Bitamp Bitcoin Web Wallet - Send & Receive Bitcoin Instantly!

[bitampcom]

Why should I use a Bitcoin wallet? Is there any benefit of doing it?

Yes. A real Bitcoin wallet puts you — and only you — in control of your own funds. A Bitcoin wallet hosted on some other centralized server or service means that at any time, just like a regular bank account, the owners of the service can freeze or stop your transactions or even take your funds away, which then means you lose the whole point of owning your own money. That’s what Bitcoin is all about! Spend as you want, send to the people you want directly, pay the transaction fees you want, and be confident it will be sent the way you want it. No hidden fees, no mysterious account balance change or any of that crap we’re all used to with regular money.

[cryptomaniac_xxx]

Someone requested our answer today: Does the US population only own 5% of the Bitcoin market?

Doubt this is true. It’s true that in the early days there were more North American Bitcoin users and owners than the rest of the world but today, the US is probably one of the most difficult places to buy Bitcoin.

Most of the world’s developed economies allow you to buy P2P, for example, which is impossible without a license in the US. And you have access outside US to all kinds of exchanges online — that don’t accept US citizens.

It may change soon with PayPal and others gearing up for BTC legitimately but it’s hard to believe 5% of the market is in American hands.

What do you think, guys?

Yeah, really hard to say how much of US population really holds bitcoin or have been using bitcoin. There are a lot of surveys out there, but I think the sample data is too small to grasp, so it could be more. And as we all know, US market is huge,  but they are very strict, even some gambling websites I know restrict US citizens.

[OcTradism]

Yeah, really hard to say how much of US population really holds bitcoin or have been using bitcoin. There are a lot of surveys out there, but I think the sample data is too small to grasp, so it could be more. And as we all know, US market is huge,  but they are very strict, even some gambling websites I know restrict US citizens.

Bitcoin is a Demographic Mega-Trend: Data Analysis

USA is the leading nation and if bitcoin and cryptocurrencies are surviving and growing in the nation, it is only good for crypto market globally. If in the strictest nation, cryptocurrencies are not banned or destroyed, they are fine in rest of the world.

The growth of crypto companies and more products from them in the USA. are positive contributors for the market.

The USA has 1966 nodes or 17.62% of all bitcoin nodes with 11159 total nodes. Global bitcoin nodes distribution and Countries chart

Despite the bear market, the data shows that Bitcoin awareness, familiarity, perception, conviction, propensity to purchase and ownership all increased/improved significantly

The results highlight that Bitcoin is a demographic mega-trend led by younger age groups.

Ultimately, Bitcoin is a demographic mega-trend: Younger demographics are leading in terms of Bitcoin awareness, familiarity, perception, conviction, propensity to purchase, and ownership rates.

[bitampcom]

Why would anyone think Bitcoin and other crypto assets have no future?

Mainly fear of the unknown, or fear of the change to status quo. You have to understand the current system of finance and banking has benefited those in power for a very long time, generations actually. Something like Bitcoin which is decentralized, where the powers that be hold no influence, can be seen as destabilizing to the current system. They can’t control it, they can’t manipulate it, so they can’t use it to their sole advantage.

So it’s really in their interest to convince others that Bitcoin holds no future. They’re wrong, of course, Bitcoin’s grown to such a stage where it can’t be stopped.

[notblox1]

Bitamp maybe you need to think about adding 2FA two-factor authentication for creating wallets on your website.
It would greatly improve wallet security and reduce potential phishing attacks in future.

[Taskford]

Bitamp maybe you need to think about adding 2FA two-factor authentication for creating wallets on your website.
It would greatly improve wallet security and reduce potential phishing attacks in future.

This is indeed a nice suggestion since if there's no 2FA then a huge risk might come in future for the users so provably it's best to put that feature for security purposes, I'm sure many would love to see that since by now setting up the 2FA is been done by many crypto users and many are been turned off for the wallets who doesn't have this placed in their site.

[Furious 7]

Bitamp maybe you need to think about adding 2FA two-factor authentication for creating wallets on your website.
It would greatly improve wallet security and reduce potential phishing attacks in future.

This is indeed a nice suggestion since if there's no 2FA then a huge risk might come in future for the users so provably it's best to put that feature for security purposes, I'm sure many would love to see that since by now setting up the 2FA is been done by many crypto users and many are been turned off for the wallets who doesn't have this placed in their site.

Scamers always have a way to copy phishing sites that are their target so it is very important about 2FA authentication if you add it to Bitamp I also now use this wallet but only hold the private key and seed that has been provided so there is no extra security if it is where in front of things that are not desired.
But I fully support what Bitamp is doing in this step.

[bitampcom]

Bitamp maybe you need to think about adding 2FA two-factor authentication for creating wallets on your website.
It would greatly improve wallet security and reduce potential phishing attacks in future.

Not sure how this would work since you're not actually creating any accounts on Bitamp, but we'll pass it on to the devs. I know there are 3rd party 2FA for even within Electrum, for example. We'll certainly pass the feedback down:)

[Stalker22]

Bitamp maybe you need to think about adding 2FA two-factor authentication for creating wallets on your website.
It would greatly improve wallet security and reduce potential phishing attacks in future.

Not sure how this would work since you're not actually creating any accounts on Bitamp, but we'll pass it on to the devs. I know there are 3rd party 2FA for even within Electrum, for example. We'll certainly pass the feedback down:)

You are absolutely right, it wouldn't work at all.

The 2FA authentication method cannot be used if the wallet is accessed via a private key (or a seed phrase or keystore file). Think about it. What exactly should 2FA protect if someone already has access to your private key? Bitamp is not a custodial wallet as far as I know.

As for the second argument for "reducing potential phishing attacks," the answer is no again. The goal of a phishing attack in this case would be for thieves to obtain your private keys or seeds. If this happens and you leave your private key on a fake (phishing) website, it's basically a game over for you. Thieves have everything they need to steal your funds.

[$crypto$]

Bitamp maybe you need to think about adding 2FA two-factor authentication for creating wallets on your website.
It would greatly improve wallet security and reduce potential phishing attacks in future.

Not sure how this would work since you're not actually creating any accounts on Bitamp, but we'll pass it on to the devs. I know there are 3rd party 2FA for even within Electrum, for example. We'll certainly pass the feedback down:)

You are absolutely right, it wouldn't work at all.

The 2FA authentication method cannot be used if the wallet is accessed via a private key (or a seed phrase or keystore file). Think about it. What exactly should 2FA protect if someone already has access to your private key? Bitamp is not a custodial wallet as far as I know.

As for the second argument for "reducing potential phishing attacks," the answer is no again. The goal of a phishing attack in this case would be for thieves to obtain your private keys or seeds. If this happens and you leave your private key on a fake (phishing) website, it's basically a game over for you. Thieves have everything they need to steal your funds.

We already have SEED, Privat Key, Keystone files.
So for me it is also quite safe Bitamp and MyEtherwallet which does not need 2fa authentication in this case because the seeds we are holding are strong unless other people know about it.

Wearing a scamer attack later, of course, it is from us ourselves that we have to be aware that the bitamp can be cloned by the scamer, therefore we have to keep the original url which will remain safe when opening it.

[bitampcom]

Bitamp maybe you need to think about adding 2FA two-factor authentication for creating wallets on your website.
It would greatly improve wallet security and reduce potential phishing attacks in future.

Not sure how this would work since you're not actually creating any accounts on Bitamp, but we'll pass it on to the devs. I know there are 3rd party 2FA for even within Electrum, for example. We'll certainly pass the feedback down:)

You are absolutely right, it wouldn't work at all.

The 2FA authentication method cannot be used if the wallet is accessed via a private key (or a seed phrase or keystore file). Think about it. What exactly should 2FA protect if someone already has access to your private key? Bitamp is not a custodial wallet as far as I know.

As for the second argument for "reducing potential phishing attacks," the answer is no again. The goal of a phishing attack in this case would be for thieves to obtain your private keys or seeds. If this happens and you leave your private key on a fake (phishing) website, it's basically a game over for you. Thieves have everything they need to steal your funds.

Yup! That's what I thought too:) 2FA's as far as I understand not applicable to a service like Bitamp. We don't store any information at all from you on server side, everything is done on your side (client side). We're definitely not a custodial wallet and we don't have account holders at all. Just site users, without need for accounts.

[bitampcom]

Which companies or institutions have started buying Bitcoin?

No need to mention PayPal and the like — those you can easily Google. I think the one worth mentioning here is the government of Norway, which manages the world’s largest sovereign fund — and has a history of great management. They’ve put a percentage in Bitcoin since 2017 IIRC correctly, and this essentially means every Norwegian has a stake in Bitcoin’s fortune. They’ll be well taken care of.

[bitampcom]

Why are institutional investors crazy for Bitcoin?

At first, because of its speculative nature, and the understanding now that Bitcoin bubbles don’t last long but repeat in cyclical fashion. Just as they would any other bubble like stocks and real estate, institutionals try to hop on as the next bubble expands.

But mainly now, because US dollar and other fiat are simply losing too much value in the mid- and long-term. No use generating profits in US dollars if they’re worth less year after year.

[bitampcom]

Do the rise and fall of numerous altcoins take away from the legitimacy of Bitcoin?

Not at all. Bitcoin was the first and it had a clear mission from the beginning. Other altcoins sought to provide alternative missions.
If anything, the rise and fall of alts only serve to strengthen the case of Bitcoin and prove it as the most battle-tested and mature technology in its class.

[bitampcom]

How do I buy Bitcoin with the dollar cost average method?

Dollar cost averaging simply means, buying regularly no matter the price. For most people, this is a fixed time every period (weekly, monthly, bi monthly etc). It doesn’t have to be at Coinbase, it can even be at Paypal now.

Coinbase and other exchanges do have a feature to automatically buy BTC for you at intervals though in case you forget.

[bitampcom]

Enjoying the new ATH today, people? Funny that less than a week ago we were talking about 30,000 and now 40,000 is within 3% gains of reach.

Exciting times for all, but always remember, not your keys, not your coins!

[bitampcom]

If you buy bitcoin today, do you need to store it in an offline cold storage wallet?

This always depends on the amount and the purpose of your Bitcoin. If it’s a large amount for long-term investment, then always yes.

But if it’s just $10 of Bitcoin you want to use to pay for coffee, then you probably just need a “hot wallet” like Bitamp, which is accessible offline, is only accessed with a web browser so no need to install anything.

Plus is open sourced and non-custodial, so only you have access to your coins!

[bitampcom]

Will Bitcoin mining be profitable in the long term? Say 5-10 years?

The age-old question. Now at the next halving, it’s only 3+ BTC per new block. Halved. But if we’re looking at mining being profitable at 6+ BTC when it was around $10,000 then it stands to reason it’ll be profitable for 4 more years after the next halving at $20k. Which we are way beyond now. So that’s at least 7 years more of profitable mining.

[Stalker22]

Will Bitcoin mining be profitable in the long term? Say 5-10 years?

The age-old question. Now at the next halving, it’s only 3+ BTC per new block. Halved. But if we’re looking at mining being profitable at 6+ BTC when it was around $10,000 then it stands to reason it’ll be profitable for 4 more years after the next halving at $20k. Which we are way beyond now. So that’s at least 7 years more of profitable mining.

In my view, mining is going to be profitable for at least some of the miners, whatever the price. Especially if that someone pays a low fee for the electricity.
Of course, large mining farms will always have an advantage (bulk equipment buying, competitive electricity rates, more efficient infrastructure).

[bitampcom]

Will everyone resort to Bitcoin?

Not everyone has ever resorted to using any currency ever created in the past — any of the hundreds of fiat, gold or precious metal, or any kind of digital money.

But Bitcoin is already possibly the currency most widely accepted in the world, and easiest to buy and sell globally. US dollar might be the world’s favorite one, but regular people can’t easily access it, whereas you could buy (and sell) BTC almost instantly online now from wherever you are!