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What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.
Bitcoins are electronic currency, otherwise known as 'cryptocurrency'. Bitcoins are a form of digital public money that is created by painstaking mathematical computations and policed by millions of computer users called 'miners'. |
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I believe that they're popular mainly because well it was the first of all cryptocurrencies to be made. Honestly most of the other coins are scams and greedy ways that the developers make money. The only other coin I can think of that isn't a scam are dogecoins! What do you think?
because for me Bitcoin has already shown why this is the most popular cryptocurrency) For example, it is how much we have improved our world especially financial transactions for the last decades. Think that "new politic of cryptocurrency" will only make more strong the countries with developed economy. |
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Bitcoin is difficult to explain. I also felt difficulties in understanding bitcoin for the firs time. Let's share how to explain bitcoin to children of teenagers. In My country I can say 98% children don't know bitcoin. In fact, bitcoin can be future money. If the children not familiar with cryptocurrency or bitcoin, how can they face the digital era in the future.
i will explain to them a full information about bitcoin and i said to them that im earning a money in bitcoin. |
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I personally know quite a bit about Bitcoin. However, this thread is for the community here. The idea is every post should contain NEW info which hasn't previously been posted in this thread.
For example, I will start with the obvious: Bitcoin is internet money
Is this a perfect explanation? Of course not. This is where you come in.
Please post the most detailed aspects about Bitcoin you know, without repeating any info previously posted in this thread.
The idea is as we scroll down, the discussion should get continually more complicated as we dig further into the technology, development, history, etc.
Make sense?
So I will repeat the starting point: Bitcoin is internet money
for me Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems. |
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Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.
Bitcoins are created from a process called bitcoin mining Mining is the process of adding transaction records to blockchian, a public ledger. |
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Why did Satoshi hide his identity? Has anyone seen Satoshi in real life?
Is Satoshi one person? Or is it a community?
I'm not him, so I don't know. Watching what is happening to the poor guy Newsweek attacked last week, it looks like it was a good decision to remain anonymous. There is so much misinformation in the media, regarding Bitcoin, I don't think I would want to be in a position where I was expected to defend my creation over and over again. |
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Hello, I've been hovering around bitcoin for months and I want to become an expert in it. What resources are available and what steps can I take to know all there is to know about bitcoin and possibly reproduce the technology involved.
Thank you.
to become a bitcoin expert you should read something about in this forum because this forum is very helpful. |
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Do you think that sometime in the future, Bitcoin might overcome Paypal, as it scales in capacity and userbase over the years? We already have the ability to create our own marketplace with OpenBazaar, that uses Bitcoin as its payment method, so it should be no surprise that the combination of these two may be a fierce competition for both eBay and Paypal. Nevertheless, feel free to vote on the poll above and express your opinion about it, if desired.  For me i dont think so. There are still so many people don't know about bitcoin, in the other hand, many people know what paypal is. |
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This is pretty much the whole story right here... " NIFA official Li Lihui told a technology conference in Shanghai on Friday that a goal of China’s monetary regulation is to ensure that “the source and destination of every piece of money can be tracked.” " Bitcoin is the mortal enemy of ' tracking'. Therefore China is going to continue to assault Bitcoin from every angle. You can be sure of that. for me maybe why china hate bitcoin it is because Chinese are really business minded people. Cryptocurrencies bypasses tax in products which means lesser profit for them. Another thing is that online stores are ran by different foreign group; if their citizen choose to buy online than in their local stores, that means more money will be going out than coming in to their country. |
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This is pretty much the whole story right here... " NIFA official Li Lihui told a technology conference in Shanghai on Friday that a goal of China’s monetary regulation is to ensure that “the source and destination of every piece of money can be tracked.” " Bitcoin is the mortal enemy of ' tracking'. Therefore China is going to continue to assault Bitcoin from every angle. You can be sure of that. for me base on my research about why china does hate bitcoin because It has launched its own digital currency research institute with a director who openly talks about its design possibilities with publications such as CoinDesk. |
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Many people need big proof to satisfy that this site is legit ..whats the best way to convince your relatives or friends
for me to convince people with me using bitcoin is to give them a good information about bitcoin and i tell them that im earning here. |
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I know you will tell me is Satoshi Nakomoto, in fact it`s not true. The only true is the username.
All technology what ordinary people use today was designed for military purposes.
EG : CPU, Digital Camera, GPS, Internet....
Maybe Blockchain was designed for this purposes olso ?
What do you think about that ?
Base on my searching on internet who created bitcoin is Satoshi Nakamoto is the name used by the unknown person or persons who designed bitcoin and created its original reference implementation. |
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I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?
If I want to buy stocks or invest money I can easily invest with real $. Why would I convert my $ to bitcoins?
If I want to gamble , I can simply gamble on websites that require $ as currency, why would I convert it to bitcoins?
What's the difference between Bitcoins and dolars? What does bitcoin bring to the table that real $ don't, less taxes, more income?
On my own opinion Money is what we use every day to pay our liabilities, and this includes currency and, to a much bigger extent, our bank account. And bitcoins are considered the new digital currency and just like real money. It can be bought over the internet as well as it can be used to purchase items from different online businesses. |
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I have think of it and i have save up bitcoin just a the small amount because i have plans for it to have fun like travelling didn't even save it for future purpose. so i wanted to know what are you going to do with your bitcoin if you save bitcoin. Why do you save bitcoin for? and why? what is the purpose why you save up bitcoin to your wallet and not to spend it.
both because i save bitcoin for my fun and also for my future purposes because i want to be happy and doing get together with my friend and i want to save bitcoin for my future purposes because maybe when i have a children someday i will use my save bitcoin for they future. |
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I have think of it and i have save up bitcoin just a the small amount because i have plans for it to have fun like travelling didn't even save it for future purpose. so i wanted to know what are you going to do with your bitcoin if you save bitcoin. Why do you save bitcoin for? and why? what is the purpose why you save up bitcoin to your wallet and not to spend it.
For me i save bitcoin both fun anf for future purpose. Fun why because i come out and get together with my friend and future purpose why when im having a children someday i will use my save bitcoin to them in studying. |
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Would you accept bitcoin as your salary in your profession, especially if you work in other country?
For me yes I will accept bitcoin because we can exchange it in our local currency.
me too i will accept the bitcoin as a salary for regular job because we can exchange it in our local currency. And come to think of it, if Bitcoin will be the new form of money in the Philippines we don't need to deploy Overseas Filipino Worker (OFW) outside the country due to the fact that they can earn more money for their daily needs. |
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What would you do when you're talking to someone but then he suddenly talks about his hatred on Bitcoin, what would you react to it?
I've never actually experienced anything like this before, I just want to be prepared when it happened to me.
for me I will ask them why they do not want to bitcoin but it's not bad to say that it's not hard to do so when they say it's hard to do it I'm going to say it's a matter of your decision that just as I know myself that there is nothing wrong with it. |
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We all know the advantages of BTC, but what are some of the disadvantages??
Well one that i can think of is that it is still not perfectly anonymous. Personally i'd like to see bitcoin evolve into the future into something like XMR with essentially in built coin mixing. This is probably not necessary but rather an add on. Another thing is that, fees are often high. Also, blocks are 10 minutes on average in between so that means you're probably not going to be able to get stuff irl instantaneously without the merchant having to trust you. for me this is another disadvantage of bitcoin No Valuation Guarantee Since there is no central authority governing Bitcoins, no one can guarantee its minimum valuation. If a large group of merchants decide to “dump” Bitcoins and leave the system, its valuation will decrease greatly which will immensely hurt users who have a large amount of wealth invested in Bitcoins. The decentralized nature of bitcoin is both a curse and blessing. |
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what do you think about this topic?
I think it is right because we all know that bitcoin nowadays are very popular and many people are using it because they know what is the value of bitcoin and they also heard a lot about it in others and they trying their luck to have a goo income and be a millionaire in the future. And ofcourse they also use it because the knew it has many advantages. I think yes because even at home you can earn a lot of money in posting just as long as you have patience and effort and just think that you will earn money on bitcoin. |
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Sa totoo lang wala kong idea sa kung anong gagawin dito pero nagpapaturo naman ako sa kaibigan naingget kasi ako sa kanila sana matutun ko din to madali lang naman daw to e |
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