Newbie full of questions

[deccarro]

Hello everyone.

I am new here, got interested in cryptocurrencies topics because of a few colleagues at work boasting how much they could earn by investing in BTC and Ethereum currencies. It is so encouraging by just listening to them how lucky they were buying a few coins a year before.

I think well, yes, it might be true they were lucky, however I still cannot develop myself to simply trust in something what only exists because a bunch of people agreed to understand that x amount of real currency is the amount which these people see in their online files as certain amount of imaginary money. How something like that could be trustful and how does it actually work? I have really plenty of questions before I would like to devote myself to really get to know what kind of business this is and can I actually find a place for investition for myself. Could you please help me understand what actually crypto currency then is and what made Bitcoin so spectacular, worth investing thing?

Kind regards, to all of you, hope I can get my answers here.

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[pedrog]

Hello everyone.

I am new here, got interested in cryptocurrencies topics because of a few colleagues at work boasting how much they could earn by investing in BTC and Ethereum currencies. It is so encouraging by just listening to them how lucky they were buying a few coins a year before.

I think well, yes, it might be true they were lucky, however I still cannot develop myself to simply trust in something what only exists because a bunch of people agreed to understand that x amount of real currency is the amount which these people see in their online files as certain amount of imaginary money. How something like that could be trustful and how does it actually work? I have really plenty of questions before I would like to devote myself to really get to know what kind of business this is and can I actually find a place for investition for myself. Could you please help me understand what actually crypto currency then is and what made Bitcoin so spectacular, worth investing thing?

Kind regards, to all of you, hope I can get my answers here.

All money is 'imaginary', that's why it is useful, barter systems are very limited.

If you really wanna know how bitcoin works you can start with the white paper, but if you aren't in IT it may be difficult to understand.

https://bitcoin.org/bitcoin.pdf

[CryspRayz]

Hello everyone.

I am new here, got interested in cryptocurrencies topics because of a few colleagues at work boasting how much they could earn by investing in BTC and Ethereum currencies. It is so encouraging by just listening to them how lucky they were buying a few coins a year before.

I think well, yes, it might be true they were lucky, however I still cannot develop myself to simply trust in something what only exists because a bunch of people agreed to understand that x amount of real currency is the amount which these people see in their online files as certain amount of imaginary money. How something like that could be trustful and how does it actually work? I have really plenty of questions before I would like to devote myself to really get to know what kind of business this is and can I actually find a place for investition for myself. Could you please help me understand what actually crypto currency then is and what made Bitcoin so spectacular, worth investing thing?

Kind regards, to all of you, hope I can get my answers here.

All money work like that. People just agree that x amount of something worth something else. This source has a lot of information https://en.bitcoin.it/wiki/Main_Page
The main reason that made Bitcoin succeed is that your money yours forever and nobody can take it away from you. You don't need trust with it. You are the one who controls your money without any intermediaries.

[irandy]

Start here: This is a 7 day course that is design to make you more knowledgeable than 99 percent of the population. Video average is about 10 minutes, you won't to wait 7 days like I did. Once you understand bitcoin, you'll get a better grasp of Altcoins. Good luck on your journey.

Video 1: https://99bitcoins.com/bitcoin-whiteboard-tuesday-what-is-bitcoin/?utm_source=99Bitcoins+blog+updates&utm_campaign=55c8f35914-Bitcoin_crash_course_videos8_6_2015&utm_medium=email&utm_term=0_ca691db33c-55c8f35914-122892177

Video 2: https://99bitcoins.com/what-is-bitcoin-wallet-bwbt-3/?utm_source=99Bitcoins+blog+updates&utm_campaign=d51a0b4468-Bitcoin_crash_course_videos8_6_2015&utm_medium=email&utm_term=0_ca691db33c-d51a0b4468-122892177

Video 3: https://99bitcoins.com/bitcoin-whiteboard-tuesday-what-is-bitcoin-mining/?utm_source=99Bitcoins+blog+updates&utm_campaign=31cda4e967-Bitcoin_crash_course_videos8_6_2015&utm_medium=email&utm_term=0_ca691db33c-31cda4e967-122892177

Video 4: https://99bitcoins.com/bitcoin-whiteboard-tuesday-the-path-from-send-to-receive/?utm_source=99Bitcoins+blog+updates&utm_campaign=a9f9d8194b-Bitcoin_crash_course_videos8_6_2015&utm_medium=email&utm_term=0_ca691db33c-a9f9d8194b-122892177

Video 5: https://99bitcoins.com/how-to-buy-bitcoins-guide/?utm_source=99Bitcoins+blog+updates&utm_campaign=7184666b38-Bitcoin_crash_course_videos8_6_2015&utm_medium=email&utm_term=0_ca691db33c-7184666b38-122892177

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Video 7: https://99bitcoins.com/what-are-altcoins-icos-bitcoin/?utm_source=99Bitcoins+blog+updates&utm_campaign=11a1fcd0f1-Bitcoin_crash_course_videos8_6_2015&utm_medium=email&utm_term=0_ca691db33c-11a1fcd0f1-122892177

[RosemaryNarrative]

When I started out, this explanation from BlockGeeks helped me: https://blockgeeks.com/guides/what-is-bitcoin/.

[iagyei259]

Your colleagues in office might be exaggerating to you. Bitcoins and altcoins (Ethereum ) as they said is not a world of certainty. Most that make money with these instruments. You can win and lose. Take your time and learn in this forum, and invest money you can afford to lose ,but in the end if you are dedicated, you wont regret for taken the pain to learn.

[deccarro]

Much appreciated for you support, people. What made me create basis for next questions were mostly videos sent by Irandy - thank you. Mostly I understood basis of what actually Bitcoin is and it is going more and more interesting. What really strikes me now is just the single, simple thought - so the more Bitcoins (or Altcoins) people have bought, the more this currency growths on the market right? So if the people buy more Ethereum by selling bitcoins let's say do I understand that Ethereum will grow stronger (we are talking about big numbers to make it more clear of smaller ones) and the same time Bitcoin would be smaller because some bitcoins were actually "changed" for the certain amount of Ethereum, right?

[deccarro]

I would be glad for answer for a question above.

Anyway I became aware that to even get any part of bitcoin or any altcoin I need a special wallet. Can you please explain to me in really simple way, how to get one? Since I have read that there are many types, but for a beginner I don't require anything special. Hopefully I would like something that is free to use.