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Crypto Crash Course —A newbie’s guide to Cryptocurrencies, DeFi, and NFTs — the 2021 version– Crypto Knowledge Tree — SharkHacks Guide to Crypto

Disclaimer: Content below is for educational purpose only and is NOT to be considered Financial Advice!

Note: This is a work in progress guide, that will be updated as I go teaching, learning more, and discovering new projects, tools, and tips and tricks

Last update : Sep 11, 2021 L2 Arbitrum

I’ve been fascinated with Crypto for a long time, I stumbled on Crypto first in 2011, I was part of the rise in 2017, participated in the first DAO, then fell in love again in 2020 and 2021.

One of the hardest things about learning, and mastering a new subject is knowing where to start, and what are all the concepts that one has to understand in order to be effective. Understanding the core concepts, the ‘lattice work’, and developing a mental model around these concepts.

Below I have outlined the core concepts that one has to understand to be effective in the Crypto, DeFi, and NFT World, along with the best resources I have found to date around these concepts.

Note that this is written for investors and non – technical audiences and was put together to help my non-technical friends and family.

Money 101

What is money ?

Time Value of Money

How the economy works

Market Supply & Demand

Inflation and deflation

Crypto 101

Bitcoin

Ethereum

Proof of work vs Proof of stake

Crypto-economics

Tokenomics

Metcalf’s Law

L1 ecosystems

Bitcoin

Ethereum

Ethereum 2.0

L1 comparison and trade offs

L2 ecosystems

Other critical pieces

Interoperability

Oracles

DeFi 101

Stablecoins

Synthetics

Staking

Lending and borrowing

Liquidity mining

DAOs 101

NFTs 101

Gaming

Metaverse & Web 3.0

Money 101

What is Money?

Time value of money

How the Economy Works?

The world’s most famous Ray Dalio about how the economy works

Market, Supply, and Demand

Inflation and Deflation

Why the current financial system is broken?

And Now …. Bitcoin

2008 Satoshi Released his white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” https://bitcoin.org/bitcoin.pdf

What is Cryptocurrency?

Proof of Work (Mining) , Proof of Stake (Staking)

Tokenomics:

Metcalf’s Law:

One way to think of demand/value of cryptocurrencies (and Crypto networks) is in terms of Metcalf’s law (the networking effect) https://en.wikipedia.org/wiki/Metcalfe%27s_law

Larger Networks, Projects, and Ecosystems

Bitcoin:

https://www.youtube.com/watch?v=scZBwQW7h0E

Ethereum

Ethereum as explained by the founder:

Ethereum 2.0

Layer 2 Protocols (for Ethereum)

Due to the current nature of Ethereum, it has scaling problems. Layer 2 scaling solutions, are other crypto projects, and tokens, that are meant to help Ethereum scale:

Polygon / Matic (one of the larger L2 solutions for Ethereum)

Arbitrum

Avalanche

Official video :

Solana

Beyond the Currencies

Decentralized Finance (DeFi)

What is DeFi?

The best “Model” to think about DeFi that i have found around is the Bankless Skill Cube: : https://newsletter.banklesshq.com/p/the-bankless-skill-cube

History of DeFi — DeFi Summer of 2020

Liquidity Pools:

Liquidity Pools sound great, but you need to be aware of IL

Impermanent Loss (IL)

IL is one of the hardest concepts to wrap your head around, it was like that for me, so here are two videos that helped me.

Yield Farming:

Stablecoins

https://www.coindesk.com/markets/2020/12/29/what-is-a-stablecoin/

Fiat Currency Backed

USDT

USDC

DAI

Algorithmically Stable

UST / LUNA

FRAX

Gold

https://www.paxos.com/paxgold/

Memecoins (Shitcoins)

Interesting Memecoins with PonziNomics

Oracles

Keep an eye on Chainlink, it’s everywhere.

Bridges

Identity

NFT

NFT like the pros, Follow the money

Crypto collectibles

Is one type of NFTs, think baseball cards

Great video discussing NFTs

Gaming

Axie Infinity — Huge Potential

and Entertainment

Decentralized Autonomous Organizations (DAOs)

DAOs are organizations, and communities. From one standpoint you can think of a DAO as a CEO-less company, where shareholders vote directly on the direction of the company, the projects and initiatives it should execute on.

A more recent DAO report can be found here:

Metaverse

Web 3.0

How to buy Crypto ?

Centralized exchanges

Decentralized Exchanges (DEX)

You should never leave your crypto on the exchange

Crypto Wallets, self custody, and security

You are now your own bank, and so the security of your money is your own “problem”

Investing & Trading

Opportunity Cost

Dollar Cost Average (DCA)

a great strategy to accumulate

Market entry

Market exit

https://youtu.be/ZGd6O79_MOc

Follow Innovators, Investors, and Big Money

Stalk those people on twitter, their projects, what they say, and what they invest in

Trading

Macro

Tokenomics, Ponzinomics, and Game Theory

https://www.youtube.com/watch?v=ftCaqG7wckg

Crypto is about aligning incentives.

Market Cycles

Relationship between BTC, and Altcoins

Technical Analysis

Security, Trust, FUD and FOMO

Follow “Trusted” people, and make sure you don’t fall to scams

Don’t leave your money on the exchange

Tools

Twitter

Reddit

CoinGecko

A site listing many of the “larger” coins/tokens/projects, with information about them, market cap, linking to their sites, addresses, etc.. a great resource

https://www.coingecko.com/

see also CoinMarketCap (might be biased/owned by Binance) http://coinmarketcap.com

TradingView

http://tradingview.com

DexTools

Block Explorers

For every blockchain network / project, there are Blockchain explorers, or tools that you can use to lookup addresses, transactions, contracts, tokens, etc.

Wallet

http://exodus.com

Trusted Resources

Coin Bureau is one of the quality news, and information resource in Crypto:

https://www.youtube.com/channel/UCqK_GSMbpiV8spgD3ZGloSw

Jargon:

Paper Hands

Diamond Hands

FUD

FOMO

Ape

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