My Favorite Cryptocurrency & Blockchain Videos

I’m putting this together for a few friends but others might find it useful as well. This is not a self-contained explainer piece. Hopefully it’s more of a catalyst for you to research these items. We’re still in the early stages of this technology and it looks like it could have a dramatic impact on our society. If you’re interested in that sort of thing, I recommend you start by taking several hours to learn about it. Yep.

Let’s start with a some concepts that were around before cryptocurrencies.

1. Stuff is valuable because people collectively believe it is.
2. Money is a measure of value and a medium of exchange that addresses the inconveniences of a barter system. (see double coincidence of wants)
3. Commodity money is made out of a commodity — think gold coins.
4. Commodity-backed money is backed up by the commodity they represent.
5. Fiat money is declared by government regulation and it’s value is based on the confidence of the issuing government and central bank. (wiki on monetary systems)

The series of 1899 $5 silver certificate “certifies that there have been deposited in the treasury of the United States”

In contrast with what came before it, cryptocurrencies have no intrinsic value like gold AND it’s not issued by a central bank or government. The five videos below are my favorites amongst dozens I’ve watched. There is a bit of overlap between these videos, but some of the concepts are complex enough to warrant hearing about it more than once. You might be inclined to tune out in part of these videos if you’re not technically minded — stick with it because usually what quickly follows is why that technical detail is important.

1. Understanding the Blockchain in Two Minutes (2m 25s)
2. How Bitcoin Work in 5 Minutes (5m 25s)
3. Ever wonder how Bitcoin (and other cryptocurrencies) actually work? (26m 20s)
4. The Blockchain and Us (31m 26s)
5. Ethereum for Dummies (~16m — watch until the Q&A)

Eliminating the need for centralized intermediaries to establish trust. Digital scarcity. A distribute, decentralized computer that apps can be built on top of. It should be clear that this is more than just about some digital form of currency. These advancements are likely to bring about significant changes in our lifetime. It feels like the early days of the internet. You have an inkling that big things will come from this, but it’s hard to say exactly how it’ll unfold.

Map of ARPANET which was the network that became the basis for the Internet, April 30, 1988

There is a lot more to learn beyond those videos. Mining, currency exchanges, ICOs and Dapps. A word of caution — If you plan on putting money into cryptocurrency, I recommend you consider it gambling opposed to investing. I also recommend gaining understanding of any cryptocurrency before you put money into it. I’ve used Kraken and Gemini and have had no problems with them.

Hope that was a little helpful!