We recently issued a survey titled How Well Do Americans Understand Money? to 1,000 Americans to gauge their overall knowledge of the nation’s financial system. If our survey’s respondents are even moderately representative of the population at large (and we have a feeling that they are), there is a notable deficit in several areas of finance-specific knowledge in America.
Last year we conducted a survey of 1,000 American consumers and asked them various questions about the financial system that rules practically everything we do. When we got the results back, we were surprised to find that most people are relatively out of touch with the way that our money is created, how it circulates, and the financial systems that maintain the delicate balance between prosperity and widespread ruin.
Dollars, Bitcoin, Euros, cash. There are countless ways to refer to the entity that makes the world go ‘round, and there are even more ways to measure its worth. Whether you are exchanging it for a roof over your head or the dinner on your table, money in its many forms is the centrally defining theme that connects the world and defines the quality of our lives.
A soundbyte news item recently took the crypto community by storm: 85% of the world’s Bitcoin supply has been mined.
It’s a little too easy for newbie crypto investors to interpret this data point as bad news. It sounds too much like “the end of Bitcoin is near,” and suggests a tone of doom for companies that depend on the popular cryptocurrency to function.
But in a good way. 2019 for the cryptocurrency industry was just a giant question mark. Apparently, the crypto-winter 2018 represented is over, but then was this some kind of spring? Cause it was really, really long with lots of rainy days in between. Not complaining though!