The Crypto 101 Show

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What is token burning? The good and the bad. Jan 26, 2023

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Episode 32- What is token burning? The good and the bad.
I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. The content of this podcast episode is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice.
Token burning has been gaining popularity among cryptocurrency projects. While some say that token burning can be beneficial for the long-term growth and success of a project, others argue it is important to critically examine the potential drawbacks of this practice and we will discuss both sides of this in this episode. Let's dive into what Token Burning is and what is good and bad about it.
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#crypto #cryptocurrency #bitcoin #tokenburning #token #altcoins #defi #coins #cryptocoins #blockchain #finance

Listeners Crypto Questions Vol 2 - LCQ V2 Jan 19, 2023

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Episode 31 - Listeners Crypto Questions Vol 2 - LCQ V2
I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. The content of this podcast episode is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice.
In this episode we are discussing Listeners Crypto Questions Vol. 2. There are 4 questions from 4 different listeners. If you would like to ask any questions for future episodes there’s a couple ways to reach out. Through social media with Facebook or Instagram, through our newly formed discord group, or via email. All of these links are provided in the show notes description.

What are some other use cases for smart contracts?
What causes cryptocurrency exchanges to go bankrupt, in particular FTX?
Why does it seem bitcoin purists and altcoiners and shitcoiners are always fighting with each other?
Who do you recommend listening to when learning about crypto?

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This week's episode was brought to you by The WIld 1 Media. If you or anyone you know is looking for podcast editing, podcast production, or any other podcast services please reach out to The WIld 1 Media at www.thewild1media.com. Thanks for listening.
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The Ticketmaster failure: can Web 3.0 NFT blockchain ticketing fix problems with event ticketing? Dec 08, 2022

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Episode 30 - The Ticketmaster failure: can Web 3.0 NFT blockchain ticketing fix problems with event ticketing?
I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. The content of this podcast episode is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice.
First things first let’s talk about the elephant in the room, Ticketmaster. I want to start by giving a bit of a backstory to what led to where we are today with the ticketing giant. A few weeks ago there was a huge mishap in the event ticketing world specifically involving Ticketmaster and Taylor Swift fan’s. The trouble started when registered fans received codes for a pre-sale for Taylor Swift's newest tour. Ticket buyers were met with long delays and error messages that Ticketmaster blamed on bots and historically unprecedented demand. Many wanting to buy tickets walked away frustrated and empty-handed.
Ticketmaster acknowledged a “staggering number of bot attacks,” occurred while fans were trying to get tickets as well. This created problematic questions like who was actually getting the tickets — Swift fans or scalpers hoping to make a profit on the resale market? And at this point Ticketmaster said it was canceling its general public sale because of “high demands on ticketing systems”. This has set off a firestorm against Ticketmaster where some second hand tickets were being priced at $28,000. But this isn’t the first time Ticketmaster has been a problem for artists and fans either. Listen to the full episode for more information.
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This week's episode was brought to you by The WIld 1 Media. If you or anyone you know is looking for podcast editing, podcast production, or any other podcast services please reach out to The WIld 1 Media at www.thewild1media.com. Thanks for listening.
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What is The Fediverse and how does it pertain to crypto? Nov 11, 2022

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Episode 29 - What is The Fediverse and how does it pertain to crypto?
I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. The content of this podcast episode is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice.
I think we’ve all heard about the recent takeover and purchase of Twitter by Elon Musk. With this there’s been quite a bit of users leaving the social media platform and looking for something new or an alternative. This is where Mastodon comes in, a decentralized social media network. Before we talk about Mastodon let’s go over a few things to help clarify.
As the crypto world keeps growing and evolving there’s a lot of interest that gravitates new users and developers to it. In particular decentralization and blockchain technology that’s evolving the Web 3.0 movement. We talked about Web 3.0 in a previous episode and The Fediverse is something that’s becoming a part of that. Many users, organizations and companies believe the centralized web isn't working anymore. That it’s time for something different.
A lot of users of Web 2.0 are waking up and becoming aware of the power a handful of companies have amassed through the centralized nature of the modern web, Musk bring a good example. Many of these users are now turning to a decentralized alternative. The biggest reason for this is users want to own their data and the other is freedom. In episode 23 we talked about Web 1.0 being read only, Web 2.0 being read/write only and the newest Web 3.0 being read/write and own only. With over five and half million registered users already, and over half a billion posts ranging from photos uploaded to status updates in the Fediverse, this is how the future of the internet is evolving.
Looking for Crypto apparel? Crypto 101 swag, shirts and apparel available here. This episode is sponsered by Joe Ugly Apparel - www.joeuglyapparel.com
This week's episode was brought to you by The WIld 1 Media. If you or anyone you know is looking for podcast editing, podcast production, or any other podcast services please reach out to The WIld 1 Media at www.thewild1media.com. Thanks for listening.
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Check out our other podcasts-
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Listeners Crypto Questions Vol 1 - LCQ V1 Aug 26, 2022

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Episode 28 - Listeners Crypto Questions Vol 1 - LCQ V1
I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. The content of this podcast episode is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice.
In this episode I wanted to answer some listeners' questions I have received. I actually really enjoy the questions and it helps me see where some of you as listeners are, with your thinking. It also helps me understand what I may need to do an episode on in the near future. Some of these questions you may know the answer to and some you may not. But I find it important as a whole community we try to help each other out. There are 4 questions today from 4 different listeners.
First things first, there is no stupid question in my book. Even some of the simple ones can actually be a deep dive. Second, if there are any of you listeners that have questions you would like to ask about anything pertaining to crypto please either DM the show via the Instagram, Twitter, or Facebook profiles or use the email address I have provided in the show notes and I will try to put it in for the next episode of listeners questions. Third, like all things with this show I am going to do my best to leave my opinion out of the answers as much as possible. And lastly, like all things in life there’s a grayscale. There’s an in between where we have to weigh the pros and cons. So I hope you all can take an open mind to these questions and answers and use them to help you grow in your crypto education.
1. "When will crypto become more mainstream?"
2. “Doesn’t bitcoin or crypto just create a new type of generational wealth that will eventually lead to inequality all over again?”
3. “Do NFT’s get held in wallets like crypto?”
4. “Do you think there will be a white swan or black swan event?”

Proof of Work vs Proof of Stake & the Ethereum 2.0 release Jul 28, 2022

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Episode 27 - Proof of Work vs Proof of Stake & the Ethereum 2.0 release
I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. The content of this podcast episode is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice.
In order for cryptocurrency to come to the creation and validation of cryptocurrency onto the blockchain they have to follow one of two ways. Either proof of work or proof of stake. These are two different consensus mechanisms for cryptocurrency that help validate cryptocurrency transactions. These consensus mechanisms help blockchains synchronize data, remain secure, verify and add new transactions to the blockchain, and create new tokens. Consensus mechanisms allow each computer attached to the network to agree on legitimate transactions to avoid middlemen.
Proof of work, first pioneered by Bitcoin, uses mining to achieve those goals and the first functioning proof-of-stake cryptocurrency was Peercoin, introduced in 2012 which uses staking to achieve its goals. The main upside of proof of work is that it is trusted, and has a long track record while the main upside of proof of stake is that it requires less energy, and is scalable. While both methods validate incoming transactions and add them to a blockchain which is the ultimate endgame they still both differ in how they get there.
The easiest way to think about them both is Proof of work is computer power meaning the more robust the computer the more that complex equations can be solved and more mining can be done earning them rewards. And proof of stake is currency power, which means the more coins a validator is holding the more chance they will be allowed to validate transactions which rewards them with more coins. The other thing is Proof of Work creates coins, like bitcoin, while Proof of Stake does not, because the coins have been created at the start of the project which means they essentially mint their tokens before an ICO or initial coin offering. So let’s break this down a bit more.

All about Bitcoin (The Bitcoin episode) Jun 21, 2022

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Episode 26 - All about Bitcoin (The Bitcoin episode)
I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. The content of this podcast episode is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice.
In this episode we are going to talk all about Bitcoin, as it is the most known cryptocurrency throughout the world. To start I want to give a quick history of Bitcoin, who its creator or creators are, and why they created it. Then we will talk about some of the biggest questions around bitcoin. A lot has happened since the “genesis block” of bitcoin (BTC) was mined in early 2009, and Satoshi Nakamoto sent the first-ever transaction to Hal Finney. Bitcoin is a digital currency that operates on a decentralized network and is a global currency not tied to any one country. It was invented in 2009 by a person or group of people who called themselves Satoshi Nakamoto.
The goal was to create "a new electronic cash system" that was "completely decentralized with no server or central authority." After creating the technology, in 2011, Nakamoto turned over the source code and domains to other individuals in the bitcoin community, and then disappeared. With just thirty-one thousand lines of code and an announcement on the Internet there were no paper bills or precious metals this type of currency would be made of. Giving way to a new form of money and payment structure.
A few months after the 2008 financial sector collapse Nakamoto published a five-hundred-word essay about the traditional fiat/government-backed currencies. Nakamoto wrote “The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.”

What is a “crypto winter” and a “crypto ice age” and why are they significant? Jun 07, 2022

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Episode 25 - What is a “crypto winter” and a “crypto ice age” and why are they significant?
I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. The content of this podcast episode is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice.
Continuing from our previous episode crypto the last few months has seen a big beat down. The value of crypto went from $3 trillion back in November 2021 to just around $1.3 trillion since the crash in May. This caused huge losses to many investors and purchasers of crypto. With the crypto market not coming close to recovering many big name investors and crypto enthusiasts say we are heading for or are potentially in “crypto winter” and even more people are asking is this a crypto “ice age” we are heading into?
Crypto winter is a term used to explain a period of flat trading after a crypto price crash. It is a market condition when cryptocurrencies’ prices fall significantly below where they usually trend in a bull market or when the market rises and thrives.The cryptocurrency market goes through cycles similar to the stock market called bullish and bearish. Think of crypto winter as when crypto prices of coins go down and freeze there or stay stagnant for a shorter period of time with very little movement. The length of time of crypto winter could be thought of as a season, usually 6 months to a year but can sometimes last even longer. And causes of a crypto winter vary.

What happened to stablecoins with the market meltdown? May 19, 2022

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Episode 24 - What happened to stable coins with the market meltdown?
I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. The content of this podcast episode is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice.
These last few weeks we saw the crypto market get rocked. One part of this meltdown was stablecoins, which we are going to talk about further in this episode. We saw a tremendous drop in value for most if not all of the coins and I think this is important to go over and understand what and how this happened, with stablecoins in particular. Back in episode 6 we talked a bit about Stablecoins with what they are and how they work but as a quick refresher Stablecoins are tokens pegged to the value of a government-backed currency or fiat currencies such as the US dollar or commodities like silver or gold. Hence the name stablecoins because they are kept stable by being pegged to those assets and therefore can be traded 1 to 1 for them. But there are even some Stablecoins that are pegged to currencies with an algorithm which we will discuss in this episode.
Let’s answer first: what's the point of stablecoins? Stablecoins are seen as a safe haven to store cash without having to interact with the traditional financial system like banks or other regulated financial institutions. This means holding in a stablecoin allows crypto traders to both hold their money entirely on blockchains or in the crypto ecosystem without being burdened with the market fluctuation because stablecoins are supposed to be the least volatile. A lot of crypto traders hold stablecoins to easily go in and out of different crypto investments without using a traditional bank or fiat currency and can make for faster trades. Stablecoins are supposed to help crypto traders have a steady and less volatile place to park their cash and occupy a different role in the digital finance market because of this.

What is Web3 and how does it pertain to crypto? May 04, 2022

Show notes

I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. The content of this podcast episode is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice.
Before we begin into what Web3 or Web 3.0 is, let's take a step back. The very first version or first generation of the internet available to use, we know as the World Wide Web. This goes back to the early 90s, where it was primarily made up of static web pages connected by hyperlinks. Some of you may remember those annoying dial up tone high pitch squeals that sounded like this. That was the very first of its kind and we called it Web 1.0. Next came Web 2.0, the 2nd generation where the internet was used as a platform. We saw the rise of e-commerce sites like Amazon and eBay as well as social media sites like Facebook, Twitter, and Instagram. People had the ability to interact with online platforms and publish content of their own websites as well. Cloud computing and smartphones were the large accelerators of growth for this.
Some people believe the problem with Web 2.0 is that internet users are required to surrender their personal data. If users want to use "free" services provided by the tech giants of the industry, they collect all the users' information and preferences while using these services. This personal information is then sold to third parties and often used to send specific ads to its users. And this is where the 3rd generation called Web3 or Web 3.0 comes in. Web 3.0 is believed to bring Internet technology that has the advantage of machine learning, artificial intelligence, and blockchain all together unified to achieve real-world human communication. It can potentially be open, trustless, and permissionless which we'll touch on in a bit. But first in this episode we will take a look at what Web 3.0 is, where it is now, where it’s possibly going in the future, and why it pertains to cryptocurrency.

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