Okay thanks a lot for all your input. I already have bought a ledger nano and will start using it.
Writing the seed phrase on multiple different pieces of paper seems a good idea. If one gets stolen the thief still cannot access my coins. However, the downside is that if I lose 1 of the 4 parts of my phrase seed, I no longer have the complete phrase and it basically means I have lost the whole phrase.
Maybe, to tackle that problem the best solution would be write the phrase on 2 pieces of paper....divide them up into 4 parts each so I have 8 pieces of paper...1A,1B,1C,1D,2A,2B,2C and 2D and then store them all in separate locations. Would that be the best solution?
Or you could just write down the seed phrase in reverse or any order that you can easily remember and then store it in different safe locations. Even if someone accidentally discovers your seed phrase, they cannot use it because the order is mixed up. |
|
|
|
As title said "Chinese citizens could safely hold Bitcoin", just read a article from Ethereumworldnews, you might read that article for more details "China: Hodling Bitcoin (BTC) and P2P OTC Trading is Legal". However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price. What you think about it? yes, it might have a positive impact on the price of bitcoin because most of the bitcoin holders are in China. as we saw in the 2017 defense when the Chinese government banned the ICO and it was very bad for the price of bitcoin. and now many things are beneficial if the country uses the blockchain as a tool for present and future transactions. hopefully this will be a better start for crypto investors.  If only P2P OTC trading is legal, then this will not have any effect on the price of bitcoin. The only give away we can get from here is that this is a positive news coming from China that concerns bitcoin. |
|
|
|
The political system in India is different. The effective head of the state is the Prime Minister, who is a part of the ruling party. The president has only nominal powers and he is also a member of the NDA (ruling alliance whose members proposed the measure to ban Bitcoin). The proposed bill in all probability will be passed in both the houses of the parliament, and then signed by the president. It may face legal challenges in the top most court, but I am not very optimistic about this scenario. The mindset of the supreme court judges in India is not very different from that of the lawmakers.
Does this mean that even though this is just a proposal, it is most likely will be approved and become a law in India? Do we expect another dump because of this law? |
|
|
|
|
Adoption of cryptocurrency is going strong. There is no laws or regulations that are being pushed but using bitcoin and other crypto is being allowed.
|
|
|
|
|
I wish the person who solved the puzzle will come forward and share how he solved it. There are lots of bitcoin puzzle lately, maybe the trick he used can be used on other bitcoin puzzles as well.
|
|
|
|
Starbucks has already received payments using bitcoin, this shows that bitcoin will someday be used as an international payment system because it will be very easy and efficient if we use bitcoin as a payment tool when we transact with someone abroad who will consume lots of time and transaction costs.
Yes, Starbucks and other big shops are accepting bitcoin but it is not straight bitcoin. It is through a third party app named SpedN built by startup Flexa. I do not think there is a common enterprise that is accepting bitcoin right now. |
|
|
|
|
If ever it reaches 10K and above again, it will be because of fundamentals and adoption and a lot of FOMO and price manipulation. It will be the same cycle until bitcoin grows large enough that whales will not be able to manipulate it. It will be years more before it happens.
|
|
|
|
Another day at #RolandGarros washed out!
Rain weather for us is Stake weather, I wonder if it's the same for Rafa and Roger?
So many post about sports, I wonder if Stake will have sports betting on their site soon. This a good addition to the games we currently have. |
|
|
|
Any bitcoin commercials will be supporting a bitcoin based business and not just bitcoin. It is tragedy of the commons, who is going to spend money on solely promoting bitcoin. At that point you are just paying to pump other peoples bags.
Any bitcoin-based business flourishing is a good thing for bitcoin. Bitcoin will not flourish long term if there is no business using it. So if the business is promoting bitcoin, even just for their own good, that is still a good thing for bitcoin. |
|
|
|
|
Decentralized exchange and products put the control to the user. A centralized exchange is controlled by the owners. Once you put your money in there, you already lost control over it and became under the mercy of the owners. Unfortunately, dex is not that popular and more people trust centralized exchange.
|
|
|
|
|
I would love to see this implemented in our country but I think there are some constraints that will allow the use of blockchain for elections. Like there should be secrecy on a person's vote. If we use blockchain, everything can be seen in the blockchain. Then there are concerns for tx fees and confirmation time because there will be influx on transactions on the day of the election.
|
|
|
|
|
If a bank run happens in bitcoin, there is no controlling it. Every bitcoin owner has their rights to convert their bitcoin into any currency they want. So if there is a wide consensus to dump bitcoin, the price will suffer greatly. That is what is great and worse about bitcoin. Unlike in banks, if there is a bank run, the banks can simply restrict depositors from withdrawing their money. The depositors will suffer and the bank can direct the money elsewhere and declare bankrupt. Insurance will take care of the depositors up to a certain amount.
|
|
|
|
|
I do not think there is something Justin Sun can say that can change the stance of Warren Buffet on bitcoin, Tron or cryptocurrency in general. So this event will have no bearing or effect on bitcoin and cryptocurrency. Time will pass and this event will totally be forgotten.
|
|
|
|
|
I will not make any investment advice to anyone, newbie or not. I may present the current movement of bitcoin but I will not direct anyone to purchase anything. It should be their own initiative to make the purchase for investment purpose so they will have no one to blame if their investment failed.
|
|
|
|
|
The price keeps falling this week. I tend to believe that this price fall is due to price manipulation because the fall is so sudden. But even if it is manipulation, it has a drastic effect. It seems that the dump has stopped the steam of the bulls. But hopefully, this dump does not initiate a bear trend.
|
|
|
|
All it takes is 10 days for massive gains. And we got 7 months left. Think about. This is my opinion. Very speculative of course. But don't let this slip ur mind.
This is not just speculative, this is wishful thinking. You cannot possibly say something that does not have any basis. There is no guarantee that this year will remain bullish. And stop promoting cryptocurrency as a quick rich scheme. |
|
|
|
That is why many of the modern people especially those who are technology literate people who's wanted an easy and fast transaction like me. I am sorry that you experienced that kind of situation for sure it is very annoying,
I hope that in the future bitcoin will be available to all providers or all products that it can be an alternative way of paying instead of cash or through bank.
There are actually many third party services that provide you a convenient way to deal with everyday's shopping through bitcoin also there are many of gift card seller who accept bitcoin If you really interested in using bitcoin you can try that For convenience, third party service is good but for me, it quite defeats the purpose of blockchain and bitcoin. Blockchain is created to avoid the third party in making transactions. The third party service providers are like the banks which we are trying to avoid by using bitcoin. |
|
|
|
|
I think it is all just about the money. They are not concern about the technology of bitcoin but only about the profit that they can make through it. They are accumulating right now in anticipation of the 2020 halving and its effects.
|
|
|
|
Most of the comments, I can relate but this one really hits me : Not selling when you're up 40x is literally retarded (obvious, but learned the hard way).
I learned this lesson in a really hard way. This happened during the 2017 pump, now I am wiser. Always take every failure a lesson and a stepping stone. Crypto is still very young, there are still too many to learn and too much to earn. |
|
|
|
|
Blockchain removes the middle man in a transaction which can be very costly and unreliable. It cannot be hacked so information stored through blockchain is very safe albeit it is in a public ledger. It can be used in a lot of industries which is why it is dubbed as the future.
|
|
|
|
|
Show Posts
