What Is Bitcoin?

[skyline247]

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

[CrewKitten]

I am a noob when it comes to Bitcoin. But I know that there are 2 types of "keys".

Key #1 is PUBLIC - you will give this to anyone who wants to send you Bitcoins

Key #2 is PRIVATE - you will use this to get your Bitcoins and should keep it a secret

[Holliday]

Decentralized truth ledger.

[|Bitkoin|]

Bitcoin is a virtual currency not unlike any other you might have come across while playing online games, except the technology is much stronger.

[RedditMaster]

Bitcoin is like Reddit Gold, but way better to get. 

p.s. See username. I know what I am talking about. haha

[BitcoinBallerina]

Decentralized truth ledger.

Somehow my brain managed to short out from just these 3 words. Probably because I am clueless about Bitcoin. Care to explain in greater detail?

[Holliday]

Decentralized truth ledger.

Somehow my brain managed to short out from just these 3 words. Probably because I am clueless about Bitcoin. Care to explain in greater detail?

Do your homework. Look up the definition of these three words, combine them together, and voila: Bitcoin.

[|Bitkoin|]

Decentralized truth ledger.

Somehow my brain managed to short out from just these 3 words. Probably because I am clueless about Bitcoin. Care to explain in greater detail?

It means there is no central authority which controls Bitcoin. Rather, all computers in the network must agree, hence "Decentralized truth".

[Sweetbtc]

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

Simple thing to explain bitcoin for me is that: Bitcoin is an internet money where in people have the chanve to earn it in so many ways.

[itsallpc]

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

Some term it as digital gold.But bitcoin is a digital currency with decentralized nature.

[rudel777]

bitcoin is the most indemand cryptocurency (Internet money)

[gidaahmad]

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

Bitcoin is the Digital currency with Blockchain technology. That's my opinion. Same with your opinion

[cengsuwuei]

bitcoin is crypto curency,
crypto curency this mean digital curency, digital money and can convert fiat money , real money

[UCHCHILD]

A digital money that most of internet enthusiast uses to avail online stuffs also a decentralized money that features good characteristic of crypto currency and to compare to fiat it is more good like controlling by the government and also does not have tax every time you have an income government cannot elimanate tax on it which is a bit burden especially those who get big amount of bitcoin. Therefore it cannot control by the government at all. Also the most popular crypto currency and in demand.

[Sniper44]

a peer to peer electronic cash system which is trustless and instead relies on cryptographic proof to transact money which is also irreversible.

that is the gist of what the paper says and i like it.

[ArIMy11]

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

Bitcoin is an important discovery or first important success of information technology to make a decentralized and secure payment system and something use for storage, and auditing information, including the values digital representation. Unlike the traditional payment system and traditional computer networks, bitcoin is not manage or controlled the operation by any other centralized authority or any company. All I knew the bitcoin is introduced to whole world as an open source project. Furthermore a bitcoin is an intangible object of account that facilitates the decentralized computer network of bitcoin users.

[Hammonds]

Many say bitcoin is the internet currency, but for me bitcoin is the future.

[doomistake]

Decentralized truth ledger.

Somehow my brain managed to short out from just these 3 words. Probably because I am clueless about Bitcoin. Care to explain in greater detail?

Do your homework. Look up the definition of these three words, combine them together, and voila: Bitcoin.

Correct. It would be better if we are the one who is going to find out what bitcoin really is, in that way we could easily answer all of the questions here in this forum since we do have enough knowledge about it. You could also prevent someone on scamming you if you have knowledge about this crypto world, so avoid asking too many questions, do a research about it instead.

[Kingofbitcoin12345]

Bitcoin just change any concept of currency, its undeniable popular today at will still be in the future.

[skyline247]

Thanks for your replies.

Anyone else care to share what Bitcoin is for you? I like to read the different views.