Seven Effective Resources to Understand Bitcoin and Cryptocurrencies

In this fast-paced world, information is constantly thrown at you. The task therefore is to find the gold nuggets in the piles of dirt. The same goes for information regarding Bitcoin and its neighbouring cryptocurrencies. With people realizing more than ever before that there is an alternative to traditional fiat currencies, education on Bitcoin and cryptocurrency has been on the rise. Thankfully, there are various places where credible information can be found, whether you are new to the cryptocurrency world or an advanced user.

Here are seven effective resources that can help you on your journey through this highly progressive space!

YouTube Channels

99Bitcoins

99Bitcoins is a YouTube channel whose purpose is to translate Bitcoin into plain English for the everyday person. The language used is easy to understand since they omit complex technical words. They also discuss how bitcoin is different to traditional mediums of exchange such as gold to modern mediums like fiat currency. This YouTube channel also discusses concepts like Bitcoin wallets, Bitcoin trading, and Bitcoin mining. Their YouTube video ‘What is Bitcoin? Bitcoin Explained Simply for Dummies’ breaks down the history of money, how we have progressed towards digital money, and how Bitcoin is at the forefront of this transformation. If you want updates on Bitcoin news, 99Bitcoins also uploads weekly videos on important news in the cryptocurrency space.

CuriousInventor

If you are looking for a more technical source related to Bitcoin, CuriousInventor on YouTube is where you need to be! There are a few Bitcoin videos as detailed as ‘How to Buy and Store Bitcoin’ and ‘How Bitcoin Works in 5 Minutes’. The YouTube page has been inactive for the last two years, but the fundamental information about Bitcoin and cryptocurrencies is available here.

Books

“The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order” by Paul Vigna

“The Age of Cryptocurrency” by Paul Vigna and Michael J. Casey is a cohesive, non-technical, introduction to Bitcoin and blockchain technology. Due to its age, it covers only the period from the 1990s up through 2014. This book is still highly informative, starting with the inception of trading materials to the use, implication, and ramifications of modern fiat currency and new technology in the social and political realms. Keep in mind, this book was written before the bull market of 2017 that brought Bitcoin value to nearly $20,000. The authors also keep a neutral perspective regarding cryptocurrency by pointing out both the advantages and disadvantages of the technology. If you are looking for a book without bias that provides insight into what Bitcoin is and what it can achieve, give this a read.

“The Bitcoin Standard: The Decentralized Alternative to Central Banking” by Saifedean Ammous

‘The Bitcoin Standard’ is an entertaining and well-written book that discusses the idea of Bitcoin as ‘digital gold’. The history of money is discussed not in theory but through Ammous’ educational background. There are also key points regarding the economic crimes of past and present, particularly with regards to fiat currency, governments, and the central banking system. Ammous points out how the highly regarded gold standard was better than the fiat currency system we currently have today, and that the ‘Bitcoin standard’ will be its digital reincarnation. The comparison between the extended period of prosperity under the gold standard and the ‘boom and bust’ cycle of the era of fiat currencies also brings to light the significance of how the fundamentals of a monetary system can affect the economy in all areas. The scalability of Bitcoin through real-world use is also a topic of interest, as it will further your understanding of how useful Bitcoin is, not only to individual users but to the economy that future generations will be living in.

Podcasts & News Sources

What Bitcoin Did

This podcast (which is available on various platforms) is hosted by Peter McCormack, who leads discussions with some of the greatest minds in the cryptocurrency space. While they focus on Bitcoin, they do also discuss other cryptocurrencies, various events, and other topics. There are over 200 episodes of information with varying levels of information. This channel is fairly important as you can listen to a plethora of ideas, concepts, and interpretations of the cryptocurrency space regarding topics such as privacy, investment, and adoption. This podcast also has a YouTube channel for those who prefer videos over podcasts. One recommendation would be the ‘The Beginner’s Guide to Bitcoin’ playlist that they have on their YouTube channel.

Cointelegraph.com

Since 2013, Cointelegraph has been a leading independent digital media resource covering daily news on blockchain technology, crypto assets, and emerging fintech trends. Readers can benefit from their unbiased news, opinion pieces, and global technological news that educates both novice and advanced traders.

Coindesk.com

Coindesk is another source that educates its readers on how cryptocurrencies and digital assets are contributing to the evolution of the global financial system. There is a high level of information on this website that can help update and teach readers, especially in its ‘Learn’ section. Here you can learn about various cryptocurrency assets as well as the significant people involved in this space.

Final Word

There are a lot more resources that can help you keep up to date with the constantly updating and exciting information around the globe. If there are YouTube channels, books, podcasts, or websites that you deem valuable that weren’t on this list, share them with a comment below for others to enjoy!

Written by bitMachina

bitMachina enables Ottawa residents to purchase and sell Bitcoin at their local retailers. With 13 locations spread out between the East to the West End of Ottawa, bitMachina is the perfect option for people seeking to buy virtual currencies in physical stores.

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