Bitcoin | FAQ!

[Robert1]

You can ask questions and I'll update this thread with an answer.
Making this for those people who don't know a lot about bitcoin and want to learn.

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QUESTION 1: Where can I buy Bitcoins (with ID)
Bitcoin can be bought from a lot of sites. Most sites of course, will require photo verification and make you wait a few hours/days before receiving your funds. Most sites accept payment from either;
1 - PayPal (Must be verified with PhotoID)
2 - Major credit cards. (If it's yours it won't get declined.)
etc.

Here are a few sites to buy Bitcoin if you can provide ID.
1; https://www.coinjar.com
2; https://www.coinbase.com
3; https://buyabitcoin.com.au/

NOTE that some of these accept over-the-counter cash/bank transfers.
Those are just a few sites, you can easily find one that meets your needs by googling "Buy BTC".

Here are some sites to buy Bitcoin without any ID.
1; For Australians, you can use https://www.btradeaustralia.com/buy-bitcoins/
2; https://coinchimp.com/
3; https://localbitcoins.com

Again, just google "Buy BTC without ID". There are many sites that are available and release your btc within an hour or less.

QUESTION 2: How can I calculate my mining profits?
There are many sites. The easiest one IMO is https://alloscomp.com/bitcoin/calculator as it can calculate most different coins.

QUESTION 3: How can I start mining bitcoins and what is it?
Bitcoin mining is the processing of transactions in the digital currency system, in which the records of current Bitcoin transactions, known as a blocks, are added to the record of past transactions, known as the block chain. - Credits to google for that.

Mining is almost useless and actually loses profit if you have a crappy CPU/GPU & mine. If you want to mine, there are many tutorials on the internet. Here are some of the easier ones;
https://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0CB8QFjABahUKEwjO4L7jzPHIAhVR8mMKHYnpBhI&url=https%3A%2F%2Fwww.techinasia.com%2Fhow-min-bitcoin-works-guide-tutorial%2F&usg=AFQjCNFWyUQiiCe9C1Kk_uQsgzxcvOKiqw&bvm=bv.106379543,d.cGc

https://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=6&cad=rja&uact=8&ved=0CDkQFjAFahUKEwjO4L7jzPHIAhVR8mMKHYnpBhI&url=https%3A%2F%2Fwww.bitcoinmining.com%2Fgetting-started%2F&usg=AFQjCNHDevwRidXjShhnRAMVEXv_wVp1Hw&bvm=bv.106379543,d.cGc

https://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=8&cad=rja&uact=8&ved=0CEUQFjAHahUKEwjO4L7jzPHIAhVR8mMKHYnpBhI&url=http%3A%2F%2Fultimatebitcointutorial.blogspot.com%2F&usg=AFQjCNFhVfolF9MqJJ_LlztvxTt8od1v_g&bvm=bv.106379543,d.cGc

I recommend mining newer coins as the difficulty is lower and it's much easier to mine coins.

QUESTION 4: How would I hide BTC? (IE: If I stole 5btc and wanted to make sure no one found out it was me)[/b]
I'm not sure if this is allowed here but I'll just give a simple explanation.
First of all, go to blockchain.info/wallet and create around 20 accounts.
Note all of them in a .txt or piece of paper and make sure you don't lose them.
On the original account with 5btc, send 5% to each address. Make sure you note the balance on the side of where you wrote everything down.
IE: account 1; identifier: xxxx - password: xxxx - balance: $50
Now make 10 new blockchain accounts (it's easy because you don't need to confirm email and it takes a few seconds)
With the 20 accounts, log in to 2 and send the money to one account.
IE: Account 1 & Account 2 send the 5% to New Account 1 making the first account of the 10 receive 10%.
Do that until all 10 accounts have 10%.
Now just send the money from every wallet to a new one that you will keep as your active one.
NOTE that this isn't even a good method, it's just a way to confuse someone looking through the transactions. It can be done much more carefully.

QUESTION 5: Can someone steal my BTC?[/b]
Well, unless they calculate the SHA512 hashes or have you under a remote access trojan, it's not possible/easy. If they have access to your email that gives them your wallet identifier, and from there they have a few options.
1; Brute force your password (If it's short it wouldn't be too hard.)
2; Social engineer you. They could send you a phishing page, etc.
3; RAT/Keylogger. This is one of the methods people use a lot but it doesn't work unless the victim is retarded.

BE SURE TO LEAVE QUESTIONS IN THE COMMENTS, THE ONES I ANSWERED ARE PRETTY BASIC SO I NEED QUESTIONS ;p
I'll update this thread from time to time with more advanced stuff hopefully

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[Andrelvogue]

This is very helpfull thank you.

[n2004al]

Are your sure about the security in changing money in this site: https://coinchimp.com/

I had an account time ago and apart the fact that the design is terrible and at all professional I had to many difficulties to enter after opening an account and had any answer from their support about something asked to them?

So my questions is: you are making publicity to them (an unknown site). Have you used this site before putting their link here? Offer you warranty about it (that kind of warranty which can be offered from someone which had as first post the above post)?

Or you entered here in bitcointalk only to made hidden publicity to this site and to cover it with to many other words and sites?

[Robert1]

Well, I'm only offering examples.
The only ones I would trust are virwox.com or coinbase.com. Maybe a few others.
It's easy to buy btc if you just search.

[JeWay]

This kind of post should be pinned up, cuz this is a helpful thread.
Keep on posting!

[n2004al]

Well, I'm only offering examples.
The only ones I would trust are virwox.com or coinbase.com. Maybe a few others.
It's easy to buy btc if you just search.

Good. Both the above showed in your second post are ok. Credible and tried even by me. But it will be better to take away the sites which are not used by yourself. If you give help that help must be secure and not only various things found in internet and added in your post without even the minimum personal experience with those. The people read your post and believe that everything there must be credible and consequence of your personal experience. Or at least provable by the others which gave good feedback about those. I haven't hear or read nothing about coinchimp.com. But my personal opinion is: not credible.

[Scream]

Here are some sites to buy Bitcoin without any ID.
1; For Australians, you can use https://www.btradeaustralia.com/buy-bitcoins/
2; https://coinchimp.com/
3; https://localbitcoins.com

can you add this ? for indonesian marketplace ?
https://vip.bitcoin.co.id/

Id card must be  verified to get Withdraw

[winguard]

QUESTION 4: How would I hide BTC?

You can also use Bitcoin tumbling also referred to as Bitcoin mixing or Bitcoin laundering. Since the Bitcoin blockchain is a public ledger that records every transaction, mixing coins is used for anyone who doesn’t want anyone to know exactly where they send and store their BTC, or from where they receive it. There are services on this forum for this.

[notlist3d]

QUESTION 2: How can I calculate my mining profits?
There are many sites. The easiest one IMO is https://alloscomp.com/bitcoin/calculator as it can calculate most different coins.

For calculating mining profits I highly suggest a site more like: https://bitcoinwisdom.com/bitcoin/calculator

With it you can add difficulty changes.  The one mentioned would be good for seeing current period.  But on speculating periods to come not so good.

[mitko17]

I actually didn't know few of the things... Thanks

[zodiac3011]

I think that buying bitcoin with paypal you can add wesellcrypto.com althought the price is a little higher but it's pretty safe I think

[crypto.tornado]

Thanks for the FAQ's.

[saturn643]

The only problem I have with this is question 5. You are assuming that everyone is using Blockchain.info's wallet, which is not the case. In fact, it isn't even recommended to use blockchain.info's wallet. You should instead change that answer to something about how it is practically impossible to brute force a private key due to the massive number of possible addresses. You should also have something in the answer about good passwords and choosing a good and secure wallet.

[Fraxinus]

Really heplful,it should help the ones who are new here and are just starting out with bitcoin.

[rivoke]

Surely this thread is helpfull.
Maybe you can add the about hot & cold wallet ( pros & cons ) and online wallet ( pros & cons ) so we can choose more wisely before we choose our wallet

[ranochigo]

Good overview but some points are slightly wrong.

Question 2: It isn't 100% accurate as difficulty increases aren't constant, it can only be used as a guideline.
Question 3:Even with low difficulty, the price are very low and is hence unable to give the user a stable ROI, with risk of losing money as most alt coins are pump and dump scheme. Do not trust cloudmining either, most won't ROI.
Question 4: Blockchain.info, being an online wallet could have the potential to store the IP logs and the addresses used. Hence, it is a very bad choice. The taint analysis could just give it all away. Use a mixer like bitmixer.io instead.
Question 5: People can steal Bitcoins if they have the private key or if the private key/transactions aren't generated randomly. With addresses, SHA512 hashing is never used, only SHA256,RIPEMD-160 are involved. Quantum computing could potentially calculate the private key from the public key and compromised addresses. Public keys are broadcast only when a transaction is broadcasted. It isn't much of a threat right now. In the future, Bitcoin can easily make a fork.

[zodiac3011]

The only problem I have with this is question 5. You are assuming that everyone is using Blockchain.info's wallet, which is not the case. In fact, it isn't even recommended to use blockchain.info's wallet. You should instead change that answer to something about how it is practically impossible to brute force a private key due to the massive number of possible addresses. You should also have something in the answer about good passwords and choosing a good and secure wallet.

well thereotically, you can brutefore but it's just like finding a neddle in the sea. I suggest he should edit it to electrum with password and 2FA or bitcoincore or something that runs on your PC with password.

[avw1982]

I think that buying bitcoin with paypal you can add wesellcrypto.com althought the price is a little higher but it's pretty safe I think

From Paypal we could get little higher value but this Paypal not that much secure according to the Paypal users instead of that we can use local bitcoins site and we can get value for BTC and this thread post would very much helpful for newbies they can read this and learn about Bitcoin through link in this post.

[saturn643]

The only problem I have with this is question 5. You are assuming that everyone is using Blockchain.info's wallet, which is not the case. In fact, it isn't even recommended to use blockchain.info's wallet. You should instead change that answer to something about how it is practically impossible to brute force a private key due to the massive number of possible addresses. You should also have something in the answer about good passwords and choosing a good and secure wallet.

well thereotically, you can brutefore but it's just like finding a neddle in the sea. I suggest he should edit it to electrum with password and 2FA or bitcoincore or something that runs on your PC with password.

I think it should be something generic, not something ultra specific to one wallet.