Bitcoin: Mastering Bitcoin for Beginners: How You Can Make Insane Money Investing and Trading Bitcoin

By Neil Hoffman

Discover the book which will cover everything from a simple “What is Bitcoin” to the advanced bitcoin coding, mining and bitcoin blockchain.

Now there might be some questions playing on your mind like:

• What is Bitcoin?


• Why should I care?


• What the heck is blockchain?


• Is it secure?


• What can Bitcoin do that the dollar can't?


• Who benefits?


• How can I make money with bitcoin?


• Is Bitcoin doomed to fail?

Also, are you worried that it’s too technical and that you will never understand the concepts? 
Do you suffer from future shock, but are looking for a reason to be optimistic? 
Do you see the possibility of something new and beautiful, but are unsure of it or how to articulate it to friends? Then you have found the perfect book.

In this book, we’ll look at the answers to all these questions along with addressing how I made millions of dollars trading bitcoin and other cryptocurrencies.
 

Here is a preview of what this book will offer:

• Introducing Bitcoin


• How the Bitcoin Protocol Works?


• How Bitcoin Is Different from Normal Currencies


• Understanding the Blockchain Technology


• Bitcoin Mining


• Bitcoin Wallets


• The Bitcoin Core


• The Pros and Cons of Bitcoin


• How to Buy, Sell, and Invest in Bitcoin


• How Bitcoin Can and Will Disrupt the Financial System


• Top 5 Mistakes to Avoid While Trading Bitcoin


• Real World Use of Bitcoin


• How I Became a Millionaire in 6 Months Trading Bitcoin and Cryptocurrency


• The Future of Bitcoin and the Challenges It Faces


• And Much, Much More!

“Perfect for fans of Nathaniel Popper and Andreas M. Antonopoulos.”

“I do think Bitcoin is the first [encrypted money] that has the potential to do something like changing the world.” - Peter Thiel, Co-Founder of PayPal
 

Final Words:
Even if you think you know everything discussed here, give this book a shot. It's an informative and entertaining read, and you may pick up some valuable tools and new ways of thinking you've never read or heard of before.

Would You Like to Know More?

Scroll to the top and click that buy button, and Get your copy Today!

See you inside!

• Language: English
• Publisher: Karma Publishing House
• Release date: Feb 9, 2018
• ISBN: 9781386467755

Neil Hoffman

Neil Hoffman is a young crypto millionaire, an ex-army, and an online entrepreneur. He is also a self-taught computer programmer who currently lives in Chicago. As a self-made man, he is now willing to share with the public all his learning and knowledge about blockchain technology, bitcoin, cryptocurrencies and forex trading in a collection of books.  As an early investor of Bitcoin, Neil believes bitcoin and cryptocurrencies will revolutionize the world within the next decade.  The luckiest event of his life was to meet his mentor in 2012. Thanks to his mentor he was soon able to understand the online business and especially about investing in bitcoin and other cryptocurrencies. He quickly climbed up the ladder proving all his skills and talent.  He made a fortune trading bitcoin and cryptocurrencies, he loves trading cryptocurrencies and forex and he sees it as having a huge potential to make some serious income. It is not easy as some would make you believe, but if you keep it simple, control your money management, and be consistent, then he thinks there is no reason that you too shouldn’t succeed in the world of cryptocurrency trading.  During his spare time, Neil loves to visit different places around the world, taking pictures and he really loves spending time in the gym. Want to know more? Then scroll down the page and check out the different books Neil has published...

Book preview

Introduction

Congratulations on downloading this book and thank you for doing so.

OK, so what's Bitcoin?

It's not an actual coin, it's cryptocurrency, a digital form of payment that is produced (mined) by lots of people worldwide. It allows peer-to-peer transactions instantly, worldwide, for free or at very low cost.

Bitcoin is now deemed to be the foremost payment procedure for online commerce, ardent spectators of cryptocurrencies consider this fact to be a drastic march on the trails of finance viewed on a universal scale. Experts however, spark a fresh debate around and on the matter of Bitcoin, simply the fact that majority of buyers in Bitcoin market are a bunch of speculators. Bitcoin is an ideal reflection of how cryptocurrencies can assume a shape in the imminent time, and capitalists must deem a larger perspective. The immense popularity and ever-mounting price is momentary, but dealing with the essentials regarding Bitcoin and its trivial competitors will lead to a perfect deliberation and that's going to determine its imminent future.

The following chapters will take it slow and start out by discussing the basics of bitcoin and describing how it works in simple terms so that everything is on the same page when it comes to the details. This information will then be built upon with a discussion of how bitcoin can be used successfully along with its pros and cons. Next, you will learn all about how bitcoin and blockchain technology is on track to reshape financial services and why cryptocurrency is so important to a wide swath of the globe.

From there you will learn about several different apps that are well on their way to shaping the future before taking a more in-depth look at the specifics behind bitcoin and blockchain. Then you will learn about how you can buy/sell and invest in bitcoin and how to make insane money trading bitcoin. Finally, you will learn about how I became a crypto millionaire in 6 months trading cryptocurrency and bitcoin.

There are plenty of books on this subject on the market, thanks again for choosing this one! Every effort was made to ensure it is full of as much useful information as possible, please enjoy!

Chapter 1: Introducing Bitcoin

What Is Bitcoin?

W

e live in a world where almost everything is centralized. To obtain food, most people don't go to a farm that is owned and run by a family. Instead, they usually go to a grocery store and buy food that was grown on large, corporately-owned fields in another country. The coffee that you buy was probably produced from beans grown in South America or Indonesia on a plantation owned by a large corporation. That corporation probably paid workers little amounts of money for them to work the fields. The end product of ground coffee was perhaps shipped to a centralized warehouse — say, a Folgers or Maxwell House warehouse — then distributed it to stores that are corporately owned by a central organization. If you bought the coffee at Wal-Mart, you bought it from a centralized organization that does not do commerce on a local level. 

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Unless you take care to make sure that the cloth used to make your clothes were obtained from a local place and then sewn by a local seamstress or tailor, your clothes were probably produced in the same way. The fibers used to create the cloth were probably grown on a large plantation in a poor part of the world, and workers were paid slave wages to tend to it. Another set of workers toiled in sweatshops, making pennies for their time and energy, to turn the fiber into fabric and then the fabric into clothes. By the time the clothes made their way to you, the consumer, and the centralized company that produces the clothes — say, Gap, Old Navy, JCPenney, or Nike — has made a tremendous profit.

Banks and other financial institutions run in a similar fashion. Money is generated by the United States government, either in the form of cash or interest rates. If the government wishes to increase the amount of money in circulation, it can either print more cash or lower interest rates. If it wishes to decrease the amount of money in circulation, it can either destroy cash or raise interest rates. Moreover, the central government can determine precisely how much the dollars that it creates are worth. It can devalue the dollar so that it loses power against other currency, or implement policies to increase the dollar's value against other currencies. Every move that it makes regarding fiscal policy directly impacts every person who uses dollars; the individuals who use the dollars have little say in what the centralized government is doing about the value of their dollars.

Most individuals and companies choose to keep their dollars in banks for safekeeping and growth. Those banks are again centralized locations. Some banks, like Chase and Wells Fargo, are huge conglomerations that have local branches to service customers in particular geographical areas. Other banks like local credit unions have policies designed to benefit the local economy but still are out to maintain their own bottom line. In other words, money goes to the banks so that ultimately the banks, not the individual customers can benefit.

Bitcoin presents an entirely new paradigm, a shift away from the culture of centralization so that power goes back to the individual people involved in the economy rather than to entities at the center who stand to get rich. It is a form of money that is not run by a government or a bank but instead run by the individual people who use it. In other words, it is decentralized. While there is a team of developers who are adding to the Bitcoin code and protocol, they are unable to manipulate it in any way. They don’t control it and nobody controls it. It is a revolution against the control brought about by centralization.

Bitcoin is a type of virtual currency, also referred to as a cryptocurrency. Virtual currencies are types of money that exist entirely in a digital form rather than as cash that can be carried around. It was originally conceived of as a peer-to-peer currency system, making it vastly different than fiat currencies that are regulated by a centralized government (for more information on the differences between Bitcoin and normal currencies, see Chapter 3). It is unregulated, meaning that because national governments do not issue it, they are not able to pass laws controlling it. More than just a currency, it is a movement that has empowered people to take control of their own economics and finances without having to pay taxes or governments telling them what their money is worth and what they can and can’t do with it.

Bitcoin runs on a type of technology called blockchain; blockchain was actually invented as the means by which Bitcoin would run. It ushered in a new era of computer programming in which systems can be virtually 100% hack-proof (for more information on the blockchain, see Chapter 2).

History of Bitcoin

Bitcoin was originally conceived by an anonymous individual (or group of individuals) who went by the pseudonym, Satoshi Nakamoto. On October 31, 2008, Nakamoto (who will from this point forward be referred to as a he, simply for