German-born programmer Stefan Thomas told the Times he forgot the password to IronKey, an secure flash drive has access to 7,002 Bitcoin - $220 million worth. IronKey gives users 10 guesses for their passwords before seizing its contents.
"I would just lay in bed and think about it," Thomas told the New York Times Nathaniel Popper. "Then I would go to the computer with some new strategy, and it wouldn't work, and I would be desperate again." quite surprised by this news because his Bitcoin trapped in his hardware wallet is very much. Don't underestimate your private key and password, if you haven't prepared the best place (easy to remember and reach) to store your private key and password then do it right now..
https://markets.businessinsider.com/currencies/news/programmer-locked-out-220-million-in-bitcoin-forgotten-password-2021-1-1029961378Serious situation. 10 attempts and from the billionaire a person becomes an ordinary guy) This story proves that memory may fail greatly, and it is better to keep some written or typed copy of keys in case someone forgot them. I would not like to face the situation of such kind. Losing such an amount ... Not everyone has strongest psyche. |
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I have decided I want to make a Bitcoin blog but I need ideas. The site is already live but I want ideas, the blog will mainly contain price analysis, news, tutorials and reviews. I want to talk about how Bitcoin works and it’s advantages. If you have any idea let me know! (edit) Here is the URL for my blog: https://bitcoinrepublic.blogspot.com/p/home.htmlWhy only Bitcoin? There are lots of topic nowadays - news of the cryptocurrency market, tendencies, may be personal experiences, even instructions how to crrate wallet or may be testing new wallets their advantages and disadvantages, exchanges and their rating and nuances of using, new projects, DeFi direction, Blockchain's implementation into real working business or services and so on. And your blog will got a wider auditory. |
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Cryptocurrency industry is an industry like other industries that need caution from the players. It was yesterday, one of the members of a WhatsApp group i belong made series of comment, and in all his posts he said Bitcoin is a ponzi Schem, people doing btc are thieves.
Well, as a crypto expert (to an extent) i knew what has happened to him and i needed to educate him on what he should know about bitcon. I asked him what was his basis for this kind of derogatory comments, he said i should never mind, i later gathered that he gave his money to another person to invest in crypto and the person screwed him.
I tried to explain and educate him with the following;
1. How to invest in bitcoin.
2. the importance of trading or investing yourself.
3. why Holding and Timing are very important.
4. why it is scary to entrust your cash into someone.
5. Why knowledge is one of the most important tool you need in this industry.
He later admitted that he made a mistake.
If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?
Not always people are ready to understand things in deep. One of my relatives still do not want to accept that Bitcoin is like an asset should be declared in our country and still is sure that it is one of the ponzi schemes. And I left my attempts to make him change his ooinion. I think it depends on the person. It is better to explain to those who is ready to understand and believe. |
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The BTC has made history today and broke its all time high record. It is currently trading around $ 20500 to 20600. BTC Dominance Index is around 65% which is very High. I personally think that it is the Right time to take entry in Good Alt coins ( Ranking from 2 to 20 on coinmarketcap). I believe that History of 2017 will be repeated soon. We will soon witness Huge rally in Alts. It should happen when BTC will stabilize around current levels and BTC dominance Index comes down to below 60%.
Nowadays it is a good time to buy altcoins, but it is better to choose the good ones. It may be perspective and interesting to search for new startups that can come to the market and make the boom there. I have not participated, I saw it very late, but there was not so long ago such project the Graph - from the first day he got the good strong position in the top 100 on the coinmarketcap, lots of people who were lucky to participate in it got good results. It is like the one of the examples. There are interesting new projects nowadays. |
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I don't see any reason why ETH should die. It's basically too big to fail at this point. Even when there are coins that do everything better than ETH, Ethereum will still stick around.
Purely because it's widely accepted and well known.
Logically, if Ethereum dies, all tokens that are already dependent on the smart contract network will certainly experience the same thing. Of course it will never happen because of so much support from the community to the investors who are behind it all. And now that ethereum has made it to the price of $1200, who can stop ethereum? it's absolutely impossible. Agree that Ethereum has got already strong position and it is a great doubt that Ethereum may die. It developed and is developing all the time. And as for Polkadot it is a good project, because it stimulates new projects to develop via platform Polkastart, because tokens of new projects are created mostly on ERC20. That is why Polkadot cannot make Ethereum to be dead, but just on the contrary. |
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I would like to hear about the situation with bitcoin and taxes in your countries.
I think it would be interesting to hear different experiences and compare results across countries.
Of course, I understand that in some countries you can't declare bitcoin tax.
I'm not interested in these countries but the ones where it is possible to declare and pay bitcoin tax.
I will start first.
In Croatia, several years ago we received clear instructions from the tax office on how to file a bitcoin tax.
In short, we must lead FIFO and if we can prove that we held btc funds more than 2 years, than we don't need to pay tax (long term investment).
If we have kept btc funds for less than 2 years, we pay 12 % tax plus surtax.
Can you share situation in your country?
In Ukraine not so long ago yhe draft law has been adopted about the cryptocurrency and regulations in the direction of taxes and so on. In this draft bill, a virtual asset is defined as a collection of data in electronic form, which has a value and exists in the system of circulation of virtual assets. And people must declare their crypto assets in their every year declarations. But there are lots of aspects that are not fully finalized. |
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Unfortunate. Hopefully whoever you've spent the medical bills on is totally fine now.
With that said, chin up. Do you think the current price of $31,000 is the price peak of bitcoin? If not and if you want to get your stack back(at least a percentage of it), go do something about it. Get a job, start a business, learn a new skill that you can use to monetize, etc. It's easier said than done for sure, but you ain't going to move forward by just being sad about it, only actually doing something about it will.
I wish you the best of luck moving forward.
Thanks they were my own. Working has always been sporadic for me because of my autoimmune disease. It is a pity that your disease prevents your normal life, but in my opinion it is not the final verdict for you, at least in case you have a strong desire to earn something. Because somehow you have got Bitcoins in your past life. Away your depression. You are not the onliest in the world who spent or lost Bitcoins in previous years. But nowadays you may do something in order to get some profit in future again. There are lots of online jobs, and online courses to get some skills. The whole world because of the pandemic situation widely uses online jobs, online education and online life. Believe in yourself and get your Bitcoins again! Do not give up! |
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This is a great idea. But I miss this opportunity. So now I am wondering where Bitcoin will go in the future. Correcting all the previous mistakes and now I have a plan for Bitcoin. Now every month I buy a few dollars worth of bitcoin. Now if I buy $ 100 worth of Bitcoin a month, how many dollars will I have after five years? Now that's how I think. Hopefully, I will get good results this time by learning from past mistakes.
Yes, you are quite right, lots of people made mistakes of such kind, especially nowadays when they see the price of Bitcoin now. But they would not regret at all in case the BTC's price was like in 2019, for example. It is not so easy to predict the future situation on the market and everyone should understand this and remember that the today's situation may be just quite another in some months or a year. And it may change like in positive way, so it may change in the decreasing as well. But it may also bring the profit in case the price will be increasing. |
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Let the New Year bring healthy and wealthy smile on everyone. Everyone started the year with the same expectation, but things went away from the expectation due to the pandemic. Somehow it was a happy year for all the Bitcoiners. Now once again we're starting a New Year with hope and dreams. Let this year be a blessed one as the past year in terms of the bitcoin growth.
Happy New Year to everyone - to those who believe in Bitcoin and its great future and to those who still hesitate. Last year was full of different surprises, sometimes sad, sometimes very pleasant. Hope the 2021 will be more predictable and will bring not so many unexpected unpleasant things, it will be even better than previous for bitcoiners and wish everyone to live this year easily with lots of happiness and profit!) |
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In my opinion it was one of the most wise decisions, because they will get profit in two directions, while losing nothing. Because they have all components for this - facilities, the cheap electricity, and green energy, and will get Bitcoins finally. It is a great step that may bring them lots of profit and lots of benefits. While others are hesitating they have caught their opportunities and just decided to use them. |
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A lot of people were talking about Polkadot and it's future. Most of the people were pointing it as the next ETH. I personally don't know much about this project. To my known, it's a copy project of Ethereum. I have little to zero knowledge on altcoin TBH.
Does it worth have some investment in this project? I was checking it on Binance and found there was a 200k buy wall; haven't checked in the last hour though. What do you think? People are moving their fund from BTC to alt and DOT can be one of the best choice?
I would not say that it is a copy project of ETH. They have differences. Yes, one of creators of Polkadot if I am not mistaken was relevant to the process of Ethereum's creation. And Polkadot has the goal to develop different projects on their Blockchain, like the Ethereum does, but Polkadot is more fir DeFi projects, that become more and more popular and demanded nowadays. What about investing it should be only your decision, but what I can admit that different projects connected with Polkadot showed good results and are promising. So it may be very perspective directon. |
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I really like being a bounty hunter, even though sometimes I help to promote projects that in the end don't pay off to me. but I kept on going on and on to keep up with projects that would eventually bring me income.
this is a bit of my experience as a bounty hunter.
I also want to know the experience you have...Thank yOU Guys
I have tried in 2017 to be bounty hunter and still do not leave such an opportunity to participate in interesting projects. In 2017 it was a real boom on enormous bounty campaigns. Of course I was not too much experienced and also faced scam projects, but after some years of participating I have became more selectivity and do not rush into everything I see, but participate in projects that has a good idea, working product, strong really working team and so on. I like promoting good projects or perspective ones. Of course it is pleasant to get rewards for this. But mostly I like the thought that I can help somehow good teams and good ideas to develop. |
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Your story is a very cautionary. And it is a good example of some key things in finance, trading and cryptocurrency - learn in deep by your own the direction you are going to work in, do not trust another people the future of your assets and profit, and be ready that the technical analysis does not always works in predictions for crypto trading. Everyone should make decisions by his own, it will be the best choice.
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What do you think guys is he alive? In this case he have steel nerves to not spend his coins now
I think the creator of Bitcoin, in case he is alive, or them are alive, does not nervous at all. It may be some strategy not to touch all those assets. Nevertheless only creator knows this exactly) but it is a true fact that person who has got Bitcoins is a really rich person. And it is our nowadays reality. In 2007 or 2008 it was something unimaginable. Interesting what position in the list of the reachest people in the World will be in 5 or 10 years. |
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Only good memory can help you in this case. But it is a great risk to forget some symbol or mix them. But in case paper variant can not be hidden very good, so only learning seeds, it is the only variant. Or hiding it on the open place - may be to engrave inside of the band or ring, or on the bracelet without some or the one last symbol from seed that you will remember.
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As Bitcoin bullrun continues there are some differences between 2017 and today.
1. Whales bitcoin addresses keep growing and balances are not shrinking that means more holders, in 2017 there were more whales sellers.
2. Much more institutional investors are flowing into bitcoin.
3. There was a dominance of Asian investors and money in 2017 and now with PayPal, CME, Square more money is coming from America.
4. As TA guys may notice price action of Bitcoin rally 2020 looks more technically prdeictable than in 2017.
What differences did you notice?
In my opinion PayPal have not made a great impact on Bitcoin and its price in 2020, because there are too many nuances there, that look strange even in some way. In 2017 when it was rapid increase there were also many holders and their amount were very high, of course after decrease closer to 2018 the amount of sellers became higher. And I doubt that nowadays technically it is easily to predict the price of BTC than in 2017. |
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It depends in my opinion not very much in what country person lives, but on his or her demands or expectations from life. On his goals. Someone needs Bitcoins for making level of life higher - for buying flat, or just for food, another person wants to increase his profit or make own business. For me personally it would be great to have got 5 -7 Bitcoins)
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Many believe, but many are also skeptical of bitcoin.
From the very beginning of bitcoin until the last 2017 when it reached the first ATH, many people believed but after 2017, the doubts in other people’s hearts are rising. There are many negatives news and accusation you will hear and read about bitcoin. Many say this is just a scam. Many also predicted that it would not rise again but some still believed that bitcoin would rise.
Because bitcoin suddenly collapsed after 2017 ATH, many people sold their bitcoin even in losing out of fear.
Now, bitcoin proved how valuable it is. Bitcoin has risen unexpectedly and is still rising today and we do not know how far or how long it will stay on top.
Blessed are those who believe in bitcoin and are confident of waiting for its new development that will pave the way for more being more valuable. But while some are now enjoying the fruits of their patience and investing in bitcoin, others are deeply regretted because they did not save bitcoin when it was still at a low price.
Honestly, I am one of those who regret that I did not buy and hold when the price was still low, also due to lack of adequate investment. So next time I will not hesitate to buy and hold it. I just hope I have enough money to buy when its value goes down again.
What has bitcoin done to you? Is it Happiness or Regret?
Personally for me Bitcoin is neither happines and nor regret. Bitcoin for me is a good experience, opportunities, logic thinking, deep analysis, cold mind and silent heart. Experience - after 2017, I have realized my mistakes and got good experience. Opportunities in my opinion is clear, it is the new way of thinking, new ways of developing and so on. Deep analysis with cold mind and silent heart - because positive or negative emotions may influence on my decisions, that in crypto may be fatal. So Bitcoin for me is a good transformation for everyone. And be happy or regret it depends individually. |
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Deception in the guise of Bitcoin is spreading. The most recent and most extensive case is through hacking of a number of famous celebrity Twitter accounts on Wednesday, July 15, 2020. Hackers offer a Bitcoin giveaway from those accounts. So, what are some ways to protect yourself from this mode of crime?
The perpetrators may launch social-based attacks (social engineering) against Twitter employees. Hackers access Twitter's internal systems and devices, and thus successfully tweet the Bitcoin giveaway.
For example the Kanye West account which was also hacked. The famous US musician is "tweeting" he will duplicate the Bitcoin sent to his Bitcoin address. With common logic, it is unlikely that anyone would give free money in the form of Bitcoin, without any veiled intentions.
No one will give you free money, not even Bill Gates. If it sounds too sweet, then it's certainly not true, especially in cyberspace.
Yes, there were lots of examples like these ones in 2017-2018, when there were so many airdrops, and ICOs, and in those amount of enormous offers the bounty hunters might be lost and only logic and common sense prevented lots of people from frauds of such kind. Very often such celebrities' accounts even are not hacked, but they just differ on one letter or symbol from the original account. I met some weeks ago 4 accounts of TrustWallet in Twitter like that, they were fake and gave some tokens via airdrop. The most important is to be very attentive and think twice before acting. |
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Coming from Africa, I never would have thought that they'll be making good use of Bitcoin, from a country that has not been fully developed unlike the rich countries, Africa on the other hand is making rapid growth, we all know that they have fully utilized mobile money, they do not only make use of Bitcoin but cryptocurrency itself, I honestly think that with the influence of today's generation citizens of Africa, the continent will continue to develop and probably overcome poverty in the future, I am not african but I definitely am happy that the influence of Bitcoin is making a good chance for them. What about in your country? is Bitcoin creating an influence and change as well in your own country? source/s: https://www.dw.com/en/africas-quiet-cryptocurrency-revolution/a-55199637 https://bitcoinmagazine.com/articles/how-the-use-of-bitcoin-in-africa-continued-to-grow-in-2020For lots of us Africa looks like a really technically not developed continent. So why there is so highly growing interest to Bitcoin and cryptocurrency? In my opinion - weaker local currencies that make it harder to get dollars, bureaucracy that complicates money transfers. New generation there is just trying alternative ways that may help to avoid complicated things. Of course it is interesting what is the percentage of the population uses Bitcoins, and what about that part that is without simple things like Internet, computers, gadgets and so on. But it is great that the country is developing in this direction. Some experts are sure that Africa may surprise us. |
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