Course description/goals:
By the end of the course, students should be able to explain what Bitcoin is and how it differs from traditional currency; understand the basic roles of blockchain, nodes and mining; distinguish Bitcoin from other cryptocurrencies; understand exchanges, wallets, addresses, private keys and recovery phrases; describe custodial and self-custodial ownership; understand the basic process of buying, transferring, storing and selling Bitcoin; recognize common cryptocurrency scams and security risks; understand basic tax, recordkeeping and inheritance considerations; and discuss major arguments both for and against Bitcoin.
Session 1 — From Money to Bitcoin
How money evolved; commodity money, coins, paper currency and fiat; digital money; the origins of cryptocurrency; Satoshi Nakamoto and the Bitcoin white paper.
Session 2 — What Makes Bitcoin Different?
Characteristics of money; decentralization; peer-to-peer networks; scarcity; divisibility; portability; personal responsibility and the concept of self-custody.
Session 3 — How Bitcoin Works
Transactions, addresses, digital signatures, nodes, the blockchain, mining and proof-of-work, confirmations, Bitcoin's supply limit and halvings.
Session 4 — Wallets, Keys and Storage
What a Bitcoin wallet really is; public addresses and private keys; recovery phrases; hot and cold wallets; custodial versus self-custodial ownership; hardware wallets.
Session 5 — Buying, Selling and Transferring Bitcoin
Cryptocurrency exchanges; opening and funding an account; purchasing fractions of a Bitcoin; fees and spreads; transferring Bitcoin; test transactions; dollar-cost averaging and volatility.
Session 6 — Keeping Bitcoin Safe
Account security, recovery phrases, phishing and fraud, fake support and investment scams, protecting a hardware wallet, recordkeeping, basic tax considerations, and planning for spouses, heirs and executors.
Session 7 — Bitcoin in the Larger World
Bitcoin adoption, institutional participation, government policy and regulation, international use, human-rights applications, criticisms and controversies, and where Bitcoin may—or may not—fit in the future.
The course is educational. It is not individualized financial, investment, legal or tax advice. Students will not be asked or encouraged to purchase cryptocurrency, disclose account balances, bring recovery phrases/private keys to class, or reveal passwords or other security credentials.
By the end of the course, students should be able to explain what Bitcoin is and how it differs from traditional currency; understand the basic roles of blockchain, nodes and mining; distinguish Bitcoin from other cryptocurrencies; understand exchanges, wallets, addresses, private keys and recovery phrases; describe custodial and self-custodial ownership; understand the basic process of buying, transferring, storing and selling Bitcoin; recognize common cryptocurrency scams and security risks; understand basic tax, recordkeeping and inheritance considerations; and discuss major arguments both for and against Bitcoin.
Session 1 — From Money to Bitcoin
How money evolved; commodity money, coins, paper currency and fiat; digital money; the origins of cryptocurrency; Satoshi Nakamoto and the Bitcoin white paper.
Session 2 — What Makes Bitcoin Different?
Characteristics of money; decentralization; peer-to-peer networks; scarcity; divisibility; portability; personal responsibility and the concept of self-custody.
Session 3 — How Bitcoin Works
Transactions, addresses, digital signatures, nodes, the blockchain, mining and proof-of-work, confirmations, Bitcoin's supply limit and halvings.
Session 4 — Wallets, Keys and Storage
What a Bitcoin wallet really is; public addresses and private keys; recovery phrases; hot and cold wallets; custodial versus self-custodial ownership; hardware wallets.
Session 5 — Buying, Selling and Transferring Bitcoin
Cryptocurrency exchanges; opening and funding an account; purchasing fractions of a Bitcoin; fees and spreads; transferring Bitcoin; test transactions; dollar-cost averaging and volatility.
Session 6 — Keeping Bitcoin Safe
Account security, recovery phrases, phishing and fraud, fake support and investment scams, protecting a hardware wallet, recordkeeping, basic tax considerations, and planning for spouses, heirs and executors.
Session 7 — Bitcoin in the Larger World
Bitcoin adoption, institutional participation, government policy and regulation, international use, human-rights applications, criticisms and controversies, and where Bitcoin may—or may not—fit in the future.
The course is educational. It is not individualized financial, investment, legal or tax advice. Students will not be asked or encouraged to purchase cryptocurrency, disclose account balances, bring recovery phrases/private keys to class, or reveal passwords or other security credentials.
- Teacher: Dana J Goulston