Please help me with my question concerning 2FA. Do you think it's essential security measure, does it work very well? Then Google will have my security code, right? I'm just afraid to do smth wrong like lose password or QR-code or smth and lose my crypto.
No, Google should not have your security code. Actually if you lose your phone and didn't back up properly the seed for the authenticator (when you created/set up the 2FA) you'll probably lose it. This being said there are better alternatives than Google Authenticator, which do the same job but also allows you keep a safe copy somewhere. It works well, but you may have surprises in the future, because the generated code is based on timestamp. And if your phone, the auth app or the website where you try to enter don't have the time set well, the code will not be accepted. (Usually a sync of your phone fixes this). About losing crypto. If you use the 2FA on the same phone as you access the web services, you weaken the security by a great deal and if the phone is lost, stolen or compromised you may lose funds also with 2FA. Imho the main rule is to keep the funds you don't need "now" safely offline on a wallet you and only you control. This means no web wallet, no big money on exchanges, no cloud, desktop or e-mail backup of the seed/private keys (use paper, steel, whatever). And/or make use of hardware wallet.
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it'd be nice to be able to get 100 testnet coins fast.
Being in a pretty bad mood, I'd say "go for it!". I guess that the next step would be to see somebody advertise them as perfectly good Bitcoin. I want to see how mad people will become when a new testnet chain is started, just because "yours" will no longer be the free chain intended for testing. Remember that for testing purpose 0.01BTC works as good as 100BTC, it's not difficult to adjust the code for that, for testing purpose. And if one really wants to play with big amounts, there's always the choice of starting own chain.
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I was suggesting ways he could get Bitcoin if his parents were against the idea. Like you mentioned, the parents have to give their consent for the child to have a bank account or card. Since we don't know, we should ask OP. What do your parents think of the idea of you buying Bitcoin? Would they support and help you purchase some? Whether they are pro or against will greatly affect the options you have. Something tells me they are against the idea, parents usually are. Well, if they are against the idea it may be tough. On the other hand he can make some bargain with them and get to something where he can do whatever with his pocket money as long as it's not a too big amount (where "too big" differs from family to family). And if they make him a card they can at least see what is the money spent onto. Some parents may even encourage investing (no matter it has ROI or not) since on long term makes the child more responsible. Spending on Bitcoin is better than spending on booze ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) What my parents think now it's irrelevant, since I have children of my own. But I can tell that in my high school years my pocket money was fixed and with no questions asked. (But oh, boy, how small the amounts were). Really? I haven't tried using a bitcoin ATM, I really thought that it requires KYC or a valid ID, before you can access the ATM.
You have to check the ATM's website. In my country under certain amount no KYC is necessary. But you have to read also if that amount is per transaction or it somehow adds up during the year.
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Where are you from? Your country probably has local crypto forums where you can make a deal with people face to face. Since you are a minor, you can't have your own credit/debit cards.
You started great, but you didn't continue it well ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Depending on the country and the bank/institution minors can have debit cards; both my bank and Revolut allows that. However, the parents are the ones requesting the card for the child and they can control how much funds are allowed there (which is imho good). But the card is on the minor's name. OP: one step would be to get your parent make you a junior card, then buy with that. If this is not possible, depending on your country, Bitcoin ATMs can be an option. Also in certain countries general purpose utility bills machines may also offer Bitcoin for sale. Here you can use plain cash. In-person I'd go only as 3rd option.
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What the hell is a "partial store of value"?A financial asset IS a store of value,or it isn't.There's no "partial".
This is the way of telling "I was wrong until now, but I will not say it loudly yet" ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Wasn't this ... economist... also calling Bitcoin a shitcoin too? All it took was to have other companies' economists have faith in Bitcoin so this guy can follow them? ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Well, I guess that although some thought that he's a trend setter, he's just part of the institutional herd. Just smart enough to be part of the first wave(s).
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If DeFi projects are basically built on bitcoin blockchian, will the bitcoin tokens still be regarded as altcoins? In my opinion, although they will be called bitcoin tokens and they will be bitcoin DeFI projects but such tokens will still be regarded as altcoins.
There are already token on Bitcoin blockchain, isn't it? Counterparty and its tokens are on Bitcoin blockchain. They are already regarded as altcoins. Do you honestly think that if DeFi pollution comes over those tokens will be seen as something ... better... just because they'd be on Bitcoin blockchain?!
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But this time retail investors aren't coming en masse, so there's a scenario where a new ATH won't come. I can totally imagine guys from Microstrategy selling all their coins at $18k, because getting 80% profit in a few months is already crazy good. Institutional investors, unlike many retail investors, who are often noobs, understand that this market is prone to bubbles, so it's important to take profit fast, before the bubble has popped.
They will come. Retail "investors" coming "en masse" will happen when the FOMO sentiment will be more powerful. A little more continuous growth and that may happen (again). Also you seem to have forgotten PayPal, which allows in US to "buy Bitcoin" and will do the same in a couple of months for the rest of the world. I know it's only IOUs actually, but it will bring Bitcoin to the masses. I think that we are on the right track and all we need now is a little more patience.
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Never fear, we, youngsters, are aware of hardware wallets that can be connected to Android mobiles. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Perfect! I still find useful to say this whenever possible because many (especially youngsters, I think) may not use hardware wallets "because they're expensive" (and they actually are not). And there was (is) no mention of the topic that on Android the use of HW is necessary (maybe it's not a bad idea to add it even now).
Android security is .. weak.
That's a bold statement. One could argue that android is by far more secure than a windows computer. Android uses the linux kernel and user roles as a security concept where the end-user doesn't have root privileges. On windows, the user (and the malware he installs) can do anything. I'd always choose an updated android device over an updated windows computer. The comparison with Windows is accurate. However the statistics tell that overall you are wrong. You inserted an interesting keyword: " updated android". Well, this is the part with problems. Most Android phones in use are outdated. Many of them badly. Yes, the youngsters "get newest phones" ... in theory (not always happens either). I can't argue they may change them more often than I do. However, most don't change the phone every 8-12 months. And most manufacturers don't care to make updates to the older phones. Before 8-12 months one can say his Android is up to date. After that period he may be pretty much wrong. (I may not be very accurate on the time period, however I should not be too far either, and I think that I was clear.).
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Let's assume that it's like this article says and this rally is institutionally-driven. Indeed, there are pretty clear signals about institutional investors getting big into Bitcoin. But I also somehow doubt that the institutional investors are playing with the markets during the week-end. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) So it's not only institutional investors there, that's clear. Bitcoin went to 20k before and institutional investors were much fewer back then (I think). What does it mean for Bitcoin? Will this bring us to some very high price levels, like hundreds of thousands, or are these experienced investors going to take the profits rather soon and crash the rally at barely establishing the new ATH, or in worst case, we won't even cross $20k. Can you say that institutional investors trade significantly differently from retail investors on a volatile and speculative market?
As I said, 20k was reached with less institutional investors. Now, with them present, a new ATH is a matter of time. I won't say how bit it'll be, but it may be really big. Just keep something also in mind: institutional investor may also become very big speculators and may play (us) big with price ups and downs. But since this has also happened already without them I'd say I don't expect anything different on short-medium term. The only difference I expect is on long term and that should be much higher level of price and much lower price volatility.
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Android specific wallets
Interesting list at first glance, but on a second thought, ... hmmm. I mean that I would not keep more than 100$ worth of funds on any Android wallet, no matter how legit it is and how reproducible the build is; Android security is .. weak. OK, a legit and maybe reproducible Android wallet is necessary, but not enough (imho). If one uses Android a lot for Bitcoin transfers, I'd say that a proper hardware wallet is a must. I think that this is actually one important use case for hardware wallets (and not holding, as many use them for).
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he should also backup xprv, I guess.
It will be a little bit complicated if he wants to keep it "safe for many years on metal plate" IMO since xprv keys are very long and non-resistant to wrong and missing characters as mnemonic seeds are. In this case I think it would be more convenient and sustainable to download bitcoin core and to use its crappy non-mnemonic WIF formatted seed, at least the string is (much) shorter ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) Indeed. I also said there "he can use whichever he finds more suitable". Again, my primary suggestion was generating a seed with Ian Coleman's tool, so he is not restricted to Electrum only. The part you're commenting on is only an acknowledge that under certain circumstances/constraints (i.e. he will also backup xprv, or he will be careful he has a verified Electrum "at hand" no matter what) using Electrum's seed alone could be an option. If the user indeed wants to keep it on steel (he may think twice after reading about the costs, for example), then he will obviously not go onto this path. Maybe I was too short and maybe this was not clear from start because it was a follow up and you didn't read all my posts in this thread. (No offense intended, it can happen.) I hope it's clearer now.
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OP, is this a transaction you've sent or it's one you were expecting? Because if it's one you've expecting then maybe the sender has replaced it with a transaction towards another address and you'll receive nothing. (you'll have to read about RBF, double spend, wait for at least one confirmation when trading).
PS. I've got in the last 12h a transaction confirmed with 2 sat/vbyte, so the fees are indeed low again
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Is Raspberry Pi Zero W good enough? Should I get something bigger/better? I keep doing research and I find myself running around in circles. No advice of any kind? ![Sad](https://bitcointalk.org/Smileys/default/sad.gif)
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you can easily export your extended key from Electrum (the xprv) and import that in any wallet.
Never did that, but indeed, this can be a good point. Still a bit advanced, however it can be a proper option. Just then the user (OP) has to be warned that Electrum seed may not work in another wallets (without extra processing) and that he should also backup xprv, I guess. Then there are 2 working directions, he can use whichever he finds more suitable.
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If it were me, I'd probably use both. Download Ian Coleman and Electrum, verify them both, and transfer them to my airgapped computer. Use Ian Coleman to create a seed phrase, make a note of the master public key and the first address, restore the seed phrase in Electrum, and check the first address matches. Yep, I agree, this is the best way to move forward. Before having hardware wallet, this is also what I've done to have the peace of mind everything is correct. for starters it is written in JavaScript and runs inside your browser. it can never be as secure as a stand-alone desktop application such as Electrum that is also written in python. additionally you need more features such as signing transactions when you want to spend coins, etc. so you need to have a wallet anyways. only focusing on one thing (Electrum) is better than having two different software, one to create the mnemonic and another to create the wallet.
besides Electrum mnemonic algorithm is not complicated at all, you can always reproduce it if you needed. and if you want to migrate to another wallet other than Electrum you must always send the coins to a new wallet created by that new software instead of importing the seed into it.
I find this a strange mix-up. You first want to make it easy to install and handle, but later on you seem to forget that not everybody has programming skills. But maybe I missed something. However, Electrum is indeed the easy way to go, but if this seed is used, one may get a huge surprise at a later point if he tries to use something different. So.. I still stick to my point: generate with Ian Coleman's scripts. Then, for checking it out or for easy later us if necessary, yes, Electrum (with imported seed) is the best option (until the user learns about CJ or LN, if ever).
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Is it because the Trump people have given up?
Is it because the Biden people are relaxing after what they think is a win?
One idea would be that the speculators may have used the elections "uncertainty" to play a pump and dump game and now, since the winner was announced, they "sell the news". But I am not convinced that this is the entire story (since the world is bigger than USA) and some buyers just noticed the new opportunity. We'll need more time to be sure what we have here. And week-end markets are sometimes strange/unusual. I had hoped Bitcoin would actually make it to $20,000 this time! ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) Come on, that was a bit too high expectation ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) It'll get there, but we need more patience.
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Download electrum , make sure you verify ~snip~ Create a wallet. ~snip~ Write down the seed in a paper Wasn't Electrum seed work only with Electrum? Why not download Ian Coleman git source code and run that for the seed? ( https://github.com/iancoleman/bip39 ) That will work in Electrum and other current or future HD wallets too.
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please say something will make me feel better dammitt
This being said I won't criticize your choice ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) , you've done that already. Take it as a lesson. An expensive one, maybe, still a lesson. You have to use your mind when trading. You have to follow the basic rules no matter what. And obviously you have to understand that trading means you can lose too, not always gain. Find a good way to minimize the loses and think seriously if trading is for you or holding suits you better.
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I have read enough bad reviews about revo*lut that I decide to not try to use their platform. It's very frustrating get money stuck with no more info, and we are talking about a big amount in your case. btw, you were lucky to get back at least a part of your funds, thanks for share this update after 7 months! ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) I use Revo for almost 2 years, but I've already learned from other (more or less) similar platform(s) to not keep too much money on them. I've never lost any, but I've read a lot of horror stories on the internet. They do have odd policies you may not read or may not understand, there are a lot of automated operations (AI doing checks) there and very small amount of actual personnel (how else would they keep fees low?) . Obviously this means that when a problem happens they are unresponsive and rather opaque. Of course, I also expect that in many cases the ones crying they've lost money may have telling only half of the story. Clearly I don't want to minimize how bad this is. Instead I want to increase awareness to not keep big money on this kind of platforms. Better safe than sorry. Also, what's the point of keeping money as fiat in the custody of rather shady businesses instead of having Bitcoin in the own private wallet?!
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Instead of the typical recommendations like Electrum, Mycelium, Blockstream Green, BRD, etc? Is it still "risky" at this stage?
I also think that the "risky" at this stage still fits well. Also .. isn't Electrum also offer LN too (I didn't try that though). But when I've read I was thinking "why is he concerned about LN yet and not about privacy wallets?" A thought would be that maybe we should start suggesting wallets like .. Wasabi?
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