Episode notes
Do you keep hearing about Bitcoin, but have no idea what anyone is talking about? Do bitcoiners use terms that you don’t understand what they mean? Do you feel like you’re asking a ‘stupid question’, so rather than look ‘stupid’ you just don’t ask?
If any of that sounds familiar, this is the pod for you.
We sit down with @_k3tan from @ministryofnodes to break down the most common terms you’ll hear and explain them in plain English.
If you already know 90%, but want a refresher on the remaining 10%, use the timestamps below to skip straight to the thing that’s confusing you.
If after listening, you still feel like you need 1-on-1 help, hop over to www.ministryofnodes.com.au where Ketan offers consulting on self-custody, nodes, privacy, the lightning network and more.
0:45 Introduction to Ketan and Ministry of Nodes
2:03 Purpose of the Glossary
3:16 What is Bitcoin
4:03 How many Bitcoins exist (the ‘hard-cap’)
5:20 The Halving Cycle
6:22 How can all people in the world own Bitcoin (what are Satoshis or ‘Sats’)
7:54 What is Unit Bias
9:04 Why are they called Satoshis, and who is Satoshi Nakamoto
10:45 What is a HODLer and where did the term originate
13:30 What are Altcoins (also referred to as ‘shitcoins’) and how is Bitcoin different
16:45 What are Stablecoins
18:19 What is the Blockchain
21:42 What is FUD
25:45 Why Bitcoin being ‘slow’ is a good thing, and what are confirmations
31:20 How does Bitcoin scale and what is the Lightning Network
37:28 What is Bitcoin Mining and is it still accessible for individuals
42:05 Understanding the Energy FUD (Hass McCook and This Machines Greens. Links below)
43:30 What is a Bitcoin Node and Personal Responsibility
48:20 What is a Bitcoin Address and Backward Compatibility
51:00 What is KYC and why would you want non-KYC Bitcoin
1:01:00 What are Boating Accidents and $5 Wrench Attacks
1:06:24 What are the different ways to Store your Bitcoin (Exchanges, Hot Wallets, Cold Storage, Private Keys/Seed Words), and how to purchase devices safely.
1:18:24 What are Multi-Signature Wallets and Passphrases
1:23:05 What is the Difficulty Adjustment and is it Art
1:27:26 Information about Ministry of Nodes and 1-on-1 consulting with Ketan and his YouTube Channel.
https://www.youtube.com/c/MinistryofNodes
1:28:40 The Bitcoin Bush Bash on 4th and 5th December in Murrurundi (link below)
Pod Shout-outs
https://twitter.com/stephanlivera
www.99bitcoins.com/bitcoin-obituaries
https://thismachinegreens.com/ (Bitcoin and the Future of Clean Energy Documentary)
https://twitter.com/skwp (Inventing Bitcoin by Yan Pritzker)
Get a free copy from Swan Bitcoin
https://www.swanbitcoin.com/StackingHats?gc=yanbook1020&utm_campaign=yanbook1020
www.2bitidiots.com for links to the pod on your favourite app.
