... I'd be interested in in the BitBox02 ( https://shiftcrypto.ch/bitbox02/). I had an earlier model from these guys (out of Switzerland) that worked fine until a it seemed to have a relatively short lifetime (overheating?) so I never re-ordered, so I then bought a Trezor (Model T) and Ledger S, both of which work fine but have the security issues... Nonetheless, I have not heard of any problems or even reviews of their devices. Swiss-made might mean extra-quality components (?). Any buyers please feel free to pass along comments or reviews, as when I bought one year ago, they were as functional as the early Trezor and Ledger. |
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Note that giving one as a gift to a newbie would require you to tell him how to get the BTC into a real wallet.
Well, the person I'm giving it to isn't into bitcoin but he is certainly smart enough to figure it out if he wanted to (which he might not). All the info needed is on Ballet's website, so there's no need for me to explain anything to him--which is fortunate, because I'm not actually going to see him in person this holiday season. Lol. Also, I believe the Ballet and OpenDime devices both require a bit of trust that no one at the manufacturing plant would monkey with the devices allowing someone to steal deposited funds.
Yes, that's the big issue here and I'm well aware of it. That's why I started this thread, in fact. I wanted to know if anyone had ever run into any problems as far as security went. Frankly I don't think many members here have used the Ballet wallet before, and I can't say I blame them. That damn trust issue you mentioned would keep any serious bitcoiner far away from a wallet like this one. Earlier this evening a long-time BTC investor at ZeroHedge wrote of giving OpenDime devices to his young relatives along with a note how to retrieve the BTC. Because of OpenDime's being easy to pass along (by hand) WITHOUT an on-chain record, I thought this was a fantastic idea. The devices are cheap and apparently at least somewhat durable as well as small.. Once passed around a time or two, you have nice quiet chain/set of off-chain transactions... I will continue to be thinking of interesting ways to pass along value (BTC) in quiet ways. I presume Ballet cards would be similar in function to all of OpenDime. The only downside is risk of loss or theft of the card or device. Hide it well! |
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$27,350 (preev.com) just now. Very impressive day or so. Never seen anything like this. [Could a sharp dump be coming soon?] THANK YOU to all for having kept me more in the game. Without you all, I would be all in gold (which I like), but is not the fastest horse in the race. STILL. amigos mios, would not hurt cautious or older HODLers to take a schnitzel off to buy gold, fiat, art, high quality collectibles (etc.) to beef up other holdings, you know, boring diversification and all... Like you all, I to am looking forward to see if we get $30k or even $31K by end-2020. And I wonder what sorts of big moves await us in 2021. EDIT: before finishing post, $27,400 at preev...... EDIT 2: Taking bits & pieces from from BitPay's new debit card service is allowing me to build up a nice cash balance, with the idea of my bellita seņora peruana and me taking a nice trip somewhere once COVID restrictions end with BTC profits. First/Business Class of course. Vienna, Italy, France all beckon, will be a hard decision... |
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I have not used a Ballet card, but have used OpenDime devices. I like the OpenDimes!
But you do need a wallet that can sweep the funds from a paper wallet / OpenDime / Ballet (I am fairly sure for Ballet). Blockchain.com's wallet (at least the older version I have used for years) allows importing/sweeping. I did it just the other day just to make sure I could do it without a hitch.
I read here somewhere that Electrum wallets also allow you to sweep in the funds as well, but have not used Electrum. There may be others too that would allow you to get your BTC off the Ballet.
Note that giving one as a gift to a newbie would require you to tell him how to get the BTC into a real wallet.
Also, I believe the Ballet and OpenDime devices both require a bit of trust that no one at the manufacturing plant would monkey with the devices allowing someone to steal deposited funds. OpenDime does have a service which you can cryptographically check to see if there is tampering, but I have not used it (for shame!).
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The "Christmas Star" is now out tonight (western sky in the USA). This happens when the planets Jupiter and Saturn get very close to each other in the sky. Tomorrow the two planets will be so close that they will look like one star.
This happens very rarely. After tomorrow, it will not happen again in our lifetimes. *
* astronomy nerd as a kid
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... Biodom #555306 Au contraire, mon amisTaking profits in BTC price spikes has worked great for me in 2017 and now 2020 (I did buy BTC from 2018 - 2020). In part, granted, that I did not sell BTC on a continuous basis as it went over 1%, typically for various reasons (sloth perhaps No. 1), it has taken a bit of time for me to actually cash in when I did. * * * Actually, I might disagree with you re concentration based on increasing wealth. IMO (and I do need to study this more), having a whole lot of money gives you the freedom to concentrate more. Michael Saylor might be a good example, he has so much money that HODLing a LOT of BTC can make a lot of sense if he is secure with that (re risks, etc.). I would imagine that he is perfectly OK with having that much BTC, and more power to him. And I would guess he owns his own home, probably with low or no mortgage.  I would agree with you that if you have little extra money that 1% in BTC makes little difference. In the Bitcoin Ecosystem I am neither Shrimp nor Giant (apologies to FOFOA for using his terminology and ideas here). BTC has made a real difference to me in my life. |
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it does not apply to private hodlers sending bitcoin to each other. only when it touches a companies wallet. which means that every US btc owner will transfer his/her coins to self custody in the next 14 days. less coins available on exchanges = bullish for bitcoin. I have some difficulities figuring out what to make of these proposed practices that seem to have decent chances of going into effect. Yeah, of course, they create greater obligations and pretty much deter HODLers from moving their coins to a private wallet, and we still need to know how the fuck the exchanges are going to verify this beyond a mere statement from the HODLer that the wallet that they are transferring to is their own wallet. Yeah.. burdens.. and perhaps will create some incentives for the creation of more underground kind of transactions.. I am not really going to change too much of what I am doing currently, and will see how it goes. My personal bitcoin exposure on exchanges is way smaller than it was in 2015/2016, which might have been around xx% or more of my holdings were on exchanges. Then in about mid 2017 I downgraded to somewhere between about xx% .. and currently, I just looked at it, and it appears to be around xx%-ish... ( edited my disclosed percentages for reasons.. hahahaha... you fucks!!!). I am just going to ride it out, and see what it does. I have already been KYC'd on those on exchange coins anyhow, and I was not even considering transferring those coins out, even within a variety of scenarios, including having to report them.. those are merely coins that could be liquidated on a BTC run, if I were to so choose.. and yeah, sometimes moving coins around and changing your system based on fucktwats.. whether governments or otherwise, can cause issues too, but I understand the motivation and rationale that comes from what seems to be proposed currently.. and there are likely BTC HODLers who are way too overexposed in terms of NOT even having coins under their own control, and these kinds of proposed practices should cause some reflection upon risks that they are taking in that direction.. and whether that risk is sufficiently balanced. This is another example of unanticipated risks of Bitcoin, especially of the Big Rhino variety. My worry (for years) has been that while the Bitcoin Ecosystem is essentially unbreakable itself (managed properly by HODLers), it is the Entrance and Exit Ramps that are vulnerable to strict controls. It is clear enough to me that Bitcoin will come under further scrutiny and regulation as .gov loses more and more control (and their financial need/greed rises exponentially...). Any doubts that .gov will likely grow ever more authoritarian? Look at England locking down London right now... Since no one can predict the future (and major technology changes), prudence suggests not holding too much of net assets in BTC. I understand (and accept to a degree) the arguments of "betting on the fastest horse" (etc.), but there are ample precedents showing danger of being too concentrated. Just now I read above about Elwar's Satoshi project not working out due to, in essence, a Big Rhino problem. The NICE BUMP up in BTC price has been useful for me. I very recently sold a smidge, continuing my strategy of taking some profits. BTC rose to well over 1% of my net, yet my sales were not enough to drag that down to the ~1%. One should not be afraid of diversification and taking some profits along the way in an asset that really does look to be world-changing. Taking some profits along the way, however, does not lessen my enthusiasm for this wonderful new asset class that Satoshi (et al) have invented for us all. |
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Yes, I would take the money and run.
Another interesting question would be to have asked if each Voter were a "small" HODLer or "large". I would bet that many larger holders would sell and move on.. ("Small HODLer" here)
EDIT: Besides, because no one can predict the future (and unknowable technological change)...
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Kraken already gained approval to turn in to a bank a few months ago, although I've not seen anything since to say they have actually made any progress in doing so.
BitPay already offer debit cards and custodial accounts, so it's not really a huge step for them to form a bank. Not that I would touch it with a 20 foot pole, though, but I'm sure it will help to on-ramp more people in crypto. Hopefully they will quickly discover how terrible BitPay is and move their assets out to their own account.
What kind of insurance will BitPay be providing to customer's crypto and fiat deposits? What will their reserve requirements be? Will they be operating fractional reserve like other fiat banks?
I have been using a debit card (MasterCard) from BitPay for a month or so. BitPay's card can (only?) be loaded from their wallet app, and they have a fairly strict KYC procedure. The system is still a little clumsy to use, but you can take up to $1000 out of an ATM and keep up to $25,000 on your card. The two merchants I use the most with BTC payments have BitPay as their payment service provider. So, even with their clunky card and payment service, it is still useful for me. If they set up a bank, their services may become easier to use. |
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I have been using my MasterCard debit card from BitPay for about four weeks or so. BitPay has been around for years.
They want a fairly strict KYC process, and loading the card (turning BTC into "cash" that you can spend) is a little clumsy and inefficient, but all in all it works. You can take out up to $1000 from an ATM per day, and you can load it up to $25,000 to spend.
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Copy that philipma1957 (# 552833). I am very happy to have sold bits & pieces on the way up. small bits and pieces.
HODL the bulk. Should be excellent times ahead for BTC.
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 Buy that red.... for future green Yeah did that today Sr. Dude. Via the LibertyX service at CVS. Total cost was a hair under 2.0% (for $500 worth of BTC @ fast transfer), still a good deal, don't know when that deal will end... * * * EDIT: @Philipma1957 re comment #552313 above Read about that mutation too. Ick. 10-4 re preparation for a rough time ahead. "If you liked 2020, you're going to LOVE 2021."Maybe a new ATH will help. |
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Today I bought BTC via LibertyX. It looks like their low cost program is still in effect, I paid a tad under 2.0% (quick and dirty calculation) for $500 worth of BTC. A great deal, a "BTFD" opportunity we just had in BTC prices today.
So it looks like it is still a low cost way to get BTC at a good rate.
I do not know when or if the low rates will continue, perhaps yimfinity might fill us in.
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BitPay BTC/payment processor now offers a Debit Card to those willing to go through the KYC process. I did this, and it all works just fine. The card will allow you to withdraw CA$H from ATM machines (after loading Bitcoin onto the card for conversion to cash). You can withdraw up to $1000 at a time from an ATM. The limit you can hold on the card is a nice chunky $25,000.
You can use the card just like any other credit or debit card anywhere where MasterCard is accepted. So with their system you can use either direct BTC payments or the convenience of a credit/debit card.
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... The time has come for me to thank all of you here at W.O. I had, of course, HEDL a small position in BTC before arriving here years ago. But, I would not have bought as much (small as it is, relatively speaking) without the encouragement of everyone here. I found many interesting links that educated me greatly, and have been amused by those having a fine sense of humor.  I am not going to even try to name anyone here, as you are legion, and I would forget many many names. But, collectively you have all helped me and my family attain moar financial security as I built up my stake, selling some along the away (prudence). So, have a great Thanksgiving (fellow Americans), and all the rest please receive my gratitude for enthusiasm and knowledge about the great innovation of Bitcoin! |
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Excellent article, highly recommended. Thank you for posting it. |
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FOMO coming soon? Rich people and institutions w/out BTC are going to be wondering WTF they aren't in?
Not that I would know, but BTC will be getting attention again as we get closer to its ATH. If we get there...
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There you go Bob.
Didnt take long did it?
I certainly can't fault a man from taking some profits (Bob & $16,250), that's what I do: selling slices but HODLing the bulk. Hope you didn't sell too much though, Sr. Bob... [does seem unlikely] Now that I can turn BTC into FIAT$ whenever I (might) wish, I feel under less pressure to sell. Funny how that works, now that I have comfortable liquidity (both directions), I feel, well, MOAR HODLER.EDIT: True that, Sr. Torque (someone's buying yours if you sell). |
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Wow, quite a day. Observing $15,920 (preev.com).
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