Topic: Bitcoin doubts for an average person - page 2. (Read 1535 times)

 Get a Trezor.

Don't doubt bitcoin my friend this current shake is not enough to hurt it, it's going to the moon and beyond 800$ per coin.

Well if you want a paper wallet, I actually recommend that you use https://www.bitaddress.org. The source code of their site is public, all you need to do is download a zip of it and open the site in your browser on your local computer to make sure that it is safe. Preferably you should generate the keys while offline, which is easily done by simply disconnecting from the internet (safer than being online, but not as safe as a dedicated offline machine). Through that site, you can create a paper wallet and encrypt it. Then you just send your Bitcoin there for storage.

If you use electrum, it would be as a hot wallet. You send some Bitcoin there in case you need to spend some, and send the rest to your paper wallet.

Right now I am using airbitz, but I do think it is better to use a desktop client, but as the bitcoin.org site says, most of them are vulnerable to the enviroment, or in other words the OS, I know I am being a little paranoid but it is money (I would feel better to keep my money in a place were no malware or keylogger can get it), so lets say I choose Electrum, how do I start?, I create my wallet, I buy some bitcoin, like $20 worth, then I how should I proceed?, how do I create a paper wallet? and then transfer the money to that wallet, or should I just use the same wallet, but keep a copy in paper?

I know you said paper or cold wallets are better for large amounts or money but in time maybe I will buy more and I would want to keep it secure.

Thanks all for your responses

Programming skills isn't something you should worry about.
The Bitcoin ecosystem is very well developed and popular tools are user-friendly.

Security is mostly about habits you have or how likely you are to be tricked. Nothing to do with Bitcoin itself.

Well actually you just need cheap electricity to be profitably mining with ASICs. And only the latest generation are usually profitable.

If you choose any wallet listed on https://bitcoin.org/en/choose-your-wallet, you will be safe. If you choose a desktop wallet, you will be even safer.

Nope, not at all. You can use Bitcoin just by downloading any bitcoin client and using it. You only need technical knowledge if you want to discuss the technical stuff about bitcoin and that includes what will happen in the future.

Yep.

No, Bitcoin is not just a speculative tool. It is an actual currency that people will accept. You can get more money by doing work and receiving payment in Bitcoin, just like every other currency out there.

You don't need to know how to compile software to run a Bitcoin client. Just download one from the site I gave you above and you should be good to go. If you want a lightweight wallet which doesn't use much space, I recommend that you go with Electrum.

Since you want a wallet that doesn't use too much space, I wouldn't recommend Armory. You would need to also install Bitcoin Core and download the entire blockchain, which is 60+ Gb. AFAIK goatpig doesn't have access to a Mac so he can't compile the Mac versions. The instructions for building it for Mac are pretty specific: https://github.com/goatpig/BitcoinArmory/blob/master/osxbuild/OSX_build_notes.md.

If you storing a large amount of Bitcoin, it is recommended that you use a paper wallet or cold storage wallet. Cold storage is easier for more frequent use while paper wallets are better for keeping Bitcoin in one place for a few years. Generally though, you will have a hot wallet of a little bit of Bitcoin for spending.

Hi, I have been reading a lot about bitcoin, and I still have some doubts, but from what I have been reading I know some things:

- Mining is not profitable even on ASICs, (maybe it is if you have lots of them, and cheap or free electricity)
- Depending on the wallet that you choose you can be highly vulnerable to get your money stolen.
- It seems that you need to have some kinda advanced programing knowledge.
- Faucets are a waste of time, you only get dust.
- Buying bitcoins is the only way to get more money by selling them when the price raise.

But I still do not know some things (I dont know how to compile a software, I have a macbook air and a desktop windows pc):
' I dont have too much space on my mac, maybe 40 Gb to spare and 20 gb on desktop

- As I was reading it seems that armory is the most secure wallet, but now is been developed
 by goatpig and he doesnt release a dmg file just some files to compile it, and I am a total noob on that, so if someone could help me but in like baby steps ,it would be great.

- I was reading that either on armory or in another wallet, it is highly recommended to create a paper wallet or cold storage wallet, I dont have another pc with offline conection, so it is recommended to use a paper wallet? if I cant get a cold storage wallet, would that be enough, doing something like this, buy bitcoins, and then just keep them on a paper wallet, and if I need them I just transfer all or just a few them later, to another wallet or the same, as I said I dont know too much about this.

I could not find all this info, or at least not so clear for someone like me that doesnt know to much about programing.

Thanks in advance