It's never too late to get into Bitcoin! Buying now and seeing BTC go back to ATH already will make you over 30%, and that's just short term. Institutionals believe in 6-figure value long term.
But always invest what you can afford to lose, like any other investment.
And with Bitcoin, make sure you store it in a non-custodial wallet. Start small with Bitamp and Electrum to learn the ropes, before upgrading to a hardware wallet.
Agree or disagree?
Topic: Bitamp Bitcoin Web Wallet - Send & Receive Bitcoin Instantly! - page 9. (Read 13678 times)
January 21, 2021, 03:08:28 AM
January 20, 2021, 05:11:01 AM
What is the safest crypto wallet for a person in an authorized country (which does not get identified based on location and thus gets frozen)?
You want an independent wallet or client then, one that isn’t centralized (that is, not owned or managed by a single entity or company or authority). Try Bitamp or Electrum. Both are open source (so you can self verify they do what they say they do), both never ever ask you for any information as to your identity, nor do either collect any information about you.
You want an independent wallet or client then, one that isn’t centralized (that is, not owned or managed by a single entity or company or authority). Try Bitamp or Electrum. Both are open source (so you can self verify they do what they say they do), both never ever ask you for any information as to your identity, nor do either collect any information about you.
January 19, 2021, 02:08:49 AM
I just got into crypto via Coinbase. How do I protect it?
First. Use a real Bitcoin wallet. I recommend Bitamp to learn the ropes, to understand what it means to be the sole controller of your private keys and seed phrase (so no one else, including Coinbase can ever seize your BTC). Then move on to something like Electrum with advanced features like coin control.
And then migrate to a hardware wallet like Ledger or Trezor.
The only way to truly protect your Bitcoin is to be the sole master of your destiny with a non-custodial wallet;)
First. Use a real Bitcoin wallet. I recommend Bitamp to learn the ropes, to understand what it means to be the sole controller of your private keys and seed phrase (so no one else, including Coinbase can ever seize your BTC). Then move on to something like Electrum with advanced features like coin control.
And then migrate to a hardware wallet like Ledger or Trezor.
The only way to truly protect your Bitcoin is to be the sole master of your destiny with a non-custodial wallet;)
January 18, 2021, 01:39:47 AM
Just a reminder to everyone, keep your private keys and your seed phrases intact and safe. Just read about this computer programmer who somehow forgot the password to his stash of coins. This wouldn't have been a problem if he'd only had his private key;)
https://www.bbc.co.uk/news/technology-55645408
https://www.bbc.co.uk/news/technology-55645408
January 17, 2021, 04:59:22 AM
Did you know that Bitcoin addresses were originally adviced to be use only once?
Yes, but a growing number of owners still use the same address indefinitely. Personally, I like to use different addresses for different services. For example, I use one address for small expenses, another for gambling, and so on.
I think it's too complicated to use a different address for just about every transaction. I would very quickly lose track of where I used which address.
Most wallets will display all recently used addresses, including or especially those with balances. You can see all those in Bitamp wallet, for example. And then move (consolidate) all those inputs into a single address later.
January 16, 2021, 09:45:35 AM
Did you know that Bitcoin addresses were originally adviced to be use only once?
Yes, but a growing number of owners still use the same address indefinitely. Personally, I like to use different addresses for different services. For example, I use one address for small expenses, another for gambling, and so on.
I think it's too complicated to use a different address for just about every transaction. I would very quickly lose track of where I used which address.
January 16, 2021, 08:46:53 AM
Did you know that Bitcoin addresses were originally adviced to be use only once? And in fact, on some guidances including on the Bitcoin wiki, you're still recommended to treat addresses as single-use? What do you think?
January 15, 2021, 06:19:54 AM
What's the biggest crypto downside?
I would say that biggest crypto downside are transactions fees that can go very high like we see now, and I am not sure most people even understand how crypto works.
I think that holding a private keys is big advantage, but other people in the world probably don't care much about that and they are happy keeping fiat money in the bank, and they don't want to use their head and concern about private keys.
That is a fair point, although in the near future we can expect a lot of Layer 2 solutions becoming user friendly. Then cost and scalability will be a thing of the past. Not quite there yet, but it's getting there.
As you said, most people don't care, but they will when they've got bitten...
January 14, 2021, 02:34:52 PM
What's the biggest crypto downside?
I would say that biggest crypto downside are transactions fees that can go very high like we see now, and I am not sure most people even understand how crypto works.
I think that holding a private keys is big advantage, but other people in the world probably don't care much about that and they are happy keeping fiat money in the bank, and they don't want to use their head and concern about private keys.
January 14, 2021, 01:45:25 AM
What's the biggest crypto downside?
We don’t think there is any that isn’t worth the upside.
Crypto means complete and utter freedom over how you control your money. With wallets like Bitamp that give you sole access to your private keys, no one else can touch your money, or withold it, or freeze your transactions.
Of course, this means, if you lose it, no one can help you recover it. That’s probably the biggest downside, but it’s definitely worth it.
Agree or disagree?
We don’t think there is any that isn’t worth the upside.
Crypto means complete and utter freedom over how you control your money. With wallets like Bitamp that give you sole access to your private keys, no one else can touch your money, or withold it, or freeze your transactions.
Of course, this means, if you lose it, no one can help you recover it. That’s probably the biggest downside, but it’s definitely worth it.
Agree or disagree?
January 13, 2021, 08:17:29 AM
Bitcoiners old and new are asking each other now, will this rally last?
We believe won’t be a cyclical repeat of past parabolic runs. This time, it is institutional money and not retail, that is laying the foundations for firmer, more stable growth. What do you think?
We believe won’t be a cyclical repeat of past parabolic runs. This time, it is institutional money and not retail, that is laying the foundations for firmer, more stable growth. What do you think?
January 12, 2021, 12:06:27 PM
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.
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).
That's always been the case for at least the past 2 halvings, hasn't it! And with altcoins merged mined, and all kinds of others to switch to during unprofitable Bitcoin times, we can definitely expect the industry to thrive for many more years to come!
January 11, 2021, 11:04:54 AM
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!
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!
January 09, 2021, 05:47:45 PM
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.
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).
January 09, 2021, 02:15:41 PM
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.
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.
January 08, 2021, 02:57:53 AM
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!
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!
January 07, 2021, 09:10:03 AM
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!
Exciting times for all, but always remember, not your keys, not your coins!
January 06, 2021, 02:45:39 AM
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.
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.
January 05, 2021, 03:16:24 AM
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.
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.
January 04, 2021, 11:22:46 AM
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.
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.
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