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myarbrough@oreilly.com 2014-11-18 05:40:31 -08:00
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@ -153,12 +153,12 @@ There are four other methods for getting bitcoins as a new user:
* Sell a product or service for bitcoin. If you're a programmer, sell your programming skills.
* Use((("ATMs, bitcoin")))((("bitcoin ATMs"))) a bitcoin ATM in your city. Find a bitcoin ATM close to you using an online map from http://www.coindesk.com/bitcoin-atm-map/[CoinDesk].
Alice was introduced to bitcoin by a friend and so she has an easy way of getting her first bitcoin while she waits for her account on a California currency market to be verified and activated.
Alice was introduced to bitcoin by a friend and so she has an easy way of getting her first bitcoins while she waits for her account on a California currency market to be verified and activated.
[[sending_receiving]]
==== Sending and Receiving Bitcoins
((("bitcoin","sending/receiving", id="ix_ch01-asciidoc1", range="startofrange")))Alice has created her bitcoin wallet and she is now ready to receive funds. Her wallet application randomly generated a private key (described in more detail in <<private_keys>>) together with its corresponding bitcoin address. At this point, her bitcoin address is not known to the bitcoin network or "registered" with any part of the bitcoin system. Her bitcoin address is simply a number that corresponds to a key that she can use to control access to the funds. There is no account or association between that address and an account. Until the moment this address is referenced as the recipient of value in a transaction posted on the bitcoin ledger (the blockchain), it is simply part of the vast number of possible addresses that are "valid" in bitcoin. Once it has been associated with a transaction, it becomes part of the known addresses in the network and Alice can check its balance on the public ledger.
((("bitcoin","sending/receiving", id="ix_ch01-asciidoc1", range="startofrange")))Alice has created her bitcoin wallet and she is now ready to receive funds. Her wallet application randomly generated a private key (described in more detail in <<private_keys>>) together with its corresponding bitcoin address. At this point, her bitcoin address is not known to the bitcoin network or "registered" with any part of the bitcoin system. Her bitcoin address is simply a number that corresponds to a key that she can use to control access to the funds. There is no account or association between that address and an account. Until the moment this address is referenced as the recipient of value in a transaction posted on the bitcoin ledger (the block chain), it is simply part of the vast number of possible addresses that are "valid" in bitcoin. Once it has been associated with a transaction, it becomes part of the known addresses in the network and Alice can check its balance on the public ledger.
Alice meets her friend Joe, who introduced her to bitcoin, at a local restaurant so they can exchange some US dollars and put some bitcoins into her account. She has brought a printout of her address and the QR code as displayed in her bitcoin wallet. There is nothing sensitive, from a security perspective, about the bitcoin address. It can be posted anywhere without risking the security of her account.
@ -166,24 +166,24 @@ Alice wants to convert just 10 US dollars into bitcoin, so as not to risk too mu
((("exchange rate, finding")))Next, Joe has to figure out the exchange rate so that he can give the correct amount of bitcoin to Alice. There are hundreds of applications and websites that can provide the current market rate. Here are some of the most popular:
* http://bitcoincharts.com/[bitcoincharts.com], ((("bitcoincharts.com")))a market data listing service that shows the market rate of bitcoin across many exchanges around the globe, denominated in different local currencies
* http://bitcoinaverage.com/[bitcoinaverage.com], ((("bitcoinaverage.com")))a site that provides a simple view of the volume-weighted-average for each currency
* http://www.zeroblock.com/[ZeroBlock], ((("ZeroBlock")))a free Android and iOS application that can display a bitcoin price from different exchanges (see <<zeroblock-android>>)
* http://www.bitcoinwisdom.com/[bitcoinwisdom.com], ((("bitcoinwisdom.com")))another market data listing service
http://bitcoincharts.com[Bitcoin Charts]:: ((("bitcoincharts.com")))A market data listing service that shows the market rate of bitcoin across many exchanges around the globe, denominated in different local currencies
http://bitcoinaverage.com/[Bitcoin Average]:: ((("bitcoinaverage.com")))A site that provides a simple view of the volume-weighted-average for each currency
http://www.zeroblock.com/[ZeroBlock]:: ((("ZeroBlock")))A free Android and iOS application that can display a bitcoin price from different exchanges (see <<zeroblock-android>>)
http://www.bitcoinwisdom.com/[Bitcoin Wisdom]:: ((("bitcoinwisdom.com")))Another market data listing service
[[zeroblock-android]]
.ZeroBlock—A bitcoin market-rate application for Android and iOS
.ZeroBlock, a bitcoin market-rate application for Android and iOS
image::images/msbt_0103.png["zeroblock screenshot"]
Using one of the applications or websites just listed, Joe determines the price of bitcoin to be approximately 100 US dollars per bitcoin. At that rate he should give Alice 0.10 bitcoin, also known as 100 millibits, in return for the 10 US dollars she gave him.
Once Joe has established a fair exchange price, he opens his mobile wallet application and selects to "send" bitcoin. For example, if using the _Blockchain_ mobile wallet on an Android phone, he would see a screen requesting two inputs, as shown in <<blockchain-mobile-send>>.
Once Joe has established a fair exchange price, he opens his mobile wallet application and selects to "send" bitcoin. For example, if using the Blockchain mobile wallet on an Android phone, he would see a screen requesting two inputs, as shown in <<blockchain-mobile-send>>.
* The destination bitcoin address for the transaction
* The amount of bitcoin to send
[[blockchain-mobile-send]]
.Bitcoin mobile wallet—Send bitcoin screen
.Blockchain mobile wallet's bitcoin send screen
image::images/msbt_0104.png["blockchain mobile send screen"]
In the input field for the bitcoin address, there is a small icon that looks like a QR code. This allows Joe to scan the barcode with his smartphone camera so that he doesn't have to type in Alice's bitcoin address (+1Cdid9KFAaatwczBwBttQcwXYCpvK8h7FK+), which is quite long and difficult to type. Joe taps the QR code icon and activates the smartphone camera, scanning the QR code from Alice's printed wallet that she brought with her. The mobile wallet application fills in the bitcoin address and Joe can check that it scanned correctly by comparing a few digits from the address with the address printed by Alice.