What does "HODL" Mean? - Crypto Whiteboard 101🍎🎓
In my "Crypto Whiteboard 101" series, I explain the most important cryptocurrency topics in less than two minutes. In today's post, we answer the question "What does it mean to HODL cryptocurrency?"
https://www.youtube.com/watch?v=7pEa13vMc3w
HODL is a cryptocurrency acronym that means Hold on For Dear Life. People who "HODL" a cryptocurrency generally have a very long term outlook and want to hold onto the cryptocurrency regardless of short term market fluctuations. This stands in contrast to someone that frequently trades in and out of positions or someone who sells cryptocurrency at the first sight of bad news. Someone who "HODLs" cryptocurrency is likely to agree with the phrase "the trend is your friend" and point out that although cryptocurrency does have short term volatility, the long term trend has been quite bullish. #hodl #btc #crypto
What Are Governance Tokens - Crypto Whiteboard 101
https://open.lbry.com/@ThePartTimeEconomist:6/governance-token:6?r=ZXm1XjaiyrER3aYoGiZsAVsyssYCuR3F
The recent airdrop of the UNI token shows the growing popularity of DeFi governance tokens. In the past, it seemed like DeFi was an "advanced" level crypto topic, but the sudden expansion of DeFi protocols and governance tokens means that even novice crypto users may interact with DeFi, so its important to know the basics of how DeFi governance tokens work. In this video, I'd like to describe the dual nature of governance tokens as both an investment/asset and an actual voting/governance mechanism.
Pi Network Overview - Fan Request!
https://open.lbry.com/@ThePartTimeEconomist:6/Pi-Cryptocurrency:e?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
The official page of the Pi Network states that “Mining crypto is hard, investing in crypto is risky, and too many of us are left out of the cryptocurrency revolution.” Unfortunately, I have to agree with them. Although cryptocurrencies were intended to promote decentralization and democratization of the monetary supply, the immense amount of computational power needed to mine the vast majority of cryptocurrencies has led to a large degree of centralization. The Pi cryptocurrency hopes to change this by introducing the world's first digital currency that can be mined on a phone. In this video, we'll take a look at the goals of the Pi cryptocurrency, and I'll give some of my thoughts on the project.
Non-Fungible Tokens Explained
https://youtu.be/5eU4tddd3EM
I remember when I first started learning about cryptocurrency I was quite confused by the concept of a “non-fungible” token. Although the wording sounds fancy, the actual concept behind a non-fungible token is actually quite simple and straightforward. Non-fungible tokens leverage blockchain technology to convey true ownership of digital assets. In this article, we will learn what non-fungible tokens are and some of the advantages that they have.
What is an "Airdrop" ? - Crypto Whiteboard 101
https://open.lbry.com/@ThePartTimeEconomist:6/crypto-airdrop:b?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
A cryptocurrency “airdrop” is a promotional tool in which crypto teams give users crypto in exchange for completing certain tasks. One of the most important lessons that my grandpa taught me is there is no such thing as a truly free lunch. Although users don't “pay” for cryptocurrency in the sense of spending cash, users have to pay for this cryptocurrency by completing various social media tasks such as following a social media handle, re-sharing an article, registering on an exchange, or tagging a certain number of people. In this article, I'd like to discuss the basics of cryptocurrency airdrops including what they are, how they work, and a few of the different ways in which they are implemented.
Celo -The Cellphone Cryptocurrency Payment System
https://open.lbry.com/@ThePartTimeEconomist:6/celo:2?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
Celo is a cryptocurrency that wants to make financial services available to anyone that has a mobile phone. One of Celo’s main goals is to make it possible to send cryptocurrency to anyone simply by using their cell phone number. In theory, this would make using cryptocurrency much easier and accessible to a wider range of people and is an exciting prospect. As exciting as this concept is, it's also important to be aware of the potential drawbacks and risks of the system. In this video, we will briefly discuss the Celo cryptocurrency, how it functions, some of its potential shortcomings, and compare it to other payment methods.
"Hard" and "Soft" Forks Explained - Crypto Whiteboard 101
https://open.lbry.com/@ThePartTimeEconomist:6/fork:5?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
As a blockchain grows and develops, it sometimes needs upgraded to better fulfill its function. Sometimes, this upgrade can be implemented with very little disturbance to the network, but other times, the proposed upgrades are so controversial that they cause the blockchain to split into two separate chains. In this article, we will learn the basics about cryptocurrency forks: what they are, why they happen, and the difference between a hard and a soft fork.
Overview of "Consensus" - Crypto Whiteboard 101
https://open.lbry.com/@ThePartTimeEconomist:6/proof-of-work-vs-proof-of-stake:7?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
I this video, we will take a look at "consensus", which is the process by which cryptocurrency networks accept new transactions and agree upon the state of the blockchain. We will also briefly discuss the difference between the two leading consensus mechanisms: proof of work and proof of stake.
"Pseudonymous" Cryptocurrencies Explained - Crypto Whiteboard 101
https://open.lbry.com/@ThePartTimeEconomist:6/anonymous-cryptocurrency:8?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
The myth that cryptocurrencies are "untraceable" was born during the early days of cryptocurrency, but unfortunately persists today. In today's article , I'd like to clear up some of the confusion and explain the reality of "pseudonymous" cryptocurrencies.
Cryptocurrency Tokens vs Coins - Crypto Whiteboard 101
https://open.lbry.com/@ThePartTimeEconomist:6/cryptocurrency-token:a?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
A cryptocurrency coin has its own blockchain whereas a token runs on top of an already existing blockchain. In this video, I'll provide a beginner's level introduction the the difference between coins and tokens.
What is Ethereum "Gas" - Crypto Whiteboard 101
https://open.lbry.com/@ThePartTimeEconomist:6/eth-gas:e?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
"Gas" is a term that is used to describe the amount of computational power needed to execute transactions on the Ethereum blockchain. However, the total cost of a transaction depends on both the gas amount and the gas price (gwei) which can sometimes be confusing for beginners. In this video, I'll explain the basics of "gas" in less than two minutes.
Different Types of Cryptocurrency Wallets Explained - Crypto Whiteboard 101
Cryptocurrency "wallets" are nothing more than a simple way of storing and managing the public and private keys that allow you to access funds on the blockchain. In this video, we will learn about the various types of cryptocurrency wallets available including hardware wallets, paper wallets, mobile wallets, and we will also learn the difference between a "hot" and "cold" wallet.
https://open.lbry.com/@ThePartTimeEconomist:6/cryptocurrency-wallet:d?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
What Are Cryptocurrency "Keys" ? - Crypto Whiteboard 101
One of the first things that cryptocurrency beginners hear is the phrase "not your keys, not your coins" but what are cryptocurrency keys anyway? In less than two minutes, I'll teach you the basics of what cryptocurrency "keys" are and how they work.
https://open.lbry.com/@ThePartTimeEconomist:6/cryptocurrency-keys:6?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
Cryptocurrency isn't a physical object, so we can't simply hand a Bitcoin to someone. Rather, cryptocurrencies exist as electronic entries on a digital database; in order to transfer value between users on the blockchain, we need to know two things.
1st. We need to know where we are sending the funds
2nd. We need a way of making sure that only the right people can sends funds from the accounts that they actually own.
Both of those functions are made possible by a combination of public and private keys. The public key (sometimes called an address) is like your mailing address. Anyone who has your public address can mail you a package or letter. Likewise, you can post your public address wherever you like, and people can use this to send you cryptocurrency, but they CAN'T use your public address to take your money from your account.
The private key is like the key that you use to get in your house. Whereas anyone can send you mail (or crypto) through your public address, if you want to get into the account and take something out, you will need the private key. The private key allows you to send funds to other people while also making it very difficult for someone to access your funds simply by guessing your password.
However, simply holding a private or public key isn't enough. Most public/private keys are a long string of characters that aren't usable by humans. Take this Ethereum public key 0x49B2bFd6f951689e5dAe0C63C21532d673D66844 as an example . Moreover, simply holding a public key isn't enough to move funds on the blockchain. In order to actually use the public and private keys simply, developers have created cryptocurrency "wallets" which are software programs that manage your public and private keys and provide a simple "human-friendly" way to interact with the blockchain.
What are wallets and how do they work? Check back in the next article where I will explain the basics of cryptocurrency wallets in less than two minutes.
What Is Cryptocurrency? - Crypto Whiteboard 101
Those of you who have followed my writing for any length of time know that I tend to be very long-winded sometimes. Although I do like writing longer, more in depth articles, I wanted to change things up a little bit and write some shorter, more concise articles. As I was thinking about this, I decided to create a new crypto series called "Crypto Whiteboard 101."
https://open.lbry.com/@ThePartTimeEconomist:6/cryptocurrency-101:1?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
Crypto Whiteboard 101 is a series in which I answer basic and beginner level cryptocurrency questions in less than two minutes. the goal is to focus on providing short, yet meaningful answers to the questions that people have about crypto without getting bogged down in to may details. The logical place to start a cryptocurrency series is by answering the basic question of "What is a cryptocurrency?"
How to DeFi - CoinGeko Book Review
https://open.lbry.com/@ThePartTimeEconomist:6/how-to-defi:4?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
"How To DeFi" is a comprehensive and authoritative book that will give beginners (and advanced users) the solid foundation that they need to understand and interact with the DeFi and cryptocurrency ecosystem. In total, the book is 212 pages (on PDF) and contains 14 chapters that cover the most important concepts that readers need to understand so they don't get lost in DeFi.
More COVID Click Bait - Cashless Society Edition
https://open.lbry.com/@ThePartTimeEconomist:6/cashless-society:9?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr
With the Coronavirus making a comeback, many merchants are refusing to accept cash in payment for goods and services. Whereas some see this as a common sense safety measure, others see it as part of a darker plot to usher in a cashless society, lock down economic activity, and deprive individuals of their rights. One such Facebook post was sent to me by a fan, and I'd like to take this time to make a point by point analysis of the post and offer my thoughts on the matter.
Refund Token Profitability Analysis
https://www.youtube.com/watch?v=wXzBzQR8qIU
After holding the Refund Token for several weeks, I received my first dividend payment. In this video, I will discuss the returns from the Refund Token, both in terms of price appreciation and dividend yield. I will also compare the returns from the Refund Token with several other investments to show a performance benchmark.
@The.Part.Time.Economist
