Quote from: mokong11 on February 07, 2018, 03:58:24 AM

Good Day mga Kuys Cheesy

I created this thread to share about basic knowledge about Bitcoin or Crypto currency specially sa mga newbie member at newbie pa talaga pagdating sa Bitcoin at crypto currency ok to kasi nasa forum tayo ng bitcoin talk at hindi lang puro pag kita ang naiisip ng mga newbie hehe. ok lets start

WHAT IS BITCOIN??

I asked other people about bitcoin if they know it at karamihan ay hindi pa talaga alam kung ano nga ba ang bitcoin at kung para saan at kung ano gamit nito well here's the answer:

Bitcoin is an open source, p2p form of digital currency. What exactly does that mean? With Bitcoin, we have a peoples currency for the first time with no government or central figure controlling things like interest rates or inflation. Bitcoin transactions cant be reversed, so users can receive payments without having to worry about chargebacks and the fees associated with them. At the same time, this feature means that you need to be careful with your coins; if you lose them, you cant get them back. Because Bitcoin is peer to peer, fees for transactions are extremely minimal or even free.

Bitcoin takes a deflationary model. Only 21 million bitcoins are ever going to exist. There are no replacements, so lost coins are gone forever, making the supply even more scarce. This means that bitcoins will actually increase in value over time, unlike fiat currency that lose more and more value every year. credit-http://bitcoinist.com/knowledge-base//color]

Why use Bitcoin?

Bitcoin saves on fees. Merchants will sometimes pass these discounts onto their customers. One good example of this is Gyft, where you have a 3% discount when using Bitcoin to purchase gift cards.

Another excellent example of enticing customers to use Bitcoin is purse.io. Purse.io allows you to purchase anything off of Amazon, and set a discount of your choosing that is between 10% to 30%. 10% discounts on orders are guaranteed to be filled within 24 hours, and other amount discounts should be filled in relatively quickly.

You can find bitcoin accepting shops in directory sites for example here: Find bitcoin shops, markets and links

Besides saving money with merchants, sending money has never been easier. With the ability to send Bitcoin quickly and cheaply around the world, remittance services are running for their money.

Bitcoin also allows you to do many things that you couldnt do conventionally. Because of the blockchains features, such as recording transactions permanently, you could for example sign documents proving that it is indeed yours.

You can also use multi signature wallets, with multiple people having to agree to a transaction before a transaction is made. This allows for small businesses to keep their money more secure. Multi signature wallets are ideal for companies that store their bitcoin and want to prevent someone from stealing funds. While they are typically more clunky to use, multisig wallets offer the security needed to prevent bad actors from harming the organization.

With Bitcoin you can implement a brain wallet. A brain wallet consists of a long phrase of letters that you have memorized. With this phrase you can access your Bitcoin from anywhere. It really is quite impressive that you can store money with essentially nothing but your brain.

Many people see Bitcoin as an investment vehicle. Bitcoin is essentially a high risk-high reward investment, on a scale like no other. Bitcoins value can fluctuate by over 30% on a daily basis, making a good target for day traders seeking a quick profit. All investing, however, involves risk/color]

How to use bitcoin??

Before you can use Bitcoin, there are two things you need. First is a wallet. A wallet is an application that runs on your computer, in the web, or on your phone. Wallets store your private keys and addresses. These are two fundamental parts of what makes a bitcoin transaction work, so make sure you have a working and up to date wallet before proceeding.

The second part you will need is bitcoin itself. There are a multitude of ways to get bitcoin, from buying them outright at exchanges to receiving them from selling goods or services.

How to keep your Bitcoin safe??

There are several ways to store your bitcoin, whether its in a lightweight wallet for easy transactions or beefier wallets with advanced features and extra security. There are even dedicated hardware wallets that sign transactions and keep your private keys secure, even on a compromised computer.

Then there are cold storage wallets, or offline wallets. These are used primarily for long-term storage, and are only brought online when you need to pull funds from them. These are normally printed out, and kept in a secure location so you can, at a later time, access the wallet.

Keeping offline on something more durable than paper is highly recommended, perhaps a laminated QR code or even a metal card. This insures accurate QR scanning and deters etching or other marks that could make reading the inscribed keys or QR codes difficult.

You can also send and receive bitcoins on a mobile device. QR codes, as well as NFC in the foreseeable future may be implemented to allow for even easier sending and receiving of Bitcoin than QR codes.

Lastly, there are online wallets. Most of them require you to trust a company because they are holding your bitcoins, with blockchain being a major exemption in that you store your private keys even though its online. Some people see this tradeoff just fine, as youre able to access your wallet anywhere, assuming you have an internet connection. Some people dont however, and believe trusting other people is against the principle of decentralization and what Bitcoin stands for. In the end, its all about what you value more. Convenience or security.

There is a difference between a hot wallet and online wallet, while online hosted wallets require trust in a third party, hot wallets can be user controlled yet the wallet is still actively connected to the network and ready to send Bitcoin on a moments notice.

What is 2FA

2FA, or Two-factor Authentication, is a popular option for securing sensitive information. 2FA was originally created for use outside of cryptocurrency, and has recently been adopted by cryptocurrency services.

2FA adds a second layer of security to online accounts, making users prove that they are the real owners of the accounts they are trying to access. With 2FA, a second password or one-time code is used. This 2FA code is usually sent via SMS, email, or mobile app.

For 2FA to be effective, your cellphone should also be encrypted. This ensures that even if hackers obtain your password, they would have to physically steal and access your cell phone as well to get into your account.

Many exchanges and mining pools use 2FA and they should. Security and privacy are two factors which must be balanced by companies to meet consumer demands.

Security doesnt stop at 2 factors of authentication. Its possible to add extra factors of security, whether thats using many people in implementations like multi signature wallets, or biometric features such as fingerprint scanners. The possibilities are endless, and each consecutive factor increases security.

There are many phone apps that allow you to easily enable 2FA on supported accounts. The process is usually done by enabling 2FA, scanning the QR code, and then finally confirming the code.

After its setup, you will have to enter a code that the app provides every time you login to your account. This is an excellent deterrent against hackers and other infiltrators trying to access your sensitive information. The extra 15 seconds or so to check your phone for the code is definitely worth the added peace of mind 2FA can offer.

What is BLOCKCHAIN??

Arguably more important than Bitcoin is the blockchain. The blockchain is the public ledger for Bitcoin, and keeps track of every transaction made. This is publicly available, and anyone can view it.

Many things can be built on top of the Bitcoin blockchain, such as colored coins. These still have the security and basic features of Bitcoin, but they can represent completely different things. Blockchain technology is still being explored by both software developers and entrepreneurs looking to build on the protocol and establish new products and services. Blockchain technology has the ability to shape the financial industry going forward and will pave the way for new applications which empower individual users.

Bitcoins network is maintained in a decentralized manner, with everyone pitching in. The ability for a single entity to control the network is discouraged, with someone needing 51% or more of the mining power to attempt this. There is little to no incentive for trying to control the network due to the huge cost of attempting to stage such an attack, and the fact that there would be no benefit for the attacker.

Bitcoin is also pseudo-anonymous. Using bitcoins keeps your transactions safe as its more difficult to track transactions going from a string of digits to a different string of digits (addresses). You can even use mixers or other services to make your transactions harder to track. Bitcoin isnt designed to be a completely anonymous technology, but rather one that empowers individuals and allows them to take control of their own finances.

That are the basic knowledge we need to know kung talagang papasukin mo ang crypto currency specialy Bitcoin. Hope na nakatulong sa mga bago palang talaga sa larangan ng bitcoin katulad ko so sharing thoughts lang. You can visit the site guys para mas marami pa kayo matutunan actualy hindi lang yan marami pa talaga dapat matutunan so yun lang. Grin

GOD BLESS keep earnings.

sir ask ko lang po kapag may mga tokens and coins ka na tapos na exchange mo na into peso papano po yong proseso tsaka pano nila yon pinapalit,diba po maraming tokens and coins yong iba nga wala pang value papano po yong value,papano nagkakaroon?

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