Bitcoin?

[EpicFooF]

Hello guys, I wanna know what "bitcoins" means.
I know its a currency but how does it works?

I heard u can "mine" bitcoins, what does it mean? and how do i do that?

How do I buy stuff with bitcoin?

 

[Mathew]

This will explain it the easiest I think

 

[EpicFooF]

This will explain it the easiest I think

I watched that video. it doesnt explain everything

 

[Mathew]

What else would you want to know? The mining side or?

 

[Tehker]

I dunno shit about BTC, ignore.

 

[0110110001]

Just don't go into mining, not profitable anymore, as far as I know.

 

[Mathew]

Yeah the only way of making mining profitable right now is probably invest $20,000 into asic mining machines. I prefer bitcoin over paypal as the value of it can change and its completely anonymous payments so the buyer cant chargeback.

 

[Skionz]

Bitcoin is literally almost like PayPal except their currency is BTC while PayPal's currency is USD/AUD/EURO/Etc..
Bitcoin is another form of payments, and people say you can't chargeback on it rather PayPal allows you.
It's like a wallet to store your money, but you need a bank to buy BTC so let's say 1 BTC = 659.57 USD.
Bank to verify your Bitcoin account just like a bank/card to verify your PayPal account. Sorry, I don't know any other methods other than PayPal, but there's like Stripe, etc.. Just never used those before.

For the mining fact, if you're talking about Minecraft then it's basically you mine a certain amount of blocks and you get BTC for every something blocks. If it's not related to Minecraft then I'm not sure what you're talking about mining.

Also, the reason why they have mine for BTC is just to have a player base. It's like an enticement for those people.

He's referring to bitcoin mining. Literally nothing to do with minecraft lol

 

[Tehker]

He's referring to bitcoin mining. Literally nothing to do with minecraft lol

Oh well, lmao.. Servers have BTC Minecraft Mining... Literally an enticement for player base.. Misunderstanding..