Bitcoin Bitcoin Newcomers FAQ - Please read! |
- Bitcoin Newcomers FAQ - Please read!
- Daily Discussion, April 07, 2021
- Today I did a shoot for a company in Copenhagen and they had a meeting room named after Satoshi. Pretty cool that Satoshi is starting to be recognized by general public like this! Other meeting rooms were called after Turing, Lovelace, Metcalfe and etc
- Coinbase added 13million users in just over 2 months
- Right in the center of Moldova’s capital city
- 46351 ВТС being HODLed by government officials in Ukraine
- All of us waiting for $60k
- From a lot in Monoco
- Someone Moved $1.3 Billion Worth Of Bitcoin For Just $10: Try That With Your Bank
- Grayscale Bitcoin Trust (GBTC) Files To Become an ETF with SEC - April 5th 2021
- How to Easily Calculate Taxes on Your Bitcoin Earnings
- Another company going bullish on bitcoin ������... Chinese Lottery Firm Furthers Crypto Pivot by Buying Bitcoin Miner Maker for $100M
- When an ETF was approved in the USA gold went up +350% There’s a flood of money waiting for a Bitcoin ETF in ����
- RGB is client-side validated state and smart contracts system operating on Layer 2 and 3 of Bitcoin ecosystem.
- DeFi on Bitcoin?
- Michael Novogratz on The FED "There's a Sense That Money Grows on Trees Right Now" - April 6 2021
- Square, Fidelity, Coinbase start cryptocurrency lobbying group
- The IRS starts hunting down investors who don't declare Bitcoin - Crypto DeFinance
- Coinbase team just announced 1Q21 data including revenue of ~$1.8B, trading volume of $335B & assets on the platform of $223B (11.3% of crypto asset market) with 56M users
- I coded a script to help me understand the daily news sentiment for Bitcoin in order to help me forecast potential pumps or dumps and open sourced it
- Crypto Whale Watching Could Become a Thing at Ukrainian Town Council Meetings
- A year ago, I found a bug in AT&T and they paid me $50 on HackerOne. I decided to have the bounty paid out in Bitcoin directly to my Coinbase account. A year later, that $50 is now worth over $500.
- Will India Lose More Than Gain from a Crypto's like Bitcoin Ban?
- China’s Digital Currency Has Nothing to do with Bitcoin
- Coinbase Reports $1.8 Billion In Revenue, 6.1 Million Active Users For Q1
- How do i force a re-check of the blockchain?
- Github Server Hacked to Mine Bitcoin and Other Cryptocurrencies
| Bitcoin Newcomers FAQ - Please read! Posted: 06 Jan 2021 08:06 AM PST Welcome to the /r/Bitcoin Sticky FAQYou've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments. It all started with the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following articles/books/videos as a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Michael Saylor's "Bitcoin for Everybody"' course, Jameson Lopp's resource page, Gigi's resource page, and James D'Angelo's Bitcoin 101 Blackboard series. Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute. If you are technically or academically inclined check out developer resources and peer-reviewed research papers, course lectures from both MIT and Princeton as well as future protocol improvements and scaling resources. Some Bitcoin statistics can be found here, here and here. MicroStrategy's Bitcoin for Corporations is an excellent open source series on corporate legal and financial bitcoin integration. You can also see the number of times Bitcoin was declared dead by the media (LOL) and what you could have earned if you didn't listen to them! XD Key properties of Bitcoin
Where can I buy bitcoin?Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
You can also purchase in cash with local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage. Note: Bitcoin are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Securing your bitcoinWith bitcoin you can "Be your own bank" and personally secure your bitcoin OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoin for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code or a physical security key to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes. Avoid using your cell number for 2FA. Hackers have been using a technique called "SIM swapping" to impersonate users and steal bitcoin off exchanges.
Physical security keys (FIDO U2F) offer stronger security than Google Auth / Authy and other TOTP-based apps, because the secret code never leaves the device and it uses bi-directional authentication so it prevents phishing. If you lose the device though, you could lose access to your account, so always use 2 or more security keys with a given account so you have backups. See Yubikey or Titan to purchase security keys. Both Coinbase and Gemini support physical security keys. Watch out for scamsAs mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the r / btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. As they say in our community, "Don't trust, verify".
Common Bitcoin MythsOften the same concerns arise about Bitcoin from newcomers. Questions such as:
All of these questions have been answered many times by a variety of people. Here are some resources where you can see if your concern has been answered: Where can I spend bitcoin?Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card or Fold card. Some other useful site are listed below.
Coinmap and AirBitz are helpful to find local businesses accepting bitcoin. A good resource for UK residents is at wheretospendbitcoins.co.uk. There are also lots of charities which accept bitcoin donations. Merchant ResourcesThere are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;
Can I mine bitcoin?Mining bitcoin can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read the mining FAQ. Still have mining questions? The crew at /r/BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node. You can view the global node distribution for a visual representation of the node network. Earning bitcoinJust like any other form of money, you can also earn bitcoin by being paid to do a job.
You can also earn bitcoin by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoin for a small fee (requires you to already have some bitcoin). Bitcoin-Related ProjectsThe following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Bitcoin UnitsOne Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki. Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /r/Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval. Welcome to the Bitcoin community and the new decentralized economy! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Daily Discussion, April 07, 2021 Posted: 06 Apr 2021 10:10 PM PDT Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you! If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow. Join us in the r/Bitcoin Chatroom! Please check the previous discussion thread for unanswered questions. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 06 Apr 2021 12:32 PM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Coinbase added 13million users in just over 2 months Posted: 06 Apr 2021 11:03 PM PDT
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| Right in the center of Moldova’s capital city Posted: 06 Apr 2021 07:12 AM PDT
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| 46351 ВТС being HODLed by government officials in Ukraine Posted: 07 Apr 2021 04:14 AM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 06 Apr 2021 07:18 PM PDT
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| Posted: 06 Apr 2021 05:00 PM PDT
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| Someone Moved $1.3 Billion Worth Of Bitcoin For Just $10: Try That With Your Bank Posted: 06 Apr 2021 11:24 AM PDT
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| Grayscale Bitcoin Trust (GBTC) Files To Become an ETF with SEC - April 5th 2021 Posted: 06 Apr 2021 09:17 PM PDT
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| How to Easily Calculate Taxes on Your Bitcoin Earnings Posted: 06 Apr 2021 05:55 PM PDT
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| Posted: 07 Apr 2021 03:47 AM PDT
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| Posted: 06 Apr 2021 10:52 PM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Apr 2021 12:56 AM PDT
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| Posted: 06 Apr 2021 04:15 PM PDT This topic's probably been discussed ad nauseum, but what are your guys' thoughts on DeFi native on Bitcoin? Pomp and Edan Yago (two OGs) have talked about how it's possible - Yago's even speaking at an event this week on the Future of DeFi (specifically how it relates to Bitcoin L2 / DeFi - https://discover.stakerdao.com/defi-webinar-8-april-2021) The old saying goes... "whatever tech is better than Bitcoin, will be adopted by Bitcoin". Would love to hear people's thoughts on L2 and the above [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Michael Novogratz on The FED "There's a Sense That Money Grows on Trees Right Now" - April 6 2021 Posted: 07 Apr 2021 02:26 AM PDT
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| Square, Fidelity, Coinbase start cryptocurrency lobbying group Posted: 06 Apr 2021 06:23 AM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The IRS starts hunting down investors who don't declare Bitcoin - Crypto DeFinance Posted: 07 Apr 2021 02:14 AM PDT
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| Posted: 06 Apr 2021 06:50 PM PDT
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| Posted: 06 Apr 2021 09:40 AM PDT The script searches the web for cryptocurrency news, taking keywords as input and then passes those to a text sentiment API, analysing how many of the headlines are positive, neutral or negative. The idea is that the script will check multiple sources and then calculate a % for each of the 3 sentiment categories. That way I'll be able to detect how the media is portraying Bitcoin, or any other crypto that day. I'm planning to integrate the output of this script into a crypto trading bot in order automatically buy or sell a coin the news are overwhelmingly positive or negative. Just like with the Elon Musk bot that I shared a while ago, my thinking is that catching a wave before it breaks, you can ride it for a while. The only limitation as it stands right now is that you can only sent 100 requests/day through the websearch API, so I might end up replacing it with a different solution. Would you use this script's signals in your investments? Why/Why not? Resources available below if you're interested: GitHub Repo: https://github.com/CyberPunkMetalHead/cryptocurrency-news-analysis Article and Guide: https://www.cryptomaton.org/2021/04/05/how-to-analyse-daily-news-sentiment-for-cryptocurrency-with-python/ [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Crypto Whale Watching Could Become a Thing at Ukrainian Town Council Meetings Posted: 07 Apr 2021 04:50 AM PDT
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| Posted: 05 Apr 2021 05:40 PM PDT
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| Will India Lose More Than Gain from a Crypto's like Bitcoin Ban? Posted: 07 Apr 2021 03:38 AM PDT
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| China’s Digital Currency Has Nothing to do with Bitcoin Posted: 06 Apr 2021 09:58 PM PDT
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| Coinbase Reports $1.8 Billion In Revenue, 6.1 Million Active Users For Q1 Posted: 06 Apr 2021 02:45 PM PDT
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| How do i force a re-check of the blockchain? Posted: 07 Apr 2021 04:29 AM PDT How can I for a recheck of the blockchain in bitcoin-qt? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Github Server Hacked to Mine Bitcoin and Other Cryptocurrencies Posted: 07 Apr 2021 01:39 AM PDT
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