Bitcoin Forum
May 26, 2024, 11:00:37 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1] 2 3 4 »
1  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Selling Altcoins for BTC on: May 24, 2023, 12:56:08 PM
Thank you all for your input. I had in mind that alts normally move faster and harder when it’s their time to move but since I’ve turned maxi, I may just flip it into btc and call it a night. It would require predicting the future and timing the market by waiting to convert later. Hell, might end up with less. While btc is also still at a discount, I might as well get it now regardless of what Eth does. Long term (which I plan on holding for) BTC fundamentals wins.
2  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Selling Altcoins for BTC on: May 24, 2023, 12:48:00 PM
If you are seeing the current market conditions then you can face loss but having long term approach and faith in btc could recover you from these loss so you can invest in it.But if you get panicked with next dump also even after swapping then you would be at loss again.You are seeing that prices are down now but treat this as an opportunity to get at discounted rates.
Yea, I planned to swap into BTC and hold for the next 20-25 years. I have a stacking goal.
3  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Selling Altcoins for BTC on: May 24, 2023, 12:54:11 AM
My issue is that, If I did that right now, I'd sell at a 50% loss. The counter to that is that if im swapping for BTC, the btc price is also down, so.....

CMC stats explains that as of today the price of bitcoin against USD has decreased by 60% from ATH, and etherum is 62%, and this is the realization of your loss if you exchange to fiat or a stable coin.
I don't know the 50% loss you'll get by exchanging the two assets, did you mean the swap fee? Since ETH volatility tends to always follow BTC, I think your loss is only in the range of 2 to 7% if you look at the price history between june-july '21. Or you're willing to write down the details of your calculations.
No, I kind of came to the same conclusion you did with the 2 to 7%. When I was buying Eth, both Eth and BTC were up, but they are both down. If I waited until Eth was up, it would be more than likely that BTC would also be up since BTC moves first, so at this point, it probably doesnt matter too much to make a huge difference. With Linear thinking, Eth would be back up to $4500-$5000 and BTC would stay the same. lol, not happening.
4  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Selling Altcoins for BTC on: May 23, 2023, 11:50:45 PM
I would suggest you head over to Tradingview and first have a look at the ETH/BTC chart so that you can make an informed decision on when you would want to sell the ETH for BTC
Look at the higher time frames. Bitcoin usually does better at the beginning of the bull run before ETH takes over later.

I would like to know, in which platform is your ETH staked?
I was staked at lido using ledger
5  Alternate cryptocurrencies / Speculation (Altcoins) / Selling Altcoins for BTC on: May 23, 2023, 09:33:09 PM
In mid to late 2021, I was new to this space and went thru the altcoin phase. I staked my Ethereum and just now was able to unstake. I have been bitcoin only for at least the past year ( I learned). My first instinct was to unstake the ether and swap for BTC. My issue is that, If I did that right now, I'd sell at a 50% loss. The counter to that is that if im swapping for BTC, the btc price is also down, so..... If I wait till its up, its likely that BTC will be up too. I have this back and forth battle going on mentally of weather I should just sell now or wait. I dont want this J.P. Morgan owned mess, but I dont want to sell at such a loss. I just wanted some opinions.
6  Economy / Trading Discussion / Re: Best Place to buy Physical Gold on: May 11, 2023, 12:29:27 AM
Thanks all for your input. I think Im going to hold off buying gold, but when I do, I will find somewhere local that i can purchase bars or coins in person. Thanks again.
7  Economy / Trading Discussion / Re: Best Place to buy Physical Gold on: May 10, 2023, 08:42:14 PM
For your privacy and safety reasons, it is better to buy gold bars on physical stores. We may not be from the same country, so my answers may also not be accurate if I give some locations of where you can buy it.

There are tokenized gold. The one that I know of is PAXG. It has a marketcap of $534,238,220 and a good trading volume. Maybe you can buy some of this also. If you have high amount of money, I will recommend you to buy real gold and little of this tokenized gold.
PAXG huh? Something else to research. I would initially be concerned about the peg and the longevity of the Paxos company. It is pegged to gold and represents gold ownership........Till its not. I'll have to research. Buying physical gold sounds like a pain in the butt, and we cant trust paper gold ownership (ETF's, Certificates etc). Sigh, I figure something out. Thanks all.
8  Economy / Trading Discussion / Re: Best Place to buy Physical Gold on: May 10, 2023, 04:56:43 AM
I know this is an awful place to ask this question but please know that I am also bitcoin holder. Do any of you buy physical gold where they ship it to you and if so from where? Just throw me a link to the spot and I'll do my research from there. There just seems to be alot of places to choose from and not all can be trusted.
Dear op, i never bought gold online, and never hope to get it via any courier or shipment but my advice for you is to go physically in the shop and buy gold physically.

Because, if you would try to buy online you could easily be scammed but if you buy it physically then you can check the purity of it, if you are buying gold for the very first time then, you should go with someone expert or atleast with those who bought few times.

If you found not experienced companion then you should check for various tips like "things to keep in mind while buying gold" or "tips to buy gold" etc. etc. Once you started to search out you will find more interesting facts about it, and again i suggest you to buy gold from physical store, not from online store.
Thanks very much. I will do more research and look for a local dealer or refinery
9  Economy / Trading Discussion / Best Place to buy Physical Gold on: May 10, 2023, 03:12:19 AM
I know this is an awful place to ask this question but please know that I am also bitcoin holder. Do any of you buy physical gold where they ship it to you and if so from where? Just throw me a link to the spot and I'll do my research from there. There just seems to be alot of places to choose from and not all can be trusted.
10  Bitcoin / Hardware wallets / Re: What is up with the Cold Card? on: December 28, 2022, 04:11:52 AM
I actually havent made a decision and the reason I am asking here. I am actually leaning against getting one. Im not solely relying on this forum and what people say on youtube. I'm asking for OPINIONS and differences here.As far as crap talked, I already own a ledger and trezor, so that point is mute. I just asked for opinions about the cold card and what could be better or worse than the two I already own. What makes it better or worse in your opinion? I am also researching other areas etc. I am familiar with what I SHOULDNT DO.

I've been enjoying the ColdCard, and I wouldn't hesitate to recommend one.  The price being roughly twice that of a Trezor One requires an assessment of the ColdCards additional features, and determining if they're worth the value.  That's really a personal decision.  As for an air-gapped hardware wallet, it's been working great for me and I've gotten some use out of the additional seed and private key features.  It's really quite a sophisticated device, despite having some real world flaws.

And you should take the debate about the licensing with a grain of salt as well.  The source code is transparent and available for review, but the licensing prohibits others from profiting from it or using it in a competing device, hence "not open-source."

I've used a few brands of hardware wallets, including both models offered by Trezor, and so far I have to say the ColdCard is my favorite.  I did receive a Foundation Passport a few days ago, but I haven't fired it up yet.  I wouldn't be surprised if the Passport becomes my new favorite, but again one needs to evaluate the value of any wallet he chooses.  My problem is that I have the "collecting" bug, so the more the merrier.  Undecided

Thanks a bunch
11  Bitcoin / Hardware wallets / Re: What is up with the Cold Card? on: December 26, 2022, 03:15:51 PM
Cool. If that’s all I need to power it than I should be good. We will just trial and error with cables I guess. Just trying to justify why I need one. I hear crap talked about ledger and a WHOLE bunch crap talked about trezor. I know that cold card is very advanced bitcoin only device. I just don’t know how it’s advanced or better. As far as what the $147 comes with so I just emailed coinkite to make sure.
You shouldn't decide based on 'amount of crap told online'; read what people are actually criticizing and make a judgement, whether they are honest, truthful, justified.
No one device is perfect; ColdCard isn't, either. For example, they pulled out of the open-source community, so nobody is legally allowed to use their code anymore, and some features are unnecessary attack surfaces (NFC, and the ability to enable USB data transfer), as well as lacking a camera that would allow you to securely use it with a phone.
I do find Trezor Model One good value and quality for its price, and on the upper part of the price bracket I like my Passports.

But please read actual reviews and don't base your opinion on 'crap talked'.

I actually havent made a decision and the reason I am asking here. I am actually leaning against getting one. Im not solely relying on this forum and what people say on youtube. I'm asking for OPINIONS and differences here.As far as crap talked, I already own a ledger and trezor, so that point is mute. I just asked for opinions about the cold card and what could be better or worse than the two I already own. What makes it better or worse in your opinion? I am also researching other areas etc. I am familiar with what I SHOULDNT DO.



Thanks all for your insight. Im going to just move on and stick with what I have already. There does not seem to be such a huge benefit to owning one vs the headache and price point. I may or may not revisit it later.
12  Bitcoin / Hardware wallets / Re: What is up with the Cold Card? on: December 25, 2022, 11:49:55 PM

 I know that cold card is very advanced bitcoin only device. I just don’t know how it’s advanced or better.

The coldcard has a very basic but therefore well done code. This makes it very hard to exploit, but also there is no support for many features that other wallets may have. Especially it is missing the altcoin support and it is just a simple OLED display. Still it gets the job done very well which is the most important feature to me.

I have a response from coinkite. They said:

 Hi Danny,

Happy to help! The Mk4 comes as a stand alone unit. You can purchase the power-only usb-c cable, micro SD, and 9V batter adapter from our website but they are all sold separately. If you have any further questions, feel free to ask.

Best regards, 
13  Bitcoin / Hardware wallets / Re: What is up with the Cold Card? on: December 25, 2022, 03:38:51 AM
The cables that get shipped together with mobile phones and are part of the package allow you to charge your phone and also to transfer data to/from it. So, they aren't usually charge-only type of cables. The power-only cables don't have the necessary pins to transfer data, and that's the type of cable that Coinkite sells. Your phone's cable most probably does. Someone paranoid about their security would prefer a cable that doesn't have data transfer pins.   

Yes, but my point is that you can just use a phone charger or a power bank to power the coldcard. There is no need to ever plug in the coldcard into your computer. Still it is nice that they offer this kind of cable for sale, as some users may have a use case for it.

Cool. If that’s all I need to power it than I should be good. We will just trial and error with cables I guess. Just trying to justify why I need one. I hear crap talked about ledger and a WHOLE bunch crap talked about trezor. I know that cold card is very advanced bitcoin only device. I just don’t know how it’s advanced or better. As far as what the $147 comes with so I just emailed coinkite to make sure.
14  Bitcoin / Hardware wallets / Re: What is up with the Cold Card? on: December 18, 2022, 02:24:20 PM
Forum Member DireWolfM14 has done a very good review on the Mk4 ColdCard.
If you have a look through the OP and some of the discussion, you should get most of your answers.
Personally I’ve never used one , but good luck .
Hope this helps  Smiley

https://bitcointalk.org/index.php?topic=5405919.20


Thanks so much. Helped a lot.
15  Bitcoin / Hardware wallets / What is up with the Cold Card? on: December 18, 2022, 01:59:49 AM
Can anyone tell me what the difference is between the cold card and other air gapped devices. I dont really get it. It has a secure element just like some others. I have currently a trezor and a ledger where I am considering a cold card, but dont understand why owning one is better than the other two. Secondly, When you go to the coinkite store to purchase 1 cold card, does it come with the cable, power adapter, and SD card? Or do you have to purchase those separately? The site is not clear. Thanks
16  Bitcoin / Bitcoin Discussion / Re: Buying Bitcoin CBDC on: September 28, 2022, 11:40:00 AM
No, it is not a question is silly. In my country, the government already rolled out its own digital currency/CBDC called e-naira. I do not own any of it. And it is not mandatory to use it for purchase of items. On the other hand, people still buy Bitcoin via P2P as despite the ban on cryptocurrency transactions last year by the government.  I have yet to come across a CBDC owner. So yeah the CBDC and buying bitcoin are two parallels.

Sounds good. I will use dexes and purchase in inconsistent amounts. I would not use it on exchanges. Thanks.
17  Bitcoin / Bitcoin Discussion / Re: Buying Bitcoin CBDC on: September 28, 2022, 11:33:39 AM
CBDC is not going to replace the existing fiat payment systems and you can continue using them to buy bitcoin. Even with CBDC you are still making a payment where the purpose is not defined, it could be for buying groceries or for buying bitcoin.
And as always you can always earn bitcoin since it is a currency after all.

That makes sense that they wouldn’t replace the current fiat system entirely at first. It doesn’t make sense why you would need it in the first place.
18  Bitcoin / Bitcoin Discussion / Buying Bitcoin CBDC on: September 28, 2022, 03:42:37 AM
I had several questions but can only remember one at the moment. When the government issues CBDC’s, how would you purchase BTC privately being that the CBDC’s will let them survail every transaction if they wish. Seems like a silly question being they can do the same through your bank but……
19  Bitcoin / Bitcoin Discussion / Re: why can't bitcoin be based on something that has value? on: September 10, 2022, 08:18:14 PM
i dont understand why bitcoin has to be just base on people perceive value of it. and for someone to just artrarily fix the supply of them at 21 million doesn't make any sense. it should be able to contract and expand the # of bitcoins in existence. but because bitcoin is design very simplistically it is kind of like monopoly money. not backed up by anything.


Quote from: death_wish
It's a common myth.  Bitcoin’s price is not directly caused by subjective perceptions:  It is a result of the market, based on supply and demand.  Perceptions are one factor in the “demand” side of that.  There are other factors to demand; and perceptions do not alter supply.

Ultimately, Bitcoin’s fundamental value derives from its facilitation of productive economic activity, which would be costlier, infeasible, or impossible without Bitcoin.  I know that I have done productive non-Bitcoin, non-market business with Bitcoin, which I could not have done without Bitcoin.  That’s not extraordinary:  It is being an ordinary Bitcoiner who uses Bitcoin as money, rather than a purely speculative buyer who just wants “number go up”.  The more such people they are, the higher the organic, non-speculative demand for BTC.
i'm not saying bitcoin doesn't do that. but bitcoin has weaknesses. you can't deny that. the main weakness being that it is not backed up by something like gold. gold could then be used to measure the value of bitcoin. and gold has real world use. people wear it. it gets used in all kinds of electronics. bitcoin doesn't get used anywhere for any purpose. it's just imaginary.


Quote
This discussion of economics is far off-topic for the development forum.  I feel obliged to answer something that is more usually nocoiner FUD or newbie confusion.  If you have further questions about this, I refer you to Bitcoin Discussion or Economics.
ok well, the topic belongs somewhere.

Question to you specifically. What is gold backed by? Nothing. It has value because it meets the 5 monetary properties. It backs itself. It takes a great amount of work and energy to mine gold. So does Bitcoin. Bitcoin also meets 7 monetary properties. It also takes an extreme amount of computational work and energy to create it. Thats why it is called a Bearer Asset, Base layer, apex property. Its the properties that it meets for monetary value, not backing.
20  Bitcoin / Bitcoin Discussion / Re: Need Advice on Purchasing Bitcoin (not financial advice) on: August 06, 2022, 10:16:12 PM
Yep, thats exactly what I did, I transferred some of mine over to the wallet that Im holding for her. 1,000,000 sats is only a few hundred bucks now, but over the long term may be significantly more. I will save it for the kids for when they graduate and beyond or need me. After running a BTC profit calculator, I'm not sure its even enough to split between 3 kids 20 years from now. Anyway, point is, I'll leave it for the kids unless of course one day sis becomes a bitcoin bull. Never know.



I think this story lacks some context. Firstly, financial context. Are you significantly more well-off than your sister, especially considering that she has to provide for 2 children? If you are (and from other posts it looks like you are), then I think you should buy up and gift the .01 BTC to her on a special occasion (birthday?) or when you can see she's in a hard place and needs a win. If you aren't and she can't set money aside on Bitcoin because she doesn't believe in Bitcoin anymore, then I don't think it matters much, and you can just give her the current hardware wallet. Also, I don't like the whole "I would be keeping custody" thing and giving it years later. It's very patronizing, and also anti-Bitcoin because one should always store one's own keys and rely on nobody else. I'd be mad if someone told me that someone has money for me but would keep control of it and not let me get it for years to come. If she doesn't know and it's a secret, then it's a different story and hodling it for now, so that you can give her much more later when the value grows makes sense.
In any case, you shouldn't push anyone to investing money. Like others pointed out, if she has two kids and can't afford to save up to invest in BTC, she's doing the right and responsible thing by not investing what she can't afford to lose.

NoNo, I would never tell her that I have money for her and then hold it hostage. LOL, she doesnt know anything. I never pushed her to invest in BTC either, just told her about it and told her what it was and made the suggestion to put some $ aside if she could. I planted the seed but have left her alone about it since. She did show interest at the time and I let her make her own decision from there. I dont do pressure campaigns and maybe she plans to but going about it a different way. I dunno. I'll give it to the kids later in their adulthood for college or first home down payment or to my sister to assist in her retirement or whatever they want to use it for. Or they all turn into a bitcoin bull and just hodl it. LOL. Either way, Im sharing the blessing of the worlds hardest asset.



I think this story lacks some context. Firstly, financial context. Are you significantly more well-off than your sister, especially considering that she has to provide for 2 children? If you are (and from other posts it looks like you are), then I think you should buy up and gift the .01 BTC to her on a special occasion (birthday?) or when you can see she's in a hard place and needs a win. If you aren't and she can't set money aside on Bitcoin because she doesn't believe in Bitcoin anymore, then I don't think it matters much, and you can just give her the current hardware wallet. Also, I don't like the whole "I would be keeping custody" thing and giving it years later. It's very patronizing, and also anti-Bitcoin because one should always store one's own keys and rely on nobody else. I'd be mad if someone told me that someone has money for me but would keep control of it and not let me get it for years to come. If she doesn't know and it's a secret, then it's a different story and hodling it for now, so that you can give her much more later when the value grows makes sense.
In any case, you shouldn't push anyone to investing money. Like others pointed out, if she has two kids and can't afford to save up to invest in BTC, she's doing the right and responsible thing by not investing what she can't afford to lose.

Excellent point!!!!!

[moderator's note: consecutive posts merged]
Pages: [1] 2 3 4 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!