Hi guys I know this might sound like a newbie question, but Ive not had enough bitcoin to think about putting any in cold storage since Cryptsy ripped me off when they went down  But just lately ive built myself back up a bit, and just need to check my understanding of a creating a cold wallet is correct ? This is what I think was the best way but im not sure  1. Download latest BTC client 2. move to a pc not connected to the internet. 3. Create an address on that PC without internet. 4. Send fund to address created on PC with no internet access. 5. Save keys in safe place  Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ? Sorry if my question has been covered many times, but I just don't want to make a big mistake. Thanks Rick There are bitcoin wallets, both that comes in software and hardware variations which provides their own advantages and disadvantages. Trezor and Exodus are very cheap wallets that doesn't need registration or verification so anonymity is never an issue. But your investments are pretty much gone forever if you forgot your credentials. We have different wallets that we cant use. And the best way to store our bitcoin was put it there. What we need to do to become our bitcoin safe was never forget our private keys or anything that was connected to our wallet so that we can easily recover it. The safety of our bitcoin was depends on us on how careful we are on things like this. There are bitcoin wallets, both that comes in software and hardware variations which provides their own advantages and disadvantages. Trezor and Exodus are very cheap wallets that doesn't need registration or verification so anonymity is never an issue. But your investments are pretty much gone forever if you forgot your credentials. |
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Sometimes i read stuff in this forum, so ridiculous but completely wrong, what so many people think, because they simply have a very small portion of awareness how the world works and only do quick assumptions on few information
Thinking Bitcoin will help developing Countries is absolutely wrong, situation for developing countries might even get worse.
firstly: mining Bitcoin is happening mostly in developd countries and in developing countries where there are already electricity shortages the mining of bitcoin makes it even worse, leading to higher expenses for electricity which is needed there for educating children, or building schools.
secondly:
Bitcoin increases costs for electricity in the developed world which then makes prices higher for the industrial production of investment goods like machines for farming and many moore, which the people in the developing countries need to develop their country.
thirdly:
Bitcoin changes what the youth in the developed world is doing where bitcoin and cryptocurrencies are more likely to be created mined and earned towards not developing poor countries but now towards fullfilling the greed of those that are running the mining and crypto infrastructure.
Lambo memes are a very good example of that. it represents the greed the pump and dump schemes
and much more.
these crazy falacities come from a curse of life, which comes from the need to do decisions and asumptions based on very few information.
but you know what the biggest joke of all this is?
the people in the developing countries can't do anything about that, they have to accept that.
regards
That's the reaskn why some third- world countries ban the operation of bitcoin in their country specifically bitcoin mining. I don't see actually why they do so because mining isn't a very rewarding method to earn after all, there are other ways to earn bitcoin's which are relatively easier to do and are cheaper unlike mining which is very expensive and complex for the common people to do. |
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I was just so curios since i am new also with cryptocurrency and i wonder as i read too many threads about getting good rewards from bounty campaigns like signature campaigns that receive BTC weekly or monthly and as i checked bitcoin market price today relatively so expensive. Many are great these are with the accordance basing on what i have read. Well maybe those people are fraud as i had began to join this system i dont feel there is great in it like getting a good reward instead i feel that this is just like a work that you need to perform in order for you to gain. Is there any fast and easy money here in cryptocurrency?
The common misconception a newbie has over cryptocurrency investment is that cryptocurrency investing means easy money. To which I oppose because you have to be patient and supportive of the coin you invested on to gain desirable amounts of profits. Without these two things, you wouldn't gain anything in this industry. To sum it all up, crypyocurrency investment is just like any other job out there where you need to put effort to gain rewards. |
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It is not a hidden fact from us investors and enthusiasts that the ever-changing tides of the market makes it hard for some coins to thrive. I think it is just fine as incompetent and dying cryptocurrencies will give way for better cryptos to come. If this does happen to bitcoin, which is not impossible considering how mediocre at best the said cryptocurrency is. This would mean that a better crypyocurremcy would be up for the rise. At first this may seem scary but in a few months or years people will see the difference.
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All those FUDsters that where saying year ago how Bitcoin would fail because another currency would take over get proven wrong year after year. The more time Bticoin is alive, the stronger it gets and the bigger the network effect. Sorry but there will not be a Bitcoin 2.0. Bitcoin will go to 100k+ per coin in the next 5 to 10 years, it will absorb all the value researched in the field if not directly through protocol improvements then through sidechains.
Bitcoin will remain the only solid coin. The only coin that survived for the longest time (other coins can't claim this unless they invent a time machine).
There will be alts that pump really hard and make people millionaires, but no alt is going to surpass Bitcoin's strength and solidity. No coin will get a bigger marketcap. In the long term people holding 21+ BTC will be rewarded by history with rich-tier status for seeing the value in it before most people did. Do not let the FUDsters trick your mind or the trolls try to derrail the excellent job being done by Core devs.
Let's continue then our path towards inevitable triumph.
If this does happens then thank developers, for they are the ones that did an awesome job updating bitcoin every so often to provide us users and investors the best and nothing but the best services. However, even if bitcoin seems to be rooted i the number one spot, if a better cryptocurrency comes along and is given enough crowdfunding, then there will be a competition for bitcoin, so you shouldn't rest easy knowing that any day, the coin that could equal bitcoin may rise. |
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Bitcoin is the leading coin of the market. What you think about the future of bitcoin and others coin?
As of now bitcoin remains in the top number 1 of the market. And it has been like this for a good number of years. Almost seemingly it has been rupted to its spot because none if the existing crypyocurrencies right now could equal the said coin. However, there are still lots of possibilities in this industry. There could be a big coin on the rise which would be able to overthrow bitcoin for all we know. We just have to stay faithful and supportive in the industry. |
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Hi guys I know this might sound like a newbie question, but Ive not had enough bitcoin to think about putting any in cold storage since Cryptsy ripped me off when they went down But just lately ive built myself back up a bit, and just need to check my understanding of a creating a cold wallet is correct ? This is what I think was the best way but im not sure 1. Download latest BTC client 2. move to a pc not connected to the internet. 3. Create an address on that PC without internet. 4. Send fund to address created on PC with no internet access. 5. Save keys in safe place Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ? Sorry if my question has been covered many times, but I just don't want to make a big mistake. Thanks Rick Best cryptocurrency wallets that are available are of the hardware variety. They provide maximum protection as they are most of the time encrypted in your hard disk. Ledger Nano S is one of the big names when it comes to securing coins via hardware wallets as it is very efficient and reliable. And, on top of that, cheap. Which makes it a very big option for when you choose to buy a wallet. |
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I am wondering if there's a huge probability of bitcoin investing will become a company's focus. Like making a company that specializes investing of bitcoins Any thoughts? It wouldn't be possible for a private company to focus on bitcoin investments. A lot of issue will arise atop the fact that they wouldn't get anything in return because of bitcoin's decentralized nature. Some of these issues include transparency, which will become a big problem as transparency is what a lot of people in the investment world seek for in an investment firm. |
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Legendary investor Tim Draper is confident that in five years all will use crypto currency. According to Draper, the technological shift that we can observe now will be more significant than the transition from the Stone Age to the Bronze Age. Answering the question about how he sees the current situation in comparison with the period when he invested in the technologies of web 1.0 and 2.0, he replied that web technologies and transformed the concept of information, while blocking has the potential to transform almost all industries, including government services.
Considering how rampant and well-known cryptocurrencies such as bitcoin and ethereum, the ones that were the most established, It is not impossible that cryptocurrencies could soon become big and would be able to extend its reach to the whole world. And as years go by, this becomes more and more possible because of the developments they implement on each of their respective coins. So this might be possible, but we have to stay down and alert to ensure our own investments' security. |
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In times of volatility and uncertainty, investors tend to favor one particular crypto that has high liquidity and is stable. At the current time, Bitcoin price trend still dominates the market trend.
However, Bitcoin leading position seems to be doubtable as Altcoins have recorded a stronger rise recently and the market is less affected by Bitcoin. Instead of following the general price trend of bitcoin, many cryptocurrencies also start to follow their own “trajectory”.
This week, the altcoin works much better than both Bitcoin and Ethereum. The added value of the ERC20 tokens and the increasing demand for small cryptocurrencies of investors in the global market has proved that Crypto investors are more confident in betting their money on this market.
Saxo Investment Bank from Danish, with its aim to focus on online trading and investment, has announced in a recent report that the capital inflows from organizations to the Crypto market will lead to a rise in prices for most of these currencies.
It's still too early to claim things. Bitcoin as of now is an average coin with a very big user base making it one of the biggest established coins up to date. On the other hand, some altcoins are better than bitcoin. However, not all of them are crowdfunded and some, unfortunately even die because of poor crowdfunding. The altcoin industry is a survival of the fittest environment. If your altcoin is mediocre, don't expect to become big. Maybe in the future there will be an established coin from the altcoin industry, the possibilities are endless. |
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The cause maybe with the Announcement pf investigations with insider trading on some big exchanges. Whales maybe cashing out, and it causes price dump. In addition there is also a hacking incident on big exchanges, an asian whale who is moving his BTC to houbi and so forth. So much FUD maybe.
Same news i have read yesterday, the whales or institutional investors are trying to pulling off and controlling the price of bitcoin just by cashing out so the price will vary as the effect. As far as i know whales do have the 30% of the circulating supply of bitcoin and so does they handle a large portion of the bitcoin's price. |
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Legendary investor Tim Draper is confident that in five years all will use crypto currency. According to Draper, the technological shift that we can observe now will be more significant than the transition from the Stone Age to the Bronze Age. Answering the question about how he sees the current situation in comparison with the period when he invested in the technologies of web 1.0 and 2.0, he replied that web technologies and transformed the concept of information, while blocking has the potential to transform almost all industries, including government services.
With the amount of progress technology has gone and the rare at which it improves, surely cryptocurrency would also be affected. A change in the system or the fubctions inside the industry might happen, and also the possibility that cryptocurrency would be accepted everywhere on the globe. The list is endless, but we have to incline our predictions to experts like Tim Draper or at the very least, compare. |
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The scammers and crooks finally won! Congratulations because even your fiat will be near worthless at some point too! The economic freedom of the people is once again destroyed by the animalia raised by bad handlers.
To the "Lending" companies (hey man, do you think I can get my money back soon), I salute you.
To Bitmain and "the plan", I salute you.
To Wall Street who always knows my future, I salute you.
To the newbie crypto-millionaires, who only like the part about making easy money, I salute you.
To the lower middle-class who borrowed all the equity in their homes to buy crypto and told everyone about it, I salute you.
To the SEC who will wait until every crypto is worthless to go after anyone, I salute you.
To the old school crypto nerds, who cashed out in 2017 when they saw what was coming, great job!
I still remember the days when getting anything over a 1% yield on a bank account was something to brag about.
One day I will tell my grand kids about the time in 2017 when everyone except politicians were happy and it was a joy to work at any job because you had real money that actually could make you more real money. Time to find the next bubble...
If you would only focus on the upsides, than the negatives this year. You wouldn't feel the need to even make this thread. The lack of evidence of people like you who tells everyone bitcoin would be dead in the near future or so makes me want to invest more in this cryptocurrency. Bitcoin is an established coin, and it will not be held down by petty issues made by petty people. Have some trust on bitcoin. Only then you would be able to see the reason why there still are many people that invests in this coin. |
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Blockchain Technology was driven to fame by its application on Bitcoin Gold due to its encryption that has been considered hacker proof. Bitcoin has been used as a reference to its success, providing a secure network for users.
The question however is, can blockchain succeed without bitcoin?
Blockchain technology could be implemented and be used in every technology that requires the security of the user's identity. Which means bitcoin can be used in technologies like banking, especially the online banking variant, and even on social media sites like facebook and twitter. Pretty much blockchain is versatile enough to stand alone even if bitcoin is not invented in the first place. |
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I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes) and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.
Just because bitcoin is being abused by criminal organizations does not mean that bitcoin is nothing now but a criminal's gold. The anonymity and privacy bitcoin provided over its users became a great way for criminals to carry on their transactions. BUT I don't think bitcoin has now became a bad cryptocurrency. To be honest Conventional Currency has been used more in criminality than bitcoin is. |
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I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes) and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.
This is true. Bitcoin is indeed being abused by criminal entities and societies but I don't think that it is a criteria for deeming bitcoin a bad cryptocurrency. These criminal institution found a way to transact where they wouldn't have to mind getting tracked by the police with bitcoin and they seized it. As a matter of fact Fiat money is much more involved in criminality than bitcoin and cryptocurrency itself. |
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I'm not referring to the price of Bitcoin (we all know it's going to be $250,000/coin by 2022), but the goal that it would be a legitimate alternative to inflationary government fiat currencies. When the altcoin market is examined, it is inextricably linked to the price of Bitcoin. Where Bitcoin goes, so does the rest of the cryptocurrencies. There's even somewhat of a dismissive attitude toward other crytpos in some investment circles; strangely this was a similar sentiment held by those "respectable" investors when Bitcoin was in its infancy.
What do you think? I'd love to hear from some crytpo veterans.
I think this goal has already been reached as you say. But there is an even greater goal that us investors of bitcoin wanted, and that is global acceptance. We want bitcoin to be globally accepted and be operated fully in all countries across the globe with an access to an internet. Another is becoming an official currency, which seems to be a far fetched dream as of now. |
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Bitcoin is indeed risky. But bank investments are risky too. In our country (coz I'm not sure if this exist in other countries). When you have a large amount on your account they will call you and ask you if you want to invest, minimum of 20,000 Php (or 400 USD). They will propose some investment plans where there is a choice of low, medium, or high risk investment. When you choose the high risk there is a chance to lose or gain 100% of your investment (Medium is 75% and low is 50% if I remember it right). It doesn't make sense to me, it sounds like a scam, they will invest using your money and you don't have any control to it. That is why I like bitcoin more, coz Though it is risky and it's very volatile, you have full control on your investment.
What do you guys think?
Bitcoin as we all know is full of risks, compared to bank investment which has little to no risks over your investment. But the profit one could gain from investing to bitcoin is far more greater to the potential profits one could gain from investing in a bank. In banks there are a very low amount of interest and gains that you could get but your money is safe from price decreases and unexpected drops, while in bitcoin the gains are very high and so are the risks. |
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As Bitcoin mining is partially controlled by Chinese miners, I have a feeling that sometime in the near future, Bitcoin can become centralized if no solution against this is proposed. If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years. As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day. Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for. Bitcoin will become centralized in the future? I think it would not be happen because bitcoin is already decentralized and this is created in full with a decentralized system. I don't think so. There are certain factors as to why people would not like bitcoin to be centralized. Becoming centralized means that now a certain someone could control bitcoin. And if this person isn't as benevolent as what we think he is, then it would be our death because it is sure that he/she would use bitcoin for his/her personal gains. Making bitcoin a scam later on. |
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I think that bitcoin will never become centralized. This is contrary to its very essence. But even if this happens for some reason, many will give up bitcoin and give preference to another currency.
all these things can happen, but we also never know how bitcoin development is going forward. sometimes it can be centralized and sometimes not, it all depends on the development of bitcoin that has been or is running for this. I don't think this would even come to the minds of the developers. Bitcoin aims to have a global reach. And with this, bitcoin is made to be a decentralized cryptocurrency to make it more efficient. If it were to become centralized in the future then the benefits would only come to the locality to which it was based and the investments of all people who are outside the vicinity would lose meaning. |
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