Forum glossary, dumb newbie with questions.

Xester

hero member

Activity: 994

Merit: 544

Quote from: 1urker on March 17, 2017, 12:21:12 AM

Hello all, newbie here, well... lurker for some time, I had bitcoins since last year and would had made a good profit if I didn't trade it to $ everytime BTC fell a little. =I

I did earn some money with dash by P&D, so maybe I'm getting the hang of it.

So I have some question that I can't solve by searching or using google because I don't think I'm getting the correct answer, so any help would be very appreciated, don't need to explain, links to the correct topic will do.

1. WTF is "masternode/node"?

2. WTF is Hash?

3. WTF is a Hard-fork?

4. WTF is ETF?

5. Why Scrypt is a bad code for digital currency?

6. What do you guys really mean by "trading" here? Is it buying and selling BTC with other members?

Thanks in advance!

(Mods, feel free to move this topic if in the wrong section and sorry for the incovinience).

Your questions numbering from 1 to 5 is a complex question and if I will explain it in detail it is very long and I will have a hard time typing. And so the only thing I will explain is trading and I will explain it in a very simple manner. When you say trade it means you want to exchange one item to another item, its just like buying a sugar, you trade your money for that sugar. But in terms of bitcoin you are exchanging your dollars for an amount of bitcoin. That bitcoin you have can be traded or can be exchanged with other alternative coins. In trading also we have also to be particular with the price we bought our items and the price of selling that way you are making profit.

1urker

newbie

Activity: 24

Merit: 0

Quote from: pooya87 on March 17, 2017, 12:37:58 AM

p.s. all your questions could have been answered with a simple use of google

Tought so too, but keep getting multiple answers for trading and nodes for example.

piloder

legendary

Activity: 966

Merit: 1006

https://en.bitcoin.it/wiki/Main_Page
https://en.wikipedia.org/wiki/Bitcoin
http://en.bitcoinwiki.org/Main_Page

Above pages will definitely help you to understand all the terms related to bitcoin. And rather than waiting for answers, just search about the terms you want to know in google. I am quite sure you will find all of the answers you want. Wink

pooya87

legendary

Activity: 3472

Merit: 10611

1) we don't have masternode in bitcoin (at least not that i know of). that is a term in Dash and possibly others: https://bitcointalksearch.org/topic/coins-with-masternode-1572363

2) hash is either referring to the result of a hash function (https://en.wikipedia.org/wiki/Hash_function) or it is referring to "hash rate" which is representing the mining power. also read: https://bitcointalksearch.org/topic/what-is-hash-rate-and-how-is-it-measured-204141 and https://bitcoin.org/en/vocabulary#hash-rate

3) hard fork is a radical change in the protocol/code https://en.bitcoin.it/wiki/Hardfork
in software development a hardfork is a change that is not backward compatible.

4) ETF = Exchange-Traded Fund www.investopedia.com/terms/e/etf.asp

5) have no idea, it is altcoin related!

6) it is usually trading on an exchange platform

p.s. all your questions could have been answered with a simple use of google
p.p.s. at the bottom left corner of the page there is a link called move topic, click and move your topic to "beginners and help" board.

HabBear

hero member

Activity: 1106

Merit: 638

No question is dumb.

Here's a good resource for you from Coindesk.com: http://www.coindesk.com/information/bitcoin-glossary/

You'll also find a lot of answers to Newbie questions in the Beginner's section of this forum.

Welcome to Bitcointalk!

1urker

newbie

Activity: 24

Merit: 0

Hello all, newbie here, well... lurker for some time, I had bitcoins since last year and would had made a good profit if I didn't trade it to $ everytime BTC fell a little. =I

I did earn some money with dash by P&D, so maybe I'm getting the hang of it.

So I have some question that I can't solve by searching or using google because I don't think I'm getting the correct answer, so any help would be very appreciated, don't need to explain, links to the correct topic will do.

1. WTF is "masternode/node"?

2. WTF is Hash?

3. WTF is a Hard-fork?

4. WTF is ETF?

5. Why Scrypt is a bad code for digital currency?

6. What do you guys really mean by "trading" here? Is it buying and selling BTC with other members?

Thanks in advance!

(Mods, feel free to move this topic if in the wrong section and sorry for the incovinience).

Topic: Forum glossary, dumb newbie with questions. (Read 562 times)