He currently owns 401 bitcoins, which equals $3.4 million at a rate of $8,512 a coin.
...
Still, he adds the same disclaimer as Mark Cuban: Only invest what you're willing to lose.
Apparently, he is willing to lose $3.4 million (which I assume is nearly everything). |
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OK so after reading everyone’s replies this is what I get out. At the point where I buy and keep them at Coinbase or send them to another Coinbase account the keys are never involved. But if I decide to send the coins to another exchange, then the actual keys are in fact sent at that point? So that means if somebody were to hack into my account and transfer the coins to their account, then at that point the keys ARE sent along with it?
There are no "my keys". The keys are Coinbase's keys. You have an account at Coinbase with a balance. Keys are not sent, but are used to send. However, moving bitcoins between Coinbase accounts consists solely of changing the balances of the accounts. Nothing is actually moved or sent. Perhaps you believe that each bitcoin has a private key. That is not how it works. In simplest terms, an address holds bitcoins and an address has a private key. |
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Coinbase has several wallets and private keys. The private keys are required to send the coins between their wallets and to wallets they don't control.
When you buy bitcoins, Coinbase credits your account when the money is received from your bank. No bitcoins are moved.
When you deposit bitcoins in your Coinbase account, you are sending to a deposit address in Coinbase's wallet. When Coinbase receives the bitcoins, they credit your account. They know which account to credit because only your account uses that deposit address.
When you send bitcoins from your Coinbase account to a friend that has their own wallet, Coinbase debits your account and then uses their private keys to send the bitcoins from their wallet to your friend's wallet.
When you send bitcoins from your Coinbase account to your friend's Coinbase account, Coinbase simply debits your account and credits your friends account. No bitcoins are moved.
When you sell bitcoins in your Coinbase account, Coinbase simply debits your account and transfers the money to your bank account. No bitcoins are moved.
I hope that makes everything clear.
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Determining how your private keys were accessed would be helpful. Perhaps the key generation software you downloaded is the problem. Either way, the only sensible thing to do now is to get a hardware wallet.
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Is anyone surprised?  Overheard at a party in South Beach: "... the best part is that it is all completely legal ..." Also, note that if you bought right after the coin was announced, you have already lost 30%. |
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Do research like a real investor. Otherwise you are just a gambler.
The one answer that will be repeated multiple times is also the most logical one: Lots and lots of research.
This is sage advice, but is it wrong if this forum member seeks the forum community comment as part of that research process? If we're going to respond, let's offer some real help. If you can only respond with "do research" you don't have anything to add to the thread. He asked a simple question, "how do I choose?". The simplicity of the question led me to believe that he was looking for a simple answer, so I gave him a simple answer. I could have responded that investing in an ICO is a complex and time consuming process that requires evaluation of the goals, the potential returns, the risks, the plans, the technology, the market, the competition, and the people. I could also have gone into some detail about how I might evaluate all of those aspects, but it seemed to me that the OP just wanted a simple answer instead. |
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It makes me so sad to see all of these responses saying that Bitcoin is not useless because it can make you rich. These people are a cancer on Bitcoin. Honestly, it makes me angry. It makes me wish that the price of a bitcoin would drop back to $1 just to teach these ignorant parasites a lesson.
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how to earn in bitcoin??.,i'm a newbie here!.,
Unless you live in a very poor area, the fastest, easiest, and most convenient way to obtain bitcoins is to buy them. |
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There are lot of icos at the market and most of them are spams so how to choose good profitable ico to buy
Do research like a real investor. Otherwise you are just a gambler. Also, you are advertising an ICO. Why not buy that one? |
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Cisco just figured this out? It has been a well-known issue for years.
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It could be TRX, there is a lot of potential for that coin and I don't believe it is in Teeka's portfolio yet
Whatever it is, I guarantee it will be in his portfolio before the newsletter goes out. Palm Beach Research is a major pump-and-dump operation. |
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Op is complaining about exchanges, but exchanges are innocent. I've used a dozen for the past 5 years without an issue.
You have been very lucky or very careful. Here is a partial list of sites that have been hacked or have lost (or stolen) customer money in the last 5 years: Bithumb Coincheck NiceHash BTC-e Bitfinex Gatecoin ShapeShift Cointrader Bitstamp Bter Exco.in Kipcoin 796 Cavirtex Mintpal Cryptsy CryptoRush Inputs.io Mt.gox PicoStocks |
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The aluminum industry in Iceland uses 15 times as much power as residential usage.
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Microsoft is a dinosaur. They are just struggling to stay relevant. Nobody really cares what they think.
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that's pretty funny  but in all seriousness you think it is isolated because it is rejecting connections or does it ask for a high fee? or something else? It also might be unconnected on purpose . It is probably not actually Roger Ver's node. |
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It might be harder than you think. You assume that you can make money by trading. The reality is that most traders lose money, or at least they make less money than by just holding and not trading.
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And when it doesn't happen? What will he say then?
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There's little point in using the ETF concept for Bitcoin, it's a digital format that can be settled directly when trading. There are no ETF's on the Forex markets that I'm aware of, for the exact same reason.
While I totally agree with your sentiment, their are ETFs for many currencies: http://etfdb.com/etfdb-category/currency/ |
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The initial subsidy was 5,000,000,000 satoshis (50 BTC) per block. This value is halved every 210,000 blocks until it reachs zero. If you add up all the subsidies, you will get a number slightly less than 2,100,000,000,000,000 satoshis (21 million BTC).
It is not known exactly why 2,100,000,000,000,000 was picked, but it is thought that it was picked because it fits in the mantissa of a 64-bit floating point number, and the generation parameters are simple and reasonable.
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