I have heard that there are some kind of USB's that work like a physical wallet for cryptos.
Do you recommend it more than electronic wallets where your cryptos are exposed to hack attacks?
And what are the best physical wallets you have heard of?
Both Trezor and Ledger Nano S are good hardware wallets. There are several kind of hardware wallets on the market, but these two are nearly the best. The most important thing you need to consider when you choose your wallet is that it's really necessary for the hardware wallet to have a screen (to be able to double check the address you're sending to, because if your computer is infected with the clipboard virus, that changes the recipient's address to the hacker's address) and to have physical buttons to interact with the hardware wallet (the New Trezor will have touchscreen, but that's not crucial at all). |
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Although it's good that the use of bitcoin is becoming more widespread, I don't know how practical this is. I don't know how much the average traffic fine costs in South Africa, but considering the high transaction fees of bitcoin, it may not make sense to use bitcoin to pay them. But of course it's good in terms of exposure, like I said.
Yes, that's the same thing that I see here. A government agency accepting bitcoin is a good news for the community as it increases the adaptability as well as the visibility of bitcoin in the socio-economic perspective, but citing the transaction fees and the time for confirmation make this decision impractical. While many people consider bitcoin as an investment asset, I doubt any people will be actually using bitcoin for making the payment for penalty. They would invest the money instead. Just imagine: You pay the fine with bitcoin. You have 'lost' those bitcoins. Let's say you don't buy it back in a short period of time. Some months later, you notice that bitcoin price has multiplied by 1,5 (or 2x). It's not the best purpose for spending bitcoins for traffic fines. If you buy a house or something that's really an investment, it is much more practical spending. |
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Im looking to hold crypto for the long term... I don't want to touch or spend it.
Should I get a hardware wallet ?
Im looking at the Ledger Nano S, Is it SAFE ? What hardware wallets to you use ? Is it possible Ledger has access to our private keys ?
Getting a hardware wallet it is always a good idea if you can afford it, they do not have access to your money so you are fine, just make sure to understand all the features and limitations of a hardware wallet before you put any bitcoin in there since you could make a mistake and lose money. The hardware wallet is just a tool. Don't worry about it, it's just for to ease the handling of the coins (spending, receiving, without a need for handling private keys and adds a security layer if your PC is infected). That't not the hardware wallet you need to care the most. It's your seed, generated by your hardware wallet. If you protect your seed (write it down _manually_ with a paper and pen, laminate it, put it into a safe or hide it somewhere in different locations) you won't be in trouble if your hardware wallet gets lost, you drop it into your beer, etc... You can just buy another hardware wallet and you can restore all your coins onto that new wallet with your seed. If you lose your wallet and also your seed, you will be in a real trouble. You are safe as long as your seed is safe. If you lose your hardware wallet, no problem, it's PIN protected, so noone will be able to steal your coins (OK, some really qualified hackers maybe, but they will hack the NASA instead...  ) so the seed is the key, not the wallet itself. |
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Can anyone suggest where and how to buy bitcoin /ethereum from credit card or paypal in middle east countries.
This is bitcoin discussion, you can ask about ethereum in the Alts section. Credit card is accepted at some of the exchanges directly but you can't buy bitcoins with paypal, because sellers worried about disputes and claims, because Paypal always stands for the buyer's side in connection with crypto, so if the buyer receives the bitcoins after the payment and after starts a claim, paypal will refund the money and will charge the seller. In this case the seller won't have the bitcoins (because the transaction is irreversible) and also won't have the money, because of Paypal. |
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Thanks, What amount of $$ or amount of BTC would you consider buying one necessary ?
Do you use one ?
In connection with security, a rule of thumb: Spend maximum 10% of the value of the item you want to secure. This means if you want to protect your jewellery worth of $1,000 you can buy a safe for maximum of $100. This is an acceptable cost for security. In connection with hardware wallet: let's say that the price of the hardware wallet is also $100. This means if you want to buy bitcoin for at least $1.000 (now this is roughly 0.1 BTC) you can consider buying a hardware wallet. |
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First, you have to understand that every transaction has to be included in a block to be confirmed. Miners are the one's who do that and also they are the persons who take the fees you are paying because they are doing hard work to mine a block.
There are some wallets wich dont take fees for transferring bitcoin through the same wallet. One of them is Coinbase(remember that this is an exchanger,not a wallet) and you dont have to pay fees if you are transferring bitcoin to another Coinbase wallet.
Be careful of wallets that promise free fees for any bitcoin transactions. That is pretty much impossible,especially with the fees that bitcoin have these days. Maybe for a short time they afford to pay the fees for a few transactions but after that it could become a scam and stole your bitcoin.
Yes coinbase and Xapo or some other ONLINE WALLET PROVIDER can do "free fees" if you send to a person thats also registered there. But the main issue with these wallets is that they are online and most of them don't provide you with your private keys as they keep all bitcoins on several addresses and just change the number of your bitcoins in their database. They act like a bank in connection with this, if you transfer your coins from your wallet to another wallet (at the same wallet provider, e.g. XAPO) they don't really move your coins thru the blockchain but they just do some clearing between the two accounts. And because you don't have the private key, you can't influence this part of the transaction. If you want to have your coins handled by yourself, you have to use a wallet that's not an online one. You can start a transfer with relatively low fees but in that case the mempool has to be nearly empty and you can use transaction accelerator service, but none of them assure that your transaction will be confirmed in a short period of time. |
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As the USD price of Bitcoin increases, the rewards that popular Bitcoin faucets payout decreases accordingly. Sites that would pay 50-70 satoshi per claim last year are now paying between 15-20 satoshi per claim.
If the price of Bitcoin continues to climb to $50,000 USD, the value of 1 satoshi would conceivably be higher then these faucets could afford to pay out (per climb) compared to the ad income they generate.
Any thoughts on how will these faucets deal with payouts when 1 satoshi is worth too much?
I think some faucets change to another coin or maybe the user of the faucet has to claim 10 or more times to get 1 satoshi.   1 satoshi is the technical minimum limit of the bitcoin, but a faucet can say that 1 click worths 0,1 satoshi, and you can claim your earnings when you reach 1 satoshi, no problem and most of the people will understand easily. There's no need to switch to another coin, and people will be more happy with 0,1 satoshi per click instead of some alt because they only need to look for the BTC/USD price and don't need to calculate with the alt/BTC exhange rate as well. |
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Bigger fee always means faster time because the miners will want to mine the biggest fees first then work downwards. That is why some transactions get stuck or take sometimes weeks because people cheap out and then they wonder why there transaction doesn't go through. Also if you want speed a bitcoin fork is incoming last week of December called Lightning Bitcoin (LBTC), there biggest selling point is that they will be blazing fast I believe.
Is this the official Lightning Network or this is another alt like Bitcoin Gold and the others were? I'm really interested, because I have read a lot about Lightning Network and it looks promising, so I'm just curious when it will start (in the near future or later), because I have to read more details about it. |
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Thank you for the warning. These phishing attacks are spreading like a plague. Original MEW has currently the big red warning on top saying "DON'T GET PHISHED 🎣 1. BOOKMARK MYETHERWALLET.COM RIGHT NOW 2. INSTALL EAL or MetaMask." and this is probably the reason for it.
Also, there's a quick crash course about blockchain and cryptos when you open MEW. They warn the users about security in details and they also advice to use a hardware wallet because in that case you don't have to compromise your private key just let the hardware wallet do the signature part and you are safe. Using bookmarked pages of MEW and e.g. a Ledger Nano S or a Trezor will let you worry less about your hard earned coins |
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I dunno really, but if implemented it would set Bitcoin as the main arbiter in stone...90% + in dominance.? Maybe.?
Not gonna happen any time soon, Maybe never  They wanted to increase the block size by 250KB and when they tried to do it, Someone with a significant amount of hash power forked bitcoin, Developers now are cautious, They think if they try to implement LN, Everyone leave BTC and fork a new one. If fees stay small, miners will mine empty blocks, If you were transferring fiat with bitcoin network you could argue about high fees, For someone trying to transfer a million bucks $3 is nothing. Please check reddit: https://www.reddit.com/r/Bitcoin/comments/7h1v54/lightning_network_progress_72_out_of_75_tests_pass/If this is true, then you should think over your first sentence Also in another topic there was something about a Lightning Bitcoin fork end of December this year, but I'm not sure if it's another worthless alt or this is a fork needed for the LN to be implemented on Bitcoin. We'll see |
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could be an botnet spreading fud/fomo to try and jungle the market for day trading
I don't believe these are bots, and even if they are, I strongly believe we need to get such channels stopped (banned) from working because this will probably harm the prestige of bitcoin it has gained throughout its 8 years of success. More and more people join telegram daily through the forum itself with the need to gain more knowledge on how to trade bitcoins, and they end up getting these "fake" news from such channels. I really can't believe that just to gain more users and get more money through them by alluring them that they could make more with their so-called paid channel, these bastards will just do anything ridiculous and break all the levels of meanness.  If they are really bots and someone just starts and stops them (with a push of a button) then you have little chance to win in this situation. We need to have something like bittrex or one of the exchanges has announced that they will pay attention to these groups and take the necessary actions against them. People can be influenced easily yet, because this is like the first step of an educational process. When people face new things, at first they can easily fall for the unknown, because they don't have the necessary knowledge. When people are educated enough, they won't listen to these channels anymore. |
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thanks both for your answers, but i don't understand why this choice.
I understand that the hwwallet can't use the same seed on my "old" electrum wallet, but why don't create a two different seed if i import two different wallet?
i think it's more safe (from malware attack) have your coin splitted in two wallet
One hardware wallet = one seed As mentioned above, you just can't use more than one seed on a single device. Why do you stick to that old seed / two old seeds so much? (Have you got it tattoed on yourself? Just kidding, no offense ) If you buy two hardware wallets, you can transfer your coins easily to your device for a little cost. If you don't want it to be done in ten minutes but in a day, you can use low fees. When you have a seed on a computer that is connected to the internet, you can't be 100% sure that someone has not seen it already... |
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I think there's a huge weakness of cyber currencies or what do we think?
No matter how secured the site is and no matter who designed or developed the security of the site or wallet there is no such thing as 100% secured. Hackers will try to breach any type of wall placed by the person in charge of the site's security. Sad part is you cant even trust the owners of the site themselves because they might be the one who really stole your coins and not the hackers. If possible, stay away from those online wallets and never use a public computer to make any transaction, specially sending Bitcoins to another BTC address. It's really important to make a difference. You don't want to use the same security for just a few cents or for your life savings. For a few $ worth of bitcoin, there's no need to create a nuclear-proof shelter to hide it in. So if you don't mind losing them, you can use web wallets for a small amount of coins. You can do this, because on the other side, using a web wallet gives you more comfont than using a paper wallet. For your life savings in crypto, you need to make all the security precautions. Just search the forum, there are a lot of useful advices about safe storage methods. There's no 100% security, ever, but 99% is usually enough. |
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There's a rule in the crypto world (and in gambling, in the stock exchange investment, etc. everywhere you can invest) : Only invest the amount you can afford to lose. So if you only invest that amount, you won't cry if the price will drop by 50% for example. So if you don't mind losing that money you don't really need, you will not afraid of invest in crypto. Of course it doesn't substitute the rational thinking, but that is needed everywhere in the real life as well.
Everyone calculates the risk he/she is willing to take, so if someone has invested in crypto, the risk is acceptable for him/her.
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This is good for the next push to higher price ranges. Bitcoin should take a rest and let altcoins prosper for a while before getting to climbing again.
Thinking of Bitcoin as a person seems odd to me. Do you really believe what you wrote? "Bitcoin should ..." implies that Bitcoin is a person that can make ethical, moral, or rational decisions. "... and take a rest ..." implies that Bitcoin is a person that exerts himself and gets tired. "... and let altcoins prosper for a while ..." implies that Bitcoin is a person that can exhibit generosity. "... before getting to climbing again" implies that Bitcoin is a person that does physical activity that is measured by the price. I think this kind of thinking is why so many people are such bad investors, and why so many people believe that TA actually works. TA works, but not in the direct way. There are people who do something called TA and they post their ideas on blogs. They advice (predict) things about the price and the rest of the people belive it, so they start to think accordingly and start to see those signs on the charts too. And because there are several kind of TAs out there, they predict different things, so everyone can choose his/her preferred TA and follow the advices. Some of them draws elliot waves, another uses moving averages, indicators, etc... And they end up predicting different prices but usually they agree on the main direction, so this is how they move the market into a direction. A lot of people read TAs and they act accordingly, this could influence the price indirectly and this legitimates the TAs. |
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All major exchanges coinbase, bitstamp, kraken down all at same time! BITCOIN price is going down as well... what is really going on?
Any government intervention or so???
Kraken is somewhat OK, from every 3 clicks it accepts 1 so not as bad as it would be down... There is / was a correction (according to Kraken the minimum of the price was $9,000.20 and now it's $9,888 again so the price is searching for it's true direction... As I'm not a trader I just can't predict anything about the direction, but you can be sure that this volatility is not because of goverments, so just enjoy the ride |
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I've an other question:
is it possibile to have to differenent wallet/seed with ledger or trezor
For example, i have 2 wallet on electrum. Can i import them separately on my hw wallet in a way that if i have to recover it on electrum i can restore 2 wallet instead of one?
Thanks in advance!
Hang on for a second (clarification needed) Your question is (if I understand it right): You want to use two wallets for a coin (e.g. for bitcoin) on one device, or two accounts in one wallet? Trezor supports one seed per device, that creates wallets for each supported coin (bitcoin, ethereum, dash, etc..) One wallet for a coin. In the wallet you can set up maximum 10 accounts (10 bitcoin accounts, 10 dash accounts, etc. ethereum is a bit different). Each account can contain several addresses. But this is for one seed. If your have different seeds, you can still use one trezor, but you need to set up a passphrase, but that's another story. You can check it on trezor's site: https://blog.trezor.io/wallet-accounts-and-addresses-bdfa6b66b037 |
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Na mit gyűjtünk itt és miért jó ez nekünk? felrázzuk az életet itt a bitcointalkon és activity pontot gyűjtünk aztán még az sem kizárt hogy kapunk saját nyelvű topicot Hát rajta hátha lesz belőle valami lenne belőle valami de itt 2-3 an sokra nem megyünk kellene egy 20 aktív user és akkor gatyába lehetne rázni a bitcointalk magyar részét azt kéne megtudni, hány hozzászólás kell hogy saját topik részünk legyen |
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will bitcoins hold their 10k valuve in december? do you think it will increase od decrease?
$10,000 per Bitcoin might get a lot of people to start purchasing it. The price could go up drastically after the price gets to that level. when institutional investors come to crypto the price will go to real moon Or not. Just remember the JP Morgan story. They wanted to buy low, so they have moved the market a bit (and they had luck because of the Chinese temporary ban was announced that time also). If institutional investors want to buy in at a cheaper price, they can influence the price for that period of time they start to invest and buy into bitcoin. After it will surely start to rise again but it's another possible scenario. |
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If it breaches the 10K level, then 12K will be attained in a very short duration. There seems to be a lot of resistance at $9,900 - $9,999 levels. Those who want to dump their coins have placed sell orders at that range. But after $10,000 there are not many sell orders.
It's understandable that at $10,000 there are just a few sell orders. It's like psychology a bit. If you want to sell at $10,000 you can be sure that because this is a kind of psychological resistance, a lot of people will also want to sell at $10,000 without a proper reason, just because it's a fancy number... So what to do if you don't want to left behind with your sell order at $10,000 if the price just reach $9,999 and because of the others who set their limit to $9,999 (because $1 doesn't matter really) and price start to decrease for a short correction back to e.g.$8,000? Easy, just set your order to $9,9998 and you'll be the first to sell near $10,000. But some other guys see your order in the order book, and they start to lower their ask price to $9,997 or $9,990 after $9,9980 etc... So if there's a tough resistance, people will set their sell orders below that resistance just to be on the safe side. |
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