Up & Running with Bitcoin by Sam Patterson With Sam Patterson

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  • Blue Square

    Up and Running with Bitcoin

    Liberty.me’s new guide to Bitcoin has just been released. Up and Running with Bitcoin, by Sam Patterson, (@spatterson) is all about how to get started with the world’s premiere cryptocurrency. (Members, you can download and read it for free here.) So, bitcoin users, tell us: what was the first thing you bought with bitcoin?  

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  • wolske

    "Ownership of bitcoins actually means ownership of [a] private key."

    Thank you for making this clear in your opening section — it’s something that so many people fail to understand, and it really is fundamental to understanding how Bitcoin works. “Bitcoins” are not stored IN your wallet; your wallet is really a set of private keys that allow you to create+sign a transaction that affects an amount of BTC. BTC isn’t really stored anywhere, except in the blockchain, where it is the result/balance of a set of transactions. The only thing I would consider revising in that section is that a wallet is a collection of many sets of public/private keys, there isn’t just one private key for the whole wallet. Every outbound transaction that doesn’t use the full balance of an existing address generates a new “change” address, for example, with a new set of public/private keys. Most of these details can be kept out-of-sight of end-users, but at the risk of having them accidentally abandon wallets by only moving the private keys that they know about (and assuming that all subsequent transactions re-used those addresses).

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  • John Jones

    $1 Worth of Bitcoin to the Next 5 New Bitcoin Wallet Owners – 4 left

    I am stealing this idea from Bruce Fenton over on Reddit, but he ok’d it: Want to learn about Bitcoin? No better way to learn about Bitcoin than to try it. This will take about 3 minutes. I’ll send $1 worth of Bitcoin free to the next 5 Liberty.me members who – 1) Download a free wallet app (I recommend Blockchain). 2) Send me the wallet address or QR code by Message or point me to the address in your profile. Bingo, you get Bitcoin and see how it works first hand. Newcomers only please. If you pros want to scam me out of a buck so be it, but I am not too worried about that here. John.

    Jump to Discussion Post 20 replies
  • Robert Murphy

    Online Predictions of Bitcoin Bubble?

    Hi everyone, I’m working on an article talking about whether Bitcoin is in a bubble. I vaguely remember at many points over the last few years when financial bloggers declared, “That’s it, we’ve seen Bitcoin run its course.” Can people give me link(s) to a few of these, ideally from “famous” pundits?

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Feeling overwhelmed by the rise of Bitcoin? Don’t know where to start? It’s new, it’s complicated, and it’s based on math, but Sam Patterson demystifies Bitcoin in his new Liberty Guide available free to subscribers of Liberty.me. Join Sam for a discussion of his new guide and to get your questions answered Wednesday, June 18th at 9pm EDT!

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