Date: January 21, 2025
Time: 7:00 PM GST
Platform: LinkedIn Live watch here
Hosts: DEE A & RA George

LinkedIn profile for Dee A - https://www.linkedin.com/in/deeallan/

LinkedIn Profile for RA George -

https://www.linkedin.com/in/ra-george-19b102104/

Watch LinkedIn video here https://shorturl.at/JsSnR

This special beginner-level session of Bitcoin DXB focuses on introducing Bitcoin in a way that's easy to understand for politicians, high-net-worth individuals (HNWIs), educational institutions, lawyers, and government agencies. We break down the basics of Bitcoin, discuss its history, and explain key concepts, providing a solid foundation for anyone new to the world of cryptocurrency.

What is Bitcoin?

Definition:

General public perception: Is Bitcoin a scam, internet money, or crypto? Hosts' definitions: Insights from DEE A & RA George. Whitepaper Definition: Peer-to-peer electronic cash system, as defined by Satoshi Nakamoto.

Why it Matters:

Challenges with the current banking system vs. Bitcoin’s peer-to-peer model. A personal perspective on the inefficiencies of traditional systems like KYC and large-sum transactions.

The Basics of Bitcoin

21 Million Limit: Exploring the concept of demand vs. supply. Bitcoin Halving: An easy breakdown of how and why Bitcoin rewards are halved every 4 years:

History of Bitcoin

Bitcoin wasn’t the first cryptocurrency; others like eCash, B-Money, BitGold, and Hashcash came before. The Double-Spending Problem and how Bitcoin solved it using cryptography, hashing algorithms, and mathematics (SHA-256).

Key Concepts of Bitcoin

Peer-to-Peer: A comparison with fiat systems and real-world examples (e.g., Dubizzle, Facebook Marketplace). Electronic Cash System:

Bitcoin Mining

Simplified explanation: Miners solve puzzles to verify transactions, using energy in a process called Proof of Work (PoW).

Pillars of Bitcoin (Open Blockchain)

Open Source: Transparent source code available on GitHub. Permissionless: No age or location restrictions for users. Borderless: Seamless transactions worldwide. Censorship-Resistant: Miners update transactions without validating their purposes. Publicly Verifiable: Bitcoin transactions are traceable via Blockchain Explorer, making illicit activities detectable.

Comparison to CBDCs

CBDCs are not peer-to-peer and are controlled by central banks. Bitcoin provides transparency, while CBDCs allow selective verification and potential double-spending.

This session breaks down the barriers to understanding Bitcoin, helping beginners grasp why it's often called the future of money.

Join us for future episodes of Bitcoin DXB as we dive deeper into advanced topics like Bitcoin mining, halving, and the future of blockchain.

Follow RA George and DEE A for updates and insights!

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🟠Bitcoin DXB🟠- Beginner Level🚀: Understanding Bitcoin & Defining Bitcoin 45:54 Share

Blockchain DXB

Shownotes Transcript

🟠Bitcoin DXB🟠- Beginner Level🚀: Understanding Bitcoin & Defining Bitcoin