Kehlani Blackburn
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Okay, hello to all the readers of BHW. Welcome to my thread on how to get started with—or simply understand—crypto. Given that this place is overflowing with garbage information, I’ve decided to create a series of short posts covering things you really ought to know, so you don’t fall for scams or buy into the smear campaigns against this wonderful digital-economic paradise—because that is exactly what crypto is.
Where do we begin...
Identity: Those of us who defend and promote crypto do so out of a sense of identity—the decentralization of global economic power, or what many refer to as "DeFi" (decentralized finance).
Why all this insistence on this topic? Well, let’s go back to 2009. Bitcoin emerged as an option for having true control over one’s own money—a vision that, at the time, was highly futuristic regarding how systems were managed. This currency introduced a blockchain system, in which the validation of transfers was carried out by contributing computing power, with the reward being a payout in coins; this process became known as "Bitcoin mining." The great advantage here was that every transaction was recorded publicly, and there was no way to commit fraud—unless one controlled more than 50% of the total computing power, a scenario that became literally impossible as the network grew.
Sure, you could read a lot more history to get started with all this, but that’s the briefest introduction I could come up with regarding the "why" behind Bitcoin.
Over time, Bitcoin began to fall behind due to its high transaction costs, leading to the creation of thousands of projects that emerged from it—such as ETH (Ethereum) and many others, which appeared around 2013. Today, ETH and SOL dominate the market in terms of transactions; you can learn more about their respective histories by doing some research. Currently, Bitcoin has largely taken on a different role: that of a store of value, rather than serving primarily as a medium of exchange—which is what Satoshi (its creator) had originally envisioned.
Enough with the history—let’s talk about the present. If you want to get into crypto today, you first need to learn the fundamentals: blockchain, the histories of various cryptocurrencies, market cycles, and coin analysis: But anyway, that’s something I’ll show you in another post.
Where do we begin...
Identity: Those of us who defend and promote crypto do so out of a sense of identity—the decentralization of global economic power, or what many refer to as "DeFi" (decentralized finance).
Why all this insistence on this topic? Well, let’s go back to 2009. Bitcoin emerged as an option for having true control over one’s own money—a vision that, at the time, was highly futuristic regarding how systems were managed. This currency introduced a blockchain system, in which the validation of transfers was carried out by contributing computing power, with the reward being a payout in coins; this process became known as "Bitcoin mining." The great advantage here was that every transaction was recorded publicly, and there was no way to commit fraud—unless one controlled more than 50% of the total computing power, a scenario that became literally impossible as the network grew.
Sure, you could read a lot more history to get started with all this, but that’s the briefest introduction I could come up with regarding the "why" behind Bitcoin.
Over time, Bitcoin began to fall behind due to its high transaction costs, leading to the creation of thousands of projects that emerged from it—such as ETH (Ethereum) and many others, which appeared around 2013. Today, ETH and SOL dominate the market in terms of transactions; you can learn more about their respective histories by doing some research. Currently, Bitcoin has largely taken on a different role: that of a store of value, rather than serving primarily as a medium of exchange—which is what Satoshi (its creator) had originally envisioned.
Enough with the history—let’s talk about the present. If you want to get into crypto today, you first need to learn the fundamentals: blockchain, the histories of various cryptocurrencies, market cycles, and coin analysis: But anyway, that’s something I’ll show you in another post.