We’re all about creating new introductory courses here at Wall Street Survivor. One of the next up on our list is to demystify the complex and intimidating world of cryptocurrency, namely Bitcoin.
Our writing team puts a great deal of time and effort into gathering the best possible information on each investing and personal finance topic our courses cover. This time we thought, “Hey! Why not before the course is even up, we let you in on all that research we’re doing!”
So that’s exactly what we’ve done. Below is a compiled list of all the articles, videos and graphics we’ve found that best explain Bitcoin and cryptocurrency as a whole to a beginner.
Bitcoin this… Bitcoin that…
“It’s going to revolutionize our economy!”
“It’s putting our financial future in the gutter!”
Bitcoin is all people are talking about these days, mainly because no one really knows where it’s going to go. Rightly so… In 2013, we saw Bitcoin shoot up from $10 to $1200 only to crash down to $500.
And a big part of that is….so many of us don’t really know WHAT it is in the first place. It is still a very new topic for most. I mean even as I type this article up, a red line of incorrectness is still finding its way under the words “Bitcoin” and “cryptocurrency”.
But it seems as though that’s all going to change, as this idea of a digital form of currency isn’t going away anytime soon. So you better take some time to at least grasp the basics of what it’s all about…
Getting to Know Bitcoin
Meet Bitcoin. The first cryptocurrency (or digital money) to really take off. People have been trying to create a form of digital currency that works for a long long time. But Bitcoin was the first to solve the many problems associated with having money that lives in 0′s and 1′s.
It’s a rather complicated system, so let’s take baby steps. Here’s a pretty awesome infographic by Visualistan on Bitcoin that even your grandparents could understand:
Now that you’ve hopefully began to create a mental map for yourself of what Bitcoin actually is, let’s go a little deeper into the subject with some written word.
The best Bitcoin articles from around the web
Type Bitcoin into Google. You’ll get a TON of results. I mean, you’d get a ton of results if you Google anything. But the amount of discussion around Bitcoin has been insanely high over the last year or so. Just check out the popularity chart of “Bitcoin” searches:
We’ve gone ahead and scoured through every last one of these search results (OK…maybe we missed a few) to unearth the best, most comprehensive explanatory articles on Bitcoin. Here’s our list of favourites:
In case you’re more into comics, here’s The New York Times comic on How to Explain Bitcoin to Your Mom:
The best Bitcoin videos from around the web
Not big on the written word? No worries. We got a bunch of awesome explanatory videos on Bitcoin for you to watch too…
Bitcoin Made Simple
Bitcoin for Dummies
Conan O’Brien helps us “understand” Bitcoin
Getting involved in the Bitcoin community
If you like what you’ve read/watched/listened to/thought bout thus far, than perhaps Bitcoin investing and/or mining is for you. Here are some next steps you can take to launch your Bitcoin career…
/r/Bitcoin/: The Bitcoin subreddit is a huge community of Bitcoin enthusiasts talking about the latest news and events surrounding everyone’s favourite cryptocurrency.
BitcoinTalk: THE Bitcoin forum! If the Bitcoin subreddit just ain’t cutting it for you, join in on the deep coversation taking place on Bitcointalk.org.
BitcoinWisdom: Start actually watching the volatile price movements of Bitcoin at Bitcoinwsdom.com.
BitStamp: Ready to make the jump? Bitstamp.net is a wonderful to place to buy your first Bitcoins.
CoinMap: This world map shows you where those new Bitcoins of yours are accepted.
CoinWarz: Oh..by the way! Bitcoin is the most popular, but there are TONS of new cryptocurrencies popping up everywhere. Coinwarz.com has a pretty extensive list of the types of coins being mined out there.
Now you’ve got a pretty deep understanding of what Bitcoin is and how it works. Once you become the cryptocurrency pro you are destined to be, leave all this behind and follow @jasperhamill ‘s steps to Starting Your Own Currency!