Topic: what are bitcoins ? 10 things you need to know (Read 1375 times)
Thanks, i'll passs this translated to my friends
this is the beginners section. he is hardly trying to educate the educated.
he is trying to educate beginners. if his q&a stops people from making threads asking those basic questions he has succeeded.
he is trying to educate beginners. if his q&a stops people from making threads asking those basic questions he has succeeded.
No, it's not the right place. He's trying to educate the educated.
To the OP you should buy some paper wallets and hand them out to friends, family, charities, or make a scavenger hunt about it.
There's a guy/gal on Twitter (@SFHiddenBitcoin) putting paper wallets around the city and then tweeting clues, all in the spirit of "spreading the gospel". It's good stuff, for sure.
To the OP you should buy some paper wallets and hand them out to friends, family, charities, or make a scavenger hunt about it.
There's a guy/gal on Twitter (@SFHiddenBitcoin) putting paper wallets around the city and then tweeting clues, all in the spirit of "spreading the gospel". It's good stuff, for sure.
This was copy pasted.
Yup, I believe it is copied from the page http://www.hongkiat.com/blog/bitcoin-questions/
I thought it as just a simple coin. not like some complicated crap that the op says.
This was copy pasted.
ookaaay I get the point sorry 
wrong place to paste this. should go to beginners and help section
No, it's not the right place. He's trying to educate the educated.
To the OP you should buy some paper wallets and hand them out to friends, family, charities, or make a scavenger hunt about it.
There's a guy/gal on Twitter (@SFHiddenBitcoin) putting paper wallets around the city and then tweeting clues, all in the spirit of "spreading the gospel". It's good stuff, for sure.
To the OP you should buy some paper wallets and hand them out to friends, family, charities, or make a scavenger hunt about it.
There's a guy/gal on Twitter (@SFHiddenBitcoin) putting paper wallets around the city and then tweeting clues, all in the spirit of "spreading the gospel". It's good stuff, for sure.
Interesting summary. But is it really the right place here?
people I need someone to guide me in this game "bitcoin-scratchticket"pleaaaaaaaaaase 
and I want to write a link for my signature but it's removing 
?
and I want to write a link for my signature but it's removing ?Sig link does not work for newbies... Please take your time to read the following...
- Newbie: No styling (including links) allowed. Max 40 characters.
- Jr. Member: Links allowed. Max 100 characters.
- Member: Unlimited length.
- Full: Color allowed.
- Sr. Member: Size allowed
- Hero: Background color allowed
Brand New: 0 posts, gets 1 gold coin under his name.
Newbie: (none), gets 1 gold coin under his name.
Jr. Member: activity: 30, gets 1 gold coin under his name.
Member: Activity: 60, gets 2 gold coins under his name.
Full Member: Activity: 120, gets 3 gold coins under his name.
Sr. Member: Activity: 240, gets 4 gold coins under his name.
Hero Member: Activity: 480, gets 5 gold coins under his name.
- Jr. Member: Links allowed. Max 100 characters.
- Member: Unlimited length.
- Full: Color allowed.
- Sr. Member: Size allowed
- Hero: Background color allowed
Brand New: 0 posts, gets 1 gold coin under his name.
Newbie: (none), gets 1 gold coin under his name.
Jr. Member: activity: 30, gets 1 gold coin under his name.
Member: Activity: 60, gets 2 gold coins under his name.
Full Member: Activity: 120, gets 3 gold coins under his name.
Sr. Member: Activity: 240, gets 4 gold coins under his name.
Hero Member: Activity: 480, gets 5 gold coins under his name.
people I need someone to guide me in this game "bitcoin-scratchticket"pleaaaaaaaaaase and I want to write a link for my signature but it's removing ?
and I want to write a link for my signature but it's removing ? This would be good on reddit on bitcoin for beginners or whatever that one page is called...
they can just put it on the FAQ section, which i think they do.
edit: the FAQ links to here. i think this link has more info https://en.bitcoin.it/wiki/Faq
This would be good on reddit on bitcoin for beginners or whatever that one page is called...
Very Good. U should have posted this on every internet forum except BitcoinTalk 
1. What Are Bitcoins?
The Bitcoin is a form of currency without notes and coins, it is a digital currency.
In this era of Internet and digitization, we’ve moved from phone to VoIP calls, face-to-face meeting to video conferencing, fax to email, cable television to IP TV, and the list goes on.
2. Who Developed The Idea Of Bitcoins?
The concept of Bitcoins was developed by Satoshi Nakamoto, who resides in total anonymity. He is said to be from Japan but his mail ID was from Germany, plus the bitcoin software was not available in Japanese. He developed the system and the Bitcoin software (that is used to run the system) in 2009 but disappeared into thin air in 2010.
The other developers of the system stopped hearing from him in 2010, and plenty of speculation turned up about his real identity. Some even suggested that his name was just a mashup of popular Japanese companies — SAmsung TOSHIba NAKAmichi MOTOrola. But what he created was definitely the fantasy of every tech guy in the world.
3. What Is So Special About The Bitcoin System?
The Bitcoin is a system which allows you to do anonymous currency transactions and no one will come to know about the payment or about all other info related to the payment, including who sent it, who received it, etc.
Satoshi did it by making the system – a peer-to-peer network – controlled by no central authority but run by a network of contributors and freedom enthusiasts, who donated their time and energy to this innovation. Essentially, people can do money transactions and no authority or organization will come to know about it.
Satoshi Nakamoto was so talented that he even solved the problem of double spending of digital currency in his system.
4. What Is Double Spending?
We can make many copies of digital data, e.g. people copy software and sell it as counterfeit or pirated copies. We may face the same problem with digital currency – one can copy the digital currency (let’s suppose USD10) and use it as many time as he/she like (as many notes of USD10).
Satoshi solved this problem by showing all transactions in a public list. Whenever a new transaction is made, its validity is checked by confirming from the list that the digital currency was not used before. This way, no one can copy the currency and use it for more than one time. It’s a simple but effective idea to stop double spending of the same bitcoin.
5. How Does A Public Listing Make Things Anonymous?
The public listing only shows the transaction ID and the amount of currency transferred. You will be anonymous in the system because you don’t need to provide any of your personal details like your name, address, email, phone number, etc. In comparison, when you use payment gateways like Paypal you have to give up all these personal details.
6. How Do You Use Bitcoins Then?
Bitcoins are kept in a digital wallet which you can keep in your computer, or on a website online, which will manage and secure your wallet for you. You can have as many wallets and bitcoin addresses (where you receive money from others) as you like.
What’s more, you can use Bitcoin software on top of Tor to prevent anyone from tracking your IP address – total anonymity guaranteed!
7. How Many People Are Using This?
At this very moment, 10.71 million Bitcoins are in existence, which is like 207.929 million USD worth! In fact, the Canadian government is working on their own crypto-currency, named MintChip. (a glance:)
mintchip
In one day, more than 45,000 transactions of a total of BTC 2.5 million (worth of USD48.5 million) is handled by the bitcoin network.
8. How Do I Acquire Bitcoins?
Using and getting Bitcoins is really easy. There are various ways to get Bitcoins:
‘Mining’
Currency exchange (bitcoin in return for Dollars or Euros) via bitcoin provider services like Mt.Gox
Providing services to others in return of Bitcoins
9. What’s Mining?
Mining is a process of extracting Bitcoins currency. Bitcoin mining is a business – most people mint Bitcoins to gain profit. Bitcoins are minted using a special software (known as Bitcoin Miner) which tries to find a new block in the chain of Bitcoin network.
bitcoin miner
Whenever a new block is found, its owner is gifted with 50 Bitcoins. Technically, a computer has to perform long and tough hash calculations to find a new block.
10. How Do You Spend A Bitcoin?
Spending Bitcoins is a bit easier. You can send Bitcoins to a person, buy goods, or donate to non-profit foundations who accept it, such as Wikileaks, P2P Foundation, Operation Anonymous, Free Software Foundation, Archive.org.
You can send Bitcoins to anyone once you know their bitcoin address.
For merchandise, you can buy products from merchants that accept Bitcoins. Example – BitcoinDeals.BTC
The Bitcoin is a form of currency without notes and coins, it is a digital currency.
In this era of Internet and digitization, we’ve moved from phone to VoIP calls, face-to-face meeting to video conferencing, fax to email, cable television to IP TV, and the list goes on.
2. Who Developed The Idea Of Bitcoins?
The concept of Bitcoins was developed by Satoshi Nakamoto, who resides in total anonymity. He is said to be from Japan but his mail ID was from Germany, plus the bitcoin software was not available in Japanese. He developed the system and the Bitcoin software (that is used to run the system) in 2009 but disappeared into thin air in 2010.
The other developers of the system stopped hearing from him in 2010, and plenty of speculation turned up about his real identity. Some even suggested that his name was just a mashup of popular Japanese companies — SAmsung TOSHIba NAKAmichi MOTOrola. But what he created was definitely the fantasy of every tech guy in the world.
3. What Is So Special About The Bitcoin System?
The Bitcoin is a system which allows you to do anonymous currency transactions and no one will come to know about the payment or about all other info related to the payment, including who sent it, who received it, etc.
Satoshi did it by making the system – a peer-to-peer network – controlled by no central authority but run by a network of contributors and freedom enthusiasts, who donated their time and energy to this innovation. Essentially, people can do money transactions and no authority or organization will come to know about it.
Satoshi Nakamoto was so talented that he even solved the problem of double spending of digital currency in his system.
4. What Is Double Spending?
We can make many copies of digital data, e.g. people copy software and sell it as counterfeit or pirated copies. We may face the same problem with digital currency – one can copy the digital currency (let’s suppose USD10) and use it as many time as he/she like (as many notes of USD10).
Satoshi solved this problem by showing all transactions in a public list. Whenever a new transaction is made, its validity is checked by confirming from the list that the digital currency was not used before. This way, no one can copy the currency and use it for more than one time. It’s a simple but effective idea to stop double spending of the same bitcoin.
5. How Does A Public Listing Make Things Anonymous?
The public listing only shows the transaction ID and the amount of currency transferred. You will be anonymous in the system because you don’t need to provide any of your personal details like your name, address, email, phone number, etc. In comparison, when you use payment gateways like Paypal you have to give up all these personal details.
6. How Do You Use Bitcoins Then?
Bitcoins are kept in a digital wallet which you can keep in your computer, or on a website online, which will manage and secure your wallet for you. You can have as many wallets and bitcoin addresses (where you receive money from others) as you like.
What’s more, you can use Bitcoin software on top of Tor to prevent anyone from tracking your IP address – total anonymity guaranteed!
7. How Many People Are Using This?
At this very moment, 10.71 million Bitcoins are in existence, which is like 207.929 million USD worth! In fact, the Canadian government is working on their own crypto-currency, named MintChip. (a glance:)
mintchip
In one day, more than 45,000 transactions of a total of BTC 2.5 million (worth of USD48.5 million) is handled by the bitcoin network.
8. How Do I Acquire Bitcoins?
Using and getting Bitcoins is really easy. There are various ways to get Bitcoins:
‘Mining’
Currency exchange (bitcoin in return for Dollars or Euros) via bitcoin provider services like Mt.Gox
Providing services to others in return of Bitcoins
9. What’s Mining?
Mining is a process of extracting Bitcoins currency. Bitcoin mining is a business – most people mint Bitcoins to gain profit. Bitcoins are minted using a special software (known as Bitcoin Miner) which tries to find a new block in the chain of Bitcoin network.
bitcoin miner
Whenever a new block is found, its owner is gifted with 50 Bitcoins. Technically, a computer has to perform long and tough hash calculations to find a new block.
10. How Do You Spend A Bitcoin?
Spending Bitcoins is a bit easier. You can send Bitcoins to a person, buy goods, or donate to non-profit foundations who accept it, such as Wikileaks, P2P Foundation, Operation Anonymous, Free Software Foundation, Archive.org.
You can send Bitcoins to anyone once you know their bitcoin address.
For merchandise, you can buy products from merchants that accept Bitcoins. Example – BitcoinDeals.BTC
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