How To Buy Pennycandy In The 21st Century

A Practical Introduction To The Blockchain Using Ethereum


By @tompurl


The systems and markets that I'm showing you today are bleeding edge and incredibly unstable. Everything could collapse tomorrow in bizarre ways that are impossible to predict.

I am not a financial advisor and none of my advice should be used for investment purposes. You should assume that speculating in cryptocurrencies is like gambling in a casino.

Source: https://gph.is/2aHHg4A

Financial Disclosure

I own a small amount of the following cryptocurrencies:

  • Bitcoin
  • Bitcoin Cash
  • Ethereum

I am an employee of PNC Bank but my views are my own and in no way are related to my employer.

Source: https://gph.is/1YJ0TcL

Who Is Tom?

  • Systems Engineer and all-around computer nerd
  • Risk-averse cryptocurrency hobbyist(?)

What I Believe About The Blockchain Ecosystem

  • It is the future of assigning, storing and transferring value
  • It's a huge and will have a profound impact on the digital world.

How Should I Get Started?

  • To start your learning process you need to start making transactions.
  • We'll be working in the Ethereum ecosystem because of it's popularity and low transaction costs.

But This Sh*t Is Bananas!

Source: http://i.imgur.com/wOJ5N.gif

But "real" money is also very complicated

Source: http://bit.ly/2mBtbL7

Which childhood financial lessons should we use when starting with the blockchain?

Principle #1

Find a sherpa who will help you along the way.

Principle #2

Find a trustworthy source of "money"

Principle #3

Find a trustworthy wallet app

Principle #4

Start with small sums of money in your wallet.

Principle #5

Make small, simple transactions.

Principle #6

Expect to lose money in suprising ways!

Source: http://bit.ly/2rbH3RE

Ways to lose cryptocurrency:

  • Somehow losing your wallet
  • Transaction fees

The key here is to create a "risk sandbox" where mistakes can be made without dire consequences.

Principle #7

Profit! Rinse and repeat!

Mini-lab: Setting up MetaMask

Source: https://www.ethnews.com/bridging-the-gap-with-metamask

Next Steps

Embrace The Suck

Source: http://bit.ly/2ETdDh3


Thank you!

Principles Summary

  1. Find a sherpa who will help you along the way.
  2. Find a trustworthy source of "money".
  3. Find a trustworthy wallet app
  4. Start with small sums of money in your wallet.
  5. Make small, simple transactions.
  6. Expect to lose a little money.
  7. Rinse and repeat!