Looking for Bitcoin Q/A - Please contribute

[CoinLearn]

We are running CoinLearn.org a Learning + Earning site for Bitcoin. We are planning to expand the Q/A database and hence looking for your support. Hereby requesting everyone to post some Q/A that they think a Bitcoin beginner should know...

Below is an example...

Q. What are the units of Bitcoin ?

A. There are 4 standard units of Bitcoin...
    i. 1 BTC = 1 Bitcoin
    ii. 1 mBTC = 10^(-3) Bitcoin
    iii. 1 μBTC = 10^(-6) Bitcoin
    iv. 1 Satoshi = 10^(-8) Bitcoin

[1715498105]

1715498105

[lepirate]

There's already a good FAQ available from the bitcoin website: https://bitcoin.org/en/faq

[MasterX]

i just tried www.coinlearn.org out, bit of a poor mans website.
It looks like its made in 1998 with lots (way to many for the content on the site.) of ads.
When people use an ad blocker, it looks like a text only page with a rainbow colored title.

[CoinLearn]

There's already a good FAQ available from the bitcoin website: https://bitcoin.org/en/faq

Yah, I checked it and https://en.bitcoin.it/wiki/Faq is also a good one. But I dont want to copy-paste. Those can be presented in a less technical and interesting way for newbies. And I'm looking for some interesting Q/A as well. Here is an example...

Q. I heard someone bought 2 Piza for 10,000 BTC. Is it true ?

A. Yes, it absolutely is. The order was placed on May 18, 2010 and was executed on May 22, 2010. Those were the early days of bitcoin. You may find the details here.

[BitCoinDream]

@CoinLearn You may add the following Q

Q. What advantages a buyer get in using bitcoin ?

A. Following is a list of few advantages...

1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.

2. Buyer's anonymity.

3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.

[CoinLearn]

@CoinLearn You may add the following Q

Q. What advantages a buyer get in using bitcoin ?

A. Following is a list of few advantages...

1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.

2. Buyer's anonymity.

3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.

Thank you for your input...

[newIndia]

Q. PoW and PoS - What are these ?

A. Proof-of-Work and Proof-of-Stake are criteria that determine your ability to add a block to the block chain. Their purpose is to ensure that the cost of adding an invalid transaction to the block chain is more than the benefit of the invalid transaction.

In PoW, the amount of work done by your mining hardware determines your chances of adding a block. In order to double spend you would need to expend a lot of computing power.

In PoS, the amount of coins you own determines your chances of adding a block. Double-spending damages the integrity of the currency, and doing it would threaten the value of the coins you own.

[Ron~Popeil]

Some kind of security lesson would be really good as well. The basics of cold wallets and encrypting your desktop wallet especially. 

[CoinLearn]

Some kind of security lesson would be really good as well. The basics of cold wallets and encrypting your desktop wallet especially.  

We have a few Q/A on security, but u may definitely post your own. More information is better for newbies.


@newIndia Thank u for your input...

[BitCoinDream]

Q. What is a 51% attack ?

[S4VV4S]

@CoinLearn You may add the following Q

Q. What advantages a buyer get in using bitcoin ?

A. Following is a list of few advantages...

1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.

2. Buyer's anonymity.

3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.

FTFY

There is no such thing as anonymity in Bitcoin AFA.
Everything is recorded in a public ledger.

[BetVIP]

There's already a good FAQ available from the bitcoin website: https://bitcoin.org/en/faq

Yah, I checked it and https://en.bitcoin.it/wiki/Faq is also a good one. But I dont want to copy-paste. Those can be presented in a less technical and interesting way for newbies. And I'm looking for some interesting Q/A as well. Here is an example...

Q. I heard someone bought 2 Piza for 10,000 BTC. Is it true ?

A. Yes, it absolutely is. The order was placed on May 18, 2010 and was executed on May 22, 2010. Those were the early days of bitcoin. You may find the details here.

How about this? Really good way to teach new people about Bitcoin
http://blog.betvip.com/2014/06/bitcoin-infographic/

[marcotheminer]

Q. What is a 51% attack ?

Feel free to summarise fom http://learncryptography.com/51-attack/

[BitCoinDream]

@CoinLearn You may add the following Q

Q. What advantages a buyer get in using bitcoin ?

A. Following is a list of few advantages...

1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.

2. Buyer's anonymity.

3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.

FTFY

There is no such thing as anonymity in Bitcoin AFA.
Everything is recorded in a public ledger.

When I buy a domain in NameCheap using bitcoin, I remain anonymous. This is not the case for FIAT buying as they get my Credit Card info.

[S4VV4S]

@CoinLearn You may add the following Q

Q. What advantages a buyer get in using bitcoin ?

A. Following is a list of few advantages...

1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.

2. Buyer's anonymity.

3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.

FTFY

There is no such thing as anonymity in Bitcoin AFA.
Everything is recorded in a public ledger.

When I buy a domain in NameCheap using bitcoin, I remain anonymous. This is not the case for FIAT buying as they get my Credit Card info.

To the merchant yes. But your transaction can still be tracked.
That is what I was trying to say

[BitCoinDream]

@CoinLearn You may add the following Q

Q. What advantages a buyer get in using bitcoin ?

A. Following is a list of few advantages...

1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.

2. Buyer's anonymity.

3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.

FTFY

There is no such thing as anonymity in Bitcoin AFA.
Everything is recorded in a public ledger.

When I buy a domain in NameCheap using bitcoin, I remain anonymous. This is not the case for FIAT buying as they get my Credit Card info.

To the merchant yes. But your transaction can still be tracked.
That is what I was trying to say

Transaction tracking is not a problem if the address owner is not known. This stands by the idea of staying anonymous using Bitcoin.

[S4VV4S]

@CoinLearn You may add the following Q

Q. What advantages a buyer get in using bitcoin ?

A. Following is a list of few advantages...

1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.

2. Buyer's anonymity.

3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.

FTFY

There is no such thing as anonymity in Bitcoin AFA.
Everything is recorded in a public ledger.

When I buy a domain in NameCheap using bitcoin, I remain anonymous. This is not the case for FIAT buying as they get my Credit Card info.

To the merchant yes. But your transaction can still be tracked.
That is what I was trying to say

Transaction tracking is not a problem if the address owner is not known. This stands by the idea of staying anonymous using Bitcoin.

ALL address owners can be verified simply by following the transactions.
It might not be immediately but at some point it happens.

Why do you think the CIA loves the idea of BTC?

Because they can now track what they couldn't do before with plain old cash.

Whether you choose to deny this fact or not, it's there.

I am sure Gavin can verify that the CIA is just fine with the BTC protocol.
After all he explained it to them, and they had decided that it wasn't a thread (maybe even they had realized that it's their greatest ally).

 

[BitCoinDream]

@CoinLearn You may add the following Q

Q. What advantages a buyer get in using bitcoin ?

A. Following is a list of few advantages...

1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.

2. Buyer's anonymity.

3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.

FTFY

There is no such thing as anonymity in Bitcoin AFA.
Everything is recorded in a public ledger.

When I buy a domain in NameCheap using bitcoin, I remain anonymous. This is not the case for FIAT buying as they get my Credit Card info.

To the merchant yes. But your transaction can still be tracked.
That is what I was trying to say

Transaction tracking is not a problem if the address owner is not known. This stands by the idea of staying anonymous using Bitcoin.

ALL address owners can be verified simply by following the transactions.
It might not be immediately but at some point it happens.

Why do you think the CIA loves the idea of BTC?

Because they can now track what they couldn't do before with plain old cash.

Whether you choose to deny this fact or not, it's there.

I am sure Gavin can verify that the CIA is just fine with the BTC protocol.
After all he explained it to them, and they had decided that it wasn't a thread (maybe even they had realized that it's their greatest ally).

 

CIA is not happy with the current protocol as they are unable to track anything. Hence they are trying push different changes in the protocol level through Gavin including 3rd party security certificate verification.

[CoinLearn]

Q. What is a 51% attack ?

Thank you. This is already covered.

[Beliathon]

I'm a big fan of this FAQ:

https://en.bitcoin.it/wiki/Myths