Sunday, December 16, 2018

One of the things that will assure bitcoin's ascendency is it's simplicity.

Here's Satoshi Nakamoto's (we'll get into who he, or she, or they are later) white paper. And here's an extensive catalogue primer's on what blockchains are, how they work, why you can totally trust them, oh, and here's some links about mining is (not literal mining you goof) and how its an essential function of bitcoin, and here's a bunch of you-tube videos about deflationary currency (actually, here's a link to a youtube channel - it's got about 200 videos, you'll want to watch them in your spare time). OK, and we need to talk about storage, how to use it, how not to get hacked, how to buy and sell it, why not to keep it on exchanges. . .what am I forgetting. . .oh right right right - I almost forgot, just keep a record of your basis and then every transaction because transactions aren't like sales with money, they're actually considered trade of securities and therefor taxable events - so you'll want to record the value and pay taxes on any profits or carry losses forward to offset against future gains. . .maybe it's best if you hire an accountant for your taxes going forward. . .

I think that covers most of it - simple, you see! Everyone will be doing it.


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