BTC Crash Course


This is something I was writing for a client in the past. We ended up going through the first few weeks before deciding not to pursue it further. With that said, I may end up doing a revised version in the future that helps cover things in more detail and a lot more organized. The use of the name Brandon Flynn was for pseudo-anonymity.

Day 1: What is Bitcoin?

Hi there, this is Brandon Flynn! Today I'd like to talk to you about Bitcoin and what it is.

The first question that probably comes to mind when you hear the word “Bitcoin” is “what is that?” It sounds like it may have some value (as it's a coin), but what about the word “bit?” Well, Bitcoin is essentially a digital-only currency that has transactions confirmed through a peer-to-peer system, rather than a centralized one. To help break this down a bit further, let us use a couple of scenarios:

Centralized You go to the bank and decide that you want to withdraw $10 from it. The bank checks their computer system, which contains all of your balances, decides that you have enough money and allows it. They then subtract this amount from their system. It is centralized because everything that happens is only through them, and they have the final say.

Bitcoin (Decentralized) You want to pay someone $10. You make the payment request, which is then broadcast to thousands or millions of others. They look at the public ledger (known as the blockchain) and work together to decide whether or not you truly have that money available. If you do, they will accept your transfer. If not, they won't.

Bitcoin is a way of getting finance control in to the hands of those who have them, while at the same time offering a quick and easy way to transfer them from one person to another.

Today we covered what Bitcoin is. We will continue this discussion in our next portion of the crash course, where we'll look at why Bitcoin is the future and why so many people talk about it.

Until next time!

–Brandon Flynn

Day 2: Why is Bitcoin the Future and Why Are So Many People Talking About it?

Hello again! This is Brandon Flynn, here to talk to you about why Bitcoin is the future and why so many people are talking about it.

Bitcoin is the future because it is decentralized. There is no central authority that determines who can use it, how it can be used, etc. Instead, the people who own them are making all of the decisions. This means there are great benefits that are associated with them, such as:

Anonymous. Bitcoin is not linked to any identity, so how much many coins you hold is known only to yourself. As a result, it is an anonymous currency, being that you only have to volunteer as much information as you want to. This makes things like identity theft impossible.

Unregulated. Unlike fiat, which is regulated by governments and is tracked, Bitcoin is not run by any governments. It can be taken across borders with no problems, and it can be utilized in other countries without the need to use banks to convert from one form of fiat to another. On top of this, the Bitcoins can be taken anywhere you go, since they are electronic. This offers the ultimate security!

Always open. Bitcoin's network is running 24 hours a day, 7 days a week. There is never a time when you can not transfer or receive your coins, regardless of where you are and what time it is. This means transactions can be handled at literally any time, going both from and to your wallet!

Today we covered what makes Bitcoin so important and why it should matter to you. We will continue this discussion in the next section of our crash course, where we'll look at how to obtain Bitcoins.

Until next time!

–Brandon Flynn

Day 3: How Do You Actually Get Bitcoins​

Hello, this is Brandon Flynn again! Today we are going to be talking about how to actually get Bitcoins.

We have covered what Bitcoins are and why they are so great, but now you are likely wondering how you can get them. This is actually pretty easy, and it can be done through Bitcoin exchanges. These exchanges are designed for the purpose of allowing you to deposit fiat to convert to Bitcoins (or go in the opposite direction). All of them are pretty easy to use and understand. The top ones are:

Coinbase – this exchange allows you to quickly link a bank account and do instant Bitcoin purchases, speeding up the process of obtaining coins

Localbitcoins – this exchange is for those who would rather purchase coins in person, although it is a bit more complicated to go through this route. Coins here can be purchased using fiat or things like gift cards and Paypal accounts

Bitstamp – this is a pretty popular exchange that many others piggyback off of for pricing information. While you can not get coins as quickly through here as you can the other two, it is a great alternative

So now you have it! You are able to jump in on the Bitcoin train and pick up your coins (as many or as few as you would like). Next week we will be going over what to do with your Bitcoins once you have purchased them, so be sure to keep following along!

Until next time!

–Brandon Flynn

Day 4: I Got My Bitcoins – Now What?

Hey there, this is Brandon Flynn! We are back to continue our discussion on Bitcoin. In our last look we went over how to purchase the coins. This time we are going to go over your next step, which is to move them in to your control. So let us get started!

I have my coins. What do I do? Now that you have your coins, it is time to get them in to your possession. While allowing an exchange to hold them for you may sound like a great idea (as it makes things easier), it is much safer to hold them on your own. To do this, you are going to need a wallet. Now, for the purpose of wallets, the two I recommend are and Multibit. Here's why: – this is an online wallet (using usernames and passwords) that keeps the control of the coins in your hands. Even if the site was to go down, the coins would still be accessible, so there is no worry about loss when using this site

Multibit – this allows you to store the coins on your own computer, ensuring only you will ever see them and that you maintain full control. The downside to this is that you must keep the wallet on any computer in which you want to send coins from

Which of these paths you take is really up to you. Both of them have their benefits, and both are equally good. With one of the wallets open, you will have your deposit address. On the exchange you purchased coins on, choose to withdraw the coins to that new deposit address, and soon enough you will see them pop up in your wallet!

In our next installment, we are going to be looking at securing your coins, to keep them from being lost or stolen, so be sure to follow along!

See you next time!

–Brandon Flynn

Day 5: It's Time to Secure Your Coins

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