Cryptocurrency Guide

By BitcoinBeginnersGuide | April 28, 2019 | 0

A Guide to Mining and Exchanging Cryptocurrency. Downloadable PDF version Cryptocurrency has only been around for 10 years since the release of Bitcoin in September 2009.  The reason it has survived is the concept of the blockchain distributed ledger that has made it almost impossible to hack. The advent of cryptocurrency came about from the need to break the ownership of money from that of governments and banks that have over the years corrupted their ownership and created crises that have affected the common man. What about the Credit Crunch of 2007 where billion dollar banks were deemed ‘too big …

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Why is Cryptocurrency Money?

By BitcoinBeginnersGuide | May 12, 2019

Definition of Money According to the leading cryptocurrency website, Coin Telegraph, the definition of money is simply, “any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context.” Where two people agree that something is currency, then that agreement allows …

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The Distributed Ledger and Blockchain

By BitcoinBeginnersGuide | May 12, 2019

The Distributed Ledger and Blockchain – The Skeleton of Cryptocurrency With your business accounts, you will have records of income, outgoings and expenses. Most of the time these days it will sit on your computer through a computerized bookkeeping system but only 20 years ago it may well have been kept in a physical book …

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Mining Cryptocurrency

By BitcoinBeginnersGuide | May 12, 2019 | 0

Mining   As indicated above you have two types of parties involved in each transaction – those buying and selling the coin and those creating and verifying the transaction. The transactional computers do this for the reward of a small sum of coins, and those transactional computers compete to ‘mine’ new coins by doing a …

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Wallets & Storage

By BitcoinBeginnersGuide | May 12, 2019 | 0

Wallets Having mined your coins you need somewhere to store them in a ‘wallet’. In this section we will look at how to store them. Wallets aren’t canvass / leather things you keep your fiat currency in, but online storage devices that are protected against theft. If you’re quite clever at cracking codes, one of …

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Bitcoin Miners

Spending Cryptocurrency?

By BitcoinBeginnersGuide | May 12, 2019 | 0

Where can you spend cryptocurrency? Cryptocurrency can be spent anywhere that two parties agree on its value. When originally developed, Bitcoin (BTC) was hoped to replace the world’s currencies as a means of exchange, but this didn’t happen so quickly as hoped. Today you can pay for goods or services with a QR code or …

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Exchanges and Trading

By BitcoinBeginnersGuide | May 12, 2019 | 0

Exchanges and Trading If you are mining cryptocurrency then an exchange is a good place to convert it into fiat or other types of coin. Exchanges are also entry points into cryptocurrency for those who do not mine (with OTC fiat – coin services). Finally there is a whole world of cryptocurrency trading that mimics …

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