Don’t know what the heck the Blockchain is? Watch this and you’ll know the basics in two minutes

Blockchain Basics

Many domain name geeks like me are starting to get more and more interested in Cryptocurrency. I have talked about Bitcoin and Ethereum on my blog in the past and I invest in both. While domain names are still my #1 investment vehicle and have been for a long time now, cryptocurrency is somewhere that I’m putting more and more of my investment dollars.

This topic came up recently via Twitter as Rick Schwartz brought up the point that domain names and cryptocurrencies are fighting for the same investment dollars. I can’t speak for everyone but I know this is true for me. Rewind two years ago and just about every penny I invested went into domain names, now I’d say about 60% goes into domains, 20% into cryptocurrency and 20% into startups.

For better or worse, amongst my family and friends this has slowly made me the guy people ask about cryptocurrency and blockchain. I usually respond by telling people, “I am far from an expert, it’s all pretty new to me so I’m also learning myself, but I do understand the basics.”

Still, I find myself trying to explain the concepts to others and there’s one video that I find I’m sending around just about every time someone asks me to explain Blockchain. The reason that I like it is that it keeps it simple, doesn’t go on forever, and gives people a foundational understanding without requiring a PhD. So here it is, enjoy!


{ 10 comments… add one }

  • DomainNameBroker.com October 18, 2017, 9:32 pm

    We do not want to know what blockchain is.

    Reply
    • Morgan October 19, 2017, 2:06 pm

      @DomainNameBroker.com – sorry but you’re wrong there, I have a TON of readers that are interested in Bitcoin and Blockchain. If you’re looking for a blog that only writes about domain names, this isn’t that blog πŸ˜‰

      Reply
  • Handshakin.com October 18, 2017, 9:44 pm

    I’ve already learned what blockchain is much thanks to your blog, if I didn’t read almost every post you publish, this would have been a helpful post for me!

    Reply
  • PeerHash October 19, 2017, 3:04 am

    As transactions on the blockchain are verifiable and immutable, future applications will allow domain verification including domain buy/sell transactions.

    Reply
  • Gene October 19, 2017, 7:21 am

    @Domainnamebroker

    You’re only speaking for yourself, so stop acting like all the fools who pretend that they’re speaking on behalf of the world.

    If you don’t like the content posted here, the door out of this blog is in the upper left-hand corner of your screen – it’s an arrow that points west.

    Reply
  • Keith October 19, 2017, 8:51 am

    I read DomainNameBroke’s comment as a tongue in cheek comment about how tech-info overload and how technologies like blockchain that are overwhelming a society that can’t keep up with and/or intellectually digest them. But maybe I’m wrong πŸ™‚

    Meanwhile, thanks for the post Linton, nice concise video that illustrates how currency, gold, jewels and domain names are all just societal agreements based on perceived rarity. Value is largely extrinsic and arbitrarily assigned by mass agreement. ie Dutch Tulip Bulbs, CHIPS and the many stock market and real estate bubbles. Crypto-currencies are but the latest incarnation of this phenomena IMO.

    Reply
  • Joe October 19, 2017, 11:44 am

    Morgan here sent you an interesting link from three months ago you should search Google Blockchain Innovation https://youtu.be/n0Kx5F1SMM8

    Reply
  • Joe October 19, 2017, 12:00 pm

    The most incredible thing is that you can create with Java, javasctipt and c ++ Blockchain if it continues so this will return to have a bubble of greater consequences than the first one.

    Reply
  • Steve October 19, 2017, 2:25 pm

    There should be room in everyone’s portfolio for both domains and cc’s. CC’s and blockchain technology finally creates a store of value that is finite, publicly auditable 24 hours a day 365 days a year and can transact peer to peer, permissionless. AWESOME.
    The end of the corrupt fiat/stock system is on the horizon. Everyone will become their own bank. Priceless.
    While governments play wack a mole, btc soldier’s on.
    Vires in Numeris!!

    Reply
  • Jonathan October 20, 2017, 4:57 am

    What was the problem with my comment that you did not include it the two informative links ? fair & reasonable question ?

    Reply

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