Monthly Archives: June 2022

The Basics of Understanding and Using Lightning – Epi-4

The Bitcoin Breakout Posted on by

Today we are going to talk about the Lightning Network which is a “Layer 2” solution for bitcoin transactions.  If that sounds complicated, don’t worry I will help you make sense of it all today.  There is a lot of Fud about Lightning, generally this comes from shitcoiners in general but mostly from Bitcoin Cash holdouts who chant nonsense such as, “Bitcoin Cash is the Real Bitcoin”. The reality is Lightning is exactly the type of solution bitcoin’s creator, Satoshi Nakamoto envisioned for bitcoin and its perceived shortcomings. Nakamoto wrote the following in 2010… “The nature of #Bitcoin is such … Continue reading →

The Basics of Buying, Holding & Sending Bitcoin – Epi-3

The Bitcoin Breakout Posted on by

This is going to be a very basic episode but one I have been asked to do many times.  I am going to talk about how to actually buy, hold, transfer and spend bitcoin using various services.  Today specifically we will talk about four platforms to buy bitcoin one.  Those will be CoinBase, Swan Bitcoin, Strike and CoinEx. I will also cover how to send bitcoin with two of those platforms, those will be Strike and CoinBase.  Further I will cover how to “spend bitcoin” without actually spending your bitcoin when you want to pay merchants that accept bitcoin. Additionally … Continue reading →

The Basics of How Bitcoin Works – Bitcoin Breakout – Epi-2

The Bitcoin Breakout Posted on by

In this episode we discuss how bitcoin actually works, why it works and why it is the hardest money ever created.  We discuss the genesis of bitcoin and its developer, Satoshi.  We discuss common myths from shit coines as to “What Satoshi wanted” and how it is a flawed appeal to authority fallacy. I explain why the claim that mining is “solving complex math problems” is absolutely not what mining is.  How bitcoin is really backed by “security” and why if you don’t have bitcoin in your portfolio right now you are really missing out on an opportunity that will … Continue reading →

Understanding Money – Bitcoin Breakout – Epi-1

The Bitcoin Breakout Posted on by

In the first official episode of The Bitcoin Breakout we discuss…. What is money How does money obey the laws of energy How all money is nothing but an agreement and a ledger No Entry Accounting – cash, gold, etc. Single Entry Accounting – link Double Entry Accounting – link Triple Entry Accounting – link How all Money is useless unless it has something to “account for” How that applies to cryptocurrency but in some ways it has the highest “intrinsic value” of all Monetary Creation, Manipulation and Movement How is US money created Why does our current crazy monetary … Continue reading →