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I'm new just today, but have really been very happy with the quality of replies I am seeing and getting, a great community you guys have built! 

So, let me move on to a more complex set of subjects for me to learn about.  My understanding is that the Bitcoin Ecosystem uses three encryption methods:

-- SHA256, a hash-function, see link for what I know (not much) here: /lq667xz]http://[Suspicious link removed]/lq667xz.  Play with that hashing function here at this fun little place: http://www.xorbin.com/tools/sha256-hash-calculator.  (I will learn some more about hash functions as time permits.)

-- I believe an Elliptic Curve Encryption method is used as well: http://kakaroto.homelinux.net/2012/01/how-the-ecdsa-algorithm-works/, this link was given to me by zerohedge.com member "zaphod", but I have not had a chance to go look into it, zaphod said it was complicated...

-- "RIPEMD160" (which I believe is another hashing function) is also used, but I know essentially nothing about it other than wikipedia's entry.

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1)  Is my information correct?

2)  How do those pieces all fit together?  (Or is this question waaaay complicated ??)

3)  Is there a nice tidy little place where I can read up on these three?

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DeathAnd Taxes:  Yes, I have read a LOT of things about BTC that are untrue!

SirWilliam:  OK, roger that.  Would that be like "Less is more?"  (smile,,,)

Soros Shorts:  If you can solve a Block more quickly, DO let me know how.  Oh, wait, I don't mine.  (But, I know someone who does.  You tell me that little secret someday, I promise I will only let him know.  Honest.  Really.   )

EDIT:

Thanks to you as well Jl2012.

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Newb here, but I really enjoy the time spent here today.

I recall reading *somewhere* (maybe three months ago?) about counterfeit BTC, perhaps on some site talking about the "Dark Net", etc.  These counterfeits were going at something like 50% off of market price, I am sorry I do not have a link.

I just "googled" counterfeit bitcoin and got some links that do not seem to be what I read before, here is one, but "quora" wants your info...:

http://www.quora.com/Bitcoin/Wont-it-be-easy-for-hackers-to-create-counterfeit-Bitcoins

 

Here is another link from Google search, but this (while perhaps answering my question) is NOT related to what I read...:

http://bitcoin.stackexchange.com/questions/181/can-bitcoins-be-counterfeited

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My understanding (I have done about 10 transactions with BTC, and watched them go through via Multibit) is that if your BTC are not accepted by the peers, then the transaction does not go through.

So, it is not clear to me that BTC could be counterfeited successfully at all.  Yet, I DID read something about "counterfeit Bitcoin" somewhere and am curious.

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Thanks to all of you.  I am about to go on a trip, and yet I may buy some Au while I'm away.

Because goldsilverbitcoin.com had a 5 day or so delay, here is what they sent me:



(I hope the picture is not as BIG as in the Preview, ah, newb here...)

The smaller piece is the 0.25 oz Gold Eagle.  For the bother, he sent along the (larger piece) Canadian Silver Maple.  He did not have to do that.  But, I always like to have more than one source for my Au.

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Some partial antidotes to a FUBAR world economy:

-- Gold (some silver and/or platinum OK too), well hidden
-- US$ physical cash, well hidden
-- BTC, into at least two - three wallets (not at exchanges)
-- "Survival Stuff" for those so inclined (guns & ammo, water & food, first aid kits, etc.)

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I once bought a 0.25 oz Gold Eagle from goldsilverbitcoin.com.  Everything went OK, short delay, but worked out just fine.

Who else sells gold for BTC?  (USA)

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Me interesa saber si hay un mercado en el Peru (para comprar cosas con mi BTC) alli.

Gracias!

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I use Multibit client and blockchain.info (latter for when I have travel without my laptop).

Both have worked just fine for me.

There are two ways I have bought Bitcoin:

1)  Find a local via localbitcoins.com.  I used the service to just get names & emails, then contacted them privately by email (that is, not within the localbitcoins site).  I bought for cash in person.  At Starbucks (of course).

2)  Go to popular places (like here or zerohedge.com), provide an email and ask who will accept CA$H for BTC by mail (snail-mail).  This requires some trust...

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The advantages to each of the above are that you leave no wire-transfer trail...  

I have bought BTC at least two times using each method above.  YMMV!  Good luck!