Bitcoin for Beginners 19|20 (Include Case Study Today).

Recap, Rehash, Refresh and Resharing for anyone that is already involve and for Beginners

Bitcoin for Beginners 19|20

Article Covering

1. Eight Common Bitcoin Scams
2. Eight Facts about Bitcoins
3. FAQs about Bitcoins and Where to Find Out More
4. Making Money with Bitcoins
5. Other Digital Currencies
6. The Pros and Cons of Using Bitcoins 7. What Are Bitcoins and How Do They Work?
8. What Does “Mining” Mean?
9. Where to Get Bitcoins and What to Buy with Them
10. Who Uses Bitcoins?


1.) Eight Common Bitcoin Scams

Bitcoin is a type of cryptocurrency or digital currency in which units are generated via encryption techniques. It’s a type of peer-to-peer transfer called mining. It’s not backed by the government or any regulatory body.

It’s ripe for scams since there is no real regulation on it, and in some people’s mind bitcoin is a huge scam in and of itself. But, if you want to get involved with the cryptocurrency trend, be aware of these common bitcoin scams.

1. Fake Bitcoin – The way this scam works is that someone offers to pay you for something with bitcoins, but you don’t know how to use bitcoin and they know it. They attempt to teach you how it works, assuring you that it’s legitimate. But in the end, they get your merchandise and you end up with fake bitcoins that are worthless.

2. Ponzi Schemes – In this scam, someone offers you an investment deal. You will give them money or bitcoins in exchange for getting a big return on investment. Sometimes these scams are very elaborate, and you’ll even be able to see your account grow until you try to cash out. Only then will you know it’s a scam because you won’t get the money.

3. IRS Scam – This scam works the same as most IRS scams. A convincing person claiming to work with the IRS calls you and says you owe a lot of money. They tell you to go to a certain website to purchase bitcoins and to pay them with the bitcoins. The truth is, you’re not really buying bitcoins and they’re not really letting you pay your IRS bill with bitcoins. Instead, they’re taking your money.

4. Switch Scam – In this scam, they want you to buy their new cryptocurrency with your bitcoins, but their currency doesn’t even exist. They claim it’s the next best thing and that it’ll out-earn bitcoin overnight. They may even have records that look like proof but it’s all fabricated.

5. Malware – You stumble on a fake site where you think you’re buying bitcoins when you’re not. You’re just infecting your computer with malware that will “mine” your computer for bitcoin units and your computer will be messed up. Plus, you’ll give them actual money.

6. The Celebrity Scam – If you’re online and see any celebrity offering “free bitcoins” or a good deal on bitcoins, it’s a scam. No one is going to give away extra bitcoins; it doesn’t make sense. If Tom Cruise says they want to give you bitcoins for a low price, you know it’s not true. Why would they do that?

7. Ransomware Attacks – If your computer gets hijacked with a threat to pay them in bitcoins to release your computer, this is a common way to get money. Obviously, it’s a scam but it’s a very easy scam to fall into. If your computer is locked up, you will be tempted to buy your way out. Don’t do it.

8. Fake Wallets – To spot a fake wallet, it’s important to ask around on social media to ensure that the wallet is real. Install the right anti-virus software on your computer to avoid any malware. Use a good wallet application yourself so that you can have multiple wallets, thereby avoiding having problems if one is compromised.

To avoid scams, it’s best to find someone you really trust who already understands bitcoin fully. They can be your mentor or guide to help you avoid a problem. Because if a mistake is made, there is no one who can help you out or give you a refund. You’re just out of the money.


Today Pattern Study


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2.) Eight Facts about Bitcoins.

Let’s talk a bit about bitcoins so that you can ensure that you know what you’re getting into before you start trying to use or buy bitcoins for your transactions. Bitcoins can be quite confusing, so ensure that you truly understand everything before you move forward. Here are eight facts to consider.

1. Bitcoin Is Programmable Money – To have programmable money, you need to have normal money. Normal money today is not backed by anything at all other than someone said it’s worth what it is. For example, a $100 US dollar bill is only worth that amount because someone assigned that amount to that paper. With bitcoin, the value is determined by the buyer and the payer, and the bitcoin is created when both agree terms have been met and the so-called miner verifies the transaction.

2. Bitcoin Is Created Via Mining – Miners use software that finds keys that open wallets or padlocks. Basically, they are transactions that are happening between people, and the miner certifies the transaction.

3. Bitcoin Has Real Value – Bitcoin isn’t fake money. It has real value. The value is determined by the users, both buyers and payers, not an outside entity. There is a protocol that has to be followed and is impossible to change.

4. Bitcoin Lets You Pay Locally and Globally – You can pay in more places than you may think with bitcoin. You can even use bitcoin online at sites like Overstock.com. You may be surprised that some of your local stores are taking bitcoin. You only need to ask.

5. No One Has Control Over Bitcoin – Bitcoin isn’t run by any person or government entity. There are rules, but the users are the only ones to enforce them. As of now, there are over 16 million bitcoins in circulation.

6. Bitcoin, Unlike the Dollar, Is Limited – There are only 21 million bitcoins and no more will ever be created. The value can go up or down, but there will never be more. This is unlike the American dollar, which the government can choose to print more at any time.

7. You Must File Taxes on Bitcoin – Technically since bitcoin has value, you must claim the dollar value on your taxes in the USA. Nearly 1000 people have done so as of 2017 taxes.

8. Don’t Lose Your Wallet – If you aren’t careful, you can lose all your bitcoins by not saving your hard drive. You’re the only one with proof of your transactions, so you must guard it carefully or you can lose it all.

Using bitcoins without losing your money can be a great way to invest and earn more money. But, before you get started it’s imperative that you learn everything you can. You can learn a lot by going to the Bitcoin.org website and reading everything you can about it. Also, find a mentor to help you navigate the new terms and money system.

Thank you.

Tangoh


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  • Solid colored t-shirts are 100% combed ringspun cotton, however heathered colors could contain a cotton/polyester blend

  • Preshrunk to minimize shrinkage

  • Double-needle sleeve and bottom hems

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