Bitcoin Thread

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And again Binance is ****ed showing 0 balance etc.
 
My fok Margaret. Some people really have a lot of money to waste.
 
NarrowBandFtw said:
indeed, they're still miles ahead of any other ZA exchange, but now miles behind Luno

it truly is a two horse race in South Africa, almost feel sad for the ICE3X / AltCoinTrader / even Binance if you talk specifically ZARBTC crowd
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Please excuse the extreme noob questions if I may...

Let's say you used altcointrader to buy btc and they see their asses for some reason, does that mean your btc is gone as well?

If so, is there a way to move it somewhere else/safer?

I have seen comments about "keeping btc on exchanges (the easy lazy way" vs the alternative?

The scenario here is to buy bitcoin and hold forever or how long anyways, no trading involved and there will be small purchases each month in the future as well, also to hodl.
 
Jackes1754 said:
Please excuse the extreme noob questions if I may...

Let's say you used altcointrader to buy btc and they see their asses for some reason, does that mean your btc is gone as well?

If so, is there a way to move it somewhere else/safer?

I have seen comments about "keeping btc on exchanges (the easy lazy way" vs the alternative?

The scenario here is to buy bitcoin and hold forever or how long anyways, no trading involved and there will be small purchases each month in the future as well, also to hodl.
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Yes, if the exchange go under or were to be hacked, then you could lose your bitcoins.

If it is a significant amount, consider investing in a hardware wallet such as Trezor or Ledger. They start from around 50 Euros.
 
Jackes1754 said:
Please excuse the extreme noob questions if I may...

Let's say you used altcointrader to buy btc and they see their asses for some reason, does that mean your btc is gone as well?

If so, is there a way to move it somewhere else/safer?

I have seen comments about "keeping btc on exchanges (the easy lazy way" vs the alternative?

The scenario here is to buy bitcoin and hold forever or how long anyways, no trading involved and there will be small purchases each month in the future as well, also to hodl.
Click to expand...
well, with any exchange when you keep your crypto with them you entrust them with it, it is entirely possible that an exchange closes its doors and/or goes bankrupt for example but they diligently kept customer BTC entirely separate and tell you to move it somewhere else seeing as they are closing down

on the flipside it is also possible that an unscrupulous exchange decides to cut and run with customers' BTC ... in which case it will be gone of course

so it really is a case of how much you trust the exchange you are dealing with (fwiw you could say the same about banks, do you trust them to keep your ZAR safe and not steal it?)

many exchanges are plenty safe and trustworthy these days, and some even offer you interest on crypto stored with them which incentivizes more people to keep it with the exchange, even if you hodl, you can hodl and earn interest at the same time

that trust factor though is why many still advocate that you move your crypto to a private wallet where you have full control, when you do that you don't need to trust any exchange because the funds aren't held with them, problem is that's the equivalent of drawing your life savings from your bank account and walking around with all that cash in your wallet ... sure, you control it all, but if you lose it or it gets stolen from you, you lose everything
 
I'm curious to hear what are the decent wallets these days besides hardware ones. Any good mobile wallets? Or is paper wallet the way to go.
 
phly said:
I'm curious to hear what are the decent wallets these days besides hardware ones. Any good mobile wallets? Or is paper wallet the way to go.
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Mobile wallets are okay, but risky due to the potential of malware on your phone.

There's always the fire-proof crypto-steel as an alternative to a paper wallet:

cryptosteel.com

Cryptosteel | The Mother of All Backups

Cryptosteel is the best backup tool for storing wallet recovery seed phrases, private keys, and passwords without any third-party involvement.
cryptosteel.com cryptosteel.com
 
When and which direction for breakout?
This looks calm and collected but in long term view its literally vertical.
I guess that means the only viable breakout when it comes will be sideways or down.
Although for the last week or so all breakouts have been to take it more vertical...haha...

btc-spike-channel.jpg
 
Anyone here running any crypto nodes?

Figured out how to deploy them on proxmox LXCs today.

Next step figure out how the database works...maybe see if I can build some cool interactive analysis on top of it or something
 
phly said:
I'm curious to hear what are the decent wallets these days besides hardware ones. Any good mobile wallets? Or is paper wallet the way to go.
Click to expand...
If you're paranoid about security but can't afford a hardware wallet there's always VM+Linux+something like Exodus.
 
Swa said:
If you're paranoid about security but can't afford a hardware wallet there's always VM+Linux+something like Exodus.
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Paranoia is not even the issue. Just trying to find out what the average joe would turn to as a secure trustworthy wallet that will not only store their beloved crypto but support a variety of them too. None of them sound foolproof. Hardware can be lost, mobile ones can be malware ridden and paper ones... well the dog could eat that too as they commonly do with homework.
 
phly said:
Paranoia is not even the issue. Just trying to find out what the average joe would turn to as a secure trustworthy wallet that will not only store their beloved crypto but support a variety of them too. None of them sound foolproof. Hardware can be lost, mobile ones can be malware ridden and paper ones... well the dog could eat that too as they commonly do with homework.
Click to expand...

You shouldn't trust just one method/device with your seed!

Typically you would have your hardware wallet in addition to one or more paper backups of the seeds (not kept together). You can actually initialise multiple hardware wallets with the same seed and keep them separate.
 
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