A Bitcoin Primer
Are You Ready Get Started With Bitcoin?
Bitcoin can be thought of as money or currency. One bitcoin (abbreviated as BTC, XBT or ฿) is worth around US$225 at the time of this writing. The smallest official unit of Bitcoin currency is 1 satoshi or .00000001 of a bitcoin. There are other denominations, but you can learn them as you progress. Like all currencies (e.g. dollars, euros or yen) it's value fluctuates from day to day depending on market conditions. Bitcoin is a digital form of money based upon numbers, mathematics and computers and the relationship of all three of these to one another. However, it is not necessary to understand how it works if you just want to use it as a form of money to store value, invest in or even to purchase goods and services.
This a minimalist's primer to get you up and running with Bitcoin. All it requires is a computer/smartphone and an Internet connection. It does NOT require any ID, Bank account, email address or even creating a user name or password. First, you will create a Bitcoin wallet that stores your bitcoins, and performs bitcoin transactions (send and receive bitcoins). Next you will earn bitcoins by following a procedure. In the procedure, you go to a web page to cut and paste your Bitcoin Wallet address into a data input box, check mark a reCAPTCHA to prove you are not a robot (you may also have to identify objects as part of the reCAPTCHA robot screening), and then click on the "Get a reward!" button to collect your bitcoins.
You will see many distractions and shortcuts along the route this primer describes. I recommend sticking with this primer's numbered procedure and returning later to explore these tangents and byways at your leisure. There are easier and faster ways to get your bitcoins, but that may require money, bank accounts, ID, passwords and such. This method requires nothing on your part except to go through the actions detailed below. While you are waiting 5 minutes as part of the repeated bitcoin earning cycle, I recommend exploring your Rush Wallet, the Paytoshi Wallet and the CryptoCoinsNews.com site which is full of Bitcoin information. Also, ZapChain.com is a great place to get involved and participate in the Bitcoin world. Bitcoin is a vast domain and it will take a while to master it, but your journey will be a fun adventure of learning and discovery as you explore this enigmatic and fascinating realm. Bon voyage!
Follow theses steps in the order specified:
1. Go to https://rushwallet.com/ and move your mouse to make the cursor move randomly inside the box. Do this until your new Bitcoin Wallet appears. This takes a minute.
2. On the web page that is your wallet, notice the long series of characters labeled "Your Bitcoin Address" and copy these characters to your clipboard. You will also see "Send" and "Receive" buttons and your ฿ balance which is 0 because you have not put anything into your wallet yet. It is a good idea to eventually explore this page and learn, but this is not necessary to get started. Nevertheless, BE SURE TO BOOKMARK YOUR WALLET RIGHT NOW FOR EASY ACCESS OR YOU MAY MISPLACE IT! Return to this primer and go to the next step.
3. Go to https://www.cryptocoinsnews.com/
4. Find and click on "FREE BITCOINS" on the navigation bar around the top of the page. Bookmark the new FREE BITCOINS page for easy access.
5. On the FREE BITCOINS page, scroll half the way down the page to the text that states "Enter your Bitcoin address" and paste the Rush Wallet address (copied to your clipboard in step 2) into the box just below the text.
6. Scroll a couple of inches or so down the page and check the "I am not a robot" box. Deal with the reCAPTCHA robot foil if you have to.
7. Move a few inches down the page and hit the "Get a reward!" button and BTC will be awarded into your Paytoshi Wallet.
8. Go to https://paytoshi.org/ and move half way down the page. Find where it says "Check your balance", input your Rush Wallet address into the box below this and click on the red button that says "Check!". Examine your Paytoshi Wallet and when you accrue more than 0.00006 BTC the Paytoshi Wallet will send them automatically to your Rush Wallet. You are eligible for payment once the balance due to your Paytoshi Wallet BTC address is above your withdrawal threshold (0.00006 BTC). You can set your preferred payment threshold in the "Settings" section of your Paytoshi Wallet. It can take up to 72 hours for the transfer and they will take a small fee out of your bitcoins.
9. Go to the FREE BITCOINS page that you bookmarked previously and repeat steps 5 through 7. Wait 5 minutes before you perform these steps. It will take about 15 or so repeats of these 3 steps to amass enough bitcoins to exceed the threshhold and trigger the release of your bitcoins from the Paytoshi Wallet to your Rush Wallet.
In conclusion, when you exceed the withdrawal threshhold in your Paytoshi Wallet, your bitcoins will be sent to your Rush Wallet and you can spend them as you see fit. I recommend setting up other wallets elsewhere and practicing the transfer of funds back and forth until you get familiar with the procedure.
By Frank Rummel
Topic: A Bitcoin Primer (Are You Ready Get Started With Bitcoin?) (Read 380 times)
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