# Understanding the basics of bitcoin

**URL:** <https://www.robotexchange.io/t/understanding-the-basics-of-bitcoin/975>\
**Category:** Public forum\
**Created:** [January 24, 2020, 7:03pm UTC](https://www.robotexchange.io/t/understanding-the-basics-of-bitcoin/975 "2020-01-24T19:03:38Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![thijs](https://www.robotexchange.io/user_avatar/www.robotexchange.io/thijs/32/4_2.png) [@thijs](https://www.robotexchange.io/u/thijs)\
**Post date:** [January 24, 2020, 7:03pm UTC](https://www.robotexchange.io/t/understanding-the-basics-of-bitcoin/975/1 "2020-01-24T19:03:39Z")

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> **DISCLAIMER** You should never take financial advise from a robotics teacher. Though I am personally enthusiastic about the technology and the idea behind it, and I am a staunch [hodler](https://www.urbandictionary.com/define.php?term=Hodler) who owns some, do **NOT** assume Bitcoin to be stable. It is very risky, and do not take this info to be reliable (except for the technical part of course).
> 
> **In short: nothing here implies any investment advise!!**

Read in order:

1. The [original paper by the creator of Bitcoin](https://bitcoin.org/bitcoin.pdf): technical foundations
2. Article [The Bullish Case for Bitcoin](https://medium.com/@vijayboyapati/the-bullish-case-for-bitcoin-6ecc8bdecc1): economic view _(warning: very pro-bitcoin)_
3. Book [The Bitcoin Standard](https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861): the best book on the matter. It’s mostly about the background of money, and only then delves into the solution and implementation.

# How to buy

If you want to play with Bitcoin, you can buy yourself a few Satoshi (1 BTC = 100,000,000 sat)

1. Create your own address at [https://bitaddress.org](https://bitaddress.org/) . Make sure to **download the page, go offline and then open the page from your own hard drive!!** (There are better ways to create and store addresses, but to just get started this is more than fine)
2. Head over to (for example) [https://www.bitonic.nl](https://www.bitonic.nl/) and have them transfer the BTC to your address.

# Price prediction models

> **Highly speculative!!** But interesting nonetheless:

- [Stock to flow model tracker](https://digitalik.net/btc/sf_model/EUR) (price based on ever fewer bitcoins being ‘mined’).