I have some Bitcoin in a Blockchain.info wallet and am concerned about how accesible my funds will be in the event of Blockchain suddenly going offline and the site not available. Let's imagine that the site is no longer there, can anyone give me the steps needed to get access to my Bitcoin? Is it even possible? Write down your seed and import it into another wallet. It's as easy as that. no, it is no that easy at all! each of these different wallets use a different method of generating a seed (recovery phrase or whatever each of them call it). which means you should know which derivation path they used for it to be able to recover your private keys. otherwise importing the seed you may end up having a whole different set of addresses. there is also the fact that if you have created another sub-wallet in your account using the same seed. then the derivation path will have a /1/ or /2/ and so on at the end and again you end up with a whole set of different keys.
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i just want to add that when you diversify you should be extra careful not to over do it.
i am speaking from personal experience that when you diversify specially when you are investing in altcoins it is easy to lose track and invest in a very large number of altcoins and you end up having lots of different alts and most of them are useless and lose price. the bigger problem is that it becomes impossible to have all of them under close observation at all time so you may lose track and with it money.
what i do is that i obviously invested in bitcoin and as for altcoins i keep the number to a handful so it is easy to handle.
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hard fork in general can be good and bad. good if it is a needed upgrade of example, and if it can get the majority of the network to support that hard fork. it can help bitcoin be improved and become better.
but it is bad in general because hard fork means all the network should upgrade and that is a hard thing to do in a decentralized system and also hard forks have their risks too. and if it can not get the majority support then there is no point in forking anyways. it becomes more damaging than anything else.
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re-applying for that 1 Hero spot left in the spreadsheet Post Count (including this post): 2281
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Payments have been sent to those who qualified, This campaign is over, you may all remove your sigs.
Thanks for the payment and a job well done.
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a x1000 is quite a lot. Multiply Salt's Marketcap times 1000 and you tell me if it's realistic or not I think it's possible but certainly not in 2 years. Maybe 10? since market cap doesn't mean anything, so yes it is possible. if it weren't then XRP could have never rise nearly 7000% this year! it has the biggest market cap of all coins. i am not familiar with SALT though, but a look at the charts it looks pretty pump-able to me. and it not being so popular means it is even easier to pump it that much.
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since bitcoin gold is mostly a joke with a huge amount of premine and nobody even takes it seriously then talking about "priced in" and talking about price as if it is BTC+BTG price is meaningless!
BTG will create an obvious altcoin, like others. and your question is like asking what will bitcoin price be when next altcoin or next ICO comes out!!!
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Do you guys think it's a bad idea to buy some Bitcoin before Oct, 25 to claim some free BT Gold?
If it is priced at about BCH (which many are sceptical about), it would give me, say, $20 worth free tokens on purchasing 0.044 ($250) of Bitcoin?
Not too bad, it seems.
Or not worth it?
it is a very risky move "now". looking at bitcoin charts, we already can see a big rise in bitcoin which ended up setting a new ATH for bitcoin. and now price is in consolidation phase. there may be wild fluctuations and some testing of bottom resistance. in other words price may go down. so if you want to buy just to get the BTG reward you may lose some money. for example if you buy at $5500 price may go down to $4990 on top of it BTG price may not be as big as you'd expect it to be since it is not even half hyped as BCH!
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it is always pretty hard to choose an altcoin for "long term". they are not known for good performance in long term. everyone wants to get their money out as fast as possible and as you can see every time bitcoin fluctuates altcoins are dumped hard.
if i had to choose, i would choose 2 coins: litecoin and monero. LTC because it is the brother to bitcoin and keeps rising with it. XMR because it is a well known anonymous coin which is popular and had a very good and stable price.
i am also looking more into coins that you can stake but i am a bit disappointed in their prices in long run which means you can not make decent profit from them.
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ALWAYS make sure to visit the official website of these coins. for bitcoin gold it is https://btcgpu.org/ anything else may be giving you malware to steal your bitcoins and other sensitive information. and so far BTG only has its full node wallet. and since they are forking from bitcoin and using its blockchain, you will probably have to download the whole blockchain which is 140+ GB (similar to bitcoin cash) if you want to use it. anything else like SPV wallets such as Electrum, you have to wait until someone starts a project and builds one for it. so far the code for BTG itself is not even ready let alone any additional wallets!
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Bitcoin and other cryptocurrencies are not a safe heaven in case of a nuclear war.
Gold is usually a safe haven in times of crisis. Why don't you think cryptocurrencies will be? it will be both. obviously Gold is the choice of everyone since it is well known and you don't have to introduce anyone to gold! but people may not even know bitcoin exists or have heard it as a passing thing. but also ever since this year, bitcoin has been seen as a viable investment option which will also outperform everything else. so it would be expected to rise in case something happened and people were looking for some "safe havens". other cryptocurrencies may also get some attention by just being similar to bitcoin. nothing else.
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What are your thoughts?
Cryptocurrencies like bitcoin are not the "new gold," Goldman Sachs said in a note, advising investors that precious metals "remain a relevant asset class" in portfolios.
i can agree that bitcoin is not something you drop precious metals for. they have been around for a long time and have more solid prices. so "storing value" in gold for example, is much better than storing it in bitcoin. but that doesn't change anything about bitcoin and how much potential it has. i say never drop gold because bitcoin is very volatile and despite all the profit that i have gained and i know i will gain in the future, i can not deny the higher risk that it has. The analysts said that digital wallets, where people can store cryptocurrencies, are vulnerable to hacking, and virtual currencies also have "significant regulatory risks." For example, China recently banned cryptocurrency exchanges and put a stop to initial coin offerings (ICOs), the new way for start-ups to raise money by issuing digital tokens.
this part is completely bullshit. it is like saying buying gold is not a good idea because someone can rob your house and take it from you! and as far China and things like that are concerned, because bitcoin is decentralized and belongs to the whole world, one country pulling some shenanigans can not affect it. Goldman also said that cryptocurrencies are subject to network or infrastructure risk during a crisis. For example, there was a "hard fork" this summer when bitcoin split to create a new cryptocurrency called bitcoin cash.
actually the BCH fork proved that bitcoin is much stronger than this. a fork attack like BCH can not cause any permanent damage to it. The investment bank said that precious metals are "still the best long-term store of value"
i see this mostly a combat between the old world and the new. and those belonging to the old not wanting to change and see the future is ahead of them. it is surprising to read this from Goldman Sachs though. because they are heavily invested in bitcoin.
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When I first started day trading crypto earlier this yeah in low 1k's for BTC and about 80-90 for ETH I started making ridiculous amounts of profit and fast!
this is what i once warned people about. by that time the altcoin market was all pump and always rise only. this made a lot of confusion among those who started trading. they all thought they are good at it and understand the market. i don't know if you are exactly among those but many were and they are not facing the reality of the altcoin market while they keep losing money each month as the same altcoins have dump only. I was forced to learn the hard way that if I had just held those original investments, no leverage, no day trades I would have made 10x more in the long-term. How many of you have experienced this same thing over the last 8 months???
Interested to see the perspectives, specifically with alts...
well as you can see the only coin that has a solid rise in the long term is bitcoin. i never expect a 10x rise out of it in something like a year but it is a good profit with lower risk than others. for altcoins, things are different. if you look at their charts it is extremely rare to see a consistent rise. for example in a year you see price stable with a little drop then in 2 months out of 12 you see a big pump which lasts 2-3 weeks to reach the ATH and it is all downhill from there. not knowing this pattern can mean getting caught in the dumping side of the hill top.
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another crash another new high another crash another new high and the story goes on. thats what makes it all so exciting isnt it? if you dont like +-5% daily you should go to forex
Exactly, it is like this. Although its not crash merely a correction which will happen and happen... More and more i think about the only viable investment is in BTC (longterm for crypto: at least 2,3 years) and not search new altcoin unicorns, too much risk involved, since you need some knowledge for entry and getting out and follow the tech and develpoment... I think so too! But many coins are real scam and These will really crash nobody really cares about coins that are "real scam" around here to be honest. if they did care none of these scams could even gain any trading volume. the thing is, people are looking for profit and they rarely even check the project itself or its developers. they just look at some charts, the volume and sometimes the media (news) and invest if they see the possibility for a big profit.
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you are asking a question that can not be answered correctly. the altcoins in long term are impossible to predict. any of them may die in a month let alone until 2018 when there is still 2-3 months left. instead of focusing on that long, it is best to focus in short term trading the altcoins in my opinion. there are good projects, there are pumping projects also. choose one path and stick to it. for example i see some coins are being hyped these days (see this board for the most topics subjects ) you can choose them and invest and enjoy the pump!
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What is the problem to verify your account? Is there everybody has shady deals and you afraid to get them out? I don't think Bittrex will be share your data with somebody.
how do you know they are not going to share it? anyways it is not about them sharing it. they can simply get hacked and their database leaked. it certainly wouldn't be the first exchange to get hacked! they can even sell it themselves and say they were hacked. and it is not about doing anything shady, it is about them not having any reason to ask for it all of a sudden. and there is no need for it. we are not deposit/withdrawing fiat there.
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What wallet do you use to keep bitcoins ?
blockchain.info not sure if they will give em fast enough though lots of posts on reddit about BTG is a scam, what do u think? since blockchain.info does not control your private keys, they can not give you your BTG, you need to claim it yourself. there is a recovery phrase in blockchain.info which is like your seed, you can use that to get your private keys. (not sure about the details since i don't use it but it is possible). BTG is not exactly a scam but not exactly a good for either. it is forking from bitcoin which makes it already bad since it is not from scratch. and also it has a premine which makes it even worse.
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Major resistances have been blown like a tower of cards. This is only the beginning. Expect $7000 short thereafter. We may get to $10000 this year if the segwit2x corporate takeover is beaten quick enough. Im hoping everyone with power in bitcoin crushes the corporations involved in the hardfork.
If we get past segwit2x, it will be smooth sailing. For now let's enjoy the ride.
Yeah, I definitely agree with you mate. But I think $10k is not possible this year. But very possible to happen next year. I also believe that it will continue to rise as the years go by. Sooner or later, it will be equal to 1 lambhorgini. So today, will chase more bitcoin and gain more profit tommorow. If the bitcoin is the only "bitcoin" after November, then the price could be much high. Otherwise, the price could reduce. the bitcoin will always be only bitcoin after any fork. there can only be one bitcoin at all times and the rest will be altcoins. the difference is that if they some day succeed in creating something that gains more than just a small amount of support from the community that bitcoin price will drop. otherwise forks with small support will always be crap like bitcoin cash and any drop in bitcoin price will be meaningless and temporary.
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i took a quick look at the article, it seems good. thanks for sharing it here. i will make sure to read it with more attention later. Ethereum is planning to start proof of stake concept at the end of this year / early next year. None can forecast how it will influence the currency. There is a high probability that current Ethereum miners will not be ready to shut down their existing mining capacities. This will result in new fork, which we saw in bitcoin during this year. Proof of Stake is definitely going to stir up change among the different players on the Ethereum network. Like any new change, it comes with some important benefits but requires the cooperation of all those parties to succeed. Since many miners already hold large reserves of Ethereum, there's a good chance they might not see PoS as a huge threat (given the opportunity to gain ETH from depositing some of the ETH they already have). Miners will act selfishly as we have seen many times before. I think they will fork away or will go to ETC. Thats why i think-> when ETH goes POS, i think ETC will moon. but there is a big problem with this. you are forgetting about the difficulty bomb which both ETH and ETC have. i don't remember seeing anything about ETC doing anything about it so they will be forced to change to PoS too. and there won't be anything left for miners to mine. it is actually a lot more possible that ETH miners switch to mining Bitcoin Gold (BTG) since it will be released soon!
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