The Ultimate Bitcoin 101 with Vijay Boyapati
 
 
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“Go and buy some bitcoin, even if it’s a small amount. You don’t have to have a huge amount in your portfolio but you shouldn’t have zero, zero doesn’t make any sense. This is one of the most exciting innovations to money in 1000 years.”
— Vijay Boyapati

SHOW DESCRIPTION

Location: Remotely
Date: Thursday 14th January
Company: Independent
Role: Software Engineer and Author

As we are in another Bitcoin bull market, many new people will be considering investing, but understanding what Bitcoin is and why it is important isn’t straightforward. 

Bitcoin is multifaceted, and the use cases can vary dramatically depending on where you live in the world and your circumstances. 

There is no standard narrative or way of explaining Bitcoin; for example, it is a medium of exchange, a way to bypass government and as an inflation hedge. Others are investing in Bitcoin to speculate against the net benefit of all use cases.

To help answer some of the most common questions and lay to bed some of the common misconceptions, I talk to software engineer and author, Vijay Boyapati for the ultimate Bitcoin 101.

TIMESTAMPS

00:04:10: Introductions
00:05:17: What is Bitcoin?
00:06:55: What are sats?
00:08:43: Permissionless transfer of funds
00:11:00: Hold your savings in your pocket
00:12:38: Losing confidence in the financial system
00:14:27: "The Bullish Case for Bitcoin"
00:15:14: The four properties of Bitcoin
00:17:16: Bitcoin's value proposition
00:18:57: Inflation explained
00:20:53: Bitcoin's weaknesses
00:23:05: Could Bitcoin destroy other currencies?
00:24:12: Convincing the doubters
00:27:20: Is Bitcoin now too expensive?
00:29:15: Volatility
00:31:26: Saving with Bitcoin
00:32:29: Bitcoin vs altcoins
00:34:39: How does Bitcoin actually work?
00:36:58: Satoshi Nakamoto
00:38:39: Who runs Bitcoin?
00:42:41: Can Bitcoin fail?
00:44:06: How to buy Bitcoin
00:44:58: How to spend Bitcoin
00:46:04: Security and hardware wallets
00:48:09: Scarcity and the 21 million cap
00:51:25: Mining
00:52:38: Decentralisation
00:53:23: The blockchain
00:54:16: Censorship resistance
00:55:02: Lightning Network
00:57:24: Risk of catastrophic bugs
00:58:35: Regulatory risks
01:02:02: Risk of total loss
01:04:33: The speed of Bitcoin transactions
01:05:58: Bitcoin vs the environment
01:08:01: Is Bitcoin a criminal money?
01:09:00: Bitcoin - why bother?
01:11:46: Final comments

 

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SHOW NOTES

PodcastPeter McCormack