2-Bit Idiots
EP7: Bitcoin Glossary with @_k3tan (frequently used terms explained in plain English)
Oct 10 2021 • 1hr 31m
Show Notes
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
https://twitter.com/FriarHass
www.99bitcoins.com/bitcoin-obituaries
https://thismachinegreens.com/ (Bitcoin and the Future of Clean Energy Documentary)
https://bitcoinbushbash.info/
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.