This video is part of an educational series where “The Dogefather” Jackson Palmer explains the basics of cryptocurrency and its surrounding issues. Interested in getting into Bitcoin, blockchain or other digital tokens? Tired of being confused every time those words appear? Watch these short clips and you’ll have a much better idea of what’s going on.
Also watch: Episode #2: What’s an ICO?
Episode #3: What’s Going on With Bitcoin Scaling?
Confused by the great Bitcoin Scaling debate, or does it keep you up at night? What’s SegWit, the UASF, and what’s it all have to do with block sizes? Why does Bitcoin need to scale anyway?
In his latest “Crypto Explained” tutorial video, Jackson explains how Bitcoin in its current form can only process three transactions a second. That sounds like a lot till you realize VISA claims it handles 56,000.
Bitcoin is getting more popular every day and you’ve probably noticed, transaction fees are going up too. Attach too small a fee to your payment and it might not go through at all. Is that how Bitcoin was supposed to function? How could we make Bitcoin bigger? Well… that’s the controversial part. We don’t know for sure what will happen — but it could either improve Bitcoin or destroy it, so you probably should know the deal.
Watch the video and, as always, you’ll know a lot more than you did before.
Who is Jackson Palmer?
Jackson Palmer is well-known in the cryptocurrency world, mainly for creating Dogecoin in 2013. Based on an internet meme featuring a shiba-inu dog, DOGE was intended as a community-oriented money for people who didn’t want to take their blockchain too seriously. Around since 2013, Dogecoin has a cult following and at several points in its history, has had a serious nine-figure market cap.
Jackson’s “regular” job is Group Product Manager, Creative Cloud Entertainment at Adobe. He lives in the San Francisco Bay area.
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