Ultimate Guide to Bitcoin, The
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Ultimate Guide to Bitcoin, The

Ultimate Guide to Bitcoin, The


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About the Book

The whole truth about Bitcoin…So you can decide for yourself!   Bitcoin: it’s the worldwide virtual currency everyone’s talking about. But most explanations of Bitcoin are completely bewildering—they’re either written by people in thrall with it or by those appalled by the very notion of an alternative currency. What’s the real story? How does Bitcoin work? Where did it come from? What’s it good for? How do you get, store, and spend Bitcoins? And should you?   The Ultimate Guide to Bitcoin answers all your questions—honestly, objectively, and in plain English. Michael Miller has spent his life demystifying complicated ideas and technologies: he’s helped more than 1,000,000 readers in over 150 easy-tounderstand books. Now, he explains Bitcoin in ways everyone can understand.   Miller will help you decide for yourself if Bitcoin should be part of your life. And if the answer is “Yes,” he’ll help you make the most of it! Is Bitcoin the currency of the future— or just the latest scam? Why does anyone think Bitcoins have value? Are Bitcoins legal? Are Bitcoins really untraceable? How and where can I buy Bitcoins? How do I choose a Bitcoin exchange? How do I find out what my Bitcoins are worth? Can I trade Bitcoin just like other currencies? Can I really mine my own new Bitcoins? Is Bitcoin taxable? Where should I store my Bitcoins? How much Bitcoin fraud and theft really exists? Which merchants accept Bitcoin? How safe—or risky—is Bitcoin? How does Bitcoin compare to other virtual currencies? What’s the future of Bitcoin?

Table of Contents:
1  Bitcoin: The Future of Currency?     1 Bitcoin in the News     2 What Is Bitcoin?     3 No, Really, What Is Bitcoin?     5 What Famous People Are Saying About Bitcoin     6 Does Bitcoin Really Matter to You?     7 2  Understanding Virtual Currency     9 What Is Currency?     10 What Is Virtual Currency?     11 What Are Digital Currency and Cryptocurrency?     13 Is Bitcoin a Virtual Currency?     14   3  A Short History of Bitcoin     17 Virtual Currency Before Bitcoin     18 Then Came Bitcoin     23 Bitcoin Today     32   4  How Bitcoin Works     33 Understanding Bitcoins     34 Walking Through Some Typical Bitcoin Transactions     35 Managing Bitcoin Transactions     40 Understanding Bitcoin Denominations     42 Verifying Transactions and Creating New Bitcoins     43 Understanding Bitcoin Encryption     45   5  Determining Bitcoin Value     49 Does Bitcoin Have Value?     50 Who (or What) Decides How Much a Bitcoin Is Worth?     52 How Much Is a Bitcoin Worth, Anyway?     53 How Has Bitcoin’s Value Changed Over Time?     54 Where Can You Find the Current Value of Bitcoin?     57   6  Should You Use Bitcoin?     61 Who Bitcoin Was Originally Designed For     62 Who Uses Bitcoin Today—and Why     63 Is Bitcoin for You?     67 What Next?     70   7  Trading on Bitcoin Exchanges     73 How Bitcoin Exchanges Work     74 How to Choose the Right Exchange     76 Exploring the Big Five Bitcoin Exchanges     77 Discovering Other Popular Exchanges     82 Making a Trade     85   8  Storing Bitcoins with a Bitcoin Wallet     89 Understanding Bitcoin Wallets     90 Examining Different Types of Bitcoin Wallets     91 Using a Bitcoin Wallet     97 Securing Your Bitcoin Wallet     98   9  Spending Bitcoins     103 Who Accepts Bitcoin Payments?     104 Paying with Bitcoin     108 Converting Bitcoin to Gift Cards     110 Using Bitcoin ATMs     111   10  Accepting Bitcoin Payments     115 Should You Accept Bitcoin Payments?     116 Evaluating Bitcoin Payment Processors     117 Accepting Bitcoin on Etsy     120   11  Mining Bitcoins     123 What Is Bitcoin Mining?     124 How Bitcoin Mining Works     125 Can You Be a Bitcoin Miner?     129 Joining a Bitcoin Mining Pool     134 Making Money Mining—Or Not     138   12  Speculating in Bitcoin     141 How to Speculate in Bitcoin     142 Speculating Is Risky     143 Speculating Can Pay Big Rewards     145 Should You Speculate in Bitcoin?     145 Five Tips for Speculating in Bitcoin     148   13  The Many Risks of Using Bitcoin     151 It’s Not Legal Tender     152 It’s Not Backed by Anything or Anybody     152 It’s Not Regulated or Insured     153 You Can’t Get Your Money Back     153 It’s Not Completely Secure     154 It’s Extremely Volatile     155 Some of the Players Are Less Than Upstanding     156 It’s Not Widely Accepted     156 It’s Not Understood     157 Powerful People Don’t Like It     157 It’s an Experiment     158 Bottom Line: You Could Lose Your Money     158   14  Exploring Other Virtual Currencies     161 Why Do We Need Even More Virtual Currencies?     162 Evaluating Alternative Virtual Currencies     163 Where Can You Trade All These Virtual Currencies?     172   15  Peering into the Future of Bitcoin     175 Scenario #1: Everything Is Awesome!     176 Scenario #2: Realizing Potential     177 Scenario #3: More of the Same     178 Scenario #4: It’s Marginalized     179 Scenario #5: Hell in a Handbasket     180 Which Future Will It Be?    181   A  Glossary     183   B  Resources     191 Information and Advocacy     191 Pricing and Charts     192 Feeds, Forums, and Message Boards     192 Exchanges     192 Wallets     194 Payment Processors     195 Mining Hardware     195 Mining Software     195 Mining Pools     195 Other Virtual Currencies     196   C  How to Read Bitcoin Charts     197 Line Pricing Charts     198 Candlestick Pricing Charts     198 Column Volume Charts     200 Combination Charts     200 Trend Lines and Channels     201   D  Donating (and Accepting) Bitcoins for Charity     203 Giving with Bitcoin     203 Accepting Bitcoins for Your Charity     206   E  Creating an Unhackable Paper Bitcoin Wallet     207 Understanding Paper Wallets     207 Creating a Paper Wallet     208   F  Why Prices Go Down     11   G  Bitcoin and Apple Pay     215   Index     217

About the Author :
Michael Miller has written more than 150 non-fiction how-to books over the past two decades, as well as a variety of web articles. His best-selling books include Que’s Absolute Beginner’s Guide to Computer Basics, The Ultimate Digital Music Guide, and Is It Safe? Protecting Your Computer, Your Business, and Yourself Online. Collectively, his books have sold more than 1 million copies worldwide.   Miller has established a reputation for clearly explaining technical topics to nontechnical readers, and for offering useful real-world advice about complicated topics. More information can be found at the author’s website, located at www.molehillgroup.com.


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Product Details
  • ISBN-13: 9780133581379
  • Publisher: Pearson Education (US)
  • Publisher Imprint: Pearson
  • Language: English
  • ISBN-10: 0133581373
  • Publisher Date: 08 Oct 2014
  • Binding: Digital download


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