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Like what others said, Binance is probably your best bet. If you really don't want to pay any fees besides the transaction fees though, then do it peer-to-peer. Look for people to exchange your bitcoin for monero in various bitcoin forums and social media sites. Obviously this is not an easy solution, but yea.
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Do you mean peer-to-peer or do you really mean OTC? I really doubt OTC platforms accepts physical cash. If you meant P2P, besides using Bitcoin ATMs, you can check out platforms like LocalCryptos and look for sellers in your city. If you cant find any, you can set your own buy offer and wait for a seller to contact you. https://localcryptos.com/Bitcoin/United_States/Cash/Buy |
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So when I send bitcoin from coinbase to kukoin for example to buy altcoin, that address is likely different every time? I honestly didn't check. But what you said makes me more comfortable mk4. I'm not so much worried about privacy as I am for security. So that's good news right there.
Haven't really tried KuCoin for a while so I really don't know, but most exchanges and wallets do change the receive addresses. Though having less privacy is bad, sending funds to a wrong address(effectively losing your funds in the process) is far worse so make sure to double check addresses every time you're sending. Remember, clipboard hijacking malware that's specifically made to steal your coins exists so be wary. |
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If the Paypal service can only be used as a place to buy, store and resell without being able to transfer it to another wallet then I think this service will only increase the number of bitcoin transaction and in my opinion it will not increase the adoption of bitcoin as a global payment system.
Fortunately(and unfortunately), buy and sell transactions will most likely only reside off-chain, hence it wouldn't even increase the number of bitcoin transactions. Disadvantages: Cant be used as a payment system, cant be transferred, high risk to existing account and asset.
..yet. I think it's highly likely that they will allow us to withdraw and spend our coins in the future. For a huge business as PayPal, I'm pretty sure they're totally aware that there's a demand for withdrawing and spending, it's probably just that their platform is not ready yet hence why they haven't released it. |
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mk4, i'm so paranoid i don't click on links at all. like the link you posted i was scared to click on it and so i googled it and looked at search results and from there i went to the site itself lol. this is how paranoid i am about clicking on stuff. that's excellent info on that page thank you! easy breakdown.
Which is good. Trust no one online. Verify everything, even what we say here. jackg said: Your public key and address may be shared but for security and privacy its recommended you don't reuse an address. - my question: from what i wrote in the original post, which ones are considered a "public key". are they the codes i use to send and receive crypto? if it is, that is generated for me when i click on "send" or "request" buttons and i just copy paste from there. so when you say it should not be reused, how do i change it?
Without being too technical, the public key is the "address". Yes, pretty much the string of characters that you hand over if you want to receive money. The string of characters that mostly starts with: - 1xxxxxxxxxxxxxxxxxxxxxxxx
- 3xxxxxxxxxxxxxxxxxxxxxxxx
- bc1xxxxxxxxxxxxxxxxxxxxxx
As for reusing, what wallet do you actually use? Because most wallets nowadays gives you a different address whenever you click on the "receive" button after receiving funds on the past provided address. Also, since most wallets change wallet addresses every time you receive money, old addresses from the same wallet are re-usable; it's just not recommended due to privacy reasons but totally fine in terms of security. |
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I've been following some trading experts from tradingview and their opinions have been conflicting. Some believe it's a gathering time for the ultimate bull run while some have an opinion that the buys and sells are balancing out so we would have a decline.
For me, I sold 100% of my bitcoin holding at an average of 17K and bought back some btc from 25% of that at 18K. Sounds stupid but I don't want to miss out incase of a bull run and would dump if I feel it's crashing.
I'm not suggesting that all of them are bad, but I don't think it's a good idea to listen to "trading experts". But yea, selling is not totally bad. If you're here to make money, then profit is profit. I am a non-trader too, for now. As a personal strategy, I set a line where I am going to sell my bitcoin, I do not mind the FOMO higher price than what I have sold it because I have needs for the money that will benefit me in the long run. I sort of think of it as diversifying my investments.
There's nothing wrong with selling if you actually need to use the money. I'd actually argue that selling right now might be a great idea if you're going to use the money for personal reasons and for starting a business(regardless if you fail, the knowledge and experience is priceless). On the other hand, selling right now just so you could buy yourself unnecessary stuff is a big big NO. |
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Coinbase is much better for storing coins many crypto traders use coinbase but the reason your crypto has been hijacked is because the password is weak and you have shared your private key with someone else this is why your wallet has been hacked. I don't think it's possible to recover but if you keep your confidential information in a safe place and use 2 fa code it keeps it much safer hackers can't hack easily crypto will be much more secure and will not be able to log in knowing confidential information.
People having weak passwords is just one way of their funds getting stolen on exchanges. No matter how secure your password is, if the exchange itself gets hacked, say goodbye to your money. But yea, "Coinbase is much better for storing coins" is hugely debatable. I personally think that if you know how to use a computer, you can also easily educate yourself on how to protect yourself online. On the other hand, for our older folks that don't even know how to use a smartphone, custodial services like Grayscale might be a better idea. |
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to get into my crypto wallet app i have a password, or fingerprint log in option.
The password and fingerprint option is just there for you to be able to unlock the app, and to prevent people that borrow/steal your phone from accessing your wallet. had to write down a bunch of random words or some other weird sequence of things .. for recovery it said.
This is pretty much the main "key". If you give other people access to those 12-24 words, they can steal your money. Make sure to protect it, by not storing the 12-24 words digitally. Instead, write it down on a piece of paper as to virtually make it impossible for hackers to access. is the recovery list of words a crypto version for "forgot password"?
Nope. You lose access to your keys, you lose access to your funds. This is one of the "disadvantages" of Bitcoin; it's the fact that you need to be personally responsible with your security. by the things i read online, it feels like everyone gets their crypto hijacked. like nothing is safe. like one could just do nothing and someone can get into your wallet and/or coinbase for example and steal your stuff. or is this an exception to the rule just like a normal "bank account" could be somehow hacked? it just feels that in the crypto world it happens all the time and any minute.
It does happen a lot, but it's mostly because people are careless as hell. People have been so used to the "forgot password" solution that they don't know how to properly secure their assets. Lastly, check out: https://notyourkeys.org/ |
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Yeap it's pretty much whatever. I'm totally aware that bitcoin can crash back down from here and I'm completely fine with that as I look at it's potential long-term valuation. I personally just continue stacking regardless of price and I personally think people(especially the non-traders) should be doing the same. https://dcabtc.com/ |
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We can't really accurately compare bitcoin to other assets because it's a pretty unique asset. Though we could also compare bitcoin with gold for it's "hedge" characteristic, making assumptions like how bitcoin could grow a lot from here if it actually reaches gold's marketcap.
Personally though? As a person who's totally bullish on bitcoin, I just continue stacking regardless of price as I personally think it could be worth a lot more in the mid-long term future.
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I can not disagree with you but people must realize that there are lost bitcoin and the marketcap they see on coinmarketcap or coingecko or media is not real marketcap. If they know it they will have more in-depth view on marketcap.
Don't worry, I think it's pretty common knowledge that there's a lot of lost bitcoin due to mistakes. And no, the marketcap listed on these sites are technically the "real" marketcap when looking at the total supply as a whole in existence, but not necessarily the supply that people have access to. Even the US Dollar has a marketcap; and we don't take into consideration the US dollar bills that has been torn, damaged, and has been lost in sewers, right? Because there's no way to accurately know how much USDs are out of circulation. |
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The answer: People are buying it.
The law of supply and demand, the sure-fire answer for questions concerning price rises and drops lol(and also my favorite reply as it's technically correct). I just stopped using this answer because I sounded too much like a broken record. |
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The marketcap is reported by those channels is not correct due to the amount of lost bitcoin. We don't know the exact lost bitcoin but the real marketcap would be calculated from real circulating supply. It is smaller than 18,548,306 BTC.
The reason why everyone uses the total circulating supply as a whole without accounting lost bitcoin is simply because there's almost no way for us to know how many bitcoin are actually "lost". It would be a lot more inaccurate for us to throw in numbers that we are unsure of to subtract to the total circulating supply. |
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Bitcoin is probably not "gold". But you can call USDT "gold", you understand why. But to be serious, there are some common features.
? ? ? So USDT, an asset that's pegged to the USD, which decreases a significant percentage in value annually due to inflation, and is actually decreasing a lot more recently due to quantitative easing, for some reason is comparable to gold for you? I don't even see a single similarity in terms of their characteristics at all. |
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I prefer HD wallets, so I'm not likely to use hardware. In addition, this is not the first time I see a negative review for Trezor.
I'm more of a Ledger shill than a Trezor, but let's be honest here. What are the chances that you'd actually not see a single negative review for a product that's used by thousands and thousands of people? Zero. Every single widely used product will have bad reviews regardless how ungodly good that product is. why will anyone want to buy trezor?
Because.. a lot of us value the security of our funds? |
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I'd debate that price increase this fast will cut down on scams. No one is keen to get rid of their bitcoin when the price is soaring, which is really the catalyst for a scam to take place...the hodler has to be willing to give bitcoin to someone for any reason.
It actually makes sense though. The scams mostly advertise that they could multiply the victim's bitcoin by varying percentages, so it would make sense that due to greed from the increasing price and the attractive scam offer, that the victim would attempt to earn more money. History would simply repeat itself just as it did in 2017, with just a different group of people. |
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That's a big NO for me, even though exchange can generate tons of Bitcoin addresses in different users in just an hour. I remember HitBTC exchange, they can generate different Bitcoin addresses as much as you can or generate new address after you have used for privacy purposes. The true indicator of the valid metric has data, graphs, stats, and of course, the right source on it just like what said posted above. I don't know what is the purpose of generating thousands of addresses or it was a coincidence that someone will be trying to manipulate the Bitcoin network for their own purpose IMO. But I really appreciate the report of the glassnode showing the graph of generated addresses. However, whatever it is, still the news is on the positive side of Bitcoin. Regardless if a single person could have created the 25k new Bitcoin addresses(though probably unlikely, because why?), like what stompix said, we could at least make the assumption that there was probably an increase in bitcoin usage. Also, not sure how a person generating thousands of addresses would be him/her trying to "manipulate" the Bitcoin network. Generating addresses doesn't affect the blockchain at all, unless the person is spamming the network by spamming low sat transactions to thousands of addresses. |
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For those who don't get what this means:
In December of 2017 when bitcoin was at it's all time highs at around $19700, the total circulating supply of Bitcoin was just around 16.7 million. Today as we speak, since mining brings more bitcoin to the market, the total circulating supply is around 18.5 million.
Hence, while the peak bitcoin price of 2017 was higher, since the total circulating supply was lower(16.7M), the market cap is also lower.
December 2017 ATH: $19,700 * 16.7 million = $328.9 billion
Today: $17,980 * 18.5 million = $332.6 billion
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5. Bitcoin supply got reduced every four years and 2020 is another fourth year so scarcity is growing
Just to clear things up for potential misunderstandings, Bitcoin's supply per se doesn't get reduced; but it's the bitcoin being "minted" per block is what's getting halved, effectively creating a sort of supply shock when demand increases. |
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