Bitcoin Forum

I am new to this new currency, can someone suggest me some websites to learn more about it?
~ranochigo

I would start out with the Bitcoin wiki (https://en.bitcoin.it/wiki/Introduction).

And then I'd look into something like a faucet rotator (http://faucets.cryptoplace.net) to get some free coins to experiment with. It will help with the hands-on part.

Have a look here: http://www.youtube.com/results?search_query=bitcoin+explained
Many informative videos that will help you understand.
Good luck and post if you have any specific questions.

Thanks for all your help, I would like to know if bitcoin mining profitable anymore? What is ASIC, where can i purchase one?
-ranochigo

You can buy ASIC miners In many online shops for example this one : https://www.mining-asics-technologies.com/ (this Is just an example) and Is mining profitable? I would just buy bitcoins and keep them instead of mining, because look bitcoin went up $80 in few days! If you have  10 or more bitcoins that's over $800 profit, that's why you should buy bitcoins and keep them till they rise. If you have a lot to invest cloud mining at cex.io could be profitable If you are trading your Hash while mining. I myself just keep bitcoins.

I'm 100% behind just buying Bitcoins instead of mining. Mining profitability goes down every single day. Bitcoins go up (not every day, but on average). It seems like a pretty clear choice. Mining is only worth it if you have a massive amount of money and feel like spending most of your time trying to maximize income.

I have around 2k to spend, how can i earn some revenue from that? since my electricity rates are really high.
-ranochigo

Buy Bitcoins. Seriously. It would be significantly more than that to get involved if you actually want to hit ROI (by more I mean 12k+ minimum). Anything under that and you're pretty much throwing money away. This is especially true with high electricity rates, since it means your income is dropping even faster.

Going to get some more cash now. Thank you for your help.  :)
-ranochigo

Remember, with every purchase there is a risk. Treat the BTC / USD market as the stock market. It can go up and down. There could be a massive sell-off of 1 million coins tomorrow, and quite literally take the market down at least 40-50%.

I learned it from the CBT nuggets videos and they are free too be sure to check them out. Good luck.

http://bitcoin.cbtnuggets.com/

It's worse than the stock market. This is basically a rogue area still. Anyone can do almost anything. There is no "insider trading." People can openly manipulate the market, etc. It's rewarding, to be sure, but it's also very dangerous.

I have saw a few price crashes, it is indeed quite risky. I'm going to use the funds that I don't need to use to buy some bitcoin. I think this is a risk I can take.
-ranochigo

i agree with buying because if you invest in generating you will make less and less each day. it's too far down the road to invest in sha256 asic unless you are going to drop $10k-50k and not expect ROI within a year

The best website where you can get all info about btc is there official website i.e bitcoin.org

bitcoin wiki and youtube  are my teachers  ;)

To be honest, this forum is the best source of information I have found. Someone linked the bitcoin wiki -- that is a great source -- and this sub forum is very helpful in terms of getting questions answered. I find the Bitcoin Discussion forum to be quite informative, and the Press sub forum keeps me up to date. Good luck!! :D

Thank you for all your response, I have read through the sources and learned more about bitcoin.  :)
-ranochigo

HOLO,NEWBIE,NICE TO MEET YOU. ;D

this is a great resource of information and easy to read and understand.

https://multibit.org/faq.html

Just spend time reading these forums. You'll pick up a lot.

http://www.michaelnielsen.org/ddi/how-the-bitcoin-protocol-actually-works/

You should read this explanation of the bitcoin protocol,
it's the best explanation i can find on internet at this moment.

Also check Bitcoin wiki (https://en.bitcoin.it/wiki/Protocol_specification) if you want to further expand your understanding
of Bitcoin protocol.

thanks

nice information I was searching like this.

You are on the best site to learn about Bitcoin. You might also want to check out Reddit and the Wiki FAQ: http://www.reddit.com/r/Bitcoin/ and https://en.bitcoin.it/wiki/Faq

I think you need to read about the BTC on this forum and then try to mine

Every bitcoiners should read the whitepaper prepared by satoshi :)
You can find it here. https://bitcoin.org/bitcoin.pdf

We need a newbie version of the whitepaper though. I followed through with that and ended up lost on multiple parts. I do understand it a lot better than before reading it, but we really need something that puts it into terms newbies can understand, :p.

I agree that a more newbie-friendly version of the whitepaper is needed. I went almost a full year being on this forum, trading bitcoin and altcoins, etc. without ever reading it, because it was so technical. I'd love to see a "for dummies" version, hehe. :)

How do you learn more about anything? Read read read. Knowledge is power  ;).

You can learn more latest information here in this forum, this is the good place to learn about bitcoin

I have gathered and learn alot from this community and various websites, thanks for your suggestions!
-ranochigo