Trying to make sense of bitcoin

[kooboat]

The world of cryptocurrencies is a very fascinating atmosphere but trust me, you can't understand everything about bitcoin in a day. Just take your time and you would appreciate how bitcoin and the altcoins works. Don't get confused, cryptocurrencies like bitcoin can be used in all parts of the world. The challenge has always been governmental interference and regulatory issues.

[Ridwan Fauzi]

Actually everyone can make a coin such as bitcoin or altcoin if he has knowledge how to create it, but I doubt he will be successful to launch his coin in an exchange. He needs a lot of capital to doing this and need need experienced people to attact many people in order to buy and using the coin/token. This is why the project out there use many ways such as through IEO or ICO to raise funds in order to the project is created can be using by many people. You can choose IEO or ICO if you have an idea to create your own coin.

[libert19]

I actually don't understand first one either. All cryptos can be used for payments worldwide, and they are far cheaper.

well if you stop thinking of bitcoin and altcoins as investments and start ignoring the price while seeing them as currencies then you will get your answer.

put yourself in the shoes of someone who wants to make a payment online. you have the options that you have been using for years (fiat payments including credit cards, paypal,...) now if you want an alternative you are looking for certain aspects such as being decentralized, having full control, having high security, being fast and cheap,...
now all of that is offered by bitcoin but not altcoins. many of the altcoins are centralized, they are not immutable, they are very slow and most importantly lack security. many of them are poor copies of bitcoin so why would you ever choose them instead of the original?

you see when you are just looking at altcoins as investments that get pumped and give you profit you ignore things such as lack of immutability (in other words having transactions reversed!) but when you want to use it as a payment, you will care about things like that a lot.

I beg to differ. Last time I checked, most Bitcoin miners are from china and during last binance hack, cz had actually thought to reverse the chain.

[iMark]

New to bitcoin but having problems understanding it.  Why can't anyone else create a coin that can be used worldwide, why do bitcoin and altcoins have the same value all over the world?

What is the benefit of a retailer or business in US letting its customers pay via bitcoin?

How do you trade bitcoin?

First making a coin is not easy, even though you are good at programming for making coins, there are still other problems such as how the coin listed and has a price in the market and attracts a lot of people.
related to retailers benefits, of course they get new markets for their buyer, if they add payment using bitcoin, of course many bitcoin users will start shopping in their stores.

[lepbagong]

New to bitcoin but having problems understanding it.  Why can't anyone else create a coin that can be used worldwide, why do bitcoin and altcoins have the same value all over the world?

Obviously it will certainly be the same, because everything is connected to the same system and online simultaneously at any time even seconds. maybe what will differentiate only later on the market.

What is the benefit of a retailer or business in US letting its customers pay via bitcoin?

as long as it will provide convenience for the customer, what needs to be doubted. because this transaction is the same as other cards, debit cards or credit cards.

How do you trade bitcoin?

trading is easy and available.
there is nothing difficult of course if you also want to read a little and follow the things in the BTT, because explanations are quite available.

[xvids]

New to bitcoin but having problems understanding it.  Why can't anyone else create a coin that can be used worldwide, why do bitcoin and altcoins have the same value all over the world?

What is the benefit of a retailer or business in US letting its customers pay via bitcoin?

How do you trade bitcoin?

First of all Bitcoin could be used worldwide it is just up to the other people if they would like to use it.
And Bitcoin and alt-coin have a different value and their value is based on their supply and the demands.
The benefits of retailer and customers that are using Bitcoin would depend on the wallet that they are using.
For example here in the Philippines our local Bitcoin wallet would give us some discount when we pay some bills or load using their system.

[CaVO32]

New to bitcoin but having problems understanding it.  Why can't anyone else create a coin that can be used worldwide, why do bitcoin and altcoins have the same value all over the world?

What is the benefit of a retailer or business in US letting its customers pay via bitcoin?

How do you trade bitcoin?

First of all Bitcoin could be used worldwide it is just up to the other people if they would like to use it.
And Bitcoin and alt-coin have a different value and their value is based on their supply and the demands.
The benefits of retailer and customers that are using Bitcoin would depend on the wallet that they are using.
For example here in the Philippines our local Bitcoin wallet would give us some discount when we pay some bills or load using their system.

one major advantage of bitcoin in businesses is that it is a very convenient option for the consumers having fast transaction in place. i do trade in bitcoin via exchanges of course. most of the time using my local exchange - converting bitcoin to my fiat currency when i needed it.

[TheCoinGrabber]

Well, first read about Bitcoin and cryptos in general so you'd know what you're getting in and not so easily scammed.

As for your other question, anyone CAN make their own alts. I've seen alts based on various stuff like hugs, brushing teeth, etc. It just all depend on the trust, whether people would keep on using it.

[diahsw]

New to bitcoin but having problems understanding it.  Why can't anyone else create a coin that can be used worldwide, why do bitcoin and altcoins have the same value all over the world?

What is the benefit of a retailer or business in US letting its customers pay via bitcoin?

How do you trade bitcoin?

the benefit of retailers or businesses in the US is to let their customers pay through bitcoin because.
1. Safer
2. Don't Require Intermediaries
3. Reaching Everyone, Anytime and Anywhere
4. You are the Control Holder

Selling Bitcoin can be tricky because there is a lot more information about you to ask for regulations in the jurisdiction in which they are located. However, there are two main methods for exchanging Bitcoin or Crypto currencies - directly with someone through online or physical collaboration when meeting, or through online transportation.
By taking risks in their own way and various requirements - more risk with direct trading but have higher requirements. sell Bitcoindi Coinbase or trade in Bitcoin with leverage on Bitmex.
If you want to trade directly with other people who are brave, it can be done through Local Bitcoin and also choose to meet directly with the person by asking the time and location to meet and exchange Bitcoin with cash. Other exchanges / dompethibrida can be used to exchange Bitcoin internally within their ecosystem by mediating the price chosen through market analysis and its midpoint