Bitcoin For Beginners

So As Of Today, What Bitcoin Related Opportunities Currently Present Themselves Preview 03:09

As you might be aware the Bitcoin ecosystem has evolved hugely since its inception a few years ago, it really is hard to believe that Bitcoin was conceived just a few years back. But right at this moment in time, there are so many ways to be involved in the Bitcoin ecosystem, in my opinion more than any other time previously.

The First And Most Simplest Way To Be Involved With Bitcoin Is As A User Preview 01:39

In this lecture we’re going to start by discussing the most simplest way to get involved in Bitcoin. That’s being a user! So being a user is I’d say the most important part of the ecosystem, so lets discuss how you can take on this role.

The Second Way To Be Involved With Bitcoin Is As An Educator Of The Currency Preview 02:24

As I’m doing now with you, you could also become an educator on the area of Bitcoin, but within your local community. That’s where I started!

Marketing Bitcoin Online And Offline Is The Third Way To Get Involved With It Preview 03:34

Lets now move onto an aspect that’s very interesting indeed, as there are so many ways you could do it. It’s all about becoming a Bitcoin marketer. So this is another option where the barrier to entry is relatively low, and there are notable individuals out there earning well through marketing Bitcoin.

Ever Heard Of A Faucet? Well That’s The Fourth Way You Can Get Involved Today Preview 04:20

I’d like to start this lecture by asking a simple question. Do you know what a Bitcoin faucet is? If you do, great! You may pick something up extra from this lecture. If not, also great, as you’ll learn about the opportunity that exists with Bitcoin faucets.

The Fifth Way To Get Involved With Bitcoin Is By Mining, Which Is Very Important Preview 03:24

Now you may be aware that you can actually mine Bitcoins, and essentially create your own money! If you’ve heard that, let me talk to you about how you can get involved with mining.

You Can Also Become A Bitcoin Investor, And Profit From The Volatility Preview 03:19

Becoming a Bitcoin investor is perhaps one of the most popular ways to get involved in the Bitcoin ecosystem. It’s something where the barrier to entry is relatively low, and you can do it instantly.

ASSIGNMENT 2 - Now My Question Is, What Role Will You Be Playing With Bitcoin? Preview 01:46

Now here comes the question for this assignment, that all important question. What one, or multiple roles do you want to be playing in the Bitcoin ecosystem?

Bitcoin Is Cited As Being Open Source Software, Let Me Explain What That Means Preview 03:12

In this section I want to get a bit more technical with you, and help you understand the technical elements behind Bitcoin. So if you weren’t aware, Bitcoin is a form of open source software, and was launched back in 2009. Right now I’m going to explain what open source software is so you can understand Bitcoin technically.

If You’ve Ever Wondered What Cryptography Is Let Me Break It Down For You Preview 02:09

Are you aware of Cryptography? Do you know what it actually is, as Bitcoin is a form of it. So if you’re are unaware of what Cryptography actually is, lets jump into explaining it now.

Let Me Explain What Makes Bitcoin A Decentralized Network Over A Centralized One Preview 03:02

Now Bitcoin is a decentralised network, over a centralised network. It’s crucial to its success. So in this lecture lets go over why this decentralised network trumps a centralised network.

I Want To Introduce You To A New Term While You’re Here And It’s Smart Contracts Preview 02:38

Imagine now a technology that would let you simply your mortgage and credit agreements, and potentially bring their rates down? This is just potentially a small piece of what smart contracts can, and will do in the future. So lets get into the nitty gritty and talk about how they work.

I’m Sure You’ve Heard That Bitcoin Is Anonymous, But Just How Anonymous Is It Preview 01:27

This lecture may surprise you, as I’m sure you’ve been told Bitcoin is anonymous. So without any further suspense building, let me show you all how anonymous Bitcoin is.

Let’s Now Experience The Blockchain Together And Go Over Why It’s So Crucial Preview 01:31

We touched on the blockchain in the last lecture, so lets explore it together in this lecture.

If You’re Interested In Reading The Bitcoin Whitepaper It Can Be Accessed Here Preview 00:59

If you’re interested in reading the original Bitcoin white paper I’ll show you how now.

The Technical Elements Of Bitcoin

In this quiz you'll be tasked with answering 5 questions, all of which are related to this section on The Technical Elements Of Bitcoin

When You Want To Spend Bitcoins Online, This Is How The Transaction Works Preview 03:41

What I’m going to do now is show you how a Bitcoin transaction works, before showing how to buy. Now most transactions work in a similar way whether you’re buying, receiving and so on. So lets jump into showing you how it all works now, so you understand the process.

You Can Buy Bitcoins At Any Of These Recommended Places Online Very Easily Preview 02:20

Some sites for buying Bitcoins are specific to certain countries, but there is one for you. In this lecture I’ll be showing you sites to use, and how to search for specific sites.

If You Want To Buy Bitcoins With PayPal, Let Me Show You How To Do That Here Preview 01:37

This is still a question that’s asked often, how do you buy Bitcoins with PayPal? Of course you can just buy them from eBay, there are lots of sellers offering such service. A very well known method to buy Bitcoins with PayPal is through a site called Virwox. I’ll show you how it works!

ASSIGNMENT 3 - Start Using This Bitcoin Faucet To Get Your First Bitcoin Pieces Preview 01:30

Welcome to the third assignment, all about getting your first piece of Bitcoin. You won’t be paying for this, you’ll be gaining it from a faucet which we touched on earlier. So lets now jump into getting your first piece of Bitcoin.

Is Bitcoin Actually Used In Daily Transactions, Or Just For Investment Purposes Preview 02:17

Many people think that those who buy Bitcoin do just so for investment purposes, however that is not totally true. Many do use Bitcoins in regular transactions so let me shine a light on this side of Bitcoin for you.

Bitcoin Is Often Referred To As Digital Gold, But Just How Similar Is It To Gold Preview 03:19

If you weren’t aware, Bitcoin is often referred to the Gold 2.0, so the modern day gold. There are six main ways that Bitcoin and Gold are similar, we’ll get into all of that in this lecture.

Why Is There A Shift To People Seeing Bitcoin As Safer Than Fiat Currencies Preview 01:34

It may surprise you that certain people in this world see Bitcoin as safer than there currency. I’m going to go into the exact reasons as to why they believe it in this lecture for you.

Here Is Where The Trust Is Placed With Traditional Currencies, And With Bitcoin Preview 02:05

Following on from the last lecture I want to show where the trust is with Bitcoin and Fiat currencies. So lets jump into explaining all of that now, before doing the quiz for this section.

Bitcoin VS Traditional Currencies

In this quiz you'll be tasked with answering 5 questions, all of which are related to this section on Bitcoin VS Traditional Currencies.

Let’s Ease Ourselves Into Bitcoin Mining With This Introduction To It Preview 01:40

Welcome to this section of the course which is all about mining Bitcoins, it’ll be interesting for sure. What I’m going to do In this lecture is share some general insights on mining, then go more in-depth later.

These Are The Different Types Of Bitcoin Mining Hardware You Need To Be Aware Of Preview 03:22

In this lecture we’re going to cover the four most popular mining hardwares. By the end you’ll have a clear understanding of why some hardwares are now obsolete.

The Bitcoin Block Halving In 2016 Impacted Miners, Lets Discuss The Impact Preview 01:34

One of the biggest recent events in Bitcoin was the block halving, as it effected mining. In this video I want to talk a little more about this event with you, and what it meant.

Here’s A Big Mining Debate, Should You Mine Bitcoins Solo Or In A Mining Pool? Preview 02:57

This is a very popular question among those getting started with mining, go solo or go down the route of pool mining? In this lecture I’m going to discuss the pro’s and con’s of each with you.

What About Joining A Cloud Mining Provider To Start Mining Bitcoins? Preview 02:49

Here’s a controversial topic, cloud minding, should you join one? I’m going to go over cloud mining in this lecture with you so you fully understand it.

ASSIGNMENT 4 - Let Me Show You How To Mine Bitcoins From Your Very Own Computer Preview 06:22

For this assignment in the course I’m going to show you how to use your computer to mine BTC. If you do this for a long period time you will need a fan to cool your computer down. With no fan it could damage your computer, I’d say for this it’s best to use an unused computer as uses lots of power.

Let Me Explain Why Stores Accept Bitcoin, Because It’s Not For Financial Gain Preview 01:20

As you’ll notice from the title of this lecture I want to explain to you why stores accept Bitcoin. The simple answer is that they accept it for more revenue, but there’s also a more important reason than that, so lets jump into explaining it.

If You Buy Off Amazon, How Would You Like To Save Money By Spending Bitcoins Preview 01:44

Now if you’re a keen Amazon shopper, let me introduce you to a site in this lecture called Purse. This site will enable you to save up to 15% off all your purchases by shopping with Bitcoin.

If You’re A Keen eBay User, You Can Use Bitcoin Alternatives And Grab A Bargain Preview 01:17

If you enjoy searching the web for a bargain using eBay style sites, you’ll enjoy this lecture. So lets jump into this lecture and i’ll show you a few marketplaces you can use with Bitcoin.

Here’s A Way To Find Hundreds, And Thousands Of Other Sites That Accept Bitcoin Preview 01:05

So there maybe a time when you struggle to find something you want to spend Bitcoins on. But there are sites that act as a directory which list places to spend Bitcoins which I’ll show you now.

Comprehensive List Of Popular Bitcoin Merchants You Can Spend Bitcoins With Preview 02:03

How To Spend Bitcoins Online

In this quiz you'll be tasked with answering 5 questions, all of which are related to this section on How To Spend Bitcoins Online.

This Is The Process You Will Go Through When You Sell Your Bitcoins Online Preview 01:05

In this section I’m going to walk you through how to sell your Bitcoins, and potentially profit. But before we do, I want to touch on the ways I’m going to discuss in this section.

You Can Profit From Selling Your Bitcoins But It All Depends On When You Sell Preview 01:59

It’s true you can profit from selling your Bitcoins, but it all depends on when you buy and sell. In this lecture I just want you to be aware of the price charts available to you, lets jump into that.

If You Choose To Sell Your Bitcoin In Person Then This Is How To Do Just That Preview 02:18

It’s also possible to sell your Bitcoins face to face, and meet with a buyer in your local area. This is a popular way still to buy and sell, so let me go into how it works for you.

I Want To Show How To Sell Your Bitcoins On Exchanges Which Is A Popular Method Preview 02:36

The next method for selling Bitcoins, which is super popular, is exchange trades. So in this lecture we’re going to discuss how you can get started with selling on exchanges.

You Can Also Sell Your Bitcoins Through Peer To Peer Trading Which Is Popular Preview 01:52

In this lecture I want to talk about peer to peer trading, so selling through this peer to peer method. Now this is a relatively new method, but it’s a very up and coming method. So lets jump into this now, and I’ll show you how it all works.

How To Sell Your Bitcoins

In this quiz you'll be tasked with answering 5 questions, all of which are related to this section on How To Sell Your Bitcoins.

[Part 1] Francis Pouliot Of The Bitcoin Foundation Canada Preview 19:39

Part One - Listen to me interview Francis of the Bitcoin Foundation Canada. Learn about his thoughts and opinions on Bitcoin around the world, and in Canada. Learn about Francis's opinions on the future of bitcoin.

[Part 2] Francis Pouliot Of The Bitcoin Foundation Canada Preview 19:30

Part Two - Listen to me interview Francis of the Bitcoin Foundation Canada. Learn about his thoughts and opinions on Bitcoin around the world, and in Canada. Learn about Francis's opinions on the future of bitcoin.

[Part 3] Francis Pouliot Of The Bitcoin Foundation Canada Preview 16:35

Part Three - Listen to me interview Francis of the Bitcoin Foundation Canada. Learn about his thoughts and opinions on Bitcoin around the world, and in Canada. Learn about Francis's opinions on the future of bitcoin.

[Part 1] Marc Warne Of Bittylicious Preview 14:44

Part One - Listen to my interview with Marc of Bittylicious. Learn how Marc has built a Bitcoin business up which has now traded more than £8M worth of bitcoins.

[Part 2] Marc Warne Of Bittylicious Preview 18:37

Part Two - Listen to my interview with Marc of Bittylicious. Learn how Marc has built a Bitcoin business up which has now traded more than £8M worth of bitcoins.

[Part 1] Henrik Hjelte Of Chroma Way Preview 16:29

Part One - In this lecture I interview Henrik who is the co-founder of Chroma-Way. They have built up a business around the idea of colored coins. Listen their thoughts on the world of cryptocurrencies.

[Part 2] Henrik Hjelte Of Chroma Way Preview 15:12

Part Two - In this lecture I interview Henrik who is the co-founder of Chroma-Way. They have built up a business around the idea of colored coins. Listen their thoughts on the world of cryptocurrencies.

[Part 1] Eric Spano Of Bylls Preview 19:10

Part One - In this lecture I interview Eric who has created a business in Canada which allows people to pay their bills with Bitcoin. He wants to bring bitcoin into the lives of everyone, through a regular task.

[Part 2] Eric Spano Of Bylls Preview 17:21

Part Two - In this lecture I interview Eric who has created a business in Canada which allows people to pay their bills with Bitcoin. He wants to bring bitcoin into the lives of everyone, through a regular task.

[Part 1] Diego Gutierrez Zaldivar Of The Bitcoin Argentina NGO Preview 16:58

Part One - Diego is a pioneer of Bitcoin in Argentina. He has managed to turn the image of Bitcoin around, and to this day continues to promote its benefits. Listen to his thoughts on the future of Bitcoin.

[Part 2] Diego Gutierrez Zaldivar Of The Bitcoin Argentina NGO Preview 15:44

Part Two - Diego is a pioneer of Bitcoin in Argentina. He has managed to turn the image of Bitcoin around, and to this day continues to promote its benefits. Listen to his thoughts on the future of Bitcoin.

[Part 3] Diego Gutierrez Zaldivar Of The Bitcoin Argentina NGO Preview 16:31

Part Three - Diego is a pioneer of Bitcoin in Argentina. He has managed to turn the image of Bitcoin around, and to this day continues to promote its benefits. Listen to his thoughts on the future of Bitcoin.

Course Updates Are Coming Preview 00:53

Cryptocurrency Payouts Halted Preview 00:21

This Is An Overview Of The Blockchain Which Is Crucial To Bitcoin Preview 01:01

So the blockchain is the public ledger of all of the bitcoin transactions that have ever taken place. As a result, the blockchain is ever evolving and growing, with new ‘blocks’ added as they happen.

Each computer that is connected to the Bitcoin network receives a copy of the blockchain, which is automatically downloaded upon joining the network. The blockchain is home to every piece of bitcoin information – including the public addresses and balances of traders and miners.

Lets Go In Depth Into How The Blockchain Operates With Bitcoin Preview 01:52

Let me explain to you now how the blockchain works, especially for those of you who are very new to the world of bitcoin. So the blockchain acts as a permanent database of bitcoin transactions across the globe.

A block is the up-to-date part of a blockchain which records the transactions, and once the block is complete it gets added to the chain.

Want To Bring Your Bitcoins Into The Real World, Now You Can Preview 02:05

We’ve gone through the various forms of ‘e-wallet’ available for storing your Bitcoin, but what about paper wallets? All you need is a printer to give your bitcoins a more physical presence and a new way to keep them safe.

A Bitcoin wallet, stored either online or on a PC, is probably the most user-friendly and efficient way to store your bitcoins. Each Bitcoin wallet consists of two keys; one of which is your wallet’s address, the public key, and the other which is the private key.

Bring Your Bitcoins Into The Real World By Following These Instructions Preview 02:17

There are some basic rules for keeping your paper wallet safe and away from prying eyes:

1. Don’t let anyone see your wallet

2. Print your wallet from a printer not connected to a network (if possible)

3. Store in a dry place, preferably in some kind of plastic bag ...

When You Buy With Bitcoin, This Is How The Transaction Works Preview 04:14

The thing that worries some people about online Bitcoin transactions is that every aspect of the process takes place digitally, and while every trade can be traced through the network many still find it hard to buy and sell things that essentially don’t exist.

But there really is no need to worry: details of each and every Bitcoin are stored in the block chain, and as long as your unique keys are stored safely then everything will be fine.

Enough With Buying Bitcoins, Lets See Where You Can Spend Them Preview 07:07

So now you’ve purchased your first Bitcoins, and got them kept safe and secure in your chosen wallet, you’re probably wondering what to spend them on!

The increase in the amount of retailers accepting Bitcoin as payment has been incredible in the past year or so; with over 30,000 businesses and charities now also registered. And this trend is set to continue.

These Are The Online Businesses That Are Embracing Bitcoin Preview 02:18

Unsurprisingly Bitcoin adoption has proven particularly popular with businesses operating online. These range from web hosting companies and domain providers.

If gambling online is your thing then there are quite a few websites that enable you to change your bitcoins for their own in-game currency. The most popular of these include Satoshi Dice, Peer Bet, Just Dice and Bet Coin.

If You Are Going Travelling, Then Bitcoin Will Be Your Best Buddy Preview 01:13

So if you’re travelling to another country then you can pay for goods and services with Bitcoin and avoid the hassle of having to exchange currencies and pay taxes and commissions on these. You could soon be able to travel without any paper money whatsoever.

Buying A Birthday Present? How About Giving Them A Bitcoin Gift Card Preview 00:45

An efficient way of turning your bitcoins into ‘real’ currency to spend is via gift cards. Companies like Gyft, Gift Card Zen, iTrade and eGifter will transform your Bitcoin into currency which can be accepted in many big name retailers like Amazon, Nike and Walmart.

This Is What You Need To Follow To Accept Bitcoin As A Payment Option Preview 06:50

The only slight downside of Bitcoin at the moment is the quite sparse amount of merchants that recognize it as legal tender. This number is certainly growing, and you can still purchase pretty much anything with this digital currency. But you could argue that there is a lack of choice out there.

Once more businesses start to adopt Bitcoin then you can expect it to become a much more mainstream currency. So if you’re thinking about accepting bitcoin payments then here’s how you go about it...

What's Your Hash Rate? Let’s Go Over It So You Have An Understanding Preview 02:29

The hash rate is extremely important in mining, it’s the number of calculations your chosen hardware can perform each second as it tries to produce the mathematical equation required for Bitcoin mining.

Hash rates are measured in units from megahashes to gigahashes and through to the ultimate: terrahashes. Simply put; the higher your hash rate, the more likely – and quicker - you will be in solving the mathematical equation to complete a transaction block.

How To Accurately Calculate The Profitability Of Bitcoin Cloud Mining Preview 01:34

It is still possible to calculate the profitability of cloud mining using tools such as The Genesis Block. There are no hardware outlays and no excessive electricity bills – just your monthly ‘rental’ costs.

To work out your profitability, you’ll need to:

1) Write down your monthly running cost

2) Divide it by 0.744 (the conversion factor)

Lets Compare Bitcoin And Litecoin And See Where The Differences Are Preview 04:11

This part of our course compares the differences between the two most widely-used cryptocurrencies – litecoin and bitcoin.

The world’s first cryptocurrency was bitcoin, which was released by Satoshi Nakamoto back in 2009. Ever since then, investors and miners have been working furiously to get their hands on as many bitcoins as possible. But as its popularity increased so too did its price, and many altcoin enthusiasts were left looking for a more profitable alternative.

Interview With Brian Hoffman of OpenBazaar Preview 3 pages

OpenBazaar is a decentralized peer to peer marketplace that allows you to freely buy and sell and more online without relying on a corporation or service to exist. OpenBazaar puts the control back in users' hands rather than a corporation or centralized business. There is no one to charge fees or censor listings and the use cases are as limited as the imagination of our contributors.

Interview With Elyse Petersen of TeaLet Preview 3 pages

Tealet is an online farmers market for tea. Independent tea growers are connected directly to their retail and wholesale buyers. Tealet serves as a transparent supply chain platform that provides optimized online marketing, international logistics, and low costs payments via cryptocurrency.

Interview With Nubis Bruno of BitEx Preview 3 pages

Bitex is a financial service provider helping people and businesses adopt bitcoin in Latin América. We run an open exchange at bitex for traders and investment funds, and conect a bitcoin which helps people acquire their first bitcoins easily. We're also always approaching big and medium businesses in the region so that they start accepting bitcoin while mitigating bitcoin's volatility risk.

Interview With Vadim Telyatnikov of AlphaPoint Preview 3 pages

AlphaPoint provides the financial technology infrastructure that powers digital currency exchanges in over 15 countries (with more on the horizon) across the globe. We work with some of the top bitcoin and altcoin exchanges at home and abroad, offering a platform that works faster than traditional exchanges – with the ability to process nearly one million transactions per second. Our main focus is to ease the adoption of digital currencies, which in turn, will change how businesses and consumers transact. The end vision is for anybody – no matter where they are in the world – to have easy access to buy and use digital currency.

Interview With Jonathan Chester of BitWage Preview 5 pages

With Bitwage, employees and users no longer need to have bank accounts. Our system enables users to have access to modern financial tools without having to lend their money to a financial institution or open an account with an intrusive service. While enabling employers to close the loop and take advantage of the efficiency of Bitcoin for the purposes of payroll, Bitwage allows anyone to bypass the slow and inefficient processes of acquiring Bitcoin through banking intermediaries. In addition, with our Bitcoin Payroll for the Individual (BP(i)) product, we allow people to be their own bank by allowing anyone to receive part or all of their pay check in Bitcoins, regardless of whether their employers sign up to our system.