Nice initiative.
Let me add some questions:
How can I get free bitcoins?
How can one mine Bitcoins? What are the investment returns?
Will bitcoin become a mainstream currency, or will its popularity wane, and why?
How do you convert bitcoins to real money?
What determines the value of Bitcoins?
Why were Bitcoins created?
Topic: Common Q&A about bitcoin: non-technical edition. How much do YOU know? - page 2. (Read 1507 times)
April 23, 2018, 12:32:18 AM
April 23, 2018, 12:21:47 AM
Should I sell my house or take a loan for investing in bitcoins ?
The prices of Bitcoins are very volatile. If you are thinking about selling your house or taking a loan for investing in Bitcoins, this is not a good idea. If the price drops drastically, you will be in huge financial crisis. The prices of Bitcoins reduce by even more than 30-40% in single day. If you have invested borrowed money in Bitcoins, this can be very stressful. On the other hand, if you have invested only a fraction of your savings, it will not be a huge deal. Only invest the amount that you are ready to lose.
The prices of Bitcoins are very volatile. If you are thinking about selling your house or taking a loan for investing in Bitcoins, this is not a good idea. If the price drops drastically, you will be in huge financial crisis. The prices of Bitcoins reduce by even more than 30-40% in single day. If you have invested borrowed money in Bitcoins, this can be very stressful. On the other hand, if you have invested only a fraction of your savings, it will not be a huge deal. Only invest the amount that you are ready to lose.
April 22, 2018, 10:17:41 PM
I want to answer is bitcoin is legal? Bitcoin before the blockchain not created it is illegal because some of the users of bitcoin is from the deep web. It can use the bitcoin for payment in drugs and smuggle fire arms. It is also use in money laundry because the transactions cannot trace. But after the blockchain was created the deeb web do not use bitcoin for payment because the money laundry can be traced and it will make as a proof to be as a crime and go to jail. And now the bitcoin from anonymous converted into popular.
April 14, 2018, 08:58:27 PM
Common Questions & Answers about Bitcoin
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
A: [your answer here]
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
A: [your answer here]
Due to DEMAND and SUPPLY. First and foremost, let it be known that prices goes UP when there is more demand than supply, while prices goes DOWN when there is more supply than demand.
Back in 2009, BTC has no value, because there is no demand for it. It was reported that someone even tried to sell his 10,000 BTC for $50, but was not sold. Again because there was no demand for it and there's so much supply back then.
Today, lots and lots of people wants to get hold of BTC. There's so much demand while having limited supply that it's price rose from nothing to all time high of $17,900.
When someone buy or sell BTC, number of available supply changes. That's why prices vary from time to time.
April 14, 2018, 04:18:35 PM
Q: Is Bitcoin a scam? What about a Ponzi scheme?
A: [your answer here]
Q: Is Bitcoin a scam? What about a Ponzi scheme?
A: Bitcoin is not "scam" . Bitcoin - BTC, look like currency or asset - not as activity or any organization. Obviously, it is one of cryptocurrency which is most popular for make anonymous online payment. You can earning Bitcoin by mining, buy/trade, working, etc. So that, Bitcoin can make profitable or not is depend on your decision.
Ponzi scheme is the funding system who join after pay for who join before at crowdfunding or some collect funding format like that, Ponzi scheme does not creat any economic value, the person running it using the money and cash from people sent to people with high interest, and when they cannot paid, the system fall -> bankrupt -> Who join system after lost all their investment.
My answer maybe so obviously, hope it is enough.
April 03, 2018, 12:35:40 AM
I know this has been already answered but i believe I can add something important
Q: Will bitcoin make me rich?
Beyond the fact that the supply of bitcoin is less than the dollars of even gold and market capitalizacion. I think is determined by in partly by government
. I mean recently FBI are taking account about holdlers of Bitcoin and they are connected with government and they have taxes... Besides this there is a fact, the world has changed and the conditions that made possible that Bitcoin reach $18000 has gone. I mean this fluctuation of Bitcoins has the origin in regulations that before doesnt existed before.So basically the future value of bitcoin rely in the amount of people that is going to invest. But what people? Im principally referring to Latin American market in those underdeveloped countries the regulations are more weaker thant developed countries so people can invest and expect gain something.And not only they it depends on people awareness about cryptocurrency around the world
Sources:
https://cointelegraph.com/news/fbi-publishes-psa-about-tech-support-fraud-targeting-cryptocurrency-holders
https://www.coindesk.com/us-judge-rules-cryptocurrencies-are-commodities-in-cftc-case/
https://www.coindesk.com/colombian-financial-watchdog-joins-r3-blockchain-consortium/
Q: Will bitcoin make me rich?
Beyond the fact that the supply of bitcoin is less than the dollars of even gold and market capitalizacion. I think is determined by in partly by government
. I mean recently FBI are taking account about holdlers of Bitcoin and they are connected with government and they have taxes... Besides this there is a fact, the world has changed and the conditions that made possible that Bitcoin reach $18000 has gone. I mean this fluctuation of Bitcoins has the origin in regulations that before doesnt existed before.So basically the future value of bitcoin rely in the amount of people that is going to invest. But what people? Im principally referring to Latin American market in those underdeveloped countries the regulations are more weaker thant developed countries so people can invest and expect gain something.And not only they it depends on people awareness about cryptocurrency around the world
Sources:
https://cointelegraph.com/news/fbi-publishes-psa-about-tech-support-fraud-targeting-cryptocurrency-holders
https://www.coindesk.com/us-judge-rules-cryptocurrencies-are-commodities-in-cftc-case/
https://www.coindesk.com/colombian-financial-watchdog-joins-r3-blockchain-consortium/
March 30, 2018, 07:09:12 PM
Q: Is Bitcoin a scam? What about a Ponzi scheme?
A: https://pastebin.com/ZUxTmR99
A: https://pastebin.com/ZUxTmR99
Quote
1. BITCOIN HAVE LIMITED QUANTITY, IN DIFFERENCE FROM TULIPS, DOLLARS AND Ethereum
2. GOLD EXACTLY SAME A PYRAMID SCHEME AS A BITCOIN BUT ALREADY ABSORB ALL IN
2. GOLD EXACTLY SAME A PYRAMID SCHEME AS A BITCOIN BUT ALREADY ABSORB ALL IN
March 30, 2018, 07:06:31 PM
Let me try this one:
Q: Will bitcoin make me rich?
A: It depends. As we all know cryptocurrencies can fluctuate the value sincerely. Investing into it is a serious risk endeavor. If we'll invest in bitcoin and is smart enough to handle it and we know how to play with rules, then there is a big possibility that we'll become rich in the future. I've known some people who became well off but not all are successful , and because bitcoin is a global craze today, even a person not that knowledgeable about it, is buying btc and investing. For some reason, wisdom about cryptocurrencies is really significant.
Hodling btc for a long time will give us great benefits and good profits. So, at the end our victorious and prosperous are all depends on us.
Q: Will bitcoin make me rich?
A: It depends. As we all know cryptocurrencies can fluctuate the value sincerely. Investing into it is a serious risk endeavor. If we'll invest in bitcoin and is smart enough to handle it and we know how to play with rules, then there is a big possibility that we'll become rich in the future. I've known some people who became well off but not all are successful , and because bitcoin is a global craze today, even a person not that knowledgeable about it, is buying btc and investing. For some reason, wisdom about cryptocurrencies is really significant.
Hodling btc for a long time will give us great benefits and good profits. So, at the end our victorious and prosperous are all depends on us.
March 30, 2018, 01:01:04 PM
Q: Is Bitcoin safe?
A:
The algorithms and technical solutions that underpin the operation of Bincoin are absolutely safe. But the answer to this question depends on you personally. Just ask yourself. Is your credit card safe? Is Dollar, Euro or Yen safe? The water you drink, the air you breathe, is it safe? Is Car or Plane safe? Don't get on the plane if you doubt his safety. The same is with Bitcoin. Only your faith in Bitcoin will give the answer whether he is safe or not.
A:
The algorithms and technical solutions that underpin the operation of Bincoin are absolutely safe. But the answer to this question depends on you personally. Just ask yourself. Is your credit card safe? Is Dollar, Euro or Yen safe? The water you drink, the air you breathe, is it safe? Is Car or Plane safe? Don't get on the plane if you doubt his safety. The same is with Bitcoin. Only your faith in Bitcoin will give the answer whether he is safe or not.
This. Great answer. I often make comparisons between Bitcoin and fiat currency. I like to state that I trust the blockchain 100% more than I trust banks. I throw some personal opinion and speculation in there, as well, stating that if/when global currencies collapse, Bitcoin will be there to pick up the slack
Welcome to the forums, and enjoy your merit! I will add your answer to the top post.
March 30, 2018, 07:10:21 AM
Q: Is Bitcoin safe?
A:
The algorithms and technical solutions that underpin the operation of Bincoin are absolutely safe. But the answer to this question depends on you personally. Just ask yourself. Is your credit card safe? Is Dollar, Euro or Yen safe? The water you drink, the air you breathe, is it safe? Is Car or Plane safe? Don't get on the plane if you doubt his safety. The same is with Bitcoin. Only your faith in Bitcoin will give the answer whether he is safe or not.
A:
The algorithms and technical solutions that underpin the operation of Bincoin are absolutely safe. But the answer to this question depends on you personally. Just ask yourself. Is your credit card safe? Is Dollar, Euro or Yen safe? The water you drink, the air you breathe, is it safe? Is Car or Plane safe? Don't get on the plane if you doubt his safety. The same is with Bitcoin. Only your faith in Bitcoin will give the answer whether he is safe or not.
March 26, 2018, 10:25:52 PM
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
Before..., the value of bitcoin is too low because the its limited supply is higher than demand but last year (2017) due to its popularity high demand comes in and the value of bitcoin increase 1300% of its value from the start of the year and that why bitcoin now is too expensive.About affording a bitcoin a potential investor dont need afford 1 whole bitcoin, most of the people outside crypto world thinks that they cant invest on bitcoin because its too much expensive they dont know that they can invest even a $1, Almost everyone looks at its price first and if they cant afford the value of it their interest will suddenly lost. (like you see a new mobile phone released in the mall and you like it very much but you only have $500 in your pocket and the price of the phone is $1500 and you just leave..., but you did know that there is a installment process without interest). People sometimes afraid to ask.
March 22, 2018, 05:04:30 AM
Q: Is Bitcoin safe?
A: Bitcoin is as safe as any other asset as long as you safeguard it as much as you would anything else. Obviously the ways to keep it safe are different compared to traditional physical assets, but it is just as theft-proof (or not) as cash/cars/gold etc. The amount you own also reflects on how much effort you put into keeping it safe, same as the reason I wouldn't carry around $10,000 in my pocket, but happy enough carrying $50 for a night out.
Some quick tips.
* Only buy it from reputable exchanges (I like this review site, lots of options and graded on a number of factors https://www.bestbitcoinexchange.io/)
* Double (triple) check any addresses that you are sending it from/to - one wrong digit/letter and it's unlikely you will see it again!
* Store it in a cold wallet that only you hold the private key for access (https://trezor.io/ or https://www.ledgerwallet.com/ are two well established and trusted wallets, but there are more out there)
A: Bitcoin is as safe as any other asset as long as you safeguard it as much as you would anything else. Obviously the ways to keep it safe are different compared to traditional physical assets, but it is just as theft-proof (or not) as cash/cars/gold etc. The amount you own also reflects on how much effort you put into keeping it safe, same as the reason I wouldn't carry around $10,000 in my pocket, but happy enough carrying $50 for a night out.
Some quick tips.
* Only buy it from reputable exchanges (I like this review site, lots of options and graded on a number of factors https://www.bestbitcoinexchange.io/)
* Double (triple) check any addresses that you are sending it from/to - one wrong digit/letter and it's unlikely you will see it again!
* Store it in a cold wallet that only you hold the private key for access (https://trezor.io/ or https://www.ledgerwallet.com/ are two well established and trusted wallets, but there are more out there)
This is a great portion of the answer I was looking for; I'll be including a variation of your answer in the top post. Just a side note: I found it extremely ironic that the user that answered the question of "Is Bitcoin safe?" is named cryptothief
Q:Is Bitcoin safe?
The theft of a Bitcoin wallet requires malware to identify the wallet file on the user's computer, control it, and transfer the funds to another wallet. If these files are encrypted with a strong password, malware is less likely to violently enter the file and obtain the user's Bitcoin.
What about the security of money in your wallet? Just like the dollar pound, the security of your bitcoin depends on your vigilance. A victim of a credit card thief can terminate the use of a credit card or withdraw a fraudulent transaction. But Bitcoin is very attractive to thieves because the transaction is irrevocable. The theft of most Bitcoins is the result of inappropriate or poorly managed wallet security, which has caused hackers to steal private keys.
When bitcoin is stolen, in theory, it is possible to track them because every bitcoin transaction is open. However, shrewd criminals have the ability to systematically interfere with this process, making the process extremely difficult.
In short, protect your bitcoin's security just as it protects cash; you should always be vigilant about potential dangers and take every necessary step to protect your bitcoin's security.
The theft of a Bitcoin wallet requires malware to identify the wallet file on the user's computer, control it, and transfer the funds to another wallet. If these files are encrypted with a strong password, malware is less likely to violently enter the file and obtain the user's Bitcoin.
What about the security of money in your wallet? Just like the dollar pound, the security of your bitcoin depends on your vigilance. A victim of a credit card thief can terminate the use of a credit card or withdraw a fraudulent transaction. But Bitcoin is very attractive to thieves because the transaction is irrevocable. The theft of most Bitcoins is the result of inappropriate or poorly managed wallet security, which has caused hackers to steal private keys.
When bitcoin is stolen, in theory, it is possible to track them because every bitcoin transaction is open. However, shrewd criminals have the ability to systematically interfere with this process, making the process extremely difficult.
In short, protect your bitcoin's security just as it protects cash; you should always be vigilant about potential dangers and take every necessary step to protect your bitcoin's security.
I'm including a variation of your answer, as well. Thanks for taking the time to answer this.
I would like to answer this one since this was left unanswered.
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
A: Bitcoin is so expensive right now because the demand has grown to an exponential rate. But this did not start this way. There was a time when Bitcoin's price was less than a cent. In fact, the first purchase using Bitcoin was made by a man buying a $25-worth pizza with 10,000 BTC. Bitcoin's value is determined by its demand across the world. And if you cannot afford a full Bitcoin, you can always start with .5 BTC or .1 BTC or even a much smaller amount.
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
A: Bitcoin is so expensive right now because the demand has grown to an exponential rate. But this did not start this way. There was a time when Bitcoin's price was less than a cent. In fact, the first purchase using Bitcoin was made by a man buying a $25-worth pizza with 10,000 BTC. Bitcoin's value is determined by its demand across the world. And if you cannot afford a full Bitcoin, you can always start with .5 BTC or .1 BTC or even a much smaller amount.
This is getting much closer to the type of answer I'm looking for. I have a very specific way of answering this question that really helps to open up newbies' eyes and I have yet to still hear that type of answer. I'll use parts of yours to add to the top post. Thanks for taking the time!
Q: what is an airdrop?
I have never been asked this question when speaking to a newbie or stranger of Bitcoin.
I would like to add 2 more questions to your list. Because many of my friends and newbies ask them often.
Q: Why Bitcoin when we have international fiat currencies?
A: Because of many reasons.
1. Bitcoin is not controlled by any central authority.
2. Bitcoin is truly international. You can send Bitcoin from anywhere to anywhere at any time.
3. Bitcoin transactions are very fast and low cost.
4. Bitcoin transactions are peer to peer.
5. Bitcoin transactions are anonymous.
6. You can keep your money anonymously.
7. Bitcoin has no inflation.
8. The value of bitcoin is going up. So it is a good investment as well.
Fiat currencies are controlled and regulated by governments and banks. Fiat currency transactions must be done through a third party which takes more time, high service charges and government taxes. Fiat transactions have limitations, unlike Bitcoin transactions. You cannot keep fiat currency or do a fiat transaction anonymously because you are revealing your details to the third party(Bank). Fiat currencies have inflation unlike Bitcoin so the value of your fiat money is decreasing day by day. But Bitcoin has no inflation and the value of a Bitcoin is increasing day by day.
Q: Why Bitcoin when we have international fiat currencies?
A: Because of many reasons.
1. Bitcoin is not controlled by any central authority.
2. Bitcoin is truly international. You can send Bitcoin from anywhere to anywhere at any time.
3. Bitcoin transactions are very fast and low cost.
4. Bitcoin transactions are peer to peer.
5. Bitcoin transactions are anonymous.
6. You can keep your money anonymously.
7. Bitcoin has no inflation.
8. The value of bitcoin is going up. So it is a good investment as well.
Fiat currencies are controlled and regulated by governments and banks. Fiat currency transactions must be done through a third party which takes more time, high service charges and government taxes. Fiat transactions have limitations, unlike Bitcoin transactions. You cannot keep fiat currency or do a fiat transaction anonymously because you are revealing your details to the third party(Bank). Fiat currencies have inflation unlike Bitcoin so the value of your fiat money is decreasing day by day. But Bitcoin has no inflation and the value of a Bitcoin is increasing day by day.
I love this question! I'll add it, along with a variation of your answer. Kudos for adding such a relevant question to the thread!
Quote
Q: What is Bitcoin mining and who is a Bitcoin miner?
A: Bitcoin mining is the process of confirming a bitcoin transaction. When someone does a transaction there must be someone to confirm it. Miners is a person (a computer actually) who confirms a bitcoin transaction and write it in a public ledger.( This is like a book where all the transaction of bitcoin network is recorded). For doing this task miners charge a small fee and when confirming a transaction a small amount of new Bitcoin is created automatically and given to the miner. This is the way how new Bitcoins are generated.
All miners in the world are connected through the internet and that network is called the Bitcoin network. Their job is confirming the transactions.
A: Bitcoin mining is the process of confirming a bitcoin transaction. When someone does a transaction there must be someone to confirm it. Miners is a person (a computer actually) who confirms a bitcoin transaction and write it in a public ledger.( This is like a book where all the transaction of bitcoin network is recorded). For doing this task miners charge a small fee and when confirming a transaction a small amount of new Bitcoin is created automatically and given to the miner. This is the way how new Bitcoins are generated.
All miners in the world are connected through the internet and that network is called the Bitcoin network. Their job is confirming the transactions.
Honestly, I rarely get asked this question. I would say that out of the thousands of people I have had fresh conversations about Bitcoin with, this subject was only brought up by the other person twice. Additionally, Bitcoin mining includes more than just confirming transactions. This is where it starts to get technical, so I never really take my friends down this road until they understand what Bitcoin is first.
Hang tight, the top post will be revised tomorrow when I have access to my computer. For now, enjoy your merits! I'm enjoying how this thread is playing out. Keep it up, all!
March 15, 2018, 07:49:27 AM
I would like to add 2 more questions to your list. Because many of my friends and newbies ask them often.
Q: Why Bitcoin when we have international fiat currencies?
A: Because of many reasons.
1. Bitcoin is not controlled by any central authority.
2. Bitcoin is truly international. You can send Bitcoin from anywhere to anywhere at any time.
3. Bitcoin transactions are very fast and low cost.
4. Bitcoin transactions are peer to peer.
5. Bitcoin transactions are anonymous.
6. You can keep your money anonymously.
7. Bitcoin has no inflation.
8. The value of bitcoin is going up. So it is a good investment as well.
Fiat currencies are controlled and regulated by governments and banks. Fiat currency transactions must be done through a third party which takes more time, high service charges and government taxes. Fiat transactions have limitations, unlike Bitcoin transactions. You cannot keep fiat currency or do a fiat transaction anonymously because you are revealing your details to the third party(Bank). Fiat currencies have inflation unlike Bitcoin so the value of your fiat money is decreasing day by day. But Bitcoin has no inflation and the value of a Bitcoin is increasing day by day.
Q: What is Bitcoin mining and who is a Bitcoin miner?
A: Bitcoin mining is the process of confirming a bitcoin transaction. When someone does a transaction there must be someone to confirm it. Miners is a person (a computer actually) who confirms a bitcoin transaction and write it in a public ledger.( This is like a book where all the transaction of bitcoin network is recorded). For doing this task miners charge a small fee and when confirming a transaction a small amount of new Bitcoin is created automatically and given to the miner. This is the way how new Bitcoins are generated.
All miners in the world are connected through the internet and that network is called the Bitcoin network. Their job is confirming the transactions.
Q: Why Bitcoin when we have international fiat currencies?
A: Because of many reasons.
1. Bitcoin is not controlled by any central authority.
2. Bitcoin is truly international. You can send Bitcoin from anywhere to anywhere at any time.
3. Bitcoin transactions are very fast and low cost.
4. Bitcoin transactions are peer to peer.
5. Bitcoin transactions are anonymous.
6. You can keep your money anonymously.
7. Bitcoin has no inflation.
8. The value of bitcoin is going up. So it is a good investment as well.
Fiat currencies are controlled and regulated by governments and banks. Fiat currency transactions must be done through a third party which takes more time, high service charges and government taxes. Fiat transactions have limitations, unlike Bitcoin transactions. You cannot keep fiat currency or do a fiat transaction anonymously because you are revealing your details to the third party(Bank). Fiat currencies have inflation unlike Bitcoin so the value of your fiat money is decreasing day by day. But Bitcoin has no inflation and the value of a Bitcoin is increasing day by day.
Q: What is Bitcoin mining and who is a Bitcoin miner?
A: Bitcoin mining is the process of confirming a bitcoin transaction. When someone does a transaction there must be someone to confirm it. Miners is a person (a computer actually) who confirms a bitcoin transaction and write it in a public ledger.( This is like a book where all the transaction of bitcoin network is recorded). For doing this task miners charge a small fee and when confirming a transaction a small amount of new Bitcoin is created automatically and given to the miner. This is the way how new Bitcoins are generated.
All miners in the world are connected through the internet and that network is called the Bitcoin network. Their job is confirming the transactions.
March 15, 2018, 07:43:42 AM
Common Questions & Answers about Bitcoin
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
A: [your answer here]
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
A: [your answer here]
Due to DEMAND and SUPPLY. First and foremost, let it be known that prices goes UP when there is more demand than supply, while prices goes DOWN when there is more supply than demand.
Back in 2009, BTC has no value, because there is no demand for it. It was reported that someone even tried to sell his 10,000 BTC for $50, but was not sold. Again because there was no demand for it and there's so much supply back then.
Today, lots and lots of people wants to get hold of BTC. There's so much demand while having limited supply that it's price rose from nothing to all time high of $17,900.
When someone buy or sell BTC, number of available supply changes. That's why prices vary from time to time.
March 15, 2018, 06:51:37 AM
Okay i will answer 2 questions using less technical details.
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
A: Why gold is expensive? Because anyone cannot create gold, gold is rare to find, hard to mine and most of all gold has high demand so anyone who has gold will never sell it lower than the market price.
Same here, In Bitcoin.
1.Anyone can't create bitcoin on there own.
2.Bitcoin mining(Let's say finding new Bitcoins) is very difficult, expensive and time-consuming.
3.Limited supply.
4.Because of the high demand, anyone who has bitcoin is not ready to sell it lower than the market price.
The price is going up because the demand is going up.
You don't have to buy a whole Bitcoin because Bitcoin has many smaller units. You can buy some smaller units of Bitcoin.
Q: Is Bitcoin safe?
A: Yes perfectly safe!
The public key is like the identity number of your wallet. The private key is like the password or the unique key. Your wallet is public and transparent so it can be seen and checked by anyone if the wallet number(public key) is known. But only you can open it because only you know the password. This password is the one and only way to open the wallet. If you lose it you can not open the wallet. Anyone can open your wallet if the password is known because the wallet is public. Any thief or hacker can not guess the password because it is too long (64 characters). There is no any other way to hack the Bitcoin system. Unless you reveal your password to anyone you are perfectly safe.
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
A: Why gold is expensive? Because anyone cannot create gold, gold is rare to find, hard to mine and most of all gold has high demand so anyone who has gold will never sell it lower than the market price.
Same here, In Bitcoin.
1.Anyone can't create bitcoin on there own.
2.Bitcoin mining(Let's say finding new Bitcoins) is very difficult, expensive and time-consuming.
3.Limited supply.
4.Because of the high demand, anyone who has bitcoin is not ready to sell it lower than the market price.
The price is going up because the demand is going up.
You don't have to buy a whole Bitcoin because Bitcoin has many smaller units. You can buy some smaller units of Bitcoin.
Q: Is Bitcoin safe?
A: Yes perfectly safe!
The public key is like the identity number of your wallet. The private key is like the password or the unique key. Your wallet is public and transparent so it can be seen and checked by anyone if the wallet number(public key) is known. But only you can open it because only you know the password. This password is the one and only way to open the wallet. If you lose it you can not open the wallet. Anyone can open your wallet if the password is known because the wallet is public. Any thief or hacker can not guess the password because it is too long (64 characters). There is no any other way to hack the Bitcoin system. Unless you reveal your password to anyone you are perfectly safe.
March 14, 2018, 09:49:54 PM
Q: what is an airdrop?
It is the team of ico, the behavior of giving people tokens free of charge!
The effect of airdrop is obvious, raise the popularity of ico! Raise people's awareness of digital cryptographic currency!
It is the team of ico, the behavior of giving people tokens free of charge!
The effect of airdrop is obvious, raise the popularity of ico! Raise people's awareness of digital cryptographic currency!
March 14, 2018, 09:36:08 PM
I would like to answer this one since this was left unanswered.
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
A: Bitcoin is so expensive right now because the demand has grown to an exponential rate. But this did not start this way. There was a time when Bitcoin's price was less than a cent. In fact, the first purchase using Bitcoin was made by a man buying a $25-worth pizza with 10,000 BTC. Bitcoin's value is determined by its demand across the world. And if you cannot afford a full Bitcoin, you can always start with .5 BTC or .1 BTC or even a much smaller amount.
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
A: Bitcoin is so expensive right now because the demand has grown to an exponential rate. But this did not start this way. There was a time when Bitcoin's price was less than a cent. In fact, the first purchase using Bitcoin was made by a man buying a $25-worth pizza with 10,000 BTC. Bitcoin's value is determined by its demand across the world. And if you cannot afford a full Bitcoin, you can always start with .5 BTC or .1 BTC or even a much smaller amount.
March 14, 2018, 09:14:59 PM
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
A: This kind of question always annoys me. I see it for almost every coin and token eventually. So here goes:
Bitcoin is (practically) infinitely divisible. So is every other coin and token.
Bitcoin is worth roughly $10k/each right now. The maximum number of bitcoins is 21 million bitcoins. 21 million is a completely arbitrary number Satoshi Nakamoto decided was a great number. If Satoshi had decided to make 210 million bitcoins the maximum number of bitcoins, the price of each bitcoin would be roughly $1k/each. If Satoshi had choosen 2.1 million the price would be around $100k/each.
The thing is, you don't NEED a whole bitcoin to do anything. It's not like having a whole bitcoin makes any difference whatsoever in your ability to use bitcoin or transfer bitcoin. The price is irrelevant.
A: This kind of question always annoys me. I see it for almost every coin and token eventually. So here goes:
Bitcoin is (practically) infinitely divisible. So is every other coin and token.
Bitcoin is worth roughly $10k/each right now. The maximum number of bitcoins is 21 million bitcoins. 21 million is a completely arbitrary number Satoshi Nakamoto decided was a great number. If Satoshi had decided to make 210 million bitcoins the maximum number of bitcoins, the price of each bitcoin would be roughly $1k/each. If Satoshi had choosen 2.1 million the price would be around $100k/each.
The thing is, you don't NEED a whole bitcoin to do anything. It's not like having a whole bitcoin makes any difference whatsoever in your ability to use bitcoin or transfer bitcoin. The price is irrelevant.
In fact, Bitcoin frequently asked questions and answers, the Internet search for a bunch, but we can not understand the proper nouns in the explanation, which requires you to further explore, this part of the study can only rely on their own.
March 14, 2018, 09:10:02 PM
Q:Is Bitcoin safe?
The theft of a Bitcoin wallet requires malware to identify the wallet file on the user's computer, control it, and transfer the funds to another wallet. If these files are encrypted with a strong password, malware is less likely to violently enter the file and obtain the user's Bitcoin.
What about the security of money in your wallet? Just like the dollar pound, the security of your bitcoin depends on your vigilance. A victim of a credit card thief can terminate the use of a credit card or withdraw a fraudulent transaction. But Bitcoin is very attractive to thieves because the transaction is irrevocable. The theft of most Bitcoins is the result of inappropriate or poorly managed wallet security, which has caused hackers to steal private keys.
When bitcoin is stolen, in theory, it is possible to track them because every bitcoin transaction is open. However, shrewd criminals have the ability to systematically interfere with this process, making the process extremely difficult.
In short, protect your bitcoin's security just as it protects cash; you should always be vigilant about potential dangers and take every necessary step to protect your bitcoin's security.
The theft of a Bitcoin wallet requires malware to identify the wallet file on the user's computer, control it, and transfer the funds to another wallet. If these files are encrypted with a strong password, malware is less likely to violently enter the file and obtain the user's Bitcoin.
What about the security of money in your wallet? Just like the dollar pound, the security of your bitcoin depends on your vigilance. A victim of a credit card thief can terminate the use of a credit card or withdraw a fraudulent transaction. But Bitcoin is very attractive to thieves because the transaction is irrevocable. The theft of most Bitcoins is the result of inappropriate or poorly managed wallet security, which has caused hackers to steal private keys.
When bitcoin is stolen, in theory, it is possible to track them because every bitcoin transaction is open. However, shrewd criminals have the ability to systematically interfere with this process, making the process extremely difficult.
In short, protect your bitcoin's security just as it protects cash; you should always be vigilant about potential dangers and take every necessary step to protect your bitcoin's security.
March 14, 2018, 11:32:09 AM
Q: Is Bitcoin a scam? What about a Ponzi scheme?
No. During the economic crisis of 2008, existing financial systems and the form of money was shaken. Bitcoin comes up whose purpose is to create a peer-to-peer electronic cash system. It relied on a trust less network. The gold like properties of Bitcoin made it superior as compared to other currencies.
What's more, there is never a single party or person promoting bitcoin. In fact, profits were never promised. People can earn or lose money due to the extreme volatility of the price which is different from Ponzi scheme.
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
It depends on the market value and utility. For example, beautiful girls are usually asked out on many dates and Porsche cost lots of money because both of them are limited and precious in the market. The amount of BTC is limited and it can be used and payed for goods in the real world. More and more people know about it and become popular among people. Therefore, everyone wanted to own one and the price increased rapidly and become expensive.
You don't buy a whole BTC, fractions of bitcoin are ok for you. For example, you can buy 2.32 BTC or 0.0003 BTC.
Q: Is Bitcoin safe?
Yes, Bitcoin’s technology can be trusted so long as you know how it works.
It is more secure than most existing financial services, including legacy banking platforms, which has been compromised repeatedly by hackers.
Just keep the private key same as password for your wallet and don't let people see your private key. Bitcoin’s technology can help you to prevent from being stolen.
No. During the economic crisis of 2008, existing financial systems and the form of money was shaken. Bitcoin comes up whose purpose is to create a peer-to-peer electronic cash system. It relied on a trust less network. The gold like properties of Bitcoin made it superior as compared to other currencies.
What's more, there is never a single party or person promoting bitcoin. In fact, profits were never promised. People can earn or lose money due to the extreme volatility of the price which is different from Ponzi scheme.
Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
It depends on the market value and utility. For example, beautiful girls are usually asked out on many dates and Porsche cost lots of money because both of them are limited and precious in the market. The amount of BTC is limited and it can be used and payed for goods in the real world. More and more people know about it and become popular among people. Therefore, everyone wanted to own one and the price increased rapidly and become expensive.
You don't buy a whole BTC, fractions of bitcoin are ok for you. For example, you can buy 2.32 BTC or 0.0003 BTC.
Q: Is Bitcoin safe?
Yes, Bitcoin’s technology can be trusted so long as you know how it works.
It is more secure than most existing financial services, including legacy banking platforms, which has been compromised repeatedly by hackers.
Just keep the private key same as password for your wallet and don't let people see your private key. Bitcoin’s technology can help you to prevent from being stolen.
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