Bitcoin For Dummies, 2nd Edition
- Length: 304 pages
- Edition: 2
- Language: English
- Publisher: For Dummies
- Publication Date: 2022-04-05
- ISBN-10: 1119602130
- ISBN-13: 9781119602132
- Sales Rank: #201890 (See Top 100 Books)
Bitcoin For Dummies (9781119602132) was previously published as Bitcoin For Dummies (9781119076131). While this version features a new Dummies cover and design, the content is the same as the prior release and should not be considered a new or updated product.
Learn the ins and outs of Bitcoin so you can get started today
Bitcoin For Dummies is the fast, easy way to start trading crypto currency, with clear explanations and expert advice for breaking into this exciting new market. Understanding the mechanisms and risk behind Bitcoin can be a challenge, but this book breaks it down into easy-to-understand language to give you a solid grasp of just where your money is going. You’ll learn the details of Bitcoin trading, how to set up your Bitcoin wallet, and everything you need to get started right away. An in-depth discussion on security shows you how to protect yourself against some of the riskier aspects of this open-source platform, helping you reduce your risks in the market and use Bitcoin safely and effectively.
Bitcoin uses peer-to-peer technology to operate with no central authority or banks, with transaction management and issuing of Bitcoins carried out collectively by the network. Bitcoin allows easy mobile payments, fast international payments, low- or no-fee transactions, multi-signature capabilities, and more, but the nuances of the market can be difficult to grasp. This informative guide lays it all out in plain English, so you can strengthen your understanding and get started now.
Understand the ins and outs of the Bitcoin market Learn how to set up your Bitcoin wallet Protect yourself against fraud and theft Get started trading this exciting new currency The Bitcoin market is huge, growing quickly, and packed with potential. There’s also some risk, so you need to go in fully informed and take steps to manage your risk wisely. Bitcoin For Dummies is the clear, quick, easy-to-follow guide to getting started with Bitcoin.
Title Page Copyright Page Table of Contents Introduction About This Book Foolish Assumptions Icons Used in This Book Beyond the Book Where to Go from Here Part 1 Bitcoin Basics Chapter 1 Bitcoin in a Nutshell In the Beginning, There Were . . . Digital Currencies? The Birth of Bitcoin But Who Is Nakamoto? Understanding What Bitcoin Actually Is Understanding Bitcoin Units Cryptocurrency or Cryptoasset? If There Is No Bitcoin, How Can It Be Valuable? Milton Friedman and the rai stones Money is belief Understanding Bitcoin Benefits Portability Verifiability Fungibility Durability Divisibility Open access Final settlement Borderless, stateless Pseudonymous Monopoly-resistant Debasement-proof Chapter 2 Bitcoin Tech Explained Understanding That There Is No Bitcoin! Discovering the Bitcoin Ledger So where is this “Bitcoin ledger”? Bitcoin uses a blockchain ledger Looking at the Bitcoin Distributed, Peer-to-Peer Network Using the Bitcoin Blockchain’s Blocks of Business Hashing the blocks The Bitcoin blockchain is “immutable” Finding Out How the Ledger Functions Your address: Where your money is stored in the ledger What’s the crypto in cryptocurrency? Public key encryption magic Messages to the blockchain Signing messages with the private key Sending a transaction message to the Bitcoin ledger Unraveling the message But you’ll need a wallet Part 2 Using Bitcoin Chapter 3 Buying, Using, and Selling Bitcoin Finding the Price of Bitcoin Your Options for Acquiring Bitcoin Bitcoin ATMs Retail Bitcoin Person-to-person trading Bitcoin exchanges “Bitcoin Back” on Credit and Debit Cards Earning Your Bitcoin Mining Bitcoin Finding Bitcoin Everywhere Selling Your Bitcoin Chapter 4 Taking Control of Your Wallet (and Hodling Your Bitcoin) What Is a Wallet? Wallets store private keys Wallets create and store keys and addresses Wallets communicate with the Bitcoin network Wallets can be hot or cold Exploring Wallet Hardware Brain wallets Paper wallets Metal wallets Hardware wallets Web wallets Dedicated full nodes Software wallets Finding a Wallet Setting Up a Bitcoin Wallet Creating and securing your first wallet Creating a 24-word seed Increasing security with a fake account Receiving Bitcoin Getting those notifications Checking your addresses Sending Bitcoin Following the money Backing up your wallet Importing (or recovering) a wallet Creating a watch-only wallet Exploring multiple-signature wallets Using the Lightning Network Chapter 5 Keeping Your Bitcoin Safe Understanding How You Can Lose Control of Your Bitcoin Grasping the Goal: Private Key and Seed Protection Making a Choice: Custodial or Private Wallet? Devising Your Cryptocurrency Safety Plan Producing powerful passwords Protecting passwords with password programs Protecting your computer Watching out for sophisticated phishing Employing two-factor authentication The dangers of 2FA The danger of SIM swaps Exploring More Ways to Protect Your Bitcoin (and Everything Else) Knowing What Happens When You Kick the Bucket Choosing the multi-sig solution Scheduling future transactions Using a digital inheritance feature Chapter 6 Investing in Bitcoin Bitcoin: Valuable Asset or Bubble About to Burst? Bitcoin’s got to rise in value! Bitcoin’s bound to bust! Understanding stock-to-flow Bitcoin: digital gold So You Want to Buy Bitcoin. . . The basic strategy — buy and hodl Dollar cost averaging Timing the market Arbitrage Other Bitcoin-related investment vehicles Don’t forget your retirement Hodling II — An Even Better Strategy The New Frontier — Other Cryptocurrencies NFTs — What’s It All About? Part 3 Getting Geeky Chapter 7 Understanding the Bitcoin Network and Bitcoin Mining The Bitcoin Network Submitting Transactions Looking at transaction fees Change address Verifying the transaction Mining for Bitcoin — the 10-minute contest Winning the Bitcoin Bitcoin Presets Chapter 8 Bitcoin Adoption in the Real World Bitcoin in the Boardroom Bitcoin in Nations When governments love Bitcoin Nations promoting crypto It’s not just the rich When the nation collapses Chapter 9 Bitcoin Botheration Bitcoin Is Too Volatile Governments Ban Bitcoin Bitcoin: A 21st-Century Ponzi Scheme The Bitcoin Bubble Bitcoin Costs Too Much to Use Bitcoin Security Risks Bitcoin Energy Usage Part 4 The Part of Tens Chapter 10 Ten Tips to Hodl and Stack Sats Invest in Knowledge, Do Your Homework Get Off Zero (B) Lower Your Cost Basis, Buy the Dip Dry Powder, or Get on Zero ($)? Run Your Own Bitcoin Node Secure your Keys, Test Seed Backups Bitcoin Price-Prediction Models Bitcoin Technical Analysis, Market Indicators, and Other Tea Leaves Slow and Steady Wins the Race Tell Everyone, or Speak Softly? Chapter 11 Ten Types of Bitcoin Resources Bitcoin Documentaries Bitcoin Books Bitcoin Guides and Walkthroughs Bitcoin Block Explorers Bitcoin Data Aggregators Bitcoin Forums Bitcoin Volatility Charts Bitcoin Foundational Documents Bitcoin Wikis Bitcoin Data Visualizations Chapter 12 Ten (Plus One) Thoughts about the Future of Bitcoin Bitcoiners Love Lindy’s Law Bitcoin’s Limited Supply Drives Price Bitcoin Adoption Coin Rush Bitcoin Adoption by Corporations Bitcoin Is Dead! Bitcoin Boom-and-Bust Cycles The Halvening and Bitcoin Price New Bitcoin “Layers” Bitcoin Lightning Network Bitcoin sidechains Bitcoin Will Get Easier Bitcoin Development and Bitcoin Improvement Proposals What Is the Future of Bitcoin? Index EULA
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