Bitcoin for Beginners: A Short Guide
Hi all. So this is a short-ish list of Bitcoin resources I wanted to make available. I keep this in a note on my phone so that it is readily shareable whenever I meet someone who is interested in going down the Bitcoin Rabbit Hole...
I hope you find this useful and that you share it with as many people as you can! I believe that hyper-bitcoinization IS an inevitability, but that doesn’t mean we can’t strive to get there a little bit quicker…
Introduction
If you are new to Bitcoin and cryptocurrencies in general, I would urge you to really, really study Bitcoin before looking at anything else.. It was the first “cryptocurrency,” and there are very good reasons why it is still the most popular and well known. Bitcoin may be the oldest, but it is absolutely NOT the “MySpace” of crypto. Bitcoin is constantly evolving and adapting and there are many exciting developments on the horizon.
Why is Bitcoin so important?
In the words of Travis Kling, “Bitcoin is a non-sovereign, hard-capped supply, global, immutable, decentralized, digital store of value. It is an insurance policy against monetary and fiscal policy irresponsibility from central banks and governments globally.”
Bit of a mouthful huh?
If you’re wondering what any or all of that means, that’s perfectly OK! But now is where you have to begin the process of DYOR, i.e. doing your own research, but don’t worry, after this meme there are some great resources…
Before you dig into the below resources, please check out this letter from my friend Gigi. I’ve listed some of his resources below as well, but this letter is very helpful and is something I would urge you to share with anyone who is interesting in learning more about Bitcoin.
Websites
Bitcoin Resources — A great website from Jameson Lopp to start off on your Bitcoin journey. It can point you in a million directions for everything Bitcoin.
Nakamoto Institute — A fantastic resource from Pierre Rochard & Michael Goldstein. The link above is to the Bitcoin White Paper written by Satoshi Nakamoto, but the site is a treasure trove of other reading material as well.
21 Lessons — 21 Lessons is a great audio podcast / series of lessons by Gigi that will get you to really understand WHY Bitcoin is so important. Gigi also has his own resource site that’s fantastic and will soon be community driven.
Bitcoin Only — This is great site with TONS of bitcoin resources organized by category. Add it to your bookmarks for easy referencing!
Mises.org — This is the official website of the Mises Institute, which is “The world’s leading supporter of the ideas of liberty and the Austrian School of economics.” Austrian economic thought had and continues to have a major influence on Bitcoin, and this site is a treasure trove of resources to help frame your understanding.
On YouTube
Watch all the Bitcoin videos by Andreas Antonopoulos. This is a must. Start with his Bitcoin for Beginners playlist if you’re new. Once you get to his videos on Ethereum… hard stop :)
Andreas is an expert in all things Bitcoin, and he has been speaking around the world, educating folks about Bitcoin for a long time. Ask any Bitcoiner and there is a high chance that Andreas is directly responsible for helping them down the Rabbit Hole..
Must Read Books
The Internet of Money by Andreas M. Antonopoulos — Perhaps my favorite book on Bitcoin that really gets to the heart of why Bitcoin is so important and powerful.
The Bitcoin Standard by Saifedean Ammous — One of the seminal pieces of Bitcoin Literature, this book explores what money is from the ground up and will give you a primer on Austrian Economics, which is KEY to a proper understanding of Bitcoin.
Inventing Bitcoin by Yan Pritzker — This book is just fantastic. It’s very short, but it does an amazing job of explaining the key aspects of Bitcoin in an easily understandable format from the ground up. I highly recommend this book.
Bitcoin Money by Michael Caras (aka The Bitcoin Rabbi) — Want to share bitcoin with your kids? Or just want to start with something fun and more accessible? This is the book for you! It makes a great gift or coffee table book / conversation starter, and there’s even an animated version:
The Little Bitcoin Book — This is a nice little book. It’s very accessible and it talks about the importance of Bitcoin through the POVs of various folks from all over the world. If you’re intimidated by the other books, this might be a good place to start.
Digital Gold and Bitcoin Billionaires — The history of Bitcoin provides a great context for learning about Bitcoin in my opinion, and these two books do a pretty good job of taking you back to the early days through the eyes of some of Bitcoin’s earliest proponents. I don’t always agree with what the authors say or how they say it, and you should keep in mind that these are narratives, not necessarily all facts, but on the whole, worth reading. If you really want to dig deep into Bitcoin’s history.. check out https://bitcointalk.org/
Bitcoin Podcasts
Tales from the Crypt — This podcast is the reason I am a Bitcoiner. Host Marty Bent interviews all the major people in Bitcoin, and once a week, Marty is joined by co-host Matt Odell for a “Rabbit Hole Recap,” of the week’s events.
Citizen Bitcoin Podcast — Join Brady on his journey down the Rabbit Hole. He interviews all sorts of interesting folks in Bitcoin and you get to learn alongside him. Definitely one of my favorite podcasts.
What Bitcoin Did Podcast — Peter McCormack hosts this excellent podcast and asks all the questions other people are too embarrassed to ask. Peter is definitely not an expert on Bitcoin, but this is the selling point and the calibre of his guests is always top notch.
Stephan Livera Podcast — This podcast is focused on Bitcoin and Austrian Economics. It is more of an intermediate pod, but a MUST listen.
The Cryptoconomy with Guy Swann — Bitcoin is incredibly thought provoking, so much so, that it causes people to write about it at length, sometimes at too much length... If you’re like me and prefer listening to reading.. this podcast is for you. Guy Swann aggregates all the best articles and thought pieces about Bitcoin and records himself reading them along with some choice commentary.
***Please note there are MANY bitcoin podcasts out there and this is by no means a complete list. I would urge you to explore and see which podcasts you like and are most appropriate to your needs.
Newsletters
The Bent — I would HIGHLY RECOMMEND signing up for Marty Bent’s daily newsletter. Hands down the best out there. This is the same Marty Bent from the Tales from the Crypt Podcast mentioned earlier… Sign up and thank me later.
WORDS — “All signal, no noise. The best place to read about Bitcoin.” Words is a GREAT repository of knowledge. Bitcoiners love to write about Bitcoin, and you can find much of that writing here on Medium, but Words does a great job of aggregating quality ariticles. Definitely check it out.
Bitcoin Optech — This newsletter is primarily for advanced Bitcoiners who want to keep up with latest technical developments happening in the Bitcoin ecosystem, but even if you’re a beginner, it’s worth taking a look. Sign up. Skim the technical jargon. You’ll start absorbing information over time.
Meet-Ups
Meet-ups have always been a big part of Bitcoin. Bitcoiners get together to learn and discuss the latest updates happening in the Bitcoin ecosystem, and I would highly recommend checking out this list of meet-ups to see if there is already one in your area, and if not, start one!
***Unfortunately the Covid-19 pandemic and social-distancing has prevented most meet-ups from continuing their regular schedules for the time being, however Bitcoiners are technologists and we always find a way! Keep reading!
Most recently I have been attending virtual reality meetups held by Udi Wertheimer and they are fantastic! Even if you don’t own a VR headset, you can join in from your PC or phone, and there is also usually a live stream.
Conferences
Unfortunately in-person conferences have been put on hold by the pandemic as well. That’s actually good news when it comes to “crypto” conferences as most of them are complete garbage! But I would highly recommend trying to attend a Bitcoin conference like Bitcoin 2020 Conference or BitBlockBoom later this year if you are able. And for a full list of upcoming and past conferences across the globe, click HERE.
How to Buy Bitcoin
SwanBitcoin — In my biased opinion (disclaimer I work for Swan too!), Swan Bitcoin is the best way to start accumulating bitcoin in the United States. Swan Bitcoin features automatic, recurring buys and optional (but highly encouraged!) automatic withdrawals to your personal bitcoin wallet. Oh and to top it off.. their fees are SIGNIFICANTLY lower than Coinbase’s: ~75% lower than Coinbase for recurring weekly buys under $100, and ~50% lower for $100+. Basically the best tool out there to “set it and forget it.” And if you use my link, we each get $5 worth of bitcoin. *mic drop*
GiveBitcoin — Part of the Swan Bitcoin family, GiveBitcoin allows you to buy bitcoin for friends, family, or yourself, and it’s timelocked for one year. Throughout the one year timelock, GiveBitcoin will send your recipient educational resources to learn about Bitcoin and how to secure it properly.
CashApp — One of the easier ways to buy Bitcoin in the United States. The CashApp also allows you to transfer dollars just like Venmo, and you can get discounts at local retailers if you order their Cashapp debit card.
BuyBitcoinWorldwide — This site is a nice aggregator of places to buy bitcoin worldwide. There are many things to consider when buying bitcoin, including your privacy, and this site does a good job of explaining these considerations.
Coinbase — I am not providing a link to Coinbase, as I do not recommend using it. They do deserve credit for spreading Bitcoin to many people in the early days (myself included), but it’s my opinion they are no longer acting in the best interest of Bitcoin or their customers. Their fees on recurring buys are reason enough not to use them, but I will let you DYOR (Do Your Own Research)…
How to Earn Bitcoin (Without Buying Any)
⚡️ FoldApp — Protect your privacy and earn Sats Back (Sats are the smallest denomination of Bitcoin). Fold is really an incredible company. One of my favorites in the Bitcoin space. They allow you to buy gift cards to retailers like Amazon, Starbucks, and many other places, and you earn a percentage back in Bitcoin. Use my link to sign up and we’ll both earn 30,000 sats.
Fold also just announced their new Fold Card which is going to be a GAME CHANGER. Check out this announcement video I helped make for them:
🍭 Lolli.com — Another one of my favorite companies in the Bitcoin ecosystem. Like Fold, but only for online shopping. Before shopping online, I always check for deals on Lolli as they offer Bitcoin back on purchases from over 800 retailers and counting. — Use my link and we both get $10 of bitcoin
…Privacy
As you go down the Bitcoin Rabbit Hole, you will see that privacy is a major concern for most Bitcoiners. And it should be a major concern for you too. As it stands, Bitcoin transactions are not private by default, but there are various ways to obfuscate your transaction history in order to improve your privacy. And remember that Bitcoin development is an ongoing process and that privacy with Bitcoin will continue to improve over time.
PrivacyTools.io is a great website with links to articles and videos on why privacy is important.
This wiki article is a lengthy explanation of privacy as it relates to Bitcoin, comprehensive, but not a short read.
For a more digestible exploration of privacy and Bitcoin, check out this podcast episode from the Stephan Livera Podcast.
***IMPORTANT NOTE***
Do not visit BITCOIN .COM — it is a misleading website that pushes Bitcoin Cash, which is NOT Bitcoin.
SCAMS
Please note that scams are rampant in the world of Bitcoin and other cryptocurrencies. If something sounds too good to be true, it likely is. No one can double your Bitcoin or other cryptocurrencies overnight. Cloud Mining is generally always a scam. There are many scams out there, and I will be writing a separate article on this at some point, but if you are starting out in Bitcoin, be very careful. Never give out passwords, personal information, or private keys, and as we say in Bitcoin, “Don’t trust. Verify.”
Thanks for reading!
Have questions? I don’t pretend to be an expert, but if you leave questions in the comments, I will do my best to answer them or point you in the right direction. And of course this list far from complete… My intention here was to give people a good, not-too-intimidating place to start, but if you have recommendations for resources to add, please comment below.
Thank you again for reading, and I would appreciate if you share this article far and wide! Onwards!
For more from Brekkie von Bitcoin, follow him on Twitter @BVTBC.
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