27 starter things you can know about bitcoin

[BIT-BENDER]

  With new members flocking in. Let me say you made a wise decisions I don't care what brought you or how this was taught to you, if correctly can be a good foundation to grow on, if wrong -all the same you can know what is right-
Bitcoin is interesting, existing and still can hurt.
  Here are things about bitcoin you can add to what you know already
Edited

+, bitcoin is a digital money,currency or fund
+ bitcoin functions, runs on blockchain technology
+ bitcoin can be transferred from one person to the other through their bitcoin wallet and once the person receives it, it can't be called back.
+ new bitcoin are generated by miners
+ the full total amount of bitcoin is 21million
+ yes bitcoin can be converted to the value of money, through exchange or between people.
+you can buy less than one bitcoin -you can buy bitcoin for the value of money you have- bitcoin can be broken down to microbitcoin or satoshi -very low amount-
+bitcoin can be used to purchase/buy things in places where its accepted - a funny event is when was used to buy pizza-
+bitcoin is decentralized
+ the highest level bitcoin has gotten is 20k in 2017
+, transfer of bitcoin from one wallet to the other can be watched
+ there are small mining fee for confirmation of transfer
+every four years the supply of bitcoin to miners is cut by half this is called halving.
+ bitcoin does not promise/ascertain speedy wealth.
+ if you can not account for your bitcoin wallet password or private keys and you can not enter your wallet, the bitcoin in there can not be gotten. - always be careful with them-
+bitcoin is not in physical form -paper, coin-
+ all transaction of bitcoin
 has a transaction ID.
+your personal/private identity Is guarded using bitcoin -but this can be compromised by other thing one do in connection with bitcoin-
+bitcoin is under ban in some country
+ satoshi nakamoto is the originator of bitcoin -there is no officially known true identity of this person-
+ bitcoin is not efficaciously traded on stock market -cryptocurrency exchanges are a better place-
+bitcoin transfer transaction is not  instantaneous
+ those holding very lofty amount of bitcoin are called WHALES
+bitcoin is not pinned/clipped to any currency in the world -bitcoin is not a stable coin-
 + bitcoin price is not invisible to or is subjected to rise and drop -I earlier said the highest price of bitcoin was $20k-
+bitcoin transaction has nil- less paperworks like forms, receipt than bank transaction

I appreciate the corrections

[1713981727]

1713981727

[1713981727]

1713981727

[1713981727]

1713981727

[skarais]

Good thread for beginners to know, mate. But I think we still need to tell beginners some other things about bitcoin and that hasnt been stated in the OP.
1. Bitcoin is a safe asset but if used properly.
2. The price of bitcoin is determined by the buyer and seller.
3. Not your private key, not your bitcoin.
4. Nobody knows about the future of bitcoin.
5. Maintaining security is a major problem for bitcoin users.
6. Scalability is a major problem of bitcoin
7. e.t.c

[LeGaulois]

bitcoin is saved/stored in a bitcoin wallet

False.
Bitcoins are stored on the Blockchain in the form of transaction outputs. A wallet is a 'tool' that just lets you watch and interact with it using a cryptographic key associated, and you sign a TX with the key

bitcoin was the first crytocurrency, it has the highest worth of all crytocurrencies

False,
Bitcoin isn't the first digital currency, cypherpunks started to think about digital currencies 20 years ago. I remember about 3-5 currencies born before Bitcoin

[bob123]

+ bitcoin functions, runs on blockchain technology

The bitcoin software runs on computers.
The bitcoin protocol is spoken between nodes.
There are no bitcoin functions. And even if they were, they wouldn't be running on blockchain technology.

Think of the blockchain as a database. It is being used as a ledger.

+ bitcoin is saved/stored in a bitcoin wallet.

They are not.
Bitcoins (or rather the unspent transaction outputs) are assigned to public keys on the blockchain.
A wallet is storing private keys.

A better term for wallet would actually be keychain, since it only stores the keys, not the "actual bitcoins".

+bitcoin transfer transaction is not  instantaneous -transaction blocks will be completely confirmed by miners- 

Blocks are created by miner and verified by nodes.

[nakamura12]

It is a good thread for newbies but there are some in your list that are not right and they have quoted it to let you know and to edit it soon. Newbies will know that bitcoins are stored kn blockchain technology as what LeGaulois which is the correct one instead of the wallet. I'm sure you know that wallets are only used to interact, check balances and more. There are more things that newbies should learn like What is blockchain, Open source vs closed source wallets, how blockchain works and more.

[Asuspawer09]

~

Great List you got here. It could be useful for newbies or brand new members that don't have knowledge about bitcoin. Nice!

bitcoin was the first crytocurrency, it has the highest worth of all crytocurrencies

False,
Bitcoin isn't the first digital currency, cypherpunks started to think about digital currencies 20 years ago. I remember about 3-5 currencies born before Bitcoin

Doesn't know about this one  Thanks for the lecture I learn something from you.

I do I bit of googling and it turns out that in 1989 David Chaum founded a electronic money called Digicash .

[mirtotanota]

thanks for sharing this useful thread, i think all people that want to join crypto world should know all these  things

[ShowOff]

+, bitcoin is a digital money,currency or fund

The decentralized

+ bitcoin can be transferred from one person to the other through their bitcoin wallet

Only if you are connected to the internet

+, transfer of bitcoin from one wallet to the other can be watched

Unconfirmed transactions are not safe yet and all transaction history is stored permanently and is visible to everyone.

+ there are small mining fee for confirmation of transfer

The fee is charged to the sender and is taken from the total balance.

+every four years the supply of bitcoin to miners is cut by half this is called halving.

Or when it reaches 210,000 block.

+ bitcoin does not promise/ascertain speedy wealth.

and also not as a safe place to save money because the price is volatile.

+your personal/private identity Is guarded using bitcoin -but this can be compromised by other thing one do in connection with bitcoin-

Bitcoin is not anonymous because all transaction data is stored permanently on the network and the users identity can be found if an investigation is carried out on the user by working with crypto-fiat exchanges. "The realm of government".


By the way, you have gathered some information about bitcoin and that is good. I only complete a few of your points based on my knowledge.