21:22 UTC

What is Bitcoin?

Bitcoin is both a peer to peer network and method of payment. The interest of Bitcoin is that it is decentralized, open source, anyone can use for free. All transactions are maintained from the beginning in a public ledger and shared (ie the blockchain). Bitcoin replaces very advantageously payment methods like Paypal. It becomes very easy and fast to send money your friends across the world whenever you want, without limits and with very low costs. You control your money.

The Bitcoin project was instanced in 2009 by Satoshi Nakamoto, enigmatic pseudonym to date.

The smallest unit of Bitcoin bears his name: the Satoshi. It is 0.000 000 01Ƀ

Stay cautious as Bitcoin is an experimental project. Do that only use what you are able to lose.

Bitcoin is confidential.

To operate, Bitcoin uses a set of public and private addresses.

To access and use its bitcoins, it is mandatory to have the private address.

To send and receive payments, public addresses are only used that ensure its confidentiality.

But thanks to Bitcoin, you can also play the transparency by linking your identity to a Bitcoin address. Since transactions are public, it will be very easy to trace your activity. This can be very advantageous for certain non-profit organizations.

How to use Bitcoin?

Just install Bitcoin client software, available for all operating systems.

Use the official client has become very cumbersome to use. It soon require 100GB to download and synchronize before using Bitcoin!!!

There are thin clients for more convenient, not require download blockchain: Electrum,MultiBit,etc.

Once installed, you get a Bitcoin wallet. You can create as many Bitcoin addresses (private and public) you want.

With your wallet, you can send and receive payments easily. To receive a payment, just indicate your public address.

What to do with bitcoins?

Just like a normal currency, you can use your bitcoins to buy goods and services. Very many online merchant sites offer Bitcoin as payment.You can also bet like Betfair with BetBtc

Bitcoin is very convenient for donations. For example Wikipedia accepts Bitcoin!

You can also buy or sell bitcoins against classical currency using the exchange. There are a multitude of exchange site too: Kraken,...

For more information:

Bitcoin on Wikipedia

BitcoinTalk Forum

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