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Mode Code JavaScript Lesson

Here is a quick video about while loops in Javascript

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Mode Code JavaScript Lesson

Here is another JavaScript lesson about functions. This one covers parameters and return values.

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Mode Code JavaScript Lesson

Here is a quick video showing classic and arrow functions in JavaScript

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So you want to Bitcoin...

Here is my 101. My guide on everything I know of Bitcoin and my answers to the questions that I get asked most often...

What is Bitcoin?

The easiest way to explain this is with a video. This is one of the best ones I have seen to explain what Bitcoin is from both a technical perspective and a, more personable, global financial perspective....

How can I invest? What is the easiest way?

Most normal people use an exchange to buy and sell BTC (And other cryptocurrencies) for GBP (And other FIAT currencies)

You may have heard of Coinbase, Binance, Kraken, CoinJar or similar. These are all centralised exchanges. They are among the biggest and, as such, are trusted by most people and under most scrutiny from counties and governments to make sure they are adhering to the financial rules of the countries they are trying to service.

They all have similar rules in common. That is that they all employ heavy "KYC" or "Know Your Customer". This is because all countries want to know what you are doing with your money.

In order to use a centralised exchange they will need to know your name, address, bank details etc etc before you are allowed to deposit your GBP to the exchange. Once deposited, you can then you the exchange itself to swap your GBP to BTC and it will appear in your exchange account in its own BTC wallet.

For a lot of people, that is it. You then have an online account on an exchange and some BTC there.

Obviously, if BTC goes up in value, then you are able to swap your BTC back to GBP and withdraw it from the exchange back into your regular bank.

How private is it? How secure is it?

Bitcoin, in short, is as private and secure as you want it to be. When you create a new Bitcoin wallet you alone get access to the private keys to that wallet. These keys, the 12/24 random word key, is required to action any transaction on the blockchain coming from that wallet address (The public key). When you want to send Bitcoin to an address then that public key is all you actually need.

What is an ETF?

An exchange tradable fund, an ETF, is a market that larger institutions can use to invest in Bitcoin. Regulation around direct investment in Bitcoin by businesses is still a work in progress but. crucially, as these ETFs are backed directly off the spot Bitcoin price it gives a fairly direct correlation within a legitimate investment market.

Regulations?

As things stand, banks are allowed to move your money onto regulated exchanges. You are allowed to exchange that fiat for crypto and back and you are able to withdraw that fiat back to your regular bank.

If you choose to self custody your bitcoin then you would have an extra step after you exchange fiat for btc where you would send that crypto to a different wallet (your cold storage) and then when you want to sell you would need to send it back to your exchange wallet so you can re-exchange back to fiat and withdraw.

There is a lot of fear about on ramps and off ramps being closed off by governments in various countries but there are still numerous plentiful options open for buying and selling bitcoin.

On ramps and off ramps?

This is just a term to cover the above so How do I take the fiat in my bank and get bitcoin in my cold storage wallet and back again.