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    Bitcoin for Idiots
    Bitcoin for Idiots
    Bitcoin for Idiots
    Ebook36 pages15 hours

    Bitcoin for Idiots

    By Arthur Crandon

    ()

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    About this ebook

    This book will give you a thorough understanding of the basics of the new cyber currency, without a lot of jargon.I used to be an idiot that didn’t know about Bitcoin. Now. I am an idiot that Does know about it!
    Bitcoin changes everyday. If you want to understand it - this book will give you the latest, up to date information, plus loads of helpful links. It's updated weekly so you can be sure that what you're reading is the latest, bang up to date, info.
    It's written in a friendly, non-techie way. The author isn’t a geek, but has struggled to come to terms with this exciting new phenomenon. Follow his struggles and his thoughts on the future in this book.
    Bitcoin is at the front of the pack of digital currencies. Will it last? Can something replace it? Will it fail because of theft and fraud? Will it be outlawed because Governments are frightened of it? There are more questions than answers right now. This book will help you see through the fog and help you plan your strategy.
    Are you invested in Bitcoin right now? Be afraid, be very afraid.

    LanguageEnglish
    PublisherArthur Crandon
    Release dateMar 22, 2014
    ISBN9781310031311
    Bitcoin for Idiots
    Author

    Arthur Crandon

    Arthur is a former UK solicitor who was born and raised in Somerset. He retired to South East Asia many years ago. He is now busier than when he was working! He still practises as a lawyer and specialises in visa work and advice. In the little spare time he has he writes books and fishes.

    Read more from Arthur Crandon

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      Book preview

      Bitcoin for Idiots - Arthur Crandon

      Bitcoin

      for

      Idiots

      Arthur Crandon

      Copyright © 2014 Arthur Crandon

      Smashwords Edition

      All rights reserved.

      ISBN: 9781310031311

      DEDICATION

      My son, Thomas, has been my inspiration in all things I.T. He lives on his computer and I’m trying to keep up with him

      I would also like to thank my landlord, who forces me to work to pay the rent, and my wonderful partner, Lynnie, who spurs me on, by not feeding me when I don’t write.

      TABLE OF CONTENTS

      Here we go – useful info

      So, why do we need it?

      How do I get it?

      Looking after your bitcoins

      How do I use it?

      Bitcoin isn’t on it’s own.

      The Future.

      The Legal Situation

      Does this affect me?

      Useful Links

      ACKNOWLEDGMENTS

      Other people have had a big hand in producing this book

      Thank you very much:

      Lynnie Ceniza – for cover design

      Thomas Cloutman – for editing.

      Too many people to mention, for technical advice – but thank you all very much!

      HERE WE GO – USEFUL INFO

      Bitcoin is a digital currency, created and held electronically – it only exist in cyberspace, there are no physical coins or notes. No single person controls it. They’re produced by people all over the world running computers and using software that solves maths problems. It’s the first (but not the only) example of a growing category of something like money known as cryptocurrency.

      Let’s compare it to the usual stuff.

      Bitcoin can be used to buy things electronically, just like you use your credit card, paypal etc. So it’s somewhat like conventional dollars, euros, or yen, which are also traded on the internet.

      It has no relation to the price of precious metals, or any other valuable commodity, this is unlike the more established fiat currencies. But what really sets it apart is the lack of control by any institution or government. This is very much a double edged sword. No one controls your money, but no one protects your money either.

      Conventional currency has been based on precious metals (gold or silver). Historically, you knew that if you handed over a dollar at the bank, you could get some gold back (although this didn’t actually work in practice – all currencies have been debased for years). Bitcoin isn’t based on gold; it’s based on mathematics.

      People all over the world are using software programs that use a mathematical formula to produce new Bitcoins. The complex mathematical formula is available to anyone, free of charge. The software is also open source, anyone can get it and look at it to make sure that it does what it is supposed to.

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