WTF is Bitcoin? Bitcoin, explained for dummies - Ac2ality
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Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
A subreddit initially designed for off-your-chest rants, now mainly for interacting with a very rude bot. Come have fun you little retard! ***** I've also found that Reddit search is based on the description. I'm going to add a *fuck* ton of tags so that all you guys find my sub! Tags; robot reddit sub crypto bitcoin cryptocurrency trump obama politics humor funny cute derp retard btc eth ethereum nano help ripple runescape 2007scape meme 4chan dank game wtf monero
[ 🔴 DELETED 🔴 ] Topic originally posted in Bitcoin by protestersunited [link]
My friend is new to bitcoin, he was suggesting some months ago to invest in bitcoin vault because some friends of him told him to do so. Since then it is rising like hell. Initially I told him it looks like a scam but he has to know. I told him everything he knows about bitcoin and he trusted me and didn't invest. Sooo everytime I see him, he is a kind of pointing on the new Ath of this "shit coin". is this bitcoin vault real thing? Do I have to apologize for my ignorance?
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08-02 07:24 - 'Bitcoin or wtf is Bitcoin Vault' (self.Bitcoin) by /u/protestersunited removed from /r/Bitcoin within 590-600min
''' My friend is new to bitcoin, he was suggesting some months ago to invest in bitcoin vault because some friends of him told him to do so. Since then it is rising like hell. Initially I told him it looks like a scam but he has to know. I told him everything he knows about bitcoin and he trusted me and didn't invest. Sooo everytime I see him, he is a kind of pointing on the new Ath of this "shit coin". is this bitcoin vault real thing? Do I have to apologize for my ignorance? ''' Bitcoin or wtf is Bitcoin Vault Go1dfish undelete link unreddit undelete link Author: protestersunited
10-08 19:04 - 'There's a WTF is Bitcoin event going on during SF Blockchain Week. This is too good! They even got Bitcoin and Friends involved' (wtfisbitcoin.com) by /u/itshect0r removed from /r/Bitcoin within 167-177min
As of 7/20/2017 2:51PM Bitcoin is at $2736.99, up $470.99 from yesterday. When just a couple days ago it was around $1700. It seems to have been going up very quick. Is this because of FOMO? Because Segwit2x is closer to being for sure? Why the fuck is bitcoin going up so fast? In theory it should go back down alot by the weekend? Idk maybe i am just salty because i saw it at $1750 and was like "noo ill wait till 1500ish." Now i am like FML
So confused about the fork and wtf is Bitcoin Cash?
I truly apologize but I just don't get any of it. I've read the reddit flow charts and the discussions and the news articles but it still doesn't make any sense to me :'(
So bitcoin blocks have a 1mb limit which is too small to handle increasing transaction volumes. Everyone agrees we need to increase block size or fit more transactions into a block in order to alleviate this problem. I get it.
Segwit is a method of removing certain data from transactions to fit more transactions into a block. I get it. People that want this are known as the bitcoin core supporters... I think. Segwit is known as the soft fork right? So people can choose whether they want to have smaller transactions. But then wouldn't smaller transactions be cheaper for everyone, so why would there be a fork int he first place? if segwit gets voted in then surely everyone will start using it, even if they initially opposed the idea??? So how is this a fork.
The other camp, bitcoin unlimited want to simply make blocks larger right? And if that happens then a hard fork occurs, where some people use the new bigger blockchain currency and the rest use the old crappy small block bitcoin classic. But again even if people wanted segwit, what incentive would they have to keep using classic btc after unlimited gets voted in. Again I fail to see how a fork occurs.
And regarding the timeline of all of this??? There are all this Bitcoin Improvement Proposals (BIP) getting thrown around which is mighty confusing. I thought there is just one vote, where miners decide whether to choose segwit or bitcoin unlimited. So what is it with everyone saying the vote is already happening/over...... Also isn't miners being the only ones who vote really unfair?? Considering 90% of Miners are Chinese? In fact how is bitcoin decentralized at all if all it miners are Chinese???
And finally wtffffffffff is bitcoin cash...... and how is it related to segwit and unlimited?
My sincerest apologies for how dumbed down and clueless I sound.
The following post by SupremeBootyBandit is being replicated because the post has been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7yq9uo The original post's content was as follows:
I’ve heard a lot about Bitcoin and how it could be used but like I have no idea what it really is? Like is it something I should currently invest in? How do I get bitcoins?
BitcoinPrice.WTF was created as a stand-alone web app for you to bookmark and give you a quick and easy way to check the price of Bitcoin at any given time. You can convert the prices by toggling the amounts to and from BTC or USD. The prices and calculator have been provided courtesy of CoinSalad.com and their Bitcoin price API. If you found ... That’s because Bitcoin is complicated. It’s new. It’s filled with jargon no sane person cares about, and to be honest, the experts haven’t done a good enough job at making it accessible to the masses. My hope is that today that changes as I attempt to explain Bitcoin in non-technical jargon. Ready? WTF is Bitcoin? Bitcoin is money. WTF is Bitcoin Cash? In August 2017, different sects within the bitcoin mining community had a disagreement about the rules governing the mining process -- specifically, what constitutes the ... WTF is Bitcoin? Unlike a physical coin that is stored in your car’s cupholder and worth absolutely nothing (parking meters don’t even want that shit anymore), Bitcoin is a decentralized currency that is stored on the internet and worth thousands. It’s not tied to a government, which means while Trump decreases the value of the dollar by ... Wtf is Bitcoin? Why should I use Bitcoin? How many Bitcoins are there? Should I trust Bitcoin? Who are the miners? Why are Bitcoins so valuable? TODAY’S ECONOMIC SYSTEM. Everything we buy has to go through a bank or credit company. For instance, when you buy a coffee with your credit card, you aren’t paying Starbucks directly, is your bank ...
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