/r/Bitcoin
Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.
Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.
If you are new to Bitcoin, check out We Use Coins and Bitcoin.org. You can also explore the Bitcoin Wiki:
Sorted roughly by decreasing popularity.
Non-Bitcoin communities
Bitcoin Forum
Bitcoin Stack Exchange
Bitcoin Magazine
Bitcoin Core is the backbone of the Bitcoin network. Almost all Bitcoin wallets rely on Bitcoin Core in one way or another. If you have a fairly powerful computer that is almost always online, you can help the network by running Bitcoin Core. You can also use Bitcoin Core as a very secure Bitcoin wallet.
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/r/Bitcoin
I came across this guy's videos and I have seen all of them. He hasn't been on YouTube too long but the kid has definitely done his homework. He has so many good tips for helping people understand the importance of owning this beautiful rare gem we all love.
Just curious what everyone's opinion on how business' will be evaluated when adding bitcoin to their balance sheet.
Especially curious in regards to small business evaluations.
Hey,
I've been trying to do some research on multisigs, and I feel like I'm ready to take the next step. I am convinced that multisig is the way to go with BTC self custody, but there's a few questions that still bother me:
1: Do I really need 24 word seeds with multisig? Like isn't 2 of 3 with all seeds being 12 words strong enough for at least few generations into the future against brute force attacks?
2: Do I really need something like Blockstream Jade or Coldcard? Like can't I just generate all 3 seeds on an off-line electrum wallet on a PC with bluetooth & internet disabled on BIOS, while using a TailsOS on USB?
The biggest annoyance for me is the 12 vs 24 word. Everyone says 12 is enough, but some say 24 is even better. But does 24 words really matter in a multisig setup?
Hey all,
So with 100K coming around the corner and a likely rally into the new year, I was wondering if we could have a discussion about supply and demand.
It seems that Bitcoin's price increase is largely determined by adoption and people investing to keep the volume high enough to reach a break out. With governments coming into the Bitcoin sphere, it seems that the volatility of Bitcoin could come down to governments selling off a significant portion of their Bitcoin all at once. If they hold the mentality that Bitcoin is a store of value, it seems that the support levels for Bitcoin may continue higher. I guess what I am trying to understand is, how is Bitcoin's price effected by other variables outside of increased volume? with prices getting higher, Bitcoin sentiment may reflect a price that is too expensive to enter, and with Bitcoin likely moving into diminishing returns over the years, how could expense be a factor that reduce ones willingness to enter the market? With DCA strategies it is likely that the market will continue to go higher over the long term, however larger moves seem to be in the hands of larger bodies who are investing a significant amount into the market at once. Sometimes I find it hard to see beyond the view of fresh buyers are ultimately pushing the returns of earlier ones.
I understand this is a trading mentality which misses the point of Bitcoin's ethos, however what is to say that the recent adoption is pushing Bitcoin away from something that is effected by government hands when they're leveraging such huge positions which could be sold at any point?
You only pay cgt after earning £3k profit a year. If I withdrew £100k based on a £10 invest I would be paying a lot of cgt based on £90k profit
BTC discovered year 2009.
21,000,000 coins max. Period.
GOLD discovered year XXXX?
SEE PHOTO for number. You guess the weight!
Latest finds in 3 years just alone....
China https://www.yahoo.com/news/1-000-tons-gold-deposit-123418161.html
Ghana https://ghanafact.com/2021/03/fact-check-a-mountain-of-gold-discovered-in-congo/
Asteroid Comet X mined?
Next? Market Cap?
You can't print it. You can't make more. You can't hack it. You can trade, sell, oe buy it.
Generational wealth will be passed on in sats. Pay attention to the world. Stop being scared and roll with the changes.
Has anyone used River or does everyone stick with Coinbase?
I got 3 card set, had trouble setting and scanning the card, some times work, then don't, security is not good enough, because if you lost all cards, then you loose all your crypto, anything with a chip, can fail or be hacked, it's just a matter of time, the Tangem should use chip as well as the seed, , and option to restore wallet with the seed, but it doesn't. And I find fees are not cheapest .
Have been thinking a by deeper about what Bitcoin is recently and I’ve come to the conclusion that adopting Bitcoin is like a societal agreement, as opposed to a government decree, to use something which has no non-monetary value as a medium of exchange. Would love to hear people’s critiques and improvements on this idea.
Just for the sake of argument, it’s not a scam. Somehow you’re able to determine it was just a sheer mistake…what do u do?
Seems McCormack and Breedlove have lost their minds or thereabouts, I’m looking for maybe some views that push back a bit or have comprehensive new takes in bitcoin going forward.
Any recommendations?
So,I saw the post where the person said they wanted to convert their btc to fait when it goes up and then buy back in when it dips. The person got some flack about it. Help me understand the why nots of it. Keep in mind,I'm not talkin dips down to 50k. More like 10% dips and such. Be nice...im sensitive..lol. I guess the core of the question is,couldn't ya do like a "day trading" or " swing trading" type thing with your btc?
Anyone using one of these? So far my experience has been very negative. My fingerprint on my first device stopped working. They sent me a new device and it is like a week waiting period to move your bitcoin. I validated my fingerprint on new device and then a week later to confirm the new device and to move bitcoin to new address I tried to unlock and I cannot just like the other device. I have 2 devices now and neither one I can unlock with my fingerprint.
Now waiting again to hear back for a resolution. It is really frustrating and self custody kind of sucks!
Pardon my ignorance, but I’m still learning…
It said 1-3 weeks when I placed the order, it is now 3 weeks and they said another week when I messaged them today. (they did at least talk to me today). Wondering if I should start thinking about issuing a chargeback on my order if it's vaporware.
Is the Bitcoin community mostly split between people who are all in and those who are all out? I’m taking a more conservative route, with about fifteen percent of my portfolio in Bitcoin. I guess I’m coming from the mindset of traditional, balanced investing—diversifying, staying cautious, and thinking long-term—but still seeing the potential in Bitcoin.
I think it’s a good store of value, especially as a hedge against inflation. But with the price near one hundred thousand, it feels like a lot of the current value is driven by speculation. Sure, there’s adoption with things like the Lightning Network and El Salvador using it as legal tender, but it’s nowhere near the scale I expected by now. It still feels like Bitcoin isn’t quite living up to its potential in terms of real-world use.
Also, how long until governments get on board? I imagine it could take decades, especially with current leaders who don’t seem to trust it. So, for now, I’m comfortable with my modest position, while keeping an eye on where it all goes.
One thing I keep wondering is whether the logic we use for traditional investments, like balancing risk and growth, should still apply to Bitcoin. It’s clearly a new kind of asset, but doesn’t some of that cautious investing logic still make sense, even in this new space?
Anyone else out there taking a similar cautious but optimistic approach? Or am I overthinking it? Curious to hear how others are seeing Bitcoin’s role in a portfolio.
Did he have it on an exchange?
Say you had a significant amount of Bitcoin, and you knew you were going to jail and that the government would seize it from you. How would you go about protecting it from being stolen?
Would it suffice to "move it" to a Trezor for example, memorize the seedphrase, then destroy the Trezor? Would there be any way for the government to take your Bitcoin if you followed the steps above?
Just curious, thanks.
Just curious, what is the most secure way to hold my bitcoin? I've heard some awful stories of people losing some or all of their stack.
I put some BTC on a Wallet way back in 2013 and I'm ready to crack this sucka open (there's not even a lot on it but I want to take the little bit that's on there and put it into another coin) and I cannot find ANY app where I can just type in the Private Key and import the wallet. Even with the apps that DO let me do it, say that I have to first format it into WIF format. Upon researching Google there's no apps that let you do this and it's needlessly complicated to do it.
As someone who was messing around with Bitcoin in 2013 did I miss something? Was there an update that nullifies old private addresses or something? It used to be as simple as clicking Import Wallet and being good to go, now there's a million pointless hoops to jump through that may or may not even work.
Am I just stupid? What am I missing here?
Edit: I *AM* just stupid! Here's a tip to anyone from the future who comes across this thread. Did you use bitaddress.org to generate your key? If so, your private key was salted with a "password". You need to decrypt the private key with whatever password you used to unlock the *real* Private Key..
Hey Yall, So I sent my BTC to my keystone 3 pro and connected software wallet Bluewallet and am able to view watch only. I was able to make some progress but am currently stuck. I followed instructions from the Keystone page but now am stuck on trying to figure out after the partially signed bitcoin transaction (PSBT) . I tried scanning the signature with they Keystone but it gives me a note saying " Incongruent transaction." Can someone give me some feedback on what I can do?
Serious question - I think that the current (recent) rise of Bitcoin is primarily because of the new administration. After 4 years, if the govt. changes to a non-bitcoin friendly administration, will it fall and return to what it was?
The one thing that makes me nervous about Xapo is I'm not clear about how they make enough money for their business to stay profitable long term.
From what I can gather they make money from:
- Annual fees
- Spread on Bitcoin trades
- Transaction/wire fees
- Interest on customer deposits
Most banks make the bulk of their money from (fractional reserve) lending, from what I can see Xapo doesn't partake in any lending business.
Considering they give cashback on purchases, interest in USD deposits, interest on BTC deposits, do they really make enough for a sustainable business long term?
Recently, I have come across many people discussing this issue. Most of the people who have been deceived are mainly because they do not understand investment knowledge. Scammers use people's blind spots to commit fraud. I hope that people who have really experienced it, whether successful or unsuccessful, can share their experiences to help everyone understand.
If i connect my cold wallet to sparrow using a cable and import the keystore, is my seed phrase still safe? The seed phrase is still only on my hardware device and it's not on my computer even if sparrow creates a wallet file right?
Thanks for any help!
I will not answer any dms.