Everything you need to know about the Bitcoin

[hatsoff2btc]

Incredible data! This gives an appropriate definition about what Bitcoin is and how the crypto world function. It additionally clarifies the advantages and a few downsides about utilizing crypto. In any case, I think it is just a state of mind about crypto on the off chance that we can utilize this square chain innovation legitimately than it is an exceptionally incredible innovation like web. This will unquestionably be utilized as a part of the vast majority of the fields later on.

Yes this is Topic is very helpful especially for newbies and I think the mods here should pin it to the top cause I usually some newbies posting new Topics and asking questions on what is Bitcoin and how it works. And for the way we utilize this new form of technology, I don’t think it’s really easy for us to be making use of this as we do with regular currency cause of its nature.

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[MeganRice1212]

Payment Method Unlike a credit card, the cost of sending Bitcoin is voluntarily paid by the sender (not the recipient). The higher the Bitcoin cost, the better the deal. Bitcoin payments are much cheaper than paying for a credit card or transfer. For international payment via credit card, the business side will lose 2-3% of card payment costs and customers will lose about 5% of the foreign exchange fee. Bitcoin fees do not depend on the amount of deposit, making Bitcoin very attractive to those who want to deposit large amounts. Example: Millions of dollars worth of bitcoins can be sent anywhere in the world with just a few pennies paid to the diggers.

[davinchi]

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.

That part on whether it’s a bubble or not a bubble, lol, people always say that they don’t know whether it is a bubble or not a bubble. Well, I think it’s a bubble judging from the way the price is going up and down, it’s way too much. All these billionaires and rich people calling Bitcoin fraud and all sort of names are all just tricksters and fools.

It’s likely to be that they are investing secretly in Bitcoin, but when they come open they pretend they don’t and call it a fraud. Lol, never trust such people.

[MaryClark12]

The investment in Bitcoin
There are many ways to buy or sell Bitcoin: placing orders to buy or sell Bitcoins on the exchange, either directly through a broker, or at Bitcoin ATMs. Bitcoins are often traded as a form of investment. Some investment funds are interested in Bitcoin. Typically, Bitcoin 21 Inc received $ 116 million in financing, Coinbase received $ 106.7 million, Peter Thiel personally invested $ 3 million, and Winklevoss spent $ 1 million. $ 5 million. Investors include big names such as Andreessen Horowitz, Khosla Ventures, Google Ventures, RRE Ventures, NYSE, Pantera Capital, Goldman Sachs, Nasdaq, and BBVA. By the end of 2015, significant investors in the world have invested a total of more than $ 1 billion to develop Bitcoin companies. According to a study by the University of Cambridge in 2017, about 2.9 million to 5.8 million global users are using encrypted wallets that are primarily Bitcoin. Bitcoin investments, as well as gold or foreign exchange channels, contain risks and concerns about a kind of financial bubble in the commercial sector on the Internet. Barry Silbert, chief executive of Nasdaq Private Market, commented: Bitcoin is the riskiest and profitable investment channel today. Economists have recommended that central banks reserve between 0.01% and 5% of their foreign reserves for Bitcoin to protect against currency risks.

[dewildance]

It's one of the most comprehensive articles I've ever read about Bitcoin. An article with a larger content may also be useful.

[BrookeClarke]

Thank you for helping the newbie to understand Bitcoin. Such articles are very useful

[ordeath]

This reading was the most insightful and useful that I have ever read on this forum so far, so if I would have some merits free I would definitely give it to you. Thank you bro for that global and detailed explanation, some of the things I have already knew of course but some were new for me even.

[Ganbound]

I have nothing to say, but I know that something is quite important when you decide to trade or hold a BTC, which is always good security, hackers always stalking our account. So always put security on top.

These are the basic of crypto trading no doubt about it. But I think that there so many other measures which are also too much import to keep in mind while entering in crypto trading. One of the most important think is to get some experience before putting big money in trading.

[virasog]

It's one of the most comprehensive articles I've ever read about Bitcoin. An article with a larger content may also be useful.

I agree with you that it is one most of the comprehensive articles which give us many answers about bitcoin. Although it is long article but it is helpful for a newly trader, like when i came in bitcoin field, then i searched about these type of articles.

[noormcs5]

Incredible data! This gives an appropriate definition about what Bitcoin is and how the crypto world function. It additionally clarifies the advantages and a few downsides about utilizing crypto. In any case, I think it is just a state of mind about crypto on the off chance that we can utilize this square chain innovation legitimately than it is an exceptionally incredible innovation like web. This will unquestionably be utilized as a part of the vast majority of the fields later on.

Yes this is Topic is very helpful especially for newbies and I think the mods here should pin it to the top cause I usually some newbies posting new Topics and asking questions on what is Bitcoin and how it works. And for the way we utilize this new form of technology, I don’t think it’s really easy for us to be making use of this as we do with regular currency cause of its nature.

Yeah, it is true, this article really helpful for a new trader  and it is in detail, in this cause, it is give us many answers about our confusion as a newbies. Now today everyone want to know about bitcoin, then i think these people need to read this article for hidden questions. Again as i usually mention knowledge is must if we need to grow in whatever field and same applies on bitcoins and other digital assets.

[paynercash]

Incredible data! This gives an appropriate definition about what Bitcoin is and how the crypto world function. It additionally clarifies the advantages and a few downsides about utilizing crypto. In any case, I think it is just a state of mind about crypto on the off chance that we can utilize this square chain innovation legitimately than it is an exceptionally incredible innovation like web. This will unquestionably be utilized as a part of the vast majority of the fields later on.

What bitcoin has done for the community is the development of technology. And there are many good things that have come up with people, it gives them good returns. Especially shorten the transaction time and do not take much service costs. Rapid transactions and exchanges between countries are very convenient, which are the things bitcoin has given life.

[princejohn19]

This post is so helpfull to many newbies all they want to know about bitcoin is here so that it can help them to know a lot with bitcoin.

[Zadeket]

It's one of the most comprehensive articles I've ever read about Bitcoin. An article with a larger content may also be useful.

Everyone involved in bitcoin must always observe the development of bitcoin, because it will affect the bitcoin trade. That is, the information is related to the rise or fall of bitcoin prices, so that the analysis and proper execution time in bitcoin trading will increase profit opportunities.

[charlotte04]

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.

Some people do not need to know what is Bitcoin because all they want is just how can it give me so many money and nothing more.

[shadyrifles]

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

Bitcoin is a bubble unless whales are out of the game, level of low investors in bitcoin and cryptocurrencies remains extremely low. Just consider and think about your friends, relatives, and associates. How many of them even own bitcoin?
I personally believe that the bitcoin bubble still has room to soar.

You can say there will be blood at some stages but you can't say it bubble, the bubble won't burst until the main game players are in business.