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binario200/myBitcoinReadme.md

Last active July 15, 2020 03:51
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bitcoin notes.
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myBitcoinReadme.md

My bitcoin notes.

Decentralized digital currency

  • Not central authority to shut down. - not central point of failure
  • no frozen accounts
  • no fees

How it works

concepts: ledger - bank statement

Blockchain

  • Decentralized ledger

  • Miner

  • Proof of work - easy to verify - add to the blockchain

    block - block of transactions

Bitcoin wallet

Use a bitcoin wallet to store, send and receive bitcoin.

  • Bitcoin address
  • Bitcoin private key

Walltet Providers

  • coinbase - stores your privates keys
  • blockchain - give tools for you to hold private keys

Ways to get bitcoin

  • get paid in bitcoin
  • bitcoin atm
  • trade bitcoin
  • localbitcoin
  • mining
  • online exchanges
  • coinbase
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