Bit coin

DeathDog
DeathDog

Can someone tell me what a Bitcoin is how can I get cash out of it?

All urls found in this thread:
https://www.bitpremier.com/
w8t4u
w8t4u

@DeathDog
You can't get into it now. Should've invested in 2010

massdebater
massdebater

U low IQ or 15 years old ?

I ll not explain the blockchain just for u fking skype.

BunnyJinx
BunnyJinx

Just want to understand bitcoins and now block chain idk what these things are and how they work

TreeEater
TreeEater

you will lose money. just go to work. come back when you have 50k.

Lord_Tryzalot
Lord_Tryzalot

@w8t4u
being this sort ofdickhead

SomethingNew
SomethingNew

I might have millions just interested in this damm

iluvmen
iluvmen

Buy potcoin on poloniex. It will go up

Deadlyinx
Deadlyinx

Back dick

Methnerd
Methnerd

@DeathDog
@BunnyJinx
Don't worry man, none of these monkeys truly know how it works. If you are genuinely interested, I can help. The revolution that came with Bitcoin was a method of transferring value to someone without trusting a third party. When you want to electronically send money to someone, you have to contact your bank, the other persons bank, and they both change there records to reflect the transaction. Now, if you just hand someone a pile of paper cash, you don't need to trust a third party because once you have the money you know you have it. With Bitcoin, you get all the nice properties of peer-to-peer cash transfer, but you can do it electronically. You can see how this is useful for criminals to send money to each other securely without meeting in person and without risking a bank confiscating there funds. Not only do you not need to trust a bank, but with Bitcoin you don't even need to trust any government to back the value of the currency. Bitcoins value is backed by the trust-less laws of math.

I'd be happy to answer any questions you have.

Flameblow
Flameblow

Hate to say it but the dicks right I need to do a lot more research holy dam I'm confused with all the terms and number I'm like a baby when it comes to this I was looking at pot coins when I hit the pipe and gave up lol

CouchChiller
CouchChiller

Thanks 1532081

Need_TLC
Need_TLC

@CouchChiller
Have you ever even posted on 4chinz before right now, holy shit?

Flameblow
Flameblow

No I have not am I not up to the 4chain standards

SniperGod
SniperGod

@DeathDog
Check out faucets

They five you very small amount of bitcoin for free.

Try freebit.co.in

Download a wallet.

I suggest going to bitcoins official address to read up and fond wallets. Use core wallet for full chain

I'd suggest using lightwallet

Once you have enough BTC on the faucets you can send your self the coins

Now goto poloniex, or I personally started in bittrex. If slower less volume a great way to learn.

If you want to just buy bitcoin you can use coinbase ,or whatever you think is da just search bitcoin markets

If your at least somewhat computer savvy you can figure out how to install and use the wallets,exchanges etc.

Experiment with small amounts so you can learn without losing all your coins.

Same goes with exchanges start small.

I literally started with faucets

used faucets
found freebit.co.in
found exchanges started with bittrex
worked my way up to .5 bitcoin
found poloniex
researched coins more thoroughly
invested in coin
maid,sia,xem,vcash,dgb etc
learned alot made mistakes but thanks to those investments I made my first bitcoin and then some
made mistakes learned more
my average stayed higher and higher
ico lisk
rest is history

Last October I got to my first 100$

Today I've more than X10 that

Right now I'm ripple long

Prepare for excitement,sorrow,anger,regret,fear,happiness and eventually you just.

No emotion, anticipation,and certainty.

Next year I know I will x50-100 that

I had huge opportunity,but needed to learn.

Most important thing I did was experiment and learn from smalllll investments.

RavySnake
RavySnake

Veeky Forums fn hell

CouchChiller
CouchChiller

@SniperGod
Typing by phone is the worst

AwesomeTucker
AwesomeTucker

That what I needed thanks

whereismyname
whereismyname

@DeathDog
A "bitcoin" is just an entry in a special data structure called the blockchain.

Imagine a text document like so:

Andy = 1
Bob = 12
Carl = 900
...

It lists various usernames and their corresponding balance. Now imagine hundreds of computers all around the world have a copy of that file. Whenever the file is changed the computers share the changes so everyone is always up to date.

When I want to send someone bitcoin I connect to the network and say "I'm Andy, please send 1 bitcoin of mine to Bob". Along with this request I also provide proof that I'm Andy in the form of a digital signature. The network will validate my request and then update the file, changing my balance to 0 and Bob's to 11. That change is relayed to the rest of the network and soon everyone knows I have 0 bitcoins and Bob has 11.

There are a special set of rules which dictate how the file must be updated. If I try to make arbitrary changes to the file and share them the rest of the network will reject those changes because I failed to follow the rules. One obvious rule might be: "if you change someone's balance the total number of coins must remain equal".

In practice these changes are done in batches. Each new batch of changes requires a solution to a complex math problem (outlined in the rules) which can only be solved by trial and error. The first person to find the solution to this problem earns the right to author the changes. Whoever makes the changes also gets to add a new entry to the file with their username and a fixed amount of new coins (currently 12.5). This is the bitcoin "mining" process and it is the source of all bitcoins originally.

Owning a bitcoin just means you have an entry in this distributed file. Nothing more, nothing less.

Nojokur
Nojokur

@whereismyname
*Bob's to 13

GoogleCat
GoogleCat

It's working but can youkinda explain satoshi to me now lol

Fuzzy_Logic
Fuzzy_Logic

@GoogleCat
basically, just buy potcoin, and all will become clear.

Supergrass
Supergrass

@DeathDog
cash out
cute

TurtleCat
TurtleCat

@SniperGod
whats ur skype or discord?

RavySnake
RavySnake

Idk what a discord is and not to sure how to pm you my skype

BlogWobbles
BlogWobbles

@RavySnake
that's why you're too dumb for bitcoin

TechHater
TechHater

@BlogWobbles
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Spamalot
Spamalot

@Methnerd
transferring value
wrong, there is no transferring of value in a one sided bitcoin transaction
you get all the nice properties of peer-to-peer cash transfer
wrong, bitcoin charges a fee and takes fucking forever
useful for criminals
debatable, bitcoin is very transparent tho authorities can analyze the block-chain without the help from any bank or other country.
value is backed by the trust-less laws of math
you have to trust in millions of hysterical imbeciles not to change their mind overnight.

happy to answer any questions
you really shouldn't!

farquit
farquit

bitcoin are coins you mine underground and sell them on the internet to bitcoin collectors

massdebater
massdebater

@SniperGod
dreams of a child

Need_TLC
Need_TLC

@Spamalot

your first 2 disagreements are just dumb. please reread :^)

Harmless_Venom
Harmless_Venom

@Need_TLC
sorry they are very valid points bitcoin has no value so a bitcoin transfer has no transfer of value, and it takes fucking forever whereas cash is close to instantaneous.

5mileys
5mileys

Think of it more like a digital poker chip for basement dwellers, it most certainly isn't money.

lostmypassword
lostmypassword

@5mileys
it most certainly isn't money
Yeah, keep telling yourself that
https://www.bitpremier.com/

hairygrape
hairygrape

@BlogWobbles
f uuuuuuuuu

w8t4u
w8t4u

@5mileys

implying "money" these days arent just government issued poker chips

Skullbone
Skullbone

@Methnerd
Is the bitcoin investment trust GBTC worth it? It's only been around for a few months but it's cheaper than a bitcoin itself.

BinaryMan
BinaryMan

@Skullbone
No.

If you want to invest in bitcoin buy fucking bitcoin. These meme "investment trusts" are just going to hit you with fees and run the risk of default. The price of 1 bitcoin is irrelevant, bitcoin are divisible to 8 decimal places.

Spazyfool
Spazyfool

@BinaryMan
But I could buy it with my vanguard account.

viagrandad
viagrandad

@Spazyfool
Who cares?

Learn how to purchase and secure your own bitcoin. You're not investing in something you don't understand are you?

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