Jul 30, 2026 · 11 min · 10 segments
You want to buy Bitcoin but you have no idea where to start. This is the only episode you need. Most people who want to buy Bitcoin have the same questions. What actually happens when I press buy?…
Myles DhillonHost
Okay, before we get into it, I'll just do 90 seconds on what Bitcoin actually is because I think it helps to understand what you're buying before you buy it.
He's a researcher who explained Bitcoin to the US Congress and he said something that always stuck with me that will help you understand a little bit more.
He said, "'Bitcoin is not yet perfect, but neither was email when it was invented in 1972.'" That timeframe, that unlocked it for me because in 1972, email was clunky, slow, no one even heard of it.
Most people thought it was just a toy to send messages between two government organizations.
So what does it actually do? It lets you send and receive value to anyone in the world using nothing more than a phone and an internet connection.
And before Bitcoin, if you wanted to send money to someone digitally, you needed a bank to open their books and move numbers around on your behalf.
The transaction goes directly from you to them recorded on a public ledger that nobody owns and nobody controls.
And before Bitcoin, this wasn't possible because it wasn't possible to trust somebody else unless you had a bank in the middle.
And the fact that it works at all is genuinely one of the most significant computer science breakthroughs in history.
Okay, before we get into it, I'll just do 90 seconds on what Bitcoin actually is because I think it helps to understand what you're buying before you buy it.
He's a researcher who explained Bitcoin to the US Congress and he said something that always stuck with me that will help you understand a little bit more.
He said, "'Bitcoin is not yet perfect, but neither was email when it was invented in 1972.'" That timeframe, that unlocked it for me because in 1972, email was clunky, slow, no one even heard of it.
Most people thought it was just a toy to send messages between two government organizations.
So what does it actually do? It lets you send and receive value to anyone in the world using nothing more than a phone and an internet connection.
And before Bitcoin, if you wanted to send money to someone digitally, you needed a bank to open their books and move numbers around on your behalf.
The transaction goes directly from you to them recorded on a public ledger that nobody owns and nobody controls.
And before Bitcoin, this wasn't possible because it wasn't possible to trust somebody else unless you had a bank in the middle.
And the fact that it works at all is genuinely one of the most significant computer science breakthroughs in history.
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