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Lesson 101


Monopoly is a situation in which a single company or group owns all or nearly all of the market for a given type of product or service. By definition, monopoly is characterized by an absence of competition, which often results in high prices and inferior products.

According to a strict academic definition, a monopoly is a market containing a single firm. In such instances where a single firm holds monopoly power, the company will typically be forced to divest its assets. Antimonopoly regulation protects free markets from being dominated by a single entity.


Bitcoin is a Xenocurrency. A currency that trades in markets outside of its domestic borders. The term "xenocurrency" is derived from the prefix "xeno," which literally means foreign or strange. An example of a Xenocurrency would be the euro traded in the United States, or the yen traded in Europe.


Hyperinflation is an extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is a situation where the price increases are so out of control that the concept of inflation is meaningless.

Imagine taking a road trip. At the start of the day, a can of soda at a convenience store costs exactly $1. By nightfall, that same can of soda costs $3. This sounds impossible, right? It is possible and money can become essentially worthless.


Deflation is a general decline in prices, often caused by a reduction in the supply of money or credit. Deflation can be caused also by a decrease in government, personal or investment spending. The opposite of inflation, deflation has the side effect of increased unemployment since there is a lower level of demand in the economy, which can lead to an economic depression. Central banks attempt to stop severe deflation, along with severe inflation, in an attempt to keep the excessive drop in prices to a minimum.

The decline in prices of assets, is often known as Asset Deflation.

Interesting Facts

What was the first "Digital Wallet" used to receive Bitcoin?

  • The first digital wallet used to receive Bitcoin was Mozilla Thunderbird email in the year 1996 - 1998.
  • Netscape through the Mozilla project allowed testers to try out the Mozilla Thunderbird before its initial release a few years later.

How was Bitcoin sent through email in 1996 - 1998?

  • The email address was "Backward" encrypted to convert the alphabetic characters to numeric characters and vice versa. (bcrypt)
  • So with those numeric characters instead of alphabetic characters, you were able to create a numeric address that can be used to send and receive Bitcoin, messages, and other documents.

What is C++?

C++ is short for Crypto++. Crypto++ is a cryptographic algorithm and scheme written by JC Martin in 1993-1995 under the pseudonymous name Wei Dai.

Who is Wei Dai?

WeI Dai is a pseudonymous character created by JC Martin in 1993 - 1996. Wei Dai was created in response to a security measure to protect the identity of the developer of numberous computer projects.

Wei Dai is also a pseudonymous word itself. The word Wei Dai is also known as WE ID AI.

Wei Dai also means We Identify All Incoming or (Involved). (analytics)

It was created to track the individuals involved in the theft of my projects. Only the thieves would know this name. I created analytics for this purpose. So now I know every person and corporations involved. Thank you. Enjoy.

What is Bitcoin?

Bitcoin is a digital currency created by a 13 year old kid by the name of JC Martin, also known as Satoshi Nakamoto in 1993.

Bitcoins were originally created to be traded online through your personal ISP and email addresses. 

Bitcoin is a peer to peer (P2P) currency system created in Crypto++ also know as C++ programming code created and developed by JC Martin in 1993-1995.

Bitcoins can be accessed from anywhere in the world with an internet connection. Once a user has Bitcoins, they are stored in your email also known as digital wallet.

Bitcoins can be sent to anyone else who has a digital wallet or email address.

Bitcoin circulation and expansion is governed by Bitcoin software and is programmed to expand as a geometric series, thus limiting the effects of monetary inflation.

Who is Satoshi Nakamoto?

Satoshi Nakamoto is a pseudonymous character created by JC Martin in 1993 - 1996 in response to a security measure to protect the identity of the developer of numberous anonymous projects.

What is P2P?

P2P is called peer to peer. It is an interconnected communication system in which ("teens") share resources amongst each other without the use of a centralized administrative system.

What is the difference between B Money and Bitcoin?

There is no difference. B Money is just a slang term for Bitcoin. Satoshi Nakamoto and Wei Dai are the same pseudonymous characters. They were both created by JC Martin in response to a security measure to protect the identity of the developer of numberous computer and anonymous projects.

Is Bitcoin Open Source?

Originally No. Bitcoin is patented by JC Martin using the pseudonymous name Wei Dai. He is listed as inventor on U.S. patents 5724279 and 6081598. There were many attempts by corporations to steal this invention. JC Martin also known as Wei Dai never worked for Microsoft. "Where is his paycheck?" If he did, that means Microsoft would be in violation of the Federal child labor law which generally prohibits the employment of minors.