Bitcoin Explained: What Is Bitcoin, Why It Exists, How It Works
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The document provides an overview of Bitcoin, explaining its purpose, which includes removing middlemen, ensuring censorship resistance, and solving the double spend problem. It outlines how Bitcoin works through a decentralized public ledger secured by cryptography and discusses how to send, receive, and acquire Bitcoin using various methods. Additionally, it mentions other cryptocurrencies and encourages caution in investing.
Bitcoin Explained: What Is Bitcoin, Why It Exists, How It Works
- 1. BITCOIN EXPLAINED Denis Serebryakov meetup.com/ThatCrypto
- 2. Why Does Bitcoin Exist? ● Removal of middlemen ● Censorship resistance ● Solving Double Spend Problem ● Privacy
- 3. What Is Bitcoin? ● Hard Money vs. Easy Money ● Scarcity (Store of Value) ● Divisibility ● Counterfeit-Resistance ● Not Controlled by Anyone, but Math ● Decentralized (Permissionless, Censorship-Resistant, Global)
- 4. How Does Bitcoin Work? ● Public Ledger ● Validation by Everyone ● Security by Cryptography ● Immutability by Linked Blocks on Blockchain
- 5. How To Send and Receive Bitcoin? ● Wallets (Custodial, Mobile, Desktop, Hardware) ● Recovery Seed ● Private Keys (Password)
- 6. How To Acquire Bitcoin? ● Peer-to-Peer, OTC ● Bitcoin ATM ● Exchanges ● Giftcards
- 7. Other Cryptocurrencies ● Own Blockchains ● Waves Tokens ● bit.ly/thatcryptoform ● DEX
- 8. Tips ● Different Security Paradigm ● Experimental - Don’t Invest More Than You Can Afford To Lose ● Denis Serebryakov meetup.com/ThatCrypto ● Questions