Categories
Cryptocurrency Basics

Bitcoin Blockchain Software – Understanding Wallets

There are multiple ways of getting a wallet. The main way I suggest is you just go and create an account somewhere, were somebody can send you bitcoin. You can create an account at Coinbases, but Coinbase is in exchange. What did I say about exchanges?Continue readingBitcoin Blockchain Software – Understanding Wallets

Categories
Cryptocurrency Basics

Bitcoin Blockchain Software 2.4a

Editor’s NoteThe following transcript was taken from one of Kelly’s live classes for tax professionals. SLIDE 48 Let’s get into the technology and explore the…Continue readingBitcoin Blockchain Software 2.4a

Categories
Cryptocurrency Basics

What is Bitcoin? 2.3

Here’s the big kahuna. I’m going to tell you what my definition of Bitcoin is and then go into the details. Bitcoin is a cryptocurrency that the government calls virtual currency, but many users call it peer-to-peer digital money.Continue readingWhat is Bitcoin? 2.3

Categories
Cryptocurrency Basics

Brief History of Cryptography 2.2

Let’s talk briefly about the history of cryptography. The word of cryptography comes from the Greek words kryptos, meaning hidden, and graphein meaning writing. Ancient cryptography was the study of hidden writing.Continue readingBrief History of Cryptography 2.2

Categories
Cryptocurrency Basics

Bitcoin’s Dual Personality 2.1

Remember the 2008 financial crisis really opened a lot of people’s eyes to decades of problems within the existing financial system. In the 70s we had stagflation and the end of the gold standard and the birth of fiat money.Continue readingBitcoin’s Dual Personality 2.1

Categories
Cryptocurrency Basics

Digital Currency vs Virtual Currency 1.3

Earlier this year I was so grateful that FinCEN came out with new guidance, which was a summary of all their other guidance, and it’s only 30 pages. I highly recommend it. https://bit.ly/2oem0xeContinue readingDigital Currency vs Virtual Currency 1.3

Categories
Cryptocurrency Basics

A Brief History of Money 1.2

What is money and how would we recognize it? Is bitcoin money? This is one of my heroes, Andreas Antonopoulos. He is a developer who started working on bitcoin early on.Continue readingA Brief History of Money 1.2

Categories
Cryptocurrency Basics

Bitcoin Basics 1.1

In January 2011, the price of a bitcoin was about 30 cents. Don’t you wish you had bought 50 bucks worth back then? In June 2015, when I jumped in, it was about $250.Continue readingBitcoin Basics 1.1

Categories
Cryptocurrency Basics

Intro to Cryptocurrency 1.0

Let me ask you a question. How many of you right now have played with Bitcoin, have a friend who’s played with Bitcoin, or a client who’s played with Bitcoin? At least 75% of you.Continue readingIntro to Cryptocurrency 1.0

Categories
Cryptocurrency Basics

Rapidly evolving digital asset: crypto.

In the approximately dozen years of cryptocurrency trading, the IRS has been working through how to classify it and obtain its pound of flesh. The…Continue readingRapidly evolving digital asset: crypto.