I think most people are into online wallets because it's very easy to use, especially if you just got into bitcoin and are still learning. Desktop wallets take up a lot of space which some people don't have.
I agree, people use the online wallets because it is easier especially when first starting with Bitcoin. I am working on other more technical options now that I am more comfortable with it. |
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This is why I recommend getting something like an Intel NUC dedicated to bitcoin.
Put Linux on it, and do not run any browser plugins or extensions, and do not use Chrome for Linux (it is closed source) on it.
Such a PC should only be used for your bitcoin activity, not general browsing. Not even browsing this forum. Just use it for bitcoin.
You can run a wallet on your normal PC just like you can keep some fiat cash in your leather wallet, but keep the value low.
btw flash (even in Chrome) is dangerous because flash allows programs loaded from web pages to manipulate the clipboard. Get rid of flash even on computers that you don't use with bitcoin.
Good information here. I have been trying to do all bitcoin activity on only ONE computer in the house, with no internet browsing. |
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This latest drop was only a bump in the road. These are growing pains, nothing else. Yes the price is going back up and is healthy where it is at. To put it into perspective google the price back in July and August and we are way up from that.
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No, why would he do that? What is with all the negativity?
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Declaring BTC dead or asking the question if it is dead is just trolling. Those that believe in the technology would not say this, only people driven by the monetary gain possibilities and those with no coins at all.
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Paypal knows that it needs to address Bitcoin. Having him on the board is IMO acknowledging Bitcoin which most large companies have refrained from doing. This is a positive sign that Bitcoin is definitely a contender in online payments and perhaps more.
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Telling R3 puppet Mike Hearn to say how Bitcoin is dead in none other than the New York Times, and not only this, but he and his boss and anyone holding BTC at R3, sold their coins before this announcement was done, guaranteeing that they sell high before the news create a dump and uninformed idiots start panic selling.
Great post. This part is very interesting and I didn't think about the fact that they probably sold well before the announcement and the price was at a healthy 460ish. If this is true it is lame. Not to be unexpected though, Bitcoin is basically untouchable and they know it. |
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They've just released another development update on January 12: https://blog.openbazaar.org/It's looking pretty good already, can't wait till it releases  Thanks for posting. This makes it look like nothing will happen until after the February conference. I am beyond excited about this and the website looks great. |
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\ Hope newbies who came late in this technology knows the whole history how they kill bitcoin so many times in the past and how it always rises from the ashes,bitcoin will eventually recover and will just add this event to it's obituaries history this is how strong and how well supported bitcoin is so long live bitcoin and it's community Yes, there should almost be a sticky post with a little warning to newbies that it can be unpredictable, volatile, frustrating, scary, and down right fun. I wish I would have known these things when I was new, but I quickly googled. When I first bought there was a dramatic drop afterward and I certainly questioned everything. But after that drop the price went up 60%. I almost sold everything. Thankfully I googled a lot and found Reddit and this forum to calm my fears. |
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What would it mean if it was against a privately or publicly held company or entity? Bitcoin being decentralized surely prevents lawsuits against any one individual but what it it was not? The guy's comments certainly contributed to the price going down. Many people surely lost A LOT of money which is not cool.
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Yes it will as it always does. Then it may go down again and scare the heck out of people again. It will be interesting to see how these latest obstacles play out.
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I see the price has dropped again 10 usd. This will keep happening everything a new nation wakes up until it is below 200. It's a mass sell off based on the desperate selling and price reduction caused by the nation that has just gone to sleep..
Not a good day at all
Price drops have happened before and will happen again. I can't remember what great investor said it but...with investments you should never look back. You sold and that is what you felt was right so the price should not matter. To me, continuing to talk about drops just contributes to rash behaviors  |
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I was not aware of this. Do you know what time it went down and for how long? did they announce anything about this?
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Very cool! You put some work into this and it is perfect. Most entertaining Bitcoin video yet.
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I am hodling. When it comes down to it, no one really knows what to do. Do what is best for you |
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It is times like these that remind one to make sure to inform family and friends that it is highly volatile and adventurous, not for the weak of heart . . . of course this follows all of the great things you say about Bitcoin.
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Moving forward would be good at this time. Starting to see that this may be a good thing - this is calling attention to issues that can be worked out and it sounds like there is more dialogue as we speak. It wasn't a great way to go out but it may help in the end.
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I have never had any bitcoins stolen from me. I have had USD stolen from me from PayPal.
Crypto works.
With respect to online wallets - the advice has ALWAYS been never keep very much in them.
I currently only use coinbase. It is possible my bitcoins there will be stolen. But I have this rule :
A) Never have more than 20% of my liquid bitcoins in coinbase
B) Never have more than $650 USD in coinbase
I define "liquid" bitcoins as bitcoins that are not in a cold address (paper wallet)
With that philosophy, I will never lose more than $650 and honestly rarely even that much is at risk, right now I have less than $10 USD there.
If you keep the bulk of your bitcoins that you are not planning to spend in properly generated cold addresses, they won't be stolen.
For bitcoins not in a cold address, if you keep the bulk of them in a full node wallet on an inexpensive PC that is dedicated to bitcoin and not used for other things (such as browsing this forum) - they won't be stolen. I personally use the standard bitcoin-qt client for that running in CentOS 7 but the actual distro is not terribly important. Point is Linux with no flash / java and only using the browser for business (pay bills in bitcoin, transfer purchased bitcoin out of coinbase to a generated address) then the risk of malware is extremely low.
Good idea to run unbound on the bitcoin machine but only listening on localhost. That helps protects it from DNS spoofing, but that's an advanced topic.
An Intel NUC is good for this. Cheap, small, low power. Samsung 250GB M.2 SSD gives plenty of room for the blockchain to grow. 8 GB (2x4) is enough. Use 64 bit distro.
Running full node client with bitcoin-qt also helps protect the bitcoin network. More people should. And use bitcoin-qt (you can run Armory to interface with the blockchain if you want)
good information, some of this is new to me and advanced. I will start googling. I have a spare laptop that I could dedicate to this. |
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And so the coin wars begin . . . get ready for a ride in 2016
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boy is this a busy night for Bitcoin - Cryptsy officially announcing some crazy Trojan stuff and Hearn being so passionate about Bitcoin that he sold his coins   can you provide any transaction ids to prove he sold his coin? yes, with a rant like that he should have provided proof he sold. |
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