The security aspect. To be able to secure your funds correctly on non-custodial wallets, you'd have to do a good amount of research especially if you're not tech-savvy. And one thing's for sure, the masses don't like doing research. Everyone's simply too used to the email:password with email/SMS 2FA combination. Am I the only one that starts unseeing bitcoin as a medium of exchange?
Bitcoin being really bad as a means of exchange isn't really new when prices are extra volatile, and it really sucks. But that doesn't mean it will stay this way forever. Lightning wallets are getting BETTER by the daily. It's just that we have the chicken and the egg problem. Not much people use Lightning because not much exchanges and services accepts lightning, and vice versa. |
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I'd rather recommend Coinbase to a newbie, at least it has lower fees, market prices and ability to withdraw your coins. The only benefit of PayPal is that it would allow complete beginners to get a psychological feeling of how it is to own Bitcoin, while being in a familiar to them environment.
And I'd personally do the same. But the thing is, A LOT of people already have PayPal accounts to start with; hence they wouldn't even need to do research on what bitcoin exchange to use, create another account on the chosen platform, submit all the AML/KYC, and all that jazz. Convenience is a big factor. |
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Due to liquidity issues(because obviously most people use the 100% centralized ones instead), these so called "DEX"s aren't really the best choices when it comes to day trading. They're decent for mid-long term trading though. |
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Unang una, ang pinaka nagustuhan kong features ng blockchain technology ang offer nito na anonymity, ibig sabihin kapag gagamit ka nito ay maitatago ang iyong identity, kaya anong sense ng mga exchange site na need pa ng KYC and what for we are using btc and it's technology.
Hindi anonymous ang bitcoin though. Once na nagsend ka ng BTC mo sa isang KYC exchange, pretty much affiliated na sayo ung address ginamit mo, and ung previous transactions na ginawa mo. Since obviously, completely public ang ledger ng Bitcoin. |
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It is going to be a really crappy crypto service. Similar to the one Revolut offers - you will be able to buy crypto, hold it in paypal wallet, sell it but you will not be able to send it out freely out of your paypal wallet.
At which.. it's probably safe to assume that it's pretty much a lot of people do when investing in bitcoin. A lot of people buy bitcoin through services like Coinbase, and pretty much just leave the funds there to be able to sell them after some time. Don't get me wrong, it's a bad service in the perspective of a hardcore bitcoiner like me that likes to spend his coins and prefers holding the coins in a non-custodial wallet, but for the masses? It's probably going to be a decent service for them. |
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Why do you even need to force yourself to like Bitcoin? If you don't like it and you don't think that you should support it, then don't! It's as simple as that. There are so much things you can do in our everyday lives that why are you even spending some of your time here on Bitcointalk even if you personally don't like Bitcoin? Get a hobby or something.
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Atska yung iba katulad ng LOCKBOX parang clone na lang ng Ledger, mahirap pagkatiwalaan, medyo nakakatakot gamitin IMO.
Ung Lockbox is a collaboration by Blockchain.com at Ledger, hence bakit re-branded Ledger lang siya. Though as far as I know, ung Lockbox is only useable sa Blockchain.com(hindi ata pwede sa Ledger Live by default as far as I remember). |
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If you're actually having trouble in using the basic functionalities of Electrum, knowing that there are tons of guides and tutorials scattered in the web, then sorry but, but problem here might be you. Probably try doing research rather than having a tantrum on an online forum.
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My question is there any perfect solution put in place fix this problem aside from the lightning network which i don't know much about cause Bitcoin will gain more traffic next year and if nothing is done now it may lead to some turnoff by some investors?
Lightning Network[1]. Test out Phoenix Wallet[2] or Breez Wallet[3]. These 2 are the best lightning wallets in terms of usability in my opinion, that it almost feels like you're just making layer-1 transactions.
[1] https://lightning.network/[2] https://phoenix.acinq.co/[3] https://breez.technology/ |
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I use canva.com for community manager's tasks to create graphics for different platforms (social networks, blog posts, websites,...). It doesn't have a huge library but it may be enough for you. I combine with websites like pixabay, freepik, flaticon, etc to get relevant images +1 for Canva. It was definitely a huge lifesaver when I just started my first online business and I didn't have any money and experience for Adobe Photoshop due to their decent size of free templates. The free variant can be annoying though; imagine needing to have premium just to change the canvas size of a work in progress. Nonetheless, still a really really great service. Just a heads up though, don't get too used to using Canva. After some time, actually try learn to use Adobe Photoshop and Adobe Illustrator due to the bigger number of customization options. |
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If Bitcoin was a scam it would've imploded years ago already. But obviously, it isn't. Hence why it's still standing strong after receiving 11 years of name-calling from ignorant so called "critics". Just humble speculation Let's play out the worse case scenario hope for the best prepare for the worse!
The only thing I'm preparing for is hyperbitcoinization. |
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It's been a long day and I'm quibbling over pennies here but I want to try to understand the transactions that I'm making and the fees that I'm paying and you've managed to clear a lot up for me in one concise post. Thank you! I've just ordered the wallet with next day delivery so no doubt I'll be back asking more stupid questions about the same time tomorrow but tonight I shall sleep a bit easier  Yo, just a heads up that please don't rush things and just take your time into learning into these stuff. We wouldn't want expensive mistakes in this case, as one huge fuck-up could possibly cause you to lose your funds. Definitely don't hesitate to consult Google, or probably ask here, if there are some stuff you're unsure of. Best of luck! |
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So unless I want to do some shady deals that involves black money, there is no good reason for using bitcoin. Apologies for this harsh word! Bitcoin seems good for investment but not for daily expenses!
I get what you're saying, but It's really not as bad as you think it is. I've been using my bitcoin since 2016 to pay for legitimate online services; just because I really dislike PayPal and I'd like to not use their platform as much as possible due to privacy reasons(same with using credit/debit cards). Also, there's something about knowing that you actually have 100% control over your money. PayPal can lock up my funds, same with my bank, but with bitcoin? Nope. Self-sovereignty is something I don't want to get rid of. |
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Assuming that they can receive and send their money quickly and conveniently with ecash, I speculate that they will never care about the difference between centralized and decentralized.
Would this not hurt bitcoin as a currency? Would this not only encourage bitcoin to be used as a speculative investment? How about mainstream adoption? True. But isn't it how it is already? Not sure how this ecash think would hurt bitcoin as it's already the case that a lot of people don't care about bitcoin and prefer using PayPal/online banking/etc because they don't care(and might not even know the difference) between centralized and decentralized. |
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Man, like come on, it's 2020 and we're still talking about this irrelevant dude? It's not like we need extra proof to confirm that he isn't the real Satoshi.
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Here are some choices from decently reputable exchanges that you might want to consider: |
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Hmm.. Are you pretty much just asking us for suggestions on what coins to invest in? Not too subtle.  Anyway, I personally wouldn't suggest investing in any cryptocurrency unless you actually know what they're for. Yes, I wouldn't even suggest bitcoin. Because if a certain person actually does the research and thinks a certain asset in general is a good investment, he/she probably wouldn't need to ask questions about it. Because if you want to be a good investor, you'd need to do your own homework. |
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They also assume it is the only way to reach their goals in life because they heard many people became rich with it.
Well, that's the unfortunate reality of it that's pretty much common wherever you are in this world. The majority unfortunately wants to attain wealth by trying to get-rich-quick instead of working hard for stuff. This is the exact reason why a lot of people buy into bitcoin hype, and immediately becomes impatient and dumps them for a loss if bitcoin didn't rise in price quick enough. |
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Thank you for the helpful advice. For one reason or another, I actually feel less comfortable about having a hard wallet in my house. I think I would actually be quite nervous about it somehow getting lost, stolen or something going wrong with it. With this being the case I assume that it would be cautious enough for me to set up an account at https://wallet.coinbase.com and store my coins here going forward? It's really up to you which risk profile you prefer: 1. With custodial exchanges such as Coinbase, yes, you will be able to access your funds if it's the case that you lost your phone or any of your devices, as long as you have access to your login credentials. The downside though, is that exchanges do get hacked A LOT[1]. Which is definitely not a good option if you're planning on holding your funds for years and years. 2. With a hardware wallet, as long as you don't do anything stupid like save your 24 word backup on an app on your phone or computer(or anywhere in general), the chances of your funds getting stolen are virtually almost zero. Of course, the risk is if you lose access to your hardware wallet and your 24 word backup, you pretty much lost access to your funds. You're going to be fine as long as you protect your backups though. 3. With a reputable software wallet like Electrum[2] and BlueWallet[3], there's a chance that your funds might get stolen if it just so happens that your computer/phone gets compromised by a malware. Also, you lose access to your funds if you lose both your computer/phone and your 12-24 word backup. Completely up to you.
[1] https://cryptosec.info/exchange-hacks/[2] https://electrum.org/[3] https://bluewallet.io/ |
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If I remember correctly some(or most?) wallet software are able to update their software without clearing their user's memory. What was the update about in the first place? If you don't mind probably show us a screenshot.
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