Bitcoin is the first of its kind. It is a protocol, and a network. It is a currency, a commodity, a stock, a bond, a ledger, a store of value, an accounting system, a bank, a payment system ... all rolled into one system, that is global and entirely decentralized. The core strength is that it serves as a ledger for the chain of ownership for anything you can imagine, as of today (2014), this is currency.Bitcoin is based on an open source protocol created by "Satoshi Nakamoto". There are a lot of definitions surrounding it such as peer-to-peer, cryptocurrency, public key, decentralized, digital currency. It is transferred person-to-person directly with no middle-man (read: bank), the network entirely sustains itself and has no single point of failure and no central authority.

Unlike traditional FIAT currencies which are backed by a government (and the forcing of people/companies in its jurisdiction to use it), or precious metals which are backed by many things such as scarcity/does not degrade over time/is impossible to fake/has a predictable supply/etc, Bitcoin is backed solely by the network that supports it, by the people who use it, and by the companies that use it.Bitcoin takes the properties that make FIAT and precious metals useful (a definitive chain of ownership, ease of use, scarcity, etc). Yet, there is no central authority, no government, no pretty shining metal - it gets its value and usefulness by the system itself being useful and unbreakable.If you read into what money actually is, or what gives gold/silver/etc their backing ... the core of it, is usefulness and mass adoption.See: Why do we value gold? and Value of the U.S. Dollar

The blockchain is the public ledger of all transactions in the Bitcoin network, going all the way back to the genesis block . This should NOT be confused with the website www.blockchain.info which is a private company that displays lots of information about the blockchain, and provides a secure wallet.The longest chain, is always the chain that is determined to be the "valid" chain. There can be branches of chains that exist for a time, but ultimately, whatever chain becomes longest, is assumed to be the correct one.

A block simply contains all the transactions that have occured on the network which the miner adds that were unconfirmed, which then become confirmed.The Bitcoin network, uses a block time of 10 minutes. This means, that based on the amount of miners on the network (see hashrate ), the difficulty to solve each block increases, so that blocks are found - on average - every 10 minutes.This calculation is re-checked every 2016 blocks.Blocks also contain a record to both the previous and next blocks, forming a chain referred to as the blockchain. See this

A fork is simply - a change to the codebase that is accepted by the miners. This can create potentially two (or more) different paths forward. There can be what is called a Hard Fork, and a Soft Fork.A Hard fork occurs when anything running the old software is no longer compatible.A Soft fork occurs when old software can continue to run with the new changes. Typically - a soft fork requires a majority of hash power to gain control of the longest chain. If a threshold is hit, the coin will "fork" into the new version. It's possible that people could continue to run the old version (or another version) at the time of a fork, thus possibly creating two different chains that would compete for the rights to be called "bitcoin".See A Short Guide to Bitcoin Forks

The proof of work is used in Mathmatics (read here ). In Bitcoin, the proof of work is what is used to validate the next block and all blocks before it. See this

Cryptocurrencies have existed since the internet started. They were called Electronic Money, the first of which was DigiCash , but all of these failed at one important thing, that Bitcoin solved. The proof-of-work that solves the "double-spend" problem to allow decentralization. It is this key reason, that Bitcoin is the first of its kind. See: Wikipedia on Cryptocurrency Other cryptocurrencies have appeared after the invention of Bitcoin. The first most notable (as of 2013) is Litecoin which uses a 2 minute block time instead of 10, and uses Scrypt instead of SHA-256 for hashing.Many others have appeared (hundreds) - but the free market determines which have a value or not over time. Every coin other than bitcoin, is called an Alt-Coin.

Nobody really knows. It is a person/group who designed the Bitcoin protocol which went live in January of 2009. The real information behind who it was is a mystery, but there have been quite a few speculations. In Japanese Satoshi translates into "clear-thinking; quick-witted; wise." "Naka" can mean "inside" or "relationship" while "moto" is defined as "the origin; the cause; the foundation; the basis." So we have "clear-thinking" "inside" "the foundation." You can find more information here: https://en.bitcoin.it/wiki/Satoshi_Nakamoto On March 6, 2014 - Newsweek broke a story claiming to have found Satoshi Nakamoto. You can find the article here: link . However, the community seems to have disproved that this data is correct.What is known, is that whoever (or whatever) Satoshi Nakamoto is/was, about 1 million bitcoin were mined to addressed used by that person/team.

The Bitcoin network itself is based upon the original Protocol. It is this network, which makes up the basis of Bitcoin. The initial (2009) usage for Bitcoin, is as a form of Digital Currency to replace government backed, centralized currencies (FIAT). You can read the whitepaper of the network here: bitcoin.pdf The first block - called the Genesis Block - was mined on January 3, 2009.This block contained the text "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" - so it could be proven that the block was not pre-mined and occurred on or after this headline.

The Bitcoin protocol was developed by Satoshi Nakamoto. It is the protocol (think - HTTP to render webpages, SMTP to transfer e-mail, TCP/IP for all computer to computer communications, SOAP for the transfer of data between dis-similar networks, etc) which runs the Bitcoin network, which - at it's core - is simply a decentralized means of tracking ownership of a "coin" - that "coin" can have an unlimited number of real world associations.This was created as an open-source protocol, meaning, anyone can submit work for review to be included in the protocol and no single person "owns" the protocol. As a protocol, any number of future possible applications can be built on top of it.It also means, that anyone can review the code of the protocol, change it themselves, and create their own work using this protocol as a basis - creating a new, entirely seperate, system.The active running protocol for the anything using the Bitcoin Protocol - is the version that is most widely used by all running mining nodes in the network. The current version (2016) of the Bitcoin Protocol that is most widely used is maintained by the Bitcoin Core team.Other notable implementations that run the same base software (and thus, the Bitcoin Protocol) are:On August 1, 2017 - Bitcoin was forked (see Hard Fork ) and a second coin was made (some people refer to this as the original coin tho) - that coin was named Bitcoin Cash.The Bitcoin Cash version uses the Bitcoin ABC implementation.Anyone who held Bitcoin on August 1, 2017 - then held both Bitcoin and Bitcoin Cash. Bitcoin Cash later forked again itself into Bitcoin Cash (ABC) and Bitcoin SV (Satoshi's Vision) on November 15, 2018.You can read more about the protocol here: https://en.bitcoin.it/wiki/Protocol_specification

How do I get Bitcoin?



1. Buy it by converting an existing FIAT currency for it.

2. Be a Merchant that accepts it for goods or services.

3. Mine it

4. Receive it as a gift



Regardless of the method of obtaining it, Bitcoin is sent to a public address that you own the private key for. How do I buy Bitcoin?

However there are many others you can purchase from, like

The other alternative is from an exchange like

Another method, is to buy it from another person. You can do this with your friends, or setup a meet with someone on a website such as You buy bitcoin via an exchange, or from another person. If you live in the US, the best option is Gemini.However there are many others you can purchase from, like Snapcard , etc.The other alternative is from an exchange like Bitstamp . Many exchanges will tie to your bank account and transfer funds using ACH transfers, which you then use to purchase coins at the current exchange rate.Another method, is to buy it from another person. You can do this with your friends, or setup a meet with someone on a website such as LocalBitcoins What Exchanges are good to use?

Exchanges's I've used are:







Bittrex



Failed Exchanges have been:







Up until 2014 - the most used Exchange was Mt. Gox which was based in Japan - it however, was proved to not be solvent and closed in January 2014.Exchanges's I've used are: Poloniex - used for many newer Alt-Coins Gemini - run by the Winkelvoss twins. Bitstamp - used to Buy Bitcoin and exchange to US dollars - requires verifying identity - uses ForEx for money transfer if used. Binance See Coinmarket cap's Exchange Rankings Failed Exchanges have been: BTC-E - run anonymously (Rebranded in 2017 due to FBI intervention, and subsequently closed) Cryptsy - allows USD deposits if using a verified account - used to trade Alt-Coins MintPal - clean site - used for Alt-Coins How do I get Bitcoin as a gift? Someone can gift you bitcoin using what's called a Paper Wallet. Bitcoin Paper Wallet is an example of this. Where a public/private key is generated client-side, and then you can print out the information, send funds to it, and give it to someone (or store it yourself offline). There are 4 ways to get Bitcoin.1. Buy it by converting an existing FIAT currency for it.2. Be a Merchant that accepts it for goods or services.3. Mine it4. Receive it as a giftRegardless of the method of obtaining it, Bitcoin is sent to a public address that you own the private key for.

How do I mine Bitcoin?



You mine bitcoin by either installing the bitcoin-qt software or joining a mining pool and then running a mining software (like cgminer) that uses your CPU/GPU/ASIC cards to solve hashes.

What you are looking for with this software, is the

Mining uses difficulty, to scale the network so that on average, there is a block found every 10 minutes. See (



You can see who has mined each block, by viewing the What is Mining, specifically?

If you are a solo miner, then you get that reward all to yourself. Early mining was done completely solo, currently - most miners join a mining pool.

The reward is halved approximately every 4 years (specifically, every 210,000 blocks) (originally, 50 btc, then 25btc, now 12.5 btc etc) until the last reward will be given out in the year 2140.

The reward also includes the miners fee (transaction fee) and the miner gets that as well. - At some point in the future (10-30 years), the miners fee should outweigh the block reward (assuming adoption of the system).

Take a look at pooled mining and how it works for a quick overview.

The majority of miners, are in pools and share the reward with everyone who contributed.



See for example, this block:

the reward was 25 BTC to the founder (in this case, BTC Guild pool)

the transaction fees were .04195001 BTC (203 total transactions) so the total that BTC Guild got for this block was 25.04195001 BTC.

This was then put into the Pool's findings during this timeframe, and paid out to the contributors working during those shifts based on what amount they contributed.

In this block, the Nonce (see:

This is the "complex math" that everyone talks about: The first miner to provide the proof gets the btc reward called the coinbase.If you are a solo miner, then you get that reward all to yourself. Early mining was done completely solo, currently - most miners join a mining pool.The reward is halved approximately every 4 years (specifically, every 210,000 blocks) (originally, 50 btc, then 25btc, now 12.5 btc etc) until the last reward will be given out in the year 2140.The reward also includes the miners fee (transaction fee) and the miner gets that as well. - At some point in the future (10-30 years), the miners fee should outweigh the block reward (assuming adoption of the system).Take a look at pooled mining and how it works for a quick overview. https://en.bitcoin.it/wiki/Pooled_mining (altho this is more than a year old for info, a lot of pools use PPLNS - Pay Per Last N Shares - where N is split out into shifts (usually 10) - so you are paid on your contribution shares per shift (which the length of the shift increases with the difficulty of the network))The majority of miners, are in pools and share the reward with everyone who contributed.See for example, this block: https://blockchain.info/block-height/274310 the reward was 25 BTC to the founder (in this case, BTC Guild pool)the transaction fees were .04195001 BTC (203 total transactions) so the total that BTC Guild got for this block was 25.04195001 BTC.This was then put into the Pool's findings during this timeframe, and paid out to the contributors working during those shifts based on what amount they contributed.In this block, the Nonce (see: https://en.bitcoin.it/wiki/Nonce ) was found to be 519830912 (think, starting from the number 0 and trying every number until one matches, in this case, took 519M tries - in lamen terms)This is the "complex math" that everyone talks about: https://en.bitcoin.it/wiki/Block_hashing_algorithm Mining is the process by which the unconfirmed transactions become confirmed.You mine bitcoin by either installing the bitcoin-qt software or joining a mining pool and then running a mining software (like cgminer) that uses your CPU/GPU/ASIC cards to solve hashes.What you are looking for with this software, is the Nonce that is used to provide the proof-of-work for the block that confirms the block as valid.Mining uses difficulty, to scale the network so that on average, there is a block found every 10 minutes. See ( Mining Difficulty You can see who has mined each block, by viewing the Hashrate Distribution chart.

How do I receive Bitcoin?



People send bitcoin to this public address, and once confirmed, the coins are then associated with this address and not with their previous address.



are widely used to contain the public address instead of typing the long string above. You receive bitcoin, using your public address. This address will look something like this: 18dAhXSeeazgVSmYF78o4z34Z9XUpN7NjjPeople send bitcoin to this public address, and once confirmed, the coins are then associated with this address and not with their previous address. QR Codes are widely used to contain the public address instead of typing the long string above.

How do I send Bitcoin?



You cannot send anything without the private key. And you cannot send anything you do not have. In this way, it is not possible for someone else to send your coins, or for you to send coins you do not posesses.

The private key is NEVER given out publicly to the network, even when sending coins. What is sent, is a signature that can only be created using the public/private keys. See



Vendors will and are arising to accomplish this task for you as well, as easily as possible. One company gives you a debit card, which you can use at any of their POS termials. This is Using your wallet software. You send coins that you control (own the private key to), to any public address.You cannot send anything without the private key. And you cannot send anything you do not have. In this way, it is not possible for someone else to send your coins, or for you to send coins you do not posesses.The private key isgiven out publicly to the network, even when sending coins. What is sent, is a signature that can only be created using the public/private keys. See Bitcoin Transactions Vendors will and are arising to accomplish this task for you as well, as easily as possible. One company gives you a debit card, which you can use at any of their POS termials. This is Coinkite

How do I sell Bitcoin?

Gemini, You can sell Bitcoin in the same way that you buy it. Through an Exchange (Such as Bitstamp Poloniex , etc), through a payment processor ( BitPay , etc), or locally to another person ( LocalBitcoins ).

How do I accept Bitcoin as payment for goods/services?



An example of this is



Of course, you can accept payment directly in bitcoin yourself with no 3rd party required - using your own wallet.



On July 30, 2014 - Typically, if you want to convert back to FIAT you would use a merchant account system. These systems use callbacks so you can tie order information to the data sent to the site and track who orders what.An example of this is Bitpay . These services typically come with a 1% or flat per-month fee to auto-convert bitcoin to FIAT currency.Of course, you can accept payment directly in bitcoin yourself with no 3rd party required - using your own wallet.On July 30, 2014 - BitPay changed to a $0 / 0% forever policy. So it costs nothing to accept and convert bitcoin for your business.

Why would I use Bitcoin over regular credit cards?

HUGE savings and is the single greatest reason a Merchant should look into accepting Bitcoin. Look at your credit card processing fees . Chances are, you are paying at least 4% on every transaction. Using services from Bitpay , you would only be paying 1% (or fixed per month) if you chose to convert Bitcoin transactions to FIAT currency. If you keep your payment in Bitcoin, there is usually little to no fees. This is asavings and is the single greatest reason a Merchant should look into accepting Bitcoin.

What is a Wallet?

Types of Wallets

Mobile Wallets - Wallets that run on a mobile phone. Such as

Web Wallets - Wallets that are hosted by a 3rd party website. Such as

Paper Wallets - Wallets that are printed on paper and stored entirely offline. (BitAddress)



See: Software Wallets - Wallets that run locally on your computer. (Bitcoin-QT)Mobile Wallets - Wallets that run on a mobile phone. Such as Mycelium or Jaxx Web Wallets - Wallets that are hosted by a 3rd party website. Such as BlockChain.info Paper Wallets - Wallets that are printed on paper and stored entirely offline. ( BitcoinPaperWallet See: Bitcoin.org Where can I get a wallet? See: Bitcoin.org A wallet, is just a collection of public keys (addresses) that are derived from the private key(s) in the wallet. The wallet also contains the private key associated with the change address(s).

What about Volatility?

As with any free market, price goes up and down based on supply/demand. That means, that at any given time, the conversion rate of BTC to any FIAT currency will change.

If you enjoy volatility as a trader, this is a good thing, as the market goes up/down, you can buy/sell to turn a profit.

As a merchant, you may not want to deal with the volatility of the price. So you simply price your product in whatever FIAT currency you wish, the buyer sees that price auto-converted to BTC, you take the BTC as payment and it's automatically converted back to FIAT for you. (see the 3rd party payment systems for this method).

The point is, you can worry about volatility, or not. It is entirely up to you. But volatility in a free market, is a totally normal thing.



Either Bitcoin will fail, or it will succeed, there is no middle ground - "logarithmic, hold onto your hats, this is going to be a wild ride"

Is this a long term investment?

It can be. Speak with your financial advisor on if this is a long term investment for you or not. (assuming your Financial Advisor knows anything about Bitcoin) The general consensus is "do not invest more than you are willing to lose" - this is true for any investment - be it bitcoin, or stocks, or anything else.

Where can I check the current price?





However, if you want to see prices in Satoshi, use the site you are on

A good graph based site is:

Another great graph based site with alarms and many alt-coins is:



A great Android app to check price (and get alerts) is



To me, the only price that matters currently (until FIAT is no longer needed), is what I can get if I want to buy/sell a bitcoin for FIAT (USD). So for me, There are a few, personally I like: Bitcoin Average However, if you want to see prices in Satoshi, use the site you are on now A good graph based site is: Bitcoinity Another great graph based site with alarms and many alt-coins is: BitcoinWisdom A great Android app to check price (and get alerts) is Bitcoin Checker To me, the only price that matters currently (until FIAT is no longer needed), is what I can get if I want to buy/sell a bitcoin for FIAT (USD). So for me, Gemini is the only price that matters.

How many Bitcoin are there?



However, Bitcoin is expressed with 8 digits past the decimal place. Ex: 1 BTC = 1.00000000 BTC and so the actual usable units of value is 100,000,000 * 21,000,000 = 2,100,000,000,000,000 units of value. This number can be increased as needed with simple code changes. There will be a total of 21,000,000 Bitcoin by the year 2140. The "reward" for each solved block started at 50 coins awarded, and is halved about every 4 years (210,000 blocks). See: Controlled Currency Supply However, Bitcoin is expressed with 8 digits past the decimal place. Ex: 1 BTC = 1.00000000 BTC and so the actual usable units of value is 100,000,000 * 21,000,000 = 2,100,000,000,000,000 units of value. This number can be increased as needed with simple code changes.

10 minutes per transaction is long, my credit card happens instantly?

Actually, your credit card doesn't confirm funds for up to 120 days after you discover a problem - or 540 days after the transaction (see Credit Card Chargeback rules). Within those 120 days, the funds can be reversed by the payee/financial institution and the merchant can not get that money.

What happens instantly, is that upon attempting to spend money on your credit card, a verification is done that checks that your available balance will allow the transaction at that moment.



Bitcoin does this at the core of the system. You can not spend coins you do not own (balance > what you are attempting to spend) and if someone was attempting to double-spend, it would need to occur at almost the same moment - so within seconds, you can be very certain there is no double-spend occuring.

The coins are then verified within approximately 10 minutes, and CAN NOT be reversed after those 10 minutes. - Compared to Credit Cards where a transaction can be reversed up to 540 days later.



Typically, as long as the recommended mining fee is included in the transaction, it can be assumed that the transaction *should* get into a block. As of Feb 2014, plans are in place for a payment protocol change to allow a better guarentee that the mining fee is included in the transaction.

How much does it cost to send Bitcoins inside the network?



If you do not include a mining fee on your transaction, it could take weeks or months before the miners actually include the transaction. So by including a small (as of 1/6/14 this is about .0001 btc) amount in the mining fee, will guarentee the transaction to get into one of the next 1-2 blocks.

The mining fee is paid for by the SENDER of the coins. Not the receiver.

Say for example, you want to send 0.1 coins from X to Y. If you only have 0.1 coins in your wallet, you would not be able to send that amount. As you would only be able to send 0.0999 coins, since you need to include the recommended mining fee of .0001 (as of 1/6/2014) Bitcoins get included in transactions on a priority basis by the miners. (see: Transaction Fees ).If you do not include a mining fee on your transaction, it could take weeks or months before the miners actually include the transaction. So by including a small (as of 1/6/14 this is about .0001 btc) amount in the mining fee, will guarentee the transaction to get into one of the next 1-2 blocks.The mining fee is paid for by the SENDER of the coins. Not the receiver.Say for example, you want to send 0.1 coins from X to Y. If you only have 0.1 coins in your wallet, you would not be able to send that amount. As you would only be able to send 0.0999 coins, since you need to include the recommended mining fee of .0001 (as of 1/6/2014)

How does change work?

All transactions contain inputs and outputs. Since there is no guarentee that the sum of the inputs will match the outputs, change must be given. Change is simply, the remainder of the inputs-outputs which is sent to an address. See Change

How many possible addresses exist?

Under the current model of encryption (RIPE-MD160) there are approximately 2^120 addresses - or 1,461,501,637,330,902,918,203,684,832,716,283,019,655,932,542,976 possible addresses. For perspective, the total number of grains of sand on the planet earth is only 2^63 estimated.

What is an "Alt-Coin"?





As of December 2013, there are about 110 different Alt-coins but this number continues to grow. You can trade them at exchanges such as:



Sites like

Early notable coins are/were:

Litecoin

Peercoin

Namecoin

Dogecoin

In 2014, there was a big push to be more anonymous. New coins sprung up to solve this problem, some notable ones are:

DarkCoin (rebranded to Dash)

Monero



Coins also appear that are industry specific. In June 2016, TitCoin was created.



Coins also appeared to work as contracts.

Coins have appeared to store files (like dropbox) -

Coins appear that use totally different (or new) methods - such as a

Since "alt-coins" are simple to create - almost anybody can create them. That also means, they can live and die very quickly. Typically, once listed on an exchange, an alt-coin will live and die by the price that the market gives to it. If there is little to no trading volume, the coin will be delisted, which usually marks its death. If the coin trades well, and developers keep active, the coin can continue on for quite a while. It's certainly possible in the future, that an "alt-coin" replaces Bitcoin as the most widely used coin. An Alt-Coin is simply another coin that has been created using the Bitcoin Protocol as a basis.As of December 2013, there are about 110 different Alt-coins but this number continues to grow. You can trade them at exchanges such as: Poloniex Sites like CoinmarketCap exist to list out every coin and where you can trade them at.Early notable coins are/were:LitecoinPeercoinNamecoinDogecoinIn 2014, there was a big push to be more anonymous. New coins sprung up to solve this problem, some notable ones are:DarkCoin (rebranded to Dash)MoneroCoins also appear that are industry specific. In June 2016, TitCoin was created.Coins also appeared to work as contracts. Ethereum was the first to do this but many others have also attempted it.Coins have appeared to store files (like dropbox) - Storj and Siacoin are examples of this.Coins appear that use totally different (or new) methods - such as a DAG coin like IOTA which uses what they call the "tangle" which is the blockchain - except as a web instead of a chain.Since "alt-coins" are simple to create - almost anybody can create them. That also means, they can live and die very quickly. Typically, once listed on an exchange, an alt-coin will live and die by the price that the market gives to it. If there is little to no trading volume, the coin will be delisted, which usually marks its death. If the coin trades well, and developers keep active, the coin can continue on for quite a while. It's certainly possible in the future, that an "alt-coin" replaces Bitcoin as the most widely used coin.

What is 2FA or Two-Factor Authentication?





For example, a password AND a code that is sent to an SMS number or e-mail address.

Or a password AND a code that is provided by an application running on a phone.



The most basic method, is an SMS code sent via Text-Message to your phone number upon attempting to log on.



However - I like to use a program like:



2FA is HIGHLY recommended on any website that you store anything of value on. It should protect against people being able to log into a website by simply knowing your username and password. 2FA or Two-Step Authentication is setting up a logon to something to use Two methods of authentication.For example, a password AND a code that is sent to an SMS number or e-mail address.Or a password AND a code that is provided by an application running on a phone.The most basic method, is an SMS code sent via Text-Message to your phone number upon attempting to log on. Google Authenticator is an application maintained by Google which also does this for you.However - I like to use a program like: Authenticator Plus over google wallet because you can backup the keys and re-import them (if you change your phone out).2FA isrecommended on any website that you store anything of value on. It should protect against people being able to log into a website by simply knowing your username and password.

What is an exchange?





It should be noted, and STRESSED that an exchange is a 3rd-party. *ANY* funds you move to an exchange are *NOT* controlled by the bitcoin network and are solely controlled by the exchange. (as of Mar 2014).

What this means, is that an exchange can and has closed/been hacked/stolen customer funds, and currently, there isn't anything you can do about it.

The most notable, happened in February 2014 when one of the first and biggest exchanges (Mt. Gox) stopped all trading and declared bankruptcy. Other exchanges have closed or been hacked.



DO NOT store funds on an exchange that you are not willing to lose, and DO NOT use an exchange in place of your own wallet.



Some examples of an exchange are: Poloniex, BTC-E, Bitfinex, Kraken,

Sites like



If you do not want to use an exchange, sites such as An exchange is simply a website that "exchanges" bitcoin for something else. For example, exchange bitcoin for litecoin or dogecoin or FIAT currency.It should be noted, and STRESSED that an exchange is a 3rd-party. *ANY* funds you move to an exchange are *NOT* controlled by the bitcoin network and are solely controlled by the exchange. (as of Mar 2014).What this means, is that an exchange can and has closed/been hacked/stolen customer funds, and currently, there isn't anything you can do about it.The most notable, happened in February 2014 when one of the first and biggest exchanges (Mt. Gox) stopped all trading and declared bankruptcy. Other exchanges have closed or been hacked.store funds on an exchange that you are not willing to lose, anduse an exchange in place of your own wallet.Some examples of an exchange are: Bitstamp Bittrex etc.Sites like CoinmarketCap exist to list out every coin and which exchange you can trade them at.If you do not want to use an exchange, sites such as Shapeshift have appeared which will convert between different coins for you without an account. (you just need a wallet address for each coin).

Where can I buy things using Bitcoin?





There are a few websites dedicated to tracking these sites, for example:

Also, the



Some of the major retailers that started accepting bitcoin, are:









Increasingly, more and more locations are accepting bitcoin as a form of payment.There are a few websites dedicated to tracking these sites, for example: Spendbitcoins , or Coinmap Also, the Bitpay Merchant List is a good starting points for vendors who convert bitcoin to FIAT upon purchase.Some of the major retailers that started accepting bitcoin, are: Overstock.com - Added January 2014 Tigerdirect.com - Added January 2014 Expedia.com - Added June 2014 NewEgg.com - Added July 2014 Dell.com - Added July 2014

Is a Bitcoin fungible?