Episode 144 – Bitcoin basics 2: Bitcoin basics and tools to get started | David
In the last episode, we covered the basics of the monetary system and history with David, a member of our community. Check out that episode if you haven’t already.
Today in the second part we cover the basics of Bitcoin. Still, many FI Europeans haven’t gotten their feet wet with crypto. If you like to start experimenting with it or you already started but haven’t thought about the basic concepts behind you might want to continue listening.
If you’re already a pro you might want to skip the episode. We also suggest some simple steps and tools to start investing.
Nevertheless, I want to emphasize that there is no need to necessarily invest in BTC or crypto if it’s not your cup of tea you’ll be still fine. No need to have fear of missing out although the returns of the past years have outperformed the S&P 500 and Nasdaq. Check out also the PDF in the show notes with some how-to guides. As usual, this episode is no official financial advice. Your capital might be at risk.
☝️ There is a complimentary guide for this episode made by David. Check it out.
We talk about
- Basic principles of BTC
- Store of value
- Proof of work, P2P, Cryptocraphy, Blockchain, immutability
- decentralization and importance of nodes
- comparison of BTC to other currencies
- Trilemma of blockchains
- tools to get started
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- Get Davids beginner guide mentioned in the episode