Starting out, anyone got any 'bitcoin for dummies' info?

[rhyso]

Hi There,

I have been watching bitcoin closely (and litecoin)... I wan't in.

i have been looking for good articles and info on the best way to buy these, store them an sell them again.

I purchased $15k of gold and silver 2.5 months ago and have watched its value slip slightly while that investment into bitcoin could have seen me with my money back and double that in coins...

It is very frustrating as I was going to, but was a little freaked out by it all...

I am in Dubai and there are several sellers around on the local bitcoin website...

There is just so much to ingest and so much information and none of it seems to be concise enough to fulfill the 'bitcoin for dummies' criteria.

Does anyone have a link to an article, video or thread on this website that fits that criteria?

Cheers in advance for any helpful information.

If someone helps me do this easily I can even consider a small bitcoin donation for the efforts.

I wish I had done this months ago... Hindsight is wonderful, isn't it...

 

Rhyso

[1715200538]

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[1715200538]

1715200538

[Steveia]

Hi There,

I have been watching bitcoin closely (and litecoin)... I wan't in.

i have been looking for good articles and info on the best way to buy these, store them an sell them again.

I purchased $15k of gold and silver 2.5 months ago and have watched its value slip slightly while that investment into bitcoin could have seen me with my money back and double that in coins...

It is very frustrating as I was going to, but was a little freaked out by it all...

I am in Dubai and there are several sellers around on the local bitcoin website...

There is just so much to ingest and so much information and none of it seems to be concise enough to fulfill the 'bitcoin for dummies' criteria.

Does anyone have a link to an article, video or thread on this website that fits that criteria?

Cheers in advance for any helpful information.

If someone helps me do this easily I can even consider a small bitcoin donation for the efforts.

I wish I had done this months ago... Hindsight is wonderful, isn't it...

 

Rhyso

It all depends. The price of gold and silver is artificially manipulated. http://paulcraigroberts.org/2013/04/16/update-to-the-update-the-attack-on-gold-paul-craig-roberts/

Gold and silver are excellent long term investments. Now is the time to buy (I suspect, however, the price will drop lower before it sky rockets). Bitcoin has been skyrocketing but I would not be surprised to see a (temporary) collapse soon.

When investing, some investments are short term only and some long term. Gold and silver are unquestionably long term. Bitcoin (for now) is short time but the staying power of bitcoins seems to have puzzled many.

For articles, why not check google?

[BasicBitcoiner]

Regarding Electrum 1.9 - I've heard that there are issues with the current version (1.9) and that you should hold off with it for a while.  Some of them may have been fixed in 1.9.1 but I'm not sure if there are others.  As with everything, do your research before deciding what is best for you. 

[Salmon1989]

Regarding Electrum 1.9 - I've heard that there are issues with the current version (1.9) and that you should hold off with it for a while.  Some of them may have been fixed in 1.9.1 but I'm not sure if there are others.  As with everything, do your research before deciding what is best for you. 

Indeed the latest version for electrum is 1.9.2 and you may download it here. http://electrum.org/download.html

[rhyso]

I have checked Google, quite a bit.

There are heaps of articles about bitcoin explaining in very simple terms what they are...

but not how to use them, secure them and sell them again. I understand this is a new thing but with all the passion some people have for these I would have thought there would be some kind of online course and that someone here may know it's location via a link.

If there is not such a course, I believe it would be a good way to generate some bitcoins as I would glady donate to the person responsible for explaining how to use them relatively safely in a concise manner...


there are also physical bitcoins, how safe are they?

[cp1]

 To secure them you need to store them offline.   Check the link in my sig for a guide..   How to sell them will depend on your country's and bank's laws.

[rhyso]

thanks for that, I had a good read but unfortunately I am x generation and not quite as savvy on computers as some of the y generation are lol.

I understood it all for the most part but got lost on some points...

can I not just copy and paste the codes into a text document and store on a USB stick and on paper?

[RaggedClown]

http://www.zazzle.co.uk/bitcoin_miner_baby_pacifiers-256137245893019238

[Birdy]

thanks for that, I had a good read but unfortunately I am x generation and not quite as savvy on computers as some of the y generation are lol.

I understood it all for the most part but got lost on some points...

can I not just copy and paste the codes into a text document and store on a USB stick and on paper?

Yes, that is possible (and a lot of people do just that). But there is a risk, if your computer is already malware infected you might lose the coins.
Obviously people will recommend you the highest security here, because they don't want to be at fault for any risk. This highest security comes with additional work though.

The easy way (with the risk at the moment you do it, but still more secure than online wallets):
1) go to https://www.bitaddress.org
2) print the Bitcoin address + private key (and another backup) / save a file with it on the stick
3) keep the private key safe, it's the only way to access the Bitcoins
(if you had a file on your computer with it, delete it with some eraser program the normal windows deletion is not safe!)

[rhyso]

OK sweet.

I wondered why it was not so simple. That makes a lot of sense...

So good anti malware and anti virus software would be a good investement.

I will look into it.

cheers,

Rhyso

[mindfulmojo]

Hi There,

I have been watching bitcoin closely (and litecoin)... I wan't in.

i have been looking for good articles and info on the best way to buy these, store them an sell them again.

I purchased $15k of gold and silver 2.5 months ago and have watched its value slip slightly while that investment into bitcoin could have seen me with my money back and double that in coins...

It is very frustrating as I was going to, but was a little freaked out by it all...

I am in Dubai and there are several sellers around on the local bitcoin website...

There is just so much to ingest and so much information and none of it seems to be concise enough to fulfill the 'bitcoin for dummies' criteria.

Does anyone have a link to an article, video or thread on this website that fits that criteria?

Cheers in advance for any helpful information.

If someone helps me do this easily I can even consider a small bitcoin donation for the efforts.

I wish I had done this months ago... Hindsight is wonderful, isn't it...

 

Rhyso

I did the same thing last year when silver was at $32 spot so I know how you feel..lol

Figured it would be a good hedge against inflation, still is but the spot price dropped, go figure.

Anyways, you are asking for a bitcoin for dummies guide to bitcoin.

https://www.coindl.com/page/item/242

There you go free from the coindl.com store... you should donate some bitcoin to them for it..  

You don't have to donate any too me.. but just in case...

1JiXABxQWjuARiAnKNWJpfEQ2RSvZq4Zxd

Also this site:

http://usebitcoins.info/

and this site:

http://coinindex.org/

are useful too...