So here we goes!
The BITCOIN FAQS
Q. What is bitcoin?
A. It is a cryptocurrency.
Q. What is a cryptocurrency?
A. It is a digital form of currency based on mathematical cryptography.
Q. What is cryptography?
A. It is a trustless system of using a network of computers to verify transactions by solving complex mathematical puzzles.
Q. What is bitcoin?
A. Have you not been paying attention?
Q. Help! I bought bitcoin last month/ last week/ three days ago/ yesterday/ an hour ago/ two minutes ago/ just now* and it's gone down loads. Help! What do I do?
A. You need to be patient. Prices move up and down, all the time, so you have to buy when you think the time is right and wait a bit.
* = delete as appropriate
Q. Will bitcoin go up?
A. It goes up and down all the time. Long term nobody can be sure exactly what will happen.
Q. Will bitcoin go down?
A. It goes up and down all the time. Long term nobody can be sure exactly what will happen.
Q. Will bitcoin make me very, very, very rich?
A. Possibly, after a very, very, very long time.
Q. What is a lambo?
A. It is a very expensive car made just for people who get rich with bitcoin.
Q. Does 1 bitcoin = 1 bitcoin?
A. Yes it does.
Q. Will the governments ban bitcoin?
A. They cannot. It's impossible. That was the whole point that Satoshi Nakamoto invented bitcoin.
Q. Who is Satoshi Nakamoto?
A. Nobody knows.
Q. What do you mean?
A. I mean, nobody knows. He, she, it, they are/ is an enigma.
Q. What's an enigma?
A. Look it up in a dictionary.
Q. Is now a good time to buy bitcoin?
A. Nobody can answer that for you. You should do your own research and decide if and when it is right for you.
Q. I am going to sell my car, my house, my wife/ husband/ kids* and put all the money in bitcoin. Is this a good idea?
A. No.
* = delete as appropriate
Q. Why not?
A. Have you not been paying attention again? The value of bitcoin can go up, but it can also go down, over different timeframes, and you may not get all your money back. So you may not get your house or you wife/ husband/ girlfriend/ boyfriend* back.
* = delete as appropriate
Q. I didn't want him/ her* anyway.
A. I see, well in that case ...
* = delete as appropriate
Q. Should I start new topics in the forum asking any of the above questions all over again?
A. No.
