I were surprised by the many people that trust banks and online "trusted" wallets to store cryptocurrencies
In cryptocurrencies, you will only be safe if you store your cryptocurrency, wallets, backups offline. The more exposure to the Internet, the more probability that you will be target of hackers. - Wallets are categorized to custodial wallets and non-custodial wallets
- You should choose non-custodial wallets because with them, you have control of private keys or mnemonic seeds.
- Non-custodial wallets are not enough. It is best if you choose opened-source non-custodial wallets. People can look at opened-source code and detect suspicious things. However, it does not mean all opened-source wallets are better than closed-source wallets.
- Choose wallets that support Bech32 (bc1) address and Lightning Network
Bitcoin wallets Wallet Basics:
Do not use wallets that don't give you recovery data; these wallets are likely controlling your keys.
Do not use paper wallets unless you're an advanced user who understands all the risks.
Do not store large amounts of value in single signature wallets.
Make sure your heirs know how to recover your wallets without you!
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This is highly unnecessary. You do not need to rush while reading for you to understand someone, that article is coherently structured. Also, no need to repeat what has been posted by previous posters which I have tried and corrected. If you still insist, is the first link suggested by ranochigo short for you, or among which you will criticize along. If you can not see difference between your topic, your sentences and achow101's, it is you failure. There could be stuck transaction, and the sender unable to pump it using replace-by-feeas the the transaction does not support replace-by-fee, what then comes to the mind of few is to use child-pay-for-parent to unstuck the transaction, but because the sender or the receiver was still using low fee in another (child) transaction, the transaction could still remain stuck, it would be one transaction (parent transaction) before and it became two transactions (parent and child transaction) that will be stuck, the other transaction is the child one.
Do you think this sentence is good? I don't mention about the content of that sentence. If a sentence is too long, breaks it into a few sentences. Readers don't want to read such sentence, and do you see it is failure of writing? If readers are patient enough to read, they will be challenged (by you and your sentence) to understand the meaning. It is another failure of writing. You write many sentences like that. Another one. If the original transaction hash (txid) is necessary in a transaction in certain payment, and you want to unstuck the transaction, you can not use RBF as the txid will be changed as the coin is double spent, but higher fee will be required for CPFP as explained above to create another transaction with high fee so the parent transaction can have high chance to get confirmed in a block mined
It is up to you. This post is the last time I talked about this. I get nothing when I give you my advice. No offence, no attack. Again, as I said, if it is only me, you can say I am attacking you personally but look who gave you advice? Naturally, people think they are doing the best, before the times they do something better and when they look their past works, they will realize something. My advice is what I learned, from my teachers, lecturers, and textbooks about Writing. If you have yet read any textbook for Writing skills, let's try to read one such book. - 10 Amazing Books That Will Improve Your Writing Skills
- I did not read any of those books (simply searched and found them) but I shared because good books for Writing do mention what I told you.
- Did you know the saying "If you can't explain it simply, you don't understand it well enough"?
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Yes, they can sell that afterward in different underground marketplaces.
Exchange hacks are always bad. If significant funds are stolen, exchanges will face with harmful losses and they will end up with two endings. - Compensation: Pay hacked-funds for customers, at once or gradually prospective.
- They often refund for customers prospectively with trading fees in the same time they earn from customers on their exchanges.
- They don't lose anything, simply sacrifice earnings in a few months whilst spend funds from their pockets to pay for staffs, operational, maintenance, security and other costs.
- They end with exchange shutdown or scam exit. If the hacked exchange is a new or small one, it will be most common ending.
If it's containing a huge database with verified customers of hotbit, then that's a big issue which shall give some trust issues against hotbit. And a simple reminder and not giving an egoed statement that everything is fine although it's not.
Database and personal identity documents can be sold and compromised in dark market. I often try to not submit my documents for KYC as much as I can. If I want to buy a coin, I will look at Market/ Exchange list, and choose the best exchange without KYC from the list. When I finish my accumulation, I withdraw all coins to my computer wallet. Just in case, hack occurs, data breach occurs, etc. |
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If non-existing companies or small companies can build up and develop their cryptocurrencies, why the Big-Tech companies can not? They will create their own cryptocurrencies and it is their ultimate goals. Bitcoin and alternate cryptocurrencies are not their priorities. Obviously, to make noise, catch attention, and attract new users, capital and usages, they have to accept Bitcoin and some top altcoins. They as big companies have more observers and have to be restricted more by governments. Whenever Big-Tech companies want to create their own cryptocurrencies, governments will response quickly and try to delay everything. Facebook, Twitter, Google, Microsoft and others will have their cryptocurrencies together with hundreds of CBDCs globally.
In the 2020 - 202? bull market, we have some good contributors - Institutional investments
- Institutional adoptions
- Bigger communities for Bitcoin
- Stronger belief on the Bitcoin survival. Since 2009, more than one decade, we can say "Bitcoin will neither die nor disappear".
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This website seems to be similar to reddit except with an older UI. It's obviously more focused on the topic of bitcoin but I can easily find a group on reddit to talk about bitcoin.
Reddit is another platform on which many projects have their own topics and communities. The forum (bitcointalk.org) is a forum for Bitcoin discussions initially and for others (discussions about altcoins and other things are derivatives of time). Owners or core admins of the forum have full control on its database. It is different than on Reddit and you can not ask the core admin (theymos) to shut down the forum and totally depends on Reddit database, rules, policies for Bitcoin discussions. Theymos is the core admin of this forum and if you've yet known about his account on Reddit, here you go |
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While I'm a strong believer that signature campaigns enrich this forum's quality and that “it keeps it alive”
Signature campaigns are part of promotions, advertisements of companies in the forum. They together help to bring more traffics for the forum but without them, the forum won't be a dead one. There are times the forum does not have signature and/ or avatar and it still survives so well. Once I read the replies of a thread, I'll ignore most of the users that participate on a low-paying signature campaign, by the thought that they are shit posters. But, that may not be true. I observe a form of prejudice. I'll actually take a closer look to a post made by a high-quality signature campaign participant rather than a newbie. It is your bias and any of us can have too (at somewhat extent). I disagree if you say the quality of specific posts is decided by the campaigns they are participating in. A user who are in low-paid signature campaign or bounty can still make good or outstanding posts. It can be expanded to ranks, a newbie can make outstanding post as same as or even better than a Legendary member. Generally, the average quality of post would be different (significantly) between participants of high-paid and low-paid signature campaigns. It would be more accurate if you generalize it from a total sample size of participants. A user may have thousands of merits, but he/she may create low quality posts. Someone with 4-digits post count and 2-digits merit count would be quickly rejected into your mind, either because he/she may have promoted failed/scam tokens or made shitty posts for pennies.
It is related to posting style. If you spend 2 or 4 years to rank up, with due diligent efforts for your posts, your writing skills should be sharpened and better. Over years, it will become your habit to make good contributions with above-average quality posts. However, you always can make shit posts. |
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No offence, the post is actually extremely wordy and some better structuring would be needed.
Well it still wordy for me. I read the first few paragraphs with full attention and then just scanned the rest of the paragraphs and trusting that you will not put anything wrong. It will be better if you can simplify it more. I do not think at the current format and wording many people will be interested to finish the entire article.
It is my dear opinion for your style with which you try to sketch your sentence as long as possible. It is unnecessary. If it is only me talk about it, it likely is my biased or distorted opinion but if a few people discussed it with dear intention to help you, it can be a correction for your style. Take or skip it, it is your decision. I discussed it with you long time ago and it seems you ignored it and kept trying to sketch your sentence.
I tried my best to reduce the post contents, but will result to missing of important information for newbies. Just trying to simplify it as it could be.
With same content, the shorter the better. Because the more succinct your sentence is, the more probability that readers will read it all. In short, there are at least two big problems with your posting style - Sentence is too long. You can make it shorter, always. You think you can not make it shorter, it is not true.
- Punctuation, conjunction words
- Writing is different than speaking but they have a common thing: no one want to read or hear if your write too much (unnecessary) or talk-ative. In the other words, such style results in side-effects.
Hope you read what I posted above, I think it is clear how I mentioned 'it depends'.
Your post is very long and I don't read it all. Another minus point in your post is bad punctuations. Frankly said, it is my contribution for your writing. It is not my attack. I bet that anyone can understand your sentence Admin recommends the same thing. When trying to write quality posts, a lot of people act as though they're writing a book report for school: putting facts that we already know into their own words. Nobody wants to read that, and you will not get merit for it. Moreover, the length of your post and the quality of your English are only minor factors. In trying to write a quality post worthy of merit, you should offer new ideas, personal experiences, or perspectives that other forum users will actually find new and interesting.
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I hope I am posting into the right section. I did a few futures leverage trades on Binance never above 4x. I wanted to ask if traders keep a long position open for over weeks and months? If yes are they paying many fees? With which option it is the best to open a position which you may want to keep open for a very long time?
Future trading is not for newbies and it is for experienced, disciplined and professional traders. Because you asked this question, I advice you to stop your intention to get rich with Future trading. If you want to get experience with Future trading, my advice: - Create a new account in which you store only 1% of your capital.
- Use that 1% of your capital for Future trading.
- If you lose that 1% capital, and want to spend more capital to learn, let's make another deposit with 1% of your capital
- If you fail 10 rounds, you will lose up to 10% of your capital, it should be a time to stop your Future trading adventure
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Bsiq is a decentralized p2p exchange
The DEX you mentioned is Bisq [1], not Bsiq. Please correct your typo. Additionally, when I recommend an exchange, wallet, service, etc. I would like to leave a link. It is a responsibility of readers to do their researches and double-checks, but if I leave all for them as exercises, they might end up with phishing sites from search engines. Help: A list of LocalBitcoin alternatives (P2P marketplaces). Among them, Hodlhodl.com is another truly DEX (not all P2P marketplaces in that list are truly DEX). [1] https://bisq.network/ |
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Personally, i believe it is a good idea to sell a small percentage of your gains every time the coins make huge pumps.
You can sell about 1% every time the coin gets a 100%, or sell 10% when it makes 1000%.
I also like to sell all my altcoins when they pump to trade them back to bitcoin, so I keep track of COIN/BTC ratio all the time.
My strategy is - Selling when price has a crazy pump in order to get my capital back. I will take my capital and keep it safely first.
- Next, take profit with some percent of the rest part. Profit is only profit if you take it.
- I usually allocate 10 to 20 percent of the rest part (after take capital and profit) to let it runs with time. I consider it as gambling, a crypto jackpot
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It will trigger a growth of peer-to-peer marketplaces and volume on such marketplaces will increase. In 2020, the news in India results in a dramatic growth of peer-to-peer trading volume in the nation. You can check the stats on UsefulTulips.org (combined chart for trading volume from Paxful and LocalBitcoins) India now is the second biggest market in Asia, just a little bit behind China. The next three nations are Philippine, Indonesia and Thailand. It is not easy for Thailand to take over the third position of Philippine but it is possible to take over Indonesia. |
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Ethereum is running higher and now selling at $3,160 , other altccoins doing some increase ,it happened that way in 2017 .
Bitcoin halving brought the new bullish period for crypto market. Ethereum is a follower of Bitcoin on the market but it is a leader for altcoins. - Bitcoin: leader of crypto market.
- Ethereum: leader of altcoin market.
From which, you can expect a blossom of altcoins in coming months. Top altcoins will retest (at least) their 2018 or 2017 ATHs and strong altcoins will make their new all time highs in this year (or next year ?). It is my speculation, choose one or a few to buy at good entry prices, then hold (for 2017-2018 ATH retest) or new ATHs. Warnings - It is only good as investments
- It is not applied for leverage trades, gambling. Your greediness will kill you (by liquidations from exchanges)
- Along the ride of altcoins, you will see many market massacres, with Cascade effects along the journey
- Generally, take care, control your greediness, and good luck
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So far so good and I, of course, wish that Hotbit will be back to their normal operations with fully functions and funds of customers all are in safe. Fortunately for people who store their crypto in Hotbit accounts but please take this accident to learn something. |
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Bitcoin and cryptocurrencies are for younger generations and I don't see anything weird if old investors like Buffet does not have interests in Bitcoin or cryptocurrencies.
They have their era and rules. Naturally, the elderly have their rules that you can not change. They are too conservative but I agree that if they can not learn something new (because of their ages), don't invest. Buffet does not break his rules and his risk management strategies can be useful for us as investors.
The pandemic, Buffet withdraw investments and capital from Air-companies and won't have plans to invest in such companies in the near future. I agree with this decision too. When you are uncertain about future, close your position and keep your capital.
The bear market in 2018 to 2019 is a period to read and digest his lessons, personally I learned a lot from Buffet and the latest bear market.
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I was wondering... When nuclear fusion becomes a thing in "the next 30 years", i.e., almost infinite and free energy production, what do you think will happen to proof of work? Will make the bitcoin consensus stronger or weaker?
Nuclear power is not a trend for the future. Many nations and foundations are trying to reduce operations of current nuclear power facilities as well as trying to shut down old facilities and won't intend to approve licenses for new facilities. After the Fukushima Daiichi disaster more than one decade ago, the world has been changing core approach to nuclear power. If nuclear fusion is going to be centralized, as it seems for now (look at the ITER), then I think it can be a problem. Nation-state attacks could be feasible.
Nations, governments can set up mining farms and mine Bitcoin. Bitcoin is opened for everyone, every institutes, nations so they are free to do this. If they do this, they will do it very secretly. They won't announce anything because they don't want to admit their systematic failures. |
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Some people simply live in the belief that transactions should always be cheap, no matter what the price of BTC is, and about what is going on behind the whole crypto mining process.
Personally I believe that the fee of Bitcoin transactions should only be considered in either Bitcoin or satoshi units. The fee rate at 1 satoshi/vbyte today can be 100x more expensive in 10 or 20 years later when price of Bitcoin increases 100x. It is not a fault of Bitcoin for cheap or expensive transaction fees in USD or fiat. If its network still allows patient and wise or knowledgeable people to make transactions at 1 to 10 sat/vbyte. It is acceptable in my opinion. It is not fair to require cheap transaction fee while you earn a lot of money from Bitcoin, in fiat. The storage cost of gold, diamond in bank vaults are much more expensive than the fee for toilet paper storage (if there is such services or vault). I'm just looking at mempool data and what about those who still pay a few hundred satoshi/byte?
Mostly from exchanges, services that broadcast withdrawal transactions for customers. The rest (much smaller) are from people who use bad fee estimators. |
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1. What is a good offline wallet I could use to store BTC? Are download btc wallet or app would be reliable?
Recommended wallets- Bitcoin Core: download it from Bitcoin.org or Bitcoincore.org. Bitcoin Core is too heavy with full node whilst with prune node, you can have other technical problems. I won't recommend you to use Bitcoin Core with prune node, so if your computer does not have too much space (about 500 GB), let's consider Electrum wallet that is lighter
- Electrum wallet. It has an application for Android and please get Android link to download in the website page, don't search Electrum app in Google Play
- Wasabi wallet. It gives you Tor connection, Coin Join transaction and better privacy
- How to Safely Download and Verify Electrum. See the guides to verify Bitcoin Core or Wasabi in download pages
2. How many Keys and what are those keys that I need o save from the BTC wallet?
Depends on the wallet you are using. You can save the mnemonic seed of whole wallet and use such seed to recover all keys, addresses in that wallet. Or you can simply save the private key of a specific public address you store your Bitcoin. 3. If I bought BTC and not successful. Is there any refund I can get?
If you are Bitcoin buyer, it depends on how your trade was done. If the trade is done without Escrow, you won't get anything. Scammer will get your fiat and run away. If you are Bitcoin seller, remember that Bitcoin transaction is irreversible so make sure you receive fiat (or other payment method) before you do your last step "Release your Bitcoin" for that trade. 4. Can I transfer BTC to someone living in different country?
Yes. You can. Bitcoin transaction and its network are Borderless. 5. What are the Tips in handling or having BTC in the wallet for safety keeping?
- Write down private keys or mnemonic seeds that help you to recover your wallet later (on same or different devices)
- Save backup files in secret and safe places. Should be Offline.
- Don't make noise and tell everyone that you are a Bitcoin investors
- Try to practice wallet recovery, and do it successfully before you buy your first bitcoin and store it in that wallet
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Exchanges or gambling sites have sort of strict rules for Coin Join transactions or deposits from mixing/tumbling process.
They have reasons behind as they don't want to put their platforms under risks from governments and money laundering accusations. It is obviously that not all transactions are done with Coin Join or mixer/ tumbler services are from bad resources. Everyone can use such transactions or services but service operators need to have a preventive barrier to detect and protect their services.
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