Topic: Am I too stupid for Bitcoin? - page 2. (Read 1533 times)

by driving the price up, all you are supporting is giving money to drug dealers who accept bitcoin.
remember this is a currency not an investment tool

What's the difference between the Address and the "Hash 160"

My blockchain.info account has 2 long lines of numbers and letters

I can't afford a dedicated computer; I can only use the one I already have.

I set up a blockchain.info account and created a wallet there; my address is 1MDDLKpLhtx8nnmbD3xE8Aqb6Rtxs5FtZJ

I have a Toshiba Satellite laptop with a 1.80 GHz Intel Celeron processor; it runs at ~5%-10% during idle time. How much money can I make if I find a reliable mining program?

best idea for start with BTC

just open free easy to use online wallet id on https://blockchain.info/wallet
anyways do not put too much money in online wallet

you always free to create more then 1 wallet for keep money in different wallets NOT all in one

thanks

As you get into Bitcoins, first secure your wallet. Use a dedicated computer if at all possible, or be sure to run virus scans frequently and don't be downloading music from Limewire (hehe, 2008) and make sure you encrypt your wallet and don't forget your password. Online wallets are generally less safe, so I'd recommend Electrum or the Satoshi Client, but keeping a reasonable amount of coin in the Blockchain wallet with a secure password and the before mentioned security, you will be alright. Second, trust no one with your Bitcoins. Think about the law of the wild west, and then remove the shootouts and fist fights, and your adversaries are hundreds if not thousands of miles away. If someone steals your money, chances are they are going to get away with it, so don't give them a chance. After your wallet is secure, you can get by just knowing how to send and recieve transactions. Make sure you set a transaction fee, and double or triple check all addresses involved before sending or recieving payment.

You will get the hang of it, what you can do for now, is get the basics down to prevent financial loss due to not knowing.

Also, always ALWAYS backup your wallets. Get a 1 GB flash drive or something, copy your wallet.dat onto it, and store it in a safe place. If you are going to be holding a lot of coins, more than one copy is advised, as long as its in a secure place.

http://bitcoin.org/en/choose-your-wallet
Electrum is probably easiest. I prefer Bitcoin QT.

For ease of use, consider getting a wallet at https://blockchain.info/wallet but remember that it is less secure than a desktop wallet, is more prone to exploits due to use of javascript, etc. But it is very easy to set up. Don't keep much funds on an online wallet, though. And stay away from 3rd party hosted wallets like Coinbase -- you don't control your bitcoins with them.

The problem is that I also followed a few discussion posts from people that seemed to know what they were talking about... and I ended up (involunatrily) lending an unreputable crypto trading site over $200 which they no doubt bought BTC with... TOLD me for the past several weeks I held 1.02 BTC worth over $1000 today... and then suddenly reimbursed me the $200 & took away my BTC.  I'm down about $900.  And there's nearly nothing I can do about it.

A couple of weeks later after spending DAYS online I was able finally to open a wallet and after working out an elaborate cash deposit through a credit union network - an option I don't think exists any longer for Cash Into Coins, the service I used (they turned out to be honest) I finally own about 1.5 BTC which I obviously paid more money for.

I also have almost 7 LTC, which I wanted to buy at about $2.50 & which had hit $28 by the time I figured out how.  In the final stages of actually obtaining LTC when I had gears in motion it went from $9 to $30!

I consider myself of slightly above average computer savvy-wise, and I've been scammed in one of three crypto buying attempts thus far, and it's taken WEEKS to figure out how to participate once I did decide to buy.

The honest BTC community has to figure out how to let average people participate with some confidence or this will never be better than an asset class for rich institutions, IF that much.

get electrum.. it's easy as it can get. if you have any questions, i can answer them for you. an easier or less secure way of getting a wallet is by going to blockchain.info ... it's as simple as registering for a gmail account.

Youll get used to it!
buy using an exchange or in person!

Sorry; do you mean wallet? I haven't been able to set up a Bitcoin wallet because I haven't been able to find a reputable, easy-to-setup/use wallet service.

post your address. i'll send you some bitcoin.

after my first few btc transactions, i started to become more and more comfortable with the system.. just get your feet wet and you'll feel more confident in what you're doing.

yeah man. the first 6 months i was interested in bitcoin i was convinced it was all a scam. ironically, the legitimate businesses are hard to find and difficult to get setup with. here's a list


campx.com -- bitcoin/usd exchange, USA

coinbase.com -- bitcoin/usd exchange, USA

bitdazzle.com -- basically like an amazon for bitcoin. site looks nice, but lacks functionality. they are rebuilding it to be more amazon like easy to use.

namecheap.com -- domain names and webhosting. the second most proffessional bitcoin business.

bitcoinstore.com -- electronics and technology. the hands down most proffessional bitcoin business, excellent customer support. i'm a repeat customer lol

wtcr.ca -- sells random goods, and bitcoin mining equipment.

gyft.com -- trade bitcoins for giftcards

cryptsy.com -- buy/sell altcoins for bitcoin. altcoins are siginificantly easier to mine than bitcoin.

coinex.pw -- altcoin exchange like cryptsy, but less volume.

there was a site called bitmit.net which was like ebay for bitcoins, but it got closed down due to compliance issues/hacking or some shit.

hope this helps

Its gets easy after a while, trust me.

localbitcoins can be anonymous for you.. and if you are in the U.S., you can use coinbase.. but you'd still have to wire money from your checking account.

first download electrum wallet and look up the tutorial.

Check out LocalBitcoins.com and you can buy bitcoins anonymously

or contact me ill explain everything

I'm starting to get frustrated/discouraged by my inability to just dip my toes in the world of Bitcoin or find any reliable, easy-to-understand answers.

I've been reading up and watching videos and tutorials for 2 days straight on Bitcoin, trying to figure out how to mine or buy my first fraction of a fraction of a Bitcoin, and I'm totally lost. All these Youtube videos and Bitcoin enthusiasts say "It's fun! It's secure! It's easy!" but there is nothing easy or intuitive about this (as in, I see a soda for $1.25 and I hand the cashier a $1 bill and a quarter, or I see gas for $3.50 a gallon, I pump 10 gallons and my balance on the credit card I swiped goes up $35)

But to get Bitcoin, I apparently (emphasized because there's no clear-cut answer) have to set up a wallet, then get a dedicated computer (or several dozen), then reprogram its/their graphics card(s) to mine, then I have to start generating hashes, then I start cracking hashes, then I have to start chainblocking, verifying transactions and maintaining ledgers and etc etc etc.

All that or I have to wire money to some shady-looking website in Europe along with photo ID or proof of residence; I thought the whole point of Bitcoin was to be anonymous. Why do I have to tie my personal info to Bitcoin transactions?

Am I missing something here? Am I too stupid for Bitcoin?