Assignment on BitcoinTalk for Beginners

It has been a decade since Bitcoin was introduced.

Now, it has become an internationally renowned name in the finance and technology world, together with Satoshi Nakamato, its creator. One of his lesser known and recognised creations is the forum that he developed for being the epicentre of all aspects associated with bitcoin.

Ever since his first message in 2009, BTT or BitcoinTalk became the public communication platform and tool for cyberpunks who are working on virtual currencies. It had gained the attention of investors quickly because they had seen its potential. In these early days, Erik Voorhees, Gregory Maxwell, and Hal Finney were among the most active and influential users in these days that set the base for crypto projects taking place today.

Similar to an effectively preserved time capsule, all of the conversations of Satoshi can be seen. With over 2.4 million users and near 1.5 million views on a daily basis, BTT is actually more than just a simple forum. It is a universe of bounty hunters, hodlers, and builders.

The Crypto Collective: You might think that it is an ugly website at first glance. After all, it serves to remind of early and primitive Yahoo days. New users are left by the barebones UI to fend for themselves. Usually, when you venture in, you find out that it is really the people and not the website that serve to make this site unique and useful.

Similar to Reddit and its unique Karma system, levels are achieved by users through merit and activity. Merit are the recognition points which are given as a reward for great contribution in terms of content. You might find it interesting to know that ranking system might be the only forum where your levels have monetary value. Users with higher ranks are able to offer postings for a specific fee and they can also earn bounty rewards.

For some, even signing in is a challenge with anti-spam and anti-bot features developed in it. Some users might have to pay and give a nominal BTC fee in order to atone for the evil units which have been created by their addresses.

The members have seemingly developed a tight-knit community which is focused on the promotion of cryptocurrency and preservation of trust in the environment. It is not possible for bad actors to hide for a long time. In fact, the trust system seems to act as a Scarlet Letter for criminals. If you do not have a positive red trust, only a limited number of people will be working with you. In an environment where the majority of freelancers work together from online payments and messages, this is one of the only reliable tools for tracking scammers.

From the beginning of the hodl slogan to the commonly known pizza order, numerous milestones have occurred on BitcoinTalk. The initial distribution of NEM to four thousand people took place on the forum and at the moment, an announcement thread is issued by every ICO as its first step towards raising awareness.

Actually, the forum is seemingly segmented into a number of boards which concentrate on things such as real world politics, services, bounties, ICO announcements, and mining.

Users, in the mining threads, can share advice and suggestions on the new mining rigs along with the profitability of mining coins. In the development forums, new ideas such as different consensus mechanisms are discussed and debated. In the economy thread, discussions will seemingly impress even the most intellectual economists with topics such as Deflation of Price and Inflation.

With the passage of time, services are expanding and growing. For instance, if you want assistance in building your coin idea, it is easy for you to find numerous platforms and developers available at every level of price and talent. Services are offered by gifted designers for website creation and logo making, telegram management abilities are pitched by community operators, and details are shared by accountable for resolving some of the most complicated crypto tax issues.

When it comes to the generation of awareness around a new idea or project, bounties are recognised as an important tool. They also play an important role in distributing coins and tokens to a wide audience without having to depend on an ICO or mining. For instance, a quick look at the first page of bounties shows more than 16 million dollars up for grabs.

Skimming the Surface: It is important to note that a five minute read on BTT is not enough. Each and every threat has enough material for supporting a long story. In addition, the economy of bounties and services that the forum has seemingly developed might resemble a small nation’s GDP. Actually, it is been one of the best hidden secrets of crypto: as it is protected by its ugly and user-unfriendly appearance.

Exploring BitcoinTalk: Once you have registered, you will have to explore a few threads and forums if you have not done it already. These threads can be visited by non-users as well.

The first thing that you will notice is that an official rule or guideline list is not available. The forum together with its moderators have the right of posting deletions and dishing out bans as they find suitable. On the main page, the search will enable you to find every BTT forum and will also help you save time in finding information on a specific service or project. It is recommended to use Google Search as much as you can because the search field at BYY is rate-limited for saving resources while the Google Search has been determined to be more accurate.

BBcode is used by the forum for posting which enables you to do some incredible things such as stylising your text and adding images. You need to learn this if you have the desire of marketing your services and projects.

There is one important thing that you need to note. As a newbie, you will not be able to post often until you get a higher rank. This is mainly for the prevention of spam.