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Learning Bitcoin

Learning Bitcoin

By : Caetano
3 (3)
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Learning Bitcoin

Learning Bitcoin

3 (3)
By: Caetano

Overview of this book

The financial crisis of 2008 raised attention to the need for transparency and accountability in the financial world. As banks and governments were scrambling to stay solvent while seeking a sustainable plan, a powerfully new and resilient technology emerged. Bitcoin, built on a fundamentally new technology called “The Blockchain,” offered the promise of a new financial system where transactions are sent directly between two parties without the need for central control. Bitcoin exists as an open and transparent financial system without banks, governments, or corporate support. Simply put, Bitcoin is “programmable money” that has the potential to change the world on the same scale as the Internet itself. This book arms you with immense knowledge of Bitcoin and helps you implement the technology in your money matters, enabling secure transactions. We first walk through the fundamentals of Bitcoin, illustrate how the technology works, and exemplify how to interact with this powerful and new financial technology. You will learn how to set up your online Bitcoin wallet, indulge in buying and selling of bitcoins, and manage their storage. We then get to grips with the most powerful algorithm of all times: the Blockchain, and learn how crypto-currencies can reduce the risk of fraud for e-commerce merchants and consumers. With a solid base of Blockchain, you will write and execute your own custom transactions. Most importantly, you will be able to protect and secure your Bitcoin with the help of effective solutions provided in the book. Packed with plenty of screenshots, Learning Bitcoin is a simple and painless guide to working with Bitcoin.
Table of Contents (10 chapters)
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9
Index

Chapter 1. Setting up a Wallet

 

"When bitcoin currency is converted from currency into cash, that interface has to remain under some regulatory safeguards. I think the fact that within the bitcoin universe an algorithm replaces the functions of the government …[that] is actually pretty cool."

 
 --Al Gore, former Vice President of the United States

Bitcoin's potential is quickly becoming apparent in the rapidly changing world of Internet finance. In just the few short years since its launch, we have seen an explosion of interest in this new, and somewhat mysterious, Internet money. Yet, several questions quickly come to mind: How does it work? Where does it come from? How do I buy it?

In this chapter, we will illustrate, in simple terms, most of what anyone new to Bitcoin will need to know to start. We will start by covering the following core topics:

  • Buying your first bitcoin, in 15 minutes
  • Explaining Bitcoin addresses
  • Sending and receiving
  • Private keys and wallets
  • Transactions and confirmations
  • Comparing Bitcoin wallets
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