Activities for The Bullish Case for Bitcoin
This post is part of the fastest, most efficient learning path for people who want to get up to speed on Bitcoin, whether that’s for making an investment or transitioning to working in the industry. Read the main post here.
I created a list of activities for each section (in the article) or chapter (in the book) in The Bullish Case for Bitcoin. The goal of these activities is to reinforce what you just read.
As a reminder, for this part of the learning path I recommend reading:
- If you’re reading the article: everything except the “Common misconceptions” and “Real risks” sections.
- If you’re reading the book (website, Amazon): Chapters 1–4, then the “Conclusion” section (pages 92–95).
The Bullish Case for Bitcoin
UPDATE: First published as a long-form article in 2018, The Bullish Case for Bitcoin has become the most read…
To go through this curriculum using proper learning software (and not Medium), enroll in my free Teachable course.
To dialogue and do the activities in this learning path with me and a group of your peers, join a live cohort here.
Quick note: The answers videos for these activities are uploaded in my free Teachable course. Enroll there to view the videos.
Genesis / Chapter 1
- In the article, Vijay writes:
By design, only 21 million bitcoins will ever be mined and most of these already have been — approximately 16.8 million bitcoins have been mined at the time of writing.
In the book, Vijay writes:
…approximately 18.7 million bitcoins have been mined at time of writing.
What was the year of writing for the article? What was the year of writing for the book? Use this interactive version of Bitcoin’s monetary inflation chart.
2. Approximately how many bitcoins have been mined as of the moment you read this question? Again, use this interactive version of Bitcoin’s monetary inflation chart. Round to the nearest million.
3. On what date (day, month, and year) was the first bitcoin mined? Use your preferred search engine.
4. When will the production of new bitcoins end?
The attributes of a good store of value / Chapter 2
- How many satoshis make up one bitcoin?
- Assume the world’s population is roughly 7.8 billion (7,800,000,000) people. If an individual owns one bitcoin (a “wholecoiner”), how many people on earth could ever have as many bitcoins as they have? What is that in percentage terms (i.e., “less than __% of the world’s population”).
- Convert one million satoshis to bitcoin in decimal terms to fill in the blank: 1,000,000 satoshis = ___ bitcoin.
- What is the US dollar value of one million satoshis at the current market price for bitcoin? You can find the market price for bitcoin here.
- If you bought bitcoin in the “Buy and receive your first satoshis” section of this learning path: what percentage of bitcoin’s 21 million supply did you purchase?
- If bitcoin’s 21 million supply was divided up amongst the world’s population evenly, how much bitcoin would each person receive? What is the US dollar value of that amount?
- How old is Bitcoin? When is bitcoin’s 21st birthday?
The Evolution of Money / Chapter 3
- How much are the two pizzas bought for 10,000 bitcoin worth in US dollars today?
- How much is a cup of coffee at this Bitcoin software engineer’s donation website worth today in US dollars? And what is the value in bitcoin? And in satoshis?
- What is your estimate for the value of the cup of coffee tomorrow in dollars? And your estimate in satoshis?
- Assume the value of all of the gold in the world is worth 12 trillion dollars (source). Assume 80% of gold’s value is monetary premium, as per the Monetary premium for different monetary goods chart. If bitcoin takes all of that monetary premium, what is the price of one bitcoin if all bitcoin does is steal gold’s monetary premium?
The shape of monetization / Chapter 4
- The highest price for bitcoin in the Gartner cohorts section is $19,600 (US dollars). However, the article was written in 2018, and the book in early 2021. What is the new highest price for bitcoin since? You can find the market price for bitcoin here.
The content above provides education as to general privacy and security practices when using bitcoin. Should you choose to apply the practices described with bitcoin you own now or may purchase in the future, you do so at your own risk, and I shall in no event be liable for any loss suffered. Nothing shall be construed as providing consulting, financial advice, or general advice as to securing bitcoin.