Two incredibly important concepts when making any investment, but especially important when investing in cryptocurrencies (you’ll see why below), are the concepts of ‘asymmetrical odds’ and ‘asymmetrical outcomes’. What does ‘asymmetrical odds’ mean? Asymmetrical odds means a situation in which the probabilities of two events occurring are not equal (not 50%) for each event, i.e. […]
There’s a few very big things in favor of gold as an investment, including the hugely relevant points that gold is finite, rare and has a loooong history of being highly valued. But let’s forget about the positives for a minute, instead, let’s focus solely on all the negatives. Let’s go straight for everything I […]
An ETF (Exchange Traded Fund) is a fund, held by a custodial/manager (such as BlackRock), that can be traded like a stock. A Bitcoin ETF would be a fund that holds Bitcoin and then sells shares in this fund that represent the price of Bitcoin, which can then be traded on traditional stock markets. Someone […]
Every ten minutes Bitcoin adds a new block to its blockchain. Every new block is approximately 1MB in size (meaning every ten minutes the entire blockchain grows by approximately 1MB in overall size). Each of these blocks contains on average roughly 2,000 bitcoin transaction, and every new block that is mined carries a reward of […]
“Can you define ‘blockchain’? I think a few people in this room could define blockchain, but the real challenge would be can you define ‘blockchain’ in such a way that I can’t do search and replace with the word ‘database’ and still make that sentence work.” -Andreas Antonopolous, in the YouTube video ‘Blockchain vs. Bullshit: […]
‘Bitcoin’ (with a capital B) refers to the concept of Bitcoin, i.e. to the technology itself, the protocol, community, or the network. And ‘bitcoin’ (with a lowercase b) refers to bitcoin as a unit of currency. Let’s take a look at some examples of each: Examples of Bitcoin with an uppercase B: “I first heard […]
According to the official Dogecoin website (here’s a link to the relevant page): “Dogecoin… …has a fixed yearly issuance of 5 billion coins.” Taking this figure then, and dividing by 365 days in a year equals approximately 13.7 million new Dogecoins mined/created per day. This sounds like a lot, after all (comparing this to Bitcoin) […]