Terms to learn about bitcoin for newbies :for better understanding

[George Edward]

I noticed that most newbies are finding it difficult to understanding some simple terms in the bitcoin furom so I insisted to come up with an ideal to make it easier for them incase they come across this words in the furom.  for most newbies I will require you take some time to study this link .I would have just given a short explanation but I think having a full knowledge is better for more understanding and perspective viewing.

1. Cryptocurrency
https://www.kaspersky.com/resource-center/definitions/what-is-cryptocurrency
2.Bitcoin
https://www.newscientist.com/definition/bitcoin/
3 .ATH
https://www.babypips.com/crypto/glossary/all-time-high-ath
4.Satoshi
https://www.investopedia.com/terms/s/satoshi.asp
5.Wallet
https://www.investopedia.com/terms/b/bitcoin-wallet.asp
6.Lightning Network 
https://www.investopedia.com/terms/l/lightning-network.asp
7.Blockchain
https://www.investopedia.com/terms/b/blockchain.asp
8.HODL
https://www.investopedia.com/terms/h/hodl.asp
9.Exchange
https://www.forbes.com/advisor/in/investing/cryptocurrency/what-is-a-crypto-exchange/
10.Bull Market
https://coinledger.io/learn/crypto-bull-market
11.Fiat Currency
https://www.investopedia.com/terms/f/fiatmoney.asp
12.FOMO
https://www.investopedia.com/deal-with-crypto-fomo-6455103
13.Wallet Backup
https://cryptosafetyfirst.com/wallet-backup/
14 Bear market
https://www.investopedia.com/terms/b/bearmarket.asp
15.Public Key
https://www.investopedia.com/terms/p/public-key.asp
16.Mining
https://www.investopedia.com/terms/b/bitcoin-mining.asp
17.Halving
https://www.investopedia.com/bitcoin-halving-4843769
18.Altcoin
https://www.investopedia.com/terms/a/altcoin.asp
19.FUD
https://coinmarketcap.com/academy/glossary/fud
20.Wallet Address
https://help.zengo.com/en/articles/6824194-what-is-a-wallet-address-and-how-do-i-find-it
21.Wallet Encryption
https://materialbitcoin.com/in/blog/crypto-wallet-encryption/?srsltid=AfmBOoqzQmBkD6G8tSkOEPyMMyHcOZRiV_XGAQjQAe9o_TBlBaUrGAKW
22.Peer-to-Peer (P2P)
https://www.bitpanda.com/academy/en/lessons/peer-to-peer-p2p/
23.Decentralization
https://www.peoplehum.com/glossary/decentralisation
24.Cryptography
https://www.fortinet.com/resources/cyberglossary/what-is-cryptography
25.Multisignature
https://www.investopedia.com/multi-signature-wallets-definition-5271193
26.Pump and Dump
https://www.investopedia.com/terms/p/pumpanddump.asp
27.Market Cap
https://www.bitpanda.com/academy/en/lessons/what-is-market-capitalisation-market-cap-and-why-does-it-matter/
28.Public Ledger
https://www.investopedia.com/tech/what-cryptocurrency-public-ledger/
29.ICO
https://www.investopedia.com/terms/i/initial-coin-offering-ico.asp
30.Private Key
https://www.investopedia.com/terms/p/private-key.asp
31.Paper Wallet
https://www.investopedia.com/terms/p/paper-wallet.asp#:~:text=A%20paper%20wallet%20is%20a,barcode%20created%20by%20an%20app.
32.Hash Rate
https://www.investopedia.com/hash-rate-6746261
33.P2PKH
https://bitcoinwiki.org/wiki/pay-to-pubkey-hash
34.Node
https://www.bitpanda.com/academy/en/lessons/what-is-a-bitcoin-node/
35.WIF
https://coinrabbit.io/blog/what-is-wif-coin-and-how-to-use-it-to-make-crypto-gains/
36.KYC
https://notabene.id/crypto-travel-rule-101/kyc-crypto
37.Ransomware
https://www.checkpoint.com/cyber-hub/ransomware/what-is-crypto-ransomware/

I will be glad to know if I missed any.  thanks for your time

[Cookdata]

I noticed that most newbies are finding it difficult to understanding some simple terms in the bitcoin furom so I insisted to come up with an ideal to make it easier for them incase they come across this words in the furom.  for most newbies I will require you take some time to study this link .I would have just given a short explanation but I think having a full knowledge is better for more understanding and perspective viewing.

This word newbie is really abused and I wonder who is really a newbie is in person. A newbie by rank doesn't mean the person is newbie, there are users registered years ago and don't have much activity but have more knowledge and contribution to legendary users. A legendary user can be a newbie to certain information, not really an account thing.

I will be glad to know if I missed any.  thanks for your time

There are countless of similar threads already, you might want to check:

From Forum:

https://bitcointalk.org/index.php?topic=5364986.0
https://bitcointalk.org/index.php?topic=5355070.0
https://bitcointalk.org/index.php?topic=3469416.0
https://bitcointalk.org/index.php?topic=126798.0
https://bitcointalk.org/index.php?topic=5420202.0
https://bitcointalk.org/index.php?topic=5450039.0


Outside the forum:

https://www.coingecko.com/en/glossary

[SatoPrincess]

It’s a good topic OP but I think it would have been better if you used the search engine to see if this has been discussed before. There are a lot of similar threads on the topic, most of them are well detailed. I advise newbies to learn how to use the forum search engine or simply use google search.

[348Judah]

I will also suggest this mega thread, Guides for beginners https://bitcointalk.org/index.php?topic=5275357.0 where you could also find lots of interesting threads collections on related topics from this, as a newbie, it is important that we go by some of the relevant informational threads and suggestions from experienced members, because they serves as guides to help newbies to get used to the crypto networks and have a quick grab on what is required.

[BlackBoss_]

It’s a good topic OP but I think it would have been better if you used the search engine to see if this has been discussed before. There are a lot of similar threads on the topic, most of them are well detailed. I advise newbies to learn how to use the forum search engine or simply use google search.

It is not a good topic in my opinion but let's the others assess it too.

I only would like to share some websites for educational resources which are helpful for learners who are either newbies or seniors.
https://learnmeabitcoin.com/
https://nakamotoinstitute.org/
https://www.lopp.net/bitcoin-information.html
https://www.lopp.net/bitcoin-information/bitcoin-explained.html
https://github.com/bitcoinbook/bitcoinbook

If you want terminology
Terminology.
https://buybitcoinworldwide.com/glossary/

[Mehmet69]

I noticed that most newbies are finding it difficult to understanding some simple terms in the bitcoin furom so I insisted to come up with an ideal to make it easier for them incase they come across this words in the furom.  for most newbies I will require you take some time to study this link .I would have just given a short explanation but I think having a full knowledge is better for more understanding and perspective viewing.

I will be glad to know if I missed any.  thanks for your time

Your initiative is very good. But there are many threads on the same topic. But I think the thing that is lacking in the Beginners & Help thread is that newbies don't find those threads after coming. Maybe a little searching will solve all the problems. But many people don't understand that in a new situation.

But your contribution will be very useful for a real newbie.

[George Edward]

This word newbie is really abused and I wonder who is really a newbie is in person. A newbie by rank doesn't mean the person is newbie, there are users registered years ago and don't have much activity but have more knowledge and contribution to legendary users. A legendary user can be a newbie to certain information, not really an account thing.

yh that's true thanks for the correction ,not every newbie in the forum are newbies in bitcoin and I like I said most newbies so I was actually talking about those that are new in the bitcoin, so thanks again for that correction .

[Natalim]

Thank you for the efforts OP just to provide these basic terms for newbies. However, it’s true that not all newbies here are actually newbies about bitcoin. Their position might still be newbie but most probably, they already have quite good understanding about bitcoin, which is a good thing so they can share relevant information that would benefit the whole forum members.

Now for those real newbies in the forum, if you have skip this post, at least if you know how to use the search engine, then you will definitely make a good research still.

[BitGoba]

For all beginners who want to better understand Bitcoin, it is essential to read these three books:“The Bitcoin Standard” and “The Fiat Standard” by Saifedean Ammous, and “Broken Money” by Lyn Alden.
It’s also worth reading “The Big Print” by Lawrence Lepard and “The Price of Tomorrow” by Jeff Boot.After reading these books, everyone will have a much better understanding of Bitcoin.
The terms they may not have understood before, they’ll now be able to explore on their own  because only then do they truly start to understand what Bitcoin is.

[odolvlobo]

Newbies seem to love posting glossaries, but they are typically full of errors and misunderstandings. I encourage newbies to avoid the practice.

The following terms have descriptions that are inaccurate or not applicable to Bitcoin:

13. Wallet Backup -- It says to update the backup every time a new address is generated. That is unnecessary and risky for a bitcoin wallet.
20. Wallet Address -- A Bitcoin wallet does not have an address. It contains addresses.
23. Decentralization -- The description applies to business management. It does not apply to Bitcoin, networks, or protocols.
35. WIF -- The link you posted is a description of WIFcoin. Clearly, you have no understanding of what WIF means.
37. Ransomware -- The term has no place in a glossary about Bitcoin.

[Botnake]

You know, you don’t have to actually learn all these terms so you can understand bitcoin. Because in the long run, if you keep being active in the forum, you will slowly understand the whole point of view about bitcoin and how it can be understood and utilized well so you can have a greater understanding and a bigger chances of profitability at the end of the day.

Bitcoin is bitcoin. It does not need to be complicated that you have to be equipped with all these terms, just prioritize the basics and you’ll surely maximize your bitcoin understanding.

[Rustam Meraj]

For all beginners who want to better understand Bitcoin, it is essential to read these three books:“The Bitcoin Standard” and “The Fiat Standard” by Saifedean Ammous, and “Broken Money” by Lyn Alden.
It’s also worth reading “The Big Print” by Lawrence Lepard and “The Price of Tomorrow” by Jeff Boot.After reading these books, everyone will have a much better understanding of Bitcoin.
The terms they may not have understood before, they’ll now be able to explore on their own  because only then do they truly start to understand what Bitcoin is.

These choices do not just explain what Bitcoin is but also its important place in history and economics. Books like you mentioned The Bitcoin Standard and The Fiat Standard by Saifedean Ammous teach about money past and why Bitcoin could be better option while Broken Money by Lyn Alden clarifies how Bitcoin fits into global economy. The Big Print by Lawrence Lepard and The Price of Tomorrow by Jeff Booth further connect Bitcoin to wider financial ideas ultimately giving readers knowledge to understand new information and deeper meaning of money and economics other than just memorizing facts.

[ruykeri]

its a great topic. its so helpful. every subject are written here with so easily and more details. can anyone share some vdo of every subject about bitcoin or crypto currency. im working on learning about everything but i need to know more better.

[ABCbits]

Aside from what other member said, i also wondered why you specifically mentioned term P2PKH (sometimes called legacy address) but doesn't mention other kind of address (e.g. P2TR).

The following terms have descriptions that are inaccurate or not applicable to Bitcoin:

13. Wallet Backup -- It says to update the backup every time a new address is generated. That is unnecessary and risky for a bitcoin wallet.

To be exact, it's no longer applicable today since wallet these days create HD (hierarchical deterministic) wallet.

[MykeAdams]

I noticed that most newbies are finding it difficult to understanding some simple terms in the bitcoin furom so I insisted to come up with an ideal to make it easier for them incase they come across this words in the furom.  for most newbies I will require you take some time to study this link .I would have just given a short explanation but I think having a full knowledge is better for more understanding and perspective viewing.

1. Cryptocurrency
https://www.kaspersky.com/resource-center/definitions/what-is-cryptocurrency
2.Bitcoin
https://www.newscientist.com/definition/bitcoin/
3 .ATH
https://www.babypips.com/crypto/glossary/all-time-high-ath
4.Satoshi
https://www.investopedia.com/terms/s/satoshi.asp
5.Wallet
https://www.investopedia.com/terms/b/bitcoin-wallet.asp
6.Lightning Network 
https://www.investopedia.com/terms/l/lightning-network.asp
7.Blockchain
https://www.investopedia.com/terms/b/blockchain.asp
8.HODL
https://www.investopedia.com/terms/h/hodl.asp
9.Exchange
https://www.forbes.com/advisor/in/investing/cryptocurrency/what-is-a-crypto-exchange/
10.Bull Market
https://coinledger.io/learn/crypto-bull-market
11.Fiat Currency
https://www.investopedia.com/terms/f/fiatmoney.asp
12.FOMO
https://www.investopedia.com/deal-with-crypto-fomo-6455103
13.Wallet Backup
https://cryptosafetyfirst.com/wallet-backup/
14 Bear market
https://www.investopedia.com/terms/b/bearmarket.asp
15.Public Key
https://www.investopedia.com/terms/p/public-key.asp
16.Mining
https://www.investopedia.com/terms/b/bitcoin-mining.asp
17.Halving
https://www.investopedia.com/bitcoin-halving-4843769
18.Altcoin
https://www.investopedia.com/terms/a/altcoin.asp
19.FUD
https://coinmarketcap.com/academy/glossary/fud
20.Wallet Address
https://help.zengo.com/en/articles/6824194-what-is-a-wallet-address-and-how-do-i-find-it
21.Wallet Encryption
https://materialbitcoin.com/in/blog/crypto-wallet-encryption/?srsltid=AfmBOoqzQmBkD6G8tSkOEPyMMyHcOZRiV_XGAQjQAe9o_TBlBaUrGAKW
22.Peer-to-Peer (P2P)
https://www.bitpanda.com/academy/en/lessons/peer-to-peer-p2p/
23.Decentralization
https://www.peoplehum.com/glossary/decentralisation
24.Cryptography
https://www.fortinet.com/resources/cyberglossary/what-is-cryptography
25.Multisignature
https://www.investopedia.com/multi-signature-wallets-definition-5271193
26.Pump and Dump
https://www.investopedia.com/terms/p/pumpanddump.asp
27.Market Cap
https://www.bitpanda.com/academy/en/lessons/what-is-market-capitalisation-market-cap-and-why-does-it-matter/
28.Public Ledger
https://www.investopedia.com/tech/what-cryptocurrency-public-ledger/
29.ICO
https://www.investopedia.com/terms/i/initial-coin-offering-ico.asp
30.Private Key
https://www.investopedia.com/terms/p/private-key.asp
31.Paper Wallet
https://www.investopedia.com/terms/p/paper-wallet.asp#:~:text=A%20paper%20wallet%20is%20a,barcode%20created%20by%20an%20app.
32.Hash Rate
https://www.investopedia.com/hash-rate-6746261
33.P2PKH
https://bitcoinwiki.org/wiki/pay-to-pubkey-hash
34.Node
https://www.bitpanda.com/academy/en/lessons/what-is-a-bitcoin-node/
35.WIF
https://coinrabbit.io/blog/what-is-wif-coin-and-how-to-use-it-to-make-crypto-gains/
36.KYC
https://notabene.id/crypto-travel-rule-101/kyc-crypto
37.Ransomware
https://www.checkpoint.com/cyber-hub/ransomware/what-is-crypto-ransomware/

I will be glad to know if I missed any.  thanks for your time

Your idea has great potentials wish can improve newbies understanding bitcoin and participating in the forum. I also noticed most newbies struggle with understanding some of the common concepts of this forum.
So I thank this OP for taking time to explain this thread appropriately.
I’ll do my best to check out the links you shared and I encourage others to do the same too.
Feels so good to have people who are willing to lecture others to grow in the community.

[JiiBs]

Every field has its own dictionary as applies to use of certain words and terms which explains just why these glossaries are useful but, imagine going to a dictionary and you are been given a link to look up on the web to find its meaning. It simply means, even the OP hasn’t got an understanding of some of these basic terms but just a referenced work. That’s why I favor this quote:

Newbies seem to love posting glossaries, but they are typically full of errors and misunderstandings. I encourage newbies to avoid the practice.

The following terms have descriptions that are inaccurate or not applicable to Bitcoin:

13. Wallet Backup -- It says to update the backup every time a new address is generated. That is unnecessary and risky for a bitcoin wallet.
20. Wallet Address -- A Bitcoin wallet does not have an address. It contains addresses.
23. Decentralization -- The description applies to business management. It does not apply to Bitcoin, networks, or protocols.
35. WIF -- The link you posted is a description of WIFcoin. Clearly, you have no understanding of what WIF means.
37. Ransomware -- The term has no place in a glossary about Bitcoin.

You debunked so much in this short comment than I would say was done in the OP. Not just because you clarified what certain terms meant but the means you used. Instead having to out at links as observed in the OP, you have a simplified definition of the terms as it applies.

[IjawMan]

Newbies seem to love posting glossaries, but they are typically full of errors and misunderstandings. I encourage newbies to avoid the practice.

The following terms have descriptions that are inaccurate or not applicable to Bitcoin:

13. Wallet Backup -- It says to update the backup every time a new address is generated. That is unnecessary and risky for a bitcoin wallet.
20. Wallet Address -- A Bitcoin wallet does not have an address. It contains addresses.
23. Decentralization -- The description applies to business management. It does not apply to Bitcoin, networks, or protocols.
35. WIF -- The link you posted is a description of WIFcoin. Clearly, you have no understanding of what WIF means.
37. Ransomware -- The term has no place in a glossary about Bitcoin.

I chipped into the WIF it is a memecoin and I was pondering how it has to do with bitcoin when what the Op title is bitcoin terms for we newbies to learn about. Good a thing you pointed these errors out for our clarity. If we have to learn as newbies, we should learn the right and accurate things about bitcoin.

[Porfirii]

You know, you don’t have to actually learn all these terms so you can understand bitcoin. Because in the long run, if you keep being active in the forum, you will slowly understand the whole point of view about bitcoin and how it can be understood and utilized well so you can have a greater understanding and a bigger chances of profitability at the end of the day.

Bitcoin is bitcoin. It does not need to be complicated that you have to be equipped with all these terms, just prioritize the basics and you’ll surely maximize your bitcoin understanding.

In fact, reading these terms in a context gives you already an idea of their meaning. For others that are not so intuitively intelligible, wondering what they mean, searching the term in a search engine, and learning them case by case is part of the crypto-journey.

A glossary is ok, and those newbies who stop by can get familiar with some of the terms. So thank you for that. But nobody should try to learn the list by heart.

[Su-asa]

It's not a bad topic though, but I think one do not have to read through all this thing before they can understand what Bitcoin is. However if you want to invest into Bitcoin you don't need to know all this things because to me it doesn't matter and those are not actually what will make you get profits from the market. It will only make you be knowledgeable about it. Knowing few of these is more important than know all of them.

[MykeAdams]

I noticed that most newbies are finding it difficult to understanding some simple terms in the bitcoin furom so I insisted to come up with an ideal to make it easier for them incase they come across this words in the furom.  for most newbies I will require you take some time to study this link .I would have just given a short explanation but I think having a full knowledge is better for more understanding and perspective viewing.

1. Cryptocurrency
https://www.kaspersky.com/resource-center/definitions/what-is-cryptocurrency
2.Bitcoin
https://www.newscientist.com/definition/bitcoin/
3 .ATH
https://www.babypips.com/crypto/glossary/all-time-high-ath
4.Satoshi
https://www.investopedia.com/terms/s/satoshi.asp
5.Wallet
https://www.investopedia.com/terms/b/bitcoin-wallet.asp
6.Lightning Network 
https://www.investopedia.com/terms/l/lightning-network.asp
7.Blockchain
https://www.investopedia.com/terms/b/blockchain.asp
8.HODL
https://www.investopedia.com/terms/h/hodl.asp
9.Exchange
https://www.forbes.com/advisor/in/investing/cryptocurrency/what-is-a-crypto-exchange/
10.Bull Market
https://coinledger.io/learn/crypto-bull-market
11.Fiat Currency
https://www.investopedia.com/terms/f/fiatmoney.asp
12.FOMO
https://www.investopedia.com/deal-with-crypto-fomo-6455103
13.Wallet Backup
https://cryptosafetyfirst.com/wallet-backup/
14 Bear market
https://www.investopedia.com/terms/b/bearmarket.asp
15.Public Key
https://www.investopedia.com/terms/p/public-key.asp
16.Mining
https://www.investopedia.com/terms/b/bitcoin-mining.asp
17.Halving
https://www.investopedia.com/bitcoin-halving-4843769
18.Altcoin
https://www.investopedia.com/terms/a/altcoin.asp
19.FUD
https://coinmarketcap.com/academy/glossary/fud
20.Wallet Address
https://help.zengo.com/en/articles/6824194-what-is-a-wallet-address-and-how-do-i-find-it
21.Wallet Encryption
https://materialbitcoin.com/in/blog/crypto-wallet-encryption/?srsltid=AfmBOoqzQmBkD6G8tSkOEPyMMyHcOZRiV_XGAQjQAe9o_TBlBaUrGAKW
22.Peer-to-Peer (P2P)
https://www.bitpanda.com/academy/en/lessons/peer-to-peer-p2p/
23.Decentralization
https://www.peoplehum.com/glossary/decentralisation
24.Cryptography
https://www.fortinet.com/resources/cyberglossary/what-is-cryptography
25.Multisignature
https://www.investopedia.com/multi-signature-wallets-definition-5271193
26.Pump and Dump
https://www.investopedia.com/terms/p/pumpanddump.asp
27.Market Cap
https://www.bitpanda.com/academy/en/lessons/what-is-market-capitalisation-market-cap-and-why-does-it-matter/
28.Public Ledger
https://www.investopedia.com/tech/what-cryptocurrency-public-ledger/
29.ICO
https://www.investopedia.com/terms/i/initial-coin-offering-ico.asp
30.Private Key
https://www.investopedia.com/terms/p/private-key.asp
31.Paper Wallet
https://www.investopedia.com/terms/p/paper-wallet.asp#:~:text=A%20paper%20wallet%20is%20a,barcode%20created%20by%20an%20app.
32.Hash Rate
https://www.investopedia.com/hash-rate-6746261
33.P2PKH
https://bitcoinwiki.org/wiki/pay-to-pubkey-hash
34.Node
https://www.bitpanda.com/academy/en/lessons/what-is-a-bitcoin-node/
35.WIF
https://coinrabbit.io/blog/what-is-wif-coin-and-how-to-use-it-to-make-crypto-gains/
36.KYC
https://notabene.id/crypto-travel-rule-101/kyc-crypto
37.Ransomware
https://www.checkpoint.com/cyber-hub/ransomware/what-is-crypto-ransomware/

I will be glad to know if I missed any.  thanks for your time

I totally agree with this initiative. Someone like me who has been in the forum for a while , have seen how difficult and overwhelming it can be to lay put with the community terms.
Bringing out a resource like this will certainly reduce the gap and make it easier for newbies to contribute meaningfully. I guess the more informed the forum is, the stronger it becomes
Thanks for taking time developing this OP, I’m certainly sure many will find it useful.