Welcome to the Beginner's Guide to Bitcoin.
Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.
Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.
The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.
Beginner’s Guide Part 17- Fuck You, Bitcoin! with John Carvalho
Bitcoin is not only the best version of decentralised money the world has seen; it is the best money the world has seen. It takes power away from centralised authorities and allows individuals to transact with whomever they want. With Bitcoin, nobody can confiscate your money, and the protocol has a clear set of rules that everyone on the network can see and follow.
The Bitcoin protocol is robust, secure and self-governing, and with that, Bitcoin is ‘fuck you’ money. If a centralised powers want to seize your Bitcoin or stop payment, Bitcoin empowers individuals to say fuck you in a way that has never been seen before.
Regardless of politics, economic uncertainty or almost any event imaginable, every 10 minutes Bitcoin continues to produce blocks, giving individuals the freedom to use it how they choose.
In Part 17 of the Beginner’s Guide to Bitcoin, I talk to John Carvalho. We discuss removing power from governments, why altcoins are a poor investment, and why Bitcoin is ‘fuck you’ money.