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And while I do enjoy talking about it over and over, it did occur to me at some point that the lack of understanding of the technology IS one of the reason (if not the main reason) for what seems to be a fairly slow pace of adoption.[...]
Unfortunately, nearly all current onboarding guides on the subject are still way too complicated for the mainstream.[...]
So, long story short, I decided to write a guide that both my friends and relatives would be able to grasp without compromising on some essential elements of the Bitcoin blockchain.Yes, this is what bitcoiners see as "simple." They refuse to believe that anyone could possibly not want their money to be this confusing.
This is my first onboarding guide for someone with zero-knowledge in the field.
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Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part . Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast to the network and usually begin to be confirmed within 10-20 minutes ... Bitcoin is Like a Stock. Imagine you bought Apple stock in 2013, just before it began its great bull run. Back then it was $75 a share; today it’s trading at $175. That would have represented a 133% profit in five years. Now imagine you bought bitcoin in 2013, when it was around $100 per bitcoin. Bitcoin was invented in 2009 by a person (or group) who called himself Satoshi Nakamoto. His ... Read: Blockchain explained -- it builds trust when you need it most. Giphy Using specialized ... Bitcoin Explained Simply. Can you answer the question “what is bitcoin?” After you read this, you’ll be an expert and will be able to explain Bitcoin simply to your friends and family. Bitcoin was created by an anonymous person or people who went by the name of Satoshi Nakamoto. Bitcoin is a number of different things, but we can think of it as digital cash or as digital gold. The main ...
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A short introduction to how Bitcoin Works. Want more? Check out my new in-depth course on the latest in Bitcoin, Blockchain, and a survey of the most excitin... This introduction to bitcoin explains what is a crypto-currency and what exatly is a bitcoin? Also touched on are the other major currencies such as litecoin... A short video looking at 'Bitcoin', a decentralized digital currency. This is a self funded personal project, If you would like to make a Bitcoin donation fo... Get our free Bitcoin course here - https://chrisdunn.com/free-bitcoin-course This Bitcoin basics video series will explain Bitcoin for beginners. You'll lear... A somewhat technical explanation of how Bitcoin works. Want more? Check out my new in-depth course on the latest in Bitcoin, Blockchain, and a survey of the ...