Bitcoin Forum

https://images-na.ssl-images-amazon.com/images/I/41AghtmRPvL._SX329_BO1,204,203,200_.jpg
https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861
The Bitcoin Standard: The Decentralized Alternative to Central Banking

From the reviews I've read that it's too good. It generally talks about value, not only about bitcoin. Has anyone read it here?

Indeed you are a new guy so read this
https://bitcointalk.org/index.php?topic=1689727.0

Desist from making this sort of post. If you seek interest on everything Bitcoin the read a lot of Bitcoin books, afterwards you would have a better question to ask Than this, your questions would become more specific cornering Bitcoin matters. Also read on matters of the forum to guide you

Honestly I didn't read that books

Looks like that's book have free ebook version here, so you can read the book without buy it  :D
Just check his thread   [RESOURCES] Free bitcoin/blockchain/finance eBook (https://bitcointalk.org/index.php?topic=5238586.0) , he also share free many ebooks about bitcoin, finance and blockchain.


He is not a new guy, he was register in this forum on March 04, 2020, 07:39:01 PM.
I think it's doesn't matter if he ask like this, since this board is for beginner who new about forum or bitcoin

Wow, thank you for the link. He really has uploaded the pdfs online in drive. About that if I'm new here, no. I'm not new at bitcointalk, but I'm new at learning crypto. I just had created an account, and then didn't do much research.

Have you read the most classic bitcoin books first?
Mastering Bitcoin and Internet of Money are the most popular bitcoin books out there, and they are very good. You can read mastering bitcoin for free here:
https://github.com/bitcoinbook/bitcoinbook

mastering bitcoin is all about the technical aspect of bitcoin (keys, addresses, network, cryptography, security,...). OP seems to be looking for the economical aspect of bitcoin though according to the book he linked.

Well I have some questions like "Why does bitcoin value?", "How does mining gives you bitcoins? I mean, why these hard math solutions worth something?", "Why is there a fee when I want to send a bitcoin? Does miners get that?", "Who confirms that I transfered bitcoins so it can be written in the blockchain? Are they just 6 random guys?".

But I want to master my bitcoin knowledge. I want to fully understand all the cryptography behind this. I want to know what that genius, @satoshi, thought back then.

I hope you know now, what am I looking for. I think I came to the right place.

mastering bitcoin will cover the technical parts and you will get the answer to most of your questions about mining, reward, confirmation and cryptography behind bitcoin. reading the introduction and how bitcoin works chapters should get you started.

but some questions such as "why does bitcoin have value" is not easy to answer and i don't think i've seen it anywhere. basically the reason is because bitcoin has utilities that are well needed. the ability to transfer money from one place to another around the globe in matter of seconds by paying a miniscule fee and without needing any middle man such as banks is worth a lot.

Yes but why 6,193.81 euro today and why not 10.000

I mean it's price is changing too often. I read that bitcoin is like a bubble. Do you believe that some day it will worth 0$ or 100.000$?

Many reasons come to mind, one very conspicuous one is the current global crisis that is affecting the economy, loss of money and loss of jobs has led people to panic and sell off their bitcoin, to settle needs and when a large number of people sell and convert to fiat, there is less demand and it reduces the price. It would only go up when more people are interested in bitcoin(adoption), that would mean more supply and that'll result in an increase in price.
The price changes often, it's due to volatility, and stability would come, but that will happen as time goes on.
A bubble? Not at all; if it is, it's a bubble that won't burst ;D
$0? That's not possible
$100,000? Too optimistic to expect that price

---

Edit: If I say yes, or if I say no; I'll just be speculating and it's a dangerous thing or message to pass on to newbies, they can be lured into investing wrongly. The price can rise before/after the pandemic is over, it can also fall more before the pandemic ends; nobody can accurately or correctly predict it.

Do you think that after the coronavirus crisit, the price will rise?

that is a different question than why bitcoin has value though.
"how much price" is mainly related to the supply and demand and also the way the market works.
i believe that bitcoin will continue to rise because as i said it is very useful and as its is adopted by more people the demand increases and with the limited supply price will continue to rise until we reach mass adoption.

ps. those who call bitcoin a bubble are either referring to a very short amount of time such as last month of 2017 that price did actually enter a big bubble in which case it is only true for that period.
or they are trying to spread FUD and scare other people.

No, no I don't want that. I just read the bubble reference on a wikipedia article (I think).

So if we reach that mass adoption you said, do you believe the price will get increased or decreased and why?

Mass adoption means a lot of people will be buying and using BTC, right? Or just using it completely (send BTC to the groceries shop, the groceries send to the supplier, the supplier sends to the farmer, etc...) which means, less people selling for fiat (USD/EUR) since they do not need that. And like said above, BTC price is correlated to the supply and demand of the market, so the answer is: increased.

Keep in mind that this is not something exclusive of Bitcoin. And if you want to understand what moves the price of BTC in the first place, you need to understand this. Take a look at this link: https://www.investopedia.com/terms/l/law-of-supply-demand.asp

I would say reading books about bitcoin is strongly recommended just like what they say knowledge is power, but personally I don't really like reading books and I could sure I'm pretty knowledgeable in bitcoin or trading, etc. with that I could say that having this book is not required to join the bitcoin community or cryptocurrency but what is sure is you are going to get a lot form that book.

I guess reading online was also a good option since you don't really need to buy or put money in it. But if your a book person or someone that can concentrate more if he reading a book I guess buying the book is better.

you could also check this thread of Maus0728 :

https://bitcointalk.org/index.php?topic=5238586.msg54194205#msg54194205

I think Internet of Money have some more information about those economical aspects of bitcoin. He could give a try.



All those queestions are answered in Mastering Bitcoin book that I told you earlier.

Bitcoin has value for many reasons, one of them is scarcity and the adoption. There are millions of people using the network.

It is called proof of work. Miners make a service, which is: secure the network, choose which transactions should be confirmed, create new blocks, etc.

I made a brief summary about proof of work here https://bitcointalk.org/index.php?topic=3317586.msg34646752#msg34646752

THere is a fee for transferring because nothing is free in this world. Miners are working to confirm your transactions, so it is fair that they receive a fee for that service.


No, they are the miners. Thousands of them out there. Anyone with a computer and internet connection can be a miner

Thank you for your answers. About that. Did satoshi created a software so we can mine? From pc.

That is exactly what satoshi did. This software is called bitcoin core, which there is a link here in the upper part of the forum's website:

That software is a full node wallet. It will download the entire blockchain, which is about 250Gb.

But you can use lightweight wallets, such as Electrum.

So if I understood correctly. Electrum is a wallet that reads the blockchain from a server of its own (so I don't need to download the 250gb file) and when I want to send BTC to someone else, the checking is happening from that blockchain.

I have 2 questions for you mate.

1) Where does it download the blockchain file? Bitcoin.org?
Image: https://i.imgur.com/NyyNdOp.png

2) While sending the bitcoins, does it sum all of my transactions in the blockchain to see if my BTCs I'm telling it to send exist?

You can download it at https://bitcoin.org/en/download
But I recommend that you try electrum first, which is easier to use. Download only from https://www.Electrum.org


Yes, of course it does.
You can check any transaction that every happen in the blockchain network here:

https://blockchair.com/

For example, this is a blockchain address with some transactions:
https://blockchair.com/bitcoin/address/bc1q9adplt3j4gkxptejwnrm57xu2nm6suayuks7ec

No I mean when I download and install the bitcoin core, is there a link that downloads the blockchain? Like bitcoin.org/bitcoin/blockchain.txt
If it's a txt file, it surely won't be able to be editted from any pc. It will need a Powerful CPU.

Also the miners must read from my blockchain file? Isn't this making the network too slow... I mean every miner must read the 250gb file of every address they find?

Am I correct or wrong? Cause I think I have misunderstood something...


So the blockchair basically has the blockchain file and does the known Ctrl + F to find the address you are looking for?

Thank you for exploring my thread. You can download and read all of them according to your interest. I'll be updating the thread and will add another set of book sooner or later. It is nice to see that lots of people who are new in the technology are interested in self learning.


Most of the answers can be very argumentative especially when people are against bitcoin. Originally, currency has does have value because people believe that it can be some sort of "store of value" which means the exchange rate is not fluctuating in short period of time and can maintain its value.

Moreover, people believes in bitcoin because of its characteristics similar to gold such as scarcity, divisibility and especially decentralization. However, a bitcoin non-believer thinks that bitcoin has a value because they are hoping that when they bought bitcoin now and wait for about few years they will profit a large sum of money, it may sound negative but many people I know personally think of this why bitcoin has a value.


Primarily, the main goal of miner is to secure and verify the transaction in the network and the reward (bitcoin from 21M supply) is based on "Proof of Work" that needs a lot of computing power.

You can find the answer of question by watching Andreas Antonopolous here: Bitcoin Basics Workshop (https://www.youtube.com/watch?v=FYo5E7zT-vM&t=194s) and this Is Bitcoin the Future of Money? Peter Schiff vs. Erik Voorhees (https://www.youtube.com/watch?v=q8R71WGO3qU)

Watched videos first to get at least the hang how bitcoin works. Reading a books especially mastering of bitcoin is not good for people who are just starting, that book deal a lot with technical discussion which are mainly intended for programmer.

Read the internet of money if you want some of the philosophical and economical explanation of bitcoin. Those books are goods start.

Thank you, @Maus0728, great answer. I will do much research. Why bitcoins are 21 Million is another question that I will try to solve, because I've already said, bitcoin is something really interesting to me.

I've found this thread interesting, if you are familiar in derivatives and integration, (technical process in mathematics) you can at least understand the equation stated in here. This equation tells how bitcoin acquire its value.

What is giving Bitcoin its value? The ultimate answer is: Skin in the game (https://bitcointalk.org/index.php?topic=5174190.0).

I've found this thread interesting because it somehow translate the term "trust" into a mathematical equation.

I would start off seeking context rather than nuts and bolts.

The best intro to the early history along with a fairly brief overview of how it works and why it was invented is Digital Gold by Nathaniel Popper. It gets boring and irrelevant later on but the first bit is very good.

Diving immediately into something that goes into heavy economics or computer noodling would glaze my eyes over at least.

When I started learning about bitcoin I never read it through books, I usually learned through this forum and several articles on Google about Bitcoin, cryptocurrency and about blockchain technology.

If you have a big interest and want to read it in a book and buy it, I really appreciate it. Maybe you can buy a book that has all the knowledge you need about bitcoin and blockchain technology in one book. there are many books to choose from.

And you have shared us many of these paid books for free. Take a merit just for respect.

Hi there. Starting something new with books is always a good move. I just want to introduce a really ncie book which I have read recently. You can take it into consideration besides your "The Bitcoin Standard".


Link for the ebook can be found here: https://www.amazon.com/Bitcoin-Cryptocurrency-Technologies-Comprehensive-Introduction/dp/0691171696

It is best used in combination with videos of lectures from Princeton experts. They are freely shared on Priceton's website: https://bitcoinbook.cs.princeton.edu/.

It's so enjoyable reading and learning in quarantine time.

i suggest you go read online articles , and also interact with other people in this forum because they have more experience and knowledge about bitcoin,
their actual experience is very helpful, and you will find more tips unlike books, also try to know where you can excel better, in this field , bitcoin can be mine, so try to go to mining section, trading so you have to decide where you are going.

Well book is really essential because all information in the book are really true and really informative os if you have money to buy than go for it. It will benefit you unless you read it.

But actually there are alresdy some information online that you can read for free, there are so many websites offering online course about vryptocurrency, there are also some blogs about cryptocurrency, just be patient on finding the right one or the legit information because there are still some fake websites or fake information online.

I think I will do what @akirasendo17 said. People here can help me a lot. All these thousands discussions are helpful. Googling a crypto-question shows results of bitcointalk, so why not staying here? My questions will be solved.