I'm a bitcoin beginner, should I buy this book?

[BlackHatCoiner]

https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861
The Bitcoin Standard: The Decentralized Alternative to Central Banking

From the reviews I've read that it's too good. It generally talks about value, not only about bitcoin. Has anyone read it here?

[1713562298]

1713562298

[1713562298]

1713562298

[BIT-BENDER]

Indeed you are a new guy so read this
https://bitcointalk.org/index.php?topic=1689727.0

Desist from making this sort of post. If you seek interest on everything Bitcoin the read a lot of Bitcoin books, afterwards you would have a better question to ask Than this, your questions would become more specific cornering Bitcoin matters. Also read on matters of the forum to guide you

[Jawhead999]

Honestly I didn't read that books

Looks like that's book have free ebook version here, so you can read the book without buy it 

Just check his thread  [RESOURCES] Free bitcoin/blockchain/finance eBook , he also share free many ebooks about bitcoin, finance and blockchain.

-snip-

He is not a new guy, he was register in this forum on March 04, 2020, 07:39:01 PM.
I think it's doesn't matter if he ask like this, since this board is for beginner who new about forum or bitcoin

Beginners & Help - All primitive questions (to pros like us Cool) like "what are ASICS", "who is satoshi" and "what is mining" should stay here

[BlackHatCoiner]

Honestly I didn't read that books

Looks like that's book have free ebook version here, so you can read the book without buy it 

Just check his thread  [RESOURCES] Free bitcoin/blockchain/finance eBook , he also share free many ebooks about bitcoin, finance and blockchain.

-snip-

He is not a new guy, he was register in this forum on March 04, 2020, 07:39:01 PM.
I think it's doesn't matter if he ask like this, since this board is for beginner who new about forum or bitcoin

Beginners & Help - All primitive questions (to pros like us Cool) like "what are ASICS", "who is satoshi" and "what is mining" should stay here

Wow, thank you for the link. He really has uploaded the pdfs online in drive. About that if I'm new here, no. I'm not new at bitcointalk, but I'm new at learning crypto. I just had created an account, and then didn't do much research.

[bitmover]

Have you read the most classic bitcoin books first?
Mastering Bitcoin and Internet of Money are the most popular bitcoin books out there, and they are very good. You can read mastering bitcoin for free here:
https://github.com/bitcoinbook/bitcoinbook

[BrewMaster]

You can read mastering bitcoin for free here:
https://github.com/bitcoinbook/bitcoinbook

mastering bitcoin is all about the technical aspect of bitcoin (keys, addresses, network, cryptography, security,...). OP seems to be looking for the economical aspect of bitcoin though according to the book he linked.

[BlackHatCoiner]

You can read mastering bitcoin for free here:
https://github.com/bitcoinbook/bitcoinbook

mastering bitcoin is all about the technical aspect of bitcoin (keys, addresses, network, cryptography, security,...). OP seems to be looking for the economical aspect of bitcoin though according to the book he linked.

Well I have some questions like "Why does bitcoin value?", "How does mining gives you bitcoins? I mean, why these hard math solutions worth something?", "Why is there a fee when I want to send a bitcoin? Does miners get that?", "Who confirms that I transfered bitcoins so it can be written in the blockchain? Are they just 6 random guys?".

But I want to master my bitcoin knowledge. I want to fully understand all the cryptography behind this. I want to know what that genius, @satoshi, thought back then.

I hope you know now, what am I looking for. I think I came to the right place.

[BrewMaster]

Well I have some questions like "Why does bitcoin value?", "How does mining gives you bitcoins? I mean, why these hard math solutions worth something?", "Why is there a fee when I want to send a bitcoin? Does miners get that?", "Who confirms that I transfered bitcoins so it can be written in the blockchain? Are they just 6 random guys?".

But I want to master my bitcoin knowledge. I want to fully understand all the cryptography behind this. I want to know what that genius, @satoshi, thought back then.

I hope you know now, what am I looking for. I think I came to the right place.

mastering bitcoin will cover the technical parts and you will get the answer to most of your questions about mining, reward, confirmation and cryptography behind bitcoin. reading the introduction and how bitcoin works chapters should get you started.

but some questions such as "why does bitcoin have value" is not easy to answer and i don't think i've seen it anywhere. basically the reason is because bitcoin has utilities that are well needed. the ability to transfer money from one place to another around the globe in matter of seconds by paying a miniscule fee and without needing any middle man such as banks is worth a lot.

[BlackHatCoiner]

Well I have some questions like "Why does bitcoin value?", "How does mining gives you bitcoins? I mean, why these hard math solutions worth something?", "Why is there a fee when I want to send a bitcoin? Does miners get that?", "Who confirms that I transfered bitcoins so it can be written in the blockchain? Are they just 6 random guys?".

But I want to master my bitcoin knowledge. I want to fully understand all the cryptography behind this. I want to know what that genius, @satoshi, thought back then.

I hope you know now, what am I looking for. I think I came to the right place.

mastering bitcoin will cover the technical parts and you will get the answer to most of your questions about mining, reward, confirmation and cryptography behind bitcoin. reading the introduction and how bitcoin works chapters should get you started.

but some questions such as "why does bitcoin have value" is not easy to answer and i don't think i've seen it anywhere. basically the reason is because bitcoin has utilities that are well needed. the ability to transfer money from one place to another around the globe in matter of seconds by paying a miniscule fee and without needing any middle man such as banks is worth a lot.

Yes but why 6,193.81 euro today and why not 10.000

I mean it's price is changing too often. I read that bitcoin is like a bubble. Do you believe that some day it will worth 0$ or 100.000$?

[Coyster]

Yes but why 6,193.81 euro today and why not 10.000

Many reasons come to mind, one very conspicuous one is the current global crisis that is affecting the economy, loss of money and loss of jobs has led people to panic and sell off their bitcoin, to settle needs and when a large number of people sell and convert to fiat, there is less demand and it reduces the price. It would only go up when more people are interested in bitcoin(adoption), that would mean more supply and that'll result in an increase in price.

I mean it's price is changing too often. I read that bitcoin is like a bubble. Do you believe that some day it will worth 0$ or 100.000$?

The price changes often, it's due to volatility, and stability would come, but that will happen as time goes on.
A bubble? Not at all; if it is, it's a bubble that won't burst
$0? That's not possible
$100,000? Too optimistic to expect that price
Edit:

Do you think that after the coronavirus crisit, the price will rise?

If I say yes, or if I say no; I'll just be speculating and it's a dangerous thing or message to pass on to newbies, they can be lured into investing wrongly. The price can rise before/after the pandemic is over, it can also fall more before the pandemic ends; nobody can accurately or correctly predict it.

[BlackHatCoiner]

Yes but why 6,193.81 euro today and why not 10.000

Many reasons come to mind, one very conspicuous one is the current global crisis that is affecting the economy, loss of money and loss of jobs has led people to panic and sell off their bitcoin, to settle needs and when a large number of people sell and convert to fiat, there is less demand and it reduces the price. It would only go up when more people are interested in bitcoin(adoption), that would mean more supply and that'll result in an increase in price.

I mean it's price is changing too often. I read that bitcoin is like a bubble. Do you believe that some day it will worth 0$ or 100.000$?

The price changes often, it's due to volatility, and stability would come, but that will happen as time goes on.
A bubble? Not at all; if it is, it's a bubble that won't burst
$0? That's not possible
$100,000? Too optimistic to expect that price

Do you think that after the coronavirus crisit, the price will rise?

[BrewMaster]

Yes but why 6,193.81 euro today and why not 10.000

I mean it's price is changing too often. I read that bitcoin is like a bubble. Do you believe that some day it will worth 0$ or 100.000$?

that is a different question than why bitcoin has value though.
"how much price" is mainly related to the supply and demand and also the way the market works.
i believe that bitcoin will continue to rise because as i said it is very useful and as its is adopted by more people the demand increases and with the limited supply price will continue to rise until we reach mass adoption.

ps. those who call bitcoin a bubble are either referring to a very short amount of time such as last month of 2017 that price did actually enter a big bubble in which case it is only true for that period.
or they are trying to spread FUD and scare other people.

[BlackHatCoiner]

or they are trying to spread FUD and scare other people.

No, no I don't want that. I just read the bubble reference on a wikipedia article (I think).

So if we reach that mass adoption you said, do you believe the price will get increased or decreased and why?

[TryNinja]

So if we reach that mass adoption you said, do you believe the price will get increased or decreased and why?

Mass adoption means a lot of people will be buying and using BTC, right? Or just using it completely (send BTC to the groceries shop, the groceries send to the supplier, the supplier sends to the farmer, etc...) which means, less people selling for fiat (USD/EUR) since they do not need that. And like said above, BTC price is correlated to the supply and demand of the market, so the answer is: increased.

Keep in mind that this is not something exclusive of Bitcoin. And if you want to understand what moves the price of BTC in the first place, you need to understand this. Take a look at this link: https://www.investopedia.com/terms/l/law-of-supply-demand.asp

[Asuspawer09]

https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861
The Bitcoin Standard: The Decentralized Alternative to Central Banking

From the reviews I've read that it's too good. It generally talks about value, not only about bitcoin. Has anyone read it here?

I would say reading books about bitcoin is strongly recommended just like what they say knowledge is power, but personally I don't really like reading books and I could sure I'm pretty knowledgeable in bitcoin or trading, etc. with that I could say that having this book is not required to join the bitcoin community or cryptocurrency but what is sure is you are going to get a lot form that book.

Have you read the most classic bitcoin books first?
Mastering Bitcoin and Internet of Money are the most popular bitcoin books out there, and they are very good. You can read mastering bitcoin for free here:
https://github.com/bitcoinbook/bitcoinbook

I guess reading online was also a good option since you don't really need to buy or put money in it. But if your a book person or someone that can concentrate more if he reading a book I guess buying the book is better.

you could also check this thread of Maus0728 :

https://bitcointalk.org/index.php?topic=5238586.msg54194205#msg54194205

[bitmover]

mastering bitcoin is all about the technical aspect of bitcoin (keys, addresses, network, cryptography, security,...). OP seems to be looking for the economical aspect of bitcoin though according to the book he linked.

I think Internet of Money have some more information about those economical aspects of bitcoin. He could give a try.

Well I have some questions like "Why does bitcoin value?",

All those queestions are answered in Mastering Bitcoin book that I told you earlier.

Bitcoin has value for many reasons, one of them is scarcity and the adoption. There are millions of people using the network.

"How does mining gives you bitcoins? I mean, why these hard math solutions worth something?",

It is called proof of work. Miners make a service, which is: secure the network, choose which transactions should be confirmed, create new blocks, etc.

I made a brief summary about proof of work here https://bitcointalk.org/index.php?topic=3317586.msg34646752#msg34646752

"Why is there a fee when I want to send a bitcoin? Does miners get that?",

THere is a fee for transferring because nothing is free in this world. Miners are working to confirm your transactions, so it is fair that they receive a fee for that service.

"Who confirms that I transfered bitcoins so it can be written in the blockchain? Are they just 6 random guys?".

No, they are the miners. Thousands of them out there. Anyone with a computer and internet connection can be a miner

[BlackHatCoiner]

Anyone with a computer and internet connection can be a miner

Thank you for your answers. About that. Did satoshi created a software so we can mine? From pc.

[bitmover]

Thank you for your answers. About that. Did satoshi created a software so we can mine? From pc.

That is exactly what satoshi did. This software is called bitcoin core, which there is a link here in the upper part of the forum's website:

News: Latest Bitcoin Core release: 0.19.1 (https://bitcoin.org/en/download) [Torrent (https://bitcointalk.org/bitcoin-0.19.1.torrent)]

That software is a full node wallet. It will download the entire blockchain, which is about 250Gb.

But you can use lightweight wallets, such as Electrum.

[BlackHatCoiner]

Thank you for your answers. About that. Did satoshi created a software so we can mine? From pc.

That is exactly what satoshi did. This software is called bitcoin core, which there is a link here in the upper part of the forum's website:

News: Latest Bitcoin Core release: 0.19.1 (https://bitcoin.org/en/download) [Torrent (https://bitcointalk.org/bitcoin-0.19.1.torrent)]

That software is a full node wallet. It will download the entire blockchain, which is about 250Gb.

But you can use lightweight wallets, such as Electrum.

So if I understood correctly. Electrum is a wallet that reads the blockchain from a server of its own (so I don't need to download the 250gb file) and when I want to send BTC to someone else, the checking is happening from that blockchain.

I have 2 questions for you mate.

1) Where does it download the blockchain file? Bitcoin.org?
Image: https://i.imgur.com/NyyNdOp.png

2) While sending the bitcoins, does it sum all of my transactions in the blockchain to see if my BTCs I'm telling it to send exist?

[bitmover]

I have 2 questions for you mate.

1) Where does it download the blockchain file? Bitcoin.org?
Image: https://i.imgur.com/NyyNdOp.png

You can download it at https://bitcoin.org/en/download
But I recommend that you try electrum first, which is easier to use. Download only from https://www.Electrum.org

2) While sending the bitcoins, does it sum all of my transactions in the blockchain to see if my BTCs I'm telling it to send exist?

Yes, of course it does.
You can check any transaction that every happen in the blockchain network here:

https://blockchair.com/

For example, this is a blockchain address with some transactions:
https://blockchair.com/bitcoin/address/bc1q9adplt3j4gkxptejwnrm57xu2nm6suayuks7ec