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We humans, are equipped with our senses and our logic, none of which can prove with certainty that god (any god) exists. It is only by faith, that concepts such as the existence of (a) god, as described in the "holy books", can be dogmatically accepted as true. There is no way it can be proven using observation (senses) and/or logic.
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Few years ago, I am convincing my self to buy Bitcoin at 300usd each. But my mentality is like: "It doesnt cool to buy a fraction of Bitcoin. it must be a whole number". But its too expensive. But what happened is. I buy bitcoin 1/10 one tenth of Bitcoin for .100 while bitcoin is around 1000usd.
So the lesson is either 100k usd or 50k usd, People will still buy bitcoin at no matter price.
When the unit of trading/using Bitcoin will be the mBTC, you'll be able to! 100 mBTC is a whole number. And it's cheap, at only $430! It's all in our head... "Whole number" doesn't mean anything in this context... |
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If I ever become rich because of my BTC, I have absolutely no problem paying my taxes as a law-abiding citizen. I'll still be rich, and not live in constant fear of being questioned where I found my money whenever I buy something expensive.
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Litecoin LOL
Litecoin has its role: it's the small brother that slowly tries to find its way up. I don't see why Litecoin can't be on the second place in market cap after bitcoin. It think it's way better than many of the coins before. In the end Litecoin, it's just another version of bitcoin. Bitcoin got stopped again on ATH: as I said previously this will not last longer.  hold Not that I am going to complain. Litecoin is second in my portfolio. But I wasn't expecting a surge just now, that's all. Same here. Litecoin is the second coin in my vault. I love Litecoin. I believe that it has its place in the crypto space, and a good future. I particularly like its speed (4 times more "beats" than Bitcoin), its very low fees (still), and the willingness of the development team and the community to adopt new technologies, such as SegWit and the Lightning Network. Speaking of fees, I did a few BCH transactions recently, and noticed the extremely low fees that Bitcoin Cash has. My last one was for 15 BCH and the fee was 0.000001 BCH (approx. $0.0006). As much as I love the original (Core) Bitcoin, I do greatly appreciate the low fees of Bitcoin Cash. The same amount in BTC on the same day cost me $11 in fees (nearly 20000 times higher than BCH). |
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there is also bitcoRn (some professor misspelling) or professor bitcorn, LOL
LOL, never heard of these. But "this is gentlemen" has something that really makes me want to REALLY laugh, if you know what I mean...  |
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With the price of BTC soaring, the unit of measure for it should be the mBTC, where 1 mBTC = 1/1000 BTC = 0.001 BTC. One can easily obtain 1 mBTC by paying around $4.6 for it. There's no need to buy a whole BTC, which is what many people are not aware of. I hope this change of units is implemented soon, so that this psychological barrier is lifted.
Other units that could be used:
μBTC or bits (= 1/1000000 BTC = 1/1000 mBTC)
Satoshi (= 1/100000000 BTC = 1/100 μBTC)
So, 0.123 BTC = 123 mBTC = 123000 bits = 12300000 satoshi.
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Many thanks Torque, that's exactly what I wanted to know. Very nice. LOL! Bitcoin has coined (pun intended) lots of nice expressions and stuff... With HoDL being the best by far. |
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@{Meuh6879, ghandi, Elwar}: Wow, you guys are pros! I like Elwar's big font ticker, I could watch it at night with one eye, while sleeping next to the PC... |
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Just install a Bitcoin widget on you phone, and point it to your favourite exchange. That's what I've done. But I know what you mean... |
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Guys, I'm seeing people use the word "gentleman" in a funny/symbolic way, similarly to "hodl"...
What's the story behind "gentleman" and who coined it?
Just curious...
And, to answer the OT Q... I'm not yet rich, but hoping to be, when BTC reaches 6 digits. My current stash of BTC is in the low double digit mark.
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Just to let everyone know that using TREZOR to claim your BCH is a piece of cake. Excellent interface from SatoshiLabs, kudos to them! I claimed them all from both my wallets and transfered directly to Kraken.
I'm a HoDLer, can't do trading, not good at it. But the "free" cash I got from BCH was too tempting for me to not give it a try. I sold all of them when they were slightly past their peak. Now they're dropping nicely, so I can buy them back and be left with free BTC! But I'll wait for a bit to see how it all plays out. Trading is an addictive thing. I may do it with my free BCH, but there's no way I'm touching my original BTC. They're safely stored in my TREZOR and will not be touched unless absolutely necessary.
Have fun guys 'n' gals, and remember --> HoDL!
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If you're comparing ETH/ETC to BTC/BCH, then you should be saying that BTC is ETC and BCH is ETH. Ethereum "Classic" is the original blockchain. ETH is what forked off from it.
BTC is the original blockchain. BCH is what forked off from it.
Yes, but where did the original development team go? This should tell us something... Vitalik Buterin and his core team chose (in fact, they created) ETH (the forked coin). And ETH is now the biggest, most valuable blockchain. ETC is the old, legacy coin, without the original development team supporting it. Similarly, the Bitcoin core developers are backing BTC. And I believe that BTC will be the biggest, most valuable blockchain as a result of this. BCH is the forked coin, without the original development team behind it. I'm not so comfortable knowing that Jihan Wu, Roger Ver and some unknown coders of questionable quality are deciding on the rules of this coin... |
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Are my bitcoins save at kraken an exchange site?
NO!Your keys, your money. Not your keys, not your money! Realy ? What can i do now as Fast as possible ? Making over to an hardware wallet? The easiest thing you can do is install a good wallet app on your smartphone and move your coins there. A good choice is Mycelium Wallet (available on both iOS and Android). When you install it, make absolutely sure to write down and safely keep the Recovery Seed (12 or 24 words given in a specific order). Those words are your private keys (they are the map to get to them). Another option is to use a paper waller generator to generate a paper wallet and move your coins there. A good choice is https://bitcoinpaperwallet.com. Make sure you follow the security guidelines towards the bottom of the page. Ideally you should run the paper wallet generator code on a "live DVD" or virtual machine that is not connected to the internet, print the wallet, and then reboot your PC (or wipe out the virtual machine session). The best choice is to use a hardware wallet such as TREZOR, but I don't think you have enough time to purchase one and have it by 1 August... Using any of the above methods, you control your private keys and, therefore, you own your coins. |
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Are my bitcoins save at kraken an exchange site?
NO!Your keys, your money. Not your keys, not your money! |
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The Trezor involves trusting the manufacturer and/or internal firmware.
If the Trezor is burned in a fire, I can restore another from the seed, but doesn't that also mean the manufacturer could as well? They obviously have access to the private keys. Otherwise they'd have been lost in the fire along with the coins in the associated addresses.
Wrong! With a TREZOR, you (and only you) have access to your private keys! The 24-word seed is your road map to them. It is a one-to-one mapping. Only you know the seed, so no one else has access to your private keys, not even TREZOR's manufacturer! The algorithm that maps the seed to your private keys is open-source and is explained in the official BIP39 proposal [1]. If your TREZOR is burned in a fire, you can easily use your seed to get to your private keys, not only by using another TREZOR, but also several other hardware and software wallets which follow BIP39. It is an open standard. The manufacturer (or anyone) has no way of getting to your keys, other than by knowing the 24-word seed (which he obviously doesn't). Your private keys are not stored somewhere in a server and you simply gain access to them using the seed. Your private keys are generated by the seed! There is a one-to-one cryptographic mapping between the seed and the keys. In other words, the seed is your keys, in the sense that the keys can be generated by the seed completely offline, using a known and standardized computer algorithm. Currently, TREZOR (and similar hardware wallets) are among the coldest, safest, and easiest to use wallets you can have. Much easier to store and backup a single 24-word seed than an ever-increasing stack of paper wallets... [1] https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki |
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I bought my coins when they were selling for $200 each, and held them ever since. I've made tens of thousands of dollars in less than 2 years. I'm still holding. You can call me an idiot all you want... I'm happy with my choice and recommend all to keep their coins unless they absolutely need the fiat for something urgent. I may well (and am prepared to) lose most/all of it, but I do believe deeply in Bitcoin and trust that it will rise to 5-/6-digit values in the coming years.
So, I say, "Good things come to those who wait HoDL"...
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I could not find any advantage in using any intermediate wallet before reaching exchange. But there are incontinence may occur like unnecessary tx fees and time delay for network confirmations.
If you want your hardware addys do not be exposed to your exchangers then you may use bitcoin mixing services to ensure your privacy rather than simply using another "stage wallet".
Well, I agree with what you're saying, I guess there shouldn't be any reason why I shouldn't use my cold storage wallet to transfer BTC directly to an exchange. I just wanted to ask here at the Trading Discussion section, just in case there's something I'm missing in terms of good/safe wallet usage practices. Thanks for your reply. |
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Hello,
This may be a stupid question... If I ever need to sell some of my BTC via an exchange, should I transfer the BTC to the exchange directly from my h/w wallet (cold storage), or should I first transfer them to another wallet (e.g., my phone wallet), and then from there to the exchange?
What do you guys suggest? Are there any privacy, security or other issues with direct BTC transfers from cold storage to an exchange? Are there any advantages to using another wallet between my cold storage and the exchange?
Many thanks!
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Just to express my opinion that the recent drop in the price of Bitcoin is nothing to worry about. It was expected, it happened, and we shall soon be moving on to new heights. I see this as a healthy growth, a bumpy uphill road to the top. See the daily chart below (you'll need to click the link for now, because I'm a newbie):  As you can see, a similar drop occurred in the first half of May. See the similarities. I guess (and hope) that the price of Bitcoin will very soon start rising again. As for me, I'm HoDLing all the way, with all my coins safely kept in cold storage, and I suggest you do the same. |
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Let me be the first to guess...
$2980 / BTC
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