What is a Bitcoin ?

What is a Bitcoin ?

Long Winded Read...

Bathroom Material or longer...

You have been Warned...

Most everyone has to start off somewhere...

You heard the word Bitcoin (BTC) and wondered...

What the hell is a Bitcoin...?

And you thought about everything you ever heard about it in a failed attempt to register what it all meant...

I will explain this in everyday language and even though some minor things to other are major may be present...

Anyhow so your wondering what a Bitcoin is...

In layman's terms it means

A Mathematical Computation to solve a block or move it based on some sort of value placed on it...

On a digital encrypted Block Chain (also a new thing)...

Think of a Digital Dollars and change... Still worth its value we give it...

Could be anything.

So you learn a Block chain is what a miner is trying to solve a Mathematical Caculation to solve a Block on the chain...

There are only so many.

Thats your supply amount.

You start reading about what that means and you hear someone mention Ethereum... Solana or some other vague crypto you think you heard of...

So you stray away from BTC to see what the fuse is all about at Ethereum (ETH) You start to realize that the ETH and BTC are market identifiers and both are different but similar block chains...

You want to know what ?

A kid like 17 yrs old in freaking Russia...

Vitalik Buterin...

is actually looking at the code for BTC which is public...

He thinks, ok, I could improve this blockchain and make mine ten times faster...

So this brainiac kid writes the Ethereum block chain and its ten times faster probably more now...

Plus keeps adding different types of features...

Like you can create any coin put a max supply back it with something like USDC or USDT

and then you can make Dougnuts DGT 500 B supply backed by 5,000 us...

Do the math and you see the price of that value per 1 of the 500 Billion coins max supply ever...

These do not get minted they are there...

You can release them all at once or over a span of time...

Thousands of coins popped up on eth...

he cut mine pay outs to miners which raised prices for swaps

and everyone had their hand in the cookie jar and a lot of bad actors...

You didn't quite get to BTC Halving...

Instead you started seeing and hearing about different exchanges and places you could easily buy crypto

Names Like Robbin Hood, Trust Wallet, Coinbase (the worlds largest Crypto Merhcant)

So you see this coin you like is on the BNB network it cheaper to swap but your coins cant be moved and yada yada yada...

Its a hassle, to me but a lot of people love it...

Thats what they learned...

I like control and to send USDC to my wallet and swap and whatever in my own wallet...

then cash out by sending USDC to my coinbase and cashing out there its totally free...

Sent to Pay Pal then instant to bank for small fee and its done in fifteen minutes...

BTC started branching and adding coins to their network and upgrades to help things like speed...

Coin or token adoption and so forth...

You then buy some stuff while your learning all that stuff...

You make some serious money but you see Rug pulls when they take everything all at once and it s Bam worth zero and you have 1 million coins...

Because it was such a great deal...

Then you hit a bunch and do very well and people around you notice...

Its usually obvious when someone invest in Crypto...

Your relatives stare at you like they dont understand because they dont-

How you can make digital cash...

And thus you dub yourself MarkaDamus... See I told ya...

Anyhow seriously

Every four yrs BTC cuts in halve in coins minted for the next block of something like 1 million BTC coins...or whatever it is...

Usually it will make the coin follow a 4 yr cycle.

It will surge and fight to gain and then kinda shoot up...

You are waiting for it to stop...

Buy enough so during these times in incredible surges you can at least take some of your original money back out and start to work off your profits and invest elsewhere or use it whatever...

When It cuts in halve the demand is the same you may see a slight dip as it gets moving into the system you have to still solve a block to earn a BTC coin...

Then it kinda goes sideways or starts moving upward for about another yr... then it drops deep and heads down to the last time Low

You learn thats the highs of the lows...

They will continue to form a stair shape... up...

The all time Highs also make stairs since after that massive cycle dip it surges to usually an all new high... of highs...

We are currently sitting in a double bottom that has already hit bottom at $53,000 a bitcoin...

to back up to hitting $87,000 a coin which triggered liquidations of 14 billion in Bitcoin today...

which caused the price to only dip a bit... then started reversing back up.

What happened is hedge fund managers of Crypto accounts thought they would bet in the long run BTC wouldn't break past 87K thinking it was still headed down... to 42-47,000 but it never did then it rose back up to 87,000 triggering the shorts all the people who bet against it rising...

They will dump sometimes small amounts to affect the price...

Well their margins got called and they were forced to pay off the short loans they took against it shooting up losing a lot of money however ETFs exchange Tradeable Funds...

Like what you pay for a 401K retirement account that holds stocks they now can purchase set amounts of BTC...

Because Bitcoin is what everyone is used to hearing the most about it is globally accepted at that places exchange rate for the dollar...

You can send it to your kids or relatives in other countries and they get it in minutes no banks no bullshit you daughter has 3000 in BTC she can convert in any country to their currency in minutes...

so shes not hitch hiking across Europe...

Coinbase sells coins Toshi is their Flagship coin it actually is a part of the Eth network piggy backing...

but has its own code and utility you can do things like add coins to its back bone Block chain...

You can swap for other ones...

Anyhow This is a bottom low of lows section of the 4 yr cycle were in atm...

Halving is Mar/Apr of 28 so for the next yr and half things should steadily progress north east on a chart...

Thats it...

For more details you have to google shit...

But you should have a confused idea of how it works...

Dont think 100 Bucks will be life changing...

A 1,000 can and 10,000 will if you are simply patient enough...

Pick a solid coin you know is legitimate has clear optics not a catchy name or they say they help kids and displaced mothers I lost 5000 that way three days before Christmas...

That was hard to deal with...rough...

I have done well in the past and this is the best timing I have seen after 7 yrs of a shit load of reading...

The very first Time I ever bought BTC was after I read for two weeks

What a Bitcoin was... and still in the dark...

You should also experience it and it helps it all fit in and make sense...

So I bought 2000 worth with my kid dreaming about driving around in luxury carts yacht, buying an Island...

LOL

Woke up to see 1400 in seven hours...

Everything looked great at 2 am when we fell asleep...lol

Single Biggest loss day in Bitcoin History and I was a Part of it...

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I pulled it and tried BTC Dollar... dropped even more got out with 1200

Took a few weeks or swapping on coinbase to learn...

It was better to convert not sell then buy...

No one explained that to me but I was picking coins that would surge but then Id sell and buying and selling fees are twice the convert fees DOH...

Now you know...

So anyhow I did finally after like 3 long months get back to 2000 plus a bit...

I went searching for better coins and ALT or shit coins as they are called...

And made some serious mad cash very high risk not for the weak hearted... some of these people have deliberately picked a great sounding coin...

Copied a website Whitepaper (all about this project and why you should pick us) kinda thing...

So your hanging with people that will rug pull and make off with 5 million in a month then return as though they were not directly involved...

Well your ass wasnt hacked...

Someone dumped all your coins and drained all the cash...

Poof Your flat out of commission on that coin even though you have 15 billion of them...

Worthless...

Then I migrated and started looking for ones with less tax on them see some people create a coin that pays them for each coin bought or sold... Lots of cash there...

I was also using Trust wallet which had swaps available for a lot cheaper than 5% straight at coin base...

I could dump major amounts and it was only the price of a single transaction based off of network traffic...

The more traffic them more you paid to get your order to buy or sell processed faster...

Tipping on the ETH chain those were the days...

Anyhow Pick a coin back by a reputable company with smart contracts tops security and backs you the event of a theft of your funds...

Trust has found 11,000 of mine that accidentally went poof into mid air took a week but I sure was happy...

Then buy enough to matter without going hungry much...

Buy in the red and sell in the green...

If you do you can make some money and if your smart you can turn that into a lot...

Just be patient and at least every 4 yrs you will see crazy spikes and take when you need to or just watch as it continues to see saw up and down still gaining even on lows...

Good luck