• Unit 6: Bitcoin

    This unit introduces Bitcoin, describes the basic mechanisms of the Bitcoin software, and outlines a hypothetical Bitcoin-anchored monetary hierarchy. It introduces proof-of-work mining, Bitcoin's difficulty adjustment, halvings, private keys, addresses, and wallets. It also discusses the Lightning Network as a second layer. It also discusses alternative cryptocurrencies, stablecoins, and service providers. Finally, it covers financial products such as futures and ETFs.

    Completing this unit should take you approximately 2 hours.

    • 6.1: Bitcoin

      This subunit introduces Bitcoin. It begins with Satoshi Nakamoto's Bitcoin "whitepaper" and some of its basics. It explains some cryptography needed to understand Bitcoin and some of the essential components of Bitcoin's design, such as Secure Hash Algorithm 2, private keys and addresses, peers and nodes, blocks, proof-of-work, mining, Bitcoin's difficulty adjustment, halvings, wallets, and cold storage.

    • 6.2: Bitcoin's Denomination

      This subunit covers the early history of Bitcoin. It examines the idea of "neutral money" and claims that Bitcoin resembles gold in a digital form. It explores the early days of Bitcoin and how the IRS began to treat Bitcoin is property.

    • 6.3: Bitcoin Evolution

      This subunit examines the state of Bitcoin in the digital money hierarchy. We discuss cryptocurrency exchanges and their role in a layered bitcoin system. It also examines the Lightning Network.

    • Unit 6 Review and Assessment

      • Receive a grade