The Crypto News Podcast

Episode 002: Crypto Made Simple

Welcome to the Crypto News Podcast Bootcamp Episode number 2!

Coming up in today’s show:

    • How to explain Bitcoin to your grand parents
    • Interesting things you didn’t know about Bitcoin
    • PLUS we attempt a simple, one-sentence explanation of Bitcoin!

Coinbase

Watch on YouTube

Listen on Libsyn

1) Here's the infographic that we were talking about in the episode:

2) Bitcoin explained like you’re 5: https://medium.freecodecamp.org/explain-bitcoin-like-im-five-73b4257ac833

3) What Bitcoin isn't: https://fee.org/articles/what-bitcoin-isnt-a-ponzi-unbacked-tulipmania/

4) 50 Bitcoin facts infographic:

See http://uk.businessinsider.com/bitcoin-price-8-surprising-places-where-you-can-use-2017-10

The answer is, not many places!

If Amazon accept it – or somewhere like AliBaba, the value is likely to jump … also, Amazon has been registering crypto domains which suggest that it is making a move in this direction: https://www.cnbc.com/2017/11/01/amazon-buys-crypto-domains-bitcoin-ethereum.html

6) Can we explain Bitcoin in one simple sentence?

Bitcoin is an online currency that can be sent and received by anyone in the world, relying on computers to control the transfer and creation of money without human intervention, which results in low costs and super-fast, low-cost transfer.

7) What the heck is mining?

This is what stopped me investing in Bitcoin 3-4 years ago … I took a look, tried to figure it out, realised it was beyond me.

Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. … The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. [Source: Investopedia]

I can read and hear this info as many times as you like, I still don’t really get it! However, I don’t really know how electricity works, but I know how to turn a light on and off without getting an electric shock 🙂

This is what a mining rig looks like 🙂

8) Satoshi Nakamoto white paper: https://bitcoin.org/bitcoin.pdf

9) The $20 million pizza order: https://www.investopedia.com/news/bitcoin-pizza-day-celebrating-20-million-pizza-order/

10) Bloomberg anchor displays bitcoin on TV, immediately gets robbed by viewer: https://www.rt.com/usa/bloomberg-anchor-robbed-bitcoin-747/

Any questions? Email us at questions@cryptonewspodcast.com

Comments are closed.