Please Help Me Understand BitCoins

[shamefulprincess]

Nice forum. I have read through a lot of it and I'm afraid I still don't understand BitCoins.

If anyone has any advice or suggested reading for a novice such as myself it would be greatly appreciated! Where do you buy them? Where do you keep them? How much is a BitCoin worth? Are they safe to buy/use? I would love to have a better understanding of the whole BitCoin scene so I can share my new found understanding with my friends at nodepositfoum.com. I get asked questions about BitCoins all the time and have to tell them I don't understand how they work enough to answer. Help?

Thanks in advance!

[1714506471]

1714506471

[Kupsi]

http://chimera.labs.oreilly.com/books/1234000001802/index.html

[P4ndoraBox7]

value ;

www.preev.com

[mexicantarget]

Depends what do you want to know exactly? Are you a tech savvy person? Or you just would like to know "hey, when do I get rich?"

Imagine bitcoin as a train, and the blockchain is the rails. You have a train on top of rails. You can create more "trains" to  put on top of those rails.

[InvoKing]

Where do you buy them?

from excangers, from users in bitcointalk but you should use an escrow to avoid being scammed...

Where do you keep them?

In wallets, there's online one like blockchain.info where you can control your private keys which isn't possible with coinbase or Xapo for example. There is paper, hardware, software wallets (bitcoin core or electrum)... You can search in the forums or the wiki for more informations

How much is a BitCoin worth?

You can check the price BTC/$ in preev.com (there is an option to see bitfinex alone or Bitstamp or btc-e) or coinbase.com or all-in-one here https://tradeblock.com/markets/btcc/xbt-cny/30m/

More information here https://en.bitcoin.it/wiki/Main_Page

[talks_cheep]

Nice forum. I have read through a lot of it and I'm afraid I still don't understand BitCoins.

If anyone has any advice or suggested reading for a novice such as myself it would be greatly appreciated! Where do you buy them? Where do you keep them? How much is a BitCoin worth? Are they safe to buy/use? I would love to have a better understanding of the whole BitCoin scene so I can share my new found understanding with my friends at nodepositfoum.com. I get asked questions about BitCoins all the time and have to tell them I don't understand how they work enough to answer. Help?

Thanks in advance!

Where do you buy them?
Sign up at coinbase.com

Where do you keep them?
bitcoin wallet of your choice

How much is bitcoin worth?
It fluctuates a lot, currently $420 a coin

Are they safe to buy/use?
They are safe to buy/use as long as you exercise normal caution as you would cash

Read and read, and then read more to learn about bitcoins. No one can pound sense into you, you already have enough sense to know how to learn, either that or you are not cut out to be a bitcoiner.

[chesthing]

Nice forum. I have read through a lot of it and I'm afraid I still don't understand BitCoins.

If anyone has any advice or suggested reading for a novice such as myself it would be greatly appreciated! Where do you buy them? Where do you keep them? How much is a BitCoin worth? Are they safe to buy/use? I would love to have a better understanding of the whole BitCoin scene so I can share my new found understanding with my friends at nodepositfoum.com. I get asked questions about BitCoins all the time and have to tell them I don't understand how they work enough to answer. Help?

Thanks in advance!

The speculation forum, really?

[suda123]

Nice forum. I have read through a lot of it and I'm afraid I still don't understand BitCoins.

If anyone has any advice or suggested reading for a novice such as myself it would be greatly appreciated! Where do you buy them? Where do you keep them? How much is a BitCoin worth? Are they safe to buy/use? I would love to have a better understanding of the whole BitCoin scene so I can share my new found understanding with my friends at nodepositfoum.com. I get asked questions about BitCoins all the time and have to tell them I don't understand how they work enough to answer. Help?

Thanks in advance!

give me your qr code ill throw you 5$s

[The Sceptical Chymist]

yeah this is probably in the wrong section. You might try to get some Bitcoin from the faucets, but they usually pay very little. However faucets are very useful in learning about Bitcoin,as you can play around with it basically for free. And as other posters here have said, you could sign up with an exchange like coinbase. the first thing you should do is download a wallet. good luck and have fun!

[Monnt]

Where do you buy them?

There are many services out there that offer bitcoin buy/sell. Check on google. Most popular ones include coinbase, localbitcoins and the UK equivalent, BitBargain if you live in the UK.

Where do you keep them?

Cold wallet, paper wallet, brain wallet(not recommended), online exchanges and wallets such as coinbase and blockchain.info, or the bitcoin client itself.

How much is a BitCoin worth?

Currently around $420 but the value is very volatile. Check on sites like coindesk to find the current value.

Are they safe to buy/use?

Absolutely.

[chessnut]

Bitcoins are units of account that are recorded securely for you on a decentralised public ledger that is distributed over a peer to peer network. You see them in the blockchain as you see numbers of currency in your centralised bank account. Bitcoins cannot be forged because the validation system for bitcoins is transparent and runs off consensus and maths. Bitcoins are finite because the protocol of the validation system deems that they are and this cannot be changed especially in the case that bitcoins achieve significant value. You can only authorise bitcoin transactions if you have the Private key (password) but you can accept them from anyone who has your private key (and some btc).

[Amph]

buy them on anyexchange or any market that sell them and it's trusted, you can even buy them here with a trusted esccrow, or earn them which i find it better

keep them in a cold storage, usually a simple backup on a usb stick will do it, buy many of them, do it offline

safe is relative to other kind of investment, and right now bitcoin look safer than fiat to me

[avw1982]

yeah this is probably in the wrong section. You might try to get some Bitcoin from the faucets, but they usually pay very little. However faucets are very useful in learning about Bitcoin,as you can play around with it basically for free. And as other posters here have said, you could sign up with an exchange like coinbase. the first thing you should do is download a wallet. good luck and have fun!

Nope In faucet He can earn little amount of satoshis and mbits But there nothing we have to learn. I fell He should He should read many of the thread which is related to Bitcoin's use, trading, gambling, mining and etc.. They he could clear more about it.

[Mickeyb]

Hello mate and welcome to the forum and to the Bitcoin world!

Uff, where to start you are asking? Informations are really everywhere. Google, YouTube, reddit, here on the forum. I suggest that you go step by step. First try to understand basics of Bitcoin, you might even type this into Google, Bitcoin basics. Then Bitcoin wallets and how to secure them. Then how to buy them, etc..

Good luck and get back here with the questions, we will help you!

[virtualx]

Where do you buy them?

I don't buy them, I earn them with online work. You can buy them on bitcoin exchange websites, simply trade for another currency.

Where do you keep them?

In digital wallets. You can find a list of wallets on bitcoin.org

How much is a BitCoin worth?

Bitcoin price moves up and down. https://blockchain.info/charts/market-price

[Loimu]

I will give my input too.

Where do you buy them?
I have used multiple exchanges. US/EU might have bit different ones, some US exchanges not accepting SEPA transfers/EU customers and vice versa. As I am from Europe I have found that http://bitstamp.net is absolutely the best one for me. Have used now over 2 years and never had any issues.

Where do you keep them?
Cold wallet and some usable amount on my Electrum wallet.

How much is bitcoin worth?
Currently ~$410? Haven't checked in few hours and it has been pretty volatile today.

Are they safe to buy/use?
Definitely.

[BigBoy89]

Where do you buy them?

I don't buy them, I earn them with online work. You can buy them on bitcoin exchange websites, simply trade for another currency.

Where do you keep them?

In digital wallets. You can find a list of wallets on bitcoin.org

How much is a BitCoin worth?

Bitcoin price moves up and down. https://blockchain.info/charts/market-price

Yes it does keep  fluctuating but at the end bitcoins value remain much more than of USD and you have posted an very informative links

[Velkro]

If anyone has any advice or suggested reading for a novice such as myself it would be greatly appreciated!

Watching is sometimes better than reading, try youtube documentary about bitcoin "rise and rise of bitcoin". You will understand it better, there are more documentaries about bitcoin too.

[thirdchance57]

Seems like you are looking to have this dumbed down to basic terms:
Bitcoins are a form of currency.  Just like the dollar, euro and peso; this is a form of digital money.  There is no physical coins to own per say.  Kind of like having money in your bank and accessing that money through a credit card.  You can have BTC (Bitcoin) in your wallet and use them where they are accepted to make payments for products, services, etc.  Your BTC wallet is like your bank account for BTC.  I am hoping this put a more basic understanding on this all for you. 

[relq]

Nice forum. I have read through a lot of it and I'm afraid I still don't understand BitCoins.

If anyone has any advice or suggested reading for a novice such as myself it would be greatly appreciated! Where do you buy them? Where do you keep them? How much is a BitCoin worth? Are they safe to buy/use? I would love to have a better understanding of the whole BitCoin scene so I can share my new found understanding with my friends at nodepositfoum.com. I get asked questions about BitCoins all the time and have to tell them I don't understand how they work enough to answer. Help?

Thanks in advance!

You can search on the google though, there are so many explanation about bitcoin. about this forum first you read the rules in this forum first. How much is bitcoin worth ? its so much worth, for today it's around  400++ usd. search google for more accurate.