visual.ly > infographic > Economy Bitcoin 101: The Digital Currency Revolution shared by obizmedia on Mar 20, 2013 in Economy 1,987 views 2 faves 2 shares 1 comment Category: Economy Publisher: Designer: Did you work on this visual?About Latest Posts Latest posts by Dean (see all) My Long Awaited Altcoin Trading Article: STOP BUYING ALTCOINS THEY ARE IN A MASSIVE BUBBLE Orocrypt ICO: Own a share of a gold backed cryptocurrency network Wagerr Decentralized Sportsbook: ICO Crowdsale; ‘Be The House’ Oracle Opportunities Welcome to the inaugral post on our brand spanking new Cryptorials blog!Thank you for visiting and for taking the time to read this article.The whole purpose of this blog is to help people to learn about distributed and decentralized technologies, with a particular focus on Bitcoin and cryptocurrencies in general.So with this in mind, it seemed appropriate for our first post to be about just that – learning all about bitcoin, the block chain and crypto technology.

Of course you wouldn’t expect us to be able to put everything that we ever want to publish on this site into a single post, so don’t expect this article to actually tell you everything you wanted to know about bitcoin either.Although you can expect many of our future posts to be self-contained tutorials you can use to learn everything about s single topic in one place, we also plan to publish many posts which will effectively act as roadmaps: giving you the best directions to find the best information and resources; this post fits into that latter category.bitcoin in my iraBecause this information needs to cater to a lot of different visitors with different backgrounds, levels of knowledge and areas of interest, I have decided to break it up into sections – please scroll down to find the section which is most relevant to you.litecoin miner guide

And of course I have to say this – the best way to learn all about Bitcoin is to bookmark this subscribe to this blog (leave a nice comment below and it will give you the option to subscribe), bookmark it in your browser, follow us on Twitter and generally do what you can to check back here often and read our latest tutorials and guides.Many people develop an interest in Bitcoin but don’t really understand it in any detail – and don’t really know where to start.So if that sounds like you don’t worry, you are in exactly the same boat as most people are when they first set out to understand cryptocurrency.dogecoin faqLet’s start off with a few websites that are well worth a visit.bitcoin timeline valueIf you are a bit more geeky than the average beginner, or if you already know a little bit about software development and other such technical subjects, then you may want to take a look at some of these resources.bitcoin mining nvidia

They are a bit more technical and in-depth than what I’ve included so far and relate purely to the technology itself rather than its use.What do you mean you don’t want to get arrested?Oh, well ok then, in that case you should probably take a look at these: Because its all about the money… About this page: This post is actively maintained and regularly checked to make sure that it is accurate and up to date.Please help me to improve this article: suggestion for links to include are welcome in the comments section for via twitter, just as long as they are on-topic and they for sites with genuinely useful content.bitcoin iphone widgetSpam will be eaten.I’ve talked about how to get started using Bitcoin and have presented some basic security requirements.Those safety requirements were good enough for dealing with a few hundred dollars, but what about safely handling thousands of dollars worth of bitcoin?

With Bitcoin you really are your own bank, so if you’re looking to hang on to more bitcoin than the amount of cash you’d feel safe walking around with in your wallet, keep on reading about how to secure your bitcoin further.For background, see the first two articles: To start talking about Bitcoin security, you need to know about wallets and what they are.To put it simply, a Bitcoin wallet is a digital wallet that stores your Bitcoin public and private keys.A wallet can carry hundreds of these keys.You can also have as many wallets as you like.And FYI, your public key is the same thing as your Bitcoin address.So when you see the long string of characters and digits or a QR code, this is most likely representing your public key / Bitcoin address.In order to access those funds, you need your private key, which only you should know.It’s the key that lets you spend your bitcoin.It’s kind of like a safe deposit box at a bank.Anyone can put money into a safety deposit box, but only you with your safety deposit box key can go into the bank and open it.

Likewise the public key can be used by anyone to put money into your Bitcoin wallet, but only you with the private key can open it up and take money out.Since your Bitcoin wallet contains your private keys, you’ll want to keep it extra safe.Your private keys are simply a string of numbers and digits (it looks exactly like a Bitcoin address).If someone has hacked your computer or an online Bitcoin wallet service, it’s possible for them to steal the private keys and transfer the money to their own Bitcoin wallet.And since Bitcoin transactions are final, you’ll be out of luck.So any wallet that is connected to the Internet is called a hot wallet.The rule of thumb is to never leave more money in a hot wallet than the amount of cash you’re comfortable walking around with in real life.For some this may be $50, for others it could be $1,000.So, what do you do when you have a lot of money in Bitcoin and you want to store it safely?You put it into a cold wallet, (otherwise known as “cold storage”).

A cold wallet is simply a wallet that is stored on a device or medium that is not connected to the Internet (e.g.a wallet on a USB drive, an air gapped computer, or in a paper wallet) When I first started looking into Bitcoin security, it was very confusing as to what was the best way to secure my cold wallet Bitcoins.The easiest way I found was to use a “paper wallet”.A paper wallet really is just a piece of paper with your Bitcoin public and private key printed on it.It looks like this: .When you go there, you’ll be asked to move your mouse around to create some randomness so that a totally unique Bitcoin wallet is created.You’ll notice that it has many types of wallets.If you only want a single set of public and private keys, you can use the “Single Wallet” option.There’s a “Paper Wallet” option as well.It’s like the “Single Wallet”, but it lets you create multiple pairs of public and private keys and gives you the chance to use BIP38 Encryption, which basically allows you to add a password to your wallet.