The reason is that he wants to return the money to me this way. But it's probably better if he returns cash to me, and I buy peer-to-peer for cash in the traditional way. Because I don't want him to incur tax obligations after I sell those sats in the future.

I would like to inform about purchasing on a KYC exchange.
My friend will buy $700 worth of Bitcoin on his account at NEXO/Binance, and he will send what he buys to MY hardware wallet Trezor.
He will have tax obligations and unnecessarily worries about how I will handle those specific sats he sends me?
And I am completely unconcerned because it doesn't matter to me where those sats come from? For me, it's the same situation as if I bought them peer to peer on the street for cash?

What does it mean for me?
What does it mean for my friend?

Edited: Thank you for answers, now I know its better to not complicate it and taking from friend cash and then buy P2P…
Moderator can lock/delete post 

I agree, and furthermore, it wasn't just a friend who helped me get acquainted with Bitcoin, but also someone who gave me many other pieces of advice. We met in the hospital when he was recovering from a serious car accident, and I was hospitalized for a planned scoliosis surgery. As you can imagine, it wasn't exactly an ideal situation for getting to know each other, and yet, despite everything, I consider it a great encounter in the end and am grateful for it.

I firmly believe that if someone buys at the peak of this bull run, which awaits us in the coming months, they will endure not to sell, and they will not be broken by the significant drop that will likely follow. I believe that perhaps thanks to my story, I may contribute to the desire and strength to endure without selling after a major drop.

All the best to you, especially good health

I think anyone who enters the world of Bitcoin will be rewarded over time if they endure and do not sell in a bear market. I wish you all the best as well, especially good health - it is the most valuable asset, more than Bitcoin

Thank you. It's true that the life change when I became paralyzed and started using a wheelchair was terrible. Fortunately, just a few months after paralysis, I returned to sports, and it got me "back to the game". I am truly happy if it motivates and encourages even just one person. Judging by the responses to my story, I can only be satisfied that it has positive feedback.

Well, in some cases, your approach may work, but not when consolidating while there are no satoshis at the destination address in a stuck transaction. That is the reason why you need to first send satoshis from address A3 to A2.

In today's article, we will look into the technical side of Bitcoin and its transaction fees, where I am going to try my best to show you how you can quickly and elegantly solve the problem of a stuck transaction caused by a low transaction fee for miners through the CPFP method (Child Pays For Parent).

There's nothing worse than feeling helpless when your payment gets stuck in 'digital limbo' because you decided to save on fees for miners. Today, we'll explore why sometimes it's better to invest a little more to keep your transactions smoother.

We often desire to minimize costs and set the lowest possible fees for our transactions. However, reality often punishes us because this tactic may not always be the best option. When your transaction gets stuck, it demands not only time but also financial losses in the form of additional overpayments. Miners are happy to let you pay for the resolution of your mistakes.

Sometimes this can happen despite all your efforts to prevent it. In a situation where fees are at 15 sat/vB, and you set it to 18 sat/vB, immediately after sending your transaction, network congestion may increase, and fees can rise to 40 sat/vB or more. There have even been cases, especially with the introduction of BRC-20 tokens on the Bitcoin network (NFT), where fees reached up to 300 sat/vB. This situation persisted for weeks, even months, leaving many transactions in the network waiting long for confirmation.
So, how to proceed correctly if your transaction gets stuck in the network? My goal is to provide you with valuable advice to minimize the risk of a stuck transaction. First and foremost, it must be said:
Do not skimp on fees! It can backfire!
I read somewhere wisdom regarding transaction fees in Bitcoin: "You can pay less, but you risk time and nerves. Or you can pay a reasonable fee and have peaceful sleep."
However, if you are already at a point where it's too late to say not to skimp on fees, let's tackle the solution using the CPFP method. The simplest method is RBF (Replace-By-Fee), but this can only be done if you chose the option to use RBF for the original stuck payment. However, this particular method won't be our focus for today.

PROBLEM AND ITS SOLUTION

Imagine a situation where you consolidate balances in your wallet, and this transaction does not go through for a long time due to increased transaction fees for miners.
You send a transaction (T1) from address "A1" to address labeled "A2," and this transaction (parent) gets stuck. However, you want to expedite the transaction because it's stuck due to a lower fee. So, you send a transaction (T2) from a new address "A3" with, for example, 100 000 satoshis and send it with a high fee to the target address of the stuck transaction (T1), i.e., to address "A2." Transaction (T2) arrives at the target address "A2." Then, you generate a new address "A4," and then choose the total balance from address "A2," and send a transaction (T3) to the newly generated address "A4" with a double recommended fee at that moment, which you can check at www.mempool.space.

To simplify the process as much as possible, it would look like this:

      1. You have the original transaction (T1) sent from address A1 to address A2 with a low fee, which gets stuck in the network.

      2. You create a new transaction (T2), where you send, for example, 100 000 satoshis from the new address A3 with a higher fee to address A2.

      3. This transaction (T2) from address A3 arrives at the target address A2, thereby replenishing resources for another transaction needed in the next step.

      4. Then, you create a new transaction (T3), where you send all satoshis from address A2 (now there are resources from the previous step) to the new address A4 with a double recommended fee, and in this case, the transaction is considered a "child" of the original transaction.

      5. When transaction (T3) to address A4 is confirmed, it causes the original stuck transaction (T1) heading to address A2 to also be confirmed because miners were motivated to mine both transactions (T1 and T3) due to the higher fees.



I firmly believe I have explained it the best way I could and helped you better understand the CPFP method.
Thank you for reading the article to the end, and I wish you smooth and fast transactions in the future.

No problem, actually, I'm even glad, because if I start walking, I'll lose my disabled parking permit. Ahahhh

Thank you for your words. It's important to say to be fair that I've had a bit more luck compared to people who are on the streets, as I had some support from my parents, and especially in the early stages when I was just living on a wheelchair in the first few months and years, it was a significant source of strength for me.

Thank you, I tried to write it as best as I could. All good to you, also!

I just need a wheelchair, ha ha kidding. Actually, not kidding.  I really need it. O:)
No, I haven't been able to move my legs since I was thirteen. So, it's been 17 years now since I've been in a wheelchair. I have a damaged spinal cord due to a mistake made by doctors during surgery.

The feeling when you learn something new is amazing, and when you see that progress in the field of education while gaining a deeper understanding of Bitcoin or any other industry, it's truly rewarding. Warning about FOMO is one of the first things I do when introducing someone to the world of Bitcoin.

I would like to thank everyone who advised me to guard my privacy and ideally not link my account on this forum with my Instagram account. You are right. I have decided to delete this connection.

My favorite is probably Money Heist, Vikings, GoT..

Are you asking this on BTC forum?
BITCOIN, of course!

Hello, I can't send you a private message, so I'm replying directly here. If I understand correctly, you would like to help me with some type of prosthesis that would enable me to walk again?

You probably think that I don't have legs. However, I do have them; I just can't move them. I am paralyzed from the chest down. I have severely spastic legs and cannot move them properly even with assistance. Both tendons and muscles are shortened. To make matters worse, in April of last year, I also suffered a very serious fracture in my left leg. Mobility is highly limited. I have a very strong scoliosis as well. In the coming months, I am planning to undergo surgery abroad because doctors in my country are hesitant and lack experience in such cases. The operation I had when I became paralyzed was already very complicated.
I'm not sure if any prosthesis would help me, but perhaps I misunderstood your message.

I'm not sure if I understand exactly what you're writing. I interpret it as saying that by not always being financially independent, I was burdening my own family and being a burden to them. Now, being in Bitcoin, the burden on my parents has also decreased. So yes, that's correct. I agree with you.




I agree. As they say, while the DCA method may be boring, it is the most comfortable and, on average, tends to yield more than trying to time the market for the best buying opportunities.

Certainly, I plan to hold onto Bitcoin for as long as possible, ideally until the point when it can be used directly for transactions, eliminating the need to convert to fiat currency. However, each year I incur significant financial expenses for medical supplies, so I can only choose a small portion each time to cover the remaining costs. Nonetheless, I won't be selling everything, even at the peak of the next cycle.
I agree with you. I consider Bitcoin as an investment for the future.Everything is okay.  You don't have to feel bad. I've been in a wheelchair for many years. I ended up in a wheelchair after an unsuccessful scoliosis surgery when I was 13. Now I'm 30, so I've had enough time to learn to live with it.
Yes, it is true that such friends are a great rarity in life. I met this particular friend in the hospital when he was recovering from a serious car accident. Even though both of us experienced unfortunate events that led us to the hospital, it also brought some positives. Since I am in a wheelchair, at least I have the opportunity to park close to the entrance at shopping centers. And my legs no longer hurt. 

... thanks to all

Hey It's a YouTube channel that is in the Czech language; you probably won't understand it much. But here is the link www.youtube.com/watch?v=Z92ADb5i42s&list=PLiD1OrtvRy70RQ8k5HH0E3vHQPpEIJJhZ

I remember that day perfectly. I was quite unhappy with my health and financial instability. After multiple successful and unsuccessful surgeries, I found myself reliant on a wheelchair. Unfortunately, the limitations extended beyond just the inability to move my legs; there were significant financial costs associated with various aspects, from purchasing quality medical aids to dealing with the progression of the illness. These were the reasons for my frustration up until 2021.
On that day, when it all began, I had no idea that a phone call with a friend shortly before midnight would change everything. Lee, I am immensely grateful for that! After a long discussion, a particular sentence stuck in my mind when he likened Bitcoin to a train waiting at the station for the last passengers to board and experience a remarkable journey. That was the first time I experienced FOMO firsthand.

During my initial purchase, I was not familiar with the DCA method, and I made a mistake by investing more than I could afford due to the fear of missing out. However, I felt incredible when it went a few percent into profit. Subsequently, it dropped by more than 50%, only to surpass the previous all-time high shortly after, and then the market finally flushed it out. At that point, I felt less fantastic. Fortunately, I did not withdraw the money at a loss., held onto it, and continued to HODL and gradually accumulate, thanks to information from the internet and gaining familiarity with Bitcoin.

A big thanks go to Bitcoin Channel (Czech), where he created a series of videos titled "Introduction to Bitcoin," which I watched multiple times. The information was presented in a simple and understandable way, often with a touch of humor. I still occasionally revisit them, and the information that initially I did not understand now makes sense. I share this video series with others who I want to introduce to the world of Bitcoin, offering them valuable information to study and decide whether to dive in. I am incredibly grateful to my friend for pulling me into this.

Studying the content in the Bitcoin Channel has added a lot to my life. I had no idea how little I understood traditional finances until I study them. I was taken aback by a video where I learned that the big-dollar is not backed by anything, that it really is just about trust in the state. I was amazed at how complex Bitcoin is from a technical standpoint, yet how simple it is to use. Comparisons to a microwave or the internet showed me that we don't have to understand what's happening behind the scenes technically – codes, hashes, nonce, blockchain, and the others. Just as the average population doesn't know how a microwave works, they just press a button and heat up their food. When you want to find information on the internet, you don't have to worry about how your device connects to the server and communicates in the background with the other side. You simply type what you're looking for, press enter, and there it is. You don't even realize the technical aspect of how money is leaving your payment card, and yet it is a widespread method of payment worldwide.

Fortunately, I didn't lose faith in Bitcoin when the market hit its low in November 2022. I continued to accumulate in small portions, significantly improving my average purchase price from the previous entry during the peak of the bull market, thanks to the DCA method. I'm excited to see the reward for enduring the stress and holding on, even when things were tight. Now, with a pleasant profit, I know that I won't have to ask for help with the down payment on a new wheelchair or other expenses related to my health in the future. And I achieved this pleasant profit before reaching the ATH of 2021. What will happen with greater adoption? When the entry of large institutions fully manifests? When the next halving occurs? When FOMO grips new people entering Bitcoin? I don't know. But I firmly believe that this small appreciation will gradually increase, and I will fulfill my dream of financial independence, with an ongoing improvement in the quality of my life.

In conclusion, with this contribution, I want to convey the following to people, especially those deciding to enter the world of Bitcoin: Educate yourself, stay informed, and don't panic. Only invest what you are willing to lose. I didn't come up with this advice; wiser, more experienced individuals did, and I listen to them. If you encounter any issues, reach out to people who understand it better and have valuable experience. I found support in the Bitcoin Community group on Facebook.

If my story helps someone when they find themselves in the same situation as I was when buying at the peak of the bull run, I will consider myself successful, and it will have made sense to write it.

I wish everyone, especially those who managed to read this far, robust health!

Thank you, Satoshi!

Congratulations on your first satoshis! Whenever you accumulate a larger amount of satoshis, ideally 0.01 or more, it's ideal to send it to a hardware wallet - I use Trezor. And I wish you good luck in not only collecting a lot of satoshis but also a whole Bitcoin!

My plan is to accumulate Bitcoin until it reaches its all-time high, and then I will buy a new wheelchair. In case Bitcoin doesn't reach a new all-time high by the end of May, I'll have to take a little piece of Bitcoin earlier