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Author Topic: Beginner questions.  (Read 365 times)
manyquestions (OP)
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December 21, 2017, 07:04:33 PM
 #1

Dear Bitcoin talk community! I am a beginner and I would like to hear answers from you guys!  Huh Huh Huh Huh Huh Huh Huh Huh Huh

1. What is a cryptocurrency?

2. What is a blockchain?

3. How Bitcoin works?

4. How to know which alternative crypto are worth investing in now?

5. How and where can I store 10+ crypto currencies safely, without frequent gadget updates, easy access to get on exchanges and trade.

6. Is it cheaper to buy Bitcoin on Coinbase or Localbitcoins or Gemini?

7. How can I cheaply sell cryptocurrency for cash?

8. Are there strict cryptocurrency buy/sell taxation laws in Europe?

9. Does cryptocurrency has a bright future?

10. Are we still at the early age of cryptocurrency adoption?
gotminer
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December 21, 2017, 07:28:41 PM
 #2

Lol ... Have you ever heard of Google?

Ok, I want you to walk back in there and very calmly, very politely tell the risk assessors to fuck off! -Mark Baum
ashaksagnis
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December 21, 2017, 07:51:14 PM
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I do not see the meaning of this topic. You can find all the answers here on the forum or google.

manyquestions (OP)
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December 21, 2017, 08:12:41 PM
 #4

Is this correct?

1. Crypto currency is a digital asset. It is designed to work as a medium of exchanging ''value''. It uses cryptography to secure its value, to create additional units and to verify transactions.

I do not get the ''it is designed to work as a medium of exchanging ''value'' part. And what does ''uses cryptography to secure its value'' mean? What is the ''value here''?



2. Blockchain is a continously growing list of records called ''blocks''. They are linked and secured using cryptography. Each block contains all sorts of informations such as ''hash pointed'', which points to the previous block, timestamp and transactions data. Blockchains are inherently resistant to modification. It is also described as an open, distributed ledger that can record transactions between two parties in a verifiable and permanent way.

What does the ''securing transactions in a VERIFIABLE way mean? How is it be verified?
xindoa
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December 21, 2017, 08:26:38 PM
 #5

he man here al al the anwsers you need

1) http://lmgtfy.com/?q=What+is+a+cryptocurrency%3F
2) http://lmgtfy.com/?q=What+is+a+blockchain%3F
3) http://lmgtfy.com/?q=How+Bitcoin+works%3F
4) http://lmgtfy.com/?q=How+to+know+which+alternative+crypto+are+worth+investing+in+now%3F
5) http://lmgtfy.com/?q=How+and+where+can+I+store+10%2B+crypto+currencies+safely%2C+without+frequent+gadget+updates%2C+easy+access+to+get+on+exchanges+and+trade.
6) http://lmgtfy.com/?q=Is+it+cheaper+to+buy+Bitcoin+on+Coinbase+or+Localbitcoins+or+Gemini%3F
7) http://lmgtfy.com/?q=How+can+I+cheaply+sell+cryptocurrency+for+cash%3F

Cool http://lmgtfy.com/?q=Are+there+strict+cryptocurrency+buy%2Fsell+taxation+laws+in+Europe%3F
9) http://lmgtfy.com/?q=Does+cryptocurrency+has+a+bright+future%3F
10) http://lmgtfy.com/?q=Are+we+still+at+the+early+age+of+cryptocurrency+adoption%3F

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Coinster
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December 21, 2017, 08:34:13 PM
 #6

Is this correct?

1. Crypto currency is a digital asset. It is designed to work as a medium of exchanging ''value''. It uses cryptography to secure its value, to create additional units and to verify transactions.

I do not get the ''it is designed to work as a medium of exchanging ''value'' part. And what does ''uses cryptography to secure its value'' mean? What is the ''value here''?

Yes, it's basically correct. However, not all cryptocurrencies use cryptography to create additional units. Right now, only cryptocurrencies with "mining" do that.

The "value" is what you can trade cryptocurrency for. Right now the price of Bitcoin is between $15,000 and $20,000 which is the price of some cars. So you can trade 1 BTC for a new car. See the value?  Grin


2. Blockchain is a continously growing list of records called ''blocks''. They are linked and secured using cryptography. Each block contains all sorts of informations such as ''hash pointed'', which points to the previous block, timestamp and transactions data. Blockchains are inherently resistant to modification. It is also described as an open, distributed ledger that can record transactions between two parties in a verifiable and permanent way.

What does the ''securing transactions in a VERIFIABLE way mean? How is it be verified?

Cryptography allows things to be verified. I can't explain that in a few sentences as it's an entire field. However, for the basics all you need to know is it's based on math. I'll give you an example. I will tell you that 2 + 2 = 4. Can you verify that? Yes you can. Just go to a store and buy a calculator, then press the buttons 2 + 2 and see if the answer is 4. If it is you verified what I said. That's similar to cryptography. Smiley
ambnet7
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December 22, 2017, 04:45:44 AM
 #7

A cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.
In wikipedia you can find more information. Hope this will be helpful
Kai14
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December 22, 2017, 12:20:12 PM
 #8

All your question can seach on GG  Wink Grin
BtcGeorghiou
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December 22, 2017, 07:48:16 PM
 #9

While I appreciate the humor of everyone making fun of his post, I'm happy as a newbie starting out that a lot of these questions are answered all on one page. Thank you!
DomainTorrent
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December 22, 2017, 09:20:31 PM
 #10

As long as we have newbies, this type of question will continue to be raised again and again. Most newbies are inexperience and to make things easier for them and in the best shortcut way as possible they tend to ask questions directly here. Thinking that it may sum up all what they need to know in one place.
gotminer
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December 23, 2017, 02:18:37 AM
 #11

As long as we have newbies, this type of question will continue to be raised again and again. Most newbies are inexperience and to make things easier for them and in the best shortcut way as possible they tend to ask questions directly here. Thinking that it may sum up all what they need to know in one place.

Sum it all up in one thread? Lol ... Hate to break it to them, but it's a never ending learning process.

Ok, I want you to walk back in there and very calmly, very politely tell the risk assessors to fuck off! -Mark Baum
Rozcobs
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December 23, 2017, 04:48:34 AM
 #12



Please refer to this links thanks to the author xindoa. But if you want more explanation then you can go to the internet by Google Search. Would be sweet to know all these first coming from your effort, then what is really hard for you to come out here and ask. Like me, I'm still new also but I do research here first doing some reading. Man, you can't put all in your head in 1 day and then leave. Need extra effort from you. It's free. A piece of advise.
Rashid pk
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December 23, 2017, 09:18:06 AM
 #13

You need to ask the same question to Google and Youtube.. Smiley
skurtsil
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December 23, 2017, 12:46:41 PM
 #14

Here is an article with the most basic FAQ's Answered:
https://www.tokens24.com/cryptopedia/bitcoin-faq/
jrtm
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December 23, 2017, 02:39:40 PM
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Just google it man you will get the explanations in so many different ways for all  your questions.
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December 23, 2017, 05:16:50 PM
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All your questions are answered in here: https://www.coindesk.com/information/
readygoaw
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December 24, 2017, 11:09:29 AM
 #17

I will answer the 9 question. Crypto currency has a future, but it is waiting for it to be light or close, time will tell. Since it is difficult to give an exact answer to this question. But I think that in the first years of prosperity everything will be just in the best light.
bramcleeren
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December 24, 2017, 01:59:57 PM
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In my opinion cryptocurrency has a bright future. Not sure of that.. But i'm sure you can make good profit's on short therm.
sadwage
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December 24, 2017, 02:50:40 PM
 #19

Bro you need to use google and read posts there are many threads  you can read I'm sure all your questions can be answered.
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December 24, 2017, 03:07:58 PM
 #20

We have entered the next generation of cryptocurrency adoption since the current new comers on kind of cryptocurrency and usage are more useful and usable than only a bitcoin.
On 2009 - 2010 the bitcoin is only for a shit coin and only was used for simpler usage.

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