Quote from: StaffsLebowski on January 14, 2018, 11:13:09 AM

Hi All,

First post so please be gentle!. I'm trying to get familiar with crypto currency and understand 'how it works'. I've reached a block and I'm hoping someone can shed some light on a particular point.

I understand the process of using public and private keys, back from the time when Phil Zimmermann created PGP. PGP allowed a user to encrypt a file, eg: an email/file (technically, just a bunch of ones and zeros) so that when the other user decrypted the file, they would see the words/file again. Or, to phrase it another way, the encryption was just a 'wrapper' for the content - ie, the words in my email or the file I sent.

Now, if someone sent me a bitcoin, how would I know what I was looking at? With an encrypted email, once decrypted I would be able to see something (text/file) and realise that I had actually received something. But, if someone sent me a bitcoin, what would I be looking at when I decrypted with my private key? A file filled with ones and zeros? Or maybe a simple text file with words inside saying, "Hey, this is 1 bitcoin!"

Can someone shed some light on what it I actually receive when I purchase a bitcoin and how I can verify that what I have 'in my hands', is actually a bitcoin and not just a bunch of ones and zeros? I understand that the blockchain is supposed to verify what is what but, what if I wanted to pass my bitcoin directly to you without the blockchain. Again, how would I know, what I received - was a bitcoin?

Thank you for your time and patience with my lack of understanding!

Regards,

Staffs Lebowski..

This is your first post,but seems like youre more educated in crypto than mine lol..bitcoin is bitcoin once it enters youre wallet its genuine coins and not zeros or ones.

Quote from: Xester on May 02, 2018, 11:45:40 AM

To answer your question I would like to clarify this things. Every coin have its own unique set of wallets and addresses so this means that if you have bitcoins you should send it to a bitcoin address and not to other altcoin addresses. Also please do not complicate things if you receive bitcoins or any other cryptocurrency coin you will receive a number just like this " 0.36542 btc or 123.59463300 doge.

Thats what im telling OP,once bitcoin enters wallet address its real,the man looks very educated but why it seems like this small issue looks bigger for him 😂