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Teach me how to bitcoin

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Assume I'm an idiot. I have no idea what I'm doing. I am a 20 year old starving artist with shit credit, no useful work experience and a rather prominent speech impediment. I'm hoping that I can invest a bit in bitcoin and get a decent turnaround to fund my work. I don't mind if it takes a little while to pick up, but I don't have much to invest.

Show me what you can do, /biz/
>>
>>999538
>Assume I'm an idiot
OK...
>I'm hoping that I can invest a bit in bitcoin
No need to assume anymore.
>>
basics

public key: your "address". give this to someone and they'll be able to send bitcoin to you

private key: what you need to be in ownership of your bitcoin, don't give this shit to people unless you want your shit jacked

the blockchain: record of all transaction that take place on the bitcoin network this includes user transaction and bitcoins that are generated from mining

mining: spend your processing power from a cpu/gpu to do calculations for the bitcoin network. basically don't even bother mining

that's basically it. bitcoin is deflationary because there will only ever be a max 21 million bitcoins, no more no less.

to buy some i'd recommend circle or coinbase in the us.

if you're waiting long term just buy some and get an app to give you notifications once it reaches above a certain price, other than that forget about it/save for a rainy day.
>>
I was thinking mining but idk what the rate of turnaround would be; we're talking around $.55 per GH/s and the lowest investment I saw in regards to mining was in the ballpark of around $250-300. Does anyone have any experience in mining? Or a conversion method I can use to determine how much 500ghz would be yielding per day at the current difficulty level?
>>
you'd be yielding under a dollar a day with free electricity and i doubt this is something you have. plus next july the reward amount halves again. so your roi would be pretty much fucked unless you're counting on the price of btc to go up between now then.
>>
Go read the wiki on Bitcoin.
>>
>>999538
Coinbase or circle
>>
>>999538
Bitcoin is so 2000 and late. Ethereum is going to be where the growth in crypto will come from. Right now 1 ether is 99 cents.
>>
>>999538
1. pump it all into bitcoin
2. find out when the next dump will happen by reading on the internet the value most people are saying it will occur at
3. play it safe and dump everything 20 USD prior to the rumored dump
4. watch it tank
5. wait til it levels off
6. repeat steps 1-5 until you're as rich as you want to be

IT
IS
FOOL
PROOF

IT
PRINTS
MONEY
>>
>>999545
>>999613
>>999615
cope
>>
>>1000857
>hey look ma! Look what I posted!
Thread posts: 11
Thread images: 1


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