How Does Bitcoin Work? Bitcoin Explained for Beginners

BitcoinAirdrops

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 any central authority whatsoever. While bitcoin tokens on the original network can't be copied or counterfeited, the protocol is open source and can be recreated with different parameters. We call these Airdrops.
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Mining Bitcoin

Bitcoin mining is analogous to the mining of gold, but its digital form. The process involves specialized computers solving algorithmic equations or hash functions. These problems help miners to confirm blocks of transactions held within the network. Bitcoin mining provides a reward for miners by paying out in Bitcoin in turn the miners confirm transactions on the blockchain. Miners introduce new Bitcoin into the network and also secure the system with transaction confirmation.
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New to Bitcoin? Confused? Need help? You've come to the right place.

Bitcoin is an internet based decentralised currency. Similarly to Bittorrent, but Bitcoin uses a public ledger called the blockchain to record who has sent and received money. It's very new, and for many very confusing. BitcoinHelp aims to rectify this. Whether it be explaining how it works, how to use it, how to buy Bitcoins, how to integrate Bitcoins into your business. Sharing your successes as well as failures in order to help others is also gladly received. Ask away!
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ELI5: Bitcoins. What are they, why are they sketchy, how do you get them, and why are they better then Runescape-currency?

I have read the wiki page on them, but I found that there were some terms, both economically and computational, that I didnt quite understand. When I compare them to runescape-currency I am actually asking what makes them more 'reliable' or better than any other kind of online currency, be it in-game or not.
submitted by ProUsqueTandem to explainlikeimfive [link] [comments]

When someone steals a Bitcoin, what are they taking? What was is that you had, that you couldn't copy, that they now permanently have?

submitted by ReasonablyConfused to Bitcoin [link] [comments]

The US Federal government has confiscated hundreds of millions in Bitcoin. What are they doing with them?

Are they being used by the CIA? Are they being auctioned off as most confiscated goods are? Are they being used to manipulate the price of bitcoin?
I am honestly curious. Is anyone aware if yhe staus can be traced or if a FOIA has ever been submitted and executed?
submitted by BCJoey to btc [link] [comments]

Libertarians And Millennials Are Going Crazy Over Bitcoin: What Are They?

Libertarians And Millennials Are Going Crazy Over Bitcoin: What Are They? submitted by CryptoJunky to CryptoCurrency [link] [comments]

The US Federal government has confiscated hundreds of millions in Bitcoin. What are they doing with them? /r/btc

The US Federal government has confiscated hundreds of millions in Bitcoin. What are they doing with them? /btc submitted by BitcoinAllBot to BitcoinAll [link] [comments]

The Guardian writes a fairly balanced and interesting article: "Bitcoins: What are they, and how do they work?"

The Guardian writes a fairly balanced and interesting article: submitted by DTanner to Bitcoin [link] [comments]

ELI5: What are bitcoins, what are they used for, and what do GPU's have to do with them?

Just curious. I could really use a simple answer with this.
submitted by You_Stealthy_Bastard to pcmasterrace [link] [comments]

ELI5: Bitcoins. What are they and are they still relevant?

submitted by BlackMacGyver to explainlikeimfive [link] [comments]

Who are the 'Bitcoin developers'? How does their work make its way into Bitcoin? What are they currently working on?

submitted by Apollo_Moonwalker to BitcoinBeginners [link] [comments]

Bitcoins: What are they and are they worth it? (March 2015)

Bitcoins: What are they and are they worth it? (March 2015) submitted by btcxindia to Bitcoin [link] [comments]

Bitcoins: What Are They and How Do They Work?

Bitcoins: What Are They and How Do They Work? submitted by razorhack to Bitcoin [link] [comments]

For everybody new to this sub who wants answers to these to questions... Bitcoins: What Are They Worth? No One Knows, But Here’s How To Buy One

For everybody new to this sub who wants answers to these to questions... Bitcoins: What Are They Worth? No One Knows, But Here’s How To Buy One submitted by cjm5275 to Bitcoin [link] [comments]

Coinmarketcap removed Ethereum from the Bitcoin dominance chart. It's now just part of 'Others'. What are they scared of?

Coinmarketcap removed Ethereum from the Bitcoin dominance chart. It's now just part of 'Others'. What are they scared of? submitted by Crypto_Economist42 to ethereum [link] [comments]

What are bitcoin developers currently working on? What problems are they trying to solve ?

submitted by polishjake to Bitcoin [link] [comments]

For not listing any MANA trading pairs, Coinbase sure knows a lot about what Coinbase customers are doing with their MANA. How can it be the 34th most commonly held token on Coinbase and they don’t even offer it?!? This is probably good for bitcoin.

For not listing any MANA trading pairs, Coinbase sure knows a lot about what Coinbase customers are doing with their MANA. How can it be the 34th most commonly held token on Coinbase and they don’t even offer it?!? This is probably good for bitcoin. submitted by minorthreatmikey to CryptoCurrency [link] [comments]

Coinmarketcap removed Ethereum from the Bitcoin dominance chart. It's now just part of 'Others'. What are they scared of?

Coinmarketcap removed Ethereum from the Bitcoin dominance chart. It's now just part of 'Others'. What are they scared of? submitted by cryptoallbot to cryptoall [link] [comments]

What is a Bitcoin exchange? How do they operate? Which ones are the most reliable for buying & storing BTC? [Bitcoin Basics Podcast]

What is a Bitcoin exchange? How do they operate? Which ones are the most reliable for buying & storing BTC? [Bitcoin Basics Podcast] submitted by CoinCompassBTC to Bitcoin [link] [comments]

What Are Bitcoin Futures and How Do They Work?

What Are Bitcoin Futures and How Do They Work? submitted by SaneFive to Bitcoin [link] [comments]

What is a Bitcoin exchange? How do they operate? Which ones are the most reliable for buying & storing BTC? [Bitcoin Basics Podcast] (x-post from /r/Bitcoin)

What is a Bitcoin exchange? How do they operate? Which ones are the most reliable for buying & storing BTC? [Bitcoin Basics Podcast] (x-post from /Bitcoin) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

What is a Bitcoin exchange? How do they operate? Which ones are the most reliable for buying & storing BTC? [Bitcoin Basics Podcast]

What is a Bitcoin exchange? How do they operate? Which ones are the most reliable for buying & storing BTC? [Bitcoin Basics Podcast] submitted by sexyama to bitcoinpodcast [link] [comments]

Hi, would like to buy a Ledger S. I have read some reviews on Amazon saying they are disappointed as it only holds 3 coins. Can I ask what does this mean? It only holds 3 different TYPES of coins at once? Or it means for example, you can only hold a total value of 3 bitcoins?

Will buy a hardware wallet very soon so the faster you can respond the better. Thanks!
submitted by Reddit_of_Dan to ledgerwallet [link] [comments]

09-18 10:45 - 'Hey whats the point of buying for appreciation in value if all the big boys go off chain? They are wasting their money.' by /u/taa_dow removed from /r/Bitcoin within 559-569min

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Hey whats the point of buying for appreciation in value if all the big boys go off chain? They are wasting their money.
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Author: taa_dow
submitted by removalbot to removalbot [link] [comments]

How Does BitCoin Work? - YouTube Bitcoin - What You NEED To Know Before Investing in ... How Bitcoin Works in 5 Minutes (Technical) - YouTube Bitcoin: How Cryptocurrencies Work - YouTube How Does Bitcoin Work? - YouTube

Bitcoin, the digital currency, has been all over the news for years. But because it’s entirely digital and doesn’t necessarily correspond to any existing fiat currency, it’s not easy to understand for the newcomer. Let’s break down the basis of exactly what Bitcoin is, how it works, and its possible future in the global economy. The key advantage of trading with a Bitcoin broker is the elimination of any slippage. Bitcoin brokers charge a single fee for their service, but they eliminate excess fees charged by major exchanges when making significant digital asset investments. OTC brokers develop networks of buyers and sellers to ensure each client’s needs are met. Bitcoin is a virtual currency that gained recognition after its price-per-coin rose above $13,000 in early 2018. The cryptocurrency (one of many) is at the center of a complex intersection of privacy, banking regulations, and technological innovation. Today, some retailers accept bitcoin, while in other jurisdictions, bitcoin is illegal. Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. Futures contracts have a long and storied history—but for Bitcoin traders, they’ve unlocked new strategies. By Robert Stevens. 5 min read. Sep 11, 2020 Sep 18, 2020. Bitcoin. In brief. A futures contract is an agreement that obligates a trader to buy or sell an asset at a specific time, quantity and price.

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How Does BitCoin Work? - YouTube

Whether or not it's worth investing in, the math behind Bitcoin is an elegant solution to some complex problems. Hosted by: Michael Aranda Special Thanks: Da... Learn about Bitcoin with the most watched Bitcoin video. More information: Start Guide - https://www.weusecoins.com Mining Guide - https://www.bitcoinmining.... Thanks to Away for sponsoring this video! Go to https://www.awaytravel.com/techquickie and use promo code techquickie to get $20 off your next order! Bitcoin... 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... THIS is What THEY don’t Tell YOU!! MMCrypto. ... Negative interest rates! What bitcoin means for the coming crash - Duration: 47:16. Naomi Brockwell 5,416 views. 47:16. ...

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