text
stringlengths 0
36.7k
| label
stringclasses 46
values | dataType
stringlengths 0
36.7k
| communityName
stringclasses 46
values | datetime
stringclasses 520
values |
|---|---|---|---|---|
Read the getting started links in the sidebar. | r/bitcoin | Read the getting started links in the sidebar. | r/Bitcoin | 2024-23-05 |
£5,400 in BTC. Not too shabby OP, no wonder you’re feeling a little nervous. All that BTC sitting on the exchange that could be HACKED at any moment. 😱
The good thing for you is with a little bit of research, you’ll start to gain an understanding of wallets.
For the amount of Bitcoin you own, I would recommended you investing in a hardware wallet (HWW). A Jade HWW is only £54, that’s literally a 1% cost to your current stack for a 100% improvement in your Bitcoin security, it’s also really easy to use, and beginner friendly.
Don’t rush things, do the research to understand what a Bitcoin wallet is. Don’t use a hot wallet, use a cold one.
Trezor has a great FAQ section that can guide you through what a HWW is and how they work etc. | r/bitcoin | £5,400 in BTC. Not too shabby OP, no wonder you’re feeling a little nervous. All that BTC sitting on the exchange that could be HACKED at any moment. 😱
The good thing for you is with a little bit of research, you’ll start to gain an understanding of wallets.
For the amount of Bitcoin you own, I would recommended you investing in a hardware wallet (HWW). A Jade HWW is only £54, that’s literally a 1% cost to your current stack for a 100% improvement in your Bitcoin security, it’s also really easy to use, and beginner friendly.
Don’t rush things, do the research to understand what a Bitcoin wallet is. Don’t use a hot wallet, use a cold one.
Trezor has a great FAQ section that can guide you through what a HWW is and how they work etc. | r/Bitcoin | 2024-23-05 |
You can do cold storage with electrum. Just use an old computer.
https://electrum.readthedocs.io/en/latest/coldstorage.html
It's a great wallet. | r/bitcoin | You can do cold storage with electrum. Just use an old computer.
https://electrum.readthedocs.io/en/latest/coldstorage.html
It's a great wallet. | r/Bitcoin | 2024-23-05 |
Trezor is a solid wallet | r/bitcoin | Trezor is a solid wallet | r/Bitcoin | 2024-23-05 |
Yo! For real dude what is happening. This was a fun experiment. I’m just trying to get my Bitcoin offline. I got fifty messages | r/bitcoin | Yo! For real dude what is happening. This was a fun experiment. I’m just trying to get my Bitcoin offline. I got fifty messages | r/Bitcoin | 2024-23-05 |
Cold Card hardware wallets (Mark 4 or “Q”) and learn how to use them from BTCSessions on YouTube (and self-custody in general). | r/bitcoin | Cold Card hardware wallets (Mark 4 or “Q”) and learn how to use them from BTCSessions on YouTube (and self-custody in general). | r/Bitcoin | 2024-23-05 |
You will more than likely require an act of God to retrieve your coins from CB. | r/bitcoin | You will more than likely require an act of God to retrieve your coins from CB. | r/Bitcoin | 2024-23-05 |
Ask ChatGPT | r/bitcoin | Ask ChatGPT | r/Bitcoin | 2024-23-05 |
Yup... don't interact w any of them
Plus side, you've got front row seats for how scams start... do you have DMs from coinbase support? | r/bitcoin | Yup... don't interact w any of them
Plus side, you've got front row seats for how scams start... do you have DMs from coinbase support? | r/Bitcoin | 2024-23-05 |
Go to r/bitcoinbeginners for some easier to digest advice.
And congrats on your stack, however, hard numbers get criminals hard,so watch out for dm's and dick pics.
Edit. Exodus hot wallet (mobile phone wallet) is decent and easy to maneuver. I believe it pairs with trezor for when youre ready for the cold wallet step. Im sure someone smarter and better looking than myself can take it from here | r/bitcoin | Go to r/bitcoinbeginners for some easier to digest advice.
And congrats on your stack, however, hard numbers get criminals hard,so watch out for dm's and dick pics.
Edit. Exodus hot wallet (mobile phone wallet) is decent and easy to maneuver. I believe it pairs with trezor for when youre ready for the cold wallet step. Im sure someone smarter and better looking than myself can take it from here | r/Bitcoin | 2024-23-05 |
What are your thoughts on vault wallets | r/bitcoin | What are your thoughts on vault wallets | r/Bitcoin | 2024-23-05 |
Nah. They have firmware updates. The model T came out in 2018 and the safe 3 just came out last year. Only difference between the hardware wallets is the chip for security.
I’m sure some people are rocking the model one still which is even older. | r/bitcoin | Nah. They have firmware updates. The model T came out in 2018 and the safe 3 just came out last year. Only difference between the hardware wallets is the chip for security.
I’m sure some people are rocking the model one still which is even older. | r/Bitcoin | 2024-23-05 |
Okay, first of all understand you don't even need a wallet. A wallet is software used to SEND transactions. Since you are going to be sending from Coinbase to your own address, you don't need a wallet because Coinbase is the wallet you are using to send this transaction. All you need is an address to send it to (and of course the associated private key for that address).
So forget wallets, you can look that stuff up later at your leisure. You only need a wallet when you want to send your Bitcoin again, from your address to somewhere else.
So all you need to do is generate a bitcoin key pair. You'll get a private key and a public address from this. The public address is where you send the bitcoin - from Coinbase to that address. And the private key is the thing you have to keep, and keep safe and secure, else you lose your bitcoin. So just to be clear, the private key is like a lock to your bitcoin vault, and if you lose it you lose your bitcoin, and if someone else gets ahold of it they can take your bitcoin.
I pointed out that you don't need a wallet, but you do need a way to generate an address. You can use a tool specifically for it. I've used [bitaddress.org](http://bitaddress.org) before, I download it from their github, turn off my wifi, open it up on my computer to run it offline and create the key pair, write the keys (the private key and the public address) down, then delete the application since I don't need it anymore. Or, you can actually download a wallet and use its built-in key generation tool. My point earlier about skipping the wallet was just to point out you don't actually need a wallet now, wallets are used for sending transactions, you don't need any software to receive a transaction because the bitcoin network already handles that - your bitcoin "lives" in the blockchain, not in your wallet application. Anyway, once you have your private key and public address created, and you've written it down or in some way stored it safely, you just go on Coinbase and send a transaction from Coinbase to your public address.
So to make it sound simpler:
1. Use a bitcoin address generator tool to create a private key and public address
2. Write down your private key and public address somewhere and keep them safe. Make sure to never lose or give away the private key!
3. Go on Coinbase and send a transaction to the public address you created.
4. Done! Now you can go to a bitcoin block explorer website (just google that term) and type your public address (NOT the private key!) into the website and you can wait around to see when your transaction gets a few confirmations and it'll show your bitcoin at your new address. This will likely take 30-60 minutes. | r/bitcoin | Okay, first of all understand you don't even need a wallet. A wallet is software used to SEND transactions. Since you are going to be sending from Coinbase to your own address, you don't need a wallet because Coinbase is the wallet you are using to send this transaction. All you need is an address to send it to (and of course the associated private key for that address).
So forget wallets, you can look that stuff up later at your leisure. You only need a wallet when you want to send your Bitcoin again, from your address to somewhere else.
So all you need to do is generate a bitcoin key pair. You'll get a private key and a public address from this. The public address is where you send the bitcoin - from Coinbase to that address. And the private key is the thing you have to keep, and keep safe and secure, else you lose your bitcoin. So just to be clear, the private key is like a lock to your bitcoin vault, and if you lose it you lose your bitcoin, and if someone else gets ahold of it they can take your bitcoin.
I pointed out that you don't need a wallet, but you do need a way to generate an address. You can use a tool specifically for it. I've used [bitaddress.org](http://bitaddress.org) before, I download it from their github, turn off my wifi, open it up on my computer to run it offline and create the key pair, write the keys (the private key and the public address) down, then delete the application since I don't need it anymore. Or, you can actually download a wallet and use its built-in key generation tool. My point earlier about skipping the wallet was just to point out you don't actually need a wallet now, wallets are used for sending transactions, you don't need any software to receive a transaction because the bitcoin network already handles that - your bitcoin "lives" in the blockchain, not in your wallet application. Anyway, once you have your private key and public address created, and you've written it down or in some way stored it safely, you just go on Coinbase and send a transaction from Coinbase to your public address.
So to make it sound simpler:
1. Use a bitcoin address generator tool to create a private key and public address
2. Write down your private key and public address somewhere and keep them safe. Make sure to never lose or give away the private key!
3. Go on Coinbase and send a transaction to the public address you created.
4. Done! Now you can go to a bitcoin block explorer website (just google that term) and type your public address (NOT the private key!) into the website and you can wait around to see when your transaction gets a few confirmations and it'll show your bitcoin at your new address. This will likely take 30-60 minutes. | r/Bitcoin | 2024-23-05 |
Second this. Coldcard was my first hardware wallet, and I learnt so much how bitcoin works by experiment with this wallet and do it in a secure way. I do use sparrow as a bridge between exchange and coldcard. | r/bitcoin | Second this. Coldcard was my first hardware wallet, and I learnt so much how bitcoin works by experiment with this wallet and do it in a secure way. I do use sparrow as a bridge between exchange and coldcard. | r/Bitcoin | 2024-23-05 |
Trezor safe 3 from the official website only. Watch btc sessions YT vid. | r/bitcoin | Trezor safe 3 from the official website only. Watch btc sessions YT vid. | r/Bitcoin | 2024-23-05 |
Get a cold card.
Watch some YouTube videos on how to use it.
Test a small transaction to your cold card and then back to coinbase.
Make sure you have a good offline backup preferably on steel not paper and hide it well.
Never plug your cold card into a computer. Use the SD card.
And then you are ready to transfer your funds from coinbase to your own wallet. | r/bitcoin | Get a cold card.
Watch some YouTube videos on how to use it.
Test a small transaction to your cold card and then back to coinbase.
Make sure you have a good offline backup preferably on steel not paper and hide it well.
Never plug your cold card into a computer. Use the SD card.
And then you are ready to transfer your funds from coinbase to your own wallet. | r/Bitcoin | 2024-23-05 |
Buying a ledger is a sign of inexperience. | r/bitcoin | Buying a ledger is a sign of inexperience. | r/Bitcoin | 2024-23-05 |
Straight to cold card, baby, passphrase and air gaaaap | r/bitcoin | Straight to cold card, baby, passphrase and air gaaaap | r/Bitcoin | 2024-23-05 |
How.. it adds an additional layer of security | r/bitcoin | How.. it adds an additional layer of security | r/Bitcoin | 2024-23-05 |
The most sensible post I've read on this sub | r/bitcoin | The most sensible post I've read on this sub | r/Bitcoin | 2024-23-05 |
Turn off the DM box in the settings. | r/bitcoin | Turn off the DM box in the settings. | r/Bitcoin | 2024-23-05 |
Because Ledger can't be trusted. It is possible for the private keys to leave the "secure" chip. We are just trusting them not to abuse this. | r/bitcoin | Because Ledger can't be trusted. It is possible for the private keys to leave the "secure" chip. We are just trusting them not to abuse this. | r/Bitcoin | 2024-23-05 |
Go on YouTube and learn about bitcoin digital wallet. Start learning on ur own instead of trying to get hand outs with knowledge. Seek it urself. | r/bitcoin | Go on YouTube and learn about bitcoin digital wallet. Start learning on ur own instead of trying to get hand outs with knowledge. Seek it urself. | r/Bitcoin | 2024-23-05 |
Everyone is born dumb. Do not stay dumb. Increase your knowledge on Bitcoin daily or else you will eventually lose it all. Buy a hardware wallet. Do the research yourself so it sticks in your mind forever. | r/bitcoin | Everyone is born dumb. Do not stay dumb. Increase your knowledge on Bitcoin daily or else you will eventually lose it all. Buy a hardware wallet. Do the research yourself so it sticks in your mind forever. | r/Bitcoin | 2024-23-05 |
I have three ledgers. Along with every other HWW. I've been here since 2017. Saying "buying ledger is a sign of inexperience" is a sign of inexperience to me. It tells me you got in post cold card when they ran their anti-ledger propaganda and you fell for it. Show me someone who's lost funds with a ledger due to any of the trash we hear about it.
You can use ledgers as a beginner, completely hand-held or an experienced user with max privacy. | r/bitcoin | I have three ledgers. Along with every other HWW. I've been here since 2017. Saying "buying ledger is a sign of inexperience" is a sign of inexperience to me. It tells me you got in post cold card when they ran their anti-ledger propaganda and you fell for it. Show me someone who's lost funds with a ledger due to any of the trash we hear about it.
You can use ledgers as a beginner, completely hand-held or an experienced user with max privacy. | r/Bitcoin | 2024-23-05 |
Ledger CEO openly admitted that the keys can leave the secure chip. Ledger recover could not work without it leaving the secure chip.
Lots of people lost funds from the ledger blind signing hack. That is another story though.
The main point is that private keys can leave your device. You are trusting Ledger not to abuse that fact. I would rather not trust any company. | r/bitcoin | Ledger CEO openly admitted that the keys can leave the secure chip. Ledger recover could not work without it leaving the secure chip.
Lots of people lost funds from the ledger blind signing hack. That is another story though.
The main point is that private keys can leave your device. You are trusting Ledger not to abuse that fact. I would rather not trust any company. | r/Bitcoin | 2024-23-05 |
Download the coinbase wallet app. Save your passcodes somewhere safe. I believe the coinbase app makes it very easy to connect to the coinbase wallet app but I forget | r/bitcoin | Download the coinbase wallet app. Save your passcodes somewhere safe. I believe the coinbase app makes it very easy to connect to the coinbase wallet app but I forget | r/Bitcoin | 2024-23-05 |
Keys never touch a network with the passport wallet, is my understanding. Correct me if I’m wrong. | r/bitcoin | Keys never touch a network with the passport wallet, is my understanding. Correct me if I’m wrong. | r/Bitcoin | 2024-23-05 |
Do you plug the device into a network-connected computer via the USB port? Ask yourself those questions in the thought experiment.
> is my understanding
This is the vulnerability. You don't know. You can't know. You're trusting that the device hasn't been designed incorrectly, or correctly, or modified, or had any of its hardware replaced, or any had this happen to any one of its suppliers. In a device that is specifically designed to hold bitcoin keys. Is it better than other methods of storing keys? Yes. Most people should fear user error more than anything else. But is it better than cold storage? No. Because cold storage, that is keys never touching a network connected computer, mitigates a specific vulnerability; Compromising your keys remotely. I provided links there so you can see what a cold storage solution looks like.
Hardware wallet marketing departments can talk as much as they want. But if you plug a device that holds your keys into a network connected computer, it isn't cold storage. | r/bitcoin | Do you plug the device into a network-connected computer via the USB port? Ask yourself those questions in the thought experiment.
> is my understanding
This is the vulnerability. You don't know. You can't know. You're trusting that the device hasn't been designed incorrectly, or correctly, or modified, or had any of its hardware replaced, or any had this happen to any one of its suppliers. In a device that is specifically designed to hold bitcoin keys. Is it better than other methods of storing keys? Yes. Most people should fear user error more than anything else. But is it better than cold storage? No. Because cold storage, that is keys never touching a network connected computer, mitigates a specific vulnerability; Compromising your keys remotely. I provided links there so you can see what a cold storage solution looks like.
Hardware wallet marketing departments can talk as much as they want. But if you plug a device that holds your keys into a network connected computer, it isn't cold storage. | r/Bitcoin | 2024-23-05 |
talking about investing in bitcoin and trying to persuade people through investment lenses is framing it totally wrong and missing the point
**bitcoin is a way out**, not some investment asset. entry price, gains, and other wanna be sophisticated finance speak investor jargon is priced in fiat monopoly money
its like saying "**gee, I can get more monopoly money if I sell my real money**"
**"I can be a consumer and buy more stuff I don't really need"**
pfff like what? **my plan is not to accumulate more monopoly money: its to get the fudge out of this sick system** that fuels endless wars, theft through inflation, confiscation
to paraphrase Andreas Antonopulous: [our current financial system exists"so the first world bourgeoise can live in a false sense of security, while the majority of the world suffers the consequences](https://www.youtube.com/watch?v=Pkgo05Hdnfg)"
Want some practical examples? forget the fact 80% of the world doesn't get banking services (video above): things like [exporting inflation](https://whatismoney.info/exporting-inflation/#:~:text=Through%20international%20trade%20conducted%20in,which%20export%20to%20the%20US) so Americans can obnoxiously consume at artificially deflated prices, [the petrodollar regime](https://mises.org/mises-wire/why-end-petrodollar-spells-trouble-us-regime) which plays a huge role in ensuring US hegemoy, [monetary colonial regimes](https://bitcoinmagazine.com/culture/bitcoin-a-currency-of-decolonization) that perpetuate colonialism and are a big cause as to why much of Africa is a basket case.
if you want to invest, go purchase stocks, but if you are really into bitcoin, its because you want out. not to invest to make "gains", because that is saying you want to leave the matrix, to consume more things within the matrix:
everyone can act as they please, but anyone espousing an ethos of self determination and freedom can only hold someone in contempt who talks about "investing in bitcoin"
the only thing worth investing in is your freedom. I buy bitcoin when it dips, when it rallies, whenever I have spare cash. timing the market is for people who are thinking about making gains in a fake money that we have been collectively brainwashed into accepting.
[dont be the guy from the matrix who wishes he took the blue pill](https://www.youtube.com/watch?v=_Wgn0KlSHl4). that is who you are when you talk about "investing in bitcoin"
opt out. give the government the middle finger, or be a consumer shmuck and live to consume and enjoy your empty, meaningless hedonistic life, as your life force is drained by the cocktail of inflation and addictive consumption to fill the void in your soul
if you have some emergency that can only be paid for by selling bitcoin, ok, that's a whole other thing, but that's nothing to do with "investment"
opt. the fuck. out. | r/bitcoin | talking about investing in bitcoin and trying to persuade people through investment lenses is framing it totally wrong and missing the point
**bitcoin is a way out**, not some investment asset. entry price, gains, and other wanna be sophisticated finance speak investor jargon is priced in fiat monopoly money
its like saying "**gee, I can get more monopoly money if I sell my real money**"
**"I can be a consumer and buy more stuff I don't really need"**
pfff like what? **my plan is not to accumulate more monopoly money: its to get the fudge out of this sick system** that fuels endless wars, theft through inflation, confiscation
to paraphrase Andreas Antonopulous: [our current financial system exists"so the first world bourgeoise can live in a false sense of security, while the majority of the world suffers the consequences](https://www.youtube.com/watch?v=Pkgo05Hdnfg)"
Want some practical examples? forget the fact 80% of the world doesn't get banking services (video above): things like [exporting inflation](https://whatismoney.info/exporting-inflation/#:~:text=Through%20international%20trade%20conducted%20in,which%20export%20to%20the%20US) so Americans can obnoxiously consume at artificially deflated prices, [the petrodollar regime](https://mises.org/mises-wire/why-end-petrodollar-spells-trouble-us-regime) which plays a huge role in ensuring US hegemoy, [monetary colonial regimes](https://bitcoinmagazine.com/culture/bitcoin-a-currency-of-decolonization) that perpetuate colonialism and are a big cause as to why much of Africa is a basket case.
if you want to invest, go purchase stocks, but if you are really into bitcoin, its because you want out. not to invest to make "gains", because that is saying you want to leave the matrix, to consume more things within the matrix:
everyone can act as they please, but anyone espousing an ethos of self determination and freedom can only hold someone in contempt who talks about "investing in bitcoin"
the only thing worth investing in is your freedom. I buy bitcoin when it dips, when it rallies, whenever I have spare cash. timing the market is for people who are thinking about making gains in a fake money that we have been collectively brainwashed into accepting.
[dont be the guy from the matrix who wishes he took the blue pill](https://www.youtube.com/watch?v=_Wgn0KlSHl4). that is who you are when you talk about "investing in bitcoin"
opt out. give the government the middle finger, or be a consumer shmuck and live to consume and enjoy your empty, meaningless hedonistic life, as your life force is drained by the cocktail of inflation and addictive consumption to fill the void in your soul
if you have some emergency that can only be paid for by selling bitcoin, ok, that's a whole other thing, but that's nothing to do with "investment"
opt. the fuck. out. | r/Bitcoin | 2024-22-05 |
BTC has a fixed total amount. since only 6% of BTC is left to be mined, the effect of mining is minimal. Its demand that matters | r/bitcoin | BTC has a fixed total amount. since only 6% of BTC is left to be mined, the effect of mining is minimal. Its demand that matters | r/Bitcoin | 2024-22-05 |
Similar content has already been submitted several times. Please check the front page of r/Bitcoin and r/Bitcoin/new for previous submissions to help keep repetition to a minimum. You can also try using the search bar. Thank you.
^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions. | r/bitcoin | Similar content has already been submitted several times. Please check the front page of r/Bitcoin and r/Bitcoin/new for previous submissions to help keep repetition to a minimum. You can also try using the search bar. Thank you.
^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions. | r/Bitcoin | 2024-22-05 |
if BTC goes exponential, mining payouts will still be worth it.
if it flattens out, transaction fees become dominant.
if both aren't enough to pay for your electricity bill, you stop mining.
if you stop mining, the difficulty drops, and and so do the costs for miners that didn't drop out.
It's self-regulating. | r/bitcoin | if BTC goes exponential, mining payouts will still be worth it.
if it flattens out, transaction fees become dominant.
if both aren't enough to pay for your electricity bill, you stop mining.
if you stop mining, the difficulty drops, and and so do the costs for miners that didn't drop out.
It's self-regulating. | r/Bitcoin | 2024-22-05 |
Doesn’t the cost to mine correlate to how many miners there are? So it doesn’t HAVE to double. It’s one factor. Another factor is the expectation that it will double based on past performance but that doesn’t HAVE to happen. Ultimately yes it’s just demand and supply but each halving is less impactful to the existing supply. Big institutions want a secure store of value and bitcoin is making a name for it for those that look long term and can escape the paradigms of old value stores.
But I’m just a crayon eating idiot that knows nothing so probably ignore the above. | r/bitcoin | Doesn’t the cost to mine correlate to how many miners there are? So it doesn’t HAVE to double. It’s one factor. Another factor is the expectation that it will double based on past performance but that doesn’t HAVE to happen. Ultimately yes it’s just demand and supply but each halving is less impactful to the existing supply. Big institutions want a secure store of value and bitcoin is making a name for it for those that look long term and can escape the paradigms of old value stores.
But I’m just a crayon eating idiot that knows nothing so probably ignore the above. | r/Bitcoin | 2024-22-05 |
This is a fair take on transaction fees, but explain your opinion to me how it is sustainable to entice miners to operate for transaction fees.
Are we suggesting that BTC will get to a value either in exchange or as a currency that sats/vbyte even being minimal Satoshi’s will be profitable.
Or
Are we suggesting that only huge transactions will be economical enough to entice miners to the fees. This scenario is a huge problem in my opinion.
Or
Will a scaling solution take place so one of the two above can be facilitated. | r/bitcoin | This is a fair take on transaction fees, but explain your opinion to me how it is sustainable to entice miners to operate for transaction fees.
Are we suggesting that BTC will get to a value either in exchange or as a currency that sats/vbyte even being minimal Satoshi’s will be profitable.
Or
Are we suggesting that only huge transactions will be economical enough to entice miners to the fees. This scenario is a huge problem in my opinion.
Or
Will a scaling solution take place so one of the two above can be facilitated. | r/Bitcoin | 2024-22-05 |
Your submission has been flagged for removal because it pertains primarily to altcoin discussion and/or promotion. Altcoins are off topic for the Bitcoin subreddit. Please post in the subreddit appropriate to that altcoin instead. Thank you.
^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions. | r/bitcoin | Your submission has been flagged for removal because it pertains primarily to altcoin discussion and/or promotion. Altcoins are off topic for the Bitcoin subreddit. Please post in the subreddit appropriate to that altcoin instead. Thank you.
^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions. | r/Bitcoin | 2024-23-05 |
r/bitcoin | r/Bitcoin | 2024-22-05 |
||
Happy Bitcoin Pizza Day | r/bitcoin | Happy Bitcoin Pizza Day | r/Bitcoin | 2024-22-05 |
Finally someone who purchased a pizza.
Too many users posting homemade sludge and calling it pizza. The poors. They’re the poors larping. | r/bitcoin | Finally someone who purchased a pizza.
Too many users posting homemade sludge and calling it pizza. The poors. They’re the poors larping. | r/Bitcoin | 2024-23-05 |
I saw our RMB investors miss three important letters in their advert, but ESG is also cool and I'm a law abiding citizen. What I found really cool is a local exchange sporting some bright bitcoin colors. | r/bitcoin | I saw our RMB investors miss three important letters in their advert, but ESG is also cool and I'm a law abiding citizen. What I found really cool is a local exchange sporting some bright bitcoin colors. | r/Bitcoin | 2024-22-05 |
r/bitcoin | r/Bitcoin | 2024-22-05 |
||
So naturally now that the Dems support it the Republicans will do a full reversal 🤣
I kid of course, glad to see crypto crossing the isle | r/bitcoin | So naturally now that the Dems support it the Republicans will do a full reversal 🤣
I kid of course, glad to see crypto crossing the isle | r/Bitcoin | 2024-22-05 |
204 yeighs to 203 neighs, with 10 no votes | r/bitcoin | 204 yeighs to 203 neighs, with 10 no votes | r/Bitcoin | 2024-22-05 |
The beautiful thing about bitcoin is once a large chunk of both sides are HODLing, they won’t play political theatre with it anymore and flip-flop. That’s because Bitcoin is one of the first assets where nearly everyone has access and all who hold it have a mutually beneficial interest in its success. | r/bitcoin | The beautiful thing about bitcoin is once a large chunk of both sides are HODLing, they won’t play political theatre with it anymore and flip-flop. That’s because Bitcoin is one of the first assets where nearly everyone has access and all who hold it have a mutually beneficial interest in its success. | r/Bitcoin | 2024-22-05 |
So to keep it shor is this good or bad for us? | r/bitcoin | So to keep it shor is this good or bad for us? | r/Bitcoin | 2024-22-05 |
Are you saying that "Bitcoin fixes this"? | r/bitcoin | Are you saying that "Bitcoin fixes this"? | r/Bitcoin | 2024-23-05 |
C’mon for real ? | r/bitcoin | C’mon for real ? | r/Bitcoin | 2024-23-05 |
I do not know if I should be optimistic or pessimistic about the approval. Here is joke if it’s bad , I am going to nickname it “FTX-21”🤣🥴🥴 | r/bitcoin | I do not know if I should be optimistic or pessimistic about the approval. Here is joke if it’s bad , I am going to nickname it “FTX-21”🤣🥴🥴 | r/Bitcoin | 2024-23-05 |
Very useful. Thanks!
I was just wondering what this bill was about. | r/bitcoin | Very useful. Thanks!
I was just wondering what this bill was about. | r/Bitcoin | 2024-23-05 |
Bitcoin solve the US hunger problem | r/bitcoin | Bitcoin solve the US hunger problem | r/Bitcoin | 2024-23-05 |
More time to stack we don’t want bitcoin to become unaffordable too fast. Unless you feel like you have enough bitcoin already. | r/bitcoin | More time to stack we don’t want bitcoin to become unaffordable too fast. Unless you feel like you have enough bitcoin already. | r/Bitcoin | 2024-23-05 |
…why am I being downvoted for relaying the outcome of the vote? 🤷 | r/bitcoin | …why am I being downvoted for relaying the outcome of the vote? 🤷 | r/Bitcoin | 2024-23-05 |
Just need the dinosaurs in the senate to pass it | r/bitcoin | Just need the dinosaurs in the senate to pass it | r/Bitcoin | 2024-23-05 |
I’ll always want more. But at some point, I’ll want to see yet another massive bull run. | r/bitcoin | I’ll always want more. But at some point, I’ll want to see yet another massive bull run. | r/Bitcoin | 2024-23-05 |
Let that moment be a little bit later please (for those of us who stack as much as possible but still have to trade time for fiat :)) | r/bitcoin | Let that moment be a little bit later please (for those of us who stack as much as possible but still have to trade time for fiat :)) | r/Bitcoin | 2024-23-05 |
Wow, so many people here with faith in the system. Good luck | r/bitcoin | Wow, so many people here with faith in the system. Good luck | r/Bitcoin | 2024-23-05 |
Do you care only about bitcoin? Or about the philosophy that it represents? | r/bitcoin | Do you care only about bitcoin? Or about the philosophy that it represents? | r/Bitcoin | 2024-23-05 |
So when does senate vote? | r/bitcoin | So when does senate vote? | r/Bitcoin | 2024-23-05 |
Name checks out with that joke. | r/bitcoin | Name checks out with that joke. | r/Bitcoin | 2024-23-05 |
I guess because it's incorrect?
> The U.S. House vote goes 279-136 to approve the Financial Innovation and Technology for the 21st Century Act with a very strong showing from House Democrats. | r/bitcoin | I guess because it's incorrect?
> The U.S. House vote goes 279-136 to approve the Financial Innovation and Technology for the 21st Century Act with a very strong showing from House Democrats. | r/Bitcoin | 2024-23-05 |
If it is the truth - is not your fault. 🤷🏻♂️ | r/bitcoin | If it is the truth - is not your fault. 🤷🏻♂️ | r/Bitcoin | 2024-23-05 |
So ...... If you TRULY care about crypto and this country you wouldn't vote for Biden or Trump, you'd vote for RFK Jr. | r/bitcoin | So ...... If you TRULY care about crypto and this country you wouldn't vote for Biden or Trump, you'd vote for RFK Jr. | r/Bitcoin | 2024-23-05 |
You obviously didn't read the article. This bs title makes it seem like we should be grateful to the dems. Something like 95% of Republicans voted in favor meanwhile only 35% democrats did. | r/bitcoin | You obviously didn't read the article. This bs title makes it seem like we should be grateful to the dems. Something like 95% of Republicans voted in favor meanwhile only 35% democrats did. | r/Bitcoin | 2024-23-05 |
It's gotta get through the Senate now. | r/bitcoin | It's gotta get through the Senate now. | r/Bitcoin | 2024-23-05 |
No one cares about your political views. | r/bitcoin | No one cares about your political views. | r/Bitcoin | 2024-23-05 |
Yes and your second question makes no sense. Drop the "or" and replace it with "and". | r/bitcoin | Yes and your second question makes no sense. Drop the "or" and replace it with "and". | r/Bitcoin | 2024-23-05 |
Tbh, I indeed have this feeling of having enough and I don't wanna become too greedy and bitcoin becoming all-consuming. Besides, I also don't wanna ruin my relatively low dca score...lol
But having said all that, the bill still sucks for all the reasons above. | r/bitcoin | Tbh, I indeed have this feeling of having enough and I don't wanna become too greedy and bitcoin becoming all-consuming. Besides, I also don't wanna ruin my relatively low dca score...lol
But having said all that, the bill still sucks for all the reasons above. | r/Bitcoin | 2024-23-05 |
My question is phrased properly. | r/bitcoin | My question is phrased properly. | r/Bitcoin | 2024-23-05 |
Lol. Fuck off scammer. | r/bitcoin | Lol. Fuck off scammer. | r/Bitcoin | 2024-22-05 |
Is this THE Mike Reynolds? Saw your most recent video getting gang banged. I could not imagine an asshole so stretched.... | r/bitcoin | Is this THE Mike Reynolds? Saw your most recent video getting gang banged. I could not imagine an asshole so stretched.... | r/Bitcoin | 2024-22-05 |
so you own .3188BTC but earn .17 a day, so you have been doing these amazing things for 1.8 days and you are an expert? 🥴 | r/bitcoin | so you own .3188BTC but earn .17 a day, so you have been doing these amazing things for 1.8 days and you are an expert? 🥴 | r/Bitcoin | 2024-22-05 |
Understanding the subjectivity of value is crucial for grasping the true essence of bitcoin's value, illustrating that its significance, much like that of luxury watches or real estate, is deeply rooted in the collective demand and limited availability, rather than inherent properties. Carl Menger, a pioneer of the Austrian School of Economics and arguably an inspiration behind the Cypherpunks creation of Bitcoin, demonstrated already in the 19th century that prices are a reflection of subjective valuation. | r/bitcoin | Understanding the subjectivity of value is crucial for grasping the true essence of bitcoin's value, illustrating that its significance, much like that of luxury watches or real estate, is deeply rooted in the collective demand and limited availability, rather than inherent properties. Carl Menger, a pioneer of the Austrian School of Economics and arguably an inspiration behind the Cypherpunks creation of Bitcoin, demonstrated already in the 19th century that prices are a reflection of subjective valuation. | r/Bitcoin | 2024-22-05 |
Just curious? I had a conversation about this question with someone.
Since when only needed the 24 seed, you can just guess some combinations and hope you can crack someones ledger. So i guess you need the password of the old ledger too?
Thanks for making this clear | r/bitcoin | Just curious? I had a conversation about this question with someone.
Since when only needed the 24 seed, you can just guess some combinations and hope you can crack someones ledger. So i guess you need the password of the old ledger too?
Thanks for making this clear | r/Bitcoin | 2024-22-05 |
you can also calculate permutations by yourself. If you would just guess randomly, there are 24 positions and 2048 BIP39 seed words. this makes 2048^24 possible combination. | r/bitcoin | you can also calculate permutations by yourself. If you would just guess randomly, there are 24 positions and 2048 BIP39 seed words. this makes 2048^24 possible combination. | r/Bitcoin | 2024-23-05 |
Ledger have an easy app to check you have your words down right. It's called recovery check or something? Long time since I heard anyone mention it. | r/bitcoin | Ledger have an easy app to check you have your words down right. It's called recovery check or something? Long time since I heard anyone mention it. | r/Bitcoin | 2024-23-05 |
I was transferring some BTC from Jaxx Liberty to Electrum by importing my private key and I noticed that there was an immediate transaction withdrawing the BTC from my account. When I looked online at the transaction history, the transaction was already in progress by a few minutes before I had even entered it in to Electrum.
Here is the transaction link: https://www.blockchain.com/explorer/transactions/btc/d210b458169eee4b4e8c9dcb2d9eeed45ab41f02148c667cc71ee80d56b47784
Electrum gives me the option to cancel the transaction by spending more than what the fee is but is this normal because I am worried someone has accessed the wallet at the same time as myself and is now transferring it to their own wallet.
I entered my pass phrase to this website my-jaxxwallet.com a minute before this thinking it was the legitimate Jaxx Liberty wallet but it then redirected me to blog post on another website url. | r/bitcoin | I was transferring some BTC from Jaxx Liberty to Electrum by importing my private key and I noticed that there was an immediate transaction withdrawing the BTC from my account. When I looked online at the transaction history, the transaction was already in progress by a few minutes before I had even entered it in to Electrum.
Here is the transaction link: https://www.blockchain.com/explorer/transactions/btc/d210b458169eee4b4e8c9dcb2d9eeed45ab41f02148c667cc71ee80d56b47784
Electrum gives me the option to cancel the transaction by spending more than what the fee is but is this normal because I am worried someone has accessed the wallet at the same time as myself and is now transferring it to their own wallet.
I entered my pass phrase to this website my-jaxxwallet.com a minute before this thinking it was the legitimate Jaxx Liberty wallet but it then redirected me to blog post on another website url. | r/Bitcoin | 2024-22-05 |
Thank you for sharing your experience OP. It’s a good warning / learning opportunity for the community as a whole.
Please try not to beat yourself up too much. It’s easy to make a mistake in the moment and to feel foolish and full of regret in hindsight but I think it’s good that you asked for help and are taking the good advice to heart. | r/bitcoin | Thank you for sharing your experience OP. It’s a good warning / learning opportunity for the community as a whole.
Please try not to beat yourself up too much. It’s easy to make a mistake in the moment and to feel foolish and full of regret in hindsight but I think it’s good that you asked for help and are taking the good advice to heart. | r/Bitcoin | 2024-23-05 |
Get a hard wallet so you and only you are in control of it | r/bitcoin | Get a hard wallet so you and only you are in control of it | r/Bitcoin | 2024-23-05 |
I think OP might have made it since the initial scammer transaction that failed to go through went to a bech32 address, but the one that was confirmed went to a Segwit-compatible address instead. Congrats OP! Hope you still learned your lesson though. | r/bitcoin | I think OP might have made it since the initial scammer transaction that failed to go through went to a bech32 address, but the one that was confirmed went to a Segwit-compatible address instead. Congrats OP! Hope you still learned your lesson though. | r/Bitcoin | 2024-23-05 |
How the story ended up? | r/bitcoin | How the story ended up? | r/Bitcoin | 2024-23-05 |
Any update on this? Did it work? | r/bitcoin | Any update on this? Did it work? | r/Bitcoin | 2024-23-05 |
Right now if the reserve ratio is 10% a bank with $10mm in reserves can make $100mm in loans. Currently most of the money “created” is through this process.
How would that work with bitcoin? | r/bitcoin | Right now if the reserve ratio is 10% a bank with $10mm in reserves can make $100mm in loans. Currently most of the money “created” is through this process.
How would that work with bitcoin? | r/Bitcoin | 2024-22-05 |
Who else read that as $10 milli meters | r/bitcoin | Who else read that as $10 milli meters | r/Bitcoin | 2024-23-05 |
Yikes | r/bitcoin | Yikes | r/Bitcoin | 2024-23-05 |
Bitcoin isn’t replacing dollars. It’s a capital escape from dollars, which will devalue to zero for certain. | r/bitcoin | Bitcoin isn’t replacing dollars. It’s a capital escape from dollars, which will devalue to zero for certain. | r/Bitcoin | 2024-23-05 |
Governments will have their shitty pieces of paper for a looong time.
You will always be able to borrow in a currency that can be printed.
Things of value and your time and energy will have to be given to receive bitcoin | r/bitcoin | Governments will have their shitty pieces of paper for a looong time.
You will always be able to borrow in a currency that can be printed.
Things of value and your time and energy will have to be given to receive bitcoin | r/Bitcoin | 2024-23-05 |
"Reserves" have not meant "minimum funds banks are to retain, while lending the rest out" in a *very* long time.
Banks *are not* and *have not been* using a fractional reserve system for close to a century *if not more* (that goes for either central bank issued "reserves" or prudentially retained "reserves").
When banks lend, they *create* deposits.
From a 2014 report from the [Bank of England - PDF](https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf)
>In the modern economy, most money takes the form of bank deposits. But how those bank deposits are created is often misunderstood: the principal way is through commercial banks making loans. **Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money.** *The reality of how money is created today differs from the description found in some economics textbooks:* **Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits.** *In normal times, the central bank does not fix the amount of money in circulation, nor is central bank money ‘multiplied up’ into more loans and deposits.*
There goes the money multiplier. In reality, banks *do not loan out other people's money*. Even when there were reserve requirements after the late 1800's, they largely fulfilled a clearing and/or regulatory function and were not a prerequisite for bank lending (hence reserve requirements being 0 in many jurisdictions). There are no reserves being fractioned. Banks *create* deposits by lending, they do not get them from "elsewhere".
>How would that work with bitcoin?
It doesn't, not fulsomely. | r/bitcoin | "Reserves" have not meant "minimum funds banks are to retain, while lending the rest out" in a *very* long time.
Banks *are not* and *have not been* using a fractional reserve system for close to a century *if not more* (that goes for either central bank issued "reserves" or prudentially retained "reserves").
When banks lend, they *create* deposits.
From a 2014 report from the [Bank of England - PDF](https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf)
>In the modern economy, most money takes the form of bank deposits. But how those bank deposits are created is often misunderstood: the principal way is through commercial banks making loans. **Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money.** *The reality of how money is created today differs from the description found in some economics textbooks:* **Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits.** *In normal times, the central bank does not fix the amount of money in circulation, nor is central bank money ‘multiplied up’ into more loans and deposits.*
There goes the money multiplier. In reality, banks *do not loan out other people's money*. Even when there were reserve requirements after the late 1800's, they largely fulfilled a clearing and/or regulatory function and were not a prerequisite for bank lending (hence reserve requirements being 0 in many jurisdictions). There are no reserves being fractioned. Banks *create* deposits by lending, they do not get them from "elsewhere".
>How would that work with bitcoin?
It doesn't, not fulsomely. | r/Bitcoin | 2024-23-05 |
You didn't need fractional reserves to lend money. A typical bond involves you giving up your money so someone else can use it, the way loans are supposed to work.
A fractional reserve means you can still spend money you have lent out, it makes no sense and it's an excuse to expand the money supply. | r/bitcoin | You didn't need fractional reserves to lend money. A typical bond involves you giving up your money so someone else can use it, the way loans are supposed to work.
A fractional reserve means you can still spend money you have lent out, it makes no sense and it's an excuse to expand the money supply. | r/Bitcoin | 2024-23-05 |
Saving in a valuable currency will not be easy | r/bitcoin | Saving in a valuable currency will not be easy | r/Bitcoin | 2024-23-05 |
The CBDC will replace the dollar. Same old song but repackaged as the thing that saves us all. | r/bitcoin | The CBDC will replace the dollar. Same old song but repackaged as the thing that saves us all. | r/Bitcoin | 2024-23-05 |
In the same way whole life policy loans or HELOCS work. | r/bitcoin | In the same way whole life policy loans or HELOCS work. | r/Bitcoin | 2024-23-05 |
I too was wondering why OP was mentioning fractional and not loans as the method of money creation.
You don’t mention where the banks get the money, though. Sure, they can journal in a deposit, but eventually the funds are spent and sent to a different ledger.
Functionally, I know banks are simply marketing plus underwriters. They then sell the note elsewhere, which could be the government in many cases. | r/bitcoin | I too was wondering why OP was mentioning fractional and not loans as the method of money creation.
You don’t mention where the banks get the money, though. Sure, they can journal in a deposit, but eventually the funds are spent and sent to a different ledger.
Functionally, I know banks are simply marketing plus underwriters. They then sell the note elsewhere, which could be the government in many cases. | r/Bitcoin | 2024-23-05 |
There are already Bitcoin loan companies. Several of these filed for bankruptcy around the FTX fall out (my memory is hazy). This is functionally a Bitcoin secured loan (BTC > USD).
So what are you’re proposing, depositing BTC in Coinbase then they loan out 90% of their deposits?
I believe that would be possible, but the risk is immense on all sides. Paying back in BTC could be very challenging with price volatility. The bank would need to be able to sell the note and recoup their reserves. | r/bitcoin | There are already Bitcoin loan companies. Several of these filed for bankruptcy around the FTX fall out (my memory is hazy). This is functionally a Bitcoin secured loan (BTC > USD).
So what are you’re proposing, depositing BTC in Coinbase then they loan out 90% of their deposits?
I believe that would be possible, but the risk is immense on all sides. Paying back in BTC could be very challenging with price volatility. The bank would need to be able to sell the note and recoup their reserves. | r/Bitcoin | 2024-23-05 |
Thai baht. | r/bitcoin | Thai baht. | r/Bitcoin | 2024-23-05 |
Collateral?
Why do people associate all loans with printing money? | r/bitcoin | Collateral?
Why do people associate all loans with printing money? | r/Bitcoin | 2024-23-05 |
Bitcoin will never replace dollar | r/bitcoin | Bitcoin will never replace dollar | r/Bitcoin | 2024-23-05 |
The fractional reserve ratio you described shouldn't work because BTC is designed to be verified by the ledger 1:1. No ledger connects your paper with the assets being held in a bank. Which is why we had bank runs in the old days.
But loans can happen with or without fractional reserve. Bitcoin should be the end to the fraction part. Unless we let them "print paper bitcoin" which shouldn't work, on account of the ledger, though people will probably get sloppy. | r/bitcoin | The fractional reserve ratio you described shouldn't work because BTC is designed to be verified by the ledger 1:1. No ledger connects your paper with the assets being held in a bank. Which is why we had bank runs in the old days.
But loans can happen with or without fractional reserve. Bitcoin should be the end to the fraction part. Unless we let them "print paper bitcoin" which shouldn't work, on account of the ledger, though people will probably get sloppy. | r/Bitcoin | 2024-23-05 |
As I understand this is mostly the same thing though as fractional reserve basically just puts a limit on how much money can be created through loans. | r/bitcoin | As I understand this is mostly the same thing though as fractional reserve basically just puts a limit on how much money can be created through loans. | r/Bitcoin | 2024-23-05 |
And that's not an issues for banks since it's all just computer entries. | r/bitcoin | And that's not an issues for banks since it's all just computer entries. | r/Bitcoin | 2024-23-05 |
Fraction reserve banking lend money they say are still in the vaults, hence money is created. It is basically the same thing but worded differently | r/bitcoin | Fraction reserve banking lend money they say are still in the vaults, hence money is created. It is basically the same thing but worded differently | r/Bitcoin | 2024-23-05 |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.