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Topic: Please Help Me Understand BitCoins - page 2. (Read 1444 times)

legendary
Activity: 1036
Merit: 1000
December 09, 2015, 12:04:01 AM
#6
Nice forum. I have read through a lot of it and I'm afraid I still don't understand BitCoins.

If anyone has any advice or suggested reading for a novice such as myself it would be greatly appreciated! Where do you buy them? Where do you keep them? How much is a BitCoin worth? Are they safe to buy/use? I would love to have a better understanding of the whole BitCoin scene so I can share my new found understanding with my friends at nodepositfoum.com. I get asked questions about BitCoins all the time and have to tell them I don't understand how they work enough to answer. Help?

Thanks in advance!

Where do you buy them?
Sign up at coinbase.com

Where do you keep them?
bitcoin wallet of your choice

How much is bitcoin worth?
It fluctuates a lot, currently $420 a coin

Are they safe to buy/use?
They are safe to buy/use as long as you exercise normal caution as you would cash

Read and read, and then read more to learn about bitcoins. No one can pound sense into you, you already have enough sense to know how to learn, either that or you are not cut out to be a bitcoiner.
legendary
Activity: 2142
Merit: 1065
✋(▀Ĺ̯ ▀-͠ )
December 08, 2015, 06:22:04 PM
#5
Where do you buy them?
from excangers, from users in bitcointalk but you should use an escrow to avoid being scammed...

Where do you keep them?
In wallets, there's online one like blockchain.info where you can control your private keys which isn't possible with coinbase or Xapo for example. There is paper, hardware, software wallets (bitcoin core or electrum)... You can search in the forums or the wiki for more informations

How much is a BitCoin worth?
You can check the price BTC/$ in preev.com (there is an option to see bitfinex alone or Bitstamp or btc-e) or coinbase.com or all-in-one here https://tradeblock.com/markets/btcc/xbt-cny/30m/

More information here https://en.bitcoin.it/wiki/Main_Page
legendary
Activity: 1652
Merit: 1043
Cypherpunk (& cyberpunk)
December 08, 2015, 06:04:20 PM
#4
Depends what do you want to know exactly? Are you a tech savvy person? Or you just would like to know "hey, when do I get rich?"

Imagine bitcoin as a train, and the blockchain is the rails. You have a train on top of rails. You can create more "trains" to  put on top of those rails.
sr. member
Activity: 336
Merit: 250
www.DonateMedia.org
December 08, 2015, 06:02:06 PM
#3
value ;

www.preev.com
legendary
Activity: 1193
Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
newbie
Activity: 1
Merit: 0
December 08, 2015, 05:41:03 PM
#1
Nice forum. I have read through a lot of it and I'm afraid I still don't understand BitCoins.

If anyone has any advice or suggested reading for a novice such as myself it would be greatly appreciated! Where do you buy them? Where do you keep them? How much is a BitCoin worth? Are they safe to buy/use? I would love to have a better understanding of the whole BitCoin scene so I can share my new found understanding with my friends at nodepositfoum.com. I get asked questions about BitCoins all the time and have to tell them I don't understand how they work enough to answer. Help?

Thanks in advance!
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