Bitcoin Forum

I've been asked by my friends and family if the bitcoin companies make its trading, how does it do?! really don't know what to say.. all I know is I invested, already earned the capital and now the profit.

There is no central authority behind bitcoin, it is a decentralized currency. The network is spread on millions of bitcoin users around the world and its price is determined by bid/ask.

Right, there are no bitcoin companys... Just try to google bitcoin and get some normal informations about it. You can't explain crypto currencys in a few words

you can always buy a piece of a bitcoin no matter how much money you have.

there a a lot of alt coins but no one knows wich one will be the next big thing

You can tell them that  Bitcoin is a decentralized ledger not controlled by any company. New BTC are mined by running an algorithm that randomly selects a new entity to add to the ledger.

Buying and selling BTC is the same as buying and selling anything else.

You, your friends, and your family has the wrong assumption of Bitcoin.
I suggest to start at the very basics by reading this article
https://blockgeeks.com/guides/what-is-bitcoin/

That article should explain the basics of Bitcoin, you can gain knowledge by browsing on this forum too, it has many great discussions that you can read and participate in :)

Yes there are companies that do trades - these are often called exchanges it most of them work with buy and sell orders. So we as users send our bitcoins to the exchanges and then since bitcoin is in the exchange system (so they can move it and do what they want with it) they give you an "imaginary" thing that you own bitcoins in fact your bitcoins are stored in some wallet of a particular exchange but balances and trades are recorded on the database of an exchange. When you want to withdraw your bitcoins then exchange will release coins to your desired address. Basically for trading you can look at it like trading stocks or some other asset in some sort, since you really don't need to understand how does it work - but keeping bitcoins on an exchange is not the option either tho since you need to trust the exchange that they don't run with your money.

But again as other said bitcoin doesn't have any central authority thats why if you lose your coins you lsoe them forever you can't ask anybody to reset your "account" as you can with PayPal for instance.

If you are looking to understand how does it work I'd recommend this free udemy course as it explains a lot: https://www.udemy.com/one-month-bitcoin/

Best is to ask more questions if you are not certain about other things, we are here to help you.

Be aware of SCAMS because there are many of them around since there are no refunds!

Yes agree with this statement, all cryptocurrency no main server or centralize control. All crypto just spread on blockchain and No Authorize Bank or Community can control Bitcoin or CryptoCoin. This the best revolutioner in Digital Era.