benefits from the ideas and creativity of anyone who works on it.\n", - "title": "What is the main difference between digital fiat money and Bitcoin" - } - } - } - }, - { - "CBDCs": { - "title": "Central Bank Digital Currencies", - "questions": { - "CBDCs": { - "answers": [ - "To provide surveillance and censorship capabilities to the issuer", - "To compete with Bitcoin as a store of value", - "To create a decentralized and permissionless digital currency" - ], - "feedback": [ - "That's correct! CBDCs are like the Big Brother of digital currencies, designed to provide surveillance and censorship capabilities to the issuer. Creepy, but correct", - "Haha, sorry but no. While Bitcoin and CBDCs are both digital currencies, they have very different purposes and characteristics. CBDCs are issued and backed by central banks, while Bitcoin is decentralized and not controlled by any government or financial institution", - "Oh boy, that's a creative answer but unfortunately not quite right. CBDCs are not designed to be decentralized or permissionless like Bitcoin. In fact, they are issued and backed by central banks, and their main purpose is to be the ultimate tool for control in the digital age. Better luck next time!" - ], - "question": "What is the main purpose of central bank digital currencies (CBDCs)", - "text": "Central bank digital currencies (CBDCs) are digital versions of traditional currency that are issued and backed by a central bank.\n\nCBDCs are not decentralized or permissionless like Bitcoin, and are instead intended to compete with other forms of digital payment methods for market dominance.\n\nOne of the main reasons for the development of CBDCs is the surveillance and censorship capabilities they provide the issuer.\n\nAdditionally, in an age of negative real interest rates (when the inflation rate is higher than the interest rate), the widespread adoption of CBDCs often goes hand in hand with the phasing out of physical cash, which can lead to the devaluation of the currency in real terms.\n", - "title": "What is the main purpose of central bank digital currencies (CBDCs)" - } +{ + "TheEvolutionofMoneyIV": { + "title": "The Evolution of Money IV", + "questions": { + "nixonShock": { + "answers": [ + "It ended and was replaced by a new monetary system based on floating exchange rates", + "It became a popular TV game show", + "It was turned into a giant roller coaster ride" + ], + "feedback": [ + "Correct! In 1971, President Nixon directed the US Treasury Secretary to stop allowing foreign governments to exchange their dollars for gold", + "Not quite, but a game show version of the Bretton Woods system sounds like it could be entertaining", + "I see what you did there, but this isn't the correct answer here. Try again!" + ], + "question": "What happened to the Bretton Woods system in 1971", + "text": "The Bretton Woods system was a monetary system established after World War II in order to address global economic instability and high levels of debt.\n\nUnder this system, many countries pegged their own currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate. This meant that the value of other countries' currencies was indirectly tied to the value of gold through the US dollar.\n\nIn 1971, United States President Richard Nixon directed the US Treasury to stop allowing foreign governments to exchange their dollars for gold, a process known as \"convertibility.\"\n\nThe sudden end of convertibility of dollars for gold shocked the world and became known as the Nixon Shock, effectively ending the Bretton Woods system fixed exchange rates. It marked the beginning of a new monetary system based on floating exchange rates.\n", + "title": "What happened to the Bretton Woods system in 1971" + }, + "fiatEra": { + "answers": [ + "A currency issued by a government decree", + "A type of currency that is only accepted by merchants who love pizza", + "A currency made out of precious gems and metals" + ], + "feedback": [ + "Good job. Fiat money, such as Federal Reserve notes, is a type of currency issued by a government that is not directly exchangeable for a fixed amount of something else, like gold or silver. Its value comes from the fact that the government says it is valuable and people trust that they will be able to use it to buy things", + "Not quite, but a currency that is only accepted by pizza-loving merchants sounds like it could be a delicious way to pay for things", + "Nope, but a currency made out of precious gems and metals would definitely be shiny and eye-catching." + ], + "question": "What does the word \"fiat\" mean when it is used to talk about money", + "text": "\"Fiat\" is a word that comes from Latin and means \"let it be done.\" When it is used to talk about money, it means that a government is creating a currency by decree alone.\n\nSince the Nixon Shock, fiat money is not backed by gold or silver and neither can it be directly converted for a fixed amount of gold, as it used to be before.\n\nThis means that their value comes from the fact that the government says they are valuable and that people trust that they will be able to use them to buy things.\n\nIn addition, governments often make it a law (legal tender) that merchants have to accept this type of fiat currency and that it is the only type of currency that can be used to pay taxes.\n", + "title": "What does the word \"fiat\" mean when it is used to talk about money" + }, + "digitalFiat": { + "answers": [ + "A government issued money that exists only in digital form, like on a computer or phone", + "A type of currency that can only be used to buy things in the internet", + "A currency that can only be sent by email" + ], + "feedback": [ + "Good job. Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins, and is becoming increasingly popular due to its lower costs, faster speeds, and increased capabilities for surveillance", + "Not quite. While digital fiat is digital like the internet, it is also widely accepted at brick and mortar merchants. Try again", + "Nope, you guessed wrong. The use of such a currency would be extremely limited and doesn't exist to our knowledge. Try again!" + ], + "question": "What is digital fiat", + "text": "Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins.\n\nDigital fiat became possible with the proliferation of digital communication networks, like the internet, and the growth of consumer devices like computers and phones that can connect to these networks. Standardized payment protocols, which are established ways of making payments online, also played a role in the emergence of digital fiat.\n\nDigital fiat is increasingly replacing physical fiat due to its lower costs, faster speeds, and increased capabilities for surveillance. In other words, it is cheaper and faster to use digital fiat and it is easier to track transactions made with digital fiat.\n", + "title": "What is digital fiat" + }, + "plasticCredit": { + "answers": [ + "A type of payment card that allows people to borrow money to pay for things", + "A card that grants the holder special powers, like the ability to fly", + "A card that allows people to pay for things by waving their hand over a sensor" + ], + "feedback": [ + "Correct. A credit card is a type of payment card that allows people to borrow money from the credit card company to pay for things now, rather than saving up money to pay for things later. There are about three billion credit cards in use around the world today", + "Not quite, but a credit card that grants special powers like the ability to fly sounds like it could be a lot of fun", + "Nope, but a credit card that allows people to pay for things by waving their hand over a sensor sounds like something out of a science fiction movie, not real life." + ], + "question": "What is a credit card", + "text": "The credit card is a type of payment card that allows people to borrow money to pay for things. When people use credit cards, they are borrowing money from the credit card company to pay for things now, rather than saving up money to pay for things later.\n\nThis has gradually normalized the act of borrowing for consumption, something that impacts the time preference of users. Instead of waiting to save up the money, the invention of credit cards has made it more common for people to borrow money to buy things they want right away\n\nToday, there are about three billion credit cards in use around the world.\n", + "title": "What is a credit card" + }, + "doubleSpendProblem": { + "answers": [ + "The ability to ensure that the same digital unit of money cannot be spent more than once by its owner", + "The desire to create a digital currency that could only be spent on Mars", + "The idea of rewarding honesty and making dishonesty very costly" + ], + "feedback": [ + "Good job. In the digital world, where it is easy to copy things, it is important to make sure that the same digital unit of money (like a digital coin) cannot be spent more than once by its owner. This was a key factor in the creation of Bitcoin, as it is important for a monetary system that works without a central authority (like a government)", + "Not quite, but a digital currency that could only be spent on Mars sounds like it could be a fun way to support the colonization of the red planet", + "Nope, but the idea of rewarding honesty and making dishonesty very costly is a key factor in the creation of any monetary system, as it helps to ensure trust and cooperation among participants." + ], + "question": "What was a key factor in the creation of Bitcoin", + "text": "In the digital world, it is easy to copy things, so it is important to make sure that the same digital unit of money cannot be spent more than once by its owner.\n\nIn a monetary system with a central authority (like a government), this problem is trivially solved by keeping a ledger of transactions managed by the central authority. However, this normally represents a single point of failure from both availability and trust viewpoints.\n\nIn a decentralized system, the double-spending problem is significantly harder to solve. Many people have tried to create digital money that is not controlled by a government, but they have all had their own unique challenges.\n\nSatoshi Nakamoto took all of these lessons into account and was the first to solve the double spending problem with the implementation of Bitcoin by creating a decentralized system that rewards honesty and makes it very costly to be dishonest.\n", + "title": "What was a key factor in the creation of Bitcoin" + }, + "satoshisBreakthrough": { + "answers": [ + "The double spending problem", + "The problem of double coincidence of wants", + "The halving problem" + ], + "feedback": [ + "Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once", + "Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again", + "Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!" + ], + "question": "Which problem did Satoshi have to solve to create Bitcoin", + "text": "Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.\n\nHis solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.\n", + "title": "Which problem did Satoshi have to solve to create Bitcoin" + }, + "nativelyDigital": { + "answers": [ + "Digital fiat money is based on a product from the industrial age, while Bitcoin is a purpose-built money for the digital age", + "Digital fiat money is open-source, while Bitcoin is a closed system", + "Digital fiat money is designed to increase in value over time, while Bitcoin is designed to lose value" + ], + "feedback": [ + "for the digital age", + "It seems you got things mixed up. It's actually the other way around. Try again", + "Sorry, that's not quite right. Bitcoin is likely to increase in value over time due to its strictly fixed supply and growing deman, while inflation decreases the value of fiat currencies quite reliably." + ], + "question": "What is the main difference between digital fiat money and Bitcoin", + "text": "Digital fiat money is a digital version of a product that was designed for the industrial age. It has all of the same problems and limitations as the original product. It is a closed system that is heavily controlled and designed to lose value over time.\n\nBitcoin is a type of digital money that was specifically designed for the digital age. It can be improved and updated, and anyone can see and change the code that it is based on. It benefits from the ideas and creativity of anyone who works on it.\n", + "title": "What is the main difference between digital fiat money and Bitcoin" + }, + "CBDCs": { + "answers": [ + "To provide surveillance and censorship capabilities to the issuer", + "To compete with Bitcoin as a store of value", + "To create a decentralized and permissionless digital currency" + ], + "feedback": [ + "That's correct! CBDCs are like the Big Brother of digital currencies, designed to provide surveillance and censorship capabilities to the issuer. Creepy, but correct", + "Haha, sorry but no. While Bitcoin and CBDCs are both digital currencies, they have very different purposes and characteristics. CBDCs are issued and backed by central banks, while Bitcoin is decentralized and not controlled by any government or financial institution", + "Oh boy, that's a creative answer but unfortunately not quite right. CBDCs are not designed to be decentralized or permissionless like Bitcoin. In fact, they are issued and backed by central banks, and their main purpose is to be the ultimate tool for control in the digital age. Better luck next time!" + ], + "question": "What is the main purpose of central bank digital currencies (CBDCs)", + "text": "Central bank digital currencies (CBDCs) are digital versions of traditional currency that are issued and backed by a central bank.\n\nCBDCs are not decentralized or permissionless like Bitcoin, and are instead intended to compete with other forms of digital payment methods for market dominance.\n\nOne of the main reasons for the development of CBDCs is the surveillance and censorship capabilities they provide the issuer.\n\nAdditionally, in an age of negative real interest rates (when the inflation rate is higher than the interest rate), the widespread adoption of CBDCs often goes hand in hand with the phasing out of physical cash, which can lead to the devaluation of the currency in real terms.\n", + "title": "What is the main purpose of central bank digital currencies (CBDCs)" } } } -] +} diff --git a/chapter-206-the-evolution-of-money-iv/206.01-lesson-nixon-shock.json b/chapter-206-the-evolution-of-money-iv/206.01-lesson-nixon-shock.json index c68e006..a5194eb 100644 --- a/chapter-206-the-evolution-of-money-iv/206.01-lesson-nixon-shock.json +++ b/chapter-206-the-evolution-of-money-iv/206.01-lesson-nixon-shock.json @@ -1,22 +1,18 @@ { "nixonShock": { - "title": "The Nixon Shock", - "questions": { - "nixonShock": { - "answers": [ - "It ended and was replaced by a new monetary system based on floating exchange rates", - "It became a popular TV game show", - "It was turned into a giant roller coaster ride" - ], - "feedback": [ - "Correct! In 1971, President Nixon directed the US Treasury Secretary to stop allowing foreign governments to exchange their dollars for gold", - "Not quite, but a game show version of the Bretton Woods system sounds like it could be entertaining", - "I see what you did there, but this isn't the correct answer here. Try again!" - ], - "question": "What happened to the Bretton Woods system in 1971", - "text": "The Bretton Woods system was a monetary system established after World War II in order to address global economic instability and high levels of debt.\n\nUnder this system, many countries pegged their own currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate. This meant that the value of other countries' currencies was indirectly tied to the value of gold through the US dollar.\n\nIn 1971, United States President Richard Nixon directed the US Treasury to stop allowing foreign governments to exchange their dollars for gold, a process known as \"convertibility.\"\n\nThe sudden end of convertibility of dollars for gold shocked the world and became known as the Nixon Shock, effectively ending the Bretton Woods system fixed exchange rates. It marked the beginning of a new monetary system based on floating exchange rates.\n", - "title": "What happened to the Bretton Woods system in 1971" - } - } + "screen": "nixonShock", + "answers": [ + "It ended and was replaced by a new monetary system based on floating exchange rates", + "It became a popular TV game show", + "It was turned into a giant roller coaster ride" + ], + "feedback": [ + "Correct! In 1971, President Nixon directed the US Treasury Secretary to stop allowing foreign governments to exchange their dollars for gold", + "Not quite, but a game show version of the Bretton Woods system sounds like it could be entertaining", + "I see what you did there, but this isn't the correct answer here. Try again!" + ], + "question": "What happened to the Bretton Woods system in 1971", + "text": "The Bretton Woods system was a monetary system established after World War II in order to address global economic instability and high levels of debt.\n\nUnder this system, many countries pegged their own currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate. This meant that the value of other countries' currencies was indirectly tied to the value of gold through the US dollar.\n\nIn 1971, United States President Richard Nixon directed the US Treasury to stop allowing foreign governments to exchange their dollars for gold, a process known as \"convertibility.\"\n\nThe sudden end of convertibility of dollars for gold shocked the world and became known as the Nixon Shock, effectively ending the Bretton Woods system fixed exchange rates. It marked the beginning of a new monetary system based on floating exchange rates.\n", + "title": "What happened to the Bretton Woods system in 1971" } } diff --git a/chapter-206-the-evolution-of-money-iv/206.02-lesson-fiat-era.json b/chapter-206-the-evolution-of-money-iv/206.02-lesson-fiat-era.json index 231f2d1..3fa0829 100644 --- a/chapter-206-the-evolution-of-money-iv/206.02-lesson-fiat-era.json +++ b/chapter-206-the-evolution-of-money-iv/206.02-lesson-fiat-era.json @@ -1,22 +1,18 @@ { "fiatEra": { - "title": "The Fiat Era", - "questions": { - "fiatEra": { - "answers": [ - "A currency issued by a government decree", - "A type of currency that is only accepted by merchants who love pizza", - "A currency made out of precious gems and metals" - ], - "feedback": [ - "Good job. Fiat money, such as Federal Reserve notes, is a type of currency issued by a government that is not directly exchangeable for a fixed amount of something else, like gold or silver. Its value comes from the fact that the government says it is valuable and people trust that they will be able to use it to buy things", - "Not quite, but a currency that is only accepted by pizza-loving merchants sounds like it could be a delicious way to pay for things", - "Nope, but a currency made out of precious gems and metals would definitely be shiny and eye-catching." - ], - "question": "What does the word \"fiat\" mean when it is used to talk about money", - "text": "\"Fiat\" is a word that comes from Latin and means \"let it be done.\" When it is used to talk about money, it means that a government is creating a currency by decree alone.\n\nSince the Nixon Shock, fiat money is not backed by gold or silver and neither can it be directly converted for a fixed amount of gold, as it used to be before.\n\nThis means that their value comes from the fact that the government says they are valuable and that people trust that they will be able to use them to buy things.\n\nIn addition, governments often make it a law (legal tender) that merchants have to accept this type of fiat currency and that it is the only type of currency that can be used to pay taxes.\n", - "title": "What does the word \"fiat\" mean when it is used to talk about money" - } - } + "screen": "fiatEra", + "answers": [ + "A currency issued by a government decree", + "A type of currency that is only accepted by merchants who love pizza", + "A currency made out of precious gems and metals" + ], + "feedback": [ + "Good job. Fiat money, such as Federal Reserve notes, is a type of currency issued by a government that is not directly exchangeable for a fixed amount of something else, like gold or silver. Its value comes from the fact that the government says it is valuable and people trust that they will be able to use it to buy things", + "Not quite, but a currency that is only accepted by pizza-loving merchants sounds like it could be a delicious way to pay for things", + "Nope, but a currency made out of precious gems and metals would definitely be shiny and eye-catching." + ], + "question": "What does the word \"fiat\" mean when it is used to talk about money", + "text": "\"Fiat\" is a word that comes from Latin and means \"let it be done.\" When it is used to talk about money, it means that a government is creating a currency by decree alone.\n\nSince the Nixon Shock, fiat money is not backed by gold or silver and neither can it be directly converted for a fixed amount of gold, as it used to be before.\n\nThis means that their value comes from the fact that the government says they are valuable and that people trust that they will be able to use them to buy things.\n\nIn addition, governments often make it a law (legal tender) that merchants have to accept this type of fiat currency and that it is the only type of currency that can be used to pay taxes.\n", + "title": "What does the word \"fiat\" mean when it is used to talk about money" } } diff --git a/chapter-206-the-evolution-of-money-iv/206.03-lesson-digital-fiat.json b/chapter-206-the-evolution-of-money-iv/206.03-lesson-digital-fiat.json index 7c50b06..90e503a 100644 --- a/chapter-206-the-evolution-of-money-iv/206.03-lesson-digital-fiat.json +++ b/chapter-206-the-evolution-of-money-iv/206.03-lesson-digital-fiat.json @@ -1,22 +1,18 @@ { "digitalFiat": { - "title": "Digital Fiat", - "questions": { - "digitalFiat": { - "answers": [ - "A government issued money that exists only in digital form, like on a computer or phone", - "A type of currency that can only be used to buy things in the internet", - "A currency that can only be sent by email" - ], - "feedback": [ - "Good job. Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins, and is becoming increasingly popular due to its lower costs, faster speeds, and increased capabilities for surveillance", - "Not quite. While digital fiat is digital like the internet, it is also widely accepted at brick and mortar merchants. Try again", - "Nope, you guessed wrong. The use of such a currency would be extremely limited and doesn't exist to our knowledge. Try again!" - ], - "question": "What is digital fiat", - "text": "Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins.\n\nDigital fiat became possible with the proliferation of digital communication networks, like the internet, and the growth of consumer devices like computers and phones that can connect to these networks. Standardized payment protocols, which are established ways of making payments online, also played a role in the emergence of digital fiat.\n\nDigital fiat is increasingly replacing physical fiat due to its lower costs, faster speeds, and increased capabilities for surveillance. In other words, it is cheaper and faster to use digital fiat and it is easier to track transactions made with digital fiat.\n", - "title": "What is digital fiat" - } - } + "screen": "digitalFiat", + "answers": [ + "A government issued money that exists only in digital form, like on a computer or phone", + "A type of currency that can only be used to buy things in the internet", + "A currency that can only be sent by email" + ], + "feedback": [ + "Good job. Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins, and is becoming increasingly popular due to its lower costs, faster speeds, and increased capabilities for surveillance", + "Not quite. While digital fiat is digital like the internet, it is also widely accepted at brick and mortar merchants. Try again", + "Nope, you guessed wrong. The use of such a currency would be extremely limited and doesn't exist to our knowledge. Try again!" + ], + "question": "What is digital fiat", + "text": "Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins.\n\nDigital fiat became possible with the proliferation of digital communication networks, like the internet, and the growth of consumer devices like computers and phones that can connect to these networks. Standardized payment protocols, which are established ways of making payments online, also played a role in the emergence of digital fiat.\n\nDigital fiat is increasingly replacing physical fiat due to its lower costs, faster speeds, and increased capabilities for surveillance. In other words, it is cheaper and faster to use digital fiat and it is easier to track transactions made with digital fiat.\n", + "title": "What is digital fiat" } } diff --git a/chapter-206-the-evolution-of-money-iv/206.04-lesson-plastic-credit.json b/chapter-206-the-evolution-of-money-iv/206.04-lesson-plastic-credit.json index 9579a2e..8cf7f7d 100644 --- a/chapter-206-the-evolution-of-money-iv/206.04-lesson-plastic-credit.json +++ b/chapter-206-the-evolution-of-money-iv/206.04-lesson-plastic-credit.json @@ -1,22 +1,18 @@ { "plasticCredit": { - "title": "Plastic Credit", - "questions": { - "plasticCredit": { - "answers": [ - "A type of payment card that allows people to borrow money to pay for things", - "A card that grants the holder special powers, like the ability to fly", - "A card that allows people to pay for things by waving their hand over a sensor" - ], - "feedback": [ - "Correct. A credit card is a type of payment card that allows people to borrow money from the credit card company to pay for things now, rather than saving up money to pay for things later. There are about three billion credit cards in use around the world today", - "Not quite, but a credit card that grants special powers like the ability to fly sounds like it could be a lot of fun", - "Nope, but a credit card that allows people to pay for things by waving their hand over a sensor sounds like something out of a science fiction movie, not real life." - ], - "question": "What is a credit card", - "text": "The credit card is a type of payment card that allows people to borrow money to pay for things. When people use credit cards, they are borrowing money from the credit card company to pay for things now, rather than saving up money to pay for things later.\n\nThis has gradually normalized the act of borrowing for consumption, something that impacts the time preference of users. Instead of waiting to save up the money, the invention of credit cards has made it more common for people to borrow money to buy things they want right away\n\nToday, there are about three billion credit cards in use around the world.\n", - "title": "What is a credit card" - } - } + "screen": "plasticCredit", + "answers": [ + "A type of payment card that allows people to borrow money to pay for things", + "A card that grants the holder special powers, like the ability to fly", + "A card that allows people to pay for things by waving their hand over a sensor" + ], + "feedback": [ + "Correct. A credit card is a type of payment card that allows people to borrow money from the credit card company to pay for things now, rather than saving up money to pay for things later. There are about three billion credit cards in use around the world today", + "Not quite, but a credit card that grants special powers like the ability to fly sounds like it could be a lot of fun", + "Nope, but a credit card that allows people to pay for things by waving their hand over a sensor sounds like something out of a science fiction movie, not real life." + ], + "question": "What is a credit card", + "text": "The credit card is a type of payment card that allows people to borrow money to pay for things. When people use credit cards, they are borrowing money from the credit card company to pay for things now, rather than saving up money to pay for things later.\n\nThis has gradually normalized the act of borrowing for consumption, something that impacts the time preference of users. Instead of waiting to save up the money, the invention of credit cards has made it more common for people to borrow money to buy things they want right away\n\nToday, there are about three billion credit cards in use around the world.\n", + "title": "What is a credit card" } } diff --git a/chapter-206-the-evolution-of-money-iv/206.05-lesson-double-spend-problem.json b/chapter-206-the-evolution-of-money-iv/206.05-lesson-double-spend-problem.json index 1800e4a..2467188 100644 --- a/chapter-206-the-evolution-of-money-iv/206.05-lesson-double-spend-problem.json +++ b/chapter-206-the-evolution-of-money-iv/206.05-lesson-double-spend-problem.json @@ -1,22 +1,18 @@ { "doubleSpendProblem": { - "title": "The Double Spending Problem", - "questions": { - "doubleSpendProblem": { - "answers": [ - "The ability to ensure that the same digital unit of money cannot be spent more than once by its owner", - "The desire to create a digital currency that could only be spent on Mars", - "The idea of rewarding honesty and making dishonesty very costly" - ], - "feedback": [ - "Good job. In the digital world, where it is easy to copy things, it is important to make sure that the same digital unit of money (like a digital coin) cannot be spent more than once by its owner. This was a key factor in the creation of Bitcoin, as it is important for a monetary system that works without a central authority (like a government)", - "Not quite, but a digital currency that could only be spent on Mars sounds like it could be a fun way to support the colonization of the red planet", - "Nope, but the idea of rewarding honesty and making dishonesty very costly is a key factor in the creation of any monetary system, as it helps to ensure trust and cooperation among participants." - ], - "question": "What was a key factor in the creation of Bitcoin", - "text": "In the digital world, it is easy to copy things, so it is important to make sure that the same digital unit of money cannot be spent more than once by its owner.\n\nIn a monetary system with a central authority (like a government), this problem is trivially solved by keeping a ledger of transactions managed by the central authority. However, this normally represents a single point of failure from both availability and trust viewpoints.\n\nIn a decentralized system, the double-spending problem is significantly harder to solve. Many people have tried to create digital money that is not controlled by a government, but they have all had their own unique challenges.\n\nSatoshi Nakamoto took all of these lessons into account and was the first to solve the double spending problem with the implementation of Bitcoin by creating a decentralized system that rewards honesty and makes it very costly to be dishonest.\n", - "title": "What was a key factor in the creation of Bitcoin" - } - } + "screen": "doubleSpendProblem", + "answers": [ + "The ability to ensure that the same digital unit of money cannot be spent more than once by its owner", + "The desire to create a digital currency that could only be spent on Mars", + "The idea of rewarding honesty and making dishonesty very costly" + ], + "feedback": [ + "Good job. In the digital world, where it is easy to copy things, it is important to make sure that the same digital unit of money (like a digital coin) cannot be spent more than once by its owner. This was a key factor in the creation of Bitcoin, as it is important for a monetary system that works without a central authority (like a government)", + "Not quite, but a digital currency that could only be spent on Mars sounds like it could be a fun way to support the colonization of the red planet", + "Nope, but the idea of rewarding honesty and making dishonesty very costly is a key factor in the creation of any monetary system, as it helps to ensure trust and cooperation among participants." + ], + "question": "What was a key factor in the creation of Bitcoin", + "text": "In the digital world, it is easy to copy things, so it is important to make sure that the same digital unit of money cannot be spent more than once by its owner.\n\nIn a monetary system with a central authority (like a government), this problem is trivially solved by keeping a ledger of transactions managed by the central authority. However, this normally represents a single point of failure from both availability and trust viewpoints.\n\nIn a decentralized system, the double-spending problem is significantly harder to solve. Many people have tried to create digital money that is not controlled by a government, but they have all had their own unique challenges.\n\nSatoshi Nakamoto took all of these lessons into account and was the first to solve the double spending problem with the implementation of Bitcoin by creating a decentralized system that rewards honesty and makes it very costly to be dishonest.\n", + "title": "What was a key factor in the creation of Bitcoin" } } diff --git a/chapter-206-the-evolution-of-money-iv/206.06-lesson-innovative-solution.json b/chapter-206-the-evolution-of-money-iv/206.06-lesson-innovative-solution.json index df35d61..70d547e 100644 --- a/chapter-206-the-evolution-of-money-iv/206.06-lesson-innovative-solution.json +++ b/chapter-206-the-evolution-of-money-iv/206.06-lesson-innovative-solution.json @@ -1,22 +1,18 @@ { "satoshisBreakthrough": { - "title": "Satoshi's Breakthrough", - "questions": { - "satoshisBreakthrough": { - "answers": [ - "The double spending problem", - "The problem of double coincidence of wants", - "The halving problem" - ], - "feedback": [ - "Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once", - "Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again", - "Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!" - ], - "question": "Which problem did Satoshi have to solve to create Bitcoin", - "text": "Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.\n\nHis solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.\n", - "title": "Which problem did Satoshi have to solve to create Bitcoin" - } - } + "screen": "satoshisBreakthrough", + "answers": [ + "The double spending problem", + "The problem of double coincidence of wants", + "The halving problem" + ], + "feedback": [ + "Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once", + "Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again", + "Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!" + ], + "question": "Which problem did Satoshi have to solve to create Bitcoin", + "text": "Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.\n\nHis solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.\n", + "title": "Which problem did Satoshi have to solve to create Bitcoin" } } diff --git a/chapter-206-the-evolution-of-money-iv/206.07-lesson-natively-digital.json b/chapter-206-the-evolution-of-money-iv/206.07-lesson-natively-digital.json index 924eb7e..22a95a3 100644 --- a/chapter-206-the-evolution-of-money-iv/206.07-lesson-natively-digital.json +++ b/chapter-206-the-evolution-of-money-iv/206.07-lesson-natively-digital.json @@ -1,22 +1,18 @@ { "nativelyDigital": { - "title": "Purpose-built for the Digital Age", - "questions": { - "nativelyDigital": { - "answers": [ - "Digital fiat money is based on a product from the industrial age, while Bitcoin is a purpose-built money for the digital age", - "Digital fiat money is open-source, while Bitcoin is a closed system", - "Digital fiat money is designed to increase in value over time, while Bitcoin is designed to lose value" - ], - "feedback": [ - "for the digital age", - "It seems you got things mixed up. It's actually the other way around. Try again", - "Sorry, that's not quite right. Bitcoin is likely to increase in value over time due to its strictly fixed supply and growing deman, while inflation decreases the value of fiat currencies quite reliably." - ], - "question": "What is the main difference between digital fiat money and Bitcoin", - "text": "Digital fiat money is a digital version of a product that was designed for the industrial age. It has all of the same problems and limitations as the original product. It is a closed system that is heavily controlled and designed to lose value over time.\n\nBitcoin is a type of digital money that was specifically designed for the digital age. It can be improved and updated, and anyone can see and change the code that it is based on. It benefits from the ideas and creativity of anyone who works on it.\n", - "title": "What is the main difference between digital fiat money and Bitcoin" - } - } + "screen": "nativelyDigital", + "answers": [ + "Digital fiat money is based on a product from the industrial age, while Bitcoin is a purpose-built money for the digital age", + "Digital fiat money is open-source, while Bitcoin is a closed system", + "Digital fiat money is designed to increase in value over time, while Bitcoin is designed to lose value" + ], + "feedback": [ + "for the digital age", + "It seems you got things mixed up. It's actually the other way around. Try again", + "Sorry, that's not quite right. Bitcoin is likely to increase in value over time due to its strictly fixed supply and growing deman, while inflation decreases the value of fiat currencies quite reliably." + ], + "question": "What is the main difference between digital fiat money and Bitcoin", + "text": "Digital fiat money is a digital version of a product that was designed for the industrial age. It has all of the same problems and limitations as the original product. It is a closed system that is heavily controlled and designed to lose value over time.\n\nBitcoin is a type of digital money that was specifically designed for the digital age. It can be improved and updated, and anyone can see and change the code that it is based on. It benefits from the ideas and creativity of anyone who works on it.\n", + "title": "What is the main difference between digital fiat money and Bitcoin" } } diff --git a/chapter-206-the-evolution-of-money-iv/206.08-lesson-cdbcs.json b/chapter-206-the-evolution-of-money-iv/206.08-lesson-cdbcs.json index 2a9fe26..b290ba5 100644 --- a/chapter-206-the-evolution-of-money-iv/206.08-lesson-cdbcs.json +++ b/chapter-206-the-evolution-of-money-iv/206.08-lesson-cdbcs.json @@ -1,22 +1,18 @@ { "CBDCs": { - "title": "Central Bank Digital Currencies", - "questions": { - "CBDCs": { - "answers": [ - "To provide surveillance and censorship capabilities to the issuer", - "To compete with Bitcoin as a store of value", - "To create a decentralized and permissionless digital currency" - ], - "feedback": [ - "That's correct! CBDCs are like the Big Brother of digital currencies, designed to provide surveillance and censorship capabilities to the issuer. Creepy, but correct", - "Haha, sorry but no. While Bitcoin and CBDCs are both digital currencies, they have very different purposes and characteristics. CBDCs are issued and backed by central banks, while Bitcoin is decentralized and not controlled by any government or financial institution", - "Oh boy, that's a creative answer but unfortunately not quite right. CBDCs are not designed to be decentralized or permissionless like Bitcoin. In fact, they are issued and backed by central banks, and their main purpose is to be the ultimate tool for control in the digital age. Better luck next time!" - ], - "question": "What is the main purpose of central bank digital currencies (CBDCs)", - "text": "Central bank digital currencies (CBDCs) are digital versions of traditional currency that are issued and backed by a central bank.\n\nCBDCs are not decentralized or permissionless like Bitcoin, and are instead intended to compete with other forms of digital payment methods for market dominance.\n\nOne of the main reasons for the development of CBDCs is the surveillance and censorship capabilities they provide the issuer.\n\nAdditionally, in an age of negative real interest rates (when the inflation rate is higher than the interest rate), the widespread adoption of CBDCs often goes hand in hand with the phasing out of physical cash, which can lead to the devaluation of the currency in real terms.\n", - "title": "What is the main purpose of central bank digital currencies (CBDCs)" - } - } + "screen": "CBDCs", + "answers": [ + "To provide surveillance and censorship capabilities to the issuer", + "To compete with Bitcoin as a store of value", + "To create a decentralized and permissionless digital currency" + ], + "feedback": [ + "That's correct! CBDCs are like the Big Brother of digital currencies, designed to provide surveillance and censorship capabilities to the issuer. Creepy, but correct", + "Haha, sorry but no. While Bitcoin and CBDCs are both digital currencies, they have very different purposes and characteristics. CBDCs are issued and backed by central banks, while Bitcoin is decentralized and not controlled by any government or financial institution", + "Oh boy, that's a creative answer but unfortunately not quite right. CBDCs are not designed to be decentralized or permissionless like Bitcoin. In fact, they are issued and backed by central banks, and their main purpose is to be the ultimate tool for control in the digital age. Better luck next time!" + ], + "question": "What is the main purpose of central bank digital currencies (CBDCs)", + "text": "Central bank digital currencies (CBDCs) are digital versions of traditional currency that are issued and backed by a central bank.\n\nCBDCs are not decentralized or permissionless like Bitcoin, and are instead intended to compete with other forms of digital payment methods for market dominance.\n\nOne of the main reasons for the development of CBDCs is the surveillance and censorship capabilities they provide the issuer.\n\nAdditionally, in an age of negative real interest rates (when the inflation rate is higher than the interest rate), the widespread adoption of CBDCs often goes hand in hand with the phasing out of physical cash, which can lead to the devaluation of the currency in real terms.\n", + "title": "What is the main purpose of central bank digital currencies (CBDCs)" } } diff --git a/chapter-301-bitcoin-why-was-it-created/301-combined.json b/chapter-301-bitcoin-why-was-it-created/301-combined.json index d114bb1..607c7f5 100644 --- a/chapter-301-bitcoin-why-was-it-created/301-combined.json +++ b/chapter-301-bitcoin-why-was-it-created/301-combined.json @@ -1,134 +1,97 @@ -[ - { - "rootProblem": { - "title": "The Root Problem", - "questions": { - "rootProblem": { - "answers": [ - "The trust that is required to make it work", - "The color of the physical bills", - "The fact that it requires physical storage" - ], - "feedback": [ - "You got it right! The root problem with conventional currency is the trust that is required to make it work. It's an interesting point, as trust is a fundamental aspect of any currency system", - "Interesting take, but unfortunately not the correct answer. Conventional currency isn't just about the aesthetics of its physical form, although I'm sure some people might argue otherwise", - "Haha, while it might be inconvenient to lug around a wallet full of cash, that's not the root problem with conventional currency. But don't worry, you can try again!" - ], - "question": "What is the root problem with conventional currency according to Satoshi Nakamoto", - "text": "So what was the motivation to create Bitcoin? In his announcement of the project, Satoshi Nakamoto gave the following explanation:\n\n\"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.\"\n", - "title": "What is the root problem with conventional currency according to Satoshi Nakamoto" - } - } - } - }, - { - "bitcoinCreator": { - "title": "Bitcoin's Creator Satoshi Nakamoto", - "questions": { - "bitcoinCreator": { - "answers": [ - "An unknown programmer who used the pseudonym \"Satoshi Nakamoto\"", - "Craig Wright", - "Elon Musk" - ], - "feedback": [ - "Correct! It's an interesting mystery, but it's worth noting that the bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone", - "I'm sorry, but it looks like Craig Wright's claim to being the creator of bitcoin has been thoroughly debunked. Better luck with the next answer", - "Nope! Elon Musk's talents might be better suited to launching rockets and building electric cars rather than creating revolutionary digital currencies. Try again!" - ], - "question": "Who is the creator of bitcoin", - "text": "The creator of bitcoin, who used the pseudonym \"Satoshi Nakamoto,\" is unknown and no claims of being the creator have been verified. Satoshi was only involved in the project for a short time before disappearing.\n\nThe bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone.\n", - "title": "Who is the creator of bitcoin" - } - } - } - }, - { - "fiatRequiresTrust": { - "title": "Fiat Currencies Require Trust", - "questions": { - "fiatRequiresTrust": { - "answers": [ - "The need for trusted third parties to make a currency work", - "Lack of a physical form for currency", - "Inflation caused by central authorities issuing more units" - ], - "feedback": [ - "Exactly. Bitcoin requires no trusted third party and allows for transactions to be made directly between individuals, called peer-to-peer, rather than through a central authority or intermediaries", - "Nope. That's not it. Try again", - "Arbitrary inflation of the money supply by centralized issuers is indeed a problem that bitcoin solves elegantly, but there's a more foundational problem that Satoshi addressed. Try again!" - ], - "question": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin", - "text": "The post-1971 fiat currency system requires trust at all levels because it is debt-based and lacks a scarce anchor. This includes trust in the ability to pay off debts in the future, trust in commercial and central banks not to debase the currency, and trust in their ability to allow access to and freedom to use funds for transactions.\n\nThis trust has been violated numerous times, including during the 2008/09 Global Financial Crisis. In order to address this issue, Satoshi Nakamoto aimed to create a digital form of money that did not require trusting third parties for transactions and could not be debased by a central authority issuing more units.\n", - "title": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin" - } - } - } - }, - { - "moneyPrinting": { - "title": "Money Printing and Credit Expansion", - "questions": { - "moneyPrinting": { - "answers": [ - "Asset bubbles in stock and real estate markets that experience corrections roughly every decade", - "A sudden increase in the popularity of polka music", - "A decrease in the number of people who believe in extraterrestrial life forms" - ], - "feedback": [ - "Bullseye! Asset bubbles in stock and real estate markets are indeed one of the main consequences of excessive money printing and credit expansion. It's worth noting that these bubbles often disproportionately benefit those closest to the source of new money, while lower income individuals are often the most affected by the inflation and economic booms and busts that result", - "That's not the right wavelength here! While some believe easy money has a negative impact on music, this is not the right answer", - "Your guess is out of this world. While it's certainly interesting to speculate about the existence of aliens, it has nothing to do with the consequences of excessive money printing and credit expansion." - ], - "question": "What is one of the main consequences of excessive money printing and credit expansion", - "text": "Excessive money printing and credit expansion can cause numerous social and economic issues, including asset bubbles in stocks and real estate markets which tend to experience corrections roughly every decade.\n\nWhile those closest to the source of new money often benefit greatly from these cycles, lower income individuals who don't own valuable assets and rely on regular paychecks are often the most affected by inflation and economic booms and busts created by the fiat currency system.\n\nA well-known example of this is the Global Financial Crisis that began in 2008, which was preceded by a significant accumulation of debt and risk in the commercial banking sector.\n", - "title": "What is one of the main consequences of excessive money printing and credit expansion" - } - } - } - }, - { - "genesisBlock": { - "title": "The Genesis Block", - "questions": { - "genesisBlock": { - "answers": [ - "To take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system", - "To create a digital form of money that could be easily debased by a central authority", - "To make it easier for third parties to facilitate transactions" - ], - "feedback": [ - "That's exactly right. Take a wild guess what those financial elites think about bitcoin", - "No, silly. We already have that with fiat. Try again and think about Satoshi's message in the Genesis Block before you answer", - "Sorry, that's not quite right. While third parties can be useful for facilitating transactions, trust in these intermediaries was one of the issues that Satoshi Nakamoto aimed to address with the creation of Bitcoin. Maybe try again with a different answer." - ], - "question": "Why did Satoshi Nakamoto create Bitcoin", - "text": "It is clear why Satoshi Nakamoto created Bitcoin when we examine the first block of the Bitcoin blockchain, called the Genesis block.\n\nThis block was created by Satoshi when he launched Bitcoin in 2009 and includes a reference to banks receiving bailouts following the 2008/09 Global Financial Crisis.\n\n\"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks\"\n\nThis crisis, in which trust in traditional financial systems was severely damaged, inspired Satoshi to create a digital form of money that does not require trusting third parties for transactions and cannot be debased by a central authority issuing more units.\n", - "title": "Why did Satoshi Nakamoto create Bitcoin" - } - } - } - }, - { - "cypherpunks": { - "title": "Bitcoin is the Result of Decades of Research", - "questions": { - "cypherpunks": { - "answers": [ - "The Cypherpunks are a group of individuals who seek to use cryptography to promote privacy and security in the digital age", - "The Cypherpunks are a group of hackers who aim to steal personal data and sensitive information through the use of cryptography", - "The Cypherpunks are a group of cryptographers who seek to create complex mathematical equations that are difficult to solve" - ], - "feedback": [ - "Well done! It's interesting to note that the Cypherpunks' goal of using cryptography to promote privacy and security is particularly relevant in today's digital age, where increasing surveillance can lead to the erosion of freedoms", - "Sorry, that's not quite right. While the use of cryptography can certainly be beneficial for hackers, the Cypherpunks seek to use cryptography for the opposite purpose. Maybe try again with a different answer", - "Nope. While cryptography does involve the use of complex mathematical equations, the Cypherpunks are not primarily interested in creating these equations for their own sake. Try again!" - ], - "question": "Who are the Cypherpunks and what is their goal", - "text": "Bitcoin is the result of decades of research work by a group of individuals who call themselves Cypherpunks. They are interested in using cryptography to promote privacy and security in a world where increasing surveillance in the digital age can lead to erosion of freedoms.\n\nEarlier digital cash systems that relied on peer-to-peer (P2P) networks had one or both of the following problems:\n\n * They required a central authority to manage the ledger of ownership.\n * The currency units could be copied, resulting in the \"double-spending problem\" where a single unit could be spent multiple times.\n\n Satoshi addressed both of these issues by combining existing technologies in the creation of Bitcoin. The first issue is resolved because the decentralized nature of the Bitcoin network means that there is no central authority that users need to trust. The second issue is addressed because the unique cryptographic techniques used in Bitcoin make it impossible to copy the currency units.\n", - "title": "Who are the Cypherpunks and what is their goal" - } +{ + "BitcoinWhywasitcreated": { + "title": "Bitcoin: Why was it created?", + "questions": { + "rootProblem": { + "answers": [ + "The trust that is required to make it work", + "The color of the physical bills", + "The fact that it requires physical storage" + ], + "feedback": [ + "You got it right! The root problem with conventional currency is the trust that is required to make it work. It's an interesting point, as trust is a fundamental aspect of any currency system", + "Interesting take, but unfortunately not the correct answer. Conventional currency isn't just about the aesthetics of its physical form, although I'm sure some people might argue otherwise", + "Haha, while it might be inconvenient to lug around a wallet full of cash, that's not the root problem with conventional currency. But don't worry, you can try again!" + ], + "question": "What is the root problem with conventional currency according to Satoshi Nakamoto", + "text": "So what was the motivation to create Bitcoin? In his announcement of the project, Satoshi Nakamoto gave the following explanation:\n\n\"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.\"\n", + "title": "What is the root problem with conventional currency according to Satoshi Nakamoto" + }, + "bitcoinCreator": { + "answers": [ + "An unknown programmer who used the pseudonym \"Satoshi Nakamoto\"", + "Craig Wright", + "Elon Musk" + ], + "feedback": [ + "Correct! It's an interesting mystery, but it's worth noting that the bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone", + "I'm sorry, but it looks like Craig Wright's claim to being the creator of bitcoin has been thoroughly debunked. Better luck with the next answer", + "Nope! Elon Musk's talents might be better suited to launching rockets and building electric cars rather than creating revolutionary digital currencies. Try again!" + ], + "question": "Who is the creator of bitcoin", + "text": "The creator of bitcoin, who used the pseudonym \"Satoshi Nakamoto,\" is unknown and no claims of being the creator have been verified. Satoshi was only involved in the project for a short time before disappearing.\n\nThe bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone.\n", + "title": "Who is the creator of bitcoin" + }, + "fiatRequiresTrust": { + "answers": [ + "The need for trusted third parties to make a currency work", + "Lack of a physical form for currency", + "Inflation caused by central authorities issuing more units" + ], + "feedback": [ + "Exactly. Bitcoin requires no trusted third party and allows for transactions to be made directly between individuals, called peer-to-peer, rather than through a central authority or intermediaries", + "Nope. That's not it. Try again", + "Arbitrary inflation of the money supply by centralized issuers is indeed a problem that bitcoin solves elegantly, but there's a more foundational problem that Satoshi addressed. Try again!" + ], + "question": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin", + "text": "The post-1971 fiat currency system requires trust at all levels because it is debt-based and lacks a scarce anchor. This includes trust in the ability to pay off debts in the future, trust in commercial and central banks not to debase the currency, and trust in their ability to allow access to and freedom to use funds for transactions.\n\nThis trust has been violated numerous times, including during the 2008/09 Global Financial Crisis. In order to address this issue, Satoshi Nakamoto aimed to create a digital form of money that did not require trusting third parties for transactions and could not be debased by a central authority issuing more units.\n", + "title": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin" + }, + "moneyPrinting": { + "answers": [ + "Asset bubbles in stock and real estate markets that experience corrections roughly every decade", + "A sudden increase in the popularity of polka music", + "A decrease in the number of people who believe in extraterrestrial life forms" + ], + "feedback": [ + "Bullseye! Asset bubbles in stock and real estate markets are indeed one of the main consequences of excessive money printing and credit expansion. It's worth noting that these bubbles often disproportionately benefit those closest to the source of new money, while lower income individuals are often the most affected by the inflation and economic booms and busts that result", + "That's not the right wavelength here! While some believe easy money has a negative impact on music, this is not the right answer", + "Your guess is out of this world. While it's certainly interesting to speculate about the existence of aliens, it has nothing to do with the consequences of excessive money printing and credit expansion." + ], + "question": "What is one of the main consequences of excessive money printing and credit expansion", + "text": "Excessive money printing and credit expansion can cause numerous social and economic issues, including asset bubbles in stocks and real estate markets which tend to experience corrections roughly every decade.\n\nWhile those closest to the source of new money often benefit greatly from these cycles, lower income individuals who don't own valuable assets and rely on regular paychecks are often the most affected by inflation and economic booms and busts created by the fiat currency system.\n\nA well-known example of this is the Global Financial Crisis that began in 2008, which was preceded by a significant accumulation of debt and risk in the commercial banking sector.\n", + "title": "What is one of the main consequences of excessive money printing and credit expansion" + }, + "genesisBlock": { + "answers": [ + "To take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system", + "To create a digital form of money that could be easily debased by a central authority", + "To make it easier for third parties to facilitate transactions" + ], + "feedback": [ + "That's exactly right. Take a wild guess what those financial elites think about bitcoin", + "No, silly. We already have that with fiat. Try again and think about Satoshi's message in the Genesis Block before you answer", + "Sorry, that's not quite right. While third parties can be useful for facilitating transactions, trust in these intermediaries was one of the issues that Satoshi Nakamoto aimed to address with the creation of Bitcoin. Maybe try again with a different answer." + ], + "question": "Why did Satoshi Nakamoto create Bitcoin", + "text": "It is clear why Satoshi Nakamoto created Bitcoin when we examine the first block of the Bitcoin blockchain, called the Genesis block.\n\nThis block was created by Satoshi when he launched Bitcoin in 2009 and includes a reference to banks receiving bailouts following the 2008/09 Global Financial Crisis.\n\n\"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks\"\n\nThis crisis, in which trust in traditional financial systems was severely damaged, inspired Satoshi to create a digital form of money that does not require trusting third parties for transactions and cannot be debased by a central authority issuing more units.\n", + "title": "Why did Satoshi Nakamoto create Bitcoin" + }, + "cypherpunks": { + "answers": [ + "The Cypherpunks are a group of individuals who seek to use cryptography to promote privacy and security in the digital age", + "The Cypherpunks are a group of hackers who aim to steal personal data and sensitive information through the use of cryptography", + "The Cypherpunks are a group of cryptographers who seek to create complex mathematical equations that are difficult to solve" + ], + "feedback": [ + "Well done! It's interesting to note that the Cypherpunks' goal of using cryptography to promote privacy and security is particularly relevant in today's digital age, where increasing surveillance can lead to the erosion of freedoms", + "Sorry, that's not quite right. While the use of cryptography can certainly be beneficial for hackers, the Cypherpunks seek to use cryptography for the opposite purpose. Maybe try again with a different answer", + "Nope. While cryptography does involve the use of complex mathematical equations, the Cypherpunks are not primarily interested in creating these equations for their own sake. Try again!" + ], + "question": "Who are the Cypherpunks and what is their goal", + "text": "Bitcoin is the result of decades of research work by a group of individuals who call themselves Cypherpunks. They are interested in using cryptography to promote privacy and security in a world where increasing surveillance in the digital age can lead to erosion of freedoms.\n\nEarlier digital cash systems that relied on peer-to-peer (P2P) networks had one or both of the following problems:\n\n * They required a central authority to manage the ledger of ownership.\n * The currency units could be copied, resulting in the \"double-spending problem\" where a single unit could be spent multiple times.\n\n Satoshi addressed both of these issues by combining existing technologies in the creation of Bitcoin. The first issue is resolved because the decentralized nature of the Bitcoin network means that there is no central authority that users need to trust. The second issue is addressed because the unique cryptographic techniques used in Bitcoin make it impossible to copy the currency units.\n", + "title": "Who are the Cypherpunks and what is their goal" } } } -] +} diff --git a/chapter-301-bitcoin-why-was-it-created/301.01-lesson-root-problem.json b/chapter-301-bitcoin-why-was-it-created/301.01-lesson-root-problem.json index fabbb71..8bc41c2 100644 --- a/chapter-301-bitcoin-why-was-it-created/301.01-lesson-root-problem.json +++ b/chapter-301-bitcoin-why-was-it-created/301.01-lesson-root-problem.json @@ -1,22 +1,18 @@ { "rootProblem": { - "title": "The Root Problem", - "questions": { - "rootProblem": { - "answers": [ - "The trust that is required to make it work", - "The color of the physical bills", - "The fact that it requires physical storage" - ], - "feedback": [ - "You got it right! The root problem with conventional currency is the trust that is required to make it work. It's an interesting point, as trust is a fundamental aspect of any currency system", - "Interesting take, but unfortunately not the correct answer. Conventional currency isn't just about the aesthetics of its physical form, although I'm sure some people might argue otherwise", - "Haha, while it might be inconvenient to lug around a wallet full of cash, that's not the root problem with conventional currency. But don't worry, you can try again!" - ], - "question": "What is the root problem with conventional currency according to Satoshi Nakamoto", - "text": "So what was the motivation to create Bitcoin? In his announcement of the project, Satoshi Nakamoto gave the following explanation:\n\n\"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.\"\n", - "title": "What is the root problem with conventional currency according to Satoshi Nakamoto" - } - } + "screen": "rootProblem", + "answers": [ + "The trust that is required to make it work", + "The color of the physical bills", + "The fact that it requires physical storage" + ], + "feedback": [ + "You got it right! The root problem with conventional currency is the trust that is required to make it work. It's an interesting point, as trust is a fundamental aspect of any currency system", + "Interesting take, but unfortunately not the correct answer. Conventional currency isn't just about the aesthetics of its physical form, although I'm sure some people might argue otherwise", + "Haha, while it might be inconvenient to lug around a wallet full of cash, that's not the root problem with conventional currency. But don't worry, you can try again!" + ], + "question": "What is the root problem with conventional currency according to Satoshi Nakamoto", + "text": "So what was the motivation to create Bitcoin? In his announcement of the project, Satoshi Nakamoto gave the following explanation:\n\n\"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.\"\n", + "title": "What is the root problem with conventional currency according to Satoshi Nakamoto" } } diff --git a/chapter-301-bitcoin-why-was-it-created/301.02-lesson-bitcoin-creator.json b/chapter-301-bitcoin-why-was-it-created/301.02-lesson-bitcoin-creator.json index ae59675..3bd6c89 100644 --- a/chapter-301-bitcoin-why-was-it-created/301.02-lesson-bitcoin-creator.json +++ b/chapter-301-bitcoin-why-was-it-created/301.02-lesson-bitcoin-creator.json @@ -1,22 +1,18 @@ { "bitcoinCreator": { - "title": "Bitcoin's Creator Satoshi Nakamoto", - "questions": { - "bitcoinCreator": { - "answers": [ - "An unknown programmer who used the pseudonym \"Satoshi Nakamoto\"", - "Craig Wright", - "Elon Musk" - ], - "feedback": [ - "Correct! It's an interesting mystery, but it's worth noting that the bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone", - "I'm sorry, but it looks like Craig Wright's claim to being the creator of bitcoin has been thoroughly debunked. Better luck with the next answer", - "Nope! Elon Musk's talents might be better suited to launching rockets and building electric cars rather than creating revolutionary digital currencies. Try again!" - ], - "question": "Who is the creator of bitcoin", - "text": "The creator of bitcoin, who used the pseudonym \"Satoshi Nakamoto,\" is unknown and no claims of being the creator have been verified. Satoshi was only involved in the project for a short time before disappearing.\n\nThe bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone.\n", - "title": "Who is the creator of bitcoin" - } - } + "screen": "bitcoinCreator", + "answers": [ + "An unknown programmer who used the pseudonym \"Satoshi Nakamoto\"", + "Craig Wright", + "Elon Musk" + ], + "feedback": [ + "Correct! It's an interesting mystery, but it's worth noting that the bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone", + "I'm sorry, but it looks like Craig Wright's claim to being the creator of bitcoin has been thoroughly debunked. Better luck with the next answer", + "Nope! Elon Musk's talents might be better suited to launching rockets and building electric cars rather than creating revolutionary digital currencies. Try again!" + ], + "question": "Who is the creator of bitcoin", + "text": "The creator of bitcoin, who used the pseudonym \"Satoshi Nakamoto,\" is unknown and no claims of being the creator have been verified. Satoshi was only involved in the project for a short time before disappearing.\n\nThe bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone.\n", + "title": "Who is the creator of bitcoin" } } diff --git a/chapter-301-bitcoin-why-was-it-created/301.03-lesson-fiat-requires-trust.json b/chapter-301-bitcoin-why-was-it-created/301.03-lesson-fiat-requires-trust.json index 50e77e6..048b9e3 100644 --- a/chapter-301-bitcoin-why-was-it-created/301.03-lesson-fiat-requires-trust.json +++ b/chapter-301-bitcoin-why-was-it-created/301.03-lesson-fiat-requires-trust.json @@ -1,22 +1,18 @@ { "fiatRequiresTrust": { - "title": "Fiat Currencies Require Trust", - "questions": { - "fiatRequiresTrust": { - "answers": [ - "The need for trusted third parties to make a currency work", - "Lack of a physical form for currency", - "Inflation caused by central authorities issuing more units" - ], - "feedback": [ - "Exactly. Bitcoin requires no trusted third party and allows for transactions to be made directly between individuals, called peer-to-peer, rather than through a central authority or intermediaries", - "Nope. That's not it. Try again", - "Arbitrary inflation of the money supply by centralized issuers is indeed a problem that bitcoin solves elegantly, but there's a more foundational problem that Satoshi addressed. Try again!" - ], - "question": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin", - "text": "The post-1971 fiat currency system requires trust at all levels because it is debt-based and lacks a scarce anchor. This includes trust in the ability to pay off debts in the future, trust in commercial and central banks not to debase the currency, and trust in their ability to allow access to and freedom to use funds for transactions.\n\nThis trust has been violated numerous times, including during the 2008/09 Global Financial Crisis. In order to address this issue, Satoshi Nakamoto aimed to create a digital form of money that did not require trusting third parties for transactions and could not be debased by a central authority issuing more units.\n", - "title": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin" - } - } + "screen": "fiatRequiresTrust", + "answers": [ + "The need for trusted third parties to make a currency work", + "Lack of a physical form for currency", + "Inflation caused by central authorities issuing more units" + ], + "feedback": [ + "Exactly. Bitcoin requires no trusted third party and allows for transactions to be made directly between individuals, called peer-to-peer, rather than through a central authority or intermediaries", + "Nope. That's not it. Try again", + "Arbitrary inflation of the money supply by centralized issuers is indeed a problem that bitcoin solves elegantly, but there's a more foundational problem that Satoshi addressed. Try again!" + ], + "question": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin", + "text": "The post-1971 fiat currency system requires trust at all levels because it is debt-based and lacks a scarce anchor. This includes trust in the ability to pay off debts in the future, trust in commercial and central banks not to debase the currency, and trust in their ability to allow access to and freedom to use funds for transactions.\n\nThis trust has been violated numerous times, including during the 2008/09 Global Financial Crisis. In order to address this issue, Satoshi Nakamoto aimed to create a digital form of money that did not require trusting third parties for transactions and could not be debased by a central authority issuing more units.\n", + "title": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin" } } diff --git a/chapter-301-bitcoin-why-was-it-created/301.04-lesson-money-printing.json b/chapter-301-bitcoin-why-was-it-created/301.04-lesson-money-printing.json index 0532fe3..fbf81a2 100644 --- a/chapter-301-bitcoin-why-was-it-created/301.04-lesson-money-printing.json +++ b/chapter-301-bitcoin-why-was-it-created/301.04-lesson-money-printing.json @@ -1,22 +1,18 @@ { "moneyPrinting": { - "title": "Money Printing and Credit Expansion", - "questions": { - "moneyPrinting": { - "answers": [ - "Asset bubbles in stock and real estate markets that experience corrections roughly every decade", - "A sudden increase in the popularity of polka music", - "A decrease in the number of people who believe in extraterrestrial life forms" - ], - "feedback": [ - "Bullseye! Asset bubbles in stock and real estate markets are indeed one of the main consequences of excessive money printing and credit expansion. It's worth noting that these bubbles often disproportionately benefit those closest to the source of new money, while lower income individuals are often the most affected by the inflation and economic booms and busts that result", - "That's not the right wavelength here! While some believe easy money has a negative impact on music, this is not the right answer", - "Your guess is out of this world. While it's certainly interesting to speculate about the existence of aliens, it has nothing to do with the consequences of excessive money printing and credit expansion." - ], - "question": "What is one of the main consequences of excessive money printing and credit expansion", - "text": "Excessive money printing and credit expansion can cause numerous social and economic issues, including asset bubbles in stocks and real estate markets which tend to experience corrections roughly every decade.\n\nWhile those closest to the source of new money often benefit greatly from these cycles, lower income individuals who don't own valuable assets and rely on regular paychecks are often the most affected by inflation and economic booms and busts created by the fiat currency system.\n\nA well-known example of this is the Global Financial Crisis that began in 2008, which was preceded by a significant accumulation of debt and risk in the commercial banking sector.\n", - "title": "What is one of the main consequences of excessive money printing and credit expansion" - } - } + "screen": "moneyPrinting", + "answers": [ + "Asset bubbles in stock and real estate markets that experience corrections roughly every decade", + "A sudden increase in the popularity of polka music", + "A decrease in the number of people who believe in extraterrestrial life forms" + ], + "feedback": [ + "Bullseye! Asset bubbles in stock and real estate markets are indeed one of the main consequences of excessive money printing and credit expansion. It's worth noting that these bubbles often disproportionately benefit those closest to the source of new money, while lower income individuals are often the most affected by the inflation and economic booms and busts that result", + "That's not the right wavelength here! While some believe easy money has a negative impact on music, this is not the right answer", + "Your guess is out of this world. While it's certainly interesting to speculate about the existence of aliens, it has nothing to do with the consequences of excessive money printing and credit expansion." + ], + "question": "What is one of the main consequences of excessive money printing and credit expansion", + "text": "Excessive money printing and credit expansion can cause numerous social and economic issues, including asset bubbles in stocks and real estate markets which tend to experience corrections roughly every decade.\n\nWhile those closest to the source of new money often benefit greatly from these cycles, lower income individuals who don't own valuable assets and rely on regular paychecks are often the most affected by inflation and economic booms and busts created by the fiat currency system.\n\nA well-known example of this is the Global Financial Crisis that began in 2008, which was preceded by a significant accumulation of debt and risk in the commercial banking sector.\n", + "title": "What is one of the main consequences of excessive money printing and credit expansion" } } diff --git a/chapter-301-bitcoin-why-was-it-created/301.05-lesson-genesis-block.json b/chapter-301-bitcoin-why-was-it-created/301.05-lesson-genesis-block.json index 0bc7a81..2afddfc 100644 --- a/chapter-301-bitcoin-why-was-it-created/301.05-lesson-genesis-block.json +++ b/chapter-301-bitcoin-why-was-it-created/301.05-lesson-genesis-block.json @@ -1,22 +1,18 @@ { "genesisBlock": { - "title": "The Genesis Block", - "questions": { - "genesisBlock": { - "answers": [ - "To take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system", - "To create a digital form of money that could be easily debased by a central authority", - "To make it easier for third parties to facilitate transactions" - ], - "feedback": [ - "That's exactly right. Take a wild guess what those financial elites think about bitcoin", - "No, silly. We already have that with fiat. Try again and think about Satoshi's message in the Genesis Block before you answer", - "Sorry, that's not quite right. While third parties can be useful for facilitating transactions, trust in these intermediaries was one of the issues that Satoshi Nakamoto aimed to address with the creation of Bitcoin. Maybe try again with a different answer." - ], - "question": "Why did Satoshi Nakamoto create Bitcoin", - "text": "It is clear why Satoshi Nakamoto created Bitcoin when we examine the first block of the Bitcoin blockchain, called the Genesis block.\n\nThis block was created by Satoshi when he launched Bitcoin in 2009 and includes a reference to banks receiving bailouts following the 2008/09 Global Financial Crisis.\n\n\"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks\"\n\nThis crisis, in which trust in traditional financial systems was severely damaged, inspired Satoshi to create a digital form of money that does not require trusting third parties for transactions and cannot be debased by a central authority issuing more units.\n", - "title": "Why did Satoshi Nakamoto create Bitcoin" - } - } + "screen": "genesisBlock", + "answers": [ + "To take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system", + "To create a digital form of money that could be easily debased by a central authority", + "To make it easier for third parties to facilitate transactions" + ], + "feedback": [ + "That's exactly right. Take a wild guess what those financial elites think about bitcoin", + "No, silly. We already have that with fiat. Try again and think about Satoshi's message in the Genesis Block before you answer", + "Sorry, that's not quite right. While third parties can be useful for facilitating transactions, trust in these intermediaries was one of the issues that Satoshi Nakamoto aimed to address with the creation of Bitcoin. Maybe try again with a different answer." + ], + "question": "Why did Satoshi Nakamoto create Bitcoin", + "text": "It is clear why Satoshi Nakamoto created Bitcoin when we examine the first block of the Bitcoin blockchain, called the Genesis block.\n\nThis block was created by Satoshi when he launched Bitcoin in 2009 and includes a reference to banks receiving bailouts following the 2008/09 Global Financial Crisis.\n\n\"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks\"\n\nThis crisis, in which trust in traditional financial systems was severely damaged, inspired Satoshi to create a digital form of money that does not require trusting third parties for transactions and cannot be debased by a central authority issuing more units.\n", + "title": "Why did Satoshi Nakamoto create Bitcoin" } } diff --git a/chapter-301-bitcoin-why-was-it-created/301.06-lesson-cypher-punks.json b/chapter-301-bitcoin-why-was-it-created/301.06-lesson-cypher-punks.json index 6b2a685..c47a669 100644 --- a/chapter-301-bitcoin-why-was-it-created/301.06-lesson-cypher-punks.json +++ b/chapter-301-bitcoin-why-was-it-created/301.06-lesson-cypher-punks.json @@ -1,22 +1,18 @@ { "cypherpunks": { - "title": "Bitcoin is the Result of Decades of Research", - "questions": { - "cypherpunks": { - "answers": [ - "The Cypherpunks are a group of individuals who seek to use cryptography to promote privacy and security in the digital age", - "The Cypherpunks are a group of hackers who aim to steal personal data and sensitive information through the use of cryptography", - "The Cypherpunks are a group of cryptographers who seek to create complex mathematical equations that are difficult to solve" - ], - "feedback": [ - "Well done! It's interesting to note that the Cypherpunks' goal of using cryptography to promote privacy and security is particularly relevant in today's digital age, where increasing surveillance can lead to the erosion of freedoms", - "Sorry, that's not quite right. While the use of cryptography can certainly be beneficial for hackers, the Cypherpunks seek to use cryptography for the opposite purpose. Maybe try again with a different answer", - "Nope. While cryptography does involve the use of complex mathematical equations, the Cypherpunks are not primarily interested in creating these equations for their own sake. Try again!" - ], - "question": "Who are the Cypherpunks and what is their goal", - "text": "Bitcoin is the result of decades of research work by a group of individuals who call themselves Cypherpunks. They are interested in using cryptography to promote privacy and security in a world where increasing surveillance in the digital age can lead to erosion of freedoms.\n\nEarlier digital cash systems that relied on peer-to-peer (P2P) networks had one or both of the following problems:\n\n * They required a central authority to manage the ledger of ownership.\n * The currency units could be copied, resulting in the \"double-spending problem\" where a single unit could be spent multiple times.\n\n Satoshi addressed both of these issues by combining existing technologies in the creation of Bitcoin. The first issue is resolved because the decentralized nature of the Bitcoin network means that there is no central authority that users need to trust. The second issue is addressed because the unique cryptographic techniques used in Bitcoin make it impossible to copy the currency units.\n", - "title": "Who are the Cypherpunks and what is their goal" - } - } + "screen": "cypherpunks", + "answers": [ + "The Cypherpunks are a group of individuals who seek to use cryptography to promote privacy and security in the digital age", + "The Cypherpunks are a group of hackers who aim to steal personal data and sensitive information through the use of cryptography", + "The Cypherpunks are a group of cryptographers who seek to create complex mathematical equations that are difficult to solve" + ], + "feedback": [ + "Well done! It's interesting to note that the Cypherpunks' goal of using cryptography to promote privacy and security is particularly relevant in today's digital age, where increasing surveillance can lead to the erosion of freedoms", + "Sorry, that's not quite right. While the use of cryptography can certainly be beneficial for hackers, the Cypherpunks seek to use cryptography for the opposite purpose. Maybe try again with a different answer", + "Nope. While cryptography does involve the use of complex mathematical equations, the Cypherpunks are not primarily interested in creating these equations for their own sake. Try again!" + ], + "question": "Who are the Cypherpunks and what is their goal", + "text": "Bitcoin is the result of decades of research work by a group of individuals who call themselves Cypherpunks. They are interested in using cryptography to promote privacy and security in a world where increasing surveillance in the digital age can lead to erosion of freedoms.\n\nEarlier digital cash systems that relied on peer-to-peer (P2P) networks had one or both of the following problems:\n\n * They required a central authority to manage the ledger of ownership.\n * The currency units could be copied, resulting in the \"double-spending problem\" where a single unit could be spent multiple times.\n\n Satoshi addressed both of these issues by combining existing technologies in the creation of Bitcoin. The first issue is resolved because the decentralized nature of the Bitcoin network means that there is no central authority that users need to trust. The second issue is addressed because the unique cryptographic techniques used in Bitcoin make it impossible to copy the currency units.\n", + "title": "Who are the Cypherpunks and what is their goal" } } diff --git a/chapter-302-bitcoin-how-does-it-work/302-combined.json b/chapter-302-bitcoin-how-does-it-work/302-combined.json index 04f7c80..9c72615 100644 --- a/chapter-302-bitcoin-how-does-it-work/302-combined.json +++ b/chapter-302-bitcoin-how-does-it-work/302-combined.json @@ -1,178 +1,127 @@ -[ - { - "peer2Peer": { - "title": "Peer-to-Peer Network", - "questions": { - "peer2Peer": { - "answers": [ - "The blockchain", - "The internet", - "A decentralized network of nodes" - ], - "feedback": [ - "Correct! Satoshi was the first to successfully implement the blockchain - a concept first described in 1991 by Stuart Haber and W. Scott Stornetta. It's a decentralized form of bookkeeping that is resistant to tampering and allows users to make and verify transactions without the need for a central authority", - "No. The internet is a global network of interconnected computers, but it was not invented by Satoshi and does not solve issues of centralization and double spends. Try again", - "A decentralized network of nodes is an important part of Bitcoin, but it does not solve issues of centralization and double spends by itself. Try again!" - ], - "question": "Which technology did Satoshi implement to solve issues of centralization and double spends", - "text": "To solve the earlier mentioned issues of centralization and possible double spends, Satoshi invented a solution based on a decentralized network of nodes.\n\nNodes are computers that are in constant contact with each other. This by itself is nothing new. The internet itself has a similar infrastructure of interconnected nodes.\n\nAll bitcoin nodes, however, store a copy of the ledger of all transactions in the history of the Bitcoin network.\n\nThis new, decentralized form of bookkeeping, called blockchain, was first successfully implemented in Bitcoin and is extremely resistant to tampering.\n", - "title": "Which technology did Satoshi implement to solve issues of centralization and double spends" - } - } - } - }, - { - "blockchain": { - "title": "What is a blockchain exactly?", - "questions": { - "blockchain": { - "answers": [ - "To create a tamper-evident record of all transactions on the blockchain", - "To ensure that blocks can be altered or replaced easily", - "To make sure that the Artificial Intelligence that created Bitcoin has enough computation power to take over the world" - ], - "feedback": [ - "Correct! The cryptographic hash function helps to create a tamper-evident record of all transactions on the blockchain, which can be used to verify the integrity of the data stored on the chain. Did you know that the cryptographic hash function is also an essential part of the proof-of-work mechanism that helps to secure the Bitcoin network", - "That's a hilarious idea, but no, the cryptographic hash function actually ensures the opposite. Try again", - "Ha! I'm not sure who told you that the Bitcoin blockchain was created by AI, but I think they might have been pulling your leg. Try again!" - ], - "question": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain", - "text": "The Bitcoin blockchain is a distributed database that maintains a continuously growing list of Bitcoin transactions called blocks.\n\nBlocks are anchored to each other through the use of cryptographic hashes. Each block contains a cryptographic hash of the previous block, as well as a timestamp and transaction data. This creates a chain of blocks that are all linked together, with each block building on the one before it.\n\nThe cryptographic hash function ensures that once a block has been added to the chain, it cannot be altered or replaced without also changing all of the subsequent blocks in the chain.\n\nThis creates a tamper-evident record of all transactions that have occurred on the blockchain, which can be used to verify the integrity of the data stored on the chain.\n", - "title": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain" - } - } - } - }, - { - "privateKey": { - "title": "Public Key Cryptography", - "questions": { - "privateKey": { - "answers": [ - "To sign transactions and prove ownership of Bitcoins", - "To verify the ownership of a Bitcoin address", - "To make a stranger fall in love by posting it on social media" - ], - "feedback": [ - "Correct! The private key is used to sign transactions and prove ownership of Bitcoins. It's an essential part of the process of sending and receiving Bitcoin payments, and it's important to keep it secret and secure. Good job", - "Almost. **** While the private key can be used to verify the ownership of a Bitcoin address, that's not its primary purpose", - "Posting it on social media would be like posting your bank account login information online - it's a surefire way to get your Bitcoins stolen. Better stick to more traditional methods of winning someone's heart!" - ], - "question": "What is the purpose of the private key in a Bitcoin transaction", - "text": "Another cornerstone of Bitcoin is Public Key Cryptography that uses a pair of keys - a public key and a private key - to sign transactions and verify the ownership of Bitcoin addresses.\n\nThe private key is a long string of characters that is used to authorize Bitcoin transactions. It is often represented as a combination of 12 words (sometimes 24). Only in the correct order do the words result in the corresponding private key.\n\nWhoever knows the private key of a bitcoin address can control the bitcoin in that address. Therefore it is important that it is kept secret and never shared with anyone. Ideally, it should be stored offline, so that no unwanted program can access it. \n", - "title": "What is the purpose of the private key in a Bitcoin transaction" - } - } - } - }, - { - "publicKey": { - "title": "Bitcoin Addresses and the Master Public Key", - "questions": { - "publicKey": { - "answers": [ - "To generate an unlimited number of Bitcoin addresses from a single key", - "To authorize Bitcoin transactions", - "To verify that the supply of all bitcoin in existence does not exceed 21 million" - ], - "feedback": [ - "Correct! It's worth noting that, while funds can only be moved with the private key, it might be a good idea to not share the master public key on a public forum to preserve financial privacy. Only share Bitcoin addresses with payers to receive payments", - "No, the master public key is not used to authorize Bitcoin transactions. That's the job of the private key. Try again", - "No. While every user can independently verify the monetary supply of in the bitcoin network with a bitcoin node, this is not what the master public key is used for. Try again." - ], - "question": "What is the purpose of a master public key in Bitcoin", - "text": "A master public key in Bitcoin is a key that is cryptographically derived from a Bitcoin private key and is used to generate Bitcoin addresses that payers can send Bitcoin to.\n\nIt can be used to generate an unlimited number of Bitcoin addresses from a single master public key.\n\nWhile the private key is used to authorize Bitcoin transactions and therefore needs to be kept private, the Bitcoin addresses derived from the public key can be shared with a payer to receive payments from them.\n\nMaster public keys consist of a long sequence of numbers and letters and begin with xpub, ypub or zpub.\n\nA Bitcoin address for receiving payments starts with either 1, 3 or bc1.\n", - "title": "What is the purpose of a master public key in Bitcoin" - } - } - } - }, - { - "mining": { - "title": "Mining", - "questions": { - "mining": { - "answers": [ - "To add transactions to the blockchain and secure the network", - "To make a lot of money", - "To amass giant amounts of computation power for AI to take over the world" - ], - "feedback": [ - "Correct! Miners perform work in the form of computations and compete with other miners for who can add the next block of transactions to the blockchain and earn the block reward", - "That's not the main purpose of mining. **** While it's true that miners do receive a reward in bitcoin for their efforts, they also have to pay for the electricity they use to perform computations. Try again", - "Wow, that's an ambitious goal! While it's true that mining requires a significant amount of computational power, I'm pretty sure the main purpose is not to create an army of AI overlords. Better luck next time!" - ], - "question": "What is the main purpose of mining in the bitcoin network", - "text": "When a user wants to send a transaction in the bitcoin network, they need to sign the transaction with their private key to prove that they are the owner of the funds being transferred. Once the transaction is signed, it is broadcasted to the peer-to-peer network.\n\nMining is the process of adding transactions to the bitcoin blockchain. When a transaction is broadcasted to the network, it is picked up by miners, who verify that the transaction is valid (i.e., the user has the necessary funds and the private key used to sign the transaction corresponds to the public key associated with the funds).\n\nOnce a transaction has been verified, it is added to a block of transactions, along with a mathematical puzzle. Miners compete to solve the puzzle, and the first one to solve it gets to add the block to the blockchain and claim a reward in bitcoin. The reward is currently 6.25 bitcoins, plus any transaction fees that were included in the block.\n\nIn addition to adding transactions to the blockchain, mining also serves to secure the bitcoin network. This is because solving the puzzle requires a significant amount of computational power, and adding a block to the blockchain requires other miners to verify the solution. This makes it very difficult for any one person or group to manipulate the blockchain.\n", - "title": "What is the main purpose of mining in the bitcoin network" - } - } - } - }, - { - "proofOfWork": { - "title": "Proof of Work", - "questions": { - "proofOfWork": { - "answers": [ - "Through proof of work, which involves miners competing to solve a mathematical puzzle", - "By holding a lottery among all those that have bitcoins in a wallet", - "Through a process of majority voting" - ], - "feedback": [ - "Correct! Congrats on understanding how the bitcoin network creates a source of truth that cannot be manipulated by wealthy elites or insiders", - "No, this would be proof of stake, which is a different consensus mechanism that involves choosing the next block producer proportional to their stake (how many coins they hold) in the network. Try again", - "Wrong, but it's an interesting idea. The bitcoin network does not use a process of majority voting to create a source of truth. Try again!" - ], - "question": "How does the Bitcoin network create a source of truth despite having no central authority", - "text": "Decentralized systems, by definition, do not have a single source of truth.\n\nSatoshi's breakthrough was to build a system that allows all participants to zero in on the same truth independently. Proof of work is what allows this to happen. The point of proof of work is to create an irrefutable history. If two histories compete, the one with the most work embedded in it wins.\n\nThe chain with the most work is the truth, by definition. This is called Nakamoto consensus. This works because work requires energy. In Bitcoin, work is computation. Not any kind of computation, but computation that has no shortcut: guessing.\n\n In the absence of a central authority, proof of work is necessary because it ensures that there is no shortcut to adding transactions to the blockchain.\n\n Miners must compete to solve the puzzle through brute force computation, which is probabilistic in nature, and the proof that the work has been done becomes self-evident in the outcome of the work. This makes it very difficult for any one person or group to manipulate the transaction history.\n", - "title": "How does the Bitcoin network create a source of truth despite having no central authority" - } - } - } - }, - { - "difficultyAdjustment": { - "title": "Difficulty Adjustment", - "questions": { - "difficultyAdjustment": { - "answers": [ - "It is reduced by half", - "It is doubled", - "It is multiplied by a random number chosen by the bitcoin software" - ], - "feedback": [ - "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", - "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", - "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" - ], - "question": "What happens to the block reward in the bitcoin network every four years", - "text": "A crucial element of the Bitcoin protocol is the Difficulty Adjustment. This algorithm ensures that new blocks are found every 10 minutes on average.\n\nWhen more miners join the network, the average time required to find a new block goes down. In the opposite case, when miners leave the network, it takes longer to add a new block. The Difficulty Adjustment algorithm adjusts the difficulty of the mathematical puzzle to match changes in the combined computing power of all miners. This prevents the creation of more (or less) bitcoin units than the predetermined supply schedule.\n\nThis is in stark contrast to physical mining of precious metals like gold where adding more gold miners leads to a higher supply of gold and therefore a decrease in its price. In Bitcoin however, the addition of new miners only adds more security to the network.\n", - "title": "What happens to the block reward in the bitcoin network every four years" - } - } - } - }, - { - "halving": { - "title": "The Halving", - "questions": { - "halving": { - "answers": [ - "It is reduced by half", - "It is doubled", - "It is multiplied by a random number chosen by the bitcoin software" - ], - "feedback": [ - "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", - "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", - "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" - ], - "question": "What happens to the block reward in the bitcoin network every four years", - "text": "One final element that is important to understand, is that the block reward in the bitcoin network is reduced by half every four years, or every 210,000 blocks.\n\nThis event, known as the \"halving\", is programmed into the bitcoin software that all users run. When bitcoin was first launched, miners received 50 new bitcoins for each block they added to the blockchain. Currently, the block reward is 6.25 bitcoins, but it will be reduced to 3.125 bitcoins in 2024 when the next halving occurs.\n\nThese halvings will continue to take place until the year 2140, at which point the total number of bitcoins that will have been mined will be capped at 21 million. As of 2023, around 92% of all bitcoins (\\~19.3 million) have already been mined.\n\nUnlike fiat currencies, which can be inflationary, bitcoin is disinflationary in nature. This makes it more scarce than fiat and precious metals such as gold and silver, or anything else known in the universe.\n", - "title": "What happens to the block reward in the bitcoin network every four years" - } +{ + "BitcoinHowdoesitwork": { + "title": "Bitcoin: How does it work?", + "questions": { + "peer2Peer": { + "answers": [ + "The blockchain", + "The internet", + "A decentralized network of nodes" + ], + "feedback": [ + "Correct! Satoshi was the first to successfully implement the blockchain - a concept first described in 1991 by Stuart Haber and W. Scott Stornetta. It's a decentralized form of bookkeeping that is resistant to tampering and allows users to make and verify transactions without the need for a central authority", + "No. The internet is a global network of interconnected computers, but it was not invented by Satoshi and does not solve issues of centralization and double spends. Try again", + "A decentralized network of nodes is an important part of Bitcoin, but it does not solve issues of centralization and double spends by itself. Try again!" + ], + "question": "Which technology did Satoshi implement to solve issues of centralization and double spends", + "text": "To solve the earlier mentioned issues of centralization and possible double spends, Satoshi invented a solution based on a decentralized network of nodes.\n\nNodes are computers that are in constant contact with each other. This by itself is nothing new. The internet itself has a similar infrastructure of interconnected nodes.\n\nAll bitcoin nodes, however, store a copy of the ledger of all transactions in the history of the Bitcoin network.\n\nThis new, decentralized form of bookkeeping, called blockchain, was first successfully implemented in Bitcoin and is extremely resistant to tampering.\n", + "title": "Which technology did Satoshi implement to solve issues of centralization and double spends" + }, + "blockchain": { + "answers": [ + "To create a tamper-evident record of all transactions on the blockchain", + "To ensure that blocks can be altered or replaced easily", + "To make sure that the Artificial Intelligence that created Bitcoin has enough computation power to take over the world" + ], + "feedback": [ + "Correct! The cryptographic hash function helps to create a tamper-evident record of all transactions on the blockchain, which can be used to verify the integrity of the data stored on the chain. Did you know that the cryptographic hash function is also an essential part of the proof-of-work mechanism that helps to secure the Bitcoin network", + "That's a hilarious idea, but no, the cryptographic hash function actually ensures the opposite. Try again", + "Ha! I'm not sure who told you that the Bitcoin blockchain was created by AI, but I think they might have been pulling your leg. Try again!" + ], + "question": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain", + "text": "The Bitcoin blockchain is a distributed database that maintains a continuously growing list of Bitcoin transactions called blocks.\n\nBlocks are anchored to each other through the use of cryptographic hashes. Each block contains a cryptographic hash of the previous block, as well as a timestamp and transaction data. This creates a chain of blocks that are all linked together, with each block building on the one before it.\n\nThe cryptographic hash function ensures that once a block has been added to the chain, it cannot be altered or replaced without also changing all of the subsequent blocks in the chain.\n\nThis creates a tamper-evident record of all transactions that have occurred on the blockchain, which can be used to verify the integrity of the data stored on the chain.\n", + "title": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain" + }, + "privateKey": { + "answers": [ + "To sign transactions and prove ownership of Bitcoins", + "To verify the ownership of a Bitcoin address", + "To make a stranger fall in love by posting it on social media" + ], + "feedback": [ + "Correct! The private key is used to sign transactions and prove ownership of Bitcoins. It's an essential part of the process of sending and receiving Bitcoin payments, and it's important to keep it secret and secure. Good job", + "Almost. **** While the private key can be used to verify the ownership of a Bitcoin address, that's not its primary purpose", + "Posting it on social media would be like posting your bank account login information online - it's a surefire way to get your Bitcoins stolen. Better stick to more traditional methods of winning someone's heart!" + ], + "question": "What is the purpose of the private key in a Bitcoin transaction", + "text": "Another cornerstone of Bitcoin is Public Key Cryptography that uses a pair of keys - a public key and a private key - to sign transactions and verify the ownership of Bitcoin addresses.\n\nThe private key is a long string of characters that is used to authorize Bitcoin transactions. It is often represented as a combination of 12 words (sometimes 24). Only in the correct order do the words result in the corresponding private key.\n\nWhoever knows the private key of a bitcoin address can control the bitcoin in that address. Therefore it is important that it is kept secret and never shared with anyone. Ideally, it should be stored offline, so that no unwanted program can access it. \n", + "title": "What is the purpose of the private key in a Bitcoin transaction" + }, + "publicKey": { + "answers": [ + "To generate an unlimited number of Bitcoin addresses from a single key", + "To authorize Bitcoin transactions", + "To verify that the supply of all bitcoin in existence does not exceed 21 million" + ], + "feedback": [ + "Correct! It's worth noting that, while funds can only be moved with the private key, it might be a good idea to not share the master public key on a public forum to preserve financial privacy. Only share Bitcoin addresses with payers to receive payments", + "No, the master public key is not used to authorize Bitcoin transactions. That's the job of the private key. Try again", + "No. While every user can independently verify the monetary supply of in the bitcoin network with a bitcoin node, this is not what the master public key is used for. Try again." + ], + "question": "What is the purpose of a master public key in Bitcoin", + "text": "A master public key in Bitcoin is a key that is cryptographically derived from a Bitcoin private key and is used to generate Bitcoin addresses that payers can send Bitcoin to.\n\nIt can be used to generate an unlimited number of Bitcoin addresses from a single master public key.\n\nWhile the private key is used to authorize Bitcoin transactions and therefore needs to be kept private, the Bitcoin addresses derived from the public key can be shared with a payer to receive payments from them.\n\nMaster public keys consist of a long sequence of numbers and letters and begin with xpub, ypub or zpub.\n\nA Bitcoin address for receiving payments starts with either 1, 3 or bc1.\n", + "title": "What is the purpose of a master public key in Bitcoin" + }, + "mining": { + "answers": [ + "To add transactions to the blockchain and secure the network", + "To make a lot of money", + "To amass giant amounts of computation power for AI to take over the world" + ], + "feedback": [ + "Correct! Miners perform work in the form of computations and compete with other miners for who can add the next block of transactions to the blockchain and earn the block reward", + "That's not the main purpose of mining. **** While it's true that miners do receive a reward in bitcoin for their efforts, they also have to pay for the electricity they use to perform computations. Try again", + "Wow, that's an ambitious goal! While it's true that mining requires a significant amount of computational power, I'm pretty sure the main purpose is not to create an army of AI overlords. Better luck next time!" + ], + "question": "What is the main purpose of mining in the bitcoin network", + "text": "When a user wants to send a transaction in the bitcoin network, they need to sign the transaction with their private key to prove that they are the owner of the funds being transferred. Once the transaction is signed, it is broadcasted to the peer-to-peer network.\n\nMining is the process of adding transactions to the bitcoin blockchain. When a transaction is broadcasted to the network, it is picked up by miners, who verify that the transaction is valid (i.e., the user has the necessary funds and the private key used to sign the transaction corresponds to the public key associated with the funds).\n\nOnce a transaction has been verified, it is added to a block of transactions, along with a mathematical puzzle. Miners compete to solve the puzzle, and the first one to solve it gets to add the block to the blockchain and claim a reward in bitcoin. The reward is currently 6.25 bitcoins, plus any transaction fees that were included in the block.\n\nIn addition to adding transactions to the blockchain, mining also serves to secure the bitcoin network. This is because solving the puzzle requires a significant amount of computational power, and adding a block to the blockchain requires other miners to verify the solution. This makes it very difficult for any one person or group to manipulate the blockchain.\n", + "title": "What is the main purpose of mining in the bitcoin network" + }, + "proofOfWork": { + "answers": [ + "Through proof of work, which involves miners competing to solve a mathematical puzzle", + "By holding a lottery among all those that have bitcoins in a wallet", + "Through a process of majority voting" + ], + "feedback": [ + "Correct! Congrats on understanding how the bitcoin network creates a source of truth that cannot be manipulated by wealthy elites or insiders", + "No, this would be proof of stake, which is a different consensus mechanism that involves choosing the next block producer proportional to their stake (how many coins they hold) in the network. Try again", + "Wrong, but it's an interesting idea. The bitcoin network does not use a process of majority voting to create a source of truth. Try again!" + ], + "question": "How does the Bitcoin network create a source of truth despite having no central authority", + "text": "Decentralized systems, by definition, do not have a single source of truth.\n\nSatoshi's breakthrough was to build a system that allows all participants to zero in on the same truth independently. Proof of work is what allows this to happen. The point of proof of work is to create an irrefutable history. If two histories compete, the one with the most work embedded in it wins.\n\nThe chain with the most work is the truth, by definition. This is called Nakamoto consensus. This works because work requires energy. In Bitcoin, work is computation. Not any kind of computation, but computation that has no shortcut: guessing.\n\n In the absence of a central authority, proof of work is necessary because it ensures that there is no shortcut to adding transactions to the blockchain.\n\n Miners must compete to solve the puzzle through brute force computation, which is probabilistic in nature, and the proof that the work has been done becomes self-evident in the outcome of the work. This makes it very difficult for any one person or group to manipulate the transaction history.\n", + "title": "How does the Bitcoin network create a source of truth despite having no central authority" + }, + "difficultyAdjustment": { + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "A crucial element of the Bitcoin protocol is the Difficulty Adjustment. This algorithm ensures that new blocks are found every 10 minutes on average.\n\nWhen more miners join the network, the average time required to find a new block goes down. In the opposite case, when miners leave the network, it takes longer to add a new block. The Difficulty Adjustment algorithm adjusts the difficulty of the mathematical puzzle to match changes in the combined computing power of all miners. This prevents the creation of more (or less) bitcoin units than the predetermined supply schedule.\n\nThis is in stark contrast to physical mining of precious metals like gold where adding more gold miners leads to a higher supply of gold and therefore a decrease in its price. In Bitcoin however, the addition of new miners only adds more security to the network.\n", + "title": "What happens to the block reward in the bitcoin network every four years" + }, + "halving": { + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "One final element that is important to understand, is that the block reward in the bitcoin network is reduced by half every four years, or every 210,000 blocks.\n\nThis event, known as the \"halving\", is programmed into the bitcoin software that all users run. When bitcoin was first launched, miners received 50 new bitcoins for each block they added to the blockchain. Currently, the block reward is 6.25 bitcoins, but it will be reduced to 3.125 bitcoins in 2024 when the next halving occurs.\n\nThese halvings will continue to take place until the year 2140, at which point the total number of bitcoins that will have been mined will be capped at 21 million. As of 2023, around 92% of all bitcoins (\\~19.3 million) have already been mined.\n\nUnlike fiat currencies, which can be inflationary, bitcoin is disinflationary in nature. This makes it more scarce than fiat and precious metals such as gold and silver, or anything else known in the universe.\n", + "title": "What happens to the block reward in the bitcoin network every four years" } } } -] +} diff --git a/chapter-302-bitcoin-how-does-it-work/302.01-lesson-peer-2-peer.json b/chapter-302-bitcoin-how-does-it-work/302.01-lesson-peer-2-peer.json index 13031f3..313f058 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.01-lesson-peer-2-peer.json +++ b/chapter-302-bitcoin-how-does-it-work/302.01-lesson-peer-2-peer.json @@ -1,22 +1,18 @@ { "peer2Peer": { - "title": "Peer-to-Peer Network", - "questions": { - "peer2Peer": { - "answers": [ - "The blockchain", - "The internet", - "A decentralized network of nodes" - ], - "feedback": [ - "Correct! Satoshi was the first to successfully implement the blockchain - a concept first described in 1991 by Stuart Haber and W. Scott Stornetta. It's a decentralized form of bookkeeping that is resistant to tampering and allows users to make and verify transactions without the need for a central authority", - "No. The internet is a global network of interconnected computers, but it was not invented by Satoshi and does not solve issues of centralization and double spends. Try again", - "A decentralized network of nodes is an important part of Bitcoin, but it does not solve issues of centralization and double spends by itself. Try again!" - ], - "question": "Which technology did Satoshi implement to solve issues of centralization and double spends", - "text": "To solve the earlier mentioned issues of centralization and possible double spends, Satoshi invented a solution based on a decentralized network of nodes.\n\nNodes are computers that are in constant contact with each other. This by itself is nothing new. The internet itself has a similar infrastructure of interconnected nodes.\n\nAll bitcoin nodes, however, store a copy of the ledger of all transactions in the history of the Bitcoin network.\n\nThis new, decentralized form of bookkeeping, called blockchain, was first successfully implemented in Bitcoin and is extremely resistant to tampering.\n", - "title": "Which technology did Satoshi implement to solve issues of centralization and double spends" - } - } + "screen": "peer2Peer", + "answers": [ + "The blockchain", + "The internet", + "A decentralized network of nodes" + ], + "feedback": [ + "Correct! Satoshi was the first to successfully implement the blockchain - a concept first described in 1991 by Stuart Haber and W. Scott Stornetta. It's a decentralized form of bookkeeping that is resistant to tampering and allows users to make and verify transactions without the need for a central authority", + "No. The internet is a global network of interconnected computers, but it was not invented by Satoshi and does not solve issues of centralization and double spends. Try again", + "A decentralized network of nodes is an important part of Bitcoin, but it does not solve issues of centralization and double spends by itself. Try again!" + ], + "question": "Which technology did Satoshi implement to solve issues of centralization and double spends", + "text": "To solve the earlier mentioned issues of centralization and possible double spends, Satoshi invented a solution based on a decentralized network of nodes.\n\nNodes are computers that are in constant contact with each other. This by itself is nothing new. The internet itself has a similar infrastructure of interconnected nodes.\n\nAll bitcoin nodes, however, store a copy of the ledger of all transactions in the history of the Bitcoin network.\n\nThis new, decentralized form of bookkeeping, called blockchain, was first successfully implemented in Bitcoin and is extremely resistant to tampering.\n", + "title": "Which technology did Satoshi implement to solve issues of centralization and double spends" } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.02-lesson-blockchain.json b/chapter-302-bitcoin-how-does-it-work/302.02-lesson-blockchain.json index bb25eda..07f7b5e 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.02-lesson-blockchain.json +++ b/chapter-302-bitcoin-how-does-it-work/302.02-lesson-blockchain.json @@ -1,22 +1,18 @@ { "blockchain": { - "title": "What is a blockchain exactly?", - "questions": { - "blockchain": { - "answers": [ - "To create a tamper-evident record of all transactions on the blockchain", - "To ensure that blocks can be altered or replaced easily", - "To make sure that the Artificial Intelligence that created Bitcoin has enough computation power to take over the world" - ], - "feedback": [ - "Correct! The cryptographic hash function helps to create a tamper-evident record of all transactions on the blockchain, which can be used to verify the integrity of the data stored on the chain. Did you know that the cryptographic hash function is also an essential part of the proof-of-work mechanism that helps to secure the Bitcoin network", - "That's a hilarious idea, but no, the cryptographic hash function actually ensures the opposite. Try again", - "Ha! I'm not sure who told you that the Bitcoin blockchain was created by AI, but I think they might have been pulling your leg. Try again!" - ], - "question": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain", - "text": "The Bitcoin blockchain is a distributed database that maintains a continuously growing list of Bitcoin transactions called blocks.\n\nBlocks are anchored to each other through the use of cryptographic hashes. Each block contains a cryptographic hash of the previous block, as well as a timestamp and transaction data. This creates a chain of blocks that are all linked together, with each block building on the one before it.\n\nThe cryptographic hash function ensures that once a block has been added to the chain, it cannot be altered or replaced without also changing all of the subsequent blocks in the chain.\n\nThis creates a tamper-evident record of all transactions that have occurred on the blockchain, which can be used to verify the integrity of the data stored on the chain.\n", - "title": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain" - } - } + "screen": "blockchain", + "answers": [ + "To create a tamper-evident record of all transactions on the blockchain", + "To ensure that blocks can be altered or replaced easily", + "To make sure that the Artificial Intelligence that created Bitcoin has enough computation power to take over the world" + ], + "feedback": [ + "Correct! The cryptographic hash function helps to create a tamper-evident record of all transactions on the blockchain, which can be used to verify the integrity of the data stored on the chain. Did you know that the cryptographic hash function is also an essential part of the proof-of-work mechanism that helps to secure the Bitcoin network", + "That's a hilarious idea, but no, the cryptographic hash function actually ensures the opposite. Try again", + "Ha! I'm not sure who told you that the Bitcoin blockchain was created by AI, but I think they might have been pulling your leg. Try again!" + ], + "question": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain", + "text": "The Bitcoin blockchain is a distributed database that maintains a continuously growing list of Bitcoin transactions called blocks.\n\nBlocks are anchored to each other through the use of cryptographic hashes. Each block contains a cryptographic hash of the previous block, as well as a timestamp and transaction data. This creates a chain of blocks that are all linked together, with each block building on the one before it.\n\nThe cryptographic hash function ensures that once a block has been added to the chain, it cannot be altered or replaced without also changing all of the subsequent blocks in the chain.\n\nThis creates a tamper-evident record of all transactions that have occurred on the blockchain, which can be used to verify the integrity of the data stored on the chain.\n", + "title": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain" } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.03-lesson-private-key.json b/chapter-302-bitcoin-how-does-it-work/302.03-lesson-private-key.json index 26efd85..d80c2e3 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.03-lesson-private-key.json +++ b/chapter-302-bitcoin-how-does-it-work/302.03-lesson-private-key.json @@ -1,22 +1,18 @@ { "privateKey": { - "title": "Public Key Cryptography", - "questions": { - "privateKey": { - "answers": [ - "To sign transactions and prove ownership of Bitcoins", - "To verify the ownership of a Bitcoin address", - "To make a stranger fall in love by posting it on social media" - ], - "feedback": [ - "Correct! The private key is used to sign transactions and prove ownership of Bitcoins. It's an essential part of the process of sending and receiving Bitcoin payments, and it's important to keep it secret and secure. Good job", - "Almost. **** While the private key can be used to verify the ownership of a Bitcoin address, that's not its primary purpose", - "Posting it on social media would be like posting your bank account login information online - it's a surefire way to get your Bitcoins stolen. Better stick to more traditional methods of winning someone's heart!" - ], - "question": "What is the purpose of the private key in a Bitcoin transaction", - "text": "Another cornerstone of Bitcoin is Public Key Cryptography that uses a pair of keys - a public key and a private key - to sign transactions and verify the ownership of Bitcoin addresses.\n\nThe private key is a long string of characters that is used to authorize Bitcoin transactions. It is often represented as a combination of 12 words (sometimes 24). Only in the correct order do the words result in the corresponding private key.\n\nWhoever knows the private key of a bitcoin address can control the bitcoin in that address. Therefore it is important that it is kept secret and never shared with anyone. Ideally, it should be stored offline, so that no unwanted program can access it. \n", - "title": "What is the purpose of the private key in a Bitcoin transaction" - } - } + "screen": "privateKey", + "answers": [ + "To sign transactions and prove ownership of Bitcoins", + "To verify the ownership of a Bitcoin address", + "To make a stranger fall in love by posting it on social media" + ], + "feedback": [ + "Correct! The private key is used to sign transactions and prove ownership of Bitcoins. It's an essential part of the process of sending and receiving Bitcoin payments, and it's important to keep it secret and secure. Good job", + "Almost. **** While the private key can be used to verify the ownership of a Bitcoin address, that's not its primary purpose", + "Posting it on social media would be like posting your bank account login information online - it's a surefire way to get your Bitcoins stolen. Better stick to more traditional methods of winning someone's heart!" + ], + "question": "What is the purpose of the private key in a Bitcoin transaction", + "text": "Another cornerstone of Bitcoin is Public Key Cryptography that uses a pair of keys - a public key and a private key - to sign transactions and verify the ownership of Bitcoin addresses.\n\nThe private key is a long string of characters that is used to authorize Bitcoin transactions. It is often represented as a combination of 12 words (sometimes 24). Only in the correct order do the words result in the corresponding private key.\n\nWhoever knows the private key of a bitcoin address can control the bitcoin in that address. Therefore it is important that it is kept secret and never shared with anyone. Ideally, it should be stored offline, so that no unwanted program can access it. \n", + "title": "What is the purpose of the private key in a Bitcoin transaction" } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.04-lesson-public-key.json b/chapter-302-bitcoin-how-does-it-work/302.04-lesson-public-key.json index 3203b74..ffa86d3 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.04-lesson-public-key.json +++ b/chapter-302-bitcoin-how-does-it-work/302.04-lesson-public-key.json @@ -1,22 +1,18 @@ { "publicKey": { - "title": "Bitcoin Addresses and the Master Public Key", - "questions": { - "publicKey": { - "answers": [ - "To generate an unlimited number of Bitcoin addresses from a single key", - "To authorize Bitcoin transactions", - "To verify that the supply of all bitcoin in existence does not exceed 21 million" - ], - "feedback": [ - "Correct! It's worth noting that, while funds can only be moved with the private key, it might be a good idea to not share the master public key on a public forum to preserve financial privacy. Only share Bitcoin addresses with payers to receive payments", - "No, the master public key is not used to authorize Bitcoin transactions. That's the job of the private key. Try again", - "No. While every user can independently verify the monetary supply of in the bitcoin network with a bitcoin node, this is not what the master public key is used for. Try again." - ], - "question": "What is the purpose of a master public key in Bitcoin", - "text": "A master public key in Bitcoin is a key that is cryptographically derived from a Bitcoin private key and is used to generate Bitcoin addresses that payers can send Bitcoin to.\n\nIt can be used to generate an unlimited number of Bitcoin addresses from a single master public key.\n\nWhile the private key is used to authorize Bitcoin transactions and therefore needs to be kept private, the Bitcoin addresses derived from the public key can be shared with a payer to receive payments from them.\n\nMaster public keys consist of a long sequence of numbers and letters and begin with xpub, ypub or zpub.\n\nA Bitcoin address for receiving payments starts with either 1, 3 or bc1.\n", - "title": "What is the purpose of a master public key in Bitcoin" - } - } + "screen": "publicKey", + "answers": [ + "To generate an unlimited number of Bitcoin addresses from a single key", + "To authorize Bitcoin transactions", + "To verify that the supply of all bitcoin in existence does not exceed 21 million" + ], + "feedback": [ + "Correct! It's worth noting that, while funds can only be moved with the private key, it might be a good idea to not share the master public key on a public forum to preserve financial privacy. Only share Bitcoin addresses with payers to receive payments", + "No, the master public key is not used to authorize Bitcoin transactions. That's the job of the private key. Try again", + "No. While every user can independently verify the monetary supply of in the bitcoin network with a bitcoin node, this is not what the master public key is used for. Try again." + ], + "question": "What is the purpose of a master public key in Bitcoin", + "text": "A master public key in Bitcoin is a key that is cryptographically derived from a Bitcoin private key and is used to generate Bitcoin addresses that payers can send Bitcoin to.\n\nIt can be used to generate an unlimited number of Bitcoin addresses from a single master public key.\n\nWhile the private key is used to authorize Bitcoin transactions and therefore needs to be kept private, the Bitcoin addresses derived from the public key can be shared with a payer to receive payments from them.\n\nMaster public keys consist of a long sequence of numbers and letters and begin with xpub, ypub or zpub.\n\nA Bitcoin address for receiving payments starts with either 1, 3 or bc1.\n", + "title": "What is the purpose of a master public key in Bitcoin" } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.05-lesson-mining.json b/chapter-302-bitcoin-how-does-it-work/302.05-lesson-mining.json index 0963eb3..5516429 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.05-lesson-mining.json +++ b/chapter-302-bitcoin-how-does-it-work/302.05-lesson-mining.json @@ -1,22 +1,18 @@ { "mining": { - "title": "Mining", - "questions": { - "mining": { - "answers": [ - "To add transactions to the blockchain and secure the network", - "To make a lot of money", - "To amass giant amounts of computation power for AI to take over the world" - ], - "feedback": [ - "Correct! Miners perform work in the form of computations and compete with other miners for who can add the next block of transactions to the blockchain and earn the block reward", - "That's not the main purpose of mining. **** While it's true that miners do receive a reward in bitcoin for their efforts, they also have to pay for the electricity they use to perform computations. Try again", - "Wow, that's an ambitious goal! While it's true that mining requires a significant amount of computational power, I'm pretty sure the main purpose is not to create an army of AI overlords. Better luck next time!" - ], - "question": "What is the main purpose of mining in the bitcoin network", - "text": "When a user wants to send a transaction in the bitcoin network, they need to sign the transaction with their private key to prove that they are the owner of the funds being transferred. Once the transaction is signed, it is broadcasted to the peer-to-peer network.\n\nMining is the process of adding transactions to the bitcoin blockchain. When a transaction is broadcasted to the network, it is picked up by miners, who verify that the transaction is valid (i.e., the user has the necessary funds and the private key used to sign the transaction corresponds to the public key associated with the funds).\n\nOnce a transaction has been verified, it is added to a block of transactions, along with a mathematical puzzle. Miners compete to solve the puzzle, and the first one to solve it gets to add the block to the blockchain and claim a reward in bitcoin. The reward is currently 6.25 bitcoins, plus any transaction fees that were included in the block.\n\nIn addition to adding transactions to the blockchain, mining also serves to secure the bitcoin network. This is because solving the puzzle requires a significant amount of computational power, and adding a block to the blockchain requires other miners to verify the solution. This makes it very difficult for any one person or group to manipulate the blockchain.\n", - "title": "What is the main purpose of mining in the bitcoin network" - } - } + "screen": "mining", + "answers": [ + "To add transactions to the blockchain and secure the network", + "To make a lot of money", + "To amass giant amounts of computation power for AI to take over the world" + ], + "feedback": [ + "Correct! Miners perform work in the form of computations and compete with other miners for who can add the next block of transactions to the blockchain and earn the block reward", + "That's not the main purpose of mining. **** While it's true that miners do receive a reward in bitcoin for their efforts, they also have to pay for the electricity they use to perform computations. Try again", + "Wow, that's an ambitious goal! While it's true that mining requires a significant amount of computational power, I'm pretty sure the main purpose is not to create an army of AI overlords. Better luck next time!" + ], + "question": "What is the main purpose of mining in the bitcoin network", + "text": "When a user wants to send a transaction in the bitcoin network, they need to sign the transaction with their private key to prove that they are the owner of the funds being transferred. Once the transaction is signed, it is broadcasted to the peer-to-peer network.\n\nMining is the process of adding transactions to the bitcoin blockchain. When a transaction is broadcasted to the network, it is picked up by miners, who verify that the transaction is valid (i.e., the user has the necessary funds and the private key used to sign the transaction corresponds to the public key associated with the funds).\n\nOnce a transaction has been verified, it is added to a block of transactions, along with a mathematical puzzle. Miners compete to solve the puzzle, and the first one to solve it gets to add the block to the blockchain and claim a reward in bitcoin. The reward is currently 6.25 bitcoins, plus any transaction fees that were included in the block.\n\nIn addition to adding transactions to the blockchain, mining also serves to secure the bitcoin network. This is because solving the puzzle requires a significant amount of computational power, and adding a block to the blockchain requires other miners to verify the solution. This makes it very difficult for any one person or group to manipulate the blockchain.\n", + "title": "What is the main purpose of mining in the bitcoin network" } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.06-lesson-proof-of-work.json b/chapter-302-bitcoin-how-does-it-work/302.06-lesson-proof-of-work.json index b0dcf9f..ee5697b 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.06-lesson-proof-of-work.json +++ b/chapter-302-bitcoin-how-does-it-work/302.06-lesson-proof-of-work.json @@ -1,22 +1,18 @@ { "proofOfWork": { - "title": "Proof of Work", - "questions": { - "proofOfWork": { - "answers": [ - "Through proof of work, which involves miners competing to solve a mathematical puzzle", - "By holding a lottery among all those that have bitcoins in a wallet", - "Through a process of majority voting" - ], - "feedback": [ - "Correct! Congrats on understanding how the bitcoin network creates a source of truth that cannot be manipulated by wealthy elites or insiders", - "No, this would be proof of stake, which is a different consensus mechanism that involves choosing the next block producer proportional to their stake (how many coins they hold) in the network. Try again", - "Wrong, but it's an interesting idea. The bitcoin network does not use a process of majority voting to create a source of truth. Try again!" - ], - "question": "How does the Bitcoin network create a source of truth despite having no central authority", - "text": "Decentralized systems, by definition, do not have a single source of truth.\n\nSatoshi's breakthrough was to build a system that allows all participants to zero in on the same truth independently. Proof of work is what allows this to happen. The point of proof of work is to create an irrefutable history. If two histories compete, the one with the most work embedded in it wins.\n\nThe chain with the most work is the truth, by definition. This is called Nakamoto consensus. This works because work requires energy. In Bitcoin, work is computation. Not any kind of computation, but computation that has no shortcut: guessing.\n\n In the absence of a central authority, proof of work is necessary because it ensures that there is no shortcut to adding transactions to the blockchain.\n\n Miners must compete to solve the puzzle through brute force computation, which is probabilistic in nature, and the proof that the work has been done becomes self-evident in the outcome of the work. This makes it very difficult for any one person or group to manipulate the transaction history.\n", - "title": "How does the Bitcoin network create a source of truth despite having no central authority" - } - } + "screen": "proofOfWork", + "answers": [ + "Through proof of work, which involves miners competing to solve a mathematical puzzle", + "By holding a lottery among all those that have bitcoins in a wallet", + "Through a process of majority voting" + ], + "feedback": [ + "Correct! Congrats on understanding how the bitcoin network creates a source of truth that cannot be manipulated by wealthy elites or insiders", + "No, this would be proof of stake, which is a different consensus mechanism that involves choosing the next block producer proportional to their stake (how many coins they hold) in the network. Try again", + "Wrong, but it's an interesting idea. The bitcoin network does not use a process of majority voting to create a source of truth. Try again!" + ], + "question": "How does the Bitcoin network create a source of truth despite having no central authority", + "text": "Decentralized systems, by definition, do not have a single source of truth.\n\nSatoshi's breakthrough was to build a system that allows all participants to zero in on the same truth independently. Proof of work is what allows this to happen. The point of proof of work is to create an irrefutable history. If two histories compete, the one with the most work embedded in it wins.\n\nThe chain with the most work is the truth, by definition. This is called Nakamoto consensus. This works because work requires energy. In Bitcoin, work is computation. Not any kind of computation, but computation that has no shortcut: guessing.\n\n In the absence of a central authority, proof of work is necessary because it ensures that there is no shortcut to adding transactions to the blockchain.\n\n Miners must compete to solve the puzzle through brute force computation, which is probabilistic in nature, and the proof that the work has been done becomes self-evident in the outcome of the work. This makes it very difficult for any one person or group to manipulate the transaction history.\n", + "title": "How does the Bitcoin network create a source of truth despite having no central authority" } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.07-lesson-difficulty-adjustment.json b/chapter-302-bitcoin-how-does-it-work/302.07-lesson-difficulty-adjustment.json index 3b2cac5..771cb89 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.07-lesson-difficulty-adjustment.json +++ b/chapter-302-bitcoin-how-does-it-work/302.07-lesson-difficulty-adjustment.json @@ -1,22 +1,18 @@ { "difficultyAdjustment": { - "title": "Difficulty Adjustment", - "questions": { - "difficultyAdjustment": { - "answers": [ - "It is reduced by half", - "It is doubled", - "It is multiplied by a random number chosen by the bitcoin software" - ], - "feedback": [ - "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", - "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", - "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" - ], - "question": "What happens to the block reward in the bitcoin network every four years", - "text": "A crucial element of the Bitcoin protocol is the Difficulty Adjustment. This algorithm ensures that new blocks are found every 10 minutes on average.\n\nWhen more miners join the network, the average time required to find a new block goes down. In the opposite case, when miners leave the network, it takes longer to add a new block. The Difficulty Adjustment algorithm adjusts the difficulty of the mathematical puzzle to match changes in the combined computing power of all miners. This prevents the creation of more (or less) bitcoin units than the predetermined supply schedule.\n\nThis is in stark contrast to physical mining of precious metals like gold where adding more gold miners leads to a higher supply of gold and therefore a decrease in its price. In Bitcoin however, the addition of new miners only adds more security to the network.\n", - "title": "What happens to the block reward in the bitcoin network every four years" - } - } + "screen": "difficultyAdjustment", + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "A crucial element of the Bitcoin protocol is the Difficulty Adjustment. This algorithm ensures that new blocks are found every 10 minutes on average.\n\nWhen more miners join the network, the average time required to find a new block goes down. In the opposite case, when miners leave the network, it takes longer to add a new block. The Difficulty Adjustment algorithm adjusts the difficulty of the mathematical puzzle to match changes in the combined computing power of all miners. This prevents the creation of more (or less) bitcoin units than the predetermined supply schedule.\n\nThis is in stark contrast to physical mining of precious metals like gold where adding more gold miners leads to a higher supply of gold and therefore a decrease in its price. In Bitcoin however, the addition of new miners only adds more security to the network.\n", + "title": "What happens to the block reward in the bitcoin network every four years" } } diff --git a/chapter-302-bitcoin-how-does-it-work/302.08-lesson-halving.json b/chapter-302-bitcoin-how-does-it-work/302.08-lesson-halving.json index ca61108..c63107c 100644 --- a/chapter-302-bitcoin-how-does-it-work/302.08-lesson-halving.json +++ b/chapter-302-bitcoin-how-does-it-work/302.08-lesson-halving.json @@ -1,22 +1,18 @@ { "halving": { - "title": "The Halving", - "questions": { - "halving": { - "answers": [ - "It is reduced by half", - "It is doubled", - "It is multiplied by a random number chosen by the bitcoin software" - ], - "feedback": [ - "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", - "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", - "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" - ], - "question": "What happens to the block reward in the bitcoin network every four years", - "text": "One final element that is important to understand, is that the block reward in the bitcoin network is reduced by half every four years, or every 210,000 blocks.\n\nThis event, known as the \"halving\", is programmed into the bitcoin software that all users run. When bitcoin was first launched, miners received 50 new bitcoins for each block they added to the blockchain. Currently, the block reward is 6.25 bitcoins, but it will be reduced to 3.125 bitcoins in 2024 when the next halving occurs.\n\nThese halvings will continue to take place until the year 2140, at which point the total number of bitcoins that will have been mined will be capped at 21 million. As of 2023, around 92% of all bitcoins (\\~19.3 million) have already been mined.\n\nUnlike fiat currencies, which can be inflationary, bitcoin is disinflationary in nature. This makes it more scarce than fiat and precious metals such as gold and silver, or anything else known in the universe.\n", - "title": "What happens to the block reward in the bitcoin network every four years" - } - } + "screen": "halving", + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "One final element that is important to understand, is that the block reward in the bitcoin network is reduced by half every four years, or every 210,000 blocks.\n\nThis event, known as the \"halving\", is programmed into the bitcoin software that all users run. When bitcoin was first launched, miners received 50 new bitcoins for each block they added to the blockchain. Currently, the block reward is 6.25 bitcoins, but it will be reduced to 3.125 bitcoins in 2024 when the next halving occurs.\n\nThese halvings will continue to take place until the year 2140, at which point the total number of bitcoins that will have been mined will be capped at 21 million. As of 2023, around 92% of all bitcoins (\\~19.3 million) have already been mined.\n\nUnlike fiat currencies, which can be inflationary, bitcoin is disinflationary in nature. This makes it more scarce than fiat and precious metals such as gold and silver, or anything else known in the universe.\n", + "title": "What happens to the block reward in the bitcoin network every four years" } } diff --git a/chapter-401-lightning-network/401-combined.json b/chapter-401-lightning-network/401-combined.json index 22f14f2..6749bf3 100644 --- a/chapter-401-lightning-network/401-combined.json +++ b/chapter-401-lightning-network/401-combined.json @@ -1,178 +1,127 @@ -[ - { - "bitcoinDrawbacks": { - "title": "Drawbacks of Bitcoin", - "questions": { - "bitcoinDrawbacks": { - "answers": [ - "It takes too long to confirm transactions", - "It is difficult to use", - "It is not a trusted intermediary" - ], - "feedback": [ - "Correct! Great job! You may be pleased to hear that solutions have been deployed to improve the settlement time of Bitcoin payments to a few seconds. ", - "Wrong! But you are forgiven, Bitcoin is actually very easy to use. Try again", - "Wrong! But don't worry, Bitcoin actually allows anyone to send value without a trusted intermediary. Try again!" - ], - "question": "What is a drawback of Bitcoin's design", - "text": "Bitcoin, the world's most widely used and valuable digital currency, allows anyone to send value without a trusted intermediary.\n\nThere are, however, some drawbacks to bitcoin's design which prioritizes security and decentralization at the cost of scalability.\n\nTransactions confirmed on the bitcoin blockchain take up to one hour before they are irreversible.\n\nMicropayments, or payments less than a few cents, are inconsistently confirmed, and fees render such transactions unviable on the network today.\n\nCurrently, Bitcoin's blockchain can process around 3 transactions per second. This is generally seen as an impediment for Bitcoin to become a currency that facilitates the everyday retail transactions of millions around the world.\n", - "title": "What is a drawback of Bitcoin's design" - } - } - } - }, - { - "blocksizeWars": { - "title": "The Blocksize Wars", - "questions": { - "blocksizeWars": { - "answers": [ - "Whether or not to increase the blocksize", - "Whether or not to censor certain transactions", - "Whether or not to change the consensus algorithm to proof of stake" - ], - "feedback": [ - "Correct. The users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network, showing that Bitcoin is controlled by users, not corporations", - "Not quite. Both sides were publicly in favor of preserving censorship-resistance, however companies in the Bitcoin ecosystem were willing to accept some centralization in exchange for quick wins in scalability. Try again", - "Haha, but no. While there are some dubious voices that demand the abolishment of proof of work in favor of proof of stake, this was never a debate in Bitcoin, and never will be. Try again." - ], - "question": "What was the contention in the Blocksize Wars", - "text": "These drawbacks lead to a debate within the Bitcoin community about the best way to scale the Bitcoin network, often dubbed the Blocksize Wars.\n\nCompanies in the Bitcoin ecosystem argued that increasing the blocksize, which is the maximum size of a block of transactions on the blockchain, would allow more transactions to be processed per second, making the network more efficient and able to handle a larger volume of transactions.\n\nBitcoin users on the other side of the debate argued that increasing the blocksize would centralize the network, as it would require more expensive and powerful computers to process the larger blocks, and could potentially lead to Bitcoin becoming prone to censorship.\n\nThe users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network and demonstrated that Bitcoin is controlled by users, not corporations. This also meant that scaling Bitcoin would require a different enigneering solution than merely increasing the blocksize.\n", - "title": "What was the contention in the Blocksize Wars" - } - } - } - }, - { - "lightningNetwork": { - "title": "The Lightning Network", - "questions": { - "lightningNetwork": { - "answers": [ - "It allows users to make small, near instant payments at low cost", - "It helps users preserve the decentralization of the Bitcoin network", - "It ensures that every transaction is added to the Bitcoin blockchain" - ], - "feedback": [ - "Correct! The Lightning Network allows users to make small, near instant payments at low cost, and it eliminates the need for every transaction to be added to the Bitcoin blockchain. Congrats! As a fun fact, the Lightning Network has helped increase the adoption of Bitcoin by allowing it to process more transactions per second and handle higher volumes of transactions", - "Incorrect! The Lightning Network is actually a scaling solution built on top of the Bitcoin protocol. Try again", - "Incorrect! The Lightning Network actually eliminates the need for every transaction to be added to the Bitcoin blockchain, as it allows for smaller payments to be made off-chain." - ], - "question": "What does the Lightning Network do", - "text": "While users prevailed and preserved the decentralization of the Bitcoin network, a solution to scale Bitcoin proposed by researchers Tadge Dryja and Joseph Poon, called the Lightning Network, started to gain traction and was launched in 2017.\n\nThe Lightning Network, often referred to as just Lightning or LN, is a scaling solution built on top of the Bitcoin protocol. It facilitates smaller, near instant payments between users at very low cost and eliminates the need for every transaction to be added to the Bitcoin blockchain whilst ensuring that the value being transacted abides by the rules of the Bitcoin network.\n", - "title": "What does the Lightning Network do" - } - } - } - }, - { - "instantPayments": { - "title": "Instant Payments", - "questions": { - "instantPayments": { - "answers": [ - "A matter of seconds", - "10 minutes", - "1 hour" - ], - "feedback": [ - "Correct! This makes the Lightning Network a great option for situations where you need to make a payment immediately, such as retail transactions or peer-to-peer payments", - "Incorrect! On the Bitcoin network, transactions are grouped into blocks that are added to the blockchain about every 10 minutes. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure. Try again", - "Incorrect! On the Bitcoin network, payments are considered secure after they have been confirmed by six blocks, or about an hour. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure." - ], - "question": "How long does it take for a payment to be considered secure on the Lightning Network", - "text": "In the Bitcoin network, transactions are grouped together in blocks, and new blocks are added to the blockchain about every 10 minutes. When a payment is made using Bitcoin, it is considered secure after it has been confirmed by six blocks, or about an hour.\n\nOn the Lightning Network, payments do not have to wait for block confirmations to be considered secure. Instead, they are instant and completed all at once in a matter of few seconds.\n\nThis makes it possible to use the Lightning Network for retail transactions, peer-to-peer payments, or any other situation where you need to make a payment immediately.\n", - "title": "How long does it take for a payment to be considered secure on the Lightning Network" - } - } - } - }, - { - "micropayments": { - "title": "Micropayments", - "questions": { - "micropayments": { - "answers": [ - "A payment for a small amount of money, often less than a dollar", - "A payment that requires a minimum amount and fixed fee", - "A payment made using the Lightning Network" - ], - "feedback": [ - "Exactly! These types of payments can be difficult to make using traditional financial systems or the Bitcoin network, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical", - "Nope**.** While traditional financial systems may require a minimum amount and fixed fee for payments, the Lightning Network allows for the possibility of making very small payments without these limitations", - "Not quite! While the Lightning Network does allow for the possibility of making micropayments, a micropayment is not defined as a payment made using the Lightning Network. Try again!" - ], - "question": "What is a micropayment", - "text": "Micropayments refer to very small financial transactions, often for amounts less than a dollar. These types of payments can be difficult to make using traditional financial systems, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical.\n\nThe Lightning Network allows for the possibility of making micropayments using Bitcoin. It enables users to send very small amounts of Bitcoin, down to 1 sat, without the risk of losing control of their funds to a third party (called \"custodial risk\"). \n\nIn contrast, the Bitcoin blockchain currently has minimum transaction amounts and fees that make micropayments impractical. The Lightning Network allows for minimal payments denominated in Bitcoin, using actual Bitcoin transactions. This opens up the possibility of creating new markets and making small payments more practical.\n", - "title": "What is a micropayment" - } - } - } - }, - { - "scalability": { - "title": "Scalability", - "questions": { - "scalability": { - "answers": [ - "To meet the demand for retail and automated payments", - "To make Bitcoin more attractive to investors", - "To get the required licences for interoperability with financial institutions" - ], - "feedback": [ - "That's right. The Lightning Network helps the Bitcoin network achieve scalability by allowing users to conduct nearly unlimited transactions off-chain on a second layer", - "That's not it! While improving the attractiveness of Bitcoin to investors could be a benefit of improving scalability, it is not the main reason why scalability is important for the Bitcoin network", - "Try again! **** Obtaining required licenses for interoperability with financial institutions may be a goal for some organizations working with Bitcoin, but it is not directly related to the concept of scalability." - ], - "question": "Why is scalability important for the Bitcoin network", - "text": "Scalability refers to the ability of a system, such as a network or platform, to handle a large amount of usage or traffic without experiencing issues or slowdowns.\n\nScalability is important for Bitcoin because the network will need to be able to support a much higher volume of transactions in order to meet the demand of retail and automated payments.\n\nThe Lightning Network allows users to conduct nearly unlimited transactions between each other outside of the Bitcoin blockchain, or off-chain.\n\nThis means that transactions can be conducted without the need for each one to be recorded on the blockchain, which helps to reduce the load on the network and allows it to handle more transactions.\n", - "title": "Why is scalability important for the Bitcoin network" - } - } - } - }, - { - "paymentChannels": { - "title": "How does Lighning work?", - "questions": { - "paymentChannels": { - "answers": [ - "By pushing bitcoin from one side of the channel to the other each time a payment is made", - "By broadcasting every transaction immediately to the Bitcoin blockchain as soon as it happens", - "By paying a commission to a 3rd party payment provider" - ], - "feedback": [ - "That's right! Think of moving bitcoin in a Lightning channel like moving beads on an abacus. Each side keeps track of how much is on their side until it's time to settle on the Bitcoin blockchain. Good job", - "Quite the opposite! Payment channels in Lightning avoid broadcasting every transaction by aggregating them. Try again", - "Uhm no, actually payments in Lightning Network save the users fees for not settling every transaction on the blockchain. Try again!" - ], - "question": "How do payment channels in the Lightning Network allow users to pay each other", - "text": "The Lightning Network consists of thousands of two party payment channels.\n\nYou may think of a Lightning channel like opening a tab at your local bar. Instead of pulling out your wallet and paying each time you order a drink, it makes sense to save time, energy and fees by tallying all your drinks together at the end of the night and making the final settlement in one payment.\n\nLightning works similar. Each time a payment is made from person A to person B, bitcoin are pushed from one side of the channel to the other. Two users can pay one another back and forth as many times as they like, almost instantly and with close to no fees.\n", - "title": "How do payment channels in the Lightning Network allow users to pay each other" - } - } - } - }, - { - "routing": { - "title": "Routing", - "questions": { - "routing": { - "answers": [ - "By using a network of intermediaries to route payments between users", - "By using teleportation to instantly transfer bitcoin from one user to another", - "By using a virtual reality simulation to simulate the transfer of bitcoin between users" - ], - "feedback": [ - "Correct! This is like delivering a package from one person to another by passing it along a series of friendly postmen! Congrats", - "Hah no, this isn't science-fiction from Star Trek, but real world cryptographic engineering! Try again", - "May I interest you for a simulation of a simulation? Jokes aside, this isn't it. Try again!" - ], - "question": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel", - "text": "You may be thinking that setting up a payment channel with hundreds of businesses could be tedious, but no. The beauty of the Lightning Network is that it is a network of channels stitched together.\n\nLet us say Bob convinced his friend Carol to also join the Lightning Network. Alice has a channel with Bob, and Bob has a channel with Carol. Alice and Carol can then pay each other by “routing” through Bob.\n\nSome pretty clever cryptographic tricks guarantee that Bob cannot steal the money while it’s passing through him.\n\nWhen you make a payment on the Lightning Network, your node searches for a path of channels between you and your destination. This is what’s referred to as routing. This is of course all done automatically by the involved Lightning nodes, enabling it to happen in the blink of an eye.\n", - "title": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel" - } +{ + "LightningWhatdoesitsolve": { + "title": "Lightning: What does it solve?", + "questions": { + "bitcoinDrawbacks": { + "answers": [ + "It takes too long to confirm transactions", + "It is difficult to use", + "It is not a trusted intermediary" + ], + "feedback": [ + "Correct! Great job! You may be pleased to hear that solutions have been deployed to improve the settlement time of Bitcoin payments to a few seconds. ", + "Wrong! But you are forgiven, Bitcoin is actually very easy to use. Try again", + "Wrong! But don't worry, Bitcoin actually allows anyone to send value without a trusted intermediary. Try again!" + ], + "question": "What is a drawback of Bitcoin's design", + "text": "Bitcoin, the world's most widely used and valuable digital currency, allows anyone to send value without a trusted intermediary.\n\nThere are, however, some drawbacks to bitcoin's design which prioritizes security and decentralization at the cost of scalability.\n\nTransactions confirmed on the bitcoin blockchain take up to one hour before they are irreversible.\n\nMicropayments, or payments less than a few cents, are inconsistently confirmed, and fees render such transactions unviable on the network today.\n\nCurrently, Bitcoin's blockchain can process around 3 transactions per second. This is generally seen as an impediment for Bitcoin to become a currency that facilitates the everyday retail transactions of millions around the world.\n", + "title": "What is a drawback of Bitcoin's design" + }, + "blocksizeWars": { + "answers": [ + "Whether or not to increase the blocksize", + "Whether or not to censor certain transactions", + "Whether or not to change the consensus algorithm to proof of stake" + ], + "feedback": [ + "Correct. The users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network, showing that Bitcoin is controlled by users, not corporations", + "Not quite. Both sides were publicly in favor of preserving censorship-resistance, however companies in the Bitcoin ecosystem were willing to accept some centralization in exchange for quick wins in scalability. Try again", + "Haha, but no. While there are some dubious voices that demand the abolishment of proof of work in favor of proof of stake, this was never a debate in Bitcoin, and never will be. Try again." + ], + "question": "What was the contention in the Blocksize Wars", + "text": "These drawbacks lead to a debate within the Bitcoin community about the best way to scale the Bitcoin network, often dubbed the Blocksize Wars.\n\nCompanies in the Bitcoin ecosystem argued that increasing the blocksize, which is the maximum size of a block of transactions on the blockchain, would allow more transactions to be processed per second, making the network more efficient and able to handle a larger volume of transactions.\n\nBitcoin users on the other side of the debate argued that increasing the blocksize would centralize the network, as it would require more expensive and powerful computers to process the larger blocks, and could potentially lead to Bitcoin becoming prone to censorship.\n\nThe users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network and demonstrated that Bitcoin is controlled by users, not corporations. This also meant that scaling Bitcoin would require a different enigneering solution than merely increasing the blocksize.\n", + "title": "What was the contention in the Blocksize Wars" + }, + "lightningNetwork": { + "answers": [ + "It allows users to make small, near instant payments at low cost", + "It helps users preserve the decentralization of the Bitcoin network", + "It ensures that every transaction is added to the Bitcoin blockchain" + ], + "feedback": [ + "Correct! The Lightning Network allows users to make small, near instant payments at low cost, and it eliminates the need for every transaction to be added to the Bitcoin blockchain. Congrats! As a fun fact, the Lightning Network has helped increase the adoption of Bitcoin by allowing it to process more transactions per second and handle higher volumes of transactions", + "Incorrect! The Lightning Network is actually a scaling solution built on top of the Bitcoin protocol. Try again", + "Incorrect! The Lightning Network actually eliminates the need for every transaction to be added to the Bitcoin blockchain, as it allows for smaller payments to be made off-chain." + ], + "question": "What does the Lightning Network do", + "text": "While users prevailed and preserved the decentralization of the Bitcoin network, a solution to scale Bitcoin proposed by researchers Tadge Dryja and Joseph Poon, called the Lightning Network, started to gain traction and was launched in 2017.\n\nThe Lightning Network, often referred to as just Lightning or LN, is a scaling solution built on top of the Bitcoin protocol. It facilitates smaller, near instant payments between users at very low cost and eliminates the need for every transaction to be added to the Bitcoin blockchain whilst ensuring that the value being transacted abides by the rules of the Bitcoin network.\n", + "title": "What does the Lightning Network do" + }, + "instantPayments": { + "answers": [ + "A matter of seconds", + "10 minutes", + "1 hour" + ], + "feedback": [ + "Correct! This makes the Lightning Network a great option for situations where you need to make a payment immediately, such as retail transactions or peer-to-peer payments", + "Incorrect! On the Bitcoin network, transactions are grouped into blocks that are added to the blockchain about every 10 minutes. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure. Try again", + "Incorrect! On the Bitcoin network, payments are considered secure after they have been confirmed by six blocks, or about an hour. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure." + ], + "question": "How long does it take for a payment to be considered secure on the Lightning Network", + "text": "In the Bitcoin network, transactions are grouped together in blocks, and new blocks are added to the blockchain about every 10 minutes. When a payment is made using Bitcoin, it is considered secure after it has been confirmed by six blocks, or about an hour.\n\nOn the Lightning Network, payments do not have to wait for block confirmations to be considered secure. Instead, they are instant and completed all at once in a matter of few seconds.\n\nThis makes it possible to use the Lightning Network for retail transactions, peer-to-peer payments, or any other situation where you need to make a payment immediately.\n", + "title": "How long does it take for a payment to be considered secure on the Lightning Network" + }, + "micropayments": { + "answers": [ + "A payment for a small amount of money, often less than a dollar", + "A payment that requires a minimum amount and fixed fee", + "A payment made using the Lightning Network" + ], + "feedback": [ + "Exactly! These types of payments can be difficult to make using traditional financial systems or the Bitcoin network, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical", + "Nope**.** While traditional financial systems may require a minimum amount and fixed fee for payments, the Lightning Network allows for the possibility of making very small payments without these limitations", + "Not quite! While the Lightning Network does allow for the possibility of making micropayments, a micropayment is not defined as a payment made using the Lightning Network. Try again!" + ], + "question": "What is a micropayment", + "text": "Micropayments refer to very small financial transactions, often for amounts less than a dollar. These types of payments can be difficult to make using traditional financial systems, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical.\n\nThe Lightning Network allows for the possibility of making micropayments using Bitcoin. It enables users to send very small amounts of Bitcoin, down to 1 sat, without the risk of losing control of their funds to a third party (called \"custodial risk\"). \n\nIn contrast, the Bitcoin blockchain currently has minimum transaction amounts and fees that make micropayments impractical. The Lightning Network allows for minimal payments denominated in Bitcoin, using actual Bitcoin transactions. This opens up the possibility of creating new markets and making small payments more practical.\n", + "title": "What is a micropayment" + }, + "scalability": { + "answers": [ + "To meet the demand for retail and automated payments", + "To make Bitcoin more attractive to investors", + "To get the required licences for interoperability with financial institutions" + ], + "feedback": [ + "That's right. The Lightning Network helps the Bitcoin network achieve scalability by allowing users to conduct nearly unlimited transactions off-chain on a second layer", + "That's not it! While improving the attractiveness of Bitcoin to investors could be a benefit of improving scalability, it is not the main reason why scalability is important for the Bitcoin network", + "Try again! **** Obtaining required licenses for interoperability with financial institutions may be a goal for some organizations working with Bitcoin, but it is not directly related to the concept of scalability." + ], + "question": "Why is scalability important for the Bitcoin network", + "text": "Scalability refers to the ability of a system, such as a network or platform, to handle a large amount of usage or traffic without experiencing issues or slowdowns.\n\nScalability is important for Bitcoin because the network will need to be able to support a much higher volume of transactions in order to meet the demand of retail and automated payments.\n\nThe Lightning Network allows users to conduct nearly unlimited transactions between each other outside of the Bitcoin blockchain, or off-chain.\n\nThis means that transactions can be conducted without the need for each one to be recorded on the blockchain, which helps to reduce the load on the network and allows it to handle more transactions.\n", + "title": "Why is scalability important for the Bitcoin network" + }, + "paymentChannels": { + "answers": [ + "By pushing bitcoin from one side of the channel to the other each time a payment is made", + "By broadcasting every transaction immediately to the Bitcoin blockchain as soon as it happens", + "By paying a commission to a 3rd party payment provider" + ], + "feedback": [ + "That's right! Think of moving bitcoin in a Lightning channel like moving beads on an abacus. Each side keeps track of how much is on their side until it's time to settle on the Bitcoin blockchain. Good job", + "Quite the opposite! Payment channels in Lightning avoid broadcasting every transaction by aggregating them. Try again", + "Uhm no, actually payments in Lightning Network save the users fees for not settling every transaction on the blockchain. Try again!" + ], + "question": "How do payment channels in the Lightning Network allow users to pay each other", + "text": "The Lightning Network consists of thousands of two party payment channels.\n\nYou may think of a Lightning channel like opening a tab at your local bar. Instead of pulling out your wallet and paying each time you order a drink, it makes sense to save time, energy and fees by tallying all your drinks together at the end of the night and making the final settlement in one payment.\n\nLightning works similar. Each time a payment is made from person A to person B, bitcoin are pushed from one side of the channel to the other. Two users can pay one another back and forth as many times as they like, almost instantly and with close to no fees.\n", + "title": "How do payment channels in the Lightning Network allow users to pay each other" + }, + "routing": { + "answers": [ + "By using a network of intermediaries to route payments between users", + "By using teleportation to instantly transfer bitcoin from one user to another", + "By using a virtual reality simulation to simulate the transfer of bitcoin between users" + ], + "feedback": [ + "Correct! This is like delivering a package from one person to another by passing it along a series of friendly postmen! Congrats", + "Hah no, this isn't science-fiction from Star Trek, but real world cryptographic engineering! Try again", + "May I interest you for a simulation of a simulation? Jokes aside, this isn't it. Try again!" + ], + "question": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel", + "text": "You may be thinking that setting up a payment channel with hundreds of businesses could be tedious, but no. The beauty of the Lightning Network is that it is a network of channels stitched together.\n\nLet us say Bob convinced his friend Carol to also join the Lightning Network. Alice has a channel with Bob, and Bob has a channel with Carol. Alice and Carol can then pay each other by “routing” through Bob.\n\nSome pretty clever cryptographic tricks guarantee that Bob cannot steal the money while it’s passing through him.\n\nWhen you make a payment on the Lightning Network, your node searches for a path of channels between you and your destination. This is what’s referred to as routing. This is of course all done automatically by the involved Lightning nodes, enabling it to happen in the blink of an eye.\n", + "title": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel" } } } -] +} diff --git a/chapter-401-lightning-network/401.01-lesson-bitcoin-drawbacks.json b/chapter-401-lightning-network/401.01-lesson-bitcoin-drawbacks.json index 06abce9..6c6f757 100644 --- a/chapter-401-lightning-network/401.01-lesson-bitcoin-drawbacks.json +++ b/chapter-401-lightning-network/401.01-lesson-bitcoin-drawbacks.json @@ -1,22 +1,18 @@ { "bitcoinDrawbacks": { - "title": "Drawbacks of Bitcoin", - "questions": { - "bitcoinDrawbacks": { - "answers": [ - "It takes too long to confirm transactions", - "It is difficult to use", - "It is not a trusted intermediary" - ], - "feedback": [ - "Correct! Great job! You may be pleased to hear that solutions have been deployed to improve the settlement time of Bitcoin payments to a few seconds. ", - "Wrong! But you are forgiven, Bitcoin is actually very easy to use. Try again", - "Wrong! But don't worry, Bitcoin actually allows anyone to send value without a trusted intermediary. Try again!" - ], - "question": "What is a drawback of Bitcoin's design", - "text": "Bitcoin, the world's most widely used and valuable digital currency, allows anyone to send value without a trusted intermediary.\n\nThere are, however, some drawbacks to bitcoin's design which prioritizes security and decentralization at the cost of scalability.\n\nTransactions confirmed on the bitcoin blockchain take up to one hour before they are irreversible.\n\nMicropayments, or payments less than a few cents, are inconsistently confirmed, and fees render such transactions unviable on the network today.\n\nCurrently, Bitcoin's blockchain can process around 3 transactions per second. This is generally seen as an impediment for Bitcoin to become a currency that facilitates the everyday retail transactions of millions around the world.\n", - "title": "What is a drawback of Bitcoin's design" - } - } + "screen": "bitcoinDrawbacks", + "answers": [ + "It takes too long to confirm transactions", + "It is difficult to use", + "It is not a trusted intermediary" + ], + "feedback": [ + "Correct! Great job! You may be pleased to hear that solutions have been deployed to improve the settlement time of Bitcoin payments to a few seconds. ", + "Wrong! But you are forgiven, Bitcoin is actually very easy to use. Try again", + "Wrong! But don't worry, Bitcoin actually allows anyone to send value without a trusted intermediary. Try again!" + ], + "question": "What is a drawback of Bitcoin's design", + "text": "Bitcoin, the world's most widely used and valuable digital currency, allows anyone to send value without a trusted intermediary.\n\nThere are, however, some drawbacks to bitcoin's design which prioritizes security and decentralization at the cost of scalability.\n\nTransactions confirmed on the bitcoin blockchain take up to one hour before they are irreversible.\n\nMicropayments, or payments less than a few cents, are inconsistently confirmed, and fees render such transactions unviable on the network today.\n\nCurrently, Bitcoin's blockchain can process around 3 transactions per second. This is generally seen as an impediment for Bitcoin to become a currency that facilitates the everyday retail transactions of millions around the world.\n", + "title": "What is a drawback of Bitcoin's design" } } diff --git a/chapter-401-lightning-network/401.02-lesson-block-size-wars.json b/chapter-401-lightning-network/401.02-lesson-block-size-wars.json index c737f58..aeb57b2 100644 --- a/chapter-401-lightning-network/401.02-lesson-block-size-wars.json +++ b/chapter-401-lightning-network/401.02-lesson-block-size-wars.json @@ -1,22 +1,18 @@ { "blocksizeWars": { - "title": "The Blocksize Wars", - "questions": { - "blocksizeWars": { - "answers": [ - "Whether or not to increase the blocksize", - "Whether or not to censor certain transactions", - "Whether or not to change the consensus algorithm to proof of stake" - ], - "feedback": [ - "Correct. The users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network, showing that Bitcoin is controlled by users, not corporations", - "Not quite. Both sides were publicly in favor of preserving censorship-resistance, however companies in the Bitcoin ecosystem were willing to accept some centralization in exchange for quick wins in scalability. Try again", - "Haha, but no. While there are some dubious voices that demand the abolishment of proof of work in favor of proof of stake, this was never a debate in Bitcoin, and never will be. Try again." - ], - "question": "What was the contention in the Blocksize Wars", - "text": "These drawbacks lead to a debate within the Bitcoin community about the best way to scale the Bitcoin network, often dubbed the Blocksize Wars.\n\nCompanies in the Bitcoin ecosystem argued that increasing the blocksize, which is the maximum size of a block of transactions on the blockchain, would allow more transactions to be processed per second, making the network more efficient and able to handle a larger volume of transactions.\n\nBitcoin users on the other side of the debate argued that increasing the blocksize would centralize the network, as it would require more expensive and powerful computers to process the larger blocks, and could potentially lead to Bitcoin becoming prone to censorship.\n\nThe users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network and demonstrated that Bitcoin is controlled by users, not corporations. This also meant that scaling Bitcoin would require a different enigneering solution than merely increasing the blocksize.\n", - "title": "What was the contention in the Blocksize Wars" - } - } + "screen": "blocksizeWars", + "answers": [ + "Whether or not to increase the blocksize", + "Whether or not to censor certain transactions", + "Whether or not to change the consensus algorithm to proof of stake" + ], + "feedback": [ + "Correct. The users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network, showing that Bitcoin is controlled by users, not corporations", + "Not quite. Both sides were publicly in favor of preserving censorship-resistance, however companies in the Bitcoin ecosystem were willing to accept some centralization in exchange for quick wins in scalability. Try again", + "Haha, but no. While there are some dubious voices that demand the abolishment of proof of work in favor of proof of stake, this was never a debate in Bitcoin, and never will be. Try again." + ], + "question": "What was the contention in the Blocksize Wars", + "text": "These drawbacks lead to a debate within the Bitcoin community about the best way to scale the Bitcoin network, often dubbed the Blocksize Wars.\n\nCompanies in the Bitcoin ecosystem argued that increasing the blocksize, which is the maximum size of a block of transactions on the blockchain, would allow more transactions to be processed per second, making the network more efficient and able to handle a larger volume of transactions.\n\nBitcoin users on the other side of the debate argued that increasing the blocksize would centralize the network, as it would require more expensive and powerful computers to process the larger blocks, and could potentially lead to Bitcoin becoming prone to censorship.\n\nThe users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network and demonstrated that Bitcoin is controlled by users, not corporations. This also meant that scaling Bitcoin would require a different enigneering solution than merely increasing the blocksize.\n", + "title": "What was the contention in the Blocksize Wars" } } diff --git a/chapter-401-lightning-network/401.03-lesson-lightning-network.json b/chapter-401-lightning-network/401.03-lesson-lightning-network.json index 5558256..92678bd 100644 --- a/chapter-401-lightning-network/401.03-lesson-lightning-network.json +++ b/chapter-401-lightning-network/401.03-lesson-lightning-network.json @@ -1,22 +1,18 @@ { "lightningNetwork": { - "title": "The Lightning Network", - "questions": { - "lightningNetwork": { - "answers": [ - "It allows users to make small, near instant payments at low cost", - "It helps users preserve the decentralization of the Bitcoin network", - "It ensures that every transaction is added to the Bitcoin blockchain" - ], - "feedback": [ - "Correct! The Lightning Network allows users to make small, near instant payments at low cost, and it eliminates the need for every transaction to be added to the Bitcoin blockchain. Congrats! As a fun fact, the Lightning Network has helped increase the adoption of Bitcoin by allowing it to process more transactions per second and handle higher volumes of transactions", - "Incorrect! The Lightning Network is actually a scaling solution built on top of the Bitcoin protocol. Try again", - "Incorrect! The Lightning Network actually eliminates the need for every transaction to be added to the Bitcoin blockchain, as it allows for smaller payments to be made off-chain." - ], - "question": "What does the Lightning Network do", - "text": "While users prevailed and preserved the decentralization of the Bitcoin network, a solution to scale Bitcoin proposed by researchers Tadge Dryja and Joseph Poon, called the Lightning Network, started to gain traction and was launched in 2017.\n\nThe Lightning Network, often referred to as just Lightning or LN, is a scaling solution built on top of the Bitcoin protocol. It facilitates smaller, near instant payments between users at very low cost and eliminates the need for every transaction to be added to the Bitcoin blockchain whilst ensuring that the value being transacted abides by the rules of the Bitcoin network.\n", - "title": "What does the Lightning Network do" - } - } + "screen": "lightningNetwork", + "answers": [ + "It allows users to make small, near instant payments at low cost", + "It helps users preserve the decentralization of the Bitcoin network", + "It ensures that every transaction is added to the Bitcoin blockchain" + ], + "feedback": [ + "Correct! The Lightning Network allows users to make small, near instant payments at low cost, and it eliminates the need for every transaction to be added to the Bitcoin blockchain. Congrats! As a fun fact, the Lightning Network has helped increase the adoption of Bitcoin by allowing it to process more transactions per second and handle higher volumes of transactions", + "Incorrect! The Lightning Network is actually a scaling solution built on top of the Bitcoin protocol. Try again", + "Incorrect! The Lightning Network actually eliminates the need for every transaction to be added to the Bitcoin blockchain, as it allows for smaller payments to be made off-chain." + ], + "question": "What does the Lightning Network do", + "text": "While users prevailed and preserved the decentralization of the Bitcoin network, a solution to scale Bitcoin proposed by researchers Tadge Dryja and Joseph Poon, called the Lightning Network, started to gain traction and was launched in 2017.\n\nThe Lightning Network, often referred to as just Lightning or LN, is a scaling solution built on top of the Bitcoin protocol. It facilitates smaller, near instant payments between users at very low cost and eliminates the need for every transaction to be added to the Bitcoin blockchain whilst ensuring that the value being transacted abides by the rules of the Bitcoin network.\n", + "title": "What does the Lightning Network do" } } diff --git a/chapter-401-lightning-network/401.04-lesson-instant-payments.json b/chapter-401-lightning-network/401.04-lesson-instant-payments.json index 10e6808..3ade235 100644 --- a/chapter-401-lightning-network/401.04-lesson-instant-payments.json +++ b/chapter-401-lightning-network/401.04-lesson-instant-payments.json @@ -1,22 +1,18 @@ { "instantPayments": { - "title": "Instant Payments", - "questions": { - "instantPayments": { - "answers": [ - "A matter of seconds", - "10 minutes", - "1 hour" - ], - "feedback": [ - "Correct! This makes the Lightning Network a great option for situations where you need to make a payment immediately, such as retail transactions or peer-to-peer payments", - "Incorrect! On the Bitcoin network, transactions are grouped into blocks that are added to the blockchain about every 10 minutes. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure. Try again", - "Incorrect! On the Bitcoin network, payments are considered secure after they have been confirmed by six blocks, or about an hour. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure." - ], - "question": "How long does it take for a payment to be considered secure on the Lightning Network", - "text": "In the Bitcoin network, transactions are grouped together in blocks, and new blocks are added to the blockchain about every 10 minutes. When a payment is made using Bitcoin, it is considered secure after it has been confirmed by six blocks, or about an hour.\n\nOn the Lightning Network, payments do not have to wait for block confirmations to be considered secure. Instead, they are instant and completed all at once in a matter of few seconds.\n\nThis makes it possible to use the Lightning Network for retail transactions, peer-to-peer payments, or any other situation where you need to make a payment immediately.\n", - "title": "How long does it take for a payment to be considered secure on the Lightning Network" - } - } + "screen": "instantPayments", + "answers": [ + "A matter of seconds", + "10 minutes", + "1 hour" + ], + "feedback": [ + "Correct! This makes the Lightning Network a great option for situations where you need to make a payment immediately, such as retail transactions or peer-to-peer payments", + "Incorrect! On the Bitcoin network, transactions are grouped into blocks that are added to the blockchain about every 10 minutes. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure. Try again", + "Incorrect! On the Bitcoin network, payments are considered secure after they have been confirmed by six blocks, or about an hour. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure." + ], + "question": "How long does it take for a payment to be considered secure on the Lightning Network", + "text": "In the Bitcoin network, transactions are grouped together in blocks, and new blocks are added to the blockchain about every 10 minutes. When a payment is made using Bitcoin, it is considered secure after it has been confirmed by six blocks, or about an hour.\n\nOn the Lightning Network, payments do not have to wait for block confirmations to be considered secure. Instead, they are instant and completed all at once in a matter of few seconds.\n\nThis makes it possible to use the Lightning Network for retail transactions, peer-to-peer payments, or any other situation where you need to make a payment immediately.\n", + "title": "How long does it take for a payment to be considered secure on the Lightning Network" } } diff --git a/chapter-401-lightning-network/401.05-lesson-micro-payments.json b/chapter-401-lightning-network/401.05-lesson-micro-payments.json index bdfdd69..0109f3e 100644 --- a/chapter-401-lightning-network/401.05-lesson-micro-payments.json +++ b/chapter-401-lightning-network/401.05-lesson-micro-payments.json @@ -1,22 +1,18 @@ { "micropayments": { - "title": "Micropayments", - "questions": { - "micropayments": { - "answers": [ - "A payment for a small amount of money, often less than a dollar", - "A payment that requires a minimum amount and fixed fee", - "A payment made using the Lightning Network" - ], - "feedback": [ - "Exactly! These types of payments can be difficult to make using traditional financial systems or the Bitcoin network, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical", - "Nope**.** While traditional financial systems may require a minimum amount and fixed fee for payments, the Lightning Network allows for the possibility of making very small payments without these limitations", - "Not quite! While the Lightning Network does allow for the possibility of making micropayments, a micropayment is not defined as a payment made using the Lightning Network. Try again!" - ], - "question": "What is a micropayment", - "text": "Micropayments refer to very small financial transactions, often for amounts less than a dollar. These types of payments can be difficult to make using traditional financial systems, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical.\n\nThe Lightning Network allows for the possibility of making micropayments using Bitcoin. It enables users to send very small amounts of Bitcoin, down to 1 sat, without the risk of losing control of their funds to a third party (called \"custodial risk\"). \n\nIn contrast, the Bitcoin blockchain currently has minimum transaction amounts and fees that make micropayments impractical. The Lightning Network allows for minimal payments denominated in Bitcoin, using actual Bitcoin transactions. This opens up the possibility of creating new markets and making small payments more practical.\n", - "title": "What is a micropayment" - } - } + "screen": "micropayments", + "answers": [ + "A payment for a small amount of money, often less than a dollar", + "A payment that requires a minimum amount and fixed fee", + "A payment made using the Lightning Network" + ], + "feedback": [ + "Exactly! These types of payments can be difficult to make using traditional financial systems or the Bitcoin network, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical", + "Nope**.** While traditional financial systems may require a minimum amount and fixed fee for payments, the Lightning Network allows for the possibility of making very small payments without these limitations", + "Not quite! While the Lightning Network does allow for the possibility of making micropayments, a micropayment is not defined as a payment made using the Lightning Network. Try again!" + ], + "question": "What is a micropayment", + "text": "Micropayments refer to very small financial transactions, often for amounts less than a dollar. These types of payments can be difficult to make using traditional financial systems, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical.\n\nThe Lightning Network allows for the possibility of making micropayments using Bitcoin. It enables users to send very small amounts of Bitcoin, down to 1 sat, without the risk of losing control of their funds to a third party (called \"custodial risk\"). \n\nIn contrast, the Bitcoin blockchain currently has minimum transaction amounts and fees that make micropayments impractical. The Lightning Network allows for minimal payments denominated in Bitcoin, using actual Bitcoin transactions. This opens up the possibility of creating new markets and making small payments more practical.\n", + "title": "What is a micropayment" } } diff --git a/chapter-401-lightning-network/401.06-lesson-scalability.json b/chapter-401-lightning-network/401.06-lesson-scalability.json index 7620006..35d78a7 100644 --- a/chapter-401-lightning-network/401.06-lesson-scalability.json +++ b/chapter-401-lightning-network/401.06-lesson-scalability.json @@ -1,22 +1,18 @@ { "scalability": { - "title": "Scalability", - "questions": { - "scalability": { - "answers": [ - "To meet the demand for retail and automated payments", - "To make Bitcoin more attractive to investors", - "To get the required licences for interoperability with financial institutions" - ], - "feedback": [ - "That's right. The Lightning Network helps the Bitcoin network achieve scalability by allowing users to conduct nearly unlimited transactions off-chain on a second layer", - "That's not it! While improving the attractiveness of Bitcoin to investors could be a benefit of improving scalability, it is not the main reason why scalability is important for the Bitcoin network", - "Try again! **** Obtaining required licenses for interoperability with financial institutions may be a goal for some organizations working with Bitcoin, but it is not directly related to the concept of scalability." - ], - "question": "Why is scalability important for the Bitcoin network", - "text": "Scalability refers to the ability of a system, such as a network or platform, to handle a large amount of usage or traffic without experiencing issues or slowdowns.\n\nScalability is important for Bitcoin because the network will need to be able to support a much higher volume of transactions in order to meet the demand of retail and automated payments.\n\nThe Lightning Network allows users to conduct nearly unlimited transactions between each other outside of the Bitcoin blockchain, or off-chain.\n\nThis means that transactions can be conducted without the need for each one to be recorded on the blockchain, which helps to reduce the load on the network and allows it to handle more transactions.\n", - "title": "Why is scalability important for the Bitcoin network" - } - } + "screen": "scalability", + "answers": [ + "To meet the demand for retail and automated payments", + "To make Bitcoin more attractive to investors", + "To get the required licences for interoperability with financial institutions" + ], + "feedback": [ + "That's right. The Lightning Network helps the Bitcoin network achieve scalability by allowing users to conduct nearly unlimited transactions off-chain on a second layer", + "That's not it! While improving the attractiveness of Bitcoin to investors could be a benefit of improving scalability, it is not the main reason why scalability is important for the Bitcoin network", + "Try again! **** Obtaining required licenses for interoperability with financial institutions may be a goal for some organizations working with Bitcoin, but it is not directly related to the concept of scalability." + ], + "question": "Why is scalability important for the Bitcoin network", + "text": "Scalability refers to the ability of a system, such as a network or platform, to handle a large amount of usage or traffic without experiencing issues or slowdowns.\n\nScalability is important for Bitcoin because the network will need to be able to support a much higher volume of transactions in order to meet the demand of retail and automated payments.\n\nThe Lightning Network allows users to conduct nearly unlimited transactions between each other outside of the Bitcoin blockchain, or off-chain.\n\nThis means that transactions can be conducted without the need for each one to be recorded on the blockchain, which helps to reduce the load on the network and allows it to handle more transactions.\n", + "title": "Why is scalability important for the Bitcoin network" } } diff --git a/chapter-401-lightning-network/401.07-lesson-payment-channels.json b/chapter-401-lightning-network/401.07-lesson-payment-channels.json index 1708b67..77a1298 100644 --- a/chapter-401-lightning-network/401.07-lesson-payment-channels.json +++ b/chapter-401-lightning-network/401.07-lesson-payment-channels.json @@ -1,22 +1,18 @@ { "paymentChannels": { - "title": "How does Lighning work?", - "questions": { - "paymentChannels": { - "answers": [ - "By pushing bitcoin from one side of the channel to the other each time a payment is made", - "By broadcasting every transaction immediately to the Bitcoin blockchain as soon as it happens", - "By paying a commission to a 3rd party payment provider" - ], - "feedback": [ - "That's right! Think of moving bitcoin in a Lightning channel like moving beads on an abacus. Each side keeps track of how much is on their side until it's time to settle on the Bitcoin blockchain. Good job", - "Quite the opposite! Payment channels in Lightning avoid broadcasting every transaction by aggregating them. Try again", - "Uhm no, actually payments in Lightning Network save the users fees for not settling every transaction on the blockchain. Try again!" - ], - "question": "How do payment channels in the Lightning Network allow users to pay each other", - "text": "The Lightning Network consists of thousands of two party payment channels.\n\nYou may think of a Lightning channel like opening a tab at your local bar. Instead of pulling out your wallet and paying each time you order a drink, it makes sense to save time, energy and fees by tallying all your drinks together at the end of the night and making the final settlement in one payment.\n\nLightning works similar. Each time a payment is made from person A to person B, bitcoin are pushed from one side of the channel to the other. Two users can pay one another back and forth as many times as they like, almost instantly and with close to no fees.\n", - "title": "How do payment channels in the Lightning Network allow users to pay each other" - } - } + "screen": "paymentChannels", + "answers": [ + "By pushing bitcoin from one side of the channel to the other each time a payment is made", + "By broadcasting every transaction immediately to the Bitcoin blockchain as soon as it happens", + "By paying a commission to a 3rd party payment provider" + ], + "feedback": [ + "That's right! Think of moving bitcoin in a Lightning channel like moving beads on an abacus. Each side keeps track of how much is on their side until it's time to settle on the Bitcoin blockchain. Good job", + "Quite the opposite! Payment channels in Lightning avoid broadcasting every transaction by aggregating them. Try again", + "Uhm no, actually payments in Lightning Network save the users fees for not settling every transaction on the blockchain. Try again!" + ], + "question": "How do payment channels in the Lightning Network allow users to pay each other", + "text": "The Lightning Network consists of thousands of two party payment channels.\n\nYou may think of a Lightning channel like opening a tab at your local bar. Instead of pulling out your wallet and paying each time you order a drink, it makes sense to save time, energy and fees by tallying all your drinks together at the end of the night and making the final settlement in one payment.\n\nLightning works similar. Each time a payment is made from person A to person B, bitcoin are pushed from one side of the channel to the other. Two users can pay one another back and forth as many times as they like, almost instantly and with close to no fees.\n", + "title": "How do payment channels in the Lightning Network allow users to pay each other" } } diff --git a/chapter-401-lightning-network/401.08-lesson-routing.json b/chapter-401-lightning-network/401.08-lesson-routing.json index 0265cc5..be72ac8 100644 --- a/chapter-401-lightning-network/401.08-lesson-routing.json +++ b/chapter-401-lightning-network/401.08-lesson-routing.json @@ -1,22 +1,18 @@ { "routing": { - "title": "Routing", - "questions": { - "routing": { - "answers": [ - "By using a network of intermediaries to route payments between users", - "By using teleportation to instantly transfer bitcoin from one user to another", - "By using a virtual reality simulation to simulate the transfer of bitcoin between users" - ], - "feedback": [ - "Correct! This is like delivering a package from one person to another by passing it along a series of friendly postmen! Congrats", - "Hah no, this isn't science-fiction from Star Trek, but real world cryptographic engineering! Try again", - "May I interest you for a simulation of a simulation? Jokes aside, this isn't it. Try again!" - ], - "question": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel", - "text": "You may be thinking that setting up a payment channel with hundreds of businesses could be tedious, but no. The beauty of the Lightning Network is that it is a network of channels stitched together.\n\nLet us say Bob convinced his friend Carol to also join the Lightning Network. Alice has a channel with Bob, and Bob has a channel with Carol. Alice and Carol can then pay each other by “routing” through Bob.\n\nSome pretty clever cryptographic tricks guarantee that Bob cannot steal the money while it’s passing through him.\n\nWhen you make a payment on the Lightning Network, your node searches for a path of channels between you and your destination. This is what’s referred to as routing. This is of course all done automatically by the involved Lightning nodes, enabling it to happen in the blink of an eye.\n", - "title": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel" - } - } + "screen": "routing", + "answers": [ + "By using a network of intermediaries to route payments between users", + "By using teleportation to instantly transfer bitcoin from one user to another", + "By using a virtual reality simulation to simulate the transfer of bitcoin between users" + ], + "feedback": [ + "Correct! This is like delivering a package from one person to another by passing it along a series of friendly postmen! Congrats", + "Hah no, this isn't science-fiction from Star Trek, but real world cryptographic engineering! Try again", + "May I interest you for a simulation of a simulation? Jokes aside, this isn't it. Try again!" + ], + "question": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel", + "text": "You may be thinking that setting up a payment channel with hundreds of businesses could be tedious, but no. The beauty of the Lightning Network is that it is a network of channels stitched together.\n\nLet us say Bob convinced his friend Carol to also join the Lightning Network. Alice has a channel with Bob, and Bob has a channel with Carol. Alice and Carol can then pay each other by “routing” through Bob.\n\nSome pretty clever cryptographic tricks guarantee that Bob cannot steal the money while it’s passing through him.\n\nWhen you make a payment on the Lightning Network, your node searches for a path of channels between you and your destination. This is what’s referred to as routing. This is of course all done automatically by the involved Lightning nodes, enabling it to happen in the blink of an eye.\n", + "title": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel" } } diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json b/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json index 98548e4..08d9879 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json @@ -1,134 +1,97 @@ -[ - { - "itsaBubble": { - "title": "Is bitcoin a bubble?", - "questions": { - "itsaBubble": { - "answers": [ - "It has consistently gone up", - "It has consistently gone down", - "It has gone up and down randomly" - ], - "feedback": [ - "Well done! You seem to have a good grasp on the overall trend of bitcoin's exchange rate. Despite some fluctuations, it has consistently been on the rise. Keep up the good work", - "I'm sorry, that's not quite right. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been consistently downward. Try again", - "Sorry, that's incorrect. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been completely random. Keep trying!" - ], - "question": "How has the exchange rate of bitcoin trended over time", - "text": "Over the years, bitcoin has often been called a bubble by various people. While its price has had several significant declines that may have warranted this label, the overall trend for bitcoin has been consistently upward.\n\nCritics who have proclaimed the death of bitcoin after each market cycle have been proven wrong, as the nascent digital money has continued to thrive despite their predictions. As these critics run out of analogies to use, it has become clear that their accusations are unfounded.\n", - "title": "How has the exchange rate of bitcoin trended over time" - } - } - } - }, - { - "itstooVolatile": { - "title": "It's too volatile!", - "questions": { - "itstooVolatile": { - "answers": [ - "Buyers and sellers reaching agreements in real-time", - "Government intervention", - "The phase of the moon" - ], - "feedback": [ - "You're correct! The primary factor influencing the volatility of bitcoin's price is actually the agreements reached in real-time between buyers and sellers", - "I'm sorry, that's not quite right. While government intervention can certainly affect the price of bitcoin, it is not the primary factor influencing its volatility", - "Sorry, that's incorrect. While the phase of the moon may have some strange effects on certain things, it does not play a significant role in the volatility of bitcoin's exchange rate. Keep trying!" - ], - "question": "What is the primary factor influencing the volatility of bitcoin's exchange rate", - "text": "It is subjective to expect bitcoin to maintain a specific price range, as it is traded around the clock, every day of the year, across the world. There are no requirements for registration, bank holidays, circuit breakers, or bailouts in the bitcoin market, which operates as a truly free market.\n\nAny and all volatility in bitcoin's price is the result of buyers and sellers reaching agreements in real-time without interference from governments. As bitcoin continues its journey towards becoming a primary global store of value in the Information Age, it is unrealistic to assume that its progress would be linear.\n\nAs adoption of bitcoin increases, it becomes less risky and potential upside decreases, leading to a decrease in volatility.\n", - "title": "What is the primary factor influencing the volatility of bitcoin's exchange rate" - } - } - } - }, - { - "itsnotBacked": { - "title": "Should money be backed by something?", - "questions": { - "itsnotBacked": { - "answers": [ - "The credibility of its monetary properties", - "Rarity", - "The color purple" - ], - "feedback": [ - "Spot on! According to Parker Lewis, the only thing that backs any money is the credibility of its monetary properties", - "That's not quite right. While rarity can certainly contribute to the value of money, it is not the only thing that backs it. Try again", - "That's incorrect. While the color purple may be a beautiful and regal choice for a currency, it does not actually play a role in backing money." - ], - "question": "What is the only thing that backs any money, according to Parker Lewis", - "text": "The idea of backed money is contradictory, as the backing itself would then be considered money. Part of the value of money comes from its rarity. Bitcoin does not need to be backed by something else that is rare because it is inherently scarce.\n\nVerifiable and auditable through independent means, bitcoin is free of counterparty risk. There is no third party that must be trusted to keep and secure commodities or assets. If anything, it is possible that the future will be backed by bitcoin.\n\nAs Parker Lewis stated, \"Ultimately, bitcoin is backed by something, and it's the only thing that backs any money: the credibility of its monetary properties.\"\n", - "title": "What is the only thing that backs any money, according to Parker Lewis" - } - } - } - }, - { - "willbecomeObsolete": { - "title": "Will bitcoin become obsolete one day?", - "questions": { - "willbecomeObsolete": { - "answers": [ - "No, it is not possible for bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", - "Yes, it is possible that bitcoin could become obsolete if a more secure or widely used digital monetary network is developed.", - "that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that" - ], - "feedback": [ - "bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", - "Well, you're not wrong about that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that", - "Uh oh, looks like you're playing it safe but not quite hitting the mark. While it's true that no one can predict the future, it's pretty clear that bitcoin has a solid grip on the digital monetary network game. Try again." - ], - "question": "Is it possible that bitcoin becomes obsolete one day", - "text": "Bitcoin represents a unique discovery of absolute scarcity, similar to the discovery of fire, electricity, or the field of mathematics.\n\nIt is not logical or possible to compete with bitcoin in terms of scarcity, as there is no level of scarcity higher than absolute scarcity. Criticisms of bitcoin's perceived limitations or drawbacks assume that there are no trade-offs in terms of security and incentive design, or that bitcoin's current form does not already provide significant benefits to millions of users.\n\nAs a rapidly growing, unrestricted network with a 99.98% uptime over more than a decade, having processed trillions of dollars in value and secured by billions of dollars in hardware, it is unlikely that bitcoin will be displaced as the dominant digital monetary network at this point.\n\nAs Michael Saylor stated, \"There's never been an example of a $100B monster digital network that was vanquished once it got to that dominant position.\"\n", - "title": "Is it possible that bitcoin becomes obsolete one day" - } - } - } - }, - { - "toomuchEnergy": { - "title": "Is bitcoin's energy consumption excessive?", - "questions": { - "toomuchEnergy": { - "answers": [ - "It helps to even out the distribution of energy consumption around the world.", - "It increases the distribution of energy consumption around the world.", - "It decreases the distribution of energy consumption around the world." - ], - "feedback": [ - "You got it right. Did you know that bitcoin's fixed energy price helps to incentivize the use of renewable energy sources in areas where they may not have been economically viable before", - "Well, I see you're a fan of chaos and global energy inequality, but this answer is wrong", - "Looks like you're trying to save the world one energy imbalance at a time. This answer is clearly incorrect." - ], - "question": "How does bitcoin impact global energy consumption", - "text": "Bitcoin is a decentralized digital currency that is accessible to users around the world and is resistant to censorship due to its Proof of Work mechanism.\n\nWith an estimated four billion people currently living under authoritarianism, bitcoin provides a way for individuals to send, receive, save, and transport wealth. It is important to consider the amount of energy that a monetary network like this should consume and to carefully evaluate who is best equipped to make decisions about this.\n\nOne way to think about the impact of bitcoin on global energy consumption is to imagine a topographic map of the world, with local electricity costs represented by the peaks and troughs. Adding bitcoin to the mix is like pouring a glass of water over the map - it settles in the troughs, smoothing them out. This is because bitcoin is a global buyer of energy at a fixed price, which helps to even out the distribution of energy consumption around the world.\n", - "title": "How does bitcoin impact global energy consumption" - } - } - } - }, - { - "strandedEnergy": { - "title": "Wait, are you telling me that bitcoin can be used to tap into stranded energy?", - "questions": { - "strandedEnergy": { - "answers": [ - "By using it to power onsite equipment that generates hashes to produce bitcoin", - "By selling it on the bitcoin market", - "By creating a new form of renewable energy" - ], - "feedback": [ - "Congratulations! You've correctly identified the use of excess energy in bitcoin mining. Did you know that this process can be done in any location, even in areas where there is no local demand for the energy being generated", - "I see you're a fan of making money through unconventional means. Too bad that's not what this lesson is about. Try again", - "It looks like you're trying to save the world one renewable energy source at a time. While that's admirable, unfortunately that's not the right answer." - ], - "question": "How can excess energy be used through bitcoin mining", - "text": "Exactly**.** Bitcoin mining provides a portable solution for utilizing energy assets in regions where there is no local demand or means of transportation. By using onsite equipment to generate hashes, it is possible to produce bitcoin, which can then be held for future value appreciation or sold on the highly liquid and globally accessible bitcoin market.\n", - "title": "How can excess energy be used through bitcoin mining" - } +{ + "BitcoinCriticismsFallaciesI": { + "title": "Bitcoin Criticisms & Fallacies I", + "questions": { + "itsaBubble": { + "answers": [ + "It has consistently gone up", + "It has consistently gone down", + "It has gone up and down randomly" + ], + "feedback": [ + "Well done! You seem to have a good grasp on the overall trend of bitcoin's exchange rate. Despite some fluctuations, it has consistently been on the rise. Keep up the good work", + "I'm sorry, that's not quite right. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been consistently downward. Try again", + "Sorry, that's incorrect. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been completely random. Keep trying!" + ], + "question": "How has the exchange rate of bitcoin trended over time", + "text": "Over the years, bitcoin has often been called a bubble by various people. While its price has had several significant declines that may have warranted this label, the overall trend for bitcoin has been consistently upward.\n\nCritics who have proclaimed the death of bitcoin after each market cycle have been proven wrong, as the nascent digital money has continued to thrive despite their predictions. As these critics run out of analogies to use, it has become clear that their accusations are unfounded.\n", + "title": "How has the exchange rate of bitcoin trended over time" + }, + "itstooVolatile": { + "answers": [ + "Buyers and sellers reaching agreements in real-time", + "Government intervention", + "The phase of the moon" + ], + "feedback": [ + "You're correct! The primary factor influencing the volatility of bitcoin's price is actually the agreements reached in real-time between buyers and sellers", + "I'm sorry, that's not quite right. While government intervention can certainly affect the price of bitcoin, it is not the primary factor influencing its volatility", + "Sorry, that's incorrect. While the phase of the moon may have some strange effects on certain things, it does not play a significant role in the volatility of bitcoin's exchange rate. Keep trying!" + ], + "question": "What is the primary factor influencing the volatility of bitcoin's exchange rate", + "text": "It is subjective to expect bitcoin to maintain a specific price range, as it is traded around the clock, every day of the year, across the world. There are no requirements for registration, bank holidays, circuit breakers, or bailouts in the bitcoin market, which operates as a truly free market.\n\nAny and all volatility in bitcoin's price is the result of buyers and sellers reaching agreements in real-time without interference from governments. As bitcoin continues its journey towards becoming a primary global store of value in the Information Age, it is unrealistic to assume that its progress would be linear.\n\nAs adoption of bitcoin increases, it becomes less risky and potential upside decreases, leading to a decrease in volatility.\n", + "title": "What is the primary factor influencing the volatility of bitcoin's exchange rate" + }, + "itsnotBacked": { + "answers": [ + "The credibility of its monetary properties", + "Rarity", + "The color purple" + ], + "feedback": [ + "Spot on! According to Parker Lewis, the only thing that backs any money is the credibility of its monetary properties", + "That's not quite right. While rarity can certainly contribute to the value of money, it is not the only thing that backs it. Try again", + "That's incorrect. While the color purple may be a beautiful and regal choice for a currency, it does not actually play a role in backing money." + ], + "question": "What is the only thing that backs any money, according to Parker Lewis", + "text": "The idea of backed money is contradictory, as the backing itself would then be considered money. Part of the value of money comes from its rarity. Bitcoin does not need to be backed by something else that is rare because it is inherently scarce.\n\nVerifiable and auditable through independent means, bitcoin is free of counterparty risk. There is no third party that must be trusted to keep and secure commodities or assets. If anything, it is possible that the future will be backed by bitcoin.\n\nAs Parker Lewis stated, \"Ultimately, bitcoin is backed by something, and it's the only thing that backs any money: the credibility of its monetary properties.\"\n", + "title": "What is the only thing that backs any money, according to Parker Lewis" + }, + "willbecomeObsolete": { + "answers": [ + "No, it is not possible for bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Yes, it is possible that bitcoin could become obsolete if a more secure or widely used digital monetary network is developed.", + "that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that" + ], + "feedback": [ + "bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Well, you're not wrong about that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that", + "Uh oh, looks like you're playing it safe but not quite hitting the mark. While it's true that no one can predict the future, it's pretty clear that bitcoin has a solid grip on the digital monetary network game. Try again." + ], + "question": "Is it possible that bitcoin becomes obsolete one day", + "text": "Bitcoin represents a unique discovery of absolute scarcity, similar to the discovery of fire, electricity, or the field of mathematics.\n\nIt is not logical or possible to compete with bitcoin in terms of scarcity, as there is no level of scarcity higher than absolute scarcity. Criticisms of bitcoin's perceived limitations or drawbacks assume that there are no trade-offs in terms of security and incentive design, or that bitcoin's current form does not already provide significant benefits to millions of users.\n\nAs a rapidly growing, unrestricted network with a 99.98% uptime over more than a decade, having processed trillions of dollars in value and secured by billions of dollars in hardware, it is unlikely that bitcoin will be displaced as the dominant digital monetary network at this point.\n\nAs Michael Saylor stated, \"There's never been an example of a $100B monster digital network that was vanquished once it got to that dominant position.\"\n", + "title": "Is it possible that bitcoin becomes obsolete one day" + }, + "toomuchEnergy": { + "answers": [ + "It helps to even out the distribution of energy consumption around the world.", + "It increases the distribution of energy consumption around the world.", + "It decreases the distribution of energy consumption around the world." + ], + "feedback": [ + "You got it right. Did you know that bitcoin's fixed energy price helps to incentivize the use of renewable energy sources in areas where they may not have been economically viable before", + "Well, I see you're a fan of chaos and global energy inequality, but this answer is wrong", + "Looks like you're trying to save the world one energy imbalance at a time. This answer is clearly incorrect." + ], + "question": "How does bitcoin impact global energy consumption", + "text": "Bitcoin is a decentralized digital currency that is accessible to users around the world and is resistant to censorship due to its Proof of Work mechanism.\n\nWith an estimated four billion people currently living under authoritarianism, bitcoin provides a way for individuals to send, receive, save, and transport wealth. It is important to consider the amount of energy that a monetary network like this should consume and to carefully evaluate who is best equipped to make decisions about this.\n\nOne way to think about the impact of bitcoin on global energy consumption is to imagine a topographic map of the world, with local electricity costs represented by the peaks and troughs. Adding bitcoin to the mix is like pouring a glass of water over the map - it settles in the troughs, smoothing them out. This is because bitcoin is a global buyer of energy at a fixed price, which helps to even out the distribution of energy consumption around the world.\n", + "title": "How does bitcoin impact global energy consumption" + }, + "strandedEnergy": { + "answers": [ + "By using it to power onsite equipment that generates hashes to produce bitcoin", + "By selling it on the bitcoin market", + "By creating a new form of renewable energy" + ], + "feedback": [ + "Congratulations! You've correctly identified the use of excess energy in bitcoin mining. Did you know that this process can be done in any location, even in areas where there is no local demand for the energy being generated", + "I see you're a fan of making money through unconventional means. Too bad that's not what this lesson is about. Try again", + "It looks like you're trying to save the world one renewable energy source at a time. While that's admirable, unfortunately that's not the right answer." + ], + "question": "How can excess energy be used through bitcoin mining", + "text": "Exactly**.** Bitcoin mining provides a portable solution for utilizing energy assets in regions where there is no local demand or means of transportation. By using onsite equipment to generate hashes, it is possible to produce bitcoin, which can then be held for future value appreciation or sold on the highly liquid and globally accessible bitcoin market.\n", + "title": "How can excess energy be used through bitcoin mining" } } } -] +} diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.01-lesson-its-a-bubble.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.01-lesson-its-a-bubble.json index cc73662..bb68053 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501.01-lesson-its-a-bubble.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.01-lesson-its-a-bubble.json @@ -1,22 +1,18 @@ { "itsaBubble": { - "title": "Is bitcoin a bubble?", - "questions": { - "itsaBubble": { - "answers": [ - "It has consistently gone up", - "It has consistently gone down", - "It has gone up and down randomly" - ], - "feedback": [ - "Well done! You seem to have a good grasp on the overall trend of bitcoin's exchange rate. Despite some fluctuations, it has consistently been on the rise. Keep up the good work", - "I'm sorry, that's not quite right. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been consistently downward. Try again", - "Sorry, that's incorrect. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been completely random. Keep trying!" - ], - "question": "How has the exchange rate of bitcoin trended over time", - "text": "Over the years, bitcoin has often been called a bubble by various people. While its price has had several significant declines that may have warranted this label, the overall trend for bitcoin has been consistently upward.\n\nCritics who have proclaimed the death of bitcoin after each market cycle have been proven wrong, as the nascent digital money has continued to thrive despite their predictions. As these critics run out of analogies to use, it has become clear that their accusations are unfounded.\n", - "title": "How has the exchange rate of bitcoin trended over time" - } - } + "screen": "itsaBubble", + "answers": [ + "It has consistently gone up", + "It has consistently gone down", + "It has gone up and down randomly" + ], + "feedback": [ + "Well done! You seem to have a good grasp on the overall trend of bitcoin's exchange rate. Despite some fluctuations, it has consistently been on the rise. Keep up the good work", + "I'm sorry, that's not quite right. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been consistently downward. Try again", + "Sorry, that's incorrect. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been completely random. Keep trying!" + ], + "question": "How has the exchange rate of bitcoin trended over time", + "text": "Over the years, bitcoin has often been called a bubble by various people. While its price has had several significant declines that may have warranted this label, the overall trend for bitcoin has been consistently upward.\n\nCritics who have proclaimed the death of bitcoin after each market cycle have been proven wrong, as the nascent digital money has continued to thrive despite their predictions. As these critics run out of analogies to use, it has become clear that their accusations are unfounded.\n", + "title": "How has the exchange rate of bitcoin trended over time" } } diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.02-lesson-its-too-volatile.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.02-lesson-its-too-volatile.json index 1315fb9..93f97c0 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501.02-lesson-its-too-volatile.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.02-lesson-its-too-volatile.json @@ -1,22 +1,18 @@ { "itstooVolatile": { - "title": "It's too volatile!", - "questions": { - "itstooVolatile": { - "answers": [ - "Buyers and sellers reaching agreements in real-time", - "Government intervention", - "The phase of the moon" - ], - "feedback": [ - "You're correct! The primary factor influencing the volatility of bitcoin's price is actually the agreements reached in real-time between buyers and sellers", - "I'm sorry, that's not quite right. While government intervention can certainly affect the price of bitcoin, it is not the primary factor influencing its volatility", - "Sorry, that's incorrect. While the phase of the moon may have some strange effects on certain things, it does not play a significant role in the volatility of bitcoin's exchange rate. Keep trying!" - ], - "question": "What is the primary factor influencing the volatility of bitcoin's exchange rate", - "text": "It is subjective to expect bitcoin to maintain a specific price range, as it is traded around the clock, every day of the year, across the world. There are no requirements for registration, bank holidays, circuit breakers, or bailouts in the bitcoin market, which operates as a truly free market.\n\nAny and all volatility in bitcoin's price is the result of buyers and sellers reaching agreements in real-time without interference from governments. As bitcoin continues its journey towards becoming a primary global store of value in the Information Age, it is unrealistic to assume that its progress would be linear.\n\nAs adoption of bitcoin increases, it becomes less risky and potential upside decreases, leading to a decrease in volatility.\n", - "title": "What is the primary factor influencing the volatility of bitcoin's exchange rate" - } - } + "screen": "itstooVolatile", + "answers": [ + "Buyers and sellers reaching agreements in real-time", + "Government intervention", + "The phase of the moon" + ], + "feedback": [ + "You're correct! The primary factor influencing the volatility of bitcoin's price is actually the agreements reached in real-time between buyers and sellers", + "I'm sorry, that's not quite right. While government intervention can certainly affect the price of bitcoin, it is not the primary factor influencing its volatility", + "Sorry, that's incorrect. While the phase of the moon may have some strange effects on certain things, it does not play a significant role in the volatility of bitcoin's exchange rate. Keep trying!" + ], + "question": "What is the primary factor influencing the volatility of bitcoin's exchange rate", + "text": "It is subjective to expect bitcoin to maintain a specific price range, as it is traded around the clock, every day of the year, across the world. There are no requirements for registration, bank holidays, circuit breakers, or bailouts in the bitcoin market, which operates as a truly free market.\n\nAny and all volatility in bitcoin's price is the result of buyers and sellers reaching agreements in real-time without interference from governments. As bitcoin continues its journey towards becoming a primary global store of value in the Information Age, it is unrealistic to assume that its progress would be linear.\n\nAs adoption of bitcoin increases, it becomes less risky and potential upside decreases, leading to a decrease in volatility.\n", + "title": "What is the primary factor influencing the volatility of bitcoin's exchange rate" } } diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.03-lesson-its-not-backed.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.03-lesson-its-not-backed.json index e46c46f..5131cf4 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501.03-lesson-its-not-backed.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.03-lesson-its-not-backed.json @@ -1,22 +1,18 @@ { "itsnotBacked": { - "title": "Should money be backed by something?", - "questions": { - "itsnotBacked": { - "answers": [ - "The credibility of its monetary properties", - "Rarity", - "The color purple" - ], - "feedback": [ - "Spot on! According to Parker Lewis, the only thing that backs any money is the credibility of its monetary properties", - "That's not quite right. While rarity can certainly contribute to the value of money, it is not the only thing that backs it. Try again", - "That's incorrect. While the color purple may be a beautiful and regal choice for a currency, it does not actually play a role in backing money." - ], - "question": "What is the only thing that backs any money, according to Parker Lewis", - "text": "The idea of backed money is contradictory, as the backing itself would then be considered money. Part of the value of money comes from its rarity. Bitcoin does not need to be backed by something else that is rare because it is inherently scarce.\n\nVerifiable and auditable through independent means, bitcoin is free of counterparty risk. There is no third party that must be trusted to keep and secure commodities or assets. If anything, it is possible that the future will be backed by bitcoin.\n\nAs Parker Lewis stated, \"Ultimately, bitcoin is backed by something, and it's the only thing that backs any money: the credibility of its monetary properties.\"\n", - "title": "What is the only thing that backs any money, according to Parker Lewis" - } - } + "screen": "itsnotBacked", + "answers": [ + "The credibility of its monetary properties", + "Rarity", + "The color purple" + ], + "feedback": [ + "Spot on! According to Parker Lewis, the only thing that backs any money is the credibility of its monetary properties", + "That's not quite right. While rarity can certainly contribute to the value of money, it is not the only thing that backs it. Try again", + "That's incorrect. While the color purple may be a beautiful and regal choice for a currency, it does not actually play a role in backing money." + ], + "question": "What is the only thing that backs any money, according to Parker Lewis", + "text": "The idea of backed money is contradictory, as the backing itself would then be considered money. Part of the value of money comes from its rarity. Bitcoin does not need to be backed by something else that is rare because it is inherently scarce.\n\nVerifiable and auditable through independent means, bitcoin is free of counterparty risk. There is no third party that must be trusted to keep and secure commodities or assets. If anything, it is possible that the future will be backed by bitcoin.\n\nAs Parker Lewis stated, \"Ultimately, bitcoin is backed by something, and it's the only thing that backs any money: the credibility of its monetary properties.\"\n", + "title": "What is the only thing that backs any money, according to Parker Lewis" } } diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.04-lesson-will-become-obsolete.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.04-lesson-will-become-obsolete.json index 0a04601..a9c1530 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501.04-lesson-will-become-obsolete.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.04-lesson-will-become-obsolete.json @@ -1,22 +1,18 @@ { "willbecomeObsolete": { - "title": "Will bitcoin become obsolete one day?", - "questions": { - "willbecomeObsolete": { - "answers": [ - "No, it is not possible for bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", - "Yes, it is possible that bitcoin could become obsolete if a more secure or widely used digital monetary network is developed.", - "that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that" - ], - "feedback": [ - "bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", - "Well, you're not wrong about that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that", - "Uh oh, looks like you're playing it safe but not quite hitting the mark. While it's true that no one can predict the future, it's pretty clear that bitcoin has a solid grip on the digital monetary network game. Try again." - ], - "question": "Is it possible that bitcoin becomes obsolete one day", - "text": "Bitcoin represents a unique discovery of absolute scarcity, similar to the discovery of fire, electricity, or the field of mathematics.\n\nIt is not logical or possible to compete with bitcoin in terms of scarcity, as there is no level of scarcity higher than absolute scarcity. Criticisms of bitcoin's perceived limitations or drawbacks assume that there are no trade-offs in terms of security and incentive design, or that bitcoin's current form does not already provide significant benefits to millions of users.\n\nAs a rapidly growing, unrestricted network with a 99.98% uptime over more than a decade, having processed trillions of dollars in value and secured by billions of dollars in hardware, it is unlikely that bitcoin will be displaced as the dominant digital monetary network at this point.\n\nAs Michael Saylor stated, \"There's never been an example of a $100B monster digital network that was vanquished once it got to that dominant position.\"\n", - "title": "Is it possible that bitcoin becomes obsolete one day" - } - } + "screen": "willbecomeObsolete", + "answers": [ + "No, it is not possible for bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Yes, it is possible that bitcoin could become obsolete if a more secure or widely used digital monetary network is developed.", + "that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that" + ], + "feedback": [ + "bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Well, you're not wrong about that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that", + "Uh oh, looks like you're playing it safe but not quite hitting the mark. While it's true that no one can predict the future, it's pretty clear that bitcoin has a solid grip on the digital monetary network game. Try again." + ], + "question": "Is it possible that bitcoin becomes obsolete one day", + "text": "Bitcoin represents a unique discovery of absolute scarcity, similar to the discovery of fire, electricity, or the field of mathematics.\n\nIt is not logical or possible to compete with bitcoin in terms of scarcity, as there is no level of scarcity higher than absolute scarcity. Criticisms of bitcoin's perceived limitations or drawbacks assume that there are no trade-offs in terms of security and incentive design, or that bitcoin's current form does not already provide significant benefits to millions of users.\n\nAs a rapidly growing, unrestricted network with a 99.98% uptime over more than a decade, having processed trillions of dollars in value and secured by billions of dollars in hardware, it is unlikely that bitcoin will be displaced as the dominant digital monetary network at this point.\n\nAs Michael Saylor stated, \"There's never been an example of a $100B monster digital network that was vanquished once it got to that dominant position.\"\n", + "title": "Is it possible that bitcoin becomes obsolete one day" } } diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.05-lesson-too-much-energy.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.05-lesson-too-much-energy.json index 448fc98..6cf7acb 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501.05-lesson-too-much-energy.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.05-lesson-too-much-energy.json @@ -1,22 +1,18 @@ { "toomuchEnergy": { - "title": "Is bitcoin's energy consumption excessive?", - "questions": { - "toomuchEnergy": { - "answers": [ - "It helps to even out the distribution of energy consumption around the world.", - "It increases the distribution of energy consumption around the world.", - "It decreases the distribution of energy consumption around the world." - ], - "feedback": [ - "You got it right. Did you know that bitcoin's fixed energy price helps to incentivize the use of renewable energy sources in areas where they may not have been economically viable before", - "Well, I see you're a fan of chaos and global energy inequality, but this answer is wrong", - "Looks like you're trying to save the world one energy imbalance at a time. This answer is clearly incorrect." - ], - "question": "How does bitcoin impact global energy consumption", - "text": "Bitcoin is a decentralized digital currency that is accessible to users around the world and is resistant to censorship due to its Proof of Work mechanism.\n\nWith an estimated four billion people currently living under authoritarianism, bitcoin provides a way for individuals to send, receive, save, and transport wealth. It is important to consider the amount of energy that a monetary network like this should consume and to carefully evaluate who is best equipped to make decisions about this.\n\nOne way to think about the impact of bitcoin on global energy consumption is to imagine a topographic map of the world, with local electricity costs represented by the peaks and troughs. Adding bitcoin to the mix is like pouring a glass of water over the map - it settles in the troughs, smoothing them out. This is because bitcoin is a global buyer of energy at a fixed price, which helps to even out the distribution of energy consumption around the world.\n", - "title": "How does bitcoin impact global energy consumption" - } - } + "screen": "toomuchEnergy", + "answers": [ + "It helps to even out the distribution of energy consumption around the world.", + "It increases the distribution of energy consumption around the world.", + "It decreases the distribution of energy consumption around the world." + ], + "feedback": [ + "You got it right. Did you know that bitcoin's fixed energy price helps to incentivize the use of renewable energy sources in areas where they may not have been economically viable before", + "Well, I see you're a fan of chaos and global energy inequality, but this answer is wrong", + "Looks like you're trying to save the world one energy imbalance at a time. This answer is clearly incorrect." + ], + "question": "How does bitcoin impact global energy consumption", + "text": "Bitcoin is a decentralized digital currency that is accessible to users around the world and is resistant to censorship due to its Proof of Work mechanism.\n\nWith an estimated four billion people currently living under authoritarianism, bitcoin provides a way for individuals to send, receive, save, and transport wealth. It is important to consider the amount of energy that a monetary network like this should consume and to carefully evaluate who is best equipped to make decisions about this.\n\nOne way to think about the impact of bitcoin on global energy consumption is to imagine a topographic map of the world, with local electricity costs represented by the peaks and troughs. Adding bitcoin to the mix is like pouring a glass of water over the map - it settles in the troughs, smoothing them out. This is because bitcoin is a global buyer of energy at a fixed price, which helps to even out the distribution of energy consumption around the world.\n", + "title": "How does bitcoin impact global energy consumption" } } diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501.06-lesson-stranded-energy.json b/chapter-501-bitcoin-criticisms-fallacies-i/501.06-lesson-stranded-energy.json index 541b5c3..e22bfc2 100644 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501.06-lesson-stranded-energy.json +++ b/chapter-501-bitcoin-criticisms-fallacies-i/501.06-lesson-stranded-energy.json @@ -1,22 +1,18 @@ { "strandedEnergy": { - "title": "Wait, are you telling me that bitcoin can be used to tap into stranded energy?", - "questions": { - "strandedEnergy": { - "answers": [ - "By using it to power onsite equipment that generates hashes to produce bitcoin", - "By selling it on the bitcoin market", - "By creating a new form of renewable energy" - ], - "feedback": [ - "Congratulations! You've correctly identified the use of excess energy in bitcoin mining. Did you know that this process can be done in any location, even in areas where there is no local demand for the energy being generated", - "I see you're a fan of making money through unconventional means. Too bad that's not what this lesson is about. Try again", - "It looks like you're trying to save the world one renewable energy source at a time. While that's admirable, unfortunately that's not the right answer." - ], - "question": "How can excess energy be used through bitcoin mining", - "text": "Exactly**.** Bitcoin mining provides a portable solution for utilizing energy assets in regions where there is no local demand or means of transportation. By using onsite equipment to generate hashes, it is possible to produce bitcoin, which can then be held for future value appreciation or sold on the highly liquid and globally accessible bitcoin market.\n", - "title": "How can excess energy be used through bitcoin mining" - } - } + "screen": "strandedEnergy", + "answers": [ + "By using it to power onsite equipment that generates hashes to produce bitcoin", + "By selling it on the bitcoin market", + "By creating a new form of renewable energy" + ], + "feedback": [ + "Congratulations! You've correctly identified the use of excess energy in bitcoin mining. Did you know that this process can be done in any location, even in areas where there is no local demand for the energy being generated", + "I see you're a fan of making money through unconventional means. Too bad that's not what this lesson is about. Try again", + "It looks like you're trying to save the world one renewable energy source at a time. While that's admirable, unfortunately that's not the right answer." + ], + "question": "How can excess energy be used through bitcoin mining", + "text": "Exactly**.** Bitcoin mining provides a portable solution for utilizing energy assets in regions where there is no local demand or means of transportation. By using onsite equipment to generate hashes, it is possible to produce bitcoin, which can then be held for future value appreciation or sold on the highly liquid and globally accessible bitcoin market.\n", + "title": "How can excess energy be used through bitcoin mining" } } diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json index a738db8..5cfcc35 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json @@ -1,134 +1,97 @@ -[ - { - "internetDependent": { - "title": "Bitcoin is too dependent on the Internet", - "questions": { - "internetDependent": { - "answers": [ - "By sending a transaction via SMS", - "By posting a message on a social media platform", - "By sending an email" - ], - "feedback": [ - "You've identified a way to send bitcoin transactions even when the internet is down. Good thinking", - "Well, it looks like you're trying to stay connected in the digital age even during an internet outage, but that's incorrect", - "I see you're trying to stay connected through traditional means, but unfortunately sending an email might not be the most reliable way to send bitcoin transactions during an internet outage. Try again!" - ], - "question": "How can bitcoin transactions be sent in the event of an internet disruption", - "text": "There is a risk, of course, that internet access may be lost due to infrastructure failures, natural disasters, or intentional outages. However, it is possible to transact bitcoin using offline methods and other communication networks.\n\nFor instance, a signed bitcoin transaction can be transmitted to a single node and broadcast to the network for inclusion in a block by miners. There are various ways to do this, such as sending a transaction via SMS, using a physical wallet with a one-time use tamper-evident private key, or receiving blocks via satellite. These options allow for bitcoin to be used even in the event of an internet disruption.\n", - "title": "How can bitcoin transactions be sent in the event of an internet disruption" - } - } - } - }, - { - "forcrimeOnly": { - "title": "Bitcoin is for Criminals", - "questions": { - "forcrimeOnly": { - "answers": [ - "No", - "Yes", - "It depends on the individual circumstances" - ], - "feedback": [ - "Well done! You've correctly identified that it is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.", - "I see you're a fan of sensational headlines and jumping to conclusions. Unfortunately, that's not based in reality", - "It looks like you're trying to take a balanced approach, but is not accurate to make this claim regardless of individual circumstances. Try again." - ], - "question": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity", - "text": "Bitcoin is a neutral tool for exchanging value, and it has no inherent beliefs, opinions, or values. Its meaning is determined by how it is used. It is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.\n\nCrime does not stem from access to tools, but rather from individual circumstances. If bitcoin is useful, it can be used by anyone, including criminals. If it is not useful, it cannot be used by anyone, including criminals.\n\nAs Parker Lewis stated, \"There is nothing inherent about the tools used to facilitate crimes that makes them criminal in themselves. Despite criminal use, no one is calling for the ban of roads, the internet, mail, etc.\"\n", - "title": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity" - } - } - } - }, - { - "ponziScheme": { - "title": "Bitcoin is a Ponzi Scheme", - "questions": { - "ponziScheme": { - "answers": [ - "It is a form of money", - "It is a ponzi scheme", - "It is an open-source investment scheme" - ], - "feedback": [ - "Congratulations! You've earned some sats for correctly identifying that bitcoin is a form of money. Did you know that bitcoin was the first decentralized digital currency to be created, and it operates without a central bank or single administrator", - "Ah hah! You fell for the old ponzi scheme trick! Just kidding, but seriously, that's not what bitcoin is", - "Nope, sorry! Bitcoin isn't an open-source investment scheme. But hey, at least you're learning about it, right?" - ], - "question": "Which of the following statements is true about bitcoin", - "text": "Calling bitcoin a ponzi scheme shows a lack of understanding of both bitcoin and the definition of a ponzi scheme. A ponzi scheme involves promises of above-market returns to investors, but as a permissionless network, bitcoin does not have a central authority that can make such promises.\n\nAdditionally, bitcoin is not an investment scheme, it is a form of money. Unlike opaque investment opportunities that may be promoted to unsuspecting individuals, bitcoin's code is open-source and its supply can be independently verified at all times.\n", - "title": "Which of the following statements is true about bitcoin" - } - } - } - }, - { - "bitcoinisTooSlow": { - "title": "Bitcoin is too slow", - "questions": { - "bitcoinisTooSlow": { - "answers": [ - "Credit card payments go through multiple parties before reaching the merchant, while bitcoin payments go directly to the recipient without intermediaries", - "Credit card payments are final once they are confirmed, while bitcoin payments can be reversed", - "but at least you're learning about bitcoin" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin payment mastery. You seem to understand that bitcoin operates without a central bank or single administrator", - "Uh oh, looks like you might have gotten the wrong answer, but at least you're learning about bitcoin", - "Nope, sorry! Credit card payments are being censored all the time, but good try. Keep learning about bitcoin!" - ], - "question": "What is the main difference between paying with a credit card and paying with bitcoin on-chain", - "text": "Paying with bitcoin is not the same as using a credit card to make a purchase. When you use a credit card, your payment goes through multiple parties before reaching the merchant's bank account after days or even weeks of processing.\n\nIn contrast, when you pay with bitcoin on the main blockchain, you are sending actual money directly to the recipient without any intermediaries. This means there is no risk of censorship and the transaction is considered final once it has been confirmed by six blocks on the blockchain.\n\nThe proper comparison would be between bitcoin base layer and the Fed as currency issuer and as a clearing mechanism.\n\nSince the advent of the Lightning Network, the \"Bitcoin is too slow\" criticism has largely fallen silent.\n", - "title": "What is the main difference between paying with a credit card and paying with bitcoin on-chain" - } - } - } - }, - { - "supplyLimit": { - "title": "Bitcoin's Supply Limit Could Be Corrupted", - "questions": { - "supplyLimit": { - "answers": [ - "Through a decentralized consensus process in which every transaction is independently validated by nodes on the network", - "Through a centralized process in which a single authority controls the issuance of new coins", - "By fixing the maximum supply at an arbitrary number, such as 100 million" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin supply mastery. Did you know that the decentralized nature of the bitcoin network allows for greater transparency, as every transaction is independently validated by nodes on the network", - "Nope, sorry! Bitcoin's supply isn't controlled by a central authority. Try again", - "Uh oh, looks like you might have gotten the wrong answer. The maximum supply of bitcoin is fixed at 21 million, not 100 million. But at least you're learning about bitcoin!" - ], - "question": "How is the supply of bitcoin protected from being corrupted", - "text": "Bitcoin's decentralized nature allows for its supply to be independently validated by each node on the network, ensuring that it cannot be corrupted. This is achieved through a consensus process in which every transaction that has been confirmed on the bitcoin network is independently validated.\n\nWhile anyone can fork the code and make changes to the rules, it is unlikely that this version of the code would be adopted by the wider network. The decentralized consensus process and the incorruptible supply of bitcoin are crucial to its appeal as a form of money.\n\nThe maximum supply of bitcoin is fixed at 21 million, and any attempt to increase this limit would require consensus from a significant portion of the bitcoin network, which is highly unlikely to happen.\n", - "title": "How is the supply of bitcoin protected from being corrupted" - } - } - } - }, - { - "governmentBan": { - "title": "Governments Will Ban Bitcoin", - "questions": { - "governmentBan": { - "answers": [ - "No, because the decentralized nature of the bitcoin network makes it difficult to enforce a ban", - "Yes, by preventing the generation of random numbers", - "Yes, by shutting down the internet" - ], - "feedback": [ - "Correct. The decentralized nature of the bitcoin network makes it difficult to enforce a ban", - "Nope, silly! While it is technically possible for governments to ban bitcoin, it would be nearly impossible to enforce such a ban. Try again", - "Uh oh, looks like you might have gotten the wrong answer. Shutting down the internet wouldn't necessarily stop people from using bitcoin." - ], - "question": "Can governments effectively ban bitcoin", - "text": "It is technically possible for governments to ban bitcoin, but enforcing such a ban would be difficult due to the decentralized nature of the bitcoin network.\n\nBitcoin relies on private keys, which are simply random numbers, to control access to transactions recorded on the blockchain. These private keys can be generated and stored anywhere, making them largely undectectable.\n\nAdditionally, the infrastructure required to access the bitcoin network is relatively simple and widely available, making it easy for people to trustlessly verify transactions.\n\nAs Saifedean Ammous said, \"Banning bitcoin is not much different from trying to ban math. It will just prove its utility & drive more people to it.\"\n", - "title": "Can governments effectively ban bitcoin" - } +{ + "BitcoinCriticismsFallaciesII": { + "title": "Bitcoin Criticisms & Fallacies II", + "questions": { + "internetDependent": { + "answers": [ + "By sending a transaction via SMS", + "By posting a message on a social media platform", + "By sending an email" + ], + "feedback": [ + "You've identified a way to send bitcoin transactions even when the internet is down. Good thinking", + "Well, it looks like you're trying to stay connected in the digital age even during an internet outage, but that's incorrect", + "I see you're trying to stay connected through traditional means, but unfortunately sending an email might not be the most reliable way to send bitcoin transactions during an internet outage. Try again!" + ], + "question": "How can bitcoin transactions be sent in the event of an internet disruption", + "text": "There is a risk, of course, that internet access may be lost due to infrastructure failures, natural disasters, or intentional outages. However, it is possible to transact bitcoin using offline methods and other communication networks.\n\nFor instance, a signed bitcoin transaction can be transmitted to a single node and broadcast to the network for inclusion in a block by miners. There are various ways to do this, such as sending a transaction via SMS, using a physical wallet with a one-time use tamper-evident private key, or receiving blocks via satellite. These options allow for bitcoin to be used even in the event of an internet disruption.\n", + "title": "How can bitcoin transactions be sent in the event of an internet disruption" + }, + "forcrimeOnly": { + "answers": [ + "No", + "Yes", + "It depends on the individual circumstances" + ], + "feedback": [ + "Well done! You've correctly identified that it is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.", + "I see you're a fan of sensational headlines and jumping to conclusions. Unfortunately, that's not based in reality", + "It looks like you're trying to take a balanced approach, but is not accurate to make this claim regardless of individual circumstances. Try again." + ], + "question": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity", + "text": "Bitcoin is a neutral tool for exchanging value, and it has no inherent beliefs, opinions, or values. Its meaning is determined by how it is used. It is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.\n\nCrime does not stem from access to tools, but rather from individual circumstances. If bitcoin is useful, it can be used by anyone, including criminals. If it is not useful, it cannot be used by anyone, including criminals.\n\nAs Parker Lewis stated, \"There is nothing inherent about the tools used to facilitate crimes that makes them criminal in themselves. Despite criminal use, no one is calling for the ban of roads, the internet, mail, etc.\"\n", + "title": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity" + }, + "ponziScheme": { + "answers": [ + "It is a form of money", + "It is a ponzi scheme", + "It is an open-source investment scheme" + ], + "feedback": [ + "Congratulations! You've earned some sats for correctly identifying that bitcoin is a form of money. Did you know that bitcoin was the first decentralized digital currency to be created, and it operates without a central bank or single administrator", + "Ah hah! You fell for the old ponzi scheme trick! Just kidding, but seriously, that's not what bitcoin is", + "Nope, sorry! Bitcoin isn't an open-source investment scheme. But hey, at least you're learning about it, right?" + ], + "question": "Which of the following statements is true about bitcoin", + "text": "Calling bitcoin a ponzi scheme shows a lack of understanding of both bitcoin and the definition of a ponzi scheme. A ponzi scheme involves promises of above-market returns to investors, but as a permissionless network, bitcoin does not have a central authority that can make such promises.\n\nAdditionally, bitcoin is not an investment scheme, it is a form of money. Unlike opaque investment opportunities that may be promoted to unsuspecting individuals, bitcoin's code is open-source and its supply can be independently verified at all times.\n", + "title": "Which of the following statements is true about bitcoin" + }, + "bitcoinisTooSlow": { + "answers": [ + "Credit card payments go through multiple parties before reaching the merchant, while bitcoin payments go directly to the recipient without intermediaries", + "Credit card payments are final once they are confirmed, while bitcoin payments can be reversed", + "but at least you're learning about bitcoin" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin payment mastery. You seem to understand that bitcoin operates without a central bank or single administrator", + "Uh oh, looks like you might have gotten the wrong answer, but at least you're learning about bitcoin", + "Nope, sorry! Credit card payments are being censored all the time, but good try. Keep learning about bitcoin!" + ], + "question": "What is the main difference between paying with a credit card and paying with bitcoin on-chain", + "text": "Paying with bitcoin is not the same as using a credit card to make a purchase. When you use a credit card, your payment goes through multiple parties before reaching the merchant's bank account after days or even weeks of processing.\n\nIn contrast, when you pay with bitcoin on the main blockchain, you are sending actual money directly to the recipient without any intermediaries. This means there is no risk of censorship and the transaction is considered final once it has been confirmed by six blocks on the blockchain.\n\nThe proper comparison would be between bitcoin base layer and the Fed as currency issuer and as a clearing mechanism.\n\nSince the advent of the Lightning Network, the \"Bitcoin is too slow\" criticism has largely fallen silent.\n", + "title": "What is the main difference between paying with a credit card and paying with bitcoin on-chain" + }, + "supplyLimit": { + "answers": [ + "Through a decentralized consensus process in which every transaction is independently validated by nodes on the network", + "Through a centralized process in which a single authority controls the issuance of new coins", + "By fixing the maximum supply at an arbitrary number, such as 100 million" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin supply mastery. Did you know that the decentralized nature of the bitcoin network allows for greater transparency, as every transaction is independently validated by nodes on the network", + "Nope, sorry! Bitcoin's supply isn't controlled by a central authority. Try again", + "Uh oh, looks like you might have gotten the wrong answer. The maximum supply of bitcoin is fixed at 21 million, not 100 million. But at least you're learning about bitcoin!" + ], + "question": "How is the supply of bitcoin protected from being corrupted", + "text": "Bitcoin's decentralized nature allows for its supply to be independently validated by each node on the network, ensuring that it cannot be corrupted. This is achieved through a consensus process in which every transaction that has been confirmed on the bitcoin network is independently validated.\n\nWhile anyone can fork the code and make changes to the rules, it is unlikely that this version of the code would be adopted by the wider network. The decentralized consensus process and the incorruptible supply of bitcoin are crucial to its appeal as a form of money.\n\nThe maximum supply of bitcoin is fixed at 21 million, and any attempt to increase this limit would require consensus from a significant portion of the bitcoin network, which is highly unlikely to happen.\n", + "title": "How is the supply of bitcoin protected from being corrupted" + }, + "governmentBan": { + "answers": [ + "No, because the decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Yes, by preventing the generation of random numbers", + "Yes, by shutting down the internet" + ], + "feedback": [ + "Correct. The decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Nope, silly! While it is technically possible for governments to ban bitcoin, it would be nearly impossible to enforce such a ban. Try again", + "Uh oh, looks like you might have gotten the wrong answer. Shutting down the internet wouldn't necessarily stop people from using bitcoin." + ], + "question": "Can governments effectively ban bitcoin", + "text": "It is technically possible for governments to ban bitcoin, but enforcing such a ban would be difficult due to the decentralized nature of the bitcoin network.\n\nBitcoin relies on private keys, which are simply random numbers, to control access to transactions recorded on the blockchain. These private keys can be generated and stored anywhere, making them largely undectectable.\n\nAdditionally, the infrastructure required to access the bitcoin network is relatively simple and widely available, making it easy for people to trustlessly verify transactions.\n\nAs Saifedean Ammous said, \"Banning bitcoin is not much different from trying to ban math. It will just prove its utility & drive more people to it.\"\n", + "title": "Can governments effectively ban bitcoin" } } } -] +} diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.01-lesson-internet-dependent.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.01-lesson-internet-dependent.json index 892ef18..bd3a3ee 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502.01-lesson-internet-dependent.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.01-lesson-internet-dependent.json @@ -1,22 +1,18 @@ { "internetDependent": { - "title": "Bitcoin is too dependent on the Internet", - "questions": { - "internetDependent": { - "answers": [ - "By sending a transaction via SMS", - "By posting a message on a social media platform", - "By sending an email" - ], - "feedback": [ - "You've identified a way to send bitcoin transactions even when the internet is down. Good thinking", - "Well, it looks like you're trying to stay connected in the digital age even during an internet outage, but that's incorrect", - "I see you're trying to stay connected through traditional means, but unfortunately sending an email might not be the most reliable way to send bitcoin transactions during an internet outage. Try again!" - ], - "question": "How can bitcoin transactions be sent in the event of an internet disruption", - "text": "There is a risk, of course, that internet access may be lost due to infrastructure failures, natural disasters, or intentional outages. However, it is possible to transact bitcoin using offline methods and other communication networks.\n\nFor instance, a signed bitcoin transaction can be transmitted to a single node and broadcast to the network for inclusion in a block by miners. There are various ways to do this, such as sending a transaction via SMS, using a physical wallet with a one-time use tamper-evident private key, or receiving blocks via satellite. These options allow for bitcoin to be used even in the event of an internet disruption.\n", - "title": "How can bitcoin transactions be sent in the event of an internet disruption" - } - } + "screen": "internetDependent", + "answers": [ + "By sending a transaction via SMS", + "By posting a message on a social media platform", + "By sending an email" + ], + "feedback": [ + "You've identified a way to send bitcoin transactions even when the internet is down. Good thinking", + "Well, it looks like you're trying to stay connected in the digital age even during an internet outage, but that's incorrect", + "I see you're trying to stay connected through traditional means, but unfortunately sending an email might not be the most reliable way to send bitcoin transactions during an internet outage. Try again!" + ], + "question": "How can bitcoin transactions be sent in the event of an internet disruption", + "text": "There is a risk, of course, that internet access may be lost due to infrastructure failures, natural disasters, or intentional outages. However, it is possible to transact bitcoin using offline methods and other communication networks.\n\nFor instance, a signed bitcoin transaction can be transmitted to a single node and broadcast to the network for inclusion in a block by miners. There are various ways to do this, such as sending a transaction via SMS, using a physical wallet with a one-time use tamper-evident private key, or receiving blocks via satellite. These options allow for bitcoin to be used even in the event of an internet disruption.\n", + "title": "How can bitcoin transactions be sent in the event of an internet disruption" } } diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.02-lesson-for-crime-only.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.02-lesson-for-crime-only.json index 9b5e582..d1ca94b 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502.02-lesson-for-crime-only.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.02-lesson-for-crime-only.json @@ -1,22 +1,18 @@ { "forcrimeOnly": { - "title": "Bitcoin is for Criminals", - "questions": { - "forcrimeOnly": { - "answers": [ - "No", - "Yes", - "It depends on the individual circumstances" - ], - "feedback": [ - "Well done! You've correctly identified that it is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.", - "I see you're a fan of sensational headlines and jumping to conclusions. Unfortunately, that's not based in reality", - "It looks like you're trying to take a balanced approach, but is not accurate to make this claim regardless of individual circumstances. Try again." - ], - "question": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity", - "text": "Bitcoin is a neutral tool for exchanging value, and it has no inherent beliefs, opinions, or values. Its meaning is determined by how it is used. It is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.\n\nCrime does not stem from access to tools, but rather from individual circumstances. If bitcoin is useful, it can be used by anyone, including criminals. If it is not useful, it cannot be used by anyone, including criminals.\n\nAs Parker Lewis stated, \"There is nothing inherent about the tools used to facilitate crimes that makes them criminal in themselves. Despite criminal use, no one is calling for the ban of roads, the internet, mail, etc.\"\n", - "title": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity" - } - } + "screen": "forcrimeOnly", + "answers": [ + "No", + "Yes", + "It depends on the individual circumstances" + ], + "feedback": [ + "Well done! You've correctly identified that it is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.", + "I see you're a fan of sensational headlines and jumping to conclusions. Unfortunately, that's not based in reality", + "It looks like you're trying to take a balanced approach, but is not accurate to make this claim regardless of individual circumstances. Try again." + ], + "question": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity", + "text": "Bitcoin is a neutral tool for exchanging value, and it has no inherent beliefs, opinions, or values. Its meaning is determined by how it is used. It is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.\n\nCrime does not stem from access to tools, but rather from individual circumstances. If bitcoin is useful, it can be used by anyone, including criminals. If it is not useful, it cannot be used by anyone, including criminals.\n\nAs Parker Lewis stated, \"There is nothing inherent about the tools used to facilitate crimes that makes them criminal in themselves. Despite criminal use, no one is calling for the ban of roads, the internet, mail, etc.\"\n", + "title": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity" } } diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.03-lesson-ponzi-scheme.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.03-lesson-ponzi-scheme.json index 7823b2a..d2cc3e4 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502.03-lesson-ponzi-scheme.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.03-lesson-ponzi-scheme.json @@ -1,22 +1,18 @@ { "ponziScheme": { - "title": "Bitcoin is a Ponzi Scheme", - "questions": { - "ponziScheme": { - "answers": [ - "It is a form of money", - "It is a ponzi scheme", - "It is an open-source investment scheme" - ], - "feedback": [ - "Congratulations! You've earned some sats for correctly identifying that bitcoin is a form of money. Did you know that bitcoin was the first decentralized digital currency to be created, and it operates without a central bank or single administrator", - "Ah hah! You fell for the old ponzi scheme trick! Just kidding, but seriously, that's not what bitcoin is", - "Nope, sorry! Bitcoin isn't an open-source investment scheme. But hey, at least you're learning about it, right?" - ], - "question": "Which of the following statements is true about bitcoin", - "text": "Calling bitcoin a ponzi scheme shows a lack of understanding of both bitcoin and the definition of a ponzi scheme. A ponzi scheme involves promises of above-market returns to investors, but as a permissionless network, bitcoin does not have a central authority that can make such promises.\n\nAdditionally, bitcoin is not an investment scheme, it is a form of money. Unlike opaque investment opportunities that may be promoted to unsuspecting individuals, bitcoin's code is open-source and its supply can be independently verified at all times.\n", - "title": "Which of the following statements is true about bitcoin" - } - } + "screen": "ponziScheme", + "answers": [ + "It is a form of money", + "It is a ponzi scheme", + "It is an open-source investment scheme" + ], + "feedback": [ + "Congratulations! You've earned some sats for correctly identifying that bitcoin is a form of money. Did you know that bitcoin was the first decentralized digital currency to be created, and it operates without a central bank or single administrator", + "Ah hah! You fell for the old ponzi scheme trick! Just kidding, but seriously, that's not what bitcoin is", + "Nope, sorry! Bitcoin isn't an open-source investment scheme. But hey, at least you're learning about it, right?" + ], + "question": "Which of the following statements is true about bitcoin", + "text": "Calling bitcoin a ponzi scheme shows a lack of understanding of both bitcoin and the definition of a ponzi scheme. A ponzi scheme involves promises of above-market returns to investors, but as a permissionless network, bitcoin does not have a central authority that can make such promises.\n\nAdditionally, bitcoin is not an investment scheme, it is a form of money. Unlike opaque investment opportunities that may be promoted to unsuspecting individuals, bitcoin's code is open-source and its supply can be independently verified at all times.\n", + "title": "Which of the following statements is true about bitcoin" } } diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.04-lesson-bitcoin-is-too-slow.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.04-lesson-bitcoin-is-too-slow.json index 91fd837..7322fad 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502.04-lesson-bitcoin-is-too-slow.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.04-lesson-bitcoin-is-too-slow.json @@ -1,22 +1,18 @@ { "bitcoinisTooSlow": { - "title": "Bitcoin is too slow", - "questions": { - "bitcoinisTooSlow": { - "answers": [ - "Credit card payments go through multiple parties before reaching the merchant, while bitcoin payments go directly to the recipient without intermediaries", - "Credit card payments are final once they are confirmed, while bitcoin payments can be reversed", - "but at least you're learning about bitcoin" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin payment mastery. You seem to understand that bitcoin operates without a central bank or single administrator", - "Uh oh, looks like you might have gotten the wrong answer, but at least you're learning about bitcoin", - "Nope, sorry! Credit card payments are being censored all the time, but good try. Keep learning about bitcoin!" - ], - "question": "What is the main difference between paying with a credit card and paying with bitcoin on-chain", - "text": "Paying with bitcoin is not the same as using a credit card to make a purchase. When you use a credit card, your payment goes through multiple parties before reaching the merchant's bank account after days or even weeks of processing.\n\nIn contrast, when you pay with bitcoin on the main blockchain, you are sending actual money directly to the recipient without any intermediaries. This means there is no risk of censorship and the transaction is considered final once it has been confirmed by six blocks on the blockchain.\n\nThe proper comparison would be between bitcoin base layer and the Fed as currency issuer and as a clearing mechanism.\n\nSince the advent of the Lightning Network, the \"Bitcoin is too slow\" criticism has largely fallen silent.\n", - "title": "What is the main difference between paying with a credit card and paying with bitcoin on-chain" - } - } + "screen": "bitcoinisTooSlow", + "answers": [ + "Credit card payments go through multiple parties before reaching the merchant, while bitcoin payments go directly to the recipient without intermediaries", + "Credit card payments are final once they are confirmed, while bitcoin payments can be reversed", + "but at least you're learning about bitcoin" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin payment mastery. You seem to understand that bitcoin operates without a central bank or single administrator", + "Uh oh, looks like you might have gotten the wrong answer, but at least you're learning about bitcoin", + "Nope, sorry! Credit card payments are being censored all the time, but good try. Keep learning about bitcoin!" + ], + "question": "What is the main difference between paying with a credit card and paying with bitcoin on-chain", + "text": "Paying with bitcoin is not the same as using a credit card to make a purchase. When you use a credit card, your payment goes through multiple parties before reaching the merchant's bank account after days or even weeks of processing.\n\nIn contrast, when you pay with bitcoin on the main blockchain, you are sending actual money directly to the recipient without any intermediaries. This means there is no risk of censorship and the transaction is considered final once it has been confirmed by six blocks on the blockchain.\n\nThe proper comparison would be between bitcoin base layer and the Fed as currency issuer and as a clearing mechanism.\n\nSince the advent of the Lightning Network, the \"Bitcoin is too slow\" criticism has largely fallen silent.\n", + "title": "What is the main difference between paying with a credit card and paying with bitcoin on-chain" } } diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.05-lesson-supply-limit.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.05-lesson-supply-limit.json index 28886a1..6ebc8f8 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502.05-lesson-supply-limit.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.05-lesson-supply-limit.json @@ -1,22 +1,18 @@ { "supplyLimit": { - "title": "Bitcoin's Supply Limit Could Be Corrupted", - "questions": { - "supplyLimit": { - "answers": [ - "Through a decentralized consensus process in which every transaction is independently validated by nodes on the network", - "Through a centralized process in which a single authority controls the issuance of new coins", - "By fixing the maximum supply at an arbitrary number, such as 100 million" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin supply mastery. Did you know that the decentralized nature of the bitcoin network allows for greater transparency, as every transaction is independently validated by nodes on the network", - "Nope, sorry! Bitcoin's supply isn't controlled by a central authority. Try again", - "Uh oh, looks like you might have gotten the wrong answer. The maximum supply of bitcoin is fixed at 21 million, not 100 million. But at least you're learning about bitcoin!" - ], - "question": "How is the supply of bitcoin protected from being corrupted", - "text": "Bitcoin's decentralized nature allows for its supply to be independently validated by each node on the network, ensuring that it cannot be corrupted. This is achieved through a consensus process in which every transaction that has been confirmed on the bitcoin network is independently validated.\n\nWhile anyone can fork the code and make changes to the rules, it is unlikely that this version of the code would be adopted by the wider network. The decentralized consensus process and the incorruptible supply of bitcoin are crucial to its appeal as a form of money.\n\nThe maximum supply of bitcoin is fixed at 21 million, and any attempt to increase this limit would require consensus from a significant portion of the bitcoin network, which is highly unlikely to happen.\n", - "title": "How is the supply of bitcoin protected from being corrupted" - } - } + "screen": "supplyLimit", + "answers": [ + "Through a decentralized consensus process in which every transaction is independently validated by nodes on the network", + "Through a centralized process in which a single authority controls the issuance of new coins", + "By fixing the maximum supply at an arbitrary number, such as 100 million" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin supply mastery. Did you know that the decentralized nature of the bitcoin network allows for greater transparency, as every transaction is independently validated by nodes on the network", + "Nope, sorry! Bitcoin's supply isn't controlled by a central authority. Try again", + "Uh oh, looks like you might have gotten the wrong answer. The maximum supply of bitcoin is fixed at 21 million, not 100 million. But at least you're learning about bitcoin!" + ], + "question": "How is the supply of bitcoin protected from being corrupted", + "text": "Bitcoin's decentralized nature allows for its supply to be independently validated by each node on the network, ensuring that it cannot be corrupted. This is achieved through a consensus process in which every transaction that has been confirmed on the bitcoin network is independently validated.\n\nWhile anyone can fork the code and make changes to the rules, it is unlikely that this version of the code would be adopted by the wider network. The decentralized consensus process and the incorruptible supply of bitcoin are crucial to its appeal as a form of money.\n\nThe maximum supply of bitcoin is fixed at 21 million, and any attempt to increase this limit would require consensus from a significant portion of the bitcoin network, which is highly unlikely to happen.\n", + "title": "How is the supply of bitcoin protected from being corrupted" } } diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502.06-lesson-government-ban.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502.06-lesson-government-ban.json index 34b5eb5..40b6591 100644 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502.06-lesson-government-ban.json +++ b/chapter-502-bitcoin-criticisms-fallacies-ii/502.06-lesson-government-ban.json @@ -1,22 +1,18 @@ { "governmentBan": { - "title": "Governments Will Ban Bitcoin", - "questions": { - "governmentBan": { - "answers": [ - "No, because the decentralized nature of the bitcoin network makes it difficult to enforce a ban", - "Yes, by preventing the generation of random numbers", - "Yes, by shutting down the internet" - ], - "feedback": [ - "Correct. The decentralized nature of the bitcoin network makes it difficult to enforce a ban", - "Nope, silly! While it is technically possible for governments to ban bitcoin, it would be nearly impossible to enforce such a ban. Try again", - "Uh oh, looks like you might have gotten the wrong answer. Shutting down the internet wouldn't necessarily stop people from using bitcoin." - ], - "question": "Can governments effectively ban bitcoin", - "text": "It is technically possible for governments to ban bitcoin, but enforcing such a ban would be difficult due to the decentralized nature of the bitcoin network.\n\nBitcoin relies on private keys, which are simply random numbers, to control access to transactions recorded on the blockchain. These private keys can be generated and stored anywhere, making them largely undectectable.\n\nAdditionally, the infrastructure required to access the bitcoin network is relatively simple and widely available, making it easy for people to trustlessly verify transactions.\n\nAs Saifedean Ammous said, \"Banning bitcoin is not much different from trying to ban math. It will just prove its utility & drive more people to it.\"\n", - "title": "Can governments effectively ban bitcoin" - } - } + "screen": "governmentBan", + "answers": [ + "No, because the decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Yes, by preventing the generation of random numbers", + "Yes, by shutting down the internet" + ], + "feedback": [ + "Correct. The decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Nope, silly! While it is technically possible for governments to ban bitcoin, it would be nearly impossible to enforce such a ban. Try again", + "Uh oh, looks like you might have gotten the wrong answer. Shutting down the internet wouldn't necessarily stop people from using bitcoin." + ], + "question": "Can governments effectively ban bitcoin", + "text": "It is technically possible for governments to ban bitcoin, but enforcing such a ban would be difficult due to the decentralized nature of the bitcoin network.\n\nBitcoin relies on private keys, which are simply random numbers, to control access to transactions recorded on the blockchain. These private keys can be generated and stored anywhere, making them largely undectectable.\n\nAdditionally, the infrastructure required to access the bitcoin network is relatively simple and widely available, making it easy for people to trustlessly verify transactions.\n\nAs Saifedean Ammous said, \"Banning bitcoin is not much different from trying to ban math. It will just prove its utility & drive more people to it.\"\n", + "title": "Can governments effectively ban bitcoin" } } diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json index 7b97371..3157c0e 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json @@ -1,134 +1,97 @@ -[ - { - "concentratedOwnership": { - "title": "Bitcoin Ownership Is Concentrated on a Few Users", - "questions": { - "concentratedOwnership": { - "answers": [ - "Yes, but these wallets belong to exchanges that have millions of customers", - "Yes, and these wallets belong to individuals who have hoarded large amounts of bitcoin", - "No, the vast majority of bitcoin is evenly distributed among a large number of users" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin wallet mastery. Did you know that it is generally considered best practice to keep bitcoin in a self-hosted wallet for security and privacy reasons", - "Nope, sorry! While it is technically true that a small number of wallets hold the majority of all bitcoin, these wallets don't necessarily belong to individuals who have hoarded large amounts of bitcoin. Keep learning about bitcoin", - "Uh oh, looks like you might have gotten the wrong answer. The distribution of bitcoin among users is not necessarily even. But at least you're learning about bitcoin!" - ], - "question": "Is it true that a small number of wallets hold the majority of all bitcoin", - "text": "It is often said that a small number of wallets hold the majority of all bitcoin. While this is technically true, it is important to note that these wallets are typically owned by exchanges that have millions of customers.\n\nMany people choose to leave their bitcoin on an exchange, but it is generally considered best practice to keep bitcoin in a personal wallet for security and privacy reasons.\n\nIt is also worth noting that a single bitcoin address can contain bitcoin belonging to multiple users, and a single user can control multiple wallets. To maintain privacy, it is recommended to generate a new address for each receiving transaction instead of reusing the same address.\n", - "title": "Is it true that a small number of wallets hold the majority of all bitcoin" - } - } - } - }, - { - "centralizedMining": { - "title": "Bitcoin Mining Is Centralized", - "questions": { - "centralizedMining": { - "answers": [ - "No, because they have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain", - "Yes, because they have a majority of the hashing power", - "Yes, but only if they are acting in their own self-interest" - ], - "feedback": [ - "Yep, that's right. Did you know that the decentralized nature of the bitcoin network ensures that no single entity, including mining pools, can disrupt the network or censor transactions", - "Nope, sorry! While mining pools do have a significant amount of hashing power, individual miners are extremely mobile and can trivially direct their hashrate to an honest mining pool", - "Incorrect. While it is true that mining pools have an incentive to act in their own self-interest, this does not mean that they can disrupt the bitcoin network or censor transactions." - ], - "question": "Can mining pools disrupt the bitcoin network or censor transactions", - "text": "Some people believe that mining pools, which are groups of miners that work together to increase their chances of finding a block, could potentially disrupt the bitcoin network or censor transactions.\n\nHowever, this concern stems from a lack of understanding of the incentives of miners and their role in the network. In reality, miners have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain, as their own profits depend on it.\n\nAs Jimmy Song said, \"A majority of hashing power can't: take coins you already possess away, change the rules of bitcoin, or hurt you without hurting themselves.\"\n", - "title": "Can mining pools disrupt the bitcoin network or censor transactions" - } - } - } - }, - { - "tooExpensive": { - "title": "Bitcoin is too expensive", - "questions": { - "tooExpensive": { - "answers": [ - "By comparing the entire market capitalization of bitcoin to that of other asset classes", - "By comparing the unit price of one bitcoin to the unit price of another asset, such as gold", - "By consulting a crystal ball and going with your gut feeling" - ], - "feedback": [ - "Congratulations, you're on the right track! It's important to consider the entire market cap of bitcoin when comparing it to other assets. Did you know that the total market cap of bitcoin reached over $1 trillion in 2021", - "Uh oh, it looks like you might have fallen for the unit bias trap! Better luck next time", - "Sorry, consulting a crystal ball might work for predicting the weather, but it's not a reliable way to assess the value of bitcoin. Better luck next time!" - ], - "question": "How can you accurately compare the value of bitcoin to other assets", - "text": "One common misconception about bitcoin is that it is too expensive to purchase.\n\nHowever, this belief is based on unit bias, as it is more accurate to compare the entire market capitalization of bitcoin to other assets rather than just the unit price of a single bitcoin.\n\nIt's also worth noting that a single bitcoin can be divided into 100 million smaller units called satoshis. As the saying goes, \"you can buy a fraction of a bitcoin!\"\n", - "title": "How can you accurately compare the value of bitcoin to other assets" - } - } - } - }, - { - "prohibitivelyHigh": { - "title": "Bitcoin transaction costs are prohibitively high", - "questions": { - "prohibitivelyHigh": { - "answers": [ - "The efficiency and reliability of the bitcoin network as a settlement layer", - "The use of secondary layers such as lightning, liquid, or federated side-chains for smaller transactions", - "The fact that bitcoin is still a relatively new technology and has not yet reached its full potential" - ], - "feedback": [ - "Congratulations, you've hit the nail on the head! The efficiency and reliability of the bitcoin network certainly play a role in keeping transaction fees low. Did you know that the bitcoin network can process up to 7 transactions per second, making it faster than some traditional payment systems", - "Nice try, but it looks like you're missing a key piece of information. Try again", - "Sorry, but being a newer technology does not necessarily equate to lower transaction fees. Better luck next time!" - ], - "question": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems", - "text": "Another misconception about bitcoin is that its transaction costs are prohibitively high.\n\nHowever, confirmed transactions on the main layer of bitcoin provide a level of finality that is unmatched in the traditional financial system. While it is true that transaction fees may occasionally spike due to the limited capacity of each block, the bitcoin network remains an efficient and reliable settlement layer for high-value transactions.\n\nIn fact, according to Saifedean Ammous, \"between October 2010 and July 2021, the average daily transaction fees came up to around 0.02% of the value of the transactions.\"\n\nIn addition, smaller transactions, including microtransactions, are often migrated to secondary layers such as lightning, liquid, or federated side-chains where fees are significantly lower than those offered by retail banks.\n", - "title": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems" - } - } - } - }, - { - "willBeHoarded": { - "title": "The Misconception of Bitcoin Hoarding", - "questions": { - "willBeHoarded": { - "answers": [ - "No, holding bitcoin is a way to hedge against future uncertainty and does not necessarily mean it is not being used", - "Yes, holding bitcoin is the same thing as hoarding bitcoin", - "It depends on the individual's intentions and financial goals" - ], - "feedback": [ - "Congratulations, you're on the right track! As Pierre Rochard pointed out, 'all bitcoin are always held by someone, payments only change who is holding it.' Well done", - "Uh oh, it looks like you might have fallen for the hoarding misconception! Holding bitcoin is a common way to hedge against future uncertainty and does not necessarily mean it is not being used", - "Sorry, but the distinction between holding and hoarding bitcoin is not dependent on an individual's intentions and financial goals. Better luck next time!" - ], - "question": "Is holding bitcoin the same thing as hoarding bitcoin", - "text": "There is a common belief that the fixed supply of bitcoin incentivizes hoarding, or the act of holding onto bitcoin rather than spending it in the economy.\n\nHowever, this logic has a few flaws. First, saving, or the act of setting aside income for future use, is often conflated with hoarding. In fact, saving is a necessary precursor to significant investment and can be seen as a responsible financial practice.\n\nSecond, holding onto bitcoin, or any form of money, is a common way to hedge against future uncertainty and does not necessarily mean that it is not being used.\n\nAs Pierre Rochard pointed out, \"all bitcoin are always held by someone, payments only change who is holding it.\" In other words, the act of holding bitcoin is itself a use of bitcoin.\n", - "title": "Is holding bitcoin the same thing as hoarding bitcoin" - } - } - } - }, - { - "canBeDuplicated": { - "title": "Bitcoin is not scarce because there are thousands of cryptocurrencies", - "questions": { - "canBeDuplicated": { - "answers": [ - "The code is heavily scrutinized and rigorously developed, ensuring its security and transparency", - "The fact that it is open source allows for a meritocracy and encourages the \"hive mind\" to build solutions", - "It is backed by a large and influential group of investors" - ], - "feedback": [ - "That's exactly right! The code of bitcoin is indeed heavily scrutinized and rigorously developed, which adds to its value. In fact, @BTCSchellingPt noted that Bitcoin Core is probably one of the most heavily scrutinized code bases in the world", - "Nice try, but the value of bitcoin lies not only in its code but also in the community and infrastructure surrounding it. Better luck next time", - "Sorry, the value of bitcoin is not solely determined by the backing of a group of investors. Better luck next time!" - ], - "question": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone", - "text": "One argument against the value of bitcoin is that it is not scarce because there are thousands of other cryptocurrencies available and because anyone can copy the code and create their own version.\n\nHowever, this overlooks the fact that bitcoin is more than just a piece of code. It is an open source protocol for transferring value that attracts people and resources due to its transparency and rigorous development process.\n\nAs @BTCSchellingPt noted, \"open source is very much a meritocracy. You've got the hive mind building solutions. You get all that scrutiny and that comes back to security. Bitcoin Core is probably one of the most heavily scrutinized code bases in the world.\"\n\nIn other words, the value of bitcoin lies not only in its code, but also in the community and infrastructure that surrounds it.\n", - "title": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone" - } +{ + "BitcoinCriticismsFallaciesIII": { + "title": "Bitcoin Criticisms & Fallacies III", + "questions": { + "concentratedOwnership": { + "answers": [ + "Yes, but these wallets belong to exchanges that have millions of customers", + "Yes, and these wallets belong to individuals who have hoarded large amounts of bitcoin", + "No, the vast majority of bitcoin is evenly distributed among a large number of users" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin wallet mastery. Did you know that it is generally considered best practice to keep bitcoin in a self-hosted wallet for security and privacy reasons", + "Nope, sorry! While it is technically true that a small number of wallets hold the majority of all bitcoin, these wallets don't necessarily belong to individuals who have hoarded large amounts of bitcoin. Keep learning about bitcoin", + "Uh oh, looks like you might have gotten the wrong answer. The distribution of bitcoin among users is not necessarily even. But at least you're learning about bitcoin!" + ], + "question": "Is it true that a small number of wallets hold the majority of all bitcoin", + "text": "It is often said that a small number of wallets hold the majority of all bitcoin. While this is technically true, it is important to note that these wallets are typically owned by exchanges that have millions of customers.\n\nMany people choose to leave their bitcoin on an exchange, but it is generally considered best practice to keep bitcoin in a personal wallet for security and privacy reasons.\n\nIt is also worth noting that a single bitcoin address can contain bitcoin belonging to multiple users, and a single user can control multiple wallets. To maintain privacy, it is recommended to generate a new address for each receiving transaction instead of reusing the same address.\n", + "title": "Is it true that a small number of wallets hold the majority of all bitcoin" + }, + "centralizedMining": { + "answers": [ + "No, because they have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain", + "Yes, because they have a majority of the hashing power", + "Yes, but only if they are acting in their own self-interest" + ], + "feedback": [ + "Yep, that's right. Did you know that the decentralized nature of the bitcoin network ensures that no single entity, including mining pools, can disrupt the network or censor transactions", + "Nope, sorry! While mining pools do have a significant amount of hashing power, individual miners are extremely mobile and can trivially direct their hashrate to an honest mining pool", + "Incorrect. While it is true that mining pools have an incentive to act in their own self-interest, this does not mean that they can disrupt the bitcoin network or censor transactions." + ], + "question": "Can mining pools disrupt the bitcoin network or censor transactions", + "text": "Some people believe that mining pools, which are groups of miners that work together to increase their chances of finding a block, could potentially disrupt the bitcoin network or censor transactions.\n\nHowever, this concern stems from a lack of understanding of the incentives of miners and their role in the network. In reality, miners have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain, as their own profits depend on it.\n\nAs Jimmy Song said, \"A majority of hashing power can't: take coins you already possess away, change the rules of bitcoin, or hurt you without hurting themselves.\"\n", + "title": "Can mining pools disrupt the bitcoin network or censor transactions" + }, + "tooExpensive": { + "answers": [ + "By comparing the entire market capitalization of bitcoin to that of other asset classes", + "By comparing the unit price of one bitcoin to the unit price of another asset, such as gold", + "By consulting a crystal ball and going with your gut feeling" + ], + "feedback": [ + "Congratulations, you're on the right track! It's important to consider the entire market cap of bitcoin when comparing it to other assets. Did you know that the total market cap of bitcoin reached over $1 trillion in 2021", + "Uh oh, it looks like you might have fallen for the unit bias trap! Better luck next time", + "Sorry, consulting a crystal ball might work for predicting the weather, but it's not a reliable way to assess the value of bitcoin. Better luck next time!" + ], + "question": "How can you accurately compare the value of bitcoin to other assets", + "text": "One common misconception about bitcoin is that it is too expensive to purchase.\n\nHowever, this belief is based on unit bias, as it is more accurate to compare the entire market capitalization of bitcoin to other assets rather than just the unit price of a single bitcoin.\n\nIt's also worth noting that a single bitcoin can be divided into 100 million smaller units called satoshis. As the saying goes, \"you can buy a fraction of a bitcoin!\"\n", + "title": "How can you accurately compare the value of bitcoin to other assets" + }, + "prohibitivelyHigh": { + "answers": [ + "The efficiency and reliability of the bitcoin network as a settlement layer", + "The use of secondary layers such as lightning, liquid, or federated side-chains for smaller transactions", + "The fact that bitcoin is still a relatively new technology and has not yet reached its full potential" + ], + "feedback": [ + "Congratulations, you've hit the nail on the head! The efficiency and reliability of the bitcoin network certainly play a role in keeping transaction fees low. Did you know that the bitcoin network can process up to 7 transactions per second, making it faster than some traditional payment systems", + "Nice try, but it looks like you're missing a key piece of information. Try again", + "Sorry, but being a newer technology does not necessarily equate to lower transaction fees. Better luck next time!" + ], + "question": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems", + "text": "Another misconception about bitcoin is that its transaction costs are prohibitively high.\n\nHowever, confirmed transactions on the main layer of bitcoin provide a level of finality that is unmatched in the traditional financial system. While it is true that transaction fees may occasionally spike due to the limited capacity of each block, the bitcoin network remains an efficient and reliable settlement layer for high-value transactions.\n\nIn fact, according to Saifedean Ammous, \"between October 2010 and July 2021, the average daily transaction fees came up to around 0.02% of the value of the transactions.\"\n\nIn addition, smaller transactions, including microtransactions, are often migrated to secondary layers such as lightning, liquid, or federated side-chains where fees are significantly lower than those offered by retail banks.\n", + "title": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems" + }, + "willBeHoarded": { + "answers": [ + "No, holding bitcoin is a way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Yes, holding bitcoin is the same thing as hoarding bitcoin", + "It depends on the individual's intentions and financial goals" + ], + "feedback": [ + "Congratulations, you're on the right track! As Pierre Rochard pointed out, 'all bitcoin are always held by someone, payments only change who is holding it.' Well done", + "Uh oh, it looks like you might have fallen for the hoarding misconception! Holding bitcoin is a common way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Sorry, but the distinction between holding and hoarding bitcoin is not dependent on an individual's intentions and financial goals. Better luck next time!" + ], + "question": "Is holding bitcoin the same thing as hoarding bitcoin", + "text": "There is a common belief that the fixed supply of bitcoin incentivizes hoarding, or the act of holding onto bitcoin rather than spending it in the economy.\n\nHowever, this logic has a few flaws. First, saving, or the act of setting aside income for future use, is often conflated with hoarding. In fact, saving is a necessary precursor to significant investment and can be seen as a responsible financial practice.\n\nSecond, holding onto bitcoin, or any form of money, is a common way to hedge against future uncertainty and does not necessarily mean that it is not being used.\n\nAs Pierre Rochard pointed out, \"all bitcoin are always held by someone, payments only change who is holding it.\" In other words, the act of holding bitcoin is itself a use of bitcoin.\n", + "title": "Is holding bitcoin the same thing as hoarding bitcoin" + }, + "canBeDuplicated": { + "answers": [ + "The code is heavily scrutinized and rigorously developed, ensuring its security and transparency", + "The fact that it is open source allows for a meritocracy and encourages the \"hive mind\" to build solutions", + "It is backed by a large and influential group of investors" + ], + "feedback": [ + "That's exactly right! The code of bitcoin is indeed heavily scrutinized and rigorously developed, which adds to its value. In fact, @BTCSchellingPt noted that Bitcoin Core is probably one of the most heavily scrutinized code bases in the world", + "Nice try, but the value of bitcoin lies not only in its code but also in the community and infrastructure surrounding it. Better luck next time", + "Sorry, the value of bitcoin is not solely determined by the backing of a group of investors. Better luck next time!" + ], + "question": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone", + "text": "One argument against the value of bitcoin is that it is not scarce because there are thousands of other cryptocurrencies available and because anyone can copy the code and create their own version.\n\nHowever, this overlooks the fact that bitcoin is more than just a piece of code. It is an open source protocol for transferring value that attracts people and resources due to its transparency and rigorous development process.\n\nAs @BTCSchellingPt noted, \"open source is very much a meritocracy. You've got the hive mind building solutions. You get all that scrutiny and that comes back to security. Bitcoin Core is probably one of the most heavily scrutinized code bases in the world.\"\n\nIn other words, the value of bitcoin lies not only in its code, but also in the community and infrastructure that surrounds it.\n", + "title": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone" } } } -] +} diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.01-lesson.concentrated-ownership.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.01-lesson.concentrated-ownership.json index c328700..0f241b8 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503.01-lesson.concentrated-ownership.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.01-lesson.concentrated-ownership.json @@ -1,22 +1,18 @@ { "concentratedOwnership": { - "title": "Bitcoin Ownership Is Concentrated on a Few Users", - "questions": { - "concentratedOwnership": { - "answers": [ - "Yes, but these wallets belong to exchanges that have millions of customers", - "Yes, and these wallets belong to individuals who have hoarded large amounts of bitcoin", - "No, the vast majority of bitcoin is evenly distributed among a large number of users" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin wallet mastery. Did you know that it is generally considered best practice to keep bitcoin in a self-hosted wallet for security and privacy reasons", - "Nope, sorry! While it is technically true that a small number of wallets hold the majority of all bitcoin, these wallets don't necessarily belong to individuals who have hoarded large amounts of bitcoin. Keep learning about bitcoin", - "Uh oh, looks like you might have gotten the wrong answer. The distribution of bitcoin among users is not necessarily even. But at least you're learning about bitcoin!" - ], - "question": "Is it true that a small number of wallets hold the majority of all bitcoin", - "text": "It is often said that a small number of wallets hold the majority of all bitcoin. While this is technically true, it is important to note that these wallets are typically owned by exchanges that have millions of customers.\n\nMany people choose to leave their bitcoin on an exchange, but it is generally considered best practice to keep bitcoin in a personal wallet for security and privacy reasons.\n\nIt is also worth noting that a single bitcoin address can contain bitcoin belonging to multiple users, and a single user can control multiple wallets. To maintain privacy, it is recommended to generate a new address for each receiving transaction instead of reusing the same address.\n", - "title": "Is it true that a small number of wallets hold the majority of all bitcoin" - } - } + "screen": "concentratedOwnership", + "answers": [ + "Yes, but these wallets belong to exchanges that have millions of customers", + "Yes, and these wallets belong to individuals who have hoarded large amounts of bitcoin", + "No, the vast majority of bitcoin is evenly distributed among a large number of users" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin wallet mastery. Did you know that it is generally considered best practice to keep bitcoin in a self-hosted wallet for security and privacy reasons", + "Nope, sorry! While it is technically true that a small number of wallets hold the majority of all bitcoin, these wallets don't necessarily belong to individuals who have hoarded large amounts of bitcoin. Keep learning about bitcoin", + "Uh oh, looks like you might have gotten the wrong answer. The distribution of bitcoin among users is not necessarily even. But at least you're learning about bitcoin!" + ], + "question": "Is it true that a small number of wallets hold the majority of all bitcoin", + "text": "It is often said that a small number of wallets hold the majority of all bitcoin. While this is technically true, it is important to note that these wallets are typically owned by exchanges that have millions of customers.\n\nMany people choose to leave their bitcoin on an exchange, but it is generally considered best practice to keep bitcoin in a personal wallet for security and privacy reasons.\n\nIt is also worth noting that a single bitcoin address can contain bitcoin belonging to multiple users, and a single user can control multiple wallets. To maintain privacy, it is recommended to generate a new address for each receiving transaction instead of reusing the same address.\n", + "title": "Is it true that a small number of wallets hold the majority of all bitcoin" } } diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.02-lesson-centralized-mining.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.02-lesson-centralized-mining.json index ab7e1dd..c114b03 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503.02-lesson-centralized-mining.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.02-lesson-centralized-mining.json @@ -1,22 +1,18 @@ { "centralizedMining": { - "title": "Bitcoin Mining Is Centralized", - "questions": { - "centralizedMining": { - "answers": [ - "No, because they have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain", - "Yes, because they have a majority of the hashing power", - "Yes, but only if they are acting in their own self-interest" - ], - "feedback": [ - "Yep, that's right. Did you know that the decentralized nature of the bitcoin network ensures that no single entity, including mining pools, can disrupt the network or censor transactions", - "Nope, sorry! While mining pools do have a significant amount of hashing power, individual miners are extremely mobile and can trivially direct their hashrate to an honest mining pool", - "Incorrect. While it is true that mining pools have an incentive to act in their own self-interest, this does not mean that they can disrupt the bitcoin network or censor transactions." - ], - "question": "Can mining pools disrupt the bitcoin network or censor transactions", - "text": "Some people believe that mining pools, which are groups of miners that work together to increase their chances of finding a block, could potentially disrupt the bitcoin network or censor transactions.\n\nHowever, this concern stems from a lack of understanding of the incentives of miners and their role in the network. In reality, miners have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain, as their own profits depend on it.\n\nAs Jimmy Song said, \"A majority of hashing power can't: take coins you already possess away, change the rules of bitcoin, or hurt you without hurting themselves.\"\n", - "title": "Can mining pools disrupt the bitcoin network or censor transactions" - } - } + "screen": "centralizedMining", + "answers": [ + "No, because they have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain", + "Yes, because they have a majority of the hashing power", + "Yes, but only if they are acting in their own self-interest" + ], + "feedback": [ + "Yep, that's right. Did you know that the decentralized nature of the bitcoin network ensures that no single entity, including mining pools, can disrupt the network or censor transactions", + "Nope, sorry! While mining pools do have a significant amount of hashing power, individual miners are extremely mobile and can trivially direct their hashrate to an honest mining pool", + "Incorrect. While it is true that mining pools have an incentive to act in their own self-interest, this does not mean that they can disrupt the bitcoin network or censor transactions." + ], + "question": "Can mining pools disrupt the bitcoin network or censor transactions", + "text": "Some people believe that mining pools, which are groups of miners that work together to increase their chances of finding a block, could potentially disrupt the bitcoin network or censor transactions.\n\nHowever, this concern stems from a lack of understanding of the incentives of miners and their role in the network. In reality, miners have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain, as their own profits depend on it.\n\nAs Jimmy Song said, \"A majority of hashing power can't: take coins you already possess away, change the rules of bitcoin, or hurt you without hurting themselves.\"\n", + "title": "Can mining pools disrupt the bitcoin network or censor transactions" } } diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.03-lesson-too-expensive.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.03-lesson-too-expensive.json index 567a114..35b39c6 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503.03-lesson-too-expensive.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.03-lesson-too-expensive.json @@ -1,22 +1,18 @@ { "tooExpensive": { - "title": "Bitcoin is too expensive", - "questions": { - "tooExpensive": { - "answers": [ - "By comparing the entire market capitalization of bitcoin to that of other asset classes", - "By comparing the unit price of one bitcoin to the unit price of another asset, such as gold", - "By consulting a crystal ball and going with your gut feeling" - ], - "feedback": [ - "Congratulations, you're on the right track! It's important to consider the entire market cap of bitcoin when comparing it to other assets. Did you know that the total market cap of bitcoin reached over $1 trillion in 2021", - "Uh oh, it looks like you might have fallen for the unit bias trap! Better luck next time", - "Sorry, consulting a crystal ball might work for predicting the weather, but it's not a reliable way to assess the value of bitcoin. Better luck next time!" - ], - "question": "How can you accurately compare the value of bitcoin to other assets", - "text": "One common misconception about bitcoin is that it is too expensive to purchase.\n\nHowever, this belief is based on unit bias, as it is more accurate to compare the entire market capitalization of bitcoin to other assets rather than just the unit price of a single bitcoin.\n\nIt's also worth noting that a single bitcoin can be divided into 100 million smaller units called satoshis. As the saying goes, \"you can buy a fraction of a bitcoin!\"\n", - "title": "How can you accurately compare the value of bitcoin to other assets" - } - } + "screen": "tooExpensive", + "answers": [ + "By comparing the entire market capitalization of bitcoin to that of other asset classes", + "By comparing the unit price of one bitcoin to the unit price of another asset, such as gold", + "By consulting a crystal ball and going with your gut feeling" + ], + "feedback": [ + "Congratulations, you're on the right track! It's important to consider the entire market cap of bitcoin when comparing it to other assets. Did you know that the total market cap of bitcoin reached over $1 trillion in 2021", + "Uh oh, it looks like you might have fallen for the unit bias trap! Better luck next time", + "Sorry, consulting a crystal ball might work for predicting the weather, but it's not a reliable way to assess the value of bitcoin. Better luck next time!" + ], + "question": "How can you accurately compare the value of bitcoin to other assets", + "text": "One common misconception about bitcoin is that it is too expensive to purchase.\n\nHowever, this belief is based on unit bias, as it is more accurate to compare the entire market capitalization of bitcoin to other assets rather than just the unit price of a single bitcoin.\n\nIt's also worth noting that a single bitcoin can be divided into 100 million smaller units called satoshis. As the saying goes, \"you can buy a fraction of a bitcoin!\"\n", + "title": "How can you accurately compare the value of bitcoin to other assets" } } diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.04-lesson-prohibitively-high.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.04-lesson-prohibitively-high.json index 7409d78..0f94be0 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503.04-lesson-prohibitively-high.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.04-lesson-prohibitively-high.json @@ -1,22 +1,18 @@ { "prohibitivelyHigh": { - "title": "Bitcoin transaction costs are prohibitively high", - "questions": { - "prohibitivelyHigh": { - "answers": [ - "The efficiency and reliability of the bitcoin network as a settlement layer", - "The use of secondary layers such as lightning, liquid, or federated side-chains for smaller transactions", - "The fact that bitcoin is still a relatively new technology and has not yet reached its full potential" - ], - "feedback": [ - "Congratulations, you've hit the nail on the head! The efficiency and reliability of the bitcoin network certainly play a role in keeping transaction fees low. Did you know that the bitcoin network can process up to 7 transactions per second, making it faster than some traditional payment systems", - "Nice try, but it looks like you're missing a key piece of information. Try again", - "Sorry, but being a newer technology does not necessarily equate to lower transaction fees. Better luck next time!" - ], - "question": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems", - "text": "Another misconception about bitcoin is that its transaction costs are prohibitively high.\n\nHowever, confirmed transactions on the main layer of bitcoin provide a level of finality that is unmatched in the traditional financial system. While it is true that transaction fees may occasionally spike due to the limited capacity of each block, the bitcoin network remains an efficient and reliable settlement layer for high-value transactions.\n\nIn fact, according to Saifedean Ammous, \"between October 2010 and July 2021, the average daily transaction fees came up to around 0.02% of the value of the transactions.\"\n\nIn addition, smaller transactions, including microtransactions, are often migrated to secondary layers such as lightning, liquid, or federated side-chains where fees are significantly lower than those offered by retail banks.\n", - "title": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems" - } - } + "screen": "prohibitivelyHigh", + "answers": [ + "The efficiency and reliability of the bitcoin network as a settlement layer", + "The use of secondary layers such as lightning, liquid, or federated side-chains for smaller transactions", + "The fact that bitcoin is still a relatively new technology and has not yet reached its full potential" + ], + "feedback": [ + "Congratulations, you've hit the nail on the head! The efficiency and reliability of the bitcoin network certainly play a role in keeping transaction fees low. Did you know that the bitcoin network can process up to 7 transactions per second, making it faster than some traditional payment systems", + "Nice try, but it looks like you're missing a key piece of information. Try again", + "Sorry, but being a newer technology does not necessarily equate to lower transaction fees. Better luck next time!" + ], + "question": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems", + "text": "Another misconception about bitcoin is that its transaction costs are prohibitively high.\n\nHowever, confirmed transactions on the main layer of bitcoin provide a level of finality that is unmatched in the traditional financial system. While it is true that transaction fees may occasionally spike due to the limited capacity of each block, the bitcoin network remains an efficient and reliable settlement layer for high-value transactions.\n\nIn fact, according to Saifedean Ammous, \"between October 2010 and July 2021, the average daily transaction fees came up to around 0.02% of the value of the transactions.\"\n\nIn addition, smaller transactions, including microtransactions, are often migrated to secondary layers such as lightning, liquid, or federated side-chains where fees are significantly lower than those offered by retail banks.\n", + "title": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems" } } diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.05-lesson-will-be-hoarded.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.05-lesson-will-be-hoarded.json index dd69aee..84c2d2a 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503.05-lesson-will-be-hoarded.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.05-lesson-will-be-hoarded.json @@ -1,22 +1,18 @@ { "willBeHoarded": { - "title": "The Misconception of Bitcoin Hoarding", - "questions": { - "willBeHoarded": { - "answers": [ - "No, holding bitcoin is a way to hedge against future uncertainty and does not necessarily mean it is not being used", - "Yes, holding bitcoin is the same thing as hoarding bitcoin", - "It depends on the individual's intentions and financial goals" - ], - "feedback": [ - "Congratulations, you're on the right track! As Pierre Rochard pointed out, 'all bitcoin are always held by someone, payments only change who is holding it.' Well done", - "Uh oh, it looks like you might have fallen for the hoarding misconception! Holding bitcoin is a common way to hedge against future uncertainty and does not necessarily mean it is not being used", - "Sorry, but the distinction between holding and hoarding bitcoin is not dependent on an individual's intentions and financial goals. Better luck next time!" - ], - "question": "Is holding bitcoin the same thing as hoarding bitcoin", - "text": "There is a common belief that the fixed supply of bitcoin incentivizes hoarding, or the act of holding onto bitcoin rather than spending it in the economy.\n\nHowever, this logic has a few flaws. First, saving, or the act of setting aside income for future use, is often conflated with hoarding. In fact, saving is a necessary precursor to significant investment and can be seen as a responsible financial practice.\n\nSecond, holding onto bitcoin, or any form of money, is a common way to hedge against future uncertainty and does not necessarily mean that it is not being used.\n\nAs Pierre Rochard pointed out, \"all bitcoin are always held by someone, payments only change who is holding it.\" In other words, the act of holding bitcoin is itself a use of bitcoin.\n", - "title": "Is holding bitcoin the same thing as hoarding bitcoin" - } - } + "screen": "willBeHoarded", + "answers": [ + "No, holding bitcoin is a way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Yes, holding bitcoin is the same thing as hoarding bitcoin", + "It depends on the individual's intentions and financial goals" + ], + "feedback": [ + "Congratulations, you're on the right track! As Pierre Rochard pointed out, 'all bitcoin are always held by someone, payments only change who is holding it.' Well done", + "Uh oh, it looks like you might have fallen for the hoarding misconception! Holding bitcoin is a common way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Sorry, but the distinction between holding and hoarding bitcoin is not dependent on an individual's intentions and financial goals. Better luck next time!" + ], + "question": "Is holding bitcoin the same thing as hoarding bitcoin", + "text": "There is a common belief that the fixed supply of bitcoin incentivizes hoarding, or the act of holding onto bitcoin rather than spending it in the economy.\n\nHowever, this logic has a few flaws. First, saving, or the act of setting aside income for future use, is often conflated with hoarding. In fact, saving is a necessary precursor to significant investment and can be seen as a responsible financial practice.\n\nSecond, holding onto bitcoin, or any form of money, is a common way to hedge against future uncertainty and does not necessarily mean that it is not being used.\n\nAs Pierre Rochard pointed out, \"all bitcoin are always held by someone, payments only change who is holding it.\" In other words, the act of holding bitcoin is itself a use of bitcoin.\n", + "title": "Is holding bitcoin the same thing as hoarding bitcoin" } } diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503.06-lesson-can-be-duplicated.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503.06-lesson-can-be-duplicated.json index ddcba1d..4d453bb 100644 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503.06-lesson-can-be-duplicated.json +++ b/chapter-503-bitcoin-criticisms-fallacies-iii/503.06-lesson-can-be-duplicated.json @@ -1,22 +1,18 @@ { "canBeDuplicated": { - "title": "Bitcoin is not scarce because there are thousands of cryptocurrencies", - "questions": { - "canBeDuplicated": { - "answers": [ - "The code is heavily scrutinized and rigorously developed, ensuring its security and transparency", - "The fact that it is open source allows for a meritocracy and encourages the \"hive mind\" to build solutions", - "It is backed by a large and influential group of investors" - ], - "feedback": [ - "That's exactly right! The code of bitcoin is indeed heavily scrutinized and rigorously developed, which adds to its value. In fact, @BTCSchellingPt noted that Bitcoin Core is probably one of the most heavily scrutinized code bases in the world", - "Nice try, but the value of bitcoin lies not only in its code but also in the community and infrastructure surrounding it. Better luck next time", - "Sorry, the value of bitcoin is not solely determined by the backing of a group of investors. Better luck next time!" - ], - "question": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone", - "text": "One argument against the value of bitcoin is that it is not scarce because there are thousands of other cryptocurrencies available and because anyone can copy the code and create their own version.\n\nHowever, this overlooks the fact that bitcoin is more than just a piece of code. It is an open source protocol for transferring value that attracts people and resources due to its transparency and rigorous development process.\n\nAs @BTCSchellingPt noted, \"open source is very much a meritocracy. You've got the hive mind building solutions. You get all that scrutiny and that comes back to security. Bitcoin Core is probably one of the most heavily scrutinized code bases in the world.\"\n\nIn other words, the value of bitcoin lies not only in its code, but also in the community and infrastructure that surrounds it.\n", - "title": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone" - } - } + "screen": "canBeDuplicated", + "answers": [ + "The code is heavily scrutinized and rigorously developed, ensuring its security and transparency", + "The fact that it is open source allows for a meritocracy and encourages the \"hive mind\" to build solutions", + "It is backed by a large and influential group of investors" + ], + "feedback": [ + "That's exactly right! The code of bitcoin is indeed heavily scrutinized and rigorously developed, which adds to its value. In fact, @BTCSchellingPt noted that Bitcoin Core is probably one of the most heavily scrutinized code bases in the world", + "Nice try, but the value of bitcoin lies not only in its code but also in the community and infrastructure surrounding it. Better luck next time", + "Sorry, the value of bitcoin is not solely determined by the backing of a group of investors. Better luck next time!" + ], + "question": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone", + "text": "One argument against the value of bitcoin is that it is not scarce because there are thousands of other cryptocurrencies available and because anyone can copy the code and create their own version.\n\nHowever, this overlooks the fact that bitcoin is more than just a piece of code. It is an open source protocol for transferring value that attracts people and resources due to its transparency and rigorous development process.\n\nAs @BTCSchellingPt noted, \"open source is very much a meritocracy. You've got the hive mind building solutions. You get all that scrutiny and that comes back to security. Bitcoin Core is probably one of the most heavily scrutinized code bases in the world.\"\n\nIn other words, the value of bitcoin lies not only in its code, but also in the community and infrastructure that surrounds it.\n", + "title": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone" } } diff --git a/chapter-601-bitcoin-and-economics-i/601-combined.json b/chapter-601-bitcoin-and-economics-i/601-combined.json index acc9848..f6621ed 100644 --- a/chapter-601-bitcoin-and-economics-i/601-combined.json +++ b/chapter-601-bitcoin-and-economics-i/601-combined.json @@ -1,134 +1,97 @@ -[ - { - "scarcity": { - "title": "How limited resources are allocated and competed for", - "questions": { - "scarcity": { - "answers": [ - "A resource that is limited in quantity or availability and can lead to competition for possession", - "A resource that is abundant and easy to come by", - "A resource that can only be obtained through time travel" - ], - "feedback": [ - "Remark:** Correct! Good job, you understood the concept of scarcity. Scarcity can lead to competition and can affect the value of goods and services in a free market", - "Wrong! Sorry to burst your bubble, but if something is easy to come by, it can't be scarce", - "Wrong! Time travel is a great idea for a sci-fi movie, but it doesn't have anything to do with scarce resources." - ], - "question": "What is a scarce resource", - "text": "When there are not enough resources to go around, people and organizations compete for them.\n\nThis competition is often reflected in the price of goods and services in a free market. If the demand for a particular resource increases faster than the supply, it can become scarce and more valuable.\n\nMoney is often used as a way to buy things because it is easy to trade and is valuable because it is scarce. Bitcoin is a digital form of money that has a fixed supply, which makes it rare and valuable.\n\nThe idea that there is never enough of something to go around is a basic principle of economics, but it is often ignored in political decisions.\n", - "title": "What is a scarce resource" - } - } - } - }, - { - "monetaryPremium": { - "title": "Monetary Premium", - "questions": { - "monetaryPremium": { - "answers": [ - "The difference in value between something's use as money and its value for its other uses", - "An extra fee added to the price of goods and services", - "A monetary premium has nothing to do with paying extra for things" - ], - "feedback": [ - "Congratulations! You know your stuff when it comes to monetary premiums. A monetary premium is the additional value that something can have when it is used as a substitute for money. Good job", - "Sorry, wrong answer! A monetary premium has nothing to do with paying extra for things", - "Nope! A monetary premium is not a discount, it's actually the opposite." - ], - "question": "What is a monetary premium", - "text": "If the value of money is not based on its scarcity, it may not be as reliable as a way to store wealth. In this case, other things that are scarce, such as assets or resources, may become more valuable and be used as a substitute for money.\n\nThis additional value is known as a monetary premium. When the usual form of money is not working well, people may turn to other things that are rare or hard to obtain as a way to exchange value.\n\nSome historical forms of money had no other use or value besides being used as a way to trade for other things. The difference between the value of something as money and its value for its other uses is the monetary premium.\n", - "title": "What is a monetary premium" - } - } - } - }, - { - "greshamsLaw": { - "title": "Gresham's Law", - "questions": { - "greshamsLaw": { - "answers": [ - "A law that explains how people tend to use different types of currency in different ways when they are in circulation together", - "A law that says people will always choose to spend the more valuable currency when given a choice", - "Gresham's Law actually explains the opposite behavior" - ], - "feedback": [ - "Good job, you understood Gresham's Law. This law explains how people tend to save the more valuable currency and spend the less valuable one when given the choice. Interesting fact: Gresham's Law can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver", - "Sorry, wrong answer! Gresham's Law actually explains the opposite behavior", - "Ha! That's a funny answer, but unfortunately it's not correct." - ], - "question": "What is Gresham's Law", - "text": "Gresham's Law is a concept that explains how people tend to use different types of currency in different ways when they are in circulation together.\n\nIf two forms of currency are given equal value by a government or other authority, but one is made of a more valuable material, people will be more likely to save the more valuable currency and spend the less valuable one.\n\nThis can happen when a government debases its currency, or makes it worth less, by decreasing the amount of valuable material it contains. The result is that people lose trust in the debased currency and prefer to hold onto the more valuable one instead.\n\nThis principle can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver, if the supply of the currency is increased in a way that makes it worth less.\n\nIn recent years, the emergence of bitcoin as a digital currency has led to a trend of people saving in bitcoin and spending their traditional currency, or \"fiat,\" more quickly. This is because bitcoin is seen as having a higher long-term value and being more stable than fiat currencies.\n", - "title": "What is Gresham's Law" - } - } - } - }, - { - "thiersLaw": { - "title": "Thier's Law", - "questions": { - "thiersLaw": { - "answers": [ - "A law that discusses what might happen if people and businesses refuse to accept or use a lower quality form of currency", - "A law that says people will always choose the more valuable currency when given a choice", - "A law that says people will always choose the less valuable currency when given a choice" - ], - "feedback": [ - "Correct! Good job, you understood Thier's Law. This law discusses what might happen if people and businesses refuse to accept a lower quality form of currency. Interesting fact: Thier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored", - "Wrong answer! Gresham's Law explains this behavior, not Thier's Law", - "Sorry, try again! Thier's Law is not about always choosing the less valuable currency." - ], - "question": "What is Thier's Law", - "text": "Thier's Law is a concept that discusses what might happen if people and businesses refused to accept or use a lower quality form of currency.\n\nInstead of disappearing from circulation, the higher quality form of money might be traded at a premium, or for a higher value than its face value.\n\nThier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored.\n\nIn other words, people and businesses may choose not to accept the lower quality currency and instead prefer to use the higher quality one or other forms of payment.\n", - "title": "What is Thier's Law" - } - } - } - }, - { - "cantillonEffect": { - "title": "The **** Cantillon Effect", - "questions": { - "cantillonEffect": { - "answers": [ - "A phenomenon that occurs when new money is introduced into an economy, causing some prices to increase more than others and leading to an uneven distribution of wealth.", - "A mysterious force that causes people to turn into cantaloupes whenever they eat too much fruit.", - "A dance move that involves spinning around in circles while holding a bunch of cantaloupes." - ], - "feedback": [ - "Congratulations, you are correct! The Cantillon Effect is indeed a process that can influence the distribution of wealth in an economy. Good job", - "Sorry, but the Cantillon Effect doesn't have anything to do with fruit transformation. Better luck next time", - "Sorry, but the Cantillon Effect is not a dance move, no matter how much you love cantaloupes. Better luck next time!" - ], - "question": "What is the Cantillon Effect", - "text": "The Cantillon Effect is a phenomenon that occurs when new money is introduced into an economy.\n\nWhen new money is added, it tends to go to certain people or businesses first, and these initial recipients have an advantage over others because they get to use the new money before prices go up.\n\nThis causes the prices of some goods and services to increase more than others, which means that the people who get the new money first benefit while those who get it later are disadvantaged.\n\nThis effect was first described by economist Richard Cantillon in the context of commodity money, such as gold and silver, but it is even more relevant today in the age of fiat money.\n\nWhen a government or central bank creates a lot of new fiat money, it can lead to increased prices and uneven distribution of wealth, as some people and businesses are able to access credit more easily and benefit from rising asset prices.\n", - "title": "What is the Cantillon Effect" - } - } - } - }, - { - "schellingPoint": { - "title": "Schelling Point", - "questions": { - "schellingPoint": { - "answers": [ - "A solution that people tend to choose by default in the absence of communication", - "A type of point system used in online multiplayer games", - "A point on the earth's surface where all the planet's magnetic forces are balanced" - ], - "feedback": [ - "You got it right. Did you know that a Schelling point can occur in multiplayer cooperative games and communication networks, and can be facilitated by standardized protocols like money", - "Wrong! But at least you're thinking about points. Maybe try again and focus on communication this time", - "Ha! You're off by a whole planet. Maybe try again and focus on the concept of default choices in the absence of communication." - ], - "question": "What is a Schelling point", - "text": "A Schelling point is a solution that people tend to choose by default, without communicating with each other.\n\nThis can happen in multiplayer cooperative games, where you have to anticipate the choices of others. If you make the wrong choice, you might face consequences or miss out on benefits.\n\nCommunication works the same way - it's like a multiplayer cooperative game played with others in the same network. We use standardized protocols (like email, spoken language, or money) to communicate efficiently with as many people as possible, with as little friction as possible. This can lead to increased trade, knowledge exchange, and innovation.\n\nIn the digital world, people tend to choose the same option (the Schelling point) when exchanging value. This is because they expect that others will also choose it.\n\nThe option that becomes the Schelling point is the one that communicates price signals most accurately, allowing market participants to coordinate with each other.\n\nBitcoin is a protocol for exchanging value that has several advantages over traditional currencies (called \"fiat\"). For example, it has a fixed supply and its value has generally increased over time, while fiat currencies often lose value. Additionally, the bitcoin network is permissionless, global, and indestructible. All of these factors make bitcoin a natural Schelling point for money.\n", - "title": "What is a Schelling point" - } +{ + "BitcoinandEconomicsI": { + "title": "Bitcoin and Economics I", + "questions": { + "scarcity": { + "answers": [ + "A resource that is limited in quantity or availability and can lead to competition for possession", + "A resource that is abundant and easy to come by", + "A resource that can only be obtained through time travel" + ], + "feedback": [ + "Remark:** Correct! Good job, you understood the concept of scarcity. Scarcity can lead to competition and can affect the value of goods and services in a free market", + "Wrong! Sorry to burst your bubble, but if something is easy to come by, it can't be scarce", + "Wrong! Time travel is a great idea for a sci-fi movie, but it doesn't have anything to do with scarce resources." + ], + "question": "What is a scarce resource", + "text": "When there are not enough resources to go around, people and organizations compete for them.\n\nThis competition is often reflected in the price of goods and services in a free market. If the demand for a particular resource increases faster than the supply, it can become scarce and more valuable.\n\nMoney is often used as a way to buy things because it is easy to trade and is valuable because it is scarce. Bitcoin is a digital form of money that has a fixed supply, which makes it rare and valuable.\n\nThe idea that there is never enough of something to go around is a basic principle of economics, but it is often ignored in political decisions.\n", + "title": "What is a scarce resource" + }, + "monetaryPremium": { + "answers": [ + "The difference in value between something's use as money and its value for its other uses", + "An extra fee added to the price of goods and services", + "A monetary premium has nothing to do with paying extra for things" + ], + "feedback": [ + "Congratulations! You know your stuff when it comes to monetary premiums. A monetary premium is the additional value that something can have when it is used as a substitute for money. Good job", + "Sorry, wrong answer! A monetary premium has nothing to do with paying extra for things", + "Nope! A monetary premium is not a discount, it's actually the opposite." + ], + "question": "What is a monetary premium", + "text": "If the value of money is not based on its scarcity, it may not be as reliable as a way to store wealth. In this case, other things that are scarce, such as assets or resources, may become more valuable and be used as a substitute for money.\n\nThis additional value is known as a monetary premium. When the usual form of money is not working well, people may turn to other things that are rare or hard to obtain as a way to exchange value.\n\nSome historical forms of money had no other use or value besides being used as a way to trade for other things. The difference between the value of something as money and its value for its other uses is the monetary premium.\n", + "title": "What is a monetary premium" + }, + "greshamsLaw": { + "answers": [ + "A law that explains how people tend to use different types of currency in different ways when they are in circulation together", + "A law that says people will always choose to spend the more valuable currency when given a choice", + "Gresham's Law actually explains the opposite behavior" + ], + "feedback": [ + "Good job, you understood Gresham's Law. This law explains how people tend to save the more valuable currency and spend the less valuable one when given the choice. Interesting fact: Gresham's Law can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver", + "Sorry, wrong answer! Gresham's Law actually explains the opposite behavior", + "Ha! That's a funny answer, but unfortunately it's not correct." + ], + "question": "What is Gresham's Law", + "text": "Gresham's Law is a concept that explains how people tend to use different types of currency in different ways when they are in circulation together.\n\nIf two forms of currency are given equal value by a government or other authority, but one is made of a more valuable material, people will be more likely to save the more valuable currency and spend the less valuable one.\n\nThis can happen when a government debases its currency, or makes it worth less, by decreasing the amount of valuable material it contains. The result is that people lose trust in the debased currency and prefer to hold onto the more valuable one instead.\n\nThis principle can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver, if the supply of the currency is increased in a way that makes it worth less.\n\nIn recent years, the emergence of bitcoin as a digital currency has led to a trend of people saving in bitcoin and spending their traditional currency, or \"fiat,\" more quickly. This is because bitcoin is seen as having a higher long-term value and being more stable than fiat currencies.\n", + "title": "What is Gresham's Law" + }, + "thiersLaw": { + "answers": [ + "A law that discusses what might happen if people and businesses refuse to accept or use a lower quality form of currency", + "A law that says people will always choose the more valuable currency when given a choice", + "A law that says people will always choose the less valuable currency when given a choice" + ], + "feedback": [ + "Correct! Good job, you understood Thier's Law. This law discusses what might happen if people and businesses refuse to accept a lower quality form of currency. Interesting fact: Thier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored", + "Wrong answer! Gresham's Law explains this behavior, not Thier's Law", + "Sorry, try again! Thier's Law is not about always choosing the less valuable currency." + ], + "question": "What is Thier's Law", + "text": "Thier's Law is a concept that discusses what might happen if people and businesses refused to accept or use a lower quality form of currency.\n\nInstead of disappearing from circulation, the higher quality form of money might be traded at a premium, or for a higher value than its face value.\n\nThier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored.\n\nIn other words, people and businesses may choose not to accept the lower quality currency and instead prefer to use the higher quality one or other forms of payment.\n", + "title": "What is Thier's Law" + }, + "cantillonEffect": { + "answers": [ + "A phenomenon that occurs when new money is introduced into an economy, causing some prices to increase more than others and leading to an uneven distribution of wealth.", + "A mysterious force that causes people to turn into cantaloupes whenever they eat too much fruit.", + "A dance move that involves spinning around in circles while holding a bunch of cantaloupes." + ], + "feedback": [ + "Congratulations, you are correct! The Cantillon Effect is indeed a process that can influence the distribution of wealth in an economy. Good job", + "Sorry, but the Cantillon Effect doesn't have anything to do with fruit transformation. Better luck next time", + "Sorry, but the Cantillon Effect is not a dance move, no matter how much you love cantaloupes. Better luck next time!" + ], + "question": "What is the Cantillon Effect", + "text": "The Cantillon Effect is a phenomenon that occurs when new money is introduced into an economy.\n\nWhen new money is added, it tends to go to certain people or businesses first, and these initial recipients have an advantage over others because they get to use the new money before prices go up.\n\nThis causes the prices of some goods and services to increase more than others, which means that the people who get the new money first benefit while those who get it later are disadvantaged.\n\nThis effect was first described by economist Richard Cantillon in the context of commodity money, such as gold and silver, but it is even more relevant today in the age of fiat money.\n\nWhen a government or central bank creates a lot of new fiat money, it can lead to increased prices and uneven distribution of wealth, as some people and businesses are able to access credit more easily and benefit from rising asset prices.\n", + "title": "What is the Cantillon Effect" + }, + "schellingPoint": { + "answers": [ + "A solution that people tend to choose by default in the absence of communication", + "A type of point system used in online multiplayer games", + "A point on the earth's surface where all the planet's magnetic forces are balanced" + ], + "feedback": [ + "You got it right. Did you know that a Schelling point can occur in multiplayer cooperative games and communication networks, and can be facilitated by standardized protocols like money", + "Wrong! But at least you're thinking about points. Maybe try again and focus on communication this time", + "Ha! You're off by a whole planet. Maybe try again and focus on the concept of default choices in the absence of communication." + ], + "question": "What is a Schelling point", + "text": "A Schelling point is a solution that people tend to choose by default, without communicating with each other.\n\nThis can happen in multiplayer cooperative games, where you have to anticipate the choices of others. If you make the wrong choice, you might face consequences or miss out on benefits.\n\nCommunication works the same way - it's like a multiplayer cooperative game played with others in the same network. We use standardized protocols (like email, spoken language, or money) to communicate efficiently with as many people as possible, with as little friction as possible. This can lead to increased trade, knowledge exchange, and innovation.\n\nIn the digital world, people tend to choose the same option (the Schelling point) when exchanging value. This is because they expect that others will also choose it.\n\nThe option that becomes the Schelling point is the one that communicates price signals most accurately, allowing market participants to coordinate with each other.\n\nBitcoin is a protocol for exchanging value that has several advantages over traditional currencies (called \"fiat\"). For example, it has a fixed supply and its value has generally increased over time, while fiat currencies often lose value. Additionally, the bitcoin network is permissionless, global, and indestructible. All of these factors make bitcoin a natural Schelling point for money.\n", + "title": "What is a Schelling point" } } } -] +} diff --git a/chapter-601-bitcoin-and-economics-i/601.01-lesson-scarcity.json b/chapter-601-bitcoin-and-economics-i/601.01-lesson-scarcity.json index 26e97bc..58a447c 100644 --- a/chapter-601-bitcoin-and-economics-i/601.01-lesson-scarcity.json +++ b/chapter-601-bitcoin-and-economics-i/601.01-lesson-scarcity.json @@ -1,22 +1,18 @@ { "scarcity": { - "title": "How limited resources are allocated and competed for", - "questions": { - "scarcity": { - "answers": [ - "A resource that is limited in quantity or availability and can lead to competition for possession", - "A resource that is abundant and easy to come by", - "A resource that can only be obtained through time travel" - ], - "feedback": [ - "Remark:** Correct! Good job, you understood the concept of scarcity. Scarcity can lead to competition and can affect the value of goods and services in a free market", - "Wrong! Sorry to burst your bubble, but if something is easy to come by, it can't be scarce", - "Wrong! Time travel is a great idea for a sci-fi movie, but it doesn't have anything to do with scarce resources." - ], - "question": "What is a scarce resource", - "text": "When there are not enough resources to go around, people and organizations compete for them.\n\nThis competition is often reflected in the price of goods and services in a free market. If the demand for a particular resource increases faster than the supply, it can become scarce and more valuable.\n\nMoney is often used as a way to buy things because it is easy to trade and is valuable because it is scarce. Bitcoin is a digital form of money that has a fixed supply, which makes it rare and valuable.\n\nThe idea that there is never enough of something to go around is a basic principle of economics, but it is often ignored in political decisions.\n", - "title": "What is a scarce resource" - } - } + "screen": "scarcity", + "answers": [ + "A resource that is limited in quantity or availability and can lead to competition for possession", + "A resource that is abundant and easy to come by", + "A resource that can only be obtained through time travel" + ], + "feedback": [ + "Remark:** Correct! Good job, you understood the concept of scarcity. Scarcity can lead to competition and can affect the value of goods and services in a free market", + "Wrong! Sorry to burst your bubble, but if something is easy to come by, it can't be scarce", + "Wrong! Time travel is a great idea for a sci-fi movie, but it doesn't have anything to do with scarce resources." + ], + "question": "What is a scarce resource", + "text": "When there are not enough resources to go around, people and organizations compete for them.\n\nThis competition is often reflected in the price of goods and services in a free market. If the demand for a particular resource increases faster than the supply, it can become scarce and more valuable.\n\nMoney is often used as a way to buy things because it is easy to trade and is valuable because it is scarce. Bitcoin is a digital form of money that has a fixed supply, which makes it rare and valuable.\n\nThe idea that there is never enough of something to go around is a basic principle of economics, but it is often ignored in political decisions.\n", + "title": "What is a scarce resource" } } diff --git a/chapter-601-bitcoin-and-economics-i/601.02-lesson-monetary-premium.json b/chapter-601-bitcoin-and-economics-i/601.02-lesson-monetary-premium.json index 23d2dea..0674285 100644 --- a/chapter-601-bitcoin-and-economics-i/601.02-lesson-monetary-premium.json +++ b/chapter-601-bitcoin-and-economics-i/601.02-lesson-monetary-premium.json @@ -1,22 +1,18 @@ { "monetaryPremium": { - "title": "Monetary Premium", - "questions": { - "monetaryPremium": { - "answers": [ - "The difference in value between something's use as money and its value for its other uses", - "An extra fee added to the price of goods and services", - "A monetary premium has nothing to do with paying extra for things" - ], - "feedback": [ - "Congratulations! You know your stuff when it comes to monetary premiums. A monetary premium is the additional value that something can have when it is used as a substitute for money. Good job", - "Sorry, wrong answer! A monetary premium has nothing to do with paying extra for things", - "Nope! A monetary premium is not a discount, it's actually the opposite." - ], - "question": "What is a monetary premium", - "text": "If the value of money is not based on its scarcity, it may not be as reliable as a way to store wealth. In this case, other things that are scarce, such as assets or resources, may become more valuable and be used as a substitute for money.\n\nThis additional value is known as a monetary premium. When the usual form of money is not working well, people may turn to other things that are rare or hard to obtain as a way to exchange value.\n\nSome historical forms of money had no other use or value besides being used as a way to trade for other things. The difference between the value of something as money and its value for its other uses is the monetary premium.\n", - "title": "What is a monetary premium" - } - } + "screen": "monetaryPremium", + "answers": [ + "The difference in value between something's use as money and its value for its other uses", + "An extra fee added to the price of goods and services", + "A monetary premium has nothing to do with paying extra for things" + ], + "feedback": [ + "Congratulations! You know your stuff when it comes to monetary premiums. A monetary premium is the additional value that something can have when it is used as a substitute for money. Good job", + "Sorry, wrong answer! A monetary premium has nothing to do with paying extra for things", + "Nope! A monetary premium is not a discount, it's actually the opposite." + ], + "question": "What is a monetary premium", + "text": "If the value of money is not based on its scarcity, it may not be as reliable as a way to store wealth. In this case, other things that are scarce, such as assets or resources, may become more valuable and be used as a substitute for money.\n\nThis additional value is known as a monetary premium. When the usual form of money is not working well, people may turn to other things that are rare or hard to obtain as a way to exchange value.\n\nSome historical forms of money had no other use or value besides being used as a way to trade for other things. The difference between the value of something as money and its value for its other uses is the monetary premium.\n", + "title": "What is a monetary premium" } } diff --git a/chapter-601-bitcoin-and-economics-i/601.03-lesson-greshams-law.json b/chapter-601-bitcoin-and-economics-i/601.03-lesson-greshams-law.json index ef080b8..758e8ec 100644 --- a/chapter-601-bitcoin-and-economics-i/601.03-lesson-greshams-law.json +++ b/chapter-601-bitcoin-and-economics-i/601.03-lesson-greshams-law.json @@ -1,22 +1,18 @@ { "greshamsLaw": { - "title": "Gresham's Law", - "questions": { - "greshamsLaw": { - "answers": [ - "A law that explains how people tend to use different types of currency in different ways when they are in circulation together", - "A law that says people will always choose to spend the more valuable currency when given a choice", - "Gresham's Law actually explains the opposite behavior" - ], - "feedback": [ - "Good job, you understood Gresham's Law. This law explains how people tend to save the more valuable currency and spend the less valuable one when given the choice. Interesting fact: Gresham's Law can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver", - "Sorry, wrong answer! Gresham's Law actually explains the opposite behavior", - "Ha! That's a funny answer, but unfortunately it's not correct." - ], - "question": "What is Gresham's Law", - "text": "Gresham's Law is a concept that explains how people tend to use different types of currency in different ways when they are in circulation together.\n\nIf two forms of currency are given equal value by a government or other authority, but one is made of a more valuable material, people will be more likely to save the more valuable currency and spend the less valuable one.\n\nThis can happen when a government debases its currency, or makes it worth less, by decreasing the amount of valuable material it contains. The result is that people lose trust in the debased currency and prefer to hold onto the more valuable one instead.\n\nThis principle can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver, if the supply of the currency is increased in a way that makes it worth less.\n\nIn recent years, the emergence of bitcoin as a digital currency has led to a trend of people saving in bitcoin and spending their traditional currency, or \"fiat,\" more quickly. This is because bitcoin is seen as having a higher long-term value and being more stable than fiat currencies.\n", - "title": "What is Gresham's Law" - } - } + "screen": "greshamsLaw", + "answers": [ + "A law that explains how people tend to use different types of currency in different ways when they are in circulation together", + "A law that says people will always choose to spend the more valuable currency when given a choice", + "Gresham's Law actually explains the opposite behavior" + ], + "feedback": [ + "Good job, you understood Gresham's Law. This law explains how people tend to save the more valuable currency and spend the less valuable one when given the choice. Interesting fact: Gresham's Law can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver", + "Sorry, wrong answer! Gresham's Law actually explains the opposite behavior", + "Ha! That's a funny answer, but unfortunately it's not correct." + ], + "question": "What is Gresham's Law", + "text": "Gresham's Law is a concept that explains how people tend to use different types of currency in different ways when they are in circulation together.\n\nIf two forms of currency are given equal value by a government or other authority, but one is made of a more valuable material, people will be more likely to save the more valuable currency and spend the less valuable one.\n\nThis can happen when a government debases its currency, or makes it worth less, by decreasing the amount of valuable material it contains. The result is that people lose trust in the debased currency and prefer to hold onto the more valuable one instead.\n\nThis principle can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver, if the supply of the currency is increased in a way that makes it worth less.\n\nIn recent years, the emergence of bitcoin as a digital currency has led to a trend of people saving in bitcoin and spending their traditional currency, or \"fiat,\" more quickly. This is because bitcoin is seen as having a higher long-term value and being more stable than fiat currencies.\n", + "title": "What is Gresham's Law" } } diff --git a/chapter-601-bitcoin-and-economics-i/601.04-lesson-thiers-law.json b/chapter-601-bitcoin-and-economics-i/601.04-lesson-thiers-law.json index 5cb861e..35b6238 100644 --- a/chapter-601-bitcoin-and-economics-i/601.04-lesson-thiers-law.json +++ b/chapter-601-bitcoin-and-economics-i/601.04-lesson-thiers-law.json @@ -1,22 +1,18 @@ { "thiersLaw": { - "title": "Thier's Law", - "questions": { - "thiersLaw": { - "answers": [ - "A law that discusses what might happen if people and businesses refuse to accept or use a lower quality form of currency", - "A law that says people will always choose the more valuable currency when given a choice", - "A law that says people will always choose the less valuable currency when given a choice" - ], - "feedback": [ - "Correct! Good job, you understood Thier's Law. This law discusses what might happen if people and businesses refuse to accept a lower quality form of currency. Interesting fact: Thier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored", - "Wrong answer! Gresham's Law explains this behavior, not Thier's Law", - "Sorry, try again! Thier's Law is not about always choosing the less valuable currency." - ], - "question": "What is Thier's Law", - "text": "Thier's Law is a concept that discusses what might happen if people and businesses refused to accept or use a lower quality form of currency.\n\nInstead of disappearing from circulation, the higher quality form of money might be traded at a premium, or for a higher value than its face value.\n\nThier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored.\n\nIn other words, people and businesses may choose not to accept the lower quality currency and instead prefer to use the higher quality one or other forms of payment.\n", - "title": "What is Thier's Law" - } - } + "screen": "thiersLaw", + "answers": [ + "A law that discusses what might happen if people and businesses refuse to accept or use a lower quality form of currency", + "A law that says people will always choose the more valuable currency when given a choice", + "A law that says people will always choose the less valuable currency when given a choice" + ], + "feedback": [ + "Correct! Good job, you understood Thier's Law. This law discusses what might happen if people and businesses refuse to accept a lower quality form of currency. Interesting fact: Thier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored", + "Wrong answer! Gresham's Law explains this behavior, not Thier's Law", + "Sorry, try again! Thier's Law is not about always choosing the less valuable currency." + ], + "question": "What is Thier's Law", + "text": "Thier's Law is a concept that discusses what might happen if people and businesses refused to accept or use a lower quality form of currency.\n\nInstead of disappearing from circulation, the higher quality form of money might be traded at a premium, or for a higher value than its face value.\n\nThier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored.\n\nIn other words, people and businesses may choose not to accept the lower quality currency and instead prefer to use the higher quality one or other forms of payment.\n", + "title": "What is Thier's Law" } } diff --git a/chapter-601-bitcoin-and-economics-i/601.05-lesson-cantillon-effect.json b/chapter-601-bitcoin-and-economics-i/601.05-lesson-cantillon-effect.json index 97e9ad1..e84d947 100644 --- a/chapter-601-bitcoin-and-economics-i/601.05-lesson-cantillon-effect.json +++ b/chapter-601-bitcoin-and-economics-i/601.05-lesson-cantillon-effect.json @@ -1,22 +1,18 @@ { "cantillonEffect": { - "title": "The **** Cantillon Effect", - "questions": { - "cantillonEffect": { - "answers": [ - "A phenomenon that occurs when new money is introduced into an economy, causing some prices to increase more than others and leading to an uneven distribution of wealth.", - "A mysterious force that causes people to turn into cantaloupes whenever they eat too much fruit.", - "A dance move that involves spinning around in circles while holding a bunch of cantaloupes." - ], - "feedback": [ - "Congratulations, you are correct! The Cantillon Effect is indeed a process that can influence the distribution of wealth in an economy. Good job", - "Sorry, but the Cantillon Effect doesn't have anything to do with fruit transformation. Better luck next time", - "Sorry, but the Cantillon Effect is not a dance move, no matter how much you love cantaloupes. Better luck next time!" - ], - "question": "What is the Cantillon Effect", - "text": "The Cantillon Effect is a phenomenon that occurs when new money is introduced into an economy.\n\nWhen new money is added, it tends to go to certain people or businesses first, and these initial recipients have an advantage over others because they get to use the new money before prices go up.\n\nThis causes the prices of some goods and services to increase more than others, which means that the people who get the new money first benefit while those who get it later are disadvantaged.\n\nThis effect was first described by economist Richard Cantillon in the context of commodity money, such as gold and silver, but it is even more relevant today in the age of fiat money.\n\nWhen a government or central bank creates a lot of new fiat money, it can lead to increased prices and uneven distribution of wealth, as some people and businesses are able to access credit more easily and benefit from rising asset prices.\n", - "title": "What is the Cantillon Effect" - } - } + "screen": "cantillonEffect", + "answers": [ + "A phenomenon that occurs when new money is introduced into an economy, causing some prices to increase more than others and leading to an uneven distribution of wealth.", + "A mysterious force that causes people to turn into cantaloupes whenever they eat too much fruit.", + "A dance move that involves spinning around in circles while holding a bunch of cantaloupes." + ], + "feedback": [ + "Congratulations, you are correct! The Cantillon Effect is indeed a process that can influence the distribution of wealth in an economy. Good job", + "Sorry, but the Cantillon Effect doesn't have anything to do with fruit transformation. Better luck next time", + "Sorry, but the Cantillon Effect is not a dance move, no matter how much you love cantaloupes. Better luck next time!" + ], + "question": "What is the Cantillon Effect", + "text": "The Cantillon Effect is a phenomenon that occurs when new money is introduced into an economy.\n\nWhen new money is added, it tends to go to certain people or businesses first, and these initial recipients have an advantage over others because they get to use the new money before prices go up.\n\nThis causes the prices of some goods and services to increase more than others, which means that the people who get the new money first benefit while those who get it later are disadvantaged.\n\nThis effect was first described by economist Richard Cantillon in the context of commodity money, such as gold and silver, but it is even more relevant today in the age of fiat money.\n\nWhen a government or central bank creates a lot of new fiat money, it can lead to increased prices and uneven distribution of wealth, as some people and businesses are able to access credit more easily and benefit from rising asset prices.\n", + "title": "What is the Cantillon Effect" } } diff --git a/chapter-601-bitcoin-and-economics-i/601.06-lesson-schelling-point.json b/chapter-601-bitcoin-and-economics-i/601.06-lesson-schelling-point.json index 90ec229..8c9ed26 100644 --- a/chapter-601-bitcoin-and-economics-i/601.06-lesson-schelling-point.json +++ b/chapter-601-bitcoin-and-economics-i/601.06-lesson-schelling-point.json @@ -1,22 +1,18 @@ { "schellingPoint": { - "title": "Schelling Point", - "questions": { - "schellingPoint": { - "answers": [ - "A solution that people tend to choose by default in the absence of communication", - "A type of point system used in online multiplayer games", - "A point on the earth's surface where all the planet's magnetic forces are balanced" - ], - "feedback": [ - "You got it right. Did you know that a Schelling point can occur in multiplayer cooperative games and communication networks, and can be facilitated by standardized protocols like money", - "Wrong! But at least you're thinking about points. Maybe try again and focus on communication this time", - "Ha! You're off by a whole planet. Maybe try again and focus on the concept of default choices in the absence of communication." - ], - "question": "What is a Schelling point", - "text": "A Schelling point is a solution that people tend to choose by default, without communicating with each other.\n\nThis can happen in multiplayer cooperative games, where you have to anticipate the choices of others. If you make the wrong choice, you might face consequences or miss out on benefits.\n\nCommunication works the same way - it's like a multiplayer cooperative game played with others in the same network. We use standardized protocols (like email, spoken language, or money) to communicate efficiently with as many people as possible, with as little friction as possible. This can lead to increased trade, knowledge exchange, and innovation.\n\nIn the digital world, people tend to choose the same option (the Schelling point) when exchanging value. This is because they expect that others will also choose it.\n\nThe option that becomes the Schelling point is the one that communicates price signals most accurately, allowing market participants to coordinate with each other.\n\nBitcoin is a protocol for exchanging value that has several advantages over traditional currencies (called \"fiat\"). For example, it has a fixed supply and its value has generally increased over time, while fiat currencies often lose value. Additionally, the bitcoin network is permissionless, global, and indestructible. All of these factors make bitcoin a natural Schelling point for money.\n", - "title": "What is a Schelling point" - } - } + "screen": "schellingPoint", + "answers": [ + "A solution that people tend to choose by default in the absence of communication", + "A type of point system used in online multiplayer games", + "A point on the earth's surface where all the planet's magnetic forces are balanced" + ], + "feedback": [ + "You got it right. Did you know that a Schelling point can occur in multiplayer cooperative games and communication networks, and can be facilitated by standardized protocols like money", + "Wrong! But at least you're thinking about points. Maybe try again and focus on communication this time", + "Ha! You're off by a whole planet. Maybe try again and focus on the concept of default choices in the absence of communication." + ], + "question": "What is a Schelling point", + "text": "A Schelling point is a solution that people tend to choose by default, without communicating with each other.\n\nThis can happen in multiplayer cooperative games, where you have to anticipate the choices of others. If you make the wrong choice, you might face consequences or miss out on benefits.\n\nCommunication works the same way - it's like a multiplayer cooperative game played with others in the same network. We use standardized protocols (like email, spoken language, or money) to communicate efficiently with as many people as possible, with as little friction as possible. This can lead to increased trade, knowledge exchange, and innovation.\n\nIn the digital world, people tend to choose the same option (the Schelling point) when exchanging value. This is because they expect that others will also choose it.\n\nThe option that becomes the Schelling point is the one that communicates price signals most accurately, allowing market participants to coordinate with each other.\n\nBitcoin is a protocol for exchanging value that has several advantages over traditional currencies (called \"fiat\"). For example, it has a fixed supply and its value has generally increased over time, while fiat currencies often lose value. Additionally, the bitcoin network is permissionless, global, and indestructible. All of these factors make bitcoin a natural Schelling point for money.\n", + "title": "What is a Schelling point" } } diff --git a/chapter-602-bitcoin-and-economics-ii/602-combined.json b/chapter-602-bitcoin-and-economics-ii/602-combined.json index 47dde17..1c3c028 100644 --- a/chapter-602-bitcoin-and-economics-ii/602-combined.json +++ b/chapter-602-bitcoin-and-economics-ii/602-combined.json @@ -1,134 +1,97 @@ -[ - { - "opportunityCost": { - "title": "Opportunity Cost", - "questions": { - "opportunityCost": { - "answers": [ - "The cost of not being able to do something else when you choose to do one thing", - "A type of cost that only applies to business owners", - "The cost of buying a new car" - ], - "feedback": [ - "Congratulations! You got it right. Did you know that opportunity cost can help you make better financial decisions by considering the trade-offs involved in different options", - "Wrong! Opportunity cost applies to anyone who makes a choice, not just business owners. Maybe try again and think about the trade-offs involved in decision-making", - "Ha! That's not quite right. The cost of buying a new car is a specific type of expense, not the same thing as opportunity cost. Maybe try again and think about the concept of trade-offs in decision-making." - ], - "question": "What is opportunity cost", - "text": "Opportunity cost is the idea that when you choose to do one thing, you can't do something else instead. In other words, every time you make a financial decision, you have to trade off one option for another.\n\nBitcoin can help you make better financial decisions in the long term because it's a good way to store value (like saving money). This means that if you choose to invest in bitcoin, you might have to give up using that money for other things or opportunities. But if you hold onto your bitcoin, it has the potential to increase in value over time.\n\nThis is especially important right now because the traditional monetary system (called \"fiat\") is not a reliable way to save money - it's designed in a way that causes the value of money to go down over time. So, it's important to make careful financial decisions to preserve your wealth.\n", - "title": "What is opportunity cost" - } - } - } - }, - { - "timePreference": { - "title": "Time Preference", - "questions": { - "timePreference": { - "answers": [ - "The amount of value you place on the present versus the future", - "A preference for doing things at a specific time of day", - "A preference for traveling through time" - ], - "feedback": [ - "Congratulations! You got it right. Did you know that there are many factors that can influence your time preference, such as personal safety, tax rates, property rights, and the ability to store value reliably", - "Wrong! Time preference has to do with decision-making, not a specific time of day. Maybe try again and think about how the time horizon you're operating on can affect your choices", - "Ha! Time travel is still just science fiction, sorry. Maybe try again and think about how the time horizon you're operating on can affect your choices." - ], - "question": "What is time preference", - "text": "Time preference is the idea that the amount of time you have to wait for something to happen can affect the decisions you make.\n\nFor example, if you value the present more than the future, you might be more likely to choose something that gives you immediate gratification.\n\nOn the other hand, if you value the future more, you might be willing to wait longer for something that has a bigger benefit in the long term.\n\nThere are many factors that can influence your time preference, such as your personal safety, tax rates, property rights, and the ability to store value reliably.\n\nThe \"hardness\" of money (how well it holds its value over time) is also important because it can encourage people to save, plan, and invest for the future. It's important to note that time preference is not a fixed thing - it can change based on the incentives in your environment.\n", - "title": "What is time preference" - } - } - } - }, - { - "impossibleTrinity": { - "title": "The Impossible Trinity", - "questions": { - "impossibleTrinity": { - "answers": [ - "As perfectly mobile capital, Bitcoin alters the logic of sovereign nations to direct international monetary policy by making capital controls impossible to enforce.", - "Due to its fixed supply, the existence of Bitcoin makes it easier for sovereign nations to set fixed exchange rates.", - "Governments will restrict discussion of the Mundell-Fleming Trilemma because speech is easier to censor than cross-border payments." - ], - "feedback": [ - "enforce.", - "The 21 million cap is indeed quite fascinating, but the existence of Bitcoin actually makes it more difficult for nations to set fixed exchange rates. Try again", - "While that's entirely possible of course, that's not the most likeliest outcome here. Try again!" - ], - "question": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?", - "text": "The Impossible Trinity, also known as the Mundell-Fleming Trilemma, is a concept that explains the trade-offs involved in setting international monetary policy for a sovereign nation.\n\nIt says that a country can only choose two of the following three options: fixed exchange rates, free capital flows, and independent monetary policy.\n\n These three options cannot be pursued at the same time. This is because a country's capital flows, or the movement of money in and out of the country, can be influenced by the value of its currency and its monetary policy, which sets the rules for how much money is in circulation.\n\n As capital becomes more mobile and can move freely across borders, it is harder for a country to control and direct its capital flows. The rise of bitcoin, a digital currency that is borderless and immune to changes in value, may further challenge a country's ability to set monetary policy.\n", - "title": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?" - } - } - } - }, - { - "jevonsParadox": { - "title": "Jevons Paradox", - "questions": { - "jevonsParadox": { - "answers": [ - "The phenomenon of increased consumption of a resource due to increased efficiency", - "A type of fruit named after an economist", - "A paradox that states that the more we have of something, the less we want it" - ], - "feedback": [ - "Correct! Well done, you have a firm understanding of the Jevons Paradox. Fun fact: The phenomenon is named after William Stanley Jevons, an English economist who first described it in the 19th century", - "Wrong! Sorry, there is no such thing as a Jevons fruit. You'll have to find your sustenance elsewhere", - "Sorry, that's not quite right. The Jevons Paradox actually states that increased efficiency can lead to increased consumption, not decreased desire for a resource. But hey, at least you're thinking paradoxically!" - ], - "question": "What is the Jevons Paradox", - "text": "The Jevons Paradox is a phenomenon that occurs when we use more of a resource, even when we are using it more efficiently. This happens because increased efficiency often leads to lower costs, which can increase demand for the resource.\n\nOne example of this is the use of coal as an energy source. In the late 1700s, people thought that coal deposits were running out, but James Watt's steam engine made it possible to use coal more efficiently. This led to an increase in the demand for coal, even though it was being used more efficiently. The relationship between energy and money is also important to consider.\n\nSome people have proposed using energy as a measure of value for money, but this has not been successful in practice. Bitcoin, on the other hand, uses a system called proof of work, which incentivizes people to use energy efficiently in order to earn rewards.\n\nWhile some people criticize the use of energy in this way, it is important to remember that humans are constantly finding new ways to generate energy, and we should not assume that energy is a fixed or limited resource.\n", - "title": "What is the Jevons Paradox" - } - } - } - }, - { - "powerLaws": { - "title": "Power Laws", - "questions": { - "powerLaws": { - "answers": [ - "A power law in economics", - "A type of pasta dish", - "A way to fold laundry" - ], - "feedback": [ - "Good job! The Pareto principle, also known as the 80/20 rule, is a power law that explains how a small amount of something (like 20% of producers) can have a big impact (like 80% of the market share).", - "Sorry, but it looks like you need to brush up on your economics and not your culinary skills. The Pareto principle is not a type of pasta, although it might be a tasty way to remember it", - "I'm afraid you're going to have to put away the laundry and pay a little more attention to economics. The Pareto principle is not a way to fold clothes, but it is a useful way to understand how small changes in one thing can lead to bigger changes in another." - ], - "question": "What is the Pareto principle, also known as the 80/20 rule, an example of", - "text": "Power laws are a way to understand how two things are related. When one thing changes, the other thing changes in a way that is related to the first change. Power laws can show up in different areas, like language, biology, and space. Small changes in one thing can often lead to bigger changes in the other thing.\n\nIn economics, power laws are often shown in graphs. One example of a power law is the Pareto principle, which says that about 80% of the results come from 20% of the things that cause them. In a market, this might mean that 20% of the producers make up 80% of the market.\n\nPower laws can also be seen in other parts of bitcoin, like how much power mining pools have or how many hardware wallets different companies sell. They can also be seen in how bitcoin is distributed among different addresses.\n", - "title": "What is the Pareto principle, also known as the 80/20 rule, an example of" - } - } - } - }, - { - "winnerTakeAll": { - "title": "Winner-Take-All Effects", - "questions": { - "winnerTakeAll": { - "answers": [ - "Because it is the most liquid and the best way to store value", - "Because it tastes the best", - "Because it has the prettiest color" - ], - "feedback": [ - "You got it right. The main reason that people usually agree on using one type of money in a certain area is because it is the most liquid and the best way to store value", - "I'm afraid you might be confusing money with your favorite flavor of ice cream. Try again", - "Sorry, but the color of money is not the most important factor in determining which type to use. Better luck next time!" - ], - "question": "What is the main reason that people usually agree on using one type of money in a certain area", - "text": "The concept of winner-take-all effects is when only one product or service is the best and everyone wants to use it. This can happen in markets where a small advantage can lead to getting all of the business.\n\nMoney is a network like this, where only one type of money is used in a certain area because it is the most useful and has the most options for trading with other people. This happens because people want to use the money that will give them the most options and be the most useful in a lot of different situations.\n\nMoney is also a good way to store value over a long time. When it comes to monetary systems, people usually agree on using one type of money because it is the most liquid, or easiest to use, and it is the best way to store value.\n", - "title": "What is the main reason that people usually agree on using one type of money in a certain area" - } +{ + "BitcoinandEconomicsII": { + "title": "Bitcoin and Economics II", + "questions": { + "opportunityCost": { + "answers": [ + "The cost of not being able to do something else when you choose to do one thing", + "A type of cost that only applies to business owners", + "The cost of buying a new car" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that opportunity cost can help you make better financial decisions by considering the trade-offs involved in different options", + "Wrong! Opportunity cost applies to anyone who makes a choice, not just business owners. Maybe try again and think about the trade-offs involved in decision-making", + "Ha! That's not quite right. The cost of buying a new car is a specific type of expense, not the same thing as opportunity cost. Maybe try again and think about the concept of trade-offs in decision-making." + ], + "question": "What is opportunity cost", + "text": "Opportunity cost is the idea that when you choose to do one thing, you can't do something else instead. In other words, every time you make a financial decision, you have to trade off one option for another.\n\nBitcoin can help you make better financial decisions in the long term because it's a good way to store value (like saving money). This means that if you choose to invest in bitcoin, you might have to give up using that money for other things or opportunities. But if you hold onto your bitcoin, it has the potential to increase in value over time.\n\nThis is especially important right now because the traditional monetary system (called \"fiat\") is not a reliable way to save money - it's designed in a way that causes the value of money to go down over time. So, it's important to make careful financial decisions to preserve your wealth.\n", + "title": "What is opportunity cost" + }, + "timePreference": { + "answers": [ + "The amount of value you place on the present versus the future", + "A preference for doing things at a specific time of day", + "A preference for traveling through time" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that there are many factors that can influence your time preference, such as personal safety, tax rates, property rights, and the ability to store value reliably", + "Wrong! Time preference has to do with decision-making, not a specific time of day. Maybe try again and think about how the time horizon you're operating on can affect your choices", + "Ha! Time travel is still just science fiction, sorry. Maybe try again and think about how the time horizon you're operating on can affect your choices." + ], + "question": "What is time preference", + "text": "Time preference is the idea that the amount of time you have to wait for something to happen can affect the decisions you make.\n\nFor example, if you value the present more than the future, you might be more likely to choose something that gives you immediate gratification.\n\nOn the other hand, if you value the future more, you might be willing to wait longer for something that has a bigger benefit in the long term.\n\nThere are many factors that can influence your time preference, such as your personal safety, tax rates, property rights, and the ability to store value reliably.\n\nThe \"hardness\" of money (how well it holds its value over time) is also important because it can encourage people to save, plan, and invest for the future. It's important to note that time preference is not a fixed thing - it can change based on the incentives in your environment.\n", + "title": "What is time preference" + }, + "impossibleTrinity": { + "answers": [ + "As perfectly mobile capital, Bitcoin alters the logic of sovereign nations to direct international monetary policy by making capital controls impossible to enforce.", + "Due to its fixed supply, the existence of Bitcoin makes it easier for sovereign nations to set fixed exchange rates.", + "Governments will restrict discussion of the Mundell-Fleming Trilemma because speech is easier to censor than cross-border payments." + ], + "feedback": [ + "enforce.", + "The 21 million cap is indeed quite fascinating, but the existence of Bitcoin actually makes it more difficult for nations to set fixed exchange rates. Try again", + "While that's entirely possible of course, that's not the most likeliest outcome here. Try again!" + ], + "question": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?", + "text": "The Impossible Trinity, also known as the Mundell-Fleming Trilemma, is a concept that explains the trade-offs involved in setting international monetary policy for a sovereign nation.\n\nIt says that a country can only choose two of the following three options: fixed exchange rates, free capital flows, and independent monetary policy.\n\n These three options cannot be pursued at the same time. This is because a country's capital flows, or the movement of money in and out of the country, can be influenced by the value of its currency and its monetary policy, which sets the rules for how much money is in circulation.\n\n As capital becomes more mobile and can move freely across borders, it is harder for a country to control and direct its capital flows. The rise of bitcoin, a digital currency that is borderless and immune to changes in value, may further challenge a country's ability to set monetary policy.\n", + "title": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?" + }, + "jevonsParadox": { + "answers": [ + "The phenomenon of increased consumption of a resource due to increased efficiency", + "A type of fruit named after an economist", + "A paradox that states that the more we have of something, the less we want it" + ], + "feedback": [ + "Correct! Well done, you have a firm understanding of the Jevons Paradox. Fun fact: The phenomenon is named after William Stanley Jevons, an English economist who first described it in the 19th century", + "Wrong! Sorry, there is no such thing as a Jevons fruit. You'll have to find your sustenance elsewhere", + "Sorry, that's not quite right. The Jevons Paradox actually states that increased efficiency can lead to increased consumption, not decreased desire for a resource. But hey, at least you're thinking paradoxically!" + ], + "question": "What is the Jevons Paradox", + "text": "The Jevons Paradox is a phenomenon that occurs when we use more of a resource, even when we are using it more efficiently. This happens because increased efficiency often leads to lower costs, which can increase demand for the resource.\n\nOne example of this is the use of coal as an energy source. In the late 1700s, people thought that coal deposits were running out, but James Watt's steam engine made it possible to use coal more efficiently. This led to an increase in the demand for coal, even though it was being used more efficiently. The relationship between energy and money is also important to consider.\n\nSome people have proposed using energy as a measure of value for money, but this has not been successful in practice. Bitcoin, on the other hand, uses a system called proof of work, which incentivizes people to use energy efficiently in order to earn rewards.\n\nWhile some people criticize the use of energy in this way, it is important to remember that humans are constantly finding new ways to generate energy, and we should not assume that energy is a fixed or limited resource.\n", + "title": "What is the Jevons Paradox" + }, + "powerLaws": { + "answers": [ + "A power law in economics", + "A type of pasta dish", + "A way to fold laundry" + ], + "feedback": [ + "Good job! The Pareto principle, also known as the 80/20 rule, is a power law that explains how a small amount of something (like 20% of producers) can have a big impact (like 80% of the market share).", + "Sorry, but it looks like you need to brush up on your economics and not your culinary skills. The Pareto principle is not a type of pasta, although it might be a tasty way to remember it", + "I'm afraid you're going to have to put away the laundry and pay a little more attention to economics. The Pareto principle is not a way to fold clothes, but it is a useful way to understand how small changes in one thing can lead to bigger changes in another." + ], + "question": "What is the Pareto principle, also known as the 80/20 rule, an example of", + "text": "Power laws are a way to understand how two things are related. When one thing changes, the other thing changes in a way that is related to the first change. Power laws can show up in different areas, like language, biology, and space. Small changes in one thing can often lead to bigger changes in the other thing.\n\nIn economics, power laws are often shown in graphs. One example of a power law is the Pareto principle, which says that about 80% of the results come from 20% of the things that cause them. In a market, this might mean that 20% of the producers make up 80% of the market.\n\nPower laws can also be seen in other parts of bitcoin, like how much power mining pools have or how many hardware wallets different companies sell. They can also be seen in how bitcoin is distributed among different addresses.\n", + "title": "What is the Pareto principle, also known as the 80/20 rule, an example of" + }, + "winnerTakeAll": { + "answers": [ + "Because it is the most liquid and the best way to store value", + "Because it tastes the best", + "Because it has the prettiest color" + ], + "feedback": [ + "You got it right. The main reason that people usually agree on using one type of money in a certain area is because it is the most liquid and the best way to store value", + "I'm afraid you might be confusing money with your favorite flavor of ice cream. Try again", + "Sorry, but the color of money is not the most important factor in determining which type to use. Better luck next time!" + ], + "question": "What is the main reason that people usually agree on using one type of money in a certain area", + "text": "The concept of winner-take-all effects is when only one product or service is the best and everyone wants to use it. This can happen in markets where a small advantage can lead to getting all of the business.\n\nMoney is a network like this, where only one type of money is used in a certain area because it is the most useful and has the most options for trading with other people. This happens because people want to use the money that will give them the most options and be the most useful in a lot of different situations.\n\nMoney is also a good way to store value over a long time. When it comes to monetary systems, people usually agree on using one type of money because it is the most liquid, or easiest to use, and it is the best way to store value.\n", + "title": "What is the main reason that people usually agree on using one type of money in a certain area" } } } -] +} diff --git a/chapter-602-bitcoin-and-economics-ii/602.01-lesson-opportunity-cost.json b/chapter-602-bitcoin-and-economics-ii/602.01-lesson-opportunity-cost.json index 7846326..95cae53 100644 --- a/chapter-602-bitcoin-and-economics-ii/602.01-lesson-opportunity-cost.json +++ b/chapter-602-bitcoin-and-economics-ii/602.01-lesson-opportunity-cost.json @@ -1,22 +1,18 @@ { "opportunityCost": { - "title": "Opportunity Cost", - "questions": { - "opportunityCost": { - "answers": [ - "The cost of not being able to do something else when you choose to do one thing", - "A type of cost that only applies to business owners", - "The cost of buying a new car" - ], - "feedback": [ - "Congratulations! You got it right. Did you know that opportunity cost can help you make better financial decisions by considering the trade-offs involved in different options", - "Wrong! Opportunity cost applies to anyone who makes a choice, not just business owners. Maybe try again and think about the trade-offs involved in decision-making", - "Ha! That's not quite right. The cost of buying a new car is a specific type of expense, not the same thing as opportunity cost. Maybe try again and think about the concept of trade-offs in decision-making." - ], - "question": "What is opportunity cost", - "text": "Opportunity cost is the idea that when you choose to do one thing, you can't do something else instead. In other words, every time you make a financial decision, you have to trade off one option for another.\n\nBitcoin can help you make better financial decisions in the long term because it's a good way to store value (like saving money). This means that if you choose to invest in bitcoin, you might have to give up using that money for other things or opportunities. But if you hold onto your bitcoin, it has the potential to increase in value over time.\n\nThis is especially important right now because the traditional monetary system (called \"fiat\") is not a reliable way to save money - it's designed in a way that causes the value of money to go down over time. So, it's important to make careful financial decisions to preserve your wealth.\n", - "title": "What is opportunity cost" - } - } + "screen": "opportunityCost", + "answers": [ + "The cost of not being able to do something else when you choose to do one thing", + "A type of cost that only applies to business owners", + "The cost of buying a new car" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that opportunity cost can help you make better financial decisions by considering the trade-offs involved in different options", + "Wrong! Opportunity cost applies to anyone who makes a choice, not just business owners. Maybe try again and think about the trade-offs involved in decision-making", + "Ha! That's not quite right. The cost of buying a new car is a specific type of expense, not the same thing as opportunity cost. Maybe try again and think about the concept of trade-offs in decision-making." + ], + "question": "What is opportunity cost", + "text": "Opportunity cost is the idea that when you choose to do one thing, you can't do something else instead. In other words, every time you make a financial decision, you have to trade off one option for another.\n\nBitcoin can help you make better financial decisions in the long term because it's a good way to store value (like saving money). This means that if you choose to invest in bitcoin, you might have to give up using that money for other things or opportunities. But if you hold onto your bitcoin, it has the potential to increase in value over time.\n\nThis is especially important right now because the traditional monetary system (called \"fiat\") is not a reliable way to save money - it's designed in a way that causes the value of money to go down over time. So, it's important to make careful financial decisions to preserve your wealth.\n", + "title": "What is opportunity cost" } } diff --git a/chapter-602-bitcoin-and-economics-ii/602.02-lesson-time-preference.json b/chapter-602-bitcoin-and-economics-ii/602.02-lesson-time-preference.json index 69ac58d..d07d2f4 100644 --- a/chapter-602-bitcoin-and-economics-ii/602.02-lesson-time-preference.json +++ b/chapter-602-bitcoin-and-economics-ii/602.02-lesson-time-preference.json @@ -1,22 +1,18 @@ { "timePreference": { - "title": "Time Preference", - "questions": { - "timePreference": { - "answers": [ - "The amount of value you place on the present versus the future", - "A preference for doing things at a specific time of day", - "A preference for traveling through time" - ], - "feedback": [ - "Congratulations! You got it right. Did you know that there are many factors that can influence your time preference, such as personal safety, tax rates, property rights, and the ability to store value reliably", - "Wrong! Time preference has to do with decision-making, not a specific time of day. Maybe try again and think about how the time horizon you're operating on can affect your choices", - "Ha! Time travel is still just science fiction, sorry. Maybe try again and think about how the time horizon you're operating on can affect your choices." - ], - "question": "What is time preference", - "text": "Time preference is the idea that the amount of time you have to wait for something to happen can affect the decisions you make.\n\nFor example, if you value the present more than the future, you might be more likely to choose something that gives you immediate gratification.\n\nOn the other hand, if you value the future more, you might be willing to wait longer for something that has a bigger benefit in the long term.\n\nThere are many factors that can influence your time preference, such as your personal safety, tax rates, property rights, and the ability to store value reliably.\n\nThe \"hardness\" of money (how well it holds its value over time) is also important because it can encourage people to save, plan, and invest for the future. It's important to note that time preference is not a fixed thing - it can change based on the incentives in your environment.\n", - "title": "What is time preference" - } - } + "screen": "timePreference", + "answers": [ + "The amount of value you place on the present versus the future", + "A preference for doing things at a specific time of day", + "A preference for traveling through time" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that there are many factors that can influence your time preference, such as personal safety, tax rates, property rights, and the ability to store value reliably", + "Wrong! Time preference has to do with decision-making, not a specific time of day. Maybe try again and think about how the time horizon you're operating on can affect your choices", + "Ha! Time travel is still just science fiction, sorry. Maybe try again and think about how the time horizon you're operating on can affect your choices." + ], + "question": "What is time preference", + "text": "Time preference is the idea that the amount of time you have to wait for something to happen can affect the decisions you make.\n\nFor example, if you value the present more than the future, you might be more likely to choose something that gives you immediate gratification.\n\nOn the other hand, if you value the future more, you might be willing to wait longer for something that has a bigger benefit in the long term.\n\nThere are many factors that can influence your time preference, such as your personal safety, tax rates, property rights, and the ability to store value reliably.\n\nThe \"hardness\" of money (how well it holds its value over time) is also important because it can encourage people to save, plan, and invest for the future. It's important to note that time preference is not a fixed thing - it can change based on the incentives in your environment.\n", + "title": "What is time preference" } } diff --git a/chapter-602-bitcoin-and-economics-ii/602.03-lesson-impossible-trinity.json b/chapter-602-bitcoin-and-economics-ii/602.03-lesson-impossible-trinity.json index e575315..1d1148a 100644 --- a/chapter-602-bitcoin-and-economics-ii/602.03-lesson-impossible-trinity.json +++ b/chapter-602-bitcoin-and-economics-ii/602.03-lesson-impossible-trinity.json @@ -1,22 +1,18 @@ { "impossibleTrinity": { - "title": "The Impossible Trinity", - "questions": { - "impossibleTrinity": { - "answers": [ - "As perfectly mobile capital, Bitcoin alters the logic of sovereign nations to direct international monetary policy by making capital controls impossible to enforce.", - "Due to its fixed supply, the existence of Bitcoin makes it easier for sovereign nations to set fixed exchange rates.", - "Governments will restrict discussion of the Mundell-Fleming Trilemma because speech is easier to censor than cross-border payments." - ], - "feedback": [ - "enforce.", - "The 21 million cap is indeed quite fascinating, but the existence of Bitcoin actually makes it more difficult for nations to set fixed exchange rates. Try again", - "While that's entirely possible of course, that's not the most likeliest outcome here. Try again!" - ], - "question": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?", - "text": "The Impossible Trinity, also known as the Mundell-Fleming Trilemma, is a concept that explains the trade-offs involved in setting international monetary policy for a sovereign nation.\n\nIt says that a country can only choose two of the following three options: fixed exchange rates, free capital flows, and independent monetary policy.\n\n These three options cannot be pursued at the same time. This is because a country's capital flows, or the movement of money in and out of the country, can be influenced by the value of its currency and its monetary policy, which sets the rules for how much money is in circulation.\n\n As capital becomes more mobile and can move freely across borders, it is harder for a country to control and direct its capital flows. The rise of bitcoin, a digital currency that is borderless and immune to changes in value, may further challenge a country's ability to set monetary policy.\n", - "title": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?" - } - } + "screen": "impossibleTrinity", + "answers": [ + "As perfectly mobile capital, Bitcoin alters the logic of sovereign nations to direct international monetary policy by making capital controls impossible to enforce.", + "Due to its fixed supply, the existence of Bitcoin makes it easier for sovereign nations to set fixed exchange rates.", + "Governments will restrict discussion of the Mundell-Fleming Trilemma because speech is easier to censor than cross-border payments." + ], + "feedback": [ + "enforce.", + "The 21 million cap is indeed quite fascinating, but the existence of Bitcoin actually makes it more difficult for nations to set fixed exchange rates. Try again", + "While that's entirely possible of course, that's not the most likeliest outcome here. Try again!" + ], + "question": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?", + "text": "The Impossible Trinity, also known as the Mundell-Fleming Trilemma, is a concept that explains the trade-offs involved in setting international monetary policy for a sovereign nation.\n\nIt says that a country can only choose two of the following three options: fixed exchange rates, free capital flows, and independent monetary policy.\n\n These three options cannot be pursued at the same time. This is because a country's capital flows, or the movement of money in and out of the country, can be influenced by the value of its currency and its monetary policy, which sets the rules for how much money is in circulation.\n\n As capital becomes more mobile and can move freely across borders, it is harder for a country to control and direct its capital flows. The rise of bitcoin, a digital currency that is borderless and immune to changes in value, may further challenge a country's ability to set monetary policy.\n", + "title": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?" } } diff --git a/chapter-602-bitcoin-and-economics-ii/602.04-lesson-jevons-paradox.json b/chapter-602-bitcoin-and-economics-ii/602.04-lesson-jevons-paradox.json index ef47580..107b6e8 100644 --- a/chapter-602-bitcoin-and-economics-ii/602.04-lesson-jevons-paradox.json +++ b/chapter-602-bitcoin-and-economics-ii/602.04-lesson-jevons-paradox.json @@ -1,22 +1,18 @@ { "jevonsParadox": { - "title": "Jevons Paradox", - "questions": { - "jevonsParadox": { - "answers": [ - "The phenomenon of increased consumption of a resource due to increased efficiency", - "A type of fruit named after an economist", - "A paradox that states that the more we have of something, the less we want it" - ], - "feedback": [ - "Correct! Well done, you have a firm understanding of the Jevons Paradox. Fun fact: The phenomenon is named after William Stanley Jevons, an English economist who first described it in the 19th century", - "Wrong! Sorry, there is no such thing as a Jevons fruit. You'll have to find your sustenance elsewhere", - "Sorry, that's not quite right. The Jevons Paradox actually states that increased efficiency can lead to increased consumption, not decreased desire for a resource. But hey, at least you're thinking paradoxically!" - ], - "question": "What is the Jevons Paradox", - "text": "The Jevons Paradox is a phenomenon that occurs when we use more of a resource, even when we are using it more efficiently. This happens because increased efficiency often leads to lower costs, which can increase demand for the resource.\n\nOne example of this is the use of coal as an energy source. In the late 1700s, people thought that coal deposits were running out, but James Watt's steam engine made it possible to use coal more efficiently. This led to an increase in the demand for coal, even though it was being used more efficiently. The relationship between energy and money is also important to consider.\n\nSome people have proposed using energy as a measure of value for money, but this has not been successful in practice. Bitcoin, on the other hand, uses a system called proof of work, which incentivizes people to use energy efficiently in order to earn rewards.\n\nWhile some people criticize the use of energy in this way, it is important to remember that humans are constantly finding new ways to generate energy, and we should not assume that energy is a fixed or limited resource.\n", - "title": "What is the Jevons Paradox" - } - } + "screen": "jevonsParadox", + "answers": [ + "The phenomenon of increased consumption of a resource due to increased efficiency", + "A type of fruit named after an economist", + "A paradox that states that the more we have of something, the less we want it" + ], + "feedback": [ + "Correct! Well done, you have a firm understanding of the Jevons Paradox. Fun fact: The phenomenon is named after William Stanley Jevons, an English economist who first described it in the 19th century", + "Wrong! Sorry, there is no such thing as a Jevons fruit. You'll have to find your sustenance elsewhere", + "Sorry, that's not quite right. The Jevons Paradox actually states that increased efficiency can lead to increased consumption, not decreased desire for a resource. But hey, at least you're thinking paradoxically!" + ], + "question": "What is the Jevons Paradox", + "text": "The Jevons Paradox is a phenomenon that occurs when we use more of a resource, even when we are using it more efficiently. This happens because increased efficiency often leads to lower costs, which can increase demand for the resource.\n\nOne example of this is the use of coal as an energy source. In the late 1700s, people thought that coal deposits were running out, but James Watt's steam engine made it possible to use coal more efficiently. This led to an increase in the demand for coal, even though it was being used more efficiently. The relationship between energy and money is also important to consider.\n\nSome people have proposed using energy as a measure of value for money, but this has not been successful in practice. Bitcoin, on the other hand, uses a system called proof of work, which incentivizes people to use energy efficiently in order to earn rewards.\n\nWhile some people criticize the use of energy in this way, it is important to remember that humans are constantly finding new ways to generate energy, and we should not assume that energy is a fixed or limited resource.\n", + "title": "What is the Jevons Paradox" } } diff --git a/chapter-602-bitcoin-and-economics-ii/602.05-lesson-powerlaws.json b/chapter-602-bitcoin-and-economics-ii/602.05-lesson-powerlaws.json index ffeb513..e6015bb 100644 --- a/chapter-602-bitcoin-and-economics-ii/602.05-lesson-powerlaws.json +++ b/chapter-602-bitcoin-and-economics-ii/602.05-lesson-powerlaws.json @@ -1,22 +1,18 @@ { "powerLaws": { - "title": "Power Laws", - "questions": { - "powerLaws": { - "answers": [ - "A power law in economics", - "A type of pasta dish", - "A way to fold laundry" - ], - "feedback": [ - "Good job! The Pareto principle, also known as the 80/20 rule, is a power law that explains how a small amount of something (like 20% of producers) can have a big impact (like 80% of the market share).", - "Sorry, but it looks like you need to brush up on your economics and not your culinary skills. The Pareto principle is not a type of pasta, although it might be a tasty way to remember it", - "I'm afraid you're going to have to put away the laundry and pay a little more attention to economics. The Pareto principle is not a way to fold clothes, but it is a useful way to understand how small changes in one thing can lead to bigger changes in another." - ], - "question": "What is the Pareto principle, also known as the 80/20 rule, an example of", - "text": "Power laws are a way to understand how two things are related. When one thing changes, the other thing changes in a way that is related to the first change. Power laws can show up in different areas, like language, biology, and space. Small changes in one thing can often lead to bigger changes in the other thing.\n\nIn economics, power laws are often shown in graphs. One example of a power law is the Pareto principle, which says that about 80% of the results come from 20% of the things that cause them. In a market, this might mean that 20% of the producers make up 80% of the market.\n\nPower laws can also be seen in other parts of bitcoin, like how much power mining pools have or how many hardware wallets different companies sell. They can also be seen in how bitcoin is distributed among different addresses.\n", - "title": "What is the Pareto principle, also known as the 80/20 rule, an example of" - } - } + "screen": "powerLaws", + "answers": [ + "A power law in economics", + "A type of pasta dish", + "A way to fold laundry" + ], + "feedback": [ + "Good job! The Pareto principle, also known as the 80/20 rule, is a power law that explains how a small amount of something (like 20% of producers) can have a big impact (like 80% of the market share).", + "Sorry, but it looks like you need to brush up on your economics and not your culinary skills. The Pareto principle is not a type of pasta, although it might be a tasty way to remember it", + "I'm afraid you're going to have to put away the laundry and pay a little more attention to economics. The Pareto principle is not a way to fold clothes, but it is a useful way to understand how small changes in one thing can lead to bigger changes in another." + ], + "question": "What is the Pareto principle, also known as the 80/20 rule, an example of", + "text": "Power laws are a way to understand how two things are related. When one thing changes, the other thing changes in a way that is related to the first change. Power laws can show up in different areas, like language, biology, and space. Small changes in one thing can often lead to bigger changes in the other thing.\n\nIn economics, power laws are often shown in graphs. One example of a power law is the Pareto principle, which says that about 80% of the results come from 20% of the things that cause them. In a market, this might mean that 20% of the producers make up 80% of the market.\n\nPower laws can also be seen in other parts of bitcoin, like how much power mining pools have or how many hardware wallets different companies sell. They can also be seen in how bitcoin is distributed among different addresses.\n", + "title": "What is the Pareto principle, also known as the 80/20 rule, an example of" } } diff --git a/chapter-602-bitcoin-and-economics-ii/602.06-lesson-winner-wake-all.json b/chapter-602-bitcoin-and-economics-ii/602.06-lesson-winner-wake-all.json index 9aecc7b..b86d70d 100644 --- a/chapter-602-bitcoin-and-economics-ii/602.06-lesson-winner-wake-all.json +++ b/chapter-602-bitcoin-and-economics-ii/602.06-lesson-winner-wake-all.json @@ -1,22 +1,18 @@ { "winnerTakeAll": { - "title": "Winner-Take-All Effects", - "questions": { - "winnerTakeAll": { - "answers": [ - "Because it is the most liquid and the best way to store value", - "Because it tastes the best", - "Because it has the prettiest color" - ], - "feedback": [ - "You got it right. The main reason that people usually agree on using one type of money in a certain area is because it is the most liquid and the best way to store value", - "I'm afraid you might be confusing money with your favorite flavor of ice cream. Try again", - "Sorry, but the color of money is not the most important factor in determining which type to use. Better luck next time!" - ], - "question": "What is the main reason that people usually agree on using one type of money in a certain area", - "text": "The concept of winner-take-all effects is when only one product or service is the best and everyone wants to use it. This can happen in markets where a small advantage can lead to getting all of the business.\n\nMoney is a network like this, where only one type of money is used in a certain area because it is the most useful and has the most options for trading with other people. This happens because people want to use the money that will give them the most options and be the most useful in a lot of different situations.\n\nMoney is also a good way to store value over a long time. When it comes to monetary systems, people usually agree on using one type of money because it is the most liquid, or easiest to use, and it is the best way to store value.\n", - "title": "What is the main reason that people usually agree on using one type of money in a certain area" - } - } + "screen": "winnerTakeAll", + "answers": [ + "Because it is the most liquid and the best way to store value", + "Because it tastes the best", + "Because it has the prettiest color" + ], + "feedback": [ + "You got it right. The main reason that people usually agree on using one type of money in a certain area is because it is the most liquid and the best way to store value", + "I'm afraid you might be confusing money with your favorite flavor of ice cream. Try again", + "Sorry, but the color of money is not the most important factor in determining which type to use. Better luck next time!" + ], + "question": "What is the main reason that people usually agree on using one type of money in a certain area", + "text": "The concept of winner-take-all effects is when only one product or service is the best and everyone wants to use it. This can happen in markets where a small advantage can lead to getting all of the business.\n\nMoney is a network like this, where only one type of money is used in a certain area because it is the most useful and has the most options for trading with other people. This happens because people want to use the money that will give them the most options and be the most useful in a lot of different situations.\n\nMoney is also a good way to store value over a long time. When it comes to monetary systems, people usually agree on using one type of money because it is the most liquid, or easiest to use, and it is the best way to store value.\n", + "title": "What is the main reason that people usually agree on using one type of money in a certain area" } } diff --git a/chapter-603-bitcoin-and-economics-iii/603-combined.json b/chapter-603-bitcoin-and-economics-iii/603-combined.json index de5e8a2..dcc1492 100644 --- a/chapter-603-bitcoin-and-economics-iii/603-combined.json +++ b/chapter-603-bitcoin-and-economics-iii/603-combined.json @@ -1,112 +1,82 @@ -[ - { - "unitBias": { - "title": "Unit Bias", - "questions": { - "unitBias": { - "answers": [ - "The belief that one unit of something is always the right amount to use when comparing it to other things", - "The belief that one type of currency is better than all others", - "The belief that all units of something should be the same size" - ], - "feedback": [ - "Yep! Unit bias is the belief that one unit of something is always the right amount to use when comparing it to other things. However, this is not always true and can lead to faulty reasoning. Good job", - "I'm afraid you're mistaken. Unit bias is not about believing that one type of currency is better than all others. Maybe you should stick to counting your coins instead of trying to determine the value of currency", - "Sorry, but unit bias is not about the size of units. Don't worry, though – you can still have fun with different sizes of units by playing with building blocks or LEGO bricks." - ], - "question": "What is unit bias", - "text": "Unit bias is a type of thinking that assumes that one unit of something is the right amount to use when comparing it to other things.\n\nThis is not always true, especially when it comes to bitcoin. To understand how bitcoin compares to other stores of value, you need to look at the total amount of bitcoin that is available and its value, not just the price of one unit. Bitcoin is very small and can be divided into very small amounts, down to 8 decimal places. This means that you can buy a very small part of a bitcoin if you want.\n\nPeople sometimes think that other cryptocurrencies are cheaper than bitcoin because they cost less per unit, but this is not always true. Bitcoin is a special type of digital money because it is limited in supply and cannot be made in larger amounts.\n\nThis makes it a good way to store value because the value does not decrease over time. When you look at bitcoin in this way, you can see that it is just a small part of the total amount of non-government wealth in the world.\n", - "title": "What is unit bias" - } - } - } - }, - { - "veblenGood": { - "title": "Veblen Good", - "questions": { - "veblenGood": { - "answers": [ - "A type of good that people want more of when the price goes up", - "A type of food that tastes better when it is expensive", - "A type of good that people want more of when they have more money to spend" - ], - "feedback": [ - "Exactly! A Veblen good is a type of good that people want more of when the price goes up. This is unusual because most people want things more when they have more money to spend", - "I'm sorry, but a Veblen good is not a type of food. Maybe you should stick to eating your favorite foods instead of trying to understand economics", - "I'm afraid you're mistaken. A Veblen good is not a type of good that people want more of when they have more money to spend. Maybe you should pay more attention to economics instead of just spending your money!" - ], - "question": "What is a Veblen good", - "text": "Veblen goods are things that people want more of when the price goes up. Normal goods are things that people usually want more of when they have more money to spend.\n\nVeblen goods are unusual because people want them more when they cost more. These are often luxury goods that are hard to get or that are made in limited quantities. This is done to make them seem special or rare.\n\nSome people might want to buy bitcoin because it is a status symbol, but the main reason people will probably want to buy it is because there is a limited amount of it.\n\nWhen more people want to buy bitcoin, the price goes up and it becomes easier to use. When it is easy to use, more people want to use it. This creates a cycle where the demand for bitcoin increases, the price goes up, and it becomes easier to use.\n", - "title": "What is a Veblen good" - } - } - } - }, - { - "malinvestment": { - "title": "Malinvestment", - "questions": { - "malinvestment": { - "answers": [ - "Distorted price signals", - "Aliens from outer space", - "A lack of unicorns in the economy" - ], - "feedback": [ - "Correct answer! You're on the right track. When prices are not accurate, it can lead to money being put into things that are not very productive. Good job", - "Wrong answer! But at least you're thinking outside the box. Maybe the aliens are controlling the price signals from their spaceship... or maybe not. Better luck next time", - "Sorry, but unicorns do not have the power to control the economy. Although, it would be pretty cool if they did. Better luck next time." - ], - "question": "What is the main cause of malinvestment", - "text": "Malinvestment is when the prices of things are not accurate, which leads to money being put into things that are not very productive. This happens because it is hard to predict the future and make good choices about what to do with money.\n\nWhen the market is not working correctly, it is like trying to use a compass when you are not sure where you are. An example of this is when companies can't pay back their loans and have to borrow more money just to stay alive. This is like being a \"zombie\" company.\n\nWhen the government is in charge of these decisions, they might make mistakes because they don't have a good way to tell what is a good investment and what is not. This can lead to things like building a subway without enough trains or building a dam without enough power lines.\n", - "title": "What is the main cause of malinvestment" - } - } - } - }, - { - "asymmetricPayoff": { - "title": "Asymmetric Payoff", - "questions": { - "asymmetricPayoff": { - "answers": [ - "When the potential upside is disproportionately greater than the downside risk", - "When the potential upside and downside are equal", - "When the potential upside is a talking llama and the downside is a mute giraffe" - ], - "feedback": [ - "Correct answer! You got it! An asymmetric payoff means that the potential for gain is much greater than the potential for loss. Good job", - "Wrong answer! An asymmetric payoff means that the potential for gain or loss is uneven, not equal. Better luck next time", - "Wrong answer! While a talking llama and mute giraffe might make for an interesting investment, they do not define an asymmetric payoff. Better luck next time." - ], - "question": "What is an asymmetric payoff in the context of investment decisions", - "text": "When we make decisions about investing our money, we try to predict what might happen and how much money we could make or lose. Sometimes, the amount of money we can make or lose is not equal.\n\nFor example, if we invest in something that has a big chance of making us a lot of money, but only a small chance of losing a little bit of money, we might call this an \"asymmetric payoff.\" This means that the potential upside (how much we can make) is much bigger than the potential downside (how much we can lose).\n\nOne example of this is bitcoin. Bitcoin's potential outcomes are similar to an option, meaning it either succeeds or fails. If it experiences a catastrophic event, the risk of losing money is minimized.\n\nHowever, the potential upside is much greater, as bitcoin's total addressable market has the potential to be a primary global store of wealth.\n\nAsymmetry in payoffs, or uneven potential outcomes, only occurs when there is uneven understanding or information about an investment. If everyone fully understood bitcoin, it would already be widely used as a form of currency.\n\nCurrently, not everyone is aware of bitcoin's potential as a superior monetary option, so the potential for it to increase in value depends on the demand for it increasing without a corresponding increase in the supply.\n", - "title": "What is an asymmetric payoff in the context of investment decisions" - } - } - } - }, - { - "ansoffMatrix": { - "title": "Ansoff Matrix", - "questions": { - "ansoffMatrix": { - "answers": [ - "It helps identify potential growth strategies for the bitcoin protocol", - "It helps determine the optimal temperature for storing bitcoin", - "It helps calculate the potential return on investment for bitcoin mining operations" - ], - "feedback": [ - "Correct answer! You got it! The Ansoff Matrix can be used to outline growth strategies for the bitcoin protocol, such as developing and selling it to different markets. Good job", - "Nope! Storage temperature for bitcoin private keys is not a real issue, and it is not related to the Ansoff Matrix. Better luck next time", - "Wrong answer! While calculating potential returns on investment is important for bitcoin miners, it is not directly related to the Ansoff Matrix. Better luck next time." - ], - "question": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin", - "text": "The Ansoff Matrix is a tool that helps companies think about how they can grow and make more money. It helps them figure out what to do with a product or service they have, and how to sell it to different groups of people.\n\nIn the case of bitcoin, it is a product that is like a type of digital money. It has the potential to be used by a lot of people in a lot of different ways. The people who work on bitcoin, like the people who write the code and help others understand how to use it, are trying to increase the number of people who use it and make it easier for them to do so.\n\nBitcoin can be used to save money and protect it from being taken away, or it can be used to send and receive small amounts of money quickly, without having to go through a lot of steps. As more people start using bitcoin, it has the potential to grow and become more popular.\n\nIt is also possible for people and companies to use bitcoin as part of their financial plans, to help protect their money from losing value. While the main reason people might use bitcoin now is to protect their wealth, the payment use case has been growing fast since the inception of the Lightning Network and other use cases may emerge.\n", - "title": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin" - } +{ + "BitcoinandEconomicsIII": { + "title": "Bitcoin and Economics III", + "questions": { + "unitBias": { + "answers": [ + "The belief that one unit of something is always the right amount to use when comparing it to other things", + "The belief that one type of currency is better than all others", + "The belief that all units of something should be the same size" + ], + "feedback": [ + "Yep! Unit bias is the belief that one unit of something is always the right amount to use when comparing it to other things. However, this is not always true and can lead to faulty reasoning. Good job", + "I'm afraid you're mistaken. Unit bias is not about believing that one type of currency is better than all others. Maybe you should stick to counting your coins instead of trying to determine the value of currency", + "Sorry, but unit bias is not about the size of units. Don't worry, though – you can still have fun with different sizes of units by playing with building blocks or LEGO bricks." + ], + "question": "What is unit bias", + "text": "Unit bias is a type of thinking that assumes that one unit of something is the right amount to use when comparing it to other things.\n\nThis is not always true, especially when it comes to bitcoin. To understand how bitcoin compares to other stores of value, you need to look at the total amount of bitcoin that is available and its value, not just the price of one unit. Bitcoin is very small and can be divided into very small amounts, down to 8 decimal places. This means that you can buy a very small part of a bitcoin if you want.\n\nPeople sometimes think that other cryptocurrencies are cheaper than bitcoin because they cost less per unit, but this is not always true. Bitcoin is a special type of digital money because it is limited in supply and cannot be made in larger amounts.\n\nThis makes it a good way to store value because the value does not decrease over time. When you look at bitcoin in this way, you can see that it is just a small part of the total amount of non-government wealth in the world.\n", + "title": "What is unit bias" + }, + "veblenGood": { + "answers": [ + "A type of good that people want more of when the price goes up", + "A type of food that tastes better when it is expensive", + "A type of good that people want more of when they have more money to spend" + ], + "feedback": [ + "Exactly! A Veblen good is a type of good that people want more of when the price goes up. This is unusual because most people want things more when they have more money to spend", + "I'm sorry, but a Veblen good is not a type of food. Maybe you should stick to eating your favorite foods instead of trying to understand economics", + "I'm afraid you're mistaken. A Veblen good is not a type of good that people want more of when they have more money to spend. Maybe you should pay more attention to economics instead of just spending your money!" + ], + "question": "What is a Veblen good", + "text": "Veblen goods are things that people want more of when the price goes up. Normal goods are things that people usually want more of when they have more money to spend.\n\nVeblen goods are unusual because people want them more when they cost more. These are often luxury goods that are hard to get or that are made in limited quantities. This is done to make them seem special or rare.\n\nSome people might want to buy bitcoin because it is a status symbol, but the main reason people will probably want to buy it is because there is a limited amount of it.\n\nWhen more people want to buy bitcoin, the price goes up and it becomes easier to use. When it is easy to use, more people want to use it. This creates a cycle where the demand for bitcoin increases, the price goes up, and it becomes easier to use.\n", + "title": "What is a Veblen good" + }, + "malinvestment": { + "answers": [ + "Distorted price signals", + "Aliens from outer space", + "A lack of unicorns in the economy" + ], + "feedback": [ + "Correct answer! You're on the right track. When prices are not accurate, it can lead to money being put into things that are not very productive. Good job", + "Wrong answer! But at least you're thinking outside the box. Maybe the aliens are controlling the price signals from their spaceship... or maybe not. Better luck next time", + "Sorry, but unicorns do not have the power to control the economy. Although, it would be pretty cool if they did. Better luck next time." + ], + "question": "What is the main cause of malinvestment", + "text": "Malinvestment is when the prices of things are not accurate, which leads to money being put into things that are not very productive. This happens because it is hard to predict the future and make good choices about what to do with money.\n\nWhen the market is not working correctly, it is like trying to use a compass when you are not sure where you are. An example of this is when companies can't pay back their loans and have to borrow more money just to stay alive. This is like being a \"zombie\" company.\n\nWhen the government is in charge of these decisions, they might make mistakes because they don't have a good way to tell what is a good investment and what is not. This can lead to things like building a subway without enough trains or building a dam without enough power lines.\n", + "title": "What is the main cause of malinvestment" + }, + "asymmetricPayoff": { + "answers": [ + "When the potential upside is disproportionately greater than the downside risk", + "When the potential upside and downside are equal", + "When the potential upside is a talking llama and the downside is a mute giraffe" + ], + "feedback": [ + "Correct answer! You got it! An asymmetric payoff means that the potential for gain is much greater than the potential for loss. Good job", + "Wrong answer! An asymmetric payoff means that the potential for gain or loss is uneven, not equal. Better luck next time", + "Wrong answer! While a talking llama and mute giraffe might make for an interesting investment, they do not define an asymmetric payoff. Better luck next time." + ], + "question": "What is an asymmetric payoff in the context of investment decisions", + "text": "When we make decisions about investing our money, we try to predict what might happen and how much money we could make or lose. Sometimes, the amount of money we can make or lose is not equal.\n\nFor example, if we invest in something that has a big chance of making us a lot of money, but only a small chance of losing a little bit of money, we might call this an \"asymmetric payoff.\" This means that the potential upside (how much we can make) is much bigger than the potential downside (how much we can lose).\n\nOne example of this is bitcoin. Bitcoin's potential outcomes are similar to an option, meaning it either succeeds or fails. If it experiences a catastrophic event, the risk of losing money is minimized.\n\nHowever, the potential upside is much greater, as bitcoin's total addressable market has the potential to be a primary global store of wealth.\n\nAsymmetry in payoffs, or uneven potential outcomes, only occurs when there is uneven understanding or information about an investment. If everyone fully understood bitcoin, it would already be widely used as a form of currency.\n\nCurrently, not everyone is aware of bitcoin's potential as a superior monetary option, so the potential for it to increase in value depends on the demand for it increasing without a corresponding increase in the supply.\n", + "title": "What is an asymmetric payoff in the context of investment decisions" + }, + "ansoffMatrix": { + "answers": [ + "It helps identify potential growth strategies for the bitcoin protocol", + "It helps determine the optimal temperature for storing bitcoin", + "It helps calculate the potential return on investment for bitcoin mining operations" + ], + "feedback": [ + "Correct answer! You got it! The Ansoff Matrix can be used to outline growth strategies for the bitcoin protocol, such as developing and selling it to different markets. Good job", + "Nope! Storage temperature for bitcoin private keys is not a real issue, and it is not related to the Ansoff Matrix. Better luck next time", + "Wrong answer! While calculating potential returns on investment is important for bitcoin miners, it is not directly related to the Ansoff Matrix. Better luck next time." + ], + "question": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin", + "text": "The Ansoff Matrix is a tool that helps companies think about how they can grow and make more money. It helps them figure out what to do with a product or service they have, and how to sell it to different groups of people.\n\nIn the case of bitcoin, it is a product that is like a type of digital money. It has the potential to be used by a lot of people in a lot of different ways. The people who work on bitcoin, like the people who write the code and help others understand how to use it, are trying to increase the number of people who use it and make it easier for them to do so.\n\nBitcoin can be used to save money and protect it from being taken away, or it can be used to send and receive small amounts of money quickly, without having to go through a lot of steps. As more people start using bitcoin, it has the potential to grow and become more popular.\n\nIt is also possible for people and companies to use bitcoin as part of their financial plans, to help protect their money from losing value. While the main reason people might use bitcoin now is to protect their wealth, the payment use case has been growing fast since the inception of the Lightning Network and other use cases may emerge.\n", + "title": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin" } } } -] +} diff --git a/chapter-603-bitcoin-and-economics-iii/603.01-lesson-unit-bias.json b/chapter-603-bitcoin-and-economics-iii/603.01-lesson-unit-bias.json index ee335b1..7cb6497 100644 --- a/chapter-603-bitcoin-and-economics-iii/603.01-lesson-unit-bias.json +++ b/chapter-603-bitcoin-and-economics-iii/603.01-lesson-unit-bias.json @@ -1,22 +1,18 @@ { "unitBias": { - "title": "Unit Bias", - "questions": { - "unitBias": { - "answers": [ - "The belief that one unit of something is always the right amount to use when comparing it to other things", - "The belief that one type of currency is better than all others", - "The belief that all units of something should be the same size" - ], - "feedback": [ - "Yep! Unit bias is the belief that one unit of something is always the right amount to use when comparing it to other things. However, this is not always true and can lead to faulty reasoning. Good job", - "I'm afraid you're mistaken. Unit bias is not about believing that one type of currency is better than all others. Maybe you should stick to counting your coins instead of trying to determine the value of currency", - "Sorry, but unit bias is not about the size of units. Don't worry, though – you can still have fun with different sizes of units by playing with building blocks or LEGO bricks." - ], - "question": "What is unit bias", - "text": "Unit bias is a type of thinking that assumes that one unit of something is the right amount to use when comparing it to other things.\n\nThis is not always true, especially when it comes to bitcoin. To understand how bitcoin compares to other stores of value, you need to look at the total amount of bitcoin that is available and its value, not just the price of one unit. Bitcoin is very small and can be divided into very small amounts, down to 8 decimal places. This means that you can buy a very small part of a bitcoin if you want.\n\nPeople sometimes think that other cryptocurrencies are cheaper than bitcoin because they cost less per unit, but this is not always true. Bitcoin is a special type of digital money because it is limited in supply and cannot be made in larger amounts.\n\nThis makes it a good way to store value because the value does not decrease over time. When you look at bitcoin in this way, you can see that it is just a small part of the total amount of non-government wealth in the world.\n", - "title": "What is unit bias" - } - } + "screen": "unitBias", + "answers": [ + "The belief that one unit of something is always the right amount to use when comparing it to other things", + "The belief that one type of currency is better than all others", + "The belief that all units of something should be the same size" + ], + "feedback": [ + "Yep! Unit bias is the belief that one unit of something is always the right amount to use when comparing it to other things. However, this is not always true and can lead to faulty reasoning. Good job", + "I'm afraid you're mistaken. Unit bias is not about believing that one type of currency is better than all others. Maybe you should stick to counting your coins instead of trying to determine the value of currency", + "Sorry, but unit bias is not about the size of units. Don't worry, though – you can still have fun with different sizes of units by playing with building blocks or LEGO bricks." + ], + "question": "What is unit bias", + "text": "Unit bias is a type of thinking that assumes that one unit of something is the right amount to use when comparing it to other things.\n\nThis is not always true, especially when it comes to bitcoin. To understand how bitcoin compares to other stores of value, you need to look at the total amount of bitcoin that is available and its value, not just the price of one unit. Bitcoin is very small and can be divided into very small amounts, down to 8 decimal places. This means that you can buy a very small part of a bitcoin if you want.\n\nPeople sometimes think that other cryptocurrencies are cheaper than bitcoin because they cost less per unit, but this is not always true. Bitcoin is a special type of digital money because it is limited in supply and cannot be made in larger amounts.\n\nThis makes it a good way to store value because the value does not decrease over time. When you look at bitcoin in this way, you can see that it is just a small part of the total amount of non-government wealth in the world.\n", + "title": "What is unit bias" } } diff --git a/chapter-603-bitcoin-and-economics-iii/603.02-lesson-veblen-good.json b/chapter-603-bitcoin-and-economics-iii/603.02-lesson-veblen-good.json index 9706046..e62a089 100644 --- a/chapter-603-bitcoin-and-economics-iii/603.02-lesson-veblen-good.json +++ b/chapter-603-bitcoin-and-economics-iii/603.02-lesson-veblen-good.json @@ -1,22 +1,18 @@ { "veblenGood": { - "title": "Veblen Good", - "questions": { - "veblenGood": { - "answers": [ - "A type of good that people want more of when the price goes up", - "A type of food that tastes better when it is expensive", - "A type of good that people want more of when they have more money to spend" - ], - "feedback": [ - "Exactly! A Veblen good is a type of good that people want more of when the price goes up. This is unusual because most people want things more when they have more money to spend", - "I'm sorry, but a Veblen good is not a type of food. Maybe you should stick to eating your favorite foods instead of trying to understand economics", - "I'm afraid you're mistaken. A Veblen good is not a type of good that people want more of when they have more money to spend. Maybe you should pay more attention to economics instead of just spending your money!" - ], - "question": "What is a Veblen good", - "text": "Veblen goods are things that people want more of when the price goes up. Normal goods are things that people usually want more of when they have more money to spend.\n\nVeblen goods are unusual because people want them more when they cost more. These are often luxury goods that are hard to get or that are made in limited quantities. This is done to make them seem special or rare.\n\nSome people might want to buy bitcoin because it is a status symbol, but the main reason people will probably want to buy it is because there is a limited amount of it.\n\nWhen more people want to buy bitcoin, the price goes up and it becomes easier to use. When it is easy to use, more people want to use it. This creates a cycle where the demand for bitcoin increases, the price goes up, and it becomes easier to use.\n", - "title": "What is a Veblen good" - } - } + "screen": "veblenGood", + "answers": [ + "A type of good that people want more of when the price goes up", + "A type of food that tastes better when it is expensive", + "A type of good that people want more of when they have more money to spend" + ], + "feedback": [ + "Exactly! A Veblen good is a type of good that people want more of when the price goes up. This is unusual because most people want things more when they have more money to spend", + "I'm sorry, but a Veblen good is not a type of food. Maybe you should stick to eating your favorite foods instead of trying to understand economics", + "I'm afraid you're mistaken. A Veblen good is not a type of good that people want more of when they have more money to spend. Maybe you should pay more attention to economics instead of just spending your money!" + ], + "question": "What is a Veblen good", + "text": "Veblen goods are things that people want more of when the price goes up. Normal goods are things that people usually want more of when they have more money to spend.\n\nVeblen goods are unusual because people want them more when they cost more. These are often luxury goods that are hard to get or that are made in limited quantities. This is done to make them seem special or rare.\n\nSome people might want to buy bitcoin because it is a status symbol, but the main reason people will probably want to buy it is because there is a limited amount of it.\n\nWhen more people want to buy bitcoin, the price goes up and it becomes easier to use. When it is easy to use, more people want to use it. This creates a cycle where the demand for bitcoin increases, the price goes up, and it becomes easier to use.\n", + "title": "What is a Veblen good" } } diff --git a/chapter-603-bitcoin-and-economics-iii/603.03-lesson-malinvestment.json b/chapter-603-bitcoin-and-economics-iii/603.03-lesson-malinvestment.json index a25fab2..0288f87 100644 --- a/chapter-603-bitcoin-and-economics-iii/603.03-lesson-malinvestment.json +++ b/chapter-603-bitcoin-and-economics-iii/603.03-lesson-malinvestment.json @@ -1,22 +1,18 @@ { "malinvestment": { - "title": "Malinvestment", - "questions": { - "malinvestment": { - "answers": [ - "Distorted price signals", - "Aliens from outer space", - "A lack of unicorns in the economy" - ], - "feedback": [ - "Correct answer! You're on the right track. When prices are not accurate, it can lead to money being put into things that are not very productive. Good job", - "Wrong answer! But at least you're thinking outside the box. Maybe the aliens are controlling the price signals from their spaceship... or maybe not. Better luck next time", - "Sorry, but unicorns do not have the power to control the economy. Although, it would be pretty cool if they did. Better luck next time." - ], - "question": "What is the main cause of malinvestment", - "text": "Malinvestment is when the prices of things are not accurate, which leads to money being put into things that are not very productive. This happens because it is hard to predict the future and make good choices about what to do with money.\n\nWhen the market is not working correctly, it is like trying to use a compass when you are not sure where you are. An example of this is when companies can't pay back their loans and have to borrow more money just to stay alive. This is like being a \"zombie\" company.\n\nWhen the government is in charge of these decisions, they might make mistakes because they don't have a good way to tell what is a good investment and what is not. This can lead to things like building a subway without enough trains or building a dam without enough power lines.\n", - "title": "What is the main cause of malinvestment" - } - } + "screen": "malinvestment", + "answers": [ + "Distorted price signals", + "Aliens from outer space", + "A lack of unicorns in the economy" + ], + "feedback": [ + "Correct answer! You're on the right track. When prices are not accurate, it can lead to money being put into things that are not very productive. Good job", + "Wrong answer! But at least you're thinking outside the box. Maybe the aliens are controlling the price signals from their spaceship... or maybe not. Better luck next time", + "Sorry, but unicorns do not have the power to control the economy. Although, it would be pretty cool if they did. Better luck next time." + ], + "question": "What is the main cause of malinvestment", + "text": "Malinvestment is when the prices of things are not accurate, which leads to money being put into things that are not very productive. This happens because it is hard to predict the future and make good choices about what to do with money.\n\nWhen the market is not working correctly, it is like trying to use a compass when you are not sure where you are. An example of this is when companies can't pay back their loans and have to borrow more money just to stay alive. This is like being a \"zombie\" company.\n\nWhen the government is in charge of these decisions, they might make mistakes because they don't have a good way to tell what is a good investment and what is not. This can lead to things like building a subway without enough trains or building a dam without enough power lines.\n", + "title": "What is the main cause of malinvestment" } } diff --git a/chapter-603-bitcoin-and-economics-iii/603.04-lesson-asymmetric-payoff.json b/chapter-603-bitcoin-and-economics-iii/603.04-lesson-asymmetric-payoff.json index 6b34f91..b0cbcee 100644 --- a/chapter-603-bitcoin-and-economics-iii/603.04-lesson-asymmetric-payoff.json +++ b/chapter-603-bitcoin-and-economics-iii/603.04-lesson-asymmetric-payoff.json @@ -1,22 +1,18 @@ { "asymmetricPayoff": { - "title": "Asymmetric Payoff", - "questions": { - "asymmetricPayoff": { - "answers": [ - "When the potential upside is disproportionately greater than the downside risk", - "When the potential upside and downside are equal", - "When the potential upside is a talking llama and the downside is a mute giraffe" - ], - "feedback": [ - "Correct answer! You got it! An asymmetric payoff means that the potential for gain is much greater than the potential for loss. Good job", - "Wrong answer! An asymmetric payoff means that the potential for gain or loss is uneven, not equal. Better luck next time", - "Wrong answer! While a talking llama and mute giraffe might make for an interesting investment, they do not define an asymmetric payoff. Better luck next time." - ], - "question": "What is an asymmetric payoff in the context of investment decisions", - "text": "When we make decisions about investing our money, we try to predict what might happen and how much money we could make or lose. Sometimes, the amount of money we can make or lose is not equal.\n\nFor example, if we invest in something that has a big chance of making us a lot of money, but only a small chance of losing a little bit of money, we might call this an \"asymmetric payoff.\" This means that the potential upside (how much we can make) is much bigger than the potential downside (how much we can lose).\n\nOne example of this is bitcoin. Bitcoin's potential outcomes are similar to an option, meaning it either succeeds or fails. If it experiences a catastrophic event, the risk of losing money is minimized.\n\nHowever, the potential upside is much greater, as bitcoin's total addressable market has the potential to be a primary global store of wealth.\n\nAsymmetry in payoffs, or uneven potential outcomes, only occurs when there is uneven understanding or information about an investment. If everyone fully understood bitcoin, it would already be widely used as a form of currency.\n\nCurrently, not everyone is aware of bitcoin's potential as a superior monetary option, so the potential for it to increase in value depends on the demand for it increasing without a corresponding increase in the supply.\n", - "title": "What is an asymmetric payoff in the context of investment decisions" - } - } + "screen": "asymmetricPayoff", + "answers": [ + "When the potential upside is disproportionately greater than the downside risk", + "When the potential upside and downside are equal", + "When the potential upside is a talking llama and the downside is a mute giraffe" + ], + "feedback": [ + "Correct answer! You got it! An asymmetric payoff means that the potential for gain is much greater than the potential for loss. Good job", + "Wrong answer! An asymmetric payoff means that the potential for gain or loss is uneven, not equal. Better luck next time", + "Wrong answer! While a talking llama and mute giraffe might make for an interesting investment, they do not define an asymmetric payoff. Better luck next time." + ], + "question": "What is an asymmetric payoff in the context of investment decisions", + "text": "When we make decisions about investing our money, we try to predict what might happen and how much money we could make or lose. Sometimes, the amount of money we can make or lose is not equal.\n\nFor example, if we invest in something that has a big chance of making us a lot of money, but only a small chance of losing a little bit of money, we might call this an \"asymmetric payoff.\" This means that the potential upside (how much we can make) is much bigger than the potential downside (how much we can lose).\n\nOne example of this is bitcoin. Bitcoin's potential outcomes are similar to an option, meaning it either succeeds or fails. If it experiences a catastrophic event, the risk of losing money is minimized.\n\nHowever, the potential upside is much greater, as bitcoin's total addressable market has the potential to be a primary global store of wealth.\n\nAsymmetry in payoffs, or uneven potential outcomes, only occurs when there is uneven understanding or information about an investment. If everyone fully understood bitcoin, it would already be widely used as a form of currency.\n\nCurrently, not everyone is aware of bitcoin's potential as a superior monetary option, so the potential for it to increase in value depends on the demand for it increasing without a corresponding increase in the supply.\n", + "title": "What is an asymmetric payoff in the context of investment decisions" } } diff --git a/chapter-603-bitcoin-and-economics-iii/603.05-lesson-ansoff-matrix.json b/chapter-603-bitcoin-and-economics-iii/603.05-lesson-ansoff-matrix.json index 93ce5bb..d6d7e07 100644 --- a/chapter-603-bitcoin-and-economics-iii/603.05-lesson-ansoff-matrix.json +++ b/chapter-603-bitcoin-and-economics-iii/603.05-lesson-ansoff-matrix.json @@ -1,22 +1,18 @@ { "ansoffMatrix": { - "title": "Ansoff Matrix", - "questions": { - "ansoffMatrix": { - "answers": [ - "It helps identify potential growth strategies for the bitcoin protocol", - "It helps determine the optimal temperature for storing bitcoin", - "It helps calculate the potential return on investment for bitcoin mining operations" - ], - "feedback": [ - "Correct answer! You got it! The Ansoff Matrix can be used to outline growth strategies for the bitcoin protocol, such as developing and selling it to different markets. Good job", - "Nope! Storage temperature for bitcoin private keys is not a real issue, and it is not related to the Ansoff Matrix. Better luck next time", - "Wrong answer! While calculating potential returns on investment is important for bitcoin miners, it is not directly related to the Ansoff Matrix. Better luck next time." - ], - "question": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin", - "text": "The Ansoff Matrix is a tool that helps companies think about how they can grow and make more money. It helps them figure out what to do with a product or service they have, and how to sell it to different groups of people.\n\nIn the case of bitcoin, it is a product that is like a type of digital money. It has the potential to be used by a lot of people in a lot of different ways. The people who work on bitcoin, like the people who write the code and help others understand how to use it, are trying to increase the number of people who use it and make it easier for them to do so.\n\nBitcoin can be used to save money and protect it from being taken away, or it can be used to send and receive small amounts of money quickly, without having to go through a lot of steps. As more people start using bitcoin, it has the potential to grow and become more popular.\n\nIt is also possible for people and companies to use bitcoin as part of their financial plans, to help protect their money from losing value. While the main reason people might use bitcoin now is to protect their wealth, the payment use case has been growing fast since the inception of the Lightning Network and other use cases may emerge.\n", - "title": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin" - } - } + "screen": "ansoffMatrix", + "answers": [ + "It helps identify potential growth strategies for the bitcoin protocol", + "It helps determine the optimal temperature for storing bitcoin", + "It helps calculate the potential return on investment for bitcoin mining operations" + ], + "feedback": [ + "Correct answer! You got it! The Ansoff Matrix can be used to outline growth strategies for the bitcoin protocol, such as developing and selling it to different markets. Good job", + "Nope! Storage temperature for bitcoin private keys is not a real issue, and it is not related to the Ansoff Matrix. Better luck next time", + "Wrong answer! While calculating potential returns on investment is important for bitcoin miners, it is not directly related to the Ansoff Matrix. Better luck next time." + ], + "question": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin", + "text": "The Ansoff Matrix is a tool that helps companies think about how they can grow and make more money. It helps them figure out what to do with a product or service they have, and how to sell it to different groups of people.\n\nIn the case of bitcoin, it is a product that is like a type of digital money. It has the potential to be used by a lot of people in a lot of different ways. The people who work on bitcoin, like the people who write the code and help others understand how to use it, are trying to increase the number of people who use it and make it easier for them to do so.\n\nBitcoin can be used to save money and protect it from being taken away, or it can be used to send and receive small amounts of money quickly, without having to go through a lot of steps. As more people start using bitcoin, it has the potential to grow and become more popular.\n\nIt is also possible for people and companies to use bitcoin as part of their financial plans, to help protect their money from losing value. While the main reason people might use bitcoin now is to protect their wealth, the payment use case has been growing fast since the inception of the Lightning Network and other use cases may emerge.\n", + "title": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin" } } From e11c5be4535903d15a450b85d4fc935d1839e40c Mon Sep 17 00:00:00 2001 From: Lee Salminen Date: Wed, 11 Oct 2023 13:33:13 -0600 Subject: [PATCH 08/13] add SVG assets from @pretyflaco --- .gitbook/assets/svg/.DS_Store | Bin 0 -> 6148 bytes .../assets/svg/100-00-badger-shovel-01.svg | 82 + .../101-01-so-what-exactly-is-bitcoin-01.svg | 78 + .../svg/101-02-i-just-earned-a-sat-01.svg | 94 + .../101-03-where-do-the-bitcoins-exist-01.svg | 136 + .../svg/101-04-who-controls-Bitcoin-01.svg | 174 + .../svg/101-05-cant-copy-bitcoin-01.svg | 64 + .../102-01-money-is-a-social-agreement-01.svg | 108 + .../svg/102-02-coincidence-of-wants-01.svg | 67 + .../svg/102-03-money-has-evolved-01.svg | 154 + 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z+%a!ywHw}sf=d(t$m|~ii^Mf8KX~Selma{otxr?m|NN>~6hyjc4lZUSq9|?VtK#XIALVok?0>< zqMe&;Js?`RJ@GNbJ!^b>!rcw>gNSIHZPn;8giqodvGqe#*{RJ%p9w9;%@Q)d{#A#o z%B3Pw2q3#NfLcfue6T{Et-t8b0eF~4Py*I)?q%O(7epp9N%AN_{u7(sDu z`z`^9t>iJuktVy`7Ope9$0f0d_~`I!6R3PvKrnvNq=$6Q{Th{I|-aS#U-8 zh&GJ?)9ed`l>P{TcZ3Qxs~jU{Keu#$A2*5RKd^sUreH%Y>Y3E2c8+FKm%%UW;mFv$ z^!@@9nez*gTu3#H_uGq_YAlc`?{QA{EL4}YBf@aLi>`>hS4b{P3w``5r9p@1^J)Hc z4l<)p8%S6^6_GYqU%Tm+HXO1UY0dve$3M)W+6ms(qr3fHL073BDhNnctRc^!=$BK% zWX8;*FHAi7Sz_>$nz7w87F5>vvRlU-CS=f0!5g3%m>C}Gr0&sQ>hN%skGTt;^}sQG zo54g_EHgz#H3CX;M30W5U~K(ZVT*auAR!PdRi-n8dVvfBChs#2}J^i5pddGNpslM{#@!+RDrd7kR(f^Etl3LH*W>CZgDyE ztdCHHS}1vD%Y4Lw&^?wxpk61cy{K_bHU|H3YP!1Z{Nmh{ztrptm=)`RWL9|cJTlBk!_9t=5a7Onz&grTDW+8YGr-~Q}b~6 zPgqClpZ_mR>C Date: Thu, 12 Oct 2023 09:37:32 -0600 Subject: [PATCH 09/13] camel case --- bin/update-json.sh | 7 ++++++- 1 file changed, 6 insertions(+), 1 deletion(-) diff --git a/bin/update-json.sh b/bin/update-json.sh index d0e787e..02e84f8 100755 --- a/bin/update-json.sh +++ b/bin/update-json.sh @@ -25,7 +25,12 @@ find . -type d -path '*chapter*' | sort | while read dirname; do chapterfiles=$(find $dirname -type f -name '*.json' -not -name '*-combined.json' | sort) chaptermeta=$(find $dirname -type f -name 'README.md') chaptertitle=$(head -n 1 $chaptermeta | sed 's/#//g' | sed 's/Chapter [0-9][0-9][0-9] - //' | xargs) - chapterid=$(echo $chaptertitle | sed 's/ //g' | sed "s/[^[:alpha:]]//g") + + if [[ "$OSTYPE" == "linux-gnu"* ]]; then + chapterid=$(echo $chaptertitle | sed -e "s/\b\(.\)/\u\1/g" | sed "s/[^[:alpha:]]//g" | sed 's/ //g') + elif [[ "$OSTYPE" == "darwin"* ]]; then + chapterid=$(echo $chaptertitle | gsed -e "s/\b\(.\)/\u\1/g" | sed "s/[^[:alpha:]]//g" | sed 's/ //g') + fi jq -n '[ inputs[] | { (.screen|tostring): del(.screen) }]' $chapterfiles | jq --arg chaptertitle "$chaptertitle" --arg chapterid "$chapterid" '{ ($chapterid): { title: $chaptertitle, questions: (. |= add) } }' > $new_file done From db902e9fd52060fad57248d6b3a370999ab65e49 Mon Sep 17 00:00:00 2001 From: Lee Salminen Date: Thu, 12 Oct 2023 09:42:55 -0600 Subject: [PATCH 10/13] combine everything into a single output file --- bin/update-json.sh | 6 ++++++ 1 file changed, 6 insertions(+) diff --git a/bin/update-json.sh b/bin/update-json.sh index 02e84f8..0966ee6 100755 --- a/bin/update-json.sh +++ b/bin/update-json.sh @@ -34,3 +34,9 @@ find . -type d -path '*chapter*' | sort | while read dirname; do jq -n '[ inputs[] | { (.screen|tostring): del(.screen) }]' $chapterfiles | jq --arg chaptertitle "$chaptertitle" --arg chapterid "$chapterid" '{ ($chapterid): { title: $chaptertitle, questions: (. |= add) } }' > $new_file done + +allchapterfiles=$(find . -type f -name '*-combined.json' | sort) +combinedfile="./combined-output.json" + +jq -s add $allchapterfiles > $combinedfile +rm -f $allchapterfiles \ No newline at end of file From 1298339b110a2376c088fd303adb170509010165 Mon Sep 17 00:00:00 2001 From: Lee Salminen Date: Thu, 12 Oct 2023 09:43:46 -0600 Subject: [PATCH 11/13] new build output --- combined-output.json | 1912 ++++++++++++++++++++++++++++++++++++++++++ 1 file changed, 1912 insertions(+) create mode 100644 combined-output.json diff --git a/combined-output.json b/combined-output.json new file mode 100644 index 0000000..bc09219 --- /dev/null +++ b/combined-output.json @@ -0,0 +1,1912 @@ +{ + "BitcoinWhatIsIt": { + "title": "Bitcoin: What is it?", + "questions": { + "whatIsBitcoin": { + "answers": [ + "Digital Money", + "A video game", + "A new cartoon character" + ], + "feedback": [ + "Correct. You just earned 1 “sat”!", + "Incorrect, please try again.", + "Nope. At least not one that we know of!" + ], + "question": "So what exactly is Bitcoin", + "text": "Bitcoin is digital money. It can be transferred instantly and securely between any two people in the world — without the need for a bank or any other financial company in the middle.", + "title": "So what exactly is Bitcoin" + }, + "sat": { + "answers": [ + "The smallest unit of Bitcoin", + "A small satellite", + "A space cat 🐱🚀" + ], + "feedback": [ + "Correct. You just earned another two sats!!", + "Maybe… but that is not the correct answer in this context 🙂", + "Ummm.... not quite!" + ], + "question": "I just earned a “Sat\". What is that?", + "text": "One “Sat” is the smallest unit of a bitcoin. We all know that one US Dollar can be divided into 100 cents. Similarly, one Bitcoin can be divided into 100,000,000 sats. In fact, you do not need to own one whole bitcoin in order to use it. You can use bitcoin whether you have 20 sats, 3000 sats — or 100,000,000 sats (which you now know is equal to one bitcoin).\n", + "title": "I just earned a “Sat\". What is that?" + }, + "whereBitcoinExist": { + "answers": [ + "On the Internet", + "On the moon", + "In a Federal bank account" + ], + "feedback": [ + "Correct. You just earned another 5 sats.", + "Incorrect. Well… at least not yet ;)", + "Wrong. Please try again." + ], + "question": "Where do the bitcoins exist?", + "text": "Bitcoin is a new form of money. It can be used by anyone, anytime -- anywhere in the world. It is not tied to a specific government or region (like US Dollars). There are also no paper bills, metal coins or plastic cards. Everything is 100% digital. Bitcoin is a network of computers running on the internet. Your bitcoin is easily managed with software on your smartphone or computer!\n", + "title": "Where do the bitcoins exist?" + }, + "whoControlsBitcoin": { + "answers": [ + "A voluntary community of users around the world", + "Mr Burns from The Simpsons", + "The government of France" + ], + "feedback": [ + "That is right. Bitcoin is made possible by people all around the world running bitcoin software on their computers and smartphones.", + "An amusing thought — but not correct!", + "Wrong. There is no company nor government that controls Bitcoin." + ], + "question": "Who controls Bitcoin?", + "text": "Bitcoin is not controlled by any person, company or government. It is run by the community of users -- people and companies all around the world -- voluntarily running bitcoin software on their computers and smartphones.\n", + "title": "Who controls Bitcoin?" + }, + "copyBitcoin": { + "answers": [ + "No — it is impossible to copy or duplicate the value of bitcoin", + "Yes, you can copy bitcoins just as easily as copying a digital photo", + "Yes, but copying bitcoin requires very specialized computers" + ], + "feedback": [ + "copy or duplicate the value of bitcoin", + "You know that it is not true. Try again.", + "Incorrect. There is no way for anyone to copy, or create a duplicate, of bitcoin." + ], + "question": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", + "text": "The value of a bitcoin can never be copied. This is the very reason why Bitcoin is such a powerful new invention!! Most digital files — such as an iPhone photo, an MP3 song, or a Microsoft Word document — can easily be duplicated and shared. The Bitcoin software uniquely prevents the duplication — or “double spending” — of digital money. We will share exactly how this works later on!\n", + "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?" + } + } + }, + "WhatIsMoney": { + "title": "What is Money?", + "questions": { + "moneySocialAgreement": { + "answers": [ + "Because people trust that other people will value money similarly", + "Because your mother told you so", + "Because a dollar bill is worth its weight in gold" + ], + "feedback": [ + "Correct. This is what allows money to work!", + "She may well have. But that is not the correct answer here!", + "Nope. In the past you could exchange US dollars for gold. But this is no longer the case." + ], + "question": "Why does money have value?", + "text": "Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.\n", + "title": "Why does money have value?" + }, + "coincidenceOfWants": { + "answers": [ + "Coincidence of wants", + "Coincidence of day and night", + "Coincidence of the moon blocking the sun" + ], + "feedback": [ + "That is right. Money allows you to easily purchase something, without haggling about the form of payment", + "No silly, you know that is not the answer.", + "Not quite. We call that a solar eclipse 🌚" + ], + "question": "Which coincidence does money solve?", + "text": "Centuries ago, before people had money, they would barter -- or haggle over how to trade one unique item, in exchange for another item or service. Let’s say you wanted to have a meal at the local restaurant, and offered the owner a broom. The owner might say “no” -- but I will accept three hats instead, if you happen to have them. You can imagine how difficult and inefficient a “barter economy” would be! By contrast, with money, you can simply present a $20 bill. And you know that the restaurant owner will readily accept it.\n", + "title": "Which coincidence does money solve?" + }, + "moneyEvolution": { + "answers": [ + "Stones, seashells and gold", + "Tiny plastic Monopoly board game houses", + "Coins made of chocolate" + ], + "feedback": [ + "Correct. Items that are rare and difficult to copy have often been used as money.", + "Wrong. They may have value when playing a game -- but not in the real world!", + "Nope. They may be tasty. But they are not useful as money." + ], + "question": "What are some items that have been historically used as a unit of money?", + "text": "Thousands of years ago, a society in Micronesia used very large and scarce stones as a form of agreed currency. Starting in the 1500’s, rare Cowrie shells (found in the ocean) became commonly used in many nations as a form of money. And for millennia, gold has been used as a form of money for countries around the world -- including the United States (until 1971).\n", + "title": "What are some items that have been historically used as a unit of money?" + }, + "whyStonesShellGold": { + "answers": [ + "Because they have key characteristics -- such as being durable, uniform and divisible.", + "Because they are pretty and shiny.", + "Because they fit inside of your pocket" + ], + "feedback": [ + "Correct. More key characteristics include being scarce and portable.", + "Incorrect. That may be true, but alone are not great characteristics of money.", + "Not quite. Although these items were surely portable, that alone was not the reason to be used as money." + ], + "question": "Why were stones, seashells and gold used as units of money?", + "text": "Well, these items all had some -- but not all -- of the characteristics of good money.\n\n\n\nSo what characteristics make for “good” money?\nScarce: not abundant, nor easy to reproduce or copy\nAccepted: relatively easy for people to verify its authenticity\nDurable: easy to maintain, and does not perish or fall apart\nUniform: readily interchangeable with another item of the same form\nPortable: easy to transport\nDivisible: can be split and shared in smaller pieces\n", + "title": "Why were stones, seashells and gold used as units of money?" + }, + "moneyIsImportant": { + "answers": [ + "Money allows people to buy goods and services today -- and tomorrow.", + "Money allows you to go to the moon.", + "Money is the solution to all problems." + ], + "feedback": [ + "That is right!", + "Incorrect. Although that may change in the future ;)", + "Not quite. Although some people may believe such, this answer does not address the primary purpose of money." + ], + "question": "What is the primary reason money is important?", + "text": "Everybody knows that money matters.\n\n\nMost people exchange their time and energy -- in the form of work -- to obtain money. People do so, to be able to buy goods and services today -- and in the future.\n", + "title": "What is the primary reason money is important?" + }, + "moneyImportantGovernement": { + "answers": [ + "The US Central Bank (The Federal Reserve)", + "Mr Burns from The Simpsons", + "A guy with a printing press in his basement" + ], + "feedback": [ + "Correct. The US Government can print as much money as they want at any time.", + "Incorrect. Although it did seem like he always had a lot of money.", + "No. Whilst some people do create fake dollar bills, it is definitely not legal!" + ], + "question": "Who can legally print US Dollars, anytime they wish?", + "text": "Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.\n \n Accordingly, in most every nation, the government holds the power to issue and control money.\n\n\n In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.\n\n\n The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\n Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??\n", + "title": "Who can legally print US Dollars, anytime they wish?" + } + } + }, + "HowDoesMoneyWork": { + "title": "How Does Money Work?", + "questions": { + "WhatIsFiat": { + "answers": [ + "They are created by order of the National government in a given country.", + "By the manager of the local branch bank.", + "The Monopoly Money Man." + ], + "feedback": [ + "Correct. The central bank of a government creates fiat currencies.", + "Not quite. While local banks can give out loans based on credit and create money by doing so, they cannot create fiat currencies. Try again.", + "Nope. Try again!" + ], + "question": "Who creates fiat currencies, such as US Dollars or Swiss Francs?", + "text": "All national currencies in circulation today are called “fiat” money. This includes US Dollars, Japanese Yen, Swiss Francs, and so forth.\n\n\nThe word “fiat” is latin for “by decree” -- which means “by official order”.\n\n\nThis means that all fiat money -- including the US Dollar -- is simply created by the order of the national government.\n", + "title": "Who creates fiat currencies, such as US Dollars or Swiss Francs?" + }, + "whyCareAboutFiatMoney": { + "answers": [ + "All fiat currency is eventually abused by government authorities.", + "Local banks might not have enough vault space to hold all of the dollar bills.", + "There might not be enough trees to make paper for all of the additional dollar bills." + ], + "feedback": [ + "Correct. Throughout history, governments have been unable to resist the ability to print money, as they effectively have no obligation to repay this money.", + "Nope, that is certainly not the case.", + "Wrong. Please try again." + ], + "question": "Why should I care about the government controlling fiat money?", + "text": "As shared in a prior quiz, the US Central Bank is the Federal Reserve, or the “Fed”.\n\n\nThe Fed can print more dollars at any time -- and does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\nHaving control of money can be very tempting for authorities to abuse -- and often time leads to massive inflation, arbitrary confiscation and corruption.\n\n\nIn fact, Alan Greenspan, the famous former chairman of The Fed, famously said the US “can pay any debt that it has, because we can always print more to do that”.\n", + "title": "Why should I care about the government controlling fiat money?" + }, + "GovernementCanPrintMoney": { + "answers": [ + "The printing of additional money leads to inflation.", + "People must exchange old dollar bills at the bank every year.", + "The appearance of the dollar bill changes." + ], + "feedback": [ + "Correct. This means that goods and services will cost more in the future.", + "Nope. Older dollar bills are just as valid as newer ones.", + "Incorrect. Although the government may issue new looks for bills, this has nothing to do with increasing the money supply." + ], + "question": "What does it mean when the government prints money?", + "text": "Well, everybody should care!\n\n\nThe practice of government printing money -- or increasing the supply of dollars -- leads to inflation.\n\n\nInflation is an increase in the price of goods and services. In other words, the price for something in the future will be more expensive than today.\n\n\nSo what does inflation mean for citizens?\n\n\nIn the United Kingdom, the Pound Sterling has lost 99.5% of its value since being introduced over 300 years ago.\n\n\nIn the United States, the dollar has lost 97% of its value since the end of WWI, about 100 years ago.\n\n\nThis means a steak that cost $0.30 in 1920... was $3 in 1990… and about $15 today, in the year 2020!\n", + "title": "What does it mean when the government prints money?" + }, + "FiatLosesValueOverTime": { + "answers": [ + "Every fiat currency that ever existed has lost a massive amount of value.", + "The value stays the same forever.", + "The look and design of paper bills is updated every 10 years or so." + ], + "feedback": [ + "Correct. This is true even for USD, which has lost 97% of its value during the last 100 years.", + "Incorrect. Please try again.", + "Not quite. Although the design of papers bills may change, this has nothing to do with their value." + ], + "question": "What happens to the value of all fiat money over time?", + "text": "That is correct.\n\n\nIn the history of the world, there have been 775 fiat currencies created. Most no longer exist, and the average life for any fiat money is only 27 years.\n\n\nThe British Pound is the oldest fiat currency. It has lost more than 99% of its value since 1694.\n\n\nThere is no precedent for any fiat money maintaining its value over time. This is inflation.\nIt is effectively a form of theft of your own hard earned money !\n", + "title": "What happens to the value of all fiat money over time?" + }, + "OtherIssues": { + "answers": [ + "Money is difficult to move around the world, and can also be surveilled.", + "Money is no longer needed in the 21st Century.", + "Money is the root of all evil." + ], + "feedback": [ + "Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!", + "Wrong answer. You know that is not true.", + "While some may believe this to be so, it is not the answer we are looking for here." + ], + "question": "What are some other issues that exist with fiat money?", + "text": "Yes, there are many other issues that exist with modern fiat money.\n\n\nFirst, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.\n\n\nSecond, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.\n\n\nEver notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.\n", + "title": "What are some other issues that exist with fiat money?" + } + } + }, + "BitcoinWhyIsItSpecial": { + "title": "Bitcoin: Why is it special?", + "questions": { + "LimitedSupply": { + "answers": [ + "Yes. There can never be more than 21 million bitcoin created.", + "No. The government can create more bitcoin at any time.", + "No, the bitcoin software can be changed to allow more bitcoins to be created." + ], + "feedback": [ + "Correct. By limiting the amount that can be created, Bitcoin is designed to increase in value over time.", + "Wrong answer. The government has no control over Bitcoin.", + "Incorrect. One of the key attributes of bitcoin is that the supply is limited forever." + ], + "question": "Is the supply of bitcoin limited forever?", + "text": "Governments can print fiat money in unlimited quantities.\n\n\nBy way of contrast, the supply of Bitcoin is fixed — and can never exceed 21 million coins.\n\n\nA continually increasing supply of fiat money creates inflation. This means that the money you hold today is less valuable in the future.\n\nOne simple example:\nA loaf of bread that cost about 8 cents in 1920. In the year 1990 one loaf cost about $1.00, and today the price is closer to $2.50 !\n\n\nThe limited supply of bitcoin has the opposite effect, one of deflation.\n\n\nThis means that the bitcoin you hold today is designed to be more valuable in the future — because it is scarce.\n", + "title": "Is the supply of bitcoin limited forever?" + }, + "Decentralized": { + "answers": [ + "No. Bitcoin is completely “decentralized”.", + "Yes. It is centrally controlled by the United Nations.", + "Yes. It is centrally controlled by the world’s largest banks." + ], + "feedback": [ + "That is correct. There is no company, government or institution that controls bitcoin. Anyone can use bitcoin — all need is a smartphone and an internet connection.", + "Wrong answer. Please try again.", + "Incorrect. You already know this is not true!" + ], + "question": "Is bitcoin centralized?", + "text": "Fiat money is controlled by banks and governments — which is why people refer to it as a “centralized” currency.\n\nBitcoin is not controlled by any person, government or company — which makes it “decentralized”\n\nNot having banks involved means that nobody can deny you access to bitcoin — because of race, gender, income, credit history, geographical location — or any other factor.\n\nAnybody — anywhere in the world — can access and use Bitcoin anytime you want. All you need is a computer or smartphone, and an internet connection. In fact, even a feature phone with no internet can utilize Bitcoin with services like Machankura!\n", + "title": "Is bitcoin centralized?" + }, + "NoCounterfeitMoney": { + "answers": [ + "No. It is impossible to counterfeit Bitcoin.", + "Yes. Although creating fake bitcoin requires very specialized computers.", + "Yes. The govrenment can print as much bitcoin as it likes." + ], + "feedback": [ + "counterfeit Bitcoin.", + "Incorrect. There is no way for anyone to copy or duplicate the value of a bitcoin.", + "Wrong. Although the government can print unlimited dollars, it can not print bitcoin." + ], + "question": "Can people counterfeit Bitcoin?", + "text": "Paper money, checks and credit card transactions can all be counterfeit, or faked.\n\nThe unique software that runs the Bitcoin network eliminates the possibility of duplicating money for counterfeit purposes.\n\nNew bitcoin can only be issued if there is agreement amongst the participants in the network. People who are voluntarily running bitcoin software on their own computers and smartphones.\n\nThis ensures that it is impossible to counterfeit, or create fake bitcoins.\n", + "title": "Can people counterfeit Bitcoin?" + }, + "HighlyDivisible": { + "answers": [ + "0.00000001 BTC", + "One whole bitcoin. It is not possible to use anything less.", + "0.01 BTC" + ], + "feedback": [ + "Yes. You can divide a bitcoin into 100,000,000 pieces. As you already know, the smallest unit of bitcoin — B0.00000001 — is known as a “sat”.", + "Wrong. Bitcoin is highly divisible. You can easily use a very small fraction of a bitcoin.", + "Incorrect. Although the smallest unit of US currency is one penny, a bitcoin is divisible by much more than 100x." + ], + "question": "What is the smallest amount of Bitcoin one can own, or use?", + "text": "Old-fashioned fiat money can only be spent in amounts as small as one penny — or two decimal places for one US Dollar ($0.01).\n\nOn the other hand, Bitcoin can be divided 100,000,000 times over. This means that you could spend as little as ₿0.00000001. You will note the \"\"₿\"\" symbol, which is the Bitcoin equivalent of \"\"$\"\". Sometimes you will also see the use of BTC, instead of ₿.\n\nBy way of contrast, Bitcoin can handle very small payments — even those less than one US penny!\n", + "title": "What is the smallest amount of Bitcoin one can own, or use?" + }, + "securePartOne": { + "answers": [ + "Yes. The bitcoin network is very secure.", + "Maybe. It depends on the day of the week.", + "bitcoin network is safe and secure — 24 hours a day, 365 days a year." + ], + "feedback": [ + "Correct. In fact, the Bitcoin network has never once been hacked. Answer the next question to learn more!", + "Nice try, but wrong. The bitcoin network is safe and secure — 24 hours a day, 365 days a year.", + "Incorrect. Although bitcoin is indeed “open source” software — or available to the public for free — is still extremely secure." + ], + "question": "Is the Bitcoin network secure?", + "text": "The bitcoin network is worth well over $100 billion today. Accordingly, the network must be very secure — so that money is never stolen.\n\n\nBitcoin is known as the world’s first cryptocurrency.\n\n\nThe “crypto” part of the name comes from cryptography. Simply put, cryptography protects information through very complex math functions.\n\n\nMost people do not realize — but Bitcoin is actually the most secure computer network in the world !\n\n\n(you may have heard about bitcoin “hacks” — which we will debunk in the next quiz)\n", + "title": "Is the Bitcoin network secure?" + }, + "securePartTwo": { + "answers": [ + "No. Bitcoin has never been hacked.", + "Yes. Bitcoin gets hacked frequently.", + "Yes. Bitcoin usually gets hacked on holidays, when traditional banks are closed." + ], + "feedback": [ + "That is correct. The bitcoin network has never been compromised. However, it is important to make you use secure digital wallet (such as Galoy!) to keep your personal bitcoins safe at all times.", + "Wrong. Please try again.", + "No silly, you know that is not the correct answer." + ], + "question": "Has Bitcoin ever been hacked?", + "text": "To be direct: the bitcoin network itself has never been hacked. Never once.\n\n\n Then what exactly has been hacked?\n\n\n Certain digital wallets that did not have proper security in place.\n\n\n Just like a physical wallet holds fiat currency (in the form of paper bills), digital wallets hold some amount of bitcoin.\n\n\n In the physical world, criminals rob banks — and walk away with US Dollars. The fact that someone robbed a bank does not have any relationship as to whether the US Dollar is stable or reliable money.\n\n\n Similarly, some computer hackers have stolen bitcoin from insecure digital wallets — the online equivalent of a bank robbery.\n\n\n However, it is important to know that the bitcoin network has never been hacked or compromised !\n", + "title": "Has Bitcoin ever been hacked?" + } + } + }, + "TheOriginsOfMoney": { + "title": "The Origins of Money", + "questions": { + "originsOfMoney": { + "answers": [ + "To store and transfer wealth", + "To serve as a form of entertainment", + "To act as a status symbol" + ], + "feedback": [ + "Congratulations! You hit the nail on the head. Collectibles have long been used as a medium for storing and transferring wealth, much like how Bitcoin is used today as a decentralized digital currency", + "Sorry, but collectibles aren't just for show - they have a deeper purpose", + "While collectibles may serve as a status symbol for some, there's more to it than just showing off." + ], + "question": "What is the primary and ultimate evolutionary function of collectibles", + "text": "The earliest human societies engaged in trade through barter, but this method had several limitations. One issue was the \"double coincidence of wants\" problem, where two people needed to desire the same item at the same time in order to complete a trade.\n\nTo overcome this issue, humans began to collect and value certain items for their rarity and symbolic significance, such as shells, animal teeth, and flint.\n\nThese collectibles served as a way for early humans to store and transfer wealth, providing an evolutionary advantage over other species such as Homo neanderthalensis.\n", + "title": "What is the primary and ultimate evolutionary function of collectibles" + }, + "primitiveMoney": { + "answers": [ + "To store value", + "To serve as a form of entertainment", + "To act as a medium of exchange" + ], + "feedback": [ + "Congratulations! You're right on the money (pun intended). Collectibles served as a store of value in paleolithic societies, much like how Bitcoin and other cryptocurrencies are used today as a digital store of value", + "Sorry, collectibles might be fun to collect, but they had a more practical purpose in ancient societies", + "Collectibles were not used as frequently as modern currency, so they didn't quite play the same role as a medium of exchange." + ], + "question": "What was the primary role of collectibles in paleolithic societies", + "text": "Collectibles served as a precursor to money by allowing trade between different groups and facilitating the transfer of wealth between generations. Although they were not used as frequently as modern money in paleolithic societies, collectibles still served as a store of value and could sometimes even facilitate trade.\n\nPrimitive forms of money, such as collectibles, had a low velocity compared to modern currency and might only be transferred a few times during an individual's lifetime. However, durable collectibles that were passed down through generations had substantial value at each transfer and sometimes made trade possible.\n", + "title": "What was the primary role of collectibles in paleolithic societies" + }, + "anticipatingDemand": { + "answers": [ + "The ability to buy collectibles at a lower price before they became widely sought after", + "The ability to trade collectibles for other useful items", + "The ability to impress others with their collection of rare and valuable items" + ], + "feedback": [ + "Congratulations, you are correct! It seems that the concept of \"buy low, sell high\" is not a modern invention, as early humans also sought to acquire collectibles at a lower cost before their demand and trade value increased. Fun fact: this principle also applies to bitcoin, where early adopters were able to acquire bitcoins at a much lower price before their value skyrocketed", + "Sorry, that is not the correct answer. While being able to trade collectibles for other useful items may have been a benefit of correctly anticipating demand, it was not the main advantage", + "I'm afraid that is not the correct answer. While having a collection of rare and valuable items may have been a source of pride and admiration, it was not the main advantage" + ], + "question": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies", + "text": "The choice of which items to collect or create posed a significant problem for early humans, as they had to anticipate which objects would be desired by others. The ability to correctly predict which items would be in demand for their collectible value gave a significant advantage to the owner in terms of their ability to trade and accumulate wealth.\n\nSome Native American tribes, such as the Narragansetts, even focused on producing collectibles that had little practical use, but were valuable in trade.\n\nThe earlier a collectible is anticipated to be in future demand, the greater the advantage its possessor has, as it can be obtained at a lower cost before it becomes widely sought after and its trade value increases as the number of people demanding it grows.\n", + "title": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies" + }, + "nashEquilibrium": { + "answers": [ + "A concept that helps societies decide on a single store of value", + "A type of dance that promotes trade and the division of labor", + "A musical instrument that makes it easier to conduct trade and specialize in different tasks" + ], + "feedback": [ + "Congratulations, you are correct! A Nash Equilibrium is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy. In the context of choosing a store of value, achieving a Nash Equilibrium means that society has converged on a single store of value, which greatly facilitates trade and the division of labor. Fun fact: Bitcoin is often cited as an example of a Nash Equilibrium, as it has become the dominant cryptocurrency due to its perceived value and widespread adoption", + "Sorry, that is not the correct answer. While a Nash Equilibrium has nothing to do with dance, it is an important concept in game theory that can benefit society", + "I'm afraid that is not the correct answer. While music can bring people together and facilitate cooperation, a Nash Equilibrium has nothing to do with musical instruments. It is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy." + ], + "question": "What is a Nash Equilibrium and how does it benefit society", + "text": "Acquiring an item with the expectation that it will be desired as a future store of value can accelerate its adoption for that purpose. This process can create a feedback loop that drives societies towards adopting a single store of value.\n\nIn game theory, this is known as a \"Nash Equilibrium\". Reaching a Nash Equilibrium for a store of value can greatly benefit a society, as it makes trade and the division of labor easier and paves the way for the development of civilization.\n", + "title": "What is a Nash Equilibrium and how does it benefit society" + }, + "singleStoreOfValue": { + "answers": [ + "To increase the purchasing power of their savings", + "To learn about other cultures and societies", + "To show off their wealth and status" + ], + "feedback": [ + "Correct! Merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society because it increased the purchasing power of their savings. This not only benefited the merchants, but also the society as a whole, as the adoption of a single store of value reduced the cost of completing trade with other societies and increased trade-based wealth. Fun fact: Bitcoin is an example of a store of value that has been adopted by many societies, and its widespread adoption has increased its purchasing power and facilitated trade", + "Sorry, that is not the correct answer. While learning about other cultures and societies may have been a side benefit of promoting the adoption of a foreign store of value, it was not the main reason", + "I'm afraid that is not the correct answer. While showing off wealth and status may have been a motivation for some individuals, it was not the main reason for why merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society." + ], + "question": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society", + "text": "As human societies and trade routes developed over time, stores of value that emerged in different societies began to compete with each other. Merchants and traders had to decide whether to save their profits in the store of value of their own society or in the store of value of the society they were trading with, or a combination of both.\n\nHolding savings in a foreign store of value gave merchants the ability to complete trade more easily in that society, and also gave them an incentive to promote the adoption of that store of value in their own society, as it would increase the purchasing power of their savings.\n\nWhen two societies adopt the same store of value, they see a significant reduction in the cost of trading with each other and an increase in trade-based wealth. In the 19th century, most of the world converged on a single store of value – gold – and this period saw the greatest increase in trade in history.\n", + "title": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society" + } + } + }, + "AttributesOfAGoodStoreOfValue": { + "title": "Attributes of a good Store of Value", + "questions": { + "whatIsGoodSOV": { + "answers": [ + "Durability, portability, interchangeability, verifiability, divisibility, scarcity, long history, and resistance to censorship", + "Tastiness, cuteness, softness, and Instagram-ability", + "Rarity, beauty, and sentimental value" + ], + "feedback": [ + "Yes! A good store of value should have attributes such as durability, portability, interchangeability, verifiability, divisibility, scarcity, a long history, and resistance to censorship. These characteristics make it easier to use as a medium of exchange and store of value, and increase its demand over time", + "Sorry, that is not the correct answer. While tastiness, cuteness, softness, and Instagram-ability may be desirable qualities in other contexts, they are not typically considered important attributes for a store of value", + "I'm afraid that is not the correct answer. While rarity, beauty, and sentimental value may make an item valuable to a particular individual, they are not typically considered important attributes for a store of value that is widely accepted and used as a medium of exchange." + ], + "question": "What are some attributes that make a good store of value", + "text": "When stores of value compete with each other, the attributes that make a good store of value allow it to outperform its competitors and increase demand over time.\n\nMany goods have been used as stores of value but certain attributes are particularly desirable and allow these goods to be more successful.\n\nAn ideal store of value should be durable, portable, interchangeable, verifiable, divisible, scarce, have a long history, and resistant to censorship.\n", + "title": "What are some attributes that make a good store of value" + }, + "durability": { + "answers": [ + "The network that secures the currency", + "The physical manifestation of the currency", + "The institution that issues the currency" + ], + "feedback": [ + "You got it right. The network that secures the currency is an important factor in determining its durability, especially for digital currencies like bitcoin. Did you know that bitcoin has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers? That's quite impressive for a currency that's still in its early stages", + "Nope, sorry! The physical manifestation of the currency is actually not as important as the institution that issues it or the network that secures it. Don't worry though, you're not alone in making this mistake. Even the Ancient Greeks used to mint their coins out of perishable materials like bronze and copper", + "Close, but not quite! The institution that issues the currency is actually an important factor in determining its durability. But hey, at least you're not alone in this mistake. There have been many governments and currencies that have come and gone over the centuries." + ], + "question": "Which of the following is an important factor in determining the durability of a good store of value", + "text": "The good used as money should not be perishable or easily destroyed. Gold is known for its durability and is often considered the \"king\" in this regard.\n\nA large portion of the gold that has ever been mined or minted, including the gold of the Pharaohs, still exists today and is likely to remain available for many more years. Gold coins that were used as money in ancient times still hold significant value today.\n\nFiat currencies and bitcoins are digital records that may take physical form, such as paper bills. However, it is not the physical manifestation of these currencies that should be considered for their durability, but rather the durability of the institution that issues them.\n\nMany governments and their currencies have come and gone over the centuries, while others, such as the US dollar and British pound, have survived for a longer period of time. Bitcoins have no issuing authority, so their durability depends on the network that secures them. While it is still early to draw strong conclusions about the durability of bitcoins, there are signs that the network has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers.\n", + "title": "Which of the following is an important factor in determining the durability of a good store of value" + }, + "portability": { + "answers": [ + "Its physical form", + "Its ability to be easily transported and stored", + "Its ability to facilitate long-distance trade" + ], + "feedback": [ + "You got it right. The physical form of the good is not a factor that makes it portable. In fact, digital currencies like bitcoin are the most portable stores of value because they can be easily stored on a small device and transmitted quickly across long distances. Did you know that private keys representing hundreds of millions of dollars can be stored on a tiny USB drive and easily carried anywhere with bitcoin? That's pretty impressive", + "Sorry, that's incorrect! The ability to be easily transported and stored is actually an important factor that makes a good store of value portable. But don't worry, it's a common mistake. After all, who wouldn't want to carry around a cow as a store of value? It would make for a pretty impressive conversation starter at least", + "Oops, that's not the right answer! The ability to facilitate long-distance trade is actually an important factor that makes a good store of value portable. But hey, at least you're not alone in this mistake. It's easy to see how someone might think that cows are the perfect portable store of value, given their ability to produce milk and beef." + ], + "question": "Which of the following is NOT a factor that makes a good store of value portable", + "text": "\n\"Portability\" refers to how easy it is to move or transport a good from one place to another.\n\nBitcoins are highly portable, allowing for easy storage on a small USB drive and quick transmission across long distances. Similarly, fiat currencies are also digital and therefore portable, but government regulations and capital controls can make large transfers of value difficult or impossible.\n\nOn the other hand, gold, being physical in form and very dense, is the least portable store of value, with the majority of bullion never being transported and the transfer of physical gold being costly, risky, and time-consuming.\n", + "title": "Which of the following is NOT a factor that makes a good store of value portable" + }, + "fungibility": { + "answers": [ + "The shape and quality of diamonds are irregular", + "Gold is more valuable than diamonds", + "Gold is more abundant than diamonds" + ], + "feedback": [ + "Exactly**!** The irregular shape and quality of diamonds makes them less interchangeable than gold, which is why gold is considered more fungible. Did you also know that bitcoin is considered fungible at the network level, but its traceability on the blockchain can sometimes lead to it being treated as non-fungible by merchants or exchanges", + "Wrong answer! Gold may be more valuable than diamonds, but that's not the main reason it's considered more fungible. Looks like you need to brush up on your fungibility knowledge", + "Nope, sorry! While gold may be more abundant than diamonds, that's not the main reason it's considered more fungible. Better luck next time!" + ], + "question": "What is the main reason that gold is considered more fungible than diamonds", + "text": "\n\"Fungibility\" means that one unit of a currency is interchangeable with another unit of the same currency. This is an important attribute for a good store of value.\n\nGold is a highly fungible store of value, as when melted down, an ounce of gold is essentially indistinguishable from any other. Fiat currencies, on the other hand, may not always be completely fungible, as their issuing institutions may treat different denominations differently.\n\nLike gold, units of bitcoin are fungible, but there are some nuances to it. We'll dive into this in a later chapter.\n", + "title": "What is the main reason that gold is considered more fungible than diamonds" + }, + "verifiability": { + "answers": [ + "By using cryptographic signatures", + "By checking for gold-plated tungsten", + "By checking for features on banknotes to prevent counterfeiting" + ], + "feedback": [ + "Congratulations! You are correct. Bitcoin can be verified with mathematical certainty using cryptographic signatures", + "Sorry, but that's not quite right. Better luck next time", + "Wrong! Bitcoin is purely digital and doesn't utilize banknotes. Try again!" + ], + "question": "How can bitcoin be verified", + "text": "It is important for a good store of value to be easily verifiable as authentic. This increases confidence in trade and the likelihood that a transaction will be completed.\n\nBoth fiat currencies and gold are generally easy to verify, but they are not foolproof. Counterfeit bills and gold-plated tungsten have been used to deceive people in the past.\n\nOn the other hand, the use of cryptography makes verification very easy for bitcoin and makes counterfeiting impossible.\n", + "title": "How can bitcoin be verified" + }, + "divisibility": { + "answers": [ + "Gold", + "Bitcoin", + "Fiat currency" + ], + "feedback": [ + "You are correct. Gold is difficult divide into small quantities for everyday trade. Did you know that gold has been used as a store of value for thousands of years due to its rarity and durability", + "Sorry, but that's not quite right. Bitcoin is highly divisible into its base unit 'satoshi', and it can even be divided into milli-satoshis (1/1000 of a satoshi) on the Lightning Network", + "Nope**.** While fiat currencies are not as divisible as bitcoin, they are easily divisible into smaller denominations." + ], + "question": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade", + "text": "The ability to divide a good is an important attribute for it to be a good store of value.\n\nImagine you have a $100 bill and want to buy a pack of chewing gum that costs 10 cents. The success of the trade depends on the seller having $99.90 in change available in that moment.\n\nIn societies where trade is prevalent, the ability to divide a good into smaller quantities allows for more precise exchange and can make it easier to use in day-to-day transactions.\n\nBitcoin is particularly useful in this regard, as it can be divided down to a hundred millionth of a unit and transmitted in tiny and exact amounts.\n\nFiat currencies are typically divisible down to pocket change, which has little purchasing power, making fiat divisible enough in practice.\n\nGold, while physically divisible, can be difficult to use in small quantities for everyday trade.\n", + "title": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade" + }, + "scarce": { + "answers": [ + "Scarcity", + "Abundance", + "Ease of production" + ], + "feedback": [ + "Congratulations! You are correct. Did you know that there will only ever be a maximum of 21 million bitcoins in circulation, making it a scarce and valuable asset", + "Sorry, but abundance is not the most important attribute for a store of value. Better luck next time", + "Sorry, but ease of production is not the most important attribute for a store of value. Better luck next time!" + ], + "question": "What is the most important attribute of a store of value", + "text": "A good store of value should have a limited supply, or be scarce.\n\nThis is because scarcity can create value, as people often desire rare or hard-to-obtain items. Bitcoin, for instance, is designed to have a maximum of 21 million units, which gives each owner a known percentage of the total possible supply.\n\nIn contrast, the supply of gold can potentially increase through new mining methods, and fiat currencies are often prone to inflation, leading to a decline in value over time.\n", + "title": "What is the most important attribute of a store of value" + }, + "establishedHistory": { + "answers": [ + "The new arrival has a significant advantage over the established good", + "The established good has a longer history of being valued by society", + "The new arrival is cheaper to produce" + ], + "feedback": [ + "You are correct. A long-established store of value is less likely to be displaced by a new arrival unless the new arrival has a significant advantage over the established good", + "Sorry, but this is actually the reason that a long-established store of value is less likely to be displaced. Better luck next time", + "Nope, wrong. Did you not pay attention in the previous lesson on scarcity?" + ], + "question": "What is the main reason that a long-established store of value could be displaced by a new arrival", + "text": "This is because a well-established store of value is less likely to be displaced by a newcomer, unless it has a significant advantage over the established good.\n\nAdditionally, people are creatures of habit and will keep using what they already know.\n\nGold, for example, has a long history of being valued and has maintained its value over time. In contrast, fiat currencies, which are a relatively recent invention, have a tendency to lose value over time due to inflation.\n\nBitcoin, although it has only been around for a short time, has shown resilience in the market and is likely to continue to be valued.\n", + "title": "What is the main reason that a long-established store of value could be displaced by a new arrival" + }, + "censorshipResistance": { + "answers": [ + "Its decentralized, peer-to-peer network", + "Its physical nature", + "Its regulation by states" + ], + "feedback": [ + "You are correct. The decentralized, peer-to-peer network of Bitcoin allows for transactions to be made without permission, making it a censorship-resistant good", + "No. In fact, physical goods often require permission to cross borders and can easily be confiscated. Better luck next time", + "Sorry, but the opposite is actually true. The fiat banking system, which is regulated by states, requires human intervention to report and prevent certain uses of monetary goods, making it prone to censorship. Try again!" + ], + "question": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good", + "text": "Censorship-resistance is an attribute that has become increasingly important in the digital age, as it refers to the difficulty that external parties, such as corporations or governments, have in preventing an individual from using a particular good.\n\nThis attribute is particularly valuable for individuals living under regimes that enforce capital controls or prohibit certain forms of trade. Bitcoin is often cited as being a censorship-resistant good due to its decentralized, peer-to-peer network, which allows for transactions to be made without human intervention or permission.\n\nIn contrast, the fiat banking system is regulated by states and requires human intervention to report and prevent certain uses of monetary goods, such as capital controls.\n\nGold, although it is not issued by states, can be difficult to transmit at a distance and is therefore more subject to state regulation.\n", + "title": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good" + } + } + }, + "TheEvolutionOfMoneyI": { + "title": "The Evolution of Money I", + "questions": { + "evolutionMoney": { + "answers": [ + "The use of money as a way to exchange goods and services", + "The history of money's development", + "The exclusive power of governments to create money" + ], + "feedback": [ + "Congrats, you got it right! It's interesting to note that the use of money as a medium of exchange has become more important in modern times due to the rise of electronic payment methods", + "Wrong! But it's good that you're interested in the history of money. Try again", + "Sorry, that's incorrect. It's true that governments do have a lot of control over the creation and issuance of money, but that's not the main focus of modern monetary economics. Try again!" + ], + "question": "What is the main focus of modern monetary economics", + "text": "In modern times, many people in the field of monetary economics focus on the idea that money is mainly used as a way to exchange goods and services.\n\nIn the past century, however, governments have had the exclusive power to create money and have often made it difficult for money to hold its value. This lead people to believe that the main purpose of money is to be used for exchange.\n\nSome have argued that Bitcoin is not a good form of money because its value tends to change too much to be used effectively in transactions.\n\nHowever, this way of thinking is backwards. Throughout history, the use of money has developed in stages, with its value as a store of value coming before its use as a medium of exchange.\n", + "title": "What is the main focus of modern monetary economics" + }, + "collectible": { + "answers": [ + "Coins made of copper and silver", + "Shells, beads, and gold", + "Paper bills with pictures of famous leaders" + ], + "feedback": [ + "Sorry, that's incorrect. Copper and silver coins were not used as money in the very beginning of its evolution", + "Congratulations, you got it right! It's interesting to note that shells, beads, and gold were all valued for their appearance or special qualities before becoming widely used as money", + "Wrong! But at least you're thinking about the more modern forms of money. Paper bills with pictures of famous leaders were not used in the very beginning of money's evolution." + ], + "question": "What were some examples of early forms of money that were valued for their appearance or special qualities", + "text": "Throughout history, money has gone through four stages of development. In the very beginning, people only wanted money because of its special qualities, and it was mostly seen as a decorative item or a collectible.;\n\nExamples of this include shells, beads, and gold, which were all collectibles before becoming widely used as money.\n", + "title": "What were some examples of early forms of money that were valued for their appearance or special qualities" + }, + "storeOfValue": { + "answers": [ + "The number of people who want it as a store of value", + "The weather", + "The color of the store of value" + ], + "feedback": [ + "Nice work! The purchasing power of a store of value is determined by the number of people who want to use it as a way to store value. As more people want to use it for this purpose, the value of the store of value increases", + "Sorry, the weather is definitely a factor in many things, but it's not quite the right answer for this question. Maybe try looking at other factors that could affect the value of a store of value", + "I'm sorry to say that the color of a store of value probably doesn't have much of an effect on its purchasing power. It's definitely an interesting idea though! Maybe try considering other characteristics that could affect the value of a store of value." + ], + "question": "What determines the purchasing power of a store of value", + "text": "The store of value is the second stage of money's evolution. When enough people want money because of its special qualities, it becomes a way to keep and save value over time, to transport hard earned wealth into the future.\n\nAs more people recognize a good as a good way to store value, the good's value increases as more people want it for this purpose.\n\nEventually, the value of a store of value will stop increasing as it becomes widely held and fewer new people want it as a store of value.\n", + "title": "What determines the purchasing power of a store of value" + }, + "mediumOfExchange": { + "answers": [ + "The first time bitcoin had market value", + "The invention of pineapple as a pizza topping", + "again" + ], + "feedback": [ + "You got it right. Bitcoin Pizza Day is celebrated to mark the first time that bitcoin had market value, which was when Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. It's an important event in the evolution of bitcoin", + "While pineapple is a beautiful fruit, it has no place on a real pizza! Apart from this side note, your answer is wrong. Try again", + "Sorry, the best pizza recipe is a matter of personal preference. While pizza is always delicious, it's not the focus of Bitcoin Pizza Day. Maybe try considering the significance of the event in the history of bitcoin." + ], + "question": "What is Bitcoin Pizza Day celebrated for", + "text": "When money is used to store value, its value becomes stable eventually. And when the value of money is stable, it becomes the best option to facilitate trade as it's easy to use and doesn't have the coordination burden of barter.\n\nIn the early days of Bitcoin in 2010, some people did not recognize the opportunity cost to use Bitcoin as a medium of exchange rather than a nascent store of value.\n\nThere is a famous story about Laszlo Hanyecz who traded 10,000 bitcoins (which were worth about $165 million at the time of this writing) for just two pizzas. When Laszlo acquired those pizzas, it marked the first time that bitcoin had market value.\n\nToday, Laszlo's pizza is celebrated globally on May 22 as Bitcoin Pizza Day as an important step and milestone in the evolution of bitcoin as money.\n", + "title": "What is Bitcoin Pizza Day celebrated for" + }, + "unitOfAccount": { + "answers": [ + "When merchants are willing to accept it as payment without considering the exchange rate with other currencies", + "When it is used to buy ice cream", + "When it is used to play games with friends" + ], + "feedback": [ + "Congrats! For bitcoin to be considered a unit of account, it needs to be widely accepted as a form of payment without regard to its exchange rate with other currencies. This means that merchants would be willing to accept it as payment without considering the value of bitcoin in terms of other currencie", + "I'm sorry, but while ice cream is delicious, it's not quite the right answer. Maybe try considering other factors that could affect the acceptance of bitcoin as a unit of account", + "Playing games with friends is always fun, but unfortunately it's not the correct answer. Maybe try thinking about what it would take for bitcoin to be widely accepted as a form of payment.\"" + ], + "question": "How can bitcoin be considered a unit of account", + "text": "When money is commonly used for trading, goods are priced in terms of it. This means that most goods can be exchanged for money at a certain rate.\n\nIt is not accurate to say that many goods can be bought with bitcoin today. For example, while a cup of coffee might be available for purchase using bitcoin, the price listed is not the true value of bitcoin. Instead, it is the dollar price that the merchant wants, converted into bitcoin based on the current exchange rate between dollars and bitcoin.\n\nIf the value of bitcoin goes down in terms of dollars, the merchant will ask for more bitcoin to equal the same dollar amount.\n\nBitcoin can only be considered a unit of account (a standard way to measure the value of goods) when merchants are willing to accept it for payment without considering the exchange rate with other currencies.\n", + "title": "How can bitcoin be considered a unit of account" + }, + "partlyMonetized": { + "answers": [ + "A good that is not yet widely used as a unit of account", + "A currency that is only accepted in certain countries", + "A good that is used as a medium of exchange but not for storing value or measuring the value of goods" + ], + "feedback": [ + "Congratulations! You've chosen the correct answer. A partly monetized good is one that is not yet widely accepted as a unit of account, which means it is not commonly used as a standard way to measure the value of other goods. This can include goods like gold, which is often used to store value but not typically used for everyday transactions", + "That's a creative answer, but unfortunately not quite right. Better luck next time", + "Not quite correct, but close! Keep thinking." + ], + "question": "What is the meaning of the term \"partly monetized\"", + "text": "Goods that are not widely accepted as a unit of account may be considered \"partly monetized\" because they are used for some purposes related to money, but not all.\n\nGold is an example of a partly monetized good that is used to store value but is not widely used as a medium of exchange or unit of account. In some countries, different goods may be used for different purposes related to money, such as one good being used as a medium of exchange and another being used as a store of value or unit of account.\n\nThe dollar is an example of a good that is widely used for all three purposes of money in the United States, while the peso was an example of a good that was used as a medium of exchange in Argentina but was not a good store of value because of its volatility and regular loss of purchasing power.\n", + "title": "What is the meaning of the term \"partly monetized\"" + }, + "monetizationStage": { + "answers": [ + "It is in the process of becoming more widely accepted as money", + "It is currently being used as a way to trade goods and services, like other currencies.", + "It has already completed the process of becoming more widely accepted as money and is now being used as a form of currency." + ], + "feedback": [ + "Bingo! You're right on the money (pun intended) with this answer. Did you know that the process of Bitcoin becoming more widely accepted as money is similar to the process gold went through to become a widely accepted form of currency", + "Ha! You must have missed the part about it taking several years for Bitcoin to reach this stage. Keep reading", + "Sorry to break it to you, but Bitcoin is still in the process of becoming more widely accepted as money. Better luck next time!" + ], + "question": "What is the current stage of Bitcoin's evolution", + "text": "Bitcoin is currently changing from the first stage of being used as money to the second stage. It may take several years for Bitcoin to be used as a way to trade goods and services, like other currencies.\n\nThe process of Bitcoin becoming more widely accepted as money is uncertain, as the same process took a long time for gold and no one alive has seen a good become money in the same way that is happening with Bitcoin. There is not a lot of experience with this process, but developments around the world are very promising and happening faster in the interconnected digital age.\n", + "title": "What is the current stage of Bitcoin's evolution" + } + } + }, + "TheEvolutionOfMoneyII": { + "title": "The Evolution of Money II", + "questions": { + "notFromGovernment": { + "answers": [ + "Money is the most tradable good in any given market.", + "Money is a government creation.", + "Money is a magical substance created by fairies." + ], + "feedback": [ + "Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money", + "Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time", + "Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!" + ], + "question": "What is money", + "text": "There is a popular misconception that money is a government creation and cannot exist without government. This is false.\n\nThe history of money goes back thousands of years to times when governments did not exist, but money did.\n\nThis proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.\n", + "title": "What is money" + }, + "primaryFunction": { + "answers": [ + "To improve the workings of small barter networks.", + "To facilitate large scale trade networks.", + "To reduce the need for credit." + ], + "feedback": [ + "Congratulations! It's interesting to think about how money has evolved over time, from its early use as a means of facilitating trade in small communities to its current role as a medium of exchange in modern economies", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! Credit has been around for almost as long as money, and it's likely here to stay. Better luck with your next answer." + ], + "question": "What was the primary function of money", + "text": "Primitive money existed long before large scale trade networks. Archeologists found that early humans used valuable tools like arrowheads, collectibles like cowry shells and commodities like barley as primitive money.\n\nThe main advantage and primary function of these primitive moneys was to improve the workings of even small barter networks. Primitive moneys achieved this by eliminating the need to match coincidences of wants, interests, supply or skill. They also greatly reduced the need for credit, which, in the absence of writing in prehistoric times, was difficult to keep track of.\n", + "title": "What was the primary function of money" + }, + "monetaryMetals": { + "answers": [ + "Their ability to withstand time and wear.", + "Their rarity and difficulty to produce.", + "Their colorful and decorative appearance." + ], + "feedback": [ + "Correct! It's impressive to think about how certain materials, like metal, have been able to hold value over centuries and even millennia. Good work", + "Nice try, but not quite right. Better luck with your next answer", + "Sorry, looks like you were a little off the mark this time. Maybe try focusing on the functional aspects of money rather than its aesthetic appeal." + ], + "question": "What made metals valuable as a form of money", + "text": "Metals were difficult to make, which made them rare. They also lasted longer than other materials like shells, grains, and beads. This made them valuable and easy to carry, or portable.\n\nAs technology improved, especially in the production of metal, humans were able to create more advanced, better forms of money.\n", + "title": "What made metals valuable as a form of money" + }, + "stockToFlow": { + "answers": [ + "A measure of the rate at which new units of a monetary good are introduced into the existing supply.", + "A measure of a company's financial stability.", + "A ratio used to compare the value of different currencies." + ], + "feedback": [ + "That's right! The Stock to Flow ratio can be a useful tool for understanding the stability and scarcity of a particular currency or commodity. Good job", + "Sorry, looks like you're mixing up your business jargon. Better luck with your next answer", + "Wrong! But hey, at least you're thinking about the global economy. Better luck with your next guess." + ], + "question": "What is the Stock to Flow ratio", + "text": "The Stock to Flow ratio is a measure of the rate at which new units of money are added to the existing supply.\n\nTo calculate it, you divide the existing amount of money by the amount produced each year.\n\nFor something to be a good way to save value, it should become more valuable when people want to use it to save, but the people who make it should not be able to add too much of it, which would make it less valuable.\n", + "title": "What is the Stock to Flow ratio" + }, + "hardMoney": { + "answers": [ + "The difficulty of producing new units of a monetary good.", + "The value of money compared to other currencies.", + "The amount of money in circulation." + ], + "feedback": [ + "That's it! **** It's interesting to think about how the hardness of money can change over time as technology advances and what was once difficult to produce becomes easier. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! The hardness of money has more to do with its production than its quantity. Better luck with your next answer." + ], + "question": "What is the hardness of money", + "text": "The difficulty of producing new units of money compared to other forms of money is called its hardness. This can change over time as technology improves and what was once difficult to produce could become easier.\n\nIn precolonial Ghana (Africa), aggry beads (made of glass) were used as money. Glassmaking was an expensive craft in that region, which gave the aggry beads a high stock-to-flow ratio and made them rather scarce.\n\nIn the 16th century, European explorers discovered the high value ascribed to these beads by the west Africans and began importing them in mass quantities; as European glassmaking technology made them extremely cheap to produce.\n\nSlowly but surely, the Europeans used these cheaply produced beads to acquire most of the precious resources of Africa. The net effect of this incursion into Africa was the transference its vast natural resource wealth to Europeans and the conversion of aggry beads from hard money to soft money.\n\nAs societies continued to evolve, they began to move away from artifact money like stones and glass beads and towards monetary metals.\n", + "title": "What is the hardness of money" + } + } + }, + "TheEvolutionOfMoneyIII": { + "title": "The Evolution of Money III", + "questions": { + "convergingOnGold": { + "answers": [ + "Because it cannot be destroyed or synthesized from other materials.", + "Because it is abundant and easy to find.", + "Because it is the most attractive and visually appealing metal." + ], + "feedback": [ + "Exactly**.** It's interesting to think about how the qualities of different materials, such as gold's durability and rarity, can make them more valuable and desirable as a form of money. Good job", + "Sorry, looks like you got it backwards! Better luck with your next guess", + "Wrong! While gold may have a certain aesthetic appeal, it's ultimately its functional qualities that make it a valuable form of money. Better luck with your next answer." + ], + "question": "Why did the free market choose gold as a form of money", + "text": "From all monetary metals, the free market ultimately chose gold as a form of money because it has two important qualities that keep its value stable over long periods of time and across many regions of the world:\n\n1\\) Gold cannot be destroyed, and\n\n2\\) Gold cannot be made from other materials.\n", + "title": "Why did the free market choose gold as a form of money" + }, + "originsOfPaperMoney": { + "answers": [ + "To allow for the convenient exchange of gold in place of physically transporting it", + "To represent a promise to pay a debt", + "To transport large amounts of gold" + ], + "feedback": [ + "Congratulations! You're a gold exchange genius! Did you know that these paper notes were also known as \"bearer instruments,\" which means that they could be traded and redeemed by anyone in possession of them", + "Oh no, it looks like you've got a case of promissory confusion! Better luck next time", + "Transporting gold in paper form? That's a bold move." + ], + "question": "What were paper notes used for during the expansion of trade routes", + "text": "Gold can be made into coins or bars of a specific weight and purity. When trade routes expanded, it became riskier to transport large amounts of gold.\n\nAs a solution, paper notes from trusted banks that could be exchanged for gold were used. In 900 CE, Chinese merchants initiated the use of paper currency to avoid having to carry thousands of coins over long distances. They started trading paper receipts from custodians where they had deposited money or goods.\n\nIn the beginning these paper notes were personally registered, but they soon became a written order to pay the amount to whomever had it in their possession (bearer instrument). These notes can be seen as a predecessor to today's banknotes.\n", + "title": "What were paper notes used for during the expansion of trade routes" + }, + "fractionalReserve": { + "answers": [ + "To allow people to earn money from their gold", + "To make it easier for banks to hold large amounts of gold", + "To make it easier for banks to make loans" + ], + "feedback": [ + "Congratulations! You're a banking history expert! Did you know that Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans", + "Hmm, it looks like you're a little off the mark. Better luck next time", + "Sorry, but it looks like you're mixing up your banking systems. Better luck next time!" + ], + "question": "Why did Fractional Reserve Banking develop", + "text": "Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans.\n\nOne reason this system developed is because people wanted to earn money from their gold, rather than paying to store it.\n\nThey could do this by allowing a bank or vault to lend out their gold and receiving interest payment in return.\n\nIf more people deposited their gold than wanted to take it back, the bank could make more profit by using the same gold as collateral for multiple loans, hence keeping only a fraction of loans in reserve.\n", + "title": "Why did Fractional Reserve Banking develop" + }, + "bankRun": { + "answers": [ + "A sudden drain of deposits en masse, leading to systemic fears and drying up of liquidity", + "A nice vacation for everyone", + "A sudden increase in the price of gasoline" + ], + "feedback": [ + "masse, leading to systemic fears and drying up of liquidity", + "Sorry, taking a vacation isn't quite the outcome we're looking for here. Better luck next time", + "Gas prices might fluctuate for a variety of reasons, but this particular scenario doesn't have much to do with it. Try again!" + ], + "question": "What is a potential outcome of banks issuing more paper notes than they held deposits", + "text": "Banks sometimes issued more paper notes than they had deposits, which could cause problems in the economy. If people started to doubt the solvency of a bank, they might rush to withdraw their money all at once before others do. This is called a bank run.\n\nThe sudden loss of deposits from the bank run could reveal that the bank was using too much leverage through Fractional Reserve Banking. This could cause a lack of liquidity and bring the whole financial system to a stop.\n", + "title": "What is a potential outcome of banks issuing more paper notes than they held deposits" + }, + "modernCentralBanking": { + "answers": [ + "To create a unified national currency and provide a backup plan for other banks", + "To sell ice cream and provide a place for people to play games", + "To act as a personal stylist and wardrobe consultant for the royal family" + ], + "feedback": [ + "Congratulations, you got it right! Did you know that central banks also act as the \"lender of last resort,\" meaning they can give out money when needed to make sure people's deposits are secure", + "I'm sorry, but central banks do not sell ice cream or provide a place for people to play games. They have much more important responsibilities", + "I'm afraid you are mistaken. Central banks do not act as personal stylists or wardrobe consultants for the royal family. Try again!" + ], + "question": "What is the purpose of a central bank", + "text": "To counter the problem of bank runs, governments created their own banks called \"central banks.\"\n\nThese central banks have the special power to create money. They act as a backup plan for when commercial banks run out of reserves and need extra money to stay open.\n\nBecause of this function, central banks are also called the \"lenders of last resort,\" meaning they can create and give out money when commercial banks need liquidity to service withdrawals.\n", + "title": "What is the purpose of a central bank" + }, + "goldBacked": { + "answers": [ + "It made it difficult for governments to borrow money", + "It made it hard for people to save money in the bank", + "It required governments to hold a petting zoo in their treasury" + ], + "feedback": [ + "Yep! The gold standard made it difficult for governments to borrow money because they had to hold a certain amount of gold in reserve in order to issue a certain amount of currency", + "I'm sorry, but the gold standard did not make it hard for people to save money in the bank. It was actually a problem for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves", + "An amusing idea, but nonsense nevertheless! Try again." + ], + "question": "What was the main problem with the gold standard system for governments and citizens", + "text": "In the past, some governments linked the value of their currency to a specific amount of gold, a system known as a \"gold standard.\" This meant that the government had to hold a certain amount of gold in reserve in order to issue a certain amount of currency.\n\nThis system limited the government's ability to borrow money because they could not simply print more currency to cover the cost of borrowing. Governments often borrowed money to finance wars or other expensive projects, but the gold standard made it difficult for them to do so without first accumulating enough gold to back the new currency they wanted to issue.\n\nThe gold standard was also problematic for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves.\n", + "title": "What was the main problem with the gold standard system for governments and citizens" + }, + "brettonWoods": { + "answers": [ + "To link the value of other countries' currencies to the value of gold through the US dollar", + "To create a new global currency made out of chocolate coins", + "To establish a network of trampoline parks in every major city" + ], + "feedback": [ + "That's right. The Bretton Woods system was established after World War II in order to address global economic instability and high levels of debt. It linked the value of other countries' currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate", + "Sweet idea, but not very practical. Or would you prefer your money to melt away even faster? Try again", + "Trampoline parks would have surely made for a great distraction of the public from the strange machinations of the Bretton Woods system. Have you considered applying as an advisor at the IMF or World Bank? Try again!" + ], + "question": "What was the main purpose of the Bretton Woods system", + "text": "After World War I and II, many countries were financially exhausted and did not have a lot of money. The United States had a lot of gold because they sold a lot of weapons and other military equipment to other countries during the wars. As a result, the United States controlled about two-thirds of the world's gold.\n\nIn order to fix the global economy, a new system was created where countries would link their own currencies to the value of the US dollar.\n\nThe US dollar, in turn, would be linked to the value of gold. This meant that the value of other countries' currencies would be based on the value of the US dollar, which was based on the amount of gold the United States had.\n", + "title": "What was the main purpose of the Bretton Woods system" + }, + "globalReserve": { + "answers": [ + "A type of money that is widely used in international trade and financial transactions", + "A currency made out of rainbow-colored paper and glitter", + "The currency of the nation that pays the biggest share of the World Trade Organization's budget" + ], + "feedback": [ + "Correct! A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted", + "While most banknotes are made of colorful pieces of paper with strings of glitter as security features in them, this is not what defines a global reserve currency. Try again", + "Surely this would benefit the WTO's funding immensely, but this is not how the global reserve currency is defined or chosen. Try again!" + ], + "question": "What is a global reserve currency", + "text": "A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted.\n\nChanges to the global reserve currency can have significant geopolitical implications, as it can affect the balance of power between countries.\n\nThe dominant global reserve currency has typically had a lifespan of several decades, with the US dollar serving as the dominant global reserve currency for much of the 20th century.\n", + "title": "What is a global reserve currency" + } + } + }, + "TheEvolutionOfMoneyIV": { + "title": "The Evolution of Money IV", + "questions": { + "nixonShock": { + "answers": [ + "It ended and was replaced by a new monetary system based on floating exchange rates", + "It became a popular TV game show", + "It was turned into a giant roller coaster ride" + ], + "feedback": [ + "Correct! In 1971, President Nixon directed the US Treasury Secretary to stop allowing foreign governments to exchange their dollars for gold", + "Not quite, but a game show version of the Bretton Woods system sounds like it could be entertaining", + "I see what you did there, but this isn't the correct answer here. Try again!" + ], + "question": "What happened to the Bretton Woods system in 1971", + "text": "The Bretton Woods system was a monetary system established after World War II in order to address global economic instability and high levels of debt.\n\nUnder this system, many countries pegged their own currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate. This meant that the value of other countries' currencies was indirectly tied to the value of gold through the US dollar.\n\nIn 1971, United States President Richard Nixon directed the US Treasury to stop allowing foreign governments to exchange their dollars for gold, a process known as \"convertibility.\"\n\nThe sudden end of convertibility of dollars for gold shocked the world and became known as the Nixon Shock, effectively ending the Bretton Woods system fixed exchange rates. It marked the beginning of a new monetary system based on floating exchange rates.\n", + "title": "What happened to the Bretton Woods system in 1971" + }, + "fiatEra": { + "answers": [ + "A currency issued by a government decree", + "A type of currency that is only accepted by merchants who love pizza", + "A currency made out of precious gems and metals" + ], + "feedback": [ + "Good job. Fiat money, such as Federal Reserve notes, is a type of currency issued by a government that is not directly exchangeable for a fixed amount of something else, like gold or silver. Its value comes from the fact that the government says it is valuable and people trust that they will be able to use it to buy things", + "Not quite, but a currency that is only accepted by pizza-loving merchants sounds like it could be a delicious way to pay for things", + "Nope, but a currency made out of precious gems and metals would definitely be shiny and eye-catching." + ], + "question": "What does the word \"fiat\" mean when it is used to talk about money", + "text": "\"Fiat\" is a word that comes from Latin and means \"let it be done.\" When it is used to talk about money, it means that a government is creating a currency by decree alone.\n\nSince the Nixon Shock, fiat money is not backed by gold or silver and neither can it be directly converted for a fixed amount of gold, as it used to be before.\n\nThis means that their value comes from the fact that the government says they are valuable and that people trust that they will be able to use them to buy things.\n\nIn addition, governments often make it a law (legal tender) that merchants have to accept this type of fiat currency and that it is the only type of currency that can be used to pay taxes.\n", + "title": "What does the word \"fiat\" mean when it is used to talk about money" + }, + "digitalFiat": { + "answers": [ + "A government issued money that exists only in digital form, like on a computer or phone", + "A type of currency that can only be used to buy things in the internet", + "A currency that can only be sent by email" + ], + "feedback": [ + "Good job. Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins, and is becoming increasingly popular due to its lower costs, faster speeds, and increased capabilities for surveillance", + "Not quite. While digital fiat is digital like the internet, it is also widely accepted at brick and mortar merchants. Try again", + "Nope, you guessed wrong. The use of such a currency would be extremely limited and doesn't exist to our knowledge. Try again!" + ], + "question": "What is digital fiat", + "text": "Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins.\n\nDigital fiat became possible with the proliferation of digital communication networks, like the internet, and the growth of consumer devices like computers and phones that can connect to these networks. Standardized payment protocols, which are established ways of making payments online, also played a role in the emergence of digital fiat.\n\nDigital fiat is increasingly replacing physical fiat due to its lower costs, faster speeds, and increased capabilities for surveillance. In other words, it is cheaper and faster to use digital fiat and it is easier to track transactions made with digital fiat.\n", + "title": "What is digital fiat" + }, + "plasticCredit": { + "answers": [ + "A type of payment card that allows people to borrow money to pay for things", + "A card that grants the holder special powers, like the ability to fly", + "A card that allows people to pay for things by waving their hand over a sensor" + ], + "feedback": [ + "Correct. A credit card is a type of payment card that allows people to borrow money from the credit card company to pay for things now, rather than saving up money to pay for things later. There are about three billion credit cards in use around the world today", + "Not quite, but a credit card that grants special powers like the ability to fly sounds like it could be a lot of fun", + "Nope, but a credit card that allows people to pay for things by waving their hand over a sensor sounds like something out of a science fiction movie, not real life." + ], + "question": "What is a credit card", + "text": "The credit card is a type of payment card that allows people to borrow money to pay for things. When people use credit cards, they are borrowing money from the credit card company to pay for things now, rather than saving up money to pay for things later.\n\nThis has gradually normalized the act of borrowing for consumption, something that impacts the time preference of users. Instead of waiting to save up the money, the invention of credit cards has made it more common for people to borrow money to buy things they want right away\n\nToday, there are about three billion credit cards in use around the world.\n", + "title": "What is a credit card" + }, + "doubleSpendProblem": { + "answers": [ + "The ability to ensure that the same digital unit of money cannot be spent more than once by its owner", + "The desire to create a digital currency that could only be spent on Mars", + "The idea of rewarding honesty and making dishonesty very costly" + ], + "feedback": [ + "Good job. In the digital world, where it is easy to copy things, it is important to make sure that the same digital unit of money (like a digital coin) cannot be spent more than once by its owner. This was a key factor in the creation of Bitcoin, as it is important for a monetary system that works without a central authority (like a government)", + "Not quite, but a digital currency that could only be spent on Mars sounds like it could be a fun way to support the colonization of the red planet", + "Nope, but the idea of rewarding honesty and making dishonesty very costly is a key factor in the creation of any monetary system, as it helps to ensure trust and cooperation among participants." + ], + "question": "What was a key factor in the creation of Bitcoin", + "text": "In the digital world, it is easy to copy things, so it is important to make sure that the same digital unit of money cannot be spent more than once by its owner.\n\nIn a monetary system with a central authority (like a government), this problem is trivially solved by keeping a ledger of transactions managed by the central authority. However, this normally represents a single point of failure from both availability and trust viewpoints.\n\nIn a decentralized system, the double-spending problem is significantly harder to solve. Many people have tried to create digital money that is not controlled by a government, but they have all had their own unique challenges.\n\nSatoshi Nakamoto took all of these lessons into account and was the first to solve the double spending problem with the implementation of Bitcoin by creating a decentralized system that rewards honesty and makes it very costly to be dishonest.\n", + "title": "What was a key factor in the creation of Bitcoin" + }, + "satoshisBreakthrough": { + "answers": [ + "The double spending problem", + "The problem of double coincidence of wants", + "The halving problem" + ], + "feedback": [ + "Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once", + "Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again", + "Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!" + ], + "question": "Which problem did Satoshi have to solve to create Bitcoin", + "text": "Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.\n\nHis solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.\n", + "title": "Which problem did Satoshi have to solve to create Bitcoin" + }, + "nativelyDigital": { + "answers": [ + "Digital fiat money is based on a product from the industrial age, while Bitcoin is a purpose-built money for the digital age", + "Digital fiat money is open-source, while Bitcoin is a closed system", + "Digital fiat money is designed to increase in value over time, while Bitcoin is designed to lose value" + ], + "feedback": [ + "for the digital age", + "It seems you got things mixed up. It's actually the other way around. Try again", + "Sorry, that's not quite right. Bitcoin is likely to increase in value over time due to its strictly fixed supply and growing deman, while inflation decreases the value of fiat currencies quite reliably." + ], + "question": "What is the main difference between digital fiat money and Bitcoin", + "text": "Digital fiat money is a digital version of a product that was designed for the industrial age. It has all of the same problems and limitations as the original product. It is a closed system that is heavily controlled and designed to lose value over time.\n\nBitcoin is a type of digital money that was specifically designed for the digital age. It can be improved and updated, and anyone can see and change the code that it is based on. It benefits from the ideas and creativity of anyone who works on it.\n", + "title": "What is the main difference between digital fiat money and Bitcoin" + }, + "CBDCs": { + "answers": [ + "To provide surveillance and censorship capabilities to the issuer", + "To compete with Bitcoin as a store of value", + "To create a decentralized and permissionless digital currency" + ], + "feedback": [ + "That's correct! CBDCs are like the Big Brother of digital currencies, designed to provide surveillance and censorship capabilities to the issuer. Creepy, but correct", + "Haha, sorry but no. While Bitcoin and CBDCs are both digital currencies, they have very different purposes and characteristics. CBDCs are issued and backed by central banks, while Bitcoin is decentralized and not controlled by any government or financial institution", + "Oh boy, that's a creative answer but unfortunately not quite right. CBDCs are not designed to be decentralized or permissionless like Bitcoin. In fact, they are issued and backed by central banks, and their main purpose is to be the ultimate tool for control in the digital age. Better luck next time!" + ], + "question": "What is the main purpose of central bank digital currencies (CBDCs)", + "text": "Central bank digital currencies (CBDCs) are digital versions of traditional currency that are issued and backed by a central bank.\n\nCBDCs are not decentralized or permissionless like Bitcoin, and are instead intended to compete with other forms of digital payment methods for market dominance.\n\nOne of the main reasons for the development of CBDCs is the surveillance and censorship capabilities they provide the issuer.\n\nAdditionally, in an age of negative real interest rates (when the inflation rate is higher than the interest rate), the widespread adoption of CBDCs often goes hand in hand with the phasing out of physical cash, which can lead to the devaluation of the currency in real terms.\n", + "title": "What is the main purpose of central bank digital currencies (CBDCs)" + } + } + }, + "BitcoinWhyWasItCreated": { + "title": "Bitcoin: Why was it created?", + "questions": { + "rootProblem": { + "answers": [ + "The trust that is required to make it work", + "The color of the physical bills", + "The fact that it requires physical storage" + ], + "feedback": [ + "You got it right! The root problem with conventional currency is the trust that is required to make it work. It's an interesting point, as trust is a fundamental aspect of any currency system", + "Interesting take, but unfortunately not the correct answer. Conventional currency isn't just about the aesthetics of its physical form, although I'm sure some people might argue otherwise", + "Haha, while it might be inconvenient to lug around a wallet full of cash, that's not the root problem with conventional currency. But don't worry, you can try again!" + ], + "question": "What is the root problem with conventional currency according to Satoshi Nakamoto", + "text": "So what was the motivation to create Bitcoin? In his announcement of the project, Satoshi Nakamoto gave the following explanation:\n\n\"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.\"\n", + "title": "What is the root problem with conventional currency according to Satoshi Nakamoto" + }, + "bitcoinCreator": { + "answers": [ + "An unknown programmer who used the pseudonym \"Satoshi Nakamoto\"", + "Craig Wright", + "Elon Musk" + ], + "feedback": [ + "Correct! It's an interesting mystery, but it's worth noting that the bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone", + "I'm sorry, but it looks like Craig Wright's claim to being the creator of bitcoin has been thoroughly debunked. Better luck with the next answer", + "Nope! Elon Musk's talents might be better suited to launching rockets and building electric cars rather than creating revolutionary digital currencies. Try again!" + ], + "question": "Who is the creator of bitcoin", + "text": "The creator of bitcoin, who used the pseudonym \"Satoshi Nakamoto,\" is unknown and no claims of being the creator have been verified. Satoshi was only involved in the project for a short time before disappearing.\n\nThe bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone.\n", + "title": "Who is the creator of bitcoin" + }, + "fiatRequiresTrust": { + "answers": [ + "The need for trusted third parties to make a currency work", + "Lack of a physical form for currency", + "Inflation caused by central authorities issuing more units" + ], + "feedback": [ + "Exactly. Bitcoin requires no trusted third party and allows for transactions to be made directly between individuals, called peer-to-peer, rather than through a central authority or intermediaries", + "Nope. That's not it. Try again", + "Arbitrary inflation of the money supply by centralized issuers is indeed a problem that bitcoin solves elegantly, but there's a more foundational problem that Satoshi addressed. Try again!" + ], + "question": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin", + "text": "The post-1971 fiat currency system requires trust at all levels because it is debt-based and lacks a scarce anchor. This includes trust in the ability to pay off debts in the future, trust in commercial and central banks not to debase the currency, and trust in their ability to allow access to and freedom to use funds for transactions.\n\nThis trust has been violated numerous times, including during the 2008/09 Global Financial Crisis. In order to address this issue, Satoshi Nakamoto aimed to create a digital form of money that did not require trusting third parties for transactions and could not be debased by a central authority issuing more units.\n", + "title": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin" + }, + "moneyPrinting": { + "answers": [ + "Asset bubbles in stock and real estate markets that experience corrections roughly every decade", + "A sudden increase in the popularity of polka music", + "A decrease in the number of people who believe in extraterrestrial life forms" + ], + "feedback": [ + "Bullseye! Asset bubbles in stock and real estate markets are indeed one of the main consequences of excessive money printing and credit expansion. It's worth noting that these bubbles often disproportionately benefit those closest to the source of new money, while lower income individuals are often the most affected by the inflation and economic booms and busts that result", + "That's not the right wavelength here! While some believe easy money has a negative impact on music, this is not the right answer", + "Your guess is out of this world. While it's certainly interesting to speculate about the existence of aliens, it has nothing to do with the consequences of excessive money printing and credit expansion." + ], + "question": "What is one of the main consequences of excessive money printing and credit expansion", + "text": "Excessive money printing and credit expansion can cause numerous social and economic issues, including asset bubbles in stocks and real estate markets which tend to experience corrections roughly every decade.\n\nWhile those closest to the source of new money often benefit greatly from these cycles, lower income individuals who don't own valuable assets and rely on regular paychecks are often the most affected by inflation and economic booms and busts created by the fiat currency system.\n\nA well-known example of this is the Global Financial Crisis that began in 2008, which was preceded by a significant accumulation of debt and risk in the commercial banking sector.\n", + "title": "What is one of the main consequences of excessive money printing and credit expansion" + }, + "genesisBlock": { + "answers": [ + "To take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system", + "To create a digital form of money that could be easily debased by a central authority", + "To make it easier for third parties to facilitate transactions" + ], + "feedback": [ + "That's exactly right. Take a wild guess what those financial elites think about bitcoin", + "No, silly. We already have that with fiat. Try again and think about Satoshi's message in the Genesis Block before you answer", + "Sorry, that's not quite right. While third parties can be useful for facilitating transactions, trust in these intermediaries was one of the issues that Satoshi Nakamoto aimed to address with the creation of Bitcoin. Maybe try again with a different answer." + ], + "question": "Why did Satoshi Nakamoto create Bitcoin", + "text": "It is clear why Satoshi Nakamoto created Bitcoin when we examine the first block of the Bitcoin blockchain, called the Genesis block.\n\nThis block was created by Satoshi when he launched Bitcoin in 2009 and includes a reference to banks receiving bailouts following the 2008/09 Global Financial Crisis.\n\n\"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks\"\n\nThis crisis, in which trust in traditional financial systems was severely damaged, inspired Satoshi to create a digital form of money that does not require trusting third parties for transactions and cannot be debased by a central authority issuing more units.\n", + "title": "Why did Satoshi Nakamoto create Bitcoin" + }, + "cypherpunks": { + "answers": [ + "The Cypherpunks are a group of individuals who seek to use cryptography to promote privacy and security in the digital age", + "The Cypherpunks are a group of hackers who aim to steal personal data and sensitive information through the use of cryptography", + "The Cypherpunks are a group of cryptographers who seek to create complex mathematical equations that are difficult to solve" + ], + "feedback": [ + "Well done! It's interesting to note that the Cypherpunks' goal of using cryptography to promote privacy and security is particularly relevant in today's digital age, where increasing surveillance can lead to the erosion of freedoms", + "Sorry, that's not quite right. While the use of cryptography can certainly be beneficial for hackers, the Cypherpunks seek to use cryptography for the opposite purpose. Maybe try again with a different answer", + "Nope. While cryptography does involve the use of complex mathematical equations, the Cypherpunks are not primarily interested in creating these equations for their own sake. Try again!" + ], + "question": "Who are the Cypherpunks and what is their goal", + "text": "Bitcoin is the result of decades of research work by a group of individuals who call themselves Cypherpunks. They are interested in using cryptography to promote privacy and security in a world where increasing surveillance in the digital age can lead to erosion of freedoms.\n\nEarlier digital cash systems that relied on peer-to-peer (P2P) networks had one or both of the following problems:\n\n * They required a central authority to manage the ledger of ownership.\n * The currency units could be copied, resulting in the \"double-spending problem\" where a single unit could be spent multiple times.\n\n Satoshi addressed both of these issues by combining existing technologies in the creation of Bitcoin. The first issue is resolved because the decentralized nature of the Bitcoin network means that there is no central authority that users need to trust. The second issue is addressed because the unique cryptographic techniques used in Bitcoin make it impossible to copy the currency units.\n", + "title": "Who are the Cypherpunks and what is their goal" + } + } + }, + "BitcoinHowDoesItWork": { + "title": "Bitcoin: How does it work?", + "questions": { + "peer2Peer": { + "answers": [ + "The blockchain", + "The internet", + "A decentralized network of nodes" + ], + "feedback": [ + "Correct! Satoshi was the first to successfully implement the blockchain - a concept first described in 1991 by Stuart Haber and W. Scott Stornetta. It's a decentralized form of bookkeeping that is resistant to tampering and allows users to make and verify transactions without the need for a central authority", + "No. The internet is a global network of interconnected computers, but it was not invented by Satoshi and does not solve issues of centralization and double spends. Try again", + "A decentralized network of nodes is an important part of Bitcoin, but it does not solve issues of centralization and double spends by itself. Try again!" + ], + "question": "Which technology did Satoshi implement to solve issues of centralization and double spends", + "text": "To solve the earlier mentioned issues of centralization and possible double spends, Satoshi invented a solution based on a decentralized network of nodes.\n\nNodes are computers that are in constant contact with each other. This by itself is nothing new. The internet itself has a similar infrastructure of interconnected nodes.\n\nAll bitcoin nodes, however, store a copy of the ledger of all transactions in the history of the Bitcoin network.\n\nThis new, decentralized form of bookkeeping, called blockchain, was first successfully implemented in Bitcoin and is extremely resistant to tampering.\n", + "title": "Which technology did Satoshi implement to solve issues of centralization and double spends" + }, + "blockchain": { + "answers": [ + "To create a tamper-evident record of all transactions on the blockchain", + "To ensure that blocks can be altered or replaced easily", + "To make sure that the Artificial Intelligence that created Bitcoin has enough computation power to take over the world" + ], + "feedback": [ + "Correct! The cryptographic hash function helps to create a tamper-evident record of all transactions on the blockchain, which can be used to verify the integrity of the data stored on the chain. Did you know that the cryptographic hash function is also an essential part of the proof-of-work mechanism that helps to secure the Bitcoin network", + "That's a hilarious idea, but no, the cryptographic hash function actually ensures the opposite. Try again", + "Ha! I'm not sure who told you that the Bitcoin blockchain was created by AI, but I think they might have been pulling your leg. Try again!" + ], + "question": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain", + "text": "The Bitcoin blockchain is a distributed database that maintains a continuously growing list of Bitcoin transactions called blocks.\n\nBlocks are anchored to each other through the use of cryptographic hashes. Each block contains a cryptographic hash of the previous block, as well as a timestamp and transaction data. This creates a chain of blocks that are all linked together, with each block building on the one before it.\n\nThe cryptographic hash function ensures that once a block has been added to the chain, it cannot be altered or replaced without also changing all of the subsequent blocks in the chain.\n\nThis creates a tamper-evident record of all transactions that have occurred on the blockchain, which can be used to verify the integrity of the data stored on the chain.\n", + "title": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain" + }, + "privateKey": { + "answers": [ + "To sign transactions and prove ownership of Bitcoins", + "To verify the ownership of a Bitcoin address", + "To make a stranger fall in love by posting it on social media" + ], + "feedback": [ + "Correct! The private key is used to sign transactions and prove ownership of Bitcoins. It's an essential part of the process of sending and receiving Bitcoin payments, and it's important to keep it secret and secure. Good job", + "Almost. **** While the private key can be used to verify the ownership of a Bitcoin address, that's not its primary purpose", + "Posting it on social media would be like posting your bank account login information online - it's a surefire way to get your Bitcoins stolen. Better stick to more traditional methods of winning someone's heart!" + ], + "question": "What is the purpose of the private key in a Bitcoin transaction", + "text": "Another cornerstone of Bitcoin is Public Key Cryptography that uses a pair of keys - a public key and a private key - to sign transactions and verify the ownership of Bitcoin addresses.\n\nThe private key is a long string of characters that is used to authorize Bitcoin transactions. It is often represented as a combination of 12 words (sometimes 24). Only in the correct order do the words result in the corresponding private key.\n\nWhoever knows the private key of a bitcoin address can control the bitcoin in that address. Therefore it is important that it is kept secret and never shared with anyone. Ideally, it should be stored offline, so that no unwanted program can access it. \n", + "title": "What is the purpose of the private key in a Bitcoin transaction" + }, + "publicKey": { + "answers": [ + "To generate an unlimited number of Bitcoin addresses from a single key", + "To authorize Bitcoin transactions", + "To verify that the supply of all bitcoin in existence does not exceed 21 million" + ], + "feedback": [ + "Correct! It's worth noting that, while funds can only be moved with the private key, it might be a good idea to not share the master public key on a public forum to preserve financial privacy. Only share Bitcoin addresses with payers to receive payments", + "No, the master public key is not used to authorize Bitcoin transactions. That's the job of the private key. Try again", + "No. While every user can independently verify the monetary supply of in the bitcoin network with a bitcoin node, this is not what the master public key is used for. Try again." + ], + "question": "What is the purpose of a master public key in Bitcoin", + "text": "A master public key in Bitcoin is a key that is cryptographically derived from a Bitcoin private key and is used to generate Bitcoin addresses that payers can send Bitcoin to.\n\nIt can be used to generate an unlimited number of Bitcoin addresses from a single master public key.\n\nWhile the private key is used to authorize Bitcoin transactions and therefore needs to be kept private, the Bitcoin addresses derived from the public key can be shared with a payer to receive payments from them.\n\nMaster public keys consist of a long sequence of numbers and letters and begin with xpub, ypub or zpub.\n\nA Bitcoin address for receiving payments starts with either 1, 3 or bc1.\n", + "title": "What is the purpose of a master public key in Bitcoin" + }, + "mining": { + "answers": [ + "To add transactions to the blockchain and secure the network", + "To make a lot of money", + "To amass giant amounts of computation power for AI to take over the world" + ], + "feedback": [ + "Correct! Miners perform work in the form of computations and compete with other miners for who can add the next block of transactions to the blockchain and earn the block reward", + "That's not the main purpose of mining. **** While it's true that miners do receive a reward in bitcoin for their efforts, they also have to pay for the electricity they use to perform computations. Try again", + "Wow, that's an ambitious goal! While it's true that mining requires a significant amount of computational power, I'm pretty sure the main purpose is not to create an army of AI overlords. Better luck next time!" + ], + "question": "What is the main purpose of mining in the bitcoin network", + "text": "When a user wants to send a transaction in the bitcoin network, they need to sign the transaction with their private key to prove that they are the owner of the funds being transferred. Once the transaction is signed, it is broadcasted to the peer-to-peer network.\n\nMining is the process of adding transactions to the bitcoin blockchain. When a transaction is broadcasted to the network, it is picked up by miners, who verify that the transaction is valid (i.e., the user has the necessary funds and the private key used to sign the transaction corresponds to the public key associated with the funds).\n\nOnce a transaction has been verified, it is added to a block of transactions, along with a mathematical puzzle. Miners compete to solve the puzzle, and the first one to solve it gets to add the block to the blockchain and claim a reward in bitcoin. The reward is currently 6.25 bitcoins, plus any transaction fees that were included in the block.\n\nIn addition to adding transactions to the blockchain, mining also serves to secure the bitcoin network. This is because solving the puzzle requires a significant amount of computational power, and adding a block to the blockchain requires other miners to verify the solution. This makes it very difficult for any one person or group to manipulate the blockchain.\n", + "title": "What is the main purpose of mining in the bitcoin network" + }, + "proofOfWork": { + "answers": [ + "Through proof of work, which involves miners competing to solve a mathematical puzzle", + "By holding a lottery among all those that have bitcoins in a wallet", + "Through a process of majority voting" + ], + "feedback": [ + "Correct! Congrats on understanding how the bitcoin network creates a source of truth that cannot be manipulated by wealthy elites or insiders", + "No, this would be proof of stake, which is a different consensus mechanism that involves choosing the next block producer proportional to their stake (how many coins they hold) in the network. Try again", + "Wrong, but it's an interesting idea. The bitcoin network does not use a process of majority voting to create a source of truth. Try again!" + ], + "question": "How does the Bitcoin network create a source of truth despite having no central authority", + "text": "Decentralized systems, by definition, do not have a single source of truth.\n\nSatoshi's breakthrough was to build a system that allows all participants to zero in on the same truth independently. Proof of work is what allows this to happen. The point of proof of work is to create an irrefutable history. If two histories compete, the one with the most work embedded in it wins.\n\nThe chain with the most work is the truth, by definition. This is called Nakamoto consensus. This works because work requires energy. In Bitcoin, work is computation. Not any kind of computation, but computation that has no shortcut: guessing.\n\n In the absence of a central authority, proof of work is necessary because it ensures that there is no shortcut to adding transactions to the blockchain.\n\n Miners must compete to solve the puzzle through brute force computation, which is probabilistic in nature, and the proof that the work has been done becomes self-evident in the outcome of the work. This makes it very difficult for any one person or group to manipulate the transaction history.\n", + "title": "How does the Bitcoin network create a source of truth despite having no central authority" + }, + "difficultyAdjustment": { + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "A crucial element of the Bitcoin protocol is the Difficulty Adjustment. This algorithm ensures that new blocks are found every 10 minutes on average.\n\nWhen more miners join the network, the average time required to find a new block goes down. In the opposite case, when miners leave the network, it takes longer to add a new block. The Difficulty Adjustment algorithm adjusts the difficulty of the mathematical puzzle to match changes in the combined computing power of all miners. This prevents the creation of more (or less) bitcoin units than the predetermined supply schedule.\n\nThis is in stark contrast to physical mining of precious metals like gold where adding more gold miners leads to a higher supply of gold and therefore a decrease in its price. In Bitcoin however, the addition of new miners only adds more security to the network.\n", + "title": "What happens to the block reward in the bitcoin network every four years" + }, + "halving": { + "answers": [ + "It is reduced by half", + "It is doubled", + "It is multiplied by a random number chosen by the bitcoin software" + ], + "feedback": [ + "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", + "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", + "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" + ], + "question": "What happens to the block reward in the bitcoin network every four years", + "text": "One final element that is important to understand, is that the block reward in the bitcoin network is reduced by half every four years, or every 210,000 blocks.\n\nThis event, known as the \"halving\", is programmed into the bitcoin software that all users run. When bitcoin was first launched, miners received 50 new bitcoins for each block they added to the blockchain. Currently, the block reward is 6.25 bitcoins, but it will be reduced to 3.125 bitcoins in 2024 when the next halving occurs.\n\nThese halvings will continue to take place until the year 2140, at which point the total number of bitcoins that will have been mined will be capped at 21 million. As of 2023, around 92% of all bitcoins (\\~19.3 million) have already been mined.\n\nUnlike fiat currencies, which can be inflationary, bitcoin is disinflationary in nature. This makes it more scarce than fiat and precious metals such as gold and silver, or anything else known in the universe.\n", + "title": "What happens to the block reward in the bitcoin network every four years" + } + } + }, + "LightningWhatDoesItSolve": { + "title": "Lightning: What does it solve?", + "questions": { + "bitcoinDrawbacks": { + "answers": [ + "It takes too long to confirm transactions", + "It is difficult to use", + "It is not a trusted intermediary" + ], + "feedback": [ + "Correct! Great job! You may be pleased to hear that solutions have been deployed to improve the settlement time of Bitcoin payments to a few seconds. ", + "Wrong! But you are forgiven, Bitcoin is actually very easy to use. Try again", + "Wrong! But don't worry, Bitcoin actually allows anyone to send value without a trusted intermediary. Try again!" + ], + "question": "What is a drawback of Bitcoin's design", + "text": "Bitcoin, the world's most widely used and valuable digital currency, allows anyone to send value without a trusted intermediary.\n\nThere are, however, some drawbacks to bitcoin's design which prioritizes security and decentralization at the cost of scalability.\n\nTransactions confirmed on the bitcoin blockchain take up to one hour before they are irreversible.\n\nMicropayments, or payments less than a few cents, are inconsistently confirmed, and fees render such transactions unviable on the network today.\n\nCurrently, Bitcoin's blockchain can process around 3 transactions per second. This is generally seen as an impediment for Bitcoin to become a currency that facilitates the everyday retail transactions of millions around the world.\n", + "title": "What is a drawback of Bitcoin's design" + }, + "blocksizeWars": { + "answers": [ + "Whether or not to increase the blocksize", + "Whether or not to censor certain transactions", + "Whether or not to change the consensus algorithm to proof of stake" + ], + "feedback": [ + "Correct. The users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network, showing that Bitcoin is controlled by users, not corporations", + "Not quite. Both sides were publicly in favor of preserving censorship-resistance, however companies in the Bitcoin ecosystem were willing to accept some centralization in exchange for quick wins in scalability. Try again", + "Haha, but no. While there are some dubious voices that demand the abolishment of proof of work in favor of proof of stake, this was never a debate in Bitcoin, and never will be. Try again." + ], + "question": "What was the contention in the Blocksize Wars", + "text": "These drawbacks lead to a debate within the Bitcoin community about the best way to scale the Bitcoin network, often dubbed the Blocksize Wars.\n\nCompanies in the Bitcoin ecosystem argued that increasing the blocksize, which is the maximum size of a block of transactions on the blockchain, would allow more transactions to be processed per second, making the network more efficient and able to handle a larger volume of transactions.\n\nBitcoin users on the other side of the debate argued that increasing the blocksize would centralize the network, as it would require more expensive and powerful computers to process the larger blocks, and could potentially lead to Bitcoin becoming prone to censorship.\n\nThe users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network and demonstrated that Bitcoin is controlled by users, not corporations. This also meant that scaling Bitcoin would require a different enigneering solution than merely increasing the blocksize.\n", + "title": "What was the contention in the Blocksize Wars" + }, + "lightningNetwork": { + "answers": [ + "It allows users to make small, near instant payments at low cost", + "It helps users preserve the decentralization of the Bitcoin network", + "It ensures that every transaction is added to the Bitcoin blockchain" + ], + "feedback": [ + "Correct! The Lightning Network allows users to make small, near instant payments at low cost, and it eliminates the need for every transaction to be added to the Bitcoin blockchain. Congrats! As a fun fact, the Lightning Network has helped increase the adoption of Bitcoin by allowing it to process more transactions per second and handle higher volumes of transactions", + "Incorrect! The Lightning Network is actually a scaling solution built on top of the Bitcoin protocol. Try again", + "Incorrect! The Lightning Network actually eliminates the need for every transaction to be added to the Bitcoin blockchain, as it allows for smaller payments to be made off-chain." + ], + "question": "What does the Lightning Network do", + "text": "While users prevailed and preserved the decentralization of the Bitcoin network, a solution to scale Bitcoin proposed by researchers Tadge Dryja and Joseph Poon, called the Lightning Network, started to gain traction and was launched in 2017.\n\nThe Lightning Network, often referred to as just Lightning or LN, is a scaling solution built on top of the Bitcoin protocol. It facilitates smaller, near instant payments between users at very low cost and eliminates the need for every transaction to be added to the Bitcoin blockchain whilst ensuring that the value being transacted abides by the rules of the Bitcoin network.\n", + "title": "What does the Lightning Network do" + }, + "instantPayments": { + "answers": [ + "A matter of seconds", + "10 minutes", + "1 hour" + ], + "feedback": [ + "Correct! This makes the Lightning Network a great option for situations where you need to make a payment immediately, such as retail transactions or peer-to-peer payments", + "Incorrect! On the Bitcoin network, transactions are grouped into blocks that are added to the blockchain about every 10 minutes. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure. Try again", + "Incorrect! On the Bitcoin network, payments are considered secure after they have been confirmed by six blocks, or about an hour. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure." + ], + "question": "How long does it take for a payment to be considered secure on the Lightning Network", + "text": "In the Bitcoin network, transactions are grouped together in blocks, and new blocks are added to the blockchain about every 10 minutes. When a payment is made using Bitcoin, it is considered secure after it has been confirmed by six blocks, or about an hour.\n\nOn the Lightning Network, payments do not have to wait for block confirmations to be considered secure. Instead, they are instant and completed all at once in a matter of few seconds.\n\nThis makes it possible to use the Lightning Network for retail transactions, peer-to-peer payments, or any other situation where you need to make a payment immediately.\n", + "title": "How long does it take for a payment to be considered secure on the Lightning Network" + }, + "micropayments": { + "answers": [ + "A payment for a small amount of money, often less than a dollar", + "A payment that requires a minimum amount and fixed fee", + "A payment made using the Lightning Network" + ], + "feedback": [ + "Exactly! These types of payments can be difficult to make using traditional financial systems or the Bitcoin network, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical", + "Nope**.** While traditional financial systems may require a minimum amount and fixed fee for payments, the Lightning Network allows for the possibility of making very small payments without these limitations", + "Not quite! While the Lightning Network does allow for the possibility of making micropayments, a micropayment is not defined as a payment made using the Lightning Network. Try again!" + ], + "question": "What is a micropayment", + "text": "Micropayments refer to very small financial transactions, often for amounts less than a dollar. These types of payments can be difficult to make using traditional financial systems, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical.\n\nThe Lightning Network allows for the possibility of making micropayments using Bitcoin. It enables users to send very small amounts of Bitcoin, down to 1 sat, without the risk of losing control of their funds to a third party (called \"custodial risk\"). \n\nIn contrast, the Bitcoin blockchain currently has minimum transaction amounts and fees that make micropayments impractical. The Lightning Network allows for minimal payments denominated in Bitcoin, using actual Bitcoin transactions. This opens up the possibility of creating new markets and making small payments more practical.\n", + "title": "What is a micropayment" + }, + "scalability": { + "answers": [ + "To meet the demand for retail and automated payments", + "To make Bitcoin more attractive to investors", + "To get the required licences for interoperability with financial institutions" + ], + "feedback": [ + "That's right. The Lightning Network helps the Bitcoin network achieve scalability by allowing users to conduct nearly unlimited transactions off-chain on a second layer", + "That's not it! While improving the attractiveness of Bitcoin to investors could be a benefit of improving scalability, it is not the main reason why scalability is important for the Bitcoin network", + "Try again! **** Obtaining required licenses for interoperability with financial institutions may be a goal for some organizations working with Bitcoin, but it is not directly related to the concept of scalability." + ], + "question": "Why is scalability important for the Bitcoin network", + "text": "Scalability refers to the ability of a system, such as a network or platform, to handle a large amount of usage or traffic without experiencing issues or slowdowns.\n\nScalability is important for Bitcoin because the network will need to be able to support a much higher volume of transactions in order to meet the demand of retail and automated payments.\n\nThe Lightning Network allows users to conduct nearly unlimited transactions between each other outside of the Bitcoin blockchain, or off-chain.\n\nThis means that transactions can be conducted without the need for each one to be recorded on the blockchain, which helps to reduce the load on the network and allows it to handle more transactions.\n", + "title": "Why is scalability important for the Bitcoin network" + }, + "paymentChannels": { + "answers": [ + "By pushing bitcoin from one side of the channel to the other each time a payment is made", + "By broadcasting every transaction immediately to the Bitcoin blockchain as soon as it happens", + "By paying a commission to a 3rd party payment provider" + ], + "feedback": [ + "That's right! Think of moving bitcoin in a Lightning channel like moving beads on an abacus. Each side keeps track of how much is on their side until it's time to settle on the Bitcoin blockchain. Good job", + "Quite the opposite! Payment channels in Lightning avoid broadcasting every transaction by aggregating them. Try again", + "Uhm no, actually payments in Lightning Network save the users fees for not settling every transaction on the blockchain. Try again!" + ], + "question": "How do payment channels in the Lightning Network allow users to pay each other", + "text": "The Lightning Network consists of thousands of two party payment channels.\n\nYou may think of a Lightning channel like opening a tab at your local bar. Instead of pulling out your wallet and paying each time you order a drink, it makes sense to save time, energy and fees by tallying all your drinks together at the end of the night and making the final settlement in one payment.\n\nLightning works similar. Each time a payment is made from person A to person B, bitcoin are pushed from one side of the channel to the other. Two users can pay one another back and forth as many times as they like, almost instantly and with close to no fees.\n", + "title": "How do payment channels in the Lightning Network allow users to pay each other" + }, + "routing": { + "answers": [ + "By using a network of intermediaries to route payments between users", + "By using teleportation to instantly transfer bitcoin from one user to another", + "By using a virtual reality simulation to simulate the transfer of bitcoin between users" + ], + "feedback": [ + "Correct! This is like delivering a package from one person to another by passing it along a series of friendly postmen! Congrats", + "Hah no, this isn't science-fiction from Star Trek, but real world cryptographic engineering! Try again", + "May I interest you for a simulation of a simulation? Jokes aside, this isn't it. Try again!" + ], + "question": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel", + "text": "You may be thinking that setting up a payment channel with hundreds of businesses could be tedious, but no. The beauty of the Lightning Network is that it is a network of channels stitched together.\n\nLet us say Bob convinced his friend Carol to also join the Lightning Network. Alice has a channel with Bob, and Bob has a channel with Carol. Alice and Carol can then pay each other by “routing” through Bob.\n\nSome pretty clever cryptographic tricks guarantee that Bob cannot steal the money while it’s passing through him.\n\nWhen you make a payment on the Lightning Network, your node searches for a path of channels between you and your destination. This is what’s referred to as routing. This is of course all done automatically by the involved Lightning nodes, enabling it to happen in the blink of an eye.\n", + "title": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel" + } + } + }, + "BitcoinCriticismsFallaciesI": { + "title": "Bitcoin Criticisms & Fallacies I", + "questions": { + "itsaBubble": { + "answers": [ + "It has consistently gone up", + "It has consistently gone down", + "It has gone up and down randomly" + ], + "feedback": [ + "Well done! You seem to have a good grasp on the overall trend of bitcoin's exchange rate. Despite some fluctuations, it has consistently been on the rise. Keep up the good work", + "I'm sorry, that's not quite right. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been consistently downward. Try again", + "Sorry, that's incorrect. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been completely random. Keep trying!" + ], + "question": "How has the exchange rate of bitcoin trended over time", + "text": "Over the years, bitcoin has often been called a bubble by various people. While its price has had several significant declines that may have warranted this label, the overall trend for bitcoin has been consistently upward.\n\nCritics who have proclaimed the death of bitcoin after each market cycle have been proven wrong, as the nascent digital money has continued to thrive despite their predictions. As these critics run out of analogies to use, it has become clear that their accusations are unfounded.\n", + "title": "How has the exchange rate of bitcoin trended over time" + }, + "itstooVolatile": { + "answers": [ + "Buyers and sellers reaching agreements in real-time", + "Government intervention", + "The phase of the moon" + ], + "feedback": [ + "You're correct! The primary factor influencing the volatility of bitcoin's price is actually the agreements reached in real-time between buyers and sellers", + "I'm sorry, that's not quite right. While government intervention can certainly affect the price of bitcoin, it is not the primary factor influencing its volatility", + "Sorry, that's incorrect. While the phase of the moon may have some strange effects on certain things, it does not play a significant role in the volatility of bitcoin's exchange rate. Keep trying!" + ], + "question": "What is the primary factor influencing the volatility of bitcoin's exchange rate", + "text": "It is subjective to expect bitcoin to maintain a specific price range, as it is traded around the clock, every day of the year, across the world. There are no requirements for registration, bank holidays, circuit breakers, or bailouts in the bitcoin market, which operates as a truly free market.\n\nAny and all volatility in bitcoin's price is the result of buyers and sellers reaching agreements in real-time without interference from governments. As bitcoin continues its journey towards becoming a primary global store of value in the Information Age, it is unrealistic to assume that its progress would be linear.\n\nAs adoption of bitcoin increases, it becomes less risky and potential upside decreases, leading to a decrease in volatility.\n", + "title": "What is the primary factor influencing the volatility of bitcoin's exchange rate" + }, + "itsnotBacked": { + "answers": [ + "The credibility of its monetary properties", + "Rarity", + "The color purple" + ], + "feedback": [ + "Spot on! According to Parker Lewis, the only thing that backs any money is the credibility of its monetary properties", + "That's not quite right. While rarity can certainly contribute to the value of money, it is not the only thing that backs it. Try again", + "That's incorrect. While the color purple may be a beautiful and regal choice for a currency, it does not actually play a role in backing money." + ], + "question": "What is the only thing that backs any money, according to Parker Lewis", + "text": "The idea of backed money is contradictory, as the backing itself would then be considered money. Part of the value of money comes from its rarity. Bitcoin does not need to be backed by something else that is rare because it is inherently scarce.\n\nVerifiable and auditable through independent means, bitcoin is free of counterparty risk. There is no third party that must be trusted to keep and secure commodities or assets. If anything, it is possible that the future will be backed by bitcoin.\n\nAs Parker Lewis stated, \"Ultimately, bitcoin is backed by something, and it's the only thing that backs any money: the credibility of its monetary properties.\"\n", + "title": "What is the only thing that backs any money, according to Parker Lewis" + }, + "willbecomeObsolete": { + "answers": [ + "No, it is not possible for bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Yes, it is possible that bitcoin could become obsolete if a more secure or widely used digital monetary network is developed.", + "that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that" + ], + "feedback": [ + "bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", + "Well, you're not wrong about that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that", + "Uh oh, looks like you're playing it safe but not quite hitting the mark. While it's true that no one can predict the future, it's pretty clear that bitcoin has a solid grip on the digital monetary network game. Try again." + ], + "question": "Is it possible that bitcoin becomes obsolete one day", + "text": "Bitcoin represents a unique discovery of absolute scarcity, similar to the discovery of fire, electricity, or the field of mathematics.\n\nIt is not logical or possible to compete with bitcoin in terms of scarcity, as there is no level of scarcity higher than absolute scarcity. Criticisms of bitcoin's perceived limitations or drawbacks assume that there are no trade-offs in terms of security and incentive design, or that bitcoin's current form does not already provide significant benefits to millions of users.\n\nAs a rapidly growing, unrestricted network with a 99.98% uptime over more than a decade, having processed trillions of dollars in value and secured by billions of dollars in hardware, it is unlikely that bitcoin will be displaced as the dominant digital monetary network at this point.\n\nAs Michael Saylor stated, \"There's never been an example of a $100B monster digital network that was vanquished once it got to that dominant position.\"\n", + "title": "Is it possible that bitcoin becomes obsolete one day" + }, + "toomuchEnergy": { + "answers": [ + "It helps to even out the distribution of energy consumption around the world.", + "It increases the distribution of energy consumption around the world.", + "It decreases the distribution of energy consumption around the world." + ], + "feedback": [ + "You got it right. Did you know that bitcoin's fixed energy price helps to incentivize the use of renewable energy sources in areas where they may not have been economically viable before", + "Well, I see you're a fan of chaos and global energy inequality, but this answer is wrong", + "Looks like you're trying to save the world one energy imbalance at a time. This answer is clearly incorrect." + ], + "question": "How does bitcoin impact global energy consumption", + "text": "Bitcoin is a decentralized digital currency that is accessible to users around the world and is resistant to censorship due to its Proof of Work mechanism.\n\nWith an estimated four billion people currently living under authoritarianism, bitcoin provides a way for individuals to send, receive, save, and transport wealth. It is important to consider the amount of energy that a monetary network like this should consume and to carefully evaluate who is best equipped to make decisions about this.\n\nOne way to think about the impact of bitcoin on global energy consumption is to imagine a topographic map of the world, with local electricity costs represented by the peaks and troughs. Adding bitcoin to the mix is like pouring a glass of water over the map - it settles in the troughs, smoothing them out. This is because bitcoin is a global buyer of energy at a fixed price, which helps to even out the distribution of energy consumption around the world.\n", + "title": "How does bitcoin impact global energy consumption" + }, + "strandedEnergy": { + "answers": [ + "By using it to power onsite equipment that generates hashes to produce bitcoin", + "By selling it on the bitcoin market", + "By creating a new form of renewable energy" + ], + "feedback": [ + "Congratulations! You've correctly identified the use of excess energy in bitcoin mining. Did you know that this process can be done in any location, even in areas where there is no local demand for the energy being generated", + "I see you're a fan of making money through unconventional means. Too bad that's not what this lesson is about. Try again", + "It looks like you're trying to save the world one renewable energy source at a time. While that's admirable, unfortunately that's not the right answer." + ], + "question": "How can excess energy be used through bitcoin mining", + "text": "Exactly**.** Bitcoin mining provides a portable solution for utilizing energy assets in regions where there is no local demand or means of transportation. By using onsite equipment to generate hashes, it is possible to produce bitcoin, which can then be held for future value appreciation or sold on the highly liquid and globally accessible bitcoin market.\n", + "title": "How can excess energy be used through bitcoin mining" + } + } + }, + "BitcoinCriticismsFallaciesII": { + "title": "Bitcoin Criticisms & Fallacies II", + "questions": { + "internetDependent": { + "answers": [ + "By sending a transaction via SMS", + "By posting a message on a social media platform", + "By sending an email" + ], + "feedback": [ + "You've identified a way to send bitcoin transactions even when the internet is down. Good thinking", + "Well, it looks like you're trying to stay connected in the digital age even during an internet outage, but that's incorrect", + "I see you're trying to stay connected through traditional means, but unfortunately sending an email might not be the most reliable way to send bitcoin transactions during an internet outage. Try again!" + ], + "question": "How can bitcoin transactions be sent in the event of an internet disruption", + "text": "There is a risk, of course, that internet access may be lost due to infrastructure failures, natural disasters, or intentional outages. However, it is possible to transact bitcoin using offline methods and other communication networks.\n\nFor instance, a signed bitcoin transaction can be transmitted to a single node and broadcast to the network for inclusion in a block by miners. There are various ways to do this, such as sending a transaction via SMS, using a physical wallet with a one-time use tamper-evident private key, or receiving blocks via satellite. These options allow for bitcoin to be used even in the event of an internet disruption.\n", + "title": "How can bitcoin transactions be sent in the event of an internet disruption" + }, + "forcrimeOnly": { + "answers": [ + "No", + "Yes", + "It depends on the individual circumstances" + ], + "feedback": [ + "Well done! You've correctly identified that it is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.", + "I see you're a fan of sensational headlines and jumping to conclusions. Unfortunately, that's not based in reality", + "It looks like you're trying to take a balanced approach, but is not accurate to make this claim regardless of individual circumstances. Try again." + ], + "question": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity", + "text": "Bitcoin is a neutral tool for exchanging value, and it has no inherent beliefs, opinions, or values. Its meaning is determined by how it is used. It is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.\n\nCrime does not stem from access to tools, but rather from individual circumstances. If bitcoin is useful, it can be used by anyone, including criminals. If it is not useful, it cannot be used by anyone, including criminals.\n\nAs Parker Lewis stated, \"There is nothing inherent about the tools used to facilitate crimes that makes them criminal in themselves. Despite criminal use, no one is calling for the ban of roads, the internet, mail, etc.\"\n", + "title": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity" + }, + "ponziScheme": { + "answers": [ + "It is a form of money", + "It is a ponzi scheme", + "It is an open-source investment scheme" + ], + "feedback": [ + "Congratulations! You've earned some sats for correctly identifying that bitcoin is a form of money. Did you know that bitcoin was the first decentralized digital currency to be created, and it operates without a central bank or single administrator", + "Ah hah! You fell for the old ponzi scheme trick! Just kidding, but seriously, that's not what bitcoin is", + "Nope, sorry! Bitcoin isn't an open-source investment scheme. But hey, at least you're learning about it, right?" + ], + "question": "Which of the following statements is true about bitcoin", + "text": "Calling bitcoin a ponzi scheme shows a lack of understanding of both bitcoin and the definition of a ponzi scheme. A ponzi scheme involves promises of above-market returns to investors, but as a permissionless network, bitcoin does not have a central authority that can make such promises.\n\nAdditionally, bitcoin is not an investment scheme, it is a form of money. Unlike opaque investment opportunities that may be promoted to unsuspecting individuals, bitcoin's code is open-source and its supply can be independently verified at all times.\n", + "title": "Which of the following statements is true about bitcoin" + }, + "bitcoinisTooSlow": { + "answers": [ + "Credit card payments go through multiple parties before reaching the merchant, while bitcoin payments go directly to the recipient without intermediaries", + "Credit card payments are final once they are confirmed, while bitcoin payments can be reversed", + "but at least you're learning about bitcoin" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin payment mastery. You seem to understand that bitcoin operates without a central bank or single administrator", + "Uh oh, looks like you might have gotten the wrong answer, but at least you're learning about bitcoin", + "Nope, sorry! Credit card payments are being censored all the time, but good try. Keep learning about bitcoin!" + ], + "question": "What is the main difference between paying with a credit card and paying with bitcoin on-chain", + "text": "Paying with bitcoin is not the same as using a credit card to make a purchase. When you use a credit card, your payment goes through multiple parties before reaching the merchant's bank account after days or even weeks of processing.\n\nIn contrast, when you pay with bitcoin on the main blockchain, you are sending actual money directly to the recipient without any intermediaries. This means there is no risk of censorship and the transaction is considered final once it has been confirmed by six blocks on the blockchain.\n\nThe proper comparison would be between bitcoin base layer and the Fed as currency issuer and as a clearing mechanism.\n\nSince the advent of the Lightning Network, the \"Bitcoin is too slow\" criticism has largely fallen silent.\n", + "title": "What is the main difference between paying with a credit card and paying with bitcoin on-chain" + }, + "supplyLimit": { + "answers": [ + "Through a decentralized consensus process in which every transaction is independently validated by nodes on the network", + "Through a centralized process in which a single authority controls the issuance of new coins", + "By fixing the maximum supply at an arbitrary number, such as 100 million" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin supply mastery. Did you know that the decentralized nature of the bitcoin network allows for greater transparency, as every transaction is independently validated by nodes on the network", + "Nope, sorry! Bitcoin's supply isn't controlled by a central authority. Try again", + "Uh oh, looks like you might have gotten the wrong answer. The maximum supply of bitcoin is fixed at 21 million, not 100 million. But at least you're learning about bitcoin!" + ], + "question": "How is the supply of bitcoin protected from being corrupted", + "text": "Bitcoin's decentralized nature allows for its supply to be independently validated by each node on the network, ensuring that it cannot be corrupted. This is achieved through a consensus process in which every transaction that has been confirmed on the bitcoin network is independently validated.\n\nWhile anyone can fork the code and make changes to the rules, it is unlikely that this version of the code would be adopted by the wider network. The decentralized consensus process and the incorruptible supply of bitcoin are crucial to its appeal as a form of money.\n\nThe maximum supply of bitcoin is fixed at 21 million, and any attempt to increase this limit would require consensus from a significant portion of the bitcoin network, which is highly unlikely to happen.\n", + "title": "How is the supply of bitcoin protected from being corrupted" + }, + "governmentBan": { + "answers": [ + "No, because the decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Yes, by preventing the generation of random numbers", + "Yes, by shutting down the internet" + ], + "feedback": [ + "Correct. The decentralized nature of the bitcoin network makes it difficult to enforce a ban", + "Nope, silly! While it is technically possible for governments to ban bitcoin, it would be nearly impossible to enforce such a ban. Try again", + "Uh oh, looks like you might have gotten the wrong answer. Shutting down the internet wouldn't necessarily stop people from using bitcoin." + ], + "question": "Can governments effectively ban bitcoin", + "text": "It is technically possible for governments to ban bitcoin, but enforcing such a ban would be difficult due to the decentralized nature of the bitcoin network.\n\nBitcoin relies on private keys, which are simply random numbers, to control access to transactions recorded on the blockchain. These private keys can be generated and stored anywhere, making them largely undectectable.\n\nAdditionally, the infrastructure required to access the bitcoin network is relatively simple and widely available, making it easy for people to trustlessly verify transactions.\n\nAs Saifedean Ammous said, \"Banning bitcoin is not much different from trying to ban math. It will just prove its utility & drive more people to it.\"\n", + "title": "Can governments effectively ban bitcoin" + } + } + }, + "BitcoinCriticismsFallaciesIII": { + "title": "Bitcoin Criticisms & Fallacies III", + "questions": { + "concentratedOwnership": { + "answers": [ + "Yes, but these wallets belong to exchanges that have millions of customers", + "Yes, and these wallets belong to individuals who have hoarded large amounts of bitcoin", + "No, the vast majority of bitcoin is evenly distributed among a large number of users" + ], + "feedback": [ + "Congratulations! You've unlocked the ultimate bitcoin wallet mastery. Did you know that it is generally considered best practice to keep bitcoin in a self-hosted wallet for security and privacy reasons", + "Nope, sorry! While it is technically true that a small number of wallets hold the majority of all bitcoin, these wallets don't necessarily belong to individuals who have hoarded large amounts of bitcoin. Keep learning about bitcoin", + "Uh oh, looks like you might have gotten the wrong answer. The distribution of bitcoin among users is not necessarily even. But at least you're learning about bitcoin!" + ], + "question": "Is it true that a small number of wallets hold the majority of all bitcoin", + "text": "It is often said that a small number of wallets hold the majority of all bitcoin. While this is technically true, it is important to note that these wallets are typically owned by exchanges that have millions of customers.\n\nMany people choose to leave their bitcoin on an exchange, but it is generally considered best practice to keep bitcoin in a personal wallet for security and privacy reasons.\n\nIt is also worth noting that a single bitcoin address can contain bitcoin belonging to multiple users, and a single user can control multiple wallets. To maintain privacy, it is recommended to generate a new address for each receiving transaction instead of reusing the same address.\n", + "title": "Is it true that a small number of wallets hold the majority of all bitcoin" + }, + "centralizedMining": { + "answers": [ + "No, because they have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain", + "Yes, because they have a majority of the hashing power", + "Yes, but only if they are acting in their own self-interest" + ], + "feedback": [ + "Yep, that's right. Did you know that the decentralized nature of the bitcoin network ensures that no single entity, including mining pools, can disrupt the network or censor transactions", + "Nope, sorry! While mining pools do have a significant amount of hashing power, individual miners are extremely mobile and can trivially direct their hashrate to an honest mining pool", + "Incorrect. While it is true that mining pools have an incentive to act in their own self-interest, this does not mean that they can disrupt the bitcoin network or censor transactions." + ], + "question": "Can mining pools disrupt the bitcoin network or censor transactions", + "text": "Some people believe that mining pools, which are groups of miners that work together to increase their chances of finding a block, could potentially disrupt the bitcoin network or censor transactions.\n\nHowever, this concern stems from a lack of understanding of the incentives of miners and their role in the network. In reality, miners have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain, as their own profits depend on it.\n\nAs Jimmy Song said, \"A majority of hashing power can't: take coins you already possess away, change the rules of bitcoin, or hurt you without hurting themselves.\"\n", + "title": "Can mining pools disrupt the bitcoin network or censor transactions" + }, + "tooExpensive": { + "answers": [ + "By comparing the entire market capitalization of bitcoin to that of other asset classes", + "By comparing the unit price of one bitcoin to the unit price of another asset, such as gold", + "By consulting a crystal ball and going with your gut feeling" + ], + "feedback": [ + "Congratulations, you're on the right track! It's important to consider the entire market cap of bitcoin when comparing it to other assets. Did you know that the total market cap of bitcoin reached over $1 trillion in 2021", + "Uh oh, it looks like you might have fallen for the unit bias trap! Better luck next time", + "Sorry, consulting a crystal ball might work for predicting the weather, but it's not a reliable way to assess the value of bitcoin. Better luck next time!" + ], + "question": "How can you accurately compare the value of bitcoin to other assets", + "text": "One common misconception about bitcoin is that it is too expensive to purchase.\n\nHowever, this belief is based on unit bias, as it is more accurate to compare the entire market capitalization of bitcoin to other assets rather than just the unit price of a single bitcoin.\n\nIt's also worth noting that a single bitcoin can be divided into 100 million smaller units called satoshis. As the saying goes, \"you can buy a fraction of a bitcoin!\"\n", + "title": "How can you accurately compare the value of bitcoin to other assets" + }, + "prohibitivelyHigh": { + "answers": [ + "The efficiency and reliability of the bitcoin network as a settlement layer", + "The use of secondary layers such as lightning, liquid, or federated side-chains for smaller transactions", + "The fact that bitcoin is still a relatively new technology and has not yet reached its full potential" + ], + "feedback": [ + "Congratulations, you've hit the nail on the head! The efficiency and reliability of the bitcoin network certainly play a role in keeping transaction fees low. Did you know that the bitcoin network can process up to 7 transactions per second, making it faster than some traditional payment systems", + "Nice try, but it looks like you're missing a key piece of information. Try again", + "Sorry, but being a newer technology does not necessarily equate to lower transaction fees. Better luck next time!" + ], + "question": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems", + "text": "Another misconception about bitcoin is that its transaction costs are prohibitively high.\n\nHowever, confirmed transactions on the main layer of bitcoin provide a level of finality that is unmatched in the traditional financial system. While it is true that transaction fees may occasionally spike due to the limited capacity of each block, the bitcoin network remains an efficient and reliable settlement layer for high-value transactions.\n\nIn fact, according to Saifedean Ammous, \"between October 2010 and July 2021, the average daily transaction fees came up to around 0.02% of the value of the transactions.\"\n\nIn addition, smaller transactions, including microtransactions, are often migrated to secondary layers such as lightning, liquid, or federated side-chains where fees are significantly lower than those offered by retail banks.\n", + "title": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems" + }, + "willBeHoarded": { + "answers": [ + "No, holding bitcoin is a way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Yes, holding bitcoin is the same thing as hoarding bitcoin", + "It depends on the individual's intentions and financial goals" + ], + "feedback": [ + "Congratulations, you're on the right track! As Pierre Rochard pointed out, 'all bitcoin are always held by someone, payments only change who is holding it.' Well done", + "Uh oh, it looks like you might have fallen for the hoarding misconception! Holding bitcoin is a common way to hedge against future uncertainty and does not necessarily mean it is not being used", + "Sorry, but the distinction between holding and hoarding bitcoin is not dependent on an individual's intentions and financial goals. Better luck next time!" + ], + "question": "Is holding bitcoin the same thing as hoarding bitcoin", + "text": "There is a common belief that the fixed supply of bitcoin incentivizes hoarding, or the act of holding onto bitcoin rather than spending it in the economy.\n\nHowever, this logic has a few flaws. First, saving, or the act of setting aside income for future use, is often conflated with hoarding. In fact, saving is a necessary precursor to significant investment and can be seen as a responsible financial practice.\n\nSecond, holding onto bitcoin, or any form of money, is a common way to hedge against future uncertainty and does not necessarily mean that it is not being used.\n\nAs Pierre Rochard pointed out, \"all bitcoin are always held by someone, payments only change who is holding it.\" In other words, the act of holding bitcoin is itself a use of bitcoin.\n", + "title": "Is holding bitcoin the same thing as hoarding bitcoin" + }, + "canBeDuplicated": { + "answers": [ + "The code is heavily scrutinized and rigorously developed, ensuring its security and transparency", + "The fact that it is open source allows for a meritocracy and encourages the \"hive mind\" to build solutions", + "It is backed by a large and influential group of investors" + ], + "feedback": [ + "That's exactly right! The code of bitcoin is indeed heavily scrutinized and rigorously developed, which adds to its value. In fact, @BTCSchellingPt noted that Bitcoin Core is probably one of the most heavily scrutinized code bases in the world", + "Nice try, but the value of bitcoin lies not only in its code but also in the community and infrastructure surrounding it. Better luck next time", + "Sorry, the value of bitcoin is not solely determined by the backing of a group of investors. Better luck next time!" + ], + "question": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone", + "text": "One argument against the value of bitcoin is that it is not scarce because there are thousands of other cryptocurrencies available and because anyone can copy the code and create their own version.\n\nHowever, this overlooks the fact that bitcoin is more than just a piece of code. It is an open source protocol for transferring value that attracts people and resources due to its transparency and rigorous development process.\n\nAs @BTCSchellingPt noted, \"open source is very much a meritocracy. You've got the hive mind building solutions. You get all that scrutiny and that comes back to security. Bitcoin Core is probably one of the most heavily scrutinized code bases in the world.\"\n\nIn other words, the value of bitcoin lies not only in its code, but also in the community and infrastructure that surrounds it.\n", + "title": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone" + } + } + }, + "BitcoinAndEconomicsI": { + "title": "Bitcoin and Economics I", + "questions": { + "scarcity": { + "answers": [ + "A resource that is limited in quantity or availability and can lead to competition for possession", + "A resource that is abundant and easy to come by", + "A resource that can only be obtained through time travel" + ], + "feedback": [ + "Remark:** Correct! Good job, you understood the concept of scarcity. Scarcity can lead to competition and can affect the value of goods and services in a free market", + "Wrong! Sorry to burst your bubble, but if something is easy to come by, it can't be scarce", + "Wrong! Time travel is a great idea for a sci-fi movie, but it doesn't have anything to do with scarce resources." + ], + "question": "What is a scarce resource", + "text": "When there are not enough resources to go around, people and organizations compete for them.\n\nThis competition is often reflected in the price of goods and services in a free market. If the demand for a particular resource increases faster than the supply, it can become scarce and more valuable.\n\nMoney is often used as a way to buy things because it is easy to trade and is valuable because it is scarce. Bitcoin is a digital form of money that has a fixed supply, which makes it rare and valuable.\n\nThe idea that there is never enough of something to go around is a basic principle of economics, but it is often ignored in political decisions.\n", + "title": "What is a scarce resource" + }, + "monetaryPremium": { + "answers": [ + "The difference in value between something's use as money and its value for its other uses", + "An extra fee added to the price of goods and services", + "A monetary premium has nothing to do with paying extra for things" + ], + "feedback": [ + "Congratulations! You know your stuff when it comes to monetary premiums. A monetary premium is the additional value that something can have when it is used as a substitute for money. Good job", + "Sorry, wrong answer! A monetary premium has nothing to do with paying extra for things", + "Nope! A monetary premium is not a discount, it's actually the opposite." + ], + "question": "What is a monetary premium", + "text": "If the value of money is not based on its scarcity, it may not be as reliable as a way to store wealth. In this case, other things that are scarce, such as assets or resources, may become more valuable and be used as a substitute for money.\n\nThis additional value is known as a monetary premium. When the usual form of money is not working well, people may turn to other things that are rare or hard to obtain as a way to exchange value.\n\nSome historical forms of money had no other use or value besides being used as a way to trade for other things. The difference between the value of something as money and its value for its other uses is the monetary premium.\n", + "title": "What is a monetary premium" + }, + "greshamsLaw": { + "answers": [ + "A law that explains how people tend to use different types of currency in different ways when they are in circulation together", + "A law that says people will always choose to spend the more valuable currency when given a choice", + "Gresham's Law actually explains the opposite behavior" + ], + "feedback": [ + "Good job, you understood Gresham's Law. This law explains how people tend to save the more valuable currency and spend the less valuable one when given the choice. Interesting fact: Gresham's Law can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver", + "Sorry, wrong answer! Gresham's Law actually explains the opposite behavior", + "Ha! That's a funny answer, but unfortunately it's not correct." + ], + "question": "What is Gresham's Law", + "text": "Gresham's Law is a concept that explains how people tend to use different types of currency in different ways when they are in circulation together.\n\nIf two forms of currency are given equal value by a government or other authority, but one is made of a more valuable material, people will be more likely to save the more valuable currency and spend the less valuable one.\n\nThis can happen when a government debases its currency, or makes it worth less, by decreasing the amount of valuable material it contains. The result is that people lose trust in the debased currency and prefer to hold onto the more valuable one instead.\n\nThis principle can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver, if the supply of the currency is increased in a way that makes it worth less.\n\nIn recent years, the emergence of bitcoin as a digital currency has led to a trend of people saving in bitcoin and spending their traditional currency, or \"fiat,\" more quickly. This is because bitcoin is seen as having a higher long-term value and being more stable than fiat currencies.\n", + "title": "What is Gresham's Law" + }, + "thiersLaw": { + "answers": [ + "A law that discusses what might happen if people and businesses refuse to accept or use a lower quality form of currency", + "A law that says people will always choose the more valuable currency when given a choice", + "A law that says people will always choose the less valuable currency when given a choice" + ], + "feedback": [ + "Correct! Good job, you understood Thier's Law. This law discusses what might happen if people and businesses refuse to accept a lower quality form of currency. Interesting fact: Thier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored", + "Wrong answer! Gresham's Law explains this behavior, not Thier's Law", + "Sorry, try again! Thier's Law is not about always choosing the less valuable currency." + ], + "question": "What is Thier's Law", + "text": "Thier's Law is a concept that discusses what might happen if people and businesses refused to accept or use a lower quality form of currency.\n\nInstead of disappearing from circulation, the higher quality form of money might be traded at a premium, or for a higher value than its face value.\n\nThier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored.\n\nIn other words, people and businesses may choose not to accept the lower quality currency and instead prefer to use the higher quality one or other forms of payment.\n", + "title": "What is Thier's Law" + }, + "cantillonEffect": { + "answers": [ + "A phenomenon that occurs when new money is introduced into an economy, causing some prices to increase more than others and leading to an uneven distribution of wealth.", + "A mysterious force that causes people to turn into cantaloupes whenever they eat too much fruit.", + "A dance move that involves spinning around in circles while holding a bunch of cantaloupes." + ], + "feedback": [ + "Congratulations, you are correct! The Cantillon Effect is indeed a process that can influence the distribution of wealth in an economy. Good job", + "Sorry, but the Cantillon Effect doesn't have anything to do with fruit transformation. Better luck next time", + "Sorry, but the Cantillon Effect is not a dance move, no matter how much you love cantaloupes. Better luck next time!" + ], + "question": "What is the Cantillon Effect", + "text": "The Cantillon Effect is a phenomenon that occurs when new money is introduced into an economy.\n\nWhen new money is added, it tends to go to certain people or businesses first, and these initial recipients have an advantage over others because they get to use the new money before prices go up.\n\nThis causes the prices of some goods and services to increase more than others, which means that the people who get the new money first benefit while those who get it later are disadvantaged.\n\nThis effect was first described by economist Richard Cantillon in the context of commodity money, such as gold and silver, but it is even more relevant today in the age of fiat money.\n\nWhen a government or central bank creates a lot of new fiat money, it can lead to increased prices and uneven distribution of wealth, as some people and businesses are able to access credit more easily and benefit from rising asset prices.\n", + "title": "What is the Cantillon Effect" + }, + "schellingPoint": { + "answers": [ + "A solution that people tend to choose by default in the absence of communication", + "A type of point system used in online multiplayer games", + "A point on the earth's surface where all the planet's magnetic forces are balanced" + ], + "feedback": [ + "You got it right. Did you know that a Schelling point can occur in multiplayer cooperative games and communication networks, and can be facilitated by standardized protocols like money", + "Wrong! But at least you're thinking about points. Maybe try again and focus on communication this time", + "Ha! You're off by a whole planet. Maybe try again and focus on the concept of default choices in the absence of communication." + ], + "question": "What is a Schelling point", + "text": "A Schelling point is a solution that people tend to choose by default, without communicating with each other.\n\nThis can happen in multiplayer cooperative games, where you have to anticipate the choices of others. If you make the wrong choice, you might face consequences or miss out on benefits.\n\nCommunication works the same way - it's like a multiplayer cooperative game played with others in the same network. We use standardized protocols (like email, spoken language, or money) to communicate efficiently with as many people as possible, with as little friction as possible. This can lead to increased trade, knowledge exchange, and innovation.\n\nIn the digital world, people tend to choose the same option (the Schelling point) when exchanging value. This is because they expect that others will also choose it.\n\nThe option that becomes the Schelling point is the one that communicates price signals most accurately, allowing market participants to coordinate with each other.\n\nBitcoin is a protocol for exchanging value that has several advantages over traditional currencies (called \"fiat\"). For example, it has a fixed supply and its value has generally increased over time, while fiat currencies often lose value. Additionally, the bitcoin network is permissionless, global, and indestructible. All of these factors make bitcoin a natural Schelling point for money.\n", + "title": "What is a Schelling point" + } + } + }, + "BitcoinAndEconomicsII": { + "title": "Bitcoin and Economics II", + "questions": { + "opportunityCost": { + "answers": [ + "The cost of not being able to do something else when you choose to do one thing", + "A type of cost that only applies to business owners", + "The cost of buying a new car" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that opportunity cost can help you make better financial decisions by considering the trade-offs involved in different options", + "Wrong! Opportunity cost applies to anyone who makes a choice, not just business owners. Maybe try again and think about the trade-offs involved in decision-making", + "Ha! That's not quite right. The cost of buying a new car is a specific type of expense, not the same thing as opportunity cost. Maybe try again and think about the concept of trade-offs in decision-making." + ], + "question": "What is opportunity cost", + "text": "Opportunity cost is the idea that when you choose to do one thing, you can't do something else instead. In other words, every time you make a financial decision, you have to trade off one option for another.\n\nBitcoin can help you make better financial decisions in the long term because it's a good way to store value (like saving money). This means that if you choose to invest in bitcoin, you might have to give up using that money for other things or opportunities. But if you hold onto your bitcoin, it has the potential to increase in value over time.\n\nThis is especially important right now because the traditional monetary system (called \"fiat\") is not a reliable way to save money - it's designed in a way that causes the value of money to go down over time. So, it's important to make careful financial decisions to preserve your wealth.\n", + "title": "What is opportunity cost" + }, + "timePreference": { + "answers": [ + "The amount of value you place on the present versus the future", + "A preference for doing things at a specific time of day", + "A preference for traveling through time" + ], + "feedback": [ + "Congratulations! You got it right. Did you know that there are many factors that can influence your time preference, such as personal safety, tax rates, property rights, and the ability to store value reliably", + "Wrong! Time preference has to do with decision-making, not a specific time of day. Maybe try again and think about how the time horizon you're operating on can affect your choices", + "Ha! Time travel is still just science fiction, sorry. Maybe try again and think about how the time horizon you're operating on can affect your choices." + ], + "question": "What is time preference", + "text": "Time preference is the idea that the amount of time you have to wait for something to happen can affect the decisions you make.\n\nFor example, if you value the present more than the future, you might be more likely to choose something that gives you immediate gratification.\n\nOn the other hand, if you value the future more, you might be willing to wait longer for something that has a bigger benefit in the long term.\n\nThere are many factors that can influence your time preference, such as your personal safety, tax rates, property rights, and the ability to store value reliably.\n\nThe \"hardness\" of money (how well it holds its value over time) is also important because it can encourage people to save, plan, and invest for the future. It's important to note that time preference is not a fixed thing - it can change based on the incentives in your environment.\n", + "title": "What is time preference" + }, + "impossibleTrinity": { + "answers": [ + "As perfectly mobile capital, Bitcoin alters the logic of sovereign nations to direct international monetary policy by making capital controls impossible to enforce.", + "Due to its fixed supply, the existence of Bitcoin makes it easier for sovereign nations to set fixed exchange rates.", + "Governments will restrict discussion of the Mundell-Fleming Trilemma because speech is easier to censor than cross-border payments." + ], + "feedback": [ + "enforce.", + "The 21 million cap is indeed quite fascinating, but the existence of Bitcoin actually makes it more difficult for nations to set fixed exchange rates. Try again", + "While that's entirely possible of course, that's not the most likeliest outcome here. Try again!" + ], + "question": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?", + "text": "The Impossible Trinity, also known as the Mundell-Fleming Trilemma, is a concept that explains the trade-offs involved in setting international monetary policy for a sovereign nation.\n\nIt says that a country can only choose two of the following three options: fixed exchange rates, free capital flows, and independent monetary policy.\n\n These three options cannot be pursued at the same time. This is because a country's capital flows, or the movement of money in and out of the country, can be influenced by the value of its currency and its monetary policy, which sets the rules for how much money is in circulation.\n\n As capital becomes more mobile and can move freely across borders, it is harder for a country to control and direct its capital flows. The rise of bitcoin, a digital currency that is borderless and immune to changes in value, may further challenge a country's ability to set monetary policy.\n", + "title": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?" + }, + "jevonsParadox": { + "answers": [ + "The phenomenon of increased consumption of a resource due to increased efficiency", + "A type of fruit named after an economist", + "A paradox that states that the more we have of something, the less we want it" + ], + "feedback": [ + "Correct! Well done, you have a firm understanding of the Jevons Paradox. Fun fact: The phenomenon is named after William Stanley Jevons, an English economist who first described it in the 19th century", + "Wrong! Sorry, there is no such thing as a Jevons fruit. You'll have to find your sustenance elsewhere", + "Sorry, that's not quite right. The Jevons Paradox actually states that increased efficiency can lead to increased consumption, not decreased desire for a resource. But hey, at least you're thinking paradoxically!" + ], + "question": "What is the Jevons Paradox", + "text": "The Jevons Paradox is a phenomenon that occurs when we use more of a resource, even when we are using it more efficiently. This happens because increased efficiency often leads to lower costs, which can increase demand for the resource.\n\nOne example of this is the use of coal as an energy source. In the late 1700s, people thought that coal deposits were running out, but James Watt's steam engine made it possible to use coal more efficiently. This led to an increase in the demand for coal, even though it was being used more efficiently. The relationship between energy and money is also important to consider.\n\nSome people have proposed using energy as a measure of value for money, but this has not been successful in practice. Bitcoin, on the other hand, uses a system called proof of work, which incentivizes people to use energy efficiently in order to earn rewards.\n\nWhile some people criticize the use of energy in this way, it is important to remember that humans are constantly finding new ways to generate energy, and we should not assume that energy is a fixed or limited resource.\n", + "title": "What is the Jevons Paradox" + }, + "powerLaws": { + "answers": [ + "A power law in economics", + "A type of pasta dish", + "A way to fold laundry" + ], + "feedback": [ + "Good job! The Pareto principle, also known as the 80/20 rule, is a power law that explains how a small amount of something (like 20% of producers) can have a big impact (like 80% of the market share).", + "Sorry, but it looks like you need to brush up on your economics and not your culinary skills. The Pareto principle is not a type of pasta, although it might be a tasty way to remember it", + "I'm afraid you're going to have to put away the laundry and pay a little more attention to economics. The Pareto principle is not a way to fold clothes, but it is a useful way to understand how small changes in one thing can lead to bigger changes in another." + ], + "question": "What is the Pareto principle, also known as the 80/20 rule, an example of", + "text": "Power laws are a way to understand how two things are related. When one thing changes, the other thing changes in a way that is related to the first change. Power laws can show up in different areas, like language, biology, and space. Small changes in one thing can often lead to bigger changes in the other thing.\n\nIn economics, power laws are often shown in graphs. One example of a power law is the Pareto principle, which says that about 80% of the results come from 20% of the things that cause them. In a market, this might mean that 20% of the producers make up 80% of the market.\n\nPower laws can also be seen in other parts of bitcoin, like how much power mining pools have or how many hardware wallets different companies sell. They can also be seen in how bitcoin is distributed among different addresses.\n", + "title": "What is the Pareto principle, also known as the 80/20 rule, an example of" + }, + "winnerTakeAll": { + "answers": [ + "Because it is the most liquid and the best way to store value", + "Because it tastes the best", + "Because it has the prettiest color" + ], + "feedback": [ + "You got it right. The main reason that people usually agree on using one type of money in a certain area is because it is the most liquid and the best way to store value", + "I'm afraid you might be confusing money with your favorite flavor of ice cream. Try again", + "Sorry, but the color of money is not the most important factor in determining which type to use. Better luck next time!" + ], + "question": "What is the main reason that people usually agree on using one type of money in a certain area", + "text": "The concept of winner-take-all effects is when only one product or service is the best and everyone wants to use it. This can happen in markets where a small advantage can lead to getting all of the business.\n\nMoney is a network like this, where only one type of money is used in a certain area because it is the most useful and has the most options for trading with other people. This happens because people want to use the money that will give them the most options and be the most useful in a lot of different situations.\n\nMoney is also a good way to store value over a long time. When it comes to monetary systems, people usually agree on using one type of money because it is the most liquid, or easiest to use, and it is the best way to store value.\n", + "title": "What is the main reason that people usually agree on using one type of money in a certain area" + } + } + }, + "BitcoinAndEconomicsIII": { + "title": "Bitcoin and Economics III", + "questions": { + "unitBias": { + "answers": [ + "The belief that one unit of something is always the right amount to use when comparing it to other things", + "The belief that one type of currency is better than all others", + "The belief that all units of something should be the same size" + ], + "feedback": [ + "Yep! Unit bias is the belief that one unit of something is always the right amount to use when comparing it to other things. However, this is not always true and can lead to faulty reasoning. Good job", + "I'm afraid you're mistaken. Unit bias is not about believing that one type of currency is better than all others. Maybe you should stick to counting your coins instead of trying to determine the value of currency", + "Sorry, but unit bias is not about the size of units. Don't worry, though – you can still have fun with different sizes of units by playing with building blocks or LEGO bricks." + ], + "question": "What is unit bias", + "text": "Unit bias is a type of thinking that assumes that one unit of something is the right amount to use when comparing it to other things.\n\nThis is not always true, especially when it comes to bitcoin. To understand how bitcoin compares to other stores of value, you need to look at the total amount of bitcoin that is available and its value, not just the price of one unit. Bitcoin is very small and can be divided into very small amounts, down to 8 decimal places. This means that you can buy a very small part of a bitcoin if you want.\n\nPeople sometimes think that other cryptocurrencies are cheaper than bitcoin because they cost less per unit, but this is not always true. Bitcoin is a special type of digital money because it is limited in supply and cannot be made in larger amounts.\n\nThis makes it a good way to store value because the value does not decrease over time. When you look at bitcoin in this way, you can see that it is just a small part of the total amount of non-government wealth in the world.\n", + "title": "What is unit bias" + }, + "veblenGood": { + "answers": [ + "A type of good that people want more of when the price goes up", + "A type of food that tastes better when it is expensive", + "A type of good that people want more of when they have more money to spend" + ], + "feedback": [ + "Exactly! A Veblen good is a type of good that people want more of when the price goes up. This is unusual because most people want things more when they have more money to spend", + "I'm sorry, but a Veblen good is not a type of food. Maybe you should stick to eating your favorite foods instead of trying to understand economics", + "I'm afraid you're mistaken. A Veblen good is not a type of good that people want more of when they have more money to spend. Maybe you should pay more attention to economics instead of just spending your money!" + ], + "question": "What is a Veblen good", + "text": "Veblen goods are things that people want more of when the price goes up. Normal goods are things that people usually want more of when they have more money to spend.\n\nVeblen goods are unusual because people want them more when they cost more. These are often luxury goods that are hard to get or that are made in limited quantities. This is done to make them seem special or rare.\n\nSome people might want to buy bitcoin because it is a status symbol, but the main reason people will probably want to buy it is because there is a limited amount of it.\n\nWhen more people want to buy bitcoin, the price goes up and it becomes easier to use. When it is easy to use, more people want to use it. This creates a cycle where the demand for bitcoin increases, the price goes up, and it becomes easier to use.\n", + "title": "What is a Veblen good" + }, + "malinvestment": { + "answers": [ + "Distorted price signals", + "Aliens from outer space", + "A lack of unicorns in the economy" + ], + "feedback": [ + "Correct answer! You're on the right track. When prices are not accurate, it can lead to money being put into things that are not very productive. Good job", + "Wrong answer! But at least you're thinking outside the box. Maybe the aliens are controlling the price signals from their spaceship... or maybe not. Better luck next time", + "Sorry, but unicorns do not have the power to control the economy. Although, it would be pretty cool if they did. Better luck next time." + ], + "question": "What is the main cause of malinvestment", + "text": "Malinvestment is when the prices of things are not accurate, which leads to money being put into things that are not very productive. This happens because it is hard to predict the future and make good choices about what to do with money.\n\nWhen the market is not working correctly, it is like trying to use a compass when you are not sure where you are. An example of this is when companies can't pay back their loans and have to borrow more money just to stay alive. This is like being a \"zombie\" company.\n\nWhen the government is in charge of these decisions, they might make mistakes because they don't have a good way to tell what is a good investment and what is not. This can lead to things like building a subway without enough trains or building a dam without enough power lines.\n", + "title": "What is the main cause of malinvestment" + }, + "asymmetricPayoff": { + "answers": [ + "When the potential upside is disproportionately greater than the downside risk", + "When the potential upside and downside are equal", + "When the potential upside is a talking llama and the downside is a mute giraffe" + ], + "feedback": [ + "Correct answer! You got it! An asymmetric payoff means that the potential for gain is much greater than the potential for loss. Good job", + "Wrong answer! An asymmetric payoff means that the potential for gain or loss is uneven, not equal. Better luck next time", + "Wrong answer! While a talking llama and mute giraffe might make for an interesting investment, they do not define an asymmetric payoff. Better luck next time." + ], + "question": "What is an asymmetric payoff in the context of investment decisions", + "text": "When we make decisions about investing our money, we try to predict what might happen and how much money we could make or lose. Sometimes, the amount of money we can make or lose is not equal.\n\nFor example, if we invest in something that has a big chance of making us a lot of money, but only a small chance of losing a little bit of money, we might call this an \"asymmetric payoff.\" This means that the potential upside (how much we can make) is much bigger than the potential downside (how much we can lose).\n\nOne example of this is bitcoin. Bitcoin's potential outcomes are similar to an option, meaning it either succeeds or fails. If it experiences a catastrophic event, the risk of losing money is minimized.\n\nHowever, the potential upside is much greater, as bitcoin's total addressable market has the potential to be a primary global store of wealth.\n\nAsymmetry in payoffs, or uneven potential outcomes, only occurs when there is uneven understanding or information about an investment. If everyone fully understood bitcoin, it would already be widely used as a form of currency.\n\nCurrently, not everyone is aware of bitcoin's potential as a superior monetary option, so the potential for it to increase in value depends on the demand for it increasing without a corresponding increase in the supply.\n", + "title": "What is an asymmetric payoff in the context of investment decisions" + }, + "ansoffMatrix": { + "answers": [ + "It helps identify potential growth strategies for the bitcoin protocol", + "It helps determine the optimal temperature for storing bitcoin", + "It helps calculate the potential return on investment for bitcoin mining operations" + ], + "feedback": [ + "Correct answer! You got it! The Ansoff Matrix can be used to outline growth strategies for the bitcoin protocol, such as developing and selling it to different markets. Good job", + "Nope! Storage temperature for bitcoin private keys is not a real issue, and it is not related to the Ansoff Matrix. Better luck next time", + "Wrong answer! While calculating potential returns on investment is important for bitcoin miners, it is not directly related to the Ansoff Matrix. Better luck next time." + ], + "question": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin", + "text": "The Ansoff Matrix is a tool that helps companies think about how they can grow and make more money. It helps them figure out what to do with a product or service they have, and how to sell it to different groups of people.\n\nIn the case of bitcoin, it is a product that is like a type of digital money. It has the potential to be used by a lot of people in a lot of different ways. The people who work on bitcoin, like the people who write the code and help others understand how to use it, are trying to increase the number of people who use it and make it easier for them to do so.\n\nBitcoin can be used to save money and protect it from being taken away, or it can be used to send and receive small amounts of money quickly, without having to go through a lot of steps. As more people start using bitcoin, it has the potential to grow and become more popular.\n\nIt is also possible for people and companies to use bitcoin as part of their financial plans, to help protect their money from losing value. While the main reason people might use bitcoin now is to protect their wealth, the payment use case has been growing fast since the inception of the Lightning Network and other use cases may emerge.\n", + "title": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin" + } + } + } +} From caf9fb8b3e5dcdf694aedb2c33bdc988183f5fb3 Mon Sep 17 00:00:00 2001 From: Lee Salminen Date: Thu, 12 Oct 2023 09:43:57 -0600 Subject: [PATCH 12/13] delete old combined files --- .../101-combined.json | 82 ---------- chapter-102-what-is-money/102-combined.json | 97 ------------ .../103-combined.json | 82 ---------- .../104-combined.json | 97 ------------ .../201-combined.json | 82 ---------- .../202-combined.json | 142 ------------------ .../203-combined.json | 112 -------------- .../204-combined.json | 82 ---------- .../205-combined.json | 127 ---------------- .../206-combined.json | 127 ---------------- .../301-combined.json | 97 ------------ .../302-combined.json | 127 ---------------- .../401-combined.json | 127 ---------------- .../501-combined.json | 97 ------------ .../502-combined.json | 97 ------------ .../503-combined.json | 97 ------------ .../601-combined.json | 97 ------------ .../602-combined.json | 97 ------------ .../603-combined.json | 82 ---------- 19 files changed, 1948 deletions(-) delete mode 100644 chapter-101-bitcoin-what-is-it/101-combined.json delete mode 100644 chapter-102-what-is-money/102-combined.json delete mode 100644 chapter-103-how-does-money-work/103-combined.json delete mode 100644 chapter-104-bitcoin-why-is-it-special/104-combined.json delete mode 100644 chapter-201-the-origins-of-money/201-combined.json delete mode 100644 chapter-202-attributes-of-a-good-store-of-value/202-combined.json delete mode 100644 chapter-203-the-evolution-of-money-i/203-combined.json delete mode 100644 chapter-204-the-evolution-of-money-ii/204-combined.json delete mode 100644 chapter-205-the-evolution-of-money-iii/205-combined.json delete mode 100644 chapter-206-the-evolution-of-money-iv/206-combined.json delete mode 100644 chapter-301-bitcoin-why-was-it-created/301-combined.json delete mode 100644 chapter-302-bitcoin-how-does-it-work/302-combined.json delete mode 100644 chapter-401-lightning-network/401-combined.json delete mode 100644 chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json delete mode 100644 chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json delete mode 100644 chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json delete mode 100644 chapter-601-bitcoin-and-economics-i/601-combined.json delete mode 100644 chapter-602-bitcoin-and-economics-ii/602-combined.json delete mode 100644 chapter-603-bitcoin-and-economics-iii/603-combined.json diff --git a/chapter-101-bitcoin-what-is-it/101-combined.json b/chapter-101-bitcoin-what-is-it/101-combined.json deleted file mode 100644 index b24c675..0000000 --- a/chapter-101-bitcoin-what-is-it/101-combined.json +++ /dev/null @@ -1,82 +0,0 @@ -{ - "BitcoinWhatisit": { - "title": "Bitcoin: What is it?", - "questions": { - "whatIsBitcoin": { - "answers": [ - "Digital Money", - "A video game", - "A new cartoon character" - ], - "feedback": [ - "Correct. You just earned 1 “sat”!", - "Incorrect, please try again.", - "Nope. At least not one that we know of!" - ], - "question": "So what exactly is Bitcoin", - "text": "Bitcoin is digital money. It can be transferred instantly and securely between any two people in the world — without the need for a bank or any other financial company in the middle.", - "title": "So what exactly is Bitcoin" - }, - "sat": { - "answers": [ - "The smallest unit of Bitcoin", - "A small satellite", - "A space cat 🐱🚀" - ], - "feedback": [ - "Correct. You just earned another two sats!!", - "Maybe… but that is not the correct answer in this context 🙂", - "Ummm.... not quite!" - ], - "question": "I just earned a “Sat\". What is that?", - "text": "One “Sat” is the smallest unit of a bitcoin. We all know that one US Dollar can be divided into 100 cents. Similarly, one Bitcoin can be divided into 100,000,000 sats. In fact, you do not need to own one whole bitcoin in order to use it. You can use bitcoin whether you have 20 sats, 3000 sats — or 100,000,000 sats (which you now know is equal to one bitcoin).\n", - "title": "I just earned a “Sat\". What is that?" - }, - "whereBitcoinExist": { - "answers": [ - "On the Internet", - "On the moon", - "In a Federal bank account" - ], - "feedback": [ - "Correct. You just earned another 5 sats.", - "Incorrect. Well… at least not yet ;)", - "Wrong. Please try again." - ], - "question": "Where do the bitcoins exist?", - "text": "Bitcoin is a new form of money. It can be used by anyone, anytime -- anywhere in the world. It is not tied to a specific government or region (like US Dollars). There are also no paper bills, metal coins or plastic cards. Everything is 100% digital. Bitcoin is a network of computers running on the internet. Your bitcoin is easily managed with software on your smartphone or computer!\n", - "title": "Where do the bitcoins exist?" - }, - "whoControlsBitcoin": { - "answers": [ - "A voluntary community of users around the world", - "Mr Burns from The Simpsons", - "The government of France" - ], - "feedback": [ - "That is right. Bitcoin is made possible by people all around the world running bitcoin software on their computers and smartphones.", - "An amusing thought — but not correct!", - "Wrong. There is no company nor government that controls Bitcoin." - ], - "question": "Who controls Bitcoin?", - "text": "Bitcoin is not controlled by any person, company or government. It is run by the community of users -- people and companies all around the world -- voluntarily running bitcoin software on their computers and smartphones.\n", - "title": "Who controls Bitcoin?" - }, - "copyBitcoin": { - "answers": [ - "No — it is impossible to copy or duplicate the value of bitcoin", - "Yes, you can copy bitcoins just as easily as copying a digital photo", - "Yes, but copying bitcoin requires very specialized computers" - ], - "feedback": [ - "copy or duplicate the value of bitcoin", - "You know that it is not true. Try again.", - "Incorrect. There is no way for anyone to copy, or create a duplicate, of bitcoin." - ], - "question": "If Bitcoin is digital money, can’t someone just copy it — and create free money?", - "text": "The value of a bitcoin can never be copied. This is the very reason why Bitcoin is such a powerful new invention!! Most digital files — such as an iPhone photo, an MP3 song, or a Microsoft Word document — can easily be duplicated and shared. The Bitcoin software uniquely prevents the duplication — or “double spending” — of digital money. We will share exactly how this works later on!\n", - "title": "If Bitcoin is digital money, can’t someone just copy it — and create free money?" - } - } - } -} diff --git a/chapter-102-what-is-money/102-combined.json b/chapter-102-what-is-money/102-combined.json deleted file mode 100644 index d8cdd65..0000000 --- a/chapter-102-what-is-money/102-combined.json +++ /dev/null @@ -1,97 +0,0 @@ -{ - "WhatisMoney": { - "title": "What is Money?", - "questions": { - "moneySocialAgreement": { - "answers": [ - "Because people trust that other people will value money similarly", - "Because your mother told you so", - "Because a dollar bill is worth its weight in gold" - ], - "feedback": [ - "Correct. This is what allows money to work!", - "She may well have. But that is not the correct answer here!", - "Nope. In the past you could exchange US dollars for gold. But this is no longer the case." - ], - "question": "Why does money have value?", - "text": "Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.\n", - "title": "Why does money have value?" - }, - "coincidenceOfWants": { - "answers": [ - "Coincidence of wants", - "Coincidence of day and night", - "Coincidence of the moon blocking the sun" - ], - "feedback": [ - "That is right. Money allows you to easily purchase something, without haggling about the form of payment", - "No silly, you know that is not the answer.", - "Not quite. We call that a solar eclipse 🌚" - ], - "question": "Which coincidence does money solve?", - "text": "Centuries ago, before people had money, they would barter -- or haggle over how to trade one unique item, in exchange for another item or service. Let’s say you wanted to have a meal at the local restaurant, and offered the owner a broom. The owner might say “no” -- but I will accept three hats instead, if you happen to have them. You can imagine how difficult and inefficient a “barter economy” would be! By contrast, with money, you can simply present a $20 bill. And you know that the restaurant owner will readily accept it.\n", - "title": "Which coincidence does money solve?" - }, - "moneyEvolution": { - "answers": [ - "Stones, seashells and gold", - "Tiny plastic Monopoly board game houses", - "Coins made of chocolate" - ], - "feedback": [ - "Correct. Items that are rare and difficult to copy have often been used as money.", - "Wrong. They may have value when playing a game -- but not in the real world!", - "Nope. They may be tasty. But they are not useful as money." - ], - "question": "What are some items that have been historically used as a unit of money?", - "text": "Thousands of years ago, a society in Micronesia used very large and scarce stones as a form of agreed currency. Starting in the 1500’s, rare Cowrie shells (found in the ocean) became commonly used in many nations as a form of money. And for millennia, gold has been used as a form of money for countries around the world -- including the United States (until 1971).\n", - "title": "What are some items that have been historically used as a unit of money?" - }, - "whyStonesShellGold": { - "answers": [ - "Because they have key characteristics -- such as being durable, uniform and divisible.", - "Because they are pretty and shiny.", - "Because they fit inside of your pocket" - ], - "feedback": [ - "Correct. More key characteristics include being scarce and portable.", - "Incorrect. That may be true, but alone are not great characteristics of money.", - "Not quite. Although these items were surely portable, that alone was not the reason to be used as money." - ], - "question": "Why were stones, seashells and gold used as units of money?", - "text": "Well, these items all had some -- but not all -- of the characteristics of good money.\n\n\n\nSo what characteristics make for “good” money?\nScarce: not abundant, nor easy to reproduce or copy\nAccepted: relatively easy for people to verify its authenticity\nDurable: easy to maintain, and does not perish or fall apart\nUniform: readily interchangeable with another item of the same form\nPortable: easy to transport\nDivisible: can be split and shared in smaller pieces\n", - "title": "Why were stones, seashells and gold used as units of money?" - }, - "moneyIsImportant": { - "answers": [ - "Money allows people to buy goods and services today -- and tomorrow.", - "Money allows you to go to the moon.", - "Money is the solution to all problems." - ], - "feedback": [ - "That is right!", - "Incorrect. Although that may change in the future ;)", - "Not quite. Although some people may believe such, this answer does not address the primary purpose of money." - ], - "question": "What is the primary reason money is important?", - "text": "Everybody knows that money matters.\n\n\nMost people exchange their time and energy -- in the form of work -- to obtain money. People do so, to be able to buy goods and services today -- and in the future.\n", - "title": "What is the primary reason money is important?" - }, - "moneyImportantGovernement": { - "answers": [ - "The US Central Bank (The Federal Reserve)", - "Mr Burns from The Simpsons", - "A guy with a printing press in his basement" - ], - "feedback": [ - "Correct. The US Government can print as much money as they want at any time.", - "Incorrect. Although it did seem like he always had a lot of money.", - "No. Whilst some people do create fake dollar bills, it is definitely not legal!" - ], - "question": "Who can legally print US Dollars, anytime they wish?", - "text": "Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.\n \n Accordingly, in most every nation, the government holds the power to issue and control money.\n\n\n In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.\n\n\n The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\n Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??\n", - "title": "Who can legally print US Dollars, anytime they wish?" - } - } - } -} diff --git a/chapter-103-how-does-money-work/103-combined.json b/chapter-103-how-does-money-work/103-combined.json deleted file mode 100644 index 3bb6c64..0000000 --- a/chapter-103-how-does-money-work/103-combined.json +++ /dev/null @@ -1,82 +0,0 @@ -{ - "HowDoesMoneyWork": { - "title": "How Does Money Work?", - "questions": { - "WhatIsFiat": { - "answers": [ - "They are created by order of the National government in a given country.", - "By the manager of the local branch bank.", - "The Monopoly Money Man." - ], - "feedback": [ - "Correct. The central bank of a government creates fiat currencies.", - "Not quite. While local banks can give out loans based on credit and create money by doing so, they cannot create fiat currencies. Try again.", - "Nope. Try again!" - ], - "question": "Who creates fiat currencies, such as US Dollars or Swiss Francs?", - "text": "All national currencies in circulation today are called “fiat” money. This includes US Dollars, Japanese Yen, Swiss Francs, and so forth.\n\n\nThe word “fiat” is latin for “by decree” -- which means “by official order”.\n\n\nThis means that all fiat money -- including the US Dollar -- is simply created by the order of the national government.\n", - "title": "Who creates fiat currencies, such as US Dollars or Swiss Francs?" - }, - "whyCareAboutFiatMoney": { - "answers": [ - "All fiat currency is eventually abused by government authorities.", - "Local banks might not have enough vault space to hold all of the dollar bills.", - "There might not be enough trees to make paper for all of the additional dollar bills." - ], - "feedback": [ - "Correct. Throughout history, governments have been unable to resist the ability to print money, as they effectively have no obligation to repay this money.", - "Nope, that is certainly not the case.", - "Wrong. Please try again." - ], - "question": "Why should I care about the government controlling fiat money?", - "text": "As shared in a prior quiz, the US Central Bank is the Federal Reserve, or the “Fed”.\n\n\nThe Fed can print more dollars at any time -- and does not need permission from the President, nor Congress, and certainly not from US citizens.\n\n\nHaving control of money can be very tempting for authorities to abuse -- and often time leads to massive inflation, arbitrary confiscation and corruption.\n\n\nIn fact, Alan Greenspan, the famous former chairman of The Fed, famously said the US “can pay any debt that it has, because we can always print more to do that”.\n", - "title": "Why should I care about the government controlling fiat money?" - }, - "GovernementCanPrintMoney": { - "answers": [ - "The printing of additional money leads to inflation.", - "People must exchange old dollar bills at the bank every year.", - "The appearance of the dollar bill changes." - ], - "feedback": [ - "Correct. This means that goods and services will cost more in the future.", - "Nope. Older dollar bills are just as valid as newer ones.", - "Incorrect. Although the government may issue new looks for bills, this has nothing to do with increasing the money supply." - ], - "question": "What does it mean when the government prints money?", - "text": "Well, everybody should care!\n\n\nThe practice of government printing money -- or increasing the supply of dollars -- leads to inflation.\n\n\nInflation is an increase in the price of goods and services. In other words, the price for something in the future will be more expensive than today.\n\n\nSo what does inflation mean for citizens?\n\n\nIn the United Kingdom, the Pound Sterling has lost 99.5% of its value since being introduced over 300 years ago.\n\n\nIn the United States, the dollar has lost 97% of its value since the end of WWI, about 100 years ago.\n\n\nThis means a steak that cost $0.30 in 1920... was $3 in 1990… and about $15 today, in the year 2020!\n", - "title": "What does it mean when the government prints money?" - }, - "FiatLosesValueOverTime": { - "answers": [ - "Every fiat currency that ever existed has lost a massive amount of value.", - "The value stays the same forever.", - "The look and design of paper bills is updated every 10 years or so." - ], - "feedback": [ - "Correct. This is true even for USD, which has lost 97% of its value during the last 100 years.", - "Incorrect. Please try again.", - "Not quite. Although the design of papers bills may change, this has nothing to do with their value." - ], - "question": "What happens to the value of all fiat money over time?", - "text": "That is correct.\n\n\nIn the history of the world, there have been 775 fiat currencies created. Most no longer exist, and the average life for any fiat money is only 27 years.\n\n\nThe British Pound is the oldest fiat currency. It has lost more than 99% of its value since 1694.\n\n\nThere is no precedent for any fiat money maintaining its value over time. This is inflation.\nIt is effectively a form of theft of your own hard earned money !\n", - "title": "What happens to the value of all fiat money over time?" - }, - "OtherIssues": { - "answers": [ - "Money is difficult to move around the world, and can also be surveilled.", - "Money is no longer needed in the 21st Century.", - "Money is the root of all evil." - ], - "feedback": [ - "Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!", - "Wrong answer. You know that is not true.", - "While some may believe this to be so, it is not the answer we are looking for here." - ], - "question": "What are some other issues that exist with fiat money?", - "text": "Yes, there are many other issues that exist with modern fiat money.\n\n\nFirst, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.\n\n\nSecond, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.\n\n\nEver notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.\n", - "title": "What are some other issues that exist with fiat money?" - } - } - } -} diff --git a/chapter-104-bitcoin-why-is-it-special/104-combined.json b/chapter-104-bitcoin-why-is-it-special/104-combined.json deleted file mode 100644 index 2fb04a2..0000000 --- a/chapter-104-bitcoin-why-is-it-special/104-combined.json +++ /dev/null @@ -1,97 +0,0 @@ -{ - "BitcoinWhyisitspecial": { - "title": "Bitcoin: Why is it special?", - "questions": { - "LimitedSupply": { - "answers": [ - "Yes. There can never be more than 21 million bitcoin created.", - "No. The government can create more bitcoin at any time.", - "No, the bitcoin software can be changed to allow more bitcoins to be created." - ], - "feedback": [ - "Correct. By limiting the amount that can be created, Bitcoin is designed to increase in value over time.", - "Wrong answer. The government has no control over Bitcoin.", - "Incorrect. One of the key attributes of bitcoin is that the supply is limited forever." - ], - "question": "Is the supply of bitcoin limited forever?", - "text": "Governments can print fiat money in unlimited quantities.\n\n\nBy way of contrast, the supply of Bitcoin is fixed — and can never exceed 21 million coins.\n\n\nA continually increasing supply of fiat money creates inflation. This means that the money you hold today is less valuable in the future.\n\nOne simple example:\nA loaf of bread that cost about 8 cents in 1920. In the year 1990 one loaf cost about $1.00, and today the price is closer to $2.50 !\n\n\nThe limited supply of bitcoin has the opposite effect, one of deflation.\n\n\nThis means that the bitcoin you hold today is designed to be more valuable in the future — because it is scarce.\n", - "title": "Is the supply of bitcoin limited forever?" - }, - "Decentralized": { - "answers": [ - "No. Bitcoin is completely “decentralized”.", - "Yes. It is centrally controlled by the United Nations.", - "Yes. It is centrally controlled by the world’s largest banks." - ], - "feedback": [ - "That is correct. There is no company, government or institution that controls bitcoin. Anyone can use bitcoin — all need is a smartphone and an internet connection.", - "Wrong answer. Please try again.", - "Incorrect. You already know this is not true!" - ], - "question": "Is bitcoin centralized?", - "text": "Fiat money is controlled by banks and governments — which is why people refer to it as a “centralized” currency.\n\nBitcoin is not controlled by any person, government or company — which makes it “decentralized”\n\nNot having banks involved means that nobody can deny you access to bitcoin — because of race, gender, income, credit history, geographical location — or any other factor.\n\nAnybody — anywhere in the world — can access and use Bitcoin anytime you want. All you need is a computer or smartphone, and an internet connection. In fact, even a feature phone with no internet can utilize Bitcoin with services like Machankura!\n", - "title": "Is bitcoin centralized?" - }, - "NoCounterfeitMoney": { - "answers": [ - "No. It is impossible to counterfeit Bitcoin.", - "Yes. Although creating fake bitcoin requires very specialized computers.", - "Yes. The govrenment can print as much bitcoin as it likes." - ], - "feedback": [ - "counterfeit Bitcoin.", - "Incorrect. There is no way for anyone to copy or duplicate the value of a bitcoin.", - "Wrong. Although the government can print unlimited dollars, it can not print bitcoin." - ], - "question": "Can people counterfeit Bitcoin?", - "text": "Paper money, checks and credit card transactions can all be counterfeit, or faked.\n\nThe unique software that runs the Bitcoin network eliminates the possibility of duplicating money for counterfeit purposes.\n\nNew bitcoin can only be issued if there is agreement amongst the participants in the network. People who are voluntarily running bitcoin software on their own computers and smartphones.\n\nThis ensures that it is impossible to counterfeit, or create fake bitcoins.\n", - "title": "Can people counterfeit Bitcoin?" - }, - "HighlyDivisible": { - "answers": [ - "0.00000001 BTC", - "One whole bitcoin. It is not possible to use anything less.", - "0.01 BTC" - ], - "feedback": [ - "Yes. You can divide a bitcoin into 100,000,000 pieces. As you already know, the smallest unit of bitcoin — B0.00000001 — is known as a “sat”.", - "Wrong. Bitcoin is highly divisible. You can easily use a very small fraction of a bitcoin.", - "Incorrect. Although the smallest unit of US currency is one penny, a bitcoin is divisible by much more than 100x." - ], - "question": "What is the smallest amount of Bitcoin one can own, or use?", - "text": "Old-fashioned fiat money can only be spent in amounts as small as one penny — or two decimal places for one US Dollar ($0.01).\n\nOn the other hand, Bitcoin can be divided 100,000,000 times over. This means that you could spend as little as ₿0.00000001. You will note the \"\"₿\"\" symbol, which is the Bitcoin equivalent of \"\"$\"\". Sometimes you will also see the use of BTC, instead of ₿.\n\nBy way of contrast, Bitcoin can handle very small payments — even those less than one US penny!\n", - "title": "What is the smallest amount of Bitcoin one can own, or use?" - }, - "securePartOne": { - "answers": [ - "Yes. The bitcoin network is very secure.", - "Maybe. It depends on the day of the week.", - "bitcoin network is safe and secure — 24 hours a day, 365 days a year." - ], - "feedback": [ - "Correct. In fact, the Bitcoin network has never once been hacked. Answer the next question to learn more!", - "Nice try, but wrong. The bitcoin network is safe and secure — 24 hours a day, 365 days a year.", - "Incorrect. Although bitcoin is indeed “open source” software — or available to the public for free — is still extremely secure." - ], - "question": "Is the Bitcoin network secure?", - "text": "The bitcoin network is worth well over $100 billion today. Accordingly, the network must be very secure — so that money is never stolen.\n\n\nBitcoin is known as the world’s first cryptocurrency.\n\n\nThe “crypto” part of the name comes from cryptography. Simply put, cryptography protects information through very complex math functions.\n\n\nMost people do not realize — but Bitcoin is actually the most secure computer network in the world !\n\n\n(you may have heard about bitcoin “hacks” — which we will debunk in the next quiz)\n", - "title": "Is the Bitcoin network secure?" - }, - "securePartTwo": { - "answers": [ - "No. Bitcoin has never been hacked.", - "Yes. Bitcoin gets hacked frequently.", - "Yes. Bitcoin usually gets hacked on holidays, when traditional banks are closed." - ], - "feedback": [ - "That is correct. The bitcoin network has never been compromised. However, it is important to make you use secure digital wallet (such as Galoy!) to keep your personal bitcoins safe at all times.", - "Wrong. Please try again.", - "No silly, you know that is not the correct answer." - ], - "question": "Has Bitcoin ever been hacked?", - "text": "To be direct: the bitcoin network itself has never been hacked. Never once.\n\n\n Then what exactly has been hacked?\n\n\n Certain digital wallets that did not have proper security in place.\n\n\n Just like a physical wallet holds fiat currency (in the form of paper bills), digital wallets hold some amount of bitcoin.\n\n\n In the physical world, criminals rob banks — and walk away with US Dollars. The fact that someone robbed a bank does not have any relationship as to whether the US Dollar is stable or reliable money.\n\n\n Similarly, some computer hackers have stolen bitcoin from insecure digital wallets — the online equivalent of a bank robbery.\n\n\n However, it is important to know that the bitcoin network has never been hacked or compromised !\n", - "title": "Has Bitcoin ever been hacked?" - } - } - } -} diff --git a/chapter-201-the-origins-of-money/201-combined.json b/chapter-201-the-origins-of-money/201-combined.json deleted file mode 100644 index 5b393b4..0000000 --- a/chapter-201-the-origins-of-money/201-combined.json +++ /dev/null @@ -1,82 +0,0 @@ -{ - "TheOriginsofMoney": { - "title": "The Origins of Money", - "questions": { - "originsOfMoney": { - "answers": [ - "To store and transfer wealth", - "To serve as a form of entertainment", - "To act as a status symbol" - ], - "feedback": [ - "Congratulations! You hit the nail on the head. Collectibles have long been used as a medium for storing and transferring wealth, much like how Bitcoin is used today as a decentralized digital currency", - "Sorry, but collectibles aren't just for show - they have a deeper purpose", - "While collectibles may serve as a status symbol for some, there's more to it than just showing off." - ], - "question": "What is the primary and ultimate evolutionary function of collectibles", - "text": "The earliest human societies engaged in trade through barter, but this method had several limitations. One issue was the \"double coincidence of wants\" problem, where two people needed to desire the same item at the same time in order to complete a trade.\n\nTo overcome this issue, humans began to collect and value certain items for their rarity and symbolic significance, such as shells, animal teeth, and flint.\n\nThese collectibles served as a way for early humans to store and transfer wealth, providing an evolutionary advantage over other species such as Homo neanderthalensis.\n", - "title": "What is the primary and ultimate evolutionary function of collectibles" - }, - "primitiveMoney": { - "answers": [ - "To store value", - "To serve as a form of entertainment", - "To act as a medium of exchange" - ], - "feedback": [ - "Congratulations! You're right on the money (pun intended). Collectibles served as a store of value in paleolithic societies, much like how Bitcoin and other cryptocurrencies are used today as a digital store of value", - "Sorry, collectibles might be fun to collect, but they had a more practical purpose in ancient societies", - "Collectibles were not used as frequently as modern currency, so they didn't quite play the same role as a medium of exchange." - ], - "question": "What was the primary role of collectibles in paleolithic societies", - "text": "Collectibles served as a precursor to money by allowing trade between different groups and facilitating the transfer of wealth between generations. Although they were not used as frequently as modern money in paleolithic societies, collectibles still served as a store of value and could sometimes even facilitate trade.\n\nPrimitive forms of money, such as collectibles, had a low velocity compared to modern currency and might only be transferred a few times during an individual's lifetime. However, durable collectibles that were passed down through generations had substantial value at each transfer and sometimes made trade possible.\n", - "title": "What was the primary role of collectibles in paleolithic societies" - }, - "anticipatingDemand": { - "answers": [ - "The ability to buy collectibles at a lower price before they became widely sought after", - "The ability to trade collectibles for other useful items", - "The ability to impress others with their collection of rare and valuable items" - ], - "feedback": [ - "Congratulations, you are correct! It seems that the concept of \"buy low, sell high\" is not a modern invention, as early humans also sought to acquire collectibles at a lower cost before their demand and trade value increased. Fun fact: this principle also applies to bitcoin, where early adopters were able to acquire bitcoins at a much lower price before their value skyrocketed", - "Sorry, that is not the correct answer. While being able to trade collectibles for other useful items may have been a benefit of correctly anticipating demand, it was not the main advantage", - "I'm afraid that is not the correct answer. While having a collection of rare and valuable items may have been a source of pride and admiration, it was not the main advantage" - ], - "question": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies", - "text": "The choice of which items to collect or create posed a significant problem for early humans, as they had to anticipate which objects would be desired by others. The ability to correctly predict which items would be in demand for their collectible value gave a significant advantage to the owner in terms of their ability to trade and accumulate wealth.\n\nSome Native American tribes, such as the Narragansetts, even focused on producing collectibles that had little practical use, but were valuable in trade.\n\nThe earlier a collectible is anticipated to be in future demand, the greater the advantage its possessor has, as it can be obtained at a lower cost before it becomes widely sought after and its trade value increases as the number of people demanding it grows.\n", - "title": "What was the main advantage of being able to anticipate future demand for collectible items in early human societies" - }, - "nashEquilibrium": { - "answers": [ - "A concept that helps societies decide on a single store of value", - "A type of dance that promotes trade and the division of labor", - "A musical instrument that makes it easier to conduct trade and specialize in different tasks" - ], - "feedback": [ - "Congratulations, you are correct! A Nash Equilibrium is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy. In the context of choosing a store of value, achieving a Nash Equilibrium means that society has converged on a single store of value, which greatly facilitates trade and the division of labor. Fun fact: Bitcoin is often cited as an example of a Nash Equilibrium, as it has become the dominant cryptocurrency due to its perceived value and widespread adoption", - "Sorry, that is not the correct answer. While a Nash Equilibrium has nothing to do with dance, it is an important concept in game theory that can benefit society", - "I'm afraid that is not the correct answer. While music can bring people together and facilitate cooperation, a Nash Equilibrium has nothing to do with musical instruments. It is a concept in game theory that refers to a situation in which no player can gain an advantage by changing their strategy." - ], - "question": "What is a Nash Equilibrium and how does it benefit society", - "text": "Acquiring an item with the expectation that it will be desired as a future store of value can accelerate its adoption for that purpose. This process can create a feedback loop that drives societies towards adopting a single store of value.\n\nIn game theory, this is known as a \"Nash Equilibrium\". Reaching a Nash Equilibrium for a store of value can greatly benefit a society, as it makes trade and the division of labor easier and paves the way for the development of civilization.\n", - "title": "What is a Nash Equilibrium and how does it benefit society" - }, - "singleStoreOfValue": { - "answers": [ - "To increase the purchasing power of their savings", - "To learn about other cultures and societies", - "To show off their wealth and status" - ], - "feedback": [ - "Correct! Merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society because it increased the purchasing power of their savings. This not only benefited the merchants, but also the society as a whole, as the adoption of a single store of value reduced the cost of completing trade with other societies and increased trade-based wealth. Fun fact: Bitcoin is an example of a store of value that has been adopted by many societies, and its widespread adoption has increased its purchasing power and facilitated trade", - "Sorry, that is not the correct answer. While learning about other cultures and societies may have been a side benefit of promoting the adoption of a foreign store of value, it was not the main reason", - "I'm afraid that is not the correct answer. While showing off wealth and status may have been a motivation for some individuals, it was not the main reason for why merchants and traders had an incentive to promote the adoption of a foreign store of value in their own society." - ], - "question": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society", - "text": "As human societies and trade routes developed over time, stores of value that emerged in different societies began to compete with each other. Merchants and traders had to decide whether to save their profits in the store of value of their own society or in the store of value of the society they were trading with, or a combination of both.\n\nHolding savings in a foreign store of value gave merchants the ability to complete trade more easily in that society, and also gave them an incentive to promote the adoption of that store of value in their own society, as it would increase the purchasing power of their savings.\n\nWhen two societies adopt the same store of value, they see a significant reduction in the cost of trading with each other and an increase in trade-based wealth. In the 19th century, most of the world converged on a single store of value – gold – and this period saw the greatest increase in trade in history.\n", - "title": "Why did merchants and traders in early human societies have an incentive to promote the adoption of a foreign store of value in their own society" - } - } - } -} diff --git a/chapter-202-attributes-of-a-good-store-of-value/202-combined.json b/chapter-202-attributes-of-a-good-store-of-value/202-combined.json deleted file mode 100644 index eed480c..0000000 --- a/chapter-202-attributes-of-a-good-store-of-value/202-combined.json +++ /dev/null @@ -1,142 +0,0 @@ -{ - "AttributesofagoodStoreofValue": { - "title": "Attributes of a good Store of Value", - "questions": { - "whatIsGoodSOV": { - "answers": [ - "Durability, portability, interchangeability, verifiability, divisibility, scarcity, long history, and resistance to censorship", - "Tastiness, cuteness, softness, and Instagram-ability", - "Rarity, beauty, and sentimental value" - ], - "feedback": [ - "Yes! A good store of value should have attributes such as durability, portability, interchangeability, verifiability, divisibility, scarcity, a long history, and resistance to censorship. These characteristics make it easier to use as a medium of exchange and store of value, and increase its demand over time", - "Sorry, that is not the correct answer. While tastiness, cuteness, softness, and Instagram-ability may be desirable qualities in other contexts, they are not typically considered important attributes for a store of value", - "I'm afraid that is not the correct answer. While rarity, beauty, and sentimental value may make an item valuable to a particular individual, they are not typically considered important attributes for a store of value that is widely accepted and used as a medium of exchange." - ], - "question": "What are some attributes that make a good store of value", - "text": "When stores of value compete with each other, the attributes that make a good store of value allow it to outperform its competitors and increase demand over time.\n\nMany goods have been used as stores of value but certain attributes are particularly desirable and allow these goods to be more successful.\n\nAn ideal store of value should be durable, portable, interchangeable, verifiable, divisible, scarce, have a long history, and resistant to censorship.\n", - "title": "What are some attributes that make a good store of value" - }, - "durability": { - "answers": [ - "The network that secures the currency", - "The physical manifestation of the currency", - "The institution that issues the currency" - ], - "feedback": [ - "You got it right. The network that secures the currency is an important factor in determining its durability, especially for digital currencies like bitcoin. Did you know that bitcoin has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers? That's quite impressive for a currency that's still in its early stages", - "Nope, sorry! The physical manifestation of the currency is actually not as important as the institution that issues it or the network that secures it. Don't worry though, you're not alone in making this mistake. Even the Ancient Greeks used to mint their coins out of perishable materials like bronze and copper", - "Close, but not quite! The institution that issues the currency is actually an important factor in determining its durability. But hey, at least you're not alone in this mistake. There have been many governments and currencies that have come and gone over the centuries." - ], - "question": "Which of the following is an important factor in determining the durability of a good store of value", - "text": "The good used as money should not be perishable or easily destroyed. Gold is known for its durability and is often considered the \"king\" in this regard.\n\nA large portion of the gold that has ever been mined or minted, including the gold of the Pharaohs, still exists today and is likely to remain available for many more years. Gold coins that were used as money in ancient times still hold significant value today.\n\nFiat currencies and bitcoins are digital records that may take physical form, such as paper bills. However, it is not the physical manifestation of these currencies that should be considered for their durability, but rather the durability of the institution that issues them.\n\nMany governments and their currencies have come and gone over the centuries, while others, such as the US dollar and British pound, have survived for a longer period of time. Bitcoins have no issuing authority, so their durability depends on the network that secures them. While it is still early to draw strong conclusions about the durability of bitcoins, there are signs that the network has displayed a high level of \"anti-fragility\" despite attempts to regulate it and attacks by hackers.\n", - "title": "Which of the following is an important factor in determining the durability of a good store of value" - }, - "portability": { - "answers": [ - "Its physical form", - "Its ability to be easily transported and stored", - "Its ability to facilitate long-distance trade" - ], - "feedback": [ - "You got it right. The physical form of the good is not a factor that makes it portable. In fact, digital currencies like bitcoin are the most portable stores of value because they can be easily stored on a small device and transmitted quickly across long distances. Did you know that private keys representing hundreds of millions of dollars can be stored on a tiny USB drive and easily carried anywhere with bitcoin? That's pretty impressive", - "Sorry, that's incorrect! The ability to be easily transported and stored is actually an important factor that makes a good store of value portable. But don't worry, it's a common mistake. After all, who wouldn't want to carry around a cow as a store of value? It would make for a pretty impressive conversation starter at least", - "Oops, that's not the right answer! The ability to facilitate long-distance trade is actually an important factor that makes a good store of value portable. But hey, at least you're not alone in this mistake. It's easy to see how someone might think that cows are the perfect portable store of value, given their ability to produce milk and beef." - ], - "question": "Which of the following is NOT a factor that makes a good store of value portable", - "text": "\n\"Portability\" refers to how easy it is to move or transport a good from one place to another.\n\nBitcoins are highly portable, allowing for easy storage on a small USB drive and quick transmission across long distances. Similarly, fiat currencies are also digital and therefore portable, but government regulations and capital controls can make large transfers of value difficult or impossible.\n\nOn the other hand, gold, being physical in form and very dense, is the least portable store of value, with the majority of bullion never being transported and the transfer of physical gold being costly, risky, and time-consuming.\n", - "title": "Which of the following is NOT a factor that makes a good store of value portable" - }, - "fungibility": { - "answers": [ - "The shape and quality of diamonds are irregular", - "Gold is more valuable than diamonds", - "Gold is more abundant than diamonds" - ], - "feedback": [ - "Exactly**!** The irregular shape and quality of diamonds makes them less interchangeable than gold, which is why gold is considered more fungible. Did you also know that bitcoin is considered fungible at the network level, but its traceability on the blockchain can sometimes lead to it being treated as non-fungible by merchants or exchanges", - "Wrong answer! Gold may be more valuable than diamonds, but that's not the main reason it's considered more fungible. Looks like you need to brush up on your fungibility knowledge", - "Nope, sorry! While gold may be more abundant than diamonds, that's not the main reason it's considered more fungible. Better luck next time!" - ], - "question": "What is the main reason that gold is considered more fungible than diamonds", - "text": "\n\"Fungibility\" means that one unit of a currency is interchangeable with another unit of the same currency. This is an important attribute for a good store of value.\n\nGold is a highly fungible store of value, as when melted down, an ounce of gold is essentially indistinguishable from any other. Fiat currencies, on the other hand, may not always be completely fungible, as their issuing institutions may treat different denominations differently.\n\nLike gold, units of bitcoin are fungible, but there are some nuances to it. We'll dive into this in a later chapter.\n", - "title": "What is the main reason that gold is considered more fungible than diamonds" - }, - "verifiability": { - "answers": [ - "By using cryptographic signatures", - "By checking for gold-plated tungsten", - "By checking for features on banknotes to prevent counterfeiting" - ], - "feedback": [ - "Congratulations! You are correct. Bitcoin can be verified with mathematical certainty using cryptographic signatures", - "Sorry, but that's not quite right. Better luck next time", - "Wrong! Bitcoin is purely digital and doesn't utilize banknotes. Try again!" - ], - "question": "How can bitcoin be verified", - "text": "It is important for a good store of value to be easily verifiable as authentic. This increases confidence in trade and the likelihood that a transaction will be completed.\n\nBoth fiat currencies and gold are generally easy to verify, but they are not foolproof. Counterfeit bills and gold-plated tungsten have been used to deceive people in the past.\n\nOn the other hand, the use of cryptography makes verification very easy for bitcoin and makes counterfeiting impossible.\n", - "title": "How can bitcoin be verified" - }, - "divisibility": { - "answers": [ - "Gold", - "Bitcoin", - "Fiat currency" - ], - "feedback": [ - "You are correct. Gold is difficult divide into small quantities for everyday trade. Did you know that gold has been used as a store of value for thousands of years due to its rarity and durability", - "Sorry, but that's not quite right. Bitcoin is highly divisible into its base unit 'satoshi', and it can even be divided into milli-satoshis (1/1000 of a satoshi) on the Lightning Network", - "Nope**.** While fiat currencies are not as divisible as bitcoin, they are easily divisible into smaller denominations." - ], - "question": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade", - "text": "The ability to divide a good is an important attribute for it to be a good store of value.\n\nImagine you have a $100 bill and want to buy a pack of chewing gum that costs 10 cents. The success of the trade depends on the seller having $99.90 in change available in that moment.\n\nIn societies where trade is prevalent, the ability to divide a good into smaller quantities allows for more precise exchange and can make it easier to use in day-to-day transactions.\n\nBitcoin is particularly useful in this regard, as it can be divided down to a hundred millionth of a unit and transmitted in tiny and exact amounts.\n\nFiat currencies are typically divisible down to pocket change, which has little purchasing power, making fiat divisible enough in practice.\n\nGold, while physically divisible, can be difficult to use in small quantities for everyday trade.\n", - "title": "Which of the following is NOT a good store of value due to its difficulty in being easily divided for day-to-day trade" - }, - "scarce": { - "answers": [ - "Scarcity", - "Abundance", - "Ease of production" - ], - "feedback": [ - "Congratulations! You are correct. Did you know that there will only ever be a maximum of 21 million bitcoins in circulation, making it a scarce and valuable asset", - "Sorry, but abundance is not the most important attribute for a store of value. Better luck next time", - "Sorry, but ease of production is not the most important attribute for a store of value. Better luck next time!" - ], - "question": "What is the most important attribute of a store of value", - "text": "A good store of value should have a limited supply, or be scarce.\n\nThis is because scarcity can create value, as people often desire rare or hard-to-obtain items. Bitcoin, for instance, is designed to have a maximum of 21 million units, which gives each owner a known percentage of the total possible supply.\n\nIn contrast, the supply of gold can potentially increase through new mining methods, and fiat currencies are often prone to inflation, leading to a decline in value over time.\n", - "title": "What is the most important attribute of a store of value" - }, - "establishedHistory": { - "answers": [ - "The new arrival has a significant advantage over the established good", - "The established good has a longer history of being valued by society", - "The new arrival is cheaper to produce" - ], - "feedback": [ - "You are correct. A long-established store of value is less likely to be displaced by a new arrival unless the new arrival has a significant advantage over the established good", - "Sorry, but this is actually the reason that a long-established store of value is less likely to be displaced. Better luck next time", - "Nope, wrong. Did you not pay attention in the previous lesson on scarcity?" - ], - "question": "What is the main reason that a long-established store of value could be displaced by a new arrival", - "text": "This is because a well-established store of value is less likely to be displaced by a newcomer, unless it has a significant advantage over the established good.\n\nAdditionally, people are creatures of habit and will keep using what they already know.\n\nGold, for example, has a long history of being valued and has maintained its value over time. In contrast, fiat currencies, which are a relatively recent invention, have a tendency to lose value over time due to inflation.\n\nBitcoin, although it has only been around for a short time, has shown resilience in the market and is likely to continue to be valued.\n", - "title": "What is the main reason that a long-established store of value could be displaced by a new arrival" - }, - "censorshipResistance": { - "answers": [ - "Its decentralized, peer-to-peer network", - "Its physical nature", - "Its regulation by states" - ], - "feedback": [ - "You are correct. The decentralized, peer-to-peer network of Bitcoin allows for transactions to be made without permission, making it a censorship-resistant good", - "No. In fact, physical goods often require permission to cross borders and can easily be confiscated. Better luck next time", - "Sorry, but the opposite is actually true. The fiat banking system, which is regulated by states, requires human intervention to report and prevent certain uses of monetary goods, making it prone to censorship. Try again!" - ], - "question": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good", - "text": "Censorship-resistance is an attribute that has become increasingly important in the digital age, as it refers to the difficulty that external parties, such as corporations or governments, have in preventing an individual from using a particular good.\n\nThis attribute is particularly valuable for individuals living under regimes that enforce capital controls or prohibit certain forms of trade. Bitcoin is often cited as being a censorship-resistant good due to its decentralized, peer-to-peer network, which allows for transactions to be made without human intervention or permission.\n\nIn contrast, the fiat banking system is regulated by states and requires human intervention to report and prevent certain uses of monetary goods, such as capital controls.\n\nGold, although it is not issued by states, can be difficult to transmit at a distance and is therefore more subject to state regulation.\n", - "title": "Which of the following is NOT a reason that Bitcoin is considered a censorship-resistant good" - } - } - } -} diff --git a/chapter-203-the-evolution-of-money-i/203-combined.json b/chapter-203-the-evolution-of-money-i/203-combined.json deleted file mode 100644 index 03a8abf..0000000 --- a/chapter-203-the-evolution-of-money-i/203-combined.json +++ /dev/null @@ -1,112 +0,0 @@ -{ - "TheEvolutionofMoneyI": { - "title": "The Evolution of Money I", - "questions": { - "evolutionMoney": { - "answers": [ - "The use of money as a way to exchange goods and services", - "The history of money's development", - "The exclusive power of governments to create money" - ], - "feedback": [ - "Congrats, you got it right! It's interesting to note that the use of money as a medium of exchange has become more important in modern times due to the rise of electronic payment methods", - "Wrong! But it's good that you're interested in the history of money. Try again", - "Sorry, that's incorrect. It's true that governments do have a lot of control over the creation and issuance of money, but that's not the main focus of modern monetary economics. Try again!" - ], - "question": "What is the main focus of modern monetary economics", - "text": "In modern times, many people in the field of monetary economics focus on the idea that money is mainly used as a way to exchange goods and services.\n\nIn the past century, however, governments have had the exclusive power to create money and have often made it difficult for money to hold its value. This lead people to believe that the main purpose of money is to be used for exchange.\n\nSome have argued that Bitcoin is not a good form of money because its value tends to change too much to be used effectively in transactions.\n\nHowever, this way of thinking is backwards. Throughout history, the use of money has developed in stages, with its value as a store of value coming before its use as a medium of exchange.\n", - "title": "What is the main focus of modern monetary economics" - }, - "collectible": { - "answers": [ - "Coins made of copper and silver", - "Shells, beads, and gold", - "Paper bills with pictures of famous leaders" - ], - "feedback": [ - "Sorry, that's incorrect. Copper and silver coins were not used as money in the very beginning of its evolution", - "Congratulations, you got it right! It's interesting to note that shells, beads, and gold were all valued for their appearance or special qualities before becoming widely used as money", - "Wrong! But at least you're thinking about the more modern forms of money. Paper bills with pictures of famous leaders were not used in the very beginning of money's evolution." - ], - "question": "What were some examples of early forms of money that were valued for their appearance or special qualities", - "text": "Throughout history, money has gone through four stages of development. In the very beginning, people only wanted money because of its special qualities, and it was mostly seen as a decorative item or a collectible.;\n\nExamples of this include shells, beads, and gold, which were all collectibles before becoming widely used as money.\n", - "title": "What were some examples of early forms of money that were valued for their appearance or special qualities" - }, - "storeOfValue": { - "answers": [ - "The number of people who want it as a store of value", - "The weather", - "The color of the store of value" - ], - "feedback": [ - "Nice work! The purchasing power of a store of value is determined by the number of people who want to use it as a way to store value. As more people want to use it for this purpose, the value of the store of value increases", - "Sorry, the weather is definitely a factor in many things, but it's not quite the right answer for this question. Maybe try looking at other factors that could affect the value of a store of value", - "I'm sorry to say that the color of a store of value probably doesn't have much of an effect on its purchasing power. It's definitely an interesting idea though! Maybe try considering other characteristics that could affect the value of a store of value." - ], - "question": "What determines the purchasing power of a store of value", - "text": "The store of value is the second stage of money's evolution. When enough people want money because of its special qualities, it becomes a way to keep and save value over time, to transport hard earned wealth into the future.\n\nAs more people recognize a good as a good way to store value, the good's value increases as more people want it for this purpose.\n\nEventually, the value of a store of value will stop increasing as it becomes widely held and fewer new people want it as a store of value.\n", - "title": "What determines the purchasing power of a store of value" - }, - "mediumOfExchange": { - "answers": [ - "The first time bitcoin had market value", - "The invention of pineapple as a pizza topping", - "again" - ], - "feedback": [ - "You got it right. Bitcoin Pizza Day is celebrated to mark the first time that bitcoin had market value, which was when Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. It's an important event in the evolution of bitcoin", - "While pineapple is a beautiful fruit, it has no place on a real pizza! Apart from this side note, your answer is wrong. Try again", - "Sorry, the best pizza recipe is a matter of personal preference. While pizza is always delicious, it's not the focus of Bitcoin Pizza Day. Maybe try considering the significance of the event in the history of bitcoin." - ], - "question": "What is Bitcoin Pizza Day celebrated for", - "text": "When money is used to store value, its value becomes stable eventually. And when the value of money is stable, it becomes the best option to facilitate trade as it's easy to use and doesn't have the coordination burden of barter.\n\nIn the early days of Bitcoin in 2010, some people did not recognize the opportunity cost to use Bitcoin as a medium of exchange rather than a nascent store of value.\n\nThere is a famous story about Laszlo Hanyecz who traded 10,000 bitcoins (which were worth about $165 million at the time of this writing) for just two pizzas. When Laszlo acquired those pizzas, it marked the first time that bitcoin had market value.\n\nToday, Laszlo's pizza is celebrated globally on May 22 as Bitcoin Pizza Day as an important step and milestone in the evolution of bitcoin as money.\n", - "title": "What is Bitcoin Pizza Day celebrated for" - }, - "unitOfAccount": { - "answers": [ - "When merchants are willing to accept it as payment without considering the exchange rate with other currencies", - "When it is used to buy ice cream", - "When it is used to play games with friends" - ], - "feedback": [ - "Congrats! For bitcoin to be considered a unit of account, it needs to be widely accepted as a form of payment without regard to its exchange rate with other currencies. This means that merchants would be willing to accept it as payment without considering the value of bitcoin in terms of other currencie", - "I'm sorry, but while ice cream is delicious, it's not quite the right answer. Maybe try considering other factors that could affect the acceptance of bitcoin as a unit of account", - "Playing games with friends is always fun, but unfortunately it's not the correct answer. Maybe try thinking about what it would take for bitcoin to be widely accepted as a form of payment.\"" - ], - "question": "How can bitcoin be considered a unit of account", - "text": "When money is commonly used for trading, goods are priced in terms of it. This means that most goods can be exchanged for money at a certain rate.\n\nIt is not accurate to say that many goods can be bought with bitcoin today. For example, while a cup of coffee might be available for purchase using bitcoin, the price listed is not the true value of bitcoin. Instead, it is the dollar price that the merchant wants, converted into bitcoin based on the current exchange rate between dollars and bitcoin.\n\nIf the value of bitcoin goes down in terms of dollars, the merchant will ask for more bitcoin to equal the same dollar amount.\n\nBitcoin can only be considered a unit of account (a standard way to measure the value of goods) when merchants are willing to accept it for payment without considering the exchange rate with other currencies.\n", - "title": "How can bitcoin be considered a unit of account" - }, - "partlyMonetized": { - "answers": [ - "A good that is not yet widely used as a unit of account", - "A currency that is only accepted in certain countries", - "A good that is used as a medium of exchange but not for storing value or measuring the value of goods" - ], - "feedback": [ - "Congratulations! You've chosen the correct answer. A partly monetized good is one that is not yet widely accepted as a unit of account, which means it is not commonly used as a standard way to measure the value of other goods. This can include goods like gold, which is often used to store value but not typically used for everyday transactions", - "That's a creative answer, but unfortunately not quite right. Better luck next time", - "Not quite correct, but close! Keep thinking." - ], - "question": "What is the meaning of the term \"partly monetized\"", - "text": "Goods that are not widely accepted as a unit of account may be considered \"partly monetized\" because they are used for some purposes related to money, but not all.\n\nGold is an example of a partly monetized good that is used to store value but is not widely used as a medium of exchange or unit of account. In some countries, different goods may be used for different purposes related to money, such as one good being used as a medium of exchange and another being used as a store of value or unit of account.\n\nThe dollar is an example of a good that is widely used for all three purposes of money in the United States, while the peso was an example of a good that was used as a medium of exchange in Argentina but was not a good store of value because of its volatility and regular loss of purchasing power.\n", - "title": "What is the meaning of the term \"partly monetized\"" - }, - "monetizationStage": { - "answers": [ - "It is in the process of becoming more widely accepted as money", - "It is currently being used as a way to trade goods and services, like other currencies.", - "It has already completed the process of becoming more widely accepted as money and is now being used as a form of currency." - ], - "feedback": [ - "Bingo! You're right on the money (pun intended) with this answer. Did you know that the process of Bitcoin becoming more widely accepted as money is similar to the process gold went through to become a widely accepted form of currency", - "Ha! You must have missed the part about it taking several years for Bitcoin to reach this stage. Keep reading", - "Sorry to break it to you, but Bitcoin is still in the process of becoming more widely accepted as money. Better luck next time!" - ], - "question": "What is the current stage of Bitcoin's evolution", - "text": "Bitcoin is currently changing from the first stage of being used as money to the second stage. It may take several years for Bitcoin to be used as a way to trade goods and services, like other currencies.\n\nThe process of Bitcoin becoming more widely accepted as money is uncertain, as the same process took a long time for gold and no one alive has seen a good become money in the same way that is happening with Bitcoin. There is not a lot of experience with this process, but developments around the world are very promising and happening faster in the interconnected digital age.\n", - "title": "What is the current stage of Bitcoin's evolution" - } - } - } -} diff --git a/chapter-204-the-evolution-of-money-ii/204-combined.json b/chapter-204-the-evolution-of-money-ii/204-combined.json deleted file mode 100644 index f0d7855..0000000 --- a/chapter-204-the-evolution-of-money-ii/204-combined.json +++ /dev/null @@ -1,82 +0,0 @@ -{ - "TheEvolutionofMoneyII": { - "title": "The Evolution of Money II", - "questions": { - "notFromGovernment": { - "answers": [ - "Money is the most tradable good in any given market.", - "Money is a government creation.", - "Money is a magical substance created by fairies." - ], - "feedback": [ - "Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money", - "Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time", - "Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!" - ], - "question": "What is money", - "text": "There is a popular misconception that money is a government creation and cannot exist without government. This is false.\n\nThe history of money goes back thousands of years to times when governments did not exist, but money did.\n\nThis proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.\n", - "title": "What is money" - }, - "primaryFunction": { - "answers": [ - "To improve the workings of small barter networks.", - "To facilitate large scale trade networks.", - "To reduce the need for credit." - ], - "feedback": [ - "Congratulations! It's interesting to think about how money has evolved over time, from its early use as a means of facilitating trade in small communities to its current role as a medium of exchange in modern economies", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! Credit has been around for almost as long as money, and it's likely here to stay. Better luck with your next answer." - ], - "question": "What was the primary function of money", - "text": "Primitive money existed long before large scale trade networks. Archeologists found that early humans used valuable tools like arrowheads, collectibles like cowry shells and commodities like barley as primitive money.\n\nThe main advantage and primary function of these primitive moneys was to improve the workings of even small barter networks. Primitive moneys achieved this by eliminating the need to match coincidences of wants, interests, supply or skill. They also greatly reduced the need for credit, which, in the absence of writing in prehistoric times, was difficult to keep track of.\n", - "title": "What was the primary function of money" - }, - "monetaryMetals": { - "answers": [ - "Their ability to withstand time and wear.", - "Their rarity and difficulty to produce.", - "Their colorful and decorative appearance." - ], - "feedback": [ - "Correct! It's impressive to think about how certain materials, like metal, have been able to hold value over centuries and even millennia. Good work", - "Nice try, but not quite right. Better luck with your next answer", - "Sorry, looks like you were a little off the mark this time. Maybe try focusing on the functional aspects of money rather than its aesthetic appeal." - ], - "question": "What made metals valuable as a form of money", - "text": "Metals were difficult to make, which made them rare. They also lasted longer than other materials like shells, grains, and beads. This made them valuable and easy to carry, or portable.\n\nAs technology improved, especially in the production of metal, humans were able to create more advanced, better forms of money.\n", - "title": "What made metals valuable as a form of money" - }, - "stockToFlow": { - "answers": [ - "A measure of the rate at which new units of a monetary good are introduced into the existing supply.", - "A measure of a company's financial stability.", - "A ratio used to compare the value of different currencies." - ], - "feedback": [ - "That's right! The Stock to Flow ratio can be a useful tool for understanding the stability and scarcity of a particular currency or commodity. Good job", - "Sorry, looks like you're mixing up your business jargon. Better luck with your next answer", - "Wrong! But hey, at least you're thinking about the global economy. Better luck with your next guess." - ], - "question": "What is the Stock to Flow ratio", - "text": "The Stock to Flow ratio is a measure of the rate at which new units of money are added to the existing supply.\n\nTo calculate it, you divide the existing amount of money by the amount produced each year.\n\nFor something to be a good way to save value, it should become more valuable when people want to use it to save, but the people who make it should not be able to add too much of it, which would make it less valuable.\n", - "title": "What is the Stock to Flow ratio" - }, - "hardMoney": { - "answers": [ - "The difficulty of producing new units of a monetary good.", - "The value of money compared to other currencies.", - "The amount of money in circulation." - ], - "feedback": [ - "That's it! **** It's interesting to think about how the hardness of money can change over time as technology advances and what was once difficult to produce becomes easier. Good job", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! The hardness of money has more to do with its production than its quantity. Better luck with your next answer." - ], - "question": "What is the hardness of money", - "text": "The difficulty of producing new units of money compared to other forms of money is called its hardness. This can change over time as technology improves and what was once difficult to produce could become easier.\n\nIn precolonial Ghana (Africa), aggry beads (made of glass) were used as money. Glassmaking was an expensive craft in that region, which gave the aggry beads a high stock-to-flow ratio and made them rather scarce.\n\nIn the 16th century, European explorers discovered the high value ascribed to these beads by the west Africans and began importing them in mass quantities; as European glassmaking technology made them extremely cheap to produce.\n\nSlowly but surely, the Europeans used these cheaply produced beads to acquire most of the precious resources of Africa. The net effect of this incursion into Africa was the transference its vast natural resource wealth to Europeans and the conversion of aggry beads from hard money to soft money.\n\nAs societies continued to evolve, they began to move away from artifact money like stones and glass beads and towards monetary metals.\n", - "title": "What is the hardness of money" - } - } - } -} diff --git a/chapter-205-the-evolution-of-money-iii/205-combined.json b/chapter-205-the-evolution-of-money-iii/205-combined.json deleted file mode 100644 index 6b7c2d4..0000000 --- a/chapter-205-the-evolution-of-money-iii/205-combined.json +++ /dev/null @@ -1,127 +0,0 @@ -{ - "TheEvolutionofMoneyIII": { - "title": "The Evolution of Money III", - "questions": { - "convergingOnGold": { - "answers": [ - "Because it cannot be destroyed or synthesized from other materials.", - "Because it is abundant and easy to find.", - "Because it is the most attractive and visually appealing metal." - ], - "feedback": [ - "Exactly**.** It's interesting to think about how the qualities of different materials, such as gold's durability and rarity, can make them more valuable and desirable as a form of money. Good job", - "Sorry, looks like you got it backwards! Better luck with your next guess", - "Wrong! While gold may have a certain aesthetic appeal, it's ultimately its functional qualities that make it a valuable form of money. Better luck with your next answer." - ], - "question": "Why did the free market choose gold as a form of money", - "text": "From all monetary metals, the free market ultimately chose gold as a form of money because it has two important qualities that keep its value stable over long periods of time and across many regions of the world:\n\n1\\) Gold cannot be destroyed, and\n\n2\\) Gold cannot be made from other materials.\n", - "title": "Why did the free market choose gold as a form of money" - }, - "originsOfPaperMoney": { - "answers": [ - "To allow for the convenient exchange of gold in place of physically transporting it", - "To represent a promise to pay a debt", - "To transport large amounts of gold" - ], - "feedback": [ - "Congratulations! You're a gold exchange genius! Did you know that these paper notes were also known as \"bearer instruments,\" which means that they could be traded and redeemed by anyone in possession of them", - "Oh no, it looks like you've got a case of promissory confusion! Better luck next time", - "Transporting gold in paper form? That's a bold move." - ], - "question": "What were paper notes used for during the expansion of trade routes", - "text": "Gold can be made into coins or bars of a specific weight and purity. When trade routes expanded, it became riskier to transport large amounts of gold.\n\nAs a solution, paper notes from trusted banks that could be exchanged for gold were used. In 900 CE, Chinese merchants initiated the use of paper currency to avoid having to carry thousands of coins over long distances. They started trading paper receipts from custodians where they had deposited money or goods.\n\nIn the beginning these paper notes were personally registered, but they soon became a written order to pay the amount to whomever had it in their possession (bearer instrument). These notes can be seen as a predecessor to today's banknotes.\n", - "title": "What were paper notes used for during the expansion of trade routes" - }, - "fractionalReserve": { - "answers": [ - "To allow people to earn money from their gold", - "To make it easier for banks to hold large amounts of gold", - "To make it easier for banks to make loans" - ], - "feedback": [ - "Congratulations! You're a banking history expert! Did you know that Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans", - "Hmm, it looks like you're a little off the mark. Better luck next time", - "Sorry, but it looks like you're mixing up your banking systems. Better luck next time!" - ], - "question": "Why did Fractional Reserve Banking develop", - "text": "Fractional Reserve Banking is a system in which banks are allowed to hold only a fraction of the deposits they receive as reserves, while using the rest to make loans.\n\nOne reason this system developed is because people wanted to earn money from their gold, rather than paying to store it.\n\nThey could do this by allowing a bank or vault to lend out their gold and receiving interest payment in return.\n\nIf more people deposited their gold than wanted to take it back, the bank could make more profit by using the same gold as collateral for multiple loans, hence keeping only a fraction of loans in reserve.\n", - "title": "Why did Fractional Reserve Banking develop" - }, - "bankRun": { - "answers": [ - "A sudden drain of deposits en masse, leading to systemic fears and drying up of liquidity", - "A nice vacation for everyone", - "A sudden increase in the price of gasoline" - ], - "feedback": [ - "masse, leading to systemic fears and drying up of liquidity", - "Sorry, taking a vacation isn't quite the outcome we're looking for here. Better luck next time", - "Gas prices might fluctuate for a variety of reasons, but this particular scenario doesn't have much to do with it. Try again!" - ], - "question": "What is a potential outcome of banks issuing more paper notes than they held deposits", - "text": "Banks sometimes issued more paper notes than they had deposits, which could cause problems in the economy. If people started to doubt the solvency of a bank, they might rush to withdraw their money all at once before others do. This is called a bank run.\n\nThe sudden loss of deposits from the bank run could reveal that the bank was using too much leverage through Fractional Reserve Banking. This could cause a lack of liquidity and bring the whole financial system to a stop.\n", - "title": "What is a potential outcome of banks issuing more paper notes than they held deposits" - }, - "modernCentralBanking": { - "answers": [ - "To create a unified national currency and provide a backup plan for other banks", - "To sell ice cream and provide a place for people to play games", - "To act as a personal stylist and wardrobe consultant for the royal family" - ], - "feedback": [ - "Congratulations, you got it right! Did you know that central banks also act as the \"lender of last resort,\" meaning they can give out money when needed to make sure people's deposits are secure", - "I'm sorry, but central banks do not sell ice cream or provide a place for people to play games. They have much more important responsibilities", - "I'm afraid you are mistaken. Central banks do not act as personal stylists or wardrobe consultants for the royal family. Try again!" - ], - "question": "What is the purpose of a central bank", - "text": "To counter the problem of bank runs, governments created their own banks called \"central banks.\"\n\nThese central banks have the special power to create money. They act as a backup plan for when commercial banks run out of reserves and need extra money to stay open.\n\nBecause of this function, central banks are also called the \"lenders of last resort,\" meaning they can create and give out money when commercial banks need liquidity to service withdrawals.\n", - "title": "What is the purpose of a central bank" - }, - "goldBacked": { - "answers": [ - "It made it difficult for governments to borrow money", - "It made it hard for people to save money in the bank", - "It required governments to hold a petting zoo in their treasury" - ], - "feedback": [ - "Yep! The gold standard made it difficult for governments to borrow money because they had to hold a certain amount of gold in reserve in order to issue a certain amount of currency", - "I'm sorry, but the gold standard did not make it hard for people to save money in the bank. It was actually a problem for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves", - "An amusing idea, but nonsense nevertheless! Try again." - ], - "question": "What was the main problem with the gold standard system for governments and citizens", - "text": "In the past, some governments linked the value of their currency to a specific amount of gold, a system known as a \"gold standard.\" This meant that the government had to hold a certain amount of gold in reserve in order to issue a certain amount of currency.\n\nThis system limited the government's ability to borrow money because they could not simply print more currency to cover the cost of borrowing. Governments often borrowed money to finance wars or other expensive projects, but the gold standard made it difficult for them to do so without first accumulating enough gold to back the new currency they wanted to issue.\n\nThe gold standard was also problematic for citizens because it did not provide any guarantee that their deposits in the bank would be safe, as the value of their money was dependent on the government's ability to maintain its gold reserves.\n", - "title": "What was the main problem with the gold standard system for governments and citizens" - }, - "brettonWoods": { - "answers": [ - "To link the value of other countries' currencies to the value of gold through the US dollar", - "To create a new global currency made out of chocolate coins", - "To establish a network of trampoline parks in every major city" - ], - "feedback": [ - "That's right. The Bretton Woods system was established after World War II in order to address global economic instability and high levels of debt. It linked the value of other countries' currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate", - "Sweet idea, but not very practical. Or would you prefer your money to melt away even faster? Try again", - "Trampoline parks would have surely made for a great distraction of the public from the strange machinations of the Bretton Woods system. Have you considered applying as an advisor at the IMF or World Bank? Try again!" - ], - "question": "What was the main purpose of the Bretton Woods system", - "text": "After World War I and II, many countries were financially exhausted and did not have a lot of money. The United States had a lot of gold because they sold a lot of weapons and other military equipment to other countries during the wars. As a result, the United States controlled about two-thirds of the world's gold.\n\nIn order to fix the global economy, a new system was created where countries would link their own currencies to the value of the US dollar.\n\nThe US dollar, in turn, would be linked to the value of gold. This meant that the value of other countries' currencies would be based on the value of the US dollar, which was based on the amount of gold the United States had.\n", - "title": "What was the main purpose of the Bretton Woods system" - }, - "globalReserve": { - "answers": [ - "A type of money that is widely used in international trade and financial transactions", - "A currency made out of rainbow-colored paper and glitter", - "The currency of the nation that pays the biggest share of the World Trade Organization's budget" - ], - "feedback": [ - "Correct! A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted", - "While most banknotes are made of colorful pieces of paper with strings of glitter as security features in them, this is not what defines a global reserve currency. Try again", - "Surely this would benefit the WTO's funding immensely, but this is not how the global reserve currency is defined or chosen. Try again!" - ], - "question": "What is a global reserve currency", - "text": "A global reserve currency is a type of money that is widely used in international trade and financial transactions. It is the preferred or most in-demand currency for settling transactions, as it is generally stable and widely accepted.\n\nChanges to the global reserve currency can have significant geopolitical implications, as it can affect the balance of power between countries.\n\nThe dominant global reserve currency has typically had a lifespan of several decades, with the US dollar serving as the dominant global reserve currency for much of the 20th century.\n", - "title": "What is a global reserve currency" - } - } - } -} diff --git a/chapter-206-the-evolution-of-money-iv/206-combined.json b/chapter-206-the-evolution-of-money-iv/206-combined.json deleted file mode 100644 index 139e189..0000000 --- a/chapter-206-the-evolution-of-money-iv/206-combined.json +++ /dev/null @@ -1,127 +0,0 @@ -{ - "TheEvolutionofMoneyIV": { - "title": "The Evolution of Money IV", - "questions": { - "nixonShock": { - "answers": [ - "It ended and was replaced by a new monetary system based on floating exchange rates", - "It became a popular TV game show", - "It was turned into a giant roller coaster ride" - ], - "feedback": [ - "Correct! In 1971, President Nixon directed the US Treasury Secretary to stop allowing foreign governments to exchange their dollars for gold", - "Not quite, but a game show version of the Bretton Woods system sounds like it could be entertaining", - "I see what you did there, but this isn't the correct answer here. Try again!" - ], - "question": "What happened to the Bretton Woods system in 1971", - "text": "The Bretton Woods system was a monetary system established after World War II in order to address global economic instability and high levels of debt.\n\nUnder this system, many countries pegged their own currencies to the value of the US dollar, which was itself pegged to the value of gold at a fixed exchange rate. This meant that the value of other countries' currencies was indirectly tied to the value of gold through the US dollar.\n\nIn 1971, United States President Richard Nixon directed the US Treasury to stop allowing foreign governments to exchange their dollars for gold, a process known as \"convertibility.\"\n\nThe sudden end of convertibility of dollars for gold shocked the world and became known as the Nixon Shock, effectively ending the Bretton Woods system fixed exchange rates. It marked the beginning of a new monetary system based on floating exchange rates.\n", - "title": "What happened to the Bretton Woods system in 1971" - }, - "fiatEra": { - "answers": [ - "A currency issued by a government decree", - "A type of currency that is only accepted by merchants who love pizza", - "A currency made out of precious gems and metals" - ], - "feedback": [ - "Good job. Fiat money, such as Federal Reserve notes, is a type of currency issued by a government that is not directly exchangeable for a fixed amount of something else, like gold or silver. Its value comes from the fact that the government says it is valuable and people trust that they will be able to use it to buy things", - "Not quite, but a currency that is only accepted by pizza-loving merchants sounds like it could be a delicious way to pay for things", - "Nope, but a currency made out of precious gems and metals would definitely be shiny and eye-catching." - ], - "question": "What does the word \"fiat\" mean when it is used to talk about money", - "text": "\"Fiat\" is a word that comes from Latin and means \"let it be done.\" When it is used to talk about money, it means that a government is creating a currency by decree alone.\n\nSince the Nixon Shock, fiat money is not backed by gold or silver and neither can it be directly converted for a fixed amount of gold, as it used to be before.\n\nThis means that their value comes from the fact that the government says they are valuable and that people trust that they will be able to use them to buy things.\n\nIn addition, governments often make it a law (legal tender) that merchants have to accept this type of fiat currency and that it is the only type of currency that can be used to pay taxes.\n", - "title": "What does the word \"fiat\" mean when it is used to talk about money" - }, - "digitalFiat": { - "answers": [ - "A government issued money that exists only in digital form, like on a computer or phone", - "A type of currency that can only be used to buy things in the internet", - "A currency that can only be sent by email" - ], - "feedback": [ - "Good job. Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins, and is becoming increasingly popular due to its lower costs, faster speeds, and increased capabilities for surveillance", - "Not quite. While digital fiat is digital like the internet, it is also widely accepted at brick and mortar merchants. Try again", - "Nope, you guessed wrong. The use of such a currency would be extremely limited and doesn't exist to our knowledge. Try again!" - ], - "question": "What is digital fiat", - "text": "Digital fiat is a type of money that exists only in digital form, like on a computer or phone. It is a digital representation of physical cash, such as paper money or coins.\n\nDigital fiat became possible with the proliferation of digital communication networks, like the internet, and the growth of consumer devices like computers and phones that can connect to these networks. Standardized payment protocols, which are established ways of making payments online, also played a role in the emergence of digital fiat.\n\nDigital fiat is increasingly replacing physical fiat due to its lower costs, faster speeds, and increased capabilities for surveillance. In other words, it is cheaper and faster to use digital fiat and it is easier to track transactions made with digital fiat.\n", - "title": "What is digital fiat" - }, - "plasticCredit": { - "answers": [ - "A type of payment card that allows people to borrow money to pay for things", - "A card that grants the holder special powers, like the ability to fly", - "A card that allows people to pay for things by waving their hand over a sensor" - ], - "feedback": [ - "Correct. A credit card is a type of payment card that allows people to borrow money from the credit card company to pay for things now, rather than saving up money to pay for things later. There are about three billion credit cards in use around the world today", - "Not quite, but a credit card that grants special powers like the ability to fly sounds like it could be a lot of fun", - "Nope, but a credit card that allows people to pay for things by waving their hand over a sensor sounds like something out of a science fiction movie, not real life." - ], - "question": "What is a credit card", - "text": "The credit card is a type of payment card that allows people to borrow money to pay for things. When people use credit cards, they are borrowing money from the credit card company to pay for things now, rather than saving up money to pay for things later.\n\nThis has gradually normalized the act of borrowing for consumption, something that impacts the time preference of users. Instead of waiting to save up the money, the invention of credit cards has made it more common for people to borrow money to buy things they want right away\n\nToday, there are about three billion credit cards in use around the world.\n", - "title": "What is a credit card" - }, - "doubleSpendProblem": { - "answers": [ - "The ability to ensure that the same digital unit of money cannot be spent more than once by its owner", - "The desire to create a digital currency that could only be spent on Mars", - "The idea of rewarding honesty and making dishonesty very costly" - ], - "feedback": [ - "Good job. In the digital world, where it is easy to copy things, it is important to make sure that the same digital unit of money (like a digital coin) cannot be spent more than once by its owner. This was a key factor in the creation of Bitcoin, as it is important for a monetary system that works without a central authority (like a government)", - "Not quite, but a digital currency that could only be spent on Mars sounds like it could be a fun way to support the colonization of the red planet", - "Nope, but the idea of rewarding honesty and making dishonesty very costly is a key factor in the creation of any monetary system, as it helps to ensure trust and cooperation among participants." - ], - "question": "What was a key factor in the creation of Bitcoin", - "text": "In the digital world, it is easy to copy things, so it is important to make sure that the same digital unit of money cannot be spent more than once by its owner.\n\nIn a monetary system with a central authority (like a government), this problem is trivially solved by keeping a ledger of transactions managed by the central authority. However, this normally represents a single point of failure from both availability and trust viewpoints.\n\nIn a decentralized system, the double-spending problem is significantly harder to solve. Many people have tried to create digital money that is not controlled by a government, but they have all had their own unique challenges.\n\nSatoshi Nakamoto took all of these lessons into account and was the first to solve the double spending problem with the implementation of Bitcoin by creating a decentralized system that rewards honesty and makes it very costly to be dishonest.\n", - "title": "What was a key factor in the creation of Bitcoin" - }, - "satoshisBreakthrough": { - "answers": [ - "The double spending problem", - "The problem of double coincidence of wants", - "The halving problem" - ], - "feedback": [ - "Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once", - "Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again", - "Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!" - ], - "question": "Which problem did Satoshi have to solve to create Bitcoin", - "text": "Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.\n\nHis solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.\n", - "title": "Which problem did Satoshi have to solve to create Bitcoin" - }, - "nativelyDigital": { - "answers": [ - "Digital fiat money is based on a product from the industrial age, while Bitcoin is a purpose-built money for the digital age", - "Digital fiat money is open-source, while Bitcoin is a closed system", - "Digital fiat money is designed to increase in value over time, while Bitcoin is designed to lose value" - ], - "feedback": [ - "for the digital age", - "It seems you got things mixed up. It's actually the other way around. Try again", - "Sorry, that's not quite right. Bitcoin is likely to increase in value over time due to its strictly fixed supply and growing deman, while inflation decreases the value of fiat currencies quite reliably." - ], - "question": "What is the main difference between digital fiat money and Bitcoin", - "text": "Digital fiat money is a digital version of a product that was designed for the industrial age. It has all of the same problems and limitations as the original product. It is a closed system that is heavily controlled and designed to lose value over time.\n\nBitcoin is a type of digital money that was specifically designed for the digital age. It can be improved and updated, and anyone can see and change the code that it is based on. It benefits from the ideas and creativity of anyone who works on it.\n", - "title": "What is the main difference between digital fiat money and Bitcoin" - }, - "CBDCs": { - "answers": [ - "To provide surveillance and censorship capabilities to the issuer", - "To compete with Bitcoin as a store of value", - "To create a decentralized and permissionless digital currency" - ], - "feedback": [ - "That's correct! CBDCs are like the Big Brother of digital currencies, designed to provide surveillance and censorship capabilities to the issuer. Creepy, but correct", - "Haha, sorry but no. While Bitcoin and CBDCs are both digital currencies, they have very different purposes and characteristics. CBDCs are issued and backed by central banks, while Bitcoin is decentralized and not controlled by any government or financial institution", - "Oh boy, that's a creative answer but unfortunately not quite right. CBDCs are not designed to be decentralized or permissionless like Bitcoin. In fact, they are issued and backed by central banks, and their main purpose is to be the ultimate tool for control in the digital age. Better luck next time!" - ], - "question": "What is the main purpose of central bank digital currencies (CBDCs)", - "text": "Central bank digital currencies (CBDCs) are digital versions of traditional currency that are issued and backed by a central bank.\n\nCBDCs are not decentralized or permissionless like Bitcoin, and are instead intended to compete with other forms of digital payment methods for market dominance.\n\nOne of the main reasons for the development of CBDCs is the surveillance and censorship capabilities they provide the issuer.\n\nAdditionally, in an age of negative real interest rates (when the inflation rate is higher than the interest rate), the widespread adoption of CBDCs often goes hand in hand with the phasing out of physical cash, which can lead to the devaluation of the currency in real terms.\n", - "title": "What is the main purpose of central bank digital currencies (CBDCs)" - } - } - } -} diff --git a/chapter-301-bitcoin-why-was-it-created/301-combined.json b/chapter-301-bitcoin-why-was-it-created/301-combined.json deleted file mode 100644 index 607c7f5..0000000 --- a/chapter-301-bitcoin-why-was-it-created/301-combined.json +++ /dev/null @@ -1,97 +0,0 @@ -{ - "BitcoinWhywasitcreated": { - "title": "Bitcoin: Why was it created?", - "questions": { - "rootProblem": { - "answers": [ - "The trust that is required to make it work", - "The color of the physical bills", - "The fact that it requires physical storage" - ], - "feedback": [ - "You got it right! The root problem with conventional currency is the trust that is required to make it work. It's an interesting point, as trust is a fundamental aspect of any currency system", - "Interesting take, but unfortunately not the correct answer. Conventional currency isn't just about the aesthetics of its physical form, although I'm sure some people might argue otherwise", - "Haha, while it might be inconvenient to lug around a wallet full of cash, that's not the root problem with conventional currency. But don't worry, you can try again!" - ], - "question": "What is the root problem with conventional currency according to Satoshi Nakamoto", - "text": "So what was the motivation to create Bitcoin? In his announcement of the project, Satoshi Nakamoto gave the following explanation:\n\n\"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.\"\n", - "title": "What is the root problem with conventional currency according to Satoshi Nakamoto" - }, - "bitcoinCreator": { - "answers": [ - "An unknown programmer who used the pseudonym \"Satoshi Nakamoto\"", - "Craig Wright", - "Elon Musk" - ], - "feedback": [ - "Correct! It's an interesting mystery, but it's worth noting that the bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone", - "I'm sorry, but it looks like Craig Wright's claim to being the creator of bitcoin has been thoroughly debunked. Better luck with the next answer", - "Nope! Elon Musk's talents might be better suited to launching rockets and building electric cars rather than creating revolutionary digital currencies. Try again!" - ], - "question": "Who is the creator of bitcoin", - "text": "The creator of bitcoin, who used the pseudonym \"Satoshi Nakamoto,\" is unknown and no claims of being the creator have been verified. Satoshi was only involved in the project for a short time before disappearing.\n\nThe bitcoin protocol is based on open source code, meaning that anyone can review it. This transparency makes it the most reviewed code in existence. Despite the mystery of its creator, bitcoin itself is an open and transparent monetary network that can be examined and used by anyone.\n", - "title": "Who is the creator of bitcoin" - }, - "fiatRequiresTrust": { - "answers": [ - "The need for trusted third parties to make a currency work", - "Lack of a physical form for currency", - "Inflation caused by central authorities issuing more units" - ], - "feedback": [ - "Exactly. Bitcoin requires no trusted third party and allows for transactions to be made directly between individuals, called peer-to-peer, rather than through a central authority or intermediaries", - "Nope. That's not it. Try again", - "Arbitrary inflation of the money supply by centralized issuers is indeed a problem that bitcoin solves elegantly, but there's a more foundational problem that Satoshi addressed. Try again!" - ], - "question": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin", - "text": "The post-1971 fiat currency system requires trust at all levels because it is debt-based and lacks a scarce anchor. This includes trust in the ability to pay off debts in the future, trust in commercial and central banks not to debase the currency, and trust in their ability to allow access to and freedom to use funds for transactions.\n\nThis trust has been violated numerous times, including during the 2008/09 Global Financial Crisis. In order to address this issue, Satoshi Nakamoto aimed to create a digital form of money that did not require trusting third parties for transactions and could not be debased by a central authority issuing more units.\n", - "title": "What was the main issue that Satoshi Nakamoto aimed to address with the creation of bitcoin" - }, - "moneyPrinting": { - "answers": [ - "Asset bubbles in stock and real estate markets that experience corrections roughly every decade", - "A sudden increase in the popularity of polka music", - "A decrease in the number of people who believe in extraterrestrial life forms" - ], - "feedback": [ - "Bullseye! Asset bubbles in stock and real estate markets are indeed one of the main consequences of excessive money printing and credit expansion. It's worth noting that these bubbles often disproportionately benefit those closest to the source of new money, while lower income individuals are often the most affected by the inflation and economic booms and busts that result", - "That's not the right wavelength here! While some believe easy money has a negative impact on music, this is not the right answer", - "Your guess is out of this world. While it's certainly interesting to speculate about the existence of aliens, it has nothing to do with the consequences of excessive money printing and credit expansion." - ], - "question": "What is one of the main consequences of excessive money printing and credit expansion", - "text": "Excessive money printing and credit expansion can cause numerous social and economic issues, including asset bubbles in stocks and real estate markets which tend to experience corrections roughly every decade.\n\nWhile those closest to the source of new money often benefit greatly from these cycles, lower income individuals who don't own valuable assets and rely on regular paychecks are often the most affected by inflation and economic booms and busts created by the fiat currency system.\n\nA well-known example of this is the Global Financial Crisis that began in 2008, which was preceded by a significant accumulation of debt and risk in the commercial banking sector.\n", - "title": "What is one of the main consequences of excessive money printing and credit expansion" - }, - "genesisBlock": { - "answers": [ - "To take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system", - "To create a digital form of money that could be easily debased by a central authority", - "To make it easier for third parties to facilitate transactions" - ], - "feedback": [ - "That's exactly right. Take a wild guess what those financial elites think about bitcoin", - "No, silly. We already have that with fiat. Try again and think about Satoshi's message in the Genesis Block before you answer", - "Sorry, that's not quite right. While third parties can be useful for facilitating transactions, trust in these intermediaries was one of the issues that Satoshi Nakamoto aimed to address with the creation of Bitcoin. Maybe try again with a different answer." - ], - "question": "Why did Satoshi Nakamoto create Bitcoin", - "text": "It is clear why Satoshi Nakamoto created Bitcoin when we examine the first block of the Bitcoin blockchain, called the Genesis block.\n\nThis block was created by Satoshi when he launched Bitcoin in 2009 and includes a reference to banks receiving bailouts following the 2008/09 Global Financial Crisis.\n\n\"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks\"\n\nThis crisis, in which trust in traditional financial systems was severely damaged, inspired Satoshi to create a digital form of money that does not require trusting third parties for transactions and cannot be debased by a central authority issuing more units.\n", - "title": "Why did Satoshi Nakamoto create Bitcoin" - }, - "cypherpunks": { - "answers": [ - "The Cypherpunks are a group of individuals who seek to use cryptography to promote privacy and security in the digital age", - "The Cypherpunks are a group of hackers who aim to steal personal data and sensitive information through the use of cryptography", - "The Cypherpunks are a group of cryptographers who seek to create complex mathematical equations that are difficult to solve" - ], - "feedback": [ - "Well done! It's interesting to note that the Cypherpunks' goal of using cryptography to promote privacy and security is particularly relevant in today's digital age, where increasing surveillance can lead to the erosion of freedoms", - "Sorry, that's not quite right. While the use of cryptography can certainly be beneficial for hackers, the Cypherpunks seek to use cryptography for the opposite purpose. Maybe try again with a different answer", - "Nope. While cryptography does involve the use of complex mathematical equations, the Cypherpunks are not primarily interested in creating these equations for their own sake. Try again!" - ], - "question": "Who are the Cypherpunks and what is their goal", - "text": "Bitcoin is the result of decades of research work by a group of individuals who call themselves Cypherpunks. They are interested in using cryptography to promote privacy and security in a world where increasing surveillance in the digital age can lead to erosion of freedoms.\n\nEarlier digital cash systems that relied on peer-to-peer (P2P) networks had one or both of the following problems:\n\n * They required a central authority to manage the ledger of ownership.\n * The currency units could be copied, resulting in the \"double-spending problem\" where a single unit could be spent multiple times.\n\n Satoshi addressed both of these issues by combining existing technologies in the creation of Bitcoin. The first issue is resolved because the decentralized nature of the Bitcoin network means that there is no central authority that users need to trust. The second issue is addressed because the unique cryptographic techniques used in Bitcoin make it impossible to copy the currency units.\n", - "title": "Who are the Cypherpunks and what is their goal" - } - } - } -} diff --git a/chapter-302-bitcoin-how-does-it-work/302-combined.json b/chapter-302-bitcoin-how-does-it-work/302-combined.json deleted file mode 100644 index 9c72615..0000000 --- a/chapter-302-bitcoin-how-does-it-work/302-combined.json +++ /dev/null @@ -1,127 +0,0 @@ -{ - "BitcoinHowdoesitwork": { - "title": "Bitcoin: How does it work?", - "questions": { - "peer2Peer": { - "answers": [ - "The blockchain", - "The internet", - "A decentralized network of nodes" - ], - "feedback": [ - "Correct! Satoshi was the first to successfully implement the blockchain - a concept first described in 1991 by Stuart Haber and W. Scott Stornetta. It's a decentralized form of bookkeeping that is resistant to tampering and allows users to make and verify transactions without the need for a central authority", - "No. The internet is a global network of interconnected computers, but it was not invented by Satoshi and does not solve issues of centralization and double spends. Try again", - "A decentralized network of nodes is an important part of Bitcoin, but it does not solve issues of centralization and double spends by itself. Try again!" - ], - "question": "Which technology did Satoshi implement to solve issues of centralization and double spends", - "text": "To solve the earlier mentioned issues of centralization and possible double spends, Satoshi invented a solution based on a decentralized network of nodes.\n\nNodes are computers that are in constant contact with each other. This by itself is nothing new. The internet itself has a similar infrastructure of interconnected nodes.\n\nAll bitcoin nodes, however, store a copy of the ledger of all transactions in the history of the Bitcoin network.\n\nThis new, decentralized form of bookkeeping, called blockchain, was first successfully implemented in Bitcoin and is extremely resistant to tampering.\n", - "title": "Which technology did Satoshi implement to solve issues of centralization and double spends" - }, - "blockchain": { - "answers": [ - "To create a tamper-evident record of all transactions on the blockchain", - "To ensure that blocks can be altered or replaced easily", - "To make sure that the Artificial Intelligence that created Bitcoin has enough computation power to take over the world" - ], - "feedback": [ - "Correct! The cryptographic hash function helps to create a tamper-evident record of all transactions on the blockchain, which can be used to verify the integrity of the data stored on the chain. Did you know that the cryptographic hash function is also an essential part of the proof-of-work mechanism that helps to secure the Bitcoin network", - "That's a hilarious idea, but no, the cryptographic hash function actually ensures the opposite. Try again", - "Ha! I'm not sure who told you that the Bitcoin blockchain was created by AI, but I think they might have been pulling your leg. Try again!" - ], - "question": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain", - "text": "The Bitcoin blockchain is a distributed database that maintains a continuously growing list of Bitcoin transactions called blocks.\n\nBlocks are anchored to each other through the use of cryptographic hashes. Each block contains a cryptographic hash of the previous block, as well as a timestamp and transaction data. This creates a chain of blocks that are all linked together, with each block building on the one before it.\n\nThe cryptographic hash function ensures that once a block has been added to the chain, it cannot be altered or replaced without also changing all of the subsequent blocks in the chain.\n\nThis creates a tamper-evident record of all transactions that have occurred on the blockchain, which can be used to verify the integrity of the data stored on the chain.\n", - "title": "What is the purpose of the cryptographic hash function in the Bitcoin blockchain" - }, - "privateKey": { - "answers": [ - "To sign transactions and prove ownership of Bitcoins", - "To verify the ownership of a Bitcoin address", - "To make a stranger fall in love by posting it on social media" - ], - "feedback": [ - "Correct! The private key is used to sign transactions and prove ownership of Bitcoins. It's an essential part of the process of sending and receiving Bitcoin payments, and it's important to keep it secret and secure. Good job", - "Almost. **** While the private key can be used to verify the ownership of a Bitcoin address, that's not its primary purpose", - "Posting it on social media would be like posting your bank account login information online - it's a surefire way to get your Bitcoins stolen. Better stick to more traditional methods of winning someone's heart!" - ], - "question": "What is the purpose of the private key in a Bitcoin transaction", - "text": "Another cornerstone of Bitcoin is Public Key Cryptography that uses a pair of keys - a public key and a private key - to sign transactions and verify the ownership of Bitcoin addresses.\n\nThe private key is a long string of characters that is used to authorize Bitcoin transactions. It is often represented as a combination of 12 words (sometimes 24). Only in the correct order do the words result in the corresponding private key.\n\nWhoever knows the private key of a bitcoin address can control the bitcoin in that address. Therefore it is important that it is kept secret and never shared with anyone. Ideally, it should be stored offline, so that no unwanted program can access it. \n", - "title": "What is the purpose of the private key in a Bitcoin transaction" - }, - "publicKey": { - "answers": [ - "To generate an unlimited number of Bitcoin addresses from a single key", - "To authorize Bitcoin transactions", - "To verify that the supply of all bitcoin in existence does not exceed 21 million" - ], - "feedback": [ - "Correct! It's worth noting that, while funds can only be moved with the private key, it might be a good idea to not share the master public key on a public forum to preserve financial privacy. Only share Bitcoin addresses with payers to receive payments", - "No, the master public key is not used to authorize Bitcoin transactions. That's the job of the private key. Try again", - "No. While every user can independently verify the monetary supply of in the bitcoin network with a bitcoin node, this is not what the master public key is used for. Try again." - ], - "question": "What is the purpose of a master public key in Bitcoin", - "text": "A master public key in Bitcoin is a key that is cryptographically derived from a Bitcoin private key and is used to generate Bitcoin addresses that payers can send Bitcoin to.\n\nIt can be used to generate an unlimited number of Bitcoin addresses from a single master public key.\n\nWhile the private key is used to authorize Bitcoin transactions and therefore needs to be kept private, the Bitcoin addresses derived from the public key can be shared with a payer to receive payments from them.\n\nMaster public keys consist of a long sequence of numbers and letters and begin with xpub, ypub or zpub.\n\nA Bitcoin address for receiving payments starts with either 1, 3 or bc1.\n", - "title": "What is the purpose of a master public key in Bitcoin" - }, - "mining": { - "answers": [ - "To add transactions to the blockchain and secure the network", - "To make a lot of money", - "To amass giant amounts of computation power for AI to take over the world" - ], - "feedback": [ - "Correct! Miners perform work in the form of computations and compete with other miners for who can add the next block of transactions to the blockchain and earn the block reward", - "That's not the main purpose of mining. **** While it's true that miners do receive a reward in bitcoin for their efforts, they also have to pay for the electricity they use to perform computations. Try again", - "Wow, that's an ambitious goal! While it's true that mining requires a significant amount of computational power, I'm pretty sure the main purpose is not to create an army of AI overlords. Better luck next time!" - ], - "question": "What is the main purpose of mining in the bitcoin network", - "text": "When a user wants to send a transaction in the bitcoin network, they need to sign the transaction with their private key to prove that they are the owner of the funds being transferred. Once the transaction is signed, it is broadcasted to the peer-to-peer network.\n\nMining is the process of adding transactions to the bitcoin blockchain. When a transaction is broadcasted to the network, it is picked up by miners, who verify that the transaction is valid (i.e., the user has the necessary funds and the private key used to sign the transaction corresponds to the public key associated with the funds).\n\nOnce a transaction has been verified, it is added to a block of transactions, along with a mathematical puzzle. Miners compete to solve the puzzle, and the first one to solve it gets to add the block to the blockchain and claim a reward in bitcoin. The reward is currently 6.25 bitcoins, plus any transaction fees that were included in the block.\n\nIn addition to adding transactions to the blockchain, mining also serves to secure the bitcoin network. This is because solving the puzzle requires a significant amount of computational power, and adding a block to the blockchain requires other miners to verify the solution. This makes it very difficult for any one person or group to manipulate the blockchain.\n", - "title": "What is the main purpose of mining in the bitcoin network" - }, - "proofOfWork": { - "answers": [ - "Through proof of work, which involves miners competing to solve a mathematical puzzle", - "By holding a lottery among all those that have bitcoins in a wallet", - "Through a process of majority voting" - ], - "feedback": [ - "Correct! Congrats on understanding how the bitcoin network creates a source of truth that cannot be manipulated by wealthy elites or insiders", - "No, this would be proof of stake, which is a different consensus mechanism that involves choosing the next block producer proportional to their stake (how many coins they hold) in the network. Try again", - "Wrong, but it's an interesting idea. The bitcoin network does not use a process of majority voting to create a source of truth. Try again!" - ], - "question": "How does the Bitcoin network create a source of truth despite having no central authority", - "text": "Decentralized systems, by definition, do not have a single source of truth.\n\nSatoshi's breakthrough was to build a system that allows all participants to zero in on the same truth independently. Proof of work is what allows this to happen. The point of proof of work is to create an irrefutable history. If two histories compete, the one with the most work embedded in it wins.\n\nThe chain with the most work is the truth, by definition. This is called Nakamoto consensus. This works because work requires energy. In Bitcoin, work is computation. Not any kind of computation, but computation that has no shortcut: guessing.\n\n In the absence of a central authority, proof of work is necessary because it ensures that there is no shortcut to adding transactions to the blockchain.\n\n Miners must compete to solve the puzzle through brute force computation, which is probabilistic in nature, and the proof that the work has been done becomes self-evident in the outcome of the work. This makes it very difficult for any one person or group to manipulate the transaction history.\n", - "title": "How does the Bitcoin network create a source of truth despite having no central authority" - }, - "difficultyAdjustment": { - "answers": [ - "It is reduced by half", - "It is doubled", - "It is multiplied by a random number chosen by the bitcoin software" - ], - "feedback": [ - "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", - "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", - "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" - ], - "question": "What happens to the block reward in the bitcoin network every four years", - "text": "A crucial element of the Bitcoin protocol is the Difficulty Adjustment. This algorithm ensures that new blocks are found every 10 minutes on average.\n\nWhen more miners join the network, the average time required to find a new block goes down. In the opposite case, when miners leave the network, it takes longer to add a new block. The Difficulty Adjustment algorithm adjusts the difficulty of the mathematical puzzle to match changes in the combined computing power of all miners. This prevents the creation of more (or less) bitcoin units than the predetermined supply schedule.\n\nThis is in stark contrast to physical mining of precious metals like gold where adding more gold miners leads to a higher supply of gold and therefore a decrease in its price. In Bitcoin however, the addition of new miners only adds more security to the network.\n", - "title": "What happens to the block reward in the bitcoin network every four years" - }, - "halving": { - "answers": [ - "It is reduced by half", - "It is doubled", - "It is multiplied by a random number chosen by the bitcoin software" - ], - "feedback": [ - "That's right! Satoshi determined the reduction of new bitcoin supply by half in the very first release of the Bitcoin software in 2009 and it is practically impossible to change", - "Sorry, but the block reward is not doubled every four years. You must be confusing Bitcoin with the supplies of fiat currencies which are ever expanding at a faster rate. Try again", - "Very creative, but wrong. The Bitcoin supply schedule is anything but random. Its predictability provides certainty for economic actors unlike anything in the history of mankind. Try again!" - ], - "question": "What happens to the block reward in the bitcoin network every four years", - "text": "One final element that is important to understand, is that the block reward in the bitcoin network is reduced by half every four years, or every 210,000 blocks.\n\nThis event, known as the \"halving\", is programmed into the bitcoin software that all users run. When bitcoin was first launched, miners received 50 new bitcoins for each block they added to the blockchain. Currently, the block reward is 6.25 bitcoins, but it will be reduced to 3.125 bitcoins in 2024 when the next halving occurs.\n\nThese halvings will continue to take place until the year 2140, at which point the total number of bitcoins that will have been mined will be capped at 21 million. As of 2023, around 92% of all bitcoins (\\~19.3 million) have already been mined.\n\nUnlike fiat currencies, which can be inflationary, bitcoin is disinflationary in nature. This makes it more scarce than fiat and precious metals such as gold and silver, or anything else known in the universe.\n", - "title": "What happens to the block reward in the bitcoin network every four years" - } - } - } -} diff --git a/chapter-401-lightning-network/401-combined.json b/chapter-401-lightning-network/401-combined.json deleted file mode 100644 index 6749bf3..0000000 --- a/chapter-401-lightning-network/401-combined.json +++ /dev/null @@ -1,127 +0,0 @@ -{ - "LightningWhatdoesitsolve": { - "title": "Lightning: What does it solve?", - "questions": { - "bitcoinDrawbacks": { - "answers": [ - "It takes too long to confirm transactions", - "It is difficult to use", - "It is not a trusted intermediary" - ], - "feedback": [ - "Correct! Great job! You may be pleased to hear that solutions have been deployed to improve the settlement time of Bitcoin payments to a few seconds. ", - "Wrong! But you are forgiven, Bitcoin is actually very easy to use. Try again", - "Wrong! But don't worry, Bitcoin actually allows anyone to send value without a trusted intermediary. Try again!" - ], - "question": "What is a drawback of Bitcoin's design", - "text": "Bitcoin, the world's most widely used and valuable digital currency, allows anyone to send value without a trusted intermediary.\n\nThere are, however, some drawbacks to bitcoin's design which prioritizes security and decentralization at the cost of scalability.\n\nTransactions confirmed on the bitcoin blockchain take up to one hour before they are irreversible.\n\nMicropayments, or payments less than a few cents, are inconsistently confirmed, and fees render such transactions unviable on the network today.\n\nCurrently, Bitcoin's blockchain can process around 3 transactions per second. This is generally seen as an impediment for Bitcoin to become a currency that facilitates the everyday retail transactions of millions around the world.\n", - "title": "What is a drawback of Bitcoin's design" - }, - "blocksizeWars": { - "answers": [ - "Whether or not to increase the blocksize", - "Whether or not to censor certain transactions", - "Whether or not to change the consensus algorithm to proof of stake" - ], - "feedback": [ - "Correct. The users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network, showing that Bitcoin is controlled by users, not corporations", - "Not quite. Both sides were publicly in favor of preserving censorship-resistance, however companies in the Bitcoin ecosystem were willing to accept some centralization in exchange for quick wins in scalability. Try again", - "Haha, but no. While there are some dubious voices that demand the abolishment of proof of work in favor of proof of stake, this was never a debate in Bitcoin, and never will be. Try again." - ], - "question": "What was the contention in the Blocksize Wars", - "text": "These drawbacks lead to a debate within the Bitcoin community about the best way to scale the Bitcoin network, often dubbed the Blocksize Wars.\n\nCompanies in the Bitcoin ecosystem argued that increasing the blocksize, which is the maximum size of a block of transactions on the blockchain, would allow more transactions to be processed per second, making the network more efficient and able to handle a larger volume of transactions.\n\nBitcoin users on the other side of the debate argued that increasing the blocksize would centralize the network, as it would require more expensive and powerful computers to process the larger blocks, and could potentially lead to Bitcoin becoming prone to censorship.\n\nThe users ultimately prevailed in preserving the decentralization and censorship-resistance of the Bitcoin network and demonstrated that Bitcoin is controlled by users, not corporations. This also meant that scaling Bitcoin would require a different enigneering solution than merely increasing the blocksize.\n", - "title": "What was the contention in the Blocksize Wars" - }, - "lightningNetwork": { - "answers": [ - "It allows users to make small, near instant payments at low cost", - "It helps users preserve the decentralization of the Bitcoin network", - "It ensures that every transaction is added to the Bitcoin blockchain" - ], - "feedback": [ - "Correct! The Lightning Network allows users to make small, near instant payments at low cost, and it eliminates the need for every transaction to be added to the Bitcoin blockchain. Congrats! As a fun fact, the Lightning Network has helped increase the adoption of Bitcoin by allowing it to process more transactions per second and handle higher volumes of transactions", - "Incorrect! The Lightning Network is actually a scaling solution built on top of the Bitcoin protocol. Try again", - "Incorrect! The Lightning Network actually eliminates the need for every transaction to be added to the Bitcoin blockchain, as it allows for smaller payments to be made off-chain." - ], - "question": "What does the Lightning Network do", - "text": "While users prevailed and preserved the decentralization of the Bitcoin network, a solution to scale Bitcoin proposed by researchers Tadge Dryja and Joseph Poon, called the Lightning Network, started to gain traction and was launched in 2017.\n\nThe Lightning Network, often referred to as just Lightning or LN, is a scaling solution built on top of the Bitcoin protocol. It facilitates smaller, near instant payments between users at very low cost and eliminates the need for every transaction to be added to the Bitcoin blockchain whilst ensuring that the value being transacted abides by the rules of the Bitcoin network.\n", - "title": "What does the Lightning Network do" - }, - "instantPayments": { - "answers": [ - "A matter of seconds", - "10 minutes", - "1 hour" - ], - "feedback": [ - "Correct! This makes the Lightning Network a great option for situations where you need to make a payment immediately, such as retail transactions or peer-to-peer payments", - "Incorrect! On the Bitcoin network, transactions are grouped into blocks that are added to the blockchain about every 10 minutes. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure. Try again", - "Incorrect! On the Bitcoin network, payments are considered secure after they have been confirmed by six blocks, or about an hour. However, on the Lightning Network, payments do not need to wait for block confirmations to be considered secure." - ], - "question": "How long does it take for a payment to be considered secure on the Lightning Network", - "text": "In the Bitcoin network, transactions are grouped together in blocks, and new blocks are added to the blockchain about every 10 minutes. When a payment is made using Bitcoin, it is considered secure after it has been confirmed by six blocks, or about an hour.\n\nOn the Lightning Network, payments do not have to wait for block confirmations to be considered secure. Instead, they are instant and completed all at once in a matter of few seconds.\n\nThis makes it possible to use the Lightning Network for retail transactions, peer-to-peer payments, or any other situation where you need to make a payment immediately.\n", - "title": "How long does it take for a payment to be considered secure on the Lightning Network" - }, - "micropayments": { - "answers": [ - "A payment for a small amount of money, often less than a dollar", - "A payment that requires a minimum amount and fixed fee", - "A payment made using the Lightning Network" - ], - "feedback": [ - "Exactly! These types of payments can be difficult to make using traditional financial systems or the Bitcoin network, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical", - "Nope**.** While traditional financial systems may require a minimum amount and fixed fee for payments, the Lightning Network allows for the possibility of making very small payments without these limitations", - "Not quite! While the Lightning Network does allow for the possibility of making micropayments, a micropayment is not defined as a payment made using the Lightning Network. Try again!" - ], - "question": "What is a micropayment", - "text": "Micropayments refer to very small financial transactions, often for amounts less than a dollar. These types of payments can be difficult to make using traditional financial systems, as they often have minimum amounts that can be transferred and fixed fees that can make small payments impractical.\n\nThe Lightning Network allows for the possibility of making micropayments using Bitcoin. It enables users to send very small amounts of Bitcoin, down to 1 sat, without the risk of losing control of their funds to a third party (called \"custodial risk\"). \n\nIn contrast, the Bitcoin blockchain currently has minimum transaction amounts and fees that make micropayments impractical. The Lightning Network allows for minimal payments denominated in Bitcoin, using actual Bitcoin transactions. This opens up the possibility of creating new markets and making small payments more practical.\n", - "title": "What is a micropayment" - }, - "scalability": { - "answers": [ - "To meet the demand for retail and automated payments", - "To make Bitcoin more attractive to investors", - "To get the required licences for interoperability with financial institutions" - ], - "feedback": [ - "That's right. The Lightning Network helps the Bitcoin network achieve scalability by allowing users to conduct nearly unlimited transactions off-chain on a second layer", - "That's not it! While improving the attractiveness of Bitcoin to investors could be a benefit of improving scalability, it is not the main reason why scalability is important for the Bitcoin network", - "Try again! **** Obtaining required licenses for interoperability with financial institutions may be a goal for some organizations working with Bitcoin, but it is not directly related to the concept of scalability." - ], - "question": "Why is scalability important for the Bitcoin network", - "text": "Scalability refers to the ability of a system, such as a network or platform, to handle a large amount of usage or traffic without experiencing issues or slowdowns.\n\nScalability is important for Bitcoin because the network will need to be able to support a much higher volume of transactions in order to meet the demand of retail and automated payments.\n\nThe Lightning Network allows users to conduct nearly unlimited transactions between each other outside of the Bitcoin blockchain, or off-chain.\n\nThis means that transactions can be conducted without the need for each one to be recorded on the blockchain, which helps to reduce the load on the network and allows it to handle more transactions.\n", - "title": "Why is scalability important for the Bitcoin network" - }, - "paymentChannels": { - "answers": [ - "By pushing bitcoin from one side of the channel to the other each time a payment is made", - "By broadcasting every transaction immediately to the Bitcoin blockchain as soon as it happens", - "By paying a commission to a 3rd party payment provider" - ], - "feedback": [ - "That's right! Think of moving bitcoin in a Lightning channel like moving beads on an abacus. Each side keeps track of how much is on their side until it's time to settle on the Bitcoin blockchain. Good job", - "Quite the opposite! Payment channels in Lightning avoid broadcasting every transaction by aggregating them. Try again", - "Uhm no, actually payments in Lightning Network save the users fees for not settling every transaction on the blockchain. Try again!" - ], - "question": "How do payment channels in the Lightning Network allow users to pay each other", - "text": "The Lightning Network consists of thousands of two party payment channels.\n\nYou may think of a Lightning channel like opening a tab at your local bar. Instead of pulling out your wallet and paying each time you order a drink, it makes sense to save time, energy and fees by tallying all your drinks together at the end of the night and making the final settlement in one payment.\n\nLightning works similar. Each time a payment is made from person A to person B, bitcoin are pushed from one side of the channel to the other. Two users can pay one another back and forth as many times as they like, almost instantly and with close to no fees.\n", - "title": "How do payment channels in the Lightning Network allow users to pay each other" - }, - "routing": { - "answers": [ - "By using a network of intermediaries to route payments between users", - "By using teleportation to instantly transfer bitcoin from one user to another", - "By using a virtual reality simulation to simulate the transfer of bitcoin between users" - ], - "feedback": [ - "Correct! This is like delivering a package from one person to another by passing it along a series of friendly postmen! Congrats", - "Hah no, this isn't science-fiction from Star Trek, but real world cryptographic engineering! Try again", - "May I interest you for a simulation of a simulation? Jokes aside, this isn't it. Try again!" - ], - "question": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel", - "text": "You may be thinking that setting up a payment channel with hundreds of businesses could be tedious, but no. The beauty of the Lightning Network is that it is a network of channels stitched together.\n\nLet us say Bob convinced his friend Carol to also join the Lightning Network. Alice has a channel with Bob, and Bob has a channel with Carol. Alice and Carol can then pay each other by “routing” through Bob.\n\nSome pretty clever cryptographic tricks guarantee that Bob cannot steal the money while it’s passing through him.\n\nWhen you make a payment on the Lightning Network, your node searches for a path of channels between you and your destination. This is what’s referred to as routing. This is of course all done automatically by the involved Lightning nodes, enabling it to happen in the blink of an eye.\n", - "title": "How does the Lightning Network allow users to pay each other if they are not directly connected through a payment channel" - } - } - } -} diff --git a/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json b/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json deleted file mode 100644 index 08d9879..0000000 --- a/chapter-501-bitcoin-criticisms-fallacies-i/501-combined.json +++ /dev/null @@ -1,97 +0,0 @@ -{ - "BitcoinCriticismsFallaciesI": { - "title": "Bitcoin Criticisms & Fallacies I", - "questions": { - "itsaBubble": { - "answers": [ - "It has consistently gone up", - "It has consistently gone down", - "It has gone up and down randomly" - ], - "feedback": [ - "Well done! You seem to have a good grasp on the overall trend of bitcoin's exchange rate. Despite some fluctuations, it has consistently been on the rise. Keep up the good work", - "I'm sorry, that's not quite right. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been consistently downward. Try again", - "Sorry, that's incorrect. While the exchange rate of bitcoin has certainly had its ups and downs, the overall trend has not been completely random. Keep trying!" - ], - "question": "How has the exchange rate of bitcoin trended over time", - "text": "Over the years, bitcoin has often been called a bubble by various people. While its price has had several significant declines that may have warranted this label, the overall trend for bitcoin has been consistently upward.\n\nCritics who have proclaimed the death of bitcoin after each market cycle have been proven wrong, as the nascent digital money has continued to thrive despite their predictions. As these critics run out of analogies to use, it has become clear that their accusations are unfounded.\n", - "title": "How has the exchange rate of bitcoin trended over time" - }, - "itstooVolatile": { - "answers": [ - "Buyers and sellers reaching agreements in real-time", - "Government intervention", - "The phase of the moon" - ], - "feedback": [ - "You're correct! The primary factor influencing the volatility of bitcoin's price is actually the agreements reached in real-time between buyers and sellers", - "I'm sorry, that's not quite right. While government intervention can certainly affect the price of bitcoin, it is not the primary factor influencing its volatility", - "Sorry, that's incorrect. While the phase of the moon may have some strange effects on certain things, it does not play a significant role in the volatility of bitcoin's exchange rate. Keep trying!" - ], - "question": "What is the primary factor influencing the volatility of bitcoin's exchange rate", - "text": "It is subjective to expect bitcoin to maintain a specific price range, as it is traded around the clock, every day of the year, across the world. There are no requirements for registration, bank holidays, circuit breakers, or bailouts in the bitcoin market, which operates as a truly free market.\n\nAny and all volatility in bitcoin's price is the result of buyers and sellers reaching agreements in real-time without interference from governments. As bitcoin continues its journey towards becoming a primary global store of value in the Information Age, it is unrealistic to assume that its progress would be linear.\n\nAs adoption of bitcoin increases, it becomes less risky and potential upside decreases, leading to a decrease in volatility.\n", - "title": "What is the primary factor influencing the volatility of bitcoin's exchange rate" - }, - "itsnotBacked": { - "answers": [ - "The credibility of its monetary properties", - "Rarity", - "The color purple" - ], - "feedback": [ - "Spot on! According to Parker Lewis, the only thing that backs any money is the credibility of its monetary properties", - "That's not quite right. While rarity can certainly contribute to the value of money, it is not the only thing that backs it. Try again", - "That's incorrect. While the color purple may be a beautiful and regal choice for a currency, it does not actually play a role in backing money." - ], - "question": "What is the only thing that backs any money, according to Parker Lewis", - "text": "The idea of backed money is contradictory, as the backing itself would then be considered money. Part of the value of money comes from its rarity. Bitcoin does not need to be backed by something else that is rare because it is inherently scarce.\n\nVerifiable and auditable through independent means, bitcoin is free of counterparty risk. There is no third party that must be trusted to keep and secure commodities or assets. If anything, it is possible that the future will be backed by bitcoin.\n\nAs Parker Lewis stated, \"Ultimately, bitcoin is backed by something, and it's the only thing that backs any money: the credibility of its monetary properties.\"\n", - "title": "What is the only thing that backs any money, according to Parker Lewis" - }, - "willbecomeObsolete": { - "answers": [ - "No, it is not possible for bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", - "Yes, it is possible that bitcoin could become obsolete if a more secure or widely used digital monetary network is developed.", - "that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that" - ], - "feedback": [ - "bitcoin to become obsolete because it represents absolute scarcity and has a dominant position in the market.", - "Well, you're not wrong about that, but let's be real here - who's going to invent a digital currency that's more scarce than absolute scarcity? That's like trying to invent a circle that's rounder than round. Good luck with that", - "Uh oh, looks like you're playing it safe but not quite hitting the mark. While it's true that no one can predict the future, it's pretty clear that bitcoin has a solid grip on the digital monetary network game. Try again." - ], - "question": "Is it possible that bitcoin becomes obsolete one day", - "text": "Bitcoin represents a unique discovery of absolute scarcity, similar to the discovery of fire, electricity, or the field of mathematics.\n\nIt is not logical or possible to compete with bitcoin in terms of scarcity, as there is no level of scarcity higher than absolute scarcity. Criticisms of bitcoin's perceived limitations or drawbacks assume that there are no trade-offs in terms of security and incentive design, or that bitcoin's current form does not already provide significant benefits to millions of users.\n\nAs a rapidly growing, unrestricted network with a 99.98% uptime over more than a decade, having processed trillions of dollars in value and secured by billions of dollars in hardware, it is unlikely that bitcoin will be displaced as the dominant digital monetary network at this point.\n\nAs Michael Saylor stated, \"There's never been an example of a $100B monster digital network that was vanquished once it got to that dominant position.\"\n", - "title": "Is it possible that bitcoin becomes obsolete one day" - }, - "toomuchEnergy": { - "answers": [ - "It helps to even out the distribution of energy consumption around the world.", - "It increases the distribution of energy consumption around the world.", - "It decreases the distribution of energy consumption around the world." - ], - "feedback": [ - "You got it right. Did you know that bitcoin's fixed energy price helps to incentivize the use of renewable energy sources in areas where they may not have been economically viable before", - "Well, I see you're a fan of chaos and global energy inequality, but this answer is wrong", - "Looks like you're trying to save the world one energy imbalance at a time. This answer is clearly incorrect." - ], - "question": "How does bitcoin impact global energy consumption", - "text": "Bitcoin is a decentralized digital currency that is accessible to users around the world and is resistant to censorship due to its Proof of Work mechanism.\n\nWith an estimated four billion people currently living under authoritarianism, bitcoin provides a way for individuals to send, receive, save, and transport wealth. It is important to consider the amount of energy that a monetary network like this should consume and to carefully evaluate who is best equipped to make decisions about this.\n\nOne way to think about the impact of bitcoin on global energy consumption is to imagine a topographic map of the world, with local electricity costs represented by the peaks and troughs. Adding bitcoin to the mix is like pouring a glass of water over the map - it settles in the troughs, smoothing them out. This is because bitcoin is a global buyer of energy at a fixed price, which helps to even out the distribution of energy consumption around the world.\n", - "title": "How does bitcoin impact global energy consumption" - }, - "strandedEnergy": { - "answers": [ - "By using it to power onsite equipment that generates hashes to produce bitcoin", - "By selling it on the bitcoin market", - "By creating a new form of renewable energy" - ], - "feedback": [ - "Congratulations! You've correctly identified the use of excess energy in bitcoin mining. Did you know that this process can be done in any location, even in areas where there is no local demand for the energy being generated", - "I see you're a fan of making money through unconventional means. Too bad that's not what this lesson is about. Try again", - "It looks like you're trying to save the world one renewable energy source at a time. While that's admirable, unfortunately that's not the right answer." - ], - "question": "How can excess energy be used through bitcoin mining", - "text": "Exactly**.** Bitcoin mining provides a portable solution for utilizing energy assets in regions where there is no local demand or means of transportation. By using onsite equipment to generate hashes, it is possible to produce bitcoin, which can then be held for future value appreciation or sold on the highly liquid and globally accessible bitcoin market.\n", - "title": "How can excess energy be used through bitcoin mining" - } - } - } -} diff --git a/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json b/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json deleted file mode 100644 index 5cfcc35..0000000 --- a/chapter-502-bitcoin-criticisms-fallacies-ii/502-combined.json +++ /dev/null @@ -1,97 +0,0 @@ -{ - "BitcoinCriticismsFallaciesII": { - "title": "Bitcoin Criticisms & Fallacies II", - "questions": { - "internetDependent": { - "answers": [ - "By sending a transaction via SMS", - "By posting a message on a social media platform", - "By sending an email" - ], - "feedback": [ - "You've identified a way to send bitcoin transactions even when the internet is down. Good thinking", - "Well, it looks like you're trying to stay connected in the digital age even during an internet outage, but that's incorrect", - "I see you're trying to stay connected through traditional means, but unfortunately sending an email might not be the most reliable way to send bitcoin transactions during an internet outage. Try again!" - ], - "question": "How can bitcoin transactions be sent in the event of an internet disruption", - "text": "There is a risk, of course, that internet access may be lost due to infrastructure failures, natural disasters, or intentional outages. However, it is possible to transact bitcoin using offline methods and other communication networks.\n\nFor instance, a signed bitcoin transaction can be transmitted to a single node and broadcast to the network for inclusion in a block by miners. There are various ways to do this, such as sending a transaction via SMS, using a physical wallet with a one-time use tamper-evident private key, or receiving blocks via satellite. These options allow for bitcoin to be used even in the event of an internet disruption.\n", - "title": "How can bitcoin transactions be sent in the event of an internet disruption" - }, - "forcrimeOnly": { - "answers": [ - "No", - "Yes", - "It depends on the individual circumstances" - ], - "feedback": [ - "Well done! You've correctly identified that it is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.", - "I see you're a fan of sensational headlines and jumping to conclusions. Unfortunately, that's not based in reality", - "It looks like you're trying to take a balanced approach, but is not accurate to make this claim regardless of individual circumstances. Try again." - ], - "question": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity", - "text": "Bitcoin is a neutral tool for exchanging value, and it has no inherent beliefs, opinions, or values. Its meaning is determined by how it is used. It is not accurate to claim that bitcoin's properties have led to an overall increase in criminal activity.\n\nCrime does not stem from access to tools, but rather from individual circumstances. If bitcoin is useful, it can be used by anyone, including criminals. If it is not useful, it cannot be used by anyone, including criminals.\n\nAs Parker Lewis stated, \"There is nothing inherent about the tools used to facilitate crimes that makes them criminal in themselves. Despite criminal use, no one is calling for the ban of roads, the internet, mail, etc.\"\n", - "title": "Is it accurate to claim that bitcoin's properties have led to an overall increase in criminal activity" - }, - "ponziScheme": { - "answers": [ - "It is a form of money", - "It is a ponzi scheme", - "It is an open-source investment scheme" - ], - "feedback": [ - "Congratulations! You've earned some sats for correctly identifying that bitcoin is a form of money. Did you know that bitcoin was the first decentralized digital currency to be created, and it operates without a central bank or single administrator", - "Ah hah! You fell for the old ponzi scheme trick! Just kidding, but seriously, that's not what bitcoin is", - "Nope, sorry! Bitcoin isn't an open-source investment scheme. But hey, at least you're learning about it, right?" - ], - "question": "Which of the following statements is true about bitcoin", - "text": "Calling bitcoin a ponzi scheme shows a lack of understanding of both bitcoin and the definition of a ponzi scheme. A ponzi scheme involves promises of above-market returns to investors, but as a permissionless network, bitcoin does not have a central authority that can make such promises.\n\nAdditionally, bitcoin is not an investment scheme, it is a form of money. Unlike opaque investment opportunities that may be promoted to unsuspecting individuals, bitcoin's code is open-source and its supply can be independently verified at all times.\n", - "title": "Which of the following statements is true about bitcoin" - }, - "bitcoinisTooSlow": { - "answers": [ - "Credit card payments go through multiple parties before reaching the merchant, while bitcoin payments go directly to the recipient without intermediaries", - "Credit card payments are final once they are confirmed, while bitcoin payments can be reversed", - "but at least you're learning about bitcoin" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin payment mastery. You seem to understand that bitcoin operates without a central bank or single administrator", - "Uh oh, looks like you might have gotten the wrong answer, but at least you're learning about bitcoin", - "Nope, sorry! Credit card payments are being censored all the time, but good try. Keep learning about bitcoin!" - ], - "question": "What is the main difference between paying with a credit card and paying with bitcoin on-chain", - "text": "Paying with bitcoin is not the same as using a credit card to make a purchase. When you use a credit card, your payment goes through multiple parties before reaching the merchant's bank account after days or even weeks of processing.\n\nIn contrast, when you pay with bitcoin on the main blockchain, you are sending actual money directly to the recipient without any intermediaries. This means there is no risk of censorship and the transaction is considered final once it has been confirmed by six blocks on the blockchain.\n\nThe proper comparison would be between bitcoin base layer and the Fed as currency issuer and as a clearing mechanism.\n\nSince the advent of the Lightning Network, the \"Bitcoin is too slow\" criticism has largely fallen silent.\n", - "title": "What is the main difference between paying with a credit card and paying with bitcoin on-chain" - }, - "supplyLimit": { - "answers": [ - "Through a decentralized consensus process in which every transaction is independently validated by nodes on the network", - "Through a centralized process in which a single authority controls the issuance of new coins", - "By fixing the maximum supply at an arbitrary number, such as 100 million" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin supply mastery. Did you know that the decentralized nature of the bitcoin network allows for greater transparency, as every transaction is independently validated by nodes on the network", - "Nope, sorry! Bitcoin's supply isn't controlled by a central authority. Try again", - "Uh oh, looks like you might have gotten the wrong answer. The maximum supply of bitcoin is fixed at 21 million, not 100 million. But at least you're learning about bitcoin!" - ], - "question": "How is the supply of bitcoin protected from being corrupted", - "text": "Bitcoin's decentralized nature allows for its supply to be independently validated by each node on the network, ensuring that it cannot be corrupted. This is achieved through a consensus process in which every transaction that has been confirmed on the bitcoin network is independently validated.\n\nWhile anyone can fork the code and make changes to the rules, it is unlikely that this version of the code would be adopted by the wider network. The decentralized consensus process and the incorruptible supply of bitcoin are crucial to its appeal as a form of money.\n\nThe maximum supply of bitcoin is fixed at 21 million, and any attempt to increase this limit would require consensus from a significant portion of the bitcoin network, which is highly unlikely to happen.\n", - "title": "How is the supply of bitcoin protected from being corrupted" - }, - "governmentBan": { - "answers": [ - "No, because the decentralized nature of the bitcoin network makes it difficult to enforce a ban", - "Yes, by preventing the generation of random numbers", - "Yes, by shutting down the internet" - ], - "feedback": [ - "Correct. The decentralized nature of the bitcoin network makes it difficult to enforce a ban", - "Nope, silly! While it is technically possible for governments to ban bitcoin, it would be nearly impossible to enforce such a ban. Try again", - "Uh oh, looks like you might have gotten the wrong answer. Shutting down the internet wouldn't necessarily stop people from using bitcoin." - ], - "question": "Can governments effectively ban bitcoin", - "text": "It is technically possible for governments to ban bitcoin, but enforcing such a ban would be difficult due to the decentralized nature of the bitcoin network.\n\nBitcoin relies on private keys, which are simply random numbers, to control access to transactions recorded on the blockchain. These private keys can be generated and stored anywhere, making them largely undectectable.\n\nAdditionally, the infrastructure required to access the bitcoin network is relatively simple and widely available, making it easy for people to trustlessly verify transactions.\n\nAs Saifedean Ammous said, \"Banning bitcoin is not much different from trying to ban math. It will just prove its utility & drive more people to it.\"\n", - "title": "Can governments effectively ban bitcoin" - } - } - } -} diff --git a/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json b/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json deleted file mode 100644 index 3157c0e..0000000 --- a/chapter-503-bitcoin-criticisms-fallacies-iii/503-combined.json +++ /dev/null @@ -1,97 +0,0 @@ -{ - "BitcoinCriticismsFallaciesIII": { - "title": "Bitcoin Criticisms & Fallacies III", - "questions": { - "concentratedOwnership": { - "answers": [ - "Yes, but these wallets belong to exchanges that have millions of customers", - "Yes, and these wallets belong to individuals who have hoarded large amounts of bitcoin", - "No, the vast majority of bitcoin is evenly distributed among a large number of users" - ], - "feedback": [ - "Congratulations! You've unlocked the ultimate bitcoin wallet mastery. Did you know that it is generally considered best practice to keep bitcoin in a self-hosted wallet for security and privacy reasons", - "Nope, sorry! While it is technically true that a small number of wallets hold the majority of all bitcoin, these wallets don't necessarily belong to individuals who have hoarded large amounts of bitcoin. Keep learning about bitcoin", - "Uh oh, looks like you might have gotten the wrong answer. The distribution of bitcoin among users is not necessarily even. But at least you're learning about bitcoin!" - ], - "question": "Is it true that a small number of wallets hold the majority of all bitcoin", - "text": "It is often said that a small number of wallets hold the majority of all bitcoin. While this is technically true, it is important to note that these wallets are typically owned by exchanges that have millions of customers.\n\nMany people choose to leave their bitcoin on an exchange, but it is generally considered best practice to keep bitcoin in a personal wallet for security and privacy reasons.\n\nIt is also worth noting that a single bitcoin address can contain bitcoin belonging to multiple users, and a single user can control multiple wallets. To maintain privacy, it is recommended to generate a new address for each receiving transaction instead of reusing the same address.\n", - "title": "Is it true that a small number of wallets hold the majority of all bitcoin" - }, - "centralizedMining": { - "answers": [ - "No, because they have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain", - "Yes, because they have a majority of the hashing power", - "Yes, but only if they are acting in their own self-interest" - ], - "feedback": [ - "Yep, that's right. Did you know that the decentralized nature of the bitcoin network ensures that no single entity, including mining pools, can disrupt the network or censor transactions", - "Nope, sorry! While mining pools do have a significant amount of hashing power, individual miners are extremely mobile and can trivially direct their hashrate to an honest mining pool", - "Incorrect. While it is true that mining pools have an incentive to act in their own self-interest, this does not mean that they can disrupt the bitcoin network or censor transactions." - ], - "question": "Can mining pools disrupt the bitcoin network or censor transactions", - "text": "Some people believe that mining pools, which are groups of miners that work together to increase their chances of finding a block, could potentially disrupt the bitcoin network or censor transactions.\n\nHowever, this concern stems from a lack of understanding of the incentives of miners and their role in the network. In reality, miners have a strong incentive to follow the rules of the network and maintain the integrity of the blockchain, as their own profits depend on it.\n\nAs Jimmy Song said, \"A majority of hashing power can't: take coins you already possess away, change the rules of bitcoin, or hurt you without hurting themselves.\"\n", - "title": "Can mining pools disrupt the bitcoin network or censor transactions" - }, - "tooExpensive": { - "answers": [ - "By comparing the entire market capitalization of bitcoin to that of other asset classes", - "By comparing the unit price of one bitcoin to the unit price of another asset, such as gold", - "By consulting a crystal ball and going with your gut feeling" - ], - "feedback": [ - "Congratulations, you're on the right track! It's important to consider the entire market cap of bitcoin when comparing it to other assets. Did you know that the total market cap of bitcoin reached over $1 trillion in 2021", - "Uh oh, it looks like you might have fallen for the unit bias trap! Better luck next time", - "Sorry, consulting a crystal ball might work for predicting the weather, but it's not a reliable way to assess the value of bitcoin. Better luck next time!" - ], - "question": "How can you accurately compare the value of bitcoin to other assets", - "text": "One common misconception about bitcoin is that it is too expensive to purchase.\n\nHowever, this belief is based on unit bias, as it is more accurate to compare the entire market capitalization of bitcoin to other assets rather than just the unit price of a single bitcoin.\n\nIt's also worth noting that a single bitcoin can be divided into 100 million smaller units called satoshis. As the saying goes, \"you can buy a fraction of a bitcoin!\"\n", - "title": "How can you accurately compare the value of bitcoin to other assets" - }, - "prohibitivelyHigh": { - "answers": [ - "The efficiency and reliability of the bitcoin network as a settlement layer", - "The use of secondary layers such as lightning, liquid, or federated side-chains for smaller transactions", - "The fact that bitcoin is still a relatively new technology and has not yet reached its full potential" - ], - "feedback": [ - "Congratulations, you've hit the nail on the head! The efficiency and reliability of the bitcoin network certainly play a role in keeping transaction fees low. Did you know that the bitcoin network can process up to 7 transactions per second, making it faster than some traditional payment systems", - "Nice try, but it looks like you're missing a key piece of information. Try again", - "Sorry, but being a newer technology does not necessarily equate to lower transaction fees. Better luck next time!" - ], - "question": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems", - "text": "Another misconception about bitcoin is that its transaction costs are prohibitively high.\n\nHowever, confirmed transactions on the main layer of bitcoin provide a level of finality that is unmatched in the traditional financial system. While it is true that transaction fees may occasionally spike due to the limited capacity of each block, the bitcoin network remains an efficient and reliable settlement layer for high-value transactions.\n\nIn fact, according to Saifedean Ammous, \"between October 2010 and July 2021, the average daily transaction fees came up to around 0.02% of the value of the transactions.\"\n\nIn addition, smaller transactions, including microtransactions, are often migrated to secondary layers such as lightning, liquid, or federated side-chains where fees are significantly lower than those offered by retail banks.\n", - "title": "What is the main reason that transaction fees on the main layer of bitcoin remain relatively low compared to traditional financial systems" - }, - "willBeHoarded": { - "answers": [ - "No, holding bitcoin is a way to hedge against future uncertainty and does not necessarily mean it is not being used", - "Yes, holding bitcoin is the same thing as hoarding bitcoin", - "It depends on the individual's intentions and financial goals" - ], - "feedback": [ - "Congratulations, you're on the right track! As Pierre Rochard pointed out, 'all bitcoin are always held by someone, payments only change who is holding it.' Well done", - "Uh oh, it looks like you might have fallen for the hoarding misconception! Holding bitcoin is a common way to hedge against future uncertainty and does not necessarily mean it is not being used", - "Sorry, but the distinction between holding and hoarding bitcoin is not dependent on an individual's intentions and financial goals. Better luck next time!" - ], - "question": "Is holding bitcoin the same thing as hoarding bitcoin", - "text": "There is a common belief that the fixed supply of bitcoin incentivizes hoarding, or the act of holding onto bitcoin rather than spending it in the economy.\n\nHowever, this logic has a few flaws. First, saving, or the act of setting aside income for future use, is often conflated with hoarding. In fact, saving is a necessary precursor to significant investment and can be seen as a responsible financial practice.\n\nSecond, holding onto bitcoin, or any form of money, is a common way to hedge against future uncertainty and does not necessarily mean that it is not being used.\n\nAs Pierre Rochard pointed out, \"all bitcoin are always held by someone, payments only change who is holding it.\" In other words, the act of holding bitcoin is itself a use of bitcoin.\n", - "title": "Is holding bitcoin the same thing as hoarding bitcoin" - }, - "canBeDuplicated": { - "answers": [ - "The code is heavily scrutinized and rigorously developed, ensuring its security and transparency", - "The fact that it is open source allows for a meritocracy and encourages the \"hive mind\" to build solutions", - "It is backed by a large and influential group of investors" - ], - "feedback": [ - "That's exactly right! The code of bitcoin is indeed heavily scrutinized and rigorously developed, which adds to its value. In fact, @BTCSchellingPt noted that Bitcoin Core is probably one of the most heavily scrutinized code bases in the world", - "Nice try, but the value of bitcoin lies not only in its code but also in the community and infrastructure surrounding it. Better luck next time", - "Sorry, the value of bitcoin is not solely determined by the backing of a group of investors. Better luck next time!" - ], - "question": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone", - "text": "One argument against the value of bitcoin is that it is not scarce because there are thousands of other cryptocurrencies available and because anyone can copy the code and create their own version.\n\nHowever, this overlooks the fact that bitcoin is more than just a piece of code. It is an open source protocol for transferring value that attracts people and resources due to its transparency and rigorous development process.\n\nAs @BTCSchellingPt noted, \"open source is very much a meritocracy. You've got the hive mind building solutions. You get all that scrutiny and that comes back to security. Bitcoin Core is probably one of the most heavily scrutinized code bases in the world.\"\n\nIn other words, the value of bitcoin lies not only in its code, but also in the community and infrastructure that surrounds it.\n", - "title": "What is the main reason that bitcoin is considered valuable despite the fact that its code can be copied by anyone" - } - } - } -} diff --git a/chapter-601-bitcoin-and-economics-i/601-combined.json b/chapter-601-bitcoin-and-economics-i/601-combined.json deleted file mode 100644 index f6621ed..0000000 --- a/chapter-601-bitcoin-and-economics-i/601-combined.json +++ /dev/null @@ -1,97 +0,0 @@ -{ - "BitcoinandEconomicsI": { - "title": "Bitcoin and Economics I", - "questions": { - "scarcity": { - "answers": [ - "A resource that is limited in quantity or availability and can lead to competition for possession", - "A resource that is abundant and easy to come by", - "A resource that can only be obtained through time travel" - ], - "feedback": [ - "Remark:** Correct! Good job, you understood the concept of scarcity. Scarcity can lead to competition and can affect the value of goods and services in a free market", - "Wrong! Sorry to burst your bubble, but if something is easy to come by, it can't be scarce", - "Wrong! Time travel is a great idea for a sci-fi movie, but it doesn't have anything to do with scarce resources." - ], - "question": "What is a scarce resource", - "text": "When there are not enough resources to go around, people and organizations compete for them.\n\nThis competition is often reflected in the price of goods and services in a free market. If the demand for a particular resource increases faster than the supply, it can become scarce and more valuable.\n\nMoney is often used as a way to buy things because it is easy to trade and is valuable because it is scarce. Bitcoin is a digital form of money that has a fixed supply, which makes it rare and valuable.\n\nThe idea that there is never enough of something to go around is a basic principle of economics, but it is often ignored in political decisions.\n", - "title": "What is a scarce resource" - }, - "monetaryPremium": { - "answers": [ - "The difference in value between something's use as money and its value for its other uses", - "An extra fee added to the price of goods and services", - "A monetary premium has nothing to do with paying extra for things" - ], - "feedback": [ - "Congratulations! You know your stuff when it comes to monetary premiums. A monetary premium is the additional value that something can have when it is used as a substitute for money. Good job", - "Sorry, wrong answer! A monetary premium has nothing to do with paying extra for things", - "Nope! A monetary premium is not a discount, it's actually the opposite." - ], - "question": "What is a monetary premium", - "text": "If the value of money is not based on its scarcity, it may not be as reliable as a way to store wealth. In this case, other things that are scarce, such as assets or resources, may become more valuable and be used as a substitute for money.\n\nThis additional value is known as a monetary premium. When the usual form of money is not working well, people may turn to other things that are rare or hard to obtain as a way to exchange value.\n\nSome historical forms of money had no other use or value besides being used as a way to trade for other things. The difference between the value of something as money and its value for its other uses is the monetary premium.\n", - "title": "What is a monetary premium" - }, - "greshamsLaw": { - "answers": [ - "A law that explains how people tend to use different types of currency in different ways when they are in circulation together", - "A law that says people will always choose to spend the more valuable currency when given a choice", - "Gresham's Law actually explains the opposite behavior" - ], - "feedback": [ - "Good job, you understood Gresham's Law. This law explains how people tend to save the more valuable currency and spend the less valuable one when given the choice. Interesting fact: Gresham's Law can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver", - "Sorry, wrong answer! Gresham's Law actually explains the opposite behavior", - "Ha! That's a funny answer, but unfortunately it's not correct." - ], - "question": "What is Gresham's Law", - "text": "Gresham's Law is a concept that explains how people tend to use different types of currency in different ways when they are in circulation together.\n\nIf two forms of currency are given equal value by a government or other authority, but one is made of a more valuable material, people will be more likely to save the more valuable currency and spend the less valuable one.\n\nThis can happen when a government debases its currency, or makes it worth less, by decreasing the amount of valuable material it contains. The result is that people lose trust in the debased currency and prefer to hold onto the more valuable one instead.\n\nThis principle can also apply to \"fiat\" currency, which is not backed by a physical commodity like gold or silver, if the supply of the currency is increased in a way that makes it worth less.\n\nIn recent years, the emergence of bitcoin as a digital currency has led to a trend of people saving in bitcoin and spending their traditional currency, or \"fiat,\" more quickly. This is because bitcoin is seen as having a higher long-term value and being more stable than fiat currencies.\n", - "title": "What is Gresham's Law" - }, - "thiersLaw": { - "answers": [ - "A law that discusses what might happen if people and businesses refuse to accept or use a lower quality form of currency", - "A law that says people will always choose the more valuable currency when given a choice", - "A law that says people will always choose the less valuable currency when given a choice" - ], - "feedback": [ - "Correct! Good job, you understood Thier's Law. This law discusses what might happen if people and businesses refuse to accept a lower quality form of currency. Interesting fact: Thier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored", - "Wrong answer! Gresham's Law explains this behavior, not Thier's Law", - "Sorry, try again! Thier's Law is not about always choosing the less valuable currency." - ], - "question": "What is Thier's Law", - "text": "Thier's Law is a concept that discusses what might happen if people and businesses refused to accept or use a lower quality form of currency.\n\nInstead of disappearing from circulation, the higher quality form of money might be traded at a premium, or for a higher value than its face value.\n\nThier's Law suggests that if a government tries to force people to use a lower quality currency by making it legal tender, it will be ignored.\n\nIn other words, people and businesses may choose not to accept the lower quality currency and instead prefer to use the higher quality one or other forms of payment.\n", - "title": "What is Thier's Law" - }, - "cantillonEffect": { - "answers": [ - "A phenomenon that occurs when new money is introduced into an economy, causing some prices to increase more than others and leading to an uneven distribution of wealth.", - "A mysterious force that causes people to turn into cantaloupes whenever they eat too much fruit.", - "A dance move that involves spinning around in circles while holding a bunch of cantaloupes." - ], - "feedback": [ - "Congratulations, you are correct! The Cantillon Effect is indeed a process that can influence the distribution of wealth in an economy. Good job", - "Sorry, but the Cantillon Effect doesn't have anything to do with fruit transformation. Better luck next time", - "Sorry, but the Cantillon Effect is not a dance move, no matter how much you love cantaloupes. Better luck next time!" - ], - "question": "What is the Cantillon Effect", - "text": "The Cantillon Effect is a phenomenon that occurs when new money is introduced into an economy.\n\nWhen new money is added, it tends to go to certain people or businesses first, and these initial recipients have an advantage over others because they get to use the new money before prices go up.\n\nThis causes the prices of some goods and services to increase more than others, which means that the people who get the new money first benefit while those who get it later are disadvantaged.\n\nThis effect was first described by economist Richard Cantillon in the context of commodity money, such as gold and silver, but it is even more relevant today in the age of fiat money.\n\nWhen a government or central bank creates a lot of new fiat money, it can lead to increased prices and uneven distribution of wealth, as some people and businesses are able to access credit more easily and benefit from rising asset prices.\n", - "title": "What is the Cantillon Effect" - }, - "schellingPoint": { - "answers": [ - "A solution that people tend to choose by default in the absence of communication", - "A type of point system used in online multiplayer games", - "A point on the earth's surface where all the planet's magnetic forces are balanced" - ], - "feedback": [ - "You got it right. Did you know that a Schelling point can occur in multiplayer cooperative games and communication networks, and can be facilitated by standardized protocols like money", - "Wrong! But at least you're thinking about points. Maybe try again and focus on communication this time", - "Ha! You're off by a whole planet. Maybe try again and focus on the concept of default choices in the absence of communication." - ], - "question": "What is a Schelling point", - "text": "A Schelling point is a solution that people tend to choose by default, without communicating with each other.\n\nThis can happen in multiplayer cooperative games, where you have to anticipate the choices of others. If you make the wrong choice, you might face consequences or miss out on benefits.\n\nCommunication works the same way - it's like a multiplayer cooperative game played with others in the same network. We use standardized protocols (like email, spoken language, or money) to communicate efficiently with as many people as possible, with as little friction as possible. This can lead to increased trade, knowledge exchange, and innovation.\n\nIn the digital world, people tend to choose the same option (the Schelling point) when exchanging value. This is because they expect that others will also choose it.\n\nThe option that becomes the Schelling point is the one that communicates price signals most accurately, allowing market participants to coordinate with each other.\n\nBitcoin is a protocol for exchanging value that has several advantages over traditional currencies (called \"fiat\"). For example, it has a fixed supply and its value has generally increased over time, while fiat currencies often lose value. Additionally, the bitcoin network is permissionless, global, and indestructible. All of these factors make bitcoin a natural Schelling point for money.\n", - "title": "What is a Schelling point" - } - } - } -} diff --git a/chapter-602-bitcoin-and-economics-ii/602-combined.json b/chapter-602-bitcoin-and-economics-ii/602-combined.json deleted file mode 100644 index 1c3c028..0000000 --- a/chapter-602-bitcoin-and-economics-ii/602-combined.json +++ /dev/null @@ -1,97 +0,0 @@ -{ - "BitcoinandEconomicsII": { - "title": "Bitcoin and Economics II", - "questions": { - "opportunityCost": { - "answers": [ - "The cost of not being able to do something else when you choose to do one thing", - "A type of cost that only applies to business owners", - "The cost of buying a new car" - ], - "feedback": [ - "Congratulations! You got it right. Did you know that opportunity cost can help you make better financial decisions by considering the trade-offs involved in different options", - "Wrong! Opportunity cost applies to anyone who makes a choice, not just business owners. Maybe try again and think about the trade-offs involved in decision-making", - "Ha! That's not quite right. The cost of buying a new car is a specific type of expense, not the same thing as opportunity cost. Maybe try again and think about the concept of trade-offs in decision-making." - ], - "question": "What is opportunity cost", - "text": "Opportunity cost is the idea that when you choose to do one thing, you can't do something else instead. In other words, every time you make a financial decision, you have to trade off one option for another.\n\nBitcoin can help you make better financial decisions in the long term because it's a good way to store value (like saving money). This means that if you choose to invest in bitcoin, you might have to give up using that money for other things or opportunities. But if you hold onto your bitcoin, it has the potential to increase in value over time.\n\nThis is especially important right now because the traditional monetary system (called \"fiat\") is not a reliable way to save money - it's designed in a way that causes the value of money to go down over time. So, it's important to make careful financial decisions to preserve your wealth.\n", - "title": "What is opportunity cost" - }, - "timePreference": { - "answers": [ - "The amount of value you place on the present versus the future", - "A preference for doing things at a specific time of day", - "A preference for traveling through time" - ], - "feedback": [ - "Congratulations! You got it right. Did you know that there are many factors that can influence your time preference, such as personal safety, tax rates, property rights, and the ability to store value reliably", - "Wrong! Time preference has to do with decision-making, not a specific time of day. Maybe try again and think about how the time horizon you're operating on can affect your choices", - "Ha! Time travel is still just science fiction, sorry. Maybe try again and think about how the time horizon you're operating on can affect your choices." - ], - "question": "What is time preference", - "text": "Time preference is the idea that the amount of time you have to wait for something to happen can affect the decisions you make.\n\nFor example, if you value the present more than the future, you might be more likely to choose something that gives you immediate gratification.\n\nOn the other hand, if you value the future more, you might be willing to wait longer for something that has a bigger benefit in the long term.\n\nThere are many factors that can influence your time preference, such as your personal safety, tax rates, property rights, and the ability to store value reliably.\n\nThe \"hardness\" of money (how well it holds its value over time) is also important because it can encourage people to save, plan, and invest for the future. It's important to note that time preference is not a fixed thing - it can change based on the incentives in your environment.\n", - "title": "What is time preference" - }, - "impossibleTrinity": { - "answers": [ - "As perfectly mobile capital, Bitcoin alters the logic of sovereign nations to direct international monetary policy by making capital controls impossible to enforce.", - "Due to its fixed supply, the existence of Bitcoin makes it easier for sovereign nations to set fixed exchange rates.", - "Governments will restrict discussion of the Mundell-Fleming Trilemma because speech is easier to censor than cross-border payments." - ], - "feedback": [ - "enforce.", - "The 21 million cap is indeed quite fascinating, but the existence of Bitcoin actually makes it more difficult for nations to set fixed exchange rates. Try again", - "While that's entirely possible of course, that's not the most likeliest outcome here. Try again!" - ], - "question": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?", - "text": "The Impossible Trinity, also known as the Mundell-Fleming Trilemma, is a concept that explains the trade-offs involved in setting international monetary policy for a sovereign nation.\n\nIt says that a country can only choose two of the following three options: fixed exchange rates, free capital flows, and independent monetary policy.\n\n These three options cannot be pursued at the same time. This is because a country's capital flows, or the movement of money in and out of the country, can be influenced by the value of its currency and its monetary policy, which sets the rules for how much money is in circulation.\n\n As capital becomes more mobile and can move freely across borders, it is harder for a country to control and direct its capital flows. The rise of bitcoin, a digital currency that is borderless and immune to changes in value, may further challenge a country's ability to set monetary policy.\n", - "title": "How does the existence of Bitcoin affect the Mundell-Fleming-Trilemma?" - }, - "jevonsParadox": { - "answers": [ - "The phenomenon of increased consumption of a resource due to increased efficiency", - "A type of fruit named after an economist", - "A paradox that states that the more we have of something, the less we want it" - ], - "feedback": [ - "Correct! Well done, you have a firm understanding of the Jevons Paradox. Fun fact: The phenomenon is named after William Stanley Jevons, an English economist who first described it in the 19th century", - "Wrong! Sorry, there is no such thing as a Jevons fruit. You'll have to find your sustenance elsewhere", - "Sorry, that's not quite right. The Jevons Paradox actually states that increased efficiency can lead to increased consumption, not decreased desire for a resource. But hey, at least you're thinking paradoxically!" - ], - "question": "What is the Jevons Paradox", - "text": "The Jevons Paradox is a phenomenon that occurs when we use more of a resource, even when we are using it more efficiently. This happens because increased efficiency often leads to lower costs, which can increase demand for the resource.\n\nOne example of this is the use of coal as an energy source. In the late 1700s, people thought that coal deposits were running out, but James Watt's steam engine made it possible to use coal more efficiently. This led to an increase in the demand for coal, even though it was being used more efficiently. The relationship between energy and money is also important to consider.\n\nSome people have proposed using energy as a measure of value for money, but this has not been successful in practice. Bitcoin, on the other hand, uses a system called proof of work, which incentivizes people to use energy efficiently in order to earn rewards.\n\nWhile some people criticize the use of energy in this way, it is important to remember that humans are constantly finding new ways to generate energy, and we should not assume that energy is a fixed or limited resource.\n", - "title": "What is the Jevons Paradox" - }, - "powerLaws": { - "answers": [ - "A power law in economics", - "A type of pasta dish", - "A way to fold laundry" - ], - "feedback": [ - "Good job! The Pareto principle, also known as the 80/20 rule, is a power law that explains how a small amount of something (like 20% of producers) can have a big impact (like 80% of the market share).", - "Sorry, but it looks like you need to brush up on your economics and not your culinary skills. The Pareto principle is not a type of pasta, although it might be a tasty way to remember it", - "I'm afraid you're going to have to put away the laundry and pay a little more attention to economics. The Pareto principle is not a way to fold clothes, but it is a useful way to understand how small changes in one thing can lead to bigger changes in another." - ], - "question": "What is the Pareto principle, also known as the 80/20 rule, an example of", - "text": "Power laws are a way to understand how two things are related. When one thing changes, the other thing changes in a way that is related to the first change. Power laws can show up in different areas, like language, biology, and space. Small changes in one thing can often lead to bigger changes in the other thing.\n\nIn economics, power laws are often shown in graphs. One example of a power law is the Pareto principle, which says that about 80% of the results come from 20% of the things that cause them. In a market, this might mean that 20% of the producers make up 80% of the market.\n\nPower laws can also be seen in other parts of bitcoin, like how much power mining pools have or how many hardware wallets different companies sell. They can also be seen in how bitcoin is distributed among different addresses.\n", - "title": "What is the Pareto principle, also known as the 80/20 rule, an example of" - }, - "winnerTakeAll": { - "answers": [ - "Because it is the most liquid and the best way to store value", - "Because it tastes the best", - "Because it has the prettiest color" - ], - "feedback": [ - "You got it right. The main reason that people usually agree on using one type of money in a certain area is because it is the most liquid and the best way to store value", - "I'm afraid you might be confusing money with your favorite flavor of ice cream. Try again", - "Sorry, but the color of money is not the most important factor in determining which type to use. Better luck next time!" - ], - "question": "What is the main reason that people usually agree on using one type of money in a certain area", - "text": "The concept of winner-take-all effects is when only one product or service is the best and everyone wants to use it. This can happen in markets where a small advantage can lead to getting all of the business.\n\nMoney is a network like this, where only one type of money is used in a certain area because it is the most useful and has the most options for trading with other people. This happens because people want to use the money that will give them the most options and be the most useful in a lot of different situations.\n\nMoney is also a good way to store value over a long time. When it comes to monetary systems, people usually agree on using one type of money because it is the most liquid, or easiest to use, and it is the best way to store value.\n", - "title": "What is the main reason that people usually agree on using one type of money in a certain area" - } - } - } -} diff --git a/chapter-603-bitcoin-and-economics-iii/603-combined.json b/chapter-603-bitcoin-and-economics-iii/603-combined.json deleted file mode 100644 index dcc1492..0000000 --- a/chapter-603-bitcoin-and-economics-iii/603-combined.json +++ /dev/null @@ -1,82 +0,0 @@ -{ - "BitcoinandEconomicsIII": { - "title": "Bitcoin and Economics III", - "questions": { - "unitBias": { - "answers": [ - "The belief that one unit of something is always the right amount to use when comparing it to other things", - "The belief that one type of currency is better than all others", - "The belief that all units of something should be the same size" - ], - "feedback": [ - "Yep! Unit bias is the belief that one unit of something is always the right amount to use when comparing it to other things. However, this is not always true and can lead to faulty reasoning. Good job", - "I'm afraid you're mistaken. Unit bias is not about believing that one type of currency is better than all others. Maybe you should stick to counting your coins instead of trying to determine the value of currency", - "Sorry, but unit bias is not about the size of units. Don't worry, though – you can still have fun with different sizes of units by playing with building blocks or LEGO bricks." - ], - "question": "What is unit bias", - "text": "Unit bias is a type of thinking that assumes that one unit of something is the right amount to use when comparing it to other things.\n\nThis is not always true, especially when it comes to bitcoin. To understand how bitcoin compares to other stores of value, you need to look at the total amount of bitcoin that is available and its value, not just the price of one unit. Bitcoin is very small and can be divided into very small amounts, down to 8 decimal places. This means that you can buy a very small part of a bitcoin if you want.\n\nPeople sometimes think that other cryptocurrencies are cheaper than bitcoin because they cost less per unit, but this is not always true. Bitcoin is a special type of digital money because it is limited in supply and cannot be made in larger amounts.\n\nThis makes it a good way to store value because the value does not decrease over time. When you look at bitcoin in this way, you can see that it is just a small part of the total amount of non-government wealth in the world.\n", - "title": "What is unit bias" - }, - "veblenGood": { - "answers": [ - "A type of good that people want more of when the price goes up", - "A type of food that tastes better when it is expensive", - "A type of good that people want more of when they have more money to spend" - ], - "feedback": [ - "Exactly! A Veblen good is a type of good that people want more of when the price goes up. This is unusual because most people want things more when they have more money to spend", - "I'm sorry, but a Veblen good is not a type of food. Maybe you should stick to eating your favorite foods instead of trying to understand economics", - "I'm afraid you're mistaken. A Veblen good is not a type of good that people want more of when they have more money to spend. Maybe you should pay more attention to economics instead of just spending your money!" - ], - "question": "What is a Veblen good", - "text": "Veblen goods are things that people want more of when the price goes up. Normal goods are things that people usually want more of when they have more money to spend.\n\nVeblen goods are unusual because people want them more when they cost more. These are often luxury goods that are hard to get or that are made in limited quantities. This is done to make them seem special or rare.\n\nSome people might want to buy bitcoin because it is a status symbol, but the main reason people will probably want to buy it is because there is a limited amount of it.\n\nWhen more people want to buy bitcoin, the price goes up and it becomes easier to use. When it is easy to use, more people want to use it. This creates a cycle where the demand for bitcoin increases, the price goes up, and it becomes easier to use.\n", - "title": "What is a Veblen good" - }, - "malinvestment": { - "answers": [ - "Distorted price signals", - "Aliens from outer space", - "A lack of unicorns in the economy" - ], - "feedback": [ - "Correct answer! You're on the right track. When prices are not accurate, it can lead to money being put into things that are not very productive. Good job", - "Wrong answer! But at least you're thinking outside the box. Maybe the aliens are controlling the price signals from their spaceship... or maybe not. Better luck next time", - "Sorry, but unicorns do not have the power to control the economy. Although, it would be pretty cool if they did. Better luck next time." - ], - "question": "What is the main cause of malinvestment", - "text": "Malinvestment is when the prices of things are not accurate, which leads to money being put into things that are not very productive. This happens because it is hard to predict the future and make good choices about what to do with money.\n\nWhen the market is not working correctly, it is like trying to use a compass when you are not sure where you are. An example of this is when companies can't pay back their loans and have to borrow more money just to stay alive. This is like being a \"zombie\" company.\n\nWhen the government is in charge of these decisions, they might make mistakes because they don't have a good way to tell what is a good investment and what is not. This can lead to things like building a subway without enough trains or building a dam without enough power lines.\n", - "title": "What is the main cause of malinvestment" - }, - "asymmetricPayoff": { - "answers": [ - "When the potential upside is disproportionately greater than the downside risk", - "When the potential upside and downside are equal", - "When the potential upside is a talking llama and the downside is a mute giraffe" - ], - "feedback": [ - "Correct answer! You got it! An asymmetric payoff means that the potential for gain is much greater than the potential for loss. Good job", - "Wrong answer! An asymmetric payoff means that the potential for gain or loss is uneven, not equal. Better luck next time", - "Wrong answer! While a talking llama and mute giraffe might make for an interesting investment, they do not define an asymmetric payoff. Better luck next time." - ], - "question": "What is an asymmetric payoff in the context of investment decisions", - "text": "When we make decisions about investing our money, we try to predict what might happen and how much money we could make or lose. Sometimes, the amount of money we can make or lose is not equal.\n\nFor example, if we invest in something that has a big chance of making us a lot of money, but only a small chance of losing a little bit of money, we might call this an \"asymmetric payoff.\" This means that the potential upside (how much we can make) is much bigger than the potential downside (how much we can lose).\n\nOne example of this is bitcoin. Bitcoin's potential outcomes are similar to an option, meaning it either succeeds or fails. If it experiences a catastrophic event, the risk of losing money is minimized.\n\nHowever, the potential upside is much greater, as bitcoin's total addressable market has the potential to be a primary global store of wealth.\n\nAsymmetry in payoffs, or uneven potential outcomes, only occurs when there is uneven understanding or information about an investment. If everyone fully understood bitcoin, it would already be widely used as a form of currency.\n\nCurrently, not everyone is aware of bitcoin's potential as a superior monetary option, so the potential for it to increase in value depends on the demand for it increasing without a corresponding increase in the supply.\n", - "title": "What is an asymmetric payoff in the context of investment decisions" - }, - "ansoffMatrix": { - "answers": [ - "It helps identify potential growth strategies for the bitcoin protocol", - "It helps determine the optimal temperature for storing bitcoin", - "It helps calculate the potential return on investment for bitcoin mining operations" - ], - "feedback": [ - "Correct answer! You got it! The Ansoff Matrix can be used to outline growth strategies for the bitcoin protocol, such as developing and selling it to different markets. Good job", - "Nope! Storage temperature for bitcoin private keys is not a real issue, and it is not related to the Ansoff Matrix. Better luck next time", - "Wrong answer! While calculating potential returns on investment is important for bitcoin miners, it is not directly related to the Ansoff Matrix. Better luck next time." - ], - "question": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin", - "text": "The Ansoff Matrix is a tool that helps companies think about how they can grow and make more money. It helps them figure out what to do with a product or service they have, and how to sell it to different groups of people.\n\nIn the case of bitcoin, it is a product that is like a type of digital money. It has the potential to be used by a lot of people in a lot of different ways. The people who work on bitcoin, like the people who write the code and help others understand how to use it, are trying to increase the number of people who use it and make it easier for them to do so.\n\nBitcoin can be used to save money and protect it from being taken away, or it can be used to send and receive small amounts of money quickly, without having to go through a lot of steps. As more people start using bitcoin, it has the potential to grow and become more popular.\n\nIt is also possible for people and companies to use bitcoin as part of their financial plans, to help protect their money from losing value. While the main reason people might use bitcoin now is to protect their wealth, the payment use case has been growing fast since the inception of the Lightning Network and other use cases may emerge.\n", - "title": "How is the Ansoff Matrix relevant to the growth and potential of bitcoin" - } - } - } -} From f1520ee351e06effcc6ed350eca896fdca3be040 Mon Sep 17 00:00:00 2001 From: Lee Salminen Date: Thu, 12 Oct 2023 10:47:12 -0600 Subject: [PATCH 13/13] wrong file name --- .../assets/svg/{203-02-veblen-good.svg => 603-02-veblen-good.svg} | 0 1 file changed, 0 insertions(+), 0 deletions(-) rename .gitbook/assets/svg/{203-02-veblen-good.svg => 603-02-veblen-good.svg} (100%) diff --git a/.gitbook/assets/svg/203-02-veblen-good.svg b/.gitbook/assets/svg/603-02-veblen-good.svg similarity index 100% rename from .gitbook/assets/svg/203-02-veblen-good.svg rename to .gitbook/assets/svg/603-02-veblen-good.svg