So what exactly is Bitcoin about?
- The best way to explain what bitcoin, would be to have a look at: Weusecoins.com.
How would I be able to go about obtaining bitcoins?
- There are many ways to obtain bitcoins. One such way would be, of course to purchase them. For American users, I would suggest using: Coinbase and for EU users, I would suggest using: Bitstamp, and also, there is localbitcoins. However, this is not the only way to obtain Bitcoins, you can also work for people on /r/Jobs4Bitcoins or you could use a Faucet. Furthermore, if you are the owner of a website, you could advertise with CoinUrl and get paid in Bitcoins.
Is it the right time to invest in Bitcoins?
- Well, that ultimately is up to you, whether it is worth it or not. You should try and make up your own mind, check the charts on how it has generally been doing over the past day, week, month, year, etc. The only piece of advice that is unanimous within the bitcoin community is to only put in an amount which you wouldn't mind losing, as I said before, Bitcoin is a volatile market.
What can I purchase with Bitcoins?
- There are many things that you can purchase with bitcoins, there is of course the BitcoinTalk Forums whereby people buy and sell real life, and virtual goods. Additionally, you can purchase things such as Hotels, food, and much, much more, all in real life, if you are unsure if you are close to a retailer who accepts bitcoins, check out: Coinmap. Aswell, as a bitcoin marketplace, Bitmit. Additionally, there are major websites which accept Bitcoins, including, but not limited to: Reddit - Gold feature, OKCupid, BitcoinStore and Bitcoin Sex toys.
Why do different Bitcoin exchanges have different prices?
- The main reason for this is that MtGox who was once the biggest exchange platform has not given out USD withdrawals in quite sometime. Therefore, the price of a dollar is not worth the same in MtGox, as they have all their customers money. However, the rest of the sites will only vary very slightly and that will be due to, for the most part, things out of their control, but they should be within dollars of each other.
What's the best wallet for me to use?
- Well, that is up to you. If you highly regard security, therefore, like to be in total control of things yourself, I would suggest the Bitcoin-Qt client. This means that you are solely responsible for your own coins. If you format the computer, or in some way delete the bitcoin folder, your coins are gone forever. Additionally, you have to sync all of the blockchain, and this can be quite time consuming, and so others rather such wallets as Blockchain. This is an on-line wallet that keeps all wallets up-to-date and keeps your bitcoins safe for you. In essence, the decision is up to you.
Is GPU mining still profitable for me?
- Simple answer, no. Due to ASIC Miners, GPU mining has became no longer feasible. ASIC miners can do terrahashes, whereas GPUs can only hit megahashs. Therefore it will cost you more in electric to mine bitcoins. If you are insistent on mining, you would have to invest in dedicated ASIC miners which are going to cost you a lot of money and may not be delivered within 2 weeks™.
Are there any gambling websites that I can play on?
- Good question. Back in the days when Bitcoin was very young, there wasn't much to spend your bitcoins on in exchange for anything, so people set up gambling websites. Such include: SatoshiDice(Does not allow US players.), Just-Dice, Betcoin, PrimeDice, Bitvegas, IceDice and LetsDice to name but a few.
If you have any other questions, email me: admin[@]altcointicker.com