Working with Bitcoin involves the use of wallets and clients, and it's important to understand the security and regulatory considerations when working with the digital currency. In this course, you'll learn about working with Bitcoin, including wallets and how they work, Bitcoin clients and design, and security and regulatory considerations for working with Bitcoin.

Learning Objectives

Bitcoin Mining

  • explain the purpose of mining, the value to miners, and how new bitcoins are created

  • describe Bitcoin mining, proof-of-work, and pooled mining

  • explain mining and processing, and the purpose and types of mining hardware

Working with Wallets

  • describe the types of wallets

  • explain deterministic wallets

  • describe how to secure wallets

  • explain passphrase-encrypted wallets


Bitcoin Clients

  • describe full node and thin clients and security issues relating to both

  • explain the Wallet Input Format (WIF) and importing and exporting functionality in Bitcoin wallets

  • explain how to backup Bitcoin

  • explain Bitcoin transactions and fees

  • describe the various security issues with Bitcoin

Bitcoin Design

  • explain cold storage and offline Bitcoins

  • discuss conjoining and block trades

  • describe how merchants can accept bitcoins

Security Considerations

  • describe payment processors and what they do

  • describe the secure payment protocol (BIP70) and how it's used

  • explain regulatory and compliance issues surrounding Bitcoin

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