[Roscoe_Word]

Hello Forum. Many thanks to the Forum for explaining the BTC to BOOK method, the setting up of an exchange and a blockchain wallet.

I recently visited the CoinDesk Site (not Coinbase) and was overwhelmed with the terminology.

May I ask the Forum some questions?

TOTAL BTC at Coinbase reads 15,746,475. Is that the number of Bitcoins in existence currently?

Can someone or some cabal flood the BTC network with millions of more Bitcoins thereby devaluing the cryptocurrency? (as does the FED with US Dollars)

Is the procedure of entering Bitcoins into the Market what "miners" do?

I'm afraid of unscrupulous world banker types hacking the BTC market and ruining our thing as they do by their sinister acts of fractional reserve and money printing.

Please excuse the naivete of these questions as I'm not the most worldly.

[Optional]

TOTAL BTC at Coinbase reads 15,746,475. Is that the number of Bitcoins in existence currently?

Yes. You will find some more easy to understand stats here: http://www.bitcoinblockhalf.com/

Can someone or some cabal flood the BTC network with millions of more Bitcoins thereby devaluing the cryptocurrency? (as does the FED with US Dollars)

No. There is a fixed maximum number and a fairly fixed schedule they are released in. See that link above for figures.

Is the procedure of entering Bitcoins into the Market what "miners" do?

Yes. In return for supplying the computer power to verify transactions for the network, they are paid in brand new created bitcoin for each block of transactions they 'solve'. (they also receive fees from each sender who adds them)

That link above is a countdown to a set moment when the miners are suddenly going to be paid half as much by the newtwork. So they will probably require more from us users.

I'm afraid of unscrupulous world banker types hacking the BTC market and ruining our thing as they do by their sinister acts of fractional reserve and money printing.

This is not really an issue to be too concerned about. It was built to withstand this sort of thing. Common wisdom says a small number of Chinese control a disproportionate amount of the coin and can manipulate the price on their own though.

[Roscoe_Word]

TOTAL BTC at Coinbase reads 15,746,475. Is that the number of Bitcoins in existence currently?

Yes. You will find some more easy to understand stats here: http://www.bitcoinblockhalf.com/

Can someone or some cabal flood the BTC network with millions of more Bitcoins thereby devaluing the cryptocurrency? (as does the FED with US Dollars)

No. There is a fixed maximum number and a fairly fixed schedule they are released in. See that link above for figures.

Is the procedure of entering Bitcoins into the Market what "miners" do?

Yes. In return for supplying the computer power to verify transactions for the network, they are paid in brand new created bitcoin for each block of transactions they 'solve'. (they also receive fees from each sender who adds them)

That link above is a countdown to a set moment when the miners are suddenly going to be paid half as much by the newtwork. So they will probably require more from us users.

I'm afraid of unscrupulous world banker types hacking the BTC market and ruining our thing as they do by their sinister acts of fractional reserve and money printing.

This is not really an issue to be too concerned about. It was built to withstand this sort of thing. Common wisdom says a small number of Chinese control a disproportionate amount of the coin and can manipulate the price on their own though.

Thanks very much for the info given in a comprehendible manner for a novice. Have learned a lot from SBR which has made my sports betting more streamlined.

Knowledgeable staff and posters are appreciated. Could not have figured out the BTC process otherwise.

[QuantumLeap]

Can someone or some cabal flood the BTC network with millions of more Bitcoins thereby devaluing the cryptocurrency? (as does the FED with US Dollars)

No. There is a fixed maximum number and a fairly fixed schedule they are released in. See that link above for figures.

While no one can flood the network with bitcoins since the total number is known, there are many bitcoins in the hands of the early developers who CAN flood the bitcoin markets which would cause the price to plummet. That, however, would dilute the value of the bitcoins they own. They would do well to wait until the price gets significantly higher (and it will).