The U.S. government is shutting down. Bitcoin just hit a record high. Inflation whispers are back. And Wall Street is buzzing with speculation.What does this all mean for your money, your portfolio, and your long-term financial freedom? On this First Friday episode, we unpack the economic headlines you can’t ignore — and help […]
Tag: bitcoin
#325: Bitcoin for Beginners
Okay, so everyone and their dog is talking about Bitcoin — but what exactly is it? And what’s Ethereum?
There’s a famous adage that you should never invest in something that you don’t understand.
Today’s episode is intended to help you understand WTF is going on. Here’s what we cover:
- We explain the history and purpose of blockchain, which is the technology underlying cryptocurrencies such as Bitcoin
- We introduce Bitcoin, which is a use case of blockchain and currently the most popular digital currency. We explain how Bitcoin is created, what “mining” means, what “halving” means, and why some people believe that Bitcoin will continue to increase in value
- We discuss Ethereum, which is about use case of blockchain, and is a software platform on which developers build decentralized apps
- We discuss the environmental impact of Bitcoin, including a discussion about the difference between proof-of-work vs proof-of-stake protocols
If you’re feeling lost in the topic and confused by the jargon, start with this episode in which we cover the basics about blockchain technology and cryptocurrencies.
