I would like the confirmation of more expert people on what Bitcoin is

[FranzEsco]

Hello all
In my research and understanding of what Bitcoin is I struggled a lot as google keeps showing results that tell me too complicated things that talk in a jargon that I don't know/understand.
I seem to have found a website that looks very simple and I would like to know if what they write is true or it is just another scammy websites...
I don't know who else I can ask, so I am posting here hoping to see if you can confirm whether I found on this page is correct or not.
The guy seems legit to me as I follow him on YouTube and has some good advises, but yet, I don't  trust much what I find online talking about Bitcoin because I often feel that all the information ranking is just the same stuff reworded... I find this article completely different, but I have no clue
Thanks in advance
https://www.promisingtrader.com/cryptocurrency/bitcoin/what-is-bitcoin

[Lucius]

Have you found this site in your search? -> https://bitcoin.org/en/how-it-works

Most of the things you are interested in are likely to be found on that site, and there is also link to Bitcoin Wiki where you can get even more detailed information -> https://en.bitcoin.it/wiki/Main_Page

I don't want to comment on the page you posted, it is best for you to make a comparison now that you have the relevant sources

[o_e_l_e_o]

Bitcoin is a peer-to-peer electronic cash system.

Rather than reading random blogs and watching YouTube videos, the best place to learn about bitcoin is directly from the source.
Read bitcoin's whitepaper here: https://bitcoin.org/bitcoin.pdf
After that, take a look at the https://bitcoin.org/ link Lucius has provided above. You'll find plenty of simple to understand information under "Resources" and "FAQs" as well.

[FranzEsco]

Have you found this site in your search? -> https://bitcoin.org/en/how-it-works

Most of the things you are interested in are likely to be found on that site, and there is also link to Bitcoin Wiki where you can get even more detailed information -> https://en.bitcoin.it/wiki/Main_Page

I don't want to comment on the page you posted, it is best for you to make a comparison now that you have the relevant sources

Thanks, well, yes, that's one of the first things I have seen about Bitcoin, but to be honest, it doesn't say much, the mere fact that it talks about cryptografy also put me down.. I must admit that I don't find the bitcoin.org website particuarly helpful in my research... it only helped to a certain point, but everytime I think to have understood something based on its information, there is someone telling me that it's not correct... so this rabbit hole looks much deeper than it really is...

On the other hand, that article compares it with money, which is something I have never found before... I would love if you could tell me your opinion on that if you understand Bitcoin

[o_e_l_e_o]

On the other hand, that article compares it with money, which is something I have never found before... I would love if you could tell me your opinion on that if you understand Bitcoin

Bitcoin is money. Bitcoin fulfills the three main criteria for being classed as money:

• a medium of value - the price of other goods can be expressed in bitcoin.
• a store of value - bitcoin can be safely and securely stored and accessed when required, although it has a very unstable value over time compared to most types of fiat money.*
• a medium of exchange - self explanatory. Bitcoin can be exchanged for goods or services.

*Fiat money is what most people think of when you use the term "money" - currency created and maintained by the government of a country.

[PointHope]

Hello all
In my research and understanding of what Bitcoin is I struggled a lot as google keeps showing results that tell me too complicated things that talk in a jargon that I don't know/understand.
I seem to have found a website that looks very simple and I would like to know if what they write is true or it is just another scammy websites...
I don't know who else I can ask, so I am posting here hoping to see if you can confirm whether I found on this page is correct or not.
The guy seems legit to me as I follow him on YouTube and has some good advises, but yet, I don't  trust much what I find online talking about Bitcoin because I often feel that all the information ranking is just the same stuff reworded... I find this article completely different, but I have no clue
Thanks in advance
https://www.promisingtrader.com/cryptocurrency/bitcoin/what-is-bitcoin

I would recomend watching some Andreas Antonopolos videos to help your understanding...

Important fact to remember, that Bitcoin is represented by the world's largest, most powerful globally decentralized computer network.
This network provides the security and proof of work which is inherent in the currency value.

Ya got a some studying to do..
Cheers PH.

[amishmanish]

From the domain name he seems to be one of those people who will tell you to trade in Alts by giving you "signals" when to pump and dump. These schemes are ultimately made only to make money for them.
There are several good resources if you really want to understand the technology behind bitcoin. Please try to understand that it is not very wise to go for the "Ohh its all too complicated and technical". Information is freely available on the internet. Getting to know bitcoin can be a time-consuming but rewarding process. Consider the sorurces on Jameson Lopp's website where he has links from an ELI5 to highly technical explanations suitable for whatever your level maybe:

https://www.lopp.net/bitcoin-information/getting-started.html

[FranzEsco]

From the domain name he seems to be one of those people who will tell you to trade in Alts by giving you "signals" when to pump and dump. These schemes are ultimately made only to make money for them.
There are several good resources if you really want to understand the technology behind bitcoin. Please try to understand that it is not very wise to go for the "Ohh its all too complicated and technical". Information is freely available on the internet. Getting to know bitcoin can be a time-consuming but rewarding process. Consider the sorurces on Jameson Lopp's website where he has links from an ELI5 to highly technical explanations suitable for whatever your level maybe:

https://www.lopp.net/bitcoin-information/getting-started.html

Nope, the guy is actually selling mugs lol

I follow him on YouTube and he is not selling signals, actually is one of the very few youtubers who go straight to the point and is also very accurate in determining targets.

I tend to trust him because of that, but I don't know whether what he says  there is correct or not... I don't know who to trust anymore... I have been searching for this and all those websites like coin telegraph, coin whatever, they all seem carboncopied of each other.... this guy has an angle that I have never seen, but I don't know if what he says is true or correct.

[o_e_l_e_o]

all those websites like coin telegraph, coin whatever, they all seem carboncopied of each other

Crypto "news" sites like coin telegraph, coin idol, etc., are almost universally complete trash. They are largely clickbait, very poorly researched (if at all), often inaccurate or completely wrong, and should be avoided.

I would suggest that if you are struggling to grasp what bitcoin is, the website of a trader aimed at teaching people to trade is a poor place to start. You'll do much better following some of the links in this thread.

[FranzEsco]

all those websites like coin telegraph, coin whatever, they all seem carboncopied of each other

Crypto "news" sites like coin telegraph, coin idol, etc., are almost universally complete trash. They are largely clickbait, very poorly researched (if at all), often inaccurate or completely wrong, and should be avoided.

I would suggest that if you are struggling to grasp what bitcoin is, the website of a trader aimed at teaching people to trade is a poor place to start. You'll do much better following some of the links in this thread.

Thanks, but my question was different... I understand that I will never get an answer.. really appreciate it!

[avikz]

Hello all
In my research and understanding of what Bitcoin is I struggled a lot as google keeps showing results that tell me too complicated things that talk in a jargon that I don't know/understand.
I seem to have found a website that looks very simple and I would like to know if what they write is true or it is just another scammy websites...
I don't know who else I can ask, so I am posting here hoping to see if you can confirm whether I found on this page is correct or not.
The guy seems legit to me as I follow him on YouTube and has some good advises, but yet, I don't  trust much what I find online talking about Bitcoin because I often feel that all the information ranking is just the same stuff reworded... I find this article completely different, but I have no clue
Thanks in advance
https://www.promisingtrader.com/cryptocurrency/bitcoin/what-is-bitcoin

This article seems to have spoken about a lot things along with bitcoin like inflation and demonetization. It has also talked about the decentralized ledger system and other stuffs which is "good to know". I have just glanced through the article and didn't find anything objectionable.

Is there anything particular you want to know?

[FranzEsco]

Hello all
In my research and understanding of what Bitcoin is I struggled a lot as google keeps showing results that tell me too complicated things that talk in a jargon that I don't know/understand.
I seem to have found a website that looks very simple and I would like to know if what they write is true or it is just another scammy websites...
I don't know who else I can ask, so I am posting here hoping to see if you can confirm whether I found on this page is correct or not.
The guy seems legit to me as I follow him on YouTube and has some good advises, but yet, I don't  trust much what I find online talking about Bitcoin because I often feel that all the information ranking is just the same stuff reworded... I find this article completely different, but I have no clue
Thanks in advance
https://www.promisingtrader.com/cryptocurrency/bitcoin/what-is-bitcoin

This article seems to have spoken about a lot things along with bitcoin like inflation and demonetization. It has also talked about the decentralized ledger system and other stuffs which is "good to know". I have just glanced through the article and didn't find anything objectionable.

Is there anything particular you want to know?

Thanks, well, except for the first part where he explains what money is (which by the way was a concept that I didn't consider, once I was shown that way I was able to realize my blindness towards the whole topic) and compares it to Bitcoin is nothing I need help to confirm whether is true or not.
It is in the second part, where he talks about the blocks and how everything works, that I wanted to confirm is correct... this is the only one time where I finally find a content that I understand without shadow of a doubt and I don't have interest in digging into it more than the way it is presented to me... it looks too good to be true... and as they say, when it's too good to be true, it probably is... so I just wanted to check if it was all true

[Lucius]

It is in the second part, where he talks about the blocks and how everything works, that I wanted to confirm is correct... this is the only one time where I finally find a content that I understand without shadow of a doubt and I don't have interest in digging into it more than the way it is presented to me... it looks too good to be true... and as they say, when it's too good to be true, it probably is... so I just wanted to check if it was all true

When you look at that blockchain concept and how it works, it actually seems pretty simple, at least at first glance. What is described on the link you posted is actually very simple explained to beginners, but I understand your skepticism about the whole thing because that's how some people reacted when I tried to explain the same thing to them.

I think a good deal of this skepticism stems from the fact that people are used to not thinking too much about how the monetary system works, and it's very hard to convince them that there is something better than what they have known all their lives. There is nothing fake in how BTC works, everything is actually completely public and open source, to the point that some people made copies of BTC (forks), added some minor changes and declared it as new BTC.

[FranzEsco]

It is in the second part, where he talks about the blocks and how everything works, that I wanted to confirm is correct... this is the only one time where I finally find a content that I understand without shadow of a doubt and I don't have interest in digging into it more than the way it is presented to me... it looks too good to be true... and as they say, when it's too good to be true, it probably is... so I just wanted to check if it was all true

When you look at that blockchain concept and how it works, it actually seems pretty simple, at least at first glance. What is described on the link you posted is actually very simple explained to beginners, but I understand your skepticism about the whole thing because that's how some people reacted when I tried to explain the same thing to them.

I think a good deal of this skepticism stems from the fact that people are used to not thinking too much about how the monetary system works, and it's very hard to convince them that there is something better than what they have known all their lives. There is nothing fake in how BTC works, everything is actually completely public and open source, to the point that some people made copies of BTC (forks), added some minor changes and declared it as new BTC.

Thanks
I am skeptical not because of the simple explanaation, but because for the first time I understood it 100% and for the first time I see such a clear explanation of Bitcoin without explaining cryptographic things, hash and other techno-babble words in a context that sometimes seems used because the same author had no idea what he was talking about and tried to mask it with difficult terms.
I am glad I found this guy

[MicroGuy]

I am skeptical not because of the simple explanaation, but because for the first time I understood it 100% and for the first time I see such a clear explanation of Bitcoin without explaining cryptographic things, hash and other techno-babble words in a context that sometimes seems used because the same author had no idea what he was talking about and tried to mask it with difficult terms.
I am glad I found this guy

I think it's a pretty darn good article for a beginner. Not sure you're going to walk away though with a 100% understanding.

"Basic" understanding seems more accurate.

[FranzEsco]

I am skeptical not because of the simple explanaation, but because for the first time I understood it 100% and for the first time I see such a clear explanation of Bitcoin without explaining cryptographic things, hash and other techno-babble words in a context that sometimes seems used because the same author had no idea what he was talking about and tried to mask it with difficult terms.
I am glad I found this guy

I think it's a pretty darn good article for a beginner. Not sure you're going to walk away though with a 100% understanding.

"Basic" understanding seems more accurate.

Thanks, yes, I think for me this is all I wanted to know
I am not a programmer hahaha

[OgNasty]

Bitcoin is a peer-to-peer electronic cash system.

According to who? That’s actually a pretty controversial statement these days.

I would describe Bitcoin as the currency unit in a immutable decentralized ledger.  

[Casdinyard]

Bitcoin is a peer-to-peer electronic cash system.

According to who? That’s actually a pretty controversial statement these days.

As far as I know the creator of bitcoin, Satoshi Nakamoto, proposed the bitcoin in 2008 as an electronic payment system based on mathematical proof. Peer-to-peer  transaction without intermediaries, decentralized. Answering the question who, it is Satoshi Nakamoto that brought the idea of bitcoin being a peer-to-peer electronic cash system.

I would describe Bitcoin as the currency unit in a immutable decentralized ledger.  

Yes it is, bitcoin being transferred electronically makes it secured and unchangeable.

[o_e_l_e_o]

Answering the question who, it is Satoshi Nakamoto that brought the idea of bitcoin being a peer-to-peer electronic cash system.

You're right, but there is exactly zero chance OgNasty isn't aware of that and hasn't read the whitepaper many times. The point he was making is who today defines bitcoin as a peer-to-peer electronic cash system.

I would describe Bitcoin as the currency unit in a immutable decentralized ledger.

I wouldn't disagree with that, but I don't think such a definition is mutually exclusive with the definition of bitcoin being a peer-to-peer electronic cash system.

[Sanugarid]

Answering the question who, it is Satoshi Nakamoto that brought the idea of bitcoin being a peer-to-peer electronic cash system.

You're right, but there is exactly zero chance OgNasty isn't aware of that and hasn't read the whitepaper many times. The point he was making is who today defines bitcoin as a peer-to-peer electronic cash system.

I barely know OgNasty but from what I see through his profile I can assume that he is one of the pioneers of the forum. You are right, OgNasty already know it and I do get his point that no one is using bitcoin as a currency or means of trading, most of us here use it as a form of investment. Satoshi knew this day would come but he can't control it since he made it decentralized.

I would describe Bitcoin as the currency unit in a immutable decentralized ledger.

I wouldn't disagree with that, but I don't think such a definition is mutually exclusive with the definition of bitcoin being a peer-to-peer electronic cash system.

Bitcoin is the future of currency from the fact that it is immutable and decentralized, this is what people are going to choose from over fiat coz they will realize how F' up is the financial system we got.