Adding Sesotho and venda
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# Welcome to Bitcoin, newcomers!
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<LanguageDropdown/>
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### Here's your FAQ:
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Q: Who should I trust?
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A: **Nobody.**
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Q: When should I sell?
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A: **Never.**
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Q: Is Bitcoin dying because ____?
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A: **No.**
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Q: What have I gotten myself into?
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A: **Nobody knows.**
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Q: How do I learn more?
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A: **We have a [wealth of content here](/translations).** Or you can visit [lopp.net](https://www.lopp.net/bitcoin-information.html)
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# About Exonumia
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The study of currency.
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docs/st/bitcoin-is-like/README.md
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# Bitcoin e tshwana le
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by Oleg Andreev [2017/12/10](https://oleganza.com/all/bitcoin-is-like/)
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**Bitcoin e tshwana le tjhelete eo o e fumanang ka letsoho:** ha e kgutlisehe mme o na le boikarabello ba ho sebetsana le yona. Ha o ka lahla sepatjhe sa hao, o lahla tjhelete ya hao. O ka fa motho e mong di-bitcoin hore a o tshwarele tsona, empa ho tla tshwana le banka efe kapa efe: o lokela ho ba tshepa hore ba ke ke ba baleha ka tjhelete ya hao.
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**Bitcoin ha e tshwane le tjhelete eo o e fumanang ka letsoho:** o ka boloka e ngata kamoo o batlang mme e ke ke ya nka sebaka sefe kapa sefe. O ka e romella ka terata ho mang kapa mang. Ha ho kgonehe hore ho ka ba le bolotsana. O ka se fane ka yona ka motsotswana o le mong: ho netefatsa hore tumellano ya kgwebo e etsahetse, o lokela ho ema metsotso e 10 ho isa ho e 15 hore bopaki ba cryptokerafiki bo hlahiswe ke netweke.
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**Bitcoin e tshwana le kgauta:** e ke se hlahiswe ka boithatelo, e na le tekanyo e fokolang mme tekanyo ena e hasane nakong ya sebaka (haholo-holo nako). Ho fumana di-bitcoin motho e mong o tlameha ho o fa tsona, kapa o lokela ho di *rafa*. Jwalo ka kgauta, Bitcoin e ya benya: e kgahla batho ho latela kamoo e hahilweng kateng, puo e kenyelleditsweng ka tumellano ya konteraka, dikgothatso tse bohlale, le tshepiso ya tokoloho ya ho lokoha qobellong.
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**Bitcoin ha e tshwane le kgauta:** phepelo ya Bitcoin e tsitsitse ka ho phethahala ka merafo e hlophisitsweng (ke feela di-bitcoin tse lekanyeditsweng tse ka etswang ka hora). O na le tiiso ya hore ha ho motho ya tla fumana ka tshohanyetso thaba ya bitgold kapa a e rafe hodima di-asteroid. Ho fapana le kgauta, bothata ba Bitcoin bo fetolelwa boitekong ba ho rafa ho boloka tlhophiso e tsitsitse. O ka tjheka kgauta kaofela ka letsatsi le le leng, empa ho ka se kgonahale ka Bitcoin ho sa tsotellehe hore na dikhomputa di potlaka hakae. Mekgwa ya ho ntlafatsa boiteko ba ho rafa e ka koba tlhophiso ka tsela e fokolang (netweke e fetola bothata ba ho hlahisa diboloko tse 6 ka hora, empa ha netweke e dula e hola e ka hlahisa diboloko tse 7 ho isa ho tse 8 ka hora).
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**Bitcoin e tshwana le banka:** ho na le dikhomputa, di-datapeisi le ditumellano tsa kgwebo. Di-datapeisi di boloka nalane yohle ya ditefo tse kenang le tse tswang: hore na ke mang ya romelletseng bokae ho mang. Ntho e nngwe le e nngwe ke ya dijithale. Ha hona dipolokelo tse nang le kgauta kapa mabokose a ho tshela a botho, ke poloko ya dibuka feela “bukeng ya direkoto” e le nngwe.
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**Bitcoin ha e tshwane le banka:** motho e mong le e mong a ka netefatsa hore datapeisi ya hae e be le pokello e tshwanang ya buka ya direkoto e kang ya batho ba bang kaofela. Ha hona mookamedi ya ikarabellang ho ntlafatsweng ha buka ya direkoto le ho etsa bonnete ba hore ha hona motho ya dubanang le yona. Motho ofe kapa ofe a ka ba le diakhaonto tse ngata kamoo a ratang mme diakhaonto kaofela ha di tsejwe (ntle le ha motho a senola boitsebiso ba hae ka boeena). Buka ya direkoto ha e boloke mabitso, ke feela ditjhelete tse setseng le dinomoro tsa diakhaonto. Ha hona monyetla wa “polokelo ya karolwana” ha banka e kadimana ka tjhelete e fetang eo e nang le yona. Ha e le hantle, ha hona dikoloto bukeng ya direkoto ya bitcoin: o ba le tjhelete atereseng ya hao mme ke ya hao kaofea, kapa ha o na yona mme o ke se e sebedise hohang. Hape, Bitcoin e dumella ho notlela tjhelete ka “dikonteraka”: Diphazele tsa cryptokerafiki tse etseditsweng ho jala ketso ya diqeto mahareng a batho ba bangata kapo ho pholletsa le nako.
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**Bitcoin e tshwana le tjhelete ya Monopoly:** ditjhelete tsa tshepe ke dipontsho tse sa tshwareheng tseo e seng ditleleimo ho boleng bofe kapa bofe. Batho ba di nka di le bohlokwa hobane ba kgetha ho bapala papadi. Ha e le hantle, ho jwalo le ka kgauta kapa tjhelete e nngwe efe kapa efe.
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**Bitcoin ha e tshwane le tjhelete ya Monopoly:** ho na le phepelo e fokolang ya dipontsho mme ha hona motho ya ka qhekellang ka tsona. Sena se etsa hore e be moemedi ya hantle wa tjhelete e amohelehang lefatsheng ka bophara jwalo ka ditjhelete tsa tshepe tsa kgauta kapa silifera.
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**Bitcoin e tshwana le Git:** ho Git (tsamaiso ya taolo ya mofuta o ajwang) ditjhentjhe tsohle tsa hao di hlophiswa kahara ketane e sireleditsweng ke diheshe tsa cryptokerafiki. Haeba o tshepa heshe ya morao-rao, o ka fumana tlhahisoleseding yohle e fetileng (kapa karolo efe kapa efe ya yona) ho tswa mohloding ofe kapa ofe mme o nne o netefatse hore ke seo o se lebelletseng. Ka ho tshwana, ho Bitcoin, ditumellano tsa kgwebo kaofela di hlophisitswe ka ketaneng (*ketane ya boloko*) mme hang hang ha e tiisitswe, ho sa tsotellehe hore na di bolokuwe kae, o ka tshepa lengetana lefe kapa lefe la ketane ya boloko ka ho lekola ketane ya diheshe tse amang le heshe eo o seng o ntse o e tshepa. Sena se nolofatsa poloko e ajwang ka tlhaho le ditlhahlobo tse bonolo tsa ho nepahala.
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**Bitcoin ha e tshwane le Git:** ka tsela eo motho e mong le e mong a ikitlaetsang ho sebetsa lekaleng le leng. Ho Git batho bohle ba ka ba le makala a mmalwa mme ba a arohanya le ho a kopanya letsatsi lohle. Ho Bitcoin motho a ke se kgone ho “kopanya” difereko. Hantle ketane ya boloko ke sefate sa dinalane tsa tumellano ya kgwebo, empa kamehla ho na le lekala le leholo ka ho fetisisa (le nang le boleng) le makalana a itseng a hlahileng ka kotsi, (a seng bolelele ba ho feta boloko kapa tse pedi) a se nang boleng hohang, Ho Git dikateng di bohlokwa hofeta makala, ho Bitcoin tumellano e bohlokwa hofeta dikateng.
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**Bitcoin e tshwana le Bittorrent:** netweke e ajuwe ka ho felletseng, ha hona “mint” o le mong kapa “banka”. Ketane ya boloko e tshwana le faele e le nngwe ho bittorrent: e tiisitswe ka cryptokerafiki mme e arolelanwe ho pholletsa le dikhomputa tse ngata. Monkakarolo e mong le e mong, ho kenyelletswa le basebetsi ba merafo ba sebetsa ka ho tshwana. Haeba karolo e le nngwe ya netweke e ferehlwa, ditumellano tsa kgwebo di ka tsamaya ka dikarolo tse ding. Esita le haeba netweke yohle e sa sebetse, tlhahisoleseding mabapi le ditumellano tsa kgwebo e ntse e bolokwa dikhomputeng tse dikete di ngata tse ikemetseng mme ha ho motho ya lahlehelwang ke tjhelete. Ha batho ba hokahana hape, ba ka tswela pele ho romela ditumellano tsa kgwebo jwalo ka ha eka ha ho letho le etsahetseng. Bitcoin le Bittorrent ka bobedi di ka phonyoha ntweng ya nutlere hobane tlhahisoleseding ha e hlahise matla mme e ka hlahiswa hape ka polokeho.
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**Bitcoin ha e tshwane le Bittorrent:** ho e na le “difaele” tse ngata tse ikemetseng, ho na le faele e le nngwe e dulang e hola: ketane ya boloko. Hape, bankakarolo ba bohlokwa ka ho fetisisa: basebetsi ba merafo ba hlile ba fumana moputso bakeng sa mosebetsi wa bona ka tjhelete ya nnete.
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**Bitcoin e tshwana le tokoloho ya ho bua:** tumellano e nngwe le e nngwe ya kgwebo ke molaetsa o mokgutshwanyane wa setjhaba o ka bolelwang ho sa tsotellehe hore na ke hokae kapa jwang. Haeba ba bang ba basebetsi ba merafo ba ka o utlwa, ba tla o eketsa ketaneng ya boloko mme molaetsa oo o tla ba teng nalaneng ka ho sa feleng. Motho e mong le e mong o tla o bona mme ha hona motho ya ka o hlakolang.
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**Bitcoin ha e tshwane le tokoloho ya ho bua:** ntho e nngwe le e nngwe e tla le ditshenyehelo. Tumellano ya kgwebo e tsamaisa ditjhelete tsohle tsa tshepe tseo o lokelang ho ba le tsona ho qala. Kahoo hase sephoqo se seng le se seng se dumelletsweng ho etsa lerata, empa ke feela ba nang le tokelo ya ho fumana ditjheletana tsa tshepe pele. Hape, basebetsi ba merafo ba ka hana tumellano ya kgwebo haeba e le e sa dumellwang kapa e sena ditefo tse lekaneng. Kahoo ho hona motho ya fang e mong tokoloho jwalo ka “biring”, empa motho e mong le e mong o leka ho sebedisana ka boithatelo.
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**Bitcoin e tshwana le konteraka ya setjhaba:** ke tshebetso e hlwekileng ya setso. E sebetsa jwalo ka tjhelete hafeela batho ba e tshwara jwalo mme ba ena le matla a ho e tshwara le ho hlompha melao ya yona. Theknoloji e hlokeha feela ho fana ka tsamaiso e dumellang phetiso ya tlhahisoleseding bakeng sa konteraka eo.
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**Bitcoin ha e tshwane le konteraka ya setjhaba:** hase mofuta wa konteraka o rutwang dikolong. Ha e fetohe habonolo, mme ha e qobellwe ke babusi ba itseng. Ke melao e sa fetoheng eo motho e mong le e mong a kgethang ho e sebedisa hodima hae, mme kahoo e eketsa tumellano e sa tsejweng.
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**Bitcoin e tshwana le tjhelete ya maselamose ya inthanete:** e jwalo feela.
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# Explain Bitcoin Like I’m Five
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by Nik Custodio [2013/12/12](https://www.freecodecamp.org/news/explain-bitcoin-like-im-five-73b4257ac833/)
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<LanguageDropdown/>
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### If you still can’t figure out what the heck a bitcoin is…
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We’re sitting on a park bench. It’s a great day.
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I have one apple with me. I give it to you.
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You now have one apple and I have zero.
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That was simple, right?
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### Let’s look closely at what happened:
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My apple was physically put into your hand.
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You know it happened. I was there. You were there. You touched it.
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We didn’t need a third person there to help us make the transfer. We didn’t need to pull in Uncle Tommy (who’s a famous judge) to sit with us on the bench and confirm that the apple went from me to you.
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The apple’s yours! I can’t give you another apple because I don’t have any left. I can’t control it anymore. The apple left my possession completely. You have full control over that apple now. You can give it to your friend if you want, and then that friend can give it to his friend. And so on.
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So that’s what an in-person exchange looks like. I guess it’s really the same, whether I’m giving you a banana, a book, or say a quarter, or a dollar bill….
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But I’m getting ahead of myself.
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### Back to apples!
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Now say, I have one digital apple. Here, I’ll give you my digital apple.
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Ah! Now it gets interesting.
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How do you know that that digital apple that used to be mine, is now yours, and only yours? Think about it for a second.
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It’s more complicated, right? How do you know that I didn’t send that apple to Uncle Tommy as an email attachment first? Or your friend Joe? Or my friend Lisa too?
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Maybe I made a couple of copies of that digital apple on my computer. Maybe I put it up on the internet and one million people downloaded it.
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As you see, this digital exchange is a bit of a problem. Sending digital apples doesn’t look like sending physical apples.
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Some brainy computer scientists actually have a name for this problem: it’s called the double-spending problem. But don’t worry about it. All you need to know is that, it’s confused them for quite some time and they’ve never solved it.
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Until now.
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But let’s try to think of a solution on our own.
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### Ledgers
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Maybe these digital apples need to be tracked in a ledger. It’s basically a book where you track all transactions — an accounting book.
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This ledger, since it’s digital, needs to live in its own world and have someone in charge of it.
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Say, just like World of Warcraft. Blizzard, the guys who created the online game, have a “digital ledger” of all the rare flaming fire swords that exist in their system. So, cool, someone like them could keep track of our digital apples. Awesome — we solved it!
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### Problems
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There’s a bit of a problem though:
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1) What if some guy over at Blizzard created more? He could just add a couple of digital apples to his balance whenever he wants!
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2) It’s not exactly like when we were on the bench that one day. It was just you and me then. Going through Blizzard is like pulling in Uncle Tommy(a third-party) out of court(did I mention he’s a famous judge?) for all our park bench transactions. How can I just hand over my digital apple to you, like, you know— the usual way?
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> Is there any way to closely replicate our park bench, just you-and-me, transaction digitally? Seems kinda tough…
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### The Solution
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What if we gave this ledger — to everybody? Instead of the ledger living on a Blizzard computer, it’ll live in everybody’s computers. All the transactions that have ever happened, from all time, in digital apples will be recorded in it.
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You can’t cheat it. I can’t send you digital apples I don’t have, because then it wouldn’t sync up with everybody in the system. It’d be a tough system to beat. Especially if it got really big.
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Plus it’s not controlled by one person, so I know there’s no one that can just decide to give himself more digital apples. The rules of the system were already defined at the beginning. And the code and rules are open-source. It’s there for the smart people to contribute to, maintain, secure, improve on, and check on.
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You could participate in this network too and update the ledger and make sure it all checks out. For the trouble, you could get like 25 digital apples as a reward. In fact, that’s the only way to create more digital apples in the system.
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### I simplified quite a bit
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… but that system I explained exists. It’s called the Bitcoin protocol. And those digital apples are the *“bitcoins”* within the system. Fancy!
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So, did you see what happened? What does the public ledger enable?
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1) It’s open source remember? The total number of apples was defined in the public ledger at the beginning. I know the exact amount that exists. Within the system, I know they are limited(scarce).
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2) When I make an exchange I now know that digital apple certifiably left my possession and is now completely yours. I used to not be able to say that about digital things. It will be updated and verified by the public ledger.
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3) Because it’s a public ledger, I didn’t need Uncle Tommy(third-party) to make sure I didn’t cheat, or make extra copies for myself, or send apples twice, or thrice…
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Within the system, the exchange of a digital apple is now just like the exchange of a physical one. It’s now as good as seeing a physical apple leave my hand and drop into your pocket. And just like on the park bench, the exchange involved two people only. You and me — we didn’t need Uncle Tommy there to make it valid.
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In other words, it behaves like a physical object.
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But you know what’s cool? It’s still digital. We can now deal with 1,000 apples, or 1 million apples, or even .0000001 apples. I can send it with a click of a button, and I can still drop it in your digital pocket if I was in Nicaragua and you were all the way in New York.
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I can even make other digital things ride on top of these digital apples! It’s digital after-all. Maybe I can attach some text on it — a digital note. Or maybe I can attach more important things; like say a contract, or a stock certificate, or an ID card…
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So this is great! How should we treat or value these “digital apples”? They’re quite useful aren’t they?
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Well, a lot of people are arguing over it now. There’s debate between this and that economic school. Between politicians. Between programmers. Don’t listen to all of them though. Some people are smart. Some are misinformed. Some say the system is worth a lot, some say it’s actually worth zero. Some guy actually put a hard number: $1,300 per apple. Some say it’s digital gold, some a currency. Other say they’re just like tulips. Some people say it’ll change the world, some say it’s just a fad.
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I have my own opinion about it.
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That’s a story for another time though. But kid, you now know more about Bitcoin than most.
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#### Recommend Reading (Updated 2017)
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[“You Don’t Understand Bitcoin Because You Think Money is Real”](https://medium.com/@mariabustillos/you-dont-understand-bitcoin-because-you-think-money-is-real-5aef45b8e952?source=linkShare-2d6f142ff3cc-1512362100) by [Maria Bustillos](https://www.freecodecamp.org/news/explain-bitcoin-like-im-five-73b4257ac833/undefined) is a good follow-up read.
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You can also read more about [Ethereum and Smart Contracts here](https://medium.freecodecamp.org/smart-contracts-for-dummies-a1ba1e0b9575?source=linkShare-2d6f142ff3cc-1512086124). Enjoy!
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# I AM HODLING
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by GameKyuubi [2013/12/18](https://bitcointalk.org/index.php?topic=375643.0)
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I type d that tyitle twice because I knew it was wrong the first time. Still wrong. w/e. GF's out at a lesbian bar, BTC crashing WHY AM I HOLDING? I'LL TELL YOU WHY. It's because I'm a bad trader and I KNOW I'M A BAD TRADER. Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro. Likewise the weak hands are like OH NO IT'S GOING DOWN I'M GONNA SELL he he he and then they're like OH GOD MY ASSHOLE when the SMART traders who KNOW WHAT THE FUCK THEY'RE DOING buy back in but you know what? I'm not part of that group. When the traders buy back in I'm already part of the market capital so GUESS WHO YOU'RE CHEATING day traders NOT ME~! Those taunt threads saying "OHH YOU SHOULD HAVE SOLD" YEAH NO SHIT. NO SHIT I SHOULD HAVE SOLD. I SHOULD HAVE SOLD MOMENTS BEFORE EVERY SELL AND BOUGHT MOMENTS BEFORE EVERY BUY BUT YOU KNOW WHAT NOT EVERYBODY IS AS COOL AS YOU. You only sell in a bear market if you are a good day trader or an illusioned noob. The people inbetween hold. In a zero-sum game such as this, traders can only take your money if you sell.
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# Exonumia Translations
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- [Welcome to Bitcoin](/)
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- [Explain Bitcoin Like I'm Five](/explain-bitcoin-like-im-five)
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- [Bitcoin Is Like](/bitcoin-is-like)
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- [I AM HODLING](/i-am-hodling)
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