Update

analogies.md

@@ -1,7 +1,31 @@
-Bitcoin is like digital money
+# Analogies to help understand bitcoin
-Bitcoin is like digital gold
+
-Bitcoin is like brain
+## Bitcoin is like digital money
-Bitcoin is like a central bank
+
-Bitcoin is like the internet
+This is the most obivious analogy. Bitcoin is a form of value that can is
-Bitcoin is like an auditor
+identified by its digital properties.
-Bitcoin is like the economy
+
+## Bitcoin is like digital gold
+
+Another often used analogy. Bitcoin is used as a store of value. It is
+scarce. It is expensive to produce. It is a commodity, what is Bitcoin isn't
+determined by a law or by a contractual arrangement.
+
+## Bitcoin is like brain
+
+Similarly as a brain consists of cells, Bitcoin consists of nodes (computers).
+The functionality of the brain isn't located in any single cell, but in the
+cells working together. Bitcoin's nodes also work together to form Bitcoin.
+
+## Bitcoin is like a central bank
+
+
+
+## Bitcoin is like the internet
+
+
+
+## Bitcoin is like an auditor
+
+## Bitcoin is like the economy
+

faq.md

@@ -1,9 +1,14 @@
 Why Bitcoin and not shitcoin?
+
+Money tends to have a single winner. People need to be convinced that someone
+won't suddenly produce more money, or redistribute existing money.
+
 The Vision 
 
 
 
 
+
 Bitcoin theft:
 Using bitcoin properly is like using a door lock properly. If you have a door
 lock on your door but forget to lock, then you can still be burglarized. If you

intro.md

@@ -1,10 +1,13 @@
-Lesson 1: What is Bitcoin like? Using analogies to understand Bitcoin
+# Introduction to Bitcoin
-Lesson 2: The 5 meme principles of Bitcoin. To dos and not to dos
+
-Lesson 3: FAQ
+Lesson 1: [What is Bitcoin like? Using analogies to understand Bitcoin](analogies.md)
-Lesson 4: Using a mobile phone wallet, setup
+Lesson 2: [The 5 meme principles of Bitcoin. To dos and not to dos](principles.md)
-Lesson 5: Using a mobile phone wallet, recovery
+Lesson 3: [FAQ](faq.md)
-Lesson 6: Using a mobile phone wallet, buying bitcoin
+Lesson 4: [Using a mobile phone wallet, setup](bluewallet_setup.md)
-Lesson 7: Using a mobile phone wallet, sending bitcoin
+Lesson 5: [Using a mobile phone wallet, recovery](bluewallet_recovery.md)
-Lesson 8: Using a hardware wallet, setup.
+Lesson 6: [Using a mobile phone wallet, buying bitcoin](bluewallet_buying.md)
-Lesson 9: Using a hardware wallet, buying bitcoin
+Lesson 7: [Using a mobile phone wallet, sending bitcoin](bluewallet_sending.md)
-Lesson 10: Using a hardware wallet, sending bitcoin
+Lesson 8: [Using a hardware wallet, setup](ledger_setup.md)
+Lesson 9: [Using a hardware wallet, recovery](ledger_recovery.md)
+Lesson 10: [Using a hardware wallet, buying bitcoin](ledger_buying.md)
+Lesson 11: [Using a hardware wallet, sending bitcoin](ledger_sending.md)

memes.md

@@ -1,9 +0,0 @@
-The five meme principles of Bitcoin
-
-What to do and what not to do
-
-1. There's Bitcoin and there's shitcoin
-2. Not your keys, not your coins
-3. Stacking sats
-4. HODL
-5. Don't trust, verify

principles.md

@@ -0,0 +1,89 @@
+# The five meme 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
+others, but these are the most important for beginngers.
+
+## 1. There's Bitcoin and there's shitcoin
+
+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
+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.
+
+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
+
+The Bitcoin balances are controlled by cryptographic signatures. This is what
+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
+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
+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,
+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
+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
+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
+
+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
+unit.
+
+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
+doesn't depend on the market conditions, so you don't need to worry about
+understanding them. It doesn't depend on having trading experience, so you
+won't be influenced by psychology. It is working in small steps, so if you make
+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
+
+- selling has a number of disadvantages, so you should avoid it
+- during downturn, you may lose money
+- selling may incur taxes
+- selling may create problems with banks
+
+- what to do instead?
+- do nothing
+- sell a small amount, whatever you urgently need
+- if you need to pay for something or send a gift, maybe sending Bitcoin
+  directly without sell would work
+- try to get a loan using Bitcoin as a collateral
+
+## 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.
+- you can run your own node, then you can verify the balances yourself
+- 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