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Follow along with the video on twitter @missourilion

(financial) Discipline equals freedom

Very recent technological developments have enabled a new kind of internet platform in-which the user owns / controls their own data, property, money, and level of involvement in the system. We are calling it Web3

The goal of this presentation is

To demystify concepts like crypto and web3.  

To clearly explain real world use cases,

including how to use crypto for wealth building.

To clearly explain how the transition works.

and to directly help people get through the basics smoothly.

Before 2009

Money left the gold standard in 1933. The internet has grown into a thing of its own.  How do we create giant platforms without the negative side effects that we clearly see now from the current system? The dream of decentralization exists. Though a serious computer problem remains.

After 2009

Bitcoin is released by an anonymous source, solving the seven generals problem. Now over a decade later, it remains a proven store of value. 

21 million BTC are all that will ever exist.

Proof of concept

While bitcoin had solved the byzantine fault tolerance problem, it was clearly just the beginning. The internet now has many layers, each have their own native token and personality. 

Full digital takeover

Finance is the first sector that crypto must integrate because all of the other industries will require a fully mature digital finance infrastructure in order to justify taking the leap into web3.


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Important Terms

Airdrop

Bear / Bull markets

Alt-coin

A reward delivered directly to a crypto wallet. Typically sent directly from the project hosts.

Alt-coin

Bear / Bull markets

Alt-coin

Any crypto-currency project which operates entirely inside the eco-system of a larger crypto platform.

Bear / Bull markets

Bear / Bull markets

Bear / Bull markets

Bear markets are down and look bad, also called a dip.

Bull markets are up, optimism is high.

Blockchain

Cold Storage

Bear / Bull markets

Decentralized ledger technology allowing for trust-less digital transactions.

Coin

Cold Storage

Cold Storage

Crypto asset specialized for use as currency.

Example: peer-to-peer transactions

Cold Storage

Cold Storage

Cold Storage

Storing digital assets in hardware not connected to the internet. This is extremely safe if you trust your gear.

Crypto

Crypto

Crypto

General term for many different types of digital assets.

Defi

Exchange

Defi

Decentralized finance; term for modern banking: the main difference is the location of the data and mechanisms of power available.

Dapp

Exchange

Defi

Decentralized application; cloud based software that can be accessed from any device over the internet. login by connecting a wallet.

Exchange

Exchange

Exchange

Digital market where the value of crypto assets are tracked, and can be bought or sold.

Farming

Farming

Exchange

The act of harvesting yield.  Typically generated from a type of staking.

Fuel

Farming

Fuel

Crypto asset specialized for powering smart contracts.

Fiat

Farming

Fuel

Government issued currency. 

Governance

Governance

Governance

The type of voting mechanism available in a given system.

HODL

Governance

Governance

"Hold On for Dear Life". this whimsical term is commonly used to describe a typical long-term investment strategy.

KYC

Governance

LP (Liquidity Pool)

Know Your Customer - Credentialing process required to create a wallet: much like starting a bank account.

LP (Liquidity Pool)

LP (Liquidity Pool)

LP (Liquidity Pool)

these are matched pairings of coins, digitally bound together.  Holders create and stake LPs to return for yield, or other benefits.

Main-net

LP (Liquidity Pool)

Main-net

An active, live, running crypto network.

Mint

LP (Liquidity Pool)

Main-net

When an original token is generated; it has been minted. Buying an existing token is not minting it.

NFT

NFT

NFT

Non-fungible token. Unique tokens with trackable metadata that can't be deleted or copied.

Private Key

Pump and dump

Private Key

This is the most important password, and the only way a wallet can be recovered from scratch. NEVER SHARE THIS

Public Key

Pump and dump

Private Key

This is to be shared. The address (hash) can be used to send you the currency it is associated with.  Often you also have to be on the correct network to send certain tokens.

Pump and dump

Pump and dump

Smart Contract

When the controllers of a crypto project, or coordinated outside forces drive the price of the coin way up intentionally just to sell their investments right at the peak.

Smart Contract

Smart Contract

Smart Contract

Piece of software running on a blockchain.

Stable Coin

Smart Contract

Stable Coin

A crypto currency that tracks the value of a fiat currency.

Staking

Smart Contract

Stable Coin

Locking crypto assets into projects for a certain length of time in exchange for the offered rewards or perks.

Test-net

Test-net

Test-net

A simulation used to test a crypto network before the main-net launch. Fuel is given free from a "faucet" for testing, these have no value besides for R&D.

Token

Test-net

Test-net

Crypto asset specialized to have unchangeable intrinsic value.

Wallet

Test-net

Wallet

General term for a digital account that stores crypto assets.

Whale

Yielding

Wallet

A user with a giant amount of crypto assets; so much that when they move their token around it causes noticeable market fluctuation.

Yielding

Yielding

Yielding

Earning crypto in the form of APR or APY rewards from staking.  APRs are set / APYs are traffic dependent.

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