Welcome to the /r/Bitcoin Sticky FAQMaybe you're here because you've received a tip on social media, or maybe you've just been hearing a lot recently about Bitcoin and are wondering what the big deal is? The following videos are a good starting point for understanding how bitcoin works and a little bit about its long term potential:Video 1: What Is Bitcoin & Why Should You Care?Video 2: The real value of bitcoin and crypto currency technologyVideo 3: Bitcoin Is Independent MoneyVideo 4: Bitcoin 101 - Balaji SrinivasanFor lots of additional video resources check out the videos wiki page or /r/BitcoinTV . Peer-reviewed, research papers can be found here and here. Developer resources can be found here. Lots of Bitcoin statistics can be found here.Where can I buy bitcoins?You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank account. A good list of exchanges sorted by region can be found on the exchanges wiki here.Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Here are a couple useful sites [bitkoin.io, preev.com] that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".Securing your bitcoinsWith bitcoin you can "be your own bank" and personally secure your bitcoins OR you can use established companies which have secured wallets where they hold the bitcoins for you and provide insurance.If you prefer to let bitcoin banks manage your coins, try Coinbase or Circle.If you prefer to "be your own bank" and have direct control over your coins without having to use a trusted third party, there are many software wallet options here and here. If you prefer easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger, Case Wallet, or KeepKey is recommended.Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below.Google AuthenticatorAuthyAndroidAndroidiOSiOSTippingUse ChangeTip.com (/r/changetip) for tipping people on Facebook, Reddit, Twitter, YouTube, Tumblr, Google+, GitHub, Slack and more! (you can even use custom monikers to tailor your tip to the discussion or add a bit of humor). Read more about ChangeTip at their reddit wiki.Go to /r/FreeBits to get a few bits to practice with and then tip them forward. Go to /r/BitTippers to play games and solve riddles to earn your bits. Don't forget your flair!Where can I spend bitcoins?StoreProductMicrosoftXbox games, phone apps and softwareSpendabit and The Bitcoin ShopSearch engines of online retailers accepting bitcoin with millions of resultsOverstock and RakutenEverything under the sunGyftGift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.NewEgg, TigerDirect and DellFor all your electronic needsExpedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky and 9flatsFor when you need to get awayBoltVMVPS serviceNamecheapFor new domain name registrationCryptostorm, Mullvad, and PIAVPN servicesFoodler and TakeawayTakeout delivered to your door!HumbleBundle, Disco Melee, GreenmanGaming, and Coinplay.ioFor when you need to get your game onReddit GoldPremium membership which can be gifted to othersShipnikDiscounted USPS Priority & Express mail postageCoinmap and AirBitz are helpful to find local businesses accepting bitcoins. UK residents can find a comprehensive directory of shops, pubs, websites and other places in the UK that accept bitcoins at wheretospendbitcoins.co.uk.There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.Additional resources can also be found at TheBitcoinPage.comMerchant ResourcesThere are several benefits to accepting bitcoin as a payment option if you are a merchant;1-3% savings over credit cards or PayPal.No chargebacks (final settlement in 10 minutes as opposed to 3+ months with credit cards / PayPal).Accept business from a global customer base.Increased privacy for your customers.The payment processor can convert 100% of the sale to the currency of your choice for deposit to your account which means there is no need to hold bitcoins and no exposure to price volatility. Alternatively, you can choose to keep a certain percentage of the sale in bitcoin if you wish to begin accumulating it.If you are interested in accepting bitcoin as a payment method, there are several options available;BitpayCoinbaseCoinifyCoinkiteSnapcardGoCoinBitMerchantCan I mine bitcoin?Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /r/BitcoinMining would be happy to help you out.If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. You can view the global node distribution here.Earning bitcoinsJust like any other form of money, you can also earn bitcoins by being paid to do a job./r/Jobs4BitcoinsCoinality job boardBitgigs job boardFind Bitcoin JobsYou can also earn bitcoins by participating as a market maker to allow users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)JoinMarketFundraisingYou can use Lighthouse to crowdsource fundraising initiatives with bitcoin. It's similar to Kickstarter, but without intermediaries or exorbitant fees. You can participate in project discussions at /r/LighthouseProjects, and watch the progress of fundraisers at lightlist.io.Bitcoin ProjectsHere is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.Bitcoin UnitsOne Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:UnitSymbolValueInfomillibitcoinmBTC1,000 per bitcoinSI unit for milli i.e. millilitre (mL) or millimetre (mm)microbitcoinμBTC1,000,000 per bitcoinSI unit for micro i.e microlitre (μL) or micrometre (μm)bitbit1,000,000 per bitcoinColloquial "slang" term for microbitcoinsatoshisat100,000,000 per bitcoinSmallest unit in bitcoin, named after the inventorFor example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:0.02 BTC20 mBTC20,000 bitsIf you want to use 'bits' exclusively, just remember that there are 100 satoshis in 1 bit, and 1 million bits in one bitcoin. For more information check out the Bitcoin units wiki.Still have questions? The friendly folks at /r/BitcoinBeginners would be happy to help you out, or stick around for our weekly Mentor Monday thread. If you decide to post a question in /r/Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found hereNote: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.Welcome to the Bitcoin community and the new decentralized economy! via /r/Bitcoin http://bit.ly/1heybAC
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