What really is Bitcoin? How does it work? What is a blockchain good for? What is an ICO? What questions do I need to ask when investing in cryptocurrency startups?
These lessons start at the beginning, answer the question of “What is Money?” and build from there to build your knowledge of Bitcoin, cryptocurrencies, and blockchain technology.
Back in the 1990’s, over a decade before Bitcoin was invented, the first digital money was created. Then in the early 2000’s came mobile money.
Back in the 1980’s, before PayPal, before M-Pesa, before the Web, there was an unanswered question discussed on the early Internet asking, “Is it possible to create an online system that acts like cash, with no central control, no regulator, free for everyone to use?”
In 2008, the answer to the above question was “Bitcoin”. How does it work?
How does anyone buy a Bitcoin? Or any of the other cryptocurrencies?
Now that you understand the basics of cryptocurrency and its blockchain, what else can a blockchain do beyond tracking money?
What is an Initial Coin Offering (ICO)? What companies raised money with that new system? Were they real investments or all scams?
If a startup you like is offering you tokens in its ICO, what questions should you be asking before buying?
Apply your knowledge
Now using all your new knowledge, does Coinbase look like a good investment? Would you buy their equity if given the opportunity? Would you buy their token if they offered one?
Central Banks and Digital Currencies
In the following IMF talk from 2020, the Chair of the Federal Reserve and other central bankers discuss CBDCs, Central Bank Digital Currencies, their inevitability, and their estimated time to launch.
Back to the Table of Contents