Everything you need to know about the Bitcoin

[raven7886]

Good article for understanding the main thing about bitcoin. I think Bitcoin is not a bubble, but the speculats with this instrument can lower the price or make it too expensive.

Apparently, bitcoin can never be a bubble as a bubble is something with no value at all and the last time I checked, bitcoin has solved a lot of problem that fiat could not solve. Nevertheless, we have to understand that the price of bitcoin at a point in time can be in a state of a bubble which is very normal most especially when all that is driving the market is fueled by greed and not real demand, this is where we always get to see those deep corrections after a huge bull race.

Bitcoin prices are being driven by its popularity which is the core reason for creating demands. Anything which is not having proper reasons and potential may get failed over time but price appreciation of it may happen until its potential is proved wrong. I believe that bitcoin has all the reason hence its price levels are booming and I believe no one will be able to prove these booming are just bubble by exposing those reasons.

[naidray]

Why don't you thinking about BTC as an opportunity to get money? It's volatility allow to have big incomes on even day trading.

It is easy to say you want to make money from the volatile market and then it is easy to lose it all if all you are doing is gambling your position. The thing generally with trading is that you need to have a huge level of knowledge coupled with experience to be able to trade any market and it is not as easy as it looks. For those who may really want to take it serious or be a whole lot dedicated to learning, it is actually a step towards making a lot from it.

If OP's concern is letting us aware of bitcoin market is a bubble then probably this is not the "everything" we all need to know. I read somewhere in this forum that people term the rise of bitcoin from $10k to $20k as bubble whereas rise up to $10k is the actual growth of bitcoins. This means bitcoin market is not exactly a bubble market but may have some of it time to time.

If $10k is the right price for bitcoin by this time then bitcoin market is already doing perfect. It means market is fluctuating between $11k to $6k. In this price range there could be some bubble and some real value due to growth of bitcoins in terms of adoptions.

[googs84]

Thats a good amount of information really. Nicely represented with question and answer form. However I did not know that a bitcoin miner is called as cryptology!
Thats something new I learned from this article so thanks for that one. Rest of the things are generalised ideas about the bitcoin and crypto currencies as whole. I am pretty sure this will help the juniors and other new people to understand the bitcoin more.

Just to add to others who believe that its bubble I am the one who doesn't think like that way. I mean come on its been 9 years now and still this bubble isn't burst. So logically its not the one.

[joykulot]

Wow, this article is very useful for me and to others that is new in cryptocurrency. That is a great information that I need to know.  It has a proper info and it will increase my knowledge.

[senne]

Sincere efforts to help newbies get aware of this technology. Despite it just covers the upper layer of this system, will still cover doubt for many users. This clearly shows that dedicated search and time is spent on creating this article. But unfortunately you are late in posting this article, as there are already many help articles and some of them are donated by Lauda on this form, here are few links to the pages which can further help to know bitcoin.

https://bitcointalk.org/index.php?topic=1631151.0
https://bitcointalk.org/index.php?topic=1629118.0

[Wasaisisi]

I am very grateful for the information you provide. Such basic information is very mandatory to understand for beginners like me. Maybe after reading all the explanations, I just need to look for additional information in order to add knowledge about bitcoin and crypto world.

[Vendetta666]

This is very useful to all newbie, to join their but no idea what bitcoin is. This is full basic  information what newbies want to do. Or to increase their knowledge. Good job friends. I will assure you, I give this links to others.

[beerlover]

I recognise Bitcoin as a step to decentralisation in general. BTC as a phenomenon means that demand for an unregulated and anonymous (well, bitcoin is not totally anonymous, still) currency is huge and sooner or later we'll see that countries' borders mean nothing.

That step to decentralization is one step that has truly changed everything and even though it may be pseudo anonymous, which still does not change the fact that it really is disrupting a whole lot of things for the better. So far so good, it is obvious that the fact that we can do a borderless transaction without a third party is one of the things that is making so many real believers of bitcoin to get into this train except for just some few greedy people who want to make quick bucks overnight.

[Vs225655]

Very useful information. I liked this article, it is useful for a beginner.

Sorry, the author most likely blocked him. Found this on the forum https://bitcointalk.org/index.php?topic=3392516.0

[menloone]

Thanks! 

[FlightyPouch]

I am very grateful for the information you provide. Such basic information is very mandatory to understand for beginners like me. Maybe after reading all the explanations, I just need to look for additional information in order to add knowledge about bitcoin and crypto world.

And I just hope a lot of members here are like you who reads informations like this since there are some that don't really care what they are doing but just care what they are earning.

At first I did search the internet for Bitcoin and there are a lot of articles in the internet that you can read and will really help you.

[JackdunR]

Spend a little bit of time on the Internet and sitting here on the forum I can write a brief instruction on Bitcoin

The starting price of bitcoin, set in 2010, was less than one cent. On November 29, 2017, he crossed the mark of $ 11,000. The rapid rise in prices for it can be a soap bubble. Or the financial community's recognition that so-called cybercurrencies, digital forms of money, are beginning to gain momentum. It's time to determine what a bitcoin is and why it has become so popular.

1. What is a bitcoin?
It is a form of money that is unique in that it can not be held in hand. Most stores do not recognize it. It is not released or supported by the government. By its principle, bitcoin and its analogues are a set of program protocols for creating digital assets and for tracking transactions in a way that complicates the forgery or reuse of these notes. Bitcoin has value only when its users recognize and use it.

2. Where did the bitcoin system come from?
The initial software was released in 2008 by a person or a group of people who use the nickname of Satoshi Nakamoto. Several attempts were made to uncover a real person or group under this name, but none of them succeeded. Internet games have long been using virtual currency. The key idea of ​​the bitcoin is blockade - a publicly accessible, mostly anonymous online account that records bitcoin transactions.

3. How does it work?
Remember what happens when you make an online bank transfer. He checks if you need the money, calculates the amount from one place of a huge database on which the data of the accounts and their balances are stored, and counts them in another. You can see the result by going to your account, but the transaction is under control of the bank. You trust the bank to withdraw the required amount of money, and the bank, in turn, monitors that you will not be able to spend this money again. Blokchain is a database that performs these tracking functions, but without a bank or other central authority.

4. Who can create a cryptology (become a Miner)?
Everyone who has very high-speed computers, lots of electricity and a desire to solve puzzles. Transaction data in each data packet is encrypted by a formula that can be unlocked only by an incredible number of attempts and errors. The operators set up large-scale computing power for work and compete for those who first solve the cipher. If the maze's response is confirmed by others, the data is added to the chain of data blocks, and the maemer receives a newly created bitcoin.

5. How does the system prevent fraud?
Since each block contains data associated with the previous blocks, an attempt to spend the same bitcoin twice will mean the view of many links in the chain. In addition, by competing among themselves, the operators check each other's work.

6. Was the bitcoin used by drug traffickers?
So, when his initial goal was a certain anonymity. It has been used and continues to be used by sites that sell everything from weapons to drugs. In 2013, federal agents found and closed an anonymous e-commerce store with a turnover of $ 1.2 billion - Silk Road (Silk Road). However, soon his place was occupied by others. Joseph Stiglitz, winner of the Nobel Prize for Economics, recently said that bitcoin should be banned because it was designed to avoid regulation and "does not perform any socially useful function."

7. What has changed?
The bitcoin's reputation improved in part because of the fact that fewer large-scale thefts were recorded. And many technological and financial firms were interested in the blockade as an idea separate from the bitcoin.

8. What are the benefits of BlockChein?
Enthusiasts see it as a new way of doing business. Costs may be lower because there is no centralized agent that processes transactions tracking and charges. Banks and stock exchanges have invested heavily in the development of blockade technology, while retailers, such as Wolff, are experimenting with the use of blockers to ensure food safety. Central banks are even thinking about issuing official currency based on blockades. There were other forms of blockade, which often use their own cryptographic currencies to facilitate transactions. The most famous is Efirium, which is sometimes called the platform for so-called smart contracts.

9. What is the rise in the price of bitcoin?
New investors and expectations of other stakeholders, raised this year's price bitcoin by about 11 times. CME Group and other exchanges are planning to offer bitcoin futures contracts that can potentially expand the benefits of bitcoin. The fact that Bitcoin software guarantees its limited supply has given some investors fears about its loss. Coinbase bitcoin traffic has been overloaded two or three times on November 29, 2017, when new users were registered. New hedge funds are opened every week, targeting cryptology. Their number has already exceeded 100. Most of them invest part of their money in bitcoin.

10. Is this a bubble?
Maybe. Some people, especially James Damon, Chief Executive Officer of JPMorgan Chase, call bitcoin "fraud." However, its own bank holding is considering the possibility of providing customers with bitcoin futures. Billionaire Mike Novograts calls cryptology "the biggest bubble of our time," and at the same time launches a $ 500 million fund to invest in it.

Content too long, they make me dizzy. I can not read many words. Perhaps I am a weak person in reading and comprehension. But I also thank you for sharing this precious knowledge for everyone.

[carlisle1]

Great thread here,very useful and trustworthy post this is much worth to read than l those useless and nonsense posts.if not fud,some fake news or most are false hopes.

Sulute you for this mate and continue to do this effort as we wanted to help others here to learn and explore cryptoworld in better way not just for profit but for technology too

[Daniel91]

Spend a little bit of time on the Internet and sitting here on the forum I can write a brief instruction on Bitcoin

The starting price of bitcoin, set in 2010, was less than one cent. On November 29, 2017, he crossed the mark of $ 11,000. The rapid rise in prices for it can be a soap bubble. Or the financial community's recognition that so-called cybercurrencies, digital forms of money, are beginning to gain momentum. It's time to determine what a bitcoin is and why it has become so popular.

1. What is a bitcoin?
It is a form of money that is unique in that it can not be held in hand. Most stores do not recognize it. It is not released or supported by the government. By its principle, bitcoin and its analogues are a set of program protocols for creating digital assets and for tracking transactions in a way that complicates the forgery or reuse of these notes. Bitcoin has value only when its users recognize and use it.

2. Where did the bitcoin system come from?
The initial software was released in 2008 by a person or a group of people who use the nickname of Satoshi Nakamoto. Several attempts were made to uncover a real person or group under this name, but none of them succeeded. Internet games have long been using virtual currency. The key idea of ​​the bitcoin is blockade - a publicly accessible, mostly anonymous online account that records bitcoin transactions.

3. How does it work?
Remember what happens when you make an online bank transfer. He checks if you need the money, calculates the amount from one place of a huge database on which the data of the accounts and their balances are stored, and counts them in another. You can see the result by going to your account, but the transaction is under control of the bank. You trust the bank to withdraw the required amount of money, and the bank, in turn, monitors that you will not be able to spend this money again. Blokchain is a database that performs these tracking functions, but without a bank or other central authority.

4. Who can create a cryptology (become a Miner)?
Everyone who has very high-speed computers, lots of electricity and a desire to solve puzzles. Transaction data in each data packet is encrypted by a formula that can be unlocked only by an incredible number of attempts and errors. The operators set up large-scale computing power for work and compete for those who first solve the cipher. If the maze's response is confirmed by others, the data is added to the chain of data blocks, and the maemer receives a newly created bitcoin.

5. How does the system prevent fraud?
Since each block contains data associated with the previous blocks, an attempt to spend the same bitcoin twice will mean the view of many links in the chain. In addition, by competing among themselves, the operators check each other's work.

6. Was the bitcoin used by drug traffickers?
So, when his initial goal was a certain anonymity. It has been used and continues to be used by sites that sell everything from weapons to drugs. In 2013, federal agents found and closed an anonymous e-commerce store with a turnover of $ 1.2 billion - Silk Road (Silk Road). However, soon his place was occupied by others. Joseph Stiglitz, winner of the Nobel Prize for Economics, recently said that bitcoin should be banned because it was designed to avoid regulation and "does not perform any socially useful function."

7. What has changed?
The bitcoin's reputation improved in part because of the fact that fewer large-scale thefts were recorded. And many technological and financial firms were interested in the blockade as an idea separate from the bitcoin.

8. What are the benefits of BlockChein?
Enthusiasts see it as a new way of doing business. Costs may be lower because there is no centralized agent that processes transactions tracking and charges. Banks and stock exchanges have invested heavily in the development of blockade technology, while retailers, such as Wolff, are experimenting with the use of blockers to ensure food safety. Central banks are even thinking about issuing official currency based on blockades. There were other forms of blockade, which often use their own cryptographic currencies to facilitate transactions. The most famous is Efirium, which is sometimes called the platform for so-called smart contracts.

9. What is the rise in the price of bitcoin?
New investors and expectations of other stakeholders, raised this year's price bitcoin by about 11 times. CME Group and other exchanges are planning to offer bitcoin futures contracts that can potentially expand the benefits of bitcoin. The fact that Bitcoin software guarantees its limited supply has given some investors fears about its loss. Coinbase bitcoin traffic has been overloaded two or three times on November 29, 2017, when new users were registered. New hedge funds are opened every week, targeting cryptology. Their number has already exceeded 100. Most of them invest part of their money in bitcoin.

10. Is this a bubble?
Maybe. Some people, especially James Damon, Chief Executive Officer of JPMorgan Chase, call bitcoin "fraud." However, its own bank holding is considering the possibility of providing customers with bitcoin futures. Billionaire Mike Novograts calls cryptology "the biggest bubble of our time," and at the same time launches a $ 500 million fund to invest in it.

Very good, short and clear explanation about bitcoin for the beginners or employed people who do not have too much time to read and explore.
You really gave me inspiration with your post. I may even share it with my friends who don't know yet about bitcoin but don't have time for long research.

[no0dlepunk]

I hate it! The list is all about rumors not the technology itself... these are not the "EVERYTHING" I need to know about bitcoin. Anyway, it would be more helpful if our dear readers would just go directly to these sites: https://bitcoin.org/ to know more about the real deal. Or you may also visit: https://www.bitcoin.com/ to become a Dragon Slayer.

But honestly, people must read the whitepaper so they may understand the real purpose of bitcoin; and that is EVERYTHING you need to know about it.

[Faxmate]

I am very grateful for the information you provide. Such basic information is very mandatory to understand for beginners like me. Maybe after reading all the explanations, I just need to look for additional information in order to add knowledge about bitcoin and crypto world.

And I just hope a lot of members here are like you who reads informations like this since there are some that don't really care what they are doing but just care what they are earning.

At first I did search the internet for Bitcoin and there are a lot of articles in the internet that you can read and will really help you.

Agree with you, we are not here only to earn money but actually we are here to share our knowledge and gain knowledge about bitcoin, we should teach good ways of making money through bitcoin by using our knowledge, we should read and share at the same time, reading about anything use to enhance our knowledge so never stop reading, at the same time try to share as much as possible but good, encouraging and informative stuff about bitcoin.

[Majharul Saiif]

Spend a little bit of time on the Internet and sitting here on the forum I can write a brief instruction on Bitcoin

The starting price of bitcoin, set in 2010, was less than one cent. On November 29, 2017, he crossed the mark of $ 11,000. The rapid rise in prices for it can be a soap bubble. Or the financial community's recognition that so-called cybercurrencies, digital forms of money, are beginning to gain momentum. It's time to determine what a bitcoin is and why it has become so popular.

1. What is a bitcoin?
It is a form of money that is unique in that it can not be held in hand. Most stores do not recognize it. It is not released or supported by the government. By its principle, bitcoin and its analogues are a set of program protocols for creating digital assets and for tracking transactions in a way that complicates the forgery or reuse of these notes. Bitcoin has value only when its users recognize and use it.

2. Where did the bitcoin system come from?
The initial software was released in 2008 by a person or a group of people who use the nickname of Satoshi Nakamoto. Several attempts were made to uncover a real person or group under this name, but none of them succeeded. Internet games have long been using virtual currency. The key idea of ​​the bitcoin is blockade - a publicly accessible, mostly anonymous online account that records bitcoin transactions.

3. How does it work?
Remember what happens when you make an online bank transfer. He checks if you need the money, calculates the amount from one place of a huge database on which the data of the accounts and their balances are stored, and counts them in another. You can see the result by going to your account, but the transaction is under control of the bank. You trust the bank to withdraw the required amount of money, and the bank, in turn, monitors that you will not be able to spend this money again. Blokchain is a database that performs these tracking functions, but without a bank or other central authority.

4. Who can create a cryptology (become a Miner)?
Everyone who has very high-speed computers, lots of electricity and a desire to solve puzzles. Transaction data in each data packet is encrypted by a formula that can be unlocked only by an incredible number of attempts and errors. The operators set up large-scale computing power for work and compete for those who first solve the cipher. If the maze's response is confirmed by others, the data is added to the chain of data blocks, and the maemer receives a newly created bitcoin.

5. How does the system prevent fraud?
Since each block contains data associated with the previous blocks, an attempt to spend the same bitcoin twice will mean the view of many links in the chain. In addition, by competing among themselves, the operators check each other's work.

6. Was the bitcoin used by drug traffickers?
So, when his initial goal was a certain anonymity. It has been used and continues to be used by sites that sell everything from weapons to drugs. In 2013, federal agents found and closed an anonymous e-commerce store with a turnover of $ 1.2 billion - Silk Road (Silk Road). However, soon his place was occupied by others. Joseph Stiglitz, winner of the Nobel Prize for Economics, recently said that bitcoin should be banned because it was designed to avoid regulation and "does not perform any socially useful function."

7. What has changed?
The bitcoin's reputation improved in part because of the fact that fewer large-scale thefts were recorded. And many technological and financial firms were interested in the blockade as an idea separate from the bitcoin.

8. What are the benefits of BlockChein?
Enthusiasts see it as a new way of doing business. Costs may be lower because there is no centralized agent that processes transactions tracking and charges. Banks and stock exchanges have invested heavily in the development of blockade technology, while retailers, such as Wolff, are experimenting with the use of blockers to ensure food safety. Central banks are even thinking about issuing official currency based on blockades. There were other forms of blockade, which often use their own cryptographic currencies to facilitate transactions. The most famous is Efirium, which is sometimes called the platform for so-called smart contracts.

9. What is the rise in the price of bitcoin?
New investors and expectations of other stakeholders, raised this year's price bitcoin by about 11 times. CME Group and other exchanges are planning to offer bitcoin futures contracts that can potentially expand the benefits of bitcoin. The fact that Bitcoin software guarantees its limited supply has given some investors fears about its loss. Coinbase bitcoin traffic has been overloaded two or three times on November 29, 2017, when new users were registered. New hedge funds are opened every week, targeting cryptology. Their number has already exceeded 100. Most of them invest part of their money in bitcoin.

10. Is this a bubble?
Maybe. Some people, especially James Damon, Chief Executive Officer of JPMorgan Chase, call bitcoin "fraud." However, its own bank holding is considering the possibility of providing customers with bitcoin futures. Billionaire Mike Novograts calls cryptology "the biggest bubble of our time," and at the same time launches a $ 500 million fund to invest in it.

wow,I also learn from here.I think this post will help many person who want to know about crypto currency details.Everyone need to know about those .

[Domenc]

I hate it! The list is all about rumors not the technology itself... these are not the "EVERYTHING" I need to know about bitcoin. Anyway, it would be more helpful if our dear readers would just go directly to these sites: https://bitcoin.org/ to know more about the real deal. Or you may also visit: https://www.bitcoin.com/ to become a Dragon Slayer.

But honestly, people must read the whitepaper so they may understand the real purpose of bitcoin; and that is EVERYTHING you need to know about it.

I know white paper is important to understand the technology better but here this article is just an overview of the system. It is very difficult to crate interest by reading white paper or reading at sites directly, hence such source of information help to grab new users. Once they read this article they will get the basic meaning of Bitcoin and then further research about it due to their curiosity.

[ov3rflow9x]

I have my personal reason for buy bitcoin, I need to invest my money in btc since it given me a chance to earn good profit for just investments

[Epimetheus]

I know bitcoin is a digital currency that has existed for nearly 10 years in the market. Investors will use it to invest in the ico then they will be stocked and the company will have the ico program to call capital for production business ....

Bitcoin is one kind of crypto currency created by satoshi Nakamoto in 2009. After seeing the success of Bitcoin there are many other crypto currency are discovered . Bitcoin is world first decentralised digital currency which means it can't control by a single person or authority. Bitcoin is mainly used for money transaction because bitcoin provide world most safest and uninterrupted money transaction. And all transactions record in Blockchain. Which is known as heart of Bitcoin. Bitcoin is not globally accepted. Both Internet and electricity need for it access. In order to use bitcoin their no need of experience or age certificate. In many countries it work government to reduce unemployment issues in their country. Many economist see Bitcoin as a future currency.