Blockchain and Bitcoins 101

Tuesday, April 25, 2023, from 11:30-2:30 at the Cape Codder Resort and Spa

Jointly sponsored with the MIT Club of Cape Cod

 Phil Nehro, CFP at First National Corporation of Falmouth  Buy Tickets Now

In the last few years you've likely heard of the new entries into the confluence of money and technology; namely, Bitcoin and its brethren. These instances of crypto currency, short for the concept of cryptographic currency, gives you yet another vehicle that may be viewed as money, investment, or gambling. Phil Nehro, CFP, will give us a primer talk unraveling the unknowns around this new technology.

The provably correct computer science algorithm named blockchain forms the solid technological base on which crypto currencies stand. A provably correct algorithm is one thing; a reliable storage for your money is another. Any currency must be based on trust - we must trust that the chunk of gold with the king's likeness you give me is worth what it claims to be worth. We must trust that the green piece of paper with Andrew Jackson's portrait and the number 20 is worth what we've agreed is $20. Why should I trust that 1 Bitcoin is worth what you say it's worth? Let alone why trust that the further derivative called an NFT (non-fungible token) is worth what Tom Brady says it is? (Spoiler alert - better to trust that he can throw a winning touchdown pass than he can correctly value an NFT.)

Phil, based in Falmouth, currently works as Partner and portfolio manager, Chapoquoit Dynamic Portfolios division of First National Corporation. He has his BS in Psychology and MBA Finance from the University of Detroit. He also is a graduate of the University of Wisconsin Graduate School of Banking. Early in his career Phil was Assistant Vice President with the Federal Reserve Bank of Chicago. He subsequently worked at Salomon Brothers as a Vice President, then as Vice President of Alliance Capital Management L.P. and Executive Vice President of Alliance Capital Management Global Derivatives Corporation, then as Managing Director position with P. Schoenfeld Asset Management. 

Please register by April 19.  

 Click here for a flyer to mail in with your check