Bitcoin explosion and ALT coins thread

Status
Not open for further replies.
Question for you guys. If Bitcoin does what you guys are projecting it will do. What will that mean for everyone else who never acquired any?
 
Todd Gack said:
Question for you guys. If Bitcoin does what you guys are projecting it will do. What will that mean for everyone else who never acquired any?
Click to expand...

Nothing. There are always dips and pumps and always opportunities. Worse thing you can do is FOMO and buying at an all time high. There are always corrections.
 
I had I think like 17 bucks worth left over from some that bought early last year.

Just checked and it’s worth about 30 now.

giphy.gif
 
Looks like another run is starting now.
 
Smoke Detector Battery said:
you're not alone. A lot of people have that FOMO thing going. I didn't mean anything derogatory. When people come into a market with your sentiment there is a good chance that it is a bubble and that the new comers might be the bag holders.
Click to expand...

It's all good. Don't worry about me, I've been missing out for decades, I'm more scared of losing.

You're right about FOMO but I think there are a lot of additional factors at play driving markets higher.

My mate has close to a million in BTC and yesterday I told him to sell a third and if it drops buy it back... right after that it plummeted.
 
axion said:
It's all good. Don't worry about me, I've been missing out for decades, I'm more scared of losing.

You're right about FOMO but I think there are a lot of additional factors at play driving markets higher.

My mate has close to a million in BTC and yesterday I told him to sell a third and if it drops buy it back... right after that it plummeted.
Click to expand...

You've got two groups of people that you need to avoid.

1. The people that got in at a cheap price
2. The people that missed out.
.
.
.

and most importantly, avoid the people that missed out and are now investing. They probably don't know why they are investing but they feel a need to justify it. Misery loves company.

You should only invest if you understand how bitcoin works and secondly, you believe BTC has a sustainable future.
 
Ethereum is blowing up it's insane. It's a little over $1400 CAD right now. It was $900 like 2 days ago.

I wish I had bought more than just $150 worth lol.
 
For those of you who have been in this for a few years, are these kind of increases standard. From $900 to $1400 in 2-3 days?

I'm going to wait for it to come down before I invest more money.
 
Ok, I'm getting bitcoin. I decided to man up. Question:

1. What is the difference between a bitcoin wallet on your smart phone (androind or app store) like bitcoin.com app versus an exchange like coinbase or bitstamp for example??
2. Is it safe to keep your bitcoin in an wallet app like bitcoin.com?
3. How long can a Trezor last for, will the battery die after 5 years then you are screwed?
 
mmafan2000 said:
Ok, I'm getting bitcoin. I decided to man up. Question:

1. What is the difference between a bitcoin wallet on your smart phone (androind or app store) like bitcoin.com app versus an exchange like coinbase or bitstamp for example??
2. Is it safe to keep your bitcoin in an wallet app like bitcoin.com?
3. How long can a Trezor last for, will the battery die after 5 years then you are screwed?
Click to expand...

great questions and I’d love to know also. I have the Binance.US app and Coinomi app but it’s unclear how to move assets into them for safe keeping


I also just discovered that you can buy Bitcoin straight off cashapp
 
  • Like
Reactions: THC
Wreckless said:
Ethereum is blowing up it's insane. It's a little over $1400 CAD right now. It was $900 like 2 days ago.

I wish I had bought more than just $150 worth lol.
Click to expand...

Lol.i got only 100 worth

Fak
 
Be careful. Interpretive Letter 1174 was just released 5 hours ago. See the Bitcoin thread in the War Room. Banks are going to have the same technology and will issue stable coins attached to gold or the US dollar so they are stable. Banks will use the same technology, but will do this much, much better and safer. Bitcoin will remain a speculative commodity.

Here's the link to the letter. Decide for yourself after you read it:

https://www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-2a.pdf
 
mmafan2000 said:
Ok, I'm getting bitcoin. I decided to man up. Question:

1. What is the difference between a bitcoin wallet on your smart phone (androind or app store) like bitcoin.com app versus an exchange like coinbase or bitstamp for example??

Having your money in an exchange also have its cons. They can get hacked themselves, you can potentially get frozen out of your account, etc. Also some exchanges(like Robinhood) do not even let you take our your assets - instead they are holding the assets in your name. You don't actually own it.

The most secure way of storing your crypto is in what's called a "hardware wallet" or "cold storage." i.e. Nano Ledger, Trezor, etc. You alone have the "keys" to your account and only when you physically plug in your USB and enter the password (Nano Ledger, Trezor, etc) can someone take assets out of your account.

2. Is it safe to keep your bitcoin in an wallet app like bitcoin.com?

Safest way is cold storage.

3. How long can a Trezor last for, will the battery die after 5 years then you are screwed?
Click to expand...

1. What is the difference between a bitcoin wallet on your smart phone (androind or app store) like bitcoin.com app versus an exchange like coinbase or bitstamp for example??

Those wallets that are in your smartphone or in your web browser are called "hot wallets." They are vulnerable because of viruses and hacking. If you click on a wrong link or something, someone may get access to your computer/smartphone and take all your assets.

Having your money in an exchange also have its cons. They can get hacked themselves, you can potentially get frozen out of your account, etc. Also some exchanges(like Robinhood) do not even let you take our your assets - instead they are holding the assets in your name. You don't actually own it.

The most secure way of storing your crypto is in what's called a "hardware wallet" or "cold storage." i.e. Nano Ledger, Trezor, etc. You alone have the "keys" to your account and only when you physically plug in your USB and enter the password (Nano Ledger, Trezor, etc) can someone take assets out of your account.

2. Is it safe to keep your bitcoin in an wallet app like bitcoin.com?

Safest way is cold storage/hardware wallet.

3. How long can a Trezor last for, will the battery die after 5 years then you are screwed?

Whenever you set up a hardware wallet like Trezor, they make you write down a randomized 24 word seed phrase. This is written down on a piece of paper which you will put someplace safe like a physical safe or safety deposit box or under your mattress (although I don't suggest that.)

If you lose your hardware wallet, it goes bad, it breaks, etc. All you need to do is buy another one and recover your old account with the original 24 word seed phrase.

I personally do not like the Trezor because of one thing I see as a flaw. When you input the 24 word seed phrase, you type it in on your computer as the Trezor is connected to your comp. That's a flaw IMO because if someone hacked your comp, they may be able to see what you type with a keylogger program. With that, they can steal everything you have.

On a Nano Ledger, you have to physically type in the seed phrase on the device itself. So the person would need physical access to your actual wallet to do anything.

On top of that, the Ledger has the most coins it supports over the other hardware wallets.
 
Last edited:
mmafan2000 said:
Ok, I'm getting bitcoin. I decided to man up. Question:

1. What is the difference between a bitcoin wallet on your smart phone (androind or app store) like bitcoin.com app versus an exchange like coinbase or bitstamp for example??
2. Is it safe to keep your bitcoin in an wallet app like bitcoin.com?
3. How long can a Trezor last for, will the battery die after 5 years then you are screwed?
Click to expand...

Please be careful. Interpretive Letter 1174 was just released 5 hours ago. See the Bitcoin thread in the War Room. Banks are going to have the same technology and will issue stable coins attached to gold or the US dollar so they are stable. Banks will use the same technology, but will do this much, much better and safer. Bitcoin will remain a speculative commodity.

Here's the link to the letter. Decide for yourself after you read it:

https://www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-2a.pdf

At the very least, read this letter that was just released by the government. If you still feel strongly about Bitcoin then go for it.
 
Status
Not open for further replies.

Similar threads

Brampton_Boy
Economy Bitcoin/Crypto is imploding
9 10 11
Replies
213
Views
5K
Rob Battisti
Rob Battisti

Latest posts

Forum statistics

Threads
1,280,351
Messages
58,277,365
Members
175,990
Latest member
dobetterinc

Share this page

Back
Top