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Basic Bitcoin Knowledge

Basic answers to beginner Bitcoin questions. Bitcoin 101

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What’s The Easiest Way To Send Bitcoin?

October 15, 2022
Category: Basic Bitcoin Knowledge, Lightning
Subcategory: Bitcoin Baby Steps, Spend Bitcoin

Let's get something straight right from the start: the easiest way to send bitcoin is not going to be the best way to send bitcoin. The convenience of sending an easy bitcoin transaction is going to mean that you are making some compromises. The …

Read moreWhat’s The Easiest Way To Send Bitcoin?
blue colored pencil writing out the word "bitcoin" in childish handwriting

Bitcoin For Beginners (What You Actually Need To Know)

October 14, 2022
Category: Basic Bitcoin Knowledge
Subcategory: Bitcoin Baby Steps

A lot of bitcoin for beginner articles focus on what bitcoin is, and how it works, but I want to take a different angle. I want you to know why bitcoin is important to your life. Do you need it? Can you make money with it? Why is this thing such a …

Read moreBitcoin For Beginners (What You Actually Need To Know)
bitcoin coin with hands over eyes crying with tears

What Is A “Forced Seller” In Bitcoin?

October 13, 2022
Category: Basic Bitcoin Knowledge, The Bitcoin Economy
Subcategory: Buy Bitcoin

Simply put, a forced seller in bitcoin is someone selling bitcoin when they don't want to. They are forced to sell either by the mechanical function of the contract they are in, or they are forced to sell in order to pay for some other type of …

Read moreWhat Is A “Forced Seller” In Bitcoin?
very small dollar bill. low value. poor. Have Fun Staying Poor (HFSP)

What Does HFSP Mean?

July 7, 2022
Category: Basic Bitcoin Knowledge
Subcategory: Bitcoin Culture, Bitcoin Dictionary

You may have gotten into an argument with someone on Twitter, or seen a salty nocoiner say something about bitcoin, and then a large group of laser-eyed accounts left hundreds of responses with the acronym H.F.S.P. Sometimes, someone will just leave …

Read moreWhat Does HFSP Mean?

What Backs Bitcoin?

March 4, 2022
Category: Basic Bitcoin Knowledge
Subcategory: Bitcoin Questions, Bitcoin Technology

Bitcoin is digital money, and up until bitcoin existed, everything digital could be replicated. It was just a simple copy-paste job and you could have infinite of anything that existed online. Bitcoin was the first time that something could be both …

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small bitcoin unit (satoshi) being held between finger and thumb

What Are Sats?

February 25, 2022
Category: Basic Bitcoin Knowledge
Subcategory: Bitcoin Baby Steps

“Sats” are the shorthand way of saying satoshi, and sats are the smallest subunit of a bitcoin. Just like there are 100 cents in a dollar, there are a hundred million satoshis in a bitcoin. Sats are becoming a more common way to talk …

Read moreWhat Are Sats?
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Can You Buy A Fraction Of A Bitcoin?

February 25, 2022
Category: Basic Bitcoin Knowledge
Subcategory: Bitcoin Questions, Buy Bitcoin

Bitcoin right now is sitting at a price where most people around the world cannot afford a whole bitcoin. Even if you've taken the orange pill and understand that bitcoin will likely go up in price over the coming years and decades, what can you do …

Read moreCan You Buy A Fraction Of A Bitcoin?
physical bitcoin with trial slice taken out. fraction of a bitcoin

What Does Stacking Sats Mean?

February 17, 2022
Category: Basic Bitcoin Knowledge
Subcategory: Bitcoin Culture

You may have heard the phrase “stacking sats” used online in the context of bitcoin, or maybe you read it here on the blog. This is a popular meme in the bitcoin community, and you'll often hear it stated as stay humble and stack sats. …

Read moreWhat Does Stacking Sats Mean?
hodl meme etched into ice and water

What Does Hodl Mean?

January 21, 2022
Category: Basic Bitcoin Knowledge
Subcategory: Bitcoin Culture, Bitcoin Questions

To “hodl” is one of the oldest memes around in Bitcoin Land. As with all the best memes, it was unintentional, and its use grew organically because it was a fun, inside joke. Almost 10 years later, there are billionaires on Fox Business …

Read moreWhat Does Hodl Mean?
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What Is Money?

Money is fundamentally a form of information. Money is not about atoms, it is about bits

Hal Finney

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