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  • Bitcoins and How to get a Bitcoin Wallet

    WHAT ARE BITCOINS & HOW CAN I USE THEM

    Bitcoin is a decentralised currency or payment method (a form of digital currency). It uses peer to peer technology to operate and is not affiliated with any government or authoritarian body. In a mat- ter of speaking it is the new form of electronic money. Bitcoins are exchanged peer-to-peer just like cash, making it the Internets trusted currency.

    So you probably ask why is this tutorial on Bitcoin being posted on a torrent site? Well it’s simple. So many people are sick of using typical currencies for donations and subscriptions when it comes to their trackers and so on.

    As with most things in life, there is always something more current and more user friendly. Although there is no solid record of Bitcoin prior to 2010, many Torrent Tracker Sites are using Bitcoin as a method of payment for donations and support. So many more industries have followed suite and soon enough Bitcoin will be rec- ognised all around the world as the Number 1 currency for Internet Transactions.


    YOUR PORTAL INTO THE WORLD OF BITCOIN



    The process is relatively simple and I have prepared a simple, user friendly way for you to set up a Bitcoin wallet and start using this new currency.


    Step 1— Get a Bitcoin Wallet....


    The Original Bitcoin Client is free, open-source software. The current version is 0.7.2, download it here:

    Windows


    Windows Setup (9.2MB)


    Mac

    Mac Installer (12.0MB)


    Linux

    Code & Binaries (11.1MB)

    - Once you have downloaded the applicable client, simply install it as you would any other program, platform or client. Once installed, an automatically generated wallet will be added to your PC and will begin to download your transaction history.


    - There are other ways to obtain a Bitcoin Wallet, and some places you will find this available at are :Coinbase, InstaWallet orMyWallet.



    Step 2— Get Bitcoins.....



    There are 2 main ways to get Bitcoins. These are :
    1. Bonus Programs— This is by far not the easiest way to obtain
    Bitcoins but once your transactions have been downloaded and you have some time, give this a go. You will see Bitcoins are not that easy to get so this is a sure way of starting up your bank.
    2. Local traders in your area. You can check who these are at LocalBitcoins.com and TradeBitcoin.com


    Now once you have some Bitcoins in your account / wallet, you can start to use them. You will find that they are not cheap but once you get your wallet filled, it is a great, secure way to make your donations or purchases for that matter.


    For a more comprehensive look at Bitcoin related feature go to the Trade Page on the Bitcoin Wiki.


    Also see places like BitMe for Bit Auctions and to turn your Bitcoins into giftcards from all the major companies like I Tunes, Amazon etc, see SpendBitcoins.com.


    Finally, over the counter trading via IRC chat in Bitcoin OTC is great as well.


    As you will see, Bitcoin is the currency of the future and I hope you found this Tutorial helpful. (as it was my first).

    Masterguru
    Last edited by masterguru; January 10, 2013, 07:47 AM. Reason: Fix Text

  • #2
    Nice tutorial, didn't know about the bonus programs but then again I kind of zoned out a bit because I didn't have a large enough network of computers to run to mine coins :P.


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    • #3
      Thanks for the tutorial...been seeing stuff about bitcoins popping up more frequently as of late....your advice seems like a nice and easy way to jump in

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      • #4
        Nice tutorial. However for anyone who's interested in bitcoins, note that your coins can be stolen if you're not careful.
        The bitcoin related files on your computer are equivalent to your wallet. If you're worried, you might want to avoid having too many bitcoins on a single computer.

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        • #5
          TL has bitcoins but i never figured it how it works until now. thanks for the tutorial..

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          • #6
            I appreciate everyone's positive feedback on my tutorial and likes also.
            Thanks again
            Masterguru

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            • #7
              Some strange hyphenating in the text (copy/pasted the text?) here and there.
              If you could correct that, would make it easier to read.

              Other than that a good intro into the world of bitcoins.


              +1 for the blockchain (or Mywallet as you call it). Got good experiences there and they make it easy to make backups of your wallet.
              Thank u freu0047 for repping me!

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              • #8
                Originally posted by poit View Post
                Some strange hyphenating in the text (copy/pasted the text?) here and there.
                If you could correct that, would make it easier to read.

                Other than that a good intro into the world of bitcoins.


                +1 for the blockchain (or Mywallet as you call it). Got good experiences there and they make it easy to make backups of your wallet.
                Thank you very much for the feedback, I have now fixed it, thanks for the +1
                Masterguru

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                • #9
                  Nice and quick tutorial. You might want to clean it up a bit though "cli- ent" whats with the "-"?

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                  • #10
                    Just fixed it for the second time, my PC is doing strange things tonight.....or ,maybe its just me lol
                    Glad you liked it!!
                    Masterguru

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                    • #11
                      Great tutorial, I was unfamiliar with bitcoin myself, but seeing how paypal has joined in the fight against priacy this might be a good alternative.

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                      • #12
                        As for wallets being stolen, this happens alot, the best thing you can do IMO is make a small encrypted container with Truecrypt and drop your wallet in there. You can just generate a password with something like Keepass in a database on a USB stick or you can try something youself, the more characters the safer you are and the more random your text/numbers/symbols are the safer you are aswell.


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                        _.-=' Special thanks to SiniuS for making me VIP and to Gblaze for graph work :)
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                        • #13
                          Great Guide, Didn't even know about bitcoins until now, Now im mining away :D
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                          • #14
                            Very nice tutorial. Thanks

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                            • #15
                              great tutorial didn't know about bonus system
                              will try this

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