My Knowledge On Bitcoin

[Fiasem20]

Bitcoin is a cryptocurrency I've been hearing but haven't gotten a full information about it.The only information I was having on bitcoin was the bull run market,when people bought bitcoin,stored it in their digit wallet,and when the price of bitcoin was high(Bull run market) in 2021,those people that were having bitcoin in their wallet sold it and some invested,some bought cars,houses etc.So that was the only information I was having on bitcoin but when I joined this forum I've acquired some information on bitcoin,that bitcoin is not a get quick rich investment.And-
1.Bitcoin was the first cryptocurrency.
2.Bitcoin was launched in 2009 by an anonymous inventor called Satoshi Nakamoto.
3.It's a decentralized digital currency that uses peer to peer(P2P)-It allows users to trade,sell,buy bitcoin in any part of the world without the involvement of the government or bank.
4.Bitcoin is not accepted in most countries.
5.Bitcoin is not controlled by the government.
6.Bitcoin cannot be hacked.
         So with this knowledge I have on bitcoin as a beginner,I'm still open to know more and take corrections.

[_act_]

4.Bitcoin is not accepted in most countries.

There are 195 countries in the world, but bitcoin is not accepted in less than 15 countries in the world. That means most countries do not place ban on bitcoin but just few countries. The more years goes by, the more countries accept bitcoin. That means it is very possible that more countries among the less than 15 countries will still later accept bitcoin and make it not illegal again in their country.

In countries like China, bitcoin is not accepted as a currency, but it is accepted as digital property. In the countries that do make bitcoin not legal, some of their citizens are still trading it in one way or the other.

Having bitcoin is not a crime.

[Sandra_hakeem]

Bitcoin is a cryptocurrency I've been hearing but haven't gotten a full information about it.The only information I was having on bitcoin was the bull run market,when people bought bitcoin,stored it in their digit wallet,and when the price of bitcoin was high(Bull run market) in 2021,those people that were having bitcoin in their wallet sold it

Did it ever occur to you that there are certain processes to which these coins are being bought, HODLed and sold out during the bull market that would possibly involve some technical and graphical analysis?if yes, what usually rings in your head at that point?..(assuming you're a newbie that has got the virtual knowledge but hasn't tried it out just yet?)  ...tchhh!! Dude, this whole thing you wrote has become a general knowledge already and several informative threads are out there to Coach you...

5.Bitcoin is not controlled by the government.

most definitely! But the governs are trying - in different sovereignty levels -- like Placing sanctions, displacements, KYCs -- all in the pretence to break the PURPOSE OF BITCOIN which is decentralization. Infact, we've got different trolls too - swaying their asses around and calling themselves FAKETOSHI..
Be informed!

Sandra 🧑‍🦰

[nakamura12]

Well, if you make a research then bitcoin is not the first digital currency ever created but it was the first digital currency that reached popularity unlike the previous ones which didn't get it's popularity. If you think about it, the first cryptocurrency that is successful is indeed Bitcoin and that's why when you search and the search result will be that the first cryptocurrency is Bitcoin. As I have explained, Bitcoin is the first digital currency that gained popularity among the people and that's why it is the first cryptocurrency ever created (among the cryptocurrencies that is used and legit). You can learn more about it in here https://www.investopedia.com/tech/were-there-cryptocurrencies-bitcoin/

[Hyphen(-)]

Bitcoin is a cryptocurrency I've been hearing but haven't gotten a full information about it.The only information I was having on bitcoin was the bull run market,when people bought bitcoin,stored it in their digit wallet,and when the price of bitcoin was high(Bull run market) in 2021,those people that were having bitcoin in their wallet sold it and some invested,some bought cars,houses etc.So that was the only information I was having on bitcoin but when I joined this forum I've acquired some information on bitcoin,that bitcoin is not a get quick rich investment.And-
1.Bitcoin was the first cryptocurrency.
2.Bitcoin was launched in 2009 by an anonymous inventor called Satoshi Nakamoto.
3.It's a decentralized digital currency that uses peer to peer(P2P)-It allows users to trade,sell,buy bitcoin in any part of the world without the involvement of the government or bank.
4.Bitcoin is not accepted in most countries.
5.Bitcoin is not controlled by the government.
6.Bitcoin cannot be hacked.
         So with this knowledge I have on bitcoin as a beginner,I'm still open to know more and take corrections.

You only have some information about Bitcoin and not some knowledge about it. People who explain and introduce you to Bitcoin are just people who buy when it is low and sell when the price goes up. They did not give you any good information about Bitcoin or why it was created.

Bitcoin was created to give us financial freedom; it serves as an alternative to fiat currency, and it is decentralized, meaning it cannot be controlled by any third party or government. Bitcoin is not just to buy and sell to make a profit; you can invest in it and keep it in your wallet for years.

If you wants to know more about Bitcoin, stick to this forum and ask questions.
You can also visit this book to learn more.

[FinePoine0]

You can say a miracle asset, because it will be invested only in Digit wallet, since Bitcoin is difficult to hack, so you should take different decisions quickly in Bitcoin, because in future Bitcoin will reach more advanced peak. Bitcoin is illegal in almost every country in the world but if you take a good look at the news almost every country people are connected to Bitcoin. Not only is it literally written in a contract on paper, but in reality people from all over the world are related to Bitcoin. That is why we can say Bitcoin is a digital currency.

[PrivacyG]

4.Bitcoin is not accepted in most countries.

Not accepted?  You mean as legal tender?  Bitcoin is accepted in most countries around the world.  Only few decided to crack down on it and imposed a ban.

5.Bitcoin is not controlled by the government.

It can not be controlled as in the Government can not impose a reorganization of Blocks, an Address to be emptied out into the Address of Authorities et cetera.  They can however seize paper containing your Seed or break in to your Computer to access your Coins of course.

6.Bitcoin cannot be hacked.

But you can get a virus and have your Coins stolen.  The Bitcoin Blockchain can not be hacked, but you and your Wallet can be.  This means you still need to give Security a lot of attention to ensure you will not be a victim of a sad story.

Good luck.

[Bushdark]

You can say a miracle asset, because it will be invested only in Digit wallet, since Bitcoin is difficult to hack, so you should take different decisions quickly in Bitcoin, because in future Bitcoin will reach more advanced peak. Bitcoin is illegal in almost every country in the world but if you take a good look at the news almost every country people are connected to Bitcoin. Not only is it literally written in a contract on paper, but in reality people from all over the world are related to Bitcoin. That is why we can say Bitcoin is a digital currency.

I think what you are trying to write is Blockchain is difficult to hack Bitcoin. If we don't take care of our Bitcoin portfolio, we might lost it to the hands of scammers or hackers because these people are coming up with different strategies on how to make money from a source where they can have access to our wallets and transfer every funds in there. Bitcoin is the Bitcoin cryptocurrency in the market for now and it does not have a match.

[Dr.Bitcoin_Strange]

When I started on this forum, there were two Bitcoin educational materials that a user referred to me, which are: Jameson Lopp Bitcoin Resources and  Bitcoin for Beginners by Andreas Antonopoulos

I was able to learn more things from there, and I have gained better knowledge about Bitcoin than I did from the start. Learning does not end, and you cannot know everything about Bitcoin in just one day. You will surely read many educational threads on this forum and learn from the experiences and ideas of others. When it comes to investing in Bitcoin, you also have to keep in mind the number one rule, which is "Not your key, not your coin." It simply means that you should not store your coin on any centralized platform like an exchange; store it in your own custodial wallet and keep your secrest phrase secure. Another thing you should not do is invest in Bitcoin, the amount of money that you can hold for a long time. The price of Bitcoin is very dynamic; you cannot predict the time and minute when it will hit your desired price, so invest just the amount you can hold for a long time, then sit back and wait until the bull market comes and your desired selling price is met.

[sokani]

The journey of a thousand mile begins with a step. Creating an account was the first step, having the passion to learn and improve yourself is also very important. You're in the right forum and your learning begins now.

1.Bitcoin was the first cryptocurrency.

Bitcoin is not the first cryptocurrency to be created. The first cryptocurrency was ecash and it was created by David Chaum in 1990.

6.Bitcoin cannot be hacked.

The Bitcoin as a blockchain cannot be hacked but the Bitcoin stored on an exchange or wallet can be stolen.

[Darker45]

Perhaps it needs emphasizing as well that Bitcoin and what you've got in the likes of Binance, Coinbase, Crypto.com, and other custodial wallets aren't equal. They aren't the same. What you've got in your wallets or accounts in those platforms are mere numbers. They aren't real Bitcoin. And while you are right that Bitcoin may not involve the government or the bank, that Bitcoin is not controlled by the government, and that Bitcoin can't be hacked, these facts don't apply when you are using such platforms.

[dzungmobile]

• Learn me a Bitcoin for Beginners. You can dive in technical advanced knowledge too.
• Mastering Bitcoin book
• Mastering the Lightning Network book
• The bullish case for Bitcoin.
• End the fud against Bitcoin

[Pandu Geddon]

5.Bitcoin is not controlled by the government.

Yes, Bitcoin cannot be controlled by the government or anyone else. but the government tries to keep information or even taxes from those who own Bitcoin. They get it from centralized exchanges in countries where Bitcoin ownership is legal. Centralized exchanges require all their users to carry out KYC verification. and the government continues to regulate every use of exchanges and ownership of crypto assets under the pretext of protecting their citizens.

6.Bitcoin cannot be hacked.

The Bitcoins may not be hackable. However, the device you use and the wrong way to use your wallet can cause your Bitcoins to change hands without you knowing.
Avoid connecting your wallet to random websites. also, avoid looking at links you don't recognize. and if you keep or use a wallet that is connected to a device that you use every day, it's better to start separating it.

[TamariskDigitalAssetRecov]

6.Bitcoin cannot be hacked.

The network is secure, but individual addresses can be hacked when proper precautions are not taken (like storing keys electronically or choosing wallets based on non-random variables) and centralized exchanges that "store your bitcoin" for you can be hacked. Not taking these distinctions seriously and not being careful enough can totally destroy your crypto experience.
Also - avoid the legacy wallet format (starting with 1) - there is a slightly higher than 0 probability of being able to hack a wallet after it spends BTC.

Also:
7. BTC value is extremely volatile when compared against other currencies.
8. Bitcoin transaction fees are volatile and can get quite pricey.

[mamesso]

• Uses blockchain to record transactions, ensuring security and transparency.
• The price is highly volatile, creating both risks and opportunities for traders and investors.
• Can provide financial services to the unbanked population globally.
• Eliminates the need for intermediaries such as banks and payment processors in financial transactions.

Bitcoin global accessibility further reinforces how important Bitcoin is, its decentralized nature means anyone with an internet connection can participate in its network. This convenience can bridge the shipping process between countries without having to use intermediaries, as well as offering a means of financial inclusion for most people throughout the world.

[tabas]

Bitcoin is a legal tender in El Salvador and it became a legal tender as well in the Central African Republic but it has changed later on: CAR to drop crypto as legal tender.
You don't have to memorize all of those things but you can get familiarized with the majority of it. What matters now IMHO is on how you're going to protect yourself from bad actors that are targeting newbies like you and on how you'll be using and downloading Bitcoin wallets. So please be mindful to download only on official sources.

[Kelward]

Well, if you make a research then bitcoin is not the first digital currency ever created but it was the first digital currency that reached popularity unlike the previous ones which didn't get it's popularity. If you think about it, the first cryptocurrency that is successful is indeed Bitcoin and that's why when you search and the search result will be that the first cryptocurrency is Bitcoin. As I have explained, Bitcoin is the first digital currency that gained popularity among the people and that's why it is the first cryptocurrency ever created (among the cryptocurrencies that is used and legit). You can learn more about it in here https://www.investopedia.com/tech/were-there-cryptocurrencies-bitcoin/

You think that you've passed a phase in learning and you're called back to be tutored again, I'm learning from your post now that Bitcoin is not the first cryptocurrency, I go everywhere and tell newbies in the crypto space that Bitcoin was the first cryptocurrency to be created. So it's the first that popularized and made cryptocurrency to be adopted by many as an alternative to fiat in transactions and a valued asset for investment, but not the first crypto coin. Someone should do something about search engines that says Bitcoin is the first cryptocurrency, it is obviously a misleading theory.

[Dave1]

Bitcoin is a cryptocurrency I've been hearing but haven't gotten a full information about it.The only information I was having on bitcoin was the bull run market,when people bought bitcoin,stored it in their digit wallet,and when the price of bitcoin was high(Bull run market) in 2021,those people that were having bitcoin in their wallet sold it and some invested,some bought cars,houses etc.So that was the only information I was having on bitcoin but when I joined this forum I've acquired some information on bitcoin,that bitcoin is not a get quick rich investment.And-
1.Bitcoin was the first cryptocurrency.

Technically, it's not the first cryptocurrency, if you read the Whitepaper, it the footnote he mentioned where he get his inspiration. Like Wei Dai, "b-money", and Dr Adam Back  Hashcash.

So in essence he took a lot the the "cyberpunks" group and then put it all together and created the prime mover in crypto and that is Bitcoin.

And you are just about in the right time to join the market as we will have a bull run this year, because of the halving event.

[2Pizza410000BTC]

Bitcoin is a cryptocurrency I've been hearing but haven't gotten a full information about it.The only information I was having on bitcoin was the bull run market,when people bought bitcoin,stored it in their digit wallet,and when the price of bitcoin was high(Bull run market) in 2021,those people that were having bitcoin in their wallet sold it and some invested,some bought cars,houses etc.So that was the only information I was having on bitcoin but when I joined this forum I've acquired some information on bitcoin,that bitcoin is not a get quick rich investment.And-
1.Bitcoin was the first cryptocurrency.
2.Bitcoin was launched in 2009 by an anonymous inventor called Satoshi Nakamoto.
3.It's a decentralized digital currency that uses peer to peer(P2P)-It allows users to trade,sell,buy bitcoin in any part of the world without the involvement of the government or bank.
4.Bitcoin is not accepted in most countries.
5.Bitcoin is not controlled by the government.
6.Bitcoin cannot be hacked.
         So with this knowledge I have on bitcoin as a beginner,I'm still open to know more and take corrections.

All the things you have heard and know about Bitcoin are true. If you want to know more about Bitcoin then you must spend more time and know more. The more you are interested in knowing, the more you will know. As the saying goes, there is no end to knowledge and no age to learn. Finally, the last thing I want you to know is that bitcoins cannot be hacked, of course bitcoins can be hacked. If you use your wallet and bitcoins carelessly, you can get hacked anytime. Except if you use bitcoin wallet and bitcoins with security then you won't get hacked.

[Mate2237]

You are welcome buddy. If you are really here to learn then you will explore in Bitcoin for the next level. From your thread I noticed that you have small knowledge on Bitcoin and which means if you are reading from the materials that they have provided for your in this place then you will have more knowledge on Bitcoin very well. And as you know the meaning of bull run you should also know the meaning of bear run because these are two major words Bitcoiners use every time.

One of the things to do to learn more on Bitcoin is the seriousness of the person. If the person is not serious then all this things we are saying here is just for vain and nothing can come out from it. But if the op is serious then we will know in the future. We have seen many of them like that here in the forum.