Basic Concepts

In the Basic Concepts category you will find introductory articles that range from the very basics (such as the ELI5 subsection) to medium difficulty subjects (e.g. beginning programming).

The concepts presented on this section are recommended for those beginning with cryptocurrency programming, investing, mining and other crypto related activities which involve some technical background.

ELI5 What is Bitmessage? by @Cryptobill
Bitmessage is a messaging protocol designed by Jonathan Warren in 2012. The purpose of Bitmessage is to allow parties to communicate with each other in a secure and 100% decentr...
ELI5: What is a cryptocurrency full node? by @Cryptobill
A full node is a network connected program which runs an official cryptocurrency client and has the ability to verify messages, transactions and blocks. Full nodes may or may no...
Why are there so many cryptocurrency exchanges? by @Cryptobill
You may have noticed the "EX" suffix appears a lot in the cryptocurrency niche? BitMEX, Poloniex, Bittrex, Goatsex, you name it. If it ends in EX, then it's probably related ...
ELI5: Cryptocurrency master keys by @Cryptobill
A cryptocurrency master key is a theoretical concept where one specially crafted cryptographic private key would be able to decrypt ciphertext encrypted using any public key. As...
ELI5 Crypto cap by @Cryptobill
"Crypto cap" may refer to different things, depending on context. Unless it's a stylish wearable hat with a reference to cryptocurrencies on it, then crypto cap probably refers ...
Can I buy Bitcoin at Walmart? by @Cryptobill
It's not possible to buy Bitcoin at Walmart directly but there are indirect methods that you can use. Some sellers do not accept cash, Visa or Mastercard (!) on their Bitcoin sa...
ELI5 Is Coinbase safe? by @Cryptobill
There's an old saying by cryptocurrency experts that goes a little like this: "if you don't control your private key, then you don't really own cryptocurrency." This is technica...
ELI5 How many Bitcoins are there? Is the number of Bitcoins limited? by @Cryptobill
tl;dr; There are 17.4 million Bitcoins in circulation at the time of this writing. Bitcoin supply is limited at 21 million BTC. This limit will be reached in the far future as bloc...
ELI5 How to mine Litecoin by @Cryptobill
Litecoin is a top 10 ranked cryptocurrency that's been around since 2011. It was forked from the main Bitcoin source code by a developer called Charlie Lee. Bitcoin's hashing...
ELI5: What is Cryptocurrency Micromining? by @Cryptobill
Micro mining is a type of cryptocurrency mining where large quantities of small, and low computing power, devices perform the mining work. The idea stemmed from concepts related...