And should we care about Bitcoin in the first place?
For today’s episode, we are having a special guest: The one and only Ivan Liljeqvist from Ivan on Tech. Very excited to have him on the show. If you have been reading the blog long enough you know I have been following him for a bit more than two years now. And that I have mentioned his channel in my article on investing in Bitcoin back in November of 2017.
Ivan will walk us through the basics the Blockchain Technology and Bitcoin. We will discuss what Blockchain is all about, how Bitcoin works and what the use case is. We will also discuss the value of Bitcoin and if you should invest in it at all.
If you are here because you follow his channel or are a fellow Academy student, you are in for a treat as well: This will be the perfect episode to learn more about Ivan and what is happening under the hood at the Ivan On Tech “headquarters”!
This episode is for you if you want a quick and simple explanation on Bitcoin and Blockchain Technology, and if investing in Bitcoin is something you should consider or not.
Key Takeaways :
- See Blockchain as a database where you can add information but never remove information. Blockchain is the technology that underpins cryptocurrencies such as Bitcoin.
- Bitcoin is not controlled by any banks, the trust is in the system.
- If you hold any cryptocurrencies, store them on your cryptocurrency wallet, do not leave them on an exchange managed by third parties.
- Bitcoin can serve people in unstable economies and wealthy people living in countries where there is a strong control of capital. Since cryptocurrencies cannot be confiscated, these are an excellent vehicle for wealth transfer.
- If you want to learn about Bitcoin, why not starting with a fraction of a Bitcoin (e.g. 100 euros) and play around it to learn how you can transfer it, how the private key work, etc.
- We are still in “price discovery” mode, this is why the price of Bitcoin fluctuates so much. Ivan believes the value can still climb to 380 000 USD. Nevertheless, we still need to see how Bitcoin behaves in a recession and if it holds its value.
- When you start watching Ivan’s channel you will soon realize that there is much more going on than just discussions on price variations and software programming topics. You will realize how this space is connected to larger topics such as technology, money, banks, politics,…
- Blockchain technology today is like the internet in the 80s, it is in its infancy and we cannot yet imagine what applications we will use in the future.
- Ivan had no specific time management tricks or habits but one thing he focuses on is to get the most important thing done first thing in the morning (namely his daily show). This allows him to pursue other activities throughout the days with peace of mind.
Who is Ivan Lijeqvist?
Ivan “On Tech” Liljeqvist is an international speaker, blockchain educator, software developer, and data scientist. Ivan’s Youtube channel, Ivan on Tech, with its over 200,000 subscribers is a truly global phenomenon spreading knowledge about the blockchain technology to millions of viewers all over the world. Ivan makes the complex simple by delivering entertaining and exciting talks.
Today Ivan is consulting and educating some of the largest corporations and governments in the world.
- Main channel: Ivan on Tech
- Course: Ivan On Tech Academy
- Course review: Deep Blockchain Fundamentals – Ivan on Tech Academy review
- Twitter: @IvanOnTech
- Instagram: @ivanontech (Fun video clip: Ivan Coffee Level)
- Video from Ray Dalio: How The Economic Machine Works (Highly recommend it!)
- Favorite books: The 10X Rule
- Get started with cryptocurrency: Use this link to get 10 USD worth of BTC as a sign-up bonus on Coinbase.
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