Understanding Bitcoin in 5 articles

Bitcoin is 17 years old. You’ve probably heard about its price, about mining, “cold” wallets, mysterious phrases you have to write down on a piece of paper. But few resources actually explain what it is, why it works and what it changes, without tipping into propaganda or contempt.

This series is built for that: 5 articles, in order, no prerequisites.

By the end, you’ll be able to hold a serious conversation on the topic, spot obvious scams, and make an informed decision about whether Bitcoin belongs in your portfolio — or not.

This series is not investment advice. See our legal notice and disclaimer.

Origins: what problem does Bitcoin solve?

If you really want to understand Bitcoin, forget its price for five minutes. The interesting question isn’t “how much is it?” — it’s: what problem does it solve? The problem: trust and middlemen When you pay your baker in cash, there’s no one between you. You hand over a note, you get a baguette. No bank, no app, no validation. It’s a peer-to-peer transaction. ...

Under the hood: how does Bitcoin actually work?

In the first article we saw that Bitcoin is a giant ledger shared between thousands of computers. How is this ledger maintained without anyone being able to cheat? That’s what we’ll cover here, no jargon. ...

Why does Bitcoin have value?

It’s the most common question: “OK, but why is it worth anything?” The honest answer: for the same reasons a banknote, an ounce of gold, or a rare Pokémon card is worth something. Because others assign value to it. Let’s see why, in Bitcoin’s case, enough people do. ...

How to buy Bitcoin — and more importantly, how to secure it

This is the most hands-on episode of the series. Buying is easy. Securing is what separates those who keep their bitcoins from those who lose them. Step 1 — Choose a buying platform (CEX) A centralized exchange (CEX) is a company that lets you buy, sell, and store crypto. The equivalent of a stockbroker. ...

Bitcoin: risks, myths and possible futures

We end the series with what’s uncomfortable: the real risks, the stubborn myths, and a few possible futures. No demonizing, no cheerleading. Real risks 1. Volatility Bitcoin has gone through -80% drops several times. It has always recovered, but it can take 2–4 years. Don’t put money into Bitcoin that you might need short-term. ...