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What the heck is Bitcoin?
Today | Jagusafr

Posted on 09/18/2021 11:11:09 AM PDT by jagusafr

Can somebody suggest a basic tutorial on bitcoin/Blockchain essentials?


TOPICS: Business/Economy; Reference
KEYWORDS: bitcoin; blockchain; cryptocurrency
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To: refermech

Yes it did.


21 posted on 09/18/2021 11:47:29 AM PDT by DownInFlames (G)
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To: neefer

I live in a very rural Kentucky county. We have a small grocery store near where I live. Today I noticed something new in the store, a Coin Cloud Buy and Sell Bitcoin vending machine. Seems very out of place in my neighborhood. I’d never seen one before.


22 posted on 09/18/2021 11:48:29 AM PDT by hardspunned (former GOP globalist stooge)
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To: jagusafr

Bitcoin is a digital encrypted currency.
If you want to a fairly good tutorial on bitcoin and other topics, you can check out Naomi Brockwell at https://www.youtube.com/c/NaomiBrockwellTV .
She’s well informed, and will take you from novice to expert in a very short time (and she’s an very hot Aussie redhead to boot.)


23 posted on 09/18/2021 11:48:48 AM PDT by BuffaloJack ("Without gunpowder there is no freedom." Thomas Jefferson)
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To: Cecily

I bought $250 worth of crypto it climbed to $450, I withdrew $300 and then later withdrew the other $150.

I used coinbase but a lot of people say you should keep it in your crypto wallet instead of an exchange. Reason being, if the exchange goes belly up, you lose your crypto. I wasn’t worried about it since it was only a few hundred and coinbase isn’t some rinky dink outfit.


24 posted on 09/18/2021 11:50:50 AM PDT by Pollard (Some people like to argue just to argue.)
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To: jagusafr

Bitcoin and related cryptocurrencies are an alternative to fiat currency in the internet/computer age. How it works and a comprehensive explanation of what it can do is beyond the scope of this medium, except to provide links to sources of information for your further edification. It’s quite a journey now; like to drinking from a fire hydrant.


25 posted on 09/18/2021 11:52:14 AM PDT by amorphous
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To: jagusafr
It is a cryptocurrency meaning it is not backed by any government. It is a piece of molecules given value by speculators.
26 posted on 09/18/2021 11:52:30 AM PDT by Chgogal (Biden's New Taliban, same as the old Taliban. America, we are so screwed.)
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To: faithhopecharity

crypto sits on a blockchain. A blockchain is basically a decentralized database with a copy residing on thousands of individuals’ computers.

It’s not one guy with a website.

Why comment on something you obviously know nothing about?


27 posted on 09/18/2021 11:54:44 AM PDT by Pollard (Some people like to argue just to argue.)
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To: jagusafr

If you look under your computer table, you can find little teeny things that you would normally think of as dust...

However, they are probably “bits” that leak from your computer...

Sweep them up, spit on them, roll them into a wad and you have a bitcoin...


28 posted on 09/18/2021 11:58:00 AM PDT by SuperLuminal (Where is another Sam Adams now that we desperately need him?)
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To: jagusafr

11,000 cryptos and counting


29 posted on 09/18/2021 11:59:51 AM PDT by northislander
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To: jagusafr

11,000 cryptos and counting


30 posted on 09/18/2021 11:59:52 AM PDT by northislander
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To: hardspunned

Interesting! I live in WV and have seen nothing like that here. Although, the techies at the small bank I worked for are into cryptocurrencies. Out of 3 local banks in town, it was the only one that made it easy to register with crypto exchanges.


31 posted on 09/18/2021 12:00:02 PM PDT by neefer (Because you can't starve us out and you can't make us run.)
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To: Wildbill22

I thought that would get a good reaction. Thanks!

(as for my bank, yes I trust it very little indeed. In past years, much more than today. Perhaps the turning point was when their mortgage lending officer lied about there being no fees in a loan, then tried to rush us into signing. In the 21st of the 22 loan documents, he’d hidden some $2,000 in secret fees....)

thank you


32 posted on 09/18/2021 12:00:28 PM PDT by faithhopecharity (Politicians are not born, they are excreted. Marcus Tullius Cicero (106 to 43 BCE))
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To: jagusafr

Bookmar


33 posted on 09/18/2021 12:04:09 PM PDT by Raycpa
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To: jagusafr

KEYWORDS: bitcoin; blockchain; cryptocurrency

34 posted on 09/18/2021 12:04:40 PM PDT by SunkenCiv (Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
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To: hardspunned

A vending machine?? Now I’ve heard everything.


35 posted on 09/18/2021 12:11:44 PM PDT by ProtectOurFreedom ("If I’m going to get my political views from those who chase balls, I’ll ask my dog.")
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To: jagusafr

The answer to a question nobody asked?


36 posted on 09/18/2021 12:11:46 PM PDT by doorgunner69 ("Those who vote decide nothing. Those who count the vote decide everything.." -Joseph Stalin)
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To: Pollard
Why comment on something you obviously know nothing about?

He's just holding up a long-time FReeper tradition.

37 posted on 09/18/2021 12:12:42 PM PDT by ProtectOurFreedom ("If I’m going to get my political views from those who chase balls, I’ll ask my dog.")
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To: jagusafr

It’s electronic internet money. What could possibly go wrong?


38 posted on 09/18/2021 12:12:49 PM PDT by antidemoncrat (somRead more at: https://economicti)
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To: jagusafr

Bookmarking to be entertained in a few years. Just like Katy Couric and Bryant Gumbel learning about the internet.

https://youtu.be/UlJku_CSyNg


39 posted on 09/18/2021 12:21:36 PM PDT by bagadonutz (knuckledragger)
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To: jagusafr

In a nutshell, bitcoin is a complete electronic commodity, with 6 times the volatility of the gold market.

Bitcoin values ard arbitrary, like fiat money, but without any govermental issuance or control, thereby the stated value remains the same, no matter which natoon conducts transactions.

Lastly, you need THOUSANDS of dollars to purchase 1 bitcoin.


40 posted on 09/18/2021 12:22:02 PM PDT by Terry L Smith
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