Bitcoin

Sept 27, 2023   ·  5 min read


I’m writing this article to offer those close to me at least one reference in their personal/social network that understands Bitcoin.

Disclaimer: This is not a recommendation to invest in Bitcoin. I am not a financial advisor, and any actions you might take based on information presented in this article are done so at your own risk. Bitcoin is still considered by many as a speculative asset. As with any investment, DO NOT invest more than you are willing to lose.

Quick facts on getting started – Coinbase and Strike are popular exchanges for acquiring Bitcoin. The BitBox02 is also an optional and popular hardware wallet for safely storing your Bitcoin.

Why should Bitcoin interest you? To start off, watch this brief video...

*Though this video is oriented on the United States, the phenomenon it speaks on applies globally to other countries.

What do you think of that? Is it shocking? Does it seem fair? Well, there's an alternative to this system that I'd like to propose. It's called Bitcoin.

What is Bitcoin?

“Give a man a gun and he'll rob a bank. Give a man a bank and he’ll rob the world”
- Mr. Robot, E1 S2

Bitcoin isn't about getting "rich" like many might think, though early adopters might become so. It's about reform and revolution.

The 2007–2008 financial crisis was the most severe worldwide economic crisis since the Great Depression. Who was to blame? Greed, corruption, and the modern financial system.

Bitcoin's origin story is almost mythical at this point. To keep it simple, Bitcoin was born out of the ashes of the 2008 financial crisis.

Thousands took to the street to protest for financial reform and economic equality in the Fall of 2011. Inspiration and motivation for this event was derived from an increasing awareness of a broken financial system, as was exposed in the aftermath of the 2008 financial crisis.

In the wake of a worldwide financial meltdown, an unknown person (or group) named "Satoshi Nakomoto" published a white paper in October 2008 on a new peer-to-peer electronic cash system. Shortly afterwards, that system was officially launched in January 2009 and has been in operations ever since. That system is Bitcoin.

Bitcoin Whitepaper.pdf

Bitcoin is a store of wealth and currency for our modern day – one that is fair and far more valuable than any before – and it is an alternative to a failing financial system.

How Does Bitcoin Work?

Bitcoin is a large (and sometimes complex) topic. Here is a brief and engaging video from one of my favorite educators that simply and elegantly lays out how Bitcoin works under-the-hood:

How to Acquire Bitcoin?

If you're reading this near the time of this writing, I have good news for you You have the opportunity to be a part of the "Early Adopters" of Bitcoin.

[Work in progress...]

How to Use Bitcoin?

As a quick overview, here is an introductory video to the Lightning Network:

If you would like to learn more, here is the original whitepaper on the Lightning Network:

lightning-network-jacoblyman.com.pdf

We Need Your Help

Bitcoin will continue to become evermore prevalent and pervasive in our world, regardless of anyone's individual convictions. However, the sooner we embrace it and invest in a circular Bitcoin economy, the better off we will all be. 

Where to Learn More

The Bitcoin Standard.pdf

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