Please Help Me Understand BitCoins

Discussion in 'Forex - Currencies Forums' started by shamefulprincess, Dec 15, 2015.

  1. shamefulprincess

    shamefulprincess New Member

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    Nice forum. I am actually looking for some help understanding BitCoins.


    If anyone has any advice or suggested reading for a novice such as myself it would be greatly appreciated! Where do you buy them? Where do you keep them? How much is a BitCoin worth? Are they safe to buy/use? I would love to have a better understanding of the whole BitCoin scene so I can share my new found understanding with my friends at nodepositforum.com. I get asked questions about BitCoins all the time and have to tell them I don't understand how they work enough to answer. Help?


    Thanks in advance!
     
  2. baudwalk

    baudwalk Senior Investor

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    Go swsy. Google "bitcoin" and go play with your gamlbling friends. Bye spammer.
     
  3. kirtimeliwal

    kirtimeliwal Senior Investor

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    Bitcoin is a type of digital currency in which digital techniques are used to regulate the generation of units of currency and a digital system is used to verify the transfer of funds which operate independently of a central bank.
     
  4. rakhi

    rakhi Active Member

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    As a new user, you can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one.
     
  5. Chartman

    Chartman Senior Investor

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    Don't quite understand why you would start investing in Bitcoins if you are not aware how the system works? This for me is a very clear signal that we are approaching the top of the crypto currency trend in the short term. People buying for the sake of it.
     
  6. DanielH

    DanielH Active Member

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    I learn currency trading online, so, Bitcoin is a decentralized peer-to-peer digital currency that is powered by its users with no central authority or middlemen.
    By now you know how to buy Bitcoin, thoughts on the price of Bitcoin, ideas about investing in bitcoin, and where Bitcoin value comes from. No one can say how the price of Bitcoin will change day to day, but because the value of Bitcoin is based on reliable technology and widespread adoption in the world, investing in Bitcoin is likely a very good idea.
     
    Last edited: Mar 19, 2018
  7. longtermbull

    longtermbull Administrator Staff Member

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    If we were to encounter another financial crash, would central banks around the world be forced to support crytocurrencies? If they didn't, the potential economic impact could be huge and make the last economic crisis seem like a walk in the park? It looks to me that crytocurrencies are here to stay in some shape or form.
     
  8. Chartman

    Chartman Senior Investor

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    Interesting point, the more cryptocurrencies become part of everyday business and personal transactions the more impact they will have on the world economy. So, yes, I do think central banks would be forced to step in.
     
  9. Benigna Mazzi

    Benigna Mazzi Senior Investor

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    Bitcoin trading is a buzzword nowadays. Some people don’t know what is bitcoin actually where some others understand but don’t know how to trade it. You can trade Bitcoin with Eurotrader broker because they allow depositing and withdrawing in cryptocurrencies.
     

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