What do you know about bitcoin?

[Text]

in my experience many people first hear about Bitcoin through ads or social media so sometimes the information they get is incomplete or even misleading. I also learned about Bitcoin gradually not all at once. At the beginning I only knew it as a digital coin that people can buy & sell but as I read more & followed discussions in crypto communities I realised that Bitcoin is more than just trading or making profit.

there are also other ways people interact w/ Bitcoin such as trading, mining or using it for payments but I think the most important step is learning first before investing., understanding how wallets work, how to secure your funds & how the market behaves can help avoid mistakes.

I also believe there is still a lot more to learn about Bitcoin. The crypto space keeps evolving so sharing knowledge & experiences in forums like this is very helpful for everyone.

[Aanuoluwatofunmi]

Bitcoin is very broad and we cannot assume that we have known it all, this is why we must always stay updated with the latest development happening around the network, learning is always what can make us get more improved in life and also to discover more about what we do, this is why bitcoin has the very tendency of putting us through the learning pace, because the more we are informed the better it becomes for us to use bitcoin more effectively.

[Pi-network314159]

"what do you know about bitcoin" still stands cuz I believe bitcoin is about more that I have. no idea and I'm willing to learn so help me with that secret idea about bitcoin. 

Well, how I know about Bitcoin was not from any ads, I first knew about Bitcoin when people often talked about it and how it is expensive and it's a profitable investment for long term but I didn't get to know more about it until I went to YouTube and ask a question to learn about it. This forum helped and opened my eye to what Bitcoin is all about. Bitcoin is a decentralized currency, meaning it runs in a Blockchain. It's transaction are stored in the Blockchain. It is not controlled by a third party like bank. It is a currency of its own and a store of value, It traction runs from wallet to wallet. It's value is determined by demand and supply. Bitcoin is limited in supply which makes it scares and expensive.  I think you should look at those Link sheard in the comment section, you will find them interesting because it consist of useful information about Bitcoin.

[Claudio973]

Bitcoin is created in the year 2009, it's the first digital currency in the world. It was created by a person whose name is Satoshi Nakamoto. It is not owned by the government or any third party that's why it's decentralized. It can't be controlled by any one or bank. It is for everyone and it runs on a global network of computer nodes. It can be trade which also means that you can buy and sell it whenever you like. It rise and fall on different occasions and can add meaningful value or change ones for good. It's a computer network that can be operated by anyone. Bitcoin can also be use as a method of transaction between a buyer and seller of any goods in the market. It has made life easier.

[purple_sparkles]

For me, bitcoin is first and foremost an investment opportunity in something I am relatively confident about. I believe bitcoin is a reliable investment that justifies itself, which cannot always be said about fiat currencies. Right now we see strong inflation in national currencies, and some countries are even close to default. Bitcoin, on the other hand, is not tied to any single country. Of course, it reacts to global news, especially negative news, but the moments when it drops in price are more like opportunities for me to buy it at a better value.

[johnnyyash]

The question "what do you know about bitcoin" still stands cuz I believe bitcoin is about more that I have. no idea and I'm willing to learn so help me with that secret idea about bitcoin. 

Bitcoin is digital currency, have its own blockchain, it can be mined and the token supply is capped, Satoshi created it, and it is decentralized, no central authority could control it unless they have a lot of bitcoins in their wallet and they sell and buy, so bro this way they can manipulate the price but they can't control or manage anything in the bitcoin.

This is a pretty basic thing, right? You need to know more, well, bro you need to read a lot of topics already been created in this forum you are at the right place to ask this question. Check the following threads out for more knowledge.
https://bitcointalk.org/index.php?topic=5187275.0
https://bitcointalk.org/index.php?topic=5138618.0

I truly agree with you.. More knowledge is needed!!!

[aylabadia05]

The question "what do you know about bitcoin" still stands cuz I believe bitcoin is about more that I have. no idea and I'm willing to learn so help me with that secret idea about bitcoin. 

The ads I often see displaying the Bitcoin logo are from exchange platforms. This is true where I live, and this is what I've experienced.
What I know about Bitcoin is that it's the king of coins. It's a valuable coin, and its price is already higher than other coins. I say this because some people judge Bitcoin solely on its price, and I don't blame them for that.

Bitcoin is a system for people to transact or a digital currency. Bitcoin owners are the owners of their own assets. While Bitcoin can't be used as a currency, it can still be a good asset to invest in, as it's the best hedge.

[Josefjix]

You already sounded like you know about Bitcoin and that you should be able to go about it.

Anyway, I love your boldness and the courage to come over here to ask questions like this, since you already know all these you mentioned, I'll only tell you what is needed to know first as a bitcoiner, to buy and sell Bitcoin to and fro from Fiat. I mean, the ability to buy Bitcoin from your debit card to your crypto wallet, and sell it to your local currency.

That's the best thing you could be able to do before thinking about others like mining and the rest.

[Akbarkoe]

I don't know anything about Bitcoin. Maybe I'll ask Google or even AI to figure it out. Lol

I only know Bitcoin is like a flower. I see it growing in my yard, and I water it with milk every day.
I pick it every four years, or maybe sooner or later, depending on whether I need it or not, and its value and condition.
But one thing's for sure, if you know about Bitcoin, you should buy a lot of seeds from the market, plant them in your yard, and enjoy the harvest.

[kawetsriyanto]

For me, bitcoin is first and foremost an investment opportunity in something I am relatively confident about. I believe bitcoin is a reliable investment that justifies itself, which cannot always be said about fiat currencies. Right now we see strong inflation in national currencies, and some countries are even close to default. Bitcoin, on the other hand, is not tied to any single country. Of course, it reacts to global news, especially negative news, but the moments when it drops in price are more like opportunities for me to buy it at a better value.

I appreciate that you trust Bitcoin very well. However, we must be aware that Bitcoin is still a high risk investment. The price is volatile, it sometimes can skyrocket but it can freefall at any time. So, we must anticipate this possibility. And we must also realize that Bitcoin price can be influenced by the political issues or economic issues. Even if it doesn't belong to a certain country, it isn't immune to the issues of countries around the world.

Yep, currently it is good time for entry or buying Bitcoin because we are in the bearish market. But we don't hurry buying Bitcoin. We need to do analysis to know the best price for entry (buying).

[vanesha]

There is no secret that I know, generally bitcoin is a digital exchange tool as well as a coin used for high-value investments followed by advanced technology, namely blockchain, maybe there are some issues that I have heard such as bitcoin being used in dark transactions such as hacker sites, but that is the past, almost everyone in the world knows the existence of bitcoin as a high-value digital currency and it is not a secret.

[Satofan44]

There is no point making such a generic question, you could have made a poll with a few answer questions. 99% of the users of this forum barely know the basics of Bitcoin and they do so only in very generic terms, and in the outside world the situation is even worse. Somewhere about 99.9% of the people do not know anything about Bitcoin. They may have heard some terms that are used in this process such as mining and decentralization, they most certainly may have heard of the name Bitcoin but that is not the same as knowing things about Bitcoin.

I appreciate that you trust Bitcoin very well.

Bitcoin is about removing trust, if you are "trusting Bitcoin" then you are doing it wrong.

However, we must be aware that Bitcoin is still a high risk investment. The price is volatile, it sometimes can skyrocket but it can freefall at any time.

No, it is not. Stop repeating things from the past that don't apply anymore. Bitcoin is widely regulated, established in many places and has very low volatility compared to the past. It is less volatile than many stock alternatives. It is time to stop repeating this as it is the equivalent of baseless FUD, even if it was accurate in the past -- that does not excuse it.

There is no secret that I know, generally bitcoin is a digital exchange tool as well as a coin used for high-value investments followed by advanced technology, namely blockchain, maybe there are some issues that I have heard such as bitcoin being used in dark transactions such as hacker sites, but that is the past, almost everyone in the world knows the existence of bitcoin as a high-value digital currency and it is not a secret.

Funny, not a single claim that you have written here is accurate.

[JoyMarsha]

secondly the person who introduced you to bitcoin will be like an adviser pertaining on how to invest and manege your earnings, most people knew bitcoin through  ads and doesn't really knows how to invest or know the main purpose of the coin and might not know, else someone who knows better teaches them what it means to buy, to mine, to hold and also to trade

The person who introduces you to bitcoin could also be the person to scam you; unfortunately, this is why you need to still be cautious.

Not everyone who introduces you to Bitcoin has good intentions for you; there are many people who have been scammed by the person who introduced them to Bitcoin. This was really rampant during the time when investment scams were a trend. Many new people were lured to bitcoin and introduced to fake investment platforms.

What you said is just the truth. I have met people who have complained to me the reason why they won't invest in Bitcoin because someone who introduced them to Bitcoin scammed them of their money by telling them they should invest with huge amount in their platform, within few days he will double their money.  Since then till now, it is different stories the person keep telling them.

However, someone who has this kind of ugly experience with someone who introduced them to Bitcoin. Do you think they can easily accept what you say to them, if you advice them to invest in Bitcoin? Hardly will they try that

[Overtronbot]

Bitcoin is both the beginning and the end of the story.
The beginning, because most people first hear about Bitcoin through hype, price, scams, or someone trying to sell them a dream. The end, because after all the noise, the deeper you go, the more you realize Bitcoin is not really about getting rich fast — it is about ownership, scarcity, and removing the need to trust middlemen.

A lot of people know the name Bitcoin, but very few understand why it was created in the first place. They see the chart, not the idea. They hear “investment,” but miss the fact that Bitcoin started as a response to broken money, inflation, and centralized control.

So if someone asks me what I know about Bitcoin, my answer is simple:
at first, Bitcoin looks like a coin; in the end, it looks like a system, a philosophy, and a test of whether people really want financial freedom or just easy profit.

[JiiBs]

Somewhere about 99.9% of the people do not know anything about Bitcoin. They may have heard some terms that are used in this process such as mining and decentralization, they most certainly may have heard of the name Bitcoin but that is not the same as knowing things about Bitcoin.

I can’t say about the statistics but, this I know to be true, Bitcoin is more of a popular term to a lot of persons and very few of those persons can actually claim to know a thing or two of Bitcoin.
Some don’t even know it to be a currency!
Should you try to find out from them what they know of Bitcoin and you would get responses like,

“It’s some digital stuff” and that’s it. I’ve tried a couple of times and I always end up disappointed. I guess what makes me disappointed is; with Bitcoin being this popular and a term on almost every lips, how does that not push got more curiosity? I guess I was like that at some point but, I got curious and looked for answers.

[Stalker22]

I can’t say about the statistics but, this I know to be true, Bitcoin is more of a popular term to a lot of persons and very few of those persons can actually claim to know a thing or two of Bitcoin.
Some don’t even know it to be a currency!
Should you try to find out from them what they know of Bitcoin and you would get responses like,

“It’s some digital stuff” and that’s it. I’ve tried a couple of times and I always end up disappointed. I guess what makes me disappointed is; with Bitcoin being this popular and a term on almost every lips, how does that not push got more curiosity? I guess I was like that at some point but, I got curious and looked for answers.

I understand your frustration, but I think the same can be said for most other things.  Think about it, how many people drive a car every day but couldnt tell you the first thing about how car engine actually works?  Or use a smartphone without having a clue what a microprocessor is?  Most people just want things to work.  they dont care about the "why" until they absolutely have to.

Its the same with Bitcoin, and I doubt things will change much in the foreseeable future. Unfortunately.