Easing into Crypto

Easing into Crypto

By Michael CalozEducation
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Easing into Crypto episodes

  • Episode 8: Coins vs. tokens, and some real Ethereum use cases—oracles and DEX’s
    - What can Ethereum actually do beyond just act as money?
    - Summarizing five major categories of Ethereum dapps (decentralized apps)
    - Ethereum use case #1: oracles, for pulling in information from outside the blockchain. And, how oracles know which sources to trust, and how that's very different from traditional apps
    - The difference between tokens and coins, ERC-20 tokens, and wrapping your head around the fact that Ethereum tokens are both cryptocurrencies as well as the actual things that keep apps and protocols running
    - Ethereum use case #2: DEX's, for exchanging one coin or token for another. And, the difference between DEX's and CEX's

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    The corresponding blog post with links and images:

    https://www.michaelcaloz.com/2021/06/12/cryptocurrency-part-8-coins-vs-tokens-and-some-real-ethereum-use-cases-oracles-and-dexs/
    24 min
  • Episode 7: Intro to Ethereum, smart contracts, dapps, gas, Proof of Stake, and Ethereum 2.0
    Recommendation: I notice that a lot of people skip straight to this episode. Even though I agree that Ethereum is more interesting than Bitcoin, I want to encourage you to listen to all the episodes in order—the earlier Bitcoin-focused episodes explain a lot of key concepts that apply to crypto in general, and you'll miss that important foundation if you start here instead.

    - What is Ethereum? If Bitcoin is like digital gold, Ethereum (the #2 most popular cryptocurrency) is like programmable money and the foundation of a vast ecosystem of apps
    - Smart contracts remove the need for a third party like a bank or lawyer
    - You can buy a huge range of goods and services with Ethereum
    - The benefits of Ethereum dapps over traditional apps, and how dapps actually run
    - What gas is and how the community has been addressing the high gas fee problem
    - The transition to Ethereum 2.0 and Proof of Stake, which will make Ethereum use 100x less energy (i.e., it will address the environmental concerns people have with Bitcoin)

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    Update: In this episode, I recommended the website gasnow.org. Sadly, it had been based in China and was shut down in October 2021 due to China's crypto ban. Instead, I now recommend https://etherscan.io/gastracker and https://ethereumprice.org/gas/.

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    The corresponding blog post with links and images:

    https://www.michaelcaloz.com/2021/06/09/ethereum-the-2-most-popular-cryptocurrency-and-the-one-im-most-excited-about-smart-contracts-dapps-gas-and-the-high-gas-fee-problem-proof-of-stake-pos-and-ethereum-2-0/
    22 min
  • Episode 6: Overview of wallet types, specific recommendations, security, and hardware wallets
    - All the different categories of wallet (exchange, memorized, paper, browser extension, web-based, app-based, software-based, node-based, hardware); plus, some details that will help you better understand how crypto works in general
    - What I personally use
    - How to actually get cryptocurrency into a wallet
    - My specific wallet recommendations for different types of people
    - Why it might be worth spending the extra time and money on a hardware wallet
    - How to stay safe

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    The corresponding blog post with links and images:

    https://www.michaelcaloz.com/2021/05/12/cryptocurrency-part-6-overview-of-the-different-types-of-wallets-which-one-is-best-for-you-what-to-be-careful-of-and-why-a-hardware-wallet-might-be-worth-the-investment/
    22 min
  • Episode 5: How to store crypto, wallets, cryptography, identity, and the future of democracy
    - How to actually store and use crypto coins
    - What wallets really are and how they work
    - A basic cryptography lesson
    - Public keys, private keys, hashing, and cryptographic signing
    - Blockchain tech is trustless, and could lead to much better identity management
    - The "pseudonymous economy," cancel culture, doxing, and protection from oppression
    - Fighting disinformation and deepfakes

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    The corresponding blog post with links and images:

    https://www.michaelcaloz.com/2021/05/04/easing-into-crypto-part-5-how-to-store-and-use-cryptocurrency-some-basic-cryptography-how-wallets-work-identity-management-and-the-future-of-democracy/
    23 min
  • Episode 4: How crypto offers autonomy, why it can’t be stopped, and the value of decentralization
    - Why blockchain records can't be falsified, and how crypto could give you autonomy and protect you from authoritarian regimes and catastrophe
    - Why crypto can't just be shut down, even by the US government; and, how traditional services, including literally any website, *can* be shut down
    - Why the US government should be careful of over-regulating crypto
    - Decentralization means power to the workers instead of executives; and, it gives freedom to content creators and influencers
    - Is crypto *really* secure? Can you trust it? What about an attack from China?

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    The corresponding blog post with links and images:

    https://www.michaelcaloz.com/2021/05/06/cryptocurrency-part-4-how-crypto-offers-autonomy-why-it-cant-be-stopped-and-the-value-of-decentralization/
    19 min
  • Episode 3: Bitcoin's environmental impact, who runs the blockchain, and Bitcoin mining
    - How the blockchain keeps running 24/7 (who pays for all this)
    - What blockchain nodes do
    - The incentive to turn your computer into a Bitcoin node
    - Where new Bitcoins come from (i.e., how mining works)
    - Consequences of mining: high barrier to entry, negative environmental impact, human rights abuses, disproportionate resources
    - How the crypto community is solving those issues
    - What happens once all coins have been mined

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    The corresponding blog post with links and images:

    https://www.michaelcaloz.com/2021/05/04/cryptocurrency-part-3-how-the-blockchain-keeps-running-where-new-bitcoins-come-from-i-e-how-mining-works-and-concerns-about-bitcoins-environmental-impact/
    19 min
  • Episode 2: How crypto actually works, why Bitcoin is valuable (even if it’s just "made up!"), blockchains
    - Why money is useful at the foundational level, and the characteristics of a currency
    - Why the price of Bitcoin (and Dogecoin!) keeps going up
    - Explanation of ledgers and blockchains
    - How you would actually buy something in Bitcoin
    - Where all this might lead in the future

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    The corresponding blog post with links and images:

    https://www.michaelcaloz.com/2021/05/04/cryptocurrency-part-2-how-crypto-actually-works-why-bitcoin-is-valuable-even-if-its-just-made-up-and-what-you-should-know-about-blockchains-the-tech-behind-them-and-how-they-could-influen/
    19 min
  • Episode 1: Why should I care? What’s in it for me? Why is crypto important (it's not just about making $$$)?
    - Why crypto is interesting
    - Feeling like you're too late to the party
    - 10 reasons crypto is useful
    - Why Bitcoin is important for social justice

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    The corresponding blog post with links and images:

    https://www.michaelcaloz.com/2021/04/11/cryptocurrency-part-1-why-should-i-care-whats-in-it-for-me-why-is-crypto-important-its-about-a-lot-more-than-just-making-money/

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    Note (from after I completed this episode): I want to take responsibility here for a misstep I believe I made: I used some lengthy quotes from two of Alex Gladstein's excellent articles (on financial privilege and human rights) in a less-than-ideal way. Although I was clear in the episode when I was quoting another article (and that the articles were linked in my blog post), I realize in retrospect that it doesn't feel right to me that I didn't name the author on-air (since Alex deserves credit for his writing). Also, since I had felt that his articles made such important points, I quoted from them at greater length than I think is appropriate for a quote. So, I want to apologize for that and share the two links right here:
    https://bitcoinmagazine.com/culture/check-your-financial-privilege
    https://reason.com/video/2021/02/05/bitcoin-is-protecting-human-rights-around-the-world/
    27 min
  • Episode 0: Series overview, who this is for, why you might consider listening to me, being careful
    Warning from future-Michael:

    Hi there! Thanks so much for starting my crypto series.

    This first episode was created back around October, 2021. I’m writing this addendum in October, 2022.

    I still very much believe in the future of crypto, despite the current market slump. But my warning to you is this: The crypto world changes very quickly. Innovation is extremely quick.

    So, please keep that in mind as you listen to this series. Most of what I said a year ago is still relevant and true (especially the more philosophical and foundational ideas behind how crypto works and why it’s useful).

    But, once I start getting into crypto investing later in this series, I encourage you to be warier. Some of the strategies and coins/tokens I recommend will still make sense, and others will be totally out of date. So, please do your own research and don’t just blindly replicate the strategies I was using months ago.

    Thanks for reading, and I wish you luck on your crypto journey 🙂

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    - Why this information might be useful for almost anyone
    - My background in the tech industry
    - How easy it is to lose money in crypto, and why you need to be careful
    - Overview of how this series is organized

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    The corresponding blog post with links and images:

    https://www.michaelcaloz.com/2021/06/15/cryptocurrency-part-0-overview-of-my-series-who-this-is-for-why-you-might-consider-listening-to-me-and-how-easy-it-is-to-think-you-understand-crypto-when-you-actually-dont/
    17 min

About Easing into Crypto

From the publisher's feed

Cryptocurrency is about a lot more than just making money. We'll get there in later episodes, but first, I want to help you understand how crypto actually works (including how it will transform…