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How Does Bitcoin Work?Bitcoin is an open-sourced software program which allows users to participate and maintain the network in one or more of the following ways:
Wallet holders store bitcoin in a wallet identified by a "public key" address and secured by a "private key". Node operators keep a copy of the transaction record (blockchain) and identify valid transactions and valid blocks which are then broadcast to other nodes in the system. Miners use specialized computers to solve complex puzzles that result in the code for the next batch of transactions that can be added to the blockchain. Solving the puzzle and adding the block results in a reward of newly minted bitcoin. |
How Do I Buy Bitcoin?
Bitcoin can be purchased through an online exchange (most common) or through peer-to-peer meetings.
Regulated exchanges in the US include Swan Bitcoin, Coinbase, and many others. |
How do I store Bitcoin? |
Bitcoin can be stored on a small USB hardware wallet device, on wallet software on your phone, or with a 3rd party custodian or exchange.
Consulting
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Are you interested in learning more about Bitcoin? I provide the following services:
One-on-One consulting (via Zoom or in-person) on the topics of Bitcoin purchasing, safe custody and storage options, and more. Small group presentations (via Zoom or in-person) on a number of bitcoin related topics. Free monthly Bitcoin for Beginners presentations at several venues around the Portland, OR area. |