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Getting started - Bitcoin
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Bitcoin for Beginners
Bitcoin for Beginners is a subreddit for new users to ask Bitcoin related questions. **Do not respond to strangers direct messaging you, as over 99% of these people are Scammers.** This subreddit allows open discussion where peer review occurs. /BitcoinBeginners is not for posting new websites, memes, faucets, affiliate links, news, concern trolling, blog articles, or promoting altcoins and ICOs. **Bitcoin related Questions only** No url shorteners (auto spam)
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
/btc was created to foster and support free and open Bitcoin discussion about cryptocurrency, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more.
Why does Bitcoin use math and not something else to conduct transactions?
This is a purely theoretical question about the design of the technology (disclaimer: I do not know much about tech/engineering or anything). Why is math used to validate transactions on the network? What is the significance of the math itself? Is it just the case that math problems have universal answers and are solved in the same language worldwide (opposed to other languages like English, German, etc that not everyone speaks) and as such math makes for a good code? (If so, couldn't the designers of Bitcoin have made this code something else like problems of formal logic instead of math?) Or, is it the case that math actually does some specific function that only math can do? TLDR: is the math used to validated transactions: because (a) it is an arbitrary phenomenon that logistically works or (b) because the specific equations actually do something or (c) something else?
Serious question about bitcoin use in 30 years - If bitcoin stabilizes and becomes a deflationary currency, what will incentivize you to ever lend your bitcoin to a new small business owner?
If the rate of deflation is such that the value of your bitcoin increases a certain percent every year, let's say 15%, why would you ever bother lending bitcoin to new small business owners? I'm curious how the economic system would work in this situation. What would it actually look like? Is this just a case of higher interest rates for lending out bitcoin? For example. If you can get 15% through deflation without lending your money, then you would need to lend out at a high enough interest rate so that your return would exceed the automatic deflationary increase of 15%? Is that the basics of it? So the interest rate of borrowing bitcoin would effectively always be related to the deflation of bitcoin and the inflation from new supply. Whatever that balances out to? (Assuming overall demand has somewhat stabilized through the economy by then so you don't get huge price swings.)
This post was originally published on this siteThis post was originally published on this site As the COVID-19 pandemic pushed the Egyptian economy into recession and deepening unemployment, more and more Egyptians see the benefits of trading and mining Bitcoin as an alternative source of income. According to Al-Monitor, many Egyptians, particularly young people, are interested in cryptocurrencies. Wael al-Nahhas, an economist […]
Fiat is Trash: A Simple Way to Understand Bitcoin's Use Case
I used to hear Bitcoiners say Fiat is trash. I just got the chance to experience it first hand. Before COVID NGN370 = $1 Today's Rate NGN470 = $1 Many became poor right in front of their eyes, and without even knowing it. Bitcoin is an excellent hedge against currency devaluation such as the one that has rocked Nigeria since the COVID-craze started. That is the use case!
09-23 17:25 - 'Sats giveaway! But you gotta be quick because this contest only lasts for 30 minutes. So tag a friend! Bitcoin uses ____________ for mathematical and computational practice of encoding and decoding data...' (twitter.com) by /u/Bitcoin_Magazine removed from /r/Bitcoin within 123-133min
Does mining bitcoin use a lot more electric than if my computer was just running all day anyway?
Hello, I have a couple of computers I rarely turn off. If I'm mining bitcoin while away, does this use a lot more electric? I'm thinking if it doesn't spike my bill too much since the PCs are always on anyway... I should give it a go.
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5. Pay Your Phone, Internet and Cable Bills Using Bitcoin. If you’re looking to use bitcoin as a payment method regularly, a great way to start is with recurring bills. Select service providers such as certain phone, internet and cable providers are now taking payments in bitcoin. Bitcoin is extremely empowering but also different than the currency you know and use every day. Step 1 ---> Get Started With Bitcoin Before you start using Bitcoin, which is still experimental but has been operational without any interruptions for over eight years, there are a few things that you need to know in order to use it securely and ... Unfortunately, Bitcoin payment is currently only accepted for hotel bookings. eGifter. eGifter is an online service that allows you to use your hard-earned Bitcoins to purchase gift cards from places that don’t directly accept Bitcoins, such as Amazon, JCPenny, Sephora, Home Depot, Kohl’s and many others. Just like Expedia and Overstock ... Bitcoin does not require merchants to change their habits. However, Bitcoin is different than what you know and use every day. Before you start using Bitcoin, there are a few things that you need to know in order to use it securely and avoid common pitfalls. Learning how to use cryptocurrency and bitcoin can often be a daunting task for the uninitiated. Throw into the mix the whole blockchain technology aspect and many feel […] UseTheBitcoin in Crypto News
Bitcoin Basics (Part 1) - "Explained For Beginners" - YouTube
A short introduction to how Bitcoin Works. Want more? Check out my new in-depth course on the latest in Bitcoin, Blockchain, and a survey of the most excitin... Grant and Jonathan explain what Bitcoin is, how to get it, and how to use it. Bitcoin Wallets - https://bitcoin.org/en/choose-your-wallet Bitcoin Exchanges -... If money is only valuable when we believe in it, how much is a BitCoin actually worth? Jonathan explains the virtual currency as well as how to mine it and t... Example of a USD pegged cryptocurrency: https://nubits.com/ Create your own cryptocurrency using Colored Coins: https://www.coinprism.com/ Stellar: https://w... Subscribe to my bitcoin channel - https://calcur.tech/subscribe-curryncy Updated video - https://www.youtube.com/watch?v=n5Q-A5BVw98 Join Coinbase and earn $...