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I'd stick with new.
Think of it this way - why would someone be selling a used hardware wallet?
I can think of no conceivable reason for selling either of mine unless Bitcoin totally fails (price drops to like 5 cents a BTC)
I can picture someone selling a used one if they had come up with some nefarious scheme to steal from the buyer.
They aren't that expensive new, just spend the money.
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When you join a signature campaign, you put the company's advertisement in your signature space. Then you spam the site with as many meaningless posts as you can. The more you post, the more you get paid.
Top posters can earn up to a couple dollars per hour. That can be very helpful for a person living in a poor country where they can't earn more than a couple dollars per hour doing real work.
Basically like those deals where people get paid by a company to paint their advertisement on the side of their car, and to drive around showing it off to everyone. |
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I don't consider bitcoin on an exchange my bitcoin.
It's only a matter of time until an Exchange screws you over (either deliberately, or inadvertently).
If you actually need to use an exchanges services then my all means temporarily locate them there - but upon completion move them back to your hardware wallet.
p.s. It doesn't matter how goes a trader someone is if their exchange ends up costing them their gains.
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Make sure he does his taxes correctly (and let's face it, he'll have no shortage of money left even after paying them).
He should get a hardware wallet first, and put his BTC on there.
Then I'd pick three good exchanges, and send 2 bitcoins at a time on each (so 6 total).
Sell the 3*2=6 bitcoins, initiate the withdraws the cash to his bank accounts. WAIT for cash to get there.
Upon completion start the process again. Sure it will take a while, but he doesn't have to worry about an exchange hack/fold/theft costing him a vast amount (his maximum loss in such a case would be 2 BTC or FIAT equivalent)
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Look into the Airdrops that are out there for BTC HODLers. Folks are trying to promote their new coins by encouraging existing long term bitcoiners to adopt them.
It's like an ICO where the entry fee isn't $$, it's ownership of Bitcoin.
Any new coins you get you can liquidate and convert to either more BTC, or your local FIAT.
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The biggest problem I have is that it seems like it would be a tax nightmare - so I don't do it.
Honestly I don't consider it a problem - I HODL tight to put off having to deal with that. It's worked well for me so far!
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I'm still not convinced SEGWIT will kick in - any time it seems like a scaling solution is coming something always seems to come up to stop it happening.
I'm cautiously optimistic things will be different this time. I think the compromise of SEGWIT followed by a block size increase offers something to most parties, and I'm hoping when/if all that locks in BTC will see another price surge.
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If your account is brand new you can't surge up the ranks by posting a whole lot.
It's actually quite a clever system now I've looked at it closer - if you are ranked low due to not saying much, but have said it over several years, you have the capability to achieve a decent rank quite quickly if you start talking a lot.
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The addresses must be empty I get, but there is also mention that they need to contain 'dust'...
What does that mean exactly? I couldn't see a definition on your site.
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Create a Crypto, have an (unregulated) ICO.
A great way to fleece the sheep, if someone doesn't have any scruples!
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I think only making the airdrop available to certain status members of the forum, which has been suggested by some, is out of line. Just because I have only 8 posts doesn't mean I haven't been a part of BTX since it started or that people like me shouldn't be allowed to participate in rewards because we don't post a lot, or at all. I come to the forums a lot, but mostly just read and keep silent. I've rarely posted, but that doesn't mean I should lose any rewards for mining, holding or purchasing BTX. Ive been a dedicated miner since day 1.
A lot of these schemes targeted to Senior Members seem to be designed to encourage folks to spam. |
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Would you mind telling us the coins that you are staking right now / planning to stake?   Would like to know this too...looks like it must be CPU mining? |
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How long do you need to be a member to be considered a Senior Member?
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Do any exchanges trade BTX? If I claim these what can I do to get value from them?
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I'm attempting to use regtest as in this tutorial: https://bitcoin.org/en/developer-examplesWhen I issue this: bitcoin-cli -regtest generate 101 I get a failure: 'you must set rpcpassword=<password> in the configuration file: /home/ubuntu/.bitcoin/bitcoin.conf' I add that file and instead get the error: 'incorrect rpcuser or rpcpassword (authorization failed)' Do I need particular rpcuser/rpcpassword values in order to use regtest? Any suggestions as to what I may have missed? Thanks |
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I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate
Did anyone do this before? Would like some experience advice There have been many people in here asking about the same thing and I think it's a recipe for disaster and would not recommend it. Invest what you can afford to lose, if you become too greedy it could very well come back and bite you in the ass (and karma says it will). You will live in regret for the rest of your life. Don't do it, if bitcoin succeeds a few bitcoins will be enough to buy a house or two. Let's say someone took a loan of $100k in september and put it into Bitcoin, he would have made about $900k minus interest in just less than 2 months. There's no going wrong here. If I take a loan now of $100k and put it into Bitcoin, it might be worth 10x in just a few months. Worst case scenario it will bubble to $9k and back to $1k, then I would have only lost the interest on the loan. It's a winner bet to become a millionaire from just one simple move at the moment, with no losing edge in sight. So the worst case scenario you see is that BTC goes to $9000, then falls back to $1000? You see absolutely no other scenario worse than that??? I'm holding my bitcoins, but having such blind faith in your predictive abilities is dangerous. |
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You copy the private key in a paper backup so you can recover your funds. You put it inside a safe box. You can cypher it with a pasword if you like.
I did all this when I was experimenting with bitcoin earlier this year. Used armory, printed paper wallet, view only wallet, all that jazz... I put the print out somewhere safe...and now have no idea where that was! My 5BTC is lost in the cloud:) Stupid? Yes, I don't deny it... Easy to replicate mistake for the average punter? Certainly... I'd like to buy some more bitcoins, I think there is a reasonable chance they will balloon in value at some point. But I have zero confidence of my ability to access the money years down the road! I'd need someone trustworthy to manage it for me. |
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This part caught my eye...
"Who are the movers and shakers? Whose word is worth 10k Bitcoins no questions asked and from whom? Why?"
Does anyone in the Bitcoin community really have this sort of unshakable faith in any other member? Any person who could convince a dozen others each to trust him/her with 10k Bitcoins would have to be considered a flight risk.
50000-100000 Bitcoin has a lot of value compared to a reputation. I wouldn't trust ANYONE with that kind of temptation, it would seem kind of foolish to even consider doing so.
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I think the BCT forum is not the place to find an unbiased focus group of US citizens.
There are a lot of Libertarian leaning members from the US interested in Bitcoin, who almost by definition are against government involvement in all sorts of programs.
I personally have a lot of sympathy with those types of arguments, but as a US citizen originally from Australia, I can see both sides. Back in Oz I had some basic level of coverage for catastrophe, and had some private supplemental insurance to 'beef it up'.
When I tried to get coverage in the US between jobs I was screwed. The rates I was being quoted were in the lines of what you could make doing a minimum wage job.
You can argue that Government health insurance for all is not the best solution in the world, but I believe it is better than relying on the whims of your employer - while at the same time paying taxes out of your paycheck each month for the Government health insurance of senior citizens!
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The European countries spent all their energies on fighting with their neighboring nation states, and thus lost their empires. Wait, are we talking about something else?  |
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