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All About Bitcoin
How to Acquire, Store, Trade, Protect, and Use Bitcoin in Your Life.
Alan John
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eBook - ePub
All About Bitcoin
How to Acquire, Store, Trade, Protect, and Use Bitcoin in Your Life.
Alan John
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About This Book
Bitcoin has blown up to a trillion-dollar industry leader, and the expanding trends of cryptocurrency, blockchain, and decentralized technologies will influence every part of life, from finance to politics. Understanding the primary cryptocurrency project, Bitcoin, and knowing how to acquire, manage, and trade such a technology will place you on the forefront of the next financial revolution. This guide aims to do just that and make you fluent in all areas of Bitcoin through the following topics:
Bitcoin and Cryptocurrency - An Overview
Bitcoin Value
Techniques to Acquire Bitcoin
Bitcoin Mining
Bitcoin Storage
Trading and Selling your Bitcoin
Bitcoin as an Investment
Bitcoin for your Business
Bitcoin Fraud and Theft
The Future of Cryptocurrency
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All About Bitcoin
How to Acquire, Store, Trade, Protect, and Use Bitcoin in Your Life.
Alan John
Table Of Contents
Chapter 1: Bitcoin and Cryptocurrency â An Overview
- A Look At Cryptocurrency and Bitcoinâs Colorful Past
- Why Do Cryptocurrencies Exist?
- How Bitcoin Works
- The Technology Behind Bitcoin
Chapter 2: Bitcoin Value â Determine the Value of Bitcoin
- Bitcoinâs Value Lies In Its Utility
- Bitcoins Are Incredibly Scarce
- Supply And Demand Affects Bitcoin Value Directly
Chapter 3: Different Techniques To Acquire Bitcoin
- Buy Some Bitcoins
- Trade Your Other Cryptocurrencies For Bitcoin
- Get Paid With Bitcoins
- Complete Small Tasks On Websites
- Join Bitcoin Faucets
- Mine Your Own Bitcoin
Chapter 4: Bitcoin Mining â All About Bitcoin Mining
- Bitcoin Mining Terms You Should Get To Know
- Bitcoin Mining Hardware Commonly Used By Miners
- The Role Of Mining In The Creation Of New Bitcoins
- What Is The Blockchain?
- What Exactly Is Bitcoin Mining?
- Bitcoin Mining And Mining Difficulty
- Bitcoin Cloud Mining â An Alternative To Joining Mining Pools?
- Is Bitcoin Mining Profitable?
Chapter 5: Bitcoin Storing â Store Safely Your Bitcoin and Other Cryptocurrency
- Online Wallets
- Mobile Wallets
- Desktop Wallet
- Paper Wallet
- Hardware Wallet
Chapter 6: Trading And Selling Your Bitcoin For Profit
- Bitcoin Trading Strategies
- Popular Bitcoin Trading Platforms
- Are You Ready To Start Trading Bitcoins?
Chapter 7: Using Bitcoin As An Investment Strategy
- Bitcoin Investment Methods
- Strategies To Succeed In Bitcoin Investing
Chapter 8: How to Accept and Use Bitcoin for Your Business?
- Online And Offline Businesses Can Accept Bitcoin Payments
- How To Handle The Volatility Of Bitcoin
- Why Your Business Should Start Accepting Bitcoin Payments
- The Benefits Of Bitcoin Payments For Your Business
Chapter 9: Protect Yourself Against Fraud And Theft on Bitcoin
- Bitcoin And Cryptocurrencies Are Not Scams
- Scam #1 â Fake Bitcoin Exchanges
- Scam #2 â Phishing Scams
- Scam #3 â Cloud Mining Scams
- Scam #4 â Ponzi Scams
Chapter 10: The Future Of Cryptocurrency
- Massive Support From The Masses
- Bitcoin In Developing Economies
- Fast And Cheap International Payments
- Combat Crime and Corruption
- Blockchain Technology Will Become Mainstream
Chapter 1: Bitcoin and Cryptocurrency â An Overview
In this guide, you will learn all about Bitcoin (BTC) and cryptocurrency, how they work, why they exist and what kind of technology is behind Bitcoin. It wasnât too long ago when people started hearing the words âBitcoinâ and âcryptocurrencies.â
Few people outside of the crypto-communities knew what they were and many thought it was just another fad that was bound to fail in a few years or so. The value of one bitcoin was just a few cents then so obviously it wasnât worth a lot. For this reason, it was ignored by the masses. There were far more profitable investments one could make, after all.
Those who invested sums of money on the new digital currency either believed in the system proposed by its founder, Satoshi Nakamoto, or they simply wanted to see how it works.
Either way, those who believed were rewarded greatly, and continue to be rewarded, as a single bitcoin now costs thousands of dollars.
It only took Bitcoin five years to breach the $1,000 mark in late 2013, and just a few years later, Bitcoin prices are at an all-time high â way past the $10,000 mark for a single bitcoin!
With skyrocketing prices and extremely fast growth, more and more people are curious about bitcoins and cryptocurrencies as a whole.
A Look At Cryptocurrency and Bitcoinâs Colorful Past
Cryptocurrencies are digital currencies which are electronic in nature. They do not have a physical form like paper money or coins which you probably have in your wallet right now. You can't hold them physically, but you can buy things with them.
Depending on the merchant you're doing business with, they may accept more than one cryptocurrency as payment.
According to CoinMarketCap ( https://coinmarketcap.com ), there are more than 4,000 active cryptocurrencies right now. If youâre looking to invest your hard-earned cash but canât afford Bitcoin prices right now, there are plenty of alternative cryptocurrencies to choose from such as Ethereum, Litecoin, Ripple, Dash, Monero, Zcash, and more.
We would, of course, advise you to do some in-depth research on the cryptocurrency you want to invest in as not all cryptocurrencies are equal. Some are more stable than others and would, therefore, make for better investments.
Bitcoin is not the worldâs first cryptocurrency, but it is the most successful.
Many have come before it but all have failed. And the reason for failure?
Virtual currency had an inherent problem â it was easy to double spend.
You could pay $100 to one merchant and use the same amount of money to pay a second merchant! Scammers and fraudsters simply loved this loophole.
Fortunately, in 2007, Satoshi Nakamoto started working on the Bitcoin concept. On October 31 st the following year, he released his white paper entitled â Bitcoin: A Peer-to-Peer Electronic Cash System â which outlined a payment system that addressed the double spending problem of digital currencies.
It was a brilliant concept that drew the attention of the cryptographic community. The Bitcoin Project...