What I understand about bitcoin

[meant2be]

The links on the reply of my previous post has been so helpful to me, now I know more about Bitcoin, the rules guiding the forum and how it works. The only thing I knew about Bitcoin was how to purchase bitcoins at a Bitcoin exchange, sending and receiving of Bitcoins. But now I’ve read through all the links you shared and my knowledge has increased, I know one can also  Earn bitcoins through  mining. To my understanding, Bitcoin is still in the process of maturing and everyday we get to know more about how it works because nobody can really give an accurate analysis of what the outcome might be in the next minute or next day. There is no guarantee that Bitcoin will continue to grow or continue to dip even though it has developed at a very fast rate so far. There are various ways to make money with Bitcoin such as mining, speculation or running new businesses. All of these methods  involves risk taking so It is up to each individual to make a proper evaluation of the costs and the risks involved in any such project.

[syedakhlaque]

Bitcoin is a digital currency that provides you with different kinds of earning including trading, stalking, mining, etc. As concern to the guaranty & surety of some business or trade, it does not happen anyway. In business, there are ups and downs and The man who comes into a field to earn . He has to take risks. So it is said," No risk no gain:.You can see that millions of people, companies, banks institutes, and businessmen are e involved in the business of digital currency and it is enough that BTC has more than a decade period of life.

[lumierre]

Bitcoin is digital money or digital asset. It's up to you and your location how you will use it. Personally I invest in Bitcoin and other mainstream currencies, so they give me passive income. In some countries Bitcoin is accepted as a means of payment so they take it as the means of payment as well. That's wonderful that you got acquainted with Bitcoin, keep it up!

[ChiBitCTy]

Im just curious, are you interested in bitcoin or are you interested in just trying to make money with bitcoin?  If you're truly interested in bitcoin then I would recommend continuing to learn about it before you really begin trying to make a bunch of money from it.  I would suggest watching Andreas Antonopoulos videos, the guy is about as good as it gets when it comes to bitcoin education.

[sheenshane]

I appreciated someone when there are newbies who are interested in Bitcoin or in crypto in general but there's one thing that newbies should be avoided first, never think about the earning, instead, just learn first how it will work or the basic information about Bitcoin and other cryptocurrencies.  After that, you may be able to process trading and investing.  There's a lot of processes and should also invest your precious time as well.

Here's what I recommend to you that you should read and spend your time here.  It's one for all and easy to navigate informative topics from this thread.
Beginners & Help Encyclopedia [UPD: +Categories] by Ratimov.

Enjoy reading, it's better to spend your time reading than posting.

[sunsilk]

Good start and keep on learning.

Bitcoin is bound to greatness and we're not yet seeing the best that it can. What you mean by earning through speculation? Maybe that means about trading since it's also part of trading when someone speculates of what the market will be looking like based on his analysis and opinion.

[bosede1]

For me mainly at the beginning of this year my plan with Bitcoin was to buy and keep which I fulfill and did not regret taking the step. For me I see Bitcoin as a great investment means which can yield 50% profit in less than a year or thereabout.

[fullhdpixel]

To my understanding, Bitcoin is still in the process of maturing and everyday we get to know more about how it works because nobody can really give an accurate analysis of what the outcome might be in the next minute or next day. There is no guarantee that Bitcoin will continue to grow or continue to dip even though it has developed at a very fast rate so far. There are various ways to make money with Bitcoin such as mining, speculation or running new businesses. All of these methods  involves risk taking so It is up to each individual to make a proper evaluation of the costs and the risks involved in any such project.

Yeah, the mistake that some people make is neglecting the risks that are involved. And some of them are forgetting that it is mostly speculation and that they won’t be able to predict the next movement all the time. Now that you are fully aware of the risk involved, it would make you to thread carefully, you wouldn’t be the type of investors that takes uncalculated risks in the market, rather you will always plan yourself ahead.

As an investor you’re always not going to regret taking risks that are calculated, because if anything should happen and there happens to be a loss, it wouldn’t affect you that much since you were already prepared for whatever is going to be the case.

[Questat]

Bitcoin is a digital currency that provides you with different kinds of earning including trading, stalking, mining, etc. As concern to the guaranty & surety of some business or trade, it does not happen anyway. In business, there are ups and downs and The man who comes into a field to earn . He has to take risks. So it is said," No risk no gain:.You can see that millions of people, companies, banks institutes, and businessmen are e involved in the business of digital currency and it is enough that BTC has more than a decade period of life.

In the first place, those who come and get involved in crypto must have known the risk. All the ways in earning a profit from here correspond to risk and if we got mistakes, losses are usually its return.
On the other hand, we can't underestimate the market. But if you will invest in Bitcoin and hold this for many years, I'm sure you will get rewarded. We can really see that this project had placed an important role in the market that it find a reason why it has a sustainable market gain than seeing it crashed.

[cryptomaniac_xxx]

Bitcoin is a digital currency that provides you with different kinds of earning including trading, stalking, mining, etc. As concern to the guaranty & surety of some business or trade, it does not happen anyway. In business, there are ups and downs and The man who comes into a field to earn . He has to take risks. So it is said," No risk no gain:.You can see that millions of people, companies, banks institutes, and businessmen are e involved in the business of digital currency and it is enough that BTC has more than a decade period of life.

In the first place, those who come and get involved in crypto must have known the risk. All the ways in earning a profit from here correspond to risk and if we got mistakes, losses are usually its return.
On the other hand, we can't underestimate the market. But if you will invest in Bitcoin and hold this for many years, I'm sure you will get rewarded. We can really see that this project had placed an important role in the market that it find a reason why it has a sustainable market gain than seeing it crashed.

Yeah, there is a learning curved here in crypto, first you need to understand how wallet works, not just investing or buying in the beginning. You really have to understand how to protect your assets and how not to get hack and not to lose your bitcoins. And then there is that privacy and the psuedo-anonymity part as well. So before joining bitcoin market, you really need to learn a lot before you can talk of making profit or how you are going to make money thru trading or investing or holding.

[bitzizzix]

We are all here together learning to keep getting better and better at it, and it helps you learn everything well and in detail to really understand it well.
a good start that you should learn is to learn how bitcoin and decentralized networks work and the risks that you will face and it is also important to know the development of bitcoin from the beginning to the present, because it will help you to consider and can motivate you to continue researching bitcoin to its roots .

and by doing that you will make a choice which I think you will have the ambition to get involved and make money from bitcoin.

[Accardo]

What you know about bitcoin is quite basic and good as well. But understanding bitcoin requires alot of hardwork and time. Because, we can not stop learning about this technology. Also learn to delve into the blockchain and how it operates to make bitcoin transactions possible. I know little about bitcoin especially when the question pops up on my screen.

Literally, things i know about bitcoin may not come to my head at any time, I just go through the forum looking for threads that talks about both things I know about bitcoin and those I don't understand. however, opening tabs to check them out on search engines helps me so much. Like you said; mining is a great means of earning on bitcoin, but it's not that cheap to mine bitcoin. All you need to do is go to the mining section and learn about how mining works both the cloud mining as well.

Keep exploring this forum like anyother person we keep learning everyday.

[bL4nkcode]

Yeah, there is a learning curved here in crypto, first you need to understand how wallet works, not just investing or buying in the beginning. You really have to understand how to protect your assets and how not to get hack and not to lose your bitcoins.

It should be, if don't, then it would be a nightmare later on.

Not only just how a wallet works, but it should be, how different wallet works (custodial and non-custodial).
And having a wallet is not just keeping it secure, keping your device safe/secured will keep your wallet/backups secured as well.

[Jawhead999]

Bitcoin is a digital currency that provides you with different kinds of earning including trading, stalking, mining, etc.

Bitcoin can be used as staking, those centralized services that offer you to stake Bitcoin in order to earn 4-6% APY is their services not the use of Bitcoin. Some centralized coins do offer staking, this because they can create their coins out of thin air.

Better to learn in depth about Bitcoin and how it's work, not only focus about to earn money.

[meant2be]

When a user loses his wallet details, I think it has the effect of removing money out of circulation. Hence lost bitcoins still remain in the block chain just like any other bitcoins. However, the lost bitcoins remain dormant forever because there is no way for anybody to find the private key(s) that would allow them to have access to the bitcoins and be spent again. I’m sure because of the law of supply and demand, when fewer bitcoins are available, the ones that are left will be in higher demand and increase in value to compensate. So I still wonder what then happens to those lost bitcoins, because I think since no one can have access to the private keys what about the developers of the blockchain app? Can the developers of block chain gain access to the lost coins and withdraw them from the lost account?

[dansus021]

bitcoin and what u say is correct to me, and if you want to get know about bitcoin there bunch article out there talk about bitcoin. but crypto is keep evolving like the altcoin most altcoin/token use different system than bitcoin using differnt technology and use cases that maybe we must learn new things everyday

[glendall]

I salute you, as a beginner you are very active in asking and from your question you already understand some of what bitcoin is and what it can be used for and where to exchange bitcoin into fiat,
but basically all of us in this forum learn and exchange information what bitcoin is and all about bitcoin,
all have risks if you want to invest or as a bitcoin trader, but if you already know how to get a profit you will definitely regret "why I  didn't you know and understand how bitcoin worked from the very beginning bitcoin was introduced "

[Sled]

Bitcoin is a digital currency that provides you with different kinds of earning including trading, stalking, mining, etc.

Bitcoin can be used as staking, those centralized services that offer you to stake Bitcoin in order to earn 4-6% APY is their services not the use of Bitcoin. Some centralized coins do offer staking, this because they can create their coins out of thin air.

Better to learn in depth about Bitcoin and how it's work, not only focus about to earn money.

It is free will, can someone don't mind understanding the real purpose of Bitcoin as most of us think that we can generate money from this, even simply in staking. Yet, they are right, people come and enjoy the market making money from risking a few bucks out of their pocket. But if this has never been seen with their eyes, it certainly they don't care and bother themselves to invest in Bitcoin.

[Doell]

~snip~

yes ! more or less like that ,you can learn more in this forum to increase your knowledge ,well bitcoin which I personally think is a crypto currency that I can use for payments or purchases ! regarding the higher price is a bonus for user because it is also believed to be an asset for the future !

Can the developers of block chain gain access to the lost coins and withdraw them from the lost account?

do you mean this blockchain AFAIK they can't recover the user's wallet or get access to withdraw if user lose the private key ! without a key to open it then anyone can't access it ! my answer is NOT

[Gasty4]

Permission to say bitcoin is the future.
Ain't Centralized like that of fiats, has to do with a peer to peer network.

Bitcoin gives a chance for the poor to become wealthy and a chance for the rich to get wealthier.
The more it gets accepted by people, the more it's votality increases.