Almost Everything you want/need to know about Bitcoin...and more!
23 Nov 2017
Almost everything you
want need to know about Bitcoin...and more!
Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator. Bitcoin isn’t just a new way to send money — it’s a new form of money entirely. Unlike dollars, bitcoins are unseizable, limited in supply, and not controlled by any central
entity governemnt. Bitcoin allows you to become your own bank!
How many bitcoins are there?
Only 21 million bitcoins will ever exist.
When was Bitcoin "created"?
Bitcoin was invented in 2008 by Satoshi Nakamoto.
Plot twist: no one knows who Satoshi is. Satoshi went to great lengths to hide his (or her, or their) identity. Satoshi sent an email in late 2008 describing Bitcoin, released the initial software implementation shortly after, then vanished a couple years later.
Satoshi’s anonymity may seem like a turn-off, but consider it a feature: there’s no influential leader to threaten, blackmail, or otherwise coerce in attempt to harm the system.
What’s the best way to buy bitcoin?
If you’re in the united States, register on Coinbase.com. Then, you can connect your checking account or debit card and trade dollars for bitcoin. They’ll store the bitcoin for you, and you can easily transfer them elsewhere later if you’d like. You have total control of your 'wallet'.
Where can I learn more?
Introduction to Bitcoin by Andreas Antonopoulos
How Digital Currency Will Change The World
Digital currency may be the most effective way the world has ever seen to increase economic freedom. If this happens, the implications are profound. It could lift many countries out of poverty, improve the lives of billions of people, and accelerate the pace of innovation in the world.
Economic freedom is a measure of how easy it is for members of a society to participate in the economy. It has a number of factors, such as:
- How easy it is to start a business
- Whether property rights are enforced (can you keep what belongs to you)
- Free trade with other nations
- Regulation of labor and business
- Stability of the currency
Several organizations exist that score and rank the countries of the world by how economically free they are. The data shown below is published by the Heritage Foundation and Wall Street Journal. Here are the top and bottom ranking countries from their 2016 list.
Geek Stuff (I highly recommend these videos if you want to get your learn on)
Blockchain 101 - A Visual Demo - Video
Lightning Network, Explained - Website
A Beginner's Guide (With Help from Wikipedia)
- Bitcoin 101 - Understanding Bitcoin (pt. 1 of 3)
- Bitcoin 101 - Understanding Bitcoin (pt. 2 of 3)
- Bitcoin 101 - Understanding Bitcoin (pt. 3 of 3)
Subscribe to Andreas Antonopoulos YouTube Channel
More Advanced Stuff
- Subscribe to Jimmy Song's Bitcoin Tech Talk Newsletter
- Learn Bitcoin from the Command Line
- Mastering Bitcoin - (book) by Andreas Antonopoulos
- Breaking Down Bitcoin (Video series)
- Bitcoin and Cryptocurrency Technologies - a free online course created by Princeton University
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