I got this idea on my mind the other night: what would I do if I need to relearn Bitcoin from scratch again? ( Interestingly enough, zapsammy asked a similar question ) ; Here was what I came up with, sharing it out loud, hopefully they are also useful for anyone feeling a bit overwhelmed in the ocean of information.
Unlearn to Learn
I've noticed that everyone will understand Bitcoin at the time when they are ready, that's something that can't be rushed or forced.
It took me quite a long time to fully understand Bitcoin and I'm still learning something new from time to time, and it changed me in many ways - I started to simply use Bitcoin as a tool for international transfers because I was nomading around and needed to have the local currency in hand, but the banks either charged too many fees, offered bad rates, simply too slow or even with certain restrictions. Later, I saw it as a good investment as the number was going up. Logically, I turned my attention to the shiner crypto projects too, but then I found out that, wait, Bitcoin is actually freedom money, it's my own money and NO one can take it away, that was a really powerful wake up moment, but then can I really spend it and where? As I kept exploring, I wanted to figure out how I could earn this hard money too.
Not sure which stage you are in, but you are in the right place if you are curious and with an open mind to get a glimpse of the future!
Simple Steps
1. Read the White Paper
Don't freak out if you still have no clue what it means: https://bitcoin.org/bitcoin.pdf
2. Read Darthcoin's Guide
This is the one you need, especially If you have limited time: https://darth-coin.github.io/
I was quite an average Bitcoiner before finding Darth's guide, and I spent some time reading as much as I could and safely said it's the best and most practical Bitcoin guide out there, even full of humor. Take your time to absorb and pay attention to the details; it could be one month, six months, one year, or even longer; Be patient and enjoy the journey.
Two MUST reads
3. Get your Hand Dirty 🧪
You can't learn how to swim simply by reading, using $20 or any small amount that you are comfortable with to get some Bitcoin, of course, you can even earn it; Here are some recommendations for going down this rabbit hole
or simply learning as you go, your curiosity is the best teacher!-> Buy or earn some Bitcoin to get started
The first step is the hardest, but you can either buy it from exchanges, from friends, ATMs, or earn it.
Resources
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Non-KYC exchange: Robosats and Hodlhodl, here is a guide on how to use them and watch out for the bad counterparty .
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Be aware of the cameras and fees in Bitcoin ATMs:
-> Create an Onchain Wallet
Learn how to create a wallet and most importantly: how to keep the seeds, then withdraw the BTC you buy or earn to this freshly created Onchain wallet and restore it from another wallet to see the magic!
Recommended wallets
- For beginners: Blue wallet
- For more advanced users: Sparrow or Electrum
And understand the difference between hot and cold wallets, optionally, even create your own cold wallet instead of buying any hardware wallets, as this could be one of the most empowering moments in your Bitcoin journey. ✨
-> Swap from Onchain to Lightning
Try to understand what's Lightning and why it exists in the first place, aka what problem it is trying to solve and learn how to use it. In an ideal world, you should only use Onchain funds for saving and opening LN channels, while funds in Lightning is for daily spending.
Resources
->Test with Different Lightning Wallets
There is no such thing as the BEST wallet, better learn how to use each, from custodial wallets to non-custodial ones, and maximize what each wallet has to offer.
Recommended wallets
More here
-> Learn about the Nodes
Running your own node brings a much better understanding of how Bitcoin works; I started to run an Umbrel node around 2021, and I had absolutely no clue what I was doing at that time, but I kept digging, doing tests, and learning from mistakes, all those experiences made my testing with mobile nodes and transitioning living in Bitcoin so much easier.
But read this before getting into running a home node; if you decide to walk this path, here is a good and simple direction:
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Choose which Node to get started.
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How to choose the right peers with 1ML.one trick on the peer's choice depends on your usage, e.g. do you use it to spend or receive?
- if mainly for spending, then you can connect with the shops or companies' nodes where you spend mostly;
- if mainly for receiving, then you can connect with the popular wallets' node;
- Or, simply look for those with low fees and well-connected good nodes.
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How to open and close channels with Thunderhub, especially paying attention to choosing public or private channels.
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What are the inbound and outbound liquidity, and how to manage them.
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Most importantly, how to restore it when SHTF.
However, as time passed by and many improvements have been made, e.g., you can even run a node in your mobile now with Zeus ( I, II ) and Blixt, both are really powerful and a MUST to have.
-> Go More Technical
And, all these mentioned above are only the iceberg; Stay curious and keep digging!
4. Leverage the Brains in SN
Checking out some of the great posts, making good use of the
search, asking good questions, and sharing what you have learned while having fun and even earning some precious sats; A well-kept secret here is that you are pretty much being paid to learn, and I've written two guides to help you level up the fun, and including some other really good ones:⚡
Here is the simple hack of SNing:Writing original content, zapping the great work that you like, or contributing with your skills, or simply hanging out in the daily @saloon to share fun things or newly learned tips and tricks. ✌🏽
5 . Stay humble and Integrate Bitcoin into your Life
You don't need to wait for the whole world to start accepting BTC, or the so-called "Bitcoin country", all you need is people or businesses around you to start;
Be the change! Bitcoin Circular Economy starts from a normal living man and woman like you and me.Some first-hand stories from Bitcoiners:
- Renting an apartment for bitcoin
- Paying For Breakfast With Bitcoin At The Melville Deli
- Maybe All you Need is to Ask - Do you Accept Bitcoin? | Part II | Part III
- Spending Sunday series
Here is my first attempt at simplifying the Bitcoin learning rabbit hole, these shall cover the basic information one needs to reach a good understanding of it, but the learning journey never stops! And I realized that most information about Bitcoin is already freely available as I was writing this piece, there is really no excuse for saying that you don't understand Bitcoin.
And for the more experienced Bitcoiners, what would you do if you need to relearn Bitcoin from scratch again?
The Art of Using Stacker News ⚡
The Art of Using Stacker News II ⚡️
Guides on How to Level Up the Fun in SN ⚡
What If You Need to Relearn Bitcoin from Scratch Again? 🤔