ELI12 crypto - part 0

This next set of newsletters will be what I’m calling an “Explain Like I’m 12” (ELI12) approach to learning about cryptocurrency. ELI12 requires building up concepts from primitives a 12 year old would already be familiar with, then applying them to the world of crypto.

My goal for this series is to help answer questions such as:

• What is a “computer”? (OK, maybe not that basic)

• What is a blockchain?

• How does Bitcoin work?

• What are exchanges like Coinbase and Kraken?

• Bitcoin is $52,000! Do I have to buy a whole one?

• How safe is all this crypto stuff? Can’t I get hacked?

• I’ve heard bitcoin is destroying the planet. Is that true?

• I’ve heard of Ethereum and Dogecoin. What are some of the differences between these cryptocurrencies?

• How can I get started? Is it too late?

I will also share tales of regret, like the time I spent $67,000 in today dollars for a $1,000 Amazon gift card, or the $3,000 pizza (though to be fair, it came with garlic butter dipping sauce and a spice packet).

It’s my hope that by the end of the series you’re able to understand how crypto works at a very high level, and will have a foundation for further reading elsewhere.

If you know someone who might be interested, please invite them to visit bbhart.substack.com — or forward them this email — so they don’t miss anything.