I am all around your everyday life
It's in your phone, it's in computers, it's in everything you use.
But you can't see me with eyes, like a hidden knife
You can't see the individual bits that computers use, but it is important, like a hidden knife.
I am made up of some of the most important numerals in town
Here the most important numerals are 0 and 1 (possibly i or e or pi could have claim to that position but the next line dissallows that)
Just take away imagination and these irrational clowns
We don't care about imaginary numbers and irrational numbers, thus leaving us with only 0 and 1
Name this mathematical concept
Binary is a mathematical concept