The more I read, the more confused I become...

[polymathpangram]

Hi folks.

All I really want to do at this point is start using BTC. I've managed to make some payments on my desktop to some subscriptions I have, donations etc., but things just seem inconsistent somehow.

Anyway, I have about 1 BTC, and want to start accepting BTC as payment for my piano tuning and repair business (not that I have any clients currently using BTC, but hey). Man, I just don't have the technical aptitude to even understand some of what seems to be common, basic know-how in the BTC ...community (couldn't think of a better word). It could also just be brain atrophy. I'm getting older, you know?

For example: do I really have to enter my address and key manually to make a transaction? On my desktop, a QR pops up if I'm making a payment, and viola! Easy! But sometimes it looks like I have to enter my address manually - I think? Hell. I don't get it.  And what the heck do I do what that long string of random words? Is that QR on my paper wallet what I use to receive BTC as payment? I printed out a few paper wallets - all of which I thought were for the same address / account / wallet (is there a difference?), but if I remember correctly, they were all different. Extra confused.

I've scoured youtube for tutorials for beginners, but even they were pretty esoteric it seems.

Any positive feedback at this point would be great. I've been struggling with this for months now...

Thank you!

[VirosaGITS]

Hi folks.

All I really want to do at this point is start using BTC. I've managed to make some payments on my desktop to some subscriptions I have, donations etc., but things just seem inconsistent somehow.

Anyway, I have about 1 BTC, and want to start accepting BTC as payment for my piano tuning and repair business (not that I have any clients currently using BTC, but hey). Man, I just don't have the technical aptitude to even understand some of what seems to be common, basic know-how in the BTC ...community (couldn't think of a better word). It could also just be brain atrophy. I'm getting older, you know?

For example: do I really have to enter my address and key manually to make a transaction? On my desktop, a QR pops up if I'm making a payment, and viola! Easy! But sometimes it looks like I have to enter my address manually - I think? Hell. I don't get it.  And what the heck do I do what that long string of random words? Is that QR on my paper wallet what I use to receive BTC as payment? I printed out a few paper wallets - all of which I thought were for the same address / account / wallet (is there a difference?), but if I remember correctly, they were all different. Extra confused.

I've scoured youtube for tutorials for beginners, but even they were pretty esoteric it seems.

Any positive feedback at this point would be great. I've been struggling with this for months now...

Thank you!

Enter manually... what do you mean? Typing it down? You can just scan a QR code if your wallet allow it or copy paste the address. There is no way you should ever type down an address manually.

For accepting payments in BTC' well thats cool if you have customer that use BTC. Just set an exchange rate and have people scan your QR and send you the money, check online that its properly sent.. done.

The long string of word is your private key ^_^" pretty much. If they're from a proper wallet, even If you lose everything and re enter those words, you'll get your bitcoin.

I invite you to ask direct questions here. Ask them in a clear way and you will get clear answer. Ask away, don't be shy.

[polymathpangram]

Thank you!

OK, I'm going to mess around with things a little, maybe I'll try setting up a second wallet and practice sending small amounts between them to see what troubles I encounter, then I'll post back here for help - probably tomorrow.

Thanks again!

[Furio]

Thank you!

OK, I'm going to mess around with things a little, maybe I'll try setting up a second wallet and practice sending small amounts between them to see what troubles I encounter, then I'll post back here for help - probably tomorrow.

Thanks again!

Most websites now also use an application for bitcoin payments, you click on the address and it automatically gives a send order in your bitcoin wallet which you only need to confirm and enter the password. Also a tip, dont use a simple password, use strong long passwords if you want to keep your bitcoin

[kpitti]

Hi folks.

All I really want to do at this point is start using BTC. I've managed to make some payments on my desktop to some subscriptions I have, donations etc., but things just seem inconsistent somehow.

Anyway, I have about 1 BTC, and want to start accepting BTC as payment for my piano tuning and repair business (not that I have any clients currently using BTC, but hey). Man, I just don't have the technical aptitude to even understand some of what seems to be common, basic know-how in the BTC ...community (couldn't think of a better word). It could also just be brain atrophy. I'm getting older, you know?

This is great opportunity. You need only your wallet to be setup and then you are ready to generate address which will be used for payment of your service. Provide this address to your client and then just check when Bitcoins arrived to your wallet.

For example: do I really have to enter my address and key manually to make a transaction? On my desktop, a QR pops up if I'm making a payment, and viola! Easy! But sometimes it looks like I have to enter my address manually - I think? Hell. I don't get it. 

You do not need type address manually. You can copy/paste it, or even better you can scan a QR code to your mobile. That`s it.

And what the heck do I do what that long string of random words? Is that QR on my paper wallet what I use to receive BTC as payment? I printed out a few paper wallets - all of which I thought were for the same address / account / wallet (is there a difference?), but if I remember correctly, they were all different. Extra confused.

Better to ask just one question in thread to get answer for it  . Your Paper Wallet should include your Private key - !!! Do not share it with any one, keep it secure just for you !!! - This is the only way how you can spend your Paper wallet amount. And as second string should be Public address - this can be used any time to check amount on this Paper wallet. To check it, just go to Blockchain.info and put this Public address there (copy/paste) and you will see result.

I've scoured youtube for tutorials for beginners, but even they were pretty esoteric it seems.

Any positive feedback at this point would be great. I've been struggling with this for months now...

Thank you!

[n2004al]

You need to do only one thing. Do a search with google and search the word "coinbase". This an online wallet with much credibility. Have million of users. Have to many time in market. In few word: is credible as a wallet. After finding its site open an account (which can be open in 2 minutes). Send there from your wallet your 1 bitcoin and you are ready to do what you want. To send and to receive bitcoin simply with one click. Read within this wallet and will earn all your needed things within 10 minutes. For more, all the fees when you send bitcoins are paid from this wallet. That option, as I know, is offered only by this wallet. You can create how many addresses you want for this wallet to use when and where you want (for example to know the source of bitcoins you can give different addresses to different persons from whom you wait bitcoins; from the address you can know who had sent you bitcoin and who not).

[polymathpangram]

OK, I'm going to back up a little. As suggested by kpitti, I'll stick with one question/topic at a time. Seems like a reasonable approach.

I have been using Coinbase since it seemed to be the easiest to use for people like myself, but I really don't feel secure with it - or any other exchange bc I don't understand the technology. I thought I was correct in trusting that my bitcoins were totally secure on a paper wallet, barring my losing it or letting someone get ahold of it or my key. But I'm not sure about that. For example, if Coinbase goes the way of Mt. Gox (some people lost everything gox was holding for them, right?), are my bitcoins lost to me for good? Or is the paper wallet (or equivalent, i.e. usb storage etc.) proof of my btc on the blockchain itself and therefore title to those bitcoins? I apologize if my understanding of all this is totally erroneous!

ps - I'm in the middle of Digital Gold right now, trying to get some sense of the evolution and terminology... 

[achow101]

OK, I'm going to back up a little. As suggested by kpitti, I'll stick with one question/topic at a time. Seems like a reasonable approach.

I have been using Coinbase since it seemed to be the easiest to use for people like myself, but I really don't feel secure with it - or any other exchange bc I don't understand the technology. I thought I was correct in trusting that my bitcoins were totally secure on a paper wallet, barring my losing it or letting someone get ahold of it or my key. But I'm not sure about that. For example, if Coinbase goes the way of Mt. Gox (some people lost everything gox was holding for them, right?), are my bitcoins lost to me for good? Or is the paper wallet (or equivalent, i.e. usb storage etc.) proof of my btc on the blockchain itself and therefore title to those bitcoins? I apologize if my understanding of all this is totally erroneous!

ps - I'm in the middle of Digital Gold right now, trying to get some sense of the evolution and terminology... 

With coinbase, your bitcoin are not necessarily safe. Coinbase has control of your private keys, which means that they can also spend your Bitcoin. If they should scam, or be hacked, someone could spend your bitcoin for you and you would lose all of it.

However, if you use a desktop wallet (or any wallet that is not a web wallet), then a paper wallet backup will be safe.

[polymathpangram]

Got it. That's excellent information. So Coinbase isn't what I want. I'll research alternatives. Anyone using Darkwallet? I realize it too is quite risky at it's present stage, but just curious if anyone has experience with it.

[VirosaGITS]

Got it. That's excellent information. So Coinbase isn't what I want. I'll research alternatives. Anyone using Darkwallet? I realize it too is quite risky at it's present stage, but just curious if anyone has experience with it.

OK, I'm going to back up a little. As suggested by kpitti, I'll stick with one question/topic at a time. Seems like a reasonable approach.

I have been using Coinbase since it seemed to be the easiest to use for people like myself, but I really don't feel secure with it - or any other exchange bc I don't understand the technology. I thought I was correct in trusting that my bitcoins were totally secure on a paper wallet, barring my losing it or letting someone get ahold of it or my key. But I'm not sure about that. For example, if Coinbase goes the way of Mt. Gox (some people lost everything gox was holding for them, right?), are my bitcoins lost to me for good? Or is the paper wallet (or equivalent, i.e. usb storage etc.) proof of my btc on the blockchain itself and therefore title to those bitcoins? I apologize if my understanding of all this is totally erroneous!

ps - I'm in the middle of Digital Gold right now, trying to get some sense of the evolution and terminology...  

With coinbase, your bitcoin are not necessarily safe. Coinbase has control of your private keys, which means that they can also spend your Bitcoin. If they should scam, or be hacked, someone could spend your bitcoin for you and you would lose all of it.

However, if you use a desktop wallet (or any wallet that is not a web wallet), then a paper wallet backup will be safe.

Coinbase is insured for insider job and outside hacking. So just telling someone their BTC is at high risk at Coinbase is inappropriate. It cannot be as secure as a proper solo offline setup. But the second you decide to trust a 3rd party, Coinbase is probably the best;

"Coinbase is insured against theft and hacking in an amount that exceeds the average value of bitcoin we hold in online storage at any given time.  The insurance covers losses due to breaches in physical or cyber security, accidental loss, and employee theft.  It doesn’t cover bitcoin lost or stolen as a result of an individual user’s negligence to maintain secure control over their login credentials."

[notlist3d]

Got it. That's excellent information. So Coinbase isn't what I want. I'll research alternatives. Anyone using Darkwallet? I realize it too is quite risky at it's present stage, but just curious if anyone has experience with it.

OK, I'm going to back up a little. As suggested by kpitti, I'll stick with one question/topic at a time. Seems like a reasonable approach.

I have been using Coinbase since it seemed to be the easiest to use for people like myself, but I really don't feel secure with it - or any other exchange bc I don't understand the technology. I thought I was correct in trusting that my bitcoins were totally secure on a paper wallet, barring my losing it or letting someone get ahold of it or my key. But I'm not sure about that. For example, if Coinbase goes the way of Mt. Gox (some people lost everything gox was holding for them, right?), are my bitcoins lost to me for good? Or is the paper wallet (or equivalent, i.e. usb storage etc.) proof of my btc on the blockchain itself and therefore title to those bitcoins? I apologize if my understanding of all this is totally erroneous!

ps - I'm in the middle of Digital Gold right now, trying to get some sense of the evolution and terminology...  

With coinbase, your bitcoin are not necessarily safe. Coinbase has control of your private keys, which means that they can also spend your Bitcoin. If they should scam, or be hacked, someone could spend your bitcoin for you and you would lose all of it.

However, if you use a desktop wallet (or any wallet that is not a web wallet), then a paper wallet backup will be safe.

Coinbase is insured for insider job and outside hacking. So just telling someone their BTC is at high risk at Coinbase is inappropriate. It cannot be as secure as a proper solo offline setup. But the second you decide to trust a 3rd party, Coinbase is probably the best;

"Coinbase is insured against theft and hacking in an amount that exceeds the average value of bitcoin we hold in online storage at any given time.  The insurance covers losses due to breaches in physical or cyber security, accidental loss, and employee theft.  It doesn’t cover bitcoin lost or stolen as a result of an individual user’s negligence to maintain secure control over their login credentials."

It is a good online wallet.  But what it's fair to say it does not cover personal compromise.  For example just your account get's hacked from phising or something and you lose coins.

Since it was something you did and not others it is not covered.  So there is possibility to still lose coins.   Yes cold storage is still much better overall if done right.

[polymathpangram]

Reassuring re:insurance, however I prefer to deal with as few parties as possible, so while insurance is a good measure, I'd rather not deal with a claim. Plus, I don't want anyone to have my keys except myself, and possibly family, etc.,. So an exchange that stores my security info sounds like it may be good for some people, I'd rather avoid that.

So, it sounds like I should only use coinbase as an exchange only at this point, and store offline...  I'll look into that.

[monbux]

Reassuring re:insurance, however I prefer to deal with as few parties as possible, so while insurance is a good measure, I'd rather not deal with a claim. Plus, I don't want anyone to have my keys except myself, and possibly family, etc.,. So an exchange that stores my security info sounds like it may be good for some people, I'd rather avoid that.

So, it sounds like I should only use coinbase as an exchange only at this point, and store offline...  I'll look into that.

Why sell the bitcoin after the client pays?  Keep it!

I would recommend this: get a bitcoin wallets app on your phone such as blockchain.info, or coinbase and you can ask your clients if they want to pay in bitcoin after the job.  If they do, simply open the wallet on your phone and shoe thrm your qr code to one of your addresses.

[n2004al]

OK, I'm going to back up a little. As suggested by kpitti, I'll stick with one question/topic at a time. Seems like a reasonable approach.

I have been using Coinbase since it seemed to be the easiest to use for people like myself, but I really don't feel secure with it - or any other exchange bc I don't understand the technology. I thought I was correct in trusting that my bitcoins were totally secure on a paper wallet, barring my losing it or letting someone get ahold of it or my key. But I'm not sure about that. For example, if Coinbase goes the way of Mt. Gox (some people lost everything gox was holding for them, right?), are my bitcoins lost to me for good? Or is the paper wallet (or equivalent, i.e. usb storage etc.) proof of my btc on the blockchain itself and therefore title to those bitcoins? I apologize if my understanding of all this is totally erroneous!

ps - I'm in the middle of Digital Gold right now, trying to get some sense of the evolution and terminology... 

With coinbase, your bitcoin are not necessarily safe. Coinbase has control of your private keys, which means that they can also spend your Bitcoin. If they should scam, or be hacked, someone could spend your bitcoin for you and you would lose all of it.

However, if you use a desktop wallet (or any wallet that is not a web wallet), then a paper wallet backup will be safe.

That is not true. Since October 2014 coinbase announced that their Multisig Vault gives the customer complete control of their own private keys. According to their news:

"Our new Multisig Vault gives the customer complete control of their own private keys.  Coinbase has no ability to move funds (which means you are safe from Coinbase being hacked, going bankrupt, or anyone seizing your bitcoin).  It also means that you as a customer have much greater responsibility in storing your backup key securely.  If you lose this backup and forget your multisig password, Coinbase cannot help you recover your bitcoin.  For this reason, we only recommend this feature for advanced users."

[Atomictie]

never felt the needs to write manually an address, QR code or copy/paste

[ikydesu]

OK, I'm going to back up a little. As suggested by kpitti, I'll stick with one question/topic at a time. Seems like a reasonable approach.

I have been using Coinbase since it seemed to be the easiest to use for people like myself, but I really don't feel secure with it - or any other exchange bc I don't understand the technology. I thought I was correct in trusting that my bitcoins were totally secure on a paper wallet, barring my losing it or letting someone get ahold of it or my key. But I'm not sure about that. For example, if Coinbase goes the way of Mt. Gox (some people lost everything gox was holding for them, right?), are my bitcoins lost to me for good? Or is the paper wallet (or equivalent, i.e. usb storage etc.) proof of my btc on the blockchain itself and therefore title to those bitcoins? I apologize if my understanding of all this is totally erroneous!

ps - I'm in the middle of Digital Gold right now, trying to get some sense of the evolution and terminology... 

With coinbase, your bitcoin are not necessarily safe. Coinbase has control of your private keys, which means that they can also spend your Bitcoin. If they should scam, or be hacked, someone could spend your bitcoin for you and you would lose all of it.

However, if you use a desktop wallet (or any wallet that is not a web wallet), then a paper wallet backup will be safe.

That is not true. Since October 2014 coinbase announced that their Multisig Vault gives the customer complete control of their own private keys. According to their news:

"Our new Multisig Vault gives the customer complete control of their own private keys.  Coinbase has no ability to move funds (which means you are safe from Coinbase being hacked, going bankrupt, or anyone seizing your bitcoin).  It also means that you as a customer have much greater responsibility in storing your backup key securely.  If you lose this backup and forget your multisig password, Coinbase cannot help you recover your bitcoin.  For this reason, we only recommend this feature for advanced users."

So at coinbase wallet you can export/import private key

never felt the needs to write manually an address, QR code or copy/paste

Use your smartphone to do it, like @monbux said. Mycelium is good bitcoin wallet in smartphone so far.

[mexxer-2]

So at coinbase wallet you can export/import private key

I don't think it does, although I do remember it gives you the ability to sign messages using your private key but the key itself is not publicly displayed

[notlist3d]

So at coinbase wallet you can export/import private key

I don't think it does, although I do remember it gives you the ability to sign messages using your private key but the key itself is not publicly displayed

Part of coinbase's safty is you cannot export private key.  So the site is only place  you can access wallet.  You don't have control over address like in many situations.

If you want private key's you will need to use another wallet.  Keep in mind you should not keep a ton in hot wallets unless spending it.  Look into cold wallets they will be better over long term if done right.

[n2004al]

OK, I'm going to back up a little. As suggested by kpitti, I'll stick with one question/topic at a time. Seems like a reasonable approach.

I have been using Coinbase since it seemed to be the easiest to use for people like myself, but I really don't feel secure with it - or any other exchange bc I don't understand the technology. I thought I was correct in trusting that my bitcoins were totally secure on a paper wallet, barring my losing it or letting someone get ahold of it or my key. But I'm not sure about that. For example, if Coinbase goes the way of Mt. Gox (some people lost everything gox was holding for them, right?), are my bitcoins lost to me for good? Or is the paper wallet (or equivalent, i.e. usb storage etc.) proof of my btc on the blockchain itself and therefore title to those bitcoins? I apologize if my understanding of all this is totally erroneous!

ps - I'm in the middle of Digital Gold right now, trying to get some sense of the evolution and terminology... 

With coinbase, your bitcoin are not necessarily safe. Coinbase has control of your private keys, which means that they can also spend your Bitcoin. If they should scam, or be hacked, someone could spend your bitcoin for you and you would lose all of it.

However, if you use a desktop wallet (or any wallet that is not a web wallet), then a paper wallet backup will be safe.

That is not true. Since October 2014 coinbase announced that their Multisig Vault gives the customer complete control of their own private keys. According to their news:

"Our new Multisig Vault gives the customer complete control of their own private keys.  Coinbase has no ability to move funds (which means you are safe from Coinbase being hacked, going bankrupt, or anyone seizing your bitcoin).  It also means that you as a customer have much greater responsibility in storing your backup key securely.  If you lose this backup and forget your multisig password, Coinbase cannot help you recover your bitcoin.  For this reason, we only recommend this feature for advanced users."

So at coinbase wallet you can export/import private key

I am not an expert in such field so cannot give you other help. I gave only the news. I don't use such option because being not an expert have fear to do wrong something and to lose my bitcoins. I don't use at all even the Multisig Vault. All my bitcoins are stored at the normal primary wallet.

[pereira4]

Here's an obvious but often forgotten trick: Like they've told you, if you are going to manually put an address, always copy paste it, but always, always, double click on it so it selects the entire string of characters without leaving a black space. I actually don't know what would happen if you put an address with a blank space at the end, but just in case, be sure that you don't leave any.