What most funny is that CBDC will make use of blockchain, who is the founder of the blockchain, the creation of bitcoin led to the evolution of blockchain, all digital assets will be under bitcoin, it is the first and it is the original. All others will have to follow bitcoin at the back.
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One thing I like about bitcoin is the supply, it is very finite/limited, I remember in economics that the high the supply of anything that the lower the value of such thing will be, but bitcoin is not like that, bitcoin has a limited supply which is just 21 million and nothing can change this. Bitcoin is developed with open source codes, which makes everything to be be transparent about bitcoin, no manipulation from any central body because it is not countrolled by any central body but it is decentralized all ways, it is only countrolled by people according to how they buy and sell it. The finite number of bitcoin total supply makes bitcoin to have great value, that is why people are now buying it, institutional bodies are not left out but are now involving themselves and investing heavily in bitcoin, this has just been the evolution of institutions investing in bitcoin while the adoption continues.
CBDC will not be a transparent cryptocurrencies because it will be controlled by central body which are the governments but people will think it is transparent, it is still at its early age to draw conclusion but it will not be transparent in a way the fiat are not totally transparent but be manipulated. It will not surprise me if CBDC is used also in money laundering and terrorism, but it will have its value. But it will have some disadvantages like the asset of people may be known and be disclosed to the public while the governments will be using it to bully people in a way they will be freezing people's CBDC the way they like in case of anything happen. CBDC will be successful but bitcoin is better for privacy, privacy is very important which CBDC can not give. It is government that will say they will let citizens to have privacy, but they are really making citizens not to have privacy. CBDC is another source the governments will continue to manipulate people. Although, it will be good but bitcoin will be safer.
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Trading is very risky, you will need to be an expert before trading. Go and learn trading very well to be able to analyse appropriately and make good predictions.
But as for me I will prefer to wait if it can fall to $30000 again, but as grayscale open investment for their customers, like the price may increase but not certain about this that is ready to go beyond $40000 for now. Which means swing trading and day tradingis the best for now but know they are risky, especially day trading.
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This is one of the advantages to having a multi-sig wallet where you need multiple keys to sign a transaction instead of just one. Having a single key represents a single point of failure. Of course you still need to manage your keys in a multi-sig setup, but you don't risk ruin if you happen to lose one of the keys (if for example you had a 2 of 3 setup which means you have 3 keys but need only 2 to sign a transaction).
Multisig wallet is only good when there are many people that needs to handle a wallet, a good example is a company that want to have a bitcoin wallet that needs to be handled by many people, the company can have a multisig wallet in a way two or more users can be given different private key. In this case, if any of the private key is compromised, the bitcoin on the company wallet can be sent to another wallet which they have just newly generated without anything happening. If you have a multisig wallet, do you know the transaction fee is higher than normal wallets? That aside, many people will still have to do the backup together which can make the multisig wallet to be hacked at ones if hackers have access to the backup. There are many people making use of cold wallet backup and yet their wallet is safe, because the backup if private key and seed phrase are offline, they are still one of the safest wallets to use.
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Re-Apply (maybe you will give me a chance) will update avatar and signature ASAP sir.. The address you included is not a segwit address, you can try the link below to know about bitcoin addresses: https://blog.hubspot.com/marketing/bitcoin-addressBut to make it simple, try to use address that is Bech32, the addresses that start with bc1or use an address that start with 3. bc1 and 3 are the addresses accepted as segwit.
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Did he remember his seed phrase? 12 to 24 words the wallet generated for him when he first opened the wallet. He can just import the seed phrase on electrum wallet. He will be able to recover back his bitcoin.
If he has no electrum wallet installed, he can visit electrum.org to download it.
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Bitcoin is an asset and the transaction fee is high, the transaction fee will also be getting higher as the price will be increasing as people are adopting it more and more. The transaction fee can be a problem that will not make people to use bitcoin as a means of transaction, but onchain transactions. That is why lightning network has been developed, as the onchain transaction fee will be increasing, there will be increase in lightning network adoption. The purpose of lightning network is to provided bitcoin users the opportunity to be able to send bitcoin, even small amount of bitcoin with low transaction fee, and the added advantage is the increase in transaction time which means the transactions are even fast and completed within a second or less.
People will be able to still send bitcoin with low transaction fee as people are adopting lightning network, the increase in onchian transaction fee will let people to be moving to be using lightning network for bitcoin transactions. This will have a possitive effect that will make the onchain transaction not to be as high as it should be in the future but although still will be getting higher, more people will also later be depending on lightning network for bitcoin transactions.
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The author of the post under the nickname BitcoinHolderThankU earned bitcoins in 2011-2012 by watching videos and completing tasks, but lost the private keys to the wallet. He restored access only in December 2020. The value of bitcoin as at 2012 is not that high as of this time, bitcoin was less than $12 at the time. It is not the video task or the survey that made him rich now. Those kind of tasks can not make someone rich, he his now rich and worth over a billion dollars because bitcoin price increase all way low to all way high from less than $12 to over $35000 when he sold it last year December.
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These type of integration wallet site will only be dubious, before you will be able to integrate wallets, you will need to supply seed, master private key or seed phrase. These can be used to steal the whole bitcoin and altcoins that someone is having. This will only be a phishing site that will require for any of these (seed, master private and seed phrase). Once given it can be used to steal your whole wallets at ones and all coins stored on them will be lost, it is better to use our wallet alone without any third party involved.
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Importing the seed into electrum basically voids the hardware wallet's security. If you do this, you should treat your hardware wallet as compromised. There is no need to do this, since electrum is compatible with ledger, so you can create a new electrum wallet using your hardware wallet directly. This way you can use electrum's features (and stability), but still sign transactions on your ledger without compromising your keys
Thanks for pointing that out, I thought the ledger nano wallet can be faulty which can make it not to be fully functional on electrum too, but if using it on electrum instead of ledger live and it works, that means your are completely right.
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The first will advice you to do is to make use of iamcoleman, make use of it offfline. Make sure you use it offline because it is not safe of making use of such online. https://iancoleman.io/bip39/Type your seed phrase and see the address it generates. Check if your ledger nano s address that you use to send the bitcoin from coinbase is there. If it is there, you can just import the seed phrase or the seed to electrum if your balance will appear and check try to send your bitcoin. But before trying this, try using ledger wallet with electrum first as suggested by mocacinno, maybe probably it will work.
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Open Source does not necessarily determine it's level of security.
If I can take trezor and ledger nano as an example, there have been vulnerabilities found on these wallets, there were bugs and other vulnerabilities that were later fixed. But open source wallets are far better than close sources. Users can not know what is happening while they are using close source wallets (users do not know if the wallet can do some monitoring or have some vulnerabilities that was coded into close source wallets), also what tells us the developers of close source can not later create a backdoor to steal from people. Bitcoin is money, I can not keep my bitcoin in a safe that I do not know the inside because I do not know what is running inside, that is why close source wallet should be discouraged even if good. Everything about bitcoin should be decentralized and open source by nature because bitcoin is money, anything we will use to keep bitcoin should be completely known to bitcoin users, to know what is running under the wallet as its source codes.
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This topic is very useful and helpful, it can help in recovering back wallet seed which is the reason I like this topic. Like the The FinderOuter, a bitcoin recovery tool (v0.6.0 2020-12-24), it has been used before to recover back my friends seed phrase when he was unable to recover one of his missing 12 words due to his paper backup damage. In addition, we need to also as a bitcoin users to focus on how to backup seed phrase and passwords in a way we will be able to recover it back. We know people can make mistake, even the experts can make mistake but we need to be conscious about how we will recover back our seed phrase in case of cases it got lost or not accessable because there are times our backup will be lost in a way even any requirement by the recovery tool may have also not accessable again and the wallet will be lost forever beyond recovery. There are many people that lost their seed phrase and not able to recover it back. That is why we should just try as much as possible to make sure we do the proper backup in a way if one is lost, two or more will be available for recovery as replica.
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I think you need to be corrected in case of next time, try to read the terms for applying before applying, in signature campaigns, campaign managers do have minimum amount of merits people that can apply should have within 120 days, it is mostly 5 merits. For this campaign too, check the quote below. You need to have received a minimum of 5 merit in the last 120 days to take part in this campaign.
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Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2819049Current amount of Posts (Including this one): 468 SegWit BTC address for payouts: bc1q2sefg02mlpc3muyuzx3exn5nadx74k9zzu5lkr Earned merits amount in the last 120 days period: 76 Kindly wish to work with you. Signature and avatar will be updated immediately if accepted.
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Exactly my point, I have seen on this forum posts like: How to make money How to make bitcoin How to earn merit And few other similar questions like that Instead to concentrate on the prerequisites which is how to help each other on this forum while the reward for helping is the merit that will be used to rank up.
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Hardware wallets have been one of the best ways to safely save bitcoin offline and yet in a convenient way that can be easily used by beginners. As for me I prefer open source wallets, this makes me to prefer open source hardware wallets but I am thinking if it is possible there is any hardware wallet that is open source in a way it will not be partially open source and partially close source but completely open source. I know three common hardware wallets now:
1. Trezor 2. Ledger nano 3. Coldcard.
Which hardware wallet is completely open source out of the three? Which one is more recommendable?
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I don't fully understand the purpose behind this post.
The topic is to just be a reminder for newbies and people that are ranking to know that only quality posts can make them ranked up, that they should learn about the requirement for posting quality posts which hardwork, patience and believe are the three keys they need to achieve these.
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I do not know much about bittrex but coinbase do not support many countries as binance do, I will prefer binance. Also coinbase has a trading volume of around $3 billion while binance with a trading volume of around $45 billion recently, I prefer higher trading volume exchanges for trading.
@Bitcoin_Arena, thanks for your suggestions. For privacy it is good to make use of exchanges that will not require verification while kyc will not be needed. The exchanges you mentioned are the best example to be mentioned. About localbitcoins, it is just p2p exchange, they now require verification, I will still prefer to use binance instead because it also still support p2p.
There are types of trading (margin and future) that you will not have option than to use exchanges like binance.
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Recently the anonymous coins skyrocketed way high, I checked monero price and it has increase up. I was able to check Dash price, it has also increased, in few days ago when these anonymou cryptocurrencies were facing delisting issues, the price of bitcoin and altcoins like ether and litecoin increased significantly but these anonymous coins decreased just slightly little though. But is surprised me to see the Dash I saw at $89 in few days ago at $134 now, the price has significantly increased.
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