Rich Dad’s Conspiracy of the Rich and Cryptocurrencies

September 12, 2016

What is the link between this book and digital currencies or cryptocurrencies or even blockchain technologies?

Surprisingly, the first part of the book goes into the history of where money came from, how in 1971, the USD was severed from the gold standard and from then on the US and other countries started printing money.

Printing money is regarded as a bad thing for many reasons. This is why when bitcoin was created, it has a fixed supply of around 21 million. It was designed to mimic that of a natural resource like good. Finite.

Everyone nowadays is jumping on this band wagon of blockchain technologies and smart contracts, which is great. I am as well. The difference being that my apprenticeship has started at the bottom.

Learning about bitcoin has forced me to learn about what money is, where it came from and hopefully where it is going. Bitcoin wasn’t invented just for fun. It wasn’t invented so we could have smart contracts to automatically contracts without the need for lawyers. It was invented because there is a fundamental problem with the worlds money supply. There is an imbalance which means there will be a shift if something is not done.

Highly recommend this book to understand lots of basic concepts which allows wider thinking and implications for cryptocurrencies.

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