Basics for Bitcoin beginners

[Masplanc]

Bitcoin could be the future of money, according to its backers. On the other hand, doubters see Bitcoin as evil. Wrong, sound, or downright misguided, everyone is saying something about this virtual currency these days. Some people don’t understand what this virtual currency is about, but they are interested in it.
Essentially, most people want to understand how this popular digital currency works and ways to benefit from it. Almost every aspect of this cryptocurrency is controversial or incredibly confusing. People also have many misconceptions about Bitcoin. Unfortunately, these myths have found their way into the mainstream media.

Nevertheless, some people have made a lot of money purchasing and selling Bitcoin via platforms like Bitcoin Superstar. Also called cryptocurrency exchanges, these websites allow people to purchase Bitcoin using fiat money or sell their virtual currency to get cash. Perhaps, you can check this platform if interested in trading Bitcoin. But before that, here are vital basics to guide your Bitcoin trading journey.

Understand Bitcoin
Bitcoin is a digital and decentralized currency. That means you won’t have physical Bitcoin notes or coins. People exchange Bitcoin directly over the internet without involving intermediaries. Unlike fiat money, Bitcoin doesn’t have a central government or bank controlling or backing it. Thus, the Federal Reserve doesn’t regulate or control Bitcoin.

Essentially, Bitcoins are computer files or codes. They are mathematical algorithms representing monetary units. Currently, the world has about 11 million Bitcoins. The total number of Bitcoins the world can have is 21 million units. Bitcoin transactions occur internationally and are irreversible. Only the recipient can refund Bitcoins.

Untrace ability and Anonymity of Bitcoin
Some people believe that Bitcoin is untraceable and anonymous. Well, you don’t have to disclose identifying information when using this virtual currency. Thus, nobody will ask for your physical address, social security number, or bank account when using Bitcoin. However, each Bitcoin transaction leaves a traceable trail in a public ledger. This ledger, also called the blockchain, keeps a record that prevents users from making fake coins or spending Bitcoins twice.

What’s more, regulated crypto exchanges collect identifying information of their users. A subpoena can help another person get this information.

Using Bitcoin
Using Bitcoin doesn’t require you to master its technical aspects. However, using this virtual currency requires you to have a digital or Bitcoin wallet on a smartphone or computer. A digital wallet provides storage for Bitcoins. It also enables you to receive and send Bitcoins. You can also use a web Bitcoin wallet.

If you install a desktop wallet, backup your device regularly. Using a mobile wallet enables you to pay for services and items at physical stores by scanning their QR codes. You can also use a web wallet to spend Bitcoins from your mobile device or browser.

Bitcoin Price
Despite being new, Bitcoin has grown at a breakneck pace over the last decade. Its market is currently worth around $7 billion. People are trading Bitcoins worth millions of dollars every day. Bitcoin price keeps fluctuating, making this virtual currency a volatile digital asset. Nevertheless, monitor Bitcoin price regularly to determine the best time to purchase or sell it for a profit.

Many companies, businesses, and individuals across the world now accept Bitcoin as a payment method. Several e-commerce businesses have listed Bitcoin as one of their payment methods. That means this virtual currency is going mainstream. However, learn and understand how Bitcoin works before accepting, trading, or using it to avoid costly mistakes.
https://cyprus-mail.com/2021/07/04/five-basics-for-bitcoin-beginners/

[Upgrade00]

If you're going to copy and paste an article, you should put in the effort to find a recent one with accurate data;
Bitcoin's circulating supply is above $18 million, not 11 and the market cap is over $607 billion not 7.

Bitcoin transactions occur internationally and are irreversible. Only the recipient can refund Bitcoins.

Transactions are only irreversible after they are confirmed and for larger amounts one should wait for e-6 confirmations before concluding the transaction can no longer be reversed.

[Bitcoin_Arena]

I can't believe someone can go this far to just copy an article online minus reading through and internalizing it all just for merit

Nevertheless, some people have made a lot of money purchasing and selling Bitcoin via platforms like Bitcoin Superstar.

The article was created purposefully to promote or shill Bitcoin superstar (bitcointalkshow.com) Apparently Bitcoin Superstar is a bitcoin exchange with automated trading bots and AI where you just send your Bitcoins, and they will trade them for you for profits 

[1miau]

And please, always, put the reference link first, if you have copied an entire article. Or at least use

Code:

[quote][/quote]

for your copied text to make it more clear.

Personally, I don't like to start reading a text, believing it's a unique text written by the OP, just to scroll down later and find out it's a copied one.

If you can't sum it up in your own words, please add a few lines first indicating it's copied from source xy, including a link.

And some comments why you have presented this article are also important. Just copy pasting an article and spamming a source link below is not really worthy a discussion.

[SquirrelJulietGarden]

Let's get started with basics but many sources to read and watch. I believe beginners will be overwhelmed with basics.

Bitcoin Information (lopp.net)
Resources (bitcoin.org)
Bitcoin for beginners: Learn the basics (Andreas M. Antonopoulos, the author of Mastering Bitcoin)

[DdmrDdmr]

<…>

Copying and pasting an article, and adding a source link, complies with avoiding being accused of plagiarism by forum standards, but makes the post, in the vast majority of the cases, a low value post. Without baring any comments on the copied text, you present no added value (which is reportable).

One should seek to summarize, contrast, forward a versed opinion, criticize, or question the content, but a simple copy/paste brings nothing to the table (lest it be an urgent warning for the benefit of the community or such). I often add reference links to my posts, because I perform one or more of the aspects I mentioned here. I may add, every now and then, verbatim extracts from the source text to highlight and comment certain elements, which need to be read as they were written, but these I enclose in BBS quotes in order to make it more visible.

It’s a question of investing more time into the rationale behind what one posts.