https://blockonomi.com/what-is-bitcoin-ultimate-guide-beginners/
Monday, November 26, 2018
What is Bitcoin? Ultimate Guide in 7000 Words
https://blockonomi.com/what-is-bitcoin-ultimate-guide-beginners/
What is Bitcoin? Ultimate Guide in 7000 Words
https://blockonomi.com/what-is-bitcoin-ultimate-guide-beginners/
[Daily Discussion] Monday, November 26, 2018
Thread topics include, but are not limited to:
- General discussion related to the day's events
- Technical analysis, trading ideas & strategies
- Quick questions that do not warrant a separate post
Thread guidelines:
- Be excellent to each other.
- Do not make posts outside of the daily thread for the topics mentioned above.
Other ways to interact:
- Get an invite to live chat on our Slack group
- Set your flair to trade pretend money in the Flair Game
- Weekly threads: Newbie Mondays and Fundamentals Fridays
[Newbie Monday] Week of Monday, November 26, 2018
Welcome to the Newbie Monday Weekly thread at /r/bitcoinmarkets!
This is a weekly thread where you can ask any basic questions related to bitcoin trading without shame or embarrassment.
Some rules:
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First and foremost, check out the links on the subreddit bar on the right as well as our Wiki for answers to common questions and good reading material on basic guides, strategies and indicators.
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There are no questions too stupid, as long as they are about what to do and how to do it in bitcoin trading. If you don't like a question being asked - you don't have to answer it.
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Be respectful, no name-calling.
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Try to source your answers or support with chart examples, links, etc where possible.
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This is not a a thread to ask rhetorical questions about the state of bitcoin. "With the halvening coming up, isn't it stupid not to buy every dip?" or "With only 2.7TPS how can bitcoin support a global economy" are better questions for the weekly fundamental thread.
Past Newbie Monday Threads - Link
Bitcoin price is one of the most talked topics recently. Major news sites and top finance section discuss and speculate about it. So, before we get brainwashed here is a quick guide about BTC’s history, the factors that influence it, and how to keep track of it.
https://coolwallet.io/bitcoin-price-history-and-guide/
/r/Monero Daily Discussion – November 26, 2018 - Use this thread for basic questions and if you're new to Monero
Index
- General questions
- Wallet: CLI & GUI
- Wallet: Ledger
- Nodes
1. General questions
Where can I download the Monero wallet?
There are multiple Monero wallets for a wide range of devices at your disposal. Check the table below for details and download links. All wallets listed below are open source. Attention: for extra security make sure to calculate and compare the checksum of your downloaded files.
Desktop wallets
| Wallet | Device | Description | Download link |
|---|---|---|---|
| "Official" GUI / CLI | Windows, Mac OS X, Linux | The default implementation that is maintained by the core team. Use this one to run a full node and obtain maximum privacy.Has Ledger (hardware wallet) integration. Current version: 0.13.0.3 / 0.13.0.2. | GetMonero.org |
| MyMonero | Windows, Mac OS X, Linux | MyMonero is a lightweight wallet, which means you don't need to download the blockchain and run a node. MyMonero was developed with the assistance of the core team. They also have web-based and iOS versions. | GitHub |
Mobile wallets
| Wallet | Device | Description | Download link |
|---|---|---|---|
| Monerujo | Android | Popular Android lightweight wallet that has very cool features, like integration with xmr.to which lets you send payments in BTC using your XMR. It also has Ledger (hardware wallet) integration. Website: https://www.monerujo.io/. | Google Play / F-Droid / GitHub |
| MyMonero | iOS | iOS version of the MyMonero wallet. All versions have interoperability. | App Store |
| Cake Wallet | iOS | Popular iOS lightweight wallet that has integration with MorphToken, which means you can instantly exchange your XMR to other coins and tokens. Website: https://cakewallet.io/ | App Store |
| X Wallet | iOS | Another iOS lightweight wallet. Website: https://xwallet.tech/ | App Store |
| Edge Wallet | Android / iOS | This is a multi-assets wallet, meaning you can store Monero, Bitcoin, Ethereum and other tokens in one single app. https://edge.app/ ⚠️ Relatively new - use with caution! ⚠️ | Google Play / App Store |
Web-based wallets
| Wallet | Description | Link |
|---|---|---|
| MyMonero | Web version of the MyMonero wallet. All versions have interoperability. | Web |
| XMRWallet | Web wallet with TOR support. ⚠️ Relatively new - use with caution! ⚠️ | Web / Onion URL |
How long does it take for my balance to unlock?
Your balance is unlocked after 10 confirmations (which means 10 mined blocks). A block is mined approximately every two minutes on the Monero network, so that would be around 20 minutes.
How can I prove that I sent a payment?
The fastest and most direct way is by using the ExploreMonero blockchain explorer. You will need to recover the transaction key from your wallet (complete guide for GUI / CLI).
How do I buy Monero (XMR) with Bitcoin (BTC)?
There are dozens of exchanges that trade Monero against Bitcoin and other cryptocurrencies. Check out the list on CoinMarketCap and choose the option that suits you best.
How do I buy Monero (XMR) with fiat?
- Kraken (USD and EUR): old-school, decent exchange. They might require your documents for verification and approval of your account.
- LocalMonero: peer-to-peer exchange. They have pretty much everything as a payment method and they support hundreds of fiat options.
How do I mine Monero? And other mining questions.
The correct place to ask questions and discuss the Monero mining scene is in the dedicated subreddit r/MoneroMining. That being said, you can find a list of pools and available mining software in the GetMonero.org website.
2. Wallet: CLI & GUI
Why I can't see my balance? Where is my XMR?
Before any action there are two things to check:
- Are you using the latest available version of the wallet? A new version is released roughly every 6 months, so make sure you're using the current release (compare the release on GetMonero.org with your wallet's version on
Settings, underDebug info). - Is your wallet fully synchronized? If it isn't, wait the sync to complete.
Because Monero is different from Bitcoin, wallet synchronization is not instant. The software needs to synchronize the blockchain and use your private keys to identify your transactions. Check in the lower left corner (GUI) if the wallet is synchronized.
You can't send transactions and your balance might be wrong or unavailable if the wallet is not synced with the network. So please wait.
If this is not a sufficient answer for your case and you're looking for more information, please see this answer on StackExchange.
How do I upgrade my wallet to the newest version?
This question is beautifully answered on StackExchange.
Why does it take so long to sync the wallet [for the first time]?
You have decided to use Monero's wallet and run a local node. Congratulations! You have chosen the safest and most secure option for your privacy, but unfortunately this has an initial cost. The first reason for the slowness is that you will need to download the entire blockchain, which is considerably heavy (+70 GB) and constantly growing. There are technologies being implemented in Monero to slow this growth, however it is inevitable to make this initial download to run a full node. Consider syncing to a device that has an SSD instead of an HDD, as this greatly impacts the speed of synchronization.
Now that the blockchain is on your computer, the next time you run the wallet you only need to download new blocks, which should take seconds or minutes (depending on how often you use the wallet).
I don't want to download the blockchain, how can I skip that?
The way to skip downloading the blockchain is connecting your wallet to a public remote node. You can follow this guide on how to set it up. You can find a list of public remote nodes on MoneroWorld.
Be advised that when using a public remote node you lose some of your privacy. A public remote node is able to identify your IP and opens up a range for certain attacks that further diminish your privacy. A remote node can't see your balance and it can't spend your XMR.
How do I restore my wallet from the mnemonic seed or from the keys?
To restore your wallet with the 25 word mnemonic seed, please see this guide.
To restore your wallet with your keys, please see this guide.
3. Wallet: Ledger
How do I generate a Ledger Monero Wallet with the GUI or CLI?
This question is beautifully answered on StackExchange. Check this page for the GUI instructions, and this page for the CLI instructions.
4. Nodes
How can my local node become a public remote node?
If you want to support other Monero users by making your node public, you can follow the instructions on MoneroWorld, under the section "How To Include Your Node On Moneroworld".
How can I connect my node via Tor?
This question is beautifully answered on StackExchange.
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