What is Bitcoin?

Bitcoin is a new and innovative payment network that uses peer-to-peer technology with no central authority or banks involved. Managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls the digital currency and everyone can take part. Through many of its unique and revolutionary properties, the digital currency allows exciting uses that could not be covered by any conventional payment system .

When you are a new user, you can get started with BTC without understanding the technical details. Once you have installed a wallet on your computer or mobile phone, it will generate your first BTC address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once.

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What is a Satoshi?

A satoshi is the smallest fraction of a Bitcoin, or 0.00000001BTC. so 1,000 satoshi is worth 0.00001000BTC.

What is a faucet?

A faucet is a website that offers its users small amounts of BTC(satoshi) for completing easy tasks. Normally you have to enter your wallet address and solve a captcha (to prevent bots) or play a simple game and get paid.

How do I get paid?

If you want to have your satoshi(bitcoins) paid out you will need a wallet. There are many wallets to choose from but the most prominent one is the Blockchain Wallet which can be found here

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What is Bitcoin Mining?

Bitcoin mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Technically you can mine bitcoins yourself from home but that would require knowledge, space and financial resources, therefore bitcoin mining is done by specialized companies such as Genesis Mining.

What is Genesis Mining?

Genesis Mining is an easy and safe way to purchase hashpower without having to deal with complex hardware and software setup. They are a team of mining experts with extensive knowledge of the digital currency sector. Genesis Mining specializes in building the most efficient and reliable mining rigs that are offered for rent to prospective clients.

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What is Bitcoin? (v2)

The most watched Bitcoin introduction video ever. This updated (04/2014) video explains how bitcoin works and the importance of this paradigm shifting technology.

More information:
https://www.weusecoins.com
https://www.bitcoinmining.com

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This short animated video is an introduction to Bitcoin made possible with donations of time and money from the Bitcoin community.

Want to see more? Please donate.

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Credits:
Voice - Chris Rice (www.ricevoice.com)
Motion Graphics - Fabian Rühle (www.fabianruehle.de)
Music - Christian Barth (www.akkord-arbeiter.de)
Sound Design/Mastering - Andrew Mottl (www.andrewmottl.com)