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I often read lists of tips and other best practices in the Bitcoin world, but i thought it would be interesting to share the worst Bitcoin advice you may have received throughout your adventure in this incredible monetary revolution.
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When i first heard about bitcoin, one of the selling points then was the pseudo anonymity. But as of recently, it is hard to purchase any crypto without encountering a form of KYC.
I’m just curious of everyone’s thought on this.
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If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?
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What is the difference between seed phrase and private key?
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I own different crypto and mostly I stake with them because I am interested in the long return. With bitcoin I am actually doing nothing. Can you suggest any strategies to make even a little APR? I know that I can't stake with bitcoin.
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If I transfer BTC to a friend/family, they now know my wallet address, correct? Does this mean they can see all the transactions I have done from that wallet? It seems like wallet information is public except for identity, but that would be forfeited once I make a transfer, right?
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If I wanted to buy $1,400 of bitcoin every week, should I buy $200 a day or should I buy the $1,400 every week?
Any options will be greatly appreciated.
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How are people accumulating more bitcoin other than buying it with fiat?
I’m watching videos on Youtube and reading forums and i see a commonality of people saying to accumulate more bitcoin and not to day trade. But how does this work? Or are there other ways to grow your bitcoin portfolio? Can you explain a little bit in detail?
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Can anyone share their experiences with wallets. Which ones are the safest and what can go wrong?
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I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.
What’s your take on this? Is this a good or bad idea?
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If we take every dollar in existence and make the existing quantity of BTC equal that amount of value, what will a coin cost in the (now-defunct) dollar?
Just wondering what will happen if a large economy switch to Bitcoin
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At one point or the other, we all need to buy bitcoin, but when do you actually buy it? or when is the best moment to buy bitcoin?
For example, should I save some cash to but bitcoin when there's a 0 -15% dip? or should I wait till there's a major drop of >30%?
Is DCA the only way to buy bitcoin? What if I invest in an altcoin that booms and then take profit from it to buy more bitcoin?
What is your strategy to buy bitcoin?
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Adding the Bitcoin symbol to the keyboard will scream "ADOPTION". The question is where to put the key? I would suggest they replace the $ with the bitcoin symbol... just kidding. However, it gotta go somewhere, what do you think?
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imo, a risk averse person would probably go for usd because it's a fiat currency and it's not affected by the forces of demand and supply while a risk taker would go for btc.
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