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TABLE OF CONTENTS
ABOUT THE AUTHOR
..................................
4
INTRODUCTION
..................................
6
HOW DOES BITCOIN WORK
..................................
7
SUMMARY OF RECOMMENDED SERVICES ..................................
9
FIVE STEPS TO MAKE A BITCOIN
.................................. 10
TRANSACTION IN UNDER 30 MINUTES
STORE
.................................. 13
OFFLINE STORAGE - PENULTIMATE
.................................. 15
SECURITY
ACQUIRE
.................................. 16
SELL AND SPEND
.................................. 19
SPECULATE OR INVEST
.................................. 22
CONCLUSION
.................................. 25
BITCOIN RELATED VIDEOS
.................................. 26
BASIC BITCOIN QUESTIONS ANSWERED
.................................. 27
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ABOUT THE AUTHOR
The main purpose of this guide is to provide ideas and information on how
to safely use Bitcoin and Bitcoin services to avoid many undesirable and
harmful effects others have experienced.
Ideas can only be overcome by other ideas. Money and force are impotent
against ideas.Government abuse of currency has enabled many evils
including the rise of dictators and perpetuation of genocide.
Theabandonmentof sound money is the chief reason, if not the only
reason, that the world has become such a dangerous place. Bitcoin, being
merely open-source software code, is a powerful idea and tool to
counteract these evils.
As the worldwide fiat monetary system evaporates it will take education,
humility and willingness to explore new technologies like Bitcoin to
successfully navigate the chasm and retain one's wealth.We are feeling
the gigantic tectonic plates underneath the financial system begin to shift.
The shift of wealth that is happening is gargantuan and if one is properly
positioned they can profit handsomely from the change. Bitcoins, like gold,
are a sterile asset and an increase in the price of bitcoins only represents a
shift of wealth that has already been created and was stored in some other
asset to holders of bitcoins. Luck is when preparation meets opportunity.
Trace Mayer is an entrepreneur, investor, journalist, monetary scientist and
ardent defender of the freedom of speech. He holds a degree in Accounting
and a law degree. He has studied Austrian economics focusing on the work
of Murray Rothbard and Ludwig von Mises.
He is a strong advocate of the freedom of speech, operates RunToGold
and HowToVanish, has authored The Great Credit Contraction and co-
authored How To Vanish The Book, Bitcoin Beginner's Guide and A
Lawyer's Take On Bitcoin And Taxes, is a member of the Society of
Professional Journalists and the San Diego County Bar Association.
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Trace Mayer has appeared on Canada's national financial network BNN,
ABC, NBC, many radio shows, conferences, to many private groups and is
syndicated through Seeking Alpha, Yahoo! Finance and MarketWatch.
He was among the first popular bloggers to publicly recommend Bitcoin in
its infancy with a market cap under $2m and well before its massive rise to
about $500m in March 2013. So if you like, use or have profited from
Bitcoin then there is a chance you were directly or indirectly influenced by
Trace.
He has always been very interested in entrepreneurship, money and the
financial markets.He believes education is the key to opportunity and
humility, the ability to change and adapt, are essential to successfully
allocate capital.
He generally deals with high-net worth individuals.He may be available for
interviews, speaking, training, writing or consulting.
And you can signup for the free email updates at the websites where you
will learn the latest tips and advice to protect your wealth and privacy.
COVER CREDIT: Reddit user nagdude
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INTRODUCTION
Imagine being able to send any amount of money to anyone anywhere in
the world at anytime without the possibility of funds being frozen, seized,
confiscated or impeded in anyway all for a tiny or no cost. That is Bitcoin.
Bitcoin has opened the monetary Pandora's Box. Since Bitcoin slithered
out of the primordial monetary ooze in 2009 the Bitcoin economy has been
growing, dying, regenerating, evolving, metastasizing and developing at an
extremely rapid pace. One thing is for sure: Bitcoin has not disappeared.
This decentralized peer-to-peer irreversible non-freezable crypto-currency,
the ultimate `offshore bank account' or last plane account, and the
surrounding services now offer tremendous utility to hundreds of thousands
of people on a daily basis.
It also makes easy and possible anonymously paying for online goods or
services. This is extremely important if you want to protect your Internet
privacy by using Virtual Private Networks (VPNs). You should never trust a
VPN that doesn't accept bitcoins.
If you have not seen the extremely popular, with over a million views, short
two minute video What Is Bitcoin? at WeUseCoins.com then I highly
recommend viewing it to get a succinct and accurate overview.
There have also been a significant number of unfortunate events where
bitcoins have been absconded, embezzled or stolen. Additionally, as with
anything scams and thieves exist so due diligence to find reputable service
providers must be done to protect your capital.
Nevertheless, with this short Beginner's Guide To Bitcoin And Bitcoin
Services you will be able to safely, easily and quickly learn how to store,
acquire, sell, spend, speculate and invest bitcoins.
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HOW DOES BITCOIN WORK?
Bitcoin miners perform a function that is analogous to gold mining but
very different. While gold miners mine rocks to produce gold which
has integrity and scarcity based on internal characteristics based on
atoms and chemical law Bitcoin miners mine numbers which have
integrity and scarcity based on internal characteristics based on
cryptographic protocols and mathematical law.
Bitcoin mining is how the numbers and information of the Bitcoin
network is secured, validated and verified.
The Bitcoin mining community must solve a complex cryptographic
math problem to create a block. Once solved the answer can be easily
verified by other Bitcoin miners. Blocks are solved approximately
every ten minutes and the difficulty of the complex cryptographic
problem varies based on the total computational power of the Bitcoin
network. Additional y, miners listen for transactions, which are ledger
transfer announcements, broadcasted through the peer-to-peer
network as transactions. These transactions are then processed and
confirmed by being included in a block and adding the block to the
blockchain.
Each transaction is included in a block and al blocks constitute the
Bitcoin blockchain. Therefore, the Bitcoin blockchain contains a record
of every Bitcoin transaction that has ever happened.
Most Bitcoin miners perform this labor because miners that solve a
block earn (1) any transaction fees paid by customers for faster
transaction processing and (2) the block reward which is a
predetermined amount of bitcoins as specified by the protocol.
Bitcoin mining is a very competitive market. Bitcoin miners are unable
to either increase their own block reward beyond the rules in the
protocol or process invalid or fraudulent transactions that could corrupt
the Bitcoin network. Because anyone can become a Bitcoin miner and
the Bitcoin network is the largest distributed computer network in the
world therefore it is extremely improbable that any particular Bitcoin
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miner that may be acting maliciously could compromise the
blockchain. Thus, Bitcoin mining is used to protect the neutrality and
the consensus of the network even if not al Bitcoin miners can be
trusted.
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SUMMARY OF RECOMMENDED SERVICES
STORE
"
Bitcoin.org - the open-source software
"
Blockchain.info - easy and secure online wallet to store bitcoins
ACQUIRE
"
BitInstant.com - deposit cash at 700,000+ locations and receive
"
in your exchange account within an hour
"
Popular exchanges: MtGox, BTC-e and CampBX.
SPEND AND SELL
"
Coinabul - Buy gold or silver coins with your bitcoins
"
Coinapult.com - Send bitcoins to an email address or mobile phone
"
number and integrated with BitInstant.com
"
MEGA - Zero-Knowledge file storage service
"
Ice Servers - Web hosting in Iceland with very protective freedom of
"
speech laws written by legislators with Wikileaks ties
"
Private Internet Access - Anonymize your Internet traffic. Never
"
trust a Virtual Private Network (VPN) that does not take bitcoins
"
BitMit.net - Buy Moneypaks with bitcoins
"
AmericanExpress.com/prepaid - instantly loadable via MoneyPaks,
"
no/low fee prepaid card with $400/daily ATM withdrawal limit
"
BitPay.com - Payment processor with daily direct deposits
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FIVE STEPS TO MAKE A BITCOIN
TRANSACTION IN UNDER 30 MINUTES
I understand, you are impulsive and just heard about this newfangled thing called
Bitcoin and the first thing you want to do is go out and make a transaction. Sure, you
could read this entire guide.
But what if you want to just get down to it and buy something with bitcoins in the next 30
minutes? You learn by doing so here you go!
STEP ONE
You need a wallet to have bitcoins you purchase sent to. For this I recommend
Blockchain.info or Easywallet.org. Easywallet will take slightly less time, just click the
link on the upper left Create New Wallet, and you will be on your way. Blockchain.info is
more secure. I us both and it comes down to time or money..... So pick your poison!
STEP TWO
So what fancy new product or service do you want to buy? Well, it would be good to
know approximately how many bitcoins are needed. Perhaps it is How To Vanish The
Book (<---- click the link!) to say Thank You since this guide is so helpful.
STEP THREE
Now you need to get some bitcoins into your brand new wallet. BitInstant is one of the
easiest with over 700,000 physical locations, including 711, CVS, Wal-mart, etc. where
you can walk in with the transaction page you print off, hand a cashier some cash and
have bitcoins in your wallet in about 5-15 minutes. Speed Tip: Use the major bank
branch option for the best option; no need to call with a red phone, give name or
address, etc. Privacy tip: Use Mailinator for a disposable email address.
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