Here is a summary of all that I learned about bitcoin

## Lesson 1: Cryptocurrencies and Bitcoin 

Centralized monetary systems such as the U.S. Federal Reserve System the government controls the supply of money by printing (minting) new units of money. Bitcoin invented in 2009 by Satoshi Nakamoto is a decentralized cryptocurrency. It can be transferred anywhere in the world without control or limitations by banks or governments. Bitcoin by far is the most popular digital currency today and it has tens of thousands of programmers and merchants developing new services and apps. It is deflationary and open source. It is considered safe compared to other cryptocurrencies.

> https://steemit.com/bitcoin/@husamia/lesson-the-basics-of-cryptocurrencies-and-bitcoin

## Lesson 2: Essentials of Bitcoin ##

A Bitcoin Wallet protects access to your money. Bitcoins are stored in public ledger database called blockchain. You can buy, or trade Bitcoins at exchanges and ATMs around the world. Bitcoin supply is limited and is created with each block and it is deflationary by design. The value of Bitcoin is expected to increase due to scarcity in the future. It is mined or discovered by a network of computer nodes around the world. Until it becomes accepted currency for payments globally, it will continue to be more popular amongst traders and speculators and some merchants rathers than the general population. The price is subject to market forces of supply and demand which at this moment goes hand in hand with speculators. The price can move suddenly and sharply up or down in response to new events. 

> https://steemit.com/bitcoin/@husamia/lesson-the-essential-of-bitcoin

## Lesson 3: Bitcoin Exchange Rates ##
the supply of Bitcoin is limited to 21 million coins, this makes the supply limited. In early 2011 one bitcoin was worth less than one USD, today one bitcoin is worth more than 10 thousand USD. If Bitcoin becomes popular in future, each Bitcoin will likely be worth hundreds of thousands of dollars. All that is required for Bitcoin to stabilize is trust and adoption. Bitcoin stabilization is measured by growing base of users, merchants, and start-up companies. The direct price of Bitcoin stems from people willingness to accept it as digital payment or trade. 

> https://steemit.com/bitcoin/@husamia/lesson-bitcoin-value-laws

## Lesson 4: Bitcoin Wallets ## 
 There are a wide range of Wallet options availeble. Bitcoin wallets do not store bitcoins, they hold the private and public keys used to send transactions to the decentralized blockchain ledger. 
The main types of Wallets are:
- #Software: connect to the network and allow user to send and receive bitcoins in addition to storing private and public keys. They are usually in form of mobile application or desktop application.
- #Online: they offer similar functionality to software wallers but they are easier to use. The private and public keys are stored with the online wallet provider rather than the owner's hardware and it can be easily accessed across multiple devices. 
- #Physical: store the public and private keys offline. Simply just like a peice of printed paper. A type of physical waller is a hardware wallet. It is typically used to store credentials long-term. It's one of the safest methods because it comes with encryption keys and may not be connected to a computer reducing the possibility of it being stolen. There are a variety of offline wallets at affordable prices. 

if you own a lot of bitcoin it is good practice to divide them in several different wallets. Bitcoin.com Wallet is great wallet with lots of features https://www.bitcoin.com/choose-your-wallet/bitcoin-com-wallet 

> https://steemit.com/bitcoin/@husamia/lesson-bitcoin-wallet-is-very-precious

## Lesson 6: Buying Bitcoin ##
Bitcoins are sold and exchanges like other currencies through exchanges, credit card, PayPal, or goods and services. Just like exchanging cash Bitcoin can be exchanged for other goods and services with people directly. 

> https://steemit.com/bitcoin/@husamia/lesson-6-how-to-buy-bitcoin

## Lesson 7: Using Bitcoin ##
There are over 100,000 merchants who accept Bitcoin as payment for goods and services. Here is a site that gives you listings of all places that accept Bitcoin http://spendbitcoins.com/places/ 
You can also sign up for Bitcoin debit card using Bitcoin as payment in just about any store that accepts Debit Cards. Here is a site that lists current companies offering Bitcoin Debit Cards https://www.bitcoin.com/bitcoin-card 
also use best practices to not get ripped off when spending bitcoin

> https://steemit.com/bitcoin/@husamia/bitcoin-basics-lesson-transactions-and-the-blockchain

## Lesson 8: Bitcoin Mining ## 
The bitcoin mining is the process of adding and confirming transaction records on to the blockchain public ledger using cryptographic proof of computational work. This process created new bitcoins with each newly validated blocks. Mining is therefore computationally intensive due to competition and specialized hardware designed to optimized the cryptographic work in large data centers. 

> https://steemit.com/bitcoin/@husamia/lesson-8-bitcoin-mining

## Lesson 9: Bitcoin Exchanges ##

It is important to find the one exchange that suits your personal needs. You also know that ID verification can take few days and your identity is required by law. You know there are tips to figuring out how an exchange is secure by checking things like SSL encryption and 2FA (two factor authentication), and doing google search for complaints or reviews. here is a place to start looking for exchanges https://www.bitcoin.com/buy-bitcoin?utm_source=Bitcoin.com+Subscribers&utm_campaign=1338448329-AUTOMATION__BTC101_Day_9&utm_medium=email&utm_term=0_ea978414cb-1338448329-216387693&goal=0_ea978414cb-1338448329-216387693&mc_cid=1338448329&mc_eid=1d260a356d 

> https://steemit.com/bitcoin/@husamia/lesson-9-bitcoin-exchanges

## What's Next? ##

Get yourself a Bitcoin Wallet. [Purchase](https://buy.bitcoin.com/?utm_source=Bitcoin.com+Subscribers&utm_campaign=9bc2fb6faf-AUTOMATION__BTC101_Day_10&utm_medium=email&utm_term=0_ea978414cb-9bc2fb6faf-216387693&goal=0_ea978414cb-9bc2fb6faf-216387693&mc_cid=9bc2fb6faf&mc_eid=1d260a356d) or trade some Bitcoins, and start experimenting with the things you can do with Bitcoin. I personally found Coinbase to be a great exchange that makes it easy to purchase Bitcoin with bank transfer, provides security and there is Bitcoin Vault which I use to move my Bitcoins to if I am not going to be using them in short term. This adds additional withdrawal limits and layers of security. Use the link to get free $10 woth of Bitcoins if you plan on purchasing more than $100 [https://www.coinbase.com/join/](https://www.coinbase.com/join/57804909e2c4ee01a4000a10)

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