Topic: Bitcoin for newbies like me (Read 532 times)

Thanks for the vital information passed down. Atleast more people will acknowledge it and it will served different purpose for people in the space. No information is a waste and all counts for important targets. The above information are correct and this piece of information will definitely help one to become more explore in the space. I know everything is gradual process but we should also speeds things up when it comes to the market since it waits for nobody.

The meaning and understanding of Bitcoin or crypto can be interpreted broadly and variously, depending on what activities you use Bitcoin for and what purpose.
If you look at the transaction method, of course what you are asking is correct, but there are other insights into Bitcoin activities that can be done.
For example: trading, investing and so on, if that's what you're doing, of course you need to learn a lot about trading methods or market analysis and you have to learn more deeply and in detail about Bitcoin, so that you don't lose.

My understanding is that studying this is highly recommended, as is the title of your topic.
Bitcoin For Beginners (Updated 2024), important to read.

Knowledge is very important before going into BTC investment, and if you lack the knowledge as a newbies, you will lose everything you have invest in BTC, which is the mistake some  newbies use to make in their investment.  

You will come across two seasons, which newbies need to know in their learning ground which are bear and bull season, and newbies must know how to use the tool to buy and sell from the market because if you want to buy from the market ensure bear run is on ground before you can buy, and if you want to sell your coins ensure the bull run is on ground before you can sell to make good profits.

Learn how to carry out research before investing in BTC, because you can confirm the information about the market price through your research, before you can take a final decision because there are some newbies who use to follow the information of social media to sell without carry out any research to know if it time to sell or not before marketing your coins.

Before starting any new Bitcoin investment, one of the most important things they need to do is to do a proper analysis of the market. You need to have the confidence to make the investment last, as you will see the price go up and down at times in the Bitcoin market. The more patience you have, the more successful you will be. Not only should you invest in bitcoins, but you also need to keep your bitcoin wallets safe. You will go to a point where you will find that you are very profitable from Bitcoin investment, but suddenly when you can't login to your wallet all the money will go to waste. So I would say for new investors, first of all keep your wallet secure so that you can recover it later, then start investing.

I think every newbie need to start investing with bitcoin reason is because the risk involve in bitcoin investment is very low compared to the risk in other coins like meme and most of the altcoins, also as a newbie not only to invest in bitcoin but you need to know how to hold bitcoin for long term investment, because bitcoin investment is all about been patient to hold on to it, that's if you want to get profited from bitcoin investment you need to learn how to hold it for Long, However you should know that bitcoin investment is not a get rich quick scheme.

For newbies make a DYOR before entering the crypto world not all the time you are seeing within the social media. Many newcomers would like to invest and after they make a mistake they will blame others or the market itself, which leads them to quit doing crypto. Next is to invest in security you are in the internet, tons of hackers would like to attack and stole your funds, if you have money to invest in crypto you can have an investment with a good wallet and secure your device, seek for the potential coin or the builder coin and make a plan with your investment, not all the time its in the top, possible you will get ride with the psychology of market.

1. Avoid installing apps from Google Play Store, if not the majority but most of them are fake. You better download a wallet from their website.
2. Double-check the address before sending as it was hard to expect to be sent back.
3. Indeed it is unpredictable that is why you need to trust and don't get affected by the ups and downs of the trend.

Generally, taking responsibility is our priority, and learning about Bitcoin first is necessary because this is the best way to protect our funds and less mistakes.

Perhaps you could help expansiate on what the miners mistake is about, just to keep our newbies and myself well informed too.
If ones country of residence gets to accept and regulate BTC and other cryptos, they may have no better choice than to use it to enable they transact efficiently.

Even many recent movies, bother along the subject of cryptocurrency and wallets and anyone who is a newbie here, has already been a step ahead of others who are still struggling to understand the concept of cryptocurrency out there.

Crypto currency investment is a kind of investment that one has a choice on the mode to adopt to earn their profits. As it is gaining weight, so also it's knowledge becomes available and easily understood to use.

Yes buddy I can see that as a newbie you have done your best research on understanding the Bitcoin environment/Ecosystem and you have shared these beginning-level tips with those who are new to the forum and crypto space. But I would suggest you that if you are also new to the crypto industry so keep learning as this industry has a vast amount of knowledge to learn so the best is that always keep learning from the sources as you can find a lot of information from the internet.

Along with this buddy keep reading those informative threads that other users share here on the forum as they also contain informative as well and this thing will help you to grow quickly. The point that you shared is good to understand for the newbies so that they can avoid the miner mistakes in the crypto space.

Everything you say is the first thing we have to know about bitcoin investment, because bitcoin investment is something that is very risky if you do not have adequate knowledge, especially about wallet security, this transaction error is a fatal error that can make your assets disappear instantly.

Additionally, perhaps you should add that since Bitcoin investments have high risks, you need to use cold hard cash. What is meant by cold money is money that will not be used in the near future or for daily needs. Because the purpose of using cold money is so that you do not increase the risk of investing when asset prices are falling. When the price goes down, don't panic and rush to sell because there is still a chance it will go up again. That way you can be more patient and not rush when making decisions

You're right. Bitcoin never guarantees security, it also never guarantees for profits. For the security reason, we must understand how to manage the key phrase of the wallets and know where the best place to store Bitcoin. So far, non-custodial wallet is a better place for storing Bitcoin because we have a control of the wallet. But if we can't manage the private keys in a proper way, we also can lose the Bitcoin if we lose the private keys data.

Bitcoin is a legal tender in El Salvador. Sure, it can be a payment tool in El Salvador. However, it doesn't mean Bitcoin is the only payment tool there, El Salvador still uses Dollars for the payment tool. Anyway, I think we can't claim El Salvador be a rich country when we have no data about this. Also, we don't if they succeed or not in Bitcoin investment.

1.Bitcoin is a digital decentralized currency that was invented by an unknown inventor that bears the name Satoshi Nakamoto in 2009.
2.It was created for financial freedom
3.The Bitcoin Blockchain network is transparent
4.The Bitcoin Blockchain network uses the proof of work to secure and verify transactions.
5.Bitcoin transaction is irreversible

And the possibility that the recipient will return it back to the initial wallet sent the BTC is very small. Because sometimes, we may not realize how much BTC we have in that wallet at that time. Unless it is a large amount, then it will be a really confusing one, whether to keep it without caring about the sender's feelings or immediately return it with a transaction fee deducted. So I thought, what would happen to us if we experienced the same thing, receiving transfers from unknown wallets for quite large amounts?

So, this is clear, whoever, we must be careful when sending Bitcoin or even altcoins to certain wallet. doing double check to the wallet address several time before clicking the transaction is a must. no need to hurry up in careless ways.

Just like on my enagra. Honestly, Bitcon is indeed legal as an asset commodity, but illegal if used as a payment transaction tool. However, if it is related to taxes, yes, we cannot escape taxes. and we are even obliged to pay taxes directly when we trade on local exchanges which are under the regulations of our government.

That transaction was not confirmed, Bitcoin transactions is not reversible once it has been confirmed and added into a block, but if it is still unconfirmed and in the mempool, then you can double spend the transaction by using the same input in another transaction that pays a higher fee, and send it back into your address.

Bitcoin unconfirmed transactions can also be purged out of the mempool if numerous nodes drop the transaction or it can turn "Local" if the node/server you are connected to drops the transaction, then you can be able to spend it again in another transaction.

Bitcoin does not guarantee security for you, as long as you are able to maintain the seed phrase properly and store it in a safe place, the Bitcoin stored in your wallet will be safe. So the security of Bitcoin stored in your wallet is your responsibility.
As far as I know, El Salvador has adopted bitcoin as a legal means of payment and became the first country to officially accept Bitcoin as a means of payment since September 2021. El Salvador policies made them the richest country, this is a significant change for Bitcoin's reputation since it was launched to the public.

We have a lot to learn as newbies, I make research and I also navigate the forum, most times I don't post I just take my time and follow up threads and read posts made by senior colleagues here,  and I must say am actually gaining alot of knowledge, there are also some short forms like DIP, HODL, ATH, DCA and the rest that I have come to be familiar with I'm my cause of reading and making research, so we just have a lot to learn and with time grow to be like them.

1. every biginners must  also know that Bitcoin is best performanced when view on long term perspective.

2. You must have a source of income

3. You must understand your risk tolerance level

4. You must know and understand how much of your discretional/disposable income

5. Prepare you emergency funds

6. You must take care of your personal needs

7. You must be self convinced that Bitcoin is a coin that is worth investing on by not getting involved because it ai what everyone else is doing or talking about.

8. You must only invest according to your financial situation by not doing more than yourself.

9. You must be patient enough to achieve your investment goals and objectives by staying focused and determine.

Securing your wallet is the first lesson for anyone who wants to learn bitcoin. They can find many ways and practice them.
But before everything is done, beginners need to learn first what Bitcoin is and other things so that they are not confused and know what they want to do. By seeking more correct information, his knowledge about bitcoin will also increase and that will be useful for him.
The more someone learns about bitcoin, the more they will understand how to use bitcoin well. He can also have an investment in bitcoin as something valuable for his future. Don't immediately believe offers to invest in other programs because investing in bitcoin requires a wallet and storing it in that wallet and not in programs like that.

I think there are ways to recover coins mistakenly sent to a wrong address and also stollen coins but I actually don't know how legit those services are. The best thing is to be very careful when sending out coins by checking and reconfirming the address. Even with our traditional banking system, if you mistakenly send money to a wrong account number, you can not just get it recovered without the consent of the person. In crypto, you can hardly know the person behind the wrong address you send your coins to before thinking of talking to them for reversal. Only few people will be considerate to return such coins.


Price of bitcoin does not increase day by day, it's a mixture of both downtrend and uptrend market on a daily basis. If it only increases day by day, Bitcoin price would have reach millions of dollars by now. Don't FOMO and end up investing in bitcoin blindly just because you think it price increases daily. There things to know about it before you choose to invest your money in order to avoid regrets in the end. Bitcoin is actually a good investment for those who understand the risk involved and ready for it.

Adequate knowledge of Bitcoin is very important before a person will embark on it's investment or trading, because as some members have noted on this thread, many people believe that Bitcoin is a get rich quick scheme, and that is why they're scammed into buying shitcoins, thinking that all cryptocurrency is Bitcoin. I've seen adverts on social media in my country advertising Bitcoin mining gadgets that if you want to become a millionaire within months that you should contact them, and these scammers are scamming people that don't have Bitcoin knowledge everyday. Knowledge is power to achieving greatness.

That is because your transaction was not confirmed, it was pending for 7days because no enough transaction fee and it didn’t go through, once your payment goes through it cannot be reversed unless the receiver is a good person and decides to send it back. This is to say that carefulness should be considered when inputting addresses,in order to avoid been in such situations.

I think Bitcoin is a very good cryptocurrency.  Bitcoin does not compare to other cryptocurrencies.  Bitcoin is very valuable to everyone whether you are new or old.  Those who managed to hold on to Bitcoin around 2012-13 are now profiting.  Many may be regretting now.  Because the price of Bitcoin is increasing day by day.

From my little experience, I must confess that Bitcoin transaction is actually reversible, but that is if only the transaction fee is not enough so as to enable it have a slot in the next consecutive blocks, because I have had a transaction which got reverse before, after staying pending for over a week and on the 7th day It was cancelled due to low fee to grant it's space in the Bitcoin blocks.

But that can only be possible if Bitcoin is regulated in that country, because if Bitcoin is not regulated, it will be very hard for it to be taxed.

If the person decided to send it back then the amount won't be the same as before if the person who is going to send it back deduct some btc from the amount that the person received for transaction fee. I am sure you get what I mean that if you sent 1 btc to me by mistake and I decided to return it then it won't be 1 btc that you will receive unless I spend my own money to return exact amount that you mistakenly sent to me (that depends on the person but for me, I'd rather not use my own funds just to return the btc after all, it isn't my fault for sending it to the wrong address. Regarding the explanation above, it is important that you should always triple check the details before sending.

Mr. Andreas Antonopoulos, I’ve heard about him, they call him the Greek bitcoin guy because he talks about bitcoin. I’ll check him out, thanks for the mention

Yeah..some persons today do depend on people research and  that is one of the things that failed some of bitcoin investors because they basically rely or depend on information extract by someone else..if you what to scale through in cryptocurrency investment and mostly in bitcoin and some of the potential altcoins you have to make a research and compare your research with any other person that you think that he or she the information will yield positively to what you think that will elevate you.

Bitcoin is indeed a currency in El Salvador but it is not the only currency as it is existing side by side with fiat the Salvadoran Colón (SVC). Another country that have legalized Bitcoin is Central African Republic (CAR), here it is also existing together with their local currency. So I support you that Bitcoin is now a currency in some countries even though they did not replace their fiat with Bitcoin. Assuming it were today that country like Zimbabwe abandoned their currency, they would have simply adopted Bitcoin instead of the confusion they had allowing their citizens to use any foreign currency.

In many countries where Bitcoin is banned, it is still being used secretly. I remember China and Bangladesh all not being friendly with Bitcoin yet people still find their way to use Bitcoin. Recently Nigeria have joined them yet people are still using Bitcoin in large volume. There is really little the government can do in stopping the total usage of Bitcoin.  

Before starting anything that has to do with crypto investment, we must make sure that we have already secured a certain learning ground for ourself, this will help us have various ideas in knowing what next to do and what to avoid doing, but its a pity that many of the newbies does not go through the required learning process before investing, and such occurs along the line that they cant withstand any market challenge, while some often fall a victim to scam because they don't understand how to prevent such from happening.

It is most important to be cautious in any aspect, here we are going to be the most cautious when it comes to Bitcoin transactions. Because once you move to another address by mistake, it is impossible to go back, so you should keep calm and complete the transaction only when you have enough experience. I certainly support your rules and find it most important to try to follow them.

In my opinion, long-term investment is not suitable for beginners. Knowledge is important for beginners, it provides a broad picture of the investment they will make.
but to make long-term investments not only requires knowledge but also experience. and experience that beginners rarely have, although they can get it from the experience of others.

I think beginners would be better off investing in the short term or medium term. because beginners still tend to panic more quickly about market conditions, they must take advantage of the profits they get, even though they are small. it is to give novice investors experience with the market. To be able to withstand the long term, beginners need a good experience process.

Take note so you don't make mistakes, it is not a bad idea to listen to the opinion of others but the most important thing to do is to always verify every information to be true before making use of it. There are useful informations online and in social media but based on the level of scams that has been experienced by people that is why doing a personal research before doing an investment is mandatory.

Having knowledge in bitcoin before investing helps to reduce the risk of in losing money so no matter the nature of the investment, master what you want to invest on, learn from others first before doing your research and focus on a long term investment especially for newbies to avoid panic when the market is not going well as you predicted.

Security of your funds is very important, in fact you might have thousands ,Millions and Billions in crypto and not have anything if you didn't take security measures seriously, because scammers can run you down at anytime when you didn't properly secure your funds, As a Bitcoin enthusiasts, You should first learn how to store your funds safely, and secure it from possible scammers,and this is something we shouldn't even play with as we take charge of our funds in the digital space and this revolution of money.

You are a newbie, still new to all these am I right? I think you should not focus on what you know already, instead try looking out for what you don't know, there are many things a newbie need to know about how to keel their wallets safe.

Also there are different type of Bitcoin wallet, while some are not a good idea for storing your Bitcoin.

There are closed source bitcoin wallet, and also online Bitcoin wallets, these type of wallets are bad for storing Bitcoin.

If you don't know this already I suggest you should start looking forward into learning more about Bitcoin before you can consider yourself as someone who can teach others.

The best Bitcoin wallets are those that are noncustodial and also fully open source, for example Electrum and Trezor hardware wallet.

Good, you are also a newbie but you have already known some things about Bitcoin, this is how every newbie should learn not in any other way than coming to the forum and asking about how to get merit and how to make money in the forum, the one that I will said you should take very important serious and important is number one, which stated that you have to secure your wallet, secure your wallet is very important and before investing in bitcoin or buy bitcoin you should have a very secure wallet that no one will have access to it except you, another person having access to your wallet is a problem is not safe.

Secondly, number two stated that you should know the transaction is irreversible once you confirm unless the receiver decides to send it back. No matter how lazy you are pls try to check on your transactions before confirming them, this day, you will find it difficult to have someone who is God fearing and return your coin, it will be difficult with this kind of hard economy, during the transaction process make sure the wallet address is correct before you went and send the coin to another person because if you do that’s the end of the coin.

If it is big business or just medium one, it is true and feasible for them to receive Bitcoin in their business payments from customers. If it is small or very small business, business entrepreneurs will see this payment method is harmful than helpful.

Is it what Legal tender about?

If people want legal tender, they must know what it is and what they will have to obey if Bitcoin is legal tender in their country or the globe.

Not all El Salvadorians support Bitcoin but Bitcoin already became legal tender in their country years ago and they have to deal with it.

Most Newbies join cryptocurrency without really knowing much about it thinking it is something they can venture into without actually learning about it and make quick money from it, and that is the mistake they make which is why most of them lose a lot of money at that time. Because people make money from cryptocurrency doesn’t mean it is that easy, ask them how much knowledge they acquired before making money from it and you will understand it requires lots of time and effort. My advice for newbies is to not skip the learning process as it will come in handy for them and will help them in their journey.

This is also an important step in the crypto world because scammers are everywhere looking around for victims who fail to secure their wallets properly. Wallet security is very important because they hold your crypto assets and without securing it properly you risk losing your assets and when lost you are not an investor anymore and your goal of profiting from your investment will end. Your crypto assets is the most valuable thing so securing where they are stored should be your first priority to keep it out of reach for scammers.

All these are things you know as you are learning about bitcoin and that’s why it is important to always double check the receiver’s address before making transactions. A single mistake will make you lose your coin and there is no way to recover them unless the recipient decides to send back as Op has stated.

To achieve this one needs to study alot about bitcoin to understand its behavior properly and the market movement and how the market gets manipulated at times. Bitcoin’s volatility makes it difficult to predict it movements but with a lot of studying you can actually get better at predicting it next movement.

In General one cannot escape learning and studying bitcoin if they truly want to succeed in cryptocurrency because alot need to be learned to increase the chances of success in crypto.

Newbies can try with other resources to learn about Bitcoin, for average joe.

Learnmeabitcoin.com for beginners. It has an advanced page too.
Bitcoin information & resources

With newbies, learning about security is important too.
Security checklist

You need knowledge to succeed in the crypto space because even though transactions are visible on the blockchain, only someone with basic understanding of bitcoin and blockchain will know how to use block explorers to track transactions. I think every newbie looking to learn more about Bitcoin should follow Andreas Antonopoulos. His content is very interesting and simple to understand.

That's one thing that the nocoiners think about Bitcoin, it's a rich quick scheme. Those that don't do research think that's how people make money from here.

That, upon investing in Bitcoin, profits shall come asap. But no, it's the same in the real world that money don't grow in the trees and so with that expectation, from a newbie like you needs to be patient and research as much as you can at most times.

Yes thanks for your input especially the get rich quick scheme, people think once they get into bitcoin they’ve made it and they want it quick so they can flex before their peers and this mindset often leads to greater loss.
One has to be careful, patient smart and very informed. There’s nothing free even in free town and as such you have to work for your money and make wise investments.

Good advice, doing your own research and depending on your knowledge and not the advice of others most especially random online forks is a risk, that is why we have to accept the fact that before investing in bitcoin both for long term or short term base is best to invest more of that time in research and gaining knowledge about how the market works and what are the way to reduce the risk that come along with bitcoin investment.


Bitcoin as an investment and asset need to be studied by the investors so that they can make informed decisions along the lines.

Knowledge of bitcoin or any other investments fortifies the individual to be confident about their investments. In the hierarchy of things knowledge comes first then, investments and then diversification. And getting knowledge is so easy in today's world that we have no excuse for making a bad investment decision.

Absolutely right. The internet is full of lies and very deceptive people who want you to invest in their projects or whatever. And as soon as the individual does, their whole investments are wiped out. Anyone who does their own research will easily spot the lies and see a patter thereby avoiding a costly mistake.

I do see you have covered some points and other forum members have added further like El Salvador's legalization of Bitcoin. But the most important thing which is basic of Bitcoin is people should know why it was created ? It was created for decentralized P2P transfer without any third party's involvement be it bank or financial institutes but not it has been used as a mere investment scheme hence educating newbies on basics will be important.

Actually you are making a point from your article but the thing is that sometimes majority of people who is into cryptocurrency investment or bitcoin investment is not supposed to obtain or adhere to any information that she online it is better and Wise for anyone who come him into cryptocurrency investment to make it on research without depending on research of anyone before investment, I'm not talking to you as a beginner but I am talking to you based on my observations towards investment because there is every tendency that you are already existing in this platform before now because your point you made is not actually want of beginners because you have the experience.

I mean this was really necessary for a lot of new traders for sure to have some knowledge before even starting doing invest in cryptocurrency, you don't really want to put money on something that you don't really have any idea right, it would actually going to be a huge disaster for sure if your going to do that and your end up losing a huge amount of money in the end. Knowing what is Bitcoin is probably going to be the basics, then learn about the wallet, and the whole cryptocurrency space if possible, then you could proceed probably on how you are going to trade, or profit on your trading, like analysis, prediction, etc.

Your lucky actually you are here in the forum, there you go you anything that you don't have any idea just ask it here in the forum, a lot of experience members are here in the forum that could easily help you with your problem and issue about cryptocurrency, your not going to have any issues for sure, learn form other mistakes.

In addition, bitcoin can be used as a store of value and as an investment tool. Don't Invest in bitcoin with the belief that it will make you rich in the short term. Invest because you believe in the future of digital currency that it is better to have your assets or money stored in bitcoin than have it kept in the bank, that it will lose value over time.

1. Bitcoin is not a get rich quick financial investment. In other words, it's not a ponzi scheme that newbie investors should be expecting to make profit so short.

2. As a newbie try to eliminate greed if you will want to stay long and profitable in this industry. Scammer prey easily on greedy investors as they are easily caught up in the net of scammers when out of greed they jump into an offer that is too good to be true. Example: (offers that promises a 100% ROI).

3. Avoid free money. There's no free money anywhere in this crypto space, it's either you render a service for money you earn or you execute a task or in anyway worked for it. A lot of persons has lost the little sum they had in pursuit for free money online, don't add to the number as a newbie. Etc.

Stay safe

It seems that a lot of people think that Bitcoin is legal tender in the CAR, but that idea has long ceased to be a reality, which is not surprising considering the economic/financial state of that country.


This is certainly one of the best pieces of advice that can be given to any beginner. First, you need to familiarize yourself with what you are going to invest in, only then start with small amounts, and of course never invest more than you can afford to lose.

Ohh thank you Sir, I probably didn’t know about it, that’s why we get to learn everyday.
Now I’ve read about it, there’s also Central African Republic. Thanks for your input.

Businesses want to maximize profits however the cash flow is coming in. They can set up a payment processor, converting Bitcoin to fiat immediately the payment is made. This is what most businesses, which do not want to hold Bitcoin but still want to give a option to those who use it, do.

My reservation with El Salvador is the citizens being forced to use a particular service to use Bitcoin. That's not the freedom Bitcoin is about.

There are two nations where Bitcoin is legal tender and El Salvador is one of them. Another country is Central African Republic.

https://coinmarketcap.com/legal-tender-countries/

Not all citizens in a country where Bitcoin legal tender, feel happy if other citizens use Bitcoin as a payment method. They have to accept it because of legal tender status but they can feel unhappy if they are not ready to hold bitcoin for a while, can not bear on chain transaction fee and some other things.

Only citizens who are Bitcoin investors can feel more comfortable and happy with Bitcoin legal tender status in their country.

Op, don't forget to get knowledge first before embarking on Bitcoin investments or any other investment else you will end up gambling with your funds, remember to always invest with your spare money because Bitcoin investment is not like Ponzi scheme where you invest today and expect to make ×5 of your investment capital. Always do your own research and don't believe every information you see on the Internet because the media has always been against the progress of Bitcoin, remember to keep your seed phrase as a secret there should be no room for a third party to your seed phrase.

One small correction is that Bitcoin is the currency of El Salvador at the moment, so at least one country uses it as a legal tender.

This doesn't however matter much cause Bitcoin does not need legal approval from governments to function and those taxing it see it as an asset or a commodity.

For those of us who are new to the world of Bitcoin and cryptocurrency ;

Bitcoin offers a new and improved way of transaction and before getting into it, you should keep your self highly informed

Before going into bitcoin what you should know:
1. You have to secure your wallet: it is very important you protect your funds and transactions. Bitcoin provides you with strong security measures when used correctly.
2. You should know that bitcoin transactions are irreversible once confirmed unless the receiver decides to send it back.
3. The Price of bitcoin is unpredictable though certain conditions, news and information when utilized well can help u make proper predictions
4. You should know that despite bitcoin not been any countries currency, some countries might still attach tax and other commissions.
5. Bitcoin transactions are recorded in a ledger known as Blockchain and its made public to users, as such lies can’t be told Concerning a transactions.

The more experienced members should share or add more informations concerning bitcoin on this.