The Series
The Daily Bit
365 days to understanding Bitcoin — one short lesson at a time, from money’s first principles to sovereignty. Start at Day 1, or jump to whatever pulls you.
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Part 1 · Money Foundation
- Day 1Why Does Money Exist?
- Day 2Who Creates Money?
- Day 3The Problem With Barter
- Day 4The Three Jobs of Money
- Day 5Why Gold?
- Day 6What Makes Good Money?
- Day 7Progress Recap: The Foundation
- Day 8A Banknote Is a Promise
- Day 9August 15 1971
- Day 10Backed By Nothing
- Day 11Banks Create Money
- Day 12Fractional Reserve Banking
- Day 13Weimar Germany
- Day 14Progress Recap: The Nature of Money
- Day 15What Inflation Actually Is
- Day 16The Inflation Math
- Day 17Who Benefits From Inflation?
- Day 18The Cantillon Effect
- Day 19The Inflation Myth
- Day 20Venezuela
- Day 21Progress Recap: When Systems Fail
- Day 22The 2008 Crisis
- Day 23Too Big To Fail
- Day 24The Money Printer
- Day 25Trust Collapses
- Day 26The Question
- Day 27The Whitepaper
- Day 28Satoshi
- Day 29The Bridge
- Day 30Phase 1 Complete
Part 2 · What Bitcoin Is
- Day 31Bitcoin in One Sentence
- Day 32What Is Digital Cash?
- Day 33Why You Can’t Copy Bitcoin
- Day 34Who Controls Bitcoin?
- Day 35What Is Decentralization?
- Day 36Bitcoin vs PayPal
- Day 3721 Million
- Day 38What Is a Sat?
- Day 39Fixed Supply vs Infinite Printing
- Day 40What Is Sound Money?
- Day 41Bitcoin Through the Checklist
- Day 42Bitcoin vs Gold
- Day 43Progress Recap: Getting Practical
- Day 44The Cypherpunks
- Day 45The Graveyard of Good Ideas
- Day 46The Genesis Block
- Day 47Hal Finney
- Day 48Why Satoshi Left
- Day 49The Mystery Remains
- Day 50Milestone Letter
- Day 51Bitcoin vs The Dollar
- Day 52Currency or Asset?
- Day 53Store of Value
- Day 54Bitcoin vs Altcoins
- Day 55Is It Too Late?
- Day 56What Gives Bitcoin Value?
- Day 57Week 8 Recap
- Day 58The Question Satoshi Answered
- Day 59What It Means That This Exists
- Day 60Phase 2 Complete
Part 3 · Getting Started
- Day 61How Much Do You Need?
- Day 62What Is an Exchange?
- Day 63How To Choose an Exchange
- Day 64What Is KYC?
- Day 65How Buying Bitcoin Works
- Day 66Sats Revisited
- Day 67What Is Dollar-Cost Averaging?
- Day 68DCA In Practice
- Day 69Exchanges Are Not Wallets
- Day 70Milestone Letter
- Day 71What Is a Bitcoin Wallet?
- Day 72Hot Wallets vs Cold Wallets
- Day 73Custodial vs Self-Custodial
- Day 74Not Your Keys Not Your Coins
- Day 75The Seed Phrase
- Day 76Setting Up Your First Wallet
- Day 77How To Receive Bitcoin
- Day 78How To Send Bitcoin
- Day 79Week Recap
- Day 80Leaving Bitcoin on Exchanges
- Day 81Panic Selling
- Day 82Losing Your Seed Phrase
- Day 83Bitcoin Scams
- Day 84The Altcoin Trap
- Day 85Bitcoin and Taxes
- Day 86Bitcoin and Taxes Part 2
- Day 87A First Year With Bitcoin
- Day 88The Long Game
- Day 89Bridge to Phase 4
- Day 90Phase 3 Recap
Part 4 · History & Stories
- Day 91The First Bitcoin Price
- Day 92Bitcoin Pizza Day
- Day 93The Silk Road
- Day 94The First Crash
- Day 95The Early Adopters
- Day 96Mt. Gox
- Day 97The Mt. Gox Collapse
- Day 98What Mt. Gox Taught Us
- Day 99The 2013 Bull Run
- Day 100Milestone Letter
- Day 101China Bans Bitcoin
- Day 102The 2017 Bull Run
- Day 103ICO Mania
- Day 104The 2018 Crash
- Day 105Progress Recap: The Early Years
- Day 106MicroStrategy
- Day 107Saylor’s Conversion
- Day 108Tesla Buys Bitcoin
- Day 109El Salvador
- Day 110El Salvador Day To Day
- Day 111The 2021 Bull Run
- Day 112Luna and UST
- Day 113The FTX Collapse
- Day 114What FTX Taught Us
- Day 115Progress Recap: First Crises
- Day 116The 2022 Bear Market
- Day 117The Bitcoin Halving
- Day 118The 2024 Halving
- Day 119Bitcoin ETFs
- Day 120What The ETF Approval Meant
- Day 121Nigeria
- Day 122Argentina
- Day 123Turkey
- Day 124Iran
- Day 125Ukraine
- Day 126The Unbanked
- Day 127Bitcoin Bans
- Day 128Bitcoin Adoption
- Day 129Bitcoin Mining
- Day 130The Energy Debate
- Day 131Progress Recap: Survival Mode
- Day 132The Lightning Torch
- Day 133Bitcoin in Sports
- Day 134Bitcoin and Ordinals
- Day 135The People Who Sold Too Early
- Day 136Bitcoin vs Gold
- Day 137Bitcoin vs Real Estate
- Day 138The Lindy Effect
- Day 139Network Effect
- Day 140Bitcoin Is Dead
- Day 141What Would Kill Bitcoin?
- Day 142The Four Year Cycle
- Day 143On-Chain Data
- Day 144Long Term vs Short Term
- Day 145Two Brothers
- Day 146Progress Recap: Institutional Acceptance
- Day 147What Historians Will Say
- Day 148Day 150 Milestone
- Day 149Bridge to Phase 5
- Day 150Phase 4 Complete
Part 5 · Strategy & Mindset
- Day 151Volatility Isn’t The Risk
- Day 152Inside A Bitcoin Cycle
- Day 153The Bull Market Trap
- Day 154The Bear Market Trap
- Day 155The Expensive Feeling
- Day 156The Halving Deep Dive
- Day 157Stock To Flow
- Day 158Zoom Out
- Day 159The Panic Sell Story
- Day 160Progress Recap: Volatility & Risk
- Day 161DCA Deep Dive
- Day 162The Allocation Question
- Day 163Bitcoin Among Other Assets
- Day 164Afford To Lose
- Day 165Taking Profit
- Day 166Rebalancing
- Day 167The Cost of Waiting
- Day 168The Couple
- Day 169Progress Recap: Cycles & Seasons
- Day 170FOMO
- Day 171FUD
- Day 172The Emotional Cycle
- Day 173Stop Checking The Price
- Day 174Buy The Dip
- Day 175The Sunk Cost Trap
- Day 176Conviction vs Stubbornness
- Day 177Building A Thesis
- Day 178Holding Through 2022
- Day 179Progress Recap: HODL Psychology
- Day 180Half Year Milestone
- Day 181Austrian Economics
- Day 182Time Preference
- Day 183Low Time Preference
- Day 184Hard Money vs Easy Money
- Day 185Inflation As A Moral Issue
- Day 186Hyperbitcoinization
- Day 187Separation of Money and State
- Day 188Bitcoin As A Savings Technology
- Day 189The Saylor Argument
- Day 190Progress Recap: The Investor Mindset
- Day 191Talking To Your Partner
- Day 192Talking To Your Parents
- Day 193Talking To A Financial Advisor
- Day 194I Told You So
- Day 195Aren’t You Rich Yet
- Day 196Who Needs Bitcoin Most
- Day 197When To Stop Talking
- Day 198Should I Sell Half
- Day 199Bridge to Phase 6
- Day 200Phase 5 Complete and Day 200 Milestone
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Part 6 · Security & Self-Custody
- Day 201You Now Have Something Worth Protecting
- Day 202The Celsius Collapse
- Day 203The Pattern
- Day 204Be Your Own Bank
- Day 205Hardware Wallets Explained
- Day 206Ledger vs Trezor
- Day 207Setting Up A Hardware Wallet
- Day 208Moving Bitcoin Off An Exchange
- Day 209The Week Before FTX
- Day 210Progress Recap: The Keys to the Kingdom
- Day 211The Seed Phrase Deep Dive
- Day 212Where NOT To Store Your Seed Phrase
- Day 213Steel vs Paper
- Day 214The Passphrase
- Day 215Bitcoin Inheritance
- Day 216The Bitcoin Inheritance Plan
- Day 217The Lost Inheritance
- Day 218The Fake Hardware Wallet Scam
- Day 219Social Engineering
- Day 220Progress Recap: Advanced Security
- Day 221Multi-Signature Bitcoin
- Day 222Watch-Only Wallets
- Day 223Bitcoin Privacy Basics
- Day 224DYOR
- Day 225Running Your Own Node
- Day 226The Security Checklist
- Day 227The Hard Drive
- Day 228Bridge to Phase 7
- Day 229Phase 6 Recap
Part 7 · How Bitcoin Works
- Day 230Part 7 Opens
- Day 231What Is A Private Key
- Day 232What Is A Public Key
- Day 233What Is A Bitcoin Address
- Day 234What Is Cryptography
- Day 235What Is Hashing
- Day 236What Is The Blockchain
- Day 237What Is A Block
- Day 238What Is A Chain
- Day 239What Is A Digital Signature
- Day 240Progress Recap: The Network Layers
- Day 241What Is Mining
- Day 242What Is Proof Of Work
- Day 243Why Mining Uses Energy
- Day 244The Difficulty Adjustment
- Day 245What Is A Node
- Day 246Miners vs Nodes
- Day 247What Is The Mempool
- Day 248Transaction Fees
- Day 249Transaction Confirmations
- Day 250Progress Recap: Mining & Energy
- Day 251The UTXO Model
- Day 252Hash Rate
- Day 253After The Last Bitcoin
- Day 254The Fee Market
- Day 255Soft Forks and Hard Forks
- Day 256The Block Size Wars
- Day 257What Is SegWit
- Day 258Running A Node
- Day 259Bridge to Part 8
- Day 260Part 7 Recap
Part 8 · Lightning & Daily Use
- Day 261Part 8 Opens
- Day 262What Is The Lightning Network
- Day 263How Lightning Actually Works
- Day 264Lightning vs On-Chain
- Day 265What Is A Lightning Channel
- Day 266What Is Routing
- Day 267The Tradeoffs
- Day 268The Lightning Torch Revisited
- Day 269Sending A Lightning Payment
- Day 270Receiving Lightning Payments
- Day 271Bitcoin Remittances
- Day 272The Salvadoran Family
- Day 273Bitcoin Beach
- Day 274Buying Coffee With Bitcoin
- Day 275The Merchant Side
- Day 276Strike
- Day 277Section 2 Recap
- Day 278Lightning Wallets Explained
- Day 279Lightning Wallets Compared
- Day 280Setting Up A Lightning Wallet
- Day 281Lightning Addresses
- Day 282What Are Zaps
- Day 283What Is Nostr
- Day 284Bitcoin And The Creator Economy
- Day 285Section 3 Recap
- Day 286What Is LNURL
- Day 287Lightning Limitations
- Day 288The Freelancer
- Day 289Bridge to Phase 9
- Day 290Phase 8 Recap
Part 9 · Sovereignty & Future
- Day 291Part 9 Opens
- Day 292What Is Financial Sovereignty
- Day 293Owning vs Accessing Money
- Day 294The Frozen Donations
- Day 295What Are CBDCs
- Day 296Digital Cash vs Programmable Money
- Day 297What Programmable Money Enables
- Day 298The Digital Yuan
- Day 299The Petrodollar
- Day 300Section 1 Recap
- Day 301De-dollarisation
- Day 302Bitcoin As Neutral Money
- Day 303Financial Privacy
- Day 304The Journalist
- Day 305Section 1 Continued Recap
- Day 306The Institutional Wave
- Day 307MicroStrategy Revisited
- Day 308Bitcoin ETFs One Year On
- Day 309BlackRock And Bitcoin
- Day 310Pension Funds And Sovereign Wealth
- Day 311Governments Buying Bitcoin
- Day 312The Strategic Bitcoin Reserve
- Day 313The US Government’s Bitcoin
- Day 314What Institutional Adoption Means For Price
- Day 315Institutional Wave Recap
- Day 316Bitcoin And The Bond Market
- Day 317Bitcoin In Retirement Accounts
- Day 318The HODLer Class
- Day 319The Financial Advisor
- Day 320Institutional Adoption Complete
- Day 321Bitcoin And Energy Full Picture
- Day 322Bitcoin And Renewable Energy
- Day 323Stranded Energy
- Day 324The Texas Oil Field
- Day 325Bitcoin And Grid Stability
- Day 326The Environmental Argument
- Day 327Bitcoin And Freedom
- Day 328Censorship Resistant Money
- Day 329Activists And Dissidents
- Day 330Energy and Freedom Recap
- Day 331Bitcoin and Authoritarian Governments
- Day 332Separation of Money and State
- Day 333Can Bitcoin Be Banned
- Day 334The Country That Reversed Course
- Day 335Sovereignty and Freedom Complete
- Day 336A Bitcoin Standard World
- Day 337Hyperbitcoinization Revisited
- Day 338Bitcoin And Debt
- Day 339Bitcoin And Inequality
- Day 340Two Investors
- Day 341The Critics Best Arguments
- Day 342Bitcoin At One Million
- Day 343Bitcoin At Zero
- Day 344The Patience Premium
- Day 345The Big Picture Recap
- Day 346The Next Decade
- Day 347Its Never Too Late
- Day 348What You Know Now
- Day 349The Education Most People Never Get
- Day 350How To Keep Learning
- Day 351Books Worth Reading
- Day 352People Worth Following
- Day 353A Life Changed
- Day 354How To Explain Bitcoin
- Day 355Explaining Bitcoin To A Skeptic
- Day 356Should I Tell My Kids
- Day 357The Close Recap
- Day 358The Share Email
- Day 359Reader Questions Part 1
- Day 360Reader Questions Part 2
- Day 361Reader Questions Part 3
- Day 362What Bitcoin Needs From Its Holders
- Day 363A Note On Price
- Day 364The Day Before The Last Day
- Day 365The Letter