Part 2 video

.gitattributes

@@ -1,3 +1,4 @@
 p2p.mp4 filter=lfs diff=lfs merge=lfs -text
 00-intro.mp4 filter=lfs diff=lfs merge=lfs -text
 01-analogies.mp4 filter=lfs diff=lfs merge=lfs -text
+02-principles.mp4 filter=lfs diff=lfs merge=lfs -text

00-intro.md

@@ -1,6 +1,6 @@
 ---
 background: ukulele-1 0.5 fade-in fade-out
-voice: edward
+voice: brian
 size: 720p
 transition: crossfade 0.1
 theme: theme.css

02-principles.md

@@ -1,54 +1,69 @@
 ---
 background: ukulele-1 0.5 fade-in fade-out
-voice: edward
+voice: brian
 size: 720p
 transition: crossfade 0.1
+theme: theme.css
 ---
 
-# The five meme principles of Bitcoin
+```md
-
+# The five principles of Bitcoin
 What to do and what not to do
+```
 
-I picked these memes because they are easy to remember. There are a couple of
+# The five principles of Bitcoin.
-others, but these are the most important for beginngers.
+
+What to do and what not to do.
+
+(pause: 1)
+
+I collected five principles for everyone using Bitcoin, for beginners as well as experts. You may recognise them as memes you've heard before. I chose memes as they are easy to remember. There are more principles that are helpful, however these five are the most important ones.
+
+---
 
-## 1. Bitcoin, not crypto
 
 ```md
-Bitcoin, not crypto
+## 1. Bitcoin, not crypto
 
 Bitcoin is a hard asset, "crypto" isn't.
 ```
 
+(pause: 2)
+
+## 1. Bitcoin, not crypto.
+
 The vision of Bitcoin is to be the best money there can be. This is achieved
 through focus on decentralisation. Without decentralization, someone could
 change the rules, make more Bitcoins out of nothing, redistribute other
-people's Bitcoins. All the other "shitcoins" have a centralized team of people
+people's Bitcoins. All the other "cryptos" have a centralized team of people
 who determine the rules. There have been attempts in the past to change the
 rules of Bitcoin, and they failed. Changes in Bitcoin take many years to
 succeed and are more like optimizations than rule changes.
 
-Altcoins, DeFi, NFTs
+After Bitcoin came out, there was an altcoin bubble, after that DAOs, and now
+NFTs. Many of these are just scams. Some may have interesting technological
+properties or have a narrow specialised uses. If you want to spend money on
+them, you're just gambling.
 
-Some of these "shitcoins" are interesting from techological point of view, but
+---
-they aren't suitable as money. Don't buy them, don't trade them. The best thing
-you can do is to educate yourself more about Bitcoin.
-
-## 2. Not your keys, not your coins
 
 ```md
-Not your keys, not your coins
+## 2. Not your keys, not your coins
 
 Keep your keys yourself, private and secure
 ```
 
+(pause: 2)
+
+## 2. Not your keys, not your coins.
+
 The Bitcoin balances are controlled by cryptographic signatures. This is what
-Bitcoin **is**, a collection of crypographic signatures (and some other
+Bitcoin, is, a collection of crypographic signatures (and some other
 things). In order to transfer Bitcoin, you need to perform this cryptographic
 signature and for that you need to have piece of data called "private key". In
-other words, having the private key **means** having Bitcoin. If you use a
+other words, having the private key, means, having Bitcoin. If you use a
 custodial service (third party) for handling your Bitcoin, like a bank or an
-exchange, it's **they** that have Bitcoins, not you. You're introducing the
+exchange, it's, they, that have Bitcoins, not you. You're introducing the
 trust in this third party into your relationship with Bitcoin. You're
 re-introducing one of the main problems that Bitcoin is solving. For a wide
 number of reasons, the custodian can refuse to do what you tell them. In fact,
@@ -56,31 +71,36 @@ many don't even allow you to withdraw or send Bitcoins on your behalf. They may
 even lose them, as has often happened in the past.
 
 With Bitcoin, you can self-custody. This requires some learning and some
-practice, but you can't get the full benefits without this. You need to keep
+practice, but you can't get the full benefits without self-custody. You need to keep
 your private key private. Anyone who sees it can take your Bitcoins. If you
 show it to somebody, they are gone. The private key needs to be protected
 against thieves, but also against damage. If the private key is damaged and
-it's the only copy, the Bitcoins are gone. Many people have been suffered
+it's the only copy, the Bitcoins are gone. Many people have suffered
 losses by not taking proper care of their private keys, and probably many still
 will.
 
 There is a variety of solutions that help, I'll demonstrate a couple in later
 videos.
 
-## 3. Stacking sats
+---
 
 ```md
-Stacking sats
+## 3. Stacking sats
 
 Buy Bitcoin over long time in small chunks
 ```
 
+(pause: 2)
+
+## 3. Stacking sats.
+
 An easy way to get accustomed with Bitcoin is to accumulate Bitcoin
 periodically for the long run, commonly known as "Dollar Cost Averaging". Pick
 an amount that you feel comfortable with putting aside, such as hundred dollars
 a month. Then, every month, preferably on the same day, buy 100 dollars' worth
-of Bitcoin, or Satoshis (sats). Satoshi is 1/10.000.000 of Bitcoin, the base
+of Bitcoin, or Satoshis (sats). Satoshi is the base unit of Bitcoin, there are
-unit.
+one hundred million Satoshis in one Bitcoin. Most commonlly people DCA every
+month or every week, but some do more frequently.
 
 The advantages of this approach are that it's repetitive, so you'll learn it by
 practice. It's simple, so you don't need to perform a lot of mental work. It
@@ -91,14 +111,20 @@ a mistake (and this can happen for beginners), your losses will be small.
 
 Don't daytrade, you don't understand how trading works, you'll lose money.
 
-## 4. HODL
+---
 
 ```md
-HODL
+## 4. HODL
 
 Keep your Bitcoins and don't sell them in panic or to speculate
 ```
 
+(pause: 2)
+
+## 4. HODL.
+
+Selling your Bitcoins has a broad range of 
+
 - selling has a number of disadvantages, so you should avoid it
 - during downturn, you may lose money
 - selling may incur taxes
@@ -114,14 +140,18 @@ Freeman has no coins.
   directly without sell would work
 - try to get a loan using Bitcoin as a collateral
 
-## 5. Don't trust, verify
+---
 
 ```md
-Don't trust, verify
+## 5. Don't trust, verify
 
 Don't rely on other people's computers
 ```
 
+(pause: 2)
+
+## 5. Don't trust, verify.
+
 - even if you have a private key, that alone doesn't tell you how many Bitcoins
   you have. For this you need to connect to a node and query it. But the node
 could lie to you and trick you.
@@ -129,3 +159,26 @@ could lie to you and trick you.
 - this is a bit more complicated and takes more effort than the other steps,
   and isn't as big a danger, so perhaps it isn't necessary that every person
 runs their own node, but maybe there can be one in a family or something like that
+
+---
+
+```md
+# Summary
+1. Bitcoin, not crypto.
+2. Not your keys, not your coins.
+3. Stacking sats.
+4. HODL.
+5. Don't trust, verify.
+```
+
+(pause: 2)
+
+Summary.
+
+1. Bitcoin, not crypto.
+2. Not your keys, not your coins.
+3. Stacking sats.
+4. HODL.
+5. Don't trust, verify.
+
+(pause: 2)