For those who are hesitant to start
A Detailed Introduction to Bitcoin

There probably aren't many people who still feel unfamiliar with blockchain and Bitcoin.
We encounter Bitcoin-related news in our daily lives and use blockchain-based programs.
I even hear news of acquaintances making a fortune using Bitcoin.
But getting started with Bitcoin is still not easy.
You may feel fearful because you are not familiar with the Bitcoin system and terminology, and you may be hesitant because of uncertain Bitcoin information.
Before that, there are many cases where you have no idea how to start.
That's why we need a Bitcoin book that's easy to understand and put into practice.


"The World's Kindest Bitcoin Class" provides the right direction for those curious about Bitcoin and those taking their first steps into the vast world of Bitcoin.
Even those new to cryptocurrency can easily learn about Bitcoin through friendly explanations.
By following the book's structure, you can resolve almost all your questions about Bitcoin.
"The World's Friendly Bitcoin Class" guides readers to become familiar with Bitcoin through the comics at the beginning, learn about its innovative advantages and the structure of the blockchain, and then try their hand at Bitcoin.
Furthermore, the book concludes by discussing the future value of Bitcoin and offering a perspective for the future.
The two authors provide detailed explanations and sound advice to help readers adapt to Bitcoin's amazing system.
By following Crowley, the crocodile cryptographer featured in the book, you will be able to quickly learn the concept of Bitcoin and how to use it.
You'll quickly understand the mysterious workings of Bitcoin and blockchain technology, create a Bitcoin wallet, and find yourself transacting with ease and enjoyment.

Bitcoin can be simply defined as a currency.
Just like we deal with dollars, euros, yen, and gold, we can store Bitcoin, use it to purchase various goods and services, and even exchange it for other currencies.
But what sets Bitcoin apart from traditional currencies is that it is the first digital, decentralized currency.
--- p.48

Private currencies issued by individuals, companies, or non-governmental organizations are controlled by a central authority and are at risk of collapse due to the bankruptcy of that organization or other economic factors.
Bitcoin is not a company, and no single person or organization issues or controls Bitcoin.
Therefore, it can also reduce the damage that can occur from centralized currency.
--- p.49

The issuance of new currencies is done through a cryptographic lottery called mining, in which anyone can participate.
The Bitcoin network processes new users' transactions simultaneously through mining.
To prevent abuse by those seeking to disrupt the network, Bitcoin is designed to use game theory to align incentives between those who maintain the network and those who act in their own self-interest.
--- p.53

In 2008, a practical digital currency that didn't rely on intermediaries was finally launched.
Satoshi published a paper on Bitcoin.
Bitcoin stands out from existing systems in that it is not a company or a product of any company, but rather a set of rules (protocol) that determine how digital transactions are processed on a computer network.
Anyone can read and follow the rules, but no individual can own or change these rules.
--- p.61

The turning point in Bitcoin trading occurred on May 18, 2010.
Forum user Laszlo proposed a deal where he would send 10,000 Bitcoins to someone who would order two large pizzas on his behalf.
This marked the first transaction involving the purchase of goods using Bitcoin.
At the time, most people thought Laszlo had made a profit from the deal.
But on February 9, 2011, when the value of Bitcoin equaled the value of the US dollar, everyone laughed at Laszlo.
Because Laszlo ended up paying $10,000 worth of Bitcoin for two pizzas.
--- p.64

A Bitcoin address is similar to a bank account number, and a private key is similar to a bank account password (Personal Identification Number, PIN) and is required to authorize withdrawals or spending.
When bitcoins are transferred from one address to another and the transaction is published on the Bitcoin network, computers on the network check to see if the transaction has been authorized before updating the public ledger.
--- p.94~95

All Bitcoin transactions are recorded on the blockchain.
Throughout this book, we will refer to the Bitcoin transaction ledger as the blockchain.
It is so named because new transactions are added to the ledger in large chunks, or blocks.
Whenever a new Bitcoin transaction is announced on the network, computers on the network add the new Bitcoin transaction to a pool of new transactions.
Then, approximately every 10 minutes, the transactions in that pool are bundled into blocks and added to the existing blockchain.
For the record-keeping to work properly, all Bitcoin wallet programs must have access to an up-to-date copy of the existing blockchain, and whenever a block is added, wallet programs must copy this added block and add it to their own blockchain.
--- p.104

There is a common problem that occurs when creating a new currency.
The question is how to distribute the newly minted money.
If the government were the entity that created the money, this problem would be easily solved.
Because the government can simply use the money for government services.
(Or, as in the US, the government could distribute currency through a complex process involving the Federal Reserve and Treasury bonds, or by spending government capital generated by the minting process.) The problem becomes more complex when distributing a decentralized currency with no central authority, like Bitcoin.
However, the Bitcoin system has a brilliant and rational distribution method designed by Satoshi.
Bitcoin is distributed by miners, who are willing to perform computational work to secure the network.
--- p.179

The future of Bitcoin is clear.
The combination of money and the technology of distributed ledgers, which create and provide benefits, will not disappear and will remain with us forever.

--- p.228~229