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Please refer to "Bonus Information" for bonus details.Please Verify Your Email Address Verify your email address to receive even more VIP benefits!ethereum stock yahoo financeWe have sent you an email with a link to verify your email address.bitcoin zweckPlease click on the link to complete the verification process.send bitcoin to skrillResend Verification Email If you don’t want to verify your email address, you can click here to play anonymously.Hilo oficial del Bitcoin (continuación del hilo de Burbuja) (self.btces)submitted by - announcementπ Rendered by PID 12267 on app-223 at 2017-06-24 10:51:20.376689+00:00 running 3522178 country code: SG.Bitcoin for DummiesWhat is Bitcoin?Bitcoin is a form of currency, known as a cryptocurrency, which is similar to the former US “Gold Standard” currency, but operates like its own internet and is the world’s first free market, decentralized global currency.

Bitcoins can be exchanged for other currencies, goods or services.Bitcoin should be thought of in layers since it offers much more than standard currencies.MiningExchangeStorageValueWhere do Bitcoins come from?Bitcoins are created out of thin-air through an open-source computer mining system similar to a lottery, yielding a commodity like gold.I’ll now try to explain the key words here “lottery” and “gold” as they relate to Bitcoin mining.“Lottery” meaning that your computer is basically trying to decipher a a large number before anyone else on the mining network does.Each time your computer gets the string correct before anyone else, a new block is created and 12.5 BTC (currently) is awarded to the miner or pool (group of miners).But this isn’t a normal lottery.This lottery is millions of times more difficult than a normal lottery, thus why miners spend a lot capital on new hardware for mining.Therefore, the faster your system can mine the higher probability you will be rewarded.

Rewards for mining a block decrease in half every 4 years making bitcoin finite in creation.“Gold” meaning only 21,000,000 Bitcoins will ever be created just as only X amount of gold will ever be discovered on Earth.Thus, this form of payment tends to see an opposite affect of that which you are used to.Bitcoins become worth more as time goes on (finite supply) vs.traditional currencies today which lose more value as time goes on (infinite supply; central banks can print money at their discretion, and they do).How do Bitcoins work?Bitcoins are bit more different than a standard currency since it has it's own built in transaction system through its mining process.If the dollar, gold and visa had a baby we'd call it Bitcoin.Bitcoins operates on a open transaction ledger called the 'Blockchain'.All transaction data on the network is recorded on the blockchain.Each time a new block is mined the transaction data held inside that block is added to the blockchain and confirmed.The blockchain is then downloaded by every wallet making it irreversible.

All information on the network is encrypted to create anonymity, but this still needs more improvement.How are Bitcoins stored?Bitcoins are stored on wallet which essentially serving as their own bank for the user.A wallet program is provided by the Bitcoin network which allows users to transfer bitcoin between one another.Wallets can be stored in a variety of ways:online wallet providerCPU walletPaper walletMobile wallet deviceSmartphone appsIn your brainBitcoins are stored on the blockchain so they're essentially like cloud money.Your accessing the rights to them when you exchange them through a wallet or service provider.How do Bitcoins have a real world value?As Bitcoins continue to be mined they begin to create more value since more and more people begin to own them.You can kind of think of them as trading cards or beanie babies.The longer you hold onto these things the more value they tend to take on as more and more people begin collecting them.The biggest difference is you can’t take your Babe Ruth rookie card to the car dealership and trade it for a car because it’s not a universal means of exchange like Bitcoins or a credit card.

You have to go through the painstaking process of finding a buyer and turning that card into money.Bitcoin itself has consolidated that process.People worked hard for months or years to mine these things, investing time, hardware, and energy in the process.This is where the initial value of the currency is born, since time and money was used to create them.Put yourself in the shoes of a miner: you invest time, money and brainpower into mining these coins against thousands of other people around the planet.You’re not just going to give them all away for free.Everyone wants to get their money back from an investment, so people started exchanging Bitcoin for different things including currencies like the US dollar and the Euro.In return this allowed new people outside of the mining ring to collect and exchange Bitcoin, thus the currency began to grow which started to create a networking effect.Now normal everyday people are exchanging cash for Bitcoins, wondering what the hell can I do with these things?Why are people investing so much money into Bitcoin?Because it’s like gold, or more accurately, the gold of the Internet.

As long as people trust that this currency has value, people will continue to invest in Bitcoin.Bitcoin is open-source software, so it has no central control with corrupt bankers and politicians, just really smart people working for free to keeping it running.Given all the problems we see in world economies, people are rapidly beginning to lose faith in conventional legal tender like the EUR and USD.Governments have demonstrated that they can seize your bank-accessible assets if necessary.With Bitcoin, this is not possible as they have no access to your funds.Your Bitcoin wallet is essentially your own bank.It’s similar to the idea of people stuffing cash into their mattresses, except this is a lot more profitable and accessible.People will perhaps one day refer to this era as the gold rush of the 21st century.ConclusionBitcoin or cryptocurrencies are not an easy thing to wrap your head around.Imagine trying to explain the internet to someone who lived in the 70′s, they might think they get it, but without actually experiencing it, they’d never truly understand.

So dive in because this idea is spreading and I don’t believe cryptocurrencies like Bitcoin are going anywhere.I hope you enjoyed my beginner’s guide to Bitcoin, “Bitcoin for Dummies”.If you liked the tutorial, please upvote!Where can I buy Bitcoins?For novice users in the US I'd highly recommend using Coinbase, it offers ACH bank transactions and friendly user interface, its also the most heavily funded Bitcoin company at this point in time.It doesn't work like a typical exchange, but offers a secure method of attaining bitcoin easily and securely online.Use this referral link and we both get free Bitcoin:CoinbaseOriginally shared on:Bitcoin for Dummies: What is Bitcoin?You don't need an ultra complex rig (but you kinda do if you want to make any money).The rigs you see are really just many many GPUs being daisy chained together.GPUs can do multiple calculations in parallel, while CPUs tend to do one thing (but very quickly).Bitcoins are "mined" by solving a hard math problem.This math problem is such that it is easily broken down using parallelization, hence the use of GPUs.

application, there is an option to start mining, but it uses your CPU and will bog down your computer.There are more advanced and efficient (unofficial) miners that take advantage of GPU computing.Note that the chance that you will "win" by solving the problem (and get 50 BTC) gets logarithmically harder over time.Currently, the only way to be profitable (with regards to the electricity bill you'll be paying) is by joining a mining "pool" with other miners.Basically, you contribute your computing horsepower to the pool, and when somebody in the pool wins, the bounty is shared among the members, proportional to how much work they put in.It also tells about the transaction being permanently and anonmyously stored in the network.So who's network is that?There is no good short answer to this question.But here's the long answer:2.bank accountThere are no Bitcoin banks, all US banks deal with US currency, not bitcoins.Paypal only works with USD too.They've probably never heard of it.You are your own bank.

This is what makes Bitcoin awesome: all the benefits of digital transactions without the banks.Your bank is on your hard drive: where no one can steal it (hopefully), or gamble with it on your behalf.Though in the future, there may be bitcoin banks for those who want to generate some interest.There are online bitcoin wallets, that will store your bitcoins for you, but none of them have a reputation yet (and you will not generate any interest).If you want to buy bitcoins, you must use a bitcoin exchange, just like you would for any other currency.There are a couple out there.https://en.bitcoin.it/wiki/Categ...The most popular is Mt.GoxIf you want to buy something with bitcoins.Most services are virtual, like hosting, but there is a sandwich shop in NY that will let you buy in bitcoin.If your hard drive fails, you are screwed.Keep backups, or keep the money in a better place.Yes, if you are hacked, you can loose all your money.There are ways to encrypt the bitcoin "wallet" file that holds your private keys.If you have any other questions, use the bitcoin wiki:https://en.bitcoin.it/wiki/Main_...or join the #bitcoin IRC on freenode.This is a great and thorough explanation of Bitcoin, I'd recommend taking the time to watch all the videos: Bitcoin: OverviewHey,In the Startup Pirates blog (Startup Pirates Blog), I recently wrote about this exact same subject.

I also struggled with understanding what Bitcoin is, and I hope this helps!1) What are bitcoins?Bitcoin is a form of virtual currency, created in 2009 by an unknown person using the alias Satoshi Nakamoto.With Bitcoin  you can buy goods or services using this currency as you would with dollars or euros, as long as the seller accepts bitcoins.Bitcoins are used for electronic purchases and transfers.Every single purchase is immediately logged digitally on a transaction log that tracks the time of purchase and who owns how many bitcoins.This way every transaction is 100% transparent giving more safety to the whole process.But will people know how much I am spending and on what?Each transaction is recorded in the public log, and the names of buyers and sellers are never revealed – only their wallet IDs, keeping the transactions private.Bitcoins are growing in popularity and there is a positive trend of businesses accepting Bitcoin as a form of payment.Many big companies like WordPress, Bedding, Furniture, Electronics, Jewelry, Clothing & more, and Reddit accept Bitcoin.

More than $1.5 billion worth of bitcoins are currently in circulation around the world, with millions of transactions occurring daily.Recent history of the Bitcoin market price2) Why Bitcoin?The reasons for using Bitcoin are simple.It is a very fast payment method which, much like the credit card payments, are done instantly.It is a very cheap form of currency, as it only has minimal fees (sometimes being free).This is a major advantage, particularly for small business, as the typical credit card payments are 2-3% on the transaction.Plus, there is no central bank or institution with power over the industry.Bitcoins are controlled by its community and, for good and for bad, it is completely decentralized.Finally, another advantage relies on the security aspects of Bitcoin.It is 100% owned by you, meaning no one can “freeze your account” or access your bitcoins.Additionally, each transaction is only subject to two pieces of data: a public key, and a private one.Anyone can see the public key (your bitcoin address) but your private key is secret.

When you send a bitcoin, you ‘sign’ the transaction by combining your public and private keys together, and applying a mathematical function to them.This creates a certificate that proves the transaction came from you.This is different from the traditional credit card transaction, where you need to provide your card number, expiry date and CSV number.3) How to get startedYou can get Bitcoins in a different number of ways.Before getting them, you first need to sign up and get a ‘Bitcoin wallet’.A wallet is basically an app where all your bitcoins and information is kept.4) How to get BitcoinsNow that you have your wallet, you can start collecting and using your bitcoins.The most common ways to get the currency are the following:If you are selling a good, you can accept bitcoins as a form of payment.You can purchase and sell bitcoins through marketplaces called Bitcoin exchanges.The largest exchange is Mt.GoxYou can trade bitcoins for traditional currencies of countries.Through mining.

People compete to “mine” bitcoins using computers to solve complex math puzzles.This is how bitcoins are created.Currently, a winner is rewarded with 25 bitcoins roughly every 10 minutes.This means that the “miners” are the ones creating wealth (meaning bitcoins) in the system.In order to reduce inflation in the bitcoin world, there is a limit for the amount of bitcoins that will exist.The number of bitcoins created per block halves every four years (it will go from 25 to 17.5 in 2017) with the maximum being 21 million bitcoins.5) Recent developmentsThere has been quite a lot of talk around Bitcoin.Some countries, such asChina, have blocked the use of Bitcoins.Plus, a couple of weeks ago, theEuropean Union warned its citizens for the fact that virtual currencies have no consumer protections, meaning that we are on our own risk when it comes to virtual hacking or any other losses.On the other hand, it seems that Bitcoin has the possibility to take over internet-based financial transactions, providing a lot of value for both consumers and sellers.