Bit coin

[Anonymous No.1531830]

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

[Anonymous No.1531880]

>>1531830
You can't get into it now. Should've invested in 2010

[Anonymous No.1531883]

U low IQ or 15 years old ?

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

[Anonymous No.1531932]

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

[Anonymous No.1531990]

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

[Anonymous No.1532047]

>>1531880
>being this sort ofdickhead

[Anonymous No.1532060]

I might have millions just interested in this damm

[Anonymous No.1532068]

Buy potcoin on poloniex. It will go up

[Anonymous No.1532078]

Back dick

[Anonymous No.1532081]

>>1531830
>>1531932
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.

[Anonymous No.1532093]

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

[Anonymous No.1532104]

Thanks 1532081

[Anonymous No.1532131]

>>1532104
Have you ever even posted on 4chinz before right now, holy shit?

[Anonymous No.1532185]

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

[Anonymous No.1532186]

>>1531830
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.

[Anonymous No.1532189]

4chan fn hell

[Anonymous No.1532196]

>>1532186
Typing by phone is the worst

[Anonymous No.1532203]

That what I needed thanks

[Anonymous No.1532215]

>>1531830
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.

[Anonymous No.1532216]

>>1532215
*Bob's to 13

[Anonymous No.1532393]

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

[Anonymous No.1532395]

>>1532393
basically, just buy potcoin, and all will become clear.

[Anonymous No.1532403]

>>1531830
>cash out
cute

[Anonymous No.1532559]

>>1532186
whats ur skype or discord?

[Anonymous No.1532649]

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

[Anonymous No.1532652]

>>1532649
that's why you're too dumb for bitcoin

[Anonymous No.1532660]

>>1532652
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[Anonymous No.1532826]

>>1532104

[Anonymous No.1533064]

>>1532081
>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!

[Anonymous No.1533068]

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

[Anonymous No.1533079]

>>1532186
>dreams of a child

[Anonymous No.1533143]

>>1533064

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

[Anonymous No.1533150]

>>1533143
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.

[Anonymous No.1533153]

>>1532403

[Anonymous No.1533165]

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

[Anonymous No.1533176]

>>1533165
>it most certainly isn't money
Yeah, keep telling yourself that
https://www.bitpremier.com/

[Anonymous No.1533362]

>>1532652
f uuuuuuuuu

[Anonymous No.1534054]

>>1532104

[Anonymous No.1534386]

[Anonymous No.1534548]

>>1533165

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

[Anonymous No.1534663]

>>1532081
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.

[Anonymous No.1534686]

>>1534663
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.

[Anonymous No.1534702]

>>1534686
But I could buy it with my vanguard account.

[Anonymous No.1534725]

>>1534702
Who cares?

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